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What’s Up With Housing?

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Quartz countertops, induction cooking, and single-level islands are among the design trends that have the potential.
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If the expectations about housing in 2019 can be summed up in one word, it’s this: balanced. After months and months on a runaway track, home prices have started to temper, and will continue to moderate in the upcoming year.
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The administration wants to eliminate professional appraisals on home sale transactions less than $400K.  Critics say the change could push the country back toward the see-no-evil days of mortgage lending that preceded the housing crash.
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Privacy, flexibility and accessibility need to be at the top of the list when planning a household for aging parents or adult children.
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The recklessness that accompanied the build-up in equity prior to the last crash does not exist today. That makes this housing market much more secure than the one we had heading into 2008.
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Naturally, after years of transforming beach homes into their best selves, Marnie Oursler has learned a lot about what works and what doesn’t—and what the next big thing in coastal design really is.
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Though ONE St. Petersburg is not yet finished, some buyers hope to flip their units for hefty profits as Tampa Bay’s luxury condo boom continues unabated.
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What’s Up With Housing?

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Millennials still show a preference for conventional loans. In Sept., 68% of all loans were conventional; 27% FHA and 2% VA, reports Ellie Mae, which says the industry should “educate these buyers on the options… available to them.”
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As home prices rose in the years before the Great Recession, complaints about a shortage of “workforce housing” became common in many communities throughout Florida. Those complaints are back again, with a vengeance. In most fast-growing areas of Florida — particularly in South Florida and Orlando — housing affordability for low- and moderate-income workers is a bigger issue than ever.
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The federal government’s clampdown on dirty money in luxury real estate markets in South Florida and other metropolitan areas is ramping up.
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Stackable apartments. Robotic valets. Infrared spas. The future has arrived, haltingly, and this time will be different. Maybe.
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Want to retire comfortably? Millennials should buy a home now, finds a ULI study. Those who postpone a purchase now to save money end up losing out later, because buying young nets a “big bang for the housing buck.”
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The 2018 Houzz Bathroom Trends Study finds homeowners are opting for showers over bathtubs in their master suites. And over half (56%) of baby boomer homeowners are addressing aging-related needs during master bathroom renovations.
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For the second consecutive month, sales and prices showed healthy year-over-year gains in October, with Pinellas County recording its biggest price jump — 13.3 percent — since January.
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What’s Up With Housing?

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“Everybody took a hit when the market crashed but since the market rebounded, African Americans are the only race that has been declining.”
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Removing upper kitchen cabinets, off-colored bookshelves, streamlined finishes, and built-in furniture are several small-space hacks that can be transferred to any home.
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Even if home prices stabilize, interest rates will keep going up, and people who think it wise to wait for the next buyer’s market will probably miss out. CoreLogic predicts a nearly 10% increase in buyers’ mortgage payments by next July.
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The recession has ended – but not in people’s heads. It still impacts the decisions of millennials who came-of-age during the economic crash.
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The housing market may be slowing down, but Nobel Prize winner Robert Shiller told CNBC he isn’t fearful that a big downturn is ahead.
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Scott McGillivray of HGTV’s “Income Property” and “Moving the McGillivrays” shares his picks for the elements that will define home renovation in the coming year.
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Nationally, attitudes about the economy improved a bit this month. The Oct. Consumer Confidence Index rose to 137.9 from last month’s 135.3.


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What’s Up With Housing?

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The members of Generation Z who have bought homes are the exceptions, but their spending power is growing.
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A correlation is seen between strict land use laws and the rise of home values. Home values and job growth have both risen since 2010, but home values grew much more steeply in metros with stricter land use regulations.
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According to Time Magazine, the number of female billionaires grew faster globally in 2017 than the number of male billionaires. This redistribution of wealth has seen an impact on luxury real estate both in its purchase and design attributes.
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Styles and tastes evolve constantly. So, to help keep you up to date, here are six trends to consider incorporating when your clients say they want a fresh look.
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Austin, Texas, is a shining example of how sustainability can contribute to the development and growth of a city.


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What’s Up With Housing?

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You don’t have to declare war with your bank account — it is possible to achieve a happy compromise. Low-cost decor that looks expensive really exists.
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The construction industry is running out of workers to build all those new condo towers, housing developments and highway projects. The shortages span the trades, with pipelayers, sheet metal workers, carpenters, concrete workers, pipefitters and welders in particularly high demand.
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If all continues on its current track, construction costs could continue to increase, and mortgage rates could reel in.
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Blueprint is a bold color choice, but not overwhelmingly so—it’s still soft enough to fit into homes full of neutrals and pastels.
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Even in a tight labor market, single-family builders are less likely to offer health, dental, and 401(k) plans compared with larger U.S. companies.
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NAHB Economist Robert Dietz offers a way to break the low inventory, high home price cycle.

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What’s Up With Housing?

Despite a shortage of available homes, many Tampa Bay sellers are getting a rude awakening when the sign goes up but no offers come in.
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Cerberus Capital Management is said to be raising over $500 million to buy single-family rental homes. Amherst Holdings is planning to raise $1 billion to buy single-family homes and rent them out.
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There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves.
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The Aug. Consumer Confidence Index rose to 133.4 – its highest level since Oct. 2000; both current outlooks and future expectations rose more than 5 points.
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Is your bathroom draining the good energy from your home? Restore the balance, and fix these feng shui faux pas—fast.

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What’s New With Housing?

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Please take action by urging Congress to extend the NFIP and pass meaningful reforms to ensure long-term viability of the program.

 

Freddie Mac: Rates have declined in 5 of past 6 weeks, but a year ago, the average 30-year FRM was 3.96%. Average 15-year FRM slipped to 3.99% this week.
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Whether in a nod to the bold approach of the ’30s or the kitschy flourishes in ’60s design, modern kitchens are finding a fresh new face in the past.
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Apartment renters have come to expect green building features like good indoor air quality and energy efficiency, making them more of a requirement in many markets.
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As a first-time home buyer, where do you even begin? Saving enough cash to cover a down payment is a big enough hurdle to get over, but that’s just the beginning. The entire process can be intimidating and overwhelming. Mortgages, offers and negotiations, inspections, homeowners insurance, property taxes, the list goes on.
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A new report says student loans, high rent, and location preferences are among impediments to Millennial homeownership.
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22 real estate groups and associations – NAR, NAHB, insurers, bankers and others – sent a joint letter to lawmakers pushing them to pass a flood insurance bill.

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