Friday, April 29, 2016

5 Ways to Upgrade a Landscape for Less Than $1,000


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Photo credit: pixabay
The landscaping is a major part of a home’s curb appeal. Depending on where you live, landscaping can also be a crucial part of helping to control wildlife, and reducing energy costs by providing things like shade. There are many ways you can change your landscaping without breaking the bank too. The following five upgrades can all be done for less than $1,000.
1. Fertilizing the lawn
Fertilizing the lawn is a fast and low cost way to help improve the way your whole yard looks and feels. At the end of a long winter, fertilizer can help revive your grass, helping it green up faster, and providing a more lush surface. Some fertilizers can also kill weeds, which can further help improve your lawn’s appearance.
Cost: The average cost of fertilizing your lawn is $0.03 a square foot, assuming a 6,000 square foot lawn. The total range of costs is between $0.02 a square foot for a DIY job, to $0.04 a square foot during peak season.
Money-saving tips
  • Fertilize your lawn early in the season to take advantage of lower prices, and to maximize your lawn’s growth.
  • Water your lawn regularly early in the morning to help prevent it from drying out, which will help your fertilizing go further.
DIY Considerations
This job is entirely suitable for DIY. All you need is a spreader, and the ability to walk over the entire area of your lawn.
2. Tree Planting
Planting new trees on your property has a lot of advantages. Trees help prevent soil erosion, while also providing shade and cleaner air. The right trees can also help you improve your home’s curb appeal, and complement the rest of your landscaping at the same time.
Cost: The average cost for planting new trees is $106 per small tree delivered and planted, with a minimum of five trees. The total costs range from $75 a tree for five small trees delivered off site and planted DIY to $2423 per large tree delivered and planted with a minimum of five trees.
Money-saving tips
  • Check with utility companies before planting to ensure the trees will not be in the way of power lines, as this could result in additional expenses to trim or remove the trees.
  • Check with your town or state to find out about programs which provide shade giving trees for free in sunny areas.
DIY Considerations
This job may be suitable for DIY, but assumes the ability to dig a hole large enough for each tree. Equipment such as mini-excavators can help make this job easier, but do increase price.
3. Stain Your Deck
The deck is a major part of your home’s curb appeal, as well as enjoyment of the property. Sun, wind, rain, hail, and snow can all pay a heavy toll on your deck’s appearance, however. Over time, old stain may fade, crack, or peel, exposing the wood below to the elements, which in turn can mean the rotting of the wood on your deck itself. Applying a new coat of stain can help maintain not only your deck’s good looks, but also its integrity.
Cost: The average cost to stain a deck is around $2 a square foot, including labor and equipment such as pressure washers and the stain itself.
Money-saving tips
Most older decks need to be power washed before staining; consider renting a power washer yourself to do the cleaning before having the deck professionally stained.
DIY Considerations
This job is entirely suitable for DIY; be sure to rent the proper equipment before hand, and to put on at least two coats of stain to ensure the job lasts.
4. Fountain Installation
Fountains add a lot of interest and tranquility to your yard and landscaping. The sound of running water is often enjoyable for many people using the space, while the look of a fountain can increase your curb appeal. There are many different types and styles of fountain available, which can increase your chances of finding one that fits your needs.
Cost: The cost of a fountain installation depends largely on the type of fountain you’re installing. The least expensive option is a standalone bird bath, which costs between $150 and $300. Another inexpensive option may include a wall fountain with costs ranging from $600 to $1,200.
Money-saving tips: 
  • Consider adding a fountain at the same time as other landscaping is being done to help lower the labor costs of the project as a whole.
  • Purchase a fountain kit that makes installation easier, lowering the overall costs.
DIY Considerations
Whether not your fountain can be installed DIY is largely dependent on the type you are having installed. Kits and things like bird baths are easier to install than fountains which must be crafted or poured on site.
5. Fence replacement
Fencing can not only enhance your landscaping and curb appeal, it can offer a lot of other benefits as well. Pet containment, privacy, and creating a safe place for children to play are all great reasons to consider installing a new fence or replacing your old one.
Cost: The average cost to install a new fence is $13.26 a linear foot for galvanized steel chain link fencing. Total costs range from $7.02 a foot for a DIY installation to $28 per foot for a redwood split rail fence.
Money-saving tips: 
  • If you’re replacing an old fence with a new one, consider doing the tear out of the old fence yourself. This can significantly lower the labor fees on the new installation.
  • Fencing prices are also largely dictated by the material that the fencing is made of. Choose the fencing that best meets your functional needs first, then consider looks to make sure you get the lowest cost fence for your yard.
DIY Considerations
Fence installation can be difficult for those that do not have the experience or necessary tools. Digging the holes for the fence posts can be difficult and time consuming, and in most cases it may be best to leave this job to professionals.
To find out more about the costs of upgrading your home, take a look at these Fixr andHowMuch cost guides.

Tuesday, April 26, 2016

High demand and thin housing supply crimp March California pending home sales

LOS ANGELES (April 25) – Statewide pending home sales in California decreased in March on an annual basis for the third straight month, reflecting high demand for a dearth of homes available for sale on the market, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

Pending home sales data:

• Statewide pending home sales fell in March on an annual basis, with the Pending Home Sales Index (PHSI)* decreasing 1.7 percent from 138.0 in March 2015 to 135.6 in March 2016, based on signed contracts.

• On a monthly basis, California pending home sales rose from February, primarily due to seasonal factors. The PHSI increased 12.7 percent from an index of 120.3 in February to 135.6 in March. When adjusting pending sales for typical seasonal patterns, pending sales actually declined 1 percent from February. Tight inventories are expected to continue to impede home sales growth this year.

• At the regional level, pending sales were down on an annual basis in all major regions of the state, with the San Francisco Bay Area experiencing the largest contraction at 3.7 percent. All major regions experienced double-digit, month-to-month increases in pending sales
.
• Within the core areas of the Bay Area, including San Francisco and Santa Clara counties, pending sales actually saw an increase over last year of 8.6 percent and 11.6 percent, respectively.

• Conversely, the Central Valley, which has been enjoying the fastest pace of home sales growth of late, saw pending sales fall 3.5 percent from March 2015, but was up 11.7 percent from February.

• Pending home sales in Southern California were essentially flat in March, edging down 0.3 percent from a year ago and were up 17.8 percent from February. Los Angeles County posted a modest annual gain of 1 percent, while Orange County declined by 4.3 percent.


Year-to-Year Change in Pending Sales by County/Region
County/Region/StateMar-16Mar-15YTY %  Change
Los Angeles90.990.11.00%
Monterey72.667.67.40%
Orange86.490.3-4.30%
Sacramento72.880.3-9.40%
San Francisco91.584.28.60%
Santa Clara10493.211.60%
SF Bay Area179.2186.2-3.70%
So. CA115115.4-0.30%
Central Valley96.399.8-3.50%
California135.6138-1.70%


March REALTOR® Market Pulse Survey

In a separate report, California REALTORS® responding to C.A.R.’s March Market Pulse Survey saw an increase in floor calls and listing appointments/client presentations, indicating a solid start to the spring home-buying season. Floor calls and listing appointments both rose for the third consecutive month in March. Open house traffic was down slightly but has been in positive territory since the beginning of the year. Additionally, more homes are selling above asking price than below for the first time in the survey’s history.

The Market Pulse Survey is a monthly online survey of more than 300 California REALTORS®, which measures data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

• The share of homes selling above asking price in March rose to the highest level since July 2015 at 34 percent, indicating strong market competition for the thin supply of homes available for sale. Conversely, the share of properties selling below asking price shrank for the third straight month to a new low of 33 percent. The remainder (33 percent) sold at asking price.

• For the homes that sold above asking price, the premium paid over asking price declined for the first time in five months to an average of 9.8 percent, down from February’s 11 percent but up from 7.7 percent in March 2015.

• The 33 percent of homes that sold below asking price sold for an average of 9.6 percent below asking price in March, down from 12 percent in February and 11 percent a year ago.

• Half of the properties for sale received multiple offers in March, indicating the market remains competitive. Sixty-two percent of properties received multiple offers in March 2015.

• The average number of offers per property increased for the second straight month to 3.3 in March, up slightly from 3.1 in February and 2.7 in March 2015.

• With home prices leveling off in recent months, more sellers are adjusting their listing price to become more in line with buyers’ expectations. About one in five (21 percent) of properties had price reductions in March, down from 23 percent a year ago.

• Low housing inventory continued to be REALTORS®’ biggest concerns, cited by four in 10 (40 percent), while 18 percent indicated declining housing affordability, and 13 percent stated over inflated home prices.

• REALTORS® were largely optimistic about this year’s housing market, with the vast majority (83 percent) expecting similar or better market conditions in 2016.

Graphics (click links to open):

• Pending home sales by region.
• More homes selling at or above asking price.
• Number of multiple offers increasing.
• Lack of housing inventory #1 concern.

*Note:  C.A.R.’s pending sales information is generated from a survey of more than 70 associations of REALTORS® and MLS's throughout the state.  Pending home sales are forward-looking indicators of future home sales activity, offering solid information on future changes in the direction of the market.  A sale is listed as pending after a seller has accepted a sales contract on a property.  The majority of pending home sales usually becomes closed sales transactions one to two months later.  The year 2008 was used as the benchmark for the Pending Homes Sales Index.  An index of 100 is equal to the average level of contract activity during 2008.

**C.A.R.’s Market Pulse Survey is a monthly online survey of more than 300 California REALTORS® to measure data about their last closed transaction and sentiment about business activity in their market area for the previous month and the last year.

Leading the way...® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 185,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles. 

Thursday, April 14, 2016

National Housing Trends Newsletter March 2016

Angela Yglesias

Levesque Realty 

Cell: 805-490-4944  
Phone: 805-490-4944 

Housing Trends

March 2016


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National market update

Existing-Home Sales Fizzle in February

WASHINGTON (March 21, 2016) — After increasing to the highest annual rate in six months, existing-home sales tumbled in February amidst unshakably low supply levels and steadfast price growth in several sections of the country, according to the National Association of Realtors®. Led by the Northeast and Midwest, all four major regions experienced sales declines in February.



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America's Fastest-Growing Cities 2016

When Nate and Vanessa Quigley were deciding where to build Chatbooks, the photobook startup the married couple founded together, they looked for a place deep with creative and technical talent — preferably, that they could have all to themselves. That ruled out the rocketship-heavy Bay Area, where Nate’s friends running tech companies told him that "if they hiccup even for a second all of their best talent bolts.


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National housing indicators

Existing home sales (February)

5.08 millions units*

Existing home median price (February)

$210,800

Housing Starts (February)

1.178 millions units*

New home sales (January)

0.494 millions units*
*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

4th Qtr 2015

+63.8%

4th Qtr 2014

+64%
The homeownership rate in the fourth quarter 2015 was 63.8 percent, down 0.2 (+/- 0.4)* percentage points from the fourth quarter 2014 rate of 64.0 percent. The homeownership rates in the Northeast, Midwest, South and West were not statistically different from the rates in the fourth quarter 2014.

New home sales

February 2016

+2.0%

January 2016

-7.0%
Sales of new single-family houses in February 2016 were at a seasonally adjusted annual rate of 512,000. This is 2.0 percent (+/- 18.8%)* above the revised January 2016 estimate of 502,000.
Source: U.S. CENSUS BUREAU

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Representing residential and commercial buyers and sellers in Ventura and LA Counties.
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