Friday, October 12, 2018

October 2018 National Housing Trends eNewsletter

Angela Yglesias

Levesque Realty 

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

Housing Trends

October 2018

Use our tools
to find out


Neighborhood reports

Market Snapshot
Get a detailed report showing market trends in your neighborhood, including recent listings, sales prices and average time on market.
Get a report

Find a Mover

Find a Mover

Type of Move
Move date
Moving From Zip
Moving To Zip
Size of Move


Mortgage rates

Powered by thefinancials.com


Mortgage calculator

Market Snapshot
Get a detailed report showing market trends in your neighborhood, including recent listings, sales prices and average time on market.
Get a report

Rent vs buy


How big is an acre? What is an option?
Do I need hazard insurance?

Take a look at our real estate glossary to learn definitions of common words and phrases used in the industry.

National market update

Existing-Home Sales Remain Flat Nationally, Mixed Results Regionally

WASHINGTON (September 20, 2018) – Existing-home sales remained steady in August after four straight months of decline, according to the National Association of Realtors®. Sales gains in the Northeast and Midwest canceled out downturns in the South and West.



Read more

6 Home Renovation Myths to Stop Believing Before You Botch Things Up

Where do home renovation myths start? Maybe in the aisles of your local hardware store or parking lot of the lumber yard. They get traded back and forth and whispered to people who may actually believe the tall tales—until they find themselves sitting under a pile of splintered wood and drywall dust.



Read more

National housing indicators

Existing home sales (August)

5.29 million units*

Existing home median price (August)

$267,200

Housing Starts (August)

1.282 million unit*

New home sales (July)

0.627 million unit*
*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

1st Quarter 2018

64.2%

2nd Quarter 2018

64.3%
The homeownership rate of 64.3 percent was not statistically different from the rate in the second quarter 2017 (63.7 percent) nor from the rate in the first quarter 2018 (64.2 percent).

New home sales

July 2018

-1.7%

August 2018

+3.5%
Sales of new single-family houses in August 2018 were at a seasonally adjusted annual rate of 629,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.5 percent (±13.7 percent)* above the revised July rate of 608,000 and is 12.7 percent (±20.7 percent)* above the August 2017 estimate of 558,000
Source: U.S. CENSUS BUREAU

How much is your home worth? Get a real-time report on the value of your home. Start now


Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Local Prices & State Sales

Local Sales & Price Activity





Consumer tips & hot properties

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Got Lousy Credit? 10 Places Where It Won't Stop You From Buying a Home

There are plenty of places where a poor credit score may not stand in the way of buyers seeking a mortgage for the home they’ve set their sights on.



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6 Things You'll Overhear at an Open House That Might Persuade You to Buy Now—or Run

The seemingly innocuous chitchat you overhear can help you decide whether to follow through and make an offer—or conversely, get the heck out of there.



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Want Instant Curb Appeal on the Cheap? These 6 Easy Tricks Will Cost You Under $200

Boosting your curb appeal—with quick and easy upgrades—doesn’t have to drain your savings account.



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Put Away the Pumpkins and Pine Cones: These Fab Fall Decor Ideas Are in Season

This autumn, designers are all about going off book with cozy but timeless decor that can last well into winter and even next spring—nary a gourd or corn husk in sight.



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Early Bird Specials! America’s 10 Most—and Least—Expensive Retirement Towns

As tens of millions of baby boomers plan their retirement, they’re obsessing over where to live out their golden years—without giving up an active, social lifestyle.



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Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.

National Statistics

Statistics by City or Metropolitan Area

Regional Statistics

Source: NATIONAL ASSOCIATION OF REALTORS®.

Housing Trends eNewsletter is filled with U.S. Census Bureau key market indicators, consumer videos, blogs, a real estate glossary, mortgage rates and calculators, consumer articles, real estate radio, realtor.com® local community reports and local and national real estate sales and price activity provided by local MLSs and the National Association of REALTORS®.
Subscribe to the free Housing Trends eNewsletter to receive it each month. You can unsubscribe at any time.
Information contained in this eNewsletter is compiled from a variety of sources. The accuracy and authenticity has not been verified by Move, Inc., is subject to change, is provided "as is" and is not guaranteed. The views expressed herein do not necessarily reflect those of Move, Inc. Move, Inc. makes no representations or warranties of any nature with regard to the privacy and/or business practices of the websites linked from or to this eNewsletter nor the accuracy and authenticity of any information contained in such websites, and is not responsible for any content contained in any linked site or for any action or lack of action by any linked site whatsoever, including their use of any information they may collect.
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Friday, October 5, 2018

Understanding Investment Properties: What You Should Know



Unlike a second home, where a homeowner lives for a portion of the year, an investment property is property that the homeowner uses to generate income, and in most cases, is not occupied by the homeowner at any time. Trying to figure out if your next home falls under second home or investment home status? Ask yourself: are you using it to make a profit? If the answer is yes, it’s an investment property.
A few examples of investment property include:
  • A condo at the beach that you rent out to vacationers
  • A house that you rent to long-term tenants
  • A home you purchased to “flip” (buy and resell in a short period of time)
Financing
If you need to finance your investment home, expect higher interest rates and a larger down payment. Most lenders find investment properties riskier, and your rates will reflect that.
Multi-Unit Homes
A popular investment home model is a split-family home or an apartment building; this allows the owner to live on the property and make a profit from renting out additional units. These properties are often eligible for traditional financing and do not necessarily require an investment property loan.
So long as you use one of the units in the home for year-round living, you should be able to finance the property through a conventional loan, receiving lower rates and a lower down payment.
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Saturday, September 29, 2018

The Art of Feng Shui and Home Selling



What does the ancient philosophy of Feng Shui have to do with real estate? Many believe that the Chinese art of correct placement can help sell their home faster.
Feng Shui translates to “the wind and the water” and has long been believed to align life with nature. The goal of Feng Shui is to arrange a house with sufficient Qi (pronounced chee)—the living energy of all beings. Sellers use this philosophy as a way of staging their homes to sell faster.
When there’s not enough Qi, advocates believe that the whole land energy is low or depressed and that it can come out in a home sale. For instance, if a seller feels tired and uninspired, this energetic impression is thought to influence visitors and potential buyers.
Followers understand that Feng Shui is all about drawing harmony and good health into one’s life. This can be done by simply rearranging furniture, such as changing where a bed sits in the bedroom or what direction the kitchen chairs are facing.
In Feng Shui ideology, it’s important to use horizontal space in the placement of your furniture and décor. You want to draw the eye to the corner of each room that is diagonal to the door. This makes the room feel larger and creates a “good luck” area.
A bedroom is thought to be a sanctuary for privacy, peace and intimacy. Objects must be placed in pairs throughout the room to increase marital harmony and balance. You also want to place the bed in the position that has the most commanding view of the doorway, which is considered the mouth of the Qi.
The kitchen is even more important because a chef’s energy is imparted into the food. You should never have your back to the door when cooking. If there’s no way to change this, Feng Shui experts believe you should place a mirror behind the stove so you have a clear view of who is entering the kitchen.
Another principal of Feng Shui is that earthy scents are the most appealing to the widest range of people. Add cinnamon and pine scents to your home before homebuyers come inside.
A last tidbit to consider is the location of any “For Sale” signs in the yard. With Feng Shui, it’s believed that signs are much more effective when placed on the right side of the front door, since it is considered the yang, or energetic, side of the home.
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Friday, September 28, 2018

September 2018 National Housing Trends

Angela Yglesias

Levesque Realty 

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

Housing Trends

September 2018

Use our tools
to find out


Neighborhood reports

Market Snapshot
Get a detailed report showing market trends in your neighborhood, including recent listings, sales prices and average time on market.
Get a report

Find a Mover

Find a Mover

Type of Move
Move date
Moving From Zip
Moving To Zip
Size of Move


Mortgage rates

Powered by thefinancials.com


Mortgage calculator

Market Snapshot
Get a detailed report showing market trends in your neighborhood, including recent listings, sales prices and average time on market.
Get a report

Rent vs buy


How big is an acre? What is an option?
Do I need hazard insurance?

Take a look at our real estate glossary to learn definitions of common words and phrases used in the industry.

National market update

Existing-Home Sales Slip 0.7 Percent in July

WASHINGTON (August 22, 2018) — Existing-home sales subsided for the fourth straight month in July to their slowest pace in over two years, according to the National Association of Realtors®. The West was the only major region with an increase in sales last month.





Read more

The Best—and Worst—Cities to Raise a Family in 2018 Aren't Where You'd Expect

Whether you're an anxious parent-to-be or harried mom or dad to six kids, where you choose to raise your progeny is of tantamount importance. Because, let's face it, some cities and towns are simply more family-friendly than others.





Read more

National housing indicators

Existing home sales (July)

5.34 millions units*

Existing home median price (July)

$269,600

Housing Starts (July)

1.168 millions units*

New home sales (June)

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

National economic indicators

Home ownership

1st Quarter 2018

64.2%

2nd Quarter 2018

64.3%
The homeownership rate of 64.3 percent was not statistically different from the rate in the second quarter 2017 (63.7 percent) nor from the rate in the first quarter 2018 (64.2 percent).

New home sales

June 2018

-5.3%

July 2018

-1.7%
Sales of new single-family houses in July 2018 were at a seasonally adjusted annual rate of 627,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.7 percent (±14.7 percent)* below the revised June rate of 638,000, but is 12.8 percent (±15.7 percent)* above the July 2017 estimate of 556,000.
Source: U.S. CENSUS BUREAU

How much is your home worth? Get a real-time report on the value of your home. Start now


Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Local Prices & State Sales

Local Sales & Price Activity






Consumer tips & hot properties

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America’s Most Affordable Outdoorsy Cities, 2018: Open-Air Adventure at Cut-Rate Costs

If you can’t wait for the weekend to get on a bike, go for a run, or board a boat, we’ve got the best places for you to live—where homes are actually affordable.



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4 Things I Wish I’d Known Before I Got an FHA Loan

An FHA loan with a low down payment can be a lifesaver; but, as one newbie home buyer discovered, it isn’t all smooth sailing.



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How Long Should You Live in Your Home? 6 Signs It’s Time to Move On

The average length of time owners stay in a home is 10 years. Here’s how to figure out how long is too long for you.



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5 Mortifying Reasons Mortgage Applications End Up in the ‘Reject’ Pile

There are a number of reasons why lenders turn down mortgage applications, but some of the most common can be avoided quite easily.



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Old Is Gold: 8 Vintage Living Room Design Trends That Are Making a Big Comeback

Vintage is new again, as designers give time-tested styles a modern update. Check out which looks are having another heyday.



Read more

Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.

National Statistics

Statistics by City or Metropolitan Area

Regional Statistics

Source: NATIONAL ASSOCIATION OF REALTORS®.
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Monday, September 17, 2018

Hiring a Contractor? Do This First



Nothing is more exciting than embarking on a home renovation project! Hire the wrong contractor, however, and your dream remodel can quickly turn into a nightmare.

That’s why it’s essential to do your due diligence when hiring a contractor, such as getting multiple estimates before signing a contract. According to the Better Business Bureau (BBB), when you get multiple bids, you can learn a great deal about the proposed project, such as what type of work is needed, the quality of the building materials, how long the job may take and the total cost.

The BBB offers these other tips to help find the best, most ethical contractor to work with and ensure a successful home renovation:

- First, check bbb.org - BBB’s business profiles can tell you how long the contractor has been in business, as well as provide contact information, verified customer reviews, complaint details and how the business responded.

- Be wary of ‘today-only’ sales pitches - This is a sales tactic designed to get you to sign a contract or put down a deposit, without giving you the opportunity to do your research. Watch out for these and other ‘bargains’ that rush you into a deal.

- Get references from recent customers - Speak with other property owners who had work done recently, and ask what they did or did not like about a particular contractor. A reputable contractor will be happy to provide client references.

- Get everything in writing - Make sure all verbal promises end up in the written contract as well as a detailed description of the work, the cost of materials and start and completion dates. Contracts also should include specifics about the deposit and payment schedule and guarantees for the quality of work and materials.

- The contract should specify required permits - Renovation work often requires permits from the town or municipality. If you’re contractor suggests going without permits, it might be a sign they have a poor reputation at city hall.

- Compare apples to apples – Choosing a prospective contractor is simpler if you ask for quotes based on the number of hours needed and the same quality of materials.

- Avoid putting down a large deposit - A typical payment schedule should follow the “rule of thirds.” The first payment is given when signing the contract and helps pay for materials, the second payment when work begins, and the final payment when the job is finished and you are satisfied with the quality of work. Ask the builder to walk you through the work to explain what has been done.

By sticking to the above steps, you’ll head into your renovation with peace of mind, knowing you’ve done your homework and taken the necessary steps to select the best possible contractor. 
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Friday, September 7, 2018

Eco-friendly Kitchen Features That Won't Break the Bank



Eco-friendly features are all the rage today as homeowners commit to living greener lives. But for those looking to reduce their carbon footprint, where do you begin?
 
For many, the answer is the kitchen. The central hub of the home, the kitchen offers a perfect foundation for incorporating green features and appliances.  
 
Getting started, you may want to consider adding an induction stove, a stove that utilizes magnetic energy to induce a current that heats the food. Not only do pans heat up quickly on this type of stove, but the amount of time needed to cook meals is greatly reduced. In addition to the energy savings and coolness factor, induction stoves tend to be much safer than traditional stoves since there’s no open flame or hot electric element involved. 
 
It’s also important to add energy-efficient appliances. If you’re trying to sell your home and an old dishwasher and refrigerator unit serve as the focal point of the room, it could be a major deterrent to a sale.
 
Changing up the lighting is another easy way to up the eco-friendly factor and make the kitchen appear fresh and new. Installing ceiling fans is another simple, inexpensive way toward making the space more eco-friendly. Ceiling fans will circulate warm air in the winter and will help keep the kitchen cool in the summer, keeping heating and cooling costs lower throughout the year.
 
When it comes to greening your home, remember that you don’t need to drain your bank account to find success. For example, adding a water filter to your sink (and saying goodbye to bottled water) is an inexpensive way to promote green living. Take this one step further by highlighting the fact that the water filter removes harmful contaminants, providing a fresh drink that can easily be enjoyed when relaxing at home or while out and about. 
 
While not every change will yield a payoff, data shows that kitchen improvements will reap the highest rewards in home value, offering the fastest way to get someone interested in buying your home.
 
For more tips on adding eco-friendly features to your kitchen, contact me today! 
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Monday, September 3, 2018

Is Your Playground Safe?



Whether at the local park or in your own backyard, nothing beats watching your kids immerse themselves in the simple and healthy joy of the playground. But with all that unbridled energy comes safety hazards. The Consumer Products Safety Commission (CPSC) provides quick but important tips to help make the playground a safer place.

A recent report from the CPSC found that from 2009 to 2014, nearly 1.5 million injuries associated with playground equipment were treated nationally in emergency departments. Annually, that breaks down to about 243,000 ER treated injuries.

The report also finds:

- The two most common hazard patterns are falls and dangers posed by the equipment, which together account for 81 percent of the reported incidents.
- The most common diagnoses are fractures and contusions/abrasions.
- Monkey bars and swings account for the majority of the total injuries, although slides account for one-fifth of the injuries.
- More than half of the victims seen in ER's were between ages five and nine.

Fortunately, the CPSC provides the following “golden rules” of playground safety:

- Always supervise children and make sure they are using playground equipment appropriate for their age.
- Never attach ropes, jump ropes, pet leashes or strings to playground equipment.
- Make sure children's clothing does not have any drawstrings as they can catch on slides and other equipment.
- Make sure surfaces around playgrounds have 9-12 inches of wood chips, mulch, sand, pea gravel, or mats made of safety-tested rubber.
- Check that protective surfacing extends at least 6 feet in all directions from play equipment. For swings, be sure surfacing extends, in back and front, twice the height of the suspending bar. Look out for tripping hazards, like exposed concrete footings, tree stumps, and rocks.
- Don't let kids play on slides/surfaces that are burning hot. Keep in mind, the temperature doesn’t have to be that high - if it feels hot to your hand, it may be too hot for a child's bare skin.

Keep these tips in mind and help children safely enjoy your playground.

Source: U.S. Consumer Product Safety Commission 
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