My Listings

My Listings
Browse my web site

Wednesday, July 29, 2020

Survey: 10 Best U.S. Cities for Coffee Lovers

Survey: 10 Best U.S. Cities for Coffee Lovers: Some cities, such as Portland and Seattle, are synonymous with great coffee, but are they actually the best cities in the country to have a cup of joe?

Monday, July 27, 2020

Home Sales up 14%

Low mortgage rates and pent up demand from buyers drove sales of new houses to a 13-year high in June, according to a government report.

Builders sold 776,000 houses at an annualized and seasonally adjusted pace, a gain of 14% from the upwardly revised May gain of 19.4%, the Commerce Department said Friday in a report that counts signed contracts as sales. That beat the expectations of economists, who expected a June advance of 4%, according to a survey conducted by Trading Economics.

Houses sold at the fastest pace since July 2007 as mortgage rates tumbled to record lows set last week, when the average U.S. rate for a 30-year fixed mortgage fell below 3% for the first time in a data series that goes back to 1971, according to Freddie Mac.

While potential buyers are getting a deal with financing costs, they have to contend with a shortage of available properties in the existing home market that stretches back to last year and has been made worse by the COVID-19 pandemic.

“Pent up demand for housing has been unleashed as states have reopened, and low mortgage rates sweeten the deals,” said Robert Frick, an economist for Navy Federal Credit Union.

All U.S. regions posted a gain in sales, led by a 90% jump in the Northeast, a region that was under strict lockdowns during April and part of May. The West had an 18% increase in sales, the Midwest rose 11%, and the South advanced 7.2%, the report said.

The so-called months supply number that measures how long it would take to sell off current inventory fell to 4.7 months, the lowest in almost four years.

Measured by the state of construction – another gauge of demand – the number of properties sold that hadn’t yet been started rose to a seasonally adjusted 233,000, a more than two-year high. Builders sold 253,000 houses that were under construction, and 290,000 completed houses.

Monday, July 20, 2020

Pandemic to Weigh on Home Remodeling Spend Through Mid-Year 2021

Share This Post Now!

Expenditures for improvements and repairs to owner-occupied homes are expected to slow by the middle of next year as the COVID-19 pandemic continues to unfold, according to the Leading Indicator of Remodeling Activity (LIRA) released by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University.

Assuming continued weakness in the broader economy due to the public health crisis, the LIRA projects annual declines in renovation and repair spending of 0.4 percent by the second quarter of 2021. With the unprecedented changes to the U.S. economy since mid-March, the Remodeling Futures Program is again providing this downside range for the home remodeling outlook, which incorporates forecasts for several core model inputs: retail sales of building materials, home prices and GDP. In contrast, the LIRA’s standard methodology, which does not include forecasted trends, would have called for increasing remodeling activity through the start of next year.

“The remodeling market was buoyed through the early months of the pandemic as owners spent a considerable amount of time at home and realized the need to update or reconfigure indoor and outdoor spaces for work, school, play, exercise, and more,” says Chris Herbert, managing director of the Joint Center for Housing Studies. “However, sharp declines in home sales and project permitting activity this spring, as well as record unemployment, suggest many homeowners will likely scale back plans for major renovations this year and next.”

“As the pace of do-it-yourself activity, maintenance work and exterior-focused projects begins to taper, annual expenditures by owners for home improvements and repairs are expected to shrink slightly to $326 billion by the middle of 2021,” says Abbe Will, associate project director in the Remodeling Futures Program at the Center. “Given the ongoing uncertainty surrounding the broader impact of the pandemic, the timing on when we’ll reach a bottom in the remodeling market also remains unclear.”

Source: Joint Center for Housing Studies

Tuesday, July 14, 2020

Forget kitchen upgrades. What everyone desperately wants is a home office

HomeLight survey also shows real estate agents are more optimistic than before the pandemic

The coronavirus pandemic has had a tremendous impact on our lives in one way or another. When it comes to housing, one survey has found that the top reason for moving over the second quarter was a need for more space.

Startup HomeLight surveys about 2,000 agents every quarter. Its latest results indicate that homebuyer housing preferences have most certainly shifted amid the COVID-19 pandemic. The most desirable upgrades to homes in a post-COVID world are now home offices (17%) , less dense location (16%), single-family living (15%) and a private and spacious outdoor area (15%).

“Home offices will likely become more formal and outfitted to a comfortable working environment as remote jobs become a permanent fixture of society,” HomeLight’s report said.

Those who do invest in a building home office (at an average cost of about $12,119) can take comfort in knowing that, according to the survey, it also yields a significant ROI (return on investment) – an average $10,526 in added value – compared to some other house projects. In fact, a home office topped even a walk-in pantry, a patio, double ovens a privacy fence, and a fire pit in terms of average ROI.

Survey data also revealed that in the wake of the coronavirus, agents cited the need for more space (44%), a desire to buy vs. rent (41%), and moving to the suburbs (37%) as the top 3 reasons motivating people to move.

I hopped on the phone with HomeLight CEO Drew Uher, who also told me that one of the things that stood out in this report was the agents’ level of optimism.

“In our previous report there was a pretty heavy initial toll on the market, where optimism had declined from 76% to 56%,” he told HousingWire. “But that has reversed course now. In this last report, it was all the way back up to 82%, exceeding pre-pandemic levels. That seems remarkable considering we’re dealing with a sizeable unemployment problem.”

As we’ve consistently reported, inventory remains low in many markets. So it’s unclear where inventory is going to come from to meet increased demand with nearly 60% of agents reporting a lack of supply to meet demand.

While some homeowners may be reluctant to sell, Uher predicts that at some point, people will start to relax and we’ll see pent-up demand released.

“Also, we’re predicting a fair amount of inventory released as shifting economic and job circumstances spur buyers,” he added.

The federal government’s moratorium on foreclosures expires August 31. And while homeowners have had up to 180 days of forbearance and have not been forced into selling like the last recession, things may change by this fall.

“Mortgage payments don’t go away, they just accumulate,” Uher pointed out. “So we may see a fair amount of inventory and the entry to-mid level get jarred loose this fall and that will normalize some of the supply-demand imbalance we’re seeing now.”

Sunday, July 12, 2020

4 Things Homebuyers Should Know About New Construction Homes


Posted on Jul 9 2020 - 3:30pm by Housecall
109


By Brooke Chaplan

Being the first person to own a newly-built home can be a source of immense pride and enjoyment. Having the chance to build a house to your exact specifications gives you a great opportunity to move into a home that you can enjoy for many years.

Related: Essential Steps to Take When Buying and Developing New Land

As a potential buyer of a new home, there are some important things to keep in mind throughout the research and building process that will help make the process simpler. To help ensure you're fully prepared, here are four things homebuyers should know about new construction homes:

There Are Lots of Options

It's easy to miss when you walk through a completed home, but the number of options available when you're constructing a new home is staggering. If you're buying a home in a new development, you can simplify this decision-making process by choosing from certain pre-selected packages. Of course, you can choose each option individually, keeping in mind that this will take quite a bit of time and could result in an unexpected finished product if you don't have a decent handle on interior design.

There's Time Involved

New construction homes don't just pop up overnight. Most new homes take a few months to build, meaning you need to have a plan for where you'll live in the meantime. To be sure, the end result is more than worth the wait. It's important, though, to keep in mind that the waiting period will likely be longer than if you buy a pre-existing home. To help maintain your excitement, you can drop by the building site on occasion to check out the construction progress.

Home Warranties Are Encouraged

There's no doubt that home builders work hard to produce the best homes they can. However, that doesn't mean that a home warranty is not a smart idea, even when the home you're protecting is brand new. If one of your appliances should turn out to be a lemon, for example, you don't want to have to pay to replace it when you're already working hard to pay down your mortgage. Before you move into your new home, it's important to understand the warranties that are available to you so that you can take advantage of the options that are best for your situation.

It's Good to Have a REALTOR®

Even when buying a new construction home straight from the developer, it's a good idea to have a REALTOR® to represent you. A real estate professional can help make the paperwork process much easier and ensure that you've completed all the small details to make your transition into your new home far smoother. Plus, a REALTOR® will ensure that you're getting a fair price and you didn't miss any details that could turn out to be problems later on.

Even when the completion of your home seems a long way off, the reality is that moving into a new construction home is usually worth all the effort involved. Knowing that you're the first family to make memories in a home serves as a daily reminder of the hard work that has gotten you to this point. Plus, with the right planning in place, buying a new home can be as simple as buying any other home!

Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, N.M. She recommends new construction homes. For more information, contact Chaplan via Facebook at facebook.com/brooke.chaplan or Twitter @BrookeChaplan

 

Sunday, July 5, 2020

COVID-19 Safety

Share This Post Now!

(TNS)— If coronavirus disease (COVID-19) stay-at-home restrictions are easing in your community, you might wonder how to visit public places and protect your health. Here’s what you need to know.

Before You Head Out
Follow guidance where you live. In the U.S., activity restrictions vary among cities and states. Before you head out, check your city or state health department’s website for information about local restrictions aimed at preventing the spread of the COVID-19 virus.

The best way to protect yourself from the COVID-19 virus is to avoid exposure. If you go out, wear a cloth face covering. Keep a distance of about 6 feet (2 meters) from others if the COVID-19 virus is spreading in your community, especially if you have a higher risk of serious illness. Avoid close contact with anyone who is sick or has symptoms. Also, avoid large events and mass gatherings.

In addition, practice good hygiene. Wash your hands often with soap and water for at least 20 seconds, or use an alcohol-based hand sanitizer that contains at least 60 percent alcohol. Cover your mouth and nose with your elbow or a tissue when you cough or sneeze and then wash your hands or use hand sanitizer. Also, avoid touching your eyes, nose and mouth.

If you feel sick, stay home. Don’t visit public areas unless you’re going to get medical care. Avoid taking public transportation if you’re sick.

And if you’re at higher risk of serious illness, don’t head out into the community just yet. It’s safer to stay home. If other members of your household return to work or visit places where social distancing isn’t possible, it’s recommended that they isolate themselves from you.

Safety Tips for Public Places
Beyond taking general precautions to prevent COVID-19, consider specific safety tips for visiting different public places.

Traveling
Before traveling check the websites of the U.S. Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO) for health advisories and self-quarantine requirements. Consider checking the U.S. Transportation Security Administration’s website and your airline’s website for additional guidance.

Consider the risks associated with different types of travel. There might be a risk of getting the COVID-19 virus on a crowded flight if other travelers on board are infected. On a bus or train, sitting or standing within 6 feet (2 meters) of others for a prolonged period can put you at risk of getting or spreading the COVID-19 virus. Traveling by car or recreational vehicle often involves stops that could put you in close contact with infected people.

If you’re planning on booking a hotel room, check the hotel’s website to learn about precautions being taken and if amenities, such as the gym or restaurant, will be open. Bring cleaning supplies with you. When you get to your room, disinfect all high-touch surfaces, such as light switches, sink faucet handles, door knobs and the remote control. Wash plates, cups or silverware (other than pre-wrapped plastic) before using. Also, confirm the hotel’s cancellation policy before making a booking.

Restaurants
Before you eat at a restaurant, check the restaurant’s safety practices. Are the employees wearing cloth face coverings, regularly disinfecting high-touch surfaces and practicing social distancing? Is there good ventilation? Are tables set far enough apart from each other to allow for social distancing? Is the menu digital or disposable?
Ideally, the restaurant won’t offer salad bars, buffets and drink-filling stations that require people to use common utensils or dispensers. If you need to wait in line for service, maintain a distance of at least 6 feet (2 meters) from others. If possible, use touchless payment.

When ordering takeout, try to pay online or over the phone to limit contact with others. If you’re having food delivered, ask for it to be left outside your home in a safe spot, such as the porch or your building’s lobby. Otherwise, stay at least 6 feet (2 meters) away from the delivery person. If you’re picking up your food at the restaurant, maintain social distancing while waiting in the pickup zone. After bringing home your food, wash your hands or use hand sanitizer.

Places of Worship
Before going to a place of worship, check to see if the size of gatherings is being limited and how that might affect your visit. Seek out services held in large, well-ventilated areas. Continue social distancing during services.

Also, avoid contact with frequently touched items, such as books. Place any donations in a stationary collection box. If food is offered at an event, look for pre-packaged options.

Gyms
Before going to the gym, call to see if it’s limiting how many members are allowed in at the same time. You might have to reserve a block of time in advance, with staff cleaning the facility between blocks. Ask about the facility’s cleaning and disinfecting policies and whether you’ll be able to use the locker room or bathroom. If you are interested in group exercise classes, ask if they are being offered.

Your gym will likely enforce social distancing by blocking access to every other cardio machine. Follow the gym’s guidelines and stay at least 6 feet (2 meters) away from other members. Clean equipment before and after using it. Some equipment that’s difficult to clean, such as foam rollers and yoga blocks, might not be available.
If you’re at higher risk of serious illness, you might consider waiting to return to the gym. Ask if your gym offers virtual classes or training.

Salons
When making your appointment, ask about safety measures. You might be required to attend your appointment alone, wash your hair at home to reduce traffic near the shampoo area, and wait in your car or outside until your appointment begins. In addition, you might ask whether the salon is offering blow drying. Eliminating blow drying could reduce the spread of germs.

Ideally, the salon will stagger appointments to limit how many people are in the facility at the same time. You might ask about the salon’s disinfecting practices. Is the staff regularly wiping down high-touch surfaces? Are chairs and headrests disinfected after they are used? Is the staff wearing cloth face coverings and regularly washing their hands? Are they wearing single-use gloves for nail and facial work? Also, look for touchless payment options.

Grocery Stores
Before going to get your groceries, consider visiting the chain’s website to check on the precautions being taken. For smaller businesses, call the store.

To make social distancing easy, visit the grocery store early in the morning or late at night, when the store might be less crowded. If you’re at higher risk of serious illness, find out if the store has special hours for people in your situation and shop during these times. You might also consider ordering your groceries online for home delivery or curbside pickup.

At the store, disinfect the handle of the shopping cart or basket. Stay at least 6 feet (2 meters) away from others while shopping and in lines. If possible, pay without touching money or a keypad or use hand sanitizer after paying. Also, apply hand sanitizer after you leave the store. When you get home, wash your hands.

©2020 Mayo Foundation for Medical Education and Research
Distributed by Tribune Content Agency, LLC