Home sales increased and reached their highest in almost a year this past December. The increase in sales compliments an improved housing market. Analysts have said that the sales will remain low for a few more years until it goes back to a good level. There were a three straight months of an increase in home sales last year, and signs point to that continuing into this year. Prices are low, and mortgage rates are even lower. Home builders are hopeful, because more families will have an opportunity to buy a home this year. Home remodeling even increased in the third quarter of last year.
It is certainly true that home sales are low overall, compared to 5 years ago, and will continue to be low for some time. Still, sales of previously owned houses rose to 5% in December – its highest level since January 2011. Corresponding to this great news is that the job market also has improved. It goes without saying that this is vital for a housing market rebound. In December, the unemployment rate fell to its lowest in almost three years. Layoffs have started going down, while hiring is on the rise. This, in turn, is helping consumer confidence. Home sales may continue to rise as everything is falling into place. The average sales price of previously owned houses went up from November to December by 0.3 percent.
Sales across the U.S. are increasing, and it was an increase of 10 percent in the Northeast, 8.3% in the Midwest, and 2.9% and 2.6% in South and West respectively. The number of unsold homes is going down, and they can be sold quickly based on last month’s selling pace. Home sales are increasing at a time when other economic standards are also going up. This signals an improving health to our economy. Mortgage rates are at their lowest, and home construction is increasing. The housing market needs a few more years to recover, but it is looking good right now. Here’s to hoping for the best.
A home’s curb appeal is the total look of your house from the outside as viewed by other people. It is the first impression a house gives during the first visit. The aspects included in this first look are the landscape, lights, paint colors, architectural structures, and house design. This is not limited to the front view of the house, but also to the sides and back as well. For home buyers, good curb appeal is one most important factors that get them interested in your property. If the curb appeal is good, it can pique the buyer’s interest.
Your home’s curb appeal can be setup by remembering some major guidelines: The design of your house is an important part of curb appeal. Install a good lighting scheme; an interested buyer may want to see the look of the house at night with the lights on. They might also take a look at the garage, garden and patio during nighttime. Whatever lights you are going to install, make sure it balances everything, including making sure that all spaces are well lit. The railings on the porch should be in good condition, and be safe for use. Check for any broken parts, like a nail that is showing, unfastened screws, paint that is wearing off or small holes in the wall. Clean hallways, pathways, sidewalks, the driveway and everything that is visible for potential buyers and guests. Clean windows, walls, the roof and gutters. Paint may wear off as time goes by. Painting your house anew, exterior and interior, will freshen up the look of your home.
A well-maintained lawn and garden shows that the owners of the house are neat and clean. It shows pride in possessing the home. A garden is also a part of the house; you should decorate it as you would inside your house. Trim grown plants and trees. Mow the grass and trim the bushes. Keep garden tools and equipment neatly put away and out of sight. Although it seems unimportant, the house number is also important, but is often neglected. Make sure that the house number is visible from the outside. To ensure that your house has the total wow factor to prospective buyers, you may opt to hire a professional to take care of everything regarding your home’s curb appeal.
The housing market in 2012 will vary widely from neighborhood to neighborhood with some doing much better and some doing much worse than the overall average. Thus, it’s hard to make general statements about housing across the country in 2012.
Some housing experts say that the yearly forecast shows continued growth for the market. This is especially true in the most desirable neighborhoods. Price stability also looks to be more stable. Condominiums and apartments will surge even with the construction and development of new subdivisions. They say that this could be the best year both for sellers and buyers since 2006; again, depending on the neighborhood. Housing has been flat for many years, but it will improve as developers begin to start new projects. Foreclosures will continue to be a problem, and will still affect many markets especially in the West. After a brief slowdown with foreclosure processing, they have begun to pick up once again. This looks to be the one issue that could potentially derail any uptick in housing.
However, some of the positive signs that the country’s housing market is improving are as follows: the jobs market is looking up, housing sales and construction have been showing recent signs of improvement, business sales and profits are rising, and many consumers are in better financial shape today than they’ve been in the past few years. The growth of the housing market is forecasted due in large part to the increasing number of newly-built homes, a slowly rebounding job market, and the rapid growth of population that needs housing. The latter being one of the reasons rental properties in high demand. Good news for the housing is that job layoffs have been steadily declining along with the unemployment rate. Most real estate analysts agree that the jobs and housing markets go hand in hand. As more people find work, they are better able to qualify for a mortgage, and are more likely to buy a home.
Home construction has finally begun a gradual comeback and should add to the nation’s economic growth, a turning point in the recovery from the recession that much of the world has suffered.
When you are planning to build or buy a home or renovate your current home, one thing you have to think about is the interior designer you would hire to work on the interior look of your home. Interior designers are essential in home renovations and home building since they are experts regarding design. They will be able to give you good input as to how to better plan your inside space’s design. However, hiring an interior design is a tough task, so you should consider a lot of things before you decide on whom to hire. With these tips, though, you will have an easier time when it come time to hire an interior designer.
- Ask for referrals. The first way to start is to ask referrals of interior designers from your friends, from real estate agents, or from your neighbors. Inspect the homes of friends and neighbors that you like and then ask them the interior designers that helped them conceptualize their homes. After having a list of referrals, you can research further by searching these interior designers via the internet. Their websites will have photos of their work that you can see.
- Research the cost. Almost everyone has a budget when it comes to home renovations. Aside from looking for the interior designer that you want to use, you also need to consider who will give you the best deal. What you need to do is research and compare the prices of these designers. You can get an idea by asking your friends or neighbors who were past clients of a particular interior designer that you are considering. Then you need to compare these prices to the average cost of other designers in your area.
- Once you hire an interior designer, let him or her refer you to contractors. You see, it is all about networking and referrals. An interior designer is likely to have a short list of contractors they trust to do good work. Consider their referrals as this can translate into faster decisions and more efficient work.
Buying a house is something people think about a lot before actually deciding to go through with it. Your home is more than just a place you live in, and it is actually a place where you could possibly spend the rest of your life. Buying a home is not something you decide to do on a whim.
Selling a house is just the same. You need to consider a lot of things when selling your old home once you have decided to buy a new one. Because where you live plays such a vital part in your life, you should make sure that potential buyers of the house you are selling would be inclined to spend their life there. And, of all the things you should consider when selling your home, aesthetics is one of the most important.
Good interior design should be one of your top priorities when selling your home. Make sure your design is good, and is something potential buyers would actually like. You want them to feel at home, and for the home to be worth the cost. After all, who is going to spend that much for a home they cannot stand living in?
For those who are selling their home, here are some things to consider, aesthetically:
- The location of your home. When you live in a home, you do not only want the insides of your home to be peaceful and beautiful. You also want the environment outside to be as well. Make sure your potential buyers would like the area or the environment they would be living in.
- The style of your home interior. People don’t want to have to put in a lot of work as soon as they move in.
- The landscape style of your property. Think about the convenience, accessibility, and overall look when thinking about landscaping.
- The durability of the house, in general. Make sure the house, the materials used in the construction and the design itself would be able to stand up to normal wear and tear.
Every borrower has rights when entering into a loan contract. Knowing your rights before going into any loan agreement is necessary for you to know what to expect. You have the right to choose the best mortgage for your situation. You can select the best one by looking for options, and balancing the pros and cons of each lender. Each lender may offer different deals and have different fee structures. You just have to compare their proposals, and chose the best one that will fit your budget.
Part of your rights as a mortgage borrower include that you should be aware of your total loan contract. This includes the principal amount, interest rates, loan period, points and fees and any other similar issues. Inquire about a “Good Faith Estimate”. This shows the estimated cost of the total loan agreement, including the premiums and interest. Actual cost may differ from the estimated cost so make sure you work with your lender to get it as close as possible. Good Faith Estimates can also be a basis when comparing different lenders. In case of a change in decision like cancelling the loan agreement, knowing which fees are refundable and which are not is also your right.
Knowing exactly how the mortgage broker can help you is also your right. Your mortgage broker should provide you a clear understanding as to what extent they can help you throughout the loan process. You should also have a clear understanding of the broker’s fees, payment schedule and the lender’s charge. In this way, you can prevent any misunderstanding with your lender. Ask your loan provider for a list of charges and other loan terms that you don’t understand. Things like interest rates, loan duration, methods of payment, etc. are things you will want to get. They are the best person to ask because it is their job to know the ins and outs of what they offer. It is also your right to discuss anything about the loan agreement that is not okay with you. For example, a credit decision that you feel may be based on your religion, race, age, marital status, etc.
Loan providers should inform you whether or not your loan was approved in a timely manner in the event you need to look for another lender. Finally, they should provide you with a settlement cost booklet for comparing your estimated and total mortgage costs.
Only a few years ago 5th and Main was one of the most anticipated condo developments in East Nashville. Unfortunately, it was completed right before the housing market got the wind knocked out of it and ended up in receivership.
However, there was an announcement several weeks ago that this wonderful urban Nashville condo development has come out of receivership. The new owner of 5th & Main in East Nashville placed 25 units on the auction block at the astounding price $95,000 and, as of this week, have sold those, which is fantastic! And, this was without the much coveted FHA financing.
If you don’t know what FHA financing is it is worth your time to explore this type because it allows an owner-occupant borrower to purchase with as little at 3.5% down plus closing costs. It is my understanding that while FHA financing approval is in the works, the lender is offering initial portfolio loans to qualified buyers. This does require a 20% down-payment.
Though the initial auction was held on November 5th, you can still go in and set appointments to see the units left that are currently selling for $119,000 and up. The rules state that you must be accompanied by a licensed realtor on your first visit. I would be happy to set this up for you if you are interested in a wonderful urban condo in East Nashville.
If you are not familiar with East Nashville and would like to explore this area of town, let me know. I would love the opportunity to introduce to one of my favorite areas in the Middle Tennessee area. If you go to the East Nashville section on the website, you will listings for the varied 4 and 5 start restaurants as well as the many quaint coffee stops and other shops. If you want additional entertainment all you have to do is cross the river and go downtown where you can see just about everything from concerts to sporting events.
Just one look at East Nashville and you will know why so many are drawn to this ever growing unique area.
55 plus communities are gaining in popularity as the “Baby Boom” generation further ages. With this age group becoming one of the fastest growing groups in the country, the places we live when we grow old are beginning to change. Instead of living in the same house for the rest of their life, many newly minted “seniors” are looking to downsize their home. It makes a lot of sense, after all, because with many of this generation living in an empty nest, the extra space just isn’t necessary.
It is important to remember that these 55 plus communities are not necessarily retirement communities, nor are they assisted living facilities. While those are necessary in some cases, many people find there to be a stigma with living in a community that is strictly for seniors. However, if you take some time to look at what these facilities can provide, you just might change your mind.
Many of these communities offer spacious pools for their residents to relax and unwind. Another common feature among these communities is a top notch weight and fitness facility and community activity room. Many are situated right on a golf course, where a nine or eighteen hole round is just around the corner. The bottom line is these are not your grandmother’s retirement living spaces. These are top notch communities that amount to a great neighborhood of people that are in the same age and stage in life.
So, when you or your parents are beginning to enter their 55 plus years, don’t dismiss the thought of living in a 55 plus community out of hand. It can be just what you or your family member needs, and it is also a great investment. Remember, as our population ages, the demand for such residences is only going to go up. If you have any questions about these types of communities in the Middle Tennessee area, don’t hesitate to contact me. I’ll be happy to answer any questions you may have.
You might be wondering whether buying a home at real estate auctions is a great option or not. This is especially true when we watch news of the economy and the way it is evolving each day. You might feel discouraged due to the high prices. However, buying a home at real estate auctions is the way to go for some of us. Banks and other financial institutions put properties that they have seized on the auction block all the time. They are trying to recoup any losses and sometimes you can get a great deal. You might be able to purchase a condo, home or apartment below its appraised value.
Real estate agents and developers often go to these auctions to pick up some good investment properties because they are in tune with the market. You can buy foreclosed properties and these can have some advantages as well as disadvantages because you don’t always have an insight into what the property currently looks like. These properties are sold “as is” most of the time so buyer beware. You can also get some tax credits if you buy a home that has some historic interest. The savings can be used for the restoration of the property. You can find the information you need for these types of auctions. There are many real estate search engines online or you can go through a Realtor. You also need to know As Much of the details of the property before taking it into consideration. As long as you go about it with your eyes wide open, buying a home with real estate auctions is a great option.
You can sometimes get a very low price if you buy your home in an auction. The deep discounts that you can find here are not often found anywhere else. You can also find auctions without a reserve price if you are looking for that. With these types of auctions, you will have more odds to get a cheaper property. Some foreclosure auctions will allow you to inspect the property. If you can you need to inspect the property before bidding. This is very important because there are auctions where there is no time to inspect the property and you get what you get. You should avoid bidding on these types of properties if at all possible.
Fall gardens don’t have to be dreary and bland. Even though you will have lots of work to do preparing the soil and plants for the upcoming cold season, you can still enjoy the color explosion given by the very best flowers that bloom in autumn.
Chrysanthemums are the most commonly seen fall flowers. They come in a wide variety of shapes and colors, and they are highly resistant to the cool weather that comes with the fall. Normally, you would plant them in spring, but they will also work if need to plant them in the fall. Just buy potted chrysanthemums and replant them. You can even keep them in their pots, if you intend to use them as a temporary solution for one season only.
Lilies make a spectacular addition to the landscape, and the toad lily, with its dramatic orchid-like shape, blooms in late summer and mid-autumn. It can be planted in shaded areas, and requires generous amounts of water at least twice a week. You can compliment the toad lily with a patch of its crazier cousin, the red spider lily, for one of the most original and decorative combinations. Once the temperatures get lower, you need to cover the lilies with fresh mulch to protect them.
Shrubs and sub-shrubs are among the best plants to use in a fall garden. The blue mist shrub will bloom in late-August, proudly displaying its flowers. As an added bonus, its silver-green foliage remains attractive all-year round. You can compliment it with golden witch hazel or pink sedum (which, by the way, is also known as “autumn joy”).
So, now that your garden has flowers and shrubs, it only needs something to cover the ground. You can go with the Michaelmas daisy, which comes in wide varieties, and will continue to bloom until snow covers it. Be careful, though, because it tends to grow everywhere, and it will cover every patch of soil left unused. You can also go with leadplant, another very resistant ground cover, that blooms charming little blue flowers.
Whatever you choose, go ahead and start your fall garden. It’s not too late!
