What’s In and What’s Out in Home Trends?

Builders are slowly switching focus from the $500,000-plus luxury market to more moderate price points, particularly when it comes to single-family move-up homes; and the shift is influencing the types of materials and upgrades becoming popular in new homes, according to Home Innovation’s 2017 Builder Practices Survey.

It turns out that high-end materials aren’t limited to construction of luxury real estate.

What’s In:

Crazy for quartz. Despite being one of the priciest products on Home Innovation’s list of building materials, quartz had its best year in 2016. Quartz surfaces in the bathroom appeared in 13 percent of new homes last year, up from 9 percent in 2015. In the kitchen, quartz countertops were even more popular, appearing in 15 percent of new homes last year compared to 9 percent in 2015.

Nickel gains ground. Nickel faucets are also gaining popularity in kitchens, outselling stainless steel, chrome, and bronze. In the bathroom, nickel is also being used more often, though it fell just shy of chrome in popularity.

Hardwood, vinyl are tops for floors. High-end solid hardwood and luxury vinyl tile are popular for kitchen floors. But engineered hardwood and ceramic tile each rose by 3 percentage points in market share.

What’s Out:

No more bubble baths? The jetted tub is continuing to lose favor, going from being installed in about 15 percent of new homes in 2015 to 11 percent in 2016.

Granite and marble are on the outs. The share of new homes with natural granite and marble showers and bathtubs dropped from 12 percent to 9 percent last year. High-end enameled cast iron and granite sinks also lost favor. Lower- to mid-range vitreous china and enameled steel sinks each increased in popularity.

 

Thinking about doing any updates or projects to your own home, but not sure what brings back the best value? Contact me. I’m happy to let you know how the projects you do today could bring back value when you sell tomorrow. And if you’re wanting to see what’s for sell in the current market, visit my website now where you can search all the homes currently available in the market.

 

Source: “New Survey Predicts Market Shifts,” BUILDER (Aug. 4, 2017)

Orlando Housing Snapshot – August 2017

A change is in the air. Housing inventory is still low, but demand is starting to slow. So it may be the perfect time for you to still get a high value on your current house, but not have to compete as a buyer with dozens of other buyers for your new home. Cash in on the value your house has currently. Don’t know what your house is worth? Get a free instant market analysis of your home’s value on my website. And if you know anyone thinking of buying or selling a house, contact me today.  I’m always happy to help.

Orlando Housing Snapshot – July 2017

We are starting to see the beginning signs to a change in the housing market. Housing inventory is still low, but interest are starting to put a little bit of a stall on demand. It is still a very competitive market, so if you are thinking of selling, don’t delay. You are not likely to see your values increase over the next 12 months as much as they have over the past 12 months. Wondering what your house is worth? Get a free instant market analysis of your home’s value on my website. And if you know anyone thinking of buying or selling a house, contact me today.  I’m always happy to help.

Orlando Housing Snapshot – June 2017

Housing inventory is extremely low right now, allowing homeowners to get top dollar for their home much faster than normal. The average days a house is on the market is 13 days less than it was this time last year, and single family home values are up 7% than where they were a year ago. My marketing is different than most Realtors, with my average time on market for 2017 being just a week! If you’re considering a move, right now is a great time to get top dollar for your house. Get a free instant market analysis of your home’s value on my website. And if you know anyone thinking of buying or selling a house, contact me today.

Orlando Housing Snapshot – May 2017

Housing inventory is extremely low right now, allowing homeowners to get top dollar for their home much faster than normal. The average days a house is on the market is 5 days less than it was this time last year, and single family home values are up 11% than where they were a year ago. And my marketing is different than most Realtors, with my average time on market for 2017 being 9 days. If you’re considering a move, right now is a great time to get top dollar for your house. Get a free instant market analysis of your home’s value on my website. And if you know anyone thinking of buying or selling a house, contact me today.

Orlando Housing Snapshot – April 2017

Housing inventory is extremely low right now, pushing prices up 11% higher than they were at this time last year. If you’re considering a move, right now is a great time to get top dollar for your house. If you want to know what your house is worth in today’s market, get a free instant market analysis of your home’s value on my website.

Orlando Housing Snapshot – March 2017

It happened this week, just as I mentioned it would in my post last month—the Federal Reserve has increased interest rates for the 1st of possibly 3 times this year.  We are expecting the next increase likely in summer time. Waiting until summer to buy a house could cost you $50-$100 more on your monthly mortgage, just in interest! If you’re given any thought to wanting to buy a house, now is the time. Start your search on my website now.  For sellers, the good news is we are seeing a surge in buyer interest and low inventory. Right now is a great time to get top dollar for your house before interest rates go up and possibly slow the housing market. If you want to know what your house is worth in today’s market, get a free instant market analysis of your home’s value on my website.

Don’t Do These 4 Risky Mortgage Moves

I sometimes see Homebuyers sabotage themselves because of the decisions they make as they get excited about purchasing a new home—especially in the time from when they get their offer accepted and the time while they work on getting final loan approval. While you shouldn’t even look at homes until you have a solid pre-approval letter, having a pre-approval doesn’t always equate to loan approval, and you can still mess up things.

Take a look at these four risky behaviors and make sure you do not jeopardize your loan approval.

1. Don’t apply for credit: This means you don’t go car or furniture shopping. Don’t even apply for new utility providers or any other form of credit. Even if you don’t take on more debt, the inquiries could damage your credit score.
2. Don’t move money around: Any money movement will be closely scrutinized just before closing. If you are getting a gift to help you with closing costs, have them wire the money directly to the title company and make sure your mortgage company has any gift letters they require.
3. Don’t change jobs: If an amazing opportunity shows up, try to delay the job change until after closing. The mortgage company wants to see stability and will typically require you to be on a job for a minimum of 30 days. They will often ask for a pay stub and verification of employment. If things change, it could delay or destroy your ability to get a mortgage loan.
4. Don’t put off filing recent tax returns: Lenders want to see your latest financial information, including your tax returns. Do your taxes as soon as you can and it will make it easier to gather up what you need to apply for a mortgage. AND – if you get a tax refund, don’t spend it until closing. Set it aside for expenses like a down payment, closing costs and other things you will need to move into your new home. It will show the loan company you are very responsible with your money.

If you are considering starting a house hunt and want some additional advice on how to best prepare yourself for a mortgage, contact me. I’ve also got a great lender contact who provides amazing customer service and can help you get pre-approved. In the meantime, feel free to start to look at some homes online and start a house hunt on my website.

 

Adapted from Your Houston News, The Woodlands, TX; The Courier, Marion Franke, real estate columnist, Copyright © 2017

Orlando Housing Snapshot – February 2017

We’ve been warned by the Federal Reserve that they are planning 2 to 3 “strategic” interest rate increases throughout the year, that will have an impact on mortgage interest rates. Waiting until summer to buy a house could cost you $50-$100 more on your monthly mortgage, just in interest! For sellers, rising interest rates could begin to stall home values.  If you’re wanting to sell, sooner rather than later will be key in getting your house sold quickly. In fact you can get a free instant market analysis of your home’s value, by clicking here.  If you are looking to buy a place, don’t wait until interest rates go up. Seize your last best bargain interest rates now.  Contact me today for real estate info specific to your needs.

3 Reasons Why Using Realtor Is Better Than Selling Your Home On Your Own

The are 3 main reasons why using a REALTOR to sell your house is better than doing it yourself.  More money to you, less time on the market, and far less stress to your family and home. Take a look below. And if you’d like to know what your house is worth in the current market, my website can give you a FREE home valuation instantly.