5 Housing Trends to Watch for 2018

Home shoppers may have it easier in 2018. Inventory constraints of for-sale homes and rising home prices may finally start to ease next year, according to realtor.com®’s 2018 National Housing Forecast.
“Next year will set the stage for a significant inflection point in the housing shortage,” says Javier Vivas, director of economic research for realtor.com®. “Inventory increases will be felt in higher priced segments after spring home buying season, which we expect to take hold and begin to provide relief for buyers and drive sales growth in 2019 and beyond.”
But the big wild card for 2018 will be any impact from the proposed tax reform legislation, which is currently being debated by Congress, realtor.com® adds.

Here’s a closer look at realtor.com®’s five housing prediction trends for 2018:

1. Inventory to start increasing: Realtor.com® projects positive year-over-year inventory growth by the fall of 2018—which will be the first time since 2015. “Inventory declines are expected to decelerate slowly throughout the year, reaching a 4 percent year-over-year decline in March before increasing in early fall, after the peak home-buying months,” realtor.com® notes in its report. The cities expected to see inventory levels recover first are Boston; Detroit; Kansas City, Mo.; Nashville; and Philadelphia. The majority of this growth will be in the mid- to upper-tier price points (which includes homes priced above $350,000). On the other hand, recovery in the starter home market likely will linger since levels are “significantly depleted by first time buyers,” realtor.com® notes.

2. Price appreciation to slow: Home buyers likely will see home prices moderate in the new year. Realtor.com® forecasts home prices to slow to a 3.2 percent growth year over year nationwide. For comparison, home prices in 2017 posted a 5.5 percent increase. The majority of the slowing price appreciation will be centered in the higher-priced ranges as more inventory becomes available. Entry-level homes, on the other hand, likely will continue to see price gains due to a larger potential buyer pool as well as a more limited number of homes available for sale in this price range.

3. Millennials to gain market share: Finally, the long-held predictions may hold true. Millennials may reach 43 percent of home buyers taking out a mortgage by the end of 2018, up from an estimated 40 percent in 2017, realtor.com® projects. The largest cohort of millennials are expected to turn 30 in 2020. “Millennials are a driving force in today’s housing market,” Vivas says. “They already dominate lower price home mortgage and are getting close to overtaking older generations for mid- and upper-tier mortgages. While financially secure in general, their debt to income ratios have started to increase as they compete for higher priced homes.”

4. The South to lead in sales growth: Realtor.com® forecasts that Southern cities will top national averages in home sales growth in 2018. Markets like Tulsa, Okla.; Little Rock, Ark.; Dallas; and Charlotte, N.C., are expected to be the highest performers.  Sales in these markets are predicted to increase by 6 percent or more. Nationally, sales growths are predicted to grow by 2.5 percent. “The majority of this growth can be attributed to healthy building levels combating the housing shortage,” realtor.com® notes in its report. “With inventory growth just around the corner, these areas are primed for sales gains in years to come.”

5. Tax reform wild card: Tax reform could dampen 2018 sales and price forecasts, realtor.com® reports. The U.S. House has passed a tax bill, and the Senate likely will vote on one soon. “While the ultimate impact of tax reform will depend on the details of the plan that is finally adopted, both versions include provisions that are likely to decrease incentives for mobility and reduce ownership tax benefits,” realtor.com® reports. “On the flip side, some taxpayers, including renters, are likely to see tax cuts. While more disposable income for buyers is positive for housing, the loss of tax benefits for owners could lead to fewer sales and impact prices negatively over time with the largest impact on markets with higher prices and incomes.” Read more: Tax Reform Proposals Threaten Homeowners and REALTORS® Square Up After House Passes Tax Bill

Daily Real Estate News | Wednesday, November 29, 2017
Source: realtor.com®

6 Outdated Features in Your Clients’ Homes

Home buyers say they want the latest design trends in their next property—but 70 percent admit to having outdated features in their current house, according to a new consumer survey by home builder Taylor Morrison. The most common of these outdated features are:

1. Linoleum floors (40 percent)
2. Popcorn ceilings (29 percent)
3. Wood paneling (28 percent)
4. Ceramic tile countertops (28 percent)
5. Shag carpeting (19 percent)
6. Avocado green appliances (8 percent)

“This is why real and virtual house hunting is so popular,” says Taylor Morrison Chair and CEO Sheryl Palmer. “We all love to daydream and envision ourselves in a beautiful new environment. But keeping up with ever-evolving preferences for paint colors, home features, new technologies, and how we expect to use our homes over the years is difficult. We also know that home interior preferences vary by generation, by home style, by region, and even by city.”
Taylor Morrison found that the features home buyers say they most desire are:

1. Better energy efficiency (62 percent)
2. Personalized floor plans (58 percent)
3. Easier maintenance (56 percent).

Also, the interior features home shoppers called most essential are:

1. Wood flooring (65 percent)
2. USB and Ethernet ports (44 percent)
3. Whirlpool tub (36 percent)
4. Sun room (34 percent).

Daily Real Estate News | Monday, November 20, 2017
Source: “Home Is Where the Shag Carpet Is?” BUILDER (Nov. 16, 2017)

This is just something to think about when you do decide to put your home up for sale. I hope you have a happy Wednesday folks.

4 Renovations That Grab Buyers’ Attention

Among the home improvement projects buyers are most likely to value are those that increase storage space and preserve vintage features. Southern Living magazine recently rounded up some of the renovations that get sellers the most attention for their properties, including:

Temperature-controlled square footage: “From the appraiser’s point of view—and really from everyone’s—heated and cooled square footage is the biggest winner” in terms of payoff, says Dewey Golub, a real estate pro with Keller Williams Realty in Charleston, S.C. That’s important to keep in mind for buyers who are weighing a garage, attic, or screened-in porch conversion.

Cosmetic kitchen tweaks: Southern Living says more buyers are turning away from busy backsplashes and jarring palettes in the kitchen, opting for a simpler subway tile backsplash and subdued paint colors for cabinetry. Los Angeles agent Ben Lee also suggests using stainless steel appliances to help modernize a dated kitchen. “They don’t have to be that expensive,” he says.

Vintage preservation: If the property has historical value, stay true to its character with projects such as restoring original window casements and hardware. “You want to respect the authenticity and the integrity of the home,” says Steven Jones of Better Shelter, a Los Angeles-based residential real estate development and design firm.

Plenty of storage: Organizational accents, such as built-in bookshelves and window seats with storage underneath, are not only practical but also offer “old-school charm,” Southern Living notes. When closet space is tight, consider adding storage solutions such as extra shelves, hooks, and rods. “If there is limited closet space, I always install an extra closet rod so people can increase their hanging capacity,” Jones says.

Source: “8 Home Upgrades That Always Pay Off, According to the Pros,” Southern Living (November 2017)

Daily Real Estate News | Monday, November 27, 2017

These are just a few ideas for you sellers to help grab a buyers eye when trying to sell your home.

This year give thanks and give back. Send in a Donation of $30.00 to buy food for one family in need this Christmas Season.

Home For Thanksgiving

The gathering family
throws shadows around us,
it is the late afternoon
Of the family.

There is still enough light
to see all the way back,
but at the windows
that light is wasting away.

Soon we will be nothing
but silhouettes: the sons’
as harsh
as the fathers’.

Soon the daughters
will take off their aprons
as trees take off their leaves
for winter.

Let us eat quickly–
let us fill ourselves up.

the covers of the album are closing
behind us.

by Linda Pastan

Have a safe and wonderful thanksgiving everyone!!!!

Thanksgiving is getting close. Use this guideline to help you prepare enough food for your family and friends.

If your looking to give this Thanksgiving think about donating to your local food shelf or soup kitchen. The gift of giving during the holidays can really cheer a not so fortunate person up.

Let’s be thankful today for the many blessings that god has given to us.

60 Things To Be Thankful For This Thanksgiving

Sometimes it’s easier to focus on what we don’t have, rather than what we do have. It’s important to take time out and remember all of the things to be thankful for that many of us take for granted.

1. Good Health
Even if you’re health isn’t great, it could be worse and you likely still have some working parts to be thankful for.
2. Money in the Bank
Having just a few coins makes you richer than most people on Earth..
Good Friends
Often, it’s the quality of friendships, not the quantity.
4. Freedom of Religion
Being able to worship whomever and however you want is something many people don’t ever experience.
5. Your Parents
Even if they’re dysfunctional, they gave you life.
6. Weekends
There’s something magical about weekends.
7.Having a Partner
Being in a romantic relationship can teach you so much about the world and yourself.
8. Pets
Pets offer one of the best examples of unconditional love.
9. Learning from Mistakes
If we never made mistakes, we wouldn’t learn much so it is one of those things we should be thankful for.
10. Opportunity to Get an Education
The opportunity to attend school is something many people don’t have.
11. Having a Home
Whether you live in an apartment, a mansion, or a tent, having a place to call home is something to be thankful for.
12. An Ability to Read
If you’re reading this right now, you have a lot to be thankful for.
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13. Breathing Fresh Air
Being able to step outside to breathe in fresh air is a good reminder how many little things we should be thankful for.
14. A Bed to Sleep
A bed is one of those things that’s easy to take for granted, until you don’t have one.
15. Laughter
Without laughter, the world would be a sad place.
16. Safety and Security
Being able to wake up without immense fear frees us up to really live life.
17. Cars
Without cars, it would take a lot longer to get our activities done.
18. Sunshine
The sun’s warmth can brighten any day.
19. Time
Although we often don’t think there’s enough of it, time is something we shouldn’t take for granted.
20. Clean Water
Many people on earth lack access to clean water.
21. Cell Phones
Cell phones make talking to loved ones easy.
22. Love
The world sure would be a different place if we lacked the ability to love.
23. Books
Books provide an opportunity to enter another world all from the comfort of your own home.
24. Kindness of Strangers
Never take the kindness of a stranger for granted.
25. Campfires
The simplicity of a campfire creates lifelong memories.
26. Pain
Without pain, it would be difficulty to appreciate life’s joys.
27. Art
The world would be less beautiful if art didn’t exist.
28. Holidays
Any reason to celebrate is something we should be thankful for.
29. Freedom of Speech
Being able to express your thoughts and feelings freely should never be taken for granted.
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30. Rainbows
The beauty of a rainbow is unmatched.
31. Tears
Sometimes when there are no words to say, tears express how we feel for us.
32. Waking up Today
Simply waking up today means you have things to be thankful for.
33. Indoor Plumbing
Indoor plumbing not only provides convenience, it spares us from disease.
34. Wisdom that Comes with Age
Thankfully, we grow smarter over time.
35. Mountains
Mountains provide us with beauty and recreation.
36. Eyesight
Being able to see allows us to view the world’s beauty.
37. Grocery Stores
Grocery stores mean we don’t have to spend all of our time getting our own food.
38. Sunsets
Sunsets are a reminder that we should enjoy the simple things in life.
39. Entertainment
Entertainment gives us a way to relax and enjoy life.
40. Your Mind
Being able to think, remember, and solve problems sure makes life easier.
41. Employment
Even if you don’t like your job, being employed means someone thought you were special enough to hire.
42. Diversity
The world would be a boring place without diversity.
43. Moon and Stars
The moon and stars encourage us to dream.
44. Electricity
Electricity makes most of our chores efficient.
45. Air Conditioning
Staying cool on a hot day is something people wouldn’t have dreamed about in past centuries.
46. Hearing
Being able to hear your loved one’s voice is something that not everyone gets to do.
47. Children
Watching children laugh, grow, and dream can keep things in perspective.
48. Ability to Learn
The ability to learn new things means we have endless potential.
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49. People Willing to Teach
Whether it’s your grandmother teaching you to knit or your plumber showing you how to prevent future problems, be grateful that others are willing to use their time and talents to teach you something new.
50. Oceans
The sea creatures in the ocean almost seem too mystical to be real.
51. Modern Medicine
Without advances in modern medicine, many of us wouldn’t be alive.
52. Music
Music brings out new emotions.
53. Entrepreneurs
Some of life’s best inventions resulted from an entrepreneur who was willing to take a risk.
54. Warm Clothing
On a cold day, there’s nothing more important than warm clothing.
55. Freedom to Vote
Being able to have a say in the laws should never be taken for granted.
56. An Internet Connection
It’s hard to believe how easy it is to take the internet for granted, seeing how none of us had just a couple of decades ago.
57. Challenges
Without challenges in life, we wouldn’t be the people we are now.
58. Hiking Trails
Hiking trails give us the chance to enjoy mother’s nature beauty.
59. Vaccines
Many of us wouldn’t be alive without today’s vaccinations.
60. Armed Forces
Our lives would likely be very different if we didn’t have protection from the armed forces.

I know that I am thankful for my family, friends and great clients without them my world would be a lonely place so I feel blessed to have them all in it. I hope everyone has a wonderful Thanksgiving…

1 Week Before: Pick Up Your Turkey
If you’ve ordered a turkey, now is the time to pick it up so you can be prepped to defrost it. If you haven’t planned for your turkey yet, purchase a frozen bird today so it will be able to defrost properly in the fridge.

3 Days Before: Defrost Your Turkey and Buy Perishable Ingredients
Thawing a frozen turkey takes time and patience. The best way is to thaw the bird in the coldest area of the fridge with a pan underneath to catch any drips (not on the counter). If you plan on brining (a simple, hands-off way to infuse your turkey with flavor), Anne Burrell’s recipe maximizes taste but minimizes prep with a no-cook apple cider brine. Now is also the time to brave the crowds and pick up any perishable items from the store.

2 Days Before: Make Cranberry Sauce, Pie Crusts and Pie
Try fresh cranberries instead of canned this year, and buy an extra bag when you’re in the produce aisle; they keep in your freezer for up to a year. Cranberry sauce can stay fresh in the fridge up to 2 weeks because of its high acidity, so make it now and refrigerate it in a jar or bowl covered in plastic wrap. If you didn’t freeze your pie crusts ahead of time, make them today and wrap the dough to store in the fridge. If you’ve prepped items and kept them in the freezer, take them out to defrost. This includes any pie crusts or stock you made in advance.

1 Day Before: Prepare Reheatable Side Dishes, Prep Ingredients, Bake Pies
Start to make sides that will reheat well, like casseroles or creamed onions. Prep garnishes, toppings, salad greens and stuffing ingredients. Cook soups and let cool before storing in the refrigerator if you didn’t freeze any options in advance. If your stuffing recipe calls for stale bread, cut the bread now and set the cubes on a baking sheet to dry out. You can go ahead and make your pies, especially Ree Drummond’s Pecan Pie that needs to cool overnight for a natural do-ahead dessert.

Thanksgiving Day: Don’t Stress! Stick to a Day-Of Plan
Preheat your oven in the morning and get your turkey going. If you premade bread, let it defrost at room temperature. Put your wine or beer in the fridge to chill. While the turkey roasts, prepare your other side dishes since they can stand at room temperature for an hour or keep in the fridge. When the turkey is done, let it rest while you make the gravy, reheat side dishes and prep salads.

I hope these ideas help you on you day or even week of prep for Thanksgiving Day.

Tips to Prepare Your House for Winter

1. Trim Trees
Take a stroll around your yard and examine your trees closely. Do you see any limbs that could possibly knock out power to your home? Do you see limbs that could hit your car if they broke off during a winter snow storm?
Take time now to trim any weak branches that look as if they could cause problems during winter storms. Trimming the trees during mild weather is much easier than trying to do it when it’s frigid outside.

2. Check Your Snow Blower and Stock Up
If you live in a particularly snowy climate, it is likely that you have a snow blower. Fill it up with gas, and start it up to make sure it works. Also make sure that your shovel is still in good condition; if not, pick up another one, along with salt or sand for your driveway. People often wait until the first big snowfall to buy these crucial supplies, and stores often run out, especially if a big storm is on the way.

3. Check for Leaks
Now that the nights have cooled down, you can probably locate drafts coming into your home. Find those leaks and seal them up before winter. Walk around your home on a chilly night and, using bare hands and feet, feel around your doors, windows, lights, and switch plates for cold air.
If you detect cold air leaking in, this means that your warm air is going outside. You need to either add insulation to these areas, or seal them using weather-stripping, caulk, or spray foam. I know this can seem like an annoying chore – after all, these tiny leaks can’t make that much of a difference, right?
Well, it all adds up. Energy Star estimates that sealing the leaks around your home can help you shave as much as 20% off your heating and cooling costs, thus making your home more energy efficient.

4. Check Your Furnace Filter
Before you start running your furnace, check the filter – it may need to be replaced. If your furnace filter looks dirty, then definitely replace it. During the winter months, I change my furnace filter every 4 to 6 weeks.
Having a clean filter helps your furnace run more efficiently, which can save you energy and money. According to Planet Green, a clean filter can save you 5% to 15% on your heating bill.
Additionally, if you haven’t done so already, consider upgrading your thermostat to a programmable thermostat. Installation is easy, and the ability to program your thermostat to only work when you need it can save more money on heating during the long winter months. This is just one of many green energy technologies that you can utilize for home improvement.

5. Insulate Pipes and Hot Water Heater
Have you insulated your water pipes and hot water heater? If you haven’t, this relatively easy project can help trim your water heating costs this winter, especially if your water pipes run through a chilly or unheated basement.
According to the Department of Energy (DOE), insulating your hot water pipes can help raise the temperature 2 to 4 degrees. This can allow you to get piping hot water on a lower setting, saving you both energy and money. The DOE also states that insulating your hot water heater trims 4% to 9% off your water heating costs.

6. Add Insulation
The DOE states that adding insulation is one of the best ways to save energy all year round. During the winter months, that extra insulation makes your home feel warmer. The best news? Adding insulation to your attic is quite simple.
I’m not great at home improvement, yet I completed a winter home improvement project two years ago that went off without a hitch. Adding insulation really paid off – my heat kicked on less frequently, which helped me save energy all winter long. Best of all, this home improvement project increases value.
How do you know if you have enough insulation, or if you need more? Use the DOE’s Insulation Fact Sheet; it tells you how much insulation you need (the R-value) based on your zip code. Most homes require 12 to 15 inches of insulation in their attic.

7. Get Your Chimney Cleaned
You probably haven’t used your fireplace since last winter. Before you use it on the first chilly night, you need to have your chimney cleaned by a professional.
In addition to increasing the heating efficiency of your fireplace, an annual cleaning also helps to ensure your family’s safety during the winter months. Chimney fires, a build-up of deposits, and animals nesting in your chimney make it unsafe to use. Having the chimney cleaned every year helps to eliminate these risks for fire in your home.
Chimney cleaners are busy during the fall and winter months, so call early before the temperature really starts to drop. That way you won’t have to wait to start your first cozy fire of the season.

7. Also before winter gets into full swing homeowners have the opportunity to act now to help prevent ice dams and costly water damage to ceilings and walls. The problem? Ice dams are primarily caused by the presence of warm air in the attic, combined with snow on the roof and the right weather conditions, with outside air temperatures near freezing.

Final Word
The thought of doing fall home improvement can make you groan. The fall season is exceptionally busy for many people, and it’s tempting to spend your free time enjoying the last few warm, sunny afternoons out in the backyard.
However, you can easily do most of these projects, and they’re more than worth the effort. In fact, not doing these projects in fall means you’ll likely have to bundle up and take care of them after the snow starts flying, when the cold and wind can make the tasks that much more difficult and unpleasant to do.
Have you completed winterizing your home? What other fall projects would you add to the list to prepare for cold weather? I hope this information is helpful to you as we will soon be hitting those below zero temperatures very soon.