Recovery Remains Uneven as Cities Spared in Bust Soar, but Many Others Struggle Home prices have zipped back into record territory in a handful of American cities, a milestone that comes seven years after the housing bust ravaged the market and the broader economy. Values are up more than 13% from their 2007 high in Oklahoma City and by more than 6% in the Denver metro area. Prices are back to all-time highs in 10 of the nation's 50 largest metropolitan areas, according to a Wall Street Journal analysis of … [Read more...]
Archives for 2013
10 Things Architects Want You to Know About What They Do
December 4, 2013 by Leave a Comment
Houzz.com recently spoke with two Best of Houzz architects, Nils Finne of Finne Architects and Michael Coates of Coates Design, to get the inside scoop on what architects do, where they find inspiration and what you should know before you hire one for your project. Here are 10 of their insights. What do architects do? Architects plan and design buildings and coordinate construction. Most U.S. states require licensed architects to have specialized education and experience and to pass a rigorous … [Read more...]
US construction spending up 0.8 percent in October
December 4, 2013 by Leave a Comment
U.S. developers boosted construction spending in October at the fastest pace in more than four years, propelled by a surge in government projects. But spending on home construction and commercial projects both fell. Overall construction spending increased 0.8 percent in October to a seasonally adjusted annual rate of $908.4 billion, the Labor Department said Monday. That’s up from September, when spending fell 0.3 percent. The October pace was the best since May 2009 and was driven by a 3.9 percent surge in … [Read more...]
Nearly Half of States Within Reach of Peak Home Prices
December 4, 2013 by Leave a Comment
Twenty-three states are within 10 percent of their 2006 home price peaks, CoreLogic reports in its latest housing data report reflecting October data. Home prices have increased 12.5 percent year-over-year. However, prices had a more modest month-over-month gain of 0.2 percent from September to October. CoreLogic’s Home Price Index also reflects distressed sales. “In terms of home price appreciation, the housing market appears to be catching its breath as we head into the final months of 2013,” says Anand … [Read more...]
Mortgage Rates Fall to Lowest Levels Since June
November 1, 2013 by 1 Comment
For the second consecutive week, fixed-rate mortgages declined, lowering borrowing costs and helping to alleviate some signs of softening in the housing market, according to Freddie Mac's weekly mortgage market report. The 30-year fixed-rate mortgage averaged 4.10 percent this week, its lowest average since June. The Federal Reserve announced this week after its monetary policy meeting that it would be keeping its $85 billion per month bond-buying program in place for now, which should help sustain low … [Read more...]
4 Ways to Know Whether to Sell or Stay Put
October 24, 2013 by Leave a Comment
Every real estate market creates its own buyer and seller personas, or profiles. When the market is slow and prices are low, it brings out 'the wheeler-dealer' and 'the lowballer,' as well as the 'paralyzed panicker' in some buyers. But sellers aren’t immune. And in a warm or hot market climate, the rise in home prices makes some sellers wonder whether they should exercise the freedom of finally having some home equity and make a move, or if it's a better idea to stay put in hopes they can sell for more, next … [Read more...]
Metro Phoenix housing: Homebuyer revival transforms market
October 24, 2013 by Leave a Comment
In a good sign of the times, real-estate agents are predicting a proliferation of for-sale signs on front lawns. The metro Phoenix housing market is shifting away from investors for the first time since the market crash, leaving more properties available for traditional buyers. And the market appears neither overstressed nor overheated, heading instead toward a more natural balance. Thousands of prospective sellers, once worried about losing money on their houses, have listed their properties after seeing … [Read more...]
What to Ask Before Choosing a Hardwood Floor
October 24, 2013 by Leave a Comment
So you’ve decided to get hardwood floors. Easy enough, right? Pick a wood and be done with it. Not so fast. There are a lot of factors that will determine what kind of hardwood floor your home can accommodate, and what will look best with your existing or planned furnishings and decor. You have some basic options: solid wood and engineered wood. Solid wood is what you generally think of as a hardwood floor: thick, solid planks of wood. Engineered wood is made of a veneer layer that sits atop a core of … [Read more...]
U.S. mortgage applications dip, but purchase demand edges up
October 24, 2013 by Leave a Comment
Applications for U.S. home loans dropped slightly in the latest week as decreased refinancing activity offset a slight rise in demand for purchase loans, data from an industry group showed on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 0.6 percent in the week ended Oct. 18. That followed a gain of 0.3 percent in the previous week. The figures came against the backdrop of a U.S. … [Read more...]
Smart Investments in Kitchen Cabinetry
September 17, 2013 by Leave a Comment
The kitchen is the most expensive room in the house to build. The national average cost of a kitchen remodel is $50,000, though the real cost can vary widely, depending on where you live, the scope of the project and the materials you choose. New cabinetry can take up much of that expense. Make the most of this big purchase by treating your new cabinets as an investment.Realtor Victoria Gangi offers insider tips on how to get the best return on your cabinet investment, even if you're not moving in the … [Read more...]
