Single adults will change the face of the housing industry The U.S. is becoming a nation of singles. According to the Bureau of Labor Statistics, half of all American adults live in one-person households, and this demographic is heavily influencing the companies that want to reach out to them. Restaurants are including more communal seating to be inclusive for single diners. Multifamily communities are offering shared spaces such as home theaters, outdoor spaces, and work areas so that singles can socially … [Read more...]
Archives for 2014
Why Prospects of Condo Comeback Are High
October 13, 2014 by Leave a Comment
Condo sales have been on a roller coaster ride in recent years, as the recession hit the sector hard. But is the country ready for a condo revival? In 2005, condo sales surged to 12.7 percent of all home sales. But the financial crisis caused the condo market to recede — even more so than the single-family market — with sales falling to 10.7 percent of all home purchases in 2009. "Condo sales moved sideways several years after the recession before picking up steam again in 2013," CoreLogic Deputy Chief … [Read more...]
There is a Light at the End of the Phoenix Recovery Tunnel
October 13, 2014 by Leave a Comment
Phoenix may have to wait another two years to make it out of the prolonged recovery following the worst economic calamity in four generations. The word from speakers at the SRP Economic Forecast 2015 presented by thePhoenix Business Journal is that 2016 is year of full recovery. A group of more than 700 business professionals gathered at the J.W. Marriott Phoenix Desert Ridge Resort & Spa to hear the advice. It’s been a long, slow climb, and the light at the end of the tunnel has been seen for over a … [Read more...]
6 Design Trends You’ll See More Of
October 13, 2014 by Leave a Comment
What home-design trends will likely catch on in new construction? Builder Online recently spoke to Mollie Carmichael, principal at John Burns Real Estate Consulting, and Nick Lehnert, executive director at architecture firm KTGY, about the design trends that are gaining popularity in the new-home market this year: Private space Baby boomers, empty nesters, and Gen Yers are showing a preference for homes that have more private outdoor spaces, straying from the traditional "public" backyard, according to … [Read more...]
Deco looks to develop $31M condo project in Old Town Scottsdale
August 7, 2014 by Leave a Comment
Deco Communities is developing a $31 million, 100-unit condominium complex in Old Town Scottsdale. The Scottsdale-based apartment and condo developer acquired three vacant land parcels near Earll Road and Drinkwater Boulevard, just south of Scottsdale Stadium. Deco is looking to start construction next year on condos that will have starting prices at $299,000. “Downtown Scottsdale is experiencing strong demand for new condominiums,” said Deco partner Rob Lyles. “Our latest project will bring 100 brand-new … [Read more...]
Real Estate’s Epic Rebound Starts to Cool
August 7, 2014 by Leave a Comment
The U.S. real-estate market has stormed back over the past five years after enduring its most brutal period since the Great Depression. The rebound has rewarded investors and boosted the overall economy. The Dow Jones U.S. Real Estate Index, whose components include real-estate investment trusts as well as mortgage, realty and forestry companies, has climbed 92% since early 2009. That gain, amid a rise of about 20% in the median price of new and existing homes over the past two years, is a bit less than the 114% … [Read more...]
Why you get offered the worst mortgage rates
August 7, 2014 by Leave a Comment
When the time comes to buy a home, you should hope for a buyer's market, ample assets in the bank for a down payment, a great home to buy, and an environment of low mortgage interest rates. Low prevailing rates don't necessarily mean that you'll get offered low ones, though. Here are some reasons why you might get offered disappointing mortgage interest rates. The lender Shop around, and you'll find yourself offered a variety of mortgage interest rates, as different lenders use different (or differently … [Read more...]
Design Workshop: The Case for Big Overhead Doors
August 7, 2014 by Leave a Comment
Garage-style doors are cost-effective solutions for opening rooms to dream views and fresh air — and they’re more stylish than ever I absolutely love the look and feel of colossal doors, the way they lift and slide out of the way with the slightest effort. But their cost can make them impractical for some projects. In situations where large openings and strong outdoor connections are essential, a garage or overhead door can be a more cost-effective solution worth considering. While originally intended … [Read more...]
U.S. Mortgage Rates Rise for a Second Week
June 12, 2014 by Leave a Comment
Mortgage rates in the U.S. rose for a second week, extending an increase in borrowing costs from an eight-month low. The average rate for a 30-year fixed mortgage was 4.2 percent this week, up from 4.14 percent,Freddie Mac said in a statement today. The average 15-year rate climbed to 3.31 percent from 3.23 percent, according to the the McLean, Virginia-based mortgage-finance company. Homebuyers got a temporary reprieve when rates unexpectedly dropped for five straight weeks beginning in early May. Economists … [Read more...]
