Market News

Price Forecasting the Winner of Super Bowl LII

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The NFL’s Divisional Round kicks off this weekend, featuring a bevy of talented teams, including regular heavyweights, the New England Patriots and the Pittsburgh Steelers, as well as some newcomers (Jacksonville Jaguars and Tennessee Titans).

While TV analysts and armchair quarterbacks dissect the rosters of each team to figure out who will be the winner of Super Bowl LII, here’s a fun look at picking this year’s champion based on NAR Research’s third quarter price data in the metro area of each team’s city:

Teams/Third Quarter Median Single-family Home Price
Atlanta Falcons – $204,300 (6.7 percent)
Jacksonville Jaguars – $232,000 (5.9 percent)
Minnesota Vikings (Minneapolis) – $257,800 (7.3 percent)
New England Patriots (Boston) – $464,100 (6.6 percent)
New Orleans Saints – $204,300 (6.8 percent)
Philadelphia Eagles – $238,900 (1.7 percent)
Pittsburgh Steelers – $170,000 (6.3 percent)*
Tennessee Titans (Nashville) – $234,300 (1.9 percent)

* Price data for the Pittsburgh metro area comes from the realtor.com®

Picking the winner
Highest median home price: New England Patriots
Lowest median home price: Pittsburgh Steelers
Fastest price appreciation: Minnesota Vikings
Slowest price appreciation: Philadelphia Eagles

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Escape to the Mountains: A Few Tips for Buying Your First Cabin

By Kara Masterson If the mountains are one of your favorite places to visit on vacation, you may consider purchasing a cabin there for yourself. Whether you use it as a second home for vacations only, a rental property that you will also use occasionally, or your new home outside the city, you must think carefully […]

The post Escape to the Mountains: A Few Tips for Buying Your First Cabin appeared first on RISMedia’s Housecall.

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#CES2018: Tech Up Your Style

By Melissa Dittmann Tracey, REALTOR® Magazine

ces-logoThe mega consumer electronic showcase, CES, lands in Las Vegas this week. It may not be the place you typically go to for décor trends, but technology is having an undeniable influence in home design, like see-through refrigerators and smart lighting.

Consumers look to you for expertise too. Forty-two percent of Americans say they would look to their sales agent to provide suggestions about how staging their home with smart home products could impact the sale of their home, according to a newly released Coldwell Banker Real Estate survey of more than 3,000 Americans.

So what do we see that has potential this year to spice up some designs? Here are a few picks from CES 2018.

Accent Wall Light Show

 

Photo credit: Nanoleaf

Photo credit: Nanoleaf

Nanoleaf’s color-changing Aurora light panels would make for an attention-getting accent wall in small or big doses. Connect them in any configuration you like. They just stick to the walls. The panels change colors, and you can sync the lights to music and also with one of your AI’s, Alexa, Siri, or Google Assistant. The panels are touch-sensitive so with a tap you can turn them on and off, dim them, or change the color.

Statement Refrigerators

Refrigerators just keep getting smarter. LG’s new InstaView ThinQ smart refrigerator features a 29-inch touchscreen that becomes transparent if you knock on it twice. You can also use the touchscreen to manage your food and get automatic reminders when items are running low.

Photo credit: LG

Photo credit: LG

Samsung has a similar model in appearance with its 2018 version of its Family Hub smart refrigerator. This year’s model offers support for Samsung’s Bixby voice assistant to handle voice commands. It can connect to other third-party devices for the smart home too. So you can actually view what’s happening outside your front door from your refrigerator door.

Photo credit: Samsung

Photo credit: Samsung

Notice both the Samsung and LG models are both featured in black stainless, which we still believe will be a growing competitor to traditional stainless steel.

Mirror, Mirror on the Wall … 

Photo credit: Kohler

Photo credit: Kohler

Check out this smart mirror. Kohler is introducing a new Verdera Voice Lighted Mirror, which is a bathroom mirror that has Amazon’s Alexa built-in. It features a dual-microphone solution for accuracy in voice-control and speakers are housed in the casings. There is also a motion-activated wayfinding nightlight for safety, and LED lights for makeup application or other grooming needs. It can also communicate with other connected products in your Wi-Fi network.

Is that an AI in your ceiling? 

Photo credit: GE

Photo credit: GE

Talk with your ceiling lights. You’ll be able to with GE’s Smart Ceiling Fixture. It is a large disk that boasts a speaker in the middle. You can give it voice-driven tasks on anything, like adding an item to your grocery list or telling it to play music. You can also tell it to adjust the warmness or coolness of the lights. It responds to your commands. Flush mount or recessed can lighting options will be available.

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White Kitchen Fatigue?

By Melissa Dittmann Tracey, REALTOR® Magazine

Are homeowners growing tired of the all-white kitchen? Some design experts believe so. White kitchens have been popular over the past few years, but Houzz editor and writer Mitchell Parker predicts that the number of homeowners who will get “white-kitchen fatigue” will grow in the new year.

Some homeowners may experiment with adding more colors back in to the kitchen.

“While white kitchens aren’t going anywhere, expect to see a rise in color, especially other neutrals like gray and blue,” Parker notes in reporting on 2018 home trends. “Plus, warm wood tones are becoming a popular replacement for painted cabinets, leading to sophisticated, rich palettes.”

The two-tone look started catching on in 2017, in which cabinet colors were mixed and matched in the kitchen. For example, the bottom cabinets might be a darker color, such as gray, and the upper cabinets then all in white. Or, homeowners were making a bigger statement with their kitchen islands by painting it a bolder color that contrasted with the rest of its kitchen cabinets.

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Instant Reaction: December Jobs Report

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics report on December employment conditions:

“The job market continues to improve, but at a decelerating pace. The year 2017 ended with 2.1 million net new job additions, a very solid rate. However, the gains had been 2.6 million, 2.9 million, and 2.5 million in the three preceding years. More jobs and more income for households definitely attest to the rising housing demand.

As to the supply of homes, construction workers are needed. In 2017, a net 190,000 new workers were employed in the construction industry, and that also marks a decelerating trend, as the prior three years averaged 284,000 annual additions. With the unemployment rate in the construction industry having fallen from over 20% in 2010 to 5.9% at the year-end of 2017, there could be a little growth to home construction despite the on-going housing shortage. There needs to be serious consideration in allowing temporary work visas until American trade schools can adequately crank out much needed, domestic skilled construction workers.”  

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2017 in Review: Housing Market Superlatives

The calendar may have turned to 2018 yesterday, but with one month of 2017 data remaining, here’s a look at some of the top housing highlights from last year:

Strongest existing-home sales pace
November: 5.81 million

Slowest existing-home sales pace 
August: 5:35 million

Most likely to be happy
Home sellers: sales prices consistently rose around 5 percent (YoY) each month

Most likely to be frustrated 
Prospective first-time buyers: 32% sales share (unchanged from 2016 and down from historical average of around 40%)

Fastest month to sell a home 
May: 27 days

Most expensive housing market *
San Jose-Sunnyvale-Santa Clara, California: $1,165,000

Least expensive housing market * 
Decatur, Illinois, $86,300

Quickest home-price appreciation *
San Jose-Sunnyvale-Santa Clara, California: 16.5%

Slowest home-price appreciation * 
Fon du Lac, Wisconsin: 0.3%

* by metro area, as of Q3

 

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2018 Outdoor Living Trends: Jaw-Dropping Transformations

By Audra Slinkey, Home Staging Resource

Outdoor patio spaces have sure changed in the last few years with the onset of new outdoor materials, furnishings, fixtures, Cantina doors, and the home owner’s desire for more outdoor living and entertaining space.  In fact, according to the 2017 National Association of REALTORS’ Profile of Home Staging report, the desire to see outdoor spaces staged when selling a home was at 63 percent.  It was not even mentioned in the previous survey.

This outdoor space total transformation is a great example of the kinds of living trends you can expect to see for 2018 and beyond.

Trend #1 – Capitalizing on Available and Unusable Yard Space by Creating Multi-Functional Entertaining Areas

This side yard off the kitchen and dining area was an unusable space used only for barbecuing and the occasional outdoor eating. The patio was too small.  Today’s yards are multi-functional and serve to entertain, lounge, and maximize lot square footage.

Slinkey_1

BEFORE / Photo credit: www.homestagingresource.com

 

Slinkey_2

AFTER / www.homestagingresource.com

 

The side yard appears to be much bigger than before and now serves as an extension of the kitchen and living room area.  The wasted and unused yard is now a highlight of the home adding nearly 1,000 square feet of living space.

Trend #2 – Bring the Outside In with La Cantina/Folding Doors

BEFORE / www.homestagingresource.com

BEFORE / www.homestagingresource.com

 

AFTER / www.homestagingresource.com

AFTER / www.homestagingresource.com

 

 

Removing the kitchen wall and adding La Cantina folding doors allows for seamless movement between the inside and out.  Almost every new home being built in San Diego County has one of these doors inside, so expect to see a lot more of these in the coming years.

Trend #3– Home Bars and Wine Rooms for Entertaining

The casual setting of a home bar is on the rise with a large selection of finishing materials and resources available online to home owners.  More people are entertaining larger crowds in a “help yourself” type of atmosphere.  The Houzz category of “Home Bar” is one of the fastest growing and searched type of photos. So it’s no wonder people are adding them to their outdoor space.

BEFORE / www.homestagingresource.com

BEFORE / www.homestagingresource.com

 

AFTER / www.homestagingresource.com

AFTER / www.homestagingresource.com 

Trend #4 – Textured Walls/Tongue and Groove Siding

Part of making an outside addition appear to be seamless to the inside is to not have the walls look like the outside of a house.  An easy way to create the “indoor look” is to banish stucco entirely and use tongue and groove, as well as wood cabinets (treated and painted) to add character.

Photo credit: www.homestagingresource.com

Photo credit: www.homestagingresource.com

 

Trend #5 – Seamless Outdoor Heating that Works and is Energy Efficient

It wasn’t that long ago home owners were relegated to the indoors for most of the year due to cold and hot weather issues.  Sophisticated and low energy heating units embedded into the ceiling make this a year round space for watching TV and entertaining!

 

Photo credit: www.homestagingresource.com

Photo credit: www.homestagingresource.com

 

Trend #6 – Matching Flooring as an “Extension” of the Indoor Space

Keeping in line with the home owner’s desire for a seamless movement between inside and outside, flooring options have widened allowing owner’s to use tile that looks like wood but is hardy and easy to wash in their outside space.

BEFORE / www.homestagingresource.com

BEFORE / www.homestagingresource.com

 

AFTER / www.homestagingresource.com

AFTER / www.homestagingresource.com

 

From a resale standpoint, these outdoor spaces cost much less than additions and add buyer lifestyle value.  Light fixtures, finishes, and furnishings that can withstand the outdoor elements are easier to source than ever before, so it can be fun for the designer/stager to get creative with their clients.

Slinkey ABOUT THE AUTHOR: Audra Slinkey is president of the Home Staging Resource, a RESA Accredited home staging training and certification company. Slinkey has personally trained over 3,000 stagers worldwide and is a bestselling author and international speaker. She also serves as president of the American Society of Home Stagers and RedesignersConnect with her on Facebook!

 

 

 

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WATCH: Realtors® December Housing Minute: A 50-Second Video of Market Activity

Fueled by strong job growth and the strengthening economy, existing-home sales and contract signings both increased in November.

Visit (or watch below) https://www.nar.realtor/videos/housing-minute to watch a 50-second, animated video from the National Association of Realtors® summarizing how the housing market performed in November, as well as a look at current consumer sentiment and NAR’s 2018 housing forecast.

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November Sales Surprise to a Near 11-Year High; Contract Signings Also Rise

In what reflects the significant amount of pent-up demand in today’s housing market, existing-home sales surged in November to their strongest pace since December 2006. Good news was also found in November’s pending sales data. 

Whether it’s been weakening affordability, low supply or hurricanes, sales have been somewhat sluggish since the summer. That changed last month.

Looking at the data from the Realtors Confidence Index, it’s clear most of the jump in closings came from trade-up buyers with large down payments and those with cash on hand. All-cash and investor sales were both up, while first-time buyers made up only 29 percent of the market (32 percent in November 2016).

While November’s sales jump is great news heading into 2018, NAR Chief Economist Lawrence Yun reiterated during this morning’s press conference that supply is still way too low. Sales to first-time buyers will not improve meaningfully unless there’s a significant boost in new and existing listings next year.

We’ll find out soon…

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