source: greenbusinesswatch.org
Archives for 2013
3 Financial Reasons to Buy a Home NOW! (Part I)
March 25, 2013 By 1 Comment
This week, we are going to look at the three financial reasons to buy a home now instead of waiting: prices are rising at an accelerated rate, interest rates are increasing and rents are skyrocketing. – The KCM Crew
Part I – Prices Are Rising at an Accelerated Rate
The price of a home is the major consideration when deciding whether or not it makes financial sense to purchase a house. Experts are not only projecting that house values will increase in 2013. They are also more optomistic in the level of appreciation they are projecting as the market begins to heat up. Here are some examples:
The Home Price Expectation Survey
The latest survey of a nationwide panel of 118 economists, real estate experts and investment and market strategists reveals they project home values to end 2013 up an average of 4.6% according to the first quarter. This is after they had projected a 3.1% increase just three months ago.
Bank of America
In a report titled, Someone Say House Party?, Bank of America analysts revised their projections upward:
“Home prices continue to show momentum amid shrinking inventory and record high affordability, prompting us to revise up our original forecast of 4.7% for home prices this year. We now expect national home prices, as defined by the S&P Case Shiller home price index, to increase 8% this year.”
Capital Economics
According to a report in DSNews, Capital Economics also upgraded their prediction:
“Strong demand and tight inventory have brought existing home sales back to ‘normal’ levels, and further gains are possible, according to the latest market report from Capital Economics. Additionally, market conditions may prompt lenders to “loosen the purse strings slightly” and lend a little more freely.
These conditions, combined with broader economic indicators, lead Capital Economics to revise its previous forecast of a 5% price gain this year up to 8%.”
Morgan Stanley
In an article from HousingWire, Morgan Stanley joined the party:
“Strong momentum in home prices as well as housing activity gave Morgan Stanley analysts enough confidence to upgrade their home price appreciation projections to roughly 7% (from 5%) for 2013, according to its latest global securitized credit report…
“The momentum in most metrics of housing activity is running well ahead of the pace we had expected,” said James Egan, Jose Cambronero and Vishwanath Tirupattur, analysts for Morgan Stanley.”
Not only are prices projected to appreciate. Experts are actually revising their projections upward as demand maintains its momentum.
Tomorrow, we will look at increasing interest rates.
by THE KCM CREW
Sleek Self-Contained Kitchen Design Disguises Clutter
March 25, 2013 By Leave a Comment
Everything you need in a kitchen, from appliances to cooking implements, is at your fingertips – yet quickly out of sight – in this smart all-in-one kitchen design. The Logica Kitchen System by Italian kitchen company Valcucine offers a place for absolutely everything you can think of, as well as sliding electrical cord systems for small appliances like toasters and mixers.
Valcucine painstakingly researched the ways in which we interact with our kitchens, determining the best possible layout for optimal convenience and organization. The system consists of a work surface with sinks and burners and an ‘equipped back section’ that can be placed against the wall or used in an island in the middle of the room.
This back section is fitted with plate, knife and bottle racks, hooks for utensils, and storage space for virtually every kitchen implement you can think of as well as a cooker hood, monitor and adjustable sockets. Small storage compartments hold items like spices.
The best part is, when you’re not using the kitchen, you can simply pull down the sliding cabinet doors for a clean look that’s entirely clutter-free.
Rent or Buy: How they stack up
March 23, 2013 By Leave a Comment
According to Trulia’s 2013 Rent vs. Buy Report, buying is cheaper than renting in the top 100 metro areas across the nation says Forbes. While asking home prices climbed 7.0 percent last year, rent went up by 3.2 percent. Currently, it is 44 percent cheaper to buy versus rent, compared to 46 percent one year ago. Low mortgage rates have contributed to housing affordability. Households can save more dollars buying over renting in the Midwest than in San Francisco, Honolulu, San Jose, and New York, where the savings gap is narrower.
Buying is a great option when these key factors apply:
- Low-interest mortgage rates are available;
- Households itemize deductions on tax returns, including the mortgage interest and property tax payments for first and second homes;
- Households stay in the home three years or longer, because buying and selling a home incurs settlement or closing costs that may be recouped after that period.
Buying is 44 percent lower than renting for families that stay for 7 years, 35 percent for those staying 5 years, and 20 percent for 3-year inhabitants.
The Bipartisan Policy Center forecasts that five to six million new renter households will emerge over the next decade due in part to the low inventory of homes, according to HousingWire. Barry Zigas, Director of Housing Policy for Consumer Federation of America, said that even though young households want to purchase, the current housing supply can’t support that demand. Tighter credit, more substantial down payments, and decreased wealth among new households also contribute to the rise in rentership.
A research study from Florida International University concludes that the U.S. is trending toward becoming a renter nation even though the financial and non-financial benefits of homeownership are still tangible for many households. While buying is a good option for most, it is particularly positive for those who plan on staying in a home for more than three years or who are looking for rental properties to grow their wealth over time.
Greater Seattle: Where You’ll Want to Be In 2016
March 23, 2013 By Leave a Comment
The Seattle metro area continues to attract migrants from other states, boosting residential and commercial development. Real estate experts offer their top picks on the next hot spots for sub(urban) growth in 2016, reports Seattle Met.
Sammamish, a suburban city located on the East side, could boast a European-inspired centralized plaza complete with a town hall, retail, and small-unit homes by 2016. Sammamish has easy access to 520 and I-90, making it an attractive location for young families who want solid schools, a relatively shorter commute, and proximity to both Bellevue and Seattle. CNN Money Magazine named Sammamish one of the best places to live in 2011.
The Central District, located on the southern edge of Capitol Hill, appeals to young families who want a house and proximity to Seattle and Bellevue. A mostly residential area, the Central District is located east of Cherry Hill, west of Madrona and Leschi, south of Capitol Hill, and north of Rainier Valley. Historically, the Central District has been one of Seattle’s most racially and ethnically diverse neighborhoods.
South Lake Union is the headquarters of Amazon and home to Denny Park, Seattle’s oldest public park. This urban and walkable community touts the beautiful Lake Union, new and emerging condominium units, and amenities. For professionals who work in the SLU region, the options to live there are becoming increasingly abundant.
Columbia City is a newly revitalized part of the Rainer Valley, a mulitcultural community located southeast of downtown Seattle. Expansion of mass transit makes the Rainer Valley area communities attractive to those who want to stay close to downtown. The Valley includes the historic district of Columbia City and immediate neighbors, Genesee, Lakewood, Seward Park, Beacon Hill, Mt. Baker, and Hilman City, which rounds out Seattle Met’s top 5 best places to live in 2016.
What’s Your Architectural Personality?
March 22, 2013 By Leave a Comment
Architectural styles have personality all their own. Greek revival is stately and refined; ranch houses are rustic and welcoming and Spanish revival is eclectic and earthy. The house style you like can be a blueprint for your personality. Find out your architectural type by taking this quiz.
The Coolest Way to Repair Carpet Furniture Dents
March 22, 2013 By Leave a Comment
When furniture has been in the same spot for 10+ years dents are deep and despite rubbing and vacuuming the spot over and over it seemed nearly impossible to fix. Does this sound familiar to you?
Does the thought of ugly dents in your carpet from furniture that hasn’t been moved in years deter you from rearranging your furniture? Believe it or not there is a super simple way to fix areas of crushed carpet and the solution can be found right in your freezer!
The answer my friends…is ICE! Yes, to treat and repair crushed carpet fibers all you need are a few frozen cubes of water.
The size of the dent will determine how many cubes you need. Place cubes right on top of the divot about 2 inches apart. Let the carpet soak up the melted water. Once the carpet completely dries you can vacuum the area. If there are still pieces of carpet that have not popped back up you can use your fingers or a table fork to gently fluff those pieces.
This trick is great for home sellers who are looking to rearrange furniture to stage their home or anyone looking to change the look of their room.
Before you go out and try this cool solution please be aware there is a caveat. When trying this you need to be EXTRA careful if there are wooden floors under the carpet. About.com suggests the following tips:
- ALWAYS test this method first with one ice cube in an inconspicuous spot. Lift carpet corner to see that the water hasn’t damaged the under flooring.
- Be CAREFUL if you have wood floors underneath! Test first to make sure moisture does not damage the wood!
- DO NOT use this method on hand dyed rugs, antique carpets, delicate or valuable rugs, or on fibers not compatible with water cleaning.
And there you have it. Goodbye ugly furniture divots!
