Rates Hit 1-Month Highs; New Loan Limits Already at Risk; Production Expenses Hurt Lender Profits

There are several news stories out today that reference LOWER rates this week. These all rely on stale survey data that failed to account for changes over the past 2 days. Mortgage rates actually continued higher today at the same quicker pace seen yesterday. Due to the relatively narrow range during November, rates are now in line with their highest levels in more than a month whereas they were at 2-week lows just 2 days ago. The average lender is now quoting conventional 30yr fixed rates of 4.0% on top tier scenarios, with a few outliers at 3.875% and 4.125%. A few days ago, 3.875% was nearly as prevalent. As we discussed yesterday, the potential tax bill has had a pretty consistent relationship with rates. To whatever extent it looks passable, rates have generally moved higher. Today was

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/30/3111

Developer of $30M downtown hotel project updates design, reveals brands

The local hotelier is tweaking the design of the project, which will feature two major lodging brands and incorporate a historic African-American church.

from
https://www.ibj.com/blogs/3-property-lines/post/66475-developer-of-30m-downtown-hotel-project-updates-design-reveals-brands

Worsening Affordability Costs Renters $2,000 per Year

Income growth stagnated as rents continued to climb, forcing renters to pay an increasing share of their income on rent

from
http://zillow.mediaroom.com/2017-11-29-Worsening-Affordability-Costs-Renters-2-000-per-Year

Santa's Home Value Up 6.5 Percent Since Last Winter

New photos on Zillow of the Elf Village reveal the magic and style of the helpers' tiny quarters

from
http://zillow.mediaroom.com/2017-11-28-Santas-Home-Value-Up-6-5-Percent-Since-Last-Winter

Smarten Up Your Showings With Smart Home Technology

By Christy Matte, guest contributor

Smart homes with security and automation features are becoming a hot trend, and they can be an exciting way to dazzle prospective home buyers (and up your staging efforts to a high-tech level at the same time). But if buyers have never experienced an automated home environment, rattling off a list of features could be meaningless at best, and confusing at worst. Here are some fun ways to show a home with smart features, so the buyers will be wowed and you can clinch the sale.

Know What It Is and How It Works

It should go without saying, but make sure you can control the features like a security system, smart locks, or smart lighting, before trying to introduce them to buyers. Ask the homeowner for tips, test them out, and be ready for the big show.

Get the Apps

Ask the seller for access to the associated apps for the various systems. Even better, convince the sellers to tie all smart home technology into one convenient smart hub. It’s an easy task with the help of their Internet service provider. Install one app on one device so prospective buyers can try them out.

Educate Buyers on the Benefits

Make a one-page list of the features, specifically showing how they can save time and money, while also providing increased security.

Go Beyond the Basics

Most people have a basic understanding of a traditional home security system. Show them how this particular system can go even further. Can it send them a text message for smoke detection or a water leak? Can you open the smart lock with your own designated code? Show buyers how much flexibility is available. Security systems aren’t just for protecting against theft anymore.

Have Fun!

Use motion detectors to trigger mood lighting and automated music as buyers move through the home. Let them set off the sprinkler system (after touring the yard, of course) with a swipe of the app. Teach them voice commands to trigger the home’s other functions.

With the right planning, you can turn your everyday showing into something truly special and extremely smart.

ABOUT THE AUTHOR: Christy Matte is a Boston-based writer who covers home security for XFINITY Home. She is also a die-hard techie who blogs at QuirkyFusion.com. 

 

 

from
http://feedproxy.google.com/~r/StyledStagedSold/~3/4E_DUKSvJR0/

Pending Home Sales Rebound, Beating Expectations; Rates Bounce to 2-Week Highs

Pending home sales posted their first strong showing in three months in October, beating even the most optimistic of predictions. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI) jumped by 3.5 percent compared to September, to a reading of 109.3. The September index, originally reported at 106.0, unchanged from August, was revised down to 105.6. The PHSI, a forward-looking indicator of existing home sales, is at its highest reading since June, but continues to run behind year-ago levels. The October index was 0.6 percent below the same month in 2016. Analysts polled by Econoday had expected the index to rise, but only by 0.6 to 2.5 percent. The consensus estimate was 1.0 percent. Lawrence Yun, NAR chief economist, says pending home sales in the South

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/29/3109

Worsening Affordability Costs Renters $2,000 per Year

Income growth stagnated as rents continued to climb, forcing renters to pay an increasing share of their income on rent

from
http://zillow.mediaroom.com/2017-11-29-Worsening-Affordability-Costs-Renters-2-000-per-Year

FHFA Raises Conforming Loan Limit; Home Price Gains "Appear Unstoppable"

Loan limits were frozen in place at $417,000 for 10 long years after the housing bust, but were finally raised on January 1 of this year. Rapidly increasing home prices have now allowed the Federal Housing Finance Agency (FHFA) to increase them again for 2018. The maximum conforming loan limits for mortgages eligible to be acquired by Fannie Mae and Freddie Mac (the GSEs) in most of the U.S. starting on January 1 will be $453,100, an increase from $424,100 in 2017. The Veterans Administration and FHA are expected to follow suit, raising limits for their own loans. The Housing and Economic Recovery Act (HERA) requires that the baseline conforming loan limit for the GSEs be adjusted each year to reflect the change in the average U.S. home price. FHFA published its third quarter House Price Index

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/28/3107

Price Gains Cooling Off; Home Sales Steamroll Expectations; CFPB Director Debacle

Black Knight Financial Services reported on Monday that home prices as measured by its national Home Price Index (HPI) continued to slow on a monthly basis, although the year-over-year rate continues to accelerate. The company said the HPI rose 0.16 percent from August to September, only two-thirds of its increase (0.24 percent) from July to August. It was the sixth consecutive month the index's growth had slowed. The HPI, which finished the month at $282,000, posted a 6.36 annual increase. The 12-month appreciation in August was 6.24 percent. The slowdown in gains was widespread . Half of the 20 largest states and 17 of its largest metros saw prices fall compared to the previous month. Michigan had the largest decline at 0.61 percent and Detroit led the large metro areas with a decline of

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/27/3105

Rates Modestly Lower; Delinquencies Soar in Storm-Impacted Areas; Purchase Share Ticks Up

Mortgage rates fell modestly today, with bond market strength both before and after the release of the Fed Minutes (a more detailed account of the Fed meeting that took place 3 weeks ago). Stronger bond markets correlate with lower rates. Bonds tend to benefit from weak economic data, low inflation expectations, and an accommodative monetary policy stance from the Fed. Today's economic data was generally weaker, but of particular importance at the moment were the inflation expectations in the consumer sentiment data, which came in near the lowest levels since the financial crisis. The Fed Minutes also mentioned some concern over intractably low inflation, though they continue to expect a rebound based on a strong labor market. Bond markets are already well aware the Fed is planning on hiking

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/22/3103

FHFA Raises Conforming Loan Limit; Home Price Gains "Appear Unstoppable"

Loan limits were frozen in place at $417,000 for 10 long years after the housing bust, but were finally raised on January 1 of this year. Rapidly increasing home prices have now allowed the Federal Housing Finance Agency (FHFA) to increase them again for 2018. The maximum conforming loan limits for mortgages eligible to be acquired by Fannie Mae and Freddie Mac (the GSEs) in most of the U.S. starting on January 1 will be $453,100, an increase from $424,100 in 2017. The Veterans Administration and FHA are expected to follow suit, raising limits for their own loans. The Housing and Economic Recovery Act (HERA) requires that the baseline conforming loan limit for the GSEs be adjusted each year to reflect the change in the average U.S. home price. FHFA published its third quarter House Price Index

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/28/3107

Santa's Home Value Up 6.5 Percent Since Last Winter

New photos on Zillow of the Elf Village reveal the magic and style of the helpers' tiny quarters

from
http://zillow.mediaroom.com/2017-11-28-Santas-Home-Value-Up-6-5-Percent-Since-Last-Winter

Keystone closes on downtown AT&T tower, plans to add parking garage

The local developer has a solution to a problem that vexed the building's previous owner. It includes converting four floors to an unusual use.

from
https://www.ibj.com/blogs/3-property-lines/post/66363-att-closes-on-purchase-of-downtown-att-tower

Price Gains Cooling Off; Home Sales Steamroll Expectations; CFPB Director Debacle

Black Knight Financial Services reported on Monday that home prices as measured by its national Home Price Index (HPI) continued to slow on a monthly basis, although the year-over-year rate continues to accelerate. The company said the HPI rose 0.16 percent from August to September, only two-thirds of its increase (0.24 percent) from July to August. It was the sixth consecutive month the index's growth had slowed. The HPI, which finished the month at $282,000, posted a 6.36 annual increase. The 12-month appreciation in August was 6.24 percent. The slowdown in gains was widespread . Half of the 20 largest states and 17 of its largest metros saw prices fall compared to the previous month. Michigan had the largest decline at 0.61 percent and Detroit led the large metro areas with a decline of

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/27/3105

Smarten Up Your Showings With Smart Home Technology

By Christy Matte, guest contributor

Smart homes with security and automation features are becoming a hot trend, and they can be an exciting way to dazzle prospective home buyers (and up your staging efforts to a high-tech level at the same time). But if buyers have never experienced an automated home environment, rattling off a list of features could be meaningless at best, and confusing at worst. Here are some fun ways to show a home with smart features, so the buyers will be wowed and you can clinch the sale.

Know What It Is and How It Works

It should go without saying, but make sure you can control the features like a security system, smart locks, or smart lighting, before trying to introduce them to buyers. Ask the homeowner for tips, test them out, and be ready for the big show.

Get the Apps

Ask the seller for access to the associated apps for the various systems. Even better, convince the sellers to tie all smart home technology into one convenient smart hub. It’s an easy task with the help of their Internet service provider. Install one app on one device so prospective buyers can try them out.

Educate Buyers on the Benefits

Make a one-page list of the features, specifically showing how they can save time and money, while also providing increased security.

Go Beyond the Basics

Most people have a basic understanding of a traditional home security system. Show them how this particular system can go even further. Can it send them a text message for smoke detection or a water leak? Can you open the smart lock with your own designated code? Show buyers how much flexibility is available. Security systems aren’t just for protecting against theft anymore.

Have Fun!

Use motion detectors to trigger mood lighting and automated music as buyers move through the home. Let them set off the sprinkler system (after touring the yard, of course) with a swipe of the app. Teach them voice commands to trigger the home’s other functions.

With the right planning, you can turn your everyday showing into something truly special and extremely smart.

ABOUT THE AUTHOR: Christy Matte is a Boston-based writer who covers home security for XFINITY Home. She is also a die-hard techie who blogs at QuirkyFusion.com. 

 

 

from
http://styledstagedsold.blogs.realtor.org/2017/11/27/smarten-up-your-showings-with-smart-home-technology/

Recap of 2017: The Best Year in a Decade

Macroeconomic conditions remained favorable for housing and mortgage markets in 2017. Despite challenges, the housing markets remain on track for... More

from
http://www.freddiemac.com/research/outlook/20171120_recap_2017.html?attr=rssCB

Recap of 2017: The Best Year in a Decade

Macroeconomic conditions remained favorable for housing and mortgage markets in 2017. Despite challenges, the housing markets remain on track for... More

from
http://www.freddiemac.com/research/outlook/20171120_recap_2017.html?attr=rssCB

Median U.S. Home is $12,500 More Valuable Today than a Year Ago

Homes in more than half of the nation's largest metros gained more than $10,000 in value in the last year, according to Zillow's Housing Market Reports

from
http://zillow.mediaroom.com/2017-11-22-Median-U-S-Home-is-12-500-More-Valuable-Today-than-a-Year-Ago

Keystone closes on downtown AT&T tower, plans to add parking garage

The local developer has a solution to a problem that vexed the building's previous owner. It includes converting four floors to an unusual use.

from
https://www.ibj.com/blogs/3-property-lines/post/66363-att-closes-on-purchase-of-downtown-att-tower

Snowbirds - Show 459

Real Estate Today Radio - SHOW 459

On this week's Real Estate Today, it's our special show "Snowbirds."

This Week's Show Includes:
- Top News Of The Week
- Vacant vs Income
- Where to Go?
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

from
http://retradio.com

Median U.S. Home is $12,500 More Valuable Today than a Year Ago

Homes in more than half of the nation's largest metros gained more than $10,000 in value in the last year, according to Zillow's Housing Market Reports

from
http://zillow.mediaroom.com/2017-11-22-Median-U-S-Home-is-12-500-More-Valuable-Today-than-a-Year-Ago

Keystone closes on downtown AT&T tower, plans to add parking garage

The local developer has a solution to a problem that vexed the building's previous owner. It includes converting four floors to an unusual use.

from
https://www.ibj.com/blogs/3-property-lines/post/66363-att-closes-on-purchase-of-downtown-att-tower

Hot Home Trend: The Statement Shower

By Melissa Dittmann Tracey, REALTOR® Magazine

The shower in the master bathroom is getting a lot more attention. In fact, it’s one of the main splurges among renovating homeowners, according to the 2017 U.S. Houzz Bathroom Trends Study. These “statement showers,” as Houzz dubs them in its report, include high-tech features, like rainfall showerheads, dual showers, curbless showers, and body sprays.

Photo by Alex Maguire Photography – Browse bathroom photos

 

Upgrading the master shower was the most popular renovation project, according to the survey of more than 1,200 U.S. homeowners who were in the midst or just completed a bathroom reno project. For more than half of renovators, their main aim was to increase their shower’s size. Also, survey respondents showed a rise in demand for high-tech features, such as mood lighting or digital controls, in master bathrooms.

Over a quarter of homeowners – 27 percent – have opted to remove the bathtub in their master bathroom renovations, according to the survey. The removal of the bathtub has allowed more room for a larger shower.

“This year’s Bathroom Trends Study sheds light on two key trends in master bathrooms, showers as a focal point and the growing role of high-tech features in bathroom products,” says Nino Sitchinava, principal economist at Houzz. “Additionally, it is clear that today’s master bathroom renovations are marked by timeless and durable elements, from natural stone finishes to curbless shower entries, a benefit of having older generations in the driver’s seat. Still, the early wave of millennial homeowners reveals their preferences for homes of the future, from larger master bathrooms to clean lines and white and gray color pallets.”

The Houzz study found that the national average for a major remodel of a large master bathroom (considered over 100 square feet) is $21,000.

from
http://feedproxy.google.com/~r/StyledStagedSold/~3/utdu7ruV6X0/

Snowbirds - Show 459

Real Estate Today Radio - SHOW 459

On this week's Real Estate Today, it's our special show "Snowbirds."

This Week's Show Includes:
- Top News Of The Week
- Vacant vs Income
- Where to Go?
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

from
http://retradio.com

Median U.S. Home is $12,500 More Valuable Today than a Year Ago

Homes in more than half of the nation's largest metros gained more than $10,000 in value in the last year, according to Zillow's Housing Market Reports

from
http://zillow.mediaroom.com/2017-11-22-Median-U-S-Home-is-12-500-More-Valuable-Today-than-a-Year-Ago

Keystone closes on downtown AT&T tower, plans to add parking garage

The local developer has a solution to a problem that vexed the building's previous owner. It includes converting four floors to an unusual use.

from
https://www.ibj.com/blogs/3-property-lines/post/66363-att-closes-on-purchase-of-downtown-att-tower

Here Come the Holidays - Show 458

Real Estate Today Radio - SHOW 458

On this week's Real Estate Today, it's our special show "Here Come the Holidays."

This Week's Show Includes:
- Top News Of The Week
- Giving Thanks - Buyers and Sellers
- Giving Thanks - Homeowners
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

from
http://retradio.com

Roundup: Kroger opens downtown grocery; Broken English debuts

Downtown gets a new grocery and taco restaurant; a seafood restaurant makes a move in Zionsville; Keystone Crossing lands new pizza place; and a midtown diner closes after four months.

from
https://www.ibj.com/blogs/3-property-lines/post/66293-roundup-kroger-opens-downtown-grocery-broken-english-debuts

Rates Modestly Lower; Delinquencies Soar in Storm-Impacted Areas; Purchase Share Ticks Up

Mortgage rates fell modestly today, with bond market strength both before and after the release of the Fed Minutes (a more detailed account of the Fed meeting that took place 3 weeks ago). Stronger bond markets correlate with lower rates. Bonds tend to benefit from weak economic data, low inflation expectations, and an accommodative monetary policy stance from the Fed. Today's economic data was generally weaker, but of particular importance at the moment were the inflation expectations in the consumer sentiment data, which came in near the lowest levels since the financial crisis. The Fed Minutes also mentioned some concern over intractably low inflation, though they continue to expect a rebound based on a strong labor market. Bond markets are already well aware the Fed is planning on hiking

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/22/3103

Recap of 2017: The Best Year in a Decade

Macroeconomic conditions remained favorable for housing and mortgage markets in 2017. Despite challenges, the housing markets remain on track for... More

from
http://www.freddiemac.com/research/outlook/20171120_recap_2017.html?attr=rssCB

Median U.S. Home is $12,500 More Valuable Today than a Year Ago

Homes in more than half of the nation's largest metros gained more than $10,000 in value in the last year, according to Zillow's Housing Market Reports

from
http://zillow.mediaroom.com/2017-11-22-Median-U-S-Home-is-12-500-More-Valuable-Today-than-a-Year-Ago

Existing Home Sales Erase Summertime Losses; Sideways Rates; Housing's Best Year in a Decade?

Existing home sales continued a gradual recovery in October after a summer of sliding sales. For the second straight month the National Association of Realtors® (NAR) is reporting that sales of previously owned homes increased, this time by 2.0 percent. Single-family houses, townhouses, condos, and townhouses sold at a seasonally adjusted annual rate of 5.48 million. The increase brought sales back to their strongest pace since June's rate of 5.51 million, but they are still running behind sales in October 2016 by 0.9 percent. September's sales had been reported as up 0.7 percent from August, to 5.390 million, ending a three-month streak of losses. That gain has now been revised down to 5.37 million. Analysts had been looking for October sales in an annual range of 5.320 to 5.560 million

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/21/3101

Keystone closes on purchase of downtown AT&T tower

The local developer plans to convert four floors into a parking garage to alleviate the lack of on-site spaces, and envisions a mix of residential and retail space.

from
https://www.ibj.com/blogs/3-property-lines/post/66363-att-closes-on-purchase-of-downtown-att-tower

Hot Home Trend: The Statement Shower

By Melissa Dittmann Tracey, REALTOR® Magazine

The shower in the master bathroom is getting a lot more attention. In fact, it’s one of the main splurges among renovating homeowners, according to the 2017 U.S. Houzz Bathroom Trends Study. These “statement showers,” as Houzz dubs them in its report, include high-tech features, like rainfall showerheads, dual showers, curbless showers, and body sprays.

Photo by Alex Maguire Photography – Browse bathroom photos

 

Upgrading the master shower was the most popular renovation project, according to the survey of more than 1,200 U.S. homeowners who were in the midst or just completed a bathroom reno project. For more than half of renovators, their main aim was to increase their shower’s size. Also, survey respondents showed a rise in demand for high-tech features, such as mood lighting or digital controls, in master bathrooms.

Over a quarter of homeowners – 27 percent – have opted to remove the bathtub in their master bathroom renovations, according to the survey. The removal of the bathtub has allowed more room for a larger shower.

“This year’s Bathroom Trends Study sheds light on two key trends in master bathrooms, showers as a focal point and the growing role of high-tech features in bathroom products,” says Nino Sitchinava, principal economist at Houzz. “Additionally, it is clear that today’s master bathroom renovations are marked by timeless and durable elements, from natural stone finishes to curbless shower entries, a benefit of having older generations in the driver’s seat. Still, the early wave of millennial homeowners reveals their preferences for homes of the future, from larger master bathrooms to clean lines and white and gray color pallets.”

The Houzz study found that the national average for a major remodel of a large master bathroom (considered over 100 square feet) is $21,000.

from
http://feedproxy.google.com/~r/StyledStagedSold/~3/utdu7ruV6X0/

Mortgage Rates Rise to Begin Holiday-Shortened Week; Hurricanes' Effect on Delinqencies

Mortgage rates moved slightly higher today against the backdrop of the unique bond market conditions seen on Thanksgiving week. Bond markets underlie mortgage rates, and there's generally a certain level of participation that traders and mortgage lenders can count on. That participation wanes on major holiday weeks and the remaining players tend to behave a bit more conservatively. This is seen in the form of interest rates staying inside recent boundaries and mortgage lenders not getting too aggressive with pricing. Inside those boundaries, however, movement is far less predictable . After all, with fewer players in the game, each trader has a bigger say in the direction rates will move. If there are more bonds being sold than bought, regardless of the motivation, rates will move higher. This

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/20/3099

Home Building Surges to Year's Best Levels, Erasing Summertime Sadness; FHA/VA Over Half The Refi Market; Q3 Was Housing "Rough Patch"

It has been a while since all three measures covered in the residential construction report were strongly positive. In fact, certain metrics bordered on disconcerting during the summertime months. October's numbers represent a major departure from that previously stagnant theme. The joint report from the U.S. Census Bureau and the Department of Housing and Urban Development contained especially strong numbers for housing starts , which rose 13.7 percent from September to a seasonally adjusted annual rate of 1,290,000. The number represented the fastest pace since October 2016 and fell just 2.9 percent below that year-ago estimate of 1,328,000 units. Starts in September were also higher than originally reported, revised upward from 1,127,000 to 1,135,000. The start rate was well above even the

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/17/3095

Builder Confidence Nears Post-Crash High; Cordray Resigns; Rates Slightly Higher

Builder confidence increased for the second consecutive month after taking a hit in September from the late summer hurricanes. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 2 points in November, hitting 70, the highest score since March . It was also the second highest reading for the index which measures NAHB's new home builder members confidence in the new home market since July 2005. "November's builder confidence reading is close to a post-recession high - a strong indicator that the housing market continues to grow steadily," said NAHB Chairman Granger MacDonald. "However, our members still face supply-side constraints, such as lot and labor shortages and ongoing building material price increases." NAHB's monthly survey, which it has

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/16/3093

Fannie Testing New Construction Loan; FHA Insurance Fund In Trouble; Rates Lower After Inflation Data

With new home building still lagging other measures of the housing recovery, and lean inventories of new homes causing shortages of existing homes as well, Fannie Mae is seeking ways to provide a little help . The company has plans to test market at least one new product for purchasing newly constructed homes before they are built. A pilot program is still in the talking stages and apparently has not yet received approval from Fannie Mae's regulator, the Federal Housing Finance Agency. But according to sources at the company, the first initiative might make it cheaper and simpler to get a loan for new home construction. If a consumer wants to build a home, the present process calls for him or her to hire a builder and obtain a construction loan. When the house is complete, the borrower must

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/15/3091

Huge HELOC Potential; New Sales Recovery Expected; Volatility Ahead for Rates

Most households buy a home to live in and raise a family. Consequently, they may not view a home as a financial asset in the same way they view their cash savings or their retirement accounts. Only half of American workers are confident that they have or will have enough in savings to fund a comfortable retirement. These are two seemingly disparate statements, but a new study from the Urban Institute (UI) says the first could provide a partial solution to the second. A home is the most commonly owned asset in America and the most valuable one . It can be a critical source of financial security for elderly households that lack other income and savings. The study, conducted by Laurie Goodman, Karan Kaul and Jun Zhu, was commissioned by Finance of America Reverse to find how many borrowers could

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/14/3089

Mortgage Rates Rise to Begin Holiday-Shortened Week; Hurricanes' Effect on Delinqencies

Mortgage rates moved slightly higher today against the backdrop of the unique bond market conditions seen on Thanksgiving week. Bond markets underlie mortgage rates, and there's generally a certain level of participation that traders and mortgage lenders can count on. That participation wanes on major holiday weeks and the remaining players tend to behave a bit more conservatively. This is seen in the form of interest rates staying inside recent boundaries and mortgage lenders not getting too aggressive with pricing. Inside those boundaries, however, movement is far less predictable . After all, with fewer players in the game, each trader has a bigger say in the direction rates will move. If there are more bonds being sold than bought, regardless of the motivation, rates will move higher. This

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/20/3099

Home Building Surges to Year's Best Levels, Erasing Summertime Sadness; FHA/VA Over Half The Refi Market; Q3 Was Housing "Rough Patch"

It has been a while since all three measures covered in the residential construction report were strongly positive. In fact, certain metrics bordered on disconcerting during the summertime months. October's numbers represent a major departure from that previously stagnant theme. The joint report from the U.S. Census Bureau and the Department of Housing and Urban Development contained especially strong numbers for housing starts , which rose 13.7 percent from September to a seasonally adjusted annual rate of 1,290,000. The number represented the fastest pace since October 2016 and fell just 2.9 percent below that year-ago estimate of 1,328,000 units. Starts in September were also higher than originally reported, revised upward from 1,127,000 to 1,135,000. The start rate was well above even the

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/17/3095

Builder Confidence Nears Post-Crash High; Cordray Resigns; Rates Slightly Higher

Builder confidence increased for the second consecutive month after taking a hit in September from the late summer hurricanes. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 2 points in November, hitting 70, the highest score since March . It was also the second highest reading for the index which measures NAHB's new home builder members confidence in the new home market since July 2005. "November's builder confidence reading is close to a post-recession high - a strong indicator that the housing market continues to grow steadily," said NAHB Chairman Granger MacDonald. "However, our members still face supply-side constraints, such as lot and labor shortages and ongoing building material price increases." NAHB's monthly survey, which it has

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/16/3093

Fannie Testing New Construction Loan; FHA Insurance Fund In Trouble; Rates Lower After Inflation Data

With new home building still lagging other measures of the housing recovery, and lean inventories of new homes causing shortages of existing homes as well, Fannie Mae is seeking ways to provide a little help . The company has plans to test market at least one new product for purchasing newly constructed homes before they are built. A pilot program is still in the talking stages and apparently has not yet received approval from Fannie Mae's regulator, the Federal Housing Finance Agency. But according to sources at the company, the first initiative might make it cheaper and simpler to get a loan for new home construction. If a consumer wants to build a home, the present process calls for him or her to hire a builder and obtain a construction loan. When the house is complete, the borrower must

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/15/3091

Huge HELOC Potential; New Sales Recovery Expected; Volatility Ahead for Rates

Most households buy a home to live in and raise a family. Consequently, they may not view a home as a financial asset in the same way they view their cash savings or their retirement accounts. Only half of American workers are confident that they have or will have enough in savings to fund a comfortable retirement. These are two seemingly disparate statements, but a new study from the Urban Institute (UI) says the first could provide a partial solution to the second. A home is the most commonly owned asset in America and the most valuable one . It can be a critical source of financial security for elderly households that lack other income and savings. The study, conducted by Laurie Goodman, Karan Kaul and Jun Zhu, was commissioned by Finance of America Reverse to find how many borrowers could

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/14/3089

Mortgage Rates Sideways to Slightly Higher; Bond Markets Not in Kansas Anymore

Mortgage rates were unchanged to slightly higher today, keeping them in line with their highest levels in more than 2 weeks, depending on the lender. Bond markets (which underlie mortgage rates) were in slightly better shape this morning, but that failed to translate to rate sheet improvements due to bond market weakness on Friday afternoon. There were no significant economic reports or market moving headlines for bonds/rates today, but that will quickly change as the week progresses. Wednesday brings a key inflation report--the Consumer Price Index (CPI). Markets are also interested in any meaningful tax bill headlines, including the vote scheduled for the House version of the bill on Thursday. Amid this potential volatility, it's safer to assume the recent trend toward higher rates will remain

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/13/3087

Recap of 2017: The Best Year in a Decade

Macroeconomic conditions remained favorable for housing and mortgage markets in 2017. Despite challenges, the housing markets remain on track for... More

from
http://www.freddiemac.com/research/outlook/20171120_recap_2017.html?attr=rssCB

Hot Home Trend: The Statement Shower

By Melissa Dittmann Tracey, REALTOR® Magazine

The shower in the master bathroom is getting a lot more attention. In fact, it’s one of the main splurges among renovating homeowners, according to the 2017 U.S. Houzz Bathroom Trends Study. These “statement showers,” as Houzz dubs them in its report, include high-tech features, like rainfall showerheads, dual showers, curbless showers, and body sprays.

Photo by Alex Maguire Photography – Browse bathroom photos

 

Upgrading the master shower was the most popular renovation project, according to the survey of more than 1,200 U.S. homeowners who were in the midst or just completed a bathroom reno project. For more than half of renovators, their main aim was to increase their shower’s size. Also, survey respondents showed a rise in demand for high-tech features, such as mood lighting or digital controls, in master bathrooms.

Over a quarter of homeowners – 27 percent – have opted to remove the bathtub in their master bathroom renovations, according to the survey. The removal of the bathtub has allowed more room for a larger shower.

“This year’s Bathroom Trends Study sheds light on two key trends in master bathrooms, showers as a focal point and the growing role of high-tech features in bathroom products,” says Nino Sitchinava, principal economist at Houzz. “Additionally, it is clear that today’s master bathroom renovations are marked by timeless and durable elements, from natural stone finishes to curbless shower entries, a benefit of having older generations in the driver’s seat. Still, the early wave of millennial homeowners reveals their preferences for homes of the future, from larger master bathrooms to clean lines and white and gray color pallets.”

The Houzz study found that the national average for a major remodel of a large master bathroom (considered over 100 square feet) is $21,000.

from
http://styledstagedsold.blogs.realtor.org/2017/11/20/hot-home-trend-the-statement-shower/

Roundup: Kroger opens downtown grocery; Broken English debuts

Downtown gets a new grocery and taco restaurant; a seafood restaurant makes a move in Zionsville; Keystone Crossing lands new pizza place; and a midtown diner closes after four months.

from
https://www.ibj.com/blogs/3-property-lines/post/66293-roundup-kroger-opens-downtown-grocery-broken-english-debuts

Zillow Predicts Suburban Sprawl to Return in 2018

Zillow experts predict a shift toward suburban living next year as low inventory and rising construction costs reach a tipping point, forcing builders and buyers to consider new options

from
http://zillow.mediaroom.com/2017-11-15-Zillow-Predicts-Suburban-Sprawl-to-Return-in-2018

Keystone at the Crossing restaurant closes after 22-year run

The high-end, sports-centric bar and eatery shut its doors on Sunday, but its downtown location at Circle Centre mall remains open.

from
https://www.ibj.com/blogs/3-property-lines/post/66254-keystone-at-the-crossing-restaurant-closes-after-22-year-run

View the Possibilities With Virtual Staging

By Brian Balduf, VHT Studios

Appealing to home buyers is all about making that emotional connection. Smart marketers know emotions trump other factors, especially when you hear buyers say the listing “just feels right.” They may be searching for a new house, but they’re envisioning their next home.

Buyers’ emotional experience while home shopping is heightened even more by stunning real estate photography that is the attention-grabber in the age of Facebook, Instagram, Pinterest, YouTube and Houzz.

Breathtaking photographs and video stir buyers’ emotions and imaginations and prompt dreams about how they’ll live in that home.

New virtual staging tools go even one step further. Virtual staging makes a listing stand out and allows buyers to visualize their dreams – not only in their minds – but on their monitors or mobile devices.

When marketing to those buyers, virtual staging allows real estate professionals to present the rooms of a listing in many styles and functions, enabling agents to reach the widest audience possible by appealing to myriad tastes and lifestyle needs.

Virtual Staging blows up the current one-size-fits-all listing model and gives real estate pros far greater flexibility in customizing a listing to the desires and expectations of their perceived audiences.

It starts with high quality photographs, the standard for showing how a home is currently furnished and decorated today for its current owner.  Virtual staging tools inserted into or enhancing those photographs amp up the features of a listing and showcase why each room is a great space and how it can be used, whether the prospective owner is a workout enthusiast, a craft hobbyist, or a new parent.

Also, virtual staging eliminates the expense of renting furnishings or hiring traditional stagers, while allowing buyers to mentally prepare how they can live in their prospective home.

Virtual staging helps buyers look beyond the stark, off-putting appearance of a vacant room. It also presents decorating options that enhance, for instance, a living room containing worn carpeting and outdated furniture that could leave a bad impression.

Virtual staging presents a property’s potential and can attract and interest different audiences with a variety of lifestyles.

See for yourself how virtual staging was used successfully by Robert Pribyl and Bernadette Ray, with Berkshire Hathaway HomeServices KoenigRubloff Realty Group in Chicago. Robert says they took advantage of virtual staging’s flexibility for a vacant and fully remodeled 130-year old house in the trendy Logan Square neighborhood.

Virtually staged by VHT Studios

“This neighborhood is very hot. It’s become a magnet for millennials and high-net worth investors, so we needed to showcase how single professionals or families with different needs might live in the home,” Pribyl says. “I like the modern furniture that buyers see in the living room – it fits the style of the buyers I’m trying to attract. The home looks more appealing to buyers when they can see select rooms that are furnished.

They used virtual staging to showcase how a bedroom might appeal, for instance, to a young couple with a newborn. They also transformed that same vacant bedroom into an office and an exercise room for a young entrepreneur or a workout enthusiast.

 

Virtually staged by VHT Studios

Virtually staged by VHT Studios

In the finished basement, virtual staging allowed the duo to show the space’s potential as a child’s playroom and man-cave for TV sports fans and game lovers.

Virtually staged by VHT Studios

Virtually staged by VHT Studios

Virtually staged by VHT Studios

In just four weeks after installing virtual photographs, they received multiple offers on the listing, and as of this writing, they were in negotiations with potential buyers.

Virtual staging opens many real estate marketing options which up until now have been impossible to deploy. There are now unlimited ways to present a room’s functions or decor through virtual tools.

Real estate professionals are also applying flexibility to how they use virtually staged photographs. In addition to websites, advertising and brochures, agents are using enlarged virtually staged photographs that depict multiple room functions and placing them on easels in each room of their listings. This allows buyers to instantly recall the virtually staged home they viewed online, as well as to envision the many possibilities.

Also, consider these other virtual tools that can solve common headaches that real estate professionals have had to work through over the years:

• Virtual paint is helpful when walls need a fresh coat of paint or when dated wallpaper needs a makeover.
• Virtual declutter removes mementos and personal effects that may be cherished by the owner but are distractions to buyers.
• And virtual twilight wows buyers and with warm, romantic, and welcoming exterior views that appeared to be photographed at dusk.

Here’s another example of a virtually staged living space at a listing in Rosemont, Ill. See how the space has been configured to appeal to different style preferences.

Virtually staged by VHT Studios

Virtually staged by VHT Studios

Virtually staged by VHT Studios

Don’t Try This at Home!

Some digital photography pros may be tempted to hire a Photoshop hobbyist to digitally alter photos with virtual enhancements. Having great Photoshop skills doesn’t guarantee beautiful virtual staging.

Installing a virtual couch into a photograph and hitting “Sharpen My Image” may do more harm than good to a vacant room.  Often the end result looks like the old Colorforms stickers we played with as kids.

Experienced virtual stagers are studio and image specialists who have composition skills in real estate photography and know how to blend multiple exposures in which lighting, window views, and details are merged to create the final composite photography.

They also understand perspective, shadows, and size in relation to room dimensions.

We advocate trusting your visual marketing to a pro, just as real estate brokers advocate to their clients.

The newest visual marketing tools are proof that real estate marketing is no longer a one-size-fits-all proposition. Smart professionals are adopting these tools to reach a much wider audience, to make a greater first impression on potential buyers, and sell homes faster and at the best price.

ABOUT THE AUTHOR: Brian Balduf, CEO, chairman and co-founder of VHT Studios, has built the Rosemont, Ill.-based firm into the nation’s largest real estate photography and image management services company. Since he co-founded the company in 1998, VHT Studios has helped more than 200,000 real estate professionals sell more than $200 billion in properties through its nationwide network of hundreds of photographers and image specialists. Delivering to real estate professionals their most powerful selling tools – high quality photography and video – Balduf has worked to ensure their properties get seen more, sell faster and at the highest price. For more information, visit VHT.com, The VHT Studios Blog or find us on Facebook, LinkedIn, Twitter and Instagram.

from
http://feedproxy.google.com/~r/StyledStagedSold/~3/5eORwMwj4s8/

Here Come the Holidays - Show 458

Real Estate Today Radio - SHOW 458

On this week's Real Estate Today, it's our special show "Here Come the Holidays."

This Week's Show Includes:
- Top News Of The Week
- Giving Thanks - Buyers and Sellers
- Giving Thanks - Homeowners
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

from
http://retradio.com

Home Building Surges to Year's Best Levels, Erasing Summertime Sadness; FHA/VA Over Half The Refi Market; Q3 Was Housing "Rough Patch"

It has been a while since all three measures covered in the residential construction report were strongly positive. In fact, certain metrics bordered on disconcerting during the summertime months. October's numbers represent a major departure from that previously stagnant theme. The joint report from the U.S. Census Bureau and the Department of Housing and Urban Development contained especially strong numbers for housing starts , which rose 13.7 percent from September to a seasonally adjusted annual rate of 1,290,000. The number represented the fastest pace since October 2016 and fell just 2.9 percent below that year-ago estimate of 1,328,000 units. Starts in September were also higher than originally reported, revised upward from 1,127,000 to 1,135,000. The start rate was well above even the

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/17/3095

Builder Confidence Nears Post-Crash High; Cordray Resigns; Rates Slightly Higher

Builder confidence increased for the second consecutive month after taking a hit in September from the late summer hurricanes. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 2 points in November, hitting 70, the highest score since March . It was also the second highest reading for the index which measures NAHB's new home builder members confidence in the new home market since July 2005. "November's builder confidence reading is close to a post-recession high - a strong indicator that the housing market continues to grow steadily," said NAHB Chairman Granger MacDonald. "However, our members still face supply-side constraints, such as lot and labor shortages and ongoing building material price increases." NAHB's monthly survey, which it has

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/16/3093

Fannie Testing New Construction Loan; FHA Insurance Fund In Trouble; Rates Lower After Inflation Data

With new home building still lagging other measures of the housing recovery, and lean inventories of new homes causing shortages of existing homes as well, Fannie Mae is seeking ways to provide a little help . The company has plans to test market at least one new product for purchasing newly constructed homes before they are built. A pilot program is still in the talking stages and apparently has not yet received approval from Fannie Mae's regulator, the Federal Housing Finance Agency. But according to sources at the company, the first initiative might make it cheaper and simpler to get a loan for new home construction. If a consumer wants to build a home, the present process calls for him or her to hire a builder and obtain a construction loan. When the house is complete, the borrower must

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/15/3091

Huge HELOC Potential; New Sales Recovery Expected; Volatility Ahead for Rates

Most households buy a home to live in and raise a family. Consequently, they may not view a home as a financial asset in the same way they view their cash savings or their retirement accounts. Only half of American workers are confident that they have or will have enough in savings to fund a comfortable retirement. These are two seemingly disparate statements, but a new study from the Urban Institute (UI) says the first could provide a partial solution to the second. A home is the most commonly owned asset in America and the most valuable one . It can be a critical source of financial security for elderly households that lack other income and savings. The study, conducted by Laurie Goodman, Karan Kaul and Jun Zhu, was commissioned by Finance of America Reverse to find how many borrowers could

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/14/3089

Mortgage Rates Sideways to Slightly Higher; Bond Markets Not in Kansas Anymore

Mortgage rates were unchanged to slightly higher today, keeping them in line with their highest levels in more than 2 weeks, depending on the lender. Bond markets (which underlie mortgage rates) were in slightly better shape this morning, but that failed to translate to rate sheet improvements due to bond market weakness on Friday afternoon. There were no significant economic reports or market moving headlines for bonds/rates today, but that will quickly change as the week progresses. Wednesday brings a key inflation report--the Consumer Price Index (CPI). Markets are also interested in any meaningful tax bill headlines, including the vote scheduled for the House version of the bill on Thursday. Amid this potential volatility, it's safer to assume the recent trend toward higher rates will remain

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/13/3087

Home Building Surges to Year's Best Levels, Erasing Summertime Sadness; FHA/VA Over Half The Refi Market; Q3 Was Housing "Rough Patch"

It has been a while since all three measures covered in the residential construction report were strongly positive. In fact, certain metrics bordered on disconcerting during the summertime months. October's numbers represent a major departure from that previously stagnant theme. The joint report from the U.S. Census Bureau and the Department of Housing and Urban Development contained especially strong numbers for housing starts , which rose 13.7 percent from September to a seasonally adjusted annual rate of 1,290,000. The number represented the fastest pace since October 2016 and fell just 2.9 percent below that year-ago estimate of 1,328,000 units. Starts in September were also higher than originally reported, revised upward from 1,127,000 to 1,135,000. The start rate was well above even the

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/17/3095

Here Come the Holidays - Show 458

Real Estate Today Radio - SHOW 458

On this week's Real Estate Today, it's our special show "Here Come the Holidays."

This Week's Show Includes:
- Top News Of The Week
- Giving Thanks - Buyers and Sellers
- Giving Thanks - Homeowners
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

from
http://retradio.com

Builder Confidence Nears Post-Crash High; Cordray Resigns; Rates Slightly Higher

Builder confidence increased for the second consecutive month after taking a hit in September from the late summer hurricanes. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 2 points in November, hitting 70, the highest score since March . It was also the second highest reading for the index which measures NAHB's new home builder members confidence in the new home market since July 2005. "November's builder confidence reading is close to a post-recession high - a strong indicator that the housing market continues to grow steadily," said NAHB Chairman Granger MacDonald. "However, our members still face supply-side constraints, such as lot and labor shortages and ongoing building material price increases." NAHB's monthly survey, which it has

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/16/3093

Roundup: Kroger opens downtown grocery; Broken English debuts taqueria

The supermarket chain marks its first downtown locale, while Noah Grant's moves across Main Street in Zionsville and 22nd Street Diner closes after four months.

from
https://www.ibj.com/blogs/3-property-lines/post/66293-roundup-kroger-opens-downtown-grocery-broken-english-debuts-taqueria

Where We Stand - Show 457

Real Estate Today Radio - SHOW 457

On this week's Real Estate Today, it's our special show "Where We Stand."

This Week's Show Includes:
- Top News Of The Week
- What Tight Inventory Means to You - Part 1
- What Tight Inventory Means to You - Part 2
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

from
http://retradio.com

Fannie Testing New Construction Loan; FHA Insurance Fund In Trouble; Rates Lower After Inflation Data

With new home building still lagging other measures of the housing recovery, and lean inventories of new homes causing shortages of existing homes as well, Fannie Mae is seeking ways to provide a little help . The company has plans to test market at least one new product for purchasing newly constructed homes before they are built. A pilot program is still in the talking stages and apparently has not yet received approval from Fannie Mae's regulator, the Federal Housing Finance Agency. But according to sources at the company, the first initiative might make it cheaper and simpler to get a loan for new home construction. If a consumer wants to build a home, the present process calls for him or her to hire a builder and obtain a construction loan. When the house is complete, the borrower must

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/15/3091

Zillow Predicts Suburban Sprawl to Return in 2018

Zillow experts predict a shift toward suburban living next year as low inventory and rising construction costs reach a tipping point, forcing builders and buyers to consider new options

from
http://zillow.mediaroom.com/2017-11-15-Zillow-Predicts-Suburban-Sprawl-to-Return-in-2018

Keystone at the Crossing restaurant closes after 22-year run

The high-end, sports-centric bar and eatery shut its doors on Sunday, but its downtown location at Circle Centre mall remains open.

from
https://www.ibj.com/blogs/3-property-lines/post/66254-keystone-at-the-crossing-restaurant-closes-after-22-year-run

One Fountain Square apartment project opening, another progressing

The five-story Forte on Shelby Street is set to welcome its first tenants next month, while the developer of a similar project five blocks east prepares to get under way.

from
https://www.ibj.com/blogs/3-property-lines/post/66209-one-fountain-square-apartment-project-opening-another-progressing

Huge HELOC Potential; New Sales Recovery Expected; Volatility Ahead for Rates

Most households buy a home to live in and raise a family. Consequently, they may not view a home as a financial asset in the same way they view their cash savings or their retirement accounts. Only half of American workers are confident that they have or will have enough in savings to fund a comfortable retirement. These are two seemingly disparate statements, but a new study from the Urban Institute (UI) says the first could provide a partial solution to the second. A home is the most commonly owned asset in America and the most valuable one . It can be a critical source of financial security for elderly households that lack other income and savings. The study, conducted by Laurie Goodman, Karan Kaul and Jun Zhu, was commissioned by Finance of America Reverse to find how many borrowers could

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/14/3089

Mortgage Rates Sideways to Slightly Higher; Bond Markets Not in Kansas Anymore

Mortgage rates were unchanged to slightly higher today, keeping them in line with their highest levels in more than 2 weeks, depending on the lender. Bond markets (which underlie mortgage rates) were in slightly better shape this morning, but that failed to translate to rate sheet improvements due to bond market weakness on Friday afternoon. There were no significant economic reports or market moving headlines for bonds/rates today, but that will quickly change as the week progresses. Wednesday brings a key inflation report--the Consumer Price Index (CPI). Markets are also interested in any meaningful tax bill headlines, including the vote scheduled for the House version of the bill on Thursday. Amid this potential volatility, it's safer to assume the recent trend toward higher rates will remain

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/13/3087

Mortgage Rates Jump to 2-Week Highs; Not a Bubble if it Doesn't Burst

What a difference 2 days make! Freddie Mac's weekly rate survey was out yesterday prompting multiple news outlets to declare "slightly lower rates" on the week. Given that Freddie's survey only gathers responses through any given Wednesday, the results jived with what we were seeing on lenders' actual rate sheets. On Wednesday, mortgage rates were indeed at their best levels in more than 3 weeks. But after 2 days of relatively aprupt weakness, rates quickly find themselves at the highest levels in 2 weeks. Adding to the frustration is the absence of any single, obvious motivation for the weakness. In order to account for it, we'd have to discuss several esoteric developments in bond markets (if you're into that sort of thing, I go into more detail in the MBS Commentary channel). One simple

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/10/3083

Mortgage Rates Higher After Senate Tax Plan; Would Student Loan Mortgages Fix Homeownership?

Mortgage rates moved higher for the first time this week, ending a 3-day run at the best levels since mid-October. Today's rates are roughly in line with those seen on November 3rd. Compared to yesterday's closing levels, bond markets (which dictate mortgage rates) are roughly unchanged today. That typically corresponds with relatively unchanged mortgage rates. Today's departure from the norm is due to bond market weakness yesterday afternoon, which came on too gradually and too late in the day for most lenders to adjust rate sheets accordingly. Moreover, bond markets were actually in weaker territory this morning when lenders released today's rate sheets. That means they had to account for yesterday's bond market weakness as well as the additional AM weakness today. The bounce back in bond

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/9/3081

Some Signs of Pressure on Rates and Housing Sentiment; Do Renters Have it Easier Than Buyers?

Mortgage rates held steady again today, keeping them in line with the lowest levels in more than 3 weeks. They've also been uncommonly calm so far this week, which certainly isn't a bad thing when we're at 3-week lows. The calm trend began showing cracks at the end of the day in terms of underlying bond markets (movement in bonds ultimately dictates movement in mortgage rates). Bonds began to weaken in the afternoon. "Weakness" in bonds corresponds to higher rates. To put the move in context, bonds are still in better territory than they were on any day last week. In other words, the weakness is quite modest for now. The risk is that it signifies some sort of shift because of bond trading behavior over the past 2 days. To oversimplify a complex phenomenon, bonds (the ones we watch to get a

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/8/3079

Overvaluation Becoming a Bigger Issue; Jumbo Availability Declined; How Much do Rates Affect Affordability?

Data from CoreLogic could be sounding a bubble alarm. The company's Home Price Report for September jumped almost a point from the previous month, and the company says nearly half of the largest metropolitan areas are overvalued. The CoreLogic Home Price Index (HPI) rose 0.9 percent for the third consecutive month in September and the index has averaged 1.1 percent gains over the first nine months of 2017. On a year over year basis, the index was up 7.0 percent tying it with February as the second largest gain so far this year, behind only March with an annual increase of 7.1 percent. The change from August to September was 6.9 percent. The CoreLogic Market Condition Indicators (MCI) data is an analysis of housing values in the country's 100 largest metropolitan areas based on housing stock

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/7/3077

Mortgage Rates Sideways to Slightly Higher; Bond Markets Not in Kansas Anymore

Mortgage rates were unchanged to slightly higher today, keeping them in line with their highest levels in more than 2 weeks, depending on the lender. Bond markets (which underlie mortgage rates) were in slightly better shape this morning, but that failed to translate to rate sheet improvements due to bond market weakness on Friday afternoon. There were no significant economic reports or market moving headlines for bonds/rates today, but that will quickly change as the week progresses. Wednesday brings a key inflation report--the Consumer Price Index (CPI). Markets are also interested in any meaningful tax bill headlines, including the vote scheduled for the House version of the bill on Thursday. Amid this potential volatility, it's safer to assume the recent trend toward higher rates will remain

from
http://www.mortgagenewsdaily.com/reports/newsletter/2017/11/13/3087

Keystone at the Crossing restaurant closes after 22-year run

The high-end, sports-centric bar and eatery shut its doors on Sunday, but its downtown location at Circle Centre mall remains open.

from
https://www.ibj.com/blogs/3-property-lines/post/66254-keystone-at-the-crossing-restaurant-closes-after-22-year-run

View the Possibilities With Virtual Staging

By Brian Balduf, VHT Studios

Appealing to home buyers is all about making that emotional connection. Smart marketers know emotions trump other factors, especially when you hear buyers say the listing “just feels right.” They may be searching for a new house, but they’re envisioning their next home.

Buyers’ emotional experience while home shopping is heightened even more by stunning real estate photography that is the attention-grabber in the age of Facebook, Instagram, Pinterest, YouTube and Houzz.

Breathtaking photographs and video stir buyers’ emotions and imaginations and prompt dreams about how they’ll live in that home.

New virtual staging tools go even one step further. Virtual staging makes a listing stand out and allows buyers to visualize their dreams – not only in their minds – but on their monitors or mobile devices.

When marketing to those buyers, virtual staging allows real estate professionals to present the rooms of a listing in many styles and functions, enabling agents to reach the widest audience possible by appealing to myriad tastes and lifestyle needs.

Virtual Staging blows up the current one-size-fits-all listing model and gives real estate pros far greater flexibility in customizing a listing to the desires and expectations of their perceived audiences.

It starts with high quality photographs, the standard for showing how a home is currently furnished and decorated today for its current owner.  Virtual staging tools inserted into or enhancing those photographs amp up the features of a listing and showcase why each room is a great space and how it can be used, whether the prospective owner is a workout enthusiast, a craft hobbyist, or a new parent.

Also, virtual staging eliminates the expense of renting furnishings or hiring traditional stagers, while allowing buyers to mentally prepare how they can live in their prospective home.

Virtual staging helps buyers look beyond the stark, off-putting appearance of a vacant room. It also presents decorating options that enhance, for instance, a living room containing worn carpeting and outdated furniture that could leave a bad impression.

Virtual staging presents a property’s potential and can attract and interest different audiences with a variety of lifestyles.

See for yourself how virtual staging was used successfully by Robert Pribyl and Bernadette Ray, with Berkshire Hathaway HomeServices KoenigRubloff Realty Group in Chicago. Robert says they took advantage of virtual staging’s flexibility for a vacant and fully remodeled 130-year old house in the trendy Logan Square neighborhood.

Virtually staged by VHT Studios

“This neighborhood is very hot. It’s become a magnet for millennials and high-net worth investors, so we needed to showcase how single professionals or families with different needs might live in the home,” Pribyl says. “I like the modern furniture that buyers see in the living room – it fits the style of the buyers I’m trying to attract. The home looks more appealing to buyers when they can see select rooms that are furnished.

They used virtual staging to showcase how a bedroom might appeal, for instance, to a young couple with a newborn. They also transformed that same vacant bedroom into an office and an exercise room for a young entrepreneur or a workout enthusiast.

 

Virtually staged by VHT Studios

Virtually staged by VHT Studios

In the finished basement, virtual staging allowed the duo to show the space’s potential as a child’s playroom and man-cave for TV sports fans and game lovers.

Virtually staged by VHT Studios

Virtually staged by VHT Studios

Virtually staged by VHT Studios

In just four weeks after installing virtual photographs, they received multiple offers on the listing, and as of this writing, they were in negotiations with potential buyers.

Virtual staging opens many real estate marketing options which up until now have been impossible to deploy. There are now unlimited ways to present a room’s functions or decor through virtual tools.

Real estate professionals are also applying flexibility to how they use virtually staged photographs. In addition to websites, advertising and brochures, agents are using enlarged virtually staged photographs that depict multiple room functions and placing them on easels in each room of their listings. This allows buyers to instantly recall the virtually staged home they viewed online, as well as to envision the many possibilities.

Also, consider these other virtual tools that can solve common headaches that real estate professionals have had to work through over the years:

• Virtual paint is helpful when walls need a fresh coat of paint or when dated wallpaper needs a makeover.
• Virtual declutter removes mementos and personal effects that may be cherished by the owner but are distractions to buyers.
• And virtual twilight wows buyers and with warm, romantic, and welcoming exterior views that appeared to be photographed at dusk.

Here’s another example of a virtually staged living space at a listing in Rosemont, Ill. See how the space has been configured to appeal to different style preferences.

Virtually staged by VHT Studios

Virtually staged by VHT Studios

Virtually staged by VHT Studios

Don’t Try This at Home!

Some digital photography pros may be tempted to hire a Photoshop hobbyist to digitally alter photos with virtual enhancements. Having great Photoshop skills doesn’t guarantee beautiful virtual staging.

Installing a virtual couch into a photograph and hitting “Sharpen My Image” may do more harm than good to a vacant room.  Often the end result looks like the old Colorforms stickers we played with as kids.

Experienced virtual stagers are studio and image specialists who have composition skills in real estate photography and know how to blend multiple exposures in which lighting, window views, and details are merged to create the final composite photography.

They also understand perspective, shadows, and size in relation to room dimensions.

We advocate trusting your visual marketing to a pro, just as real estate brokers advocate to their clients.

The newest visual marketing tools are proof that real estate marketing is no longer a one-size-fits-all proposition. Smart professionals are adopting these tools to reach a much wider audience, to make a greater first impression on potential buyers, and sell homes faster and at the best price.

ABOUT THE AUTHOR: Brian Balduf, CEO, chairman and co-founder of VHT Studios, has built the Rosemont, Ill.-based firm into the nation’s largest real estate photography and image management services company. Since he co-founded the company in 1998, VHT Studios has helped more than 200,000 real estate professionals sell more than $200 billion in properties through its nationwide network of hundreds of photographers and image specialists. Delivering to real estate professionals their most powerful selling tools – high quality photography and video – Balduf has worked to ensure their properties get seen more, sell faster and at the highest price. For more information, visit VHT.com, The VHT Studios Blog or find us on Facebook, LinkedIn, Twitter and Instagram.

from
http://styledstagedsold.blogs.realtor.org/2017/11/13/why-you-might-want-to-consider-virtual-staging-see-the-difference/

Homeownership is a Shared Value across Party Lines

The national homeownership rate is at its highest level since 2014, and a full percentage point above the historical low set in the second quarter of 2016

from
http://zillow.mediaroom.com/2017-11-10-Homeownership-is-a-Shared-Value-across-Party-Lines

Where We Stand - Show 457

Real Estate Today Radio - SHOW 457

On this week's Real Estate Today, it's our special show "Where We Stand."

This Week's Show Includes:
- Top News Of The Week
- What Tight Inventory Means to You - Part 1
- What Tight Inventory Means to You - Part 2
- Ask The Millennial
- Smart Home Technology
- Get REALTOR(R)

Become a part of the community at http://retradio.com!

from
http://retradio.com

One Fountain Square apartment project opening, another progressing

The five-story Forte on Shelby Street is set to welcome its first tenants next month, while the developer of a similar project five blocks east prepares to get under way.

from
https://www.ibj.com/blogs/3-property-lines/post/66209-one-fountain-square-apartment-project-opening-another-progressing

Home Buyers Need to Save up to $600 a Month -- Just to Keep Up with Rising Home Prices

Saving for a down payment is a moving target for many first-time buyers, especially in pricey markets like Seattle and San Jose, where home values are expected to rise as much as $36,000 over the next year

from
http://zillow.mediaroom.com/2017-11-09-Home-Buyers-Need-to-Save-up-to-600-a-Month-Just-to-Keep-Up-with-Rising-Home-Prices

Sun King adding sausage-centric restaurant to downtown brewery

Oca, which opens Friday, is operated by a familiar name and will feature a variety of house-made game, vegetarian and seafood sausages.

from
https://www.ibj.com/blogs/3-property-lines/post/66162-sun-king-adding-sausage-centric-restaurant-to-downtown-brewery

Use Plants to Showcase a Healthier Home

By Melissa Dittmann Tracey, REALTOR(R) Magazine

You can clean the air with plants. And in an age when “healthy home” is what so many buyers are saying they crave, you may find this a cheaper alternative to improving the air quality in a home by just being smarter about the plants you choose to stage with.

The Center for REALTOR(R) Technology has been studying how plants can improve indoor air quality, and has written a book on the topic, “A Pocket Guide to Cleaner Air.” The book focuses on which plants can improve air quality in commercial settings. Their findings can also apply to residential spaces too.

At the 2017 REALTOR(R) Conference & Expo this past weekend, CRT showcased an orb of clean-air plants on the show floor. We thought it looked like a chic space for an outdoor oasis of fresh air. But as the healthier-home trend catches on more, maybe we’ll even see this idea move indoors—like an indoor tropical paradise home office orb. After all, the cleaner air is supposed to make you more productive.

CRT’s clean-air orb display during the 2017 REALTOR(R) Conference & Expo

The average American spends about 90 percent of their time indoors. Yet, indoor air quality is about five to 10 times worse than outdoor air quality.

Certain plants, however, can actually improve the air quality of a space and even make people more productive and healthier, research shows. For example, dracaena warneckii is known for cleaning benzene and formaldehyde from the air—chemicals that are often linked to some furnishings. The “Money Plant,” or also known as Devil’s Ivy, is known as one of the hardiest house plants to kill and also will rid these potentially harmful chemicals from the air. The Chinese evergreen is another plant that is known to clean indoor air, and as a bonus for when selling a home, it’s known to bring good luck to those who grow it.

Infuse more clean-air plants into your next listing. Maybe buyers will notice there’s something different in the air.

A sample taken from CRT’s book “A Pocket Guide to Cleaner Air”

 

 

from
http://feedproxy.google.com/~r/StyledStagedSold/~3/zKXbZ7uvZpk/

The 'B' Word: Can We Spot the Next House Price Bubble?

'Are we in a house price bubble?' That's generally the first question I get after every presentation I make these days. More

from
http://www.freddiemac.com/research/insight/20171109_next_house_price_bubble.html?attr=rssCB

Use Plants to Showcase a Healthier Home

By Melissa Dittmann Tracey, REALTOR(R) Magazine

You can clean the air with plants. And in an age when “healthy home” is what so many buyers are saying they crave, you may find this a cheaper alternative to improving the air quality in a home by just being smarter about the plants you choose to stage with.

The Center for REALTOR(R) Technology has been studying how plants can improve indoor air quality, and has written a book on the topic, “A Pocket Guide to Cleaner Air.” The book focuses on which plants can improve air quality in commercial settings. Their findings can also apply to residential spaces too.

At the 2017 REALTOR(R) Conference & Expo this past weekend, CRT showcased an orb of clean-air plants on the show floor. We thought it looked like a chic space for an outdoor oasis of fresh air. But as the healthier-home trend catches on more, maybe we’ll even see this idea move indoors—like an indoor tropical paradise home office orb. After all, the cleaner air is supposed to make you more productive.

CRT’s clean-air orb display during the 2017 REALTOR(R) Conference & Expo

The average American spends about 90 percent of their time indoors. Yet, indoor air quality is about five to 10 times worse than outdoor air quality.

Certain plants, however, can actually improve the air quality of a space and even make people more productive and healthier, research shows. For example, dracaena warneckii is known for cleaning benzene and formaldehyde from the air—chemicals that are often linked to some furnishings. The “Money Plant,” or also known as Devil’s Ivy, is known as one of the hardiest house plants to kill and also will rid these potentially harmful chemicals from the air. The Chinese evergreen is another plant that is known to clean indoor air, and as a bonus for when selling a home, it’s known to bring good luck to those who grow it.

Infuse more clean-air plants into your next listing. Maybe buyers will notice there’s something different in the air.

A sample taken from CRT’s book “A Pocket Guide to Cleaner Air”

 

 

from
http://feedproxy.google.com/~r/StyledStagedSold/~3/zKXbZ7uvZpk/

The 'B' Word: Can We Spot the Next House Price Bubble?

'Are we in a house price bubble?' That's generally the first question I get after every presentation I make these days. More

from
http://www.freddiemac.com/research/insight/20171109_next_house_price_bubble.html?attr=rssCB