Jumbo Loans Back in Style?; Homeready vs FHA

Taking out a mortgage with an origination balance higher than whatever the conventional loan limit was at the time used to be an expensive proposition. Home buyers and refinancers had an incentive to do whatever they could - higher down payments, piggy back second mortgages - to get their loan under that conventional limit in order to reap the benefits of lower borrowing costs. However, as Archana Prahan writes in the CoreLogic Insights Blog, since mid-2013 a jumbo loan has had lower borrower costs than a conforming loan, currently defined as one with a balance at or under $453,100. In the first quarter of 2018 that differential averaged 33 basis points (bps). As Figure 1 shows, conforming loans were cheaper during the period from the second quarter of 2007 to the first quarter of 2013, (blue

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/31/3526

Finish Line to convert local shopping mall store to JD Sports brand

JD Sports, based in England, acquired Indianapolis-based Finish Line in June and is testing whether to convert the entire 555-store Finish Line chain to its brand.

from
https://www.ibj.com/blogs/19-property-lines/post/70329-finish-line-to-convert-greenwood-mall-store-to-jd-sports-brand

Think Like A Home Inspector - Show 499

Real Estate Today Radio - SHOW 499

On this week's Real Estate Today, it's our special show "Think Like A Home Inspector."

This Week's Show Includes:
- Top News Of The Week
- Put Those Tools to Bed
- The Cut-Offs
- Smart Home Technology
- Get REALTOR(R)

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

from
http://retradio.com

Freddie Mac Updates Selling Guide, Introduces New Product; Boring Mortgage Rates; The Range!

Freddie Mac will be consolidating two of its mortgage products into a single offering effective October 29, 2018. The company announced this and other changes to its Selling Guide in a Bulletin on Wednesday. The affected products are Freddie Mac's Home Possible and Home Possible Advantage Mortgages. The company said it is making the change in response to seller feedback and to provide those sellers with improved operational efficiencies and ease of use. The new product will offer the same loan-to-value (LTV) and total LTV (TLTV) ratios as in the Home Possible Advantage program although certain requirements and loan attributes will continue to vary depending on those ratios. The new product, to be called Home Possible Mortgages , will permit non-owner occupant borrowers on loans secured by one

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/30/3524

Strong Economic Growth Despite Weaker Housing Market Activity

The U.S. economy accelerated in the second quarter of 2018, with real GDP growth at 4.1 percent, which was the strongest quarterly growth rate since the third quarter of 2014. More

from
http://www.freddiemac.com/research/outlook/20180827_strong_economic_growth.html?attr=rssEHR

Rebellion Doughnuts opening in Noblesville, City Market

Restaurant-owning lawyers branching into sweet treats. Also this week: Coffee and Table, Courtyard by Marriott, Floors & Decor, Grand Appliance and TV, Camp Bow Wow, Qdoba, Foundry 317 and more.

from
https://www.ibj.com/blogs/19-property-lines/post/70302-rebellion-doughnuts-opening-in-noblesville-city-market

One Dollar Will Get You the Most Space in Memphis and Oklahoma City

New Zillow analysis lets potential home buyers visualize just how much space one dollar will buy them in some of the largest cities across the country

from
http://zillow.mediaroom.com/2018-08-30-One-Dollar-Will-Get-You-the-Most-Space-in-Memphis-and-Oklahoma-City

Realtors See Housing Starting to Cool; Lenders Back in Black; "Young" Housing in Sun Belt

Expectations weren't particularly high for a solid July report on home purchase contracts, but today's report from the National Association of Realtors® (NAR) didn't meet even those . NAR's Pending Home Sales Index (PHSI) came in at 106.2, down from an upwardly revised (from 106.9) 107.0 in June, a decline of 0.7 percent. The decrease put the PHSI 2.3 percent behind its level in July 2017. It was the seventh straight month the NAR's leading indicator for existing home sales has trailed on an annual basis. It would have been difficult for the results to fall outside of the wide range of estimates from analysts polled by Econoday. They ranged from a loss of 1.1 percent to a positive 1.0 percent change. However, the July index was well off the consensus which was for the index to remain unchanged

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/29/3522

Strong Economic Growth Despite Weaker Housing Market Activity

The U.S. economy accelerated in the second quarter of 2018, with real GDP growth at 4.1 percent, which was the strongest quarterly growth rate since the third quarter of 2014. More

from
http://www.freddiemac.com/research/outlook/20180827_strong_economic_growth.html?attr=rssEHR

Strong Economic Growth Despite Weaker Housing Market Activity

The U.S. economy accelerated in the second quarter of 2018, with real GDP growth at 4.1 percent, which was the strongest quarterly growth rate since the third quarter of 2014. More

from
http://www.freddiemac.com/research/outlook/20180827_strong_economic_growth.html?attr=rssEHR

2 Big Problems For Housing; Consumers Want Online Mortgage Options; Vegas Dethrones Seattle Home Prices

Freddie Mac analysts see a two-pronged threat to housing sales for the remainder of the year, especially in the previously high-flying western part of the country. The company's economic outlook for August notes that the ongoing lack of housing supply and the not unrelated affordability issues will probably keep a lid on the growth of home sales going forward. "The housing market hit some speed bumps this summer, with many prospective homebuyers slowed by not enough moderately-priced homes for sale and higher home prices and mortgage rates," said Freddie Mac Chief Economist Sam Khater. "These challenges were predominantly seen in expensive markets out West, where demand and sales are beginning to dampen because of weakening affordability." The cooling of the housing market was manifested in

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/28/3520

Mortgage Rates Higher (or Lower) Depending on Lender; Wells Layoffs; Last Week of Bond Market Summer

Mortgage rates moved higher for some lenders and lower for others, depending on how that particular lender adjusted their rate sheets on Friday afternoon. While the bonds that underlie mortgage rates are moving constantly throughout the day, lenders want to see a certain amount of movement in any given direction before they go to the trouble of adjusting their mortgage rate offerings. Friday began with weaker bonds. Consequently the first mortgage rate sheets of the day were worse than Thursday's (i.e. rates were higher). But bonds improved throughout the day--just enough for a handful of lenders to adjust rates lower. Lenders in that "handful" had to move rates back up a bit today. Lenders not in that handful were able to drop rates just a hair from Friday morning's levels. All this having

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/27/3518

J-Hole Helps Rates Hold Ground; Disaster Updates From Fannie/Freddie

Mortgage rates began the day slightly higher . In fact, for several lenders, it was the biggest day-over-day move higher in more than 2 weeks. The key word here is "was." Things quickly changed in the mid-morning hours after Fed Chair Jerome Powell delivered his opening address at the Jackson Hole Symposium. To make a long story short, Powell's comments erred on the side of being rate-friendly . It's not that he said the Fed would stop hiking rates or stop winding down its bond buying, but he did saw that the justifications for rate hikes and the bond-buying wind-down weren't especially troubling or urgent at the moment. Markets were left with the impression that the Fed was a bit more willing to consider leveling-off its trajectory of tightening. "Tightening" is usually another word for "higher

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/24/3514

Hurricane Effect; New Sales Soften; Prices Finally Turning?

Home prices for purchases financed by Fannie Mae and Freddie Mac appreciated at an 0.2 percent rate during June, and the estimate for May was increased from the 0.2 percent originally reported to 0.4 percent. It also appears that April's gain, which was revised last month from 0.1 percent to 0.2 percent has been revised again, up another 0.1 point. The Federal Housing Finance Agency, regulator and conservator for the GSEs, reported that home prices rose 6.5 percent compared to their Housing Price Index (HPI) for June 2017. Prices were up month-over-month in seven of the nine census regions , ranging from 0.1 percent in the West South Central division to 0.7 percent in the Mountain division. Those two states also posted the smallest and the largest year-over-year changes, 5.0 and 9.5 percent

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/23/3512

Fannie and Freddie End Funding of Single-Family Rentals; Price Gains Dampening Demand

The Federal Housing Finance Agency (FHFA) has pulled the plug on pilot programs run by both Fannie Mae and Freddie Mac (the GSEs) to finance institutional investment in single-family home rentals. The programs began in February 2017 with a $1 billion loan from Fannie Mae to the Blackstone Group. The loan was originated by Wells Fargo with a Fannie Mae guarantee and secured by some of the 48,000 single-family homes Blackstone's Invitation Homes subsidiary had purchased during the recession, often from portfolios of lender-owned real estate, and turned into rentals. At the time, the Urban Institute wrote that the transaction "marks the first time a government-sponsored enterprise has facilitated financing for a large institutional operator of single-family rental properties," and Fannie Mae pronounced

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/22/3510

2 Big Problems For Housing; Consumers Want Online Mortgage Options; Vegas Dethrones Seattle Home Prices

Freddie Mac analysts see a two-pronged threat to housing sales for the remainder of the year, especially in the previously high-flying western part of the country. The company's economic outlook for August notes that the ongoing lack of housing supply and the not unrelated affordability issues will probably keep a lid on the growth of home sales going forward. "The housing market hit some speed bumps this summer, with many prospective homebuyers slowed by not enough moderately-priced homes for sale and higher home prices and mortgage rates," said Freddie Mac Chief Economist Sam Khater. "These challenges were predominantly seen in expensive markets out West, where demand and sales are beginning to dampen because of weakening affordability." The cooling of the housing market was manifested in

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/28/3520

Strong Economic Growth Despite Weaker Housing Market Activity

The U.S. economy accelerated in the second quarter of 2018, with real GDP growth at 4.1 percent, which was the strongest quarterly growth rate since the third quarter of 2014. More

from
http://www.freddiemac.com/research/outlook/20180827_strong_economic_growth.html?attr=rssEHR

U.S. Will Become a Buyers Market in 2020, According to Experts

Despite slowing home-value appreciation in some of the nation's hottest markets, an expert panel does not expect market conditions to shift decidedly in favor of buyers until 2020 or later

from
http://zillow.mediaroom.com/2018-08-28-U-S-Will-Become-a-Buyers-Market-in-2020-According-to-Experts

Thunderbird owner planning price-conscious bar, restaurant by UIndy campus

Joshua Gonzales, who is a partner in the new venture, expects Jailbird to feel approachable with neighborhood-friendly pub food and easily affordable drink options.

from
https://www.ibj.com/blogs/19-property-lines/post/70220-thunderbird-owner-planning-bar-restaurant-by-uindy-campus

Thunderbird owner planning price-conscious bar, restaurant by UIndy campus

Joshua Gonzales, who is a partner in the new venture, expects Jailbird to feel approachable with neighborhood-friendly pub food and easily affordable drink options.

from
https://www.ibj.com/blogs/19-property-lines/post/70220-thunderbird-owner-planning-bar-restaurant-by-uindy-campus

Mortgage Rates Higher (or Lower) Depending on Lender; Wells Layoffs; Last Week of Bond Market Summer

Mortgage rates moved higher for some lenders and lower for others, depending on how that particular lender adjusted their rate sheets on Friday afternoon. While the bonds that underlie mortgage rates are moving constantly throughout the day, lenders want to see a certain amount of movement in any given direction before they go to the trouble of adjusting their mortgage rate offerings. Friday began with weaker bonds. Consequently the first mortgage rate sheets of the day were worse than Thursday's (i.e. rates were higher). But bonds improved throughout the day--just enough for a handful of lenders to adjust rates lower. Lenders in that "handful" had to move rates back up a bit today. Lenders not in that handful were able to drop rates just a hair from Friday morning's levels. All this having

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/27/3518

Thunderbird owner planning price-conscious bar, restaurant by UIndy campus

Joshua Gonzales, who is a partner in the new venture, expects Jailbird to feel approachable with neighborhood-friendly pub food and easily affordable drink options.

from
https://www.ibj.com/blogs/19-property-lines/post/70220-thunderbird-owner-planning-bar-restaurant-by-uindy-campus

Thunderbird owner planning price-conscious bar, restaurant by UIndy campus

Joshua Gonzales, who is a partner in the new venture, expects Jailbird to feel approachable with neighborhood-friendly pub food and easily affordable drink options.

from
https://www.ibj.com/blogs/19-property-lines/post/70220-thunderbird-owner-planning-bar-restaurant-by-uindy-campus

Strong Economic Growth Despite Weaker Housing Market Activity

The U.S. economy accelerated in the second quarter of 2018, with real GDP growth at 4.1 percent, which was the strongest quarterly growth rate since the third quarter of 2014. More

from
http://www.freddiemac.com/research/outlook/20180827_strong_economic_growth.html?attr=rssEHR

J-Hole Helps Rates Hold Ground; Disaster Updates From Fannie/Freddie

Mortgage rates began the day slightly higher . In fact, for several lenders, it was the biggest day-over-day move higher in more than 2 weeks. The key word here is "was." Things quickly changed in the mid-morning hours after Fed Chair Jerome Powell delivered his opening address at the Jackson Hole Symposium. To make a long story short, Powell's comments erred on the side of being rate-friendly . It's not that he said the Fed would stop hiking rates or stop winding down its bond buying, but he did saw that the justifications for rate hikes and the bond-buying wind-down weren't especially troubling or urgent at the moment. Markets were left with the impression that the Fed was a bit more willing to consider leveling-off its trajectory of tightening. "Tightening" is usually another word for "higher

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/24/3514

Hurricane Effect; New Sales Soften; Prices Finally Turning?

Home prices for purchases financed by Fannie Mae and Freddie Mac appreciated at an 0.2 percent rate during June, and the estimate for May was increased from the 0.2 percent originally reported to 0.4 percent. It also appears that April's gain, which was revised last month from 0.1 percent to 0.2 percent has been revised again, up another 0.1 point. The Federal Housing Finance Agency, regulator and conservator for the GSEs, reported that home prices rose 6.5 percent compared to their Housing Price Index (HPI) for June 2017. Prices were up month-over-month in seven of the nine census regions , ranging from 0.1 percent in the West South Central division to 0.7 percent in the Mountain division. Those two states also posted the smallest and the largest year-over-year changes, 5.0 and 9.5 percent

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/23/3512

Fannie and Freddie End Funding of Single-Family Rentals; Price Gains Dampening Demand

The Federal Housing Finance Agency (FHFA) has pulled the plug on pilot programs run by both Fannie Mae and Freddie Mac (the GSEs) to finance institutional investment in single-family home rentals. The programs began in February 2017 with a $1 billion loan from Fannie Mae to the Blackstone Group. The loan was originated by Wells Fargo with a Fannie Mae guarantee and secured by some of the 48,000 single-family homes Blackstone's Invitation Homes subsidiary had purchased during the recession, often from portfolios of lender-owned real estate, and turned into rentals. At the time, the Urban Institute wrote that the transaction "marks the first time a government-sponsored enterprise has facilitated financing for a large institutional operator of single-family rental properties," and Fannie Mae pronounced

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/22/3510

Great Recession Still Taking Toll; Rates Resisting a Move Lower

Irving Berlin once wrote, "The song might be over, but the melody lingers on." That, according to a paper from the Federal Reserve Bank of San Francisco (San Francisco Fed), sort of describes the Great Recession. A decade after the financial crisis and recession the U.S. economy remains significantly smaller that it would be had its pre-growth trends continued. Three Fed researchers, Regis Barnichon, Christian Matthes, and Alexander Ziegenbein, say this diminished level of output could result in a lifetime present-value income loss of about $70,000 for every American. Not only is the U.S. GDP, adjusted for inflation, well below the level it seemed inclined to achieve based on its growth before the recession, but so are the economies of the United Kingdom and other European counties . This diversion

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/20/3506

Staged to Sell: A Fixer Upper to Show Stopper

Home stager: Justin M. Riordan, founder of Spade and Archer Design Agency, with offices in Portland, Ore., and Seattle

The home: This Portland, Ore., home was a “complete and total fixer,” Riordan says. But it wasn’t anything that some savvy staging couldn’t fix. The 3,180-square-foot home was built in 1906 and features five bedrooms, 3.5 baths. It’s listed for $875,000.

Riordan’s Staging Tips: 

Photo Credit: Justin Riordan, Spade and Archer Design Agency

1. When staging a home, stick with neutral rugs with little to no pattern. This will keep the the rugs from distracting from the house itself.

Photo Credit: Justin Riordan, Spade and Archer Design Agency

2. Mix styles because not everybody loves modern or Victorian or vintage. By having an eclectic mix of styles in each room, the staging can appeal a little bit to each person.

Photo Credit: Justin Riordan, Spade and Archer Design Agency

3. Use color blocking. By assigning a single color to each room, buyers will have a way to discuss each room. This house has a green bedroom, a pink bedroom, a grey bedroom, and a brown bedroom. When the buyer say, “I think Sally should have the pink bedroom,” the other buyer will understand immediately which room they were talking about.

 

Have a home you recently staged that you’d like to show off here at Styled Staged & Sold? Submit your staging photos for consideration, along with three to five of your best spruce-up tips. Contact Melissa Dittmann Tracey at mtracey@realtors.org.

from
http://styledstagedsold.blogs.realtor.org/2018/08/27/staged-to-sell-a-fixer-upper-to-show-stopper/

Home-Value Growth Slowing in Nation's Hottest Housing Markets

Seattle was leading the nation in home-value growth a year ago, but is now the 12th fastest-appreciating housing market and reported the greatest slowdown over the past year

from
http://zillow.mediaroom.com/2018-08-23-Home-Value-Growth-Slowing-in-Nations-Hottest-Housing-Markets

Homeowners Can Pay Nearly $9,500 per Year in Hidden Costs

Property taxes, homeowners insurance and common maintenance projects can add up to a surprising annual cost

from
http://zillow.mediaroom.com/2018-08-21-Homeowners-Can-Pay-Nearly-9-500-per-Year-in-Hidden-Costs

Staged to Sell: A Fixer Upper to Show Stopper

Home stager: Justin M. Riordan, founder of Spade and Archer Design Agency, with offices in Portland, Ore., and Seattle

The home: This Portland, Ore., home was a “complete and total fixer,” Riordan says. But it wasn’t anything that some savvy staging couldn’t fix. The 3,180-square-foot home was built in 1906 and features five bedrooms, 3.5 baths. It’s listed for $875,000.

Riordan’s Staging Tips: 

Photo Credit: Justin Riordan, Spade and Archer Design Agency

1. When staging a home, stick with neutral rugs with little to no pattern. This will keep the the rugs from distracting from the house itself.

Photo Credit: Justin Riordan, Spade and Archer Design Agency

2. Mix styles because not everybody loves modern or Victorian or vintage. By having an eclectic mix of styles in each room, the staging can appeal a little bit to each person.

Photo Credit: Justin Riordan, Spade and Archer Design Agency

3. Use color blocking. By assigning a single color to each room, buyers will have a way to discuss each room. This house has a green bedroom, a pink bedroom, a grey bedroom, and a brown bedroom. When the buyer say, “I think Sally should have the pink bedroom,” the other buyer will understand immediately which room they were talking about.

 

Have a home you recently staged that you’d like to show off here at Styled Staged & Sold? Submit your staging photos for consideration, along with three to five of your best spruce-up tips. Contact Melissa Dittmann Tracey at mtracey@realtors.org.

from
http://styledstagedsold.blogs.realtor.org/2018/08/27/staged-to-sell-a-fixer-upper-to-show-stopper/

The $1000 Show - Show 498

Real Estate Today Radio - SHOW 498

On this week's Real Estate Today, it's our special show "The $1000 Show."

This Week's Show Includes:
- Top News Of The Week
- The Homestead Exemption
- Save More By Partnering Up
- Smart Home Technology
- Get REALTOR(R)

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

from
http://retradio.com

Thunderbird owner planning price-conscious bar, restaurant by UIndy campus

Joshua Gonzales, who is a partner in the new venture, expects Jailbird to feel approachable with neighborhood-friendly pub food and easily affordable drink options.

from
https://www.ibj.com/blogs/19-property-lines/post/70220-thunderbird-owner-planning-bar-restaurant-by-uindy-campus

Home-Value Growth Slowing in Nation's Hottest Housing Markets

Seattle was leading the nation in home-value growth a year ago, but is now the 12th fastest-appreciating housing market and reported the greatest slowdown over the past year

from
http://zillow.mediaroom.com/2018-08-23-Home-Value-Growth-Slowing-in-Nations-Hottest-Housing-Markets

Homeowners Can Pay Nearly $9,500 per Year in Hidden Costs

Property taxes, homeowners insurance and common maintenance projects can add up to a surprising annual cost

from
http://zillow.mediaroom.com/2018-08-21-Homeowners-Can-Pay-Nearly-9-500-per-Year-in-Hidden-Costs

First-Time Home Buyers Can Save a Down Payment the Fastest in Chicago and Dallas

It takes an average of three years to save a 20 percent down payment on a starter home in Chicago, but more than 13 years in Portland, Ore., according to an analysis from RealEstate.com

from
http://zillow.mediaroom.com/2018-08-20-First-Time-Home-Buyers-Can-Save-a-Down-Payment-the-Fastest-in-Chicago-and-Dallas

Virtual Staging Transforms Cold, Vacant Spaces Into Warm, Welcoming Homes

Photo credit: VHT Studios

By Brian Balduf, VHT Studios

Technology and the convenience it offers to buyers and sellers has changed real estate forever. The days of starting a home search inside the office or car of a real estate professional and touring five or six houses are long gone. Now, interested buyers expect to “shop” for their new home whenever they want on whichever device they desire and they often spend hours clicking through listings online before ever scheduling a visit. As a result, savvy real estate professionals are using many new tools to help their listings gain an advantage and sell faster.

One of the hottest tools deployed by real estate professionals is virtual staging, especially when used to market vacant condominium units.
Let’s face it, an empty condo unit, whether it’s a studio or penthouse, can lack the “curb appeal” that motivates buyers to take the time to make a visit. Empty rooms appear as boxy walls of white (or even worse, depending on the previous owners’/tenants’ tastes and color palette).

If many condos are for-sale in the same building, those big boxes with beige carpet and white walls appear disappointingly similar and fail to present their possibilities as a home. Virtual staging can help a vacant condo stand out from the rest and inject a new look into the listing photography, which brings that condo to life.

BEFORE

AFTER
Photo credit: VHT Studios (virtually staged)

Not to worry – you don’t have to put on silly helmets or special goggles to do it.

Virtual staging in real estate refers to the virtual photographic tools available to real estate professionals, in partnership with their professional photographer, to showcase a home and its potential. Virtual staging is the most common tool in the virtual real estate drawer and is playing a major role in the marketplace by appealing to prospective buyers or tenants.

Through virtual staging, a professional photographer captures photographs of vacant or lived-in homes and virtually changes a condo’s décor and furniture to make a great first impression to buyers or renters searching for their next home.

BEFORE

AFTER
Photo credit: VHT Studios (virtually staged)

In many cases, you really don’t want to show a house as it is decorated by the current owner/tenant, since buyers may not be interested in seeing the current owner’s stuff. Sellers should be reminded that their listing needs to help the next homeowner envision their own unique future lifestyle in that condo or apartment.

Take a fresh look at those empty rooms where the next owner will spend most of his/her time. Ask how you can appeal to that future owner/tenant by presenting the different possibilities of styling and furnishing various rooms. Various virtual staging tools such as virtual redecorate, virtual furnish, virtual repaint, and virtual declutter provide endless ways to showcase homes.

BEFORE

AFTER
Photo credit: VHT Studios (virtually staged)

These virtual tools give owners the chance to showcase the multiple functions of a spare bedroom by using virtual redecorate as an inexpensive virtual makeover to convert it to an office, arts and crafts room or nursery.

BEFORE

AFTER
Photo credit: VHT Studios (virtually staged)

Want to appeal to a fitness fanatic? You can virtually redecorate a second bedroom as a workout space. Virtual redecorating strips all furnishings from a photograph and drops in new furniture, wall color and décor to help you attract the next homeowner by showcasing the potential of the room in different styles or even different functions.
No two homeowners have the same taste, so appeal to the broadest audience possible by offering many different styles of the same living room, such as rustic, modern, shabby chic, traditional and beyond.

Sometimes, the virtual tools solve real estate professionals’ biggest headaches.

Did the current owner move out quickly, taking all her furniture and leaving behind a unit that appears cold and unwelcoming? Virtual staging can fill a vacant room with furnishings without the expense or inconvenience of having to rent or move in tables, chairs, couches or beds. The savings in time and budget are significant when compared to traditional staging costs.

Did the seller forget to clear the clutter before a photo-shoot? Virtual declutter can magically eliminate all of the current owner’s/tenant’s personal effects and knick-knacks from surfaces to present a clean, wide-open look.

BEFORE

AFTER Photo Credit: VHT Studios (virtually staged)

BEFORE

AFTER
Photo credit: VHT Studios (virtually staged)

Or does the dark red wall make the living room appear smaller? It can be virtually repainted a calming gray or white, making the room look more spacious and inviting.

During showings, to remind buyers of the virtually staged photographs they first saw online, real estate professionals can place the virtually staged photographs on an easel, or offer as a handout so buyers can actually see the potential of a room, rather than imagine it on their own.

Another tool that is rising in popularity is interactive floorplans. Some people just can’t look at a floorplan and “see” the flow of a condo. Interactive floorplans include photos from each room, to effectively help a buyer visualize how she’d live in her new home, or how he’d quickly move from his exercise room to the shower and make it to work on time.

Young singles and married couples now make-up the largest population of buyers and are accustomed to being wowed by the content they read and watch. Their expectations are no less when it comes to being dazzled by the potential of the next property they’re thinking of buying. Smart real estate pros will sell listings faster and grow their businesses stronger, by appealing to the needs and expectations of this young market and by helping them envision the full realm of possibilities.

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/Kiw9vRFdr0U/

J-Hole Helps Rates Hold Ground; Disaster Updates From Fannie/Freddie

Mortgage rates began the day slightly higher . In fact, for several lenders, it was the biggest day-over-day move higher in more than 2 weeks. The key word here is "was." Things quickly changed in the mid-morning hours after Fed Chair Jerome Powell delivered his opening address at the Jackson Hole Symposium. To make a long story short, Powell's comments erred on the side of being rate-friendly . It's not that he said the Fed would stop hiking rates or stop winding down its bond buying, but he did saw that the justifications for rate hikes and the bond-buying wind-down weren't especially troubling or urgent at the moment. Markets were left with the impression that the Fed was a bit more willing to consider leveling-off its trajectory of tightening. "Tightening" is usually another word for "higher

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/24/3514

Thunderbird owner planning price-conscious bar, restaurant by UIndy campus

Joshua Gonzales, who is a partner in the new venture, expects Jailbird to feel approachable with neighborhood-friendly pub food and easily affordable drink options.

from
https://www.ibj.com/blogs/19-property-lines/post/70220-thunderbird-owner-planning-bar-restaurant-by-uindy-campus

Thunderbird owner planning price-conscious bar, restaurant by UIndy campus

Joshua Gonzales, who is a partner in the new venture, expects Jailbird to feel approachable with neighborhood-friendly pub food and easily affordable drink options.

from
https://www.ibj.com/blogs/19-property-lines/post/70220-thunderbird-owner-planning-bar-restaurant-by-uindy-campus

Thunderbird owner planning price-conscious bar, restaurant by UIndy campus

Joshua Gonzales, who is a partner in the new venture, expects Jailbird to feel approachable with neighborhood-friendly pub food and easily affordable drink options.

from
https://www.ibj.com/blogs/19-property-lines/post/70220-thunderbird-owner-planning-bar-restaurant-by-uindy-campus

Hurricane Effect; New Sales Soften; Prices Finally Turning?

Home prices for purchases financed by Fannie Mae and Freddie Mac appreciated at an 0.2 percent rate during June, and the estimate for May was increased from the 0.2 percent originally reported to 0.4 percent. It also appears that April's gain, which was revised last month from 0.1 percent to 0.2 percent has been revised again, up another 0.1 point. The Federal Housing Finance Agency, regulator and conservator for the GSEs, reported that home prices rose 6.5 percent compared to their Housing Price Index (HPI) for June 2017. Prices were up month-over-month in seven of the nine census regions , ranging from 0.1 percent in the West South Central division to 0.7 percent in the Mountain division. Those two states also posted the smallest and the largest year-over-year changes, 5.0 and 9.5 percent

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/23/3512

Thunderbird owner planning price-conscious bar, restaurant by UIndy campus

Joshua Gonzales, who is a partner in the new venture, expects Jailbird to feel approachable with neighborhood-friendly pub food and easily affordable drink options.

from
https://www.ibj.com/blogs/19-property-lines/post/70220-thunderbird-owner-planning-bar-restaurant-by-uindy-campus

Multifamily 2018 Mid-Year Outlook

Performance in the multifamily market remained healthy in the first half of 2018, and is expected to continue throughout the second half of 2018 and into 2019, but with continued moderation from the prior few years. More

from
http://www.freddiemac.com/research/outlook/20180817_multifamily_midyear_2018_outlook.html?attr=rssEHR

Home-Value Growth Slowing in Nation's Hottest Housing Markets

Seattle was leading the nation in home-value growth a year ago, but is now the 12th fastest-appreciating housing market and reported the greatest slowdown over the past year

from
http://zillow.mediaroom.com/2018-08-23-Home-Value-Growth-Slowing-in-Nations-Hottest-Housing-Markets

Fannie and Freddie End Funding of Single-Family Rentals; Price Gains Dampening Demand

The Federal Housing Finance Agency (FHFA) has pulled the plug on pilot programs run by both Fannie Mae and Freddie Mac (the GSEs) to finance institutional investment in single-family home rentals. The programs began in February 2017 with a $1 billion loan from Fannie Mae to the Blackstone Group. The loan was originated by Wells Fargo with a Fannie Mae guarantee and secured by some of the 48,000 single-family homes Blackstone's Invitation Homes subsidiary had purchased during the recession, often from portfolios of lender-owned real estate, and turned into rentals. At the time, the Urban Institute wrote that the transaction "marks the first time a government-sponsored enterprise has facilitated financing for a large institutional operator of single-family rental properties," and Fannie Mae pronounced

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/22/3510

Multifamily 2018 Mid-Year Outlook

Performance in the multifamily market remained healthy in the first half of 2018, and is expected to continue throughout the second half of 2018 and into 2019, but with continued moderation from the prior few years. More

from
http://www.freddiemac.com/research/outlook/20180817_multifamily_midyear_2018_outlook.html?attr=rssEHR

Homeowners Can Pay Nearly $9,500 per Year in Hidden Costs

Property taxes, homeowners insurance and common maintenance projects can add up to a surprising annual cost

from
http://zillow.mediaroom.com/2018-08-21-Homeowners-Can-Pay-Nearly-9-500-per-Year-in-Hidden-Costs

Great Recession Still Taking Toll; Rates Resisting a Move Lower

Irving Berlin once wrote, "The song might be over, but the melody lingers on." That, according to a paper from the Federal Reserve Bank of San Francisco (San Francisco Fed), sort of describes the Great Recession. A decade after the financial crisis and recession the U.S. economy remains significantly smaller that it would be had its pre-growth trends continued. Three Fed researchers, Regis Barnichon, Christian Matthes, and Alexander Ziegenbein, say this diminished level of output could result in a lifetime present-value income loss of about $70,000 for every American. Not only is the U.S. GDP, adjusted for inflation, well below the level it seemed inclined to achieve based on its growth before the recession, but so are the economies of the United Kingdom and other European counties . This diversion

from
http://www.mortgagenewsdaily.com/reports/newsletter/2018/8/20/3506

First-Time Home Buyers Can Save a Down Payment the Fastest in Chicago and Dallas

It takes an average of three years to save a 20 percent down payment on a starter home in Chicago, but more than 13 years in Portland, Ore., according to an analysis from RealEstate.com

from
http://zillow.mediaroom.com/2018-08-20-First-Time-Home-Buyers-Can-Save-a-Down-Payment-the-Fastest-in-Chicago-and-Dallas

Store Space self-storage about to enter market with two facilities

The Las Vegas-based firm could open up to eight more in the Indianapolis area. Also, the latest on Tandoori Flame, Bad Axe Throwing and Abuelo's.

from
https://www.ibj.com/blogs/19-property-lines/post/70120-long-vacant-kmart-store-to-see-new-life-as-store-space-self-storage-facility

National Housing Market Experiencing More Price Cuts

There are more price cuts now than a year ago in over two-thirds of the nation's largest metros, with West Coast markets reporting the greatest increase

from
http://zillow.mediaroom.com/2018-08-16-National-Housing-Market-Experiencing-More-Price-Cuts

More than Six Million Homes Missing From U.S. Housing Market

It would take five years at the current building pace to add these homes

from
http://zillow.mediaroom.com/2018-08-14-More-than-Six-Million-Homes-Missing-From-U-S-Housing-Market

First-Time Home Buyers Can Save a Down Payment the Fastest in Chicago and Dallas

It takes an average of three years to save a 20 percent down payment on a starter home in Chicago, but more than 13 years in Portland, Ore., according to an analysis from RealEstate.com

from
http://zillow.mediaroom.com/2018-08-20-First-Time-Home-Buyers-Can-Save-a-Down-Payment-the-Fastest-in-Chicago-and-Dallas

Virtual Staging Transforms Cold, Vacant Spaces Into Warm, Welcoming Homes

Photo credit: VHT Studios

By Brian Balduf, VHT Studios

Technology and the convenience it offers to buyers and sellers has changed real estate forever. The days of starting a home search inside the office or car of a real estate professional and touring five or six houses are long gone. Now, interested buyers expect to “shop” for their new home whenever they want on whichever device they desire and they often spend hours clicking through listings online before ever scheduling a visit. As a result, savvy real estate professionals are using many new tools to help their listings gain an advantage and sell faster.

One of the hottest tools deployed by real estate professionals is virtual staging, especially when used to market vacant condominium units.
Let’s face it, an empty condo unit, whether it’s a studio or penthouse, can lack the “curb appeal” that motivates buyers to take the time to make a visit. Empty rooms appear as boxy walls of white (or even worse, depending on the previous owners’/tenants’ tastes and color palette).

If many condos are for-sale in the same building, those big boxes with beige carpet and white walls appear disappointingly similar and fail to present their possibilities as a home. Virtual staging can help a vacant condo stand out from the rest and inject a new look into the listing photography, which brings that condo to life.

BEFORE

AFTER
Photo credit: VHT Studios (virtually staged)

Not to worry – you don’t have to put on silly helmets or special goggles to do it.

Virtual staging in real estate refers to the virtual photographic tools available to real estate professionals, in partnership with their professional photographer, to showcase a home and its potential. Virtual staging is the most common tool in the virtual real estate drawer and is playing a major role in the marketplace by appealing to prospective buyers or tenants.

Through virtual staging, a professional photographer captures photographs of vacant or lived-in homes and virtually changes a condo’s décor and furniture to make a great first impression to buyers or renters searching for their next home.

BEFORE

AFTER
Photo credit: VHT Studios (virtually staged)

In many cases, you really don’t want to show a house as it is decorated by the current owner/tenant, since buyers may not be interested in seeing the current owner’s stuff. Sellers should be reminded that their listing needs to help the next homeowner envision their own unique future lifestyle in that condo or apartment.

Take a fresh look at those empty rooms where the next owner will spend most of his/her time. Ask how you can appeal to that future owner/tenant by presenting the different possibilities of styling and furnishing various rooms. Various virtual staging tools such as virtual redecorate, virtual furnish, virtual repaint, and virtual declutter provide endless ways to showcase homes.

BEFORE

AFTER
Photo credit: VHT Studios (virtually staged)

These virtual tools give owners the chance to showcase the multiple functions of a spare bedroom by using virtual redecorate as an inexpensive virtual makeover to convert it to an office, arts and crafts room or nursery.

BEFORE

AFTER
Photo credit: VHT Studios (virtually staged)

Want to appeal to a fitness fanatic? You can virtually redecorate a second bedroom as a workout space. Virtual redecorating strips all furnishings from a photograph and drops in new furniture, wall color and décor to help you attract the next homeowner by showcasing the potential of the room in different styles or even different functions.
No two homeowners have the same taste, so appeal to the broadest audience possible by offering many different styles of the same living room, such as rustic, modern, shabby chic, traditional and beyond.

Sometimes, the virtual tools solve real estate professionals’ biggest headaches.

Did the current owner move out quickly, taking all her furniture and leaving behind a unit that appears cold and unwelcoming? Virtual staging can fill a vacant room with furnishings without the expense or inconvenience of having to rent or move in tables, chairs, couches or beds. The savings in time and budget are significant when compared to traditional staging costs.

Did the seller forget to clear the clutter before a photo-shoot? Virtual declutter can magically eliminate all of the current owner’s/tenant’s personal effects and knick-knacks from surfaces to present a clean, wide-open look.

AFTER Photo Credit: VHT Studios (virtually staged)

BEFORE

AFTER
Photo credit: VHT Studios (virtually staged)

Or does the dark red wall make the living room appear smaller? It can be virtually repainted a calming gray or white, making the room look more spacious and inviting.

During showings, to remind buyers of the virtually staged photographs they first saw online, real estate professionals can place the virtually staged photographs on an easel, or offer as a handout so buyers can actually see the potential of a room, rather than imagine it on their own.

Another tool that is rising in popularity is interactive floorplans. Some people just can’t look at a floorplan and “see” the flow of a condo. Interactive floorplans include photos from each room, to effectively help a buyer visualize how she’d live in her new home, or how he’d quickly move from his exercise room to the shower and make it to work on time.

Young singles and married couples now make-up the largest population of buyers and are accustomed to being wowed by the content they read and watch. Their expectations are no less when it comes to being dazzled by the potential of the next property they’re thinking of buying. Smart real estate pros will sell listings faster and grow their businesses stronger, by appealing to the needs and expectations of this young market and by helping them envision the full realm of possibilities.

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/2018/08/20/see-how-virtual-staging-transforms-a-cold-vacant-condo-into-a-warm-welcoming-home/

Watch for Asbestos When Renovating Older Homes: You May Be at Risk

Photo credit: BanksPhotos -iStock / Getty Images Plus

By Rosie Rosati, guest contributor

As a homebuyer, it’s easy to understand the appeal of investing in an older home. After all, it’s the perfect opportunity to tackle a few DIY projects and renovations to give the place the custom touch you’ve always imagined. Although this can seem like an exciting endeavor, new owners may get ahead themselves without realizing their house may be harboring toxins from decades ago.

It’s important to understand the dangers of asbestos during home improvement projects and how to reduce exposure risks.

Measuring Your Risk

Asbestos is a natural silicate mineral that was revolutionary for the building trade until its carcinogenic nature was discovered. This toxin was once widely-used by the construction industry due to its resilience and ability to withstand chemicals and high temperatures. Although its health risks were discovered as early as the 1920s, the United States continued producing, importing and manufacturing asbestos-containing consumer products for decades.

Researchers concluded in 1960 that asbestos exposure could cause a wide range of long-term diseases, including asbestosis, lung cancer, and the often fatal form of cancer known as mesothelioma. As more tradesmen came forward with asbestos-related illnesses, this mineral became known as a primary source of occupational cancer.

The mineral is heavily regulated today, but millions of people are still vulnerable to exposure due to its expansive use in residential homes and buildings.

Asbestos is only considered dangerous when contaminated materials have been worn down or damaged which unfortunately, is a standard part of most renovation or remodeling work.

Any sanding, grinding, sawing, drilling, buffing, or physical impact may cause these fibers to become airborne and easily ingested or inhaled by anyone in the general proximity.

What Homeowners Need to Know

Asbestos is nearly impossible to identify on your own because it’s often mixed within building products, but it is possible to identify a hazardous situation and take appropriate preventative action.

Before getting involved with any sort of home improvement project, you should always double-check that your property has been recently inspected by a trained professional. This simple step is especially important if you reside in a home built more than 40 years ago and has visible signs of aging. This bit of precaution could save you from developing an asbestos-related illness years later.

You should be aware of common products that have a history of containing the toxin and monitor their condition for any sort of wear and tear. Keep an eye on old insulation, ceiling tiles, vinyl flooring, joint compounds, door gaskets, furnaces, roof shingles, electrical wiring, fireproof products, and more.

Asbestos is known to be a significant threat when it is “friable,”  meaning it can be easily crumbled or crushed by hand. Spray-on insulation and spray-on ceiling textures are prime examples of products that once contained friable asbestos and have been found within residential homes today.

Unlike floor tiles and cement that must endure long-term deterioration before asbestos fibers are loosened, the slightest amount of pressure can instantly release these fibers, allowing them to be carried throughout the air and dust indoors.

Do not panic and try to remove any materials you think are toxic, as this will only do more harm than good.

Instead, block off the area and avoid any activity, including sweeping or vacuuming, which can exacerbate the situation and cause toxic dust and debris to travel even further throughout the house.

Restrict anyone from going near the area until a professional can take samples to confirm it contains asbestos. If the toxin is present and appears to be hazardous, the licensed professional can safely remove the toxin from your home.

ABOUT THE AUTHOR: Rosie Rosati is with the Mesothelioma and Asbestos Awareness Center. She is  a health advocate for anyone impacted by the aggressive form of cancer known as mesothelioma. She dedicates her time to educating the public on where asbestos is found today and how to prevent exposure. Her ultimate goal is to connect anyone affected by this rare diseases with the resources and support they deserve.

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

Multifamily 2018 Mid-Year Outlook

Performance in the multifamily market remained healthy in the first half of 2018, and is expected to continue throughout the second half of 2018 and into 2019, but with continued moderation from the prior few years. More

from
http://www.freddiemac.com/research/outlook/20180817_multifamily_midyear_2018_outlook.html?attr=rssEHR

Multifamily 2018 Mid-Year Outlook

Performance in the multifamily market remained healthy in the first half of 2018, and is expected to continue throughout the second half of 2018 and into 2019, but with continued moderation from the prior few years. More

from
http://www.freddiemac.com/research/outlook/20180817_multifamily_midyear_2018_outlook.html?attr=rssEHR