@CharleyWasson discusses some of the interesting stories he's seen regarding real estate. Including, how builder sentiment is unexpectedly UP, where's the best place for First Time Homebuyers, and what design trends are gaining traction and popularity. Questions? Leave them in the comments, and feel free to reach out to charley through his social channels posted above in the banner. (Laughy Hilger Group) 210-478-8555
We just saw unexpected surprise in builder sentiment in the single-family housing market. In January, the number rose for the first time in 12 months, even after economists had predicted a slight decline. Both builders and consumers are likely responding to the recent drop in mortgage rates.
“While NAHB is forecasting a decline for single-family starts this year compared to 2022, it appears a turning point for housing lies ahead,” said Robert Dietz, NAHB’s chief economist. “In the coming quarters, single-family home building will rise off of cycle lows as mortgage rates are expected to trend lower and boost housing affordability.”
This is great news and more reassurance that this year is starting in the right direction. Share this news with your clients. If builders are shifting, then that affects the whole market and we'll all see that momentum soon!
Realtor.com released its 2023 National Housing Forecast which ranks the Top 10 cities for first-time home buyers. The rankings were measured by affordability, job opportunities, the share of residents aged 25-34, amenities in each area, and forecasted home and price growth.
Here’s the Top 10 cities for first-time homebuyers:
1. Portsmouth, VA
2. DeForest, WI
3. Windsor Locks, CT
4. Gloucester City, NJ
5. Moore, OK
6. Magna, UT
7. Eggertsville, NY
8. Watervliet, NY
9. Mattydale, NY
10. Somersworth, NH
There’s a lot of pressure on first-time home buyers, so lists like this can really help a hesitant client. Focus on what they measured and why. We agree that buyers coming into the market this year will be younger, so understand what is important to them. Remember, you want to help your client make the right decision, even if the final decision is not to buy.
The remodeling boom continues. Here are some popular house projects that handyman professionals are increasingly being called upon to help.
January 16, 2023
Remodeling, Design Trends
A handyman can help with a range of home remodeling projects. Derek Christian, owner of the Handyman Connection in Blue Ash, Ohio, offers some of the trends he’s noticing with remodels:
1. Airbnb-friendly spaces
“We are seeing a big trend toward consumers, especially younger first-time home buyers, creating a second rentable space in their home,” Christian says. These projects may include creating a second lavish owner’s suite, sometimes with its own separate entrance. Also, homeowners are looking to add accessory dwelling units as another rental possibility or turn a basement into a rental apartment, Christian notes.
2. Composite decks
These have been growing in popularity for several years. “With the price of wood tripling during the pandemic, composite decks went from being more expensive to now less expensive than traditional wood decks,” Christian says. “The price of plywood has come down since the pandemic, but we have not had a single request for a new wood deck since 2020.”
3. Lighting upgrades
“There are so many choices of dramatic accent lights now, from pendants to Edison bulbs and LEDs,” Christian says. “These enable all kinds of unique shapes. Consumers are adding dramatic accent lights throughout their home.”
4. Free-standing soaker tubs
“We’re getting more requests to add these in to replace the built-in tubs,” Christian says. Often, he says, the free-standing soaker tub will have a chandelier above it to help create a more luxurious, spa-like bathroom.
5. Smart-home tech
“The smart home is not here all the way yet, but we are seeing many smaller changes taking hold on that front,” Christian says. “Nearly every remodel we do comes with the request for at least a few sockets with built-in USB charging ports.” Also, in the bathroom for fan/light replacements, consumers increasingly are selecting ones with built-in LED lights that change color as well as have Bluetooth-enabled speakers.
Other blogs you may enjoy include:
Other blogs you may enjoy include: