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Five reasons to buy a home now

We all want to be wise investors, but our brains get in the way. Behavioral scientists tell us we are hard-wired to assume the future will be like the past. These tendencies can cause us to miss bargains in real estate. Here are five reasons why buying a house now is a good investment:

1. It’s becoming more expensive to rent than to own.
Yes, renting is convenient, but living in a rental also comes with restrictions on what renters can do with their living space—a simple task like painting requires permission from the property owners. Low interest rates and reasonable home prices make owning look more favorable than renting, especially when rent costs are rising! Click here to read more. 

Interior Design Trends for 2012

If you’re looking to update your home, consider following the trends. In 2012, eco-friendly spaces, bold colors, and casual elegance will be the trends to watch.

Environmentally Friendly
Green living has gone beyond cloth tote bags and reusable water bottles and has now spread to the world of home construction. Eco18.com predicts that in 2012, green building will be more popular than ever. As consumers demand eco-friendly buildings, home developers will turn to LEED certifications to prove their homes are good for the planet. These LEED-certified homes will be more green than the standard, built with materials harvested from renewable resources and stocked with energy-efficient appliances. The Beasley and Henley Interior Design Blog sees the green trend continuing in the textile field. With the prices of eco-fabrics dropping, expect earth-friendly linens and cottons to turn up on pillows, furniture, and draperies. Click here to read more.

HAMP extended to offer foreclosure alternatives

President Obama recently spoke of the American dream of home ownership, and how that dream was shaken by the collapse of the housing and mortgage markets in 2008. In his State of the Union address to the nation, the president offered hope to homeowners trapped by falling home values and rising interest rates through a plan to cut red tape so homeowners can refinance to take advantage of currently low interest rates.

Not addressed by the president, but of equal importance to people whose homes are worth less than their mortgage debt, is the extension of the Homes Affordable Modification Program (HAMP). Launched by the federal government in 2009, HAMP was slated to expire on December 31, 2012, but was extended for one year to December 31, 2013. Click here to read more. 

Homebuilder confidence increases to highest level since 2007

The recent housing market news shows that construction spending is up, and lending should shortly follow—a good sign for potential home buyers.

According to the U.S. Census Bureau of the Department of Commerce, residential construction spending rose 0.8 percent above the revised November estimate, to a seasonally adjusted annual rate of $241.2 billion—4.3 percent above the December 2010 estimate. In an ideal market, an increase in residential construction spending will lead to an increase in new-home sales. More builders believe that an increase in sales isn’t far off; according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), builders of single-family homes have more confidence in their segment of the real estate market. The HMI climbed for the fourth consecutive month to a score of 25, the highest level seen since June 2007. Moreover, the rise in builder confidence was reported, to varying degrees, in every region of the country. Click here to read more.

Planning your new kitchen – renew or redo?

Upgrading the kitchen is on many homeowners’ “to do” list. And for good reason. A minor kitchen remodel ranks fourth on the list of the top 10 home improvement projects that deliver return on investment, according to Remodeling magazine’s 2010-11 Cost vs. Value Report.

But whether you’re in it for the investment, or just to freshen up the space in your home where people spend the most time, a new kitchen look could be a fun, impactful improvement to your house. Some may start with a weekend project and a $40 can of paint, while others will jump into a $50,000-plus remodel. Either way, one thing is for sure – you can’t go wrong with a beautiful, highly functional kitchen. Click here to read more. 

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