Consumer Confidence in Housing Hits All-Time High

Consumer Confidence in Housing Hits All-Time High

 

WASHINGTON, DC – The Fannie Mae Home Purchase Sentiment Index® (HPSI) increased by 5.6 percentage points in February to 88.3, a new all-time high. Five of the six components that comprise the HPSI were up, and three hit record highs. The net share of Americans who reported that now is a good time to buy rose 11 percentage points, while the net share who believe that now is a good time to sell rose 7 percentage points. Consumers also demonstrated greater confidence about not losing their jobs, with the net share rising 9 percentage points. On net, the share of respondents reporting that their household income is significantly higher than it was 12 months ago increased 4 percentage points. Additionally, more Americans expect home prices to go up, with the net share rising 3 percentage points. The net share of those who think mortgage rates will go down over the next 12 months remained unchanged for the third consecutive month.

“The latest post-election surge in optimism puts the HPSI at its highest level since its starting point in 2011. Millennials showed especially strong increases in job confidence and income gains, a necessary precursor for increased housing demand from first-time homebuyers,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Preliminary research results from our team find that millennials are accelerating the rate at which they move out of their parents’ homes and form new households. However, continued slow supply growth implies continued strong price appreciation and affordability constraints facing millennials and first-time buyers in many markets.”

HOME PURCHASE SENTIMENT INDEX – COMPONENT HIGHLIGHTS

Fannie Mae’s 2017 Home Purchase Sentiment Index (HPSI) increased in February by 5.6 percentage points to 88.3. The HPSI is also up 5.6 percentage points compared with the same time last year.

  • The net share of Americans who say it is a good time to buy a house rose 11 percentage points to 40%, rebounding strongly from last month’s survey low.
  • The net percentage of those who say it is a good time to sell increased by 7 percentage points to 22%, reaching a new survey high.
  • The net share of Americans who say that home prices will go up increased by 3 percentage points in February to 45%.
  • The net share of those who say mortgage rates will go down over the next twelve months remained constant for the third consecutive month at -55%.
  • The net share of Americans who say they are not concerned about losing their job rose 9 percentage points to a new survey high of 78%.
  • The net share of Americans who say their household income is significantly higher than it was 12 months ago rose 4 percentage points to 19% in February, continuing the increase from January and reaching a new survey high.

ABOUT FANNIE MAE’S HOME PURCHASE SENTIMENT INDEX

The Home Purchase Sentiment Index (HPSI) distills information about consumers’ home purchase sentiment from Fannie Mae’s National Housing Survey® (NHS) into a single number. The HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions and complements existing data sources to inform housing-related analysis and decision making. The HPSI is constructed from answers to six NHS questions that solicit consumers’ evaluations of housing market conditions and address topics that are related to their home purchase decisions. The questions ask consumers whether they think that it is a good or bad time to buy or to sell a house, what direction they expect home prices and mortgage interest rates to move, how concerned they are about losing their jobs, and whether their incomes are higher than they were a year earlier.

ABOUT FANNIE MAE’S NATIONAL HOUSING SURVEY

The most detailed consumer attitudinal survey of its kind, Fannie Mae’s National Housing Survey (NHS) polled 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts, six of which are used to construct the HPSI (findings are compared with the same survey conducted monthly beginning June 2010). As cell phones have become common and many households no longer have landline phones, the NHS contacts 60 percent of respondents via their cell phones (as of October 2014). For more information, please see the Technical Notes. Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future. The February 2017 National Housing Survey was conducted between February 1, 2017 and February 21, 2017. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by Penn Schoen Berland, in coordination with Fannie Mae.

DETAILED HPSI & NHS FINDINGS

For detailed findings from the February 2017 Home Purchase Sentiment Index and National Housing Survey, as well as a brief HPSI overview and detailed white paper, technical notes on the NHS methodology, and questions asked of respondents associated with each monthly indicator, please visit the Surveys page on fanniemae.com. Also available on the site are in-depth special topic studies, which provide a detailed assessment of combined data results from three monthly studies of NHS results.

 

I read this article at: http://www.fanniemae.com/portal/media/corporate-news/2017/february-home-purchase-sentiment-index-6527.html

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

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Twitterhttps://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

SPECIAL POST – Making an Offer: 5 Mistakes to Avoid

Making an Offer: 5 Mistakes to Avoid

I had to post this article the moment I read it. So timely – and allow me to add my Silicon Valley Realtor 2 cents in italics.  

In competitive housing markets across the country, making an offer that sticks has become increasingly difficult. Ensure your client doesn’t make the process even tougher by succumbing to one of these common mistakes.

The Caton Team works with Sellers and Buyers up and down the San Francisco Peninsula.  So we know – as a Seller’s Realtor  – what we want to see in an offer and supporting documents which only aids us when we represent Buyers.  

Delaying

“Time kills deals,” says Andrew Sandholm of BOND New York Properties in New York. “Dragging your feet means you could wind up paying more in a bidding war situation or missing out on the property altogether.” Buyers need to be ready with their paperwork, such as bank statements, a pre-approval letter, and documents supporting proof of funds, from the day they begin house-hunting mode. That way they can pounce quickly with an offer when they do find a home they like.

My goodness, this is the truth.  In fact, in order to ensure my Buyers a smoother experience, I no longer show homes until the Buyer has been pre-approved.  A Buyer MUST KNOW their own budget, how much they can afford, how much their lives cost BEFORE they start house hunting.  Once we find a home, we must focus on THAT HOME and the disclosures package.  When we sit down to write an offer, that is NOT the time to discuss budget.  That’s the time to discuss the home, condition, inspections, disclosures and how much it is worth to you.  To be frank – to be a successful Buyer in the Silicon Valley – a Buyer should have Under Writer Approval.  That is what it takes to be a strong and successful  Buyer in the Silicon Valley Real Estate Market.  Curious what that means – give The Caton Team a call.

Making an offer for their preapproved amount

Smart buyers are getting preapproved to show a seller they’re financially able to purchase a home. However, Chuck Silverston, principal at Unlimited Sotheby’s International Realty in Brookline, Mass., warns buyers against using that document to come up with an offer amount.

“Many buyers come in with a preapproval for the exact offer price, but when you’re competing against other offers, including cash offers, you want to show financial strength,” Silverston says. “An exact preapproval could make a listing agent nervous because not only does the buyer not have any wiggle room to negotiate, but they might no longer qualify if interest rates rise.”

There was a time in our Real Estate Market that we would customize each lender approval letter with the offer price.  It was a a way of not showing all your cards at once.  For instance, you are approved for $3 million but your letter and offer says $2 million.  Well when the Sellers Realtor lines up the offers and tries to determine financial strength – having no wiggle room in your lender letter will diminish your financial strength.  And sadly, though my lender calls on behalf of my Buyers to each offer we write – many lenders do not call.  I know this as my phone is radio silent on offer day – too bad more lenders don’t step up to the plate and offer wonderful customer service.  But that is a whole other blog!

Submitting a lowball offer

Lowballing a seller often backfires, particularly in a seller’s market. “A lowball offer that isn’t backed up with math or comparable sales data is disrespectful and could turn off the seller and possibly mean you will miss out on the property completely,” Sandholm says.

From time to time, as a Seller’s Realtor – we’ll get these mysterious faxed in offers.  (I joke, they are not faxed anymore) but you get my gist.  They are awful offers, terribly written, and low.  Too low.  Insultingly low.  As a Seller – don’t get offended.  As a professional Realtor – The Caton Team knows how to handle these delicate situations.

Waiving inspection contingencies

“I don’t care whether it’s new construction or even your mom’s house you’re buying from her – get it inspected,” urges Joshua Jarvis of Jarvis Team Realty in Duluth, Ga. Further, if you waive the inspection contingency in your offer, you may lose the earnest money if you later back out of the deal.

Well, if you are a Buyer in the Silicon Valley – and you’ve written more than one offer – you have learned the hard way that contingencies are deal killers in a sellers market.  If a Buyer is in a multiple offer situation – any contingency can and probably will throw you to the bottom of the stack.  HOWEVER, The Caton Team understands what a Seller wants in their offer and we understand what the Buyer needs.  The Caton Team has a great Buyer Strategy when these critical terms are at stake.  Come sit down with us and we’ll discuss our distinctive Buying in Silicon Valley strategy.  

Not presenting yourself well enough

In a seller’s market, buyers need to take steps to make sure they look good in the eyes of the seller. “In today’s highly competitive environment, the listing agent is trying to determine which buyer will be the easiest to deal with,” Silverston says. Buyers may want to avoid pointing out every defect, making nitpicky queries, or questioning the seller’s tastes.

“Basically buyers who act less than enthusiastic will see themselves at a competitive disadvantage when sellers are comparing multiple offers,” he says.

“The easiest to deal with”… Did you catch that phrase?  When the Caton Team works with Sellers and reviews offers – we are looking for the best offer, with the best terms that WILL CLOSE ESCROW!.  Taking a great – high offer – no contingencies blah blah blah – won’t matter a hill of beans if it does not close escrow.  

What sets The Caton Team apart from other Realtors is our level of hustle.  I don’t know another word for what I do when I represent a Buyer.  I hustle.  Ask my clients.  Read my YELP reviews.  I work hard.  Finding a home is no longer my principle job as a Realtor.  I know that sounds funny but with the internet and all the listings available online 24/7 – finding the home has become the Buyers Journey.  But GETTING THE HOME – is what I do best.  The Caton Team has exceptional  negotiating skills.  It starts with the first call to our fellow Realtor when we find the home, through the disclosure review, through the offer writing, through the offer presenting.  Yes, The Caton Team still presents their offers.  When possible we take the time to present the offer to the Sellers Agent, we ask questions before, during and after.  If you have ever worked with us – you will know and see the difference in our level of service.  Any agent can find a home, but The Caton Team will guide you on how to get the home YOU WANT! 

What does that mean?  Well you know – come sit down with The Caton Team and we’ll chat about it.  

How can The Caton Team help you?

Thank you for read,

Sabrina

I read this article at: http://realtormag.realtor.org/daily-news/2017/05/10/making-offer-5-mistakes-avoid?om_rid=AACmlZ&om_mid=_BZE0AQB9bqaWV2&om_ntype=RMODaily

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at:  Info@TheCatonTeam.com

Call us at: 650-568-5522  Office: 650-365-9200

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnaphttp://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page:  http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me:  http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitterhttps://twitter.com/TheCatonTeam

Connect with us professionally at LinkedInhttps://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

The Problem Aging Owners Are Up Against

The Problem Aging Owners Are Up Against

Rural areas are expected to see more growth in the 65-and-older population than urban areas over the next few decades, according to a report by the Urban Institute. But for those expecting to grow old in their home, it could prove problematic. Many of the aging homes in rural areas are not suitable for elderly homeowners, the report says.

Sixty-one percent of homeowners age 55 and older say they plan to remain in their home as they age, according to the 2016 Aging-in-Place Report. The report says more education is needed on not just explaining what it means to age in place but also what it means to “thrive in place,” the report notes.

Further, the ULI report is urging the real estate industry for greater rehabilitation of aging homes in rural areas and for increased training and capital for rehabilitation projects. Also, seniors may desire more options of smaller, newer homes to move into. Expanding home equity programs to allow older homeowners who are still mobile to tap into home equity and update properties may help alleviate current inventory shortages too, the report notes.

“The number of aging homes that are good candidates for rehabilitation is expanding much faster than new households throughout rural America, making this rehabilitation need urgent,” the report notes. “Many households can make the investments themselves, and installing energy-efficient systems can offer savings. And as demand grows for home retrofits, so will the experience of local contractors and the building industry more broadly, increasing innovation and decreasing cost.”

 

I read this article at: http://realtormag.realtor.org/daily-news/2017/01/09/problem-aging-owners-are-up-against?om_rid=AACmlZ&om_mid=_BYdA7tB9XEhzLd&om_ntype=RMODaily

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnaphttp://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page: http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitterhttps://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

Help Clients Avoid House-Hunting Drama

Help Clients Avoid House-Hunting Drama

The Caton Team’s two cents is added in italics.

“Moving is one of the most stressful situations that a person can go through,” says Frank Schofield, an associate broker with Summit REALTORS® in Northern Virginia. “It’s one of the most rewarding, but also one of the most stressful.”

To make the house-hunt a little less stressful, real estate pros offer the following tips:

  1. Determine what you want upfront, and stick to that criteria.

What are your non-negotiables? What location do you desire? What educational opportunities are important? What do you want your daily commute to be? And what price are you willing to pay? “The first step to avoid house hunting drama is to really sit back and think about what is most important to you,” advises Jason Mitchell, founder and president of Jason Mitchell Real Estate. “This will narrow down your scope so you are not looking at hundreds of homes, just the ones that fit in your criteria. … Looking in an area that’s not going to provide the home type that you want is going to cause frustration.”

Being focused is most important. It is also easier said than done, especially if this is your first purchase. The Caton Team suggests you start with a broad scope when you first start off. We like to cover as many options for the start and work our way down quickly to a manageable list.

  1. Get preapproved for a mortgage.

Avoid delays once you do find a home by getting your loan preapproved. “If there is any issue, it is identified early on in the process and not the moment that you’re trying to submit a contract on the property,” says Schofield. Also, you’ll know your numbers and how much to expect on a monthly payment to make sure you’re house-shopping within your price range.

THIS IS THE MOST IMPORTANT STEP. So important – The Caton Team suggests you get pre-approved even before we meet. Knowing how much mortgage you qualify for, knowing any defects on the credit report before the hunt even starts ensures a smooth experience. And it helps us bring into focus what is most important, where that is and what it looks like in a home. 

  1. Communicate.

Share with your real estate agent the biggest stressors and fears you have in the home-buying process. “The more open the client is with the agent, the less drama is going to present itself in the transaction,” says Schofield. “You have to trust your agent and relate to them as a confidant, as an ally.”

We couldn’t agree more. Being comfortable with your Realtors takes some of the stress off the situation. It helps us too! If we feel we have open communication and trust – truly we (The Caton Team and you) can move mountains.

  1. Don’t linger too long.

“Believe me, procrastination causes drama,” Schofield says. For home buyers on a deadline, Schofield recommends beginning four to six months ahead of time to start learning more about the market. Plus, with mortgage rates forecasted to move higher this year, buyers who wait too long may find what they can afford lessen. “Have the right expectations, or else you’re setting yourself up for frustration,” Schofield says.

I always tell my clients – we are shopping now – with today’s rates, prices and market AND IT WILL CHANGE. Therefore together we plan accordingly.

 The Caton Team knows how much patience and work it takes for our clients to buy a home. We are happy to sit down, answer you questions and prepare a plan to turn your dreams into reality. How can The Caton Team help you?

I read this article at: http://realtormag.realtor.org/daily-news/2017/01/03/help-clients-avoid-house-hunting-drama?om_rid=AACmlZ&om_mid=_BYa-g2B9W3LGkZ&om_ntype=RMODaily

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnaphttp://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page: http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitterhttps://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

HUD Lowers FHA MIP by a Quarter Point

HUD Lowers FHA MIP by a Quarter Point

 

This article was published on 1.9.17 – things may have changed by the time this blog posts.

 

Mortgage insurance premiums on FHA-backed loans will be lower by 25 basis points on loans endorsed starting January 27, the federal government announced today.

“After four straight years of growth and with sufficient reserves on hand to meet future claims, it’s time for FHA to pass along some modest savings to working families,” Julian Castro, secretary of the U.S. Department of Housing and Urban Development, announced today.

NAR President Bill Brown praised the move. “Dropping mortgage insurance premiums will mean a lot more responsible borrowers are eligible to purchase a home through FHA,” he said. “That puts more money in the fund to protect taxpayers, and it puts more families in homes so they can live out the American dream.”

The new premium schedule, which takes effect for residential mortgage loans that have an insurance endorsement date on or after January 27,  is expected to save the average home buyer $500 a year in insurance costs.

In its announcement, HUD said the reduced premiums reflect the healthy state of HUD’s mutual mortgage insurance fund, which is the agency’s principle fund for insuring FHA mortgages. “We’ve carefully weighed the risks associated with lower premiums with our historic mission to provide safe and sustainable mortgage financing to responsible homebuyers,” said Edward Golding, HUD principal deputy assistant secretary for housing. “This conservative reduction in our premium rates is an appropriate measure to support [home buyers] on their path to the American dream.”

Under the new schedule, a home purchase with a base loan amount of up to $625,000, with an 85-percent loan-to-value ratio and a 30-year loan term, will require an annual mortgage insurance premium of 55 basis points, down from 80 basis points.  A 15-year loan of that same amount and with a 90-percent LTV ratio will require an MIP of 25 basis points, down from 45. Access the full schedule.

NAR is calling on FHA to take even more steps to help home buyers, including eliminating FHA’s “life of loan” mortgage insurance requirement, which forces borrowers to maintain mortgage insurance regardless of their equity position. Borrowers with traditional mortgage insurance can typically extinguish their mortgage insurance once they reach 20 percent equity in the property. “Our work continues, but we’re encouraged by today’s announcement,” Brown said.

 

I read this article at: http://realtormag.realtor.org/daily-news/2017/01/09/hud-lowers-fha-mip-quarter-point?om_rid=AACmlZ&om_mid=_BYdA7tB9XEhzLd&om_ntype=RMODaily

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnaphttp://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page: http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitterhttps://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

28 Design Ideas Coming to Homes Near You in 2017

 

Looking for some great ideas for your home? How about a voice-activated assistant that will give you a weather update while you pour coffee into a preheated mug from a warming drawer? Not your style? No worries — there’s something for everyone in this preview of 2017 design trends. We plowed into Houzz data, sifted through popular photos and articles, and talked to industry leaders for this look at 28 things we think you’ll be seeing more of in the home in 2017.

  1. Satin brass.Brass finishes have been making a comeback in recent years, cherished for their ability to bring shiny golden tones to a space without the high price tag. But more recently, designers like Elizabeth Lawson have been turning away from the reflective finish of polished brass and embracing satin or brushed brass, which is more muted and warm.

    “I especially like a satinbrass finish because it’s transitional and can complement a number of styles,” says Lawson, who used the finish in the kitchen shown here. “It also looks amazing against almost any color of the rainbow. I think we’ll continue to see rooms with satin brass for quite some time and also possibly mixed with other finishes for a more eclectic look.”

  1. Voice-activated assistants. There’s been a lot of talk about voice assistants in the home. It’s something Shawn DuBravac, chief economist of the Consumer Technology Association, which puts on the Consumer Electronics Show every year in Las Vegas (Jan. 5 to 8, 2017), says will be big in 2017.

Amazon’s Alexa, which is enabled in the Echo Dot shown on this side table, acts as a voice-activated interface for many smart home devices. Google Home’s voice assistant launched about a month ago.

These devices work through activation phrases like “Alexa” or “OK Google.” The devices, placed throughout your home, are always listening in somewhat of a dormant state. Say the activation phrase, and the device fires up and awaits your command. Ask it to give you the weather or play a song from Spotify or dim your lights or power up the hot tub.

Early last year, Amazon opened its platform to third parties and has since added thousands of integrated features from smart home companies like Lutron, Crestron, Philips Hue, Wemo, Honeywell, Nest, Samsung Smart Home to other services from Uber, Domino’s, NPR and more.

Google Home just launched its voice-activated assistant about a month ago, and DuBravac says he expects the company to open the platform to third-party companies soon.

“What you’re seeing is continued maturing of the smart home ecosystem,” he says. “It’s still a very nascent technology. Maturing isn’t something that happens instantaneously, but over time.”

  1. Vanity conversions. If you’re having trouble finding the right premanufactured vanity for your home, try thinking outside the cabinet box. Many savvy homeowners are finding chests of drawers, old file cabinets, vintage consoles and more, and converting them into one-of-a-kind vanity
  1. Hardworking kitchen storage walls. In search of more open space, many homeowners and designers are doing away with expanses of upper cabinets and pushing all that storage onto a single hardworking wall. This one-stop hub frees up the rest of the space to create a breezy look.
  1. White with off-white. There’s just something refreshing about a room bathed in white. But when done in one stark white tone, things can start to feel clinical. Balancing a white palette with creamy off-whites and natural linen hues creates a breathtaking look that can be rich with character.
  1. Greenery. Pantone’s verdant color of the year for 2017, Greenery, seems to be an instant hit for those looking for a revitalizing, back-to-nature hue that brings zest while still managing to work with warm wood tones.
  1. Splurging on laundry rooms. Everyone knows that kitchens and bathrooms get the big remodeling dollars, but many homeowners are seeing value in making every space look great. And laundry rooms in particular are seeing more love. Design tricks to bring in more light, smarter storage and better function resonate with homeowners who realize that since they spend a lot of time doing laundry, why not do it in a space that makes them feel good?

According to the 2016 Houzz & Home Report, people remodeling their laundry rooms of 150 square feet or more will spend an average of $2,700. Take away appliances, and that’s a sizable budget to splurge on tile and other details.

  1. Splurging on entryways. The entry, like a powder room, is a compact place where you can have fun with design without blowing a budget. Homeowners will spend on average $2,500 to make over their entryway or mudroom that’s 150 square feet or more ($1,400 for a space that’s less than 150 square feet), according to the 2016 Houzz & Home Report.

Sometimes all it takes is a small area to feature a fun piece of wallpaper, a statement mirror or a narrow table with a tray for shoes underneath. After all, first impressions matter.

  1. Outdoor-feeling indoor showers. An outdoor shower is highly desirable but not practical year-round in most areas of the country. To get around the weather dilemma, designers and homeowners are looking to intimate courtyards and strategic site placement to create bathrooms that connect deeply to the outdoors while still maintaining privacy.
  1. Counter-depth fridges. For small to modest-size kitchens, remodeling is often a game of inches. Counter-depth refrigerators sit flush with adjacent cabinetry and countertops, freeing up just a bit more space while creating a streamlined look.
  1. Between-studs storage niches. Here, designer Robin Schwadron carved out space for hidden toiletry storage behind a wall panel.
  1. High-tech toilets. Of the homeowners who are upgrading their toilet during a remodel, 20 percent will choose a model with at least one high-tech feature, according to a 2016 Houzz study of U.S. bathroom trends. Some of those features include self-cleaning, overflow and anti-clog protection, motion-activated seat and cover, built-in nightlight (as shown here), heated seating, self-deodorizer, and hands-free flushing.
  1. Black steel-and-glass doors. These glass-paneled and steel-frame doors are great for dark entryways that could use some natural light, and they make a statement for shower doors when frameless glass just doesn’t cut it.
  1. Contrasting islands. When it comes to cabinets and backsplashes, the color white dominates in kitchens. That’s according to a recent Houzz kitchen study. In larger spaces with islands, a white-on-white scheme can come off as too sterile-looking. Painting islands in darker colors helps bring contrast and balance.
  1. Wainscoting in bathrooms. Twenty percent of bathroom remodelers will choose painted wood panels in their bathrooms, according to the Houzz bathroom survey. Whether it’s traditional wood wainscoting or tile with a chair rail to break up the room, this design feature is a terrific way to add interest.
  1. Graphic floor tile in kitchens. Sometimes wall space is nonexistent in a kitchen, which diminishes the opportunity for a standout backsplash. To keep the airy feeling of your kitchen but still deliver visual impact, look to graphic floor tile, like the black-and-chalky white cement tile with a Moroccan-style pattern shown here.
  1. Playful bedside pendant lights. Forget boring old table lamps. Pendant lights free up bedside space for nightstand essentials and are especially helpful in small rooms.
  1. Kitchen entertaining hubs. If you’re lucky enough to have a spare wall in your kitchen, you may have debated about what to put there. Multipurpose is the name of the game, with designers looking to high-efficiency design that produces maximum function and style. Custom cabinets can transform a small wall into a storage and function workhorse, turning these previously cast-off areas into coffee and beverage centers, extra prep space, command and message kiosks, and much more.

Meanwhile, not skimping on design bears merit too. Backsplashes, glass-fronted cabinets, thoughtful lighting and elegant materials make these walls worth looking at.

  1. Amped-up coffee stations. If you thought people couldn’t get more pumped (make that double-pumped?) for coffee, you might be surprised. With 10 percent of homeowners adding built-in coffee stations, according to the Houzz & Home survey, the upgrades being offered are getting hotter all the time. How about a dedicated warming drawer for your mugs, as seen here? Or storage carved out specifically for those Nespresso or Keurig pods?
  1. Romantic bedroom colors. Most homeowners strive for a calm and cozy bedroom by sticking with walls painted in soothing blues, grays or yellows. But according to a recent Houzz survey, intimate or romantic is the third-most desired atmosphere for a master bedroom after calm and cozy. To achieve this mood, look to colors like raspberry pink, deep ruby red, caramel and even black.
  1. White-and-wood kitchens. To keep the all-white kitchen look from becoming too cold, designers and homeowners are introducing wood accents to help break up the look visually and provide much-needed warmth.
  1. Warm wood cabinets. Taking that concept a step further, warm wood cabinets in modern styles are gaining in popularity. These aren’t the honey-colored, off-the-shelf cabinets from the 1990s, but rather clean-lined, beautifully stained versions that celebrate various wood grains and species.
  1. Perked-up side yards. Side yards get a bad rap. Often shaded, noisy from the air-conditioning unit and relegated to a holding area for junk you plan to throw away someday, these spaces see their fair share of neglect. But homeowners use these areas frequently as footpaths around the home, and some are seeing the potential for beautifying their side yards and creating more usable outdoor space.
  1. Hexagonal tile backsplashes. If you’re looking for a break from the rectangular subway tiles or small square mosaics that seem to show up in almost every kitchen, then it’s time to think geometrical.
  1. Walls of tile in bathrooms and kitchens. Many homeowners are eschewing the typical above-the-countertop, below-the-cabinets backsplash format and going a bit more dramatic with full floor-to-ceiling, wall-to-wall tile coverage.

In bathrooms, tile is going everywhere. Many designers and homeowners find that it’s a minor splurge to buy enough tile to cover the walls of a relatively small or medium-size bathroom or kitchen.

  1. Dutch doors. Dutch doors let in breezes and light while keeping pets and small kids safe. We’re seeing these doors pop up in everything from kitchens to entryways.
  1. Statement-making bathroom sinks. Eighty-eight percent of people remodeling a bathroom will change out the sink, according to a recent Houzz bathroom study.
  1. Hanging chairs. Although these have been around for a while, they’re popping up more lately, and not just in living rooms. They’re a great way to add an extra seat with a fun statement to a room.

Your turn: What’s big on your design list for 2017?

I read this article at: http://www.houzz.com/ideabooks/76592040?utm_source=Houzz&utm_campaign=u4347&utm_medium=email&utm_content=gallery1&newsletterId=4347

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

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Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008

 

Real estate predictions for 2017

Brad Inman’s crystal ball: Real estate predictions for 2017

The year of the homeseller, a female CEO of NAR and more

Here were my predictions for 2016.

 

Here are my predicitons for 2017.

2017 will be the year of the homeseller

The most profound real estate technology innovations in the last two decades have benefited homebuyers finding homes and agents becoming more efficient.

This coming year, technologists and venture capitalists will zoom in on homesellers, with the $60 billion commission pie up for grabs.

Opendoor, Knock and to a degree transparent bidding features are examples. Using technology, more companies will figure out how to give sellers more certainty around their home sale.

Don’t miss out on the homeseller innovation parade — your livelihood is at stake.

The housing market will soar (temporarily)

Boosted by the Trump confidence pop, mortgage money will be plentiful.

IRAs (individual retirement accounts) are already increasing in value, and job creation efforts will take hold as unemployment has already reached new lows. Both of these trends will give consumers a boost in the market.

This could be short-lived as robots steal millions of service jobs, middle managers included. This trend will make overseas offshoring seem like a pimple on our butt.

Enjoy the sunlight, but stash away some of your profits for dark clouds later.

NAR will pick a woman to lead the trade group

Though the old-guard will lobby hard for anointing one of its own, the National Association of Realtors will do what the country could not — make a woman the CEO.

Remember, your hard work funds NAR, so speak up in one way or the other. If you hold an opinion, email the search committee and give them a piece of your mind.

Zillow will expand overseas by acquiring a European portal

Zillow will cross international borders through an acquisition of some type, somewhere.

Growth opportunity in the U.S. is still strong, but to fill its valuation expectations globe trotting will be necessary.

Still avoiding Zillow as a source of business?  Think twice before you continue to dismiss the giant portal.

Footnote: dotloop (a Zillow company) will come out of the closet and do some interesting things on the back end that make life easier for brokers and agents.

Opendoor becomes second-biggest broker in the country by year’s end

One year from now, Opendoor will be the second-largest broker in the U.S., second only to NRT.

By unit count — and, most importantly, by revenue — the exchange platform will give a segment of the selling market the certainty they generally cannot get when unloading their homes the traditional way.

Remember, Opendoor still works with buyers agents, so when the company comes to your market, consider how to make it work for you.

Redfin files to go public

The 10-year old online plodder will take its story to Wall Street and file to go public.

Redfin will use its new funds to capture more share in its current markets and continue to innovate and make gains on the recruiting front and with its technology.

Lots to learn from Redfin — copying their best features is one strategy to compete with them.

Equity-sharing mortgages will spread

Wall Street will provide the funds, and homebuyers in pricey markets with a sparse down payment will be the beneficiaries, as equity sharing becomes widespread because of support by Freddie Mac, Fannie Mae and the big lenders.

Learn everything you can about this new loan so you can help your buyers who are scrambling to save their down payment.

Luxury housing market recovers, but tastes change

With a U.S. President who earned his billions in luxury real estate, the high-end market will have a revival as rich people who have been hoarding their cash and hiding out from the redistributionists will tiptoe back into the market.

But tastes will change. Walkable neighborhoods will become the Cartier wrist bands of real estate, guard dogs in tow.

Docusign IPO bigger than Zillow

The paperless cruasader, San Francisco-based Docusign will  go public, shining light on the real estate efficiency race. The company’s finances will look sterling and get the attention of Wall Street technology skeptics.  The IPO could be huge.

 Mars will be subdivided

A first step in creating a new civilized world on Mars will be a plan to subdivide the far-off planet. It could pay for space exploration. That is how we pay for infrastructure on planet earth.

Some of the smartest minds in the real estate industry will get involved. But don’t be bamboozled into investing in Mars property — yet.

The present and future will merge

Bots on your phone and on everything you own or drive will help you manage many functions of your life and will be automatically updated, taking you into the future every second, whether you like it or not.

Installation artist Douglas Coupland calls this phenomenon “accelerated acceleration.” Your challenge will no longer be keeping up with technology, because it has already kidnapped a big part of your life.

Instead figure out how to hold onto, restore and grow your humanness.

Bottom line: Enjoy 2017 — it will be a fun and exciting year.

What do you think 2017 will bring????

I read this article at: https://www.inman.com/2016/12/13/brad-inmans-crystal-ball-real-estate-predictions-for-2017/

Remember to follow our Blog for the local real estate beat, a pulse on the San Francisco Peninsula at: https://therealestatebeat.wordpress.com

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

HomeSnaphttp://www.homesnap.com/Sabrina-Caton

Visit our Website at:   http://thecatonteam.com/

Visit our INSTAGRAM page: http://instagram.com/thecatonteam

PINTREST: https://www.pinterest.com/thecatonteam/

Visit us on FACEBOOK:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

YELP us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or YELP me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Twitterhttps://twitter.com/TheCatonTeam

Connect with us professionally at LinkedIn: https://www.linkedin.com/in/sabrinawendtcaton

https://www.linkedin.com/in/susancatonrealtor

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Effective. Efficient. Responsive.  What Can The Caton Team Do For You?

 

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE# 70000218/ Office BRE #01499008