Monday, November 19, 2012


Forever Homes: Homeowners Make Their Homes Retirement-Ready
It's been called aging in place, universal design and now the more eloquent term: "Forever Homes".

"I don't like to call it aging in place because it's depressing. Nobody likes to think about when they're old. So I call it a 'Forever Home.' Really what that means is that you're planning on staying in your home forever and eventually you're going to get older and so to plan for the future is wise," says Steven Mark, Senior Design Consultant with Marrokal Design & Remodeling.

According to American Association of Retired Persons, the majority of older homeowners prefer to live in their homes as they age rather than move to a nursing facility or other retirement center.

With that in mind, if you're purchasing a home and it isn't yet a "forever home", not to worry, says Mark. He point out that if you think things through from the start you can have your home remodeled in such a way that it provides for room to age.

Mark is a Certified Aging In Place Specialist. He helps homeowners stay in their homes forever by planning for the future and making sure they'll be comfortable, safe, and secure.

"I don't think there is one most important thing. I think it's all important. I think it's vital to discuss everything and let the clients decide what they feel is most important," says Mark.

Some of the top trends in forever homes are wider entry ways, showers that are wheelchair accessible, and grab bars that are placed in key places in the bathroom showers but are also decorative.

"There are lots of things that we can do for a client. For instance, something as simple as wider doorways can be a big help," says Mark.

He says making the doorway just a couple of inches wider can ensure later that a wheelchair will be accessible. At the same time, it doesn't look any different and is undetectable.

"It doesn't cost any more money but if there's ever a wheelchair in the house, [the homeowners] will be glad that there are just a couple more inches on every single doorway in the house," says Mark.

Another feature that's vital for multi-level homes is an elevator. Mark says that sometimes homeowners don't want to put out the money for the elevator before they really need it.

"A lot of times what I'll do in my designs is prepare for a future elevator. I can take a closet downstairs and a closet upstairs and that will be the shaft for the elevator," explains Mark.

The company then prepares it so that if in the future an elevator is put in, it is wired properly and ready to go. "They will lose the two closets but they get the elevator when they need it."

"The most important thing is to consult with somebody who is knowledgeable in this field and certified because there is nothing worse than doing a project today and then having to redo the project to add the necessary features," says Mark.

A little bit of time learning about your options can provide a lifetime of comfort and safety.

Monday, November 12, 2012

Real Estate Outlook: New Home Sale Surge


There was a 5.7 percent increase in the number of sales of newly built, single-family homes in the month of September according to HUD and U.S. Census Bureau. This is the fastest pace since April 2010, when first-time home buyers rushed to take advantage of the home buyer tax credit.


"Combined with consistent, positive reports on housing starts, permits, prices and builder confidence in recent months, today's data provides further confirmation that a gradual but steady housing recovery is underway across much of the nation," said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. "Consumers who have been on the sidelines during the past few years are deciding now is the time to go forward with a new-home purchase, assuming they can qualify for a good mortgage under today's exceedingly stringent guidelines."



"New-home sales this year have consistently and significantly out-paced their year-ago levels as favorable interest rates, rising prices and improving consumer confidence have driven demand higher," noted NAHB Chief Economist David Crowe. "Meanwhile, despite a small increase in the inventory of new homes on the market in September, the number of completed new homes for sale is now at an all-time low and the month's supply is at its tightest since October 2005. This is an indication that builders continue to have a tough time obtaining construction credit, even as demand for new homes increases." The inventory is now at a 4.5 month supply.

Regionally, gains were widespread, with both the Northeast and South posting double-digit gains, 16.7 and 16.8 percent respectively.



The good news extends past just new home sales this month. The latest National Association of Home Builders/First American Improving Market Index (IMI) shows that 22 new markets have made the list, which now totals 125 housing markets showing consistent -- 6 months worth -- improvement data in employment growth from the Bureau of Labor Statistics, housing price appreciation from Freddie Mac and single-family housing permit growth from the U.S. Census Bureau.



Markets added to the list in November include such geographically diverse locations as San Diego, Calif.; Gainesville, Ga.; Omaha, Neb.; Louisville, Ky.; and Charlotte, N.C.



"Ninety-seven out of 103 markets retained their spots on the list from the previous month," observed Rutenberg. . "This shows that a housing recovery is firmly taking root and helping generate needed jobs and economic growth across much of the country -- though we know that this expansion could be even stronger were it not for ongoing challenges including overly tight lending conditions and difficult appraisals."



"The solid increase in the number of improving housing markets this month illustrates the degree to which the housing recovery has gained momentum since we initiated the IMI last year," noted NAHB Chief Economist David Crowe. "Compared to the 30 markets that made the list as of November 2011, we now have 125, which is about one-third of all the markets surveyed for this index."

Is housing turning a corner? Experts think the latest data may point to just that.

Friday, November 2, 2012

Basic Tips for First-time Buyers

Provided By Realty Times


It's a scary step going from renter to first-time homeowner. Where does one start on the search for the perfect home? How much home can you really afford? Are you ready to sign on that dotted line?


Homeownership is a good long-term investment. The keyword, though, is long-term. There are many extra costs associated with owning a home, including such things as repairs, maintenance, insurance, and cosmetic upgrades. Additionally, homes across the nation are still experiencing declines in value. This means you'll need to stay in a home longer before you'll build equity, likely in excess of five years.

The most logical place to start then is with how much you can really afford.

  1. What can you afford? This is a tricky question. Of course, there is the number your lender gives you. "You qualify for X amount." It's up to you, however, to decide if that amount is reasonable for your lifestyle. Just because you qualify for X amount doesn't mean you should buy a home priced at that. You may find a cheaper home services all of your needs, while leaving you plenty of extra monthly cash for traveling, entertainment, and other of life's pleasures.
  2. Long-term use: Think long-term in terms of the size of the home and its location. You may be a single person or a young couple now, but kids can be a game changer. A once perfectly sized home can seem cramped. With homeowners needing to stay put longer in order not to sell at a loss, it's even more important for first-time buyers to think long-term.
  3. Fixer or move-in ready? Some buyers love to buy a fixer-upper home in a prestigious neighborhood. It's a foot in the door, literally. With a few upgrades and cosmetic fixes you can bring an outdated home into the new decade. Other buyers abhor projects. They want a home that needs nothing. They love the kitchen, baths, and even paint colors. Which type of buyer are you?
  4. Attached or Detached living? A condo can be maintenance free, but it will also come with HOA fees. A townhouse may give you more outdoor space, but you'll still be sharing walls with a neighbor. Are you wanting lots of privacy? Are you looking forward to the autonomy that a detached home affords you? Be sure to discuss all of your options with your real estate agent.
  5. Hiring an agent: If you are like most first-time buyers you'll start your search online. That's a great place to start, but to traverse the roads of real estate competently and safety, you should enlist the help of a real estate agent. They will not only show you the newest listings and the best fitting homes, but will also guide you through all the carefully worded contracts coming your way.
  6. Be ready to pull the trigger: While it is currently a buyers market in most areas of the nation, you still need to be ready to buy when a good deal presents itself. Some first-time buyers can become trigger shy when the time finally comes to make an offer. It's no wonder. Seeing your name next to all those zeros can be quite a pill to swallow. So, mentally prepare ahead of time for the act of signing on the dotted line.
  7. Lender Pre-qualification: Sellers want pre-qualified buyers viewing their homes. This shows that you are serious about buying. It will also show you how much you can spend and even if you can qualify for a mortgage. Lending is tight and if you have blighted credit you may have a hard time procuring a loan.
  8. Downpayment: How much of a downpayment do you have saved? Are there family members who might be willing to help out? Most lenders are now requiring 20 percent down on any home purchase. This means for a $100,000 home you'll need $20,000 in cash to put down.
  9. Resale: If you are planning on staying put for the long haul, resale might not be a real concern, but if this is going to be a starter house, you should be sure to consider how easy a home will be to resell later down the road.
  10. Finally, be sure to consider the "what ifs" of life. What if you or your spouse lose your job? Will you still be able to afford your mortgage payments? What if you become ill? Will you still want to climb those three flights of stairs? What if you have children? Will you quickly outgrow your home? All of these scenarios should be given careful consideration.
Homeownership can be a genuine joy. It can bring stability and a sense of pride to any household. Take the time to think over these ten tips and you'll be sure to make a great decision for your first purchase!