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Archive for July, 2012

Headlines were full of good news about the housing industry this week. At least two national reports show the housing industry is on the upswing.

Goldman Sachs raised its rating of building industry investments to “attractive” and released an analysis touting housing as having a “long list of positives,” including rising prices, job growth, supportive government policies, and a decline in the so-called shadow inventory of homes.  Read more:  Goldman Sachs sees ‘strong’ recovery starting for housing.

Meanwhile, market reports show U.S. home value appreciation in the second quarter hitting its highest level since the fourth quarter of 2005. Forbes reported that home values increased 2.1percent from the first to the second quarter of 2012.  Read more: Housing Market Turns Corner; U.S. Home Values Post First Annual Increase In Nearly Five Years

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Crank up the air conditioning and keep the front lawn watered if you want buyers to give your home more than a drive-by during this drought.

Here are some hot ideas for cool showings during a summer when buyers don’t even want to get out of their cars.

http://realtormag.realtor.org/daily-news/2012/07/24/4-home-showing-tips-in-hot-weather

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Even during tough economic times, buyers are willing to pay a premium for homes with Energy-Star ratings and other sustainable features, according to a recent study. Green certification can add 9 percent to the price tag.
 
This may be MOST true in green-focuses areas such as California, where sales were studied, and in Europe, but it bodes well for sales of energy-efficient homes nationwide.

Read more:  http://www.latimes.com/business/realestate/la-fi-harney-20120722,0,7849454.story

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Forget what you think you know about the market for larger homes.  Recent data shows that as the overall housing market rebounds and access to credit improves, buyers are opting for what they always wanted:  spacious homes.

The Census Bureau reports that the average size of a U.S. house rose in 2011 to 2,480 square feet, up from 2,392 square feet in 2010.

Slightly more than 1 in 4 new homes built last year were larger than 3,000 square feet, the highest percentage since 2007. Larger homes include two-story foyers, twin front staircases, children’s wings, dedicated man caves, coffee bars, four-car garages, and bedroom closets large enough for a fifth vehicle.

Read more:  http://www.realestateeconomywatch.com/2012/07/forget-green-building-buyers-still-want-bigger-houses/

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No Michigan cities made the lists for “Ten Best Sellers’ Markets” or “Ten Best Buyers’ Markets” this year, though several Midwest cities still are among the best places for buyers to find deals.

http://www.dsnews.com/articles/zillow-lists-10-best-markets-for-buyers-and-sellers-2012-07-10

 

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http://www.dsnews.com/articles/obama-administration-says-outlook-on-housing-mixed-mods-easing-foreclosures-2012-07-06

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http://www.annarborsummerfestival.org/

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