Labels: Attleboro MA, Cape, Gambrel, Just Listed, kensington Real Estate Brokerage, Sheryle DeGirolamo, Single Family Homes

Great article found on Realtor.org relating to the rise of pending homes sales and how this is another signal that the housing market is recovering:

"Pending home sales increased in March and are well above a year ago, another signal the housing market is recovering, according to the National Association of Realtors®.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 4.1 percent to 101.4 in March from an upwardly revised 97.4 in February and is 12.8 percent above March 2011 when it was 89.9.  The data reflects contracts but not closings.

The index is now at the highest level since April 2010 when it reached 111.3.

Lawrence Yun, NAR chief economist, said 2012 is expected to be a year of recovery for housing.  “First quarter sales closings were the highest first quarter sales in five years.  The latest contract signing activity suggests the second quarter will be equally good,” he said.

 “The housing market has clearly turned the corner.  Rising sales are bringing down inventory and creating much more balanced conditions around the county, which means home prices will be rising in more areas as the year progresses,” Yun said.

The PHSI in the Northeast slipped 0.8 percent to 78.2 in March but is 21.1 percent above March 2011.  In the Midwest the index declined 0.9 percent to 93.3 but is 16.9 percent higher than a year ago.  Pending home sales in the South rose 5.9 percent to an index of 114.1 in March and are 10.6 percent above March 2011.  In the West the index increased 8.7 percent in March to 108.0 and is 9.0 percent above a year ago.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales.  In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy."

To view the entire article, please click here.

Labels: Kensington Real Estate, Pending Home Sales, Realtor.org, Recovering Housing Market, Sheryle DeGirolamo

Labels: Attleboro, Buildable Lots, Kensington Real Estate, Land for sale, Sheryle DeGirolamo

This article, from REALTORMag, goes into why home buying is a smarter choice than renting.

Buying a home is more affordable than renting in 98 of the nation’s 100 largest metro areas, according to the index, which tracks asking prices for rental units compared to for-sale homes in major metro areas.

The only two metros out of the 100 tracked where renting was found to be the better deal: Honolulu and San Francisco. Still, the index notes that if you plan to stay in those markets more than five years, you might still be better off owning than renting in those markets too.

Falling home values and low mortgage rates have made home ownership more affordable. Meanwhile, rents have been on the rise.

“As rents rise and prices stagnate, home ownership is becoming even more affordable, but rising rents create a dilemma for people who can’t afford to buy yet,” says Jed Kolko, Trulia’s chief economist. “Rising rents make it harder for people to save for a down payment, which is the biggest barrier to buying a home that aspiring home owners face.”

Top 10 Metros to Buy vs. Rent
1. Detroit
2. Oklahoma City, Okla.
3. Dayton, Ohio
4. Warren-Troy-Farmington Hills, Mich.
5. Toledo, Ohio
6. Grand Rapids, Mich.
7. Cleveland, Ohio
8. Atlanta
9. Gary, Ind.
10. Memphis, Tenn.

To view this article, click here.

Maybe it's time to start thinking about buying? Contact Sheryle today!

Labels: Attleboro MA Real Estate, Buying A Home, Kensington Real Estate, Realtor.com, RealtorMag, Sheryle DeGirolamo

The numbers don't lie. You can buy more house for less dollars today.

The following article, by The KCM Blog, goes into further details.

We have often advised buyers to look at the COST of purchasing a house more than the PRICE of the home. Obviously, price is part of the cost equation. The other piece, assuming you are not an all cash buyer, is the mortgage rate. The mortgage rate to finance a purchase can have a dramatic impact on the overall cost. Recently, there are more people talking about the possibility that mortgage rates could begin to increase.

HSH.com studies trends in mortgage rates. They explain:

    “A better economic climate almost always brings higher rates, and a lessening of the troubles in Europe from massive central bank assistance adds to the movement of money from safe havens to more risky assets, driving rates upward.”

Dan Green of The Daily Market Reports recently stated:

    “The Fed sees growth coming faster than originally expected. There’s suddenly less chance that the Federal Reserve will intervene to help keep mortgage rates low. Absent Fed intervention, mortgage rates are apt to rise and Wall Street is now betting that the Fed has bowed out. With no stimulus, mortgage rates rise.”

Lawrence Yun, chief economist for the National Assoc of Realtors, recently wrote:

    “Mortgage rates will be starting to rise. From the 3.9 to 4.0 percent average rate in the past five months on a 30-year fixed mortgage, the new rates will soon be in the range of 4.3 to 4.6 percent.”

Yun explains his logic here.

We do not attempt to predict future interest rates. We leave that up to the experts in the field. However, we want our readers to understand the potential impact on the cost of purchasing a home if they do rise. Here is a simple table that shows, even if the PRICE of a home softens, the COST of a home could increase.

Bottom Line
Many purchasers think they should wait until they are sure that prices have hit bottom. Deciding whether or not to wait should be determined by where the COST of a home is headed.

To view this article or more by The KCM Blog, please click here.

Labels: Buying A Home, Cost vs. Price, Kensington Real Estate, Mortgage Rates, Real Estate, Sheryle DeGirolamo

This article from Realtor Mag goes into the science behind color and how it can guide your color decisions when preparing your home for sale.

Take care when giving color advice to home sellers. Their color choices might be sending the wrong message to potential buyers.

Many salespeople and stagers say neutral beige or off-white walls are what sells listings—but a touch of color may be just what you need to revive buyers' interest in a languishing listing. And although beige may offend no one, the right color on a home's walls or spotlighted in the accessories can trigger positive physiological and psychological responses among potential buyers.

"Color can change how you feel; it has an instantaneous effect," says design psychologist Constance Forrest, principal of Forrest Painter Design in Venice, Calif., who incorporates psychological techniques in the design of interior spaces. "If people walk into a space and sense a warm color, they immediately get a sense of a cozy home and will probably reactive positively."

White, on the other hand, "makes the room invisible," Forrest says. "White is a missed opportunity to create a feeling in the space. It doesn't help buyers imagine themselves in the home." (Not to mention, in Asian cultures, white is associated with death and can add a certain doom to listings.) Forrest says that pastel colors—which have a mostly white base—can have a similar, invisible effect.

Responsive Hues
Research on color responses has shown that warm colors, such as orange and red, can increase excitement and energy, whereas cooler hues, such as blue, can be calming and relaxing. Indeed, research shows color can influence a person's senses—even body temperature—and make scenes more memorable. Knowing the responses colors evoke offers insight into where and when you should use color in a home to appeal to buyers.

Go Green, Cautiously
"Many studies have been done on the impact of color in packaging on purchasing decisions," says Debbie Zimmer, spokeswoman for The Rohm and Haas Paint Quality Institute, a research and education group on decorating and color techniques. "You can take that concept of color and paint and apply it to a space to create a mood in a home."

So what color can lift a buyer's spirits? The most potent color is green, Forrest says. In light-spectrum research that focused on treatments for season affective disorder, she notes, subjects exposed to green colors were in better moods than any of the other subjects tested.

But before you start splashing green on all your listings, take caution. Not all shades of green are a safe bet. For example, lime greens—or any yellows with green undertones—"look sickly to most buyers," says interior designer Jeanette Fisher, an author of 22 books on design psychology. Fisher has used color techniques to redo and sell homes for more than 20 years. Medium shades of green such as sage—and bedrooms painted in creamy tones of green—can be a good choice, she says. Fisher also favors buttery yellows inside and out, complemented with white trim accents.

4 Steps to Selecting a Color
To select the right color for each room of your listing, design experts recommend applying the following strategies.

1. Coordinate with the room's use. Certain colors lend themselves to certain activities. For example, studies show that kitchen and dining areas painted in "food colors"—such as celery green or red—increase appetite, whereas blue acts as an appetite suppressant. On the other hand, the tranquility evoked by blue makes it ideal for bedrooms, Fisher says.

2. Paint for the season. Color directly impacts your senses, making a room's temperature feel cooler or warmer. For example, bring in warm colors—such as reds, oranges, and yellows—in the fall and winter months, and cooler colors—greens, blues, and purples—during the spring and summer. To save yourself some hassle, paint just one accent wall in a room, or bring out the season-appropriate colors using accessories such as throw pillows or a vase of flowers.

3. Use a directional approach. The effect of color on perceived temperature also means that the direction a room faces should influence color choices. North-facing rooms may not feel as warm and inviting to buyers because they don't get as much sunlight, an impression that can be lessened by painting them a warm color. "If you have a very warm room that is facing south, and you want to cool it or calm it down, use cooler hues of blue or green," Zimmer suggests.

4. Harmonize. You can also use color to provide a sense of order and balance in a home. Using variations of the same color throughout a house, rather than painting every room a different, contrasting color, provides a sense of flow from one room to another and doesn't distract buyers' eyes.

"Color is always a very personal choice," Zimmer adds. "So color choices can be subtle. A color doesn't have to be McDonald's yellow or Red Roof Inn red to be noticed. It can be a derivative or a subtle tint or tone of those particular colors to create the warming effect buyers want in a home."

Use the Color Wheel to Mix & Match
Remember learning about the color wheel in grade school? This 12-step circular rainbow graphic shows the relationship among colors and can serve as a helpful guide in choosing what colors to mix and match in a home to get pleasing results. Here's a refresher.

The color wheel is broken down into three main categories: primary (foundation colors used to create all other colors), secondary (created by combining two of the primary colors), and tertiary (formed by combining a primary and an adjacent secondary color).

To mix and match colors easily, you can use the color wheel in one of two ways:

1. Complementary Two colors that fall directly opposite one another on the color wheel (e.g. red and green, blue and orange, and yellow and purple). They create a maximum contrast and can be visually intense.

2. Analogous Color schemes that consist of any three colors located side by side on the color wheel (e.g. yellow, yellow-orange, and orange). One of the three colors usually dominates. This color scheme can add depth and energy to a room.

For more information or to see the full article, please click here.

Labels: Kensington Real Estate, Painting, Real Estate, Selling your home, Sheryle DeGirolamo, Tips for staging your home

While national home prices and sales may not recover to their historical levels until 2013 at the earliest, some local housing markets always outperform others in any given year.

In this second annual report (see last year's report: Top 10 Markets to Watch in 2011), Inman News examined housing, economic and demographic data for metropolitan areas nationwide to identify 10 housing markets to watch in 2012.

These markets are showing signs of strength in several key metrics, including above-average price appreciation, a flourishing job market, a high rate of sales in proportion to population, a high level of home affordability, low foreclosure activity, a below-average share of distressed sales, a low vacancy rate, and other characteristics indicating a healthy housing market.

To read the entire article and list by inmanNEWS, click here.

Labels: Kensington Real Estate, Real Estate, Real Estate Market, Sheryle DeGirolamo