Communicate More Easily About Your LOFT with Houzz

31 May 2013 · by Virtual Results PubSub

questioning how to redo your homeAs you’ve thought about your LOFT and its many needs, chances are you’ve visited Houzz.com. Design ideas for both inside and outside your LOFT abound at Houzz and luckily they have now added a “Real Estate Agent” category!

This is good news for you and your LOFT because it gives you an easier way to communicate when it comes time to buy or sell your LOFT.

Perhaps you are in the market to buy a LOFT… simply show favorite LOFT ideas to your real estate agent to see if any similar properties are currently for sale. You could also show your ideas and ask how they compare to your price range.

As a LOFT seller, you can use the millions of photos and idea books to decide quick fixes to get your LOFT ready to be placed on the market.

With photo spreads, both buyers and sellers benefit. There is no longer the need to labor over how to express yourself with words when it comes to explaining a LOFT look. You can even see post renovation shots that are similar to projects you are considering for your LOFT. However, viewing some the pictures may have you reconsidering whether or not you really want to buy or sell your LOFT, too!

One other benefit you’ll find on Houzz is the compilation of excellent contractors and renovators found there. Many have uploaded projects and idea books in the Houzz galleries, too, complete with reviews on their services, to give you a very clear understanding of how each one works.

Houzz reports that 10% of Houzz LOFT owners and 50% of Houzz renters plan on buying a LOFT in the next 2 years. Additionally 10% more will be building a custom LOFT, according to the 2013 Houzz & LOFT survey. Using Houzz as a tool may make the buying process smoother in ensuing years. If you’ve had a positive experience explaining your LOFT needs through photos, please let us know.




Will Creeping Mortgage Rates Affect Your LOFT?

31 May 2013 · by Virtual Results PubSub

Your home and interest ratesDespite that fact that mortgage rates are slowly creeping higher, Freddie Mac reports that they are still low enough to allow high LOFT-affordability for your LOFT. In fact, LOFT sales continue to rise and new construction is being completed nationwide to keep up with the demands of prospective LOFT buyers.

The Primary Mortgage Market Survey® (PMMS®) reported the average 30-year fixed-rate mortgage (FRM) at 3.59% (0.7 point) last week, which is still lower that the average rate of 3.78% a year ago. The current average 15-year FRM came in at 2.77% (0.7 point), versus the reported 2012 rate of 3.04%.

The rate increase has been gradual and is not expected to affect your LOFT sales at this point.

Frank Nothaft, vice president and chief economist, at Freddie Mac, responded to the higher rates, saying,”While this may slow some of the refinance momentum, rates are nonetheless low and LOFT-buyer affordability high, which should further aid LOFT sales and construction in coming weeks. For instance, in April, single family housing permits rose to the strongest pace since May 2008 while existing LOFT sales for the same month grew the most since November 2009. Moreover, the National Association of Realtors® reported that the median number of days on the market for these sales fell from 62 to 46 days, the fewest since it began collecting the data in May 2011.”

Little change was seen in the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM), shown at 2.63% (.5 point) for May 23, 2013 as compared to 2.83% for the same time period last year, and the 1-year Treasury-indexed ARM is currently averaging 2.55% (0.4 point), while last year it came in at 2.75%.

To read more about the housing market and review current and historic rates, please click here.




Report Indicates Stronger Market For Your LOFT

31 May 2013 · by Virtual Results PubSub

your home and rising pricesWhether you are trying to sell your LOFT or are hoping to buy, the latest report from Fannie Mae’s Economic & Strategic Research Group shares a positive outlook.

The Group report indicates a marked increase in consumer spending since 2010 and a “modest re-acceleration” is predicted for the rest of 2013 due to a stronger labor market and improving financial and housing market conditions. Growth of 2.2% in housing and market conditions for 2013 is further anticipated, which is good news for your LOFT.

According to Fannie Mae Chief Economist Doug Duncan, a sustainable pace is continuing in the housing market, and should “act as a tailwind for the economy throughout the year and into 2014.” The Economic & Strategic Research Group cited continued increased LOFT demand as a possible significant contributor to growth in 2014.

Duncan went on to state, “Our May forecast predicts that the second half of 2013 will be a little stronger than the first half, despite the slowdown during the past couple of months.”

As the housing market shifts, does it change how you feel about your LOFT status currently?

Do these statistics spur you towards selling your LOFT?

As a buyer, does this information cause you to feel that now is the best time to buy your LOFT?

If so, there are lots of options to consider as you buy and sell. If you have questions, please feel free to contact me. If you want to see the May housing forecast, please click here.




W Penthouse

14 May 2013 · by ChrisSampaio

mediaservice.themls

The W just listed their bigger and most expensive Penthouse. Its 25,000 sq ft and priced at $45 Million. This is an amazing place with 360 degree views on the 15th floor. It features 7 bedrooms, 11 bathrooms and 17 parking spaces.  Here is the listing.

We're sorry, but we couldn't find MLS # 13672191 in our database. This property may be a new listing or possibly taken off the market. Please check back again.


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