8 Kitchen Trends to Watch in 2013

8 Kitchen Trends to Watch in 2013

By Melissa Dittmann Tracey, REALTOR(R) Magazine

Photo Credit: HomeThangs.com

Kitchens are a popular spot that home shoppers judge in a home. So what are the trends in the kitchen for 2013? HomeThangs.com, a home improvement superstore, offers up some of the following kitchen design predictions for the New Year:
1. Modern style: Kitchens are getting more modern in style, boasting simplified lines and offering up big, open spaces perfect for entertaining.
2. Tucked-away appliances: Appliances designed to blend in with the rest of the kitchen, like with the same wood of the cabinets, are becoming more popular. Also, some appliances, like undercounter or mini refrigerators or trash compactors, are being tucked away into a kitchen island.
3. Lots of lights: Great lighting in the kitchen is becoming more important, with lighting being layered with a mixture of task lighting and ambient lighting. Under-cabinet LED lights are becoming more commonplace.
4. Supersized kitchen islands: “2013 kitchen design trends are moving away from dining rooms and toward eating, drinking, and interacting in the kitchen itself, and a large kitchen island complete with bar stools is the perfect way to make this happen,” according to HomeThangs.com. this helps to create “a nice open-air feeling – especially if one can be used to bridge kitchen and living areas, another major 2013 kitchen design trend.”
5. Neutral color schemes: The use of neutral colors in the kitchen is on the rise, particularly in shades of grays and greens and a variety of wood tones. Bright colors are being reserved for only small accents in the kitchen.
6. Fancy appliances: Professional gas ranges and induction cooktops are popular kitchen appliances for making a more gourmet kitchen.
7. Decorative range hoods: Trends are moving away from a conventional stainless steel trapezoid-shaped hood to more decorative range hoods. These hoods may have built-in LED lights and are even serving almost like a decorative chandelier for a kitchen island.
8. Glass backsplashes: High gloss is “in” for cabinets, appliances, and backsplashes. A single-sheet, back-painted glass blacksplash is growing in popularity, which are also known for being easy to clean. These glass backsplashes are also reflective, adding a polished decorative touch to kitchens. Glass mosaic tile sheets are also increasing in popularity.

Post-Holiday Tips To Get Your Home Open House Ready Again!

Rug Doctor has a hotline to tell you how to remove stains from your carpet. Image: DoneRight Realty Associates

Every year my daughter asks if she can have friends over for a holiday party. Every year I say “Sure,” and then lay down some pretty tough rules about drinking. First, I screech “No grape soda!” followed by “And no alcohol!” now that she’s in high school.
You’d do the same if you’d seen what happened when a grape beverage met a white shag rug at my friend Pat’s house a few years back.
But this year is going to be different, and it’s all thanks to Rug Doctor. The carpet cleaning company just opened a telephone hotline to deal with holiday spill-mergencies.
Whether the spill hits your rug or your sofa, the company’s trained cleaning experts will be available seven days a week from 8 a.m. to 8 p.m. CT at 1-800-Rug Doctor to tell you how to get it out.
Grape soda for everyone!
Meanwhile, if you’re going to use a rug shampoo machine to clean the carpet or upholstery before your holiday parties, handle the waste water properly by using these tips from Washington State’s Ecology Department:

• Vacuum before you wash carpets to minimize debris in the water.

• Empty wash water down a sink, toilet, bathtub, or shower drain, and never pour it down a storm drain.

• Strain the waste water before pouring it down the drain to help prevent clogs.

• Raleigh, N.C., environmental officials suggest using undiluted vinegar in your steam cleaner instead of soap and the Portland, Ore., metro government offers recipes for green carpet cleaning solutions.

Read more: http://www.houselogic.com/blog/green-cleaning/removing-carpet-stains/?nicmp=dfsocial&nichn=hlfb&niseg=20130102_carpetstain#ixzz2GwaC7g00

Home Builders Feeling Better About Market Conditions

Home builder confidence for the new, single-family home market posted its seventh consecutive month gain, reaching its highest level since May of 2006, according to the November index by the National Association of Home Builders and Wells Fargo.

"Builders are reporting increasing demand for new homes as inventories of foreclosed and distressed properties begin to shrink in markets across the country," says NAHB Chair Barry Rutenberg. "In view of the tightening supply and other improving conditions, many potential buyers who were on the fence are now motivated to move forward with a purchase in order to take advantage of today's favorable prices and interest rates."

The monthly index gauges builder perceptions of current single-family home sales, expectations for the next six months with sales, and buyer traffic.

"While our confidence gauge has yet to breach the 50 mark — at which point an equal number of builders view sales conditions as good versus poor — we have certainly made substantial progress since this time last year, when the HMI stood at 19," says NAHB Chief Economist David Crowe. "At this point, difficult appraisals and tight lending conditions for builders and buyers remain limiting factors for the burgeoning housing recovery, along with shortages of buildable lots that have begun popping up in certain markets."

Home Builders Feeling Better About Market Conditions

Mortgage Rates Fall into Record-Breaking Territory

Daily Real Estate News | Friday, November 16, 2012 

 

Fixed-rate mortgages dropped to new all-time lows this week, pushing homebuyer affordability even higher for those who can qualify.

“Fixed mortgage rates eased this week to record lows on indicators of higher consumer confidence and wholesale prices,” Frank Nothaft, Freddie Mac’s chief economist says.


The following are the national averages with mortgage rates reported by Freddie Mac for the week ending Nov. 15:

• 30-year fixed-rate mortgages: averaged a new low of 3.34 percent, with an average 0.7 point. The previous record low was 3.36 percent, set the week of Oct. 4. A year ago, 30-year rates averaged 4 percent. 
• 15-year fixed-rate mortgages: averaged a new low of 2.65 percent, with an average 0.7 point. Its previous record low was 2.66 percent, set during the week ending Oct. 18. A year ago, 15-year rates averaged 3.31 percent.
• 5-year adjustable-rate mortgages: averaged 2.74 percent, with an average 0.6 point, rising slightly from last week’s 2.73 percent average. Last year at this time, 5-year ARMs averaged 2.97 percent. 
• 1-year ARMs: averaged 2.55 percent, with an average 0.3 point, dropping from last week’s 2.59 percent average. A year ago, 1-year ARMs averaged 2.98 percent.

Mortgage Rates Fall into Record-Breaking Territory

California housing market to continue improvement; lack of inventory to hamper sales
 

LOS ANGELES (Oct. 2) – California’s housing market will continue to recover in 2013, as home sales are forecast to increase for the third consecutive year and the median price to rise for the second straight year, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2013 California Housing Market Forecast,” released today. 

The C.A.R. forecast sees sales gaining 1.3 percent next year to reach 530,000 units, up from the projected 2012 sales figure of 523,300 homes sold.  Sales in 2012 will be up 5.1 percent from the 497,900 existing, single-family homes sold in 2011.

“The market has improved moderately over the past year, and we expect that to continue into 2013,” said C.A.R. President LeFrancis Arnold.  “Sales would be even higher if inventory were less constrained in REO-dominated markets, particularly in the Central Valley and Inland Empire, where there is an extreme shortage of available homes.  Sales will be stronger in higher-priced areas, where there are more equity properties and a somewhat greater availability of homes for sale.”

“Housing affordability has never been stronger – with record-low interest rates and favorable home prices, combining to create a once-in-a-generation opportunity to buy a home in California,” said Arnold.

C.A.R.’s forecast projected growth in the U.S. Gross Domestic Product of 2.3 percent in 2013, after a gain of 2 percent in 2012.  With job growth of 1.6 percent in California, the state’s unemployment rate should decrease to 9.9 percent in 2013 from 11.7 percent in 2011 and 10.7 percent in 2012.
The average for 30-year fixed mortgage interest rates will edge up to 4 percent after six consecutive years of declines, but will still remain historically low.

The statewide median home price is forecast to increase a moderate 5.7 percent to $335,000 in 2013.  Following a decrease in 2011, the California median home price will climb a projected 10.9 percent in 2012 to $317,000.

“The housing market momentum which began earlier this year will continue into 2013,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “Pent-up demand from first-time buyers will compete with investors and all-cash offers on lower-priced properties, while multiple offers and aggressive bidding will continue to be the norm in mid- to upper-price range homes.”

“The actions of underwater homeowners will play an important role in housing inventory next year, with rising home prices inducing some to stay put and others to list and move forward,” she said.
“The wildcards for 2013 include federal, monetary and housing policies, state and local government finances, housing supply, and the actions of underwater homeowners – not to mention the strength of the overall economic recovery,” Appleton-Young continued.

Appleton-Young will present an expanded forecast Wednesday afternoon during CALIFORNIA REALTOR® EXPO 2012 (http://expo.car.org), running from Oct. 2-4 at the Anaheim Convention Center in Anaheim, Calif.  The trade show attracts nearly 6,500 attendees and is the largest state real estate trade show in the nation.

Also, don’t miss “Housing Market Trends: What’s Next for Real Estate,” during CALIFORNIA REALTOR® EXPO 2012.  C.A.R.’s Chief Economist Leslie Appleton-Young and C.A.R. Senior Economist Selma Hepp will moderate a panel of renowned experts as they discuss future market trends and front- and center issues facing the market and REALTORS® next year.  The panel is scheduled to be held Thursday, Oct. 4, from 2 p.m. – 3:30 p.m. at the Anaheim Convention Center.

2013 CALIFORNIA HOUSING FORECAST

	2008	2009	2010	2011	2012f	2013f
SFH Resales (000s)	441.8	546.9	492.3	497.9	523.3	530.0
% Change	27.3%	23.8%	-10.0%	1.1%	5.1%	1.3%
Median Price ($000s)	$348.5	$275.0	$305.0	$286.0	$317.0	$335.0
% Change	-37.8%	-21.1%	10.9%	-6.2%	10.9%	5.7%
30-Yr FRM	6.0%	5.1%	4.7%	4.5%	3.8%	4.0%
1-Yr ARM	5.2%	4.7%	3.5%	3.0%	2.8%	2.8%

f = forecast

Leading the way...® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with more than 155,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

Two-Thirds of Buyers OK With Haunted Houses

Daily Real Estate News | Wednesday, October 31, 2012 

 

Does the carefully staged furniture in your new listing move around between showings? Do strange thumps and moans come from nowhere? Good news: Today's buyers seem to be OK with that.
Financial news site The Street reports that only 35 percent of the 1,910 people responding to a REALTOR.com poll said they would avoid a haunted house.

There's a catch for the remaining 65 percent, though: ABout half of the people who said they'd consider buying wanted a discount of between 1 percent and 30 percent. Another 36 percent said they'd expect an even higher discount.

The poll found a number of spooky deal breakers: 65 percent would pass on a house that had strange voices, 64 percent would dodge a house with levitating objects, 59 percent would skip a house with visible ghosts, and 52 percent would rather avoid a house with unexplained noises, such as footsteps or slamming doors.

"It's really interesting that so many people would be into purchasing a home even if it was rumored to be haunted," The Street quotes REALTOR.com's Lexie Puckett. "Essentially, more people were open to the idea than not."

Florida-based practitioner Eric Martell says it's tough to pinpoint "what kind of damage a spirit does to a house's value. I don't think any appraiser on the planet can answer that and say, 'Well, I always discount [haunted houses] by 10%.'"

Source: "Haunted House? 65% Might Still Buy," The Street (10/31/2012)

Two-Thirds of Buyers OK With Haunted Houses

VA Guarantees 20 Million Loans and Counting

Daily Real Estate News | Tuesday, October 30, 2012 

 

The Department of Veterans Affairs announced it has reached a major milestone: It has guaranteed 20 million home loans since launching its loan program in 1944.

“The 20 millionth VA home loan is a major milestone and is a testament to VA’s commitment to support and enhance the lives of Veterans, Service members, their families and survivors,” says Allison A. Hickey, VA’s undersecretary for Benefits. “As a result of their service and sacrifice, as a group, they prove to be disciplined, reliable, and honorable—traits that are ideal for this kind of national investment.”

VA loans, which tend to boast low financing costs for home ownership, are available for eligible veterans, servicemembers, and surviving spouses.

The VA program has continued to grow, particularly in the last five years, due to its low interest rates. Loans for purchases have jumped 71 percent and loans for refinancings are up 20 times in that period.
The Department of Veterans Affairs boasts the lowest foreclosure rate for the past 17 quarters. It also has had the lowest delinquency rate for the past 14 quarters on its loans, according to the Mortgage Bankers Association.

Source: The Department of Veterans Affairs

VA Guarantees 20 Million Loans and Counting