Future Home Values: Where Do The Experts Think They Are Headed?

 

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Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey:

Home values will appreciate by 3.7% over the course of 2016, 3.3% in 2017 and 3.2% in the next two years, and finally 3.1% in 2020 (as shown below). That means the average annual  appreciation will be 3.3% over the next 5 years. ImageProxy-1.mvc.jpeg

The prediction for cumulative appreciation slowed slightly from 21.6% to 17.7% by 2020. The experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 10.9%.

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Bottom Line

Individual opinions make headlines. But I believe the survey is a fairer depiction of future values.

Thou Shalt Not Covet

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I’m not prone to envying people for material things. But if I was…I would want a ginormous closet like this. A glamourous place to hang a chandelier, have a zillion drawers and organize my bags and shoes so I don’t have to dive into the bottom of my closet to find things.

It would look just like this all pink and pretty and with the white dog. For the record I have the dog already…I just need the closet.

#closetLove #closetEnvy #sigh

Homeownership Finally Makes Political Debate

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I steer clear of talking politics and religion with even the best of friends. But, I think this is a factual and informative perspective.

Finally, the issue of homeownership has become a platform talking point in this year’s presidential debate. Yesterday, one of the candidates running for President spoke out about the importance of homeownership in America. One candidate remarked:

“Homeownership is about more than just owning a home. It is about putting roots down in a community with better schools, safer streets and good jobs. And it is about building wealth, as homeowners build equity in their home one mortgage payment at a time…We must make sure that everyone has a fair shot at homeownership.”

This post isn’t political!

It doesn’t matter who said it first. It doesn’t matter the political party. What matters is that EVERY candidate for our country’s highest office realizes the important role homeownership plays in the development of our nation. The fact that homeownership was finally brought to the forefront of the debate is great news – no matter which way you lean politically.

Pop of Pink

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There is one thing I turn to as my “never fail” color and that is Pink! A pop of pink in any house is like pouring out a welcome mat for family and friends.

The color pink is happy, wild, cheerful, gay, sweet, and magnificent when used with neutrals. Find a spot, any spot, in your home and throw up a little pink.

Even nature likes to toss in some hot pink to mix it up with this happy color.

Here Comes The Sun

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 Why you should apply for a loan on a sunny day. Fun Fact:

A new study reveals an unusual correlation between the weather and mortgage approvals. Cleveland Fed researchers scoured data from the National Oceanic and Atmospheric Administration from more than 2,000 U.S. counties from 1998 to 2010 for the study.

The study suggests a positive sentiment emerges in sunny weather, which leads to higher credit approvals. On the other hand, rainy days make lenders tighter with the credit.

The sun doesn’t appear to fire up applications much, but researchers say the percentages are noteworthy. “Sunny sentiment” was found to boost credit application approvals by 0.80 percent. On overcast days, however, approvals dropped by 1.41 percent, the study found.

Not sure if this is true but I would go your loan application on a sunny day! Like the song says: “It’s going to be a bright, bright, sunshiny day.”

Information courtesy of REALTOR.com