Real Estate Today 4-30-17

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Sunday, April 30th
01:17:11

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This it's real estate today. The number one real estate show on. On the radio. Welcome to real estate today. Back by the professional experience of real tours from across America we are your most trusted source on the radio. For up to date realistic information. Realistic today as the official radio program of the national association of real tools and Israel were members in your neighborhood. Hi there I'm Stephen gaffes great and I'm glad you could join us today for a very special show to make it. It's the grand finale of our spring market series walking you through every step of the purchase and sale of a house. And today the deal is done the moving van has pulled away and were talking about how to make this brand new. It was all about you. From the paint to the yard to the Smart home tack top experts will help you make it your own. That's all coming right up but first. Let's go to the realistic to the newsroom with Bill Thompson and now has some great housing news source today. I don't Stephen. New home sales and America's soared five point 8% in March the government says it's the best showing an eight month and the second strongest since early 2008. The report from the Commerce Department shows new home sales rose to a seasonally adjusted annual rate of 621000. The median new home sale price in March. Was 3151000. Dollars up seven and a half percent from February. Demand continues to outstrip supply of homes and that could put a real damper on what is typically the peak of the season. Read in chief economist Neil Richardson told CNBC. Easily the market peaks in about June or July we don't think we're gonna see it peak there there's just not enough listings this level of sales we saw and read then market to about. The largest metro area and a sales are up 9% in March that is unsustainable and inventories dropping 13%. Year over year for the past two months. Richardson is hopeful however that the slowdown will be temporary as more listings come on the market. The question about the lack of homes for sale is why aren't people going in its April market outlook Freddie Mac presents two likely reasons. One is that homeowners are reluctant to put their homes on the market fearing they won't be able to find another home to body. The second scenario is the homeowner who bought or refinanced when mortgage rates were lower and who may now be reluctant to buy since rates have gone up. Either way Freddie Mac chief economist Sean the caddie cautions that quote. If inventory continues to remain tight home sales will likely decline from the 2016 bubbles. Coming up and half an hour how mover and lift are changing real straight. But you. Thanks bill. And here it comes to tax reform. This past week we all got a good look at the plan to completely change the united states tax code. The blueprint as it's called would simplify paying taxes but the big question in real estate circles there's. What will the blueprint mean to housing. Let's talk about that now would Joseph Schlesinger the award winning business analyst for CBS news. Jill is also the host of the national radio show Jill on money and the new personal finance podcast better off with Jill Schlesinger. Joseph welcome to realistic today and it's great to be radio. We're so glad your here Sergio the name of your podcast is better off with Joseph Schlesinger and that's a great place to start. Will Americans be better off if the new tax blueprint goes into effect. Sent depends who you are and I know this isn't terribly confusing so I am I should walk through some of it but. You know there are certain things that feel like okayed dodged a bullet and the first is that the mortgage interest deduction is preserved so in terms of Hal a homeowner feels army should be breathing a sigh of relief because that does not appear to be on the table. Now bear what that is on the table that absolutely does impact some Americans. Is the deductibility. Of state and local taxes. Meridor and as a financial advisor a hundred years ago. It was it was interesting because some of what you would need to have someone say well. Should I live in this place this this neighborhood with a really good school but really high taxes. And I would to you notice those taxes are deductible. And if there are no longer deductible. It's might be interesting to see how specific areas could actually be impact and that to me is going to be something to see. And of course this is the opening bid at this is not what we're going to end up with so. If need be that when those sausage making is complete bite your friends in the congress that. This is not even like close to what it began mats. If I am a homeowner in the United States and it. The blueprint as we see it actually becomes the law of the land and I would be able. To deduct the mortgage interest on my house correct I would not be able to deduct the property taxes on my house right now as state and local taxes and how about the capital gains exemption at the time of sale a little. Little tune. I don't know here's what happened. In the blueprint there where is AE the one thing they said about capital gains was that. They remembered there is that Affordable Care Act surcharge that was put on your capital gains it was three point 8% extra so at tacked on to the top was 23 point eight. So if that were to be repealed. And you had a long term capital gain that was. Over the exemption amount re at right to fiftieth person or 500 a couple then you would pay a lower tax now that said. Big. Did not enough information underneath some of these broad concepts that we can really make a determination about. I see what you know we always come to you with one main question whether or talking interest rates or housing sales or inventory. And that is if I'm a homeowner in the United States are about to buy a home. Should I be worried. That. Everyone take a deep breath I'm kind of and it and just the homeless according to get deep yoga breath together ever went to go into your nose at three about Freddie want to take. Okay. This is a blueprint this is not law. Don't get yourself all nutty over something that is not yet happened. If you're a homeowner. And you are used to deducting your mortgage interest you probably continue to be able to do so. If you were a homeowner inning high tax state like a place like New York or California. This could change but how long way to go before we figure out whether or not that's gonna happen and don't forget. If you are in one of those high tax states paying your big earner. What you lose nine year state and local tax deductions you may gain by having your rate go down or you may gain. By not paying the AMT the Alternative Minimum Tax so. I hesitate to get you all riled up right now with this or you can you know thank our friends in DC when we don't need to get too riled up because. We don't know what there is going on. Most people who own homes. Are probably not going to add that that deductibility of state and local taxes is not in a mean the difference and you wanted to be an owner or renter. If you ordeal and home the difference is that if you are rector right now in your looking to buy Ike. You have a little bit more and you may have a little bit more information and clarity about what those costs and what net net the cost of caring your home could be into the future. Joseph thank you so much for walking us through the new tax blueprint and thanks for all your perspectives on. Thank you have a great day you too Joseph Schlesinger the award winning business analyst for CBS news. The host of the national radio show Jill on money ended. The new personal finance podcast better off with Jill Schlesinger. Coming up unrealistic today. Is there hidden treasure in the house you just. Both had a lot to spark great old pictures. French doors that they didn't want to separate delivering the general. That's next on our special show and make it your home. Real estate today. Connecting you with the real estate professionals. Every week. And we're back with our special show make it your phone. All about you and this wonderful place you call home. You know buying a house is a lot like buying a blank canvas you can do anything you like with paint flooring appliances lighting. And every one of those choices add up and make that house reflect you and who you our. But for many people who buy older homes the best and most amazing way to make that your own. Often involves a little detective work because older homes can have hidden treasure right behind the walls. Let's talk about that now with someone who has seen his client discover the hidden treasure in the homes they about it. Joining us is Steven Antonio realtor with Martin Chase Sotheby's international realty in Providence, Rhode Island. Even has been and realistic for more than twenty years and he's the past president. Of the Rhode Island association of real torch Stephen welcome to realistic today. I'm great we're glad you're here so Steven can you give us a couple of examples. Of people who have moved into an older home. And who discover hidden treasure. Yet I don't even think about that at sold this house that. To meet you know it was probably 304050 year old house put in buried buried very patient. You would walk in this out a while and think Eric this has been great shape well. They get in they wanted to make their signature on the house here they eat they pulled up the carpeting and this is where they found beautiful. Hardwood floors with people people in laced earning every quarter how's it ol' block. People bought some old paneling that was at that dining room was actually paint it. And as they investigated it was excellent panel and beat all the panel and up and it was raised panel bull being. I believe it was black walnut eappen on this on this wall. And they were they were suppressed and why would anyone. Operatives stop. You know somebody wanted a white dining room. And thankfully instead of keeping this reais candle molding they put up up a flat. Paneling no Britain painted that Brit I walked in and don't suspect that much money beat sink in this out they go eight all the stops we're here. It was in great condition that the opera that was the outside the house had eighty. Dispatched this shingles. Which you don't know that was popular first generation of upside it. I would. And they pulled off. He or they had these dispensed this tiles were boom and it was just beautiful clap or its leader ordered to keep that there was. In perfect condition so. What might pull up to go to the house so what Mike I hated it and their collective intellect and record artwork or it didn't make it all of those balls up. And it really will air hiding. We could be discovered by the new waters. Stephen we've talked before and you mentioned that when you go into a house says older. There's really a process of discovery involved as you make it Euro can you tell us about that. Well I I just sold out on the east Providence about two months ago. And all the notes can be beat. That previous owners can be older and art and soul out for. It at church and well. We didn't. An older house they could want at the end which some of the spot so. There was actually act stairway Beckham needs stairway into the kitchen. And they put up some cabinet they're both less despair wait intact behind the app that. Oh lord you hope the new owners were spared stink she's in August looks like it should have been a stairway air. And with some investigated and found spirits were still there. They keel bought flooring upstairs to bring this that we equity at the bottom the spirit of wall and it turned out it was the back of the cap that so they pulled the cabinet off. And they should just crane. But it's great to have this needs their eight and it was there the whole time but when we look the palace you know. And sometimes you planned impeachment to an older house that had the should Stearns. You know hiding in the basement to collect water. When you don't win bombing and wells and sewer systems or water systems were eventually installed in the counts he used just wall. In part of that should stern in the basement. Know people would discover more than a year later and it would be a great wine cellar. It would be a great. It'll play area for the kids or the man needs the famous mean. So here's the big questions Steve what advice would you give our listeners then who are moving into an older house should day. Explore. Definitely explore. One of the other rate unchanged we have especially here in new England and that some of these all or Colmes and great neighborhoods. Is WB doorway between public sale living room of the dining room. And app. After some investigation may be the doing some painting were repairing. They find out there's hidden pocket doors inside the the wall wow that eat at the previous owners may be didn't know about out or. You know perhaps a century earlier somebody's head you know towards her pain let's just piece of old thinks that she does so little Britain archway. But I think they're a really great heart. Even if you are on our rule keep going my friend. Oh yeah the other the other area to invest it also gathered. On finished attic and nobody wants to go in but it's a great opportunity when the old inspectors being careful inspection it will climb up there. And then you can say to them 88 in an apparent it'll boxers or any. You know and a lot of country like great bowl pictures. French doors that they want separate in the living room dining room. There are still perfectly intact and just got thrown up in the attic to your old nobody ever went up. Amazing hidden treasure right there in your own home. Steve thank you so much for joining yesterday. Always great talking to you Stephen and Tony real tour with Martin. In the past president of the Rhode Island association. Of real tours. Coming up unrealistic today. Your new home down on the far. I kind of thought when I first went into this and it's gonna be all about the food is arming. But one thing that really stood out to me if I ever would I spoke to is that it's more about the community that rose up around that commitments. Especially local food. That's coming up on our special show make it your hope. But first it's time for our Smart home technology report. And today a special look at how today's digital lifestyle. Is changing the American home and helping home sellers all across the country. Now let's begin by re winding that tape may be tenor twenty years. If you're like many people across America you like you were home entertainment. We all enjoy listening to music watching a movie or catching our favorite TV show. For many of us it all began by playing record when we were kids and overtime your collection of record albums group. Some people had thousands and soon. Along came eight tracks and cassette filled with the music we love. So how many did you have a handful. Or maybe your closet full. Hot on the heels of music of course came up video. Videotape. Some of them were home movies others were big cinematic hits but again our collection group. And of course record albums eight tracks cassettes and videotapes were all analogue and all of them would soon take a backseat to digital. CD's led that charge. As the LP records faded and then came movies on dvd and Blu-ray and again yes the collections. Group. Many people dedicated entire bookshelves to their physical media as its coal which is all willing good part. What's the first thing a realistic approach tells you to do when you sell your house. Deep clutter get rid of the stacks of stuff that we might like but that potential buyers won't. And for many sellers the factors that collection of physical media. Had to ago. An article in time magazine referenced that saying quote. As consumers increasingly look to streamline their living room dvd players and collections. Have been deemed too big to keep around and quote. Problem will not and today's digital world because music TV shows movies anything. Can now be streamed straight to your entertainment center without any physical media taking up space. As I mentioned that represents a big change in the American home and it's a big plus for people selling their homes. It allows you to create a cleaner more inviting space for potential buyers and still. Have the entertainment you want not sure it's just a little bit sad to think of all those wonderful collections to appearing. But remember. They'll probably just end weapons storage plus look at the bright side this time magazine wrote quote streaming services don't scratch skip. Or war after less than a cost of a movie consumers get a much larger library to choose from and quote. And that's a Smart addition. To today's Smart home. Real estate today because knowledge is power. We're back now where their special show mixture of all about that brand new accounts and you. How to make it show exactly the way you wanted to. Using your unique sense of style and your personal interest to make it reflects your personnel. Straight ahead one of the hottest trends in America. Living adjacent. To a working farm. Act Romans we'll have that's. Make your own is straight ahead but first let's check in with bill tosses. And the real estate today knew her I don't I Stephen. Hoover and lift a totally disrupted and remade the taxicab industry and now there's evidence they are changing the real estate market at least in New York City. Real estate agent Ryan sir handled star of the TV show million dollar listing New York. Tell the street that the ride sharing services are actually helping the housing market in Brooklyn on the outer boroughs. More than anything for the interest rates more than a trump rallied more than anything transportation at your doorstep. Through your phone is what's pushed outer Borough real estate to new heights in the last two years. Sir it's as the availability of easy transportation is encouraging people to move farther away from super expensive Manhattan. Knowing they can easily get to work in Manhattan using car service apps. While it sometimes seems like everyone's attention is on millennial and when they're going to enter the market and big way. The someone else who's taking the ball and running toward the goal line generation acts. Those between 37 and 51 of the ones really driving the housing market right now according to data from the national association a real first. John excerpts make up the second largest share of homebuyers more than one out of four last year. And the and they are figures showed gen X is buying the largest most expensive homes compared to other age groups. The largest share of sellers are also Jenna actors selling homes on the median price of 240000. Dollars. Coming up and half an hour does a college degree help you become a holder. Stephen back to you. Thanks bill. Now back in the day we all heard mr. Rogers saying it's a beautiful day in the neighborhood. But these days more and more Americans might as well be singing. It's a beautiful day in the agro hood that's right agricultural. Neighborhoods. In which homes are built kind of inner circle. Around a working farm. It's trending all over the country and can you even imagine how good the food is wind farm to table is literally. Across your backyard. Let's talk about Viagra hoods now with Meg White managing editor of real tore magazine and realtor magazine on life meg welcome to real estate today. Much I'm glad you're here so meg. I know you've been doing a lot of research into Bagram goods for real for magazine so first to ball. Is this really happening all across the country. Absolutely is you know there's these big housing development. In places that different and far flung of that land and Arizona and Illinois. And you know we're seeing this trend actually appear in urban and rural and suburban areas so. It really it's one of those trends that potentially is chilling no bound. We'll make people who buy homes in these communities. Why why do they buy homes and an aggregate. You know it intriguing I I kind of thought when they first went into that and it's gonna be all about the food and arming. But one that really stood out to me is that everyone I spoke to said it's more about the community Dick curled up around that commitment cute especially local food. You know if you think about it. So many wonderful interpersonal things happen around food it's this natural social stimulant that just brings people together in a way that. I really think our society's been yearning for for awhile now. And it does so institute copper is way. And in a way that amenities breakage you know Mort something like that just can't do. One of the farmers take part cute that it gives development patrol which was that sentiment that I just love. This is fascinating choke. How does it work. Well it depends a lot I mean it it it day each community can decide how they want to. Q and rolled it out and a lot of it is in the hands of developers are obviously. In terms of finding it though there can be a lot of variation as well. In these residential development which tend to be the ones in the suburban and rural housing complexes. You know they'll be organized around a working arms and homeowners association actually made fun. Most of access to the fresh food in other developments you'll have working farms where. There might be little or no subsidizing of the farm because people are paying. Fair market prices for the food like amnesty if they get in community supported agriculture. Still other firms might be my work as educational resource that's for training new farmers believe it or not. So that's another kind of funding model that you might see. That's why it's really important for anyone who's looking to buy into an Akron hood but they have are real estate professional who really understand the funding mechanism of Howell works. And also went back home and his association hasn't reserves at how well capitalized status. And you know I can only imagine meg how good did the food is when you literally harvested outback. And within an hour two is on the table. Absolutely you know I wished that I had a group of farmers and helping me out what my backyard it's. I'm about to get started and would planting an endowment actually tried all of my seedlings so I've gathered. Go to the doesn't gardening store and start ovarian. Yeah I would be nice to have a little bit of professional help in that arena and a little jealous there. How can our listeners learn more about aggregated in America. Well you know you can we've actually created a short link they can type directly into your browser it would just be real cure them of dot PG. Flash Acker it. And that'll take you directly to their story and a bunch of really cool photos but I've gotten from some of the folks that I've spoken with he can get Canada a firsthand feel what it likes to be in the. Arab will make I certainly do appreciate you coming on the show and talking about. Agro hoods across America thank you absolutely my Meg White managing editor of real tore magazine and real true magazine on line. Coming up on realistic today staying safe. From fire many people just don't know half. How to make your home paid it off the ball that's next on our special show make it your own. This segment of real estate to game is brought to you like he'd have fired eight. The nations of ED IC yeah. Technology that saves lives. To get a. And we're back with our special show make it your own. All about how to make that brand new plates just moved into reflect you and your interest. Your needs and your unique sense of style. Here's a question for you when you move into a house what's the first thing you do. Paint re finished the floors. About changing the locks. Well that's all great but there's something else that takes priority. Something so important you really should do it first before anything else. And that is making sure the home is safe and protected. From fire. And that means making sure you have smoke alarms and fire extinguishers all throughout the house and making sure every one of them is working perfectly. Let's talk now about before steps you can take to help make your home buyers date. Joining us now are sharing currency with Kindle fire safety sharing welcome to realistic today. We're delighted you're here. So Sharon kid off fighter safety has developed a four step process for making sure you were home is safe. Tell me why did you develop this quick start guide. It hit that aired the nation leader and fired HD. But we understand that many people just don't know how. How can make their home safe and comfortable. We decided how. I developing ample EG four get thinking plan that we believe will help stabilize all across America. And that's one thing they can't believe it and technology. At saint side. You know that's a really important point because a lot of people who want to make their house fire safe. They just don't know where to start but let's look at your four point list sharing and tell people what every single step involved number one. Install smoke alarms. Then try installing medical armed well shaped your life data out that each and make. He's at times greater chance at age to eighteen at fire with the medical. Try to really important for hand Bernard ignorant and it like that Al were not every more. Ian Holloway. An inside of pandering and low and outside all sleeping here. You've gotten that many people don't realize that. I've got armed like every other Marines and your Harold hammer next great eight. They have a life of about ten years and it really important to her place in every ten years been out and they carried out in weekly to make sure they're still. Let's really interesting sure now tell us about the ten year alarms. The batteries are good for ten years an entire decade. Here are eaten it and here's why they organ that should everybody included right ear hair and a flea bitten. Certainly hear that you're no marine layer of battery her army medical rock. And then you're like I'm way in trying to get the alarm to not eat being in Linden pioneered and frustrating black. They're admitted now because we developed a worry free lot behind a man looking car and not at a armed with a built in battery that class in years. This eliminating led battery her until it time to replace the alarm. And it ain't pretty even import Jeanette went on airplanes because they endured eight not. You know and it takes all the guesswork out of smoke alarms now let's look next sharing that step number two to Bahrain. Fire extinguishers tell us about. Tire extremely your dark Turkey day. Number one they are designed to cut out small tires. Number Q they're designed to create packed rigueur in case of a large hot air or unique escaped your. And they turned it. Every lab work your whole cash and make sure they're near your exit and particularly. Anywhere where buyer may star apply your kids or. A garage. And also at these cabinet freaking day replace them every ten to twelve years or after he. Was sure I have to tell you I have fire extinguishers in my home and my rental properties as well and it always half so that's great. Advice no assurance step three is to install carbon monoxide detectors. He oh tell us about that. Carbon monoxide is an end. It can be in your home that you don't push it very important you install carbon monoxide alarm. One on every floor and near the entry. That's really helpful no assurance finally let's move onto step four in keeping you were home and your family safe from fire. Developing a fire escape plan. Yes can developing a fired eight plane an absolutely critical help gambling or powdery. Eight the alarm to Kandahar or tire out. Particularly. When you're eight planned net you way to get out 81 egg pass block. And cracked this makes her. Practiced regularly banner day and not make sure you have it back out now how to. In here fanatic anger at times people forget for a tiered greens any thing that ever to disperse lower. Sure you have an eight latter today eat safely exit the bill. We're sharing and that is great advice and I hope it helps everyone stays safe. In their home thank you for joining us on realistic today. Yeah. Sharing could lead with Kidde fire safety on the four step process to making your home fighters. Coming up unrealistic today the seller hands you the keys to your new house but. Who else has. That's next on our special show make it your poll. If you're hungry for real estate information follow real estate today on Twitter. Shares segments listened to them again. And be the first to know what's on next week show just search real estate today on Twitter. This is a real estate today. Location. Location. And information. We're back now and our special show make it your own. All about what you can do to make the brand new house you just bought reflect you and your own personality. Now as we wrap up this hour we're going to take a look at something many people forget about when they buy a house. Suggest consider this as a reminder that the day you move into your new house whether it's a Condo or townhouse or a single family home. You really need to change the locks. It's not that hard it doesn't take that more and it's not that expensive but it's a really important thing to do. No sure when you were all done at the settlement table and the transaction ended in success. The seller handed you the keys to the house in May be a garage door opener and maybe the codes to the security system. That's excellent and it's a good start. But again you'd be very Smart to take that bunch of keys the openers and the code. And change every one of them as soon as you have a chance. It's just common sense. Because over the years that seller could have lent arrow keys to who knows who. Anybody could have a key to the place that is now your house. And that's really not safe. So yes you definitely want to change the locks call us certified locksmith and if you don't know one chances are your realtor dot. Tell them you wanna change all the locks in the house the front door the back door the side entrance. Even a sliding glass store out of the party. All of them. In most cases the locksmith can just read keep the locks so you won't have to buy new dead bolts in new door handles. He usually just gets in side the lock and changes so the old keys don't work but the new Wednesday. Now when it comes to the garage door you can probably reprogrammed back yourself if it's a relatively new high tech garage door opener. The dollar might have left Judy instruction manual when they moved out and if so. That should have the instructions on how to reprogram the door worst case scenario you might have to get the people who installed it to help. But in most cases again you can do that yourself. Pressure is less likely that the seller handed out garage door openers to anyone but you never now. And the garage were not only have your car and other important things inside. It's also a passage into your house. So make sure that's safe by reprogramming. The garage door opener. And the same goes for your security system you'll be calling those people anyway to tell them you're the new owner. So when you do ask them to walk you through the process of re coding the security system. Again most people won't know the code because the dollar probably didn't give it out but if that did happen once you change that you'll never have to worry about it. And finally I know you'll be really really busy moving into a new house in you might not have a lot of time to meet the locksmith. But don't forget you don't have to be there. The locksmith can do all the work and leave you a set of keys under the doormat in a flower pot anywhere you say. They can get in and do the job because after roll hero locksmith. Again this is just a reminder to help keep you and your family safe in this wonderful new house as you move in and make it your. If you like to hear mow the realistic today's special show making your own. Peter stay tuned we're joined us online radio got real tour. And from all of us here are realistic today thank you for listening. If you're realtor you can put the entire real CTV show on your web site. The best we'll be shown on the Radio One 100% free each and they are members. Just go to our new web address radio dot realtor and click. How realtors. This it's real estate today. The number one real estate show on the radio. Welcome back to realistic today. Back for the professional experience of real source from across America where your most trusted source on the radio for help today realistic information. Real estate today is the official radio program of the National Association of Realtors. And Israel for members in your neighborhood. Hi again I'm Stephen gas quake and I'm delighted your witness today as we walk you through all the ways you can make it your own. The final part of our spring market series walking you through every step in the realistic process and today. Your finally in that brand new accounts and will help you make you reflect your tastes your interests and you're. Make it your own is coming right up. But first let's go to the realistic to me newsroom with Bill Thompson. Most economists expect mortgage interest rates to rise gradually this year. According to data analyzed by core logic as interest rates rise people tend to stay in their homes longer and that may exacerbate the housing inventory crisis. Frank notre core logic chief economist says there is a definite correlation between interest rate changes and older mobility. When rates have moved lower one quarter of owners had me sold their home within five years. The one race had moved higher it took about one year longer before 14 of the owners have we so. This suggests that the forced sale inventory or make continue to remain lean for the foreseeable future adding upward pressure to home price growth. No tough says history suggests that rising mortgage rates may translate into 100000. Fewer home sales a year for perhaps the next five years. It seems like few ideas can win true bipartisan support on Capitol Hill these days but one that Canas flood insurance. The National Flood Insurance Program is going to expire in September. But a new survey by the pew charitable trust funds that several proposals have strong bipartisan support in congress. The National Association of Realtors was working closely with lawmakers and federal regulators. To shore up and renew the program. Homebuilders consistently identify a shortage of skilled labor has one of the main reasons they can't build homes fast enough to meet demand. A recent national poll of young adults by the national association of homebuilders revealed that. While a large majority of those ages eighteen to 25 say they know what they wanted to do for a living only 3% of them say they want a career in the construction trades. Among the 3% 80% said there are attracted to the good pay while 74% said they wanted to attain useful skill. And about a third like the idea that a career and construction. Does not require a college degree. Now earning a bachelor's degree may make you more likely to be a homeowner by age thirty according to a new study. The Federal Reserve Bank of New York study found that those with a bachelor's degree or higher are more likely than those without a degree to all home by thirty. According to the study the level of student loan debt doesn't seem to matter. Earlier studies have suggested that a big student loan burden does impact homeownership rates. Blog post in the findings from liberty street economics so his past three search quote. Has not been able to disentangle how different types of educational attainment and student debt. Indirect to impact the likelihood of owning a home. Moving houses. Physically changing home's location is becoming more common place along the nation's coastlines as erosion threatens Seoul's homes. It's also affecting homeowners on large lakes and rivers as climate change results and rising sea levels according to scientist quoted by REALTOR.com. Recently singer Paul Simon have a one story cottage in the Hamptons lifted off its foundation and moved about eighty feet in Poland away from a steep bluff. In order to prevent it from. Well slip sliding away. Coming up on half an hour the return of the outlook kitchen. She didn't like you thanks bill. And we have the latest information on contract signings for you today. The National Association of Realtors reports that in March pending home sales slipped slightly compared to February. Noise you know pending home sales represent contracts that have been signed but which have not yet gone to closing. Joining us now with the latest pending home sales report is Daniel hale the managing director of housing research at the national association of real torched. Danielle welcome to realistic today. And we'll Danielle. The numbers slipped a little bit in March so what caused that drop. He had no pending home sales are down slightly from February to march down about zero point 8% to let someone protect. They're still pretty high level and so there's still a healthy amount of activity in the market but. How to market lacked a bit of momentum. We know that we have seen limited inventory for quite some time that we think. That this month plummeted into Torre made it difficult for her potential buyers despite a property damage right from baton and make our earth. That's interesting because as we know all across the country. There aren't enough homes for sale for all the buyers out there are so. A lot of people could have been out they're trying but other buyers were beating them to them how they want it. No we don't forget it I realtors confidence index last month. That homed in March came off the market much faster than they did in February or even from a year ago march so. We know that. Operator moving fast we also note that 42% of homes sold outer above the list price which. It's highly suggestive of multiple offers a lot of competition for buyers so we know it's a tough market. I got there required that could edit or could step. That's interesting now Danielle. How did the pending home sales in March due this year. Compared to say one year ago. The great question the deep end folks imagine they're still pretty healthy level of activity. And one reading we can say that is because pending home sales which are based on contract signings. Are higher in March 2070 and then they Wear in March 20 to compete they're at your 20% from a year ago at a national level. And there's a mixed performance regionally. But on the whole across the US their opt your pretty. So based on everything you're telling us that sounds to me like if people want to buy a house in today's market. They've got to be ready they have to be decisive. And working with their real chore they have to be really fast. Update at ten under our great plains game very quick. Knowing what you want and making sure that when you see it you jump on it before someone else does so there are key factors very successful buyer in the market. And you know I hear this on the show a lot from real tours but there's that great old saying that if you wanna sleep opponent. Someone else is obviously been in it. Very appropriated. Cash but really it is. So Danielle. Let's take a virtual tour around the United States how to be different parts of the country do in pending home sales this past march. Chart we'll start out laughed where we. The weakest performance this month panic on pills but two point 9%. Compared to you last month there are also down two point 7%. We are down so. Collected a region we know has struggled with limited inventory that we eat out and the contract signings in March. We Newton a sound from there that much better picture. Technical skills are up one point 2% from last month. Up three point 9% from a year ago so desktop as a region that has the strongest. Increasing contract signings in March 2070. And into the midwest and more moderate apartment at platelets from last month to one point 2% to. And contract adding to the midlands are down 2.4 percent from a year ago. The lead at northeastern. End mixed performance contract earnings are down two point 9% from last month but are still higher than what year ago I want any part of that too. Well that's very interesting day and don't know a quick question to wrap it all look we've talked a lot today about buyers. About how they have did jump into the market be decisive and act if they find out how they want but what the numbers like this mean two. Dollars. Yeah I think you we know that if homes served well located in good condition and penetrate well the move very quickly so. It not an act that selling part of home sales process that'll be pretty easy. I remember most sellers are also. Buyers they don't. Calendar site to go granted that made Baghdad. Ballot there's been put their kids they can be close to their grandkids there's something like bad but more often than not they're selling and then finding another holiday can live and show. The buyer guide is as applicable to the SLA. And admitted to the buyers and maybe they should focus more on the buying part of their can't back and the best selling part should take care of itself pretty easily in the market. That's a really really accurate observation Daniel that's as good to think about so. Finally Danielle. What do you think house 2017 shaping up really be okay. Yeah I think you know the data has come and much more positively than we expected in the first part of the year second attempt or not. Well for the rest of the year are we are expecting. I'll tell us to be out around three and a half percentage in 2017 not a little higher than what we expected. Before we started the air but it did and they didn't. We adjust accordingly. Excellent well Daniel I sure do appreciate you coming on the show and talking about the latest pending home sales report from and they are. You're very welcome Daniel hailed a managing director of housing research at the national association of real sports. Coming up for unrealistic today what's your dream home. House on a lot for eight custom do. I think most people see is brand new because they love the idea of being the first person in power. And kitty thank all of the legendary team shiny new and exactly what they want. That's next on our special show and make it your own. Real estate today. Connecting you with the real estate professionals. Every week. We are back with our special show may keep your phone all about that brand new house and you. You know most people buy homes from other folks there when they do they have to decide whether to keep what's there or change things around. But you know who doesn't have to do there. People who buy brand new home. In many cases they choose every finish every color. Every window every light fixture lots of decisions but also lots of fun. Let's talk about custom houses now with a pro. Joining us is Christine Richardson real short with weicker real tours in Great Falls Virginia. Christine is a real estate pros specializing in new home she's also the secretary treasurer of the Northern Virginia association. Of real torch. Christine welcome to real estate today. I now let's go to the very very first conversation. That someone has with their family. And I imagine their first decision is do we buy a brand new home. That's already there. War do we go from 100%. Cost them from the very beginning. Where there's nothing on the lot in every piece of wood. Every window every brick. Is exactly what we want how people make that decision. Canada great question a lot of times they start by looking at builder model homes and to get to think I want a new hopes so they start with that cracks that. And then only once they start to think passion I knew exactly what I'm looking at church today than say we don't regret a look at the custom. I had some clients last year it did exactly that we looked at lots to remodel on it looked at lots of its reach ships and we just we're finding exactly what they were looking torched. And their case they were looking for something pretty hectic because they really needed a house at met all of that on weight. Such and so that was very important to them matched and so we. Finally decided that maybe what we needed to do was just black and tilts and design a custom home each emancipated they got exactly what they want it. And they are absolutely ecstatic took a little longer cut almost more like your process. But you know a year later there and mouth and absolutely rock. You raise a really good point Christine so. What is the timeline. Of building a house from scratch. Compared to buying one that might be already up and on the lot. With a custom home I would say it's about a year he's kind of like you know I cannot find builder and pop match with chain. From a model home where a builder authority and got a building plans set up an average reached its more like where the six months. What about the difference in getting a mortgage in one case you can say bears the house. And the other case you have to say imagine the house how about that. Huge mistake that's Europe each. That it is a little report. Complicated your bill and whom terms stretch and he has data due to land package there's a couple of Kuwait he can do it some not some builders alike each get a market at the end like you normally it Rick a regular shout and some builders are gonna want you actually by the lack yourself. And then get our construction financing to finance the building of it so you actually own a lot. And out as it's being built and so that's a little bit of a different process it just can depend on governments can't and don't I'm happy by a lot upped our. We loved the builders they're great people they work hard they put up beautiful homes all across America brought. You know a person can just walk in in many states that could just walk into the builders office and by the house without any representation at all so maybe you could tell our listeners why should you always use a real tort if you're gonna buy or build a brand new house. I think it's even more important have a real turn involved which new construction Benitez went to resell it at some point because. They are. Again the products such as longer there's a lot more steps to it there's a lot more you being coached and to make ensure that someone's there to watch out for your interest two out entire process. Extremely important and that's not something that is gonna happen if you just walk into the model Red Hat check out a person's sitting arched in the course working to build up. You would not have anybody watch out to your interest. This is fascinating Christine. So let's end with the big question. Why do people decide to go brand new. Instead of buying a house that other people lived in before. Think most people choose Graham you know because I loved the idea of being first person in the house and getting to make August elections they're written shiny and new coached and exactly what they want and accurate that's why must people go brand new at the track it's so exciting and iron and that I mentioned Eric creative and people just love that process and it's exciting it's yet. What you get built and stop by every week and take pictures and that kind of preached it's really a lot. Excellent well Christina I really appreciate you being on realistic today and talking about. New home purchases both existing homes in custom new homes thank you. Christine Richardson with weicker realtors in Great Falls Virginia. And the secretary treasurer of the Northern Virginia association. Of real sports. Coming up on realistic and very. Save it with pink birdie I'd like to do more that. On the block and it it helped the collar look that much richer and the premier living room I would probably go with a. That's next on our special show and make your own. But first it's time for real knowledge and. A special segment on realistic today. In which we talked to a top realistic professional top industry expert journalist or analyst. And I am a tough question designed to give you a complete understanding of important issues involving realistic. And today we're talking about your credit report. End your credit score. Joining us now is a national expert on credit Jerry debt Weiler. Jerry has worked for decades educated consumer about their credit she's ahead of market education at NAFTA. Which helps consumers and business owners manage their credit. Gerri welcome to realistic today. So Jerry what does a normal good credit report looked. One normal credit report had an average about eleven different accounts reporting and a good candidate credit Greenland and the different talent. So you mentioned student loans and a lot of people are worried because they have a lot of student loan debt they can't get a mortgage. That may be true that your student loan even are affordable here a portable with and in addition to the new mortgage you're getting. Be a total amount that you can't get it does the issue is real whether he can afford to make her monthly payment and whether you're pain among tight. We'll get did not. Overall. Numbers period and didn't pardon as a granular sort of month month and now the appeal of your planning to them whether you can afford. You mortgage payment in addition to the other payment but elected on your credit report. Jury believed you told us before about something to avoid. And that is getting a credit card at the counter at a retailer. Just you can get a discount for that one purchase. Is that something you should avoid. You know I yet it you never argued that you do need very very careful about my. Certainly would not cute yes I would I don't mean I am home in the near future because back protection credit card. But the problem is sometimes consumers load up on these and Bettany and Dow dropping their credit score because of all the new accounts and their credit profile. Could not think it got worse thing in the world but it does create an inquiry your credit. Report which structured credit score a little bit into new account with it now to be a good actor. Well again you know when you're certain you're thinking about buying a home court resigning now home. You want to keep saying to people aren't getting it palpable and don't you get tired your body before you go. Go up playing with your credit because sometimes you can have opposite effect. Yep in today's world you've got to take care of your credit. Gerri thank you for being with us today. I don't think you know my pleasure. Jerry depth Weiler head of market education at naff. Which helps consumers and business owners manage their credit. This is real estate today and all real estate all the time. And we are back again where our special show naked you're. All about how to make that house of yours and reflect you what you want what you want and what you. That's right today show is all about. In this half hour we'll talk about how one of the best ways to personalize your home is also. One of the easiest. That's straight ahead on our special show make it your own but first let's check in with bill Thompson's in the realistic to think newsroom cargo Stephen. In superheated Silicon Valley where the median home price is now around a million dollars. The challenge of become actually finding a million dollar home. KP IX five TV reports that once homes hit the market themselves very quickly. Realtor Garry Shapiro tells decision that low inventories the main factor driving the frenzy. I have a sign on my desk that says the best time to byways yesterday but in general when you can afford to buy a house if you're gonna stay living in the Bay Area. You should buy a house. Shapiro says though that he believes the housing market should level off soon. The outdoor kitchen is making a comeback after falling out of favor a few years ago the latest American Institute of Architects home design trends survey. Finds that homeowners and buyers are showing renewed interest in outdoor cooking space. Kitchens have become hubs of family activity says they IA chief economist Kermit Baker. And now he says quote homeowners want to bring some of that activity to their help on space. Stephen. Thanks bill. And now one of the best ways to personalize your new home. And the good news is it's also one of the easiest and most affordable. And we're talking about the transformation that happens right away with a fresh coat of paint. But when you go pain shopping you'll see flat satin semi gloss or gloss and more. Which paint is right for which room let's find out with a pro joining us as Andrea magna color and design expert with Benjamin Moore. Andrea is a design professional who's involved in developing the same color palettes that might end up in your house. Benjamin Moore of course is among the biggest paint companies in the world. And its products have been making home beautiful 4134. Years. Andrea welcome to real estate today. So Andrea we're talking about different kinds of paint some are very match looking. Others are very shiny and others are in between. So let's go through the house and find out which paint to use in which place starting with the front the war. The front door. They typically where we had eight. Likely designed product. Or grant and track and so we have that in high gloss Sheen. And Jeanne at my lot. And that it did not view not only which can't all get our weather issues that might be be up front door. But it also going to get a relief. Pre leveling a really hard wonderful finish that's going to be perfect or front door to. The living. OK so the world is going to be a more formal state she. And you can have maybe a little bit of shock I think that's what you want or you can definitely go with something that's a little bit more. Becomes more personal preference Bernie I'd like to do a more accidents on the block and it should. Hell colored look that much richer to premiere living room I would probably go with ash. OK now let's walk into the kitchen. What do you think about that Andrea. Well there's two ways you can go to you can go with. Is it going to end up to date that you. Kitchen or you go with an egg shell which is a little bit more traditional. Finish at stake or kitchen it. At at my shine as something like it. So the bath in spot pain you were just talking about that of course would be a natural fit for the bathroom as well. Yes and it's amazing the background because it will stand up humidity. It really that technology that aren't in due. Product a particular it should specifically designed for. Water Cube that idiot that how to expect shell and and what's great about it purely that it's in. That cash cash because back. You're a year ago where they had the technology. The rule what you something like hire a lot. And don't Al we've been able to break that rule up and pat and more back ash. That's interesting story have not heard you mention it. The loss is that you'll use just for trim or not much at all. Well traditionally it is huge church trend and it night because you're able to get that contract. Need a more bad girl lower she'd let all on the walk don't it it almost. Accentuate the lied to the ground but we do see an incident where people will use higher clot on the wall but the trick kids. You have to get. Crack or dot perfectly. Where the higher clocked level talent show every imperfection. No it. If you want communicate it time and really really get a beautiful moot mood Denish and then apply but he had a higher level it can be very dry Matt. Absolutely in Beijing but. She did that is making sure that the circuit is perfectly. What Andrea weren't great advice for anyone painting their home thank you for joining us. Andrea mag no color in design expert with Benjamin Moore. Coming up unrealistic today new house in new York new law. How do you get it right then you might have heard these days a week it might wanna take care. Some parts of the country it you might have brought this problem that's next on our special show make it. Your little. This is real estate today. 100%. Real estate 100% of the time. Back again now their special show to make it your home. All about making that brand new place you just moved into reflect. You your start. Your interests and your needs. Right now we're going to take it outside and talk about making sure that you have the right law for you and your family. Party you know if you're on will be beautiful or bear after you put it to detest. Let's ask a pro. Joining us now is Ashton Ritchie was Scotts Miracle-Gro. The nation's leading lawn and garden care company. Ashton welcomed to realistic today. To talk to you to know fashion people might not know that there are. Different kinds of loans. So let's talk about how to get the best law impossible when we moved in to a new house starting with where we live. Crashed in what kinds of lawns do best. In the different climate across America. We typically refer to lines says he's the cool season lawns are warm seat on law and still want to have long ago when this optical c.s and launched on the north. I take it sometimes that can get kind of complicated. So that way I would suggest folks try to figure this out. He did he go to Scotts dot com. You can click on a section of the web site called my lawn care plan. And we ask people use zip code and then we can tell you what your lawn care plan is based on where you live up so it. Well we can pretty much tell what kind of aggression and that will count large situation you have and we can make recommendations to get so. It's as simple as going to Scotts dot com. And figuring out your lawn care plan right from that web site. That it is awesome. So Ashton now what about the use belonged to I mean. Can I have an absolutely. Gorgeous lawn and still let the kids played football and soccer and frisbee on it. Well it sure you know they keep saying that every lawn expert what I view as sticky having a nice looking on it just feeding it regularly and keep PG a on a regular late. And you are going to get a kind of gross book below ground and above ground so that you can enjoy you on. Either as something to look at personal and for the kids to play on and of course. Those of us that have fond memories of rolling around on the grass would our hats and what our friends. I have Brothers and sisters we knows that applauded there'd be used tend to be enjoyed. Now fashion we're we start. Once we move into a new place and how do we take the first steps when we moved in it. To make sure that long really takes off the right way. Well I think. You know you could take a look at it USA OK Latin northeasterly fed takes report times a year spraying is a great time to do you first started may even use a competing depending upon where you're letting. But then you may have let the occasional weeks that you might want to take care quite some parts of the country he might have Grubbs has a problem. That's why it's very important to go to Scotts dot com and out figure out your lawn care plan based on where you live in the and that way you will be. Putting down the right thing at the right time you'll be wasting money on applications that you don't need. When do you just renewed the law by feeding it putting down lime maybe putting down seed. And window we say forget it we need a total law and replacement just ripped it up and start a new Wendy you know. Well you know what I would do is that would probably take heed the least path. Work. The assets the way you know I would approach it and I would feed at first. And maybe after a couple of beatings. It's a lawn didn't bounce back and didn't like start to move in the direction of I want it to that may be disc ball. How would go in and maybe think about during a replacement and may be starting out with new grass seed and really count up converting on over something new or better. Because what happens sometimes with a B fifty years abusive just kind of is it the end of its useful life. Yeah but you know I keep boot into a house recently it might be that the previous owners didn't take care of the long may be for the last few years and so if you just go in and feed it a few times. You'd be surprised how much actually but grasses there it's just hungry and starving it has no root system so feeding it can really help it bounce back. And you know maybe you'll see the opportunity to put low grass seed down on the. I in question here we are right before the beginning of the month of may. So what's your best advice to our listeners. If they want V most beautiful lawn in their neighborhood. Help feed the grass I know you're surprised that they got Scott to continue to feed the grass but. Okay it's really make that gets its. Even back but now the county extension naked people would say hacker group outlawed. PD grass but to get some weeds take care about now before they spew water from your lawn and this summer. And then mobile and probably look taller than you'd think you should vote you really kind of helping your lawn by mowing it on one of the color settings. President wanted to lower settings that worked side too close to the ground. Last question for you ask him. How much should you water your lawn every week. Lawns need about it and chilled water week and it's best to put it down a half benched twice a week rather than a little bit each day if you water just a little bit each day. You end up creating a shallow root system about ordering at least a half page you'll get a night deeper system and no more than twice a week stepped in order to put on your one inch. So get a rain gauge stick it out there and you'll know what you're getting enough from rainfall out what do you need to supplement it with your own irrigation. Well Ashton thank you for joining us today and talking. About what to do when you move into that brand new house and you wanna make sure your lawn is perfect thanks yeah you're very welcome. Ashton Ritchie with Scotts Miracle-Gro. The nation's leading lawn and garden care company. Coming up unrealistic today. Kitchens the facts there's a lot to choose from that story is next on our special show. Make it your own. If you love listening to us talk apparently a state. Join the conversation. Find real seat today radio on FaceBook we can't wait to hear from you. That's real estate today radio on FaceBook. Real estate today. Because you love real estate. Back now whether special show to make it your own. An entire show all about you and how to make that house reflect your interest and your sense of style. We're going to look down a couple of big ticket items which many people consider to be the first renovation projects they tackle when they buy a home. Kitchens and crafts. Now sometimes they're perfect as it is but more often than not the needs some work before they're really what you want. So here are some ideas from our friends at real from magazine starting with kitchens. One of the hottest design trends out there is the modern farmhouse kitchen. A great big rustic gathering place with wide plank flooring. Industrial start hanging lights in one of those great big farmhouse sinks. You know the ones that extend past the edge of the counter and leave their front edge exposed. Just beautiful. Add to that the big farm styled doors on sliders. So the door hugs the wall as you pull it opened and closed. Very cool and very cozy if you're wondering about appliances. Many designers are going retro with the old style look tricked guardian side where all of a new modern features. No of course this look is not limited to just to the kitchen. Creative designers can extend our whole modern farmhouse field throughout the whole house. Bringing a little bit of country into your home even if it's right in the middle of the pigs it. Richard magazines cited a survey by next day blind. Which said the modern farm house look was the most trending design in 2017. So it's clear people like the idea of going rustic and going rural as they create the modern farm house vibe in their own homes. Moving over to bathrooms now the same deep woods finishes you might find in a modern farmhouse are also found in bathrooms. Realtor magazine reported on the 2017. Kitchen and bath design trends report by the national kitchen and bath association. They found people are very interest it and wouldn't vanities with under mount sinks. The type where there's no lip going around the countertop. Also trending open shelving often also in deep wood tones for towels and linen. And they also say many remodel there's are hiding power outlet inside cabinet. So everything from power toothbrushes to hair dryers to electric razors can be neatly out of sight. And also the days when you took a shower while standing in the tub. They might not be around from all the study report that more than half of the bathroom remodel or surveyed. Said they had eliminated tubs with showers and also whirlpool tubs. Instead the cool bathrooms of 2017. Have free standing drugs like the old fashioned claw foot style. And the shower that's just a shower. Note tugged included. And one more interesting trend white hardware. I'm talking about the faucets and handles throughout the bathroom. Not chrome and not polished aluminum but quite an interesting development in the custom paths of today's home. And as you might imagine the Smart phone tech explosion is lending in the bathroom to. The survey finds that more and more homeowners want Smart toilet. With heated seat nightlife. Automatic flushing. And yes of course remote controls. They also want music in the shower which combines today's Bluetooth technology. Without water proof enclosure. And consumers want plenty of bright lighting to which not only help she shave it's a big safety bonus. And finally radiant heating built right into the floor. That sounds absolutely incredible walking into the bathroom in your bare feet on a cold morning. Only to be greeted with a warm comfortable floor now how about you when you move into a brand new place what will you do. Well that the whole thing about homeownership. The place is yours. And you can paint you can remodeled you can make it Smart or you can do absolutely. Nothing. Every decision is yours when you own the place and you set out to make it your own. Coming up next week unrealistic today show me the money. An entire show about down payments and use. How much do you really need to buy that house can you get down payment assistance we'll have all of that. In our special show and show me the money next week right here on realistic today. And remember you can always listen to our lines at our new web addresses radio dot realtor. And from all of us here at realistic today thank you for listening. If you're realtor. You can put the entire really see today's show on your web site the best we'll be shown on the radio. 100%. Free to any our members. Just go to our new web address. Radio dot realtor and click.
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