Things are looking up if you live anywhere besides the Northeast! States in the West, South and Midwest all made Clever Real Estate's list of the 10 housing markets with the fastest-growing home values in 2018. Research analysts at the company took a deep dive into Zillow housing data, as well as Nielsen's Top 100, to come up with their list.
Las Vegas sits at the top spot with the biggest jump in home values. Surprisingly, though, the city didn't make Zillow's list of the hottest market predictions for 2019. Atlanta, San Jose, Indianapolis, Orlando and Dallas, however, all made both lists.
Here are the 10 markets with the fastest-growing home values over the course of 2018:
1. Las Vegas, Nev.
2. Atlanta, Ga.
3. Indianapolis, Ind.
4. Charlotte, N.C.
5. San Jose, Calif.
6. Dallas-Fort Worth, Texas
7. Salt Lake City, Utah
8. Memphis, Tenn.
9. Tampa, Fla.
10. Orlando, Fla.
To view the full report and for a rundown of Clever Real Estate's methodology, click here.
Are you buying at the right price?
Don’t Guess. Work with a PSA.
There’s a great deal to consider when buying a house. Under- standing how the price of your potential home is determined will help you make the smartest (and best) investment.
That’s why you need a REALTOR® who is a Pricing Strategy Advisor (PSA).
Working with a PSA adds valuable perspective to your transaction while taking the guesswork out of pricing. Gain the confidence that the home you plan to buy has the most accurate price.
A PSA strategically finds this number through a Comparative Market Analysis, also called a CMA.
I’m a PSA, and I can help you find your home at the right price.
Top 8 Home Design and Remodeling Trends for 2019 If you’re a current homeowner, or in the market to buy, you’re probably curious about the latest trends in home design. Sellers who make strategic updates before listing a property can generate increased interest from buyers and, in some cases, a premium selling price. And buyers should consider which features of a home will need updating immediately (or in the near future) so they can factor renovation costs into their overall budget. Even if you have no immediate plans to buy or sell, we advise our clients to be thoughtful about the colors, materials, and finishes they select when planning a remodel. Making over-personalized or unpopular design choices could hurt a home’s value when it does come time to sell. And selecting out-of-style or overly-trendy elements could cause your renovation to feel dated quickly. ?To help, we’ve rounded up eight of the hottest home design trends for 2019. Keep in mind, not all trends will work well in every house. If you plan to buy, list, or renovate a property, consult a professional who can help you realize your vision and maximize the impact of your investment. WARMER PAINT COLORS ?White and grey aren’t going anywhere, but expect to see warmer tones and more earthy neutrals popping up in 2019. Cold whites are being replaced by warmer, softer whites. And warmer tones of grey have become a popular alternative to the cooler grays we were seeing earlier in the decade. Dove grey—with a lilac undertone—is a particular favorite with designers this year. Sherwin Williams chose Cavern Clay, a warm terracotta, as its 2019 color of the year, while Behr selected Blueprint, a mid-tone blue. Benjamin Moore’s selection is Metropolitan, a sophisticated grey. If you’re preparing to sell your home, consider a light, neutral paint color. Neutral colors provide a blank canvas upon which a buyer can envision placing their belongings, and lighter colors make a room appear larger and brighter. Copy this code to embed the photo on your site:
MIXED METALS Don’t feel limited to using one metallic finish throughout your home—or even throughout a single room. Designers are mixing metals in 2019, and their favorites include copper, brass, pewter, gunmetal, and matte black. Experts suggest picking one metal hue to dominate your color palette and a contrasting tone to complement it. If your room has a warm color palette, choose a warm-hued primary metal, such as brass or copper. For cool palettes, choose a cool-toned metal, like pewter or stainless steel. You can also experiment with mixing finishes, such as polished and hammered copper. From faucets to cabinet pulls to accent pieces, swapping out your old or dated fixtures is an easy—and relatively inexpensive—way to modernize your decor. Mixing metals adds depth and gives your room a more curated look. OUTDOOR ELEMENTS Bringing outdoor elements into the home can help warm up a sterile space. And natural materials can soften a modern design esthetic. Homeowners are increasingly looking for ways to incorporate these materials throughout their home. Especially popular right now: stone, copper, concrete, and wood. From concrete showers to agate stone tiles, designers are finding unexpected ways to bring the outside in. One notable exception: granite countertops. Engineered quartz—a combination of ground quartz and resin—overtook natural granite stone as the most popular countertop material in 2018. This durable, low-maintenance, highly-customizable product has won over homeowners and designers alike. Copy this code to embed the photo on your site:
ALTERNATIVE APPLIANCES? Stainless steel has been the industry standard for years, but the market is trending toward variety and fresh alternatives. Homeowners have more options available than ever to personalize their kitchens with vibrant colors, black stainless, or modern white appliances. Another favorite? Integrated appliances that blend seamlessly into cabinetry. Built-in column refrigerators, which allow you to customize the design and size of your freezer and refrigerator, are becoming a “must-have” in high-end homes. Advancements in technology have also brought a new wave of appliances to the market. Induction cooktops are replacing commercial gas ranges as a gourmet favorite. And french door ovens and steam ovens are also gaining in popularity—especially ones with smart features you can control from an app on your smartphone. COLORFUL KITCHENS White will always be a classic choice, but color is finally coming back to kitchens. More homeowners are choosing cabinets in alternative neutrals like black, cream, and grey, along with colorful options like green and blue. Also popular? Wood cabinets in stains like warm chestnut and fruitwood. Two-tone kitchen cabinets remain a homeowner favorite, as well. To incorporate this trend, try pairing darker lower cabinets with lighter upper cabinets or a colorful kitchen island with neutral-colored perimeter cabinets. Copy this code to embed the photo on your site:
OPEN SHELVING Swapping upper kitchen cabinets for open shelves continues to be a popular choice in 2019. It’s a cost-effective update that can make a kitchen feel larger and brighter. However, it’s not a practical option for everyone. Before you commit, test it out by removing your cabinet doors for a few weeks. See how it feels to have your glasses and dishware on display. Not ready to give up all your upper cabinet storage space? Replace just one or two upper cabinets with open shelves for a lower-commitment but still-updated look. STATEMENT TILE? The ubiquitous white subway tile is finally fading in popularity. In 2019, homeowners are gravitating toward more colorful choices, creative textures and finishes, and alternative shapes. Especially hot right now: hexagons, arabesques, diamonds, and Moroccan fish scales. Natural stone remains a favorite, including marble, quartzite and river rock. But advancements in porcelain tile that mimics stone, and even concrete, has made it an attractive, affordable, and low-maintenance alternative. Copy this code to embed the photo on your site:
SHOWCASE CEILINGS Once an afterthought, ceilings are taking center stage. While 2018 was all about statement walls, statement ceilings are shaping up to be the darling of 2019. Designers are using bold paint colors, wallpaper, intricate moldings, fabric, and other materials to transform a ceiling into something truly special. Want to incorporate this trend without going too bold? Choose a classic design, like coffered or wooden beams. Or stick with wood paneling or tin tiles for a more timeless look. Even something as simple as painting a ceiling the same color as the walls can make your space feel more modern. DESIGNED TO SELL Are you contemplating a remodel? Want to find out how upgrades could impact the value of your home? Give us a call for a free consultation! Buyer preferences can vary greatly by neighborhood and price range. We can share the insights we’ve gathered from working with buyers in this market … and offer tips on how to maximize the return on your remodeling investment. And if you’re in the market to sell, we can run a Comparative Market Analysis on your home to find out how it compares to others in the area. Sources: Decor Mag –?https://www.decoraid.com/blog/home-design-trends-2019 Gates Interior Design –?https://gatesinteriordesign.com/hottest-new-kitchen-and-bath-trends-for-2019/ House Beautiful –?https://www.housebeautiful.com/home-remodeling/interior-designers/a24844028/home-trends-for-2019/ Houzz –?https://www.houzz.com/ideabooks/114552119/list/32-home-design-trends-that-will-rule-in-2019 Invaluable –?https://www.invaluable.com/blog/mixing-metals/ Real Simple – ?https://www.realsimple.com/home-organizing/decorating/decorating-tips-techniques/design-trends-2019-according-to-designers Sebring –?https://sebringdesignbuild.com/top-trends-in-kitchen-design/
Down payment help sounds great, but how does it actually work? What process should you follow?
While down payment programs vary greatly by state and community, there are some universal steps that will help you stay on track if a homeownership program is part of your home financing plan. Let’s look at how it worked for one Florida buyer recently highlighted in Business Insider.
Willy Harris, 24, and his girlfriend used a Florida first-time homebuyer program to purchase a $204,000 new construction home in Jacksonville, FL. The program allows first-time homebuyers within qualified income and purchase-price limits to receive up to $15,000 in secondary financing toward down payment and closing costs. If the homebuyer lives in the home for five years, the secondary loan is forgiven. Harris used a FHA home loan that required a 3% down payment.
They put down a $1,000 deposit to reserve the lot, while the grant covered their $7,750 closing costs and $6,150 down payment. The remaining amount of the grant went toward the principal of the home loan. Because they put 3% down, they also paid a monthly mortgage insurance premium of $109. Their first mortgage payment is currently $1,503 a month.
Harris recommends setting up a budget and savings plan, and researching programs that can give you a boost.
Follow these steps to get the most of using a homeownership program:
Get even more answers to Gen Z home financing questions from a Realtor.com economist. Good luck!
Year-End Foreclosure Report Shows a Decline in Inventory
The latest quarterly Foreclosure Report issued by MIBOR shows home foreclosure inventory down 49.6 percent in the fourth quarter of 2018. The current market share of foreclosures in our region is 1.9 percent, down from 3.5 percent at the end of 2017 and 4.0 percent at the close of 2016. Foreclosures made up 2.0 percent of all new listings in the 4th quarter of 2018, down from 4.4 percent the year before and 6.3 percent in 2016.
Single family properties make up the vast majority of all foreclosure listings and sales, while townhomes and condos account for a much smaller share. Out of 130 foreclosures in fourth quarter, 112 fell in the $175,000 and below range, with a 63.6 percent decrease to foreclosures in the $120,001 to $175,000 range.
The median sales price of a foreclosed property is currently $65,000 compared to the $177,500 median sales price of a traditional sale making the blended figure $175,000. Foreclosed properties are receiving 91.2 percent of original list price compared to 94.9 percent for traditional sales.
Click here for the full report and visit here for the archive of previous reports.
Indy Custom Real Estate
176 W Logan St., #375
Noblesville, IN 46060