October 26th, 2017

2018 Housing market: A New Frontier?

Posted by at 12:06 pm

Heading into the back stretch of 2017, analysts predict more of the same for the 2018 housing market – moderate economic growth, solid job gains and low mortgage interest rates. Same old, same old – or is it? Could new construction rev up the housing market wrapping up the second decade of the 21st Century? Economists say low supply is driving high prices right now, but homes are selling fast; continuing to average 30 or fewer days on the market. Some potential buyers have acceded to  the sticker shock, but in most markets, they’ve shown a willingness to spend more. Builders report first-time buyers are skipping the traditional starter home and jumping straight to that new, move-up home instead. Waiting longer to buy a first home has increased the median age of a first-time homebuyer, and many are already higher...
Read more
October 19th, 2017

Parks Enhance Urban Framework

Posted by at 9:59 am

Parks play increasingly important roles in the modern urban landscape. As America upgrades and expands its roads, sewers, and utilities, it needs also to improve green infrastructure; the ecological framework needed for environmental and economic sustainability. By planning and managing urban parks in concert with other development, cities can reduce flood control and storm water management costs, protect biological diversity, provide recreation and increase civic engagement. Appealing to humans’ intuitive love of nature and open space, a well-designed park improves the public health and brings together people of all ages and cultures. Best of all, it’s free to visit anytime. New homebuyers regularly rate access to parks among the Top 10 most important considerations in their decision-making process. Mostly funded by property taxes, parks generally do well in local bond and levy elections. In the old days, green space simply had...
Read more
October 17th, 2017

Hit the savings ceiling

Posted by at 1:25 pm

There’s a looming retirement savings crisis affecting the country! Or is there? The perception is certainly real. According to a survey by the Insured Retirement Institute (IRI), only 22 percent of 2017 Baby Boomers feel adequately prepared for retirement, Mathematically speaking, saving the highest possible amount from the earliest point in your life increases your savings potential through the value of compound interest. But no matter what your age, a holistic financial plan – putting money aside consistently and automatically – can restore confidence and build savings for those post-working years. It’s no time to panic. It’s time to change your thinking about savings. Start with the simplest things: One of the hardest things about saving money is getting started. Record your expenses to help break down where you might be able to bank extra money. Focus on using your...
Read more

Mismatched marketplace

Posted by at 11:26 am

The record-low supply of homes for sale continues to be a nationwide trend, due mostly to a mismatch with buyer demand. Sales inventory tumbled 8.9 percent nationally between 2016 and 2017, and as of Q2 2017, had fallen for  nine consecutive quarters. Bidding wars are to be expected with most offers, especially in larger metropolitan areas and their suburbs. However, the competition is mostly born out of a lack of homes at the low end of the market, where there is most demand. After the housing crisis, investors bought up a huge percentage of the existing starting home inventory, perhaps thinking of “flipping” the homes when prices recovered. But today, those investors are collecting high rents on those homes, leaving little incentive to sell. The remaining starter homes are in huge demand. New construction isn’t filling the void. While homes priced between $200,000 and $250,000...
Read more