Busy weekend. I had the opportunity to work with two different clients. While that is not news worthy, the price range of homes was. Both of my clients were looking at homes over $350,000 in value. Both have attachments to Maryland and will be commuting. What makes this of interest, this segment of our local market has been extremely quiet the last 18 months. To have not one, but two clients in the same weekend could be an indicator that our relocating, “move up” buyers are starting to become more active. I think we will also see a marked increase in homes being marketed in this price range. Numerous sellers have refrained from listing their properties because of the lack of buyer interest.  I would anticipate a slight “uptick” in home prices, but still excellent values when coupled with the low interest rates. Great time to take advantage of the market. If we can provide you with any additonal market information, please do not hesitate to contact us.

Fat Tuesday, the day before the start of Lent, it is tradition to use up the items in your kitchen that wouldn’t be used during the semi-fasting period to follow. Here in southern PA, home to the PA Dutch and Amish, the day is known as “Faschnaut Day”. A faschnaut is a wonderfully sinful deep fried donut originally made for the purpose of using up some of that kitchen stock. A great place to find this treat-Brown’s Orchard & Farm Market. (www.brownsorchards.com/)

Winter definetely made a statement in Red Lon, PA. We received over 21″ of snow.

Homegain recently released the results of a national survey of the top low cost (under $5,000) do-it-yourself projects for sellers getting their home ready to list. The top 5 based on average cost and return on investment (ROI) to sellers, are:

Cleaning and de-cluttering ($200 cost / $1,700 price increase / 872% ROI / 98% recommended)
Home staging ($300 cost / $1,780 price increase / 586% ROI / 82% recommended)
Lightening and brightening ($230 cost / $1,300 price increase / 572% ROI / 95% recommended)
Landscaping ($320 cost / $1,500 price increase / 473% ROI / 94% recommended)
Repair Plumbing ($385 cost / $1,250 price increase / 327% ROI / 88% recommended)
As you know, every real estate listing is unique and will benefit from a personalized and professional review of where to focus. Give us a call to assisst you with getting your home ready for market.

RISMEDIA, January 30, 2010—(MCT)—If your idea of a dream retirement home is a luxury contemporary overlooking a championship golf course in the desert, you better be prepared for some mighty small block parties: When it comes to retirement living, golf courses are out.

And Arizona and Florida aren’t the only retirement-relocation hot spots these days. In fact, North and South Carolina now top the preferences of baby boomers who will be retiring in the next decade, according to a survey to be released from home builder Del Webb. “How times have changed when it comes to the golf course,” said Paul Cardis, chief executive of AVID Ratings Co., a survey research firm. His recommendation to builders: Eliminate it. Bike paths and walking trails are the new greens and fairways.

Blame it all on the economy. The recession has taken its toll not only on nest eggs but also on the traditional concept of a retirement home. That’s the message that attendees at the International Builders Show received in a number of presentations and seminars.

Downsizing is a trend that is taking hold among all housing consumers, but it is particularly evident among the 55-plus crowd that includes the older baby boomers. And that downsizing includes housing aspirations in retirement. While “warmer climate” was the reigning factor in choosing where to retire in the first boomer survey Del Webb conducted in 1996, today “cost of living” is the most important consideration on where to locate. Although Florida, Arizona and California remain Top 10 retirement destinations, the trend is giving other states a chance to draw even more retirees.

Despite the broadening of potential destinations, baby boomers’ desire to move in retirement has remained relatively stable over the years. Between 30-40% plan to move to a new home in retirement, about the same as in 1996, and half of those plan on moving to a new state.

What older buyers want in homes
What kind of houses will be in demand among those 55 and older? According to a consumer survey conducted by the National Association of Home Builders, the most important design features that 55-plus buyers want in their homes center on the practical:

-Washers and dryers in their units
-Storage space
-Windows that open easily
-Garage-door openers
-Easy-to-use thermostats
-First-floor master bedrooms
-Private patios
-Porches
-Attached garages
-Bigger bathrooms

A lot of the more popular features in new homes these days don’t appeal all that much to older buyers:
-Island work areas
-Separate showers
-Private toilet compartments
-Sun rooms
-Woodburning fireplaces
-Exercise rooms

But a number of items that home buyers don’t find to be of much interest are much more popular with older buyers:
-Bathroom aids such as grab bars
-Kitchen aids
-Light home-repair services
-Outdoor maintenance services
-An entrance without steps
-Accessible public transportation
-Wider doorways
-Nonslip flooring

Among technology features, older home buyers tend to act like younger buyers when it comes to the basics: Both groups have a preference for security systems, energy management, structured wiring and lighting controls. But older buyers had little use for home theaters, distributed audio or home automation, more-expensive items that younger buyers do like. “These older buyers are frugal, probably on a fixed income and so expensive tech items are not that big on their lists,” said Rose Quint, the NAHB assistant vice president for survey research.

The emphasis on services related to home and community is an important one that cuts across many age groups, said John Migliaccio, director of research at MetLife’s Mature Market Institute, which surveys consumers and builders on retirement issues. “Very telling is that the younger group of mature consumers reported enthusiastically that they want services like home maintenance and repair as part of their next home purchase, along with services usually connected to older householders, such as housekeeping, onsite health care and transportation,” he said.

According to Migliaccio, all of those items were ranked higher than the desire for social activities by this group—a surprise given that social activities and amenities have been thought to be valued highly by this group. He said the data support an emerging trend among builders to look for ways to partner with providers of such services to the residents of their active adult/lifestyle communities.

Migliaccio also predicted that universal design—which includes features such as wider hallways, lever-handled doors, roll-in showers and no-stair entries—will catch on as baby boomers watch their own parents age. “The boomers are going to see their own parents age without it and they won’t like what they see,” he said.

The 55-plus age group represents 38% of all U.S. households and is projected to rise every year to be almost 45% of households by 2019. And that group has high homeownership rates: while the U.S. as a whole has about a 67% ownership rate, those 55 to 74 own homes at an 80% clip. “Most buyers in this market are looking for an easy-living lifestyle. They would like easy access to services that will free up their time from maintenance both inside and outside their homes,” said Mike McGowan, a 50-plus builder from Binghamton, N.Y. and chairman of the National Association of Home Builder’s 50-Plus Housing Council. “This data tells builders that the homes they build for older active adults will remain attractive to the consumers who will be entering that market for the foreseeable future.”

(c) 2010, MarketWatch.com Inc.

We have several excellent properties available featuring many of the ammenities described in this artilce. Give us a call to start your new home search.

A new survey by NAHB and the MetLife Mature Market Institute finds that consumers in the 55-to-64 age group and those over age 65 have similar housing preferences. However, consumers in the younger age group want more technology features in their home, while those in the older group prefer a single-story floor plan or one with a first-floor master bedroom, as well as universal design features.

The survey also finds that the younger group expressed an interest in home maintenance and repair services as part of their next home purchase, as well as services typically associated with older homeowners, such as housekeeping, onsite health care and transportation. Fewer members of the younger age group expressed a desire for organized social activities, long thought to be highly valued by this group. Thu, Jan 21, 2010

The government announcement states: “To help facilitate the return of repaired and habitable properties to the market in a timely fashion, additional exemptions to the 90-day resale restriction period must be granted for the purchase of properties by investors. This policy change will help to sell properties that may otherwise remain vacant for up to 90 days, while offering affordable housing options to buyers wishing to use FHA-insured financing.” Please contact us for additional details.

The Federal Housing Administration will raise the minimum down payment for its least credit-worthy borrowers, the agency announced Tuesday.

The change is among a number of major changes the FHA is making to ensure its long-term financial soundness.

Borrowers with credit-rating scores below 580 will be required to put down at least 10 percent. Those with a credit score above 580 will be able to continue to put down only 3.5 percent. The changes are intended to shore up the agency’s finances.

The FHA also will increase its upfront mortgage insurance premium from 1.75 percent to 2.25 percent. The agency is expected to seek congressional approval to raise annual mortgage insurance premiums, paid by borrowers over the life of the loan, above the current 0.55 percent maximum. The amount it will seek has yet to be announced.