Sunrise Homes & Renovations, Inc.

  • Home
  • About
    • About Us
    • Recognition
      • Disaster Contractors Network
      • US EPA Certified
    • Accessibility Statement
  • Example Models
  • Renovations
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
  • Blog
  • Contact

NAHB: Builder Confidence in Housing Market Ticks Up in October

October 23, 2018 by Rhonda Costa

NAHB Builder Confidence in Housing Market Ticks Up in OctoberHome builder confidence in national housing market conditions rose one index point for a reading of 68 in October. Readings over 50 indicate that most builders are confident about market conditions. Rolling three-month averages showed mixed results. The Northeastern region gained three points for an index reading of 57; the Midwestern region lost two index points with a reading of 57 and the Southern region posted a gain of one point with a reading of 70. The Western region held steady at 74.

Readings for sub-categories of the Housing Market index showed a one-point gain to 74 for current market conditions, Builder confidence in market conditions over the next six months also gained one point for a reading of 75 index points. Builder confidence in buyer traffic rose four points to 53. This was remarkable as historical readings for buyer traffic rarely rose above the benchmark reading of 50.

Demand for Homes Rises

The National Association of Home Builders reported that demand for homes increased regardless of high home prices, rising mortgage rates and low inventories of available homes. Labor shortages and high cost of buildable lots continued to weigh on builder confidence. Analyst predictions that home prices have peaked did not impact October’s builder confidence readings.

Home Builders Look Toward Affordable Housing

When the current housing boom started, builders concentrated on building high-end homes as cash buyers and investors fueled demand. Home prices rose quickly as inventories of homes for sale dwindled; first-time and moderate-income home buyers were sidelined as affordable homes were quickly snapped up. Strict mortgage qualification requirements presented challenges to buyers with credit problems. Consumers struggle with home price growth that exceeds inflation and wage increases.

As analysts report that home prices may have hit their peak the highest reading for builder confidence in recent months was 74 in December 2017. Slowing increases in home prices have signaled builders that favorable housing market conditions may have reached a tipping point. If another recession occurs, those who bought their homes at the top of the market and who have little equity are most at risk. Analysts cited high priced coastal areas as ripe for this risk. Meanwhile, builders are looking to create more affordable housing in response to signals of slowing growth in residential real estate markets.

Contact your trusted real estate professional to find out about about the market trends specific to your area.

Filed Under: Real Estate Tagged With: Builder Confidence, Market Conditions, Market Trends

What’s Ahead For Mortgage Rates This Week – October 22nd, 2018

October 22, 2018 by Rhonda Costa

What's Ahead For Mortgage Rates This Week - October 22nd, 2018Last week’s economic reports included readings on home builder confidence,sales of pre-owned homes and housing starts.  The Commerce Department also issued a report on building permits issued; weekly reports on mortgage rates and first-time jobless claims were also released.

Homebuilder Confidence Rises One Point

The National Association of Home Builders reported a reading of 68 for October,which surpassed August’s reading of 67. Any reading over 50 indicates most home builders are confident about housing market conditions. Builders cited ongoing headwinds including higher prices for materials,shortages of lots and labor and rising mortgage rates. Builders sought ways to provide more affordable housing options as they faced higher costs.

Regional readings of builder confidence readings,which are tracked on a three-month rolling average,were missed. The northeastern region gained three points for a reading of 57; the southern region gained one point for an index reading of 70. The midwestern region lost two points for a reading of 57. The western region was unchanged from September’s reading of 74.

Sales of Pre-owned Homes Slip toward 3 Year Low

The National Association of Realtors® reported fewer sales of pre-owned homes in September;5.15 million sales were reported on a seasonally adjusted annual basis as compared to August’s reading of 5.33 million sales. Analysts expected a reading of 6.27 million sales for September. Faced with high home prices and slim inventories of available homes,would-be buyers sidelined their searches for homes. Housing starts were 3.40 percent lower month-to-month and hit their lowest rate since November 2015.

According to the Commerce Department,housing starts also fell in September to 1.201 million starts on a seasonally adjusted annual basis. August’s reading was 1.268 million starts. Year-over-year,housing starts were 3.70 percent higher.,but fewer housing starts were bad news for housing markets as demand continued to exceed supplies of available homes. Building permits issued also fell in September to 1.242 million permits issued as compared to August’s reading of 1.249 million permits issued.

Mortgage Rates,New Jobless Claims Lower

Freddie Mac reported lower average mortgage rates last week. Rates for 30-year fixed rate mortgages were five basis points lower at 4.85 percent; rates for a 15-year fixed rate mortgage averaged three basis points lower at 4.26 percent. The average rate for 5/1 adjustable rate mortgages was three basis points lower at 4.10 percent.

First-time jobless claims also fell last week to 210,000 new claims filed,which matched expectations but was lower than the prior week’s reading of 215,000 new claims filed.

What‘s Ahead

This week’s scheduled economic releases include readings on new and pending home sales along with weekly reports on mortgage rates and new jobless claims.

Filed Under: Financial Reports Tagged With: Financial Reports, Interest Rates, Mortgage Rates

Foreclosure Rates Expected To Dip Below 12-Year Low

October 19, 2018 by Rhonda Costa

Foreclosure Rates Expected To Dip Below 12-Year LowThe record-setting pace of the U.S. economy continues to positively impact the housing market and home foreclosures now stand at an astonishing 12-year low.

Coming off a GDP growth rate of 4.1 percent and a historic bull stock market run, everyday Americans appear to be benefiting from one of, if not the strongest economies in decades. According to data compiled by CoreLogic, mortgage delinquency rates continue to improve and are already at the lowest levels in 12 years.

Building on last year’s national trend, foreclosures and mortgages more than 30 days past due declined to 4.2 percent in May. Other analytics show that mortgages at some stage in the foreclosure process also dipped by.02 percent from May 2017 to 2018. With a low 5-percent national foreclosure rate, the industry enjoys its best forecast since September 2006.

Some Housing Markets Lag Behind

While the country appears to be immersed in an economic revival, areas impacted by severe weather and hurricanes have not quite shaken off their impact.

“Serious delinquency rates continue to remain lower than a year earlier except in Florida and Texas, the hardest-hit states during last year’s hurricane season, CoreLogic president and CEO Frank Martell reportedly said.

There are also regions unaffected by hurricanes that are also lagging behind the strengthening conditions, according to research by ATTOM Data Solutions.

  • Foreclosures increased in eight states and the District of Columbia through the first half of 2018.
  • The District of Columbia suffered the worst foreclosure rate in the nation with a 60-percent increase over 2017.
  • Foreclosures increased in only 28 of 217 metropolitan housing markets studied. Oklahoma City topped the list with a 22-percent uptick.
  • Through June 2018, New Jersey endured the highest state foreclosure rate, with.99 percent of all properties in foreclosure.

According to ATTOM, Atlantic City, Trenton, Philadelphia and Chicago topped the list of total foreclosures during the first half of 2018.

2019 Foreclosure Predictions

History makes an excellent teacher and the wildfires destroying California communities are expected to negatively impact home ownership.

“While the strong economy has nudged serious delinquency rates to their lowest level in 12 years, areas hit by natural disasters have had increases,” CoreLogic chief economist Frank Nothaft reportedly said. “The tragic wildfires in the West will likely lead to a spike in delinquencies in hard-hit neighborhoods.”

“As an example, the wildfire in Santa Rosa last year destroyed or severely damaged more than 5,000 homes,” Nothaft reportedly said. “Delinquency rates rose in the aftermath, and in the ensuing months we observed home-price growth accelerate and sales decline. We will likely see the same scenario unfold in fire-ravaged communities this year.”

While America’s collective hearts go out to the families displaced by the California wildfires, the positive economic trends are expected to continue in much of the country.

CoreLogic’s Nothaft predicts foreclosure and delinquency rates to decline even further. Heading into 2019, positive numbers could upstage the current 12-year low and reach levels not seen in upwards of 15 years.

Contact your trusted real estate professional to learn about the market trends in your area.

Filed Under: Real Estate Tagged With: Foreclosure Rates, Market Conditions, Market Trends

U.S. Wage Increases Could Help Home Buyers

October 18, 2018 by Rhonda Costa

U.S. Wage Increases Could Help Home BuyersThe struggle to achieve the American homeownership dream often feels like it happens in a vacuum. Everyday people work hard, save money and polish up their credit to get a low mortgage rate.

But there are powerful forces at work that are far beyond each person’s control. And until recently, the gap between American wage growth and rising home prices was widening. According to data coming out of the U.S. Department of Labor, unemployment recently hit a 49-year low and wages are enjoying the greatest uptick in nearly a decade. That is good news for prospective home buyers.

American Wages On The Rise

The 2018 economic news has seemed like one long greatest hits album. Historic-low unemployment for African-Americans and Hispanic-Americans has spurred confidence among these groups and the national unemployment has been steadily under 4-percent. The stock markets are booming, and the GDP growth has been impressive.

But there has been some frustration over stubborn wages that haven’t kept pace with other metrics. A report following stagnant salaries in February pointed to no slow down between rising home prices and wallowing pay rates. The growth rate was reportedly a modest 0.1 percent gain in February and that put Americans behind the curve in terms of buying homes.

But numbers coming out of the second quarter jobs report point to a 10-year high wage increase. The Bureau of Labor and Statistics reported wages are rising as employers compete to fill positions and the 12-month increase stands at 2.9 percent through August.

These are key numbers that may put a smile on potential home buyers’ faces.

  • Wages rose 0.5 percent in the second quarter of 2018.
  • Through August, wages rose 2.9 percent over the previous 12-month period.
  • Private industry compensation increased by 2.9 percent.
  • Government compensation increased by 2.3 percent, down from 2.6 in 2017.
  • Sales jobs gained by 3.5 percent.
  • Transportation jobs increased by 3.4 percent.

Experts are also claiming that setbacks from hurricanes likely blocked wage growth from topping the 2.9 high in 2009.

Where The Housing Market Stands

There’s little doubt that the surging economy put a higher number of Americans in position to purchase homes. However, inventory has remained well behind demand and that created a seller’s market with rising listing prices. But home prices are coming within reach for more people in 2018 and possibly 2019 market.

Since bottoming out in 2102, today’s home prices reportedly stand at about 6 percent higher than they were at their 2006 peak. That is not necessarily an indication that another housing bubble exists. Rather, the uptick in home prices is a natural reaction to an inventory shortage and economic growth.

The optimistic news for prospective home buyers is that wage growth appears to be gaining on home costs. As the gap closes, it’s likely that more and more people will be financially able to secure the American Dream of owning a home.

If you are in the market for a new home, be sure to contact your trusted real estate professional!

Filed Under: Mortgage Tagged With: Economics, Market Conditions, Mortgage

Ways to Stay Safe During the Holidays

October 17, 2018 by Rhonda Costa

Ways to Stay Safe During the HolidaysThe arrival of fall, with cooler temperatures followed by a season of holiday celebrations, means getting cozy at home, spending more time cooking and enjoying friends and family in front of a blazing fire, and lighting up your home for a series of holidays. Sadly, though, it is also a time that carries a higher risk of property losses due to fire and accidental injuries.

Here are some guidelines about how to reduce those risks and stay safe this winter:

Keep The Kitchen Safe

Serious burns and kitchen fires can dampen any holiday celebration. Statistics show that Thanksgiving and Christmas holidays can be especially prone to accidental kitchen fires and injury. If you have guests helping out, or children in the kitchen, be especially watchful. Don’t overload circuits and never let electrical cords dangle over counters. Supervise young helpers, and know what to do in case of a stovetop grease fire or a sparking appliance.

Check The Fireplace

There’s nothing as cozy as a roaring fire on a chilly winter evening. But follow the rules for fireplace safety: Have a proper screen, don’t throw paper into the fire, and check the damper and chimney spark arrestor. Whether you have a traditional fireplace or a gas-fueled metal firebox, perform a pre-season check to assure that everything is operating properly before lighting that first fire.

Candle Safety

Candles are a huge risk during the holiday season, from Halloween on through New Years. As pretty as they are, wax candles should never be left to burn unattended, indoors or out. If you want to line your sidewalk with jack-o-lanterns or create a glowing pathway for winter guests, consider battery-operated candles for safety. Indoors, keep candles away from draperies, drafts and flammable decorations, and don’t ever place candles on a Christmas tree or among pine boughs on a mantel or dining room table. It’s simply too dangerous.

Trees And Home Decorations

If lighting up the home for the holidays is a tradition for your family, check the UL label for both indoor and outdoor lighting and never overload a circuit. Use care when stringing lights, and turn them off when you’re not at home. Check ornament labels — look for flame retardant and non-flammable certification. Always turn lights off at night or when you’re not at home.

General Safety Precautions

Autumn is also the prime time to test your home’s smoke alarms. It’s smart to stage a family fire drill. Go over your escape plan in case of fire, and be sure to inform guests about what to do in case of emergency. In addition, if you don’t already have a carbon monoxide detector, why not consider installing one this fall?

Staying safe is a family responsibility, one that you should take seriously!

Whether you are looking for a new home or want to list your current property this winter, your trusted real estate agent has home safety and home improvement ideas that will help to make your next home transaction a wonderous success!

 

Filed Under: Real Estate Tagged With: Real Estate, Winter Safety, Winterize

Winterizing Your Yard: 3 Landscape Tips

October 16, 2018 by Rhonda Costa

Winterizing Your Yard: 3 Landscape TipsIn some parts of the country, it has already started snowing! But, even if you live in an area with a moderate climate, your lawn and garden are about to take a “winter break.” 

Here are 3 tips to assure that your yard will not only survive the winter, but flourish during the dormant season. They’ll assure that your landscape will greet spring full of life and beauty.

Fertilize The Lawn As Recommended

Most types of grass and landscape plants have a kind of built in “alarm clock” that helps them prepare for the changing seasons and the onset of winter. Many lawns, though, benefit greatly from a a fall “feeding” in order to supply proper nutrients to help roots survive during the cold and be ready to start growing again above ground in the spring.

Applying the proper fertilizer this fall is a simple and cost-effective way to get a jump on next year’s beautiful lawn. When and whether you fertilize will depend on your specific type of grass and your location.

Baby Your Plants

Autumn is the time you’ll want to pamper your plants — from rose bushes to winter squash, kale or potatoes — and different plants require varied treatments to protect them from the cold and frost. If you’re not a master gardener yourself, your local nursery should be able to offer advice. The top three things to remember are that plants need to be well-hydrated in order to prevent stress, that they might need extra nutrition (fertilizer) during the cold season, and that most plants like an extra blanket (in the form of additional mulch) during the winter.

Again, specific solutions will depend on the types of plants in your garden, but a little extra effort this fall will help even your traditional flower garden bloom even more beautifully come spring!

Extend The Growing Season

If you have a backyard vegetable garden or a raised bed full of herbs and spices, and you live in an area with mild to moderate winters, you might be able to extend the growing season indefinitely by covering your beds or tenting the garden. Learn how to protect your plants from freezing by using a frost blanket or rotating row covers. It’s not really that difficult, and the difference of only a few degrees can make a big difference. 

Although frost blankets can top plants directly, you can make them even more effective if you build a simple framework — something like a miniature greenhouse — to give your plants a winter home that allows air to circulate.

For additional information, check with a local greenhouse or nursery, or just experiment with different ideas. No matter what you plan to do, the time to begin is now!

If you are interested in putting your house on the market, your trusted real estate agent has tips and tricks to make the outside and inside of your home shine for potential buyers.

 

Filed Under: Real Estate Tagged With: Landscape, Real Estate, Winterize

  • « Previous Page
  • 1
  • …
  • 13
  • 14
  • 15
  • 16
  • 17
  • …
  • 169
  • Next Page »

Rhonda & Steve Costa

Rhonda & Steve Costa

Call (352) 398-6790
Sunrise Homes & Renovations, Inc.

Contractors License #CBC 1254207

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Connect With Us on Social Media

Categories

Looking For Something?

Our Location


Spring Hill, FL 34608

Equal Housing Opp

Return to top of page

Copyright © 2025 Sunrise Homes & Renovations, Inc.. All rights reserved.   Log In