South Florida housing prices are up year over year

It looks like home values hit bottom in late 2011 — retreating to 2002 levels — and are creeping upward now.But experts caution that the trend may not last.

Say good riddance to the bottom of the housing market. After giving up a decade of value, home prices are on the upswing in South Florida and ahead of much of the nation, according to two key national indices released Tuesday.

Some analysts say we still have a way to go, and we could see fluctuations before we reach a real recovery.

Home values in South Florida rose 1.1 percent year-over-year in March, to $141,300, after reaching bottom in late 2011, according to Zillow’s Home Value Index.

Only Phoenix had a higher year-over-year increase, 2.8 percent. (more…)

Market Ready: Q. What’s the best way to declutter my home before I show it to potential buyers?

Can I leave packed boxes in a corner or do I need to move things into storage?

A. Even if your house hasn’t been featured on “Hoarders,” making an effort to clear out clutter and to ensure that your home is as neat and tidy as possible before opening your door to buyers is common advice in real estate circles. And for good reason, said Jeffrey Stockwell, a senior vice president with Stribling & Associates in Manhattan.

“It’s vital, because most real estate is aspirational, and buyers want to see themselves someplace better and more beautiful,” he said. “They want the feeling that if they move in there, it will be organized, clean and attractive. If they walk into a cluttered, messy space, there’s none of that feeling that life will be better.”

Even if your home is in good condition, Mr. Stockwell said, “if it’s cluttered, people will think it needs a renovation, and that lowers the value.” (more…)

South Florida residential inventory

Compiled by Condo Vultures Realty using the South Florida Shared Multiple Listing Service. Active listings are properties where no current sale contract exists; pending sales are properties in which a contract for sale has been executed (more…)

The Perfect Loan File

The media has it all wrong – securing mortgage approval and satisfying credit underwriting guidelines are not the difficulties plaguing mortgage consumers. It’s in meeting the rigorous documentation requirements that most people fall flat. The good news is, the fix is simple. Just scan, photocopy, fax, and deliver every aspect of your financial life. Then, shortly before closing, check everything again.

Mortgage consumers who enter the mortgage approval process ready to battle their chosen mortgage lender will come out with a nightmare story to tell. As the process, requirements, and guidelines are the same for everybody, your mindset is the game-changer. Accepting the redundant documentation necessary for lender approval will make everyone’s life easier.

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Putting the ‘kitsch’ back in kitchen

Kitchens have become so serious. All that granite, dark wood and stainless steel. The heart of the home these days is more like a sleek and severe shrine to haute cuisine.

But kitchens don’t have to be as stressful as an episode of Top Chef. Designers are increasingly turning to retro, whimsical touches like coffee cup wallpaper, bright vintage dishware patterns, and colorful appliances and electronics to bring the fun back into this increasingly streamlined room.

“I think we’re reaching back to simpler times, when America was kind of on track and things were looking up. … It’s something that hits an emotional chord,” says Rosanna Bowles, founder and owner of the Seattle-based Rosanna Inc. tableware line. (more…)

10 Bedroom Trends to Try

Three of our favorite designers share what’s hot in bedroom design today (hgtv.com)

By H.Camille Smith (hgtv.com)

As You Like It

Designer Trish Beaudet advises that your bedroom should be an original expression of you. “I believe the master bedroom should be a space you walk into and instantly feel relaxed,” she says. (more…)

Housing Expected to Add to GDP for First Time in 7 Years

The 2012 outlook is improving modestly from a disappointing 2011. Economic growth picked up in the fourth quarter of 2011 to 2.8 percent and is expected to come in at 2.3 percent for 2012, up from 1.6 percent growth for all of last year, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group. However, the year-end growth rate was due largely to a positive swing in business inventory growth, which is not indicative of underlying consumer demand or the overall health of the economy. Nevertheless, consumer spending improved modestly and manufacturing and services activity expanded at a strong pace.

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Housing Crisis to End in 2012 as Banks Loosen Credit Standards

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit.

The analytics firm notes the average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to
the crisis, it is constant with requirements one year ago.

Additionally, a Fed Senior Loan Officer Survey found credit requirements in the fourth quarter were consistent with the past three quarters.

However, other market indicators point not just to a stabilization of mortgage lending standards, but also a loosening of credit availability. (more…)

Builder Magazine’s Top Design Trends Of 2011 Could Have Been TreeHugger’s

Builder Magazine’s annual roundup of the top design trends usually doesn’t have much to say to TreeHugger types, but his year is very different, as the ideas we have discussed for years make their way into the mainstream. Trends include Make Mine Mini (malist), the shrinking of apartments and houses. People don’t need as much; one architect notes that “These kids use the city as their living room and their tiny apartment as their crash pad,They own little but their digital gadgets.” (more…)

Kelly Hoppen shares her interior design tips for 2012

Multi-award winning designer, Kelly Hoppen MBE, releases interior trends report for 2012 and shares with you all the knowledge you need to for this year.

“This past year has been an exceptionally busy year, an endless whirl of designing interiors, launching products, writing a book and filming the first series of my Channel 5 show Superior Interiors. (more…)