Red Barn Real Estate

New from NAR: Positive Signs Abound for Housing

rbadmin — Sat, 19 May 2012 19:59:42 +0000

Daily Real Estate News | Thursday, May 17, 2012

The first quarter of 2012 was the best first quarter for real estate in five years, and pending contracts suggest that the second quarter of 2012 will be the best second quarter in five years, NAR Chief Economist Lawrence Yun said this morning at the Residential Economic Update during the NAR Midyear Legislative Meetings & Trade Expo.

Moreover, he said the second half of this year could be even better than the first, in part because of continued increases in rental costs and record affordability of homes. “Renters are getting squeezed, and they don’t want to rent anymore,” Yun explained. “This could be the year we see the release of pent-up demand.”

Home prices have been skipping along the bottom for about a year now, Yun said, a trend that has drawn investors into the market. These investors have helped housing through a couple of difficult years and partly mitigated the dysfunctional mortgage market.

“Right now is the time to buy low,” he said. “Investors are coming in to take advantage. Second homes started to recover nicely last year because of investors.”

However, home values are poised for a rebound as more traditional buyers move back into the market, Yun said. In fact, this has already started to happen in areas such as Phoenix and Miami, which have seen year-over-year (March 2011 to March 2012) double-digit percentage increases in home prices.

As real estate improves, consumer psychology around home ownership will change, he added. Coupled with the recent — if relatively modest — job growth and stock market gains, conditions are right for a sustained housing recovery.

Future Challenges

Nonetheless, there are issues that could restrain a turnaround in housing. Mortgages are still too hard to come by, the shadow inventory — while declining — remains historically high, and price inflation is rising “above the Fed’s comfort level,” Yun said.

To address that last problem, the Federal Reserve will likely raise rates in 2013 and 2014. Yet Yun contends a modest rise in interest rates wouldn’t necessarily be a bad thing for the housing market. That’s because an increase in rates would cause financial institutions to focus their mortgage servicing departments on purchase loans instead of refis.

The biggest challenge, though, remains the murky political and regulatory environment, particularly the repeated threats from legislators and policymakers to alter or eliminate the mortgage interest deduction. Additionally, the country is racing toward a “fiscal cliff” on Jan. 1, 2013, the date by which a compromise federal budget must be approved. If this is delayed, there will be automatic government spending cuts, which would probably create a fallout effect in the financial markets.

U.S. Migration Patterns

In a presentation preceding Yun’s, Fed Economist Raven Molloy went over data that showed migration within the United States had fallen across practically all demographic categories since the 1980s. This has significant implications for real estate, as a decline in the number of people moving around within the country can translate into a decline in home-purchase activity.

There were no sharp moves downward in internal migration during the recession, which suggests the trend is not connected to the housing market or macro-economic cycles, Molloy said. If this was the case, migration would likely increase in the next few years as the job market improves and household formation picks up. Instead, it could remain flat or fall as the economy recovers.

In his presentation, Yun said this trend, which doesn’t have a clear source, is a problematic development.

“It’s troubling,” he said. “We want to have a very dynamic society where people can move up and trade up.”

— Brian Summerfield, REALTOR® Magazine

Featured Property: The Napili in Paramount

rbadmin — Thu, 10 May 2012 18:57:11 +0000

$222,000 | Scott Tutt Building Co

4 bed | 2 bath | 1903 SF

Featured Property: The Garrison in Brownstone

rbadmin — Thu, 10 May 2012 18:53:27 +0000

$165,990 | By Hayden Homes

3 bed | 2.5 bath | 1585 SF

Featured Property: The Newman in Paramount

rbadmin — Thu, 10 May 2012 18:47:46 +0000

Starting at $318,900 | Tahoe Homes

4 bed | 3.5 bath | 3143 SF

The Napili by Scott Tutt – 716 Kingsley

rbadmin — Thu, 10 May 2012 18:29:49 +0000

Address | 716 W Kinglsey St. Meridian, ID 83646

MLS | 98493925

4 bed | 2 bath | 1903 square feet

Price | $222,000

Builder | Scott Tutt Building Co

Community | Paramount

Introducing the Napili – a brand-new single level home with an office/den and 3-car garage. Beautiful courtyard style entry. Light, bright & open living/kitchen/dining space. Kitchen features a huge island with seating room, stainless appliances, granite countertops, large walk-in pantry. Generously sized living room has full built-in shelving and large picture windows. Master suite big enough for your king-sized furniture. Huge master closet & bath w/stunning fully tiled walk-in shower. Full landscaping.

Home slated to be finished this month. Photos coming soon.

Cute 2 bed 1 bath home – 2180 N Maple Grove Road

rbadmin — Thu, 10 May 2012 18:23:05 +0000

Address | 2180 N Maple Grove Road

MLS | 98494372

2 bed | 1 bath | 990 square feet

Price | $114,990

This charming home has an ideal front & back yard full of matured landscaping, rock beds, garden beds, RV parking, dog run, good off road parking and storage space. Plenty of room for expanding. Hardwood through out the living room, dining area, hall & bedrooms. Wood fireplace in living room, pre-wired above for flatscreen w/ shelving for electronics. Ceiling fan with light in great room & all rooms have dimmer lights. New kitchen counter tops and new tile floors in kitchen & baths going in starting 5/8/12.

The Targhee by Hayden Homes – 10153 Kingsbriar

rbadmin — Thu, 10 May 2012 18:14:17 +0000

Address | 10153 W Kingsbriar Drive

MLS | 98494286

4 bed | 3 bath | 2042 square feet

Price | $197,990

Builder | Hayden Homes

Community | Brownstone

The Targhee is a charming home that features granite slab counters, engineered hardwood floors in living & dining, a center island in the kitchen & office nook off the kitchen. 3 car garage is perfect for storage or toys. This home comes with full landscaping & the patio side is complete with fencing. The upstairs has a bedroom, bath & bonus room. Open floor plan has a lovely master suite with two separate closets & dual vanities. This home has a great, open kitchen perfect for entertaining. Photos Similar.

The Garrison by Hayden Homes – 10141 Kingsbriar

rbadmin — Thu, 10 May 2012 18:08:44 +0000

Address | 10141 W Kingsbriar Drive

MLS | 98493669

3 bed | 2.5 bath | 1585 square feet

Price | $165,990

Builder | Hayden Homes

Community | Brownstone

Located in Brownstone, this 1585 square foot home offers 3 BEDROOMS and 2.5 BATHS. Complementing our inclusive features, this home also boasts these generous upgrades: stainless steel appliance package with gas self-cleaning range, birch cabinets with door hardware, upgraded carpet pad, upgraded dining room fixture, ceiling fan, fireplace, third car garage, engineered hardwood in kitchen/nook, upgraded tile backsplash in bathrooms, front window grids, five additional windows, and more. Photos to come.

398 W Valentino Ave – Only 2 years old in Paramount!

rbadmin — Tue, 08 May 2012 18:26:17 +0000

Address | 398 W Valentino Ave

MLS | 98487751

4 bed | 2.5 bath | 2206 square feet

Price | $259,900

Builder | Tahoe Homes

Community | Paramount

This home is just over a year old and is in pristine condition. Backyard opens onto Paramount’s beautiful Lange Park, which has a pool. Bedrooms all upstairs, plus laundry & bright bonus room/loft. Downstairs includes tech lounge, powder bath, kid’s mousehole under the stairs and bright & open living and eating spaces. Gorgeous hardwood floors, rich wood cabinets, Kenmore stainless appliances and granite. Beautiful back patio and good sized, fully fenced yard. Big windows and craftsman trimwork throughout.

7 easy fixes for common door problems

rbadmin — Tue, 17 Apr 2012 21:25:40 +0000

Read the article here.

When planing a door, time of year matters | By Paul Bianchina
Inman News®

If you have some doors around your house that aren’t working quite right, don’t despair. There are a number of quick and easy fixes that will take care of whatever’s sticking, squeaking, swinging or otherwise ailing your doors.

The door binds in the upper corner of the jamb: This is a common complaint, since the weight of the door wants to pull it down at an angle from the top corner, opposite the upper hinge. This causes the door to bind against the jamb in that corner. To fix it, remove one or two of the screws that hold the hinge to the jamb.

Replace these screws with new ones that are long enough to reach all the way through the jamb and into the stud behind the jamb; predrill new pilot holes through the existing holes in the jamb to make it easier to drive the screws.

These new, longer screws will pull the jamb back up against the stud and take the angle out of the door frame, relieving that pinch point in the corner.

The door binds against other parts of the jamb: First of all, ask yourself when this started happening. Is it only in the winter? If so, it’s probably due to seasonal swelling, which happens when the wood absorbs moisture from the air.

Check to see if the door is being directly exposed to moisture, such as a drip from a leaky gutter, or perhaps it’s constantly shaded by overhanging trees and rarely dries. If you can identify the cause of the seasonal moisture, correct it.

Be careful about planing a door during the winter: When it dries out again, it’ll be undersized for the opening.

If the binding isn’t seasonal, look for stress cracks in the drywall or moldings around the door. This can indicate settling issues, which may be caused by shifts in the home’s foundation, or simple drying of the wood framing, especially in newer homes.

If the settling doesn’t continue and the binding doesn’t worsen, you can relieve the bound area by tapping against the frame with a hammer and a block of wood, or by removing the door from its hinges and planing it a little. If the settling is worsening, consult with a contractor or structural engineer.

Door won’t stay latched: If the door won’t stay latched, or if it needs to be pushed hard to get it to latch into the strike plate, first look at the way the door is fitting in the jamb. If you see that it appears to be leaning down at the upper corner, try installing longer screws as described above.

Otherwise, it’s a matter of readjusting the strike plate. Site the latch to see where it’s hitting the strike plate, to try to determine if the plate needs to move up or down. If necessary, try coating the latch with lipstick or crayon and then closing the door — the resulting marks on the strike plate will help indicate where it’s hitting.

If only a small adjustment is needed, try grinding the opening in the strike plate to make it larger as needed. Use a small file or a rotary tool with a metal grinding bit. If a larger adjustment is needed, unscrew and remove the strike plate, then reposition it on the jamb and reinstall it. You may need to chisel the jamb slightly to accept the plate in its new position.

Screws are coming out: If the screws that hold the hinges are coming out of the jamb, or you’ve had to reposition the strike plate and the screws want to go back into the old holes, you need to create new wood for the screws to grab into. This is easily done by drilling out the old screw holes to the size of a standard hardwood dowel, typically 3/8 inch. Apply glue to the dowel, insert it into the hole, allow it to dry, then cut it off flush with the surrounding surface. Drill a new pilot hole into the dowel, and reinsert the screws.

Door swings and won’t stay open: This is caused by a door that’s out of plumb in its opening. To correct it, you need to insert a small amount of shim between the back of the hinge and the door jamb — usually the bottom hinge. To do that, loosen the hinge screws almost all the way, so that you have some play between the hinge and the jamb.

Insert a piece of wooden shim or other material, such as small pieces of plastic laminate, behind the hinge, then retighten the screws. You may need to adjust the amount of shim to get the door to swing correctly, and you may also need to add a small amount of shim to the center hinge as well.

The door latch hits the strike plate: This is caused by a strike cylinder that’s worked loose, or by a loose doorknob. If the strike cylinder that goes into the edge of the door is held in place with a small rectangular plate and two screws, first try tightening the screws.

If they’ll tighten and hold OK, that will pull the cylinder back into the door and hold it. If the screws won’t hold, then you’ll need to install dowels as described above.

Many newer doors have strike cylinders that are drive-in, meaning they’re held in place by a friction fit in the hole that’s drilled in the edge of the door, rather than by screws. They’re also held by tension on the doorknob, which is what the strike cylinder is connected to. First, loosen the screws holding the doorknob, so that you have a little play in the knob.

Set a block of wood against the strike cylinder, and tap it with a hammer to drive it back into the door until it’s flush with the door’s edge. Finally, securely tighten the doorknob’s screws to hold the knob and cylinder in place.

The door hits the wall: You need a door stop. There are three types of door stops available, depending on the situation. The simplest is a solid or flexible stop with a screw on one end and a rubber cap on the other, which is screwed into a pilot hole that’s drilled into the door or into the baseboard.

Another style is a hinge stop, which is used when you want to stop the door before it can open far enough to contact a stop on a wall. To install this type of stop, remove the top or center hinge pin, slip it through the hinge stop, then reinstall the pin in the hinge.

The hinge stop has an adjustable rod that screws in and out to contact the door at different points, allowing you to stop the door’s swing exactly where you want it.

The third type is called a floor stop. Floor stops are attached directly to the floor, and are the strongest of all the stops, making them especially well suited for commercial applications. On the downside, because they sit directly on the floor, they can sometimes be in the way.

Floor stops typically have a long pin that fits into a predrilled hole in the floor for strength, along with a screw that secures it to the floor.

Remodeling and repair questions? Email Paul at paulbianchina@inman.com. All product reviews are based on the author’s actual testing of free review samples provided by the manufacturers.