Red hot home prices have more consumers saying now is a bad time to buy

People wait to visit a house for sale in Floral Park, Nassau County, New York.

Wang Ying | Xinhua News Agency | Getty Images

Anyone out hunting for a house knows that bidding wars are no longer the exception, but the rule.

Demand for housing has been unusually strong, due to the coronavirus pandemic, and supply is historically lean. That is a recipe for high prices, which are now beginning to take their toll on potential homebuyers’ confidence.

The share of buyers who say they think it’s a good time to buy fell in September, from 59% to 54%, according to a new survey from Fannie Mae.

Home values were up nearly 6% annually, according to CoreLogic, a data analytics firm. More consumers now expect those price gains to grow.

The percentage of respondents to the Fannie Mae survey who says prices will go up in the next year increased from 33% to 41%, while the share who said prices would go down decreased from 26% to just 17%.

More people do think now is a good time to sell a home, which is an improvement from the first months of the pandemic, when potential sellers didn’t want shoppers in their homes and worried about the state of the overall economy.

If seller sentiment improves substantially, that could help bolster supply and take away at least some of the heat in prices.  

“Going forward, we believe the wild card to be whether enough sellers enter the market to continue to meet the strong homebuying demand,” said Doug Duncan, Fannie Mae’s chief economist. “The home purchase market requires the proper mix of home price growth and continued economic recovery to achieve sustainable levels of housing activity.”

Falling mortgage rates have been driving buyers into the market, especially as rates set record

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Is it time to remodel that bathroom? | Home/Real Estate

Total renovations of 30- or 40-year-old bathrooms in Santa Fe account for a good chunk of DMC’s bread and butter. It’s not just about updating faucets and floors and showers; it’s also usually about going to a more clean, contemporary look. “Definitely,” said owner Douglas Maahs. “For us it is. Our customers seem to really want less stuff, cleaner lines, cleaner finishes.”

That shows up pretty dramatically in today’s color palette: cool, neutral grays with crisp whites. However, those choices are never made without reference to the house itself. “If there’s a lot of wood, we’ll go with warmer neutrals to complement the house,” he said. “Our philosophy is to make it look like it never happened. We try to stay within the confines of the design of the home and incorporate fresh, new design into that.”

The remodeling of bathrooms built in the 1980s and 1990s “seems to be a big window in the Santa Fe market,” Maahs said. “It’s getting rid of jetted tubs and deck tubs and a lot of freestanding tubs, even with our older clientele; they’re finding that they would much prefer that that freestanding tub look a little more contemporary, for a little more of an open feeling.

“People are really tearing out the old Jacuzzi tubs and wanting a simpler technology that is a little more bracing, including the new bubble-tub technology and the warming-tub technology.”

DMC often converts the old, standard 60-inch bathtub in the corner to a walk-in shower. “The philosophy of the real-estate agents is to keep at least one tub in the household. Whether that’s the main bedroom or the secondary bathroom, we do try and leave one. But some of our more mature clients really don’t care. They say, ‘We want the convenience and we don’t do soaking,’

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Decayed dream homes that time forgot

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Nestled on the rural outskirts of Harrodsburg, Kentucky, this captivating manor may be a little worse for wear but its grand façade still makes for an impressive sight. Built in the mid-1890s, the regal estate, named Ashfeld Manor, was purportedly commissioned by Colonel Daniel Lawson Moore for his wife, Minnie, following their marriage in 1891.

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Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article

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Abergwyngregyn homes hit by floods for second time

Flooded homeImage copyright
James Brown

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Flooding has hit homes at Abergwyngregyn for a second time

Homes have been flooded for a second time after a river burst its banks following heavy rain.

James Brown said his mother’s home and his neighbouring flat were flooded at Abergwyngregyn in Gwynedd on Sunday morning.

He said the properties were still being repaired after flooding in August.

Natural Resources Wales has issued two flood warnings in Ceredigion covering the River Rheidol in Aberystwyth and River Aeron at Aberaeron.

Several flood alerts are also in place across Wales.

A Met Office amber warning for heavy rain was lifted on Sunday at 12:00 BST after covering large parts of Wales since Saturday morning.

Mr Brown said he could only drive through the area with a tractor.

“It’s a raging torrent,” he said.

“The river has broken over a bank in the field. It’s the second time it has flooded the house and flat.”

In August, firefighters had to help six people to safety after flooding at Abergwyngregyn, which lies between Llanfairfechan and Bangor.

The nearby Aber Falls distillery was also flooded when the River Aber burst its banks.

Heavy rain has also brought flooding and travel disruption to other parts of the UK.

Highways officials from Traffic Wales said heavy rain was causing “difficult driving conditions” on the roads across its network.

BBC Wales meteorologist Derek Brockway said a wind gust of 50mph

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Banner Construction: This Is A Good Time To Have Hardie Siding Color Plus Installed – Press Release

James Hardie Siding

St. Louis, Missouri based Banner Construction is reaching out to share that this is the best time for homeowners to carry out any siding installation projects they have in mind. The contractor has a wealth of experience in the industry, and they are always eager to share the benefit of their expertise with their community.

Jessica Benbow of Banner Construction states, “If you are thinking about having James Hardie siding installed in your house, this time of the year is the best to get it scheduled. You get to avoid the long waiting times, as we are not too busy, as well as the cold winter weather. Your house will be in prime condition by the time the holidays roll around, giving it an outstanding, beautiful look that will increase its curb appeal.”

While most choose to install new siding for aesthetic reasons, the local contractors state that there are several other considerations that homeowners make when they decide they wish to replace a house’s siding. Being able to understand what one can get out of such an endeavor is important, for instance, and a crucial part of the success of an exterior remodeling project.

“When you install new siding, you are effectively protecting your home against certain weather conditions that can damage it over the years,” states Benbow. While this is a significant investment, it can end up saving homeowners a significant amount of money in the years to come.

She continues, “If you select the right material, your siding can last for a long time and save you thousands of dollars in repairs and maintenance — as long as it is installed properly. Premium siding can dramatically reduce your home maintenance, allowing you to spend your leisure time in better ways. The peace of mind that you get

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