Thursday, January 8, 2015

Whats Hot and Whats not in New Home Ammenities...





An upscale kitchen and an upgraded bathroom can practically sell a home. But a few other “must-have” amenities might surprise you. 
Must-haves
Huge closets. In a recent survey by the National Association of Home Builders, builders and remodelers said the single, most-requested amenity is a walk-in closet in the master bedroom. In a survey of 1,000 homeowners, 31% said they would happily sacrifice some other household feature for his-and-hers closets in the master bedroom.
Most new homes feature at least a couple of walk-in closets, but house hunters want them bigger and more elaborate. Copper Creek Homes includes a power outlet in all master bedrooms, to power cell phones, or Irons.
An efficient laundry room. Second on the house-hunters’ wish list is a state-of-the-art laundry room, according to the NAHB survey of 400 homebuilders. "A good walk-in closet or laundry room might not be sexy, but they do make a household run better—and what's the point of moving to a [newly built] home if it's not going to make your life easier?" asked Stephen Melman of the National Association of Home Builders’ surveys and housing research division.
Homebuyers are looking for laundry rooms with skylights, built-in ironing boards, room for folding clothes, storage and upgraded appliances.
Energy-efficient everything. That includes low-e windows, programmable thermostats and Energy Star appliances, which will save the homebuyer money on future energy bills. Copper Creek Homes also uses open web trusses allowing the duct system to be in an insulated space making the home more energy efficient.
A great room. Much more than a dining room, the absence of a great room is a deal-breaker for many would-be homebuyers. The bigger and brighter, the better, the NAHB study revealed, especially for couples with children who live at home.
Nine-foot ceilings. This family favorite is only for the first floor. Buyers are asking their builders for the elevated ceilings—the standard is eight feet high—to open up living rooms, dining rooms and other shared spaces. Copper Creek Homes in Vancouver WA includes as a standard Nine-foot ceilings.
Outside the box
Here are three design changes we as homebuilders consider as we market our product to nontraditional buyers with once-uncommon needs:
Mother-in-law suites. About one in six Americans lives in a multigenerational home, according to the public policy group Generations United. Builders are responding by designing homes to include small apartments or extra-large suites so middle-age homeowners can invite their older parents or adult children to live with them.
Tandem Garages. To be used for storage, shops. or general work space great for lots that are narrow and wont hold a traditional 3 car garage.
Safe rooms. In Oklahoma, Louisiana, Texas and other tornado- and hurricane-torn states, storm shelters are becoming so common that many builders offer them as standard fare.
The rooms’ walls often are made from brick or concrete, have no windows and feature steel doors.  
In Washington, IL, population 15,000, a November 2013 tornado damaged or destroyed  more than 250 buildings and injured 120 people. The city estimatesthat at least 10% of the replacement homes will have safe rooms.
Worth the sacrifice
Homebuyers surveyed said that they would sacrifice a location near public transportation, or better schools or proximity to entertainment and shopping—and would gladly pay more—for these five home features:
  • His-and-hers closets in the master bedroom.
  • A spa-like master bathroom.
  • A large eat-in kitchen.
  • A kitchen island.
  • A bathtub.
"Consumers today aren't just looking for the biggest house on the block,”  “They're looking for more efficient use of space and a greater area allocated to 'workhorse' spaces, like the kitchen."
In a separate survey by the National Association of Home Builders, most buyers said they would pay more for an environmentally friendly home, once surveyors explained how much less the home’s utility bills would cost. That’s a switch from typical surveys, which have shown that homeowners say they want “green” features in their new homes—until they’re asked how much more they would pay for them. Then, the amenities become less important.
Can live without
What’s hot and what’s not can change as quickly as the weather. Here are five expensive features that house hunters once believed they couldn’t live without—and now wouldn’t spend a dime extra to get them, according to the National Association of Home Builders.
1. The cathedral ceiling over a family room. Too costly to heat and cool, the high-ceilinged rooms lost favor with homebuyers looking for something a bit warmer and cozier.
2. The sunroom. Nice to have but not necessary, sunrooms still have their place in cold-weather climates because they let a lot of light into the house on dark days. But elsewhere, they’ve fallen out of favor.
3. The outdoor fireplace. In warm climates, where it’s comfortable to hang out on the patio for nine months out of every year, fireplaces once made crisp fall evenings outdoors even more appealing. Still, it’s an easy feature to cut when budgets are tight.
4. The outdoor kitchen. Among the most lavish upgrades to a home, the fully equipped second kitchen—located outside on an oversized patio—doubled as a convenience and a status symbol. But the indoor kitchen works just as well when money is tight.
5. Laminate kitchen countertops. This amenity is much more affordable than its natural-stone competitors—yet it’s as “out” as a feature can be. Today’s homeowners want natural, more upscale materials in their kitchens, the NAHB survey of builders revealed.
"A lot of it has to do with the bottom line," says NAHB’s Melman. "Consumers are asking: 'Is this something I can cross out and still enjoy my new home?'"

Tuesday, December 9, 2014

Fannie and Freddie 3% Down Program!

Bank of America Chief Executive Brian Moynihan told a conference recently that his bank was unlikely to participate.
"I don't think there's a big incentive for us to start to try to create more mortgage availability where the customers are susceptible to default," Moynihan said last month.
The Federal Housing Finance Agency, which regulates Fannie and Freddie, announced its intent to launch the programs in October. Director Melvin Watt said Monday that the 3% down-payment programs come with strong underwriting standards that ensure sound lending practices.
Borrowers can already tap a variety of low-down-payment mortgage programs, including those backed by the Federal Housing Administration and Veterans Administration, along with those from various state housing finance agencies, including California's.
But some of those loans carry higher fees or mortgage insurance premiums that can make them costlier than conventional mortgages. The new programs from Fannie and Freddie would enable more creditworthy borrowers, even those with lower incomes, to avoid high fees and pay less for private mortgage insurance.
Since 2011, Freddie Mac has required at least a 5% down payment on loans it guarantees.
Fannie Mae, starting late last year, required a 5% down payment for most mortgages it backed, but still offered to back loans with a 3% down payment made through some state housing finance agencies.
The Federal Housing Finance Agency said the 3% down payment loans would be a small portion of the firms' portfolios.
Fannie Mae and Freddie Mac will offer somewhat different programs.
Fannie Mae's program, which begins Saturday, will be available to anyone who has not owned a primary residence for three years. Private mortgage insurance will be required.
Borrowers with Fannie Mae mortgages will be able to refinance under the program and can take out up to $2,000 to cover closing costs but will not be allowed to remove equity from their home.
Freddie Mac's program, called Home Possible Advantage, will begin in March. It is open to anyone who meets certain requirements, but first-time home buyers must participate in a homeownership education and counseling program.
Homeowners with Freddie Mac mortgages could also refinance under the program, but would not be able to take any cash out as part of the process.
Fannie Mae and Freddie Mac were seized by the government in 2008 as they teetered near bankruptcy because of bad mortgages they backed.
Taxpayers pumped $187.5 billion into the companies to keep them afloat. But as the housing market has rebounded, Fannie Mae and Freddie Mac have returned to profitability.
This year, the firms finished repaying all the bailout money through quarterly dividend payments to the government. They have continued making billions of dollars in dividend payments, helping reduce the government's overall budget deficit.

Thursday, December 4, 2014

10 Easy Tasks to Winterize your PNW Home by Copper Creek Homes



10 EASY TASKS TO WINTERIZE YOUR PACIFIC NORTHWEST HOME

 by Copper Creek Homes



We were fortunate to have a beautiful, extended summer here in the Pacific Northwest, but over the last few weeks, fall has definitely be in full swing. With the long summer and short fall, it leaves only a little time to get your home prepared for winter. The cold weather is here! You will need to take care of some winter-proofing around your home. Failure to properly winterize your home can cost you hundreds of dollars in repairs not to mention the frustration of dealing with high heating bills! Below are 10 tips that will save you time and keep your home functioning!
1. If you use wood heat, you need to clean your chimney and inspect it for any damages that could cause a fire. You can also hire a service to take care of this task if you are not comfortable doing so. It is a fairly simple task that involves sticking a long brush down the length of the chimney.
2. Take care of any gaps around your windows and doors. You can buy self-sticking insulation strips that will seal the area or use caulking. Both are very easy fixes and fairly inexpensive.
3. If you don’t have a carbon monoxide detector, please consider buying one. If you use gas heat, these are important safety devices that will ensure your family is not exposed to toxic levels of carbon monoxide caused by a plugged flue or gas leak.
4. Replace the batteries in your smoke detectors. Space heaters and wood stoves are some of the main causes of home fires. You want to make sure your detectors are in good working order this winter when space heaters and wood stoves are going to be used often.
5. Fall is a great time to flush your water heater. This will help extend the life of the water heater and make it more energy efficient. When it is cold out, hot showers are going to be in high demand!
6. Switch your ceiling fan to spin clockwise, which will force the hot air that rises to the ceiling back down into your living space.
7. Replace the filters in your furnace. This will make the furnace more energy efficient and prevent breakdowns in the middle of a cold snap.
8. Purchase draft guards for doors that lead to the outdoors. These help block out those cold breezes that waft in from under the door.
9. Consider adding a layer of insulation to your attic and crawl space. This can help keep your home warmer in the winter and cooler in the summer.
10. If you have a fireplace that you don’t use, buy a chimney balloon that will stop cold drafts from coming down the chimney and chilling your room.