8 Quick Fixes to Increase Value
To attract buyers, sellers must up the ante to convince them that their property offers what many want most — top value for dollar expended. Here are eight fast fixes:
1. Buff up curb appeal. You’ve heard it before, but it’s critical to get buyers to want to look on the inside. Be objective. View listings from the street. Check the condition of the landscaping, paint, roof, shutters, front door, knocker, windows, house number, and even how window treatments look from the outside. Add something special — such as big flower pots or an antique bench — to help viewers remember house A from B.
2. Enrich with color. Paint’s cheap, but forget the adage that it must be white or neutral. Just don’t get too avant-garde with jarring pinks, oranges, and purples. Use soft colors that say “welcome,” lead the eye from room to room, and flatter skin tones. Think soft yellows and pale greens. Tint ceilings a lighter shade.
3. Upgrade the kitchen and bathroom. These make-or-break rooms can spur a sale. But besides making each squeaky clean and clutter-free, update the pulls, sinks, and faucets. In a kitchen, add one cool appliance, such as an espresso maker. In the bathroom, hang a flat-screen TV to mimic a hotel.
4. Add old-world charm. Install crown molding at least six to nine inches in depth, proportional to the room’s size, and architecturally compatible. For ceilings nine feet high or higher, add dentil detailing, small tooth-shaped blocks used as a repeating ornament. It’s all in the details, after all.
5. Screen hardwood floors. Buyers favor wood over carpet, but refinishing is costly and time-consuming. Screening cuts dust, time, and expense. What it entails: a light sanding, not a full stripping of color or polyurethane, then a coat of finish.
6. Clean out, organize closets. Get sorting — organize your piles into “don’t need,” “haven’t worn,” and “keep.” Closets must be only half-full so buyers can visualize fitting their stuff in.
7. Update window treatments. Buyers want light and views, not dated, fancy-schmancy drapes that darken. To diffuse light and add privacy, consider energy-efficient shades and blinds.
8. Hire a home inspector. Do a preemptive strike, since busy home owners seek maintenance-free living. Fix problems before you list the home and then display receipts and wait for buyers to offer kudos to you for being so responsible.
Sources: Ernie Roth, Roth Interiors, Los Angeles; Angel Petragallo, ABR, Group One, Boise, Idaho; Melissa Galt, Galt Interiors, Atlanta; Steve Kleiman, CEO, Oakington Realty, Houston; Sid Davis, Sid Davis & Associates, Farmington, Utah, and author of First-Time Homeowners’ Survival Guide (Amacom, 2007); Steve Hochman, Friendly Note Buyers, Roxbury, N.Y.; Margi Kyle, designer and spokesperson for Hunter Douglas.
Tuesday, December 21, 2010
Thursday, December 16, 2010
Kalamazoo Housing Market Mixed
Published: Thursday, December 16, 2010, 1:40 PM
Updated: Thursday, December 16, 2010, 1:48 PM
By Olivia Pulsinelli | Business Review West Michigan
Although the housing market is not recovering as quickly as anyone would have hoped, Kalamazoo area brokers and builders have an optimistic outlook for 2011.
The Greater Kalamazoo Association of Realtors today released its monthly report for November, which included "somewhat encouraging housing news." With 260 units sold, November was up slightly from October's 252, but the association reported 184 fewer units sold year-to-date compared to the same time last year. And last month had 20 percent fewer units sold compared to November 2009.
The average selling price — $132,957 — was up slightly from October, and the total dollar volume was up 3.5 percent from November 2009.
“It is a welcome sight to see housing gains in units sold, average selling price, and total dollar volume in the greater Kalamazoo real estate market,” GKAR CEO Frank Mortl said in the report. “However, activity needs to improve further to reach healthy, sustainable levels.
"The local housing market is clearly in a recovery phase and will be uneven at times, but improving job conditions and the consequential boost to household formation will help the recovery process going into 2011.”
The past year was better than 2009 in many respects, though the market experienced a number of ups and downs throughout 2010.
“If there was ever a classic definition of ‘mixed-bag,’ it was 2010 housing in Kalamazoo,” Mortl said last week.
The year started solidly and improved in major metrics — homes sold, price and overall averages — then “the numbers fell off a cliff” once the first-time homebuyer tax credits expired June 30, Mortl said. Prices, however, have managed to stabilize in the second half of the year.
The average selling price in October 2010 was $132,502 — 13 percent higher than in October 2009. The relatively quick stabilization of prices was a pleasant surprise for Mortl and his association.
“As you look back historically, a lot of the indicators early on for a healthier housing market begin with price,” he said. “Once you’re able to stabilize the price numbers, that then triggers many other positive effects within the housing community. We’ve seen that. We’re just waiting now for that next progression.”
The year also was mixed for the Home Builders Association of Kalamazoo, Executive Vice President Dale Shugars said. Through the first three quarters of 2010, Kalamazoo County had 195 single-family home starts, compared to 247 for the same period in 2009.
“It’s a little bit better than that once you go out to some of the other communities,” Shugars said. “So it’s about the same as last year when you look at apartments and condominium starts and duplexes with it.”
The housing market still is facing many challenges, including strict lending regulations and continued high unemployment.
Another factor is uncertainty in Washington, which is creating uncertainty at the business level, Shugars said. But he’s hopeful that consumer confidence might be picking up a little.
“Apparently the retail sector is doing very well this Christmas season” early reports indicate, Shugars said. “If some of the things get straightened out in Washington, it could jumpstart a little bit of a recovery.”
Shugars and Mortl are seeing positive indicators locally, as well.
Interest rates are still at record lows, and materials prices are extremely low, as well, making it a good time to buy or build a home for those who can get a loan.
“Housing affordability is 60 percent higher than it was during the housing boom,” Mortl said.
Shugars saw increased entries and attendance at the parades of homes in Grand Rapids and Kalamazoo this year. He is getting a great response for exhibitors for the Home Expo 2011, which is in March in Portage.
“There’s no trends yet, but there’s a little bit of optimism because phone calls are starting to come to the builders asking for some quotes and estimates and that type of thing for new construction,” Shugars said. “So that’s something that’s probably better this year than it was last year.”
Updated: Thursday, December 16, 2010, 1:48 PM
By Olivia Pulsinelli | Business Review West Michigan
Although the housing market is not recovering as quickly as anyone would have hoped, Kalamazoo area brokers and builders have an optimistic outlook for 2011.
The Greater Kalamazoo Association of Realtors today released its monthly report for November, which included "somewhat encouraging housing news." With 260 units sold, November was up slightly from October's 252, but the association reported 184 fewer units sold year-to-date compared to the same time last year. And last month had 20 percent fewer units sold compared to November 2009.
The average selling price — $132,957 — was up slightly from October, and the total dollar volume was up 3.5 percent from November 2009.
“It is a welcome sight to see housing gains in units sold, average selling price, and total dollar volume in the greater Kalamazoo real estate market,” GKAR CEO Frank Mortl said in the report. “However, activity needs to improve further to reach healthy, sustainable levels.
"The local housing market is clearly in a recovery phase and will be uneven at times, but improving job conditions and the consequential boost to household formation will help the recovery process going into 2011.”
The past year was better than 2009 in many respects, though the market experienced a number of ups and downs throughout 2010.
“If there was ever a classic definition of ‘mixed-bag,’ it was 2010 housing in Kalamazoo,” Mortl said last week.
The year started solidly and improved in major metrics — homes sold, price and overall averages — then “the numbers fell off a cliff” once the first-time homebuyer tax credits expired June 30, Mortl said. Prices, however, have managed to stabilize in the second half of the year.
The average selling price in October 2010 was $132,502 — 13 percent higher than in October 2009. The relatively quick stabilization of prices was a pleasant surprise for Mortl and his association.
“As you look back historically, a lot of the indicators early on for a healthier housing market begin with price,” he said. “Once you’re able to stabilize the price numbers, that then triggers many other positive effects within the housing community. We’ve seen that. We’re just waiting now for that next progression.”
The year also was mixed for the Home Builders Association of Kalamazoo, Executive Vice President Dale Shugars said. Through the first three quarters of 2010, Kalamazoo County had 195 single-family home starts, compared to 247 for the same period in 2009.
“It’s a little bit better than that once you go out to some of the other communities,” Shugars said. “So it’s about the same as last year when you look at apartments and condominium starts and duplexes with it.”
The housing market still is facing many challenges, including strict lending regulations and continued high unemployment.
Another factor is uncertainty in Washington, which is creating uncertainty at the business level, Shugars said. But he’s hopeful that consumer confidence might be picking up a little.
“Apparently the retail sector is doing very well this Christmas season” early reports indicate, Shugars said. “If some of the things get straightened out in Washington, it could jumpstart a little bit of a recovery.”
Shugars and Mortl are seeing positive indicators locally, as well.
Interest rates are still at record lows, and materials prices are extremely low, as well, making it a good time to buy or build a home for those who can get a loan.
“Housing affordability is 60 percent higher than it was during the housing boom,” Mortl said.
Shugars saw increased entries and attendance at the parades of homes in Grand Rapids and Kalamazoo this year. He is getting a great response for exhibitors for the Home Expo 2011, which is in March in Portage.
“There’s no trends yet, but there’s a little bit of optimism because phone calls are starting to come to the builders asking for some quotes and estimates and that type of thing for new construction,” Shugars said. “So that’s something that’s probably better this year than it was last year.”
Wednesday, November 10, 2010
Kalamazoo/Portage Real Estate is on the Rise!
Interest rates are at an ALL TIME LOW and Buyers are taking notice!
If you have been thinking about selling your home, now is the time.
There is no such thing as a seasonal trend in real estate...do not hesitate to put your home on the market before the holidays, the Buyers are out there now!
Contact us today for market details for your area, or to schedule a pricing consultation. We can help you get your house sold for the best price and in the least amount of time!
If you have been thinking about selling your home, now is the time.
There is no such thing as a seasonal trend in real estate...do not hesitate to put your home on the market before the holidays, the Buyers are out there now!
Contact us today for market details for your area, or to schedule a pricing consultation. We can help you get your house sold for the best price and in the least amount of time!
Sunday, October 24, 2010
Catching Up With: Dan Jaqua, President and Owner of Jaqua Realtors
Alex Nixon, Kalamazoo Gazette
October, 24, 2010
Dan Jaqua has spent his entire career in real estate and has no interest in doing anything else.
“You’re constantly with people and constantly challenged,” said Jaqua, president and owner of Jaqua Realtors.
“And that’s what will keep me in the business for the next 30 years.”
Fresh out of the University of Michigan in 1991, Jaqua started in the agency his father had opened in 1975.
In 1998, the company began a multi-year transition that ended with Jaqua as full owner in 2000.
“It was a two- to three-year rolling transition,” he said.
Ten years later, Jaqua Realtors is the largest independent real estate brokerage in the region, with 150 agents and five offices.
And, Jaqua says, it’s more than a traditional real estate agency. The company offers what Jaqua calls a “Family of Services,” which “allows us to fully address the needs of our clients including mortgage, title, insurance, property management, and home services.”
Jaqua is an owner or partner is several related businesses, including Summit National Mortgage, Arcadia Insurance Services, Southwest Michigan Title, Vacation Places and Rentals, Jaqua Property Management, and Southwest Michigan Resources Concierge Service.
“It’s really a national trend where people are utilizing a concept of creating a more consistent and controlled experience in homebuying,” Jaqua said.
Jaqua, who was born in Kalamazoo in 1968, is married and has three daughters.
A book on his nightstand?
“Good to Great” by Jim Collins.
Who gave you the best piece of life advice and what was it?
“My dad gave me the best piece of advice: ‘Surround yourself with the best people.’ I have grown and learned so much from others.”
What’s been your biggest professional success?
“In a family owned business, transition from one generation to another can be difficult. Not with ours. I take great pride in the fact that I have been able to maintain the guiding principles my father implemented at inception, but have also continued to advance the company through innovation and forward thinking.”
Tell us something about your company that would surprise people?
“We are highly active in continuing our success and growth even during the current housing market. People are buying and selling and we are there to guide them through the process. We recently added a new home services concept to our line of services, offering clients options for movers, painters, electricians, and other home professionals. This is an outstanding addition to our ‘Family of Services,’ which also includes mortgage, title, insurance, and property management.”
What’s the biggest challenge your company faces?
“Very simple — letting people know the depth of our services. I no longer see Jaqua agents as only Realtors. We are home service providers. We serve as a trusted advisor in every aspect of housing transition. We are truly focusing on elevating the customer experience.”
If you could have lunch with any famous person, who would it be and why?
“Duke basketball coach Mike Krzyzewski. He has such an extraordinary way in which he rallies his team together. His dynamic coaching abilities seem to reach beyond the basketball court, creating a culture of excellence and passion for success. I foster that business environment everyday so others realize success and want to be a part of our company, a member of our team. Coach K’s insight would be extraordinary.”
__________________________________
Meghan and I have been proud members of the Jaqua Realtor family since 1996. If you would like more information on the services that Jaqua provides, please contact us. We will be happy to assist you!
Wednesday, October 20, 2010
5 Reasons You Should Sell Your House TODAY!
From : The KCM Group, October 19, 2010If you are looking to sell your home in the next 90 days here are some compelling reasons as to why now is the time to SELL!
1. At this time of year, the buyers are more serious. The buyers that are out there right now are serious and ready to buy.
2. If you are moving up, you can save thousands. Home prices have fallen significantly in recent years. This could translate into a bigger house, a different neighborhood or a better school district.
3. Interest rates are at an all-time low. The experts are pointing to the interest rates beginning to rise in 2011, now is the time to take advantage of these historic rates.
4. You will beat the rush of inventory that is coming next year. Every year there is an increase of inventory which comes to the market from January through April, the Spring market. You won't have to worry about this increase in competition if you sell now.
5. You have less "discounted" inventory with which to compete. While moratorium of forecloses lasts, every homeowner will have a better chance of selling their property.
If you are looking to sell in the near future, there may not be a more opportune time than this Fall. Serious buyers, great move-up deals and less competition from foreclosures creates the perfect selling situation. Don't miss it!!
Friday, October 1, 2010
A Roundabout for Texas Township?
October 01, 2010
Jinny M. Ahrens, Realtor
That's right! Due to heavy traffic and the concern for the angle of which Texas Drive intersects Milham Road, the township is considering redesigning the busy intersection into a roundabout! The plans can be viewed on the Kalamazoo County Road Commission web site at http://www.kcrc-roads.com/.
The funding for the project will come from a federal grant and if that grant comes through the project could begin as early as June 2011. Stay tuned to this Blog for updates!
Monday, September 20, 2010
Are you a First Time Home Buyer?
Have you been wondering if it’s the right time to buy a home? Good news: Now is the perfect time to buy your first home! Several factors are combining to create good situations for many first time home buyers, here are just a few…
Mortgage rates are historically low.
The average interest rate on long-term, fixed rate mortgages remains at historic lows and well below the 9.2% average of the past 35 years.
An increase in mortgage interest rates can dramatically affect the amount of home you can purchase.
For example, assume you want a monthly mortgage payment of approximately $850. At a 5% mortgage rate, this would translate to a $125,000 home. If the rate rises to 8%, your purchasing power drops to $97,000.
Homeownership is a solid long-term investment.
National home prices have appreciated at a 5.5% average annual rate over the past 33 years. Sure, there have been wide variations in local markets and over short periods of time, but, by and large, if you plan to remain in your home for several years, history is on your side.
Time in the market is more important than timing the market.
It’d be terrific to know just when the housing market is going to bottom out and buy property then. But no one has that ability. A good strategy is to simply get in the market, make that home purchase. Today’s low mortgage rates are making that very easy for you!
Take the next step toward home ownership.
If you’re interested in buying a home but not sure about the details, then contact us. We can assist you in making your dream of home ownership a reality.
Jinny M. Ahrens and Meghan Reynolds, Realtors®
Monday, September 13, 2010
Local Events this week…
THURSDAY
The state of WMU
Western Michigan University President John Dunn will deliver his annual State of the University address at 3:30 p.m. Thursday in the Dalton Center Recital Hall. For more information, go to www.wmich.edu.
“The Detroit Electric Scheme”
Schoolcraft author D.E. Johnson will read from his new murder mystery from 6 to 8:30 p.m. Thursday at the Portage District Library, 300 Library Lane, Portage. The event is free and open to the public. For more information, go online to www.portagelibrary.info or call 269-329-4542, ext. 710.
FRIDAY
“A Closer Walk with Patsy Cline”
Farmers Alley Theatre opens its season with a musical starring Lana Hawkins as the iconic country singer Patsy Cline. Performances are at 8 p.m. Friday and 2 p.m. Sunday. The production runs through Oct. 3 at Farmers Alley Theatre, 221 Farmers Alley, in downtown Kalamazoo. Tickets are $29 to $25, or $27 to $23 for seniors. For more information, go online to www.farmersalleytheatre.com or call 269-343-2727.
SATURDAY
Broncos hosts Rockets
Western Michigan University’s football team will try to back up Saturday’s win over Nicholls State in its opener when the Broncos host the Toledo Rockets in their Mid American conference opener at 7 p.m. Saturday at Waldo Stadium. For more information, go to www.wmubroncos.com.
Portage Community Center’s 26th Annual Peacock Strut
5K, 10K, and the 1 mile Kids Fitness Caper - For more information please visit, www.portagecommunitycenter.org
SUNDAY
Community Harvest Fest
An annual celebration of local food, farming and music will be held from 11:30 a.m. to 6:30 p.m. Sunday at Tillers International, 10515 East OP Ave., Scotts. Admission is $10 per carload. For more information, go to www.fairfoodmatters.org.
“Journey to Japan”
Families can explore Japanese culture through origami, calligraphy and fish prints from 2 to 4 p.m. Sunday at the Kalamazoo Institute of Arts, 314 S. Park St. The event is free. For more information, call 269-349-7775 or look online at www.kiarts.org.
THURSDAY
The state of WMU
Western Michigan University President John Dunn will deliver his annual State of the University address at 3:30 p.m. Thursday in the Dalton Center Recital Hall. For more information, go to www.wmich.edu.
“The Detroit Electric Scheme”
Schoolcraft author D.E. Johnson will read from his new murder mystery from 6 to 8:30 p.m. Thursday at the Portage District Library, 300 Library Lane, Portage. The event is free and open to the public. For more information, go online to www.portagelibrary.info or call 269-329-4542, ext. 710.
FRIDAY
“A Closer Walk with Patsy Cline”
Farmers Alley Theatre opens its season with a musical starring Lana Hawkins as the iconic country singer Patsy Cline. Performances are at 8 p.m. Friday and 2 p.m. Sunday. The production runs through Oct. 3 at Farmers Alley Theatre, 221 Farmers Alley, in downtown Kalamazoo. Tickets are $29 to $25, or $27 to $23 for seniors. For more information, go online to www.farmersalleytheatre.com or call 269-343-2727.
SATURDAY
Broncos hosts Rockets
Western Michigan University’s football team will try to back up Saturday’s win over Nicholls State in its opener when the Broncos host the Toledo Rockets in their Mid American conference opener at 7 p.m. Saturday at Waldo Stadium. For more information, go to www.wmubroncos.com.
Portage Community Center’s 26th Annual Peacock Strut
5K, 10K, and the 1 mile Kids Fitness Caper - For more information please visit, www.portagecommunitycenter.org
SUNDAY
Community Harvest Fest
An annual celebration of local food, farming and music will be held from 11:30 a.m. to 6:30 p.m. Sunday at Tillers International, 10515 East OP Ave., Scotts. Admission is $10 per carload. For more information, go to www.fairfoodmatters.org.
“Journey to Japan”
Families can explore Japanese culture through origami, calligraphy and fish prints from 2 to 4 p.m. Sunday at the Kalamazoo Institute of Arts, 314 S. Park St. The event is free. For more information, call 269-349-7775 or look online at www.kiarts.org.
Monday, September 6, 2010
Kalamazoo Home Safe Home Party
Kalamazoo Home Safe Home Party
September 18, 2010
10:00am - 12:00pm
The Michigan Network for Children's Environmental Health is organizing a Home Safe Home Party in Kalamazoo. The Party will help families learn about ways to reduce their exposure to toxic household chemicals. Attendees will have the opportunity to make their own homemade non-toxic cleaning products, and if they bring in children's toys or products they can be tested for toxics, like Lead and Cadmium.
This event is FREE and open to the public.
If you have any questions, please contact Jennifer Canvasser at jennifer@ecocenter.org. For more information, visit www.MNCEH.org. I hope you are able to attend!
Anna Whitten Hall Room 128
202 North Rose Street, Kalamazoo, MI 49007
1-734-761-3186 ext. 115
FREE AND OPEN TO THE PUBLIC
Tuesday, August 24, 2010
Kalamazoo College Ranked Among Nation's Top Liberal Arts Institutions
Published: Monday, August 23, 2010, 10:45 AM
Paula M. Davis Kalamazoo Gazette
KALAMAZOO -- Appearing on the list at 71, Kalamazoo College was the highest ranked liberal arts college in Michigan in U.S. News & World Report’s recently unveiled America’s Best Colleges 2011.
WIlliams College in Massachusetts led the list in the national liberal arts ranking, in which institutions appear as “top schools,” “tier 2” schools or “unranked schools.” “K” is considered a top school.
The Michigan liberal arts colleges following K-College in the “top schools” tier were:
•Hillsdale College, 88th
•Hope College, 88th
•Calvin College, 101st
•Albion College, 111th
•Alma College, 137th
Paula M. Davis Kalamazoo Gazette
KALAMAZOO -- Appearing on the list at 71, Kalamazoo College was the highest ranked liberal arts college in Michigan in U.S. News & World Report’s recently unveiled America’s Best Colleges 2011.
WIlliams College in Massachusetts led the list in the national liberal arts ranking, in which institutions appear as “top schools,” “tier 2” schools or “unranked schools.” “K” is considered a top school.
The Michigan liberal arts colleges following K-College in the “top schools” tier were:
•Hillsdale College, 88th
•Hope College, 88th
•Calvin College, 101st
•Albion College, 111th
•Alma College, 137th
Monday, March 1, 2010
Real Estate Outlook: Reading the Numbers
by Kenneth R. Harney - Sun, Feb 28, 2010
When it comes to the current housing recovery, never assume the path leads straight up.
That's just not the way it's playing out.
As the economic and real estate numbers this week suggest, it's more like two steps forward, one step back, one step sideways.
The new quarterly home price numbers released last week by Standard & Poor's Case Shiller index show we're headed toward gradual improvement on a national basis -- and a lot better than that in key metropolitan markets.
On a seasonally-adjusted basis, Case-Shiller's 20-city index was up three tenths of a percent -- the seventh consecutive monthly improvement in pricing. Fifteen of the 20 cities in the survey posted positive price appreciation last quarter.
Check out some of the increases Case Shiller measured in the largest urban markets -- a five percent gain year over year for prices in San Francisco, three percent for the year in Dallas and San Diego, plus higher than average jumps in metropolitan Washington DC, Boston and Denver.
Even hard-hit Las Vegas and Phoenix saw small increases in the new report, despite the ongoing high percentage of total sales transactions involving defaulted and foreclosed properties.
Mortgage giant Fannie Mae also came out with its latest forecast -- and sees gradually improving conditions in the months ahead.
Fannie's chief economist Doug Duncan said that despite temporary setbacks in sales in any given month, the underlying reality in the marketplace is that the employment situation, slowly but surely, is getting better, and is likely to continue to do so.
Duncan is particularly impressed by the creation of 540,000 new jobs for households nationwide in January, and a shift by employers away from part-time positions to full time.
"The upswing in employment data means positive news for economic growth," said Duncan. "Better financial strength for households makes it easier for people to make payments and more likely they'll buy houses."
Okay, that's the bright side of the picture this week. Now for some sobering, one-step-backwards news: Builders saw sales of newly-constructed homes in January plunge by 11 percent - hitting their lowest level in decades, according to the Commerce Department.
No question that some of that was caused by the bad weather that pounded much of the country recently. But part of the steep decline also signals caution on the part of potential buyers, who still aren't sure whether we've seen the bottom in prices.
Mortgage rates certainly aren't keeping buyers away, though. Thirty year fixed rates averaged just over 5 percent last week, according to the Mortgage Bankers Association, while 15 years rates averaged 4.4 percent. Today's Local Market Conditions Report
by Kenneth R. Harney - Sun, Feb 28, 2010
When it comes to the current housing recovery, never assume the path leads straight up.
That's just not the way it's playing out.
As the economic and real estate numbers this week suggest, it's more like two steps forward, one step back, one step sideways.
The new quarterly home price numbers released last week by Standard & Poor's Case Shiller index show we're headed toward gradual improvement on a national basis -- and a lot better than that in key metropolitan markets.
On a seasonally-adjusted basis, Case-Shiller's 20-city index was up three tenths of a percent -- the seventh consecutive monthly improvement in pricing. Fifteen of the 20 cities in the survey posted positive price appreciation last quarter.
Check out some of the increases Case Shiller measured in the largest urban markets -- a five percent gain year over year for prices in San Francisco, three percent for the year in Dallas and San Diego, plus higher than average jumps in metropolitan Washington DC, Boston and Denver.
Even hard-hit Las Vegas and Phoenix saw small increases in the new report, despite the ongoing high percentage of total sales transactions involving defaulted and foreclosed properties.
Mortgage giant Fannie Mae also came out with its latest forecast -- and sees gradually improving conditions in the months ahead.
Fannie's chief economist Doug Duncan said that despite temporary setbacks in sales in any given month, the underlying reality in the marketplace is that the employment situation, slowly but surely, is getting better, and is likely to continue to do so.
Duncan is particularly impressed by the creation of 540,000 new jobs for households nationwide in January, and a shift by employers away from part-time positions to full time.
"The upswing in employment data means positive news for economic growth," said Duncan. "Better financial strength for households makes it easier for people to make payments and more likely they'll buy houses."
Okay, that's the bright side of the picture this week. Now for some sobering, one-step-backwards news: Builders saw sales of newly-constructed homes in January plunge by 11 percent - hitting their lowest level in decades, according to the Commerce Department.
No question that some of that was caused by the bad weather that pounded much of the country recently. But part of the steep decline also signals caution on the part of potential buyers, who still aren't sure whether we've seen the bottom in prices.
Mortgage rates certainly aren't keeping buyers away, though. Thirty year fixed rates averaged just over 5 percent last week, according to the Mortgage Bankers Association, while 15 years rates averaged 4.4 percent. Today's Local Market Conditions Report
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