Housing Gains Predicted

More modest gains are likely this year, according to the most recent Kiplinger Letter forecast. The national average of appreciation in home values will be up 4 percent-4.5 percent, compared with a gain over 11 percent in 2013.

The top stated reason for this increase is rising mortgage rates, will increase to 5 percent or so for 30-year fixed rate loans by the end of the year. Another possible is that fewer investors are offering all-cash deals, with bargain prices and.

The Kiplinger letter forecasts that new-home building will accelerate again, helping to offset the construction drought of 2008-2012. Keep an eye out for housing starts this year to climb by 15 percent and top 1 million for the first time since 2007. Sales of new homes are predicted to be a bright spot.

Another prediction: More existing homes will go up for sale, as price hikes pull homeowners out from mortgages that are underwater, making them more willing to sell. Sales will climb by 4 percent, but inventory won’t be as tight.

Affordability, though declining, is still better than the historical norm: A median-price home costing 20 percent of household income. In 2013, it took just 15 percent of income to buy an equivalent home. When mortgage rates rise to 5 percent, it will cost 17 percent of income.

More moderate growth this year is not necessarily bad news, it signals a more sustainable, long-term growth trajectory that will help quell fears that another bubble is arising.

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Home Prices of Normal Sales Up 0.3% in December

The latest FNC Residential Price Index™ (RPI) shows U.S. home prices continue to rise. As of December, the RPI indicates the fastest year-over-year growth since the recovery began in early 2012. The index, constructed to gauge price movement among normal home sales exclusive of distressed properties, was up 0.3% in December—outperforming the overall price movement in the single-family housing market. Unlike overall price measures that include distressed sales (which recently have shown signs of weakening), home prices of normal sales have been rising at steady and sustainable levels—about 0.3-0.5% per month.

Based on recorded sales of normal, non-distressed properties (existing and new homes) in the 100 largest metropolitan areas, the FNC national composite index shows that, in December, home prices rose at a seasonally unadjusted rate of 0.3%, essentially maintaining the same pace achieved since September.

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The future of lighting

Wi-Fi-connected, long-lasting LED bulbs are breaking ground in the lighting industry. Instead of flipping a switch, one day you may just need to flip an app on your smartphone or tablet.

These bulbs not only aim to smarten up lighting in homes with “mood” lighting, but also provide another option to those who may not be fans of the “uninviting” light that standard energy-saving LED, compact fluorescent, and halogen bulbs put out.

Smart bulbs are not only energy efficient but they can be controlled by a person’s smartphone and offer different lighting settings that can be set to your mood.

One debut from Philips — the Hue smart bulb – lets you control your wireless lighting from an app on a smartphone or tablet. You can dim the lights and even use different color lighting schemes to serve as mood lighting. The bulbs also come with preset lighting settings that aim to help you better concentrate, read, or relax too.

Belkin’s WeMo Smart LED Bulb — a 60-watt equivalent LED bulb — also got a lot of attention at this year’s CES. It works with an app for IOS and Android smartphones, and the bulbs can last up to 23 years. The bulbs are fully dimmable and can be scheduled to dim at certain times. For example, you can set the lights to gradually dim as you fall asleep. The lights emit a warm white light that is more similar to incandescent bulbs.

Lumen Smart Bulb can turn on when it just senses your mere presence 50 feet away. It can also be set to flash the lights to alert you about an incoming phone call.

But one big barrier smart bulbs may still need to overcome before heading mainstream: The cost. Smart bulbs aren’t cheap, especially compared to other lighting options. For example, Lumen’s smart bulbs are about $70 each, and Belkin’s WeMo Smart LED Bulbs sell for about $39.99 each.

But could this be the future of lighting? Several manufacturers believe smart bulbs could also pave the way for a fully connected home from your smartphone — one that encompasses all your appliances and home’s systems, not just your lights.

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HAPPY 2014!!!!!

Enjoy...

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HAPPY HOLIDAYS!

Esplanade at City Park apartments sell for $54.5M

Located in Mid-City on Bayou St. John, situated between City Park and the New Orleans Fairgrounds, The Esplanade at City Park offers a remarkable location with valuable, unmatched amenities. Utilities and gated parking are included. Other activities and features include a fitness center, business center, movie screening room, yoga and pilates, and a Wii Game Room.
A Florida investment group has sealed the deal!
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