Top Landscaping Trends for 2017

Top Landscaping Trends for 2017

Smart technology, thoughtful — yet simplistic — design, and sustainability are the keywords when it comes to landscapes today.

“Savvy homeowners are seeking smart landscape solutions, which means we’re finding new ways to adapt to environmental elements, making continued advances in technology and taking outdoor living to the next level,” says Missy Henriksen, vice president of public affairs at the National Association of Landscape Professionals. “At the same time, a return to simple plantings reflects that although innovation in landscaping continues to accelerate, savoring the effortless beauty of the outdoors remains a top priority.”

The National Association of Landscape Professionals released their list of the top trends to watch in landscapes this year:

1. Incorporating a variety of greenery. Greenery isn’t just Pantone’s Color of the Year for 2017 but the color is adding pop to exteriors too. “Combining greenery of various textures and shades, such as a formal hedge of green velvet boxwood, a border of green lilyturf, and dense Boston ivy-covered trellises, is just as impactful as a garden filled with a rainbow of colorful flowers,” NALP notes.

2. Infusing “hygge.” Hygge is a Danish concept that is centered on creating an atmosphere of coziness and embracing the simple pleasures of life. “Decorating with light, arranging seating for close-knit conversations, planting aromatic flowers, and adding water features to encourage mindfulness are a few ways to integrate hygge into landscapes, and to find more enjoyment and fulfillment in outdoor spaces,” NALP notes.

3. Cooking up tech-centered outdoor kitchens. More homeowners are adding exterior kitchens, but they’re going beyond your basic grilling station and dining set. Outdoor kitchens are now including smart home technology, such as built-in consoles on refrigerator doors, mobile app-controlled LED lighting, and ovens integrated with Wi-Fi.

4. Combining materials. More landscapes are interweaving several forms of hardscape materials, such as pebble paths with stone planters or wooden decks with iron gates and railings. The pairings of different materials are creating a less formal look to landscapes, NALP notes.

5. Adding pollinator gardens. “Increased attention on the importance of pollinators to our ecosystem has inspired homeowners to develop gardens that specifically attract vital honeybees, hummingbirds, and butterflies,” NALP notes. “More homeowners are asking landscape professionals how to select native plantings that are abundant, year-round nectar sources throughout their yards, and the best ways to maintain these natural havens.”

6. Creating smart lawns. Landscape professionals have made advancements in developing cultivated grass varieties, called cultivars, that are known as being a form of smart grass. “They can better withstand the elements while still delivering an aesthetically beautiful and healthy lawn, making them especially desirable in drought-prone areas,” NALP notes.

Source: National Association of Landscape Professionals

Give Second Thought to the TV Home Makeover

Give Second Thought to the TV Home Makeover

Some homeowners who sign up to have their homes redecorated and remodeled on a reality TV are having regrets. They say they got stuck paying thousands of dollars later on due to the TV renovations.

Attorneys warn: You have to read the fine print before agreeing to these TV shows. On these reality decorating shows, homeowners aren’t often in complete control over what happens to their home. They may not like the design in the end. Further, to meet production schedules, work often has to be rushed and when a mistake is made, the homeowner may get stuck footing the bill, particularly after the cameras have stopped rolling.

Another lesson these homeowners are learning: Bigger tax bills. They may be forced to pay a higher tax bill due to receiving gifts of new high-end appliances or furniture. They also might see higher property taxes due to the upgraded additions made to the home.

Some owners are taking the TV shows to court. Deena Murphy and Timothy Sullivan from North Carolina sued the production company and contractor for HGTV’s “Love It or List It” last year, alleging they ruined their rental home and increased their costs. The couple claims they had to pay the production company $140,000 for a contractor. The couple was dissatisfied with the renovation in the end, and they allege in the lawsuit that the materials used were poor quality, the floors were “irreparably damaged” and that some windows were painted shut.

Jerry Glover, entertainment attorney, says homeowners should not completely discredit all of the work done on these decorating TV shows, however.

“A lot of good work is actually done” on these reality shows, says Glover, an attorney with Leavens, Strand & Glover in Chicago. “But know that there’s a risk.”

Glover encourages homeowners to consult an attorney before appearing on any makeover TV show to have the contract thoroughly vetted so they become aware of their risks. In many cases, homeowners sign away their right to sue or seek damages if anything in the remodels go wrong, Glover says. Also, he says that it’s important homeowners talk to an accountant beforehand to understand the full tax ramifications too and avoid any post-sticker shock from their tax bill.

Source: “Want Your Home to Get a Reality Show Makeover? You’d Better Read the Fine Print First,” realtor.com® (Feb. 2, 2017)

Buy a Home With No Monthly Payments?

Reverse Mortgage

Reverse mortgages for purchases have been around a while but they stand to see more use as younger baby boomers hit retirement age. The mortgages are backed by FHA and they let households buy a home without having to make monthly mortgage payments. Instead, buyers put up a fairly sizable down payment and finance the rest with the reverse mortgage. The monthly payments then come out of the reverse mortgage each month, freeing up money for households to save or spend on other things. Of course, when they go to sell the house or refinance the mortgage, the funds taken out of the mortgage to make the monthly payments count as a negative against the equity in the house.

Given the possibility that older buyers could come to real estate practitioners with questions about how these work, the mortgages are explored in the latest Voice for Real Estate news video.

The video also looks at the confirmation process of Ben Carson to be secretary of the U.S. Department of Housing and Urban Development. In testimony before the Senate Financial Services Committee, Carson said he supports the opportunity of all Americans to buy a home and that preservation of the 30-year, fixed-rate mortgage should remain a part of the market. He also said he supports a federal backstop in the secondary mortgage market although he also wants to cultivate more private options.

Carson’s nomination has passed the Sensate Financial Services Committee and now awaits passage by the full Senate.

The video also looks at the 10-year high in existing-home sales markets saw last year and what stands in the way of continued strong sales: inventory shortages and rising interest rates.

Also in the video is a look at what happens next now that the Trump Administration has suspended the planned reduction in the mortgage insurance premium on FHA loans.

—Source , REALTOR® Magazine

Saving for a Down Payment? This is How Long It Will Take..

Saving for a Down Payment? This is How Long It Will Take..

Depending on where you live, saving for a down payment can take several years of financial planning. For example, in some markets, it may take the average person nearly a decade to save enough to buy a home. In California, that especially rings true.

California is home to four of the five cities on a recent list by SmartAsset of the places where it takes the longest to save for a down payment: San Francisco, Los Angeles, San Jose, and San Diego.

SmartAsset scanned the data on median home prices and median household income in the 15 largest cities in the U.S. From there, researchers calculated how long it would take for a household to save enough for a 20 percent down payment if consumers saved 20 percent of their incomes. (Note: Buyers are not required to have 20 percent down for a mortgage. It’s often recommended, but buyers can take advantage of several other low-down payment loan offerings.)

Here’s how many years buyers can expect to wait to save enough to afford a 20 percent down payment in these cities:

1. San Francisco, Calif.: 9.84 years
2. Los Angeles, Calif.: 9.38
3. New York, N.Y.: 9.27
4. San Jose, Calif.: 7.20
5. San Diego, Calif.: 7.01
6. Chicago, Ill.: 4.59
7. Austin, Texas: 4.17
8. Philadelphia, Pa.: 3.80
9. Phoenix, Ariz.: 3.45
10. Dallas, Texas: 3.09
11. Jacksonville, Fla.: 2.92
12. Houston, Texas: 2.85
13. Columbus, Ohio: 2.83
14. Indianapolis, Ind.: 2.82
15. San Antonio, Texas: 2.50

Source: “Years of Work Needed to Afford a Down Payment in 15 Cities,” SmartAsset.com (Jan. 31, 2017)

Safety Checklist for Moving Into a New Home

Safety Checklist for Moving Into a New Home

Your clients have a lot to think about on moving day, but it’s important that they have more than just organizing and unpacking on their to-do list, according to The Red Cross. The group recently featured several items home buyers should think about when settling in to a new house.

Create fire escape plans and meeting places.

The plan should include two ways to exit the home and set two different meeting places for family members. One might be a meeting area right outside of the home in case of a fire, while another would be a meeting place outside the neighborhood, in case the area is blocked in an emergency.

Create a survival kit.

Have enough food and water for each person for three days. The embedded video offers more tips on building a survival kit.

Identify your severe weather shelter.

Locate the safest spot in the home and designate it as your emergency weather shelter. The basement is the best spot.  If the home doesn’t have a basement, designate an interior spot away from windows on the lowest floor of the home, such as a bathroom or closet.

Update your app alert locations.

Weather and safety apps may need to be notified of clients’ new location details. For example, the Red Cross Emergency App offers alert preferences for all the locations and types of disasters users may want to monitor.

Decorate with earthquakes in mind.

This is not just a California problem anymore. Avoid hanging heavy items above seating areas, beds, and cribs. Secure furniture that could fall in a quake, such as bookshelves and televisions.

Assess your fire risks.

As clients are unpacking, they should be placing all flammable items at least three feet away from anything that gets hot, such as space heaters. Make sure they know not to run wiring under rugs or overload outlets and extension cords. Also, don’t forget to check the smoke alarms and make sure they’re working.

Source: “Checklist for Moving into a New Home,” the American Red Cross (Jan. 26, 2017)

Items Buyers Need to Add to Their Budgets

Items Buyers Need to Add to Their Budgets

Buying a home is much more than just paying a mortgage bill. Once you factor in association fees, property taxes, utility bills, and home maintenance, owners are often facing a much steeper price that is hundreds of dollars more.

Help your buyers get an accurate estimate of how much ownership will truly cost them. Here are a few of the common expenses they’ll want to add to their budget, along with estimations of costs (note: costs can vary dramatically from region to region; prices listed are based on national averages):

1. Closing costs: Add in an estimated 2% to 5% of home price.
2. Homeowners insurance: Add $1,100-plus per year.
3. Homeowners association fees: Add $10 to $575 per month.
4. Property taxes: Add $1,000-plus per $100,000 per year.
5. Home maintenance and repairs: Add several hundred to several thousand dollars.
6. Home furnishings: Add several hundred to several thousand dollars.
7. Lawn care and outdoor maintenance: Add $100 to $200 per month.
8. Utility bills: Add $180-plus per month.

Source: “From Closing Costs to Association Dues: The True Price Tag of a New Home,” AOL Real Estate (Jan. 25, 2017)