home buyingWho is most likely to have home buying as a goal this year? Will remodeling and home improvement spending continue to grow?  We look at this and more in this week’s roundup of real estate news.

Four Percent List Home Buying a 2019 Goal

Four percent (about 10 million Americans) said buying a new home was their main financial goal for the year — and millennials were the most likely generation to claim that as a goal, a new Bankrate survey revealed.

Seven percent of millennials said they wanted to buy a home this year.

But that doesn’t mean financial goals aren’t being set. Bankrate’s survey revealed that about 89 percent of Americans have at least one goal for the year, with paying down debt being at the top of the list, with three in 10 saying that was their goal, followed by better budgeting (13 percent), saving more towards retirement (12 percent), saving more for emergencies (10 percent), getting a higher-paying job (6 percent), and investing more (5 percent). (more…)

Confidence among home improvement professionals is booming. After a quarterly survey of thousands of remodelers, carpenters, painters, plumbers and roofers, the HomeAdvisor Farnsworth Index reports that over three-quarters of those home improvement professionals feel highly confident in their business prospects over the coming year. The survey was administered between May 11 and May 26 to professionals in 13 categories. According to the survey, 77.5 percent of professionals expressed confidence that their businesses will grow in the next 12 months. Landscaping and mechanical companies foresee the most revenue growth.

The report tells us what we already know about this time of year. The number of home improvement projects rose this quarter, and professionals are busier than ever for spring and summer. According to HomeAdvisor, both the number and size of projects has increased in the first half of 2017. (more…)

RH Modern: Jonathan Browning Chandelier $3,695 cribbed from Browning trade-only model at ~$15,000.

RH Modern: Jonathan Browning Chandelier $3,695 cribbed from Browning trade-only model at ~$15,000.

Expo and the Great Indoors whetted our appetites for cool kitchen and bathroom showrooms we mightn’t have been able to afford, but could crib ideas from.  Their bankruptcies left a hole in our collective Sunday afternoons. Even at a fraction of their size, Capital Distributing and Perch sate our inner renovation voyeur.

In the meantime we also saw Restoration Hardware, always more tease than happy ending given that much of the “good stuff” isn’t in stores but ordered blindly via their catalog. Then last summer came RH Modern, a new line moving away from their chipped-paint-chic and weathered, splinter-friendly wood comfort zone and into the realm of reinterpreted midcentury modern and “reclaimed” vs. “antique” wood.  RH Modern seems to compete with Mitchell Gold, Bob Williams. Of course the tease continues with just one free-standing RH Modern store in Los Angeles, (natch) and some dedicated space in NYC, Atlanta, Chicago, Denver, Tampa and Austin that parcel out a teensy weensy portion of the 300-page, mailbox-bending catalog.

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dallas home remodeling

New fiberglass attic insulation got a 100.9% ROI in 2015, according to TAR. Photo: Ryan McFarland via Creative Commons

When it comes to home remodeling projects, homeowners are all about improving either a home’s curb appeal or energy efficiency. This is true in Dallas, the state, and the nation.

A new report from the Texas Association of Realtors released Friday, the Texas Remodel Valuation Report, looked at the profitability and popularity of home improvement projects in 2015 both nationally and locally.

Remodeling projects continue to be popular and profitable in Dallas. This is true even though profitability of most home remodeling projects in Dallas declined slightly in 2015, with ROI ranging between 51.5 percent and 108.6 percent.

Lots of people here buy a fixer upper and choose certain strategic projects to make it more livable and energy efficient. Others choose to complete a few projects before putting a home on the market to boost resale value.

Locally, the biggest bang for a homeowner’s remodeling buck came from manufactured stone veneer, a lower-cost alternative for siding, fireplaces, and other stone projects. In Dallas, people recouped on average 108.6 percent ($7,920) of the total project cost. It was also in the top five most profitable projects in all Texas markets with the exception of Houston, seeing a 157.9 percent ROI statewide.

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The Porch of Shame

See this? This is the porch of shame. I’ll start with the porch of shame because it’s my porch of shame, and it’s also the start of what will be a series of renovations and improvements on our cute little Midway Hollow home.

As we’ve talked about before, we have been weighing several schools, knowing we had a year or so before we really had to pull the trigger and put our house on the market and look for something else.

But then it happened. I had been driving around for a while and looking at every farking update Trulia and Zillow sent me, and couldn’t shake the feeling that we already had our house, and our school. Every house within our budget needed work. So does ours, only with the equity we have in it now, we can afford to make all kinds of changes.  And we really fell in love with Withers Elementary, but the only way we can really afford to live in its attendance zone is to stay put.

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