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"Shedquarters": The Hot New Trend Home-Based Business Owners
Excerpt:
Space-efficient work spaces are becoming all the rage these days. They're great for maintaining privacy and uninterrupted workflow, and they can also be cozy and stylish as well. Here are some examples of a growing trend of miniature studios (for offices and living structures), that are small enough to fit in someone's back yard.
We're fond of calling them, shedquarters. Whether you need your own getaway space, an office, an art studio, or a full on extra home, there's something for everyone out there!
My comment: soon after I started my appraisal business in 1986, I moved to a home with a rear "boathouse" for my office. It was located on an estuary. In the rear was a small house built on pilings over the water. It was a great way to separate my business from my home life. After 6 years I moved to a regular office building as I had too many employees for the small office. I still miss my little house over the water!!!
http://lightersideofrealestate.com/real-estate-life/cool-stuff/shedquarters-new-trend-for-home-based-businesses
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Housing Forecast: The Present is a Lagging Indicator, and Sometimes it Rhymes
Some interesting comments from Jonathan Miller's Housing Notes
May 8, 2015
Excerpt:
Earlier this week I came across a brilliant tweet - that when applied in the context of housing, spoke for a lot of the gimmicky click-bait research that comprises a large swath of housing market news coverage.
The present is a lagging indicator.
- Pedro da Costa (@pdacosta) May 3, 2015
While I plan to use that quote extensively, my favorite remains one by Mark Twain (supposedly). It is especially useful when making comparisons to the the boom, bubble, bust cycle of the prior decade.
History doesn't repeat itself, but it does rhyme.
I prefer my adapted version:
History doesn't repeat itself, but sometimes it rhymes.
So much of what we read or think about housing is backward looking or a provides a current view based on a prior event that had a completely different set of circumstance and worst of all, a lack of context. Sound bites relied on by market participants and media often have limited applicability to specific situations and perspectives.
Link to the full Housing Notes issue:
http://us6.campaign-archive2.com/?u=47540980899c1d755b4cddc48&id=9493fa8875&e=e758e759fb
My comment: I love Jonathan Millers writing, speaking etc. The only appraiser I know who is widely quoted, and interviewed, in the media!!
WHAT DO YOU THINK? POST YOUR COMMENTS AND READ WHAT OTHER APPRAISERS SAY AT WWW.APPRAISALTODAYBLOG.COM
http://wp.me/p2Ve7A-hI
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HOW TO USE THE NUMBERS BELOW. Appraisals are ordered after the loan application. These numbers tell you the future for the next few weeks. For more information on how they are compiled, go to www.mbaa.org
Note: I publish a graph of this data every month in my printed newsletter, Appraisal Today. For more information or get a FREE sample issue go to http://www.appraisaltoday.com/products.htm or send an email to info@appraisaltoday.com . Or call 800-839-0227, MTW 8AM to noon, Pacific time.
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Mortgage applications decreased 3.5 percent from one week earlier
WASHINGTON, D.C. (May 13, 2015) - according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending May 8, 2015. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3 percent compared with the previous week. The Refinance Index decreased 6 percent from the previous week. The seasonally adjusted Purchase Index decreased 0.2 percent from one week earlier. The unadjusted Purchase Index increased 0.1 percent compared with the previous week and was 12 percent higher than the same week one year ago.
The refinance share of mortgage activity decreased to 51 percent of total applications, its lowest level since May 2014, from 52 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 6.3 percent of total applications. The average loan size for purchase applications rose to a survey high of $298,500.
The FHA share of total applications decreased to 13.8 percent from 14.0 percent the week prior. The VA share of total applications remained unchanged at 11.9 percent. The USDA share of total applications increased to 0.9 percent from 0.8 percent the week prior.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 4.00 percent, its highest level since March 2015, from 3.93 percent, with points increasing to 0.36 from 0.35 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. The effective rate increased from last week.
The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to 3.99 percent, its highest level since March 2015, from 3.91 percent, with points increasing to 0.33 from 0.24 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.
The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.76 percent, its highest level since March 2015, from 3.70 percent, with points decreasing to 0.14 from 0.21 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.
The average contract interest rate for 15-year fixed-rate mortgages increased to 3.23 percent, its highest level since March 2015, from 3.19 percent, with points increasing to 0.40 from 0.30 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.
The average contract interest rate for 5/1 ARMs increased to 3.00 percent, its highest level since March 2015, from 2.87 percent, with points increasing to 0.46 from 0.33 (including the origination fee) for 80 percent LTV loans. The effective rate increased from last week.
The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.
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