Searching for a comprehensive list of what real estate will look like in 2014? Look no further, because we’ve culled together top predictions from around the web for you right here, with insights from Trulia.com, Zillow.com, Forbes, the NAHB and NAR.

1. Unemployment will stabilize between 6.9 percent to 7.2 percent as people re-enter the labor market and start looking for jobs.

2. Affordability will get worse, although price increases will slow from the unsustainable pace of 2013.

3. Expect mortgage rate increases next year. Don’t expect major hikes to scare markets and buyers, but anticipate small upward rate increases as the Fed tapers further.

4. Move-up buyers will be less discouraged by rising prices and interest rates than investors or first-time buyers.

5. Gains in housing will hold up and even continue in 2014, but more moderately in all sectors: new homes, existing homes, and building starts. Growth, however, will be uneven across states.

6. Higher prices will encourage listings for homeowners whose homes were underwater; buyers will face less competition from investors who scale back from buying as prices rise.

7. Existing-home sales will climb 4 percent to 5.2 million, a 7.5 percent increase from 2012. New-home sales may climb by another 16 percent to 580,000 next year (2013 saw an amazing 36 percent increase over 2012).

8. Areas with inventory shortages should cool, but watch rising mortgage rates (see #3). Sales in California and Arizona will be rapid, while New York and Florida will continue to deal with gluts.

9. Prices could slow for the wrong reasons, too, if there’s another government shutdown to dampen consumer confidence, which hurts both demand and pricing.

10. Looser credit may help renters become new owners. With fewer foreclosures, single-family rentals will tighten making buying more appealing.

WASHINGTON, DC – Year-over-year gains in Americans’ attitudes toward home ownership demonstrate that the housing recovery continues to move forward on firm footing despite a drop in housing sentiment during the fall, according to Fannie Mae’s December National Housing Survey results. Forty-nine percent of consumers surveyed believe home prices will go up over the next 12 months, compared to 43 percent in December 2012. Consumers’ average 12-month home prices expectations moved to 3.2 percent, up from 2.6 percent last year. Those who say it’s a good time to sell a home rose significantly to 33 percent from 21 percent in December 2012. And, despite a higher mortgage interest rate environment, consumers are more optimistic about their access to mortgage credit than they were a year ago, with those who say that it would be easy to get a home mortgage today rising to 50 percent, compared to 45 percent last year.

“The marked improvement in housing market sentiment over the course of 2013 bore out our view going into the year that the housing recovery was on a firm footing. Year-over-year gains in home price expectations and attitudes about the current selling environment were particularly notable,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Going into 2014, housing attitudes are recovering from a recent dip that coincided with the heated fiscal discussions between the Administration and Congress late last year. Consumer attitudes about the ease of getting a mortgage today are at their highest level in the survey’s three-and-a-half-year history, which should help offset the current higher interest rate environment and support a continued but measured housing recovery as we move through 2014.”

SURVEY HIGHLIGHTS

Homeownership and Renting

• At 3.2 percent, the average 12-month home price change expectation increased since last month.
• The share of respondents who say home prices will go up in the next 12 months increased to 49 percent.
• The share of respondents who say mortgage rates will go up in the next 12 months decreased slightly to 57 percent.
• Those who say it is a good time to buy a house increased from last month, up three percentage points to 67 percent.
• The average 12-month rental price change expectation increased from last month to 3.8 percent.
• Fifty-three percent of those surveyed said home rental prices will go up in the next 12 months, a three percentage point increase over last month.
• Fifty percent of respondents thought it would be easy for them to get a home mortgage today, holding steady from last month.
• The share of respondents who said they would buy if they were going to move fell slightly to 66 percent.

For more information visit: www.fanniemae.com/progress/index.html
/PRNewswire

Hey, great news: US housing prices are NOT in a bubble. Oh, except here in Southern California, where they are. Trulia’s Bubble Watch report, out today, relies on a lot of crazy-sounding concepts like “fundamental value” and “undervalued,” but then housing prices and bubbles and money are all just inventions based on shared delusions anyway and what are we talking about again? Disorienting terminology aside, the report at least makes some comparisons that can tell us something–it looks at “the price-to-income ratio, the price-to-rent ratio, and prices relative to their long-term trends, using multiple data sources.” So if houses are going for a lot more than what those numbers might predict, Trulia declares a bubble; a lot less, no bubble. Nationwide, housing prices are four percent under what Trulia thinks they should be, so there’s no bubble (compare to 39 percent above at the beginning of 2006 and 13 percent below at the end of last year). But in Los Angeles County, prices are 12 percent above where Trulia thinks they should be. BUBBLE. Of the 100 largest metro areas, LA is second most bubbly only to Orange County, which is 13 percent above.

While mortgages are tougher to get and housing supplies are a lot lower than they were during the mega mid-aughts bubble, LA home prices have been shooting up over the last year or so (largely due, in fact, to the short supply). While prices are now leveling off a bit, according to the October 2013 numbers from DataQuick, they were still up 24.6 percent from last October.

At the beginning of 2009 roughly 60 percent of closings in California were repossessed homes. Now repossessions represent only about five percent of total sales. Sales of bank-owned homes made up a majority of California home sales during the last four years, but now represent only a small percentage of sales in the state.

In 2013 the median price of a single-family home averages $408,600 in California. If the trend continues the projected price is expected to rise six percent bringing the new median to $432,800 in 2014. A modest rate of appreciation can be interpreted as one sign that the state’s housing market is beginning to rebalance itself.

This trend can be attributed to numerous factors in the market place. The most obvious reasons are owners and banks finding alternatives to foreclosure and the impact of the state’s new Homeowners Bill of Rights. The trend includes the Los Angeles and Southern California markets.

The Homeowners Bill of Rights is a package of laws including several provisions to prevent or delay foreclosures, including a ban on dual tracking activities. Dual tracking activities occur when banks work on a homeowner’s loan modification request while simultaneously processing a foreclosure.

These laws resulted in a sharp decrease in foreclosure activity. This year home prices have appreciated rapidly and in August, the California median home price was $441,330. This is 28 percent higher than prices from 2012. This figure also signified the highest price recorded since December 2007.

So, what do you think? Are we heading into a stabilized market?

You can contact Cynthia Tilleman for more information via email at cynthia.tilleman@podley.com.

Cynthia Tilleman, Realtor
897 Granite Drive, Pasadena CA 91001
(626) 825-0161 / (626) 639-1676
Follow us on Twitter.com/cynthiaskorner
www.pasadenahomesbycynthia.com

When selling a home, it’s not enough to make it look good. Making it feel good is just as important.

When you were house hunting, did you ever get the feeling that everything was “just right” when you walked into a house you liked? If so, then you know how feng shui works.

Feng shui is the ancient Chinese art of making physical and energetic adjustments to a space to create a balance and flow of positive energies. If you’ve been struggling to sell your home, maybe it’s time to add some feng shui magic to it and attract positive vibes.

As a renowned feng shui expert once said, sometimes it’s not just about curb appeal, it takes chi appeal. Chi is the life energy that feng shui tries to attract. It is achieved when everything is balanced beautifully. When you get that “feel good” feeling about a house, that is your body’s response to positive chi energy.

The location of the house is very important in feng shui, though one cannot easily change the physical placement of the home, the next best thing is making sure the surrounding areas are positively charged. This means making sure the street in front or around the house is clean and there is no sloping land behind the house. If there is a slope in the backyard, be sure to have it filled out for level ground.

Which brings us to another way to attract good chi, which is investing in some landscaping. It not only enhances your home’s physical aesthetic, but also adds value and attracts quality energy. Inside, invest in tall lush plants and fresh cut flowers, have good lighting, beautiful art, and create a feeling of space and expansion through strategic feng shui placement of furniture and mirrors.

When selling a home, it’s better if potential buyers see more of the home. That is, don’t make the home too personal. Give the prospective buyer more of the house, not your stuff. The less personal a house is, the less it looks used. And the less used it looks, the better.

But don’t overdo it. An empty home won’t give prospective buyers an idea how the home would look if lived in, but make it too lived in and you might deter buyers away. 
 
Good vibes in each and every room will result in good energy all round. A single room that emanates bad energy can make or break the sale, so be sure each room is positively charged with enough furniture to give buyers an idea of how it is to live in the home, yet not too cluttered to put them off.

Part of getting rooms primed for positive energy is to make sure everything is in working order. Repaint walls if needed, fix the caulking, and make sure all fixtures are repaired. Be sure to have appliances repaired and that all leaks are fixed. Aside from the positive vibes these bring, common sense dictates that no one wants to buy a rundown home too. So be sure to get handy (or a handyman) and start fixing.

Finally, when selling a home, most likely potential buyers go through the front door, right? The same is true for chi so having a strong front door is important in feng shui. Make sure the size and proportion of the door is right for the house, and the placement of the pathway that leads to it as well. If you are serious about fixing the chi in your home and making a sale, having these elements fixed can be worth your time and effort.

Don’t forget the other doors too, such as the back door, side doors, etc. There should be no direct door alignment as this creates a strong rush of chi, which leads to a loss of energy. If you can’t afford to change the position of a door (by means of a renovation) you can block the direct alignment with a wall, a drawer or cabinet, or any piece of furniture to block the rush of energy.

Selling a home these days isn’t easy, and all the help you can get is always welcome. Why not try feng shui? Who knows, it may be be exactly what you need.

If you need help in selling your home, contact Cynthia Tilleman today. A realtor with a solid background in interior design, Cynthia knows what looks right and what sells.

You can contact Tilleman for more information via email at cynthia.tilleman@podley.com or call (626) 825-0161; (626) 639-1676.

For more information on buying or selling a home and to find out what your home is worth, contact Cynthia at www.pasadenahomesbycynthia.com.

NEW LISTING > 126 E. Laurel Avenue, Sierra Madre

This charming two-story Craftsman-Victorian style home is located on a picturesque street close to Sierra Madre village with great restaurants and shopping. The generous floorplan has 4 bedrooms, 2 bathrooms, a formal dining room, a recently updated kitchen with stainless steel appliances and granite counters. The large lot has a one-bedroom guesthouse and oversized swimming pool. There have been numerous upgrades to this home that include a new roof, copper plumbing, and updated electrical to name a few.

OPEN HOUSE > Sunday, September 15th, 2-4pm
www.126ELaurel.com

Contact Cynthia Tilleman for a tour today!
Cell: 626.825.0161
Phone: 626.639.1676

One of the more desirable addresses in Sierra Madre is North Liliano Drive. Those looking to own a home in this wonderful neighborhood would be wise to check out the three-bedroom home Cynthia Tilleman is representing.

Located at 1970 North Liliano Drive, Sierra Madre, the three-bedroom home has two baths and an area of 2,092 square feet. A large lot that has been recently landscaped with lemon and pomegranate trees, the home is perfect for small to medium-sized families.

The home, which was built in 1956, has been recently painted inside and out and has a newer roof. There is a gourmet eat-in kitchen with many designer touches that include granite counters, a built-in cook-top, and oven.

The spacious living room is light and bright, complete with a large fireplace and beamed ceiling for that rustic feel. It also opens out to a lanai, then to a large patio and backyard.

The lanai itself is enclosed with sliding glass doors and is perfect for entertaining, playing, dining, or relaxing.

Off the main hall are three large bedrooms, with the master suite having its own dressing area and connecting bath.

Other features of the home include centralized air conditioning and heating, a circular driveway, 3 outdoor patios, and sweeping mountain views.

All this can be had for a very reasonable $949,000.

Interested buyers can contact Cynthia Tilleman via email cynthia.tilleman@podley.com or call (626) 639-1676 or (626) 825-0161.

Tilleman is a professional residential realtor with Podley Properties, and is a member of the National, California, and Arcadia Associations of Realtors. With 15 years experience as an interior designer, Tilleman has an eye for beauty that she employs when out assessing homes. She changed professions to provide her clients a full-service solution for envisioning all possibilities of their property before selling.

To learn more about Cynthia Tilleman and to get in touch with her if you are looking to buy or sell a home, visit www.pasadenahomesbycynthia.com or follow Twitter.com/cynthiaskorner.

In Pasadena’s hot real estate market, home prices have increased 28% from last year.

According to real estate information firm DataQuick, home prices in Southern California skyrocketed in June 2013 when compared to June 2012. This dramatic increase was greater than any year-over-year increase seen during the housing boom, and the most since DataQuick started tracking this specific data in January 1989.

Sales in the six-county Southland region declined slightly in June, which indicates that inventory remains extremely tight.

There are signs, however, that the dramatic increases will slow somewhat due to rising mortgage rates and the probability that the current price gains will encourage more home owners to place their houses on the market. The housing recovery began to accelerate last year as the number of foreclosures declined, and low interest rates urged home buyers into action in the middle of an improving economy. Traditional home buyers and investors have battled over an extremely low number of homes for sale, which has created bidding wars and higher prices.

The median sales price for homes in Pasadena for the past quarter was $580,500. This represents an increase of 16.1% ($80,500) compared to the prior quarter. Sales prices have appreciated 5.5% over the last five years in Pasadena. The average listing price for Pasadena homes for sale on Trulia was $1,022,348 for the week ending July 10, which represents a decline of 1.9% ($19,808) compared to the prior week and a decline of 4% ($42,573) compared to the week ending June 19. Average price-per-square foot for Pasadena increased 18.6% ($446) compared to the same period last year. Popular neighborhoods in Pasadena include North Central, East Central, South Arroyo, North Arroyo, West Central, and Mid Central.

Although Pasadena is best known as the host of the annual Tournament of Roses Parade and Rose Bowl football game, the city also boasts top-quality restaurants, great shopping and a variety of amenities. Known as the Crown of the Valley, Pasadena is a wonderful city for businesses and residents alike. Its unique size makes Pasadena a warm and inviting urban setting that lacks the worries and hassles of big cities like Los Angeles. Residents are close to their favorite shops, restaurants and entertainment and get to experience the famous Rose Parade and Rose Bowl, world-class museums, great schools and various recreation facilities, outdoor opportunities and good, sunny weather.

PASADENA REAL ESTATE SUMMARY

The median sales price for homes in Pasadena last quarter was $564,000.
(A 10.6% increase of $53,931, compared to the prior quarter and an increase of 12.8% compared to the prior year.)

Sales prices have appreciated 2.5% over the last five years in Pasadena.
This week, the average listing price for Pasadena homes for sale on Trulia was $1,097,275. (A 0.8% increase of $8,663, compared to the prior week and a 6.5% increase of $67,053 compared to two weeks prior.)

The average price per square foot for Pasadena was $422.
(A 13.7% increase compared to the same period last year.)

Popular neighborhoods in Pasadena include East Central, South Arroyo, North Central, North Arroyo, West Central, and Mid Central.

In this “hot” Pasadena real estate market, every member of my team is integral to making each transaction as simple and effortless as possible. Sometimes the simplest things can be overlooked in the hectic times preparing for a move. P.E. Deans Consignment store in Sierra Madre is part of my real estate team for many reasons.

Downsizing, remodeling, or moving?

So you have some great furniture, mirrors, lamps, and accessories that you can no longer use. They’re too good to donate, the kids can’t use them and you just don’t have the space for them. What should you do?

Have a yard sale? Post to Craigslist? List on eBay?

The truth is, you have decided you don’t really want to deal with those options, or you’ve tried them all. The people at the yard sale offered $5 for something you marked $100 (which you spent $500 for originally), they showed up at 6 a.m. when you specifically advertised not before 8 a.m., and after all of the fun you had to drag the remaining items back into the garage.

When you put something on Craigslist, you got some very strange calls, a little scary, or none at all. When you put something on eBay, you forgot to calculate the shipping properly and the freight came out to be more than the cost of the goods.

A consignment store is a great option, specifically P. E. Deans in Sierra Madre. Yes, you do have to share the sales price, but a good consignment store will probably get a much better price than you ever could, and we do all of the work.

We work hard to make your items look the best they possibly can. We cover scratches, we polish, and we set up room vignettes with other great merchandise. We advertise in print and online. We attract customers that are looking for quality and we give them the customer service needed to close the sale and then you get your check.

P.E. Deans Consignments, Etc.
49 W. Sierra Madre Blvd.
Sierra Madre, CA 91024
(626) 355.0400
www.pedeans.comEtsy