2016 Predicted to Be Housing’s Golden Year

Officials from mortgage giant Freddie Mac have made a bold prediction: This year housing starts and home prices will reach their highest levels since 2006.  The main reasons behind its bullish forecast is low mortgage rates, an improving job market, and a gradual increase in housing supply.  “Expect the 30-year mortgage rate to remain very attractive throughout the spring home-buying season, staying below 4 percent until the second half of the year,” according to Freddie Mac’s monthly Outlook for March.

Read article – Realtor Magazine

Mortgage Applications for Both Refinances and Home Loans Surged

Global stock markets plummeted last week, but that didn’t slow down the U.S. mortgage market. Mortgage applications for both refinancings and home loans surged 9% week-over-week on a seasonally adjusted basis, according to the Mortgage Bankers Association’s survey for the week ending Jan. 15.  Refinance applications saw the bulk of the increases, rising 19% week-over-week.  Still, they are 40% below where they were a year ago, even though mortgage rates are lower. Read article – Realtor Magazine

   

2534 Development Puts Johnstown on the Map

The 2534 project, on the southeast corner of I-25 and U.S. Highway 34, is surging forward on the news that sporting goods retailer Scheels will serve as a massive anchor.  Beyond the retail aspect, the project also will include office/medical space, commercial, light industrial, and a 254-unit apartment complex.  The Scheels store alone will account for 250,000 square feet, the second-largest retail facility in the state. Read article – BizWest

4 Amenities Trending With Buyers

There are four amenities currently trending with buyers: – Energy efficiency.  Buyers are showing interest in homes that are more economical to maintain and also have a warmer, cozier vibe. – Modern, up-to-date kitchens.  Buyers want a kitchen that has already has been updated. – Smart home options.  More buyers are looking for homes that they’ll be able to smarten up now, or down the road. – Color pops.  Color has been shown to be a draw for younger buyers in particular. Read article – Realtor Magazine