1. NIGHT WATCH IS OUT…
Do you have any idea what is The Top Choice for 2020 Color of the Year? Realtor Magazine has done some research and found “PPG, a paint firm and color forecaster, released its early picks of inspiring hues for 2020. If the predictions are right, you’ll be seeing much more blue in home decor next year. PPG announced on Monday that Chinese porcelain is its 2020 color of the year.” What do you think? Do you like it enough to start splashing it around your house, beach cabin, or waterfront retreat?
2. SPACE INVADERS
“American homes are a lot bigger than they used to be. In 1973, when the Census Bureau started tracking home sizes, the median size of a newly built house was just over 1,500 square feet; that figure reached nearly 2,500 square feet in 2015.” I’ve always lived small. I grew up in small houses, and my wife and I have always purchased very small and ‘smallish’ homes. I guess that’s where we feel most connected. The Atlantic just published an article; Are McMansions Making People Any Happier? May be a good read if you want to reflect on what’s currently going on in your market right now.
3. MOVING DOWN?
I reported this last week, and CNBC followed up this week by reporting that “Mortgage rates dropped to their lowest level in nearly two years, so mortgage applications surged 26.8% in just one week, according to the Mortgage Bankers Association.” So there should be no surprise Mortgage applications soar as refinances surge on a big rate drop. Did you personally take advantage of falling rates? Are you sharing this news with people who may find it valuable?
4. D-MN, FHA, AND MMI
“The House Financial Services Committee passed a bill Wednesday that would limit mortgage insurance payments on loans backed by the Federal Housing Administration. The bill – H.R. 3141, “The FHA Loan Affordability Act of 2019” – would repeal FHA’s policy that requires borrowers to pay mortgage insurance for the life of the loan. Instead, payments would cease when the outstanding loan balance reaches 78% of the home’s original value.” Read HousingWire’s article about how the House committee passes bill to make FHA loans less expensive that intends to limit mortgage insurance premiums for FHA borrowers.
5. HERE’S A STORY…
I admit it. As a child growing up in the 70’s I was a huge fan of the Brady Bunch. A good wholesome show at the time, with lessons to teach. That’s why I am compelled to include this week’s article about The Brady Bunch house has a new look — inside and out (LA TIMES). “Recognizing a real estate bonanza, HGTV last year paid $3.5 million (nearly twice the asking price) for the residence, used only for exterior shots on “The Brady Bunch.” Interior scenes for the ABC series, which ran from 1969 to 1974, were all filmed in a studio. But now those retro rooms have been replicated within the home, turning the property into a groovy gallery of 1970s Americana.” I’m interested in seeing the finished product. How about you?