Tag Archives: Waccabuc Homes for Sale

Mortgage rates average 3.52% | Waccabuc Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving higher for the second week in a row and marking the first time the 30-year fixed-rate mortgage has risen above 3.5 percent since June.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.52 percent with an average 0.5 point for the week ending October 20, 2016, up from last week when they averaged 3.47 percent. A year ago at this time, the 30-year FRM averaged 3.79 percent.
  • 15-year FRM this week averaged 2.79 percent with an average 0.5 point, up from last week when they averaged 2.76 percent. A year ago at this time, the 15-year FRM averaged 2.98 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent this week with an average 0.4 point, up from last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 2.89 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

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Attributed to Sean Becketti, chief economist, Freddie Mac.

“The 30-year fixed-rate mortgage moved a solid 5 basis points to 3.52 percent while the 10-year Treasury yield remained relatively flat. This is the first week in over 4 months that rates have risen above 3.50 percent. This month, mortgage rates seem to be catching up to Treasury yields and returning to pre-Brexit levels.”

Home building group unveils tiny home designer series | Waccabuc Real Estate

Architect Jeffrey Dungan said it was important to keep the tiny home's dimensions between 12-feet-tall and 12 ½-feet-wide so that it could be transported by road and under bridges. The "Low Country" model pictured here at Cashiers Designer Showcase in Cashiers, North Carolina in August, is the first in a series of tiny homes that Dungan designed for Clayton Homes. (Submitted/Special to the Knoxville News Sentinel)

Architect Jeffrey Dungan said it was important to keep the tiny home’s dimensions between 12-feet-tall and 12 ½-feet-wide so that it could be transported by road and under bridges. The “Low Country” model pictured here at Cashiers Designer Showcase in Cashiers, North Carolina in August, is the first in a series of tiny homes that Dungan designed for Clayton Homes.

Vaulted ceilings give the impression of spaciousness and offer additional wall space for mounting storage and lofted sleeping areas, according to architect Jeffrey Dungan. Pictured here is the interior of the "Low Country" model designed as part of Jeffrey Dungan Collection for Clayton Homes. (Submitted/Special to the Knoxville News Sentinel)

Vaulted ceilings give the impression of spaciousness and offer additional wall space for mounting storage and lofted sleeping areas, according to architect Jeffrey Dungan. Pictured here is the interior of the “Low Country” model designed as part of Jeffrey Dungan Collection for Clayton Homes. (Submitted/Special to the Knoxville News Sentinel)

"It's more about designing much more meticulously, design by the cubic inch instead of by the square foot," said Jeffrey Dungan of his thoughtful use of the limited space in a tiny home. (Submitted/Special to the Knoxville News Sentinel)

“It’s more about designing much more meticulously, design by the cubic inch instead of by the square foot,” said Jeffrey Dungan of his thoughtful use of the limited space in a tiny home. (Submitted/Special to the Knoxville News Sentinel)

Lofty 12-foot ceilings leave plenty of space for bunk beds in the "Low Country" tiny home model, built by Clayton Homes. (Submitted/Special to the Knoxville News Sentinel)

Lofty 12-foot ceilings leave plenty of space for bunk beds in the “Low Country” tiny home model, built by Clayton Homes. (Submitted/Special to the Knoxville News Sentinel)

Every square inch of Clayton Homes Designer Series Tiny Homes has been carefully considered to accommodate high-end amenities, such as this full bathroom in the "Low Country" model home. (Supplied/Special to the Knoxville News Sentinel)

Every square inch of Clayton Homes Designer Series Tiny Homes has been carefully considered to accommodate high-end amenities, such as this full bathroom in the “Low Country” model home. (Supplied/Special to the Knoxville News Sentinel)

Last week, the Clayton home building group took their “Low Country” tiny home prototype to the Cashiers Designer Showcase in North Carolina. The event attracted interior designers and builders from around the region to explore new trends.

“People were very excited,” said Jeffrey Dungan, whose company designed the prototype. “It was almost like a childlike response, even with people who are 70 years old. I don’t know quite what it is, there’s this youthful exuberance when you talk about tiny homes and when they get to actually stand in one.”

Most people were surprised it did not feel like a “playhouse” and that it was actually really comfortable, said Dungan

“I could have sold it 15 times. People pulled out their checkbooks and offered money on the spot,” said Dungan of the response to the low country-inspired tiny house.

Dungan, a renowned Birmingham, Ala.-based architect, has partnered with Clayton building group, a division of Clayton Homes and one of America’s largest homebuilders, to bring luxury tiny homes to the housing market that the architect would not ordinarily reach.

The “Low Country” model tiny home, which was showcased in Cashiers, is 396 square feet and retails for $96,000.

“Clayton approached us to design a series of five homes and this is the first one that they’ve actually constructed,” he said. “Instead of me designing all of them, I have a talented crew that works with me, so everybody took a day to sit around and sketch, look at inspiration and share ideas. We took the best of the bunch and pursued those.”

In addition to the “Low Country” there are four different models in the series: Adirondak, Saltbox, Marseille and Cloudbreak. They range in size from 386-399 square feet.

The designers looked at different styles of architecture across the country and in Europe. “We looked at the low country in South Carolina, the Saltbox in New England, the Adirondacks in upstate New York, the French countryside, and beach huts in the Bahamas, Cape Cod or Malibu.”

“We really loved the whole attitude of being at the beach and escaping and that’s what little houses are about,” said Dungan. “Cloudbreak was inspired by beach style, surf shacks and places that sell beer and Jerk chicken in the Bahamas.”

“It’s more about designing much more meticulously, designing by the cubic inch rather than by the square foot,” said Dungan, who is more accustomed to designing high-end residences with a minimum of 7,000-8,000 square feet.

Planning and then manufacturing a small home off-site comes with its unique set of challenges according to Dungan. “Everything was a little different,” he said. “There were the restraints of working within 400 square feet — it couldn’t be more than 12 ½ feet wide to get them down the road or more than 12 feet tall to go under bridges.” This led to the modification of roof pitch in some cases.

Dungan admits to never watching shows like “Tiny House Nation”.

“When I started this study, what I reacted to was how DIY they looked,” he said. “There was a lack of overall elegance and sophistication in a lot of what I saw.”

Dungan hoped to bring the elegance and sophistication of his firm’s work into a tiny place. “I wanted the quality of the Faberge egg with details and wonderful materials,” he said. “Because you are doing something small you can afford to work with better materials. I was very impressed with Clayton’s joinery, the craftsmanship and just the materials themselves I didn’t feel like I was in a less nice space than I was accustomed to.”

Inside the prototype they opted for reclaimed materials such as the ceiling beams and the hardwood floors, and used for wood for the ceilings and vertical ship lap for the walls so there is no Sheetrock at all.

The exterior is clad in poplar bark siding with cedar shake on the roof.

Dungan said it is economical to heat and cool and the windows have the highest insulation value.

“In all of the designs we were very mindful of the 3-D space,” said Dungan. “The vaulted ceiling created wall space for additional storage and sleeping space. It can sleep up to six or eight people and that totally blows my mind.”

They may be small in stature, but do not lack for amenities. The “Low Country” accommodates eight — two in the bedroom, two in the loft area, two on a fold-out couch and two bunks. There are large French doors that open out onto a covered front porch, a full-height pantry, as well as a dishwasher and stack washer and dryer.

The architect likened the production of the “Low Country” prototype to making pancakes.

“When you are cooking your pancakes if you don’t get the heat and batter right for the first one, you adjust it,” he said. “For our first pancake, it was a heck of a good one and I’m hoping that our second and third ones will be even better.”

And Dungan said a website is in the works, where buyers can customize their home. Choosing from a myriad colors, materials and exterior options. “It will give people the flexibility to personalize their tiny home,” he added.

 

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http://www.knoxnews.com/business/clayton-home-building-group-unveils-tiny-home-designer-series-3b61819a-47c6-5e09-e053-0100007f9ad8-391938021.html

Mortgage rates average 3.48% | Waccabuc Real Estate

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates ticking down slightly from last week’s post-Brexit high.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.48 percent with an average 0.6 point for the week ending September 22, 2016, down from last week when it averaged 3.50 percent. A year ago at this time, the 30-year FRM averaged 3.86 percent.
  • 15-year FRM this week averaged 2.76 percent with an average 0.5 point, down from last week when it averaged 2.77 percent. A year ago at this time, the 15-year FRM averaged 3.08 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.80 percent this week with an average 0.5 point, down from last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 2.91 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.

“The 10-year Treasury yield declined after last week’s post-Brexit high in anticipation of the Fed’s September policy meeting. The 30-year fixed-rate mortgage followed Treasury yields, falling 2 basis points and settling at 3.48 percent. Despite the decrease in rates, the Refinance Index plunged 8 percent to its lowest level since June.

Existing home sales down 10.5% in November | Waccabuc Real Estate

Sales of existing homes fell short of expectations in November, hitting the slowest sales pace in 19 months after new mortgage rules hit the market, realtors said.

Existing home sales fell 10.5 percent to 4.76 million homes in November, the National Association of Realtors said Tuesday.

Analysts polled by Thomson Reuters expected to see existing home sales in November hit 5.35 million units, about the same as the 5.36 million the previous month.

The sales represent a 3.8 percent year-on-year decline for the indicator, a barometer of the American real estate market.

The Midwest led declining sales, seeing a 16.4 percent drop in sales of existing homes, followed by the West at 13.9 percent and the Northeast at 9.2 percent.

The median home prices was $220,300, up 6.3 percent from this time last year. Inventories are currently at 5.1 month supply of homes, tighter that the 6 months considered balanced.

 

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cnbc.com

October Gains for Residential Construction Spending | Waccabuc Real Estate

NAHB analysis of Census construction spending data shows that total private residential construction spending for October increased to a seasonally adjusted annual rate of $399 billion. On a month-over-month basis, private single-family spending was $226 billion, up by 1.6% over the revised September estimate. Private multifamily spending increased to $58 billion, up by 1.4%.

Annually, the pace of multifamily spending rose 28% from the October 2014 estimate, and spending on single-family construction was 11% higher.

The NAHB-constructed spending index, which is shown in the graph below (the base is January 2000), indicates that recent gains have been driven by the steady increase in multifamily construction spending. The pace of the multifamily spending is gradually slowing. The monthly growth rate of multifamily construction fell to 1.4% in October from relatively higher rates in August (8%) and September (6%). NAHB anticipates accelerating growth for single-family spending in 2015.Slide1

The pace of total nonresidential construction spending increased by 1% monthly in October, and the annual increase from the revised September 2014 estimate was 11%. The largest contribution to this year-over-year nonresidential spending gain was made by the class of manufacturing-related construction (41% increase), followed by lodging (30% increase) and amusement/recreation (24% increase).

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http://eyeonhousing.org/2015/12/october-gains-for-residential-construction-spending/

Rent the ‘Hobbit treehouse’ | #Waccabuc Real Estate

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Setting aside the fact that no self-respecting hobbit would ever choose to live in a tree instead of burrowing into the side of a hill, this “Hobbit treehouse” in the Black Hills of South Dakota is very, very good, with the entire interior (save for one leather couch, which still basically works) decked in very Hobbit-esque decor. The door, too, is a real highlight. If you’re passing through South Dakota and have big, fuzzy feet, thetreehouse is available for $639/night for a minimum of three nights. It doesn’t say whether there’s a surcharge if a bunch of dwarves unexpectedly show up for a dinner party.

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http://curbed.com/archives/2015/09/30/hobbit-treehouse-south-dakota.php?utm_campaign=issue-40308&utm_medium=email&utm_source=Curbed

· Lord of the Rings-Inspired Hotel Invites Guests to Live in a “Hobbit Treehouse” [My Modern Met]
· Chateau De Soleil (Look:) Prodigious Hobbit Tree House!) [VRBO]

Home price gains ease | Waccabuc Real Estate

Home price gains ease

S&P/Case-Shiller’s 20-City index notched a 4.9% yearly gain in May, down only a tick from 5% in April but missing expectations of 5.6%. A national index covering all 9 Census divisions accelerated to a 4.4% yearly rise from 4.3%. The seasonally adjusted national index was unchanged during the month, while the 20-City index declined 0.2%. The 20-City index is 14% below its ’05 peak.

Read More At Investor’s Business Daily: http://news.investors.com/economy/072815-763737-economic-news-home-price-gains-ease-consumers-wary.htm#ixzz3hDDsiHd5

Sales of used homes rose 3.2% in June | Waccabuc Real Estate

Existing homes sold in June at the fastest pace in more than eight years, and the median sales price hit a record, according to data released Wednesday.

Sales of existing homes rose 3.2% in June to a seasonally adjusted annual rate of 5.49 million, the fastest pace since February 2007, the National Association of Realtors reported. Meanwhile, the median sales price rose 6.5% over the past year to a record of $236,400.

Some buyers may be rushing to lock in mortgage rates before they rise further, according to NAR. There’s also a “solid foundation” for more home sales, given healthy jobs growth, said Lawrence Yun, NAR’s chief economist.
Economists polled by MarketWatch had forecast a sales rate of 5.42 million for June, compared with an original May estimate of 5.35 million. On Wednesday NAR revised May’s pace to 5.32 million.

Wednesday’s report gives markets a look at how buying activity is faring during this year’s hot home-selling season. The sales pace is down about 24% from a bubble peak.

While the growing economy and jobs market, as well as still-relatively-low mortgage rates, are supporting sales, there are also challenges facing the housing sector. Lenders have strict credit standards, erected in the wake in the financial meltdown, looking to protect themselves from the financial and legal risks attached to making loans that end up going bad. Also, while the U.S. housing market as a whole is growing stronger, there are still pools of deeply distress borrowers in the country.

Elsewhere in the housing market, there are signs of uneven improvement. Recent government data showed that new home building sprang higher last month, but the gains were lopsided, led by apartment building. Construction starts in buildings with at least five units made up 41% of total new home construction in June — the largest share in 42 years.

 

 

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http://www.marketwatch.com/story/existing-homes-sell-at-fastest-pace-in-more-than-eight-years-2015-07-22

Weekly mortgage applications drop | #Waccabuc Real Estate

Mortgage applications gave back their gains last week, falling exactly as much as they had risen the previous week. This as interest rates increased ever so slightly.

Total application volume fell 2.3 percent on a seasonally adjusted basis for the week ending April 24th, but is up nearly 34 percent from a year ago, according to the Mortgage Bankers Association (MBA). Applications to refinance home loans fell four percent, while those to purchase a home were unchanged for the week.

“Applications for conventional purchase loans are at their highest level since August 2014,” said Mike Fratantoni, chief economist for the MBA. “With the recent pickup in existing home sales, this is another sign that housing markets are strengthening.”

Still, the stall in purchase application volume is a red flag, given that they had been on a tear, up 13 percent in the past four weeks. It could be a one-week aberration, but it is somewhat unexpected right in the heart of the spring season, traditionally the busiest for home sales. Home price gains have been increasing, as strong buyer demand comes up against very tight supply. That may be playing into the drop in applications—simply that people are not finding the right homes at the right price.

 

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https://homes.yahoo.com/news/weekly-mortgage-applcations-drop-2-110000411.html