Whitney Minnich Real Estate and Community Updates

Energy Adviser: Should you smarten up your home? By  Clark Public Utilities for The Columbian Published:  February 19, 2019, 6:02 AM ‘Smart home” can be something of a loaded phrase. Depending on your worldview, the term may evoke something between eye-roll-inducing images of people using a phone to turn on the toaster and dreams of living in a home where everything from ambiance to security is efficient, customizable and easily controlled. A smart home today is a living space with any combination of appliances, lighting, security, heating and other comforts that are connected to the internet and/or each other and that automates tasks humans would otherwise perform. At the basic level, a smart home can simplify tasks. With some careful planning these technologies can also improve home security, provide flexibility and convenience, and reduce energy consumption. Like any home-improvement project, it’s important to have clear goals and expectations in mind before you

Reaching the affordability ceiling By  Elon Glucklich Posted Jan 27, 2019 at 5:01 AM Updated Jan 27, 2019 at 2:24 PM No end in sight for the cost battle entry-level home buyers face in Eugene-Springfield While sales have been swift in a Spring Capital Group subdivision project — on one of the largest developable tracts of lane in or immediately near the Eugene-Springfield urban area — it doesn’t show any signs of easing the growing affordability crunch facing local entry-level home buyers. Since getting its subdivision plat recorded, the local developer has finalized contracts to sell 122 of its 192 home lots at the far northern edge of the city limits since the lots became available in early December, firm principal Tom Connor Jr. said. Seven miles south, just outside Eugene’s southern boundary, prominent Creswell developers Norman and Melvin McDougal have been busy clearcutting and building a network of gravel roads through their 500-acre ridgeline property above Lane Co

Millennials Prove Their Buying Force Has Arrived February 21, 2019 Young adults are now taking on more mortgages than any other generation and increasing their purchase power in the housing market. Millennials represent 42 percent of all new-home loans, higher than both the baby boomers and Generation X, according to a new study from realtor.com®. “Millennials are getting older, with better jobs and deeper pockets, allowing them to expand their collective purchase power and hence, their footprint in the market,” says Javier Vivas, director of economic research at realtor.com®. “The stereotype that millennials primarily choose to buy homes and live in large metro areas isn’t the reality. Results show millennials’ expansion is more heavily conditioned by affordability than in prior years, so their eyes are set on less traditional secondary markets where homes and jobs are now available and plentiful.” Affordability is key for millennial home buyers when choosing wh

Wallpaper Makes Triumphant Return Like other decorating trends, wallpaper has seen its star rise and fall. It’s now shining bright once more as homeowners turn to it for accents and textures. February 11, 2019 by   Barbara Ballinger © Antony Chandler Wallpaper made its debut centuries ago as a less costly alternative to tapestries used by affluent homeowners for decorating. In stark contrast, wallpaper today represents a luxury decorating tool. While the medium continues to cycle in and out of style, the pendulum has now swung in favor of wallpaper as more homeowners are eager for hues and patterns beyond the white, beige, and gray neutrals that have recently dominated interior palettes, says Chicago-based designer Tom Segal, principal of Kaufman Segal Design.   © Flavor Paper But these aren’t the dainty floral or striped patterns of the past. Manufacturers such as Brooklyn, N.Y.–based Flavor Paper have introduced modern, sometimes

Why 2019 Promises to Be Better for Buyers February 11, 2019 After inventory and affordability challenges in 2018, prospective home buyers may have better chances of scoring a property this year. Affordability will remain an issue in some high-priced markets, says realtor.com® Chief Economist Danielle Hale, but overall, the national market is looking brighter for buyers who have stayed on the sidelines. Here’s why. More homes are for sale.  For the last few years, a limited number of listings has given buyers fewer choices. But housing experts predict more robust inventory this year. “For buyers, there is going to be more inventory, so that’s a bright spot,” Hale says. “The downside of that bright spot is it might not be in their price range.” The supply of homes for sale under $300,000 may not grow significantly, but they’re also not decreasing, she adds. Home price growth is slowing.  Home prices will still rise but at a much slower pace than the last few years.

Data Breach Prompts Call for More Mortgage Protections February 11, 2019 Hackers recently gained access to the personal data of about 54,000 mortgage borrowers on loans originating from Wells Fargo, Citigroup, Capital One, HSBC, and other lenders. While the loans were being acquired by an investment firm, documents with borrowers’ information were apparently exposed online with no password or other protections. Security experts are unsure how much personal data hackers were able to access, and many of the victims may not know they were affected. The banks say they have had no direct involvement in the data breach because they don’t own or service the mortgages but are working to identify which customers were affected. Hackers could use borrowers’ personal information to establish new credit card accounts or apply for new mortgages, experts warn. Rick Hill, vice president of industry technology for the Mortgage Bankers Association, told  The Washington Post  that ne

How Homeowners Are Confused About Disaster Insurance February 11, 2019 As the threat of natural disasters increases—from hurricanes in the Gulf to wildfires in California—the real estate industry has learned that many homeowners in hazardous areas don’t have insurance policies that will fully cover the cost to rebuild. Such financial burdens add to affected homeowners' anxiety, while also forcing insurance carriers to re-evaluate the accuracy of their coverage. Homeowners who are underinsured may be more likely to walk away from their mortgages and abandon their properties. CoreLogic Chief Economist Frank Nothaft says that was a prominent trend in the aftermath of natural disasters in 2018. Affected areas have seen a spike in delinquency rates, while other parts of the country are seeing a decline, he notes. But many homeowners may mistakenly believe that their insurance payouts should equal the market value of their homes. “Many homeowners assume the cost to

The Tax Snags Homeowners Are Facing This Year February 11, 2019 Tax season is here, and many homeowners may have questions about what they can and can’t write off under the new tax code. One big change: Homeowners who used to write off property taxes and interest paid on their mortgage may no longer be able to entirely. But that doesn’t necessarily mean they’ll pay higher taxes. HouseLogic, the National Association of REALTORS®’ consumer-facing website, offers  guidance and worksheets on the changes for homeowners . Under the new law, the standard deduction every tax filer gets has nearly doubled ($24,000 for married couples who file jointly and $12,000 for single filers). That means most people likely will be better off taking the standard deduction than itemizing their write-offs. However, the number of homeowners who will be able to deduct their mortgage interest under the new rules could drop by 56 percent—from 32 million to about 14 million, according to N

Smart Devices Lend New Opportunities for ‘Home Invasions’ February 11, 2019 A growing number of reports reveal that hackers are increasingly gaining access to homeowners’ smart devices to spy on them. The  Chicago Tribune   recently reported  that a couple in Lake Barrington, Ill., learned their devices were hacked when they heard a deep male voice speak to their 7-month-old son through a baby monitor. The couple also noticed that their Nest thermostat had been turned up to 90 degrees without their control. The male voice then came through their security camera, using racial slurs and other profane language while speaking to the family. Officials at Google, Nest’s parent company, say that although there has not been a wide-scale breach of the devices, customers may need to do more to protect them from being hacked. Last week, Nest sent an email to users, urging them to update their devices’ software and use their security features. Most smart-home devices

Media Rooms: Home Theaters With A New Look February 12, 2019 The home theater is moving out of the basement and into the main living area. Home theaters are being replaced by multifunctional media rooms that feature lounge-style spaces—cozy couches, tables, and chairs around a TV, as well as a place to entertain guests or for the kids to do their homework,  The Wall Street Journal  reports. Homeowners Mark and Kathy Harrison in Indianapolis told  WSJ  they chose to have their home theater in their main living space instead of the traditional spot in a dark basement. By being on the main floor, the room has high ceilings, a fireplace, outdoor views of a lake, and an 85-inch anti-glare TV. “With the old home theater setup, you’re in a dark room, on a lower level away from everything,” Mark Harrison told  WSJ . “This is more convenient. We both have our computers here, so we can do work while watching TV. And the kitchen refrigerator is here, so we can get a drink o

Wallpaper: The Stay or Go Dilemma February 13, 2019 While wallpaper is once again an attractive decorating trend for homeowners looking for textures and accents, it's not for everyone. Designer Jessica Lagrange of Jessica Lagrange Interiors in Chicago works primarily with luxury clients who love wallpaper. Here’s what she advises about the “stay or strip” decision before listing a home. 1. The clash test.  Some wall coverings are neutral, such as those with small patterns, intriguing textures in soft hues, or subtle metallic finishes. These are assets if they’re chosen in conservative or traditional colors, Lagrange says. The litmus test is how severely the print clashes with a range of furnishings and artworks. 2. An education campaign.  There are wallpaper treatments that are extraordinary, such as some scenic wallpapers that cost thousands of dollars. Listing agents should have a strategy in place to educate buyers and other agents who aren’t familiar

Will the Tiny Home Movement Last? February 12, 2019 The tiny home craze has drawn a lot of attention over the last few years, but is it overhyped? Are more homeowners really ready to ditch their spacious digs for living spaces that are 500 square feet or less? Apparently not. Even the priciest places—where homeowners are the most likely to downsize and save on costs—are not favoring tiny homes. Tiny homes comprised only 2 percent of all home sales in New York City and San Francisco over the last eight years, according to a new study from PropertyShark, a real estate data website. Homes under 1,000 square feet made up less than a quarter of all sales in both cities, too. In fact, tiny homes are more prevalent in less dense areas—like Columbus and Indianapolis—than in places more starved for housing space, like Chicago and Philadelphia. However, researchers are quick to note that the differences are still a small fraction of home sales in any of the cities.