NAHB Provides Economic Outlook for 2012

For those of you that like to keep up with the latest news on the state of the Housing Market I thought I would pass along this recent article from the NAHB (National Association of Home Builders) on the their economic outlook for this year.  

Parkinson Building Group

Economic Outlook

While 2012 is starting with the same kind of optimism regarding housing and the economy that prevailed at the start of 2011, there are several reasons to believe that real improvement will actually materialize this year rather than fizzling out as it did in the past, said NAHB Chief Economist David Crowe during our Feb. 11 webinar. In fact, he noted, we are already seeing improving GDP growth, stronger employment figures and slight gains in consumer confidence that bode well for a slow but relatively steady recovery in the months ahead.  Dave noted that NAHB's builder confidence gauge known as the HMI has gained seven points over the past three months, while over the same period, both housing starts and sales have charted consecutive gains and NAHB's list of improving housing markets has continued to grow. Meanwhile, household formations are finally starting to pick up after a big lull during the recession, today's very favorable mortgage rates aren't expected to creep up fast or far over the coming year, and price-to-income ratios are back to what they were prior to the boom years. Of course, all markets are local, and certain metros are already showing greater signs of growth than the national average, as demonstrated by the NAHB/First American Improving Markets Index that has been expanding over the past several months to include a geographically and economically diverse set of metros (story below).  As for the economy, our Chief Economist is forecasting GDP growth in the neighborhood of 2.2% to 2.4% in 2012, followed by more robust growth in the longer-term. NAHB's forecast also anticipates single-family housing starts will gain approximately 17% in 2012 following what was almost certainly the worst year on record in 2011. By far the brightest part of the forecast is for rental apartments, which will enjoy greater demand over the coming year as more young people take their first steps up the housing ladder. This demand accounts for a more-than 50% gain in multifamily housing starts in 2011 from 2010. But remodeling is also in relatively good shape, with the dollar amount of remodeling projects on owner-occupied homes now actually beating the dollar amount of new-home construction taking place. The bottom line for 2012 is that, while demand for new homes won't "burst forward," it will slowly improve now that the overall housing market appears to have reached a bottom and started back on the path to recovery.

A full replay of the forecast webinar is available here; please note that the event begins with an overview of the results of NAHB's recent poll on homeownership, and that the file may take a few moments to download. If you encounter technical issues in viewing this webinar, please contact Paula Pagano (800-368-5242 x8057) 

Housing Market Stabilizing with Energy Efficiency and Outdoor Spaces Still Popular

  The American Institute of Architects' (AIA) 2011 second quarter Home Design Trends survey shows stability in the residential market, but not the recovery predicted after an encouraging first quarter. High-end and custom homes are still faring best among new construction projects, while first-time home buyers remain timid. What has changed in the luxury and high-end sector is that specialty rooms and additions, as well as high-end features within a home, are mostly declining. The exception to that trend is a strong rise in home offices and an equally impressive number of requests for outdoor living. Remodeling and additions, a persistently strong segment of the residential market, continues to show moderate gains thanks to clients looking for accessible spaces, energy efficiency, and home technology upgrades.

"Demand for home offices for telecommuting remains strong," says Baker, adding that "trends toward informal lifestyles, as well as more home-centered activities, have helped maintain interest in outdoor living areas and mudrooms." Other requests still on the rise focus on accessibility and energy efficiency. Backing up those trends, the most requested products include those promoting energy-savings and management, as well as wireless communication systems. Seventy percent of respondents saw requests for simple green upgrades such as alternative or additional insulation grow over the past three months. With regard to accessibility, the most desired items include first-floor master suites, open showers with no floor level changes, ADA-compliant faucets and door handles, and ramps or elevators.

WHAT WOULD YOU CHOOSE?

Here is a new kind of post from your friends at Parkinson Building Group.  Instead of always talking about what we like, we want to know what you like.  Your living room should reflect your personal style and what makes you feel comfortable. so with that in mind, its time for you to look at the living rooms below.....tell me, which would you choose? 

 CHOICE 1. Calming, inviting, and old world elegance.

CHOICE 2. Opulent, fussy and European.

  CHOICE 3. French inspired, airy and formal

  CHOICE 4.  Warm, bright and soothing.

CHOICE 5. Tuscan, welcoming and cozy

CHOICE 6. Cool, modern and classic.

CHOICE 7. Shabby chic, charming and sweet.

CHOICE 8. Bold, modern and crisp.

CHOICE 9. Coastal, airy and inviting.

CHOICE 10. Warm, rustic and grand.

First Impressions are Lasting Impressions

Entryways are the first space and sometimes the only space guests see of your home, yet often entryways are neglected.  The entryway’s significance is greater than it’s size.  It should have enough room for visitors to linger while coming and going. 

When choosing paint, furniture, and seating, make sure you are sending the right message to your guests.  Your entryway should always reflect your home’s style.  Architectural elements help define the area, but decorating choices play a major role in creating a warm and welcoming feeling.   

Take a look at these different styles of inviting entryways......

We love the faux-painted marble tile foyer floors.

I really like the rustic look of this entryway.  All the antique American hooked rugs in this house were designed by Barbara Westbrook, including those in this entryway.

The tone-on-tone striped wallpaper from Nina Campbell's Bodleian collection brings the sun inside even on a cloudy day.

I love how the large mirror and console are offset with the low slipper chairs and single wall sconce.  A true style statement that makes you feel welcome and at home.

How creative is this transformation from a coat closet into a wine cellar with custom wine holders that were created out of solid walnut and stacked in such a way that they create a very architectural feel. Now, the staircase is much more open with glass replacing the drywall, and the entire area went from boring to functional and eye-catching.

We love that Designer Jonathan Adler wanted the foyer to have a clean, breezy look. Walls are painted Pocket Watch White by Ralph Lauren; the floor is marine deck paint.

The natural stone and antique beams make this entryway a truly welcoming space for visitors.

Luxurious Master Baths

In the most literal sense, the word bathroom means “a room with a bath”.  Today’s master baths are anything but that.  Homeowners are now incorporating luxury and style to create lavish retreats.  Whether that means hanging an extravagant chandelier over a soaking tub or adding a built-in warming drawer for towels, you can incorporate luxury into any design.  Although a master bath should be a calm, quiet retreat, this does not mean you have to sacrifice style.  

Here are some luxurious master baths that we love.....

I love this master bath, by Dana Lyon, with its luxurious Empire tub and polished nickel Etoile fixtures by Waterworks, has a view of a private enclosed garden.

I really feel that this spa-like bathroom with Waterworks Classic oval tub creates a very elegant look. 

I think the Double French doors make this master bathroom designed by Karyl Pierce Paxton.  The sink base is an 18th-century French buffet with Kohler fixtures.

A vanity table links a pair of mirrored bureaus fitted with sinks. I love the thick slabs of honed Calacatta marble for backsplashes and counters, along with Waterworks Opus faucet and an antique gilt mirror, complete the dressy, old-world European feeling.

In this master bath designed by J. Randall Powers, the rays of an antique starburst mirror hung in a round window are echoed in a contemporary wheelback armchair. The limestone floors, marble countertops, and alabaster urns reference ancient Roman materials.

I love how designer Barry Dixon fashioned this elegant master bath to appear as a garden room with a set of French doors that open up to a balcony. The corner table is for sipping morning coffee while lounging in a bathrobe.

In this master bathroom, designed by Paolo Moschino, a 19th-century English secretary makes a surprising focal point.

In this master bathroom, designed by William Hodgins, the greatest luxury of all: a tub with a garden view. Adding sparkle are an antique mirrored table and white basket-weave floor tile from Waterworks.