Square footage for homes on average is decreasing in size, according to Amy Hoak’s report from Market Watch. The average square foot print of a home has shrunk from 2,520 sq ft in 2008 to 2,480 sq ft in 2009, a clear trend that builders are responding to the demand for smaller more efficient homes. Click here to link out to the Builder Magazine Concept Home website.
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Glenn Hanon
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My trusted smart phone kicked the bucket the other day and I was forced rather quickly to think about another phone. Not wanting to switch carriers, I did decide to jump into the Apple world. Both of my sons have Apple laptops and brag how the “old man” needs to get with it. So, I bought the iPhone 3GS and started looking at some of the apps that my guys were always talking about. Here is a cool one I found for Real Estate; Sherwin Williams—you know the paint store, they have this cool app. So let’s say you are thinking about re-painting the living room, but your favorite couch is not in need of re-covering. Well take a picture with your iPhone of the couch and the app will give you the primary color and two secondary colors that you could use to accent the room with. even gives you the Sherwin Williams paint numbers so you could go to the store and get a sample! How cool is that? If you have an iPhone, the app is FREE. 
Shorewest also has this really cool app for finding homes with a geo locator feature. Let’s say you’re having your favorite cuppa at Starbucks in Oconomowoc and you want to know all the available homes for sale around your location. If you have loaded the FREE iPhone app for Shorewest it is a snap. A couple quick taps on the phone and voila you have the latest inventory at your fingertips, literally! Click here to view and download the free Shorewest Iphone app.
Posted by:Glenn Hanon
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Well it might not be there in time for many home owners who find themselves “underwater” in their mortgage. As a heads up the new HAMP program or Home Affordability Modification Program, that Washington put in place, has a few changes that were recently implemented. The goal is to streamline the process. Click Here for more information on the HAMP changes.
In other news, a report recently released indicates that FHA is in good shape. Some people critical of the FHA were concerned that they are taking a bigger risk in the mortgage business with their dramatic increase in market share. This story makes the point that their share has risen from a 3% market share to a 30% market share almost overnight. A personal note: FHA has played a role in the real estate recovery; however the low down payments are very concerning. Yes FHA requires a higher credit score, however even with good credit if one of the two persons who are buying the housing loses a job (a possibility in this economy) or their income is adjusted slightly, does FHA think those borrowers wont default? These are difficult times for everyone. The sooner we move towards responsible lending and borrowing the better our recovery will be. If the borrowers continue to live on the edge we could face another round of difficulties.
Posted by:Glenn Hanon
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