As the subprime mortgage meltdown sends delinquencies soaring, up to 1.2 million homeowners could lose their homes this year. But in some cases, that doesn’t have to happen. As this scandal has unfolded, lenders have said repeatedly that they don’t want to foreclose on homes. They generally don’t make money by taking over a delinquent owner’s property, so it’s a losing proposition that they consider to be a last resort. Every time his bank forecloses on a homeowner, it costs an average of $40,000. Lenders would prefer to help delinquent borrowers get back on track, and they have many options at their disposal to do so. Read more

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An attractive laundry room can make the difference between a house that sits on the market and one that sells, says Sid Davis, author of Home Makeovers that Sell (AMACOM, 2007).“It’s the wow factor that gets you full price for a home,” he says.

Here are some tips that Davis and interior designer Jackie Terrell say work:
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His and Her bedrooms are the hot new trend in custom homes.

In a February survey by the National Association of Home Builders, builders and architects predicted that more than 60 percent of custom houses would have dual master bedrooms by 2015, according to Gopal Ahluwalia, staff vice president of research at the builders association.
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Ceramic tile in shades of green, yellow, blue, or pink, often outlined in black, was all the rage in 1957. But it’s 2007 — and these days, those color schemes don’t look so hot.

Home owners and potential buyers have several options to either rid themselves of an old-fashioned bathroom or modernize its outdated look, including:

• Rip it out and replace it. This is the most expensive option — and often it’s harder than it looks. Those old tiles were set in a thick mortar base and getting rid of it can be an ordeal. Read more

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Whether the sellers have already moved out of their home, or if they’re just on a spring break vacation, it’s always smart to make a vacant home look like it’s lived-in. After all, empty homes are easy targets for theives and other criminals.

The Florida Association of REALTORS® offers this advice for making a home look like it’s occupied:

• Install timers on interior lights so they turn on and off periodically. Many timers cost less than $25. Some more costly products are capable of varying the time that your lights turn on. Also consider leaving your radio on and tuned to an all-news or talk show station.

• Install exterior lights that are controlled by motion sensors to make the home a more difficult target for prowlers. Read more

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The slowdown in the housing market hasn’t curbed consumers’ desire for upscale kitchens and baths, says American Institute of Architects Chief Economist Kermit Baker.

“Households continue to emphasize size, features, and high-end products used in their kitchens and baths even as the overall housing slowdown has encouraged many to scale back on their overall housing investment,” he says.

No longer just a place to cook, the kitchen has evolved into the most popular room in the house. “There’s a strong desire to integrate the kitchen with living space that allows for a more open home environment with the ability to converse and access entertainment options while in the kitchen,” says Baker.

In the most recent AIA design trends survey, 40 percent of architects report a trend toward larger kitchens. Almost one-third see separate kitchen facilities (other than the main kitchen) or secondary food preparation or food storage areas as also increasingly appearing in homes.

Kitchens also are an area where owners are likely to upgrade. “Upper-end appliances are becoming more popular, even for homes that aren’t at the upper end of a price range,” says Baker. Read more

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Designing for the 55-plus crowd is the most powerful trend in home building these days.

Americans aged 55 and older will buy 20 percent of all new homes built this year, according to research by the National Association of Home Builders. Design features that cater to them have to be both practical and boast a “wow” factor.
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After posting quarterly gains of as much as 20 percent in 2004 and 2005, remodeling expenditures rose only 1.5 percent to $168.7 billion in the last three months of 2006, reports the Joint Center for Housing Studies at Harvard.

The return on investment for certain home improvement projects also declined last year. According to Hanley-Wood’s Cost vs. Value survey, home owners recouped only 77 percent of a $38,000 bathroom remodel in 2006, compared with 93 percent the prior year. Manufacturers are responding to reduced project budgets by releasing affordable products with an upscale appearance. Read more

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The home that inspired Truman Capote’s novel “In Cold Blood” is for sale.

The Clutter home was built in 1948 on a tract of land known as the “River Valley Farm” west of Holcomb, Kansas.  The home was designed with many custom features popular at the time. Original hardwood floors are throughout the main and second floor of this brick two-story home.

The living room features a wood-burning fireplace and the formal dining room has a built-in china hutch. The sunny breakfast nook with dining bench boasts the original fabric. Block glass and ceramic tiles create a unique main floor bathroom.

This beautiful home designed by Herb Clutter with family in mind offers 5 bedrooms, three baths, a large utility room, spacious kitchen and unfinished basement with a second fireplace.  The utility room and basement provided ample space for the children to work on 4-H projects and school activities. The office has a separate entrance and the original built-in storage and display shelves.

The home has approximately 3,600 sq. ft. on the main and second level as well as approximately 1,700 sq. ft. in the basement. Approximately seven acres (more or less) will be included in the sale and will be determined by a survey. The detached two-car garage and large quonset are also included in the sale. Read more

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Antares Investment Partners, a private-equity and development firm, hopes to capitalize on the strength of the high-end housing market in Greenwich, Conn., by speculatively building several mega-mansions.

While most affluent buyers purchase the land and design the house themselves, opposition from neighbors and tough regulations make building mansions a challenge in the city.
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