The Pontchartrain Vineyards Has New Owners

 Monica Bourgeois and Neil Gernon, a New Orleans couple, decided to purchase Pontchartrain Vineyards last November after they visited the winery's Jazz'n the Vines events featuring Charmaine Neville. The wine spot was put up for sale last summer.

“You could see every star, it was one of the most charming things I’ve ever seen,” Bourgeois said.

The couple will plan to reopen the vineyard under the new name Wild Bush Farms & Vineyards. They love the vineyard but want to put their own stamp on it. They have painted the tasting room walls and replaced the furniture. That will add a ping pon table, frisbee golf and a movie screening area. The couple will keep the traditional Jazz'n the Vines events every spring and fall.

“It’s going to be this really cool viticulture playground out here,” she said. “There are hardly any wineries in Louisiana and I don’t know anyone that’s trying to do what we are going to attempt to do out here. We're going to do the style of wines we would enjoy drinking from around the world: thoughtful, honest, sustainable wines and that’s what we want to focus on, building an ecosystem, producing things of nutritional value that are beautiful.”

Monica and Neil are no strangers to the wine industry. Both worked in the wine distribution and retail industry on Magazine Street in New Orleans. In fact, in 2009 the couple, along with a vineyard owner in Napa, founded Vending Machine Wines. The results were nice red blends with California grapes and Louisiana flare.  There was a Double Shotgun, a Cabernet Franc and Petit Verdot blend, and a Cabernet Sauvignon called Crooked Mayor, which she said “speaks for itself.”

"We'll have a lot of different offerings for a lot of different people," Bourgeois said.

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Five New Rules To Follow When Purchasing A Home In This Current Red-hot Market

 The COVID-19 pandemic played a large part in the current strong housing market. Bidding wars have been predominant for the past year and a half. Now that the interest rates are starting to rise, the competition is getting even stronger. Here are five new rules to follow when buying a home in 2022.

1. Lock in a mortgage before you start your search

In the past, homebuyers would find a home and then get pre-approved. This is not the case in 2022 because of the strong demand. This fast-paced market makes it essential to get pre-approved before you start the homes search process.

“You should be pre-approved by a lender and knowledgeable about your finances before you even begin your home search,” says Beverly Burris, an agent with William Means Real Estate in Charleston, SC. “With houses going under contract as quickly as they are right now, often within days or sometimes hours of going to market, there is no sense in going to see a property before speaking to a lender and learning what you can afford.”

2. Shop for homes priced below what you can afford

Once you get pre-approved you then know how much you can afford. Homebuyers in the past have purchased a home on the high end of their mortgage approval and that resulted in a recession. Today, homebuyers are encouraged to purchase a home below the top of their price range.

“These days, houses are selling for more than their list price and, as a buyer, you’re more than likely going to end up in a bidding war,” Lori Ozley, a manager with Birmingham HomeBuyers explains. “If you look at properties that are under your budget, you’ll have room to submit a competitive offer that goes above the asking price.”

3. If you love a property, act fast

Purchasing a home is a big deal so most homebuyers want to think on it before they make the big leap. Today's market does not afford homebuyers this luxury.

“If you are interested in a property, you must act quickly or you risk losing out to another offer. When you really like a property, you should sit down with your real estate agent, go through the comp research, and work on putting together an offer the very same day,” says Bill Samuel, the agent and investor behind Blue Ladder Development.

4. Put your big number out there from the start

When it comes to purchasing property, negotiations have always been part of the process. This is not the case today in this hot market. Homebuyers need to put their best offer forward at first.

“Be prepared to make your best and final offer from the beginning,” advises Jodi Dougherty, a luxury broker at Downtown Realty Company in Chicago. “Since sellers often receive multiple full-price offers, you may not get an opportunity to counteroffer if you come in too low.”

5. It will probably take multiple tries before you succeed

Don't give up, there are tons of other homebuyers looking at the same homes in the same market. It might take more than once to put your best foot forward and have your offer accepted.

‘You can almost plan on having several offers not go through before one is accepted,” explains Brian Chinn, leader of the Brian Chinn Team at Newberry Real Estate in Tyler, TX. “While that isn’t always the case, it happens more often than not in this market.”

If you are interested in purchasing a new home, contact a Realtor who can help you through the process. “It’s easy to get frustrated,” Chinn adds, “but having patience is key.”

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Last Three Months of 2021 Saw Growth for U.S. Builders

 

December 2021 date shows that the construction of new homes climbed for the third consecutive month. Reports find that new construction homes are at a seasonally adjusted annual rate of 1.7 million units. Close to 1.6 million housing units were started at a 15.6% increase over 2020.

Even with the rising interest rates, the housing market is still going strong. The average long-term U.S. mortgage rates rose to the highest levels since March 2020 in January 2022. Lawrence Yun, chief economist for the National Association of Realtors, says economists expect to see an increase in mortgage rates this year. This is due to the Federal Reserve slowing down on purchasing monthly bonds.

Applications for building permits rose 9.1% to a seasonally-adjusted rate of 1.87 million units. This is the strongest month for permits since the beginning of the year in January 2021. Applications for building permits can forecast future building activity. Housing starts in the Northeast and the Midwest rose the most at 20% and 36%.

The National Association of Home Builders and Wells Fargo monthly survey, which gauges builder sentiment, reported that it still remained stable. This is good news since builder sentiment was down slightly to 83 at the beginning of 2022.

“Demand exceeds supply, and builders are working as hard as they can to catch up, a process that was always going to be measured in years, not months, after the massive shift in demand toward single-family homes sparked by the pandemic,” said Stephen Stanley, chief economist for Amherst Pierpont.

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Reason To Purchase A New Home Before Selling Your Current Home

Selling a home and moving are some of life's most stressful events. It is hard to schedule a closing for your new home and current home in order to move in one and out of the other. Flyhomes, a real estate brokerage, says to consider purchasing a home before you sell the one you are currently living in. Here are a couple of reasons to purchase a home before you sell your old one.

It gives you time to find the perfect home

Getting an offer on your current home is exciting but can be stressful because that means you have to find a new home to move into before your closing date. Rushing to purchase a new home will only make you more stressed with the process. A way to take off some of the pressure is to purchase a new home before selling your current one. You will be able to take your time and purchase the perfect home. This is another way to avoid extra expenses from moving and storage and temporary housing.

It can make your offer more competitive to sellers

Many times a buyer has a home they have to sell when making an offer on a new home. It is a competitive market and a buyer has to pull out all the stops. Having a contingency to sell a home on your offer puts limits on it. If you purchase a home without selling your current one, your offer will be much stronger.

Remember using a professional sales agent is a must. If you want to take this approach, choose a Realtor who can help you through the process.

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2022 Trending Home Designs

 With the new year comes new trends in home designs. Glen-Gery, a premier brick and stone manufacturer, says to consider incorporating materials like stone and brick, which bring color, texture and functionality while complementing some of this year’s leading design trends. Here are the trends for 2022 that Glen-Gery shares.

Warm Colors

This year the trend is using warming colors. These include beige, tan, caramel, cocoa and even black. Designers are beginning to take a shift from cool tones like gray to the warmer "coffee-inspired palette." These colors give materials such as brick, stone, siding, doors and shutters a warmer feel.

Textures and Patterns

These are becoming a staple in the 2022 home designs. Texture can draw a person to a room by adding depth and complexity. Using brick or stone is a perfect way to provide visual texture to any space.

Outdoor Inspiration

This year's design elements are nature-inspiring. Homes will have more glass that will bring in the natural light and nature scenes. During the stay-at-home orders from the pandemic, homeowners learned to use their homes for outdoor enjoyment as well as indoor enjoyment. Bringing the indoors outdoors is a big trend for this year. The transitional indoor-outdoor spaces are great for this trend. Indoor kitchens, fireplaces and electronics are popular for outdoor spaces.

Clean Lines

Clean line designs are a designer's best friend this year. These clean lines make a space inviting, comfortable and serene. Glass and brick are great materials for this. They both can transfer light giving a space an illumination from a higher sheen which creates a sense of balanced calm and strength in a space.

Bringing On-Trend Design into Your Home

Brick is a great versatile material that can be added to any home design. Brick comes in tons of different colors, textures and sizes. From modern designs to traditional designs brick brings flexibility. Brick is also a material that is low maintenance, resilient, durable and ascetically pleasing.

If you are planning to build or renovate, these trends are a must to use. Following these trends will not only update your home but add value to your investment.

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Several To Follow Tips For Single Homebuyers

 Just because you are single doesn't mean owning a home is not a reality. In fact, Freddie Mac reported that 28% of all households are sole-person. That is roughly 36.1 million and is still increasing.

“Our calculation suggests that there will be an additional 5 million sole-person households in the United States by the next decade. This means 42% of the household growth will be contributed by sole-person households," concludes Freddi Mac.

Here are several tips to follow if you are single and want to make the dream of homeownership come true.

1. Know Your Credit Score

When you purchase a home solo, you will only have your credit score to depend on. In order to qualify for a loan, you will need stable finances and good credit history. According to Investopedia, since lenders are only looking at one score it needs to be in tip-top shape. They recommend reviewing your credit report before starting the lending process.

Knowing where your credit score falls will help your decision on if and when you should take that leap of faith in purchasing. If your credit is not so good, focus on improving it before starting the home buying process.

2. Explore Down Payment Options

A down payment is another factor to consider. If you do not have enough saved up, there are down payment programs that can help you determine how much and how to save for a home. A loan officer can help you determine which loan program best suits your personal financial needs.

3. Think About Your Future Home and Your Needs

There are so many homes to choose from when it comes to styles and options. Spend time thinking about what type of home will fit your lifestyle. Here are some questions to think about when considering what type is best for you. Do you want a short commute to and from work? Do you want a big yard for a pet or space for outdoor entertaining? Do you want an extra bedroom for guests? Do you want a home office due to working from home? Do you want a condo with lower maintenance than a detached home?

The process seems daunting and can be a challenge but with a Realtor on your side, it becomes a much easier process. A professional sales agent can help you make the best choice for the right price.

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Home Builder Confidence Builds Stronger For Fourth Consecutive Month

 

Homebuilder sentiment was strong at the end of 2021 according to the NAHB/Wells Fargo Housing Market Index (HMI). This is good news for the home building market despite the inflation scares and material shortages. The NAHB/Wells Fargo Housing Market Index (HMI) reported the builder sentiment in the market for newly-built single-family homes moved one point higher to 84 in December.

As for the regions, the three-month moving averages for regional HMI scores rose in all of the four regions. Both the West and South saw an increase to 87, and the Northeast and Midwest both were are 74. The seasonally adjusted rates for the four regions were the highest in the South at 89, in the West 87, in the Northeast 79, and in the Midwest at 74.

“While demand remains strong, finding workers, predicting pricing and dealing with material delays remains a challenge,” said NAHB Chairman Chuck Fowke. “Policymakers need to work on supply chain improvements and controlling costly inflation. Addressing lumber tariffs would be a good place to start.”

“The most pressing issue for the housing sector remains lack of inventory,” said NAHB Chief Economist Robert Dietz. “Building has increased but the industry faces constraints, namely cost/availability of materials, labor and lots. And while 2021 single-family starts are expected to end the year 24% higher than the pre-Covid 2019 level, we expect higher interest rates in 2022 will put a damper on housing affordability.”

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