Home sales likely will remain subdued early on in the year before picking up in the second quarter and then maintaining a brisk pace for the rest of the year, predicts a new Reuters poll of economists. Housing activity has been bumpy so far. The National Association of REALTORS® reported this week that existing-home sales tumbled to a nine-month low in January.

But economists polled by Reuters are optimistic that a turnaround will occur due to a strengthening job market that is expected to offset some of that drag.
“We expect the housing market to improve this year,” David Nice, an economist at Mesirow Financial in Chicago, told Reuters. “It is only a matter of time until the improved jobs market has a positive effect on the housing market. We are betting that first-time buyers return this year.”

The economy has added more than a million jobs over the past three months. The improvements in the labor market are expected to prompt the Federal Reserve to start raising interest rates later this year, an event that likely will push up mortgage rates too. The 30-year fixed-rate mortgage currently is averaging 3.76 percent, according to Freddie Mac. Reuters poll of economists predicts a lower jump than originally anticipated in mortgage rates, with the 30-year fixed-rate mortgage expected to average 4 percent this year and rise to a 4.58 percent average in 2016. (Originally, economists had projected a 4.55 percent average rate this year and 5.20 percent next year.)

Also, economists point to a housing turnaround due to the government’s easing of credit that will likely prompt more first-time home buyers to make a move this year. What’s more, “soon, there the improvement in equity positions will be large enough that owners who couldn’t sell but wanted to will be able to list their units,” Joel Naroff, chief economist at Naroff Economic Advisors in Holland, Pa., told Reuters. “That would increase supply and make house shopping easier.”

(Source: Realtor.com)

As a third generation real estate agent and native of Arizona, I am passionate about helping you and your loved ones achieve your real estate goals. If you are buying or selling in Gilbert or any of the East Valley cities, trust that I will go the extra mile to ensure a smooth and successful transaction.

Last summer, Cody Vasquez ate lunch with first lady Michelle Obama at the White House. The gastronomic 12-year-old had created a healthy recipe for shrimp tacos with a watermelon jicama salad, which won him the trip.
Now, the Gilbert boy will make his national TV debut, appearing on a baking competition. He’s one of eight contestants ages 10 to 13 competing on “Kids Baking Championship,” a four-part series that debuts Monday, Feb. 2, on the Food Network.

Cody’s family owns three Mexican restaurant concepts around the state: Someburros, Isabel’s Amor and Poncho’s. He likes to cook and bake but prefers cooking because of the freedom it allows. “Baking is more like a science,” he said. “You have to follow the recipe and use precise ingredients so it rises and doesn’t become flat.” During the show’s challenges, he relied on advice from his grandmother to help him focus. She told him not to change measurements and to “stay calm — once you start baking, it calms yourself.”

Celebrity baker Duff Goldman and Golden Globe award-winning actress Valerie Bertinelli are the hosts and judges. Bertinelli is the best-selling author of “Losing It, Finding It: And Satisfying My Hunger for Life Without Opening the Fridge” and “One Dish at a Time.” Goldman owns Charm City Cakes in Baltimore and starred on Food Network’s “Ace of Cakes.” His new series is called “Duff Till Dawn.” Goldman was expected to be in Glendale during Super Bowl week to kick off the DIRECTV Super Fan experience with a custom cake.

The “Kids Baking Championship” winner will receive a complete set of Food Network bakeware products, a profile in Food Network Magazine, an original cake featured at Charm City Cakes and $10,000.

The other contestants are Caroline Binkley, 13, of Delaware, Ohio; Annika Coffman, 12, of Boise, Idaho; Jackson Fujimori, 11, of Torrance, Calif.; Hollis Jackson, 13, of Jacksonville, Fla.; Payton Pelaez, 10, of San Francisco; Anthony Smith, 11, of Rochester, N.Y.; and Natalie Venable, 11, of Thousand Oaks, Calif.
If you missed it, go to foodnetwork.com to watch the video

(Source: azcentral.com)

As a third generation real estate agent and native of Arizona, I am passionate about helping you and your loved ones achieve your real estate goals. If you are buying or selling in Gilbert or any of the East Valley cities, trust that I will go the extra mile to ensure a smooth and successful transaction.