Rebecca Wood

Rebecca Wood, manager of analysis for the Irvine, California-based Meyers Group, one of the largest real estate information sources for homebuilders, says that new homes tend to reflect not only demographic preferences for style, but regional weather and lifestyle differences, whether it be urban, suburban, or rural.

Weather Makes a Difference

"Areas like the Northeast and the mid-Atlantic are not as conducive to stucco construction because of weather extremes, going from cold winters to hot, humid summers, where stucco doesn't hold up as well," says Wood.
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Indoor/outdoor living has changed somewhat over the years, according to Wood."Homes in seasonal weather areas used to routinely include screened-in porches and patios, which became a sort of family room in good weather," said Wood.
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"In some areas, front yard landscaping, driveways and walkways are left up to the homeowner to put in later," says Wood."Here in the West, builders are often required to not only provide a minimally landscaped front yard, but also provide driveways, walkways and even provide the city with sidewalks while they're at it," she said.

Celebrate Differences

By:Jonathan Dienhart and Rebecca Wood

As for this year, The Meyers Group economist Rebecca Wood anticipates a 10 percent slip in home sales due to the lagging economy and the threat of war with Iraq.

Outlook Dreary for Apartment Owners(January 15) -- The apartment industry is struggling through a major downturn due to factors including a weak demand for rental units, low interest rates that have prompted former renters to buy homes, and continued development in some markets.

NAR: Real Estate Outlook Strong for 2003(January 8) -- Both existing- and new-home sales will be somewhat slower in 2003 but should record their second-best showings ever, according to the NATIONAL ASSOCIATION OF REALTORS.

Rebecca Wood, an economist at The Meyers Group in Costa Mesa, Calif., expects a 10 percent sales drop "due less to economic conditions and more with homeowners deciding to stay put" as international tensions play out.

• The year started with the all-time low weekly average interest rate recorded by mortgage investor Freddie Mac -- 5.85 percent for a 30-year mortgage.Experts are divided on whether that will hold up as the lowest this year.But none foresees rate increases big enough to end the strong market.

From: Rebecca Wood rwood@meyersgroup.com
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Dr. Rebecca S. Wood The Meyers Group 777 South Pacific Coast Highway, Suite 100 Solana Beach, CA 92075 (858) 792-8276 xt235

Rebecca Wood, manager of analysis for the Irvine, California-based Meyers Group, one of the largest real estate information sources for homebuilders, says that new homes tend to reflect not only demographic preferences for style, but regional weather and lifestyle differences, whether it be urban, suburban, or rural.

Weather Makes a Difference

"Areas like the Northeast and the mid-Atlantic are not as conducive to stucco construction because of weather extremes, going from cold winters to hot, humid summers, where stucco doesn't hold up as well," says Wood.
...
Indoor/outdoor living has changed somewhat over the years, according to Wood."Homes in seasonal weather areas used to routinely include screened-in porches and patios, which became a sort of family room in good weather," said Wood.
...
"In some areas, front yard landscaping, driveways and walkways are left up to the homeowner to put in later," says Wood."Here in the West, builders are often required to not only provide a minimally landscaped front yard, but also provide driveways, walkways and even provide the city with sidewalks while they're at it," she said.

Celebrate Differences

As for this year, The Meyers Group economist Rebecca Wood anticipates a 10 percent slip in home sales due to the lagging economy and the threat of war with Iraq.

Rebecca Wood, manager of analysis for the Irvine, California-based Meyers Group, one of the largest real estate information sources for homebuilders, says that new homes tend to reflect not only demographic preferences for style, but regional weather and lifestyle differences, whether it be urban, suburban, or rural.

Weather Makes a Difference

"Areas like the Northeast and the mid-Atlantic are not as conducive to stucco construction because of weather extremes, going from cold winters to hot, humid summers, where stucco doesn't hold up as well," says Wood.
...
Indoor/outdoor living has changed somewhat over the years, according to Wood. "Homes in seasonal weather areas used to routinely include screened-in porches and patios, which became a sort of family room in good weather," said Wood.
...
"In some areas, front yard landscaping, driveways and walkways are left up to the homeowner to put in later," says Wood. "Here in the West, builders are often required to not only provide a minimally landscaped front yard, but also provide driveways, walkways and even provide the city with sidewalks while they're at it," she said.

Rebecca Wood, an economist with The Meyers Group, agrees.Consumers "are not so sure about the job market," she says.

Rebecca Wood, an economist at The Meyers Group in Costa Mesa, Calif., expects a 10% sales drop "due less to economic conditions and more with homeowners deciding to stay put" as international tensions play out. The year started with the all-time low weekly average interest rate recorded by mortgage investor Freddie Mac - 5.85% for a 30-year mortgage.Experts are divided on whether that will hold up as the lowest this year.But none foresees rate increases big enough to end the strong market."I think 9% is the current threshold for disaster," says John Burns, an Orange County, Calif.-based consultant to builders. Nationally, prices should continue to rise, but at a slower rate - perhaps 4% or so, most of the experts say.