To find the cities with the greatest potential for growth, Builder Magazine as Hanley Wood Market Intelligence to consider local factors, such as major universities, military bases, and the strength of businesses in the private sector. The study also considered Economy.com’s housing projections, expected price appreciation, and estimated employment and income growth.

Under those criteria, two Florida cities made the top eight nationwide. Jacksonville came in at No. 4, and South Florida (Miami-Fort Lauderdale-Pompano Beach) ranked No. 5.

In Jacksonville, surveyors expect the number of building permits to almost double between 2011 and 2012, rising from 2,284 to a forecast of 4,363. The number of jobs will grow, the financial businesses will grow, and a military base will continue to call Jacksonville home. The builders believe housing prices will rise 5 percent in 2012.

In South Florida, surveyors believe building permits will skyrocket 178 percent: from 2,708 in 2011 to 7,522 in 2012. Unemployment will, according to forecasts, stop declining and rise 2.7 percent next year. Builders say the rosy picture is driven in large part by two big projects that will add over 10,000 jobs: the CitiCentre and Resorts World Miami.

The complete list of cities in the top eight include:

1. Minneapolis-St. Paul-Bloomington Minn.-Wis.
2. Fort Collins-Loveland, Colo.
3. Salt Lake City, Utah
4. Jacksonville, Fla.
5. Miami-Fort Lauderdale-Pompano Beach, Fla.
6. Charlottesville, Va.
7. Colorado Springs, Colo.
8. Oklahoma City, Okla.

Source: “Healthiest Housing Markets: Mid-2011 Update,” Builder Magazine, Boyce Thompson

© 2011 Florida Realtors®

The bipartisan bill, SAVE Act (Sensible Accounting to Value Energy) would require the three major mortgage agencies – Fannie Mae, Freddie Mac, and the Federal Housing Administration – to factor energy costs into every loan they insure, guarantee or buy. To gather estimated costs of energy bills on a home, lenders would use data from previous utility bills or from an Energy Department survey database.

The bill also calls on the mortgage agencies to instruct appraisers to raise their property valuations when energy efficiency savings on a home can be shown. The higher value could then be used by a buyer to justify a higher loan amount if needed.

Source: “Mortgage Lenders Could Soon Take Homes’ Energy Costs into Account,” BostonHerald.com (Oct. 30, 2011)

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WASHINGTON – Sept. 8, 2011 – The Energy Star program has been criticized for allowing too many home appliances to carry the energy efficiency label, so the Environmental Protection Agency and the Department of Energy, which jointly run Energy Star, announced the rollout of a new label – “most efficient.”

The “most efficient” label is reserved for the utmost energy-efficient washers, dryers and other appliances.

The Energy Star Most Efficient program will start on a pilot basis through the rest of the year, USA Today reports. The designation will be reserved for the top 5 percent of energy-efficient products.

Appliances first eligible for the designation will include clothes washers, heating and cooling systems, televisions and refrigerator-freezers. In the fall, the EPA will consider new categories for the label.

The “most efficient” products must “demonstrate efficiency performance that is truly exceptional, inspirational or leading-edge – consistent with the interests of environmentally motivated consumers and early adopters,” according to EPA’s guidelines.

To view a list of products that have so far received the new label, visit energystar.gov/mostefficient.

Source: “New ‘Most Efficient’ Label Takes Energy Star Step Further,” USA Today (Aug. 29, 2011)

MCLEAN, Va. – Aug. 17, 2011 – Despite the recent ups and downs in the capital markets, Freddie Mac’s U.S. Economic and Housing Market Outlook for August finds room for optimism. First, an extended period of both low short- and long-term interest rates should help as the market continues to struggle.

Outlook highlights

• The employment number was up 117,000, the best showing since April, and the unemployment rate edged down a tenth to 9.1 percent.

• Over the first half of 2011, growth was figured to be about 0.8 percent at an annual rate – positive but too weak to generate enough jobs to keep pace with labor force growth.

• Compared with the first quarter of 2008, borrowers are paying about $130 billion less in mortgage interest today, at an annual rate.

• The likelihood of an extended period of both relatively low short- and long-term interest rates is helpful news for the housing market’s recovery.

• Interest rates on 15-year fixed-rate loans – a popular choice for refinancing borrowers – reached about 3.5 percent in early August, assuring the refinance boom continues.

• The Freddie Mac House Price Index for the U.S. shows that prices are down 25 percent, on average, as of June 2011 compared with their peak obtained five years ago.

The complete August 2011 U.S. Economic and Housing Market Outlook is available on Freddie Mac’s website.

© 2011 Florida Realtors®