WHAT: A four-bedroom midcentury modern with four baths

HOW MUCH: $1,549,000

SIZE: 3,368 square feet

PRICE PER SQUARE FOOT: $459.92

SETTING: Encino is an affluent section of Los Angeles on the north slope of the Santa Monica Mountains, bordering city and state parkland extending to the Pacific Ocean. This house is on a curving residential road less than a half-mile from the Encino Reservoir. Neighboring properties are a mix of midcentury moderns, ranches and large, newer houses built on teardown lots. Ventura Boulevard, a commercial corridor two miles away, is lined with grocery stores, small shopping centers and restaurants, including a preponderance of sushi bars (almost 10 places within a couple miles). Nearby San Vicente Mountain Park, high above an unpaved section of Mulholland Drive, has 360-degree views and access to horse and mountain-biking trails.

INDOORS: This single-story L-shape midcentury modern was built in 1964, with walls of glass overlooking the city and canyon. Common areas are on an open floor plan, with nearly every room oriented around the patio and pool. Seventy-two solar panels were built on the roof within the past few years, powering the property, and most rooms now have built-in speakers with individual room volume control. Floors are terrazzo in the entryway; in the rest of the house, they’re Pebble Tec, a mixture of epoxy and pebbles commonly used to finish pools, selected here to give the house an indoor/outdoor feel. The living room and adjoining den both have gas fireplaces. A Sub-Zero refrigerator was added to the kitchen within the past few years. Three of the bedrooms, including the master, are at one end of the house; the other, a suite, is beyond the kitchen. The master bedroom is part of a suite with a bathroom, a dressing room and access to the pool and patio.

OUTDOOR SPACE: Adjoining the pool is a lawn and garden. The lot is a little over a third of an acre.

TAXES: $19,362.50 (approximately)

CONTACT: JB Fung, John Aaroe Group, (323) 687-1170; modernlivingla.com

CHARLOTTESVILLE, VA.

WHAT: A six-bedroom house with four and a half bathrooms

HOW MUCH: $1,535,000

SIZE: 5,254 square feet

PRICE PER SQUARE FOOT: $292.16

SETTING: This house is in a residential pocket about a mile and a half from both the University of Virginia and downtown Charlottesville, a brick pedestrian mall lined with historic buildings, oak trees, shops, galleries and outdoor cafes where someone, somewhere always seems to be playing an instrument. Just north of downtown — and about a 10-minute walk from this house — is a rolling, wooded city park with mountain views. Shenandoah National Park and the Blue Ridge Mountains are about an hour west; Washington is about two hours north.

INDOORS: The three-story house was built in 1935 and extensively renovated between 2008 ad 2010. Wall-to-wall carpet was pulled up and original hardwood floors were refinished; the interior also retains original molding, chair rails and built-in shelves. Both the formal living and dining rooms have wood-burning fireplaces with original mantels. Opposite the living room is a parlor, and across the hall from it is a library. A sunroom with green-glaze terra-cotta tile floors was added off the living room. Sliding glass doors open to a brick terrace.

The updated kitchen has granite countertops, a Bosch dishwasher and a six-burner Ilve range. The cabinets, original to the house, are made of white metal, which the owners had sandblasted and refinished at a body shop. Off the kitchen is a butler’s pantry and a breakfast room. There are bedroom suites on both the first and second floors, with three other bedrooms on the second floor. The sixth bedroom is in the finished basement, along with a workshop, an office and a garage.

OUTDOOR SPACE: A little over an acre, with a large side yard.

TAXES: $12,000 (in 2012)

CONTACT: Bob Headrick, Nest Realty, (434) 242-8501; nestrealty.com

PHOENIX

WHAT: A three-bedroom Tudor revival with three bathrooms

HOW MUCH: $1,550,000

SIZE: 4,459 square feet

PRICE PER SQUARE FOOT: $347.61

SETTING: This house is in a residential neighborhood known variously as North Central or Central Corridor, a 10-minute drive from downtown Phoenix. Developed in the early 20th century, the neighborhood features a mix of architectural styles, including French Provincials and Tudor revivals alongside sprawling ranches and large, newer houses, many of them on tree-shaded lots. An old bridle path now used by hikers, bikers and joggers runs alongside the road on which this house sits, shaded by ash and olive trees.

INDOORS: The house, a two-story Tudor revival made using adobe brick, was built in 1929 and is listed on the National Register of Historic Places. Aside from a couple of additions and updated appliances in the kitchen, the interior is original. Off the entryway is a great room with a pitched wood-paneled ceiling, a fireplace and leaded-glass French doors opening to gardens. Set into a small alcove on one wall is a painting of an English village and church — also original to the house. Adjoining the great room is a formal dining room and a breakfast nook, also with leaded-glass French doors opening to a back patio.

The kitchen, expanded in 2001, has stainless-steel appliances including a Viking range, marble and soapstone counters, and a wood-burning pizza oven. A former two-car garage was incorporated into the main house and converted to a family room with wood-paneled walls and a beehive fireplace. All bathrooms feature original tiles imported from England. The master suite, on the first floor, has a wood-paneled office. The other two bedrooms are upstairs, as is a sunroom. Also on the property is a barn, now used as a studio, a pool and a pool house.

OUTDOOR SPACE: The house is on an acre and a quarter of land.

TAXES: $3,893.30

Homebuilders across the U.S. are happy today, and for good reason.

According to newly released stats from HUD and the U.S. Census Bureau, sales of newly built, single-family homes rose 5.7 percent to a seasonally adjusted annual rate of 389,000 units in September. This is the fastest sales pace recorded since April of 2010.

"Combined with consistent, positive reports on housing starts, permits, prices and builder confidence in recent months, today's data provides further confirmation that a gradual but steady housing recovery is underway across much of the nation," said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. "Consumers who have been on the sidelines during the past few years are deciding now is the time to go forward with a new-home purchase, assuming they can qualify for a good mortgage under today's exceedingly stringent guidelines."

According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending October 19, mortgage applications decreased 12.0 percent from one week earlier.

The Market Composite Index, a measure of mortgage loan application volume, decreased 12.0 percent on a seasonally adjusted basis from one week earlier, but that week included an upward adjustment for the Columbus Day holiday.  On an unadjusted basis, the Index decreased 2 percent compared with the previous week.

The Refinance Index decreased 13 percent from the previous week to the lowest level since late August. The seasonally adjusted Purchase Index decreased 8 percent from one week earlier. The unadjusted Purchase Index increased 2 percent compared with the previous week and was 7 percent higher than the same week one year ago.

The refinance share of mortgage activity decreased to 81 percent of total applications from 82 percent the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 4 percent of total applications.

According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in September 2012 were at a seasonally adjusted annual rate of 389,000.

This is 5.7 percent (±14.8%) above the revised August rate of 368,000 and is 27.1 percent (±19.3%) above the September 2011 estimate of 306,000.

The median sales price of new houses sold in September 2012 was $242,400; the average sales price was $292,400.  The seasonally adjusted estimate of new houses for sale at the end of September was 145,000.  This represents a supply of 4.5 months at the current sales rate.

According to the Mortgage Bankers Association (MBA), there will be an estimated $1.3 trillion in mortgage originations during 2013, largely driven by a spillover of refinances into the first half of the year.

MBA also upwardly revised its estimate of originations for 2012 to $1.7 trillion. MBA expects to see purchase originations climb to $585 billion in 2013, up from a revised estimate of $503 billion for 2012.  In contrast, refinances are expected to fall to $785 billion in 2013, down from a revised estimate of $1.2 trillion in 2012.

"We expected 2012 originations to be front-loaded in the first half of the year, with refis falling off with rate increases.  Instead we saw the refinance market grow during the year due to a combination of low rates, thanks to QE3 and slowing global growth because of continuing problems in Europe, and adjustments in the HARP and FHA refinance programs," said Jay Brinkmann, MBA's Chief Economist.  "We expect 2013 refinance originations to play out like our original expectations for 2012, with a long tail of refis extending through the first half of the year followed by a rapid drop-off in the second half."

According to the California Association of Realtors (C.A.R.), a continued lack of housing inventory constrained California pending home sales in September, while the share of equity sales reached its highest level in four years.

C.A.R.'s Pending Home Sales Index (PHSI) fell 3 percent from a revised 119 in August to 115.4 in September, based on signed contracts.  Pending sales were up 0.8 percent from the 114.5 index recorded in September 2011.  Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.

(Miami, FL) - According to Miami Association of Realtors, Miami home prices rose again in September, marking 10 consecutive months of appreciation. 

The median sales price of Miami-Dade condominiums, which has increased each of the last 15 months, rose 36.2 percent to $150,000 compared to a year earlier.  The median sales price of single-family homes rose 8.6 percent to $190,000.

"The Miami real estate market continues to strengthen despite the shortage of housing inventory," said 2012 Chairman of the Board of the Miami Association of Realtors Martha Pomares.  "We've seen nearly an entire year of significant monthly price increases, which makes now a great time to sell a home.  Miami properties sell very quickly and draw multiple offers when priced right."

In September the average sales price for condominiums in Miami-Dade County increased 30.2 percent to $277,774.  The average sales price for single-family homes decreased 6.1 percent to $315,521.

According to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending September 21, 2012, mortgage applications increased 2.8 percent from one week earlier.

The Market Composite Index, a measure of mortgage loan application volume, increased 2.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 3 percent compared with the previous week.

The Refinance Index increased 3 percent from the previous week to the highest level in six weeks. The seasonally adjusted Purchase Index increased 1 percent from one week earlier.

The unadjusted Purchase Index decreased 0.3 percent compared with the previous week and was 5 percent higher than the same week one year ago.

According to recently released figures from HUD and the U.S. Census Bureau, the pace of new-home sales held virtually unchanged at a seasonally adjusted annual rate of 373,000 units in August over July numbers.

"New-home sales in August effectively tied the pace they set in the previous month, when they were the strongest we've seen in more than two years -- so this is really a continuation of the good news we've been getting on the housing front," said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. "Looking at the big picture, sales have been trending gradually upward since the middle of last year as favorable interest rates and prices have driven more consumers to get back in the market for a newly built home."