Hispanics recovered quickly from the housing downturn, according to a new report on the state of Latino home ownership in the United States.

But the study also found that the demographic hit a wall last year, blindsided by investors who gobbled up houses for cash -- easily outbidding buyers who required financing -- and by more stringent lending rules.

Absent those two barriers, the growth of Hispanic ownership "would likely have been much stronger" in 2013, concludes the annual report from the National Association of Hispanic Real Estate Professionals (NAHREP).

Between 2000 and 2013, the Latino population accounted for nearly half of the increase in homeowners, with Latinos achieving an ownership rate of 46.1 percent, according to the study. Since 2010, though, Hispanics accounted for an even larger 56 percent of the country's total net ownership growth, making it a "crucial driver" of demand during the housing recovery.

Latinos also experienced a strong rebound in the value of their homes, the study found, rising 25.3 percent from the bottom of the housing recession in 2011.

But the gains came to a screeching halt last year.

The Hispanic ownership rate recorded only a "modest net increase" of 84,000 households, far less than the increases recorded in the previous two years -- 127,000 in 2011 and 348,000 in 2012.

The main reason: "far and away" a lack of inventory suitable for first-time Latino buyers, according to NAHREP co-founder and CEO Gary Acosta.

In a nationwide survey of NAHREP members, nearly half -- 42 percent -- said inventory shortages due to competition from cash investors was the "primary barrier" to Hispanic ownership last year.

More than 78 percent said they had at least one qualified client who had been actively searching for a house for more than three months without success. And 40 percent said they had more than five who have been unable to find a place they liked or who have seen their offers rejected because they involved financing.

NAHREP's members, 75 percent of whom are realty agents and 25 percent of whom are in the mortgage business, report that the first-time buyer clients are "losing out" to investors who can pay cash.

Prior to the housing crisis, the report notes, investors were a negligible part of the housing market.

In 2011, both mom-and-pop companies and big outfits with pockets full of money accounted for just a 5-percent share of all single-family home transactions. But last year, according to real estate data firm RealtyTrac, more than 40 percent of all sales were made to cash buyers.

"This astounding trend of cash sales and increasing percentage of sales to institutional investors ultimately results in a reduction of up to 50 percent of the available housing inventory to owner-occupant buyers," the report says.

The trend is particularly acute in markets with a heavy Latino population.

In Miami, for example, two-thirds of the homes sold last year were for cash. And in Atlanta, the fastest growing major city for Hispanics, 48 percent of the sales in last year's fourth quarter were to institutional investors.

In more expensive markets like Los Angeles and Chicago, sales to investors did not exceed the national average. But they were higher than the historical norms.

Worse, perhaps, is that the "land grab" of inexpensive, first-time buyer houses artificially drives up prices to the point where Hispanic and other owner-occupants are driven out of the market, the report says.

"The net effect of this trend is that it destines many Latino families to be renters by systematically edging them out of the prospect of home ownership," the report says. "Communities that were once dominated by owner-occupants have become rental communities."

NAHREP also faults tighter credit standards for the fall-off in first-time Hispanic buyers. New lending regulations and higher down-payment requirement have simply made it more difficult for any rookie buyer, Latino or not, the group says.

But it says "misguided government programs" that favor investors "have had unintended consequences that have contributed to the severe lack of housing inventory in dozens of Hispanic neighborhoods, leaving thousands of qualified buyers on the sidelines while inviting an unprecedented wave of institutional investors into the market."

Every year after the judges for the annual Best in American Living Awards (BALA) complete their work, they outline what they see as the latest trends in residential design.

BALA recognizes the best that builders have to offer -- in all types of houses, from single-family to mixed use, multifamily to remodels -- and in all price points, from the most expensive custom homes to far more reasonable condominiums and apartments, in all parts of the country.

It's a tough contest to win. But the builders, architects and previous winners who make up the jury of their peers have a reasonably easy time reaching a consensus. After all, the best work always rises to the top.

Competitions like this are important because production builders are mostly followers who tend to imitate the industry's few true leaders. So today's standout design trends are often incorporated into the mainstream. Not immediately perhaps, but certainly by the time old models are tossed aside and new ones are introduced.

"The BALA winners always redefine excellence in the homebuilding business," said Victor Mirontschuk, the New York architect who chaired the latest contest.

In that regard, housing is a lot like high fashion, in that what the judges liked this fall is likely to be what homebuyers see next spring.

So, without further ado, here are the latest trends -- some new and others timeless.

-- Kitchen features. This room tops buyers' priority lists, year-in and year-out. Last year, mega-islands were popular, offering areas not just to prep a meal but also to socialize at a bar-top setting. This year, as in previous years, Carrara marble countertops, cooking hearths and intricate light fixtures were prevalent.

White on white also is big. "We're back to white everything," said one judge. Flooring, backsplashes, counters and appliances are lightening up, and layering white on white is a new approach. So are shiny-surfaced appliances, backsplashes, countertops and glass walls.

-- Specialty lighting. Lighting offers a great opportunity to add texture and color to any room. Natural lighting is paramount, but on top of that, specialty fixtures help set the mood. They can also add drama, highlighting design aspects such as a tray ceiling, and are often works of art in their own right.

Lighting is also being paired with wood ceiling details to further enhance the room's design and create a feeling of warmth.

"It used be an afterthought," said one judge. "But people need more lighting, a lot more of it. And it is being used more creatively."

-- Bathrooms. Baths this year are becoming more compact while maintaining an open feel. To do so, the best designs are eliminating walls, adding transparent glass enclosures and reducing the amount of unused floor space between fixtures.

At the same time, dual master baths seem to be the rage, even in smaller spaces. They are glamorous yet entirely functional, clean and simple. Often, they have a shared shower.

-- Bold exteriors. Bold colors can now be found outside, further enhancing curb appeal. Other features, such as a mix of cladding materials, doors, windows, porches, shutters or trim, add an extra layer of drama.

Color, finish, fixtures and lighting are also being used to give houses a more modern flair while still maintaining their historic integrity.

-- High-quality detailing. Regardless of a home's size, owners expect detail that speaks to the home's architecture. But these elements must be of appropriate scale and in relative proportion to the overall design. Otherwise, they detract rather than add.

-- Ceilings. With material and design choices, ceiling treatments can change a room's feel. Color, for example, can add warmth or excitement, while tray ceilings, barrel vaults and coffers add depth and texture.

When there are fewer walls, ceiling treatments are a good way to define living spaces.

-- Outside in. In a trend no longer limited to warmer climates, lines between the interior and exterior are even more blurred. Movable glass walls, gourmet outdoor kitchens and interior courtyards all add more everyday living space.

-- Courtyards. Here, the proper scale is key. But for single-family houses, they provide privacy and, when shifted to side yards, add to living space. In multifamily properties, interior courtyards are used to showcase such amenities as pools and firepits.

-- Multitasking. Not so much this year, but in previous contests, flexible floor space with multiple master suites -- one on the first floor, or as an apartment or cottage on the property -- were popular. Universal design elements that make life easier for live-in grandparents, or for the owners as they age, were also popular.

"We saw those everywhere," said one judge.

As in previous events, specialty rooms were part of many winning entries. Even in the most modest houses, there was some sort of outdoor fire feature so the patio could be used year-round in most places.

Research continues to show that while homebuyers prefer environmentally friendly houses, they don't want to pay extra for the features that turn the typical home into an efficient one.

One option, the so-called energy efficient mortgage, has failed miserably at allowing buyers to finance the cost of energy-related improvements. Although the loans have been on the books for decades, few lenders offer them because they are just too cumbersome to originate.

Thus, buyers of today's high-performance houses have had to either come up with thousands of dollars in cash to pay for the energy extras they crave -- geothermal heat pumps, perhaps, or triple low-emissive windows -- or pass on them.

In short, they've been punished rather than rewarded for wanting to go green.

But now a Salt Lake City-based lender believes it has finally cracked the code when it comes to lending on energy-efficient houses.

The SecurityNational Mortgage Company, which has 77 branches across the country, has come up with a method for recognizing the value of energy improvements such as solar panels and rainwater runoff collection systems. It is positioning itself as the nation's premiere green lender.

In partnership with Green Energy Money (GEM) of Austin, Texas, SecurityNational is set to launch a massive high-performance pilot program with a goal of funding 10,000 energy-efficient homes by the end of next year. The partners are currently seeking builders in California, Illinois, Arizona, Colorado and Maryland to participate in the effort.

The lender has funded some $20 million in sustainable construction since the last part of 2013, and has $200 million more in the pipeline, says Teresa Lopez, a 25-year mortgage business veteran who spearheads SecurityNational's green lending program.

"We're not interested in doing one deal here and there," says Lopez. "We want to prove the marketability of our process and get all the systems and standards in place so we can go national. Our belief is that there is a lot of pent-up demand."

Lopez says she has spent the last 15 years trying to figure out how buyers can show how the present and future value of what they will save every month in energy costs justifies the higher price they have to pay at closing.

Over that time, Lopez has made herself into a recognized authority in the often gray area of green financing. She has developed new financial mechanisms, loan products and valuation methods designed to meet the growing need for financing sustainable upgrades.

The "key to the kingdom," as she calls it, is in the appraised value. Even today, when more and more builders are able to produce houses that cost little or nothing to operate -- and sometimes generate excess energy that can be sold back to the utility -- appraisers have been slow to identify the value that energy improvements add to a property's overall worth, now and in the future.

Appraisals have always been "the biggest roadblock," say Lopez and others in the green building movement. But GEM, a company Lopez built as part of her quest to find the Holy Grail of green financing, facilitates the process with an appraisal that recognizes and quantifies the value of features such as solar heating and water, geothermal heat, rainwater harvesting, energy-efficient building materials and electric vehicle stations.

According to Lopez, GEM's proprietary green appraisal rating system standardizes the connection between the popular Home Energy Rating System (known as the HERS index) and 18 energy-rating systems and building codes. The result captures the monetized value that lenders require to back high-performance construction -- or even remodels.

In layman's terms, Lopez says that "GEM has developed a method for green appraisals that support the valuation process. Our process facilitates a green appraisal that maximizes the value of your investment. It makes it possible for appraisers to fully recognize the lower maintenance costs and reduced operating expenses of an energy-efficient home."

Under the GEM system, builders will be able to submit measures and costs for green upgrades, absorb the capital outlays necessary to purchase and install the upgrades and then get their money back in higher prices that can be justified by a green appraisal.

For their part, appraisers will receive consistent, certified building audits that include the relationship of the upgrades to utility reduction, as well as building performance data and predicted energy costs. And homebuyers will find a more streamlined loan process.

"We hope our methodology will be quickly adopted and standardized nationally," says Lopez. "Many appraisers just don't know how to quantify or analyze high-performance building."

Only time will tell whether GEM will achieve critical mass. The goal of 10,000 houses seems to be a long shot. But the company is busy training appraisers and developing an accredited continuing education curriculum for the profession.

Until change works its way through the system, here's what you can do now to get an appraiser to recognize the value of your energy improvements:

-- Data. Give the appraiser the supporting information he needs -- cost and estimated energy savings -- to justify a higher appraisal. List the energy improvements by make and model number, and if possible, provide a before-and-after scenario of projected savings for a 12-month period.

-- Rating. Obtain a HERS rating for your home. There are other acceptable ratings systems -- LEED, for example -- but HERS is the nationally recognized method for inspecting and calculating a home's energy performance.

-- Credentials. Be sure the appraiser has the skills and experience to judge green construction. If the appraiser is not green-educated, says Lopez, you have the right to ask for another.

-- Builder. Pick a builder who is trained and certified in high-performance building.