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What Are Experts Saying About the Rest of 2020?

July 6, 2020 By Claire Garlick Leave a Comment

One of the biggest questions on everyone’s minds these days is: What’s going to happen to the housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 – and the outlook is extremely encouraging. Here’s a look at what some experts have to say about key areas that will power the industry and the economy forward this year.

Mortgage Purchase Originations: Joel Kan, Associate Vice President of Economic and Industry Forecasting, Mortgage Bankers Association

The recovery in housing is happening faster than expected. We anticipated a drop off in Q3. But, we don’t think that’s the case anymore. We revised our Q3 numbers higher. Before, we predicted a 2 percent decline in purchase originations in 2020, now we think there will be 2 percent growth this year.

Home Sales: Lawrence Yun, Chief Economist, National Association of Realtors

Sales completed in May reflect contract signings in March and April – during the strictest times of the pandemic lock down and hence the cyclical low point…Home sales will surely rise in the upcoming months with the economy reopening, and could even surpass one-year-ago figures in the second half of the year.

Inventory: George Ratiu, Senior Economist, realtor.com

We can project that the next few months will see a slow-yet-steady improvement in new inventory…we projected a stepped improvement for the May through August months, followed by a return to historical trend for the September through December time frame.

Mortgage Rates: Freddie Mac

Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.

New Construction: Doug Duncan, Chief Economist, Fannie Mae

The weaker-than-expected single-family starts number may be a matter of timing, as single-family permits jumped by a stronger 11.9 percent. In addition, the number of authorized single-family units not yet started rose 5.4 percent to the second-highest level since 2008. This suggests that a significant acceleration in new construction will likely occur.

Bottom Line

The experts are optimistic about the second half of the year. If you paused your 2020 real estate plans this spring, reach out to a local real estate professional today to determine how you can re-engage in the process.

Article originally published at https://www.keepingcurrentmatters.com/2020/06/29/what-are-experts-saying-about-the-rest-of-2020/.

The Most Instagrammed Interior Design Styles by State

June 22, 2020 By Claire Garlick Leave a Comment

House pride has a new platform in the 21st century: Instagram! #Interiordesign is big (87 million posts and counting), and no redecorating project is complete without a before-and-after shot on the number one photo-sharing platform.

And it’s not just about showing off your new kitchen. Instagram has also become the go-to place for home design inspiration. But with so many pictures to browse, it helps to have a map to find your way to the most relevant ideas – so that’s just what we’ve done!

Instagram’s photographers like to tag their interiors with the design style that they’ve chosen for their project, be it #bohodecor, #midcenturymodern, or #cottagestyle. We decided to find out which styles are most popular across different regions.

Our researchers extracted location data for Instagram posts tagged with hashtags relating to popular interior design styles. We then cleaned up the data and organized it by state, to create two maps: one that shows the most popular design style tag in each state, and one that shows which states share their #instahomes the most.

The most popular interior design style in every state

State-by-state, the most popular design style in the US is #coastalliving. Eighteen states use this hashtag more than any other to describe the interior of their home. It’s no surprise that these are all sea-facing states. However, the east coast favors the style more than the west.

Instead, the west coast states of Washington and California prefer #midcenturymodern. In fact, this is the second most popular style in the States. The ‘new retro’ look of mid-century modern feels both classic and contemporary, allowing amateur interior designers to cherry pick their favorite details from a century of interior design.

The states sharing more photos of their #instahome map

For a state populated by outdoors-types, California sure is house-proud. We counted 10,082 uses of our chosen hashtags by Californian Instagram users, way out ahead of Florida with 4,606. It might be because California is home to San Francisco, the design capital of the US, and LA, which is home to the third highest concentration of professional designers in the country.

At the other end of the scale, Dakotans either don’t care for interior design or they don’t care for Instagram. North and South Dakota have the fewest design hashtags, with just 38 and 42 respectively. Check out the color-coded map below to see how ‘hot or not’ your home state believes its décor to be!

(SEE DESIGN SLIDESHOW AT https://www.angieslist.com/articles/most-instagrammed-interior-design-styles-state.htm)

The #coastalliving style

You don’t have to live by the coast to embrace the coastal living style. After all, everyone loves to bask in the sand or up on deck. But it’s best to avoid anchor motifs and ornamental life-preservers if you can’t actually reach the sea without crossing the state line.

Instead, think about the colors and textures you associate with being at the coast. The Instagram images that really sparkle match frothy whites and steely grays with a broad spectrum of blues and greens. Unpainted or weathered wood immediately adds a nautical look (think decking and driftwood).

Most important is to listen to your own imagination. What are the sensations you connect with being at the beach or sailing? You might dream up a coffee table upcycled from an old fishing basket. Or plump for lots of blankets and throws to cuddle up under when in the cool of the evening.

The #midcenturymodern style

Mid-century modern refers to a sophisticated look that developed between the 1930s and 1960s. Bauhaus design principles had made their way to the mainstream and were now more hip than avant-garde. Today, a mid-century modern interior tells your followers that you appreciate classic design (rather than traditional) and have a sharp sense of style (but never, ever without substance). If in doubt, think Mad Men.

Historically, the mid-century modern style has utilized materials such as plastic, acrylic, and formica – but the best of today’s designers work with sustainable materials. Furniture in this style is stream-lined, often with surprising shapes that are underpinned by practical ideas. Surfaces have a matte finish. Designers may use striking primary colors or moody ‘in-between’ shades like teal, burnt sage, and rust.

Of course, the most sustainable furniture pieces you can buy are vintage. And part of the fun of designing a mid-century modern interior is curating unusual details that fit together in a way that no other Instahome quite manages. A sideboard with hairpin legs topped with an atomic-themed lamp; plastic shell chairs with a trestle-style table. Think about designing your room around one signature piece, and avoid clashing patterns and colors.

The #rusticdecor style

The rustic décor style is most popular in the mountain states and parts of the north east. The look harks back to simpler times, but there is inspiration all around us today – from the farmhouse to the hilltop cabin and the land outside.

Rustic décor takes its cue from the ruggedness of nature. A rustic-themed room is characterized by unrefined textures and earthy colors: browns, greens, and sandy yellows. Furniture is simple and sturdy. Reveal the structural detail of your interior to add that ‘just got home from the frontier’ feel: ceiling beams, exposed brick, and stripped floorboards set the tone.

The beautiful thing about rustic décor is that the charm is in the imperfections. Try upcycling old tiles as plant stands or coasters, and mend torn fabrics with brightly colored thread instead of reupholstering. If you can build your own furniture, now’s the chance for your carpentry skills to shine!

If you’re looking for a new interior design style for your home, Instagram is one of the best sources of inspiration out there. And once your renovation is complete, you can share proud pictures of your Instahome right back on the platform to inspire others!

Article and style inspiration slideshow originally published at https://www.angieslist.com/articles/most-instagrammed-interior-design-styles-state.htm.

The Five Golden Rules of Home Preparation on a Budget

June 16, 2020 By Claire Garlick Leave a Comment

When you show your home’s best features by staging and preparing it effectively, you help increase your final selling price without breaking the bank. In fact, on average, sellers receive $2 in increased sale price for every $1 they put into staging a home.

As the infographic below shows, the following five golden rules of home staging will help you show off its best assets – I also recommend hiring professionals for the cabinet and floor refinishing.

And, don’t forget curb appeal:

Freshen up landscaping, especially in the front, new flowers and mulch go a long way
Wash your front door
Remove cobwebs and any wasp/bird nests around the house
Consider power washing your siding and decks
Replace rotting boards and sand and re-stain your deck if needed

Click on the image to enlarge:

Article originally published at http://blog.rismedia.com/2015/golden-rules-home-staging/