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The Future of Home Price Appreciation and What It Means for You

April 29, 2022 By Claire Garlick Leave a Comment

Source: KCM Blog

Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15 years ago.

However, experts say the market is totally different today. For example, Odeta Kushi, Deputy Chief Economist at First American, tweeted just last week on this issue:

. . . We do need price appreciation to slow today (it’s not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates & demographic demand. And we are in a much different & safer space: better credit quality, low DTI [Debt-To-Income] & tons of equity. Hence, a crash in prices is very unlikely.

Price appreciation will slow from the double-digit levels the market has seen over the last two years. However, experts believe home values will not depreciate (where a home would lose value).

To this point, Pulsenomics just released the latest Home Price Expectation Survey – a survey of a national panel of over 100 economists, real estate experts, and investment and market strategists. It forecasts home prices will continue appreciating over the next five years. Below are the expected year-over-year rates of home price appreciation based on the average of all 100+ projections:

  • 2022: 9%
  • 2023: 4.74%
  • 2024: 3.67%
  • 2025: 3.41%
  • 2026: 3.57%

Those responding to the survey believe home price appreciation will still be relatively high this year (though half of what it was last year), and then return to more normal levels over the next four years.

What Does This Mean for You as a Buyer?

With a limited supply of homes available for sale and both prices and mortgage rates increasing, it can be a challenging market to navigate as a buyer. But buying a home sooner rather than later does have its benefits. If you wait to buy, you’ll pay more in the future. However, if you buy now, you’ll actually be in the position to make future price increases work for you. Once you buy, those rising home prices will help you build your home’s value, and by extension, your own household wealth through home equity.

As an example, let’s assume you purchased a $360,000 home in January of this year (the median price according to the National Association of Realtors rounded up to the nearest $10K). If you factor in the forecast for appreciation from the Home Price Expectation Survey, you could accumulate over $96,000 in household wealth over the next five years (see graph below):

Source: KCM Blog

Bottom Line

If you’re trying to decide whether to buy now or wait, the key is knowing what’s expected to happen with home prices. Experts say prices will continue to climb in the years ahead, just at a slower pace. So, if you’re ready to buy, doing so now may be your best bet for your wallet. It’ll also give you the chance to use the future home price appreciation to build your own net worth through rising equity. If you want to get started, connect with Blessings Realty today.  [via phone 719-332-8360.]

 

Article source: https://www.keepingcurrentmatters.com/2022/04/07/the-future-of-home-price-appreciation-and-what-it-means-for-you/.

Filed Under: Buyers, Finance, First Time Home Buyers, Housing Market Update, Millennials, Move-Up Buyers, Rent vs. Buy Tagged With: Colorado Real Estate, First Time Home Buyers, For Buyers, Housing Market Update, Millennials, Move-Up Buyers, Rent vs. Buy

Do You Know How Much Equity You Have in Your Home [INFOGRAPHIC]?

April 22, 2022 By Claire Garlick Leave a Comment

Infographic Source: KCM Blog

 

Some Highlights

  • If you’re a homeowner, your net worth has gotten a big boost. That’s because recent home price appreciation has increased your equity.
  • Your equity grows as you pay down your loan and as your home increases in value.
  • Over the past year, the average homeowner’s equity grew by $55,300.

 

Ready to sell? Get in touch today to talk about how you can use that equity to fuel your next move!

 

Article source: https://www.keepingcurrentmatters.com/2022/04/08/do-you-know-how-much-equity-you-have-in-your-home-infographic/.

Filed Under: Infographic, Real Estate Tips, Rent vs. Buy, Sellers Tagged With: Colorado Real Estate, For Sellers, Housing Market Update, Infographics, owning a home, Real Estate Tips, Rent vs. Buy, selling a home

20 Fresh Spring Decorating Trends in 2022

April 15, 2022 By Claire Garlick Leave a Comment

Source: Real Homes / Desenio

Fling your home into the freshest season of them all with stylish spring decorating trends that are bursting with color, texture and all the positive vibes for 2022.

Fill your home with the freshest spring decorating trends to enjoy energizing interiors all season long. These looks welcome the outside-in, get tactile with natural textures, and experimental with color palettes so that whether you totally overhaul your space or make a few precise edits, you’re sure to add all the good vibes into your surroundings.

From upgrading a multifunctional space with curated color infusions to reviving pre-loved furniture in bold upholstery for a sustainable update, the latest home decor trends 2022 for the spring season are all about creating a home that’s as fabulous to look at, as it is functional.

SPRING HOME DECOR TRENDS TO RE-ENERGIZE EVERY SPACE

Christy Biberich, founder and designer of Christy B Home, comments: ‘Spring 2022 is all about color and pattern and lively interiors and decor. We are seeing a lot of bold, even clashing, color combos and pattern-on-pattern decorating trends. There is a movement away from minimalist, monochromatic design. People want to celebrate and bring joy into their homes. What better way than with fun colors and prints?’

With a defined approach to materials, color combinations, and elevating decorative details, there’s a lot to copy from the spring decorating trends our experts are calling out.

Tisha Domingo, interior expert and CMO of lighting company Brightech, says: ‘Spring home decor trends in 2022 are focused on mixing materials, high-tech decor, and curved furniture. Mixing materials speaks to the desire of wanting to have that unique piece no one else has, and it is done through mixing woods, metals, glass, etc. This can be seen as one piece, or this can be done by pairing multiple items in a room. High-tech decor is all about design evolving with technology. New technology creates a futuristic space. Curved pieces in both architecture and furniture are something our brains naturally love. This creates a signal of safety and a warm, welcoming atmosphere.’

Which of these 20 spring-fresh trend will be your favorite for a cheerful home revamp?

1. TEXTURE TALKS

Source: Rose & Grey

2022 interiors are continuing to go big on texture, with an abundance of natural materials adding layers of organic tactility to multifunctional living spaces. Even walls and furniture are getting touchy-feely, with 3D wall paneling ideas for an added dimension.

Jen and Mar, founders, Interior Fox, say: ‘2021 paved the way for softer and more naturalistic interior trends, with an abundance of rattan and cane furniture, ceramics and linen elements dotted across the home. All sitting against a backdrop of texture wall techniques such as lime wash or micro-cement. We see this trend continuing into 2022 for a look that adds a sense of stripped-back ease whilst making a strong yet understated design trend.’

Julian Page, head of design at BHS lighting, says: ‘Bringing the outside in continues to be one of the biggest homewares trends of 2022, and with materials such as rattan and bamboo, you’re able to bring these natural materials and textures into the home.’

2. BIOPHILIA – BRINGING THE OUTDOORS IN

Source: Crown

Interiors are focusing on creating a space that connects us to nature. Clean lines, layered textures and muted, dusky colors are combined to blend the boundaries between indoor outdoor living spaces, creating a holistic place to soothe the mind and invite quiet contemplation and relaxed conversation.

Subtle tones of chalky aqua and soft grays embrace an airy openness, while natural textures enhance the botanical greenery of indoor gardens and living walls. A deeper green grounds the palette adding depth and definition. The result is a calming space to appreciate nature and boost our wellbeing with interior hacks to improve mental health.

Kathryn Lloyd, color consultant, Crown, says: ‘An appreciation of the natural world, Liminal showcases modern minimalism, with beautifully crafted furnishings and a quiet palette of neutral tonal color. Homeowners are now wisely considering exactly what they place in a room, so much so that a space becomes carefully curated. The result is a retreat consisting of dry, chalky, comforting textures and single use, easy on the eye, color.’

Jane Rockett, Co-founder of Rockett St George, says: ‘Renowned for its natural connection and ability to create enduring calm, our key trend for 2022 and beyond, calls in the power of healing greens. Evoking memories of deep forests,  moss covered trees and new leaves; green is the color of the great outdoors and when introduced to the home reveals a feeling of energy, new life and opportunity. As one of the most versatile colours to decorate with and weave throughout your interior, our love affair with green continues to grow as we look for new and exciting ways to bring nature indoors. From sumptuous sofas to glassware, ceramics and cozy accessories, green is fast becoming  the new black.’

Feeling the green serene? Try a versatile green living room idea for a grass is greener scheme refresh.

3. STATEMENT CHECKS AND STRIPES

Source: Kaiyo

Wander ‘off-grid’ to a playful aesthetic, and introduce pattern into your home with graphic checkerboard patterns and stripes in colorful contrasts, across painted floor ideas, walls and everything in between!

Forget the safe plain-plaid, this season checks and stripes are bigger, brighter and bolder than ever before. Cheerfully hot-trotted from the catwalk into happy homes, this rustic-ruffled pattern comes freshly delivered with a breezy, mischievous attitude – giving upholstery and everyday homeware a cheerful dollop of whimsical wholesomeness. Generational in appeal, and charming the socks off city and country dwellers alike, chirpy-checks tick all the new-nostalgia ‘boxes’.

Jon Flannigan, product manager at Kersaint Cobb, says: ‘Stripes! ‘Stripes are a key trend in interiors with many working with a variety of materials to create inviting room schemes. Light colors and stripes are particularly effective in narrow hallways. Soft, pale-colored flooring brightens up a small area, creating the illusion of space and giving a light, airy look. Stripes add visual interest to the floor and for those tight on space, it is worth remembering that linear stripes can help to enlarge the appearance of a room, this is especially effective in hallways as the stripe draws the eye along the design and thus appears to elongate the area. Striped flooring is also ideal in high traffic areas as it will withstand the effects of dirt and wear better than plain and flat single color flooring.’

Anna Cross, Buying Manager, Habitat, says: ‘Filtering across from the fashion sphere, gingham is the print of the moment. What started as a must-have for picnic blankets and tablecloths, is now popular across tableware and home accessories. We’ve included new designs on both grand and small scales: try as a statement bedlinen if you’re feeling bold or opt for a simple printed ceramic vase for a more subtle approach.’

CONTINUE READING 20 SPRING DECORATING TRENDS FOR 2022 HERE.

 

 

Article source: https://www.realhomes.com/us/news/spring-decorating-trends.

Filed Under: Home Decorating, Interior Design, Just For Fun Tagged With: Colorado Real Estate, Home Decorating, Home Improvement, Interior Design, Just For Fun

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Welcome and thank you for visiting our Blessings Realty website! We are Monument-based real estate experts providing information about the Monument and Northern Colorado Springs, CO real estate market.

While you’re here, please check out 80132 homes for sale in Monument, CO, as well as other real estate listings around the area.  View listings, photos, market data, and use our detailed real estate filters to find the perfect place.

Please contact us today at (719) 425-8929 to buy or sell real estate in Colorado Springs and Monument, Colorado – or for help with your property management and probate real estate needs – we would love to speak with you!

Sincerely,

Claire and Jeff Garlick of Blessings Realty

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