Re/Max Gold Blog

By Gina Fourell

Your weekly discussion on trends in real estate by Gina Fourell. Stay updated with us!


POSTS:

The Cost of Waiting

What postponing a home purchase could mean for you

The Cost Of Waiting - 5.16.22

Will waiting a year improve the market conditions for home purchases? Renters aspiring to be homeowners and those who own a house that no longer suits their lifestyle may be facing these decisions. To decide if waiting will benefit you, consider home prices and mortgage rates.  

Home values are projected to appreciate by 5% or more this year.  A home that would sell today for $260,000 would sell for $273,000 next year.  The delay to purchase would cost you an additional $13,000 for the same house.  

Experts predict mortgage rates will rise while the economy recovers.   An increase in the mortgage rate will increase your mortgage payment each month.  Waiting means paying more for the house plus the additional interest will make a difference monthly and over the loan term.

Purchasing now allows you to start gaining equity.  The financial benefits show that buying now is more beneficial that waiting a year.  

Home Bidding Wars

How you can win

Low inventory and buyers hoping to purchase before mortgage rates increase are leading to bidding wars.  Multiple offers are submitted on most home sales.  Buyers are often bidding on several homes before having their offer accepted.  With the help of a real estate professional, you can consider these concepts to win over your competition.  

Submitting an offer above the list price is often the first way to stand out in a competitive market. Many homes sell for over the asking price because there are more buyers searching than homes available.

A realtor can help you make a realistic offer that will get accepted.

Increasing the earnest money deposit shows you have serious interest in buying their house.  This deposit will ultimately be credited toward your purchase during the closing.  The higher deposit shows you have the funds and are ready to purchase, which can catch the eye of the seller.  

Raising the amount of your down payment is another option.  With a higher down payment, the amount you finance will decrease.  A lower financed amount means a lower monthly output from you, and it also helps the seller feel like the deal is less risky.
The boosted down payment could be how you stand out from the crowd.    

Lean on your realtor for insight into what sellers look for in the market where you are shopping. You need a professional who can guide you and be a resource in this hot housing market.

Kitchen Trends

#trending2022

Kitchen Trends 2022 - 5.2.2022

Home design is always evolving, and new trends include exciting options.  Kitchens remain some of the hardest-working spaces in our homes.  When choosing for the kitchen it’s important to choose items that will last.  

Black kitchens are rising in popularity.  Black is bold, sophisticated, and impactful.  The dramatic flair of black in the kitchen of an open concept floorplan helps to define the space.  From Cabinets to countertops and backsplashes black is adding depth to the look of many kitchens this year.  

Kitchen jewelry is adding personality to drawers and cabinets.  Brass is the top material choice for knobs and handles to add style and bring a design to life.  Much like in fashion, the right piece can enhance a look by adding moodiness.  

Roundness has been a trend in furniture and décor and softer shapes are at home in the kitchen. The kitchen is considered the heart of the home, and arches can transform a kitchen into a space that feels calm.  Curved shapes draw inspiration from nature adding a warm feel that welcomes socialization.   

Popular Exterior Design Elements

Trending Curb Appeal

Popular Exterior Design Elements - 4.25.22

 

If you’re building a home soon, you may be contemplating the exterior design.  Are you drawn to classic white and timeless?  Do you find yourself curious about what trend is next on the horizon?  

Black and white exteriors are here to stay.  Warmer and softer white tones are replacing the bright white siding.  Rich, dark colors are also quite popular.  Timeless palettes are still trending, with many selecting soft neutrals.  Can’t decide?    Many choose a deep color for one section of the home’s exterior.  Color-blocking allows you to have the best of both worlds.  

The texture is one way to add depth to your curb appeal.  Wood trim, stone accents, dark gutters, and metal roofs are common choices to increase the texture of your home exterior.  These textured elements can be costly, but some options add intensity to the visual appeal of your home without breaking the budget.  

It is important to remember that YOUR home should be chosen to reflect what YOU love regardless of popular trends.   

Multi-Functional Space

Creating A Space That Can Serve Many Purposes

Multi-Functional Space - 4.18.22

Families at home during the pandemic increased the need for our homes to do much more.  Suddenly dining and living rooms became offices and classrooms.  With optimal planning, an open space can feel roomier.  Find ways to allow natural light to flow in is essential to boost the form and function of the room.  

Creating distinct zones is necessary for the design to work in unison. Evaluate furniture and place pieces to differentiate the purpose of one zone from another.   Rugs can be focal points for zones to distinguish if the space is for work or play.  Using art, rugs, lighting, or throw pillows as focal points can help anchor each area for its designed purpose.  

Open floorplans help families to feel connected with more views of the outdoors.  Furniture and cabinet options designed with hidden functions help to enhance the space.  Dining tables now offer hidden storage and power ports.  Bookcases and desks convert into sleeping spaces with murphy beds. These functions remain out of sight until needed and help make the most of the square footage.  

Ins & Outs Of Interior Design

A Look At What's Trending For 2022

Ins & Out Of Interior Design For 2022 - 4.4.22

Our homes directly influence our health and even our mood.  The top trends set their targets on making us feel peaceful.  The pandemic forced us to slow our pace and spend more time at home.  We now realize that design has the ability create energy that reflects what we are feeling.  

People are choosing elements that feel cozy and welcoming.  Nature-inspired surfaces are on the rise.  Marbles, mushroom shapes, curvy furniture, and leather are rising in popularity.  Who wouldn’t want to come home to a room that feels like a hug?  

As time spent in our homes increases, every object needs to contribute to the purpose.  Many interior spaces are now taking on double duty.   Guest bedrooms are also home offices or have exercise equipment.  

The dining room table is now the conference room table.  People want a space that will work hard for them.  

Some design trends that were once popular are on the decline.  All white minimalism is losing speed in favor of warming up spaces to feel less sterile.  Boxy sofas with square arms are making way for curvy leather sofas in rich color tones.

Dull and muted color schemes are fading in favor of vibrant colors and patterned fabrics.  Wallpaper is back in a big way, using brave textured materials that engulf you.  Bold patterns and the return of florals are setting the tone for 2022.  

The years of dim, subtle tones have given way to vivid, cheerful colors that put a smile on your face.  

A Shift From Open Concept

The Pros Of Space Division

A Shift From Open Concept - 3.29.22

Rumor has it that open floor plans are on the way out. This trend has been prominent for a decade, and many will still request this concept, as those reasons include boosting natural light, views and amplifying the sense of space in places of lessor square footage. Homes with an open floor plan have many positives, but there are several reasons why this trend may becoming less desireable. The down-sides of rooms without division could be the reason the trend is losing popularity.  

Noise is difficult to contain in a space without walls.  The banging of pots and pans while preparing meals could make it problematic to hear the tv or hold a conversation in the living room.  The higher the ceilings, the more difficult it is to alleviate noise.  

Togetherness is delightful, but sometimes the adults cherish their alone time.  A busy parent might enjoy cooking dinner in the kitchen without the sounds of Paw Patrol blaring from the living room television.  It may sound lonely to be isolated, but it can also be hard to prepare a fancy meal while your guests are the audience, or when the kids want to join in the action.  

Privacy and focus can be a challenge without defined rooms.  Remember the rise in “man caves” and “she sheds”?  It can be strenuous to work from home or have a private conversation without walls to keep us apart.  

What about the mess? Do you want the sink full of dishes to be visible from every angle in your first floor living area?  For those who can’t relax until the place is clean a small mess is a big reminder because you can see it all. Keeping one continuous space clean and tidy can be hard.  

Strategies are available to reclaim the best of open concept living.  Upholstered furniture, lined draperies, and large rugs can absorb sound.  Installing a sink or dishwasher in a butler’s pantry can contain messes and noise.  Sliding pocket doors can provide isolation when desired.  A peninsula rather than an island can help to define spaces.  

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