AUGUST 25, 2023 Virtual Color Consultation PAINT DESIGN BOARD Entryway Color Schemes to Make You Feel Happy HOMEOWNER TIPS An update of the real estate market WHAT IS GOING ON IN THE MARKET A R E A L E S T A T E N E W S L E T T E R Moving Made Simple HOMEKEEPR Futuristic Home Features Buyers Want DESIGNTRENDS NHA Get Mortgage Ready E-CREDIT ADVISOR
In today’s housing market, there are two main affordability challenges impacting buyers: mortgage rates that are higher than they’ve been the past couple of years, and rising home prices caused by low inventory. To overcome those challenges, many people are working with their agents to find less expensive homes And with newly built homes making up a historically large percentage of the total available inventory today, that search often includes brand new homes.
PeopleAreSpendingLessonNewlyBuiltHomes
The graph below uses the latest information from the Census to show, in June, more of the newly built home sales in this country were in lower price ranges than in 2022:
Newly Built Home Sales by Price Segment
Percent Distribution
Builders producing smaller, less expensive newly built homes give you more affordable options at a time when that’s really needed.
This means more people are buying less expensive newly built homes right now while affordability remains a challenge
BuildersAreOfferingLower-CostOptions
Builders have picked up on this trend and are reacting accordingly. George Ratiu, Chief Economist at Keeping Current Matters, explains:
“Builders are also responding to this shift by bringing slightly smaller homes to market in an effort to meet lower price points . . . ”
New data from the Census further confirms this pattern – it shows the median sales price of newly built homes has dipped down in recent months
And as Mikaela Arroyo, Director of the New Home Trends Institute at John Burns Real Estate Consulting, says, the builders who are most responsive to this trend are forming pathways to homeownership:
SOURCE: CENSUS
Last year, only 58% of newly built home sales were less than $500,000. This June, that number was up to 65%.
“ it is creating opportunities for people to be able to afford an entry-level home in an area if you get that size down, that automatically will make it a more affordable home. The [builders] that are decreasing [size] the most are probably the ones that try to build more of an affordable product.”
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Top Futuristic Home Features Buyers Want
From home automation to sustainability, homebuyers are interested in these new home-tech trends
We’re in an era where cutting-edge intelligent home features and functions are demanded by many luxury property buyers. It is important to note those that have the potential to add perennial value to a home, as opposed to novelties that could be obsolete with the next software update.
Climate Control for Maximum Comfort
Smart thermostats are embedded into the infrastructure of the home, meaning that they are relatively easy for homeowners to navigate. Some of today’s most impressive models can integrate with HVAC, humidifier, and filtration systems. By monitoring outdoor environmental conditions and indoor air quality — and leveraging machine learning they automatically optimize temperature and humidity inside the home. Machine learning capabilities can also enable smart thermostats to know when residents will be at home and when they’ll be away, and adjust conditions accordingly. This is a nice perk for homeowners and can also reduce energy bills and overall ecological impact.
Remote maintenance and monitoring
Beyond simply turning on lights or speakers with a simple button or command, today’s smart sensors can notify residents when there’s an anomaly, such as a power surge o a leaky pipe, and provide a vital prompt to contac relevant repair services. Advanced systems can help keep landscapes and gardens looking their best when homeowners are away. Intelligent irrigation allows resident to start their smart sprinklers anytime, anywhere, when sensors gauge that watering is necessary.
Self-sufficiency and sustainability
Architects and builders are paying increased attent eco-friendly features and technologies such as solar p and rainwater systems. For example, backup b storage is more practical and accessible than ever b allowing homes to go green and off-grid in way were once too expensive or too niche, even for homeowners.
Another compelling possibility emerging on the hori the concept of “water independence,” where wastew gray water, and rainwater can be purified and recyc cover all a property’s water-related needs.
5 Entryway Color Schemes that will make You Feel Happier at Home
Rooms such as entrances and hallways are often left behind when it comes to planning impactful designs However, they can be the perfect place to experiment with bold colors and patterns that make you feel happy
Color is a remarkable decorating medium and is an easy way to make your entryway more inviting. Here, we ' ve chosen, along with the experts, our five favorite color schemes.
It works beautifully with warm neutrals, natural timbers and accents of black and brown
‘I chose an earthy red color for the hallway to create an immediate sense of warmth in this family home,' says Fabrice Juan, an interior designer. 'As the entrance links the reception rooms, I chose a color that subtly harmonizes the tones in these spaces while creating a contrast with the black woodwork.’
Mimic Nature with a Sage Green Color Scheme Add Cheerful Optimism with Yellow
Symbolizing nature, freshness and vitality, the color green is an enduring favorite when it comes to interiors.
The color also acts as an effective bridge between the outdoors and inside when used in threshold spaces When seen in enclosed rooms on wallpapers or furnishings, the color brings relief and reassurance and elegantly reminds us of the living world beyond our four walls, but its benefits don't end there
‘These are very calming, positive shades with a timeless quality, that are muted but not enough that they fade into the background, so they work beautifully as a foil for similar earthy tones and richer colors such as browns and ochre, which can give a more dynamic effect.’
Instill a Sense of Quiet Luxury with Off-White
Decorating with white offers a blank canvas that illuminates dark spaces and can make even small entryways feel spacious, light and bright.
White is an instant fixer; it can resolve color conundrums, and declutter and realign your room scheme,' says Arianna Brissi, co-founder and creative director of Brissi 'But, best of all, if you choose to introduce another hue it will work with whatever you select '
Energize with Red
Evoke happiness and warmth with an uplifting terracotta tone. The warm, earthiness of terracotta is a blend of red and orange tones, but with an emphasis on the red
Be inspired to decorate with yellow in your entryway – the most cheerful color, guaranteed to inject warmth and vibrancy into any space
‘This cheery color imbues the room with optimism and is perfect for bringing a sense of positivity into the home,’ says Justyna Korczynska, senior designer at Crown. ‘Yellow is also very soothing, particularly when paired with cool, calming tones such as greys and pale, muted blues The color creates a sense of calm with a feeling of well-being, restfulness, and happiness ’
Calm the Mind with Cobalt Blue
‘Cobalt blue, a favorite of artists and ceramicists, is a great choice for interiors due to its intensity, brightening even darker spaces with its visual punch,' says Robert Whitaker, creative director, Claybrook. 'The shade goes well with lighter hues for a sense of Riviera chic, or go for an all-over color-drenched look if you want to make a statement '
David Mottershead, marketing director at Little Greene shares our approval of this dramatic room color: 'Never be afraid to decorate with blue,' he says. 'Smart and stylish, luxurious and hypnotic, cobalt blue is totally on trend at the moment, and the latest designs dispel the myth that the color is cold or masculine '
