New Home Friday - January 19, 2024

NHA A REAL ESTATE NEWSLETTER JANUARY 19, 2024

WHAT IS GOING ON IN THE MARKET An update of the real estate market

HOMEKEEPR Moving Made Simple

E-CREDIT ADVISOR Get Mortgage Ready

DESIGN TRENDS DESIGN TRENDS SET TO TRANSFORM SPACES IN 2024

HOMEOWNER TIPS Sow these Plants in January to Get Your Gardening Off to a Great Start

PAINT DESIGN BOARD Virtual Color Consultation

HOUSING UPDATE

Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here’s why.

Near-Record Percentage of New Home Inventory Newly built homes are becoming an increasingly significant part of today’s housing inventory. According to the most recent report from the National Association of Home Builders (NAHB): “Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.”

That means the percentage of the total homes available to buy that are newly built is well over two times higher than the norm.

And even more new homes are on the way.

Recent data from the Census shows there’s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where construction just wrapped).

And while some people may worry builders are building too many homes, that isn’t a concern – if anything, the recent increase is really good news. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains: “Even more home building will be needed with the housing shortage persisting in most markets . . . Another 30% rise in home construction can easily be absorbed in the marketplace .”

If you’re trying to sell so you can make a move but you’re having a hard time finding a home you like, explore all of your options, including the newly built homes in your area.

How This Helps You Since the supply of existing homes for sale is still low right now, the increase in new-home construction can be a game changer because it gives you more options for your search.

Picture yourself in a home that’s new from the ground up: new appliances, fresh paint, fewer maintenance needs because everything is new, and so much more.

Doesn’t that sound nice?

And it may be more within reach than you ever imagined. In addition, some builders are offering things like mortgage rate buy-downs for homebuyers right now. This can help offset today’s affordability challenges while also getting you into your dream home. In a recent article, Patrick Duffy, Senior Real Estate Economist at U.S. News, explains: “Builders have been using mortgage interest rate buydowns for many years as a sales incentive whenever interest rates are relatively high, . . .Today more builders are offering rate buydowns for the entirety of the loan, allowing buyers to finance more home for the same payment amount.”

Just remember, the process of buying from a builder is different from buying from a home seller, so it’s important to partner with a trusted real estate agent who knows the local market. They’ll be your go-to resource for coordinating with the builder, reviewing contracts, and more.

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24

HOME DESIGN TRENDS SET TO TRANSFORM SPACES IN 2024

After analyzing several 2024 residential design predictions—from sources including the National Kitchen & Bath Association (NKBA), the American Society of Interior Designers, Houzz, Taylor Morrison, and Ashton Woods—BUILDER compiled a list of nine trends expected to transform homes this year. The overall takeaway reflects a growing interest to slow down in today’s fast-paced environment. Wellness and comfort are top of mind still, four years after a pandemic shook the globe. Plus, homeowners are also prioritizing outdoor connections and colors, minimalistic and clutter-free spaces, and personalization. Learn more about each of the trends and insights below.

Wellness Wins

A key theme from both of NKBA’s 2024 bath and kitchen trends reports was an increased homeowner focus on wellness. In bathrooms, designers are creating spa atmospheres that support relaxation, with 78% reporting a focus on health and wellness as a driving design attitude. In kitchens, designs are focused on nutrition and healthy eating, with appliances including more refrigeration space and integrated cooking functions.

Outdoor Illusion

Homeowners are looking for more ways to connect with the outdoors, whether that’s through window openings or natural materials. Houzz reports searches for bedroom window seats, living room bay windows, and four-season rooms have all recently increased. Lee Crowder, Taylor Morrison national director of design and model experience, also says “it's about choosing colors and materials that evoke the essence of nature in every room. Consider neutral stains that show the character of wood cabinets or flooring, tiles that emulate texture and depth of natural materials, and rich hues of green, blue, black, and brown that create a soothing and earthy atmosphere.”

Lots of Lighting

People want to live in the light. During the day, they want big windows and doors that provide as much natural light as possible and, at night, various layered artificial lighting for different tasks. According to the NKBA kitchen report, designers will use multiple layers of lighting to support different functions: ambient lighting to create different moods, decorative statement lighting, and nighttime lighting for safety and aesthetics. Ashton Woods adds “Under-cabinet ambient lighting creates a soothing, spa-like environment in your home.”

Earthy Colors

Building off of the previous outdoor trend, the experts agree that blue and green hues are trending for 2024.

Several paint manufacturers highlighted blue shades as their colors of the year, and Houzz’s winter trends report says green is in demand. "We love bold, knockout colors like dark olive greens and moody browns,” says the Ashton Woods team. “Earthy tones help create a comfortable, relaxed environment with a genuine 'easy living' vibe.”

Secret Storage

While savvy storage has been a top trend for the past few years, designers are seeing an increase in secret or hidden spaces. NKBA reports more than 50% of their kitchen survey respondents are looking for walkin, butler, and built-in pantries for more space and function. Houzz says homeowners are also gravitating toward “home interiors that combine whimsy with functionality,” including the inclusion of trap doors, hidden pantries, and speakeasy spaces.

7 plants to sow in January to get your gardening year off to a great start The start of a new year is an exciting time for a gardener. It is a period where many will begin to make plans for the year ahead and the great news is there are plants you can sow in January to really get things off to a good start. Starting seeds indoors early in January gives you a head-start on plants that have a long growing season, and it can mean longer flowering periods and bumper crops. You can also get planting in January, as it is an ideal time to get bare root shrubs and trees into the ground.

1. CAULIFLOWER Start some seeds of the variety ‘All Year Round’ in January in a heated greenhouse - it can also be done in a heated propagator. An alternative variety to sow in January is 'Early White Hybrid' cauliflower, with seeds available at Burpee. Sow seeds in small pots filled with good quality seed compost and give them a temperature of 70-80°F to germinate quickly. The seedlings can then be grown at slightly lower temperatures of 60-65°F ready to transplant the seedlings out into the vegetable garden when they are large enough to handle.

2. CHILI PEPPERS Chili peppers are known as heat-loving plants and are often grown undercover to provide the warmth required for a bumper crop. The plants also have a long season, as it can take 100 days to go from sowing the seeds to getting the first harvest of ripe peppers. A lot of chili pepper growers choose to start the plants off in January or February in a heated propagator. Early plantings of chilis gives the plants the most time possible to produce and ripen their fruits and give you a long season. A warm and sunny windowsill can be used also, if you do not have a heated propagator to use.

3. COBAEA Cobaea is a very fast-growing flowering vine and the tropical plant is often known as cathedral bells or the cup and saucer vine. It can grow 10 feet over the course of a year and can be covered in a plethora of fragrant purple blooms. Seeds are sown from January to March under cover, they do require a little heat to germinate but that can be achieved on a windowsill or in a greenhouse. It is recommended to soak the seeds in warm water for a few hours prior to planting.

4. DAHLIA Dahlias are simple to grow from seed and late January is an ideal time to sow them.

Sow Dahlia seeds in trays of compost and germinate at temperatures of 60-68°F either on a warm windowsill or in a greenhouse. You can pot the seedlings up into individual pots to grow on, ready to be planted outdoors when the risk of frosts has passed. The Figaro Series of dahlia seeds, available at True Leaf Market, can provide double blooms in a mix of colors to brighten up any space.

5. DIANTHUS AKA Sweet Williams, are biennials that can be sown indoors early in the year to encourage the plants to flower during that coming summer. The cottage garden favorites are available in a wide range of colors and are hugely popular as part of beds and borders, or even grown as cutting garden flowers. When sowing in January, Sweet Williams will need the warmth of a heated propagator to get them to germinate. Sow the seeds on the surface and give them only a very light covering of compost or vermiculite, as light is essential for germination.

6. DELPHINIUM Delphiniums are statuesque and dramatic additions to a backyard; their towering spikes of color always make them popular choices for a border. You can grow delphiniums from seed indoors in modules to add to your flower beds, or if you are planning a cottage garden border. Delphiniums are commonly sown in situ in fall or spring, but you can start them early indoors around 8-10 weeks before your first frost. A period of cold stratification is required for the seeds and this can be achieved by putting the seeds in a refrigerator for 7-10 days before sowing.

7. LEEKS An early sowing indoors gives them lots of time to grow and bulk up, ready for the first leeks to be harvested come late summer or early fall. Sow the seeds thinly in pots or modules filled with seed compost and cover them with a thin layer of more compost. The seeds want temperatures of at least 45°F to germinate and a spot with good light.

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