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8 Design Trends Seen in the HGTV Urban Oasis Home 8 Design Trends Seen in the HGTV Urban Oasis Home

8 Design Trends Seen in the HGTV Urban Oasis Home

Real Estate /

Last updated on October 15, 2024 HGTV has done it again: taking a humble home in Kansas City, Missouri, and remodeling it into an urban oasis, ready to be given away to one lucky winner. Taking a cue from Scandinavian modern design influences, interior designer Carmeon Hamilton outfitted this urban beauty with layers of texture, organic elements, and plenty of color. Here are the 8 design trends we saw in this wonderful home. Color, color and more color! HGTV Urban Oasis 2024 in Kansas City, MO Image via: Carmen Hamilton White walls have been trending for several years now, but instead of keeping the entire palette neutral as typically seen in modern Scandinavian designs, designer Carmeon Hamilton opted to infuse each space with tons of color. Bold blues, yellows, rust and many jewel tones are carefully woven throughout the home. Pops of color can also be seen within the home's large collection of vivid works of art. Lots of space to entertain HGTV Urban Oasis 2024 in Kansas City, MO Image via: Carmen Hamilton The trend of wanting space to entertain at home has only increased in recent years, and the Urban Oasis Home has many features conducive to entertaining. From the spacious living room with seating for a crowd, to the spacious kitchen with an oversized island, wet bar, and large outdoor dining room, entertaining is a breeze in this home. wood tones Image of HGTV's Urban Oasis via: Carmen Hamilton Natural wood tones have made quite a resurgence lately, and Urban Oasis has used beautiful wood tones throughout. Wood beams, cabinets, wall moldings, and floors work to ground the space with organic materials. Interestingly, while white cabinets remain the most popular choice when it comes to kitchen cabinets, wood cabinets are now the second most requested material in the kitchen, with 24% of homeowners building or renovating their kitchen opting now for this natural material. natural light Natural light is key in any renovation or new construction, and Urban Oasis is no exception. Large windows let in natural light, as do the many skylights throughout the second floor. Wet room Wet rooms have been trending for a couple of years now and lucky Urban Oasis winners will be able to experience this spa-like bathroom in their new home. A wet room is just what it sounds like: a space enclosed behind glass for your shower and freestanding bathtub. Indoor Outdoor Entertainment Outdoor entertaining spaces that function as second living rooms remain highly sought after. The Urban Oasis features a fire pit with comfortable seating, a dining area, and a separate outdoor living room, virtually doubling your entertaining space. Wellness salon HGTV Urban Oasis 2024 in Kansas City, MO Image via: Carmen Hamilton Forget a flex space with room to exercise; Urban Oasis takes the free space sometimes used to store a treadmill and reinvents what at-home workouts can be with a multi-purpose wellness space. The space comes complete with a projector for streaming workouts, a dry sauna, a meditation area, and even a tea bar. Upstairs landing space In the past, extra upstairs space enclosed behind a door was all the rage; Now, as open concept living becomes more and more accepted, an open upstairs loft is highly desirable. It's also a big trend in new construction: An upstairs landing space can serve as a secondary living room, teen hangout, or hobby room. At Urban Oasis, the upstairs landing zone is a designated music room, with space to display instruments, plenty of storage for records, a keyboard, and comfortable seating. Ready to call this urban oasis home? Enter the HGTV Urban Oasis Giveaway here. __________________________________ Allen Tate is the largest real estate company in the Carolinas with more than 70 offices and 1,800 real estate agents in the Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain regions. Allen Tate is a partner at Howard Hanna Real Estate, the largest private real estate brokerage in the U.S., with 500 real estate, mortgage, insurance, title and escrow services offices and 15,000 sales associates and staff. in 13 states. For more information, visit www.allentate.com and www.howardhanna.com. Visited 462 times, 447 visits today

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Why a condo could be your perfect first home Why a condo could be your perfect first home

Why a condo could be your perfect first home

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If you’re looking to become a homeowner but the price of single-family homes makes you hesitate, you may want to consider a condominium or townhouse. These types of homes often come with a lower barrier to entry, and that can help you start building equity and enjoy the benefits of homeownership sooner. Since they are typically smaller than single-family homes, they can be easier on your wallet. While not always the case, smaller square footage usually comes with a lower price tag as well. Consequently, according to the latest data from real estate agent.com. Condos typically have a lower sales price than single-family homes (see graph below): And here is some interesting news: Homebuilders are focusing more on homes like these. The National Association of Home Builders (NAHB) says: “The proportion of townhouses being built is at an all-time high.” That means there are a large number of options to add to your housing search if you expand it to include condos and townhomes. And you may even find something that fits your budget better. So, if you’re comfortable with a smaller space and want to buy your first home before spring, adding these types of homes to your search could be your answer. The advantages of a condo lifestyle Living in a condominium also has many other advantages. Let’s take a closer look at why condos are attractive to first-time buyers: They help you start building equity. When you purchase a condo or townhome, you build equity and equity as you make mortgage payments and as the value of your condo increases over time. They may require little maintenance. Condos are great if you want to own your place but don’t want to mow the lawn, shovel snow, or fix the roof. Your real estate agent can help explain the associated fees and details of the condos you are interested in. They usually come with a variety of amenities. Your condo may have access to a pool, dog park, or parking. And the best part? You don’t have to take care of any of them. They create a sense of community. Buying a condo means you’ll live close to other people, which is nice if you want a more close-knit feel. Many communities like these host fun events, such as barbecues and parties, to help create that sense of connection between residents. Remember, your first home doesn’t have to be the one you’ll stay in forever. The important thing is to get your foot in the door becoming a homeowner so you can start gaining home equity. Later, that capital can help you buy another place if you want something different. Ultimately, owning and living in a condo or townhome is a lifestyle choice. If you want to see if it makes sense for you, talk to a local real estate agent. Ready to find a home that suits your goals? A condo could be the perfect option for purchasing your first home.

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Preliminary forecasts for the real estate market in 2025 Initial forecasts for the 2025 real estate market

Initial forecasts for the 2025 real estate market

Real Estate /

Initial forecasts for the 2025 real estate market Thinking about moving in 2025 and wondering what to expect? In their early 2025 housing market forecasts, experts say mortgage rates will drop slightly. As that happens, more buyers will return to the market, so more homes will be sold. And that will keep upward pressure on prices. Want to talk to an expert about what that really means to you? come on connect to explore your options today. Don't forget to check out our latest market reports! I'm Joe Peters, a real estate agent with over twenty years of experience at Coldwell Banker Residential Brokerage. I work with people who want to buy or sell a home (or both) in Hunterdon or Somerset County, New Jersey. Clients rely on me for detailed market and neighborhood information and smooth real estate transactions. My access to big data through Coldwell Banker, plus current technology and marketing skills, gives clients a unique advantage.

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Historical Mortgage Rates Since 1950 Rate Trends Over Time Historical Mortgage Rates Since 1950: Rate Trends Over Time

Historical Mortgage Rates Since 1950: Rate Trends Over Time

Real Estate /

If you are thinking about buy a home or refinance your current mortgage you may wonder how interest rates have changed over time and what factors affect them. In this article, we will take a look at the Historical Mortgage Rate Trends in the US since 1950 to 2023. How have mortgage rates changed per year since 1950? Mortgage rates have fluctuated significantly over time, depending on changes in the factors mentioned above. According to Freddie Mac Primary Mortgage Market Survey (PMMS)which tracks average rates for 30-year fixed rate mortgages since 1971 mortgage rates have ranged from a record low of 2.65% in January 2021 to a record of 18.63% in October 1981. The following table shows the historical trends of 30-year fixed rate mortgage rates from 1950 to 2023 based on data from Freddie Mac PMMS (1971 onwards) and Federal Reserve Economic Data (FRED) (1950 to 1970). As you can see from the graph, mortgage rates have gone through several increasing cycles. over time, reflecting changes in the economic and financial conditions. Fountain Historical changes in mortgage rates since 1950 Some of the notable periods of mortgage rate movements include: The 1950s when mortgage rates were relatively stable and low, averaging around 4%. This was a period of strong economic growth and low inflation after World War II, supported by government spending on infrastructure, defense, education, and social programs. The housing market also benefited from favorable policies, such as low-down payment requirements, long-term amortization schedules, tax deductions for mortgage interest payments, and government-backed mortgage insurance programs. In the 1960s, mortgage rates began to increase gradually, reaching around 7% at the end of the decade. This was a period of moderate economic growth and rising inflation, driven by an increase government spending on social welfare programs such as Medicare and Medicaid, as well as military spending on the Vietnam War.  The real estate market also faced some challenges, due to tighter credit conditions, higher construction costs and urban unrest. The 1970s mortgage rates rose to double digit levels reaching its peak in 12.9% in 1979. This was a period of stagflation characterized by low economic growth and high inflation, caused by oil price shocks, the collapse of the Bretton Woods fixed exchange rate system, and expansionary monetary and fiscal policies. The housing market was also affected by declining affordability, lower demand and lower construction activity. In the 1980s mortgage rates reached record levels hitting 18.63% in 1981 before falling sharply around 9% by the end of the decade. This was a period of disinflation, marked by a severe recession in the early 1980s, followed by a strong recovery in the mid- to late 1980s. The Federal Reserve adopted a tight monetary policy to curb inflation, while the government implemented a fiscal policy that combined tax cuts and spending increases. The real estate market also experienced a boom-and-bust cycle, with high interest rates and low affordability in the early 1980s, followed by lower interest rates and greater demand in the mid to late 1980s. The 1990s saw mortgage rates steadily decreased, reaching around 6.5% by the end of the decade. This was a period of stable economic growth and low inflation, supported by technological innovations, productivity increases, trade liberalization and fiscal consolidation. The housing market also enjoyed sustained expansion, with rising homeownership rates, rising home values, and robust construction activity. In the 2000s mortgage rates fluctuated within a narrow range of 4.7% to 8.6% with an average of around 6.2% for the decade. This was a period of economic volatility and financial instability, marked by the Dotcom bubble and burst in the early 2000s, followed by the housing bubble and bust in the mid-to-late 2000s. The Fed adopted an accommodative monetary policy to stimulate the economy, while the government implemented various fiscal stimulus measures to mitigate the effects of recessions. The housing market also witnessed a dramatic rise and fall, with lax lending standards, speculative demand and excessive leverage fueling a housing boom in the early to mid-2000s, followed by a housing crisis in the late 2000s, that triggered the global financial crisis. In the 2010s mortgage rates reached all-time lows falling below 3.5% for most of the decade. This was a period of slow economic recovery and low inflation, hampered by the aftermath of the financial crisis, the European debt crisis, the US-China trade war, and other geopolitical uncertainties. The Fed adopted an unconventional monetary policy to support the economy, including quantitative easing (QE), forward guidance and near-zero interest rates. The housing market also gradually recovered from the crisis: improving affordability, pent-up demand, limited supply and favorable demographics boosted home sales and prices. The 2020s saw the mortgage rates affected with a historic low of 2.65% in January 2021 in the middle of COVID-19 pandemic before moving on 7% in October 2023 in the midst of the increase of inflationary pressures. This was a period of unprecedented economic disruption and political intervention due to the global health crisis that caused widespread lockdowns, business closures, job losses and income shocks. The Federal Reserve adopted emergency monetary policy to provide liquidity and stimulus to the economy, including reducing interest rates to zero, expanding QE programs, launching new credit facilities, and adopting a new framework that allows greater tolerance to inflation. The government also implemented massive fiscal stimulus measures to provide relief and support to households and businesses affected by the pandemic. The real estate market also defied expectations and performed strongly during the pandemic, despite changing preferences for more space and amenities, limited inventory levels, and strong demand from millennials driving home sale prices to new highs. How are mortgage rates determined over time? Mortgage rates are interest rates that lenders charge borrowers to borrow money to buy or refinance a home. Mortgage rates are influenced by many factors, such as: The monetary policy of the Federal Reserve, which affects the supply and demand of money in the economy. The Federal Reserve can raise or lower its target for the federal funds rate, which is the interest rate that banks

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Where are interest rates headed in 2025 Where are interest rates headed in 2025?

Where are interest rates headed in 2025?

Real Estate /

Last updated on September 25, 2024 Last week, the Federal Reserve delivered some good news by issuing its first interest rate cut in four years, helping to make mortgages more affordable for Americans. The half-point rate cut is twice as large as expected, indicating the Fed believes inflation is now under control, allowing it to focus on preventing a recession and limiting job losses. While mortgage rates are not directly tied to the federal funds rate, they do follow long-term trends in the bond market. Mortgage rates have already fallen about a percentage point since May and nearly 2% from record highs.. Mortgage rates are likely to It could continue to fall if the Fed continues to cut short-term rates further. Danielle Hale, chief economist at Realtor.com, said: “These lower rates have not yet induced a major shift in homebuyer and seller activity as home sales remain sluggish, but they have provided some long-awaited relief to homebuyers’ purchasing power.” What’s more, monthly mortgage rates for a median-priced home have dropped by nearly $300 a month, and homeowners can now expect to spend around $2,100 a month. As we prepare to enter the fourth quarter of 2024, leading mortgage experts have predicted what consumers can expect in 2025 in terms of mortgage interest rates. By the fourth quarter of 2025, the Mortgage Bankers Association projects rates will be 5.8%, and the bond market is currently pricing in even lower rates. We believe that with rates declining, both buyers and sellers will be more willing to enter the market. As rates decline, increased buyer demand and a likely increase in appreciation are expected. One strategy that buyers are currently employing is to purchase the home early, thereby locking in lower home prices while planning to refinance at even lower rates when the time is right. Visited 746 times, 2 visits today

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Mortgage Rate Forecast for October 2024 Expert Predictions Mortgage Rate Forecast for October 2024: Expert Predictions

Mortgage Rate Forecast for October 2024: Expert Predictions

Real Estate /

As we look to the future, October 2024 the forecast for mortgage interest rates indicates a possible drop. By the end of October, many experts predict that mortgage rates could be around 5.95% to 6.25% for the 30-Year Fixed Rate Mortgage (FRM). This forecast is driven by several economic factors, including changes in Federal Reserve policy and inflation rates that could influence homeowners’ decisions in the coming months. Mortgage Interest Rate Forecast for October 2024 Key points Current trends: Mortgage rates have come down recently, with the latest average at 6.09% for FRM of 30 years. Projected rates: At the end of October 30-year fixed mortgage rates could range between 5.95% and 6.25%. Economic factors: Developments related to economic growth, Federal Reserve policies, and inflation will have a significant impact on mortgage rates. Impact on the Home buyer: Lower rates could encourage more first-time homebuyers to enter the market. Understanding the current mortgage rate environment The mortgage market always seems to have an air of unpredictability to it. Currently, homeowners and potential buyers are keeping a close eye on economic indicators and announcements from the Federal Reserve. The latest available data from the Federal Reserve Primary Mortgage Market Survey® indicates that the average 30-year fixed mortgage rate as of September 19, 2024, is 6.09%, below the highs reached at the beginning of the year. According to Freddie Mac, as of 09/19/2024, there was a change in 1 week of -0.11% and a One-year variation of -1.1% reflecting improved borrowing conditions for homeowners. Mortgage interest rates are expected to continue their downward trend through October 2024, with several experts predicting rates will be in the 5.75% to 6.5% range by the end of the year. Below is a detailed breakdown of current expectations. Source: Freddie Mac Factors that influence mortgage rates Understanding why rates fluctuate is critical for anyone involved in the real estate industry. Here are some of the most important factors influencing mortgage rates for October 2024: Economic growth The performance of the economy plays a key role in determining the Federal Reserve’s interest rate decisions. As the economy grows, inflation tends to rise. Although inflation has shown signs of stabilizing, any unexpected increase could prompt the Federal Reserve to adjust its policies. Federal Reserve Measures There has been speculation recently about possible rate cuts by the Federal Reserve by the end of the year. If these cuts occur, they could lead to a decline in mortgage rates. The CME Group anticipates an almost 50% chance that the federal funds rate could fall to between 4% and 4.25%. Ultimately, these measures could reduce borrowing costs for families looking to purchase homes. Inflation and consumer spending Inflation remains a thorn in the side of economic stability. Although recent data suggest a moderate outlook, any sudden increase could lead the Fed to reassess its approach. If consumer spending slows after a subsequent increase in mortgage interest rates, housing demand could also fall, leading to further tightening. Housing supply and demand In many regions, the balance between housing supply and demand remains tense. With fewer new constructions and a shrinking stock of existing homes, demand continues to push prices and rates higher. So, if rates fall, demand is stimulated, giving potential homeowners a clearer path to property purchase. Impact on homebuyers in October 2024 For potential homebuyers, lower mortgage rates can mean substantial savings and increased affordability from 6.09% to a projected 5.95% may seem like a minor thing, but over the course of a 30-year mortgage this difference can translate into thousands of dollars. Additionally, if first-time buyers act quickly and take advantage of projected lower interest rates, they can secure homes before the market becomes saturated again. With more people likely to enter the housing market, it is essential for buyers to be prepared and informed about how these changes could affect their purchasing power. Regional variations It’s important to note that mortgage rates can vary significantly across regions. Some markets may experience more fluctuations based on local economic conditions and real estate dynamics. Therefore, potential buyers should pay attention to the specific conditions in their market in addition to national trends. Market sentiments and predictions Analyzing the market can be overwhelming for many people. Recent predictions, such as those of the Business information and CBS News show a collective belief that rates will trend lower through 2024 and potentially into 2025, with some outlooks indicating rates will possibly fall below 6% in the coming months. Experts’ predictions: The Mortgage Bankers Association predicts an average mortgage rate of 6.5% by the end of 2024. Fannie Mae anticipates a slightly lower average of 6.4% for the same period. Other analysts suggest rates could stabilize between 5.75% and 6.0%, depending on economic conditions and future Fed actions. These forecasts reflect a consensus among analysts on the direction of the economy and consumer interest rates, promising several more months of favorable credit conditions for potential home buyers. My opinion on the forecast I believe the next few months will reveal crucial information about home financing. The combination of a slower economic growth rate and the planned actions by the Federal Reserve indicate a positive trend for those seeking a mortgage. It is an exciting period for first-time homebuyers, and I encourage those who have been on the fence to consider entering the market. Several markets are experiencing a slowdown as homeowners postpone selling, waiting for more favorable conditions. This balance contributes to price stability in many areas, making now a good time for first-time buyers to get a loan before prices possibly rise again. In short, the Mortgage interest rate forecast for October 2024 is that the housing market is evolving, and expectations of lower rates provide hope for many potential buyers. By understanding the dynamics that influence these rates (such as economic conditions, Federal Reserve initiatives, and regional market variations), individuals can make well-informed decisions about their future in the housing market. Frequently Asked Questions 1. What is the current average mortgage interest rate? As of September 19, 2024, the

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Lower mortgage rates increase your purchasing power Lower mortgage rates increase your purchasing power

Lower mortgage rates increase your purchasing power

Real Estate /

Lower mortgage rates increase your purchasing power Mortgage rates are coming down, and that's great news for your bottom line. As rates go down, so does your next home payment. Even a small change in mortgage rates can have a big impact on your purchasing power. If you put off your search when mortgage rates were higher, think about how much you could save now that rates are coming down. Come on connect To explore your options today. You can also call or text me at 908-304-4660. Don't forget to check out our latest news. market reports! I'm Joe Peters, a real estate agent with over twenty years of experience at Coldwell Banker Residential Brokerage. I work with people who want to buy or sell a home (or both) in Hunterdon or Somerset County, NJ. Clients rely on me for detailed market and neighborhood information and to make real estate transactions seamless. My access to big data through Coldwell Banker, plus current technology and marketing knowledge, gives clients a unique advantage.

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Why am I being asked to sign a written buyer Why am I being asked to sign a written buyer agency agreement?

Why am I being asked to sign a written buyer agency agreement?

Real Estate /

If you're a homebuyer working with a real estate agent, it means you're working with a professional who has an ethical obligation to act in your best interest. Beginning August 17, 2024, you'll be required to sign a written buyer representation agreement after you've chosen the professional you want to work with. Here's what you need to know about these agreements. What is a “Buyer’s Written Representation Agreement”? What does it do? Written buyer agency agreements are an agreement between you and your real estate professional that outlines the services your real estate professional will provide to you and what you will be paid for their services. Why am I being asked to sign an agreement? Written representation agreements between buyers and agents became a nationwide requirement for many real estate professionals as part of the National Association of Realtors' proposal to resolve disputes over broker commissions. The requirement went into effect on August 17, 2024. NOTE: In North Carolina, real estate agents are required to have written buyer representation agreements before an offer is drafted. What is changing in North Carolina is that written buyer representation agreements must now be drafted before the buyer views a property, in person or virtually. Are these agreements new? In some places, yes. Many states (like North Carolina) have required them for years, while others don't. As a result, it's entirely possible that you or others you know haven't used them in the recent past. Regardless, they're now a nationwide requirement for many real estate professionals. Are these agreements negotiable? Yes! You should feel empowered to negotiate any aspect of the agreement with your real estate professional, such as the services you want to receive, the length of the agreement, and compensation. Compensation between you and your real estate professional is negotiable and is not set by law. In the written agreement, compensation should be clearly defined (for example, a flat fee, a percentage, or an hourly rate). The rate should not be a range. Only sign an agreement that reflects what you and your real estate professional have agreed upon. How do I benefit from these agreements? These agreements clearly state what services you (as a home buyer) expect your real estate professional to provide and how much you will be paid. These agreements clarify things and reduce any potential confusion at the beginning of your relationship with your real estate professional. When do I need to sign an agreement? You will be required to sign a written buyer representation agreement with your real estate professional before you visit a home with them, either in person or virtually. If you simply visit an open house on your own or ask a real estate professional about their services, you do not need to sign a written buyer's agreement. Does this mean I have to pay my real estate professional out of pocket? Not necessarily. While you are responsible for paying your real estate professional as stipulated in your contract, you can still request, negotiate, and receive compensation for your real estate professional from the seller or their agent. Do the agreements dictate a specific type of relationship I need to have with my real estate professional? No. You are permitted to enter into any type of business relationship with your real estate professional as permitted by the law of the state in which you are purchasing a home. Can I change or exit an agreement? Yes. You and your real estate professional can mutually agree to change your agreement. Agreements may have specific conditions under which they can be terminated, so read the wording of the agreement and speak to your real estate professional if you wish to change or terminate your agreement. To learn how Real Estate Experts works with buyers, read our new Buyer's Guide.

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Checklist for preparing your home for sale Checklist for preparing your home for sale

Checklist for preparing your home for sale

Real Estate /

Checklist for preparing your home for sale Checklist for preparing your home for sale Are you preparing your home to sell? Here are some tips on what you can do to prepare. Focus on making it attractive, showing that it is cared for, and improving curb appeal. If you would like specific tips to help your home stand out in our local market, let us help. connect . Don't forget to check out our latest news. market reports! I'm Joe Peters, a real estate agent with over twenty years of experience with Coldwell Banker Residential Brokerage. I work with people looking to buy or sell a home (or both) in Hunterdon or Somerset County, NJ. Clients rely on me for detailed market and neighborhood information and to make real estate transactions seamless. My access to big data through Coldwell Banker, plus current technology and marketing knowledge, gives clients a unique advantage.

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