In today’s fast-paced world, many families opt to enjoy meals around a kitchen table or breakfast bar, often leaving the formal dining room empty and unused. Here are a few ways you can revamp your formal dining room into a fun or functional space.
Make a Work Area
Boost your productivity by designating a separate space that prevents work and homework from overtaking the rest of your home. Furnish the room with a desk, a supportive chair and a small worktable for projects. Be sure to include baskets or other storage bins to organize supplies.
Set Up a Game Room
Score big on family bonding with a game room that brings everyone together in a fun, modern way — much like the dining room table once did. Consider a ping-pong or pool table with an add-on tabletop feature and surround it with comfortable chairs. Include cabinetry to store board games.
Start an Indoor Garden
Show off your green thumb with a variety of plants in their very own garden room. Use colorful planters and vases to bring character to the space, but make sure you place planters on waterproof surfaces.
Build a Library
Line the walls with shelves and fill them with your favorite books. For something unusual, consider creating a music library with your favorite vinyl albums or a small movie room to house your favorite films. Don’t forget to include some plush seating to enjoy your media collection.
Create a Sitting Room
Ditch the TV and create an inviting conversation space with comfortable furnishings arranged to encourage family connection. Add soft lighting and an electric fireplace for added warmth.
Organize a Decor Swap
Transform your space without spending a dime by trading trinkets for newfound treasures at a decor swap.
Plan the Perfect Swap
Send invitations to friends and family. Include instructions detailing how many pieces to bring, what items are acceptable and what to leave at home. You might even try a themed swap, like “seasonal splendor” or “vintage vibes.”
Host With Style
Create an inviting atmosphere with light background music and refreshments. Arrange tables to display the featured pieces and allow everyone to browse, then have your guests make selections. Keep the process simple by drawing two or three names at a time and setting a time limit for choosing items. Allow extra time for any additional swapping between guests.
Any unclaimed items remaining after the decor swap is over can be donated to a local nonprofit or posted online in a Buy Nothing group.
Lighting Hacks
Proper lighting can make or break a room’s look and feel. Every room is different, so it’s important to tailor lighting to the function of the space.
Soft lighting works well in rooms where you want to relax, such as bedrooms and living rooms. Skip the overhead lights and opt for table lamps or wall sconces to create a sense of coziness.
Practical lighting is essential in areas where you want to be productive, such as an office or workout room. In these spaces, the right overhead lighting and functional fixtures can add brightness and boost productivity.
Versatile lighting is key in the areas of your home where you can be both productive and relaxed, such as the kitchen or primary bedroom suite. Install dimmer switches for overhead lighting to adjust the mood as needed. Add lamps or battery-operated LED candles to create a warm, inviting atmosphere during relaxation time, and consider under-cabinet lighting for practical tasks. Layering your lighting options allows you to easily transition the space from bright and functional to soft and soothing.
The Dirty Truth About Kitchen Towels
Keeping your kitchen sparkling clean isn’t just about scrubbing surfaces and washing fruits and veggies. One often overlooked culprit for bacteria buildup is the kitchen towel.
While cloth towels are an economical and environmentally friendly alternative to paper, they’re breeding grounds for bacteria. Even after rinsing towels in the sink, salmonella can still grow quickly overnight. Towels used to wipe down counters and clean up spills should be laundered in a washing machine with hot water after one day’s use. If towels are used only to dry hands, they should be laundered after three or four days. Experts also recommend replacing kitchen towels every year or two.
Recipe: Penne With Smoked Sausage
Ingredients
1 Tbsp. olive oil
1 lb. smoked sausage
½ cup diced onion
1 Tbsp. minced garlic
½ tsp. salt
½ tsp. pepper
2 cups chicken broth
1 (10 oz.) can diced tomatoes
½ cup milk
2 cups dry penne pasta
Crushed red pepper
Shredded Parmesan cheese
Basil leaves
Arugula leaves
Directions
Heat olive oil in a large pan over medium heat. Slice sausage into bite-sized pieces. Brown sausage and onion in olive oil. Add garlic, salt and pepper. Continue cooking for about 30 seconds.
Add chicken broth, tomatoes, milk, and dry pasta to the pan and bring to a boil. Reduce heat to low and cover. Simmer for 15 minutes. Remove from heat and top with crushed red pepper and Parmesan cheese. Garnish with basil and arugula leaves.
The Personal Marketing Company
11511 W. 83rd Terrace
Lenexa, KS 66214
This back-to-school organizational tip is fashionably late because most kids have been back to school already for well over a month here in SoCal. But wait! There’s a reason! Sometimes it’s hard to know how to organize depending on what kind of schedules and classes your kids have this school year. Sometimes teachers have different requirements and it takes about a month to identify what your particular needs are in relation to organizing your home base. Here’s some tips to help you get up to speed and organize more with a clear purpose and goal! Hope it’s a great school year for all our kids!
As summer fades and that crisp fall air arrives, back-to-school season is officially here! This time of year can bring a mix of excitement and stress. Whether you’re balancing work, managing the household or both, transitioning from lazy summer days to school routines can feel overwhelming. But don’t worry—I’ve got your back! With a little planning and a few organizing tips, you can make this shift smoother for everyone. Let’s dive into some easy back-to-school organization tips and a handy checklist to help you get ready for the upcoming Fall season.
1. Create a Drop Zone for School Essentials
One of the best ways to keep your home organized and your mornings stress-free is by setting up a drop zone. This is the central hub where all school-related items are kept; therefore, nothing gets lost in the daily shuffle.
What You’ll Need:
Hooks or cubbies for backpacks and coats.
A wall calendar or whiteboard to track important dates.
Baskets or bins for shoes, lunchboxes, and other essentials.
A dedicated spot for important papers and school forms.
Pro Tip: Label everything so each item has its own spot. It’s a great way to stay organized and helps kids learn to put their things where they belong. Set up a drop zone near the entryway or kitchen, and you’ll have everything you need in one spot. This makes the morning rush smoother and a lot less chaotic!
The Parulekar Family Drop Zone
2. Set Up a Homework Station with All the Necessary Supplies
Having a dedicated homework station can make after-school routines much smoother. When kids know exactly where to go to do their homework, it helps them transition from playtime to study time without (as much) resistance.
What You’ll Need:
A desk or table in a quiet, well-lit area.
Storage solutions like pencil holders, bins, and trays to keep supplies organized.
A bulletin board or wall organizer to display schedules, assignments, and artwork.
Comfortable seating to ensure kids can focus on their tasks without distractions.
Another Idea: I’ve seen some moms use a homework cart on wheels, and I thought that was an interesting idea! Here’s an example from @lifewithlaineeto give you some inspiration.
Homework cart idea courtesy of @lifewithlainee
3. Easy Snack Organization
With busy mornings and hectic afternoons, having snacks ready to go can be a lifesaver. By organizing your pantry and fridge, you can make it easy for your kids to grab their own snacks, giving you one less thing to worry about.
What You’ll Need:
Clear bins or baskets labeled with snack options. I love these!
A dedicated shelf in the fridge or pantry at kid height for easy access. I can vouch this works for a kid as young as two.
Pro Tip: Decant your kids’ favorite snacks into clear containers. It not only saves a ton of space, but it also makes it super easy to see when you’re running low on stock.
The Parulekar Family Snack Station
Back-to-School Organization Checklist:
I’m a total list maker—I can’t help myself! If you’re like me and love a good checklist, here’s one that covers all the essentials for easy back-to-school organization:
Check Fall Clothing & Shoe Sizes: Go through your kids’ fall clothes to ensure they fit. Make a list of any items that need to be purchased or replaced.
Organize School Supplies: Check the school supply list and stock up on essentials like notebooks, pencils, backpacks, and lunchboxes. Consider labeling everything with your child’s name.
Calendar & Schedule: Update your family calendar with school start dates, extracurricular activities, and important events.
First Day Boards/Printouts: Get first-day boards or printouts ready for those all-important first-day pictures.
Restock your Medicine Cabinet: We all know it’s just a matter of time before a virus comes around, so why not make things easier on ourselves? Now is the perfect time to stock up on supplies, and while you’re at it, don’t forget to grab masks and hand sanitizer.
Bedtime Routine: Start transitioning to a school-year bedtime routine to make mornings easier.
Morning Routine: Establish a morning routine, including a healthy breakfast and time to get ready without rushing. I bought sliding chore charts off Etsy that my kids can easily follow and feel empowered checking things off the list.
Back-to-School Talk: Talk to your kids about how they’re feeling about going back to school, especially if it’s a new school or grade. Discuss any concerns or excitement they have about the new school year and address any anxieties.
Update Contact Information: Ensure the school has your most current contact information, including emergency contacts.
After-School Plans: Confirm after-school care arrangements or set up a plan for after-school activities.
Transportation Plans: Verify bus routes or carpool arrangements and ensure your kids know the plan.
Final Thoughts
As we get ready for the new season, give these back-to-school organization tips and checklists a try. Do you have any go-to tricks for staying organized during this hectic time? Drop them in the comments below! And don’t forget to visit DC Moms for more handy tips and resources. Happy (almost) Fall, moms—we’ve got this!
August 17, 2024 marks a seismic shift in the real estate industry.
It’s a day that will reshape how buyers and sellers interact, and most importantly, it will redefine the relationship between buyers and their agents.
For those of us who have been in real estate for decades, this change feels almost revolutionary. But the seeds of this transformation were planted back in the 1990s when buyers first began advocating for buyer’s agents to be true fiduciaries, safeguarding their interests above all else. This movement was driven by a desire for transparency, accountability, and a partnership that ensured buyers were fully represented in one of the most significant financial decisions of their lives.
The Shift in Commissions
Traditionally, buyer agents were compensated through the MLS, with commissions often baked into the sale price of a home. Come August 17th, however, this practice will no longer be the default. Commissions for buyer agents will be removed from the MLS, meaning buyers and agents alike will be in the dark about whether compensation is available. This is a significant departure from the status quo, where both parties had clear expectations going into a transaction.
New Requirements for Buyers
Another key change is the introduction of mandatory signed agreements before buyers can even tour a property privately with an agent. These agreements come in various forms:
Exclusive Buyer Agency Contract: A commitment that binds the buyer to an agent for a specified period, often requiring compensation upfront for their services.
Single Property Tour Form: A more flexible agreement for buyers who want to tour a specific property without long-term commitment.
Non-Exclusive Buyer Agency Contract: Ideal for investors, this agreement allows buyers to work with multiple agents simultaneously, offering flexibility in their search.
The introduction of these forms signals a new era where the choice of representation matters more than ever. Buyers must be more strategic in selecting their agents, ensuring they align with their needs and goals.
Historical Context: The Evolution of Buyer Representation
In the 1990s, the concept of a buyer’s agent being a fiduciary was a radical idea. Before that, most agents worked primarily for the seller, even if they were showing homes to buyers. The introduction of buyer agency contracts changed the game, giving buyers their own advocates in the transaction process. Today’s changes build on that legacy, pushing the industry toward even greater transparency and fairness.
What Buyers Need to Do Now
As we navigate this new landscape, it’s crucial for buyers to understand their options and the implications of these changes:
Educate Yourself: Understanding the different types of agreements and how they affect your buying power is more important than ever.
Choose Wisely: The agent you work with will significantly impact your experience and outcome. Make sure they are fully informed and able to articulate their value proposition.
Plan Ahead: The days of casually touring homes without a plan are over. Buyers must now be more deliberate in their approach, ensuring they have the right representation in place from the start.
Questions to Consider
Are you prepared for the new requirements in the home-buying process starting August 17th?
How will the removal of buyer agent commissions from the MLS affect your home search strategy?
What should you look for in a buyer’s agent in this new era of real estate?
Conclusion
The real estate market is on the cusp of a significant change, but with the right preparation and understanding, buyers and sellers can navigate these new waters successfully. Who you work with matters more than ever, and having the right representation can make all the difference in achieving your real estate goals. That’s why you can call any of our CA Real Estate Group agents to help you navigate your next real estate purchase or sale.
Is your home looking less exciting these days? Are you sick of staring at the same four walls but don’t have a huge budget for renovations? Just because you don’t have a lot to spend doesn’t mean you can’t refresh your home. You just need to know what to do and how to pay as little as possible for it. Here are seven microbudget ways to upgrade a home.
Repaint Any Room
“Paint is a decorator’s miracle,” says interior designer Kate Dawson. “Nothing can transform a space as quickly or dramatically—without renovating—as a new coat of paint. It can change the vibe and energy even if it’s only used on one wall.”
The best thing about paint is it’s not only inexpensive (the price of dining out for lunch can get you a fairly cheap can of paint)—but you can also do it yourself and save on labor. The cost of rollers and brushes also won’t break the bank.
Swap Out Pillows
Whether they’re in your living room or your bedroom, old pillows can really make a room look dated, but new pillows can surprisingly transform. “I see decorative pillows as the home’s version of earrings, shoes, and scarves,” Dawson says. “When we’re going out, we always accessorize because it adds individuality, style, and pops of color. A room is the same way. Pillows pull the room together and give the space cohesion and a new energy.”
There are many places to buy pillows inexpensively, such as HomeGoods or Target. Amazon also has curated sets, so you don’t have to spend extra time and money mixing and matching. Another way to save a few bucks is to replace the pillow case but keep the insert.
Add Greenery
There isn’t one room that wouldn’t benefit from bringing a little nature in. That’s why Dawson is so passionate about plants. However, real ones can be expensive, so she recommends going the faux route to achieve the same design impact for less money. “Plants are a fantastic way to play with scale, levels, and volume,” the designer says. “They come in so many shapes and sizes and are the perfect thing to tuck into little places that just need a little pop of color, or for large spaces such as a big empty corner of a room. Get a nice faux six-inch fiddle leaf plant for any area that feels like a gap in the flow of the space.”
Wallpaper A Powder Room
We often neglect powder rooms but these spaces are a great way to go big on design. While replacing a toilet and sink can be expensive, installing wallpaper is a great way to get some wow factor without overspending. To save more money, consider peel-and-stick wallpaper over the traditional pasted kind because it can be self-installed and generally costs less.
Swap Out Hardware in the Kitchen and Bathroom
Old hardware can really date a room. While you can definitely splurge on hardware, you don’t need to. Look for hardware multipacks, which can get the cost of a handle or knob down to a few dollars each—a major bang for your buck.
Add A Peel And Stick Backsplash To Your Kitchen
Is your kitchen backsplash looking dated? While you might not have the budget to replace it permanently, you can use peel and stick tile over it. From faux marble subway tiles to ceramic penny styles, there are a lot of options out there. Best of all, no one will know the difference between that and the real thing.
Add Artwork in Any Room
Dawson recommends upgrading your plain walls with artwork. “Adding colorful artwork instantly tells a story about the homeowner,” she says. “It always makes great conversation, and aesthetically, it always adds depth, texture, and dimension to the room.”
Alternatively, you can use photos. Try shopping from your own camera roll for maximum savings. That beautiful shot you have of a sunset on vacation can be made into a canvas fairly inexpensively.
Are you on the fence about whether to sell your house now or hold off? It’s a common dilemma, but here’s a key point to consider: your lifestyle might be the biggest factor in your decision. While financial aspects are important, sometimes the personal motivations for moving are reason enough to make the leap sooner rather than later.
An annual report from the National Association of Realtors (NAR) offers insight into why homeowners like you chose to sell. All of the top reasons are related to life changes. As the graph below highlights:
As the visual shows, the biggest motivators were the desire to be closer to friends or family, outgrowing their current house, or experiencing a significant life change like getting married or having a baby. The need to downsize or relocate for work also made the list.
If you, like the homeowners in this report, find yourself needing features, space, or amenities your current home just can’t provide, it may be time to consider talking to a real estate agent about selling your house. Your needs matter. That agent will walk you through your options and what you can expect from today’s market, so you can make a confident decision based on what matters most to you and your loved ones.
Your agent will also be able to help you understand how much equity you have and how it can make moving to meet your changing needs that much easier. As Danielle Hale, Chief Economist at Realtor.com, explains:
“A consideration today’s homeowners should review is what their home equity picture looks like. With the typical home listing price up 40% from just five years ago, many home sellers are sitting on a healthy equity cushion. This means they are likely to walk away from a home sale with proceeds that they can use to offset the amount of borrowing needed for their next home purchase.”
Bottom Line
Your lifestyle needs may be enough to motivate you to make a change. If you want help weighing the pros and cons of selling your house, connect with CA Real Estate Group today.
When you’re thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you. As the Mortgage Report says:
“Good credit scores communicate to lenders that you have a track record for properly managing your debts. For this reason, the higher your score, the better your chances of qualifying for a mortgage.”
The trouble is most buyers overestimate the minimum credit score they need to buy a home. According to a report from Fannie Mae, only 32% of consumers have a good idea of what lenders require. That means nearly 2 out of every 3 people don’t.
So, here’s a general ballpark to give you a rough idea. Experian says:
“The minimum credit score needed to buy a house can range from 500 to 700, but will ultimately depend on the type of mortgage loan you’re applying for and your lender. Most lenders require a minimum credit score of 620 to buy a house with a conventional mortgage.”
Basically, it varies. So, even if your credit isn’t perfect, there are still options out there. FICO explains:
“While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable. There is no single “cutoff score” used by all lenders, and there are many additional factors that lenders may use . . .”
And if your credit score needs a little TLC, don’t worry—Experian says there are some easy steps you can take to give it a boost, including:
1. Pay Your Bills on Time
Lenders want to see that you can reliably pay your bills on time. This includes everything from credit cards to utilities and cell phone bills. Consistent, on-time payments show you’re a responsible borrower.
2. Pay Off Outstanding Debt
Paying down what you owe can help lower your overall debt and make you less of a risk to lenders. Plus, it improves your credit utilization ratio (how much credit you’re using compared to your total limit). A lower ratio means you’re more reliable to lenders.
3. Don’t Apply for Too Much Credit
While it might be tempting to open more credit cards to build your score, it’s best to hold off. Too many new credit applications can lead to hard inquiries on your report, which can temporarily lower your score.
Bottom Line
Your credit score is crucial when buying a home. Even if your score isn’t perfect, there are still pathways to homeownership. Let’s connect if you want to go over your options with an expert.
Let’s connect and plan your next steps. Find out if we’re the right real estate team for you!
For many families, the kitchen is the social hub of the home, so it’s important that you clean often. Some areas of your kitchen will require consistent attention, such as the counters. Others, like larger appliances such as the refrigerator or oven, can be addressed on a weekly or perhaps monthly basis.
Below, you’ll find daily, weekly, monthly, and seasonal kitchen cleaning checklists to simplify your routine. These detailed guides will help you create and maintain a tidy kitchen space.
Supplies You’ll Need
The Spruce / Sanja Kostic
Before you get started, make sure you have the proper tools and cleaning solutions on hand. The following is a comprehensive list, detailing all of the supplies you need for the four kitchen cleaning checklists in this guide.
For your daily kitchen cleaning checklist, focus your attention on the counters and floors. Keeping these high-use areas clean will help you cultivate a more hygienic environment.
Remove any decor, appliances, or clutter from the countertops.
Wipe down the counters with a clean, damp cloth and an all-purpose cleaner or warm, soapy water. You can also use a DIY all-purpose cleaner, made of diluted vinegar. Consider wiping down high-use areas at this time as well, such as the drawer and cabinet pulls and the handle on your microwave.
Sweep the floors.
Return the items you moved to their proper homes on the countertop or elsewhere.
Unload your dishwasher and tackle any dirty dishes by handwashing or loading the dishwasher.
Wipe down the faucet and inside of your sink with an all-purpose cleaner. Pay close attention to any corners and crevices that may be collecting grime.
Take out the trash and recycling.
Put any cleaning rags or kitchen towels in the laundry and replace them with clean ones.
Weekly Kitchen Cleaning Checklist
The Spruce / Jenelle Botts
In addition to your daily cleaning regimen, your weekly routine should include frequently used appliances like your microwave and refrigerator. Start your weekly cleaning routine with the steps below, then finish with your daily kitchen cleaning checklist above.
Clean the interior and exterior of your countertop kitchen appliances, including your toaster, coffee maker, and microwave.
Next, it’s time to clean the refrigerator. You’ll need to rearrange or remove items as you clean, so you’re able to wipe down all of the shelf and drawer space. As you go, check for expired goods and toss them. Remember to wipe down the face and handles of your refrigerator too. (Save the freezer for your monthly kitchen cleaning checklist.)
Wipe down your stovetop with a store-bought or DIY all-purpose cleaner. Don’t forget to wipe down the face of your oven too.
Next, wipe down additional high-use areas, such as light switches, drawer pulls, cabinet handles, and door knobs.
Turn off (at the breaker box) and clean your garbage disposal, using distilled white vinegar and baking soda.
Finally, you can move on to the daily cleaning checklist and finish your weekly routine by mopping your kitchen floors.
Tip
During your weekly kitchen cleaning routine, take a look at your supplies and see if any cleaning solutions or tools need to be replaced or replenished. Take this opportunity to add those items to your grocery list.
Monthly Kitchen Cleaning Checklist
The Spruce / Sanja Kostic
Your monthly kitchen cleaning checklist provides an opportunity to tidy and disinfect areas that are not frequently used, but still collect dust and grime over time. This includes cabinet and drawer faces, windows, and even the inside of your garbage can. Start with your daily kitchen cleaning checklist, then move onto the tasks below.
Remove the contents of your cabinets and drawers to prepare for cleaning and organizing (we recommend following steps three and four for one cabinet or drawer at a time). This includes your pantry.
Wipe out the inside of your drawer or cabinet with an all-purpose cleaning solution, then move onto the cabinet or drawer face.
Return the contents of your cabinet or drawer, organizing as you go. Move onto the next drawer or cabinet and repeat steps three and four until you’ve tackled all of the storage space.
Wipe down any tiles and grout, such as a kitchen backsplash, with your all-purpose cleaner.
Next, wipe down areas that may be collecting dust, such as the tops of cabinets and light fixtures.
Clean the inside of your dishwasher with a soft abrasive brush or sponge, distilled white vinegar, and baking soda. Be sure to wipe down the face of your dishwasher with an all-purpose cleaner when you’re finished.
Seasonal Kitchen Cleaning Checklist
The Spruce / Ana Cadena
While the checklists above will help you maintain a clean and sanitary kitchen, there are a few leftover tasks you should complete every few months.
Set your oven to the self-clean setting. Keep in mind this process requires some prep (such as removing the racks and turning on the oven vent) and can take a couple of hours.
Using a microfiber cloth and all-purpose cleaning solution, wipe down the ceiling and walls in your kitchen. When you complete this step, pay close attention to areas that may have gathered grease or steam, such as the wall behind your kitchen faucet and the ceiling area above your vent hood.
When you empty and deep clean the cabinets and drawers in your kitchen (during the monthly kitchen cleaning checklist), search for any kitchen tools and utensils you can donate or toss. For cabinets or drawers with food (as well as the pantry), see if there are any items that need to be replaced or replenished, such as expired goods or spices running low.
Unplug your refrigerator and pull it away from the wall. Clean the top of your fridge, the floor underneath it, and even the coils behind it. Use a microfiber cloth and all-purpose cleaner for the top of your refrigerator and the coils, then a broom, dustpan, and mop for the floor. Plug the refrigerator back into the outlet, then return it back to it’s proper home.
Tips for Sticking to Your Kitchen Cleaning Schedule
Following the kitchen cleaning checklists above will take time and discipline, but there are several tips you can use to help you keep up with the chores.
Schedule kitchen cleaning days in your calendar. This is especially important for your monthly and seasonal kitchen cleaning checklists.
Keep your kitchen organized.Maintaining an organized kitchen will help prevent clutter, optimize your food storage, and notice and address any grease, spills, and other debris quickly.
Store your cleaning supplies in bins. Keeping the supplies needed for each checklist in labeled plastic bins can help you grab what you need quickly when it’s time to complete a cleaning checklist.
Declutter often. Instead of waiting until it’s time to complete your kitchen cleaning checklist, make sure you are frequently looking for and removing any expired products or tools/utensils that aren’t being used.
The high mortgage rates that have paralyzed America’s housing market are falling—and could nosedive further by the end of the year.
Rates for a 30-year fixed mortgage plunged to 6.47%—the lowest in over a year—for the week ending Aug. 8, according to Freddie Mac.
And with inflation losing steam and the economy cooling, expectations are high that the Federal Reserve could make not just one, but two rate cuts by the end of this year.
As a result, Realtor.com® senior economist Ralph McLaughlin expects mortgage rates to drop further in September and December, which is “encouraging news for potential homebuyers who have been waiting to participate in the market.”
This is also encouraging news for homeowners who might be thinking of selling. Is it time to finally list their property on the market? And if they do, what should they expect?
To help shed some light on what’s coming down the pike for home sellers, here’s what real estate experts predict will happen to the housing market once rates take the plunge.
The ‘lock-in effect’ will ease—and homeowners will start selling
A recent Realtor.com analysis found that 86% of homeowners have mortgage rates below 6%. Understandably, many feel “locked in,” unwilling to trade in their low rate for today’s higher ones if they sell and buy again.
“Home sellers have been sitting on the sidelines, not wanting to give up their COVID-era interest rates,” says Tan Tunador, vice president and senior loan officer with Atlantic Coast Mortgage.
But once rates drop further, that could change.
“The faster rates drop, the less homeowners will be held in place and we could see both new inventory and more sales,” says Danielle Hale, chief economist of Realtor.com.
“There are a significant number of sellers that couldn’t stomach—right or wrong—going from a 4% rate to a 7.5% rate,” says Mason Whitehead, a Dallas-based branch manager for Churchill Mortgage. “But they can stomach going from 4% to something in the 5% to 6% range.”
More homebuyers will enter the market
In the same vein that sellers have felt frozen in place, buyers have felt iced out of the market. But if mortgage rates continue to decline, then experts predict more buyers who’ve been on the sidelines finally jump into the market.
“When rates drop, I think you will see pent-up demand hit the market again,” says Whitehead.
Some buyers, like sellers, shelved their house hunt because they felt the payment was too high, but a lower rate makes home shopping more affordable.
“For some that didn’t qualify at 7.5%, they will qualify at 6%,” says Whitehead. “So you have more people able to buy as well.”
In other words, once rates fall, the market will see both more sellers willing to sell, and buyers willing and able to buy.
Sales will come on fast and strong
Any seller thinking of listing would be wise to start prepping right now.
“Mortgage rates have been improving, and they are bringing potential buyers out early, many of whom gave up on buying, either because of the low housing inventory or the higher rate environment the past few years,” says Tunador. “For sellers, listing their house early may give them the opportunity to sell before their competition hits the market.”
Other experts agree: There are definitely signs homebuying activity is beginning to bounce off the mat.
“Mortgage applications have perked up, and refinancing activity also looks to be picking up as rates go lower and owners carrying elevated mortgage rates seek to reduce their monthly payments,” says Charlie Dougherty, director and senior economist at Wells Fargo.
“All told, mortgage applications remain low, but the recent upturn is a promising sign that buying activity is starting to heat up and defrost a housing market frozen by higher interest rates,” adds Dougherty.
And if mortgage rates continue to shift south, things might get even toastier.
“When mortgage rates [stay in] a sub-6.5% average, we will really see the housing inventory increase and sales activity boom,” says Tunador.
Home prices will likely remain high
The good news for sellers is that even as the market gets moving, home prices are expected to remain high, or dip only slightly.
“Sellers will continue to be in a historically strong position, as the U.S. housing market is still short millions of homes,” says Dan Hnatkovskyy, co-founder and CEO of NewHomesMate. “Assuming there isn’t a severe recession, we will likely see only modest price decreases in most markets in 2024.”
However, Hnatkovskyy says that formerly hot markets like Denver, Austin, TX, and Phoenix may see a more significant drop in housing prices as smaller investor money sits on the sidelines for most of 2024. But in general, experts don’t see home prices taking a major dive as interest rates start to descend.
Even so, it will be smart for sellers not to get too cocky with their home pricing.
“Sellers may benefit from realistic pricing and encouraging buyer competition,” says Cassandra Happe, an analyst for WalletHub. “Working with a real estate agent to price strategically and enhancing online presence with 3D tours can maximize the chances of a quick and profitable sale.”
In other words, sellers shouldn’t set their hopes price too high lest they price themselves out of the market.
“Housing affordability will likely remain strained given still-high mortgage rates and the rapid run-up in home prices over the past three years,” says Dougherty. A shaky economy could “keep the pace of home sales relatively tepid.”
Multiple offers may make a comeback
The increase in competition among buyers might mean that sellers once again find themselves in the enviable position of being able to choose from several offers for their homes.
“Sellers will be in luck when mortgage rates start to drop: They’ll have multiple offers to consider and have some extra leverage when negotiating,” predicts Bryson Taggart, senior agent partnership manager for Opendoor. “For example, sellers receiving multiple offers can drive up the price of their home or waive contingencies for an easier close and a more convenient timeline.”
Still, sellers need to remember that the highest offer isn’t always the best offer.
“I advise sellers to evaluate offer terms holistically and select the one that aligns best with their wants and needs,” says Taggart.
For some, that could be an offer from a more qualified buyer or a cash buyer, which provides less of a risk for fall-throughs. If a seller is planning to also purchase a home, they should pick a buyer with favorable terms for an efficient close.
Wabi-sabi is a centuries-old Japanese philosophy that embraces imperfection, simplicity, and the natural passage of time.
Photo: Sara Ligorria-Tramp; Design: Emily Henderson
When designing your home, one thing to consider is the aesthetic that you’re striving for. Are you leaning towards a more romantic, cozy look? Then embracing rom-com decor may be the way to go. Prefer to opt for a lived-in, organic look? Then wabi-sabi might be the philosophy for you.
Wabi-sabi isn’t a design trend but an entire life philosophy that’s rooted in the Japanese idea that imperfect, natural, and organic elements are what make our spaces and everyday lives beautiful. It’s an idea that can make life more relaxing because you’re not running around worried about the pursuit of the new and the perfect. Instead, you focus on an appreciation for your current surroundings and the passing of time.
“By recognizing the imperfect and fleeting, wabi-sabi design nurtures a profound appreciation for the present moment and the inherent beauty in life’s impermanence,” says Lauren Lerner, principal designer and CEO of Living With Lolo. Ahead, our experts explain what wabi-sabi is and how you can incorporate this philosophy into your home.
Lauren Lerner, principal designer and CEO of Living With Lolo, a full-service interior design and build studio that offers a specialization in wabi-sabi design
Joel Wong, co-founder of OWIU Design, a full-service architecture and design studio that specializes in thoughtful design practices
Design that centers around wabi-sabi embraces imperfection, simplicity, and the natural passage of time, according to Lerner. “This philosophy celebrates the beauty found in the transient and imperfect nature of all things,” she says.
Originating from 16th-century Zen Buddhist Japanese monks, adhering to a wabi-sabi philosophy means using natural materials that will show their age throughout the years, welcoming a graceful patina, and always looking to organic materials from the earth over synthetics. “Wabi-sabi designs often showcase organic shapes and asymmetry, mirroring the irregularities present in nature,” Lerner says.
Joel Wong, co-founder of OWIU Design, uses wabi-sabi throughout his architecture and design firm’s work. “Spaces are made to evolve with their inhabitants, and that means allowing the aging of the space to simply be a natural element of it. The feeling of wabi-sabi should evolve with you! It is dynamic, just like we are dynamic as people; it needs to be personal to you,” says Wong.
Because of its fluid nature, the look of wabi-sabi depends on the person within the space.
How to Bring Elements of Wabi-Sabi Into Your Home
Wabi-sabi doesn’t require redecorating or going out and buying all new items. It simply means encouraging more natural materials, realizing that life is always changing and growing, embracing the patina on your items, and infusing your sense of comfort into a space. Here are some ways these experts recommend bringing the elements of wabi-sabi into your home.
“Wabi-sabi is a philosophy rather than a set of rules or parameters to follow. Wabi-sabi for me may not be wabi-sabi for you. Don’t take the term as is,” says Wong. “In fact, a lot of Japanese (or rather, foreign) words lose their depth when they get translated into English, so it’s important to understand that there’s more substance to this abstract term.”
This is a way of life, and that means it’s going to look different for everyone. One person may fill their space with neutrals, while another brings in color. But both will keep the décor authentic to their sense of style and celebrate the natural world.
02 | Embrace Wear and Tear
Getty Images
“Wabi-sabi embraces wear and tear as a natural and organic process while being able to find beauty in it,” says Wong. Rather than stressing over a ding in your coffee table or tarnishing on metal items, celebrate them as a marker of a life well lived.
03 | Choose Organic Materials
Justin Chung for OWIU Design
Not all materials will develop a beautiful patina that echoes the wabi-sabi philosophy. Natural materials will age well over time, while synthetic materials are more likely to look tired. “Organic materials will age gracefully,” Wong says. “Wabi-sabi is about choosing organic materials like wood and shikkui plaster, which is a type of Japanese plaster that is made out of seaweed fibers. They’re natural and age really nicely.”
Wabi-sabi emphasizes welcoming the passage of time both in life and your home. Nothing is ever perfect or finished—it’s all a journey. “Allow for growth and evolution in your spaces. This sounds abstract but it simply means not to strive for perfection, but rather a high enough and realistic standard that at the same time still provides a level of comfort,” says Wong.
This means that even if your home isn’t your dream space today, you can still find beauty and comfort in it now.
05 | Invest in Quality
Justin Chung for OWIU Design
“Invest in nice pieces that you will have for life instead of buying one that serves as a means to an end. Higher quality items age with you. Of course, repair them when the time comes instead of replace,” says Wong.
These items encourage seeing the craftsmanship and beauty in them, while romanticizing the details. You can more fully immerse yourself in your surroundings when there are fewer, higher quality items.
06 | Tell Your Own Story
Getty Images
Not everything in a wabi-sabi space should be purchased or intentionally designed from the home. Part of wabi-sabi is bringing in elements from the natural world that tell your own story. These items should evoke the senses and bring back personal memories. “It can mean picking up rocks from random trips and using them as bookends or table centerpieces,” says Wong.
“Simplicity reigns supreme in wabi-sabi, with an emphasis on minimalism and uncluttered spaces that evoke tranquility and understated elegance,” says Lerner. Each item in your space should feel intentionally chosen. Nothing is there by chance.
08 | Choose Earth Tones
Haris Kenjar
While you should use the colors that speak to you, wabi-sabi traditionally incorporates neutrals that are found within the natural world. “The use of earthy, subdued colors and textures further enriches the serene and authentic ambiance,” says Lerner. “Embrace a subdued, earthy color scheme to evoke a connection to nature and foster a peaceful setting.”
“Seek furniture and decor featuring organic shapes and subtle flaws that celebrate each piece’s unique charm,” says Lerner. Furniture with rounded lines and soft edges evokes the curvy, organic silhouettes we see in nature, particularly when they are made from stone, wood, and other natural materials.
10 | Incorporate Homemade Items
Kaitlin Green; Design: Emily Henderson
Seeing the handprints of real people on items is another way to feel connected to the moment and time. “Integrate handmade goods and artisan crafts, bearing the artisan’s touch and narrative,” says Lerner. This forces you to pause and consider who made the item, what inspired them, and how humans are capable of creating beautifully imperfect art.
11 | Find Beauty in Age
Fabrice / Getty Images
Your home becomes an inviting, peaceful place to be when you embrace the elements of wabi-sabi that discourage seeing our physical world as something to be thrown away as it ages. “Embrace the passage of time in your living space,” Lerner says. “Welcome patina, signs of use, and the natural maturing of your possessions. By cherishing the beauty in imperfections and impermanence, craft a home that is cozy, welcoming, and profoundly intimate.”
Thanks!
Please fill out the form below and we will be contacting you shortly with information about your home.