Colorado Real Estate Market Update

 

The following analysis of the Metro Denver & Northern Colorado real estate market (which now includes Clear Creek, Gilpin, and Park Counties) is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent.

 

ECONOMIC OVERVIEW

The Colorado economy continues to grow, adding 69,100 new non-agricultural jobs over the past 12 months, which represents a solid growth rate of 2.6%. That said, we are continuing to see a modest slowdown in employment gains, but that is to be expected at this stage of the business cycle. My latest forecast suggests that Colorado will add a total of 65,000 new jobs in 2019, representing a growth rate of 2.3%.
 

In November, the state unemployment rate was 3.3%, up from 3% a year ago. The increase is essentially due to an increase in the labor force, which rose by 77,279 people. On an un-seasonally adjusted basis, unemployment rates in all the markets contained in this report dropped between November 2017 and November 2018. The highest rate was in Grand Junction, but that was still a very respectable 4%. Fort Collins and Boulder had the lowest unemployment rate of 2.9%. All the regions contained in this report are essentially at full employment.

 

HOME SALES ACTIVITY

  • In the fourth quarter of 2018, 12,911 homes sold — a drop of 13.8% compared to the last quarter of 2017 and down 22% from the third quarter.​
     
  • The only market that saw growth in sales was Clear Creek, which rose by 3.8%. This is a small market, however, and is prone to rapid swings in price as well as sales. There was a significant drop in sales in the Denver market. I will be watching closely to see if this is an anomaly or a longer-term trend. At this time, I believe the former to be true.​
     
  • Interestingly, this decline in sales in Denver came as inventory levels rose by 37%. For now, I attribute this to seasonality and expect to see sales growth return in the spring.
     
  • Inventory growth continues to give buyers more choice, allowing them to be far more selective — and patient — before making an offer on a home. That said, well-positioned and well-priced homes are selling relatively quickly.

 

 

HOME PRICES

  • Despite the rapid rise in listings and slowing home sales, prices continue to trend higher, though the rate of growth is slowing. The average home price in the region rose 6% year-over-year to $454,903. Home prices were 2% higher than in the third quarter.

  • In all, the data was not very surprising. As with many markets across the country, affordability is starting to become an issue. However, the recent drop in interest rates likely stimulated buyers at the end of 2018 and I expect to see good price growth in the first quarter of 2019.

  • Appreciation was strongest in Park County, where prices rose 28.2%. We can attribute this rapid increase to it being a small market. Only Gilpin County saw a drop in average home price. Though this, too, is due to it being a very small market, making it more prone to significant swings.

  • As mentioned, affordability is becoming an issue in many Colorado markets and I anticipate that we will see some cooling in home price appreciation as we move through late 2019.

 

 

DAYS ON MARKET

  • The average number of days it took to sell a home in Colorado rose by one day compared to the final quarter of 2017.

  • The amount of time it took to sell a home dropped in four counties: Boulder, Larimer, Gilpin, and Park. The rest of the counties in this report saw days on market rise relatively modestly with the exception of the small Clear Creek market, which rose by 20 days.

  • In the fourth quarter of 2018, it took an average of 38 days to sell a home in the region, but it took less than a month to sell a home in five of the eleven counties contained in this report.

  • Housing demand is still there, but buyers appear to have taken a little breather. I anticipate, however, that the spring will bring more activity and rising sales.

 

 

CONCLUSIONS

The speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

For the fourth quarter of 2018, I continue the trend I started last summer and have moved the needle a little more in favor of buyers. I will be closely watching listing activity in the spring to see if we get any major bumps above the traditional increase because that may further slow home price growth — something that would-be buyers appear to be waiting for.

 

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governor's Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

Nevada Real Estate Market Update

 

The following analysis of the greater Las Vegas, Nevada real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent. 

 

ECONOMIC OVERVIEW

Job growth in the Las Vegas metropolitan area remains very strong. A total of 38,900 new jobs were added over the past 12 months, representing an impressive annual growth rate of 3.9%. For perspective, the U.S. as a whole is growing at around 1.7% or less than half the rate of Las Vegas.


As jobs are added to the local economy, the unemployment rate is trending lower. The seasonally adjusted rate is 4.5%, down from 5.1% a year ago, but it is still higher than the national average. As I mentioned in last quarter’s Gardner Report, this is attributable to the rapidly rising labor force, which has grown by over 38,000 in the past year.

 

HOME SALES ACTIVITY

  • A total of 7,439 homes were sold in the fourth quarter of 2018 — a drop of 11.8% over the same period a year ago and 18.7% lower than the third quarter of 2018. The area had been suffering from a significant lack of inventory but that started to rise in mid-2018. Buyers have more choice and less urgency, so they are taking their time, which is leading to lower sales.

  • Year over year, pending sales dropped 10.5% and were down 22% compared to the third quarter. This suggests that closings in the first quarter of 2019 will not be very robust.    

  • Sales rose very modestly in the Spring Valley area but dropped across the rest of the market areas covered by this report. The most substantial dip in sales was in the Aliante neighborhood, but this is a very small area and, therefore, prone to significant swings.

  • The Las Vegas market is experiencing the same increase in listing activity as a majority of U.S. markets. I don’t believe this is a cause for concern, but more choice will lead to a temporary slowing in sales as buyers take their time when choosing a new home.

 

 

HOME PRICES

  • Home prices in the area rose to an average of $307,068, an increase of 10.5% compared to the fourth quarter of 2017, and were a modest 0.9% higher than in the third quarter of 2018.

  • Home prices continue to rise in the Las Vegas market, but I believe we will start to see a slowdown as affordability issues appear and listing activity increases this spring.​

  • Prices in all sub-markets rose compared to the same quarter last year. The strongest growth was in the Queens Ridge sub-market, where prices were up a substantial 46%. Nine sub-markets saw double-digit price growth.​

  • Home values are likely to continue to increase but more choice, in concert with affordability constraints, will lead to a slowdown in the rate of price growth.

 

 

DAYS ON MARKET

  • The average time it took to sell a home in the region dropped two days compared to the fourth quarter of 2017.

  • Region-wide it took an average of 35 days to sell a home in the fourth quarter of 2018.

  • Days on market fell in four of the sub-markets compared to a year ago, while two remained static and nine rose.

  • The greatest drop in days on market was in Aliante, which fell by four days compared to the same quarter in 2017. The greatest increase in market time was in Queens Ridge and Spring Valley, which rose by nine days.

 

 

CONCLUSIONS                                                                                               

The speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors. 

Employment growth in Clark County continues to be very robust and we are likely to see tangible income growth, which can offset increasing home prices. Even though we are seeing signs that the housing market is trending toward balance, I believe Las Vegas will be one of the best performing areas in the Western United States for home price growth in 2019.

 

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governor's Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

Beautiful Inside & Out – Timber Interiors for a Timber Frame Home

Photo Credit: Hamill Creek

 

A home that exudes beauty from the inside and the outside is also a true reflection of its owner. Today, homes are not just mere living spaces that are filled up with furniture - every home has a character, design theme, and personality of its own, characterized largely by the material used to build it, the color scheme on the inside and outside, and also the accents and hues of every element that goes into it.

 

One such building material is Timber, which truly brings out the class and beauty in a home. Timber frame houses have many positive attributes to them and are rightfully becoming one of the most popular choices for home building material. Let's look at some of the pros of using timber for your home:

 

1. Look and feel

Timber is one of the classiest looking building materials, with a sleek finish and a light but sturdy build. Timber, being a natural material, also has a natural feel to it, of course without compromising on reliability. Timber both on the inside and the outside looks amazing and is also quite easy to work with in terms of designing and color palettes. Timber comes in a number of finishes and colors. You could go for a smooth and sleek finish it even a textured look for a more rustic feel. There's also distressed timber which gives a home a vintage and retro look and comes in a darker shade.
 

2. Heat and cold

Timber framing and construction allows you to enjoy the benefits of its insulating properties. Not just that, it also retains heat and maintains a conducive temperature and atmosphere inside the home. Timber is one of those materials that would sustain you in both hot and cold climatic conditions, and you wouldn't have to spend too much on HVAC solutions either.
 

3. Longevity and ease of use

Timber is surely one of the most durable materials for constructing a home, especially the new age timber frames which go through special treatment to make the material is stronger, more resistant and also durable. The best part is that timber is also such an easy and convenient material to work with. The build time for a timber frame home is significantly lesser than most other traditional materials. Erecting a timber frame home can be done with ease, and it also does not require any extensive concrete footings, hence the quickness of construction.
 

4. Versatility outdoors and indoors

There are umpteen options for you to choose from, where timber can be used to add-on to the beauty of your home both internally and externally. Outdoor kitchens, pergolas, gazebos, picnic shelters, covered decks, bridges and so much more can be done to the external area of your home.

 

 

For the interiors as well, timber can be used for frame accents, staircases, and beautiful railings, and complete timber frame kits and packages come with everything you'd need, including door, window, roof and wall enclosure systems that provide the support your timber frame home needs. Imagine a spacious timber frame home with an open, gourmet kitchen and a dramatic winding staircase? Or even floor to ceiling windows that allow ample natural light to encompass the home. All of this and more is very much possible with timber as the main material.

 

5. Space utilization

 

Want to make the most of every inch of space you have for your home? Timber framing is one of the best ways to do this! A timber frame floor plan is so flexible and dynamic, and you can add absolutely anything you want, as long as you include it into the final plan. Want to add an extra room? Opt for bigger doors and windows? Or maybe use the extra roof space to create a handy loft? All of this and more is quite easy to do with a timber frame home, and that's what makes your home uniquely yours in both design and functionality.
 

Bottom Line
 

Costs are usually a concern while building a new home or re-doing an existing one, but timber is one material that gives you total value for the money you spend. A regular brick and mortar home is expensive as is and doesn't provide you with any additional benefits. Timber, on the other hand, gives you all the above-mentioned benefits and more, so in terms of cost to value ratio, is a much smarter and more sensible option to go for. So, to create a uniform look and feel both inside and outside, timber is the ideal material to bring out the true beauty of your abode!

 

Our Guest Author is Tyler of Hamill Creek Timber Homes.

Southern California Real Estate Market Update

 

The following analysis of the Southern California real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent. 

 

ECONOMIC OVERVIEW

The counties covered by this report — Los Angeles, San Diego, San Bernardino, Orange, and Riverside — added 139,000 new jobs between November 2017 and November 2018, representing an annual growth rate of 1.4%. The unemployment rate held at 4%. Employment growth in Southern California continues to slow but, as I discussed in the third quarter Gardner Report, the market is heavily affected by the substantial Los Angeles County market, which is seeing significantly slower employment growth. My 2019 forecast for employment in Southern California is for growth to continue at around 1.5%.

 

HOME SALES ACTIVITY

  • There were 39,655 home sales in the final quarter of 2018. This was a drop of 13.5% from the same period in 2017 and 16.2% lower than the third quarter of this year.
  • Pending home sales (an indicator of future closings) were 8.8% lower than during the same period a year ago, and down 21.6% compared to the third quarter of 2018. This suggests that total sales in the first quarter of 2019 are likely to also be down.
  • Home sales dropped across the board, but the most noticeable decline was again seen in San Diego County, which fell by 15.4%. I am still attributing this to the significant rise in inventory (+51.7%) as well as high average home prices. Interestingly, however, price growth in the San Diego area remains robust.
  • There was an average of 41,199 active listings in the fourth quarter — up 38.2% from a year ago.
     

 

HOME PRICES

  • Year-over-year average prices in the region rose 4.1%, but they were 2% lower than in the third quarter of 2018.
  • Affordability remains an issue in most of the Southern Californian counties contained in this report, which, in concert with growing inventory, continues to limit home price growth.
  • Price growth was varied, with San Diego County showing the greatest annual appreciation (+7.3%). The slowest appreciation was in Orange County, which saw prices rise only 2.5%.
  • Home prices will continue to rise in 2019, but the rate of growth will continue to taper as the economy slows and income growth remains muted.

 

 

DAYS ON MARKET

  • The average time it took to sell a home in the region was 46 days. This is a three-day increase compared to the fourth quarter of 2017, and seven days more than in the third quarter of 2018.
  • No market saw the time it took to sell a house drop compared to the fourth quarter of 2017. It also took more time to sell a home in the fourth quarter than it did in the third.
  • Homes in San Diego County continue to sell at a faster rate than other markets in the region. In the fourth quarter, it took an average of 35 days to sell a home, five days more than it took a year ago.
  • Market time is increasing, which may concern some; however, it is simply a move back to normal averages.
     

 

CONCLUSIONS                                                                                               

The speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors.

The Southern California economy continues to slow and the number of homes for sale is rising. This combination will lead to slower price appreciation, but I do not see it as anything to worry too much about. We are simply trending back to a “normal” housing market. Given these factors, I have moved the needle a little further toward buyers.

 

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governor's Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the University of Washington where he also lectures in real estate economics.

Western Washington Real Estate Market Update

 

The following analysis of the Western Washington real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere Agent. 

 

ECONOMIC OVERVIEW

The Washington State economy continues to add jobs at an above-average rate, though the pace of growth is starting to slow as the business cycle matures. Over the past 12 months, the state added 96,600 new jobs, representing an annual growth rate of 2.9% — well above the national rate of 1.7%. Private sector employment gains continue to be quite strong, increasing at an annual rate of 3.6%. Public sector employment was down 0.3%. The strongest growth sectors were Real Estate Brokerage and Leasing (+11.4%), Employment Services (+10.3%), and Residential Construction (+10.2%). During fourth quarter, the state’s unemployment rate was 4.3%, down from 4.7% a year ago.

                    

My latest economic forecast suggests that statewide job growth in 2019 will still be positive but is expected to slow. We should see an additional 83,480 new jobs, which would be a year-over-year increase of 2.4%.

 

HOME SALES ACTIVITY

  • There were 17,353 home sales during the fourth quarter of 2018. Year-over-year sales growth started to slow in the third quarter and this trend continued through the end of the year. Sales were down 16% compared to the fourth quarter of 2017.​
  • The slowdown in home sales was mainly a function of increasing listing activity, which was up 38.8% compared to the fourth quarter of 2017 (continuing a trend that started earlier in the year). Almost all of the increases in listings were in King and Snohomish Counties. There were more modest increases in Pierce, Thurston, Kitsap, Skagit, and Island Counties. Listing activity was down across the balance of the region.
  • Only two counties—Mason and Lewis—saw sales rise compared to the fourth quarter of 2017, with the balance of the region seeing lower levels of sales activity.​
  • We saw the traditional drop in listings in the fourth quarter compared to the third quarter, but I fully anticipate that we will see another jump in listings when the spring market hits. The big question will be to what degree listings will rise.

 

 

HOME PRICES

  • With greater choice, home price growth in Western Washington continued to slow in fourth quarter, with a year-over-year increase of 5% to $486,667. Notably, prices were down 3.3% compared to the third quarter of 2018.

  • Home prices, although higher than a year ago, continue to slow. As mentioned earlier, we have seen significant increases in inventory and this will slow down price gains. I maintain my belief that this is a good thing, as the pace at which home prices were rising was unsustainable.

  • When compared to the same period a year ago, price growth was strongest in Skagit County, where home prices were up 13.7%. Three other counties experienced double-digit price increases.

  • Price growth has been moderating for the past two quarters and I believe that we have reached a price ceiling in many markets. I would not be surprised to see further drops in prices across the region in the first half of 2019, but they should start to resume their upward trend in the second half of the year.

 

 

DAYS ON MARKET

  • The average number of days it took to sell a home dropped three days compared to the same quarter of 2017.

  • Thurston County joined King County as the tightest markets in Western Washington, with homes taking an average of 35 days to sell. There were eight counties that saw the length of time it took to sell a home drop compared to the same period a year ago. Market time rose in five counties and was unchanged in two.

  • Across the entire region, it took an average of 51 days to sell a home in the fourth quarter of 2018. This is down from 54 days in the fourth quarter of 2017 but up by 12 days when compared to the third quarter of 2018.

  • I suggested in the third quarter Gardner Report that we should be prepared for days on market to increase, and that has proven to be accurate. I expect this trend will continue, but this is typical of a regional market that is moving back to becoming balanced.​

 

 

CONCLUSIONS

This speedometer reflects the state of the region’s real estate market using housing inventory, price gains, home sales, interest rates, and larger economic factors. I am continuing to move the needle toward buyers as price growth moderates and listing inventory continues to rise.

2019 will be the year that we get closer to having a more balanced housing market. Buyer and seller psychology will continue to be significant factors as home sellers remain optimistic about the value of their home, while buyers feel significantly less pressure to buy. Look for the first half of 2019 to be fairly slow as buyers sit on the sidelines waiting for price stability, but then I do expect to see a more buoyant second half of the year.

 

As Chief Economist for Windermere Real Estate, Matthew Gardner is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew has over 30 years of professional experience both in the U.S. and U.K.

In addition to his day-to-day responsibilities, Matthew sits on the Washington State Governors Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research at the University of Washington; and is an Advisory Board Member at the Runstad Center for Real Estate Studies at the Unversity of Washington where he also lectures in real estate economics.

Windermere Foundation Surpasses $38 Million In Total Donations Raised

 

2018 concluded with another great year of fundraising and giving for the Windermere Foundation, thanks to the continued support of Windermere franchise owners, agents, staff, and the community. Nearly $2.5 million was raised in 2018, bringing our grand total to over $38 million raised since the Foundation’s inception in 1989! During the past year, nearly $1.9 million was donated to non-profit organizations throughout the Western U.S. that provide much-needed services to low-income and homeless families. In 2018, the Windermere Foundation fulfilled 689 grant requests and served 507 non-profit organizations.

 

A portion of the money raised every year is due in part to our agents who each make a donation to the Windermere Foundation from every commission they earn. Additional donations from Windermere agents, the community, and fundraisers made up 68% of the money collected in 2018. Each Windermere office has their own Foundation funds, which enable them to support local non-profits in their communities.

 

One organization that received Windermere Foundation donations from several Windermere Real Estate offices in the Seattle area is Treehouse. Treehouse’s mission is to give foster kids a childhood and a future. Their goal that they have set to achieve by 2022, is to see youth in foster care graduate from high school at the same rate as their peers across Washington State. And to provide them with support and a plan to launch successfully into adulthood. Donations from the Windermere Foundation have helped Treehouse clients like Ashley, get the support she needed to turn her life around.

 

“I didn’t have a childhood that all kids should have--like making friends my age or playing sports. I changed the path that I was on because I wanted to give people a reason to believe in me. You have to want to change and speak your truth, but you can’t do it without people believing in you. You can get through the darkest situations, you just gotta look for a little crack of light. Treehouse is that crack of light for me,” ~Ashley

 

2018 also marked the third year of our #tacklehomelessness campaign with the Seattle Seahawks, in which Windermere committed to donating $100 for every Seahawks home game defensive tackle to YouthCare, a non-profit organization that provides critical services to homeless youth. While the Seahawks didn’t make it past the first round of the playoffs, they did help us raise $31,900. When added to previous seasons, the total donation for the past three years is $98,700! We are grateful for the opportunity to provide additional support to homeless youth thanks to the Seahawks, YouthCare, and the #tacklehomelessnesscampaign.

 

 

 

Thanks to our agents, offices, and everyone who supports the Windermere Foundation, we have been able to make a difference in the lives of many families in our local communities over the past 30 years. If you’d like to help support programs in your community, please click the Donate button.

 

To learn more about the Windermere Foundation, visit http://www.windermere.com/foundation

 

8 Ways to Make the Most of the Home You Have

"Staying Put" by architect and writer Duo Dickinson is not your typical architect's book about design. There's no obscure language nor design-for-design's-sake ideas. It is a practical, down-to-earth guide that walks anyone through the rational process of how to remodel your house to get the home you want, from how to think about your house and overcoming hurdles to a list of "Duo's Do's and Don'ts" for the homeowner. Along the way, there's plenty of nice before-and-after photos to help explain the points. Do read the book. You'll be glad you did.

Read on for eight of Dickinson's brightest suggestions:

 

Consider the compass points. The tips and illustrated examples are wonderfully straightforward. For example, we see a house that gets overheated, the siding degrades and the front door bakes in the sun because it all faces south.

Dickinson's common-sense advice: Rework the front of the house with a new wide porch that shades the front door and some smaller, yet well-sized windows to create a lot more curb appeal while reducing maintenance and energy consumption. It's a triple win: more beauty and comfort with less cost.

Avoid gutters. Statements such as "gutters and leaders are devout to be avoided" may sound like heresy to many, but certainly are the truth. Proving his point, Dickinson illustrates how a properly-built roof overhang can shed all the water it must without the complications, such as ice dams, caused by gutters.

Embrace small moves. Dickinson provides a wealth of simple solutions illustrated with before-and-after photos. He shows how to use small moves for big dividends, such as taking out a wall between a kitchen and a hallway to make room for more kitchen storage.

Enhance curb appeal. The book offers solutions to common problems with a particular style, such as how to improve and enhance an entrance into a split-level home.

Open up to the outside. Dickinson provides some excellent examples of how we can use modern windows and doors to strengthen the connection between inside and outside. Our homes, says Dickinson, no longer need be "later-day caves."

Find your home. Learning more about the style of the house you have will help you avoid obstacles in remodeling and recognize the best opportunities for improving your particular home.

Open up the inside. Snippets of advice sprinkled throughout the book are like refreshing raindrops that clear the cobwebs away. One such snippet: "If you walk through a room to get to a room, something is wrong." You know — it's when that new great room gets added onto a modest house, and the result is some kind of dyslexic creature that's really two houses rather than one.

So rather than even building an addition, Dickinson suggests you make the most of what you already have. In this example, widening the opening between rooms strengthens this room's connection with the rest of the home, increasing its utility and spaciousness.

Work with what you've got (before): Keeping the kitchen size the same while vaulting the ceiling dramatically increases the overall spaciousness of the room, as you'll see in the next photo.

Work with what you've got (after): Walls, doors, appliances, and even the skylight and kitchen sink were all left where they were. This all avoided costly plumbing, electrical and mechanical work and rework.

Working with what you've got (plans): Dickinson has included before-and-after floor plans for many of the examples. These plans help provide that much more context, allowing the reader to better understand what they may be able to do with the home they already have.

By Bud Dietrich AIA

Tips for Moving Into a Smaller Home as a Senior

By Michael Longsdon

For many seniors, there comes a time when the expense and upkeep of a big home no longer seem realistic. All of your kids have moved out, and suddenly, your multi-bedroom house feels excessively large and empty. Plus, it may be difficult to keep up with mortgage payments if you're expecting a lower income during retirement. Whether downsizing is a financial necessity or an emotional decision, here’s how to tackle the process without getting overwhelmed.

Do Online Research

Before you start looking at houses in person, narrow down your options by doing some research online. Search the local housing market on sites such as Redfin to get a feel for house prices in your desired area. For example, homes in Seattle, Washington have sold for an average of $685,000during the past month. Explore listings in your preferred size range and location so you can come up with a realistic budget for your new home.

Think far ahead as you look at homes, considering the possibility that the needs of you and your spouse may change over time. One-story homes can be much more accessible for you and your friends down the line. You should also take time to research the neighborhood and pay attention to the house’s proximity to grocery stores, leisure centers, and public transportation.

Plan for Your Storage Needs

If you’re moving to an apartment or condo, you may not have the attic, basement, or even the closet space that you’re used to. Look for a nearby for an affordable self-storage unit so you aren't left crowding boxes and furniture into your new home. Some simple online research can help you find the best deals in your area. In the last 180 days, for instance, self-storage units in Seattle, Washington cost an average of $88.45 per month

Go Through Your Possessions Methodically

One of the hardest parts about downsizing is getting rid of things you’ve had for decades. Apartment Guide recommends looking at pictures of clutter-free rooms in magazines for inspiration before starting your own purge. This will mentally prepare you for getting rid of all the stuff you don’t need cluttering up your new, smaller space.

As you declutter, go room by room and sort items into no more than five piles: keep, donate, sell, gift, and throw away. Don’t be afraid to let go of things that are useful but not particularly necessary in your own life. Likewise, don’t keep things out of obligation or feelings of guilt. While you’re cutting the clutter, keep a floor plan of your new home nearby so you can plan out your rooms and ensure your furniture will fit. If you’re worried about accurately measuring your space, you can hire a professional to help you out.

Pack Like a Pro

Protect your items during your move and make them easier to unpack later by trying out some expert packing tips. For example, socks make great padding for glasses and mugs, while oven mitts are perfect for transporting knives a little more safely. Secure entire desk drawers and kitchen storage trays with plastic wrap for much faster unpacking later. Also, keep your clothing on hangers and simply slip a garbage bag over them for protection. Remember to pack an essentials box of everything you need during your first day and night in your new house.

Follow a Moving Checklist

There is a lot to remember to do before moving day. For example, you need to update your mailing address with the post office, find a new doctor, and transfer your utilities. Follow a moving checklist (or hire a senior move manager for around $316 per day) to avoid forgetting important tasks. One of your moving tasks should involve researching moving companies at least two months before your move. This gives you plenty of time to find the help you need within your budget. Learn about how to spot rogue moving companies so you can avoid being scammed, especially if you’re moving long distance.

Moving is exhausting for anyone. But moving into a smaller home can be especially emotional as you say goodbye to personal objects that have surrounded you for much of your life. For this reason, it’s important to take things slow while you sort through your possessions and search for the perfect place to spend your golden years.

 

Mr. Longsdon provides advice to seniors on downsizing and aging in place and can discuss concerns like tackling home accessibility modifications, how to find a great contractor, the benefits of aging in place, and more.​

10 Steps to Get Your Home Clean and Ready for Spring

Warmer months are ahead, so now is the time to plan for spring cleaning and maintenance. A clean home offers a fresh start for the year, and a checklist of tasks guides your efforts towards efficiency. For many homeowners, spring cleaning can be a personal challenge. It can also be one accomplished with the help of the rest of the family or other residents. In some occasions, however, professional assistance may be advised, or even necessary. Regardless, regular home maintenance not only increases your home's value, but it can also make your home more comfortable and enjoyable. 

Indoors

Check Your Attic

Once summer arrives, it can be too hot in many regions to comfortably perform an inspection. Use late winter and early spring to ensure the following: there's ample insulation (10 to 14 inches), there are no signs of mice or rats (droppings, strong odor, nests), there are no bugs (flying, crawling, or otherwise), and there are no signs of roof leaks (water stains, etc.).

Schedule HVAC Maintenance

Annual tune-ups on your heating/cooling equipment will reduce your energy bill and help ensure you can maintain a comfortable indoor temperature.

Fix the Window Screens

It won't be long before you'll want to throw open the windows for fresh air, or relief on a warm afternoon. Take time now to ensure your window screens are ready for the challenge. Many traditional neighborhood hardware stores still offer re-screening services. Contractors also specialize in this service and are available for house calls.

Clean the Ceiling Fans

During the warm weather and the cold, ceiling fans can help moderate the temperature and better distribute the air. But your fans will be far more efficient if you give them a good cleaning a couple times each year. For fans mounted up to 10 feet in the air, you can use a ladder to access the tops of the fan blades. For those mounted on vaulted ceilings, use a long-handled duster. 

Apply Weather Stripping

Many homeowners think of weather stripping as a cold-weather commodity, but it's just as important during summer. To keep the cool air in and the hot air out, use any of the many filler materials available to seal gaps around windows, doors, exhaust fans, and any other point where you can see light peeking through. 

Outdoors

Look for Damaged Roof Shingles

Use binoculars (with your feet safely planted on the ground) to scan for roof shingles that are curling, broken, or missing. If anything seems compromised, have a roofing company perform an inspection and provide a bid. If you or any members of your family are enterprising drone users, a camera-affixed drone can also be a useful aid in this reconnaissance effort. 

Wash the Exterior

An easy way to extend the life of your exterior paint - and make your house look better than ever - is to give the siding a good washing. Use mostly water (to avoid harming any plants) and a stiff pole brush.

Search Out Rotten Wood

While you're washing the exterior, keep an eye out for areas where there may be rot. Use a screwdriver to gently but firmly press on any siding or trim where you see black mold, missing paint, or exposed gray wood. If the area you're probing feels mushy or bone-dry, contact a contractor to assess and stabilize the situation.

Clean the Gutters

All it takes is a handful of leaves to clog a gutter downspout and cause overflow and flooding. Hire a professional to give the gutters a thorough cleaning and you'll avoid the very real dangers of working from a ladder. If you live in an area with lots of trees, consider getting quotes for some of the leaf-less gutter systems.

Prepare Your Lawn to Grow

The winter sets impediments for your lawn, and it takes preparation to help it shine. Rake away any dead grass and aerate the whole lawn to allow nutrients to access the roots. Reseed bare spots and apply a spring fertilizer to ensure your lawn has the fuel it needs to grow strong and beautiful.

Five Ways to Incorporate Pantone’s ‘Living Coral’ Into Your Home

Photo Credit: Pantone Color Institute

Design inspiration comes in many forms, but few carry the cache of the Pantone Color of the Year. For two decades, the Pantone Color Institute has convened to debate and determine an appropriate color that represents the current times. In a tradition harkening to the pageantry and mystique of secret societies, biannual meetings are held in private by color and design experts to determine the appropriate shade for the upcoming year. Through this deliberation, we have been delivered our next design baseline: the 2019 Pantone Color of the Year is Living Coral.

Living Coral is a mesmerizing pinkish hue with a light base that makes it a spectacular pairing with a variety of other options. Evoking the way natural coral often forms a basis for entire, vibrant ecosystems, Living Coral seeks to be eye-catching, while simultaneously drawing attention to what surrounds it. So how can Living Coral be best incorporated into your home this year? We have a few ideas.

 

Accent Furniture

Photo Credit: Fresh Idees on Pinterest

It can be overwhelming to dive headlong into an entire stylistic renovation. Even a single feature, like a Living Coral colored chair or settee can brighten a space. 

 

Entryway and Living Room Walls

Photo Credit: France and Son on Pinterest

Make a bold first impression by inviting guests into a space that is framed by Living Coral walls on every side.

 

Subtle Accessories

Photo Credit: HoneyComb Studio on Pinterest

Any room can be brightened by a touch of Living Coral. From coral curtains to stylish gilded vases and accent pillows, there are numerous ways, great and small, to sprinkle this seaside shade throughout your home.

 

Accent Wall

Photo Credit: Krista4Coral on Instagram

One of our favorite interior design trends pairs perfectly with Pantone’s 2019 selection. Coating one wall with Living Coral is a great way to accent a space without committing to painting an entire room. 

 

Brightened Door

Photo Credit: DesignStudio039 on Instagram

Whether gracing your front door or a unique space in your home, Living Coral inspires an optimistic feeling for what lies beyond. 

Do you plan to incorporate Living Coral into your home this year? We’d love to hear about it!