That’s so 2018! Design trends to ditch this year.

With only a couple weeks left in the first month of the year, there is no better time to ditch some of those 2018 home trends. While certain statement pieces will last through the seasons, the round-up below are so last year! So read below and start off fresh in 2019!!

1. Gallery walls

Photo by Tim Barber Ltd Architecture 

It’s time to cool it with nailing 20-piece photo collages onto our walls. Instead, make a bigger splash with one large piece that leaves an impression.

“I love family photos, but the stark black or blond wood frames—thank you, Ikea!—that we’ve put up on the wall are a little, well, not trending,” says Los Angeles home designer Kim Gordon.

A wall full of little frames, Gordon says, fails to make a statement and ends up being overlooked and ignored. Plus, those frames will just accumulate dust and fingerprints.

In the new year, Gordon says the tedious clutter will give way to “big, potentially colorful, and absolutely impactful” art that wows—think charcoal sketches or watercolors—“anything to relieve some of the monotony.”

2. Industrial kitchens

Photo by PowerSmith Design 

Three years later, and we’re still ringing the closing bell on this exhausted look. It seems old habits (and Edison bulbs) die hard.

So, we’ll say it again for the people in the back: Industrial chic is played out. It’s time to flip the switch on cage lighting and aggressively exposed pipes and beams.

“More often than not, [this look] fails and lacks the authenticity the designer is ardently trying to create,” says David Shove-Brown of Washington, DC–based architecture and design firm //3877.

Industrial kitchens are “not the most inviting place to be the heart of your home—more like living in a Costco,” O’Neill adds. “So, unless you are a professional chef, let’s retire this trend.”

Make the swap for lush, opulent hues in the kitchen—deep (almost black) greens and blues, and dark woodwork—and lean on matte metallics for contrast, recommends Debbie Schamberger of Elite Kitchen & Bath.

“Gold is strong for hardware, faucets, and lighting fixtures—a soft gold, like Champagne,” she says.

3. Boho accessories

Photo by We Are In Our Element 

We can already hear the boos and hisses on this one, but Portland, OR, designer Justin Riordan isn’t having it.

“Boho has to die,” he says. “It’s totally flippin’ over.”

You know what we’re talking about: The macrame wall hangings, the waxy-fake succulents (“You’re not fooling anybody,” Riordan says), and your Moroccan lanterns all had a good run, but it’s time to rein it in.

“You can, of course, continue to buy $19 batik pillows at Target, but stuff like that is just fodder for your next garage sale,” Riordan says. “It comes on really fast and goes away really fast.”

If you just can’t tear yourself away from that gypsy-soul-world-citizen vibe, Riordan suggests channeling those feelings into an authentic piece that reflects a real ethnic tradition—say, a kilim rug—and building the room around that.

4. Word art

Photo by Bach Homes 

We know—we can’t believe it either, but the word art trend is still happening. In 2019, however, the pros are determined to make it finally stop. Even if you can live, laugh, and love with the best of them, those words don’t belong on your walls.

“Any text art hung in the home meant to be positive just comes across as cheesy and predictable,” says Jessica Boudreaux, an interior designer in Miami and New York City. “Stuart Smalley called, and he wants his signage back.”

Ana Cummings of Ana Interiors agrees: “It’s about as hokey as you can get.”

5. Kitchen islands

Photo by Havlicek Builders Inc. 

But isn’t the island sort of ultimate #kitchengoals? Diana Blaszkiewicz, an associate with TTR Sotheby’s International Realty in Washington, DC, doesn’t think so. Her clients increasingly want to ditch the kitchen island, and she’s happy to oblige.

“They’re bulky and often don’t provide adequate storage space; plus, they’re very easy to bump into in the middle of the night,” she says.

In lieu of an island, situate the dining table closer to the kitchen, Blaszkiewicz recommends, or use modular, moveable storage instead.

6. Gray everything

Photo by Creative House Zone 

Will 2019 be the year we do away with gray?

“From walls to napkins, from Florida to Maine, it has been all about gray for so long now, I can hardly remember when it snuck in,” O’Neill laments.

“Because we’ve concentrated on cool grays for so long, it just feels dated at this point,” Riordan adds. “Everything I see in that palette just feels really cold to me.”

Plus, gray has become the go-to neutral for home staging—and that means this hue often “screams ‘newly flipped,’” Blaszkiewicz notes.

That doesn’t mean neutrals are out, but designers are ready for a shift to warmer tones, like sandy taupes.

7. Over-the-stove microwaves

Photo by Mabry Construction, Inc. 

Certain residential features are the brainchildren of home builders—notinterior designers. Such is the story of microwaves situated above cooktops.

“It was never a good design choice,” Cummings says. “Microwaves are so ugly, to put it bluntly.”

The microwave-over-the-range setup is not even functional, says Doug Lewis, a kitchen and bath remodeler in Richmond, VA. The combo’s popularity is driven entirely by the need to economize space—and it sacrifices the ventilation capabilities of a full-size hood vent (as opposed to the scrawny item built into the bottom of over-range microwaves).

“With those, you’re maybe getting 25% venting function,” Lewis says. “Plus, it’s just an awkward height for younger or shorter people to use. Ever tried to reach over your head to get hot soup out of the microwave? Not good.”

So what’s a space-starved homeowner to do? Undercounter microwaves are gaining popularity, Lewis says, and a growing number of cabinet manufacturers offer designs that accommodate them. You can also mount your microwave under upper cabinets while still preserving that precious counter space.

8. Microfiber upholstery

Photo by LuxWest Interiors 

For years now, microfiber has been the hero of home furniture—an affordable and practical choice for its durability. So durable, in fact, that this vaguely suede-like fabric is ready for a rest.

Why? Most microfiber furniture can make the overall design of a room appear dated and cheap, says Beverly Hills, CA–based designer Kita Williams. And while it’s not impossible to find a microfiber piece in a modern shape, aren’t you ready to try something new?

“Err on the side of caution, and stay away from microfiber,” Williams says. “Stick with linen, leather, pleather, tweed, and canvas-type fabrics.”

Courtesy of: Realtor.com

New Year’s Resolutions for your Home

1: Streamline the stuff

One of the best and least expensive ways to feel better about your home is to clear it of clutter.

Each year most of us acquire a mountain of stuff. Without some regular purging, cabinets and drawers get jam-packed and it becomes hard to find the things you use and enjoy the most. (All that clutter also makes your house look dated and dirty, designers say.)

This year resolve to go room-by-room periodically clearing anything that you don’t use, wear or love and donate it to charity. After that, think twice about what you bring in, says Antoinette Nue, an Atlanta consultant who specializes in helping people simplify and go green.

“Fill your home with the things that raise your energy level and make you feel good, and get rid of the things that drain your energy or are broken,” she says.

Stash useful (but not beautiful) items such as DVDs, remotes and those kicked-off shoes in simple woven baskets. Group similar items together on sleek trays, says Stuart McCormick, a designer with Liz Levin Interiors in Washington D.C.

Clear your counters of everything you don’t use on a daily basis. And get ready to breathe a little easier in your own home. 

2: Make it safe and sound

Your home may be beautiful, but is it safe?

First, check your house for radon. This colorless, odorless gas causes about 21,000 lung cancer deaths each year from the radioactive particles it traps in your lungs as you breathe, according to the U.S. Environmental Protection Agency. One in every fifteen homes has elevated levels. And with test kits costing as little as $20 at your local hardware store, there’s no reason not to get right on that.

While we’re on the subject of deadly gas, make sure you install a carbon monoxide detector on every bedroom floor in addition to fire detectors. If a chimney flue or furnace vent gets blocked or leaks, carbon monoxide could back up in your house and kill you. Like a radon test, this is a small investment — $40 or more — for such an important safeguard.

Watch out for dryer lint. We know you clean the little trap inside the door, but most people neglect to clean the vents and ducts behind the dryer. Lint may seem innocent, but it’s highly combustible, according to the U.S. Fire Administration, accounting for more than 15,000 building fires a year.

Make sure your house can breathe. Many people’s bathrooms and attics aren’t vented to the outside (or the vents are covered over with shingles.) This makes you a prime candidate for mold.

And if you’re considering a remodel — and your home was last built or remodeled before 1978 — consider testing for lead paint and asbestos flooring. It will have to handled properly during removal, or particles can be released into the air for you to ingest.

3: Shrink your bills (and your carbon footprint in the process)

When people think of going green, they often think it takes solar panels to make a difference.

Not so, says Bob Schildgen, who wrote the “Hey Mr. Green” column for Sierra magazine. It just takes a little old-fashioned common sense.

The best place to start is by cutting your energy usage in your home:

– Remember your mom’s advice and switch off the lights when you leave a room.

– Turn off your air conditioner when you leave the house and dial your heater down to 55 degrees at night.

– Install LED bulbs and low-flow showerheads.

– Turn off your power strips and/or set your home computer to revert to sleep mode when not in use.

– Water your yard less. Put in drought-tolerant landscaping if necessary.

– Give composting a try. Your garden will thank you.

4: Work out a weekly system for keeping your house clean

Here are a few tips for keeping the mess under control from Jeff Campbell. He is the author of the book Speed Cleaning and owner of the Clean Team housekeeping service in San Francisco.

Daily: Dishes go in the dishwasher every night – no excuses! Dirty clothes go in the hamper and jackets or clean clothes are hung in the closet. Bring everything back to its assigned place.

Weekly: Clean your entire house, using these tips:

– Keep all of your cleaners in a portable carryall that moves with you from room to room.

– Focus on one type of cleaning at a time. It’s faster, Campbell says. Wipe down fingerprints on all of the cabinets, for instance, before moving on to spraying and wiping counters. Then move on to windows and mirrors and appliances. Once that’s done move on to sweeping and then mopping floors.

– For optimum efficiency, enlist the help of your family. If you can, divide the jobs among at least three parties. One of you can do the dusting/vacuuming and changing beds. The other can do the bathroom cleanup, leaving only the kitchen and trash emptying for you to handle. The upside? You can get the whole house done in 45 minutes, Campbell says. Leaving more time on the weekends for the park or the movies.

5: Get your place ready for entertaining

Each year most of us vow to spend more time with family and friends. To make you feel like inviting people in, why not give the areas you entertain in a little update?

You don’t have go for broke here and invest in a new kitchen remodel. All it takes to get a fresh new look is a little bit of rearranging and a few updates, says designer McCormick.

One easy update that makes your home seem more “finished” is the addition of plants, she says.

“They bring in new energy and help clean the air,” she says. “And it’s a great way to decorate if you’re on a budget.”

Pulling out a new accent color from your existing decor can make the whole room seem fresh. Pick an underused color in the room and add more of it in the form of a new pillow or throw to update your look, McCormick advises. A colorful rug or runner can also help anchor your space.

Lastly, take some time to rearrange your furniture so it is oriented in conversation groups and not just facing the television. That just might up for chances for real conversation and connection in the New Year.

Courtesy of HGTV

Economic update for the week ending October 27, 2018

Stocks suffer a turbulent week:

A positive GDP report showing that the economy grew at 3.5% in the third quarter, inflation was tame, and consumer spending was up, could not keep the markets from continuing to slide. This week. third quarter profits were reported that were below expectations. Those were mostly in the technology sector. Even Amazon did not hit their numbers. On the other hand, some companies like Ford and Tesla exceeded expectations. All in all, fears in the technology sector hit the NASDAQ hard. It lost 3.8% for the week and is now up just  3.8% for the year after being up 20% for the year just one month ago. The Dow and S&P also got hit hard down 3% and 3.9% respectively for the week. The Dow Jones Industrial Average closed the week at 24,688.31, down from 25,444.34 last week. It is down 0.1% year-to-date.  The S&P 500 closed the week at 2,658.69, down from 2,767.78 last week.  It’s down 0.6% year-to-date. The NASDAQ closed the week at 7,167.21, down from 7,449.03 last week.  It’s up 3.8% year-to-date.

Treasury Bond Yields lower this week:

The 10-year Treasury bond closed the week yielding 3.08%, down from 3.20% last week. The 30-year Treasury bond yield ended the week at 3.32%, down from 3.38% last week. We watch treasury bond yields because mortgage rates follow bond yields.

Mortgage rates almost unchanged this week:

The October 25, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.86%, almost unchanged from 4.85% last week. The 15-year fixed was 4.29%, slightly up from 4.26% last week. The 5-year ARM was 4.14%, up from 4.10% last week.

GDP up 3.5% in third quarter:

The U.S. Bureau of Economic Analysis announced that the first reading of the nation’s gross domestic product (GDP) rose by 3.5% in the third quarter of 2018.  That beat expectations of a 3.4% rise, but was well below the 4.2% increase registered in the second quarter of 2018. The report also said that The PCE price index, a key indicator of inflation, rose at a 1.6% annual rate in the quarter. That was well below the 2.2% annual increase analysts forecasted. Consumer spending, which accounts for about two thirds of the U.S. economy, grew by 4% in the third quarter. That marked the largest increase since the fourth quarter of 2014.

September Nationwide Existing Home Sales:

Data released this week from The National Association of Realtors showed that total existing home sales fell again in September. The number of existing homes sold in September fell 3.4% from August, and are down  4.1%  from one year ago. The median price paid for a home in the U.S. was up 4.2% from last September. That marked the 79th straight month of year over increases. The unsold inventory index is at a 4.4 month supply, up slightly from a 4.2 month supply one year ago. 

September California Existing Home Sales:

The California Association of Realtors reported that existing single family home sales totaled 382,550 in September on a seasonally adjusted annualized rate. That was down 4.3% from August and down a staggering 12.4% from last September, when sales totaled 436,920 on a seasonally adjusted annualized rate. The median price paid for a home in California was $587,850, up 4.2% from September 2017. On a more regional level, the median price increased 4.7% in Los Angeles County, 10.6% in Ventura County, and 3.3% in Orange County from one year ago. Inventory levels continued to rise after hitting historic lows in 2017. The unsold inventory index in California stood at a 4.2 month supply in September, up from a 3.3 month supply in September 2017. Inventory levels have now increased for 6 straight months and are up 20.4% from one year ago. Listings are at the highest level in 31 months. Los Angeles County has a 4.4 month supply, up from a 3.1 month supply last September. Orange County has a 4.3 month supply,  up from 3.1 months last September. Ventura County had a 6.3 month supply of homes, up from a 4.7 month supply one year ago. 

Have a great weekend!
Syd

Economic update for the month ending September 30, 2018

Economic update for the month ending September 30, 2018

U.S. Economy adds 134,000 new jobs in September – Unemployment rate dropped to the lowest level since 1969:

U.S. Department of Labor
U.S. Department of Labor

The Department of Labor Statistics reported that U. S. employers added 134,000 new jobs in September. That was below the 185,000 that analysts had estimated, yet even though job creation fell to its lowest level in a year the unemployment rate dropped to its lowest level in 49 years. The national unemployment rate in September was 3.7%, down from 3.9% in August. Average hourly wages rose 2.8% year over year from last September. That was slightly lower than last month when average hourly wages increased 2.9% from last August.

California employers add 44,800 new jobs in August:

The California Employment Development Department reported that 44,800 new jobs were added in August. The unemployment rate held steady at a record low of 4.2%, down from 4.6% last August. Average hourly wages  grew 3.1% year over year, their largest year over year increase since last October. Los Angeles and Orange County average hourly earnings grew 5.4% from last August. 

 Stock Market Update:

NYSE-NEW YORK, NY

The Dow Jones Industrial Average closed the month at 26,458.31, down from 25,964.62 last month. It is up 7% year to date. The S&P 500 closed the month at 2,913.98, down from 2,901.52 on August 31 It’s up 9% year to date. The NASDAQ closed the month at 8,046.35, down from 8,109.54 last month. It’s up 16% year to date.

Treasury Bond Yields rise: 

The 10-year treasury bond closed the month yielding 3.05%, up from 2.86% on August 31, 2018. The 30-year treasury bond yield ended the month at 3.19%, up from 3.02% at the end of August.

Mortgage rates higher in September: 

The September 27, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.72%, up from 4.52% on August 30, 2018. The 15-year fixed was 4.16%, up  from 3.97% in August 30. The 5-year ARM was 3.97%, up from 3.85% last month.

Consumer Confidence at highest level hits 18 year high in September:

The U.S. Consumer Confidence Index hit its highest level since 2000 this week according to data from the Conference Board’s September survey.

New home sales rebound in August:

The Commerce Department reported that sales of new homes increased 3.6% in August from July on a seasonally adjusted annualized rate. Year over year the number of new homes sold in August increased 12.7% from August 2017. The median price paid for a new home increased 1.9% from one year ago.

California existing home sales numbers drop in August – Prices continue to rise:

The California Association of Realtors reported this week that the number of existing home sales dropped in August to a seasonally adjusted annualized rate of 399,600. It was the fourth straight month of sales declines and the first time in over two years that the number of existing home sales dropped below the benchmark 400,000 level. The median price of a home in California rose to $596,410, up 6.6% from August 2017. On a regional basis the Los Angeles County median price rose 6.4%, Orange County rose 6,3%, and Ventura County rose 3.1% from last August. Housing inventory levels rose 17.2% from one year ago, the fifth straight month of housing supply increases. The unsold inventory index in August was a 3.3 month supply of homes listed for sale, up from 2.9 months in August 2017.

U.S. existing home sales:

The National Association of Realtors reported that total existing home sales equaled 5.34 million on a seasonally annualized rate, down 1.5% from August 2017. The nation wide median price grew 4.6% in August compared to one year ago marking the 78th straight month of year over year increases in the median price. Total housing inventory also increased. There was a 4.3 month supply of active listings in August, up from a 4.1 month supply in August 2017.

Have a great week!

-Syd