Friday, September 29, 2017

12 Easy Steps to Prepare Your Home For Fall

The days are getting shorter, and the nights are getting cooler. The kids are trudging off to school again with their backpacks and light jackets, and leaves are starting to fall from the trees.

Yep, it's official: Fall is here. Now is the time to finish up any last-minute late-summer maintenance projects, and get your home and yard ready for fall.

Just follow our easy checklist, and your home will soon be clean, warm, and ready for the cool days to come.

Exterior prep

  • Fix cracks in concrete and asphalt. Depending on where you live, these may be the last weeks this year when it will be warm and sunny enough to repair driveway and sidewalk cracks.
  • Clean out the gutters. No one loves this job, but we all need to do it annually. A few hours of work can prevent big problems later on. And while you're up on that ladder, visually inspect your roof for damaged shingles, flashing, or vents. You can also inspect the chimney for any missing mortar, and consider tuck-pointing if needed.
  • Turn off outdoor plumbing. Drain outdoor faucets and sprinkler systems, and cover them to protect them from freezing weather to come.
  • Start composting. If you don't already have compost bins, now is the time to make or get some. All those accumulated autumn leaves will bring you gardening gold next summer!
  • Clean outdoor furniture and gardening tools. It may not be quite time yet to put them away, but go ahead and make sure your outdoor furniture and gardening tools are cleaned up and ready for storage over the winter.
  • Plant bulbs for spring-blooming flowers. A joyous and beautiful sign of spring is when tulips and daffodils start popping up everywhere. Plant bulbs in October, as soon as the soil has cooled down, to reap big rewards next spring. If you’ve never planted bulbs before, select a spot in your yard that gets full sun during the day.

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Interior prep

  • Prepare your furnace for winter duty. If you didn't already do it last spring, consider getting your furnace professionally serviced in time for the cold season. At the minimum, though, visually inspect your furnace and replace the furnace filter before turning it on for the first time.
  • Clean the fireplace and chimney. Clean out the fireplace, make sure the flue is operating properly, and that doors and shields are sound. Have the chimney professionally swept if needed. Now is the time to stock up on firewood!
  • Keep the warm air inside and the cold air outside. Inspect your windows and doors. Check weather stripping by opening a door, placing a piece of paper in the entryway, and closing the door. The paper should not be able to slide back and forth easily. If it does, the weather stripping isn't doing its job. Also, now is the time to re-caulk around windows and door casings if needed.
  • Light the way. Bring as much light into your home as you can for the colder, darker months. To accentuate natural light, clean your windows and blinds, especially in rooms that get a lot of sunlight. Add lighting to darker spaces easily with new lamps. And consider replacing traditional incandescent light bulbs with energy-efficient bulbs.
  • Create a mudroom. Even if you don't have a dedicated mudroom in your home, now is a good time to think about organizing and stocking an entryway that will serve as a "mudroom" area for cold and wet weather. Put down an indoor/outdoor rug to protect the floor. A fun and rewarding weekend project is to build a wooden shoe rack, coat rack, or a storage bench for your entryway.
  • Home safety check. Replace the batteries in your smoke alarms and CO2 monitors. A good way to remember to do this is to always replace the batteries when you change the clock for "fall back." Create a family fire escape plan, or review the one you already have. Put together an emergency preparedness kit so that you are ready for winter power outages.

Once you finish with your autumn home checklist, you will be ready to relax in your warm, comfortable home, and enjoy the season.

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Originally published September 20, 2016.



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4 Ways to Cozy Up Your Kitchen for Fall

Katy Perry Lists Her Post-Divorce Mulholland Drive Compound

In 2013, Katy Perry scooped up not one, but two new neighboring homes shortly after her divorce from Russell Brand. Now, just four years later, the pop princess is ready to divorce herself from one of the homes. Listed by, Ernie Carswell, her long-term partner in all things real estate Perry is hoping to unload the Mediterranean-inspired estate for a cool $9.45 million.

Consisting of four separate residential structures, the Hollywood Heights home is actually more like a compound than a single house. In addition to a main residence, the 2.33-acre lot is also home to a two-story guest house, a fitness center, a security guardhouse, and a garage that can comfortably fit a limousine (a must-have for every California Girl).

The estate is atop Runyon Canyon Park, and any lucky visitors are treated to an opulent gated entrance, followed by a hand-hewn stone driveway leading up to the 4-bed, 6-bath home. Framed by lush greenery, the white facade of the 7,418-square-foot residence provides a cheerful contrast with the red tones of the Spanish tile roof.

Photos from Zillow listing

Inside the home, there’s no shortage of luxury (and comfort). Light-colored wood beams run across the ceilings throughout, and oversized windows shower the entire main floor with natural light. The kitchen features a stunning patterned white, red, and grey tile with a matching backsplash behind a professional kitchen-grade Wolf range and state-of-the-art oven. Upstairs, the sprawling master suite occupies the entire floor. A Roman bath sits underneath the skylight in an oversized bathroom, which-luxuriously-also boasts a fireplace of its own.

A large pool is tucked in behind the house, bordered by Italian quarried stone, and with a breathtaking hilltop view of Los Angeles. The outdoor opulence doesn’t end there; among the 2+ acre grounds are an amphitheater, multiple terraces, an orchard of fruit trees, fountains, a Buddha statue, a wood-fired oven, and more.

Ernie Carswell of Carswell & Partners holds the listing.

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Wednesday, September 27, 2017

27 Stats That Sum Up the American Housing Market

Today’s housing market is fast-paced and often pricier than it’s been in decades. Both renters and buyers are facing challenges in finding a place to call home. Both sellers and homeowners also face their own set of challenges — tied to the line they walk between seeing their home as a personal extension of themselves as well as one of their biggest financial investments. The Zillow Group Report on Consumer Housing Trends 2017 is a deep dive into understanding all these challenges as well as the deep desires people have around home.

Zillow surveyed over 13,000 people to determine how Americans rent, buy, sell and even think about real estate as part of the report research. Some of our discoveries could be surprising, or perhaps to today’s renters, buyers, sellers and homeowners, the findings ring very true.

Renters

More Americans are renting today than in recent decades — some by choice and some simply due market conditions. Thirty-seven percent of American households are renters — about 43.7 million homes — which is an increase of 6.9 million homes since 2005. While part of the rise in renters is due to the 8 million homes lost to foreclosure during the recession, renters today also prize the maintenance-free and flexible lifestyle renting offers.

  • Renters skew younger: The typical renter has a median age of 32 years old.
  • Renters represent a more diverse population. Fifty-five percent are Caucasian/white, an additional 19 percent are African-American/black. Hispanics count for 17 percent of renters, Asian/Pacific Islander renters make up 7 percent of the renter population and another 3 percent identify as another ethnicity.
  • Nearly half of renters are single, including a third who have never married.
  • Although the majority of renters are single, 78 percent live with others, most often this is another family member.
  • The median rent across the U.S. is $1,010 with highest rents in the West and lowest rents in the Midwest.
  • Renting can be expensive: 79% of renters who moved in the past year had a rent increase.
  • More than half of renters (57%) had a rent increase impact their decision to move and 37% of renters who aren't moving say it's because they can't afford to.

Buyers

Buying is tough in all markets. For most Americans, it’s the biggest purchase they’ll ever make as well as a significant financial investment they’ll tap into as part of retirement. In particular cities, purchasing a home has become a competitive game, complete with bidding wars and offer negotiations. It makes sense that most buyers rely on agents to help them through the process.

  • Today’s buyers have a median age of 40, although the majority (71%) of first-time buyers are Millennials.
  • The median household income of the typical buyer is $87,500 and most buyers are married or partnered, relying on two incomes to purchase a home.
  • The typical home in the U.S. purchased has 3 bedrooms, 2 1/2 bathrooms, measures 1,800 square feet and costs $200,000.
  • More than anything, buyers want their home to be in a safe neighborhood (71 percent of buyers) and in their price range (67 percent of buyers).
  • Other than safety, buyers also want to stay cool. Sixty-two percent of buyers require their homes to have air conditioning.
  • Buyers take an average of 4.3 months to search for their new homes — although Millennials take just under four months (3.9 months) and those in the Silent Generation who take the longest at 5.6 months.
  • The suburbs rule: 49% of buyers buy there, followed by 31% of buyers buying in urban locations and just 19% of American buyers purchasing in rural regions.

Sellers

Although some hot markets have favorable conditions for sellers, selling is still rarely an easy process. Sellers have two main goals when they list their homes: one- to sell their home in their preferred time frame, and two, sell for their desired price. Balancing the two, timing and price, create a delicate dance and throw in the fact that most sellers are also buyers and searching for their new home, creates a often stressful experience.

  • Sellers have a median age of 45 although Millennials make up nearly one-third of todays’ sellers.
  • Sellers have a higher median income than homeowners at $87,500.
  • The typical seller has lived in their home for 12 years.
  • Most sellers are selling for the first time (61%) and looking to buy at the same time (71%).
  • Seventy-six of sellers have to make at least one concession to sell their home — most often being a price reduction.
  • One in two sellers sell their home for less than their original listing price.

Homeowners

As anyone will tell you, owning a home is a lot of work. It’s also a great investment, especially in many of today’s markets were annual appreciation rates are higher than they have been in decades. Beyond the work and the financial piece, home ownership often has an emotional component as well.

  • Homeowners are the oldest, with a median age of 57 years and just 14%  are Millennials.
  • Homeowners have a median household income of $62,500 and 71% live with a spouse or partner.
  • Forty percent of homeowners have a pet (with dogs ranking in top at 30%).
  • Almost half of homeowners (46 percent) live in the first home they purchased, although this percentage decreases with age.
  • Eighty-six percent of homeowners have no plan to sell in the next three years.
  • Less than a quarter of homeowners say their home is in “like-new” condition and more than 60% say their home could use a little updating.
  • The top of homeowners’ to-do list for the next year include: painting the interior (25%), improving the bathroom (22 percent) and landscaping (21 percent).

Learn more about today’s renters, buyers, sellers and homeowners in the Zillow Group Consumer Housing Trends Report 2017.

 



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How to Actually Afford to Buy A Home in America

Home buyers today face tough challenges-housing prices have soared, a dollar doesn't go as far as it once did and rent is more expensive than the past. How are people today making such a large purchase in spite of these hurdles? With more flexibility and a bit of creativity when it comes to financing, today's buyers are finding ways to achieve homeownership.

Make Enough Money

With fewer resources to pull from than their older, wealthier counterparts, renters wanting to be buyers face tough financial headwinds. Renter households typically earn a median income of $37,500 annually, which is $50,000 less than the median household income netted by households who recently bought a home (of whom the median household income is $87,500 annually). While there are ways to enter into homeownership without making $87,500 in household income, it’s hard to afford to buy if you make significantly less. “If you're making $37,500 per year, it's probably not feasible for you to buy in almost any market," says Zillow Chief Economist Dr. Svenja Gudell.

Only 29 percent of Americans do make $87,500 or more, per U.S. Census Bureau, American Community Survey 2016 data. For perspective, only one of the top 10 most common jobs in the United States carries a salary above $37,500, meaning the jobs that the majority of Americans hold-fast food workers, cashiers, retail salespersons, customer service representatives, secretaries, housekeepers among others-bring in less money than the median renter household. While households purchasing homes are more likely to have two incomes than renter households (and thus a higher median household income combined), even two-income households struggle to afford to buy in competitive markets.

Save Up Enough Cash (But Not As Much As You Think)

One of the most daunting parts of homebuying? The down payment. In fact, two-thirds of renters cite saving for a down payment as the biggest hurdle to buying a home, according to the Zillow Housing Aspirations Report. Per findings from the Zillow Group Consumer Housing Trends Report 2017, almost one-third (29 percent) of buyers active in the market express difficulty saving for the down payment.

For people buying the national median home valued at $201,900, with the traditional 20 percent down payment, that’s $40,380 up front-just to move in.

“The down payment remains a hurdle for a lot of people,” notes Zillow Chief Economist Dr. Svenja Gudell. “Although, they should know they don’t have to put 20 percent down.” Although putting down less than 20 percent means additional considerations, such as the cost for private mortgage insurance (PMI), some find it worth the hassle. In fact, only one-quarter of buyers (24 percent) put 20 percent down, and just over half of buyers (55 percent) put less than the traditional 20 percent down.

Buyers are also getting creative about piecing together a down payment from multiple sources. According to the report findings, nearly 1 in 4 buyers (24 percent) build a down payment from two or more sources, including saving, gifts, loans, the sale of a previous home, stocks, retirement funds and other resources.

Know Your Deal Breakers, But Be Flexible

In order to get into a home-even if it's not the home of their dreams-some of today's buyers are considering homes and locations outside of their initial wish list, and are having to get increasingly flexible when it comes to neighborhood, house condition, and even type of home.

Although single-family homes remain a dream for most home seekers, buyers today consider and buy condos and townhouses-in order to secure a home in their ideal location. Buyers with household incomes under $50,000 are more likely to consider homes outside of the traditional single-family residence (40 percent), compared to those with incomes of $50,000 or above (24 percent). “I do think people get discouraged when they look in their target neighborhood and they see homes around $170,000 when they’re looking for a $110,000 home,” Gudell says.

Affordably-priced homes do, in fact, exist. But in popular areas, where people most often want to live, it’s going to be harder to find that cheaper home, Gudell says. "If you’re willing to take a longer commute and make a couple tradeoffs, you might be able to find a home that is further out that might be cheaper," Gudell explains. “You have to leave the paved path before you can find cheaper choices."



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Rising Rents, Stagnant Wages, And the Burden of Unstable Housing

While homelessness may not be viewed as a looming issue on the horizon for those who are financially stable, or otherwise have secure and stable housing-it’s not as distant as some might think. With rents rising faster than wages, the burden of affording rent is looming larger and larger for many Americans, and in some cases becoming insurmountable.

According to the Zillow Group Report on Consumer Housing Trends 2017, 79 percent of renters who moved in the last 12 months experienced an increase in their monthly rent before moving to a new place. And over half (57 percent) said that hike was a factor in pushing them out the door and into another rental. Only 21 percent of renter households didn't report experiencing an increase in rent.

Nearly a third (30 percent) of households nationwide, representing roughly 73 million adults, report they're struggling or just getting by financially. And it's no wonder; Americans spend on average a median of 29.1 percent of their income on rent, including many who spend a higher percentage but have lower incomes. Increasingly, major metro areas are becoming out of reach for those who aren't earning more than minimum wage, and this is becoming increasingly true even in markets that have historically been more affordable.

Take Houston, for instance, where the median low-income earner spends 65.1 percent of her income on the median bottom-tier rent. Then there's notoriously expensive New York, where-along with San Francisco and Los Angeles markets-the median low-income wage will not even cover a low-end apartment. In New York alone, to afford apartments with median bottom-tier rents, renters need to shill out 111.8 percent of the median low-income wage.

With such large percentages of household incomes going towards rent, saving for the future is less of a priority-and possibility. More than half (51 percent) of Americans say they don't have enough money saved to support themselves for 3 months, according to the Federal Reserve Board's 2016 Survey of Household Economics and Decisionmaking.

Millions Struggle Just to Afford Stable Housing

According to the Zillow Group Report on Consumer Housing Trends 2017, today's median household income for renters is $37,500, which equates to about $18 per hour-or 2.5 times the federal minimum wage of $7.25. Nationwide, in 2016, 2.2 million people lived off wages at or below the federal minimum wage, according to the U.S. Bureau of Labor Statistics.

When it comes to renting, there is no state where a 40-hour minimum wage is enough to afford a two-bedroom apartment, according to the National Low Income Housing Coalition.

While renting is becoming increasingly more difficult, buying a home becomes a distant dream."Honestly, if you're making $37,500 per year and have no savings, it's probably not feasible for you to buy in most markets," Zillow Chief Economist Dr. Svenja Gudell says.

Across all states, the median renter can expect to pay $1,430 per month on rent. It's no wonder many Americans are struggling financially- particularly in New York, Los Angeles, Washington D.C., and Seattle, where there's also a stronger relationship between rising rents and an increase in the homeless population.

Homelessness by the Numbers

Coast to coast, there are an estimated 550,000 homeless people, according to the U.S. Department of Urban and Housing Development. But Zillow Research used statistical modeling to estimate the uncounted homeless population, unsheltered homeless people often missed during the One Night Counts, to estimate the true number of homeless people, a number much higher than the official estimates. And as rents climb, the numbers will only grow, especially in large, tight metros, where the rent burden can become life-altering.

Take New York City, for example. The metro has the largest population of homeless people than anywhere else in the nation. Last year, there were an estimated 76,411 people experiencing homelessness, according to Zillow’s estimates. If rents were to rise 5 percent, an additional 2,982 people would be forced to the streets.

And Los Angeles doesn’t fare much better. Given the same rent hike, an additional 1,993 people would fall into homelessness. And a rent hike of 5 percent isn’t implausible, especially given that in L.A., rents rose 4.4 percent over the past year.

The Geography of Social Mobility

Right now, in L.A., renters dish out $2,707 per month for the median rent, which is almost twice the national median rent and amounts to nearly half of the median household income in the metro. With such a substantial chunk of money spent every month on rent, it’s no surprise the metro has an estimated 59,508 people without a home.

But rents haven't always been so unaffordable. Just 17 years ago, three of the top 20 metros were rent-burdened, meaning renters paid more than 30 percent of their income on living expenses. Today, however, the number of cities that have become unaffordable have grown exponentially.

Currently, renters in 9 of the same top 20 metros can expect to spend 30 percent or more of their income on rent. The biggest share spent on rent comes from Los Angeles, where renters dish out nearly half (49 percent) of income on rent.

"The places where social mobility-the ability to climb the income ladder-is the greatest are now in places that are unaffordable for most people," said Gudell. "San Jose or the Bay Area in general, parts of Boston, for example-these places have gotten to be so expensive that a lot of people who have an income of $37,500 a year will not be able to buy a home or even afford a family-sized rental."

The Costs of Housing Instability Go Beyond Financial

Unfortunately, for too many, lack of affordable housing can complicate other critical aspects of life, including health and future livelihoods.

Individuals living in shelters are more than twice as likely to have a disability compared to the general population. This includes serious mental illnesses, conditions related to chronic substance abuse, diabetes, heart disease and HIV/AIDS, according to the U.S. Department of Housing and Urban Development.

Gudell says people have better outcomes when they aren’t constantly moving from place to place. “It's been shown that you have better outcomes if you live in a stable environment with less frequent moves, which is easier to attain when you own versus renting," Gudell said. "So, if you take stable environments away from people, their outcomes will most likely be worse than they are today, and that has an impact on education, on health and on income growth in the future."



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Monday, September 25, 2017

Designer Lookbook: Wendy Berry's Beach-Chic Condo

In the Naples, FL Kalea Bay high-rise, interior designer Wendy Berry of W Design Interiors outfitted a 3,600-square-foot condo in sandy and white hues, creating a sophisticated beach-chic vibe.

"We kept it clean, fresh, and not overly decorated," says Berry. "We wanted it to feel expensive, but we also wanted it to be a home you could comfortably sit down in."

Rich oak floors from Vincenzo by Legno Bastone warm up the light and airy 4-bedroom, 4-bathroom condo. Playing off the floor’s color, Berry used a monochromatic palette throughout.

"I always load things up with texture - using different shades of creams with different textiles and patterns," she says of the colors used throughout the home. Berry furnished the home with her custom furniture line, W Home Collection.

The home features an open floor plan, so Berry used various architectural elements to delineate spaces. In the great room, for instance, a wooden herringbone ceiling defines the space, which is bordered by the bar, dinette, and kitchen.

A custom built-in wooden entertainment unit was centered under the ceiling treatment to further define the space, and a mirrored backsplash bounces light around, since there’s only one wall of windows.

When you get off the elevator and enter the condo, a large floor-to-ceiling mirror is framed in a stack of bleached walnut. "I took the mirror from the ceiling to the floor with no molding so it has the appearance of a doorway," says Berry.

Berry had a beautiful custom wood wine cabinet constructed, which also sits in the entryway. Wine is displayed on pegs and encased in glass.

In the bright and cheery kitchen, Shaker-style cabinets are painted a crisp white and paired with Victoria quartz countertops that have a marble appearance. The backsplash features hand-glazed Erin Adams Designs tile that has a pearly sea glass look to it.

Contemporary pendant lights over the bar complement the chandelier hanging above the dining room table.

In one of the guest rooms, Berry created a nautical vibe by covering the walls in a cost-effective faux shiplap. She applied 1-by-1-inch strips horizontally across the walls and painted them in White Dove OC-17 from Benjamin Moore.

In another guest room, Berry saved money by painting two-toned panels on the walls in lieu of using actual wood molding. Benjamin Moore's White Dove OC-17 was used to create a 4-inch perimeter on the wall, with the center painted in Sherwin Williams 7029 Agreeable Gray.

Bathrooms throughout the condo were covered in bold printed wall coverings - nautical Bold Chains by Wallquest, black-and-white Treasure Collection in Feather from Zimmer + Rohde, and dragon fly-printed Demoiselle in Graphite/Almond from Harlequin. And in the laundry room, a subtle gray boat-printed wallpaper - Yacht Blueprint from Wallquest - adds character to the walls.

One of the bedrooms was transformed into a den, with two oversized chaise lounges that double as twin beds. Berry infused the room with Native American-inspired decor, like feather fabric, tribal artwork, and an Aztec-patterned rug. The ceiling was covered in a wood grain wallpaper - Chene from Nobilis.

"We always give our master [bedrooms] a very calm, soft feeling so people feel ready to sleep and relax," says Berry of the tranquil space that’s decorated in blue and white.

To complement the relaxing master bedroom, Berry created a bathroom that resembles a spa-like sanctuary, with white cabinetry, quartz countertops, polished floors, an oversized shower, and a freestanding tub.

Take the full home tour:

Get the look at home

  • To achieve the shiplap look for less, apply 1-by-1-inch strips to walls horizontally, approximately 8 inches apart around the room, and then paint the wall white.
  • For the appearance of two-tone wall paneling, tape off a pattern of panel molding on the walls, then paint the inside panels in a darker shade and the perimeter area white.
  • "Brighten small bathrooms with daring and fun wallpaper for a big look in a small space," Berry says.
  • "Accessories make the room design come to life," says Berry. With shelving, she advises layering decorative pieces, like book stacks, decorative glass bowls, artifacts, and picture frames. "Then balance the the next shelf with something simple, like one larger bowl or sculpture."

See more design inspiration on Zillow Digs.

Photos by Doug Thompson.

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