Top 10 Home Design Trends to Take into 2022

The pandemic has changed the way many of us think about our home spaces. Between Tiktok and Instagram, the stream of ideas and inspiration is endless. From trendy plants to new kitchen cabinets, many of us have replaced small items or renovated entire rooms from floor to ceiling. With the year ending, it’s no wonder we want to revisit some of the best home décor trends of 2021:

Detail in the ceilings

The ceiling or the “fifth wall” became the show stealer this year. Many opted for neutral-colored walls and a characterized ceiling. If you’re looking to update your master bedroom or living area, try adding wood detailing or beams.

Home offices were light and neutral

A lot more people are working from home these days and we can officially say that calming colors, smooth textures and bright lighting were the necessary component this year for offices.

Thank Tiktok for the “cottagecore” trend

What the internet has named “cottagecore”, is the accumulation of warm colors, soft textures and lived-in pieces like repurposed coffee tables and bookcases. If you’re looking to bring some cottagecore to your home, try incorporating floral printed pillows and repurposed furniture.

Vintage furniture is here to stay

If you’re looking for a unique twist to your home there’s no better place to look than your local flea markets. Last year, Chairish – a vintage retailer – had a 60% increase in sales, and Statista reported that the “furniture resale market” will most likely see an increase of 70% by the year 2025. Vintage isn’t going anywhere any time soon, so next time you want to add some bookends or a new armchair for the living room, try opting for a vintage piece.

Maximalist is the new minimalism

“Maximalist design is all about expressing your individuality and unique perspective. Maximalists don’t care what the ‘Joneses will think; they design for their own joy,” said award winning designer, Courtney McLeod. If you have an eye for unique design, try incorporating a colorful couch, bold lamps and fun lighting to bring a little maximalist to your life and into your home.

Bringing the outdoors inside

The old farmhouse style of plants that have taken over our houses for the last decade are slowly going out of fashion. Instead, they are being replaced with a “less is more” approach that balances between trendy and functional. If you’re looking to up your plant game, try incorporating potting options that are sculptural and have a design life of their own.

Shaker cabinets have been all the rage

If you still have the early 2000s, cherry or walnut cabinets that you are desperate to get rid of, look no further than shaker cabinets. Shaker cabinets are narrower than your typical kitchen option and feature more streamlined edges. It’s a classic style that isn’t going anywhere soon, so you can invest your money without feeling wasteful.

Modern country design has been the best of both worlds

This is for the homeowners that can’t decide what home décor is for you. The combination of modern and southern lifestyle has taken on a life of its own. It’s an idyllic classic that meshes warm, homey vibes with neutral tones and simple lines.

Bringing vacation home

There’s nothing worse than walking into a friend’s bathroom and seeing truly awful stylings of anchors, starfish and seashell-shaped towel hooks. When we say coastal décor trend, we are thinking more on the side of open and airy décor that invokes the feeling of sitting near the seaside.

Open shelving provided a fresh kitchen style

Raise your hand if you have loathed putting away the dishes simply because of the opening and closing of the cabinets. Turns out there’s a solution that just so happens to be a trending décor option. Open shelving in the kitchen has been noted by HGTV as a trend that “doesn’t seem to be showing any signs of slowing down.” If you aren’t sold on the idea, HGTV suggests taking the doors off your cabinets to “ease” into it.

Source: TheList.com

What the New Year Will Bring for the Real Estate Market

Why It Just Became Much Easier To Buy a Home

Since the pandemic began, Americans have reevaluated the meaning of the word home. That’s led some renters to realize the many benefits of homeownership, including the feelings of security and stability and the financial benefits that come with rising home equity. At the same time, many current homeowners have decided their house no longer meets their needs, so they moved into homes with more space inside and out, including a home office for remote work.

However, not every purchaser has been able to fulfill their desire for a new home. Here are two obstacles some homebuyers are facing:

The ability to save for a down payment
The ability to qualify for a mortgage at the current lending standards

This past week, both of those challenges have been mitigated to some degree for many purchasers. The FHFA (which handles mortgages by Freddie Mac, Fannie Mae, and the Federal Housing Administration) is raising its loan limit for prospective purchasers in 2022. The term used to describe the maximum loan amount they will entertain is the Conforming Loan Limit.

What Is the Difference Between a Conforming Loan and a Non-Conforming Loan?

Investopedia explains the difference in a recent post:

“Conforming loans are the only loans that meet the requirements to be acquired by Fannie Mae and Freddie Mac. Jumbo loans, which exceed the conforming limit, are the most common type of nonconforming loan.”

What Difference Does It Make to Me as a Home Buyer?

A Forbes article earlier this year explains the benefits of a conforming loan and why they exist:

“Since lenders can’t sell non-conforming loans to Fannie Mae or Freddie Mac to free up their cash, they’re a bit riskier for the lender. This is especially true for jumbo loans, which aren’t backed by any government guarantees. If you default on a jumbo loan, it’s a huge blow to the lender.

Thus, lenders generally charge higher interest rates to compensate, and they can have even more requirements. For example, lenders who give out jumbo loans often require that you make a down payment of at least 20% and show that you have at least six months’ worth of cash in reserve, if not more.”

What Happened Last Week?

The FHFA has significantly increased its Conforming Loan Limits for 2022. Sandra L. Thompson, FHFA Acting Director, explains in the press release that:

“Compared to previous years, the 2022 Conforming Loan Limits represent a significant increase due to the historic house price appreciation over the last year. While 95 percent of U.S. counties will be subject to the new baseline limit of $647,200, approximately 100 counties will have conforming loan limits approaching $1 million.”

This means that more homes now qualify for a conforming loan with lower down payment requirements and easier lending standards – the two challenges holding many buyers back over the last year.

The Federal Housing Administration (FHA) also increased its Conforming Loan Limits for 2022. That could also mean an easier path to homeownership for many prospective buyers. As the Forbes article explains:

“FHA loans can be very beneficial if you don’t have as much savings, or if your credit score could use some work.”

Bottom Line

Buying your first or your next home may have just gotten much easier (less stringent qualifying standards) and less expensive (possibly lower mortgage rate). Let’s connect to discuss how these changes may impact you.

Resources:

To get more information on the new FHFA Conforming Loan Limits, click here.
To get more information on the new FHA Conforming Loan Limits, click here.

Explore current Dunwoody homes for sale, Sandy Springs home for sale, and Chamblee homes for sale.

Millennials on the Move: Dunwoody in Position to Flourish Post-Covid

Dunwoody in Position to Flourish Post-COVID

The perfect combination of suburban and urban, Dunwoody is attracting Millennials

COVID-19 has already stunned our world and markets, it is also encouraging new ideas for our millennial movers and shakers. While millennials are fleeing the highly populated cities where COVID-19 is the most prevalent; suburban areas such as Dunwoody, are benefiting from their migration both residentially, commercially, & professionally.

Michael Starling, the city’s Economic Development Director, reported to FOX Business, “Dunwoody is a place where people come to work and raise a family, we are transitioning from having primarily retail and offices to more residential development. Now we are becoming more of a mixed-use place.”

Corporate companies are also growing and offering jobs in the area, this hybrid type of development area is appealing for the millennials and Gen Z groups. In fact, they make up 50% of the Dunwoody population with a median resident age of 36. This only further proves the movement and attractiveness of this area with the growing market and it can only go up from here. “The office and housing market are a value compared to living in Atlanta, Dunwoody is an affordable alternative people are looking for, whether it’s by choice or necessity. For a lot of these edge cities like Dunwoody, as growth has occurred, new jobs and employment follow,” Starling said.

Dunwoody has so many incredible attributes already and it just seems to be getting better. COVID-19 has caused a lot of people to reconsider their current residence and Dunwoody seems like the place to live! With a family-friendly environment, an increase in jobs, a more affordable cost of living, access to public transit, and a quick commute to the city – it should be no surprise that the population of residential buyers and more companies are coming to check out what Dunwoody real estate has to offer.

How COVID-19 is Changing Buyer Needs

With people spending more time in their homes than ever before, the “must-haves” of a home today are very different from the “must-haves” of a year ago. Whether it be more room for a home office, a renovated kitchen for more home-cooked meals, or a relaxing backyard escape, potential homebuyers need their homes to match their new lifestyle.

How COVID-19 is Impacting Schools

According to the National Center for Education Statistics, about 3% of students in the United States were home-schooled during the 2011-12 school year. But a poll taken in May of more than 2,100 parents found that 40% said they were more likely to home-school or virtual school even after certain restrictions were lifted.

As a result, when looking for their next home, one of the top priorities for many families is a designated space for their children to work in. With multiple states requiring different school re-opening strategies, many families will need to accommodate the sudden need for space for students to work in.

Designate a Home Office

Due to COVID-19, working from home has become a viable option for many. As a result, one of the top features that home buyers are looking for today is a designated home office.

Having a proper office space can help remote workers acclimate to their work style and be more productive. Like students, without a designated place to work, it is very easy to become unorganized, distracted, or even stressed. A home office gives homeowners a mini workspace to emulate any on-location position they held in the past.

Aside from the convenience of working from home, a designated home office could potentially increase your home’s estimated value by approximately $10,562 according to the Top Agent Insights Q2 2020 Report by HomeLight.

Find the Perfect Chef’s Kitchen

Although finding a home with a designated workspace is one of the top priorities for potential homebuyers, finding a home with an updated kitchen comes in at a close second.

Sick of buying delivery or ordering take-out, many people have turned to cooking and baking for themselves. New data from Influence Central shows that 88% of consumers are cooking more meals at home in the midst of the pandemic with 49% making meals from scratch. With the new wave of amateur bakers and chefs, having a space to hone their new craft is an addition to homebuyer wish lists.

Finding the Perfect Outdoor Oasis

Until a vaccine is created, many homebuyers are looking for their own outdoor oasis. Instead of outings to crowded cities or trips to the park, many are preferring the comfort of their backyard. The backyard is a journey to relaxation and play and during the midst of this pandemic, it’s the one place that many homebuyers want to escape.

In addition, while landscaping and curb appeal projects have traditionally been the most-recommended for marketability, any home seller who can boast a backyard private oasis will likely catch the attention of a stir-crazy nation.

Contact Us

Even though COVID-19 continues to sweep the nation, life continues to flourish inside of our homes. Families are now spending more time than ever inside in the comfort of their homes. With more time at home, you may be rethinking how your wish list has changed for your dream home. Will you need more space for home learning or an updated kitchen for new, delicious recipes?

Contact us at KarenCannon.com to learn more about how we can help you find the perfect home to fit your changing needs. Explore Dunwoody homes for sale and Sandy Springs home for sale.

Summer View: Our Sights Are Set on Success

Summer Home-Buying is Heating Up

After the COVID-19 pandemic started to negatively affect the economy, we have to admit that the team here at Karen Cannon, Realtors got a little worried. We were very concerned about how the economy’s decline would affect the housing market, especially the housing market in the Sandy Springs and Dunwoody areas. Well, we are pleased and blessed to report that while we did see a slight dip in April, May started to pick back up and by June, we saw numbers that rivaled those of the previous year. In fact, our anticipated sales volume for July is already 42% higher than July of last year.

In addition to that, homes are selling quicker now than any other time in the past two years, according to a new analysis provided by Zillow. While we understand that the economy hasn’t fully recovered, we couldn’t feel more optimistic about the gradual recovery that we have seen in the housing market in our area. We are feeling very positive about how the industry is starting the summer buying season and we also can’t wait to be busy this summer as we anticipate that it’s going to be a big one!

Bouncing Back
It’s probably not a big surprise that there was a dip in the housing marketing at the start of the pandemic, but what’s also interesting is the market’s resilience, and home values are one of the most notable examples of that resilience. Data received from the National Association of Realtors® (NAR), indicates that while sales numbers dipped in April, home prices have actually increased.

Not only have home values continued to increase but they have actually risen 4.3 percent year-over-year according to a report from Zillow. In that report, we also see that “the housing market has shown resilience during the coronavirus pandemic, slowing as stay-at-home orders were given across the country, but not screeching to a halt.”

At the start of the pandemic, the housing market saw both sellers and buyers shy away from buying and/or selling their homes. While that does seem like there was less housing demand at various times, there was also less supply. This resulted in a rising home value trajectory due to the supply and demand balance.

The stability of the marketing isn’t only seen in reference to home prices. Among other things, sales are bouncing back. With the trends that we are currently seeing, potential buyers must act quickly. While sellers have been delayed in making progress, they should keep in mind that buyers are wanting to press forward quickly and list their homes as quickly as possible. “Buyers shopping today might expect to be welcomed by desperate sellers, but they’ll instead discover houses selling like hotcakes in the speediest market in recent memory,” said Zillow Economist Jeff Tucker.

We Aren’t There Yet
As we all know, everything hasn’t quite returned to normal, even though there are signs of stabilization in the housing market. For now, though, the improving trajectory of many housing market metrics is something to keep at the top of mind. As we start the summer selling season, many things may still be uncertain but we are definitely moving in the right direction. In fact, as we see it now, our road to recovery looks incredibly bright. We have seen many of our sellers experience some competition starting to happen and even a few bidding wars.

We have a long road to economic stabilization and recovery but the future of the housing market is bright!