Will My House Still Sell in Today’s Market?

If recent headlines about the housing market cooling and buyer demand moderating have you worried you’ve missed your chance to sell, here’s what you need to know. Buyer demand hasn’t disappeared, it’s just eased from the peak intensity we saw over the past two years.

Buyer Demand Then and Now

During the pandemic, mortgage rates hit record lows, and that spurred a significant rise in buyer demand. This year, as rates increased due to factors like rising inflation, buyer demand pulled back or softened as a result. The latest data from ShowingTime confirms this trend (see graph below):

The orange bars in the graph above represent the last few months of data and the clear cooldown in the volume of home showings the market has seen since mortgage rates started to rise. But context is important. To get the full picture of where today’s demand stands, let’s look at the July data for the past six years (see graph below):

This second visual makes it clear that, while moderating compared to the frenzy in 2020 and 2021, showing activity is still beating pre-pandemic levels – and those pre-pandemic years were great years for the housing market. That goes to show there’s still demand if you sell your house today.

What That Means for You When You Sell

The key to selling in a changing market is understanding where the housing market is now. It’s not the same market we had last year or even earlier this year, but that doesn’t mean the opportunity to sell has passed.

While things have cooled a bit, it’s still a sellers’ market. If you work with a trusted local expert to price your house at the current market value, the demand is still there, and it should sell quickly. According to a recent survey from realtor.com, 92% of homeowners who sold in August reported being satisfied with the outcome of their sale.

Bottom Line

Buyer demand hasn’t disappeared, it’s just moderated this year. If you’re ready to sell your house today, let’s connect so you have expert insights on how the market has shifted and how to plan accordingly for your sale.

After 28 years, Boca Raton will soon welcome a new waterfront park: Ocean Strand

Article provided by Jasmine Fernandez, Palm Beach Post

A 14-acre stretch of land from the beach to the Intracoastal on Ocean Boulevard has been sitting dormant for 28 years. Soon, it will be known as Ocean Strand Park.

The Greater Boca Raton Beach & Park District bought the land at 2300 N. Ocean Blvd. in 1994. City officials envisioned turning it into a public park that would accentuate the area’s natural beauty.  "When you go there, it's like walking back in time almost," said Briann Harms, executive director of the Beach & Park District, reminiscing on the homes once spread across the property when it was developed. "You forget that you're in South Florida for a minute because you're surrounded by trees, you're surrounded by the sounds of birds and nature and wildlife."

Items found during the dig at the site date to 800 AD

After its purchase, those homes were taken down and the land remained gated as a vacant lot. But in early August, Beach & Park District officials completed the permitting process required to move forward with the park's development, which took two years.

The process lasted longer than District Commissioner Erin Wright had anticipated, but Boca Raton city officials are diligent when it comes to permitting, she said. That, and archaeological remains of pottery dating back to 800 AD were found on the site. 

Archaeological digs are not always required by city officials, Harms said, but typically produce the best results in coastal communities, where objects tend to wash up. Harms plans on proposing displaying the pottery at the Boca Raton Historical Society, but if the team there does not accept the pieces, they will be preserved at one of Boca Raton's parks or community centers, she said.

Harms predicts Ocean Strand will be completed by the new year. Though work on the park will start this month, heavy machinery is not permitted on the land because of the archaeological finds. So everything that's being done now, such as the invasive plant removal requested by city officials, must happen manually, extending the process.

Can a national contest bring extra money for Boca's new park?

When Wright proposed Ocean Strand, the project's budget was $100,000. Today, the number has risen to $300,000, she said. But that could change with the national recognition the park has garnered so far, even before its completion — and the price that comes with it.

Currently, Ocean Strand Park is fifth in place, out of 10 contestants, for the Niagara "Perk Your Park" Project. If Ocean Strand wins, $75,000 would be awarded toward the park's cost, Wright said. Park officials expect to know the winners on or around Oct. 20.

An award such as this one certainly could help taxpayers, such as Dave Petruzzelli, who has lived in Boca Raton his entire life, even supporting the acquisition of the land for the park back in the 1990s. "It was an excellent piece for preservation and passive use," Petruzzelli said. "It really helps complete the natural area that surrounds Lake Wyman, … and it's really kind of like land that time forgot, just kind of a lot of people don't even realize it's there. It's absolutely gorgeous."

Petruzzelli, 61, plans to enjoy the park daily, primarily by walking its trail, which is near his home. But he also hopes others in the area will take advantage of the hidden gem.

The park is in Phase 1 right now, meaning the work will focus on natural walking trails through the mangroves, ADA accessibility and educational opportunities. Future phases could bring electricity and running water to the park, as well as picnic tables, a kayak launch and space for parking.

10 INTERIOR DESIGN TRENDS TO EMBRACE IN 2023

Article provided by The Scout Guide

As we round the corner into the last part of 2022, we’re looking ahead to design trends for the coming year. Across the board, we’re seeing a shift away from safe neutrals into more adventurous, playful territory. We checked in with five scouted interior designers across the country to get a pulse on the top trends they see emerging in 2023. We’re here for this exciting style shift.

Consider bespoke furnishings. Historically, there’s been hesitancy to explore custom furniture options because of lead times and exorbitant prices. However, Bridget Tiek, owner and interior designer of Tiek & Co. in Baton Rouge, Louisiana, explains that currently, with material and workforce shortages, most major manufacturers have extended lead times and major price increases. “We’ve been looking to our local artisans and makers who can craft one-of-a-kind, unique pieces that are beating the expectations on both price and timing,” she explains. “A bespoke piece is not always just an opportunity for something unique, it can help solve a functional issue as well.” Her team often turns to custom furniture for the ability to meet a client’s needs, creating pieces that can be multi-purpose, have hidden storage, and fit perfectly into specific spaces.

Think monochromatic for small spaces. Kimberly Harper, owner of Harper Howey Interiors in Bentonville, Arkansas, has been opting for monochromatic color schemes to make spaces feel larger, like the small guest bedroom above. She chose a neutral color palette of gray tones, and carried it over into wallpaper, draperies, furnishings, and bedding. Harper notes that monochromatic doesn’t have to be boring; you can choose any color family that strikes your fancy and enjoy playing with patterns. Because the color scheme is consistent, you can mix up the patterns you use in one space.

Go for Grandmillennial style. This design trend, often described as granny chic, is still going strong. According to Beth Ann Kallen and Victoria Pouncey, co-owners of Folly in Charlottesville, Virginia, this style nods at recreating grandma’s living room by bringing back wallpaper, antiques, copious floral prints, and macrame-style trims. For the above dining room, the duo incorporated updated florals in the landscape-style wallpaper and a dark wood antique sideboard and dining room table.

Infuse your space with fun. During a time when there were a lot of disruptions and chaos in our lives due to the pandemic, interiors have leaned toward calming, neutral palettes, explains Karen Korn, principal designer at Karen Korn Interiors in St. Louis, Missouri. Now, people are ready to embrace color and playfulness—in their lives and interiors. “Collectively, we’ve shied away from color and pattern, but now people are really going for it with big bold furniture pieces, patterned sofas, colorful kitchen cabinets, wild wallpapers, and intricate tile in bathrooms and kitchens,” she reports. “No longer will a colorful throw pillow do. We’re over being safe. Now is the time to be bold, and most importantly, have fun!”

Lean into arches and curves. According to Harper, these softer lines are making a comeback. “We’re seeing a movement away from the sharp mid-century lines with a shift towards the more gentle, rounded curves of the 1980s,” she reports. This is played out not only in architectural details, but in the arched arms of furniture, fabric, and wallpaper.

Take a walk on the dark side. White has held center stage for some time now, but Tiek is starting to see the pendulum swing in the other direction with heavy doses of black. “Not only are people looking for more saturation, they are looking at the full opposite color: black,” she shares. “Black can be a really nuanced color too when you play around with the color spectrum, exploring them all, like blue and brown blacks,” Tiek explains the color creates a nice cocoon effect and can be really calming. “Not everyone can get behind an all dark space but we believe all rooms need even a small dose of black to ground them,” she adds.

Check that box. Plaids, checks, and tartans are solid interior trends that truly never go out of style, but they do have moments, and Kallen and Pouncey report they are seeing a resurgence in client requests for these tried and true patterns in interiors. They’re especially loving the recent rollout of Miles Redd’s new Painterly Window Pane pattern that utilizes somewhat scribbled lines. For draperies and even in upholstery, a large-scale windowpane plaid offers a fresh perspective.

Embrace wood tones. Trends were all white for so long, but now stained wood features—which elevate a room by adding depth—are having a resurgence. “Wood adds warmth to a space by bringing a bit of nature inside,” Laura Yeager Smith, principal at Laura Yeager Smith Home & Design in Hudson, Ohio reports. She notes that it can be tricky to achieve the perfect wood stain, finding a delicate balance between being too warm and just warm enough. “Sometimes, nature provides the perfect color in its original form, especially with a walnut finish.”

Mix up your styles. Instead of rigidly adhering to one design aesthetic, Korn is seeing a movement toward a more layered look, incorporating different styles and genres in a thoughtful way. “Using different styles allows spaces to feel more at ease without the constraint of a tight aesthetic,” she shares. This produces a more timeless look while also creating a warm, comfortable home that is a reflection of your personal taste. The key to pulling off this look, Korn explains, is to have one element that ties it all together, be it a rug, armoire, piece of art, or even a pillow, and paying attention to the size and scale of your spaces.

Make geometry work for you. “Straight angles and lines offer a rigidity that truly adds high-impact and order to a space,” reports Smith. “We use symmetry in our designs to create strong axis and focal points. This is balanced with the use of irregular shapes and geometric patterns.” She reports seeing a great deal more finishes, whether it’s tile, fabric, or wallpaper, reflecting these geometric compositions. When creating a palette for a client, I take into consideration the style of the home and the general aesthetic. The handmade natural wood wall covering in the above photo has that element of the unexpected and creates a real “wow!” factor.