{"id":3394,"date":"2023-07-21T16:37:41","date_gmt":"2023-07-21T20:37:41","guid":{"rendered":"https:\/\/dominicksellshomes.com\/?p=3394"},"modified":"2023-08-03T17:14:17","modified_gmt":"2023-08-03T21:14:17","slug":"july-newsletter-7","status":"publish","type":"post","link":"https:\/\/dominicksellshomes.com\/2023\/07\/21\/july-newsletter-7\/","title":{"rendered":"July Newsletter"},"content":{"rendered":"

July Market Update & Newsletter<\/h1>\n

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As we enter the Dog Days of Summer, how will the real estate market respond?\u00a0 Many are predicting\u00a0that we will experience a typical seasonal slowdown.\u00a0 However,\u00a0buyer demand is expected to continue, and sales are projected to stay on\u00a0course.\u00a0 It remains uncertain whether more sellers will put their homes up for\u00a0sale, as it depends on various factors such as mortgage interest rates, but I\u00a0have a few ideas.<\/p>\n

First and foremost, mortgage interest rates will be a primary driver for people\u2019s selling and buying\u00a0decisions.\u00a0 That’s right, selling decisions too.\u00a0 If rates come down more sellers are likely to put their homes on the\u00a0market as they won\u2019t be quite as married to their current rates.\u00a0 This\u00a0phenomenon has handcuffed would-be sellers for the last year, largely wiping out the “move up” market.\u00a0 Check out this\u00a0information on interest rates people have on their current\u00a0homes:<\/p>\n

Below 6%<\/b>:\u00a0 91.8% of U.S. mortgaged homeowners have a rate\u00a0below 6%, down from a record high of 92.9% in the second\u00a0quarter of 2022.<\/p>\n

Below 5%<\/b>:\u00a0<\/b>\u00a082.4% have a rate below 5%. That\u2019s down from a peakof 85.7% in the first quarter of 2022.<\/p>\n

Below 4%<\/b>:<\/b>\u00a062% have a rate below 4%, also down from a record\u00a0high (65.3%) hit in the first quarter of 2022.<\/p>\n

Below 3%<\/b>:\u00a0<\/b>23.5% have a rate below 3%, near the highest share on\u00a0record. The highest was 24.6% in the first quarter of 2022.<\/p>\n

These are huge percentages of current homeowners with interest rates below 6%, 5%, 4%, and even 3%.\u00a0 However, if rates reach back down to the 5% range, more sellers will likely be inclined to sell their homes.\u00a0 It is anticipated that interest rates will stabilize and remain in the mid 6%-7% range through the end of the year.\u00a0 Not low enough to move the needle in my estimation.\u00a0\u00a0Another reason why people are not selling their homes is the relatively short period of time they have spent in their properties.\u00a0 Around 63% of homeowners have been in their homes for less than 10 years, with the average duration being just over 13 years.\u00a0 Time and interest rates are two significant factors that influence the decision to sell.\u00a0\u00a0Due to the limited supply of homes and high demand, sales prices are expected to remain strong\u00a0in this\u00a0region<\/b>.\u00a0 \u00a0The lack of supply and persistent buyer demand\u00a0will likely keep the market favorable for sellers.\u00a0 This can be challenging for\u00a0buyers, but it presents an opportunity for homeowners to sell.\u00a0The pace of sales is expected to remain steady throughout the summer, with\u00a0weekly sales projected to be around 600.\u00a0 While there has been a slight\u00a0decrease in sales week over week, it has not been significant.\u00a0 This indicates\u00a0that the overall market will continue to be good-not exceptional or volatile.\u00a0The big picture? Now is definitely a good time to sell if you\u2019ve been considering\u00a0it.\u00a0 Buyers may face challenges, but the assistance of an experienced agent can\u00a0help navigate the market, so give me a call.\u00a0 As always, I\u00a0\u2019m here to help you!<\/p>\n

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5 SUMMER INTERIOR DESIGN TRENDS FOR 2023<\/h2>\n

Read the full article on www.essentialhome.eu<\/i><\/p>\n

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As summer approaches, many homeowners are looking for fresh and exciting ideas to update their living spaces. From bold colors and patterns to natural materials and sustainable choices, here are some of the top summer interior design trends for 2023.<\/p>\n

Bold Colors and Patterns<\/p>\n

One of the biggest interior design trends for summer 2023 is the use of bold colors and patterns. Homeowners are embracing vivid hues that add energy and personality to their spaces. Patterned wallpaper, bold geometric prints, and abstract designs are making a comeback, adding depth and texture to walls and floors. Try adding a colorful accent wall or statement piece of furniture, or layering bold patterns and colors with your soft furnishings.<\/p>\n

Sustainable and Natural Materials<\/p>\n

Sustainability is becoming an increasingly important factor in interior design. Natural materials like wood, bamboo, and linen are becoming more popular as homeowners seek out eco-friendly options that are both stylish and sustainable. Recycled and upcycled materials are gaining popularity, as people look for creative ways to reuse and repurpose old items. Look for furniture and decor made from sustainable materials or choose pieces that have been repurposed or upcycled.<\/p>\n

Comfortable and Cozy Spaces<\/p>\n

Creating comfortable and cozy spaces has become a top priority for interior design. Soft furnishings like plush rugs, cozy blankets, and oversized pillows are all popular choices for creating a warm and inviting atmosphere. Focus on creating a comfortable seating area with plenty of soft furnishings and natural accents.<\/p>\n

Open Floor Plans<\/p>\n

Open floor plans have been popular for several years. Open floor plans also allow for more natural light, making your home feel bright and spacious. Consider removing walls or using furniture to divide your space into functional zones.<\/p>\n

Maximalism<\/p>\n

Maximalism embraces bold colors, patterns, and textures to create a rich and layered look. Think lush fabrics, ornate decor, and eclectic collections that showcase your personality and style. Don\u2019t be afraid to mix and match different styles and eras.<\/p>\n

2023 is set to be an exciting year for interior design, with trends ranging from bold colors and patterns to natural materials and sustainable choices. By incorporating these trends into your own home, you can create a space that feels fresh, stylish, and welcoming for the summer months and beyond.<\/p>\n

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Recipe of the Month<\/h2>\n

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Corn & Tomato Salad<\/h2>\n

Total Time: 20 minutes –\u00a0Serves: 6 servings<\/p>\n

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INGREDIENTS<\/b><\/p>\n