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Paint it Black

Dec 16, 2019

Shading your walls in black may not be the first thing that comes to mind when you’re considering paint colors. But black has a daring all its own that can bring character and chicness to your space.  “The result is both unexpected and incredibly sophisticated,” says Andrea Magno, a Benjamin Moore color and design expert.

“Black has an interesting effect on the walls of a room because the corners and shadows are obscured more than if a midtone or pastel color is used,” Magno says. “This can be used as a visual trick to give the space a less-defined appearance and can make a room feel a bit more expansive.”

Black walls can also bring coziness. “Dark walls coupled with dramatic lighting create an instant air of luxury and sumptuousness,” says Karen Howes, CEO and founder of London-based interior-design firm Taylor Howes.

Discover more about how you can leverage black accents in your home from RESIDE® Magazine

Economist’s Outlook: Jobs Report

May 3, 2019

The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s U.S. Bureau of Labor Statistics (BLS) report on the employment situation in April and impact on housing market. “Fantastic news on the jobs market as abundant job openings are getting filled. Such conditions bhttp://bit.ly/2JH1OKDoost consumer confidence which further feeds the economy. Despite the hefty 263,000 net new job creation in April (and 2.6 million over the recent 12 months), essentially no jobs were added in the key housing sector where there is an acute housing shortage. Jobs in residential construction were reduced by 2,500 and grew by only 3,100 in residential contractor trade in April. For the economy to rise in a healthy balanced way over the long haul, an adequate housing supply is a must. More home construction of mid-priced homes are needed so that teachers, nurses, and police officers are able to live in the community in which they serve. For that to happen, residential construction jobs and residential contractors need to grow by close to half a million. There is no expectation for quick gains as construction job openings go unfulfilled. Expect housing shortage to be a major issue in the next year’s election.”

Valley Housing Report Shows Price Gains

Nov 26, 2018

According to a study by Metro Phoenix Housing Market Data and Analysis and RL Brown Housing Reports, the Valley’s residential sector is not only surviving, but also thriving — with no sign of a bubble.  “This is a solid-looking housing market… it’s the best it’s been in years,” said RL Brown, publisher of RL Brown Housing Reports.  “This is the kind of housing market consumers should be looking for — be they buyers or be they sellers. This is a steady, stable, but growing housing market on the resale side and the new home sale side,” Brown said.

The report states the region saw the most home permits and closing it has seen in the past 10 years for October.  New home sale prices were up 5.89 percent in October, accordign to the monthly report, with a median price of $332,186 on 1,651 sales for the month. Resale home prices were up 1.83 percent with a median price of $250,000 on 8,542 sales for October.  Data in the report shows the housing market is experiencing a steady increase, whereas a bubble typically comes after a rapid spike in sales and prices.

2019 Forecast: Existing-Home Sales to Stabilize and Price Growth to Continue

Nov 6, 2018

Consumers should expect home sales to flatten and home prices to continue to increase, though at a slower pace, according to a residential housing and economic forecast session at NAR’s 2018 REALTORS® Conference & Expo .

As Lawrence Yun, chief economist at the National Association of Realtors®, presented his 2019 housing and economic forecast, he was joined onstage by Lisa Sturtevant, President of Lisa Sturtevant & Associates, LLC, who discussed the importance of affordable housing in the U.S.

Much of Yun’s presentation focused on recent declines in home sales, but in the context of long-term trends to illustrate the housing market’s actual performance.

“Ninety percent of markets are experiencing price gains while very few are experiencing consistent price declines,” said Yun. “2017 was the best year for home sales in ten years, and 2018 is only down 1.5 percent year to date. Statistically, it is a mild twinge in the data and a very mild adjustment compared to the long-term growth we’ve been experiencing over the past few years.”

Properties of Arizona: Fall 2018

Nov 1, 2018

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Russ Lyon Sotheby’s International Realty is pleased to share the latest issue of Properties of Arizona featuring extraordinary properties, a sit down with Jeff Mastro and much more!  Looking for one of the luxury homes in the latest issue Properties of Arizona?  Begin your search here.

 

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