iMaxWebSolutions.comurn:uuid:fe4604413b3bb09f470cae79b24f4f20e058354d - Blog2024-03-15T19:49:07-04:00Kathleen Sullivanurn:uuid:a33e0ec69b216aa29773488f35ab60402f8696d9Essex County March Housing Report 3/15/2024Kathleen Sullivan2024-03-15T19:49:07-04:002024-03-15T18:49:07-04:00
<h3>Essex County March Housing Report 3/15/2024</h3>
<p><span class="fontSize4"><strong>Inflation continued to rise in February keeping mortgage rates above 7%. <br /></strong></span><span class="fontSize4"><strong>It’s unlikely the Federal Reserve will lower interest rates in the near term. </strong></span></p>
<p>The Consumer Price Index (CPI) and CPI Core Inflation (CPI less food and</p>
<p>energy) Indexes both rose in February by 0.4%. This increase was mostly</p>
<p>caused by a 0.4% increase in Shelter (housing costs) and a 2.3% increase in</p>
<p>Energy costs. Annual CPI rose 3.2% and Core Inflation rose 3.8%, almost twice</p>
<p>the Federal Reserve’s goal of 2%. This dampens the Federal Reserve’s</p>
<p>motivation to lower interest rates in the near term. 30 year fixed rate mortgages</p>
<p>today were 7.09% per Mortgage News Daily.</p>
<p><strong><span style="font-size: 10pt;">Record low inventories continue to support housing prices with not much relief in</span></strong></p>
<p>sight as interest rates remain above 7% discouraging potential sellers with</p>
<p>existing low mortgage rates to sell their homes and move.</p>
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<li><span class="fontSize3">To view data for every Essex County town,<strong> </strong><strong><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</a></strong><strong><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><br /><br /></a></strong></span></li>
<li><span class="fontSize3">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports<br /><br /><img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportMarch152024Sullivan.png" alt="" width="750" height="971" /><br /></a></span></li>
</ul> urn:uuid:712588a1dc9337cbc019b5061ad4333899d7f83cEssex County February Housing Report Kathleen Sullivan2024-02-15T12:42:11-05:002024-02-15T11:42:11-05:00
<h3>Essex County February Housing Report 2/14/2024</h3>
<p><span class="fontSize4"><strong>Inflation continued to rise in January pushing mortgage rates above 7%. <br /></strong></span><span class="fontSize4"><strong>It’s unlikely the Federal Reserve will lower interest rates in the near term. </strong></span></p>
<p><span class="fontSize3">The Consumer Price Index (CPI) and CPI Core Inflation (CPI less food and energy) Indexes rose in January by 0.3% and 0.4% respectively. This increase was mostly caused by a 0.6% increase in Shelter (housing costs) and a 0.4% increase in Food. Annual CPI rose 3.1% and Core Inflation rose 3.9%, almost twice the Federal Reserve’s goal of 2%. This dampens the Federal Reserve’s motivation to lower interest rates in the near term. 30 year fixed rate mortgages today were 7.09% per Mortgage News Daily. </span><span style="font-size: 10pt;"> </span></p>
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<li><span class="fontSize3">To view data for every Essex County town,<strong> </strong><strong><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</a></strong><strong><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><br /><br /></a></strong></span></li>
<li><span class="fontSize3">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></span></li>
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<p><span class="fontSize4"><img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportJan142024Sullivan.png" alt="" width="725" height="938" /></span></p> urn:uuid:5d23c1f76ac8ecf058b0b38cc0aeeff314995834Essex County January 2024 Housing Report 1/12/ 2024Kathleen Sullivan2024-01-12T18:14:14-05:002024-02-15T11:13:48-05:00
<h3>Essex County January Housing Report 1/12/2023</h3>
<p><strong>Federal Reserve Will Likely Slow Their Drop In Interest Rates due to the</strong></p>
<p><strong>December Rise in Both the Consumer Price Index and Core Inflation</strong></p>
<p>Both the CPI and CPI Core Inflation Indexes rose by 0.3% in Dec. <span style="font-size: 10pt;"> Annual CPI rose by</span></p>
<p>3.4% and Core Inflation rose by 3.9%, almost twice the Federal Reserve’s goal of</p>
<p>2%. 30 year fixed rate mortgages today are 6.69% per Mortgage News Daily.</p>
<p><strong>Bottom Line for Singles Families, Condos and Multi-Family:</strong></p>
<p>Record low inventories continue to support housing prices, although there was a</p>
<p>softening in single family prices when comparing December to November 2023,</p>
<p>but both condos and multi-families had modest price increases.</p>
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<li><span class="fontSize4"><span class="fontSize3"><span class="fontSize4">To view data for every Essex County tow</span>n,</span><strong><span class="fontSize3"> </span><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><span class="fontSize3">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</span><br /><br /></a></strong></span></li>
<li><span class="fontSize4">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></span></li>
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<p> <img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportJan122024Sullivan.png" alt="" width="750" height="971" /></p> urn:uuid:5147df3b98537f74c82f96ff06cb16536dbefdf4Essex County December Housing Report 12/23/2023Kathleen Sullivan2023-12-23T23:02:50-05:002023-12-23T22:02:50-05:00
<h3>Essex County December Housing Report 12/23/2023</h3>
<p><strong>Federal Reserve Took A More Dovish Posture and Rates Dropped:</strong></p>
<p>At the December 13, 2023 Federal Reserve Policy Statement and News</p>
<p>Conference, the Fed indicated 3 Rate Cuts in 2024 even though the Consumer</p>
<p>Price Index Core Inflation was still running at 4%, twice the Fed’s goal of 2%. 30</p>
<p>year Mortgage Rates fell from 7.09% on 12/12/2023 to 6.62% on 12/14/2023.</p>
<p>Since 10/19/ 2023, 30 Year Mortgage Rates have fallen from 8.03% to 6.68% on</p>
<p>12/22/2023. As 92% of all outstanding mortgages are 6% or less and 82% are</p>
<p>5% or less, the housing market should improve substantially if the 30 year</p>
<p>mortgage rates drop below 6% as more sellers will list their properties For Sale.</p>
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<li><span class="fontSize4"><span class="fontSize3"><span class="fontSize4">To view data for every Essex County tow</span>n,</span><strong><span class="fontSize3"> </span><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><span class="fontSize3">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</span><br /><br /></a></strong></span></li>
<li><span class="fontSize4">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></span></li>
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<p><span class="fontSize4"><img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportDec232023Sullivan.png" alt="" width="750" height="971" /></span></p> urn:uuid:643aa510e64447bbfc385ffd6ada81790c2b8332Essex County November Housing Report 11/27/2023Kathleen Sullivan2023-11-27T17:35:08-05:002023-12-23T21:35:28-05:00
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<p><strong>Inflation Rate Is Trending Down - Positive Impact On Mortgage Rates</strong></p>
<p><span>October’s Consumer Price Index (CPI) rose 0% from prior month vs +0.4% in September. Annual CPI was +3.2% down from +4.0% in September. Core Inflation (CPI less food and energy) rose +0.2% in October down from +0.3% in September but the annual rate was +4.0%, still double the Federal Reserve’s goal of 2.0%.</span></p>
<p><span>30 Year Mortgage Rates Are 7.32% Today (Mortgage News Daily</span><span>) Mortgage rates have fallen from 7.88% a month ago. However Geopolitical problems and restrictive Federal Reserve policies continue to add upward pressure on interest rates.<br /></span><span>Buyer Upside: L</span><span>ess competition and buyers can refinance when rates fall.</span></p>
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<p><strong>Bottom Line for Singles Families , Condos and Multi-Family:</strong></p>
<p><span>Record low inventories keep Single Family home pricing firm, but there was softening in the Condo and Multi-Family Sold Prices.</span></p>
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<li><span class="fontSize4"><span class="fontSize3"><span class="fontSize4">To view data for every Essex County tow</span>n,</span><strong><span class="fontSize3"> </span><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><span class="fontSize3">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</span><br /><br /></a></strong></span></li>
<li><span class="fontSize4">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></span></li>
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<p> <img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportNov272023Sullivan.jpg" alt="" width="712" height="921" /></p>
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</div> urn:uuid:31efef4e5831f7b7f91f1d9d3c2ada1b73eaf315Essex County October Housing Report 10/16/2023Kathleen Sullivan2023-10-16T22:12:12-04:002023-10-16T21:12:12-04:00
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<h3>Essex County October Housing Report 10/16/2023</h3>
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<p><span class="fontSize4"><strong>Inflation Remains Hot<br /></strong>Consumer Price Index (CPI) rose +0.4% in September and +3.7% for 12 months. Prices were driven by rising shelter and gasoline prices. Core Inflation (CPI less food and energy) rose +0.3% in September and +4.1% for 12 months, well above the Federal Reserve goal of 2%</span></p>
<p><span class="fontSize4"><strong>30 Year Mortgage Rates Today Were 7.80% (Mortgage News Daily</strong><strong>) <br /></strong>Geopolitical problems and restrictive Federal Reserve policy adds pressure to interest rates.<br /><strong>Buyer Upside: </strong>Much less competition and buyers can refinance when rates fall.</span></p>
<p><span class="fontSize4"><strong>Record low inventory keeps home pricing firm in spite of high rates</strong></span></p>
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<li><span class="fontSize4"><span class="fontSize3"><span class="fontSize4">To view data for every Essex County tow</span>n,</span><strong><span class="fontSize3"> </span><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><span class="fontSize3">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</span><br /><br /></a></strong></span></li>
<li><span class="fontSize4">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports<img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportOct162023Sullivan.jpg" alt="" width="750" height="971" /></a></span></li>
</ul> urn:uuid:2c2de9e02b0c08645e4efb41618615d244e24c30First Time Home Buyer's GuideKathleen Sullivan2023-10-16T21:53:15-04:002023-10-16T20:53:15-04:00
<p><span class="fontSize5"><a title="First Time Home Buyer's Guide" href="https://www.mykcm.com/scripts/guide/?g=fthb&contactId=94858" rel="noopener noreferrer" target="_blank">First Time Home Buyer's Guide</a></span></p>
<p><img style="margin: 10px;" src="https://media.imaxws.com/100/FirstTimeHomebuyerguide.png" alt="" width="700" height="366" /></p>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">The process of buying a home can be overwhelming at times, but you don't need to go through it alone. You may be wondering if now is a good time to buy a home… or if you should continue renting. I put together a <a href="https://www.mykcm.com/scripts/guide/?g=fthb&contactId=94858" target="_blank"><strong>free eGuide</strong></a> for you that will answer many of your questions and likely bring up a few things you haven't even thought about yet. Just click the button below to read it now!</span></p>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;"><a href="https://www.mykcm.com/scripts/guide/?g=fthb&contactId=94858">Read Your Guide Now</a> </span></p> urn:uuid:540a7a30e8456f04072ebe6c86352563cc8a6818Essex County September Housing Report - 9-18-2023Kathleen Sullivan2023-09-18T21:38:31-04:002023-09-18T20:38:31-04:00
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<h3>Essex County September Housing Report 9/18/2023</h3>
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<p><strong>Inflation Heating Up Again</strong></p>
<p>Consumer Price Index rose 0.6% in August and is up 3.7% for 12 months. Prices driven by rising gasoline and shelter prices.</p>
<p><span>Oil Prices (West Texas Intermediate crude) Rose 15.3% in the past 30 days from $80.12. to $92.36.</span></p>
<p><strong>30 Year Mortgage Rates Today Were 7.31% (Mortgage News Daily)</strong></p>
<p><span><strong>Singles, Condos and Multi-Families:</strong></span></p>
<p>Month over Month, Prices were mixed, Units Sold rose and Active Listings fell.</p>
<p>Year over Year, Prices Rose over 10%, but Units Sold and Active Listings continue to drop double digit.</p>
<p><span>Record low housing inventory keeps pricing firm in spite of high mortgage rates.</span></p>
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<li><span class="fontSize4"><span class="fontSize3">To view data for every Essex County town,</span><strong><span class="fontSize3"> </span><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><span class="fontSize3">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</span><br /><br /></a></strong></span></li>
<li><span class="fontSize4">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></span></li>
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<p> <img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportSep182023Sullivan.jpg" alt="" width="750" height="971" /></p> urn:uuid:9e286c7af66e508b6b8c7cf04fdca3b00f98cecfEssex County August Housing Report 8/8/2023Kathleen Sullivan2023-08-08T19:56:49-04:002023-08-08T18:56:49-04:00
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<h3>Essex County August Housing Report 8/8/2023</h3>
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<p><span><strong>USA Credit Rating lowered by Fitch from AAA to AA+</strong><br />30 Year Mortgage Rates Rose to 7.2% but retreated to 7.04 Today</span></p>
<p><span><strong>Oil Prices (West Texas Intermediate) Rose 17.2% During July: from $69.79 to $81.80. </strong><br /></span>Expect inflation to rise in July. Check CPI report on 8/10/2023</p>
<p><strong>Today’s Bottom Line for Singles and Condos and Multi-Families:<br /></strong>Year over Year, Prices Rose. Units Sold, Active Listings and Inventories fell. <br />Month over Month, Prices Rose. Units Sold and Active Listings fell.</p>
<p>Record low inventory keeps pricing firm in spite of higher mortgage rates.</p>
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<li><span class="fontSize4"><span class="fontSize3">To view data for every Essex County town,</span><strong><span class="fontSize3"> </span><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><span class="fontSize3">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</span><br /><br /></a></strong></span></li>
<li><span class="fontSize4">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></span></li>
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<p> <img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportAugust82023Sullivan.jpg" alt="" width="725" height="938" /></p> urn:uuid:b22e431df9a971b95e6dc44e280ec3a03b97a428Essex County July Housing Report 7/27/2023Kathleen Sullivan2023-07-27T15:18:36-04:002023-07-27T14:18:36-04:00
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<h3>Essex County July Housing Report 7/27/2023</h3>
<p>The Federal Reserve increased the Fed Funds Rate by 0.25% to 5.5% on 7-26-2023.</p>
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<p>The 30 Year fixed rate mortgage is now 6.95% per Mortgage News Daily</p>
<p>Inventory remains at record low levels because most homeowners have lower mortgage rates and don't want to trade into a much higher mortgage rate.<br />91.8 % of homeowners have a mortgage rate below 6%, 82.4 % have a rate below 5%, 62% have a rate below 4%, and 23.5% have a rate below 3%. </p>
<p>Inflation is coming down. Consumer Price Index fell to 3% in June but Core Inflation too high - 4.8%.<br /><span>Mortgage rates are expected to start declining by the end of this year</span></p>
<p><strong>Today’s Bottom Line for Singles and Condos and Multi-Families:</strong></p>
<p><span>Year over year, Units Sales, Active Listings and Inventories continue to fall. </span></p>
<p><span>Pricing remains firm in spite of high mortgage rates due to record low inventories. </span></p>
<p><span>Month Over Month, unit sales and active listings improved as we moved into the selling season.</span></p>
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<li><span class="fontSize4"><span class="fontSize3">To view data for every Essex County town,</span><strong><span class="fontSize3"> </span><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><span class="fontSize3">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</span><br /><br /></a></strong></span></li>
<li><span class="fontSize4">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></span></li>
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<p> <img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportJuly272023Sullivan.jpg" alt="" width="700" height="906" /></p> urn:uuid:4630098811642ca28402d572b08b86be7ff75456Essex County June Housing Report 6/15/2023Kathleen Sullivan2023-06-16T14:59:15-04:002023-06-16T13:59:15-04:00
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<h3>Essex County June Housing Report 6/15/2023</h3>
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<p><span>CPI Core Inflation remains stubbornly high but is gradually declining and fell from 5.4% in April to 5.3% in May. Happily core inflation for wholesale prices, the Producer Price Index, fell from 3.3% in April to 2.8% in May. The Federal Reserve did not raise rates in June. The current 30 year conforming mortgage rate is 6.94% per Mortgage News Daily. High interest rates will keep inventory low as homeowners with very low mortgage rates are reluctant to move. Commercial Real Estate (CRE) lending is expected to remain tight as Regional Banks which hold 70% of CRE loans struggle to improve profits and liquidity.</span></p>
<p><span class="fontSize4"><strong>Today’s Bottom Line for Singles and Condos:</strong></span></p>
<p><span>Unit Sales continued to fall year over year (down 28%+ for both singles and condos). BUT, month over month unit sales rose dramatically as we moved into the Spring Market: + 32.1% for Single Family and + 44.1% for condos - </span><span>👍 </span><span>Prices were up both year over year (YOY) and month over month (MOM) </span><span>👍 </span><span>: Single Family Prices +1.9% YOY and +7.1% MOM.</span></p>
<p><span>Condos Prices +4.6% YOY and +8.3% MOM.</span></p>
<p><span class="fontSize4"><strong>Multi-Families: Units sales fell -8.7% YOY, but rose 1.3% MOM Prices fell 8.7% YOY but rose 1.3% MOM</strong></span></p>
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<li><span class="fontSize4"><span class="fontSize3">To view data for every Essex County town,</span><strong><span class="fontSize3"> </span><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><span class="fontSize3">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</span><br /><br /></a></strong></span></li>
<li><span class="fontSize4">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></span></li>
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<p> <img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportJune152023Sullivan.png" alt="" width="700" height="906" /></p> urn:uuid:c75879bbd550cf2285c341032ab8e9a3ca3fe064Essex County May 2023 Housing ReportKathleen Sullivan2023-05-19T17:32:01-04:002023-05-19T16:32:01-04:00
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<h3>Essex County May Housing Report 5/18/2023</h3>
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<p><span class="fontSize4">Core Inflation remains stubbornly high and The Federal Reserve is now expected to raise rates again in June. April Consumer Price Index (CPI) inflation was 4.9% but CPI Core Inflation (CPI less Food & Energy) was 5.5%. The current 30 year conforming mortgage rate is 6.825% per Mortgage News Daily. Rising / high interest rates will continue to dampen real estate sales. Commercial Real Estate (CRE) lending is expected to remain tight as Regional Banks which hold 70% of CRE loans struggle to improve profits and liquidity.</span></p>
<p><span class="fontSize4"><strong>Today’s Bottom Line for Singles and Condos:</strong></span></p>
<p><span class="fontSize4">Unit Sales continued to fall both year over year and month over month.<br />Single Family Prices fell 1.7% month over month and rose only 1.6% year over year.<br />Condo prices fell 4.5% both month over month and year over year.</span></p>
<p><span class="fontSize4"><strong>Multi-Families:</strong> Units sales fell -41.3% Year Over Year and -14% Month O Month However, Prices did rise +2.4% Year Over Year and +8% Month over Month as Active Listings continued to drop.</span></p>
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<ul>
<li><span class="fontSize4"><span class="fontSize3">To view data for every Essex County town,</span><strong><span class="fontSize3"> </span><a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank"><span class="fontSize3">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php</span><br /><br /></a></strong></span></li>
<li><span class="fontSize4">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></span></li>
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<p><img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportMay182023Sullivan.jpg" alt="" width="700" height="906" /> </p> urn:uuid:74566e27ccccc600ef309fc5f645aaf83a6190f3Stress-Free Home CleaningKathleen Sullivan2023-04-26T16:02:05-04:002023-04-26T15:02:05-04:00
<h4 align="center"><strong>Stress-Free Home Cleaning: 27 Practical Tactics for Busy Households</strong></h4>
<h4 align="center"><img style="margin: 10px;" src="https://media.imaxws.com/100/April2023-MVP-BlogPostImage.jpg" alt="" width="750" height="393" /> </h4>
<p><span class="fontSize4">Keeping a clean and orderly home is a challenge for many of us. Between busy work schedules, social obligations, and family commitments, it’s tough to keep up with daily chores—let alone larger seasonal tasks.</span></p>
<p><span class="fontSize4">The effort is worthwhile, however. A sanitary environment can keep you and your family healthier by minimizing your exposure to germs and allergens.<sup>1</sup> Plus, researchers have found that organized, uncluttered homes have quantifiable mental health benefits, too, including reduced stress, improved emotional regulation, and increased productivity.<sup>2 </sup></span></p>
<p><span class="fontSize4">The reality is, we enjoy our homes more when they are in good order. It’s much easier to relax without piles of unopened mail or a messy kitchen reminding us of work to be done. And don’t we all feel more inclined to entertain family and friends when our homes are well-kept?</span></p>
<p><span class="fontSize4">That’s why we’ve rounded up our favorite tactics—from overall strategies to little tips and tricks—for keeping things tidy without spending all our spare time cleaning. </span></p>
<p><span class="fontSize4"><strong style="font-size: 10pt;">Set a Schedule for Daily and Weekly Cleaning</strong></span></p>
<p><span class="fontSize4">We’ve all been there—you put off vacuuming or mopping your floor for a few days, only to realize that weeks have passed. Creating a cleaning schedule that works for you is the best way to stay on top of things and avoid overwhelm. Here are a few of our favorite strategies:</span></p>
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<li><span class="fontSize4">Designate a day of the week for each task—then, add them to your calendar so you can’t forget. </span></li>
<li><span class="fontSize4">Create a shared schedule that assigns specific responsibilities to each member of the household. Post it in a prominent place, like on the refrigerator, or create a shared digital calendar.</span></li>
<li><span class="fontSize4">Carve out 15 minutes a day for cleaning and decluttering. Set a timer on your phone and get as much done as you can before it goes off. </span></li>
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<p><span class="fontSize4">It may take some trial and error to find the tactics that work best for you. The most important thing is to make a habit of cleaning so that clutter and grime don’t have a chance to build. And if you’d like some professional help, reach out for a referral to one of our favorite cleaning services!</span></p>
<p><span class="fontSize4"><strong>Tackle Bigger Chores Seasonally</strong></span></p>
<p><span class="fontSize4">Many home care tasks are seasonal by nature and only need to be completed once or twice a year. But when we don’t have a plan to tackle them, it’s all too easy to put them off. Here are a few tips to stay on top of these chores:</span></p>
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<li><span class="fontSize4">Mark days on your calendar in advance to attend to annual or semi-annual chores, like cleaning gutters, washing windows, turning mattresses, and shampooing carpets.</span></li>
<li><span class="fontSize4">Schedule just one primary task each weekend instead of blocking out a full two days. This will help ensure a good balance between chores and relaxation. </span></li>
<li><span class="fontSize4">Designate a date two to four times a year, depending on your lifestyle, to put away out-of-season items like clothes, holiday decorations, and sporting goods.</span></li>
<li><span class="fontSize4">Take some time to sort through your seasonal items when you pack them away. Then you can toss, sell, or donate items that you no longer need or enjoy. </span></li>
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<p><span class="fontSize4">Remember—breaking down these larger tasks can make them less overwhelming. If you space them out so that you can handle them one by one, even the most time-consuming chores become a lot more manageable.</span></p>
<p><span class="fontSize4">And since all your time is valuable, don't hesitate to delegate these larger home care tasks to professionals. Give us a call for a list of our recommended service providers.</span></p>
<p><span class="fontSize4"><strong>Reduce the Barriers to Cleaning</strong></span></p>
<p><span class="fontSize4">Set yourself up for success by ensuring you have the tools on hand to tackle small tasks with ease. Here are a few ways to make your cleaning supplies more accessible:</span></p>
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<li><span class="fontSize4">Store a broom, dustpan, and vacuum on each floor of your home so they’re easy to reach.</span></li>
<li><span class="fontSize4">Stash containers of disinfecting and glass wipes under every sink for a mid-week wipe-down.</span></li>
<li><span class="fontSize4">Place extra bags beneath the liner of your garbage pails, so you’ll have a replacement ready when you take out the trash.</span></li>
<li><span class="fontSize4">Keep a paper shredder and recycling bin handy so you can dispose of unwanted mail as it’s opened.</span></li>
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<p><span class="fontSize4">By strategically placing your tools and supplies in the locations where you’re most likely to need them, you’ll make cleaning less of a chore and more of a habit.</span></p>
<p><span class="fontSize4"><strong style="font-size: 10pt;">Stop the Clutter Before It Starts</strong></span></p>
<p><span class="fontSize4">From coats to shoes to mail, it’s all too easy to find clutter taking over your home. Once these piles start to form, they can feel overwhelming—which only makes it harder to address them. </span></p>
<p><span class="fontSize4">To avoid this problem, stop the clutter before it starts. Assign every item a home and create storage spaces and “drop zones” in key locations.<sup>3 </sup>Here are a few ideas to get you started:</span></p>
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<li><span class="fontSize4">Install coat hooks and shoe racks in the entryway for easy access.</span></li>
<li><span class="fontSize4">Add a key caddy or shelf for essential items to get you out the door.</span></li>
<li><span class="fontSize4">Hang a letter bin to capture mail and newspapers as soon as you walk into the house.</span></li>
<li><span class="fontSize4">Place a donation box in each closet for items you no longer want or need.</span></li>
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<p><span class="fontSize4">It can take a little time to get in the habit of returning items to their assigned space. But once you do, staying on top of clutter will become far more manageable. </span></p>
<p><span class="fontSize4">Are you considering a larger organizational upgrade, like a custom closet or pantry system? Reach out for a free consultation to find out how the investment could impact the value of your home!</span></p>
<p><span class="fontSize4"><strong>Tackle Small Tasks Right Away</strong></span></p>
<p><span class="fontSize4">Sometimes, the mental load of thinking about a chore you need to do is worse than the chore itself. Plus, handling small tasks right away can reduce the need for lengthy cleaning sessions.<sup>3 </sup></span></p>
<p><span class="fontSize4">Try working these changes into your routine:</span></p>
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<li><span class="fontSize4">Learn to clean as you cook, rather than piling it all up for later. As you wait for water to boil or food to cook through, wash the bowls and utensils you used for prep.</span></li>
<li><span class="fontSize4">Hang bath towels on a bar immediately after use. By allowing them to properly air dry, you can cut down on the frequency of laundering.</span></li>
<li><span class="fontSize4">Bring items with you when you leave a room. For example, return plates and cups to the kitchen right away rather than letting them stack up in your home office. </span></li>
<li><span class="fontSize4">Take out the trash when you leave for work, school drop-off, or errands. This will save you the time and hassle of a second trip.</span></li>
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<p><span class="fontSize4">If you implement these small changes, your home will stay neater—and you’ll minimize the number of dedicated cleaning sessions you need to take on each week.</span></p>
<p><span class="fontSize4"><strong>Embrace an Evening “Shutdown” Routine</strong> </span></p>
<p><span class="fontSize4">Kitchens can get dirty and cluttered fast. But a few minutes spent cleaning up each evening can prevent the mess from getting out of control.<sup>4</sup></span></p>
<p><span class="fontSize4">Imagine your kitchen is a restaurant and you’re tidying it up before closing down for the night. These simple steps will prepare you for the morning rush: </span></p>
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<li><span class="fontSize4">Wipe down all surfaces, including countertops, stove, microwave, and sink. Then toss your soiled washcloth in the hamper and lay out a fresh one for tomorrow.</span></li>
<li><span class="fontSize4">Load and run the dishwasher every night so you can empty it the next morning.</span></li>
<li><span class="fontSize4">Prepare for breakfast by programming your coffee pot and setting out some grab-and-go options.</span></li>
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<p><span class="fontSize4">We all know it can be hard to find the energy for chores in the evening. But if you complete these small tasks each night, you’ll start the next day off right in a tidy, clean kitchen.</span></p>
<p><span class="fontSize4"><strong>Think Outside of the Box When It Comes to Storage</strong></span></p>
<p><span class="fontSize4">Most of us have limited storage space. Unfortunately, without the right spots to stash our items, it’s easy to become disorganized. </span></p>
<p><span class="fontSize4">But we’ve found that using household items in innovative ways can help keep mess and clutter under control.<sup>5</sup> Here are a few of our favorite swaps:</span></p>
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<li><span class="fontSize4">Place a magazine file in your kitchen for cookbooks, takeout menus, and meal kit cards.</span></li>
<li><span class="fontSize4">Hang a pocket-style shoe organizer inside your pantry door to store granola bars, spice jars, and other small items.</span></li>
<li><span class="fontSize4">Separate dress and athletic socks by turning an old shoe box into a drawer divider.</span></li>
<li><span class="fontSize4">Repurpose jam jars by using them to store office supplies or bathroom essentials.</span></li>
<li><span class="fontSize4">Store out-of-season clothes inside rarely-used suitcases, so all that space doesn’t go to waste. </span></li>
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<p><span class="fontSize4">A little creativity goes a long way when it comes to making the most of your space. Just be sure that you’re creating systems you can stick with and not putting things where you might forget about them later!</span></p>
<p><span class="fontSize4"><strong>WE’RE HERE TO HELP YOU MAKE THE MOST OF YOUR HOME</strong></span></p>
<p><span class="fontSize4">Keeping your home clean and organized can be a continuous struggle—there’s no need to feel ashamed of that. But taking the time to implement systems that work for you can make life more pleasant and less stressful in the long run.</span></p>
<p><span class="fontSize4">Remember, we’re not just here to help you buy or sell a home. We want you to love living in it, too. Reach out if you need referrals for house cleaners, window washers, or other service providers that can help you make the most of your space. </span></p>
<p><span class="fontSize4"><em>The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.</em></span></p>
<p><span class="fontSize4">Sources:</span></p>
<ol>
<li><span class="fontSize4">Healthline -</span><br /><span class="fontSize4"><a href="https://www.healthline.com/health-news/5-health-benefits-of-spring-cleaning">https://www.healthline.com/health-news/5-health-benefits-of-spring-cleaning</a></span></li>
<li><span class="fontSize4">Forbes - </span><br /><span class="fontSize4"><a href="https://www.forbes.com/health/mind/mental-health-clean-home/">https://www.forbes.com/health/mind/mental-health-clean-home/</a> </span></li>
<li><span class="fontSize4">My Domaine - </span><br /><span class="fontSize4"><a href="https://www.mydomaine.com/house-cleaning-schedule">https://www.mydomaine.com/house-cleaning-schedule</a></span></li>
<li><span class="fontSize4">Housewife How-Tos - </span></li>
</ol>
<p><span class="fontSize4"><a href="https://housewifehowtos.com/clean/10-tips-to-keeping-a-clean-house/">https://housewifehowtos.com/clean/10-tips-to-keeping-a-clean-house/</a></span></p>
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<li><span class="fontSize4">Better Homes and Gardens - </span></li>
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<p><span class="fontSize4"><a href="https://www.bhg.com/decorating/storage/projects/simple-solutions/">https://www.bhg.com/decorating/storage/projects/simple-solutions/</a></span></p> urn:uuid:0153e0d2824bc856f7ada42d4e9d42e7b4402ab4Essex County April 2023 Housing ReportKathleen Sullivan2023-04-15T12:03:37-04:002023-04-15T11:03:37-04:00
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<h3><span>Essex County March Housing Report 4/14/2023</span></h3>
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<p><span>The March Banking Crises has subsided and the lingering effect is reduced availability of commercial loans. Inflation continues to decline and the 30 year conforming mortgage rate per Mortgage News Daily, now 6.5%, will likely drift lower particularly if the Federal Reserve tempers its rate increases if we enter a mild recession later this year, likely the 3rd and 4th quarters.</span></p>
<p><span><strong>Today’s Bottom Line for Singles and Condos:</strong><br /></span>Both units sales (+ 35.7%) and prices (+ 9%) surged from February to March as we entered the Spring Market and inventory remained tight. March Year Over Year prices rose +7.3% but units sales fell -9.4% from last year.</p>
<p><span><strong>Multi-Families:</strong> </span><span>Both units sales (-23.2%) and prices (-7.4%) fell Year Over Year. Prices also fell -1.5% from Feb to March but unit sales rose +10.3%.</span></p>
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<ul>
<li><span class="fontSize3">To view data for every Essex County town,</span><strong><span class="fontSize3"> <a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php<br /><br /></a></span></strong></li>
<li>To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></li>
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<p><img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportApril142023Sullivan.png" alt="" width="725" height="938" /></p> urn:uuid:39de3b290c62526c50dfc0bbffe7215368ba1c04Essex County March Housing Report 3/14/2023Kathleen Sullivan2023-03-14T21:15:45-04:002023-03-14T20:15:45-04:00
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<p><span>Between Friday, March 10 and Monday, March 13, the second and third largest US Bank failures occurred, #2 Silicon Valley Bank (SVB) and #3 Signature Bank, arising from the Fed’s rapid rise in interest rates which dramatically reduced the value of all banks long term investment bonds / notes. These bank failures resulted in a flight to safety by investors to US Treasuries and drove down their interest rates. The odd beneficiary was the 30 year fixed rate mortgage which fell from 7% on Friday to 6.57% on Monday. Rates rose Tuesday, March,14, to 6.75% as the banking crises eased ( Mortgagee rates per Mortgage News Daily).</span></p>
<p><span>Federal Reserve conundrum: </span><span>Keep fighting inflation by increasing rates and possibly generating more bank failures or backing off on their rate increases for now. The Consumer Price Index today was up 0.5% in February and 6% for the year. The Federal Reserve’s goal of 2% inflation.</span></p>
<p><strong>Today’s Bottom Line for Singles, Condos and Multies:</strong></p>
<p><span>Units Sales and Active Listings continue to fall both year over year and month over month as mortgage rates rise. Prices softened from Jan to Feb.</span></p>
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<li><span class="fontSize3">To view data for every Essex County town,</span><strong><span class="fontSize3"> <a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php<br /><br /></a></span></strong></li>
<li>To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></li>
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<p><img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportMarch142023Sullivan.jpg" alt="" width="750" height="971" /></p> urn:uuid:28d43bd59ed73a2ece6a897ad494c0d2712b84b4Essex County Housing Report February 10, 2022Kathleen Sullivan2023-02-11T11:21:57-05:002023-02-22T09:28:26-05:00
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<h4><span>Essex County February Housing Report 2/10/2023</span></h4>
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<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">As the Federal Reserve is trying to slow the economy, it was disappointed that the January Employment Report was much better than expected - 517,000 jobs added, twice the forecast, and the unemployment rate fell from 3.5% to 3.4%. The Federal Reserve increased the Federal Funds Rate by 0.25% to the 4.5% - 4.75% range and indicated it will continue to raise rates to slow inflation by slowing the economy. Wall Street thinks the Fed Funds Rate could rise to 6%. The conforming 30 year mortgage rate rose from 6% on Feb 2 to 6.5% today per Mortgage News Daily</span></p>
<h4><span>Bottom Line for Singles and Condos:</span></h4>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">Sales activity continues to slow as the Fed fights inflation by raising rates to slow demand.<br />January Year over Year Singles and Condos: Sold Prices fell -0.8%, Units Sales fell -33.7%, and the Number of Active Listings barely rose, +0.03%. Months of Inventory rose significantly as Unit Sales fell substantially even though Active Listings barely rose.</span></p>
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<li style="text-align: left;"><span class="fontSize3">To view data for every Essex County town,</span><strong><span class="fontSize3"> <a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php<br /><br /></a></span></strong></li>
<li style="text-align: left;">To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports</a></li>
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</div> urn:uuid:5418d8500eb12af19b6b1ba42b93c3d89218d77cTop 6 Home Design Trends To Watch in 2023Kathleen Sullivan2023-02-09T15:20:26-05:002023-02-09T16:22:43-05:00
<h3>Top 6 Home Design Trends To Watch in 2023</h3>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">Over the past few years, many of us have spent extra time at home—and that means we appreciate the personal design touches that make a house cozy and comfortable more than ever. Some of us have adapted our dwellings in new ways, from creating functional home offices to upgrading the appliances we use most. <br /><br />But while it’s important to make your home your own, it’s also smart to think about the long-term impact your renovations could have on its value. Choosing highly-personalized fixtures and finishes can make it harder for future homebuyers to envision themselves in the space. Even if you don’t plan to sell your home soon, investing in popular design choices that are likely to stand the test of time will make things easier down the road. <br /><br />And if you’re in the market for a new home, it’s wise to keep an eye out for features that might need to be updated soon so you can factor renovation costs into your budget. <br /><br />We’ve rounded up six trends that we think will influence interior design in 2023, as well as ideas for how you might incorporate them in your own home. Remember, before taking action, it’s always wise to consult with a real estate professional to understand how specific updates and upgrades will affect your property’s value in your local market.</span></p>
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<h4><span style="color: #000000;"><strong>Separate Kitchen, Dining and Living Areas</strong></span></h4>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">For years, home design has been dominated by open-concept floor plans, particularly for kitchen, dining, and living areas. However, as the pandemic forced families to work and study from home, many struggled to find the privacy and separation they needed. As a result, designers report that more families are choosing to bring back kitchen and dining room walls to break up the space and create quieter areas.<sup>1</sup></span></p>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">That doesn’t mean that we’re returning to an era of dark and cramped spaces, however. Even as walls make a return, it’s important to take care to retain a sense of flow and openness within the home and to prioritize natural light. </span></p>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">If you’re buying or building a new home, consider how you will use the space and whether or not an open floor plan will suit your needs. If you already live in a home with an open floor plan and it isn’t working for you, try rearranging furniture and strategically placing pieces like bookshelves, room dividers, or rugs to create distinct areas within the home and reduce noise.</span></p>
<div><a href="https://www.houzz.com/photos/rocky-ledge-dining-room-transitional-dining-room-boston-phvw-vp~215248" rel="follow" target="_blank"><img src="https://st.hzcdn.com/simgs/pictures/dining-rooms/rocky-ledge-dining-room-lda-architecture-and-interiors-img~3b61195f0e287d3a_8-9255-1-e209a16.jpg" alt="" width="500" height="334" border="0" /></a></div>
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<div style="color: #444;"><small><a style="text-decoration: none; color: #444;" href="https://www.houzz.com/professionals/architects-and-building-designers/lda-architecture-and-interiors-pfvwus-pf~1476490215" target="_blank">Photo by LDa Architecture & Interiors</a> - <a style="text-decoration: none; color: #444;" href="https://www.houzz.com/photos/dining-room-ideas-phbr0-bp~t_722" target="_blank">Browse dining room photos</a></small></div>
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<h4 style="color: #444;"><span style="font-family: arial, helvetica, sans-serif;"><strong>Nature-Inspired Design<br /><br /></strong></span></h4>
<div style="color: #444;"><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">In the past few years, we’ve seen the “biophilia” trend explode, and there are no signs that it will be any less popular in 2023.<sup>2</sup> This trend is all about bringing the outside in by adding natural touches throughout your home. <br /><br /></span><span style="font-family: arial, helvetica, sans-serif; font-size: medium;">This year, design experts predict that natural, sustainable materials like bamboo, cork, and live-edge wood will lend character without being overwhelming. Wooden kitchen cabinets and islands will become more common in 2023, with white oak and walnut among the most popular choices.</span><sup style="font-family: arial, helvetica, sans-serif;">3,4 </sup><span style="font-family: arial, helvetica, sans-serif; font-size: medium;">Wood will also appear in bathroom vanities and shelving and furniture throughout the home. <br /><br /></span><span style="font-family: arial, helvetica, sans-serif; font-size: medium;">Colors inspired by nature (think mossy greens and desert tones) will also play into this trend and will blend seamlessly with wood tones. We’re also seeing a return to natural stone countertop materials like quartzite, marble, dark leathered granite, and soapstone.</span><sup style="font-family: arial, helvetica, sans-serif;">4,5<br /><br /></sup><span style="font-family: arial, helvetica, sans-serif; font-size: medium;">If you’re planning to add new shelving or redo your kitchen, consider turning to these materials to embrace the biophilic look. Or, incorporate elements of the trend by choosing nature-inspired paint colors and adding to your houseplant collection.</span></div>
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<div><a href="https://www.houzz.com/photos/aspen-mountain-modern-rustic-living-room-denver-phvw-vp~6564698" rel="follow" target="_blank"><img src="https://st.hzcdn.com/simgs/pictures/living-rooms/aspen-mountain-modern-savant-design-group-img~6ae1ad1f0273c2d0_8-6265-1-6583422.jpg" alt="" width="500" height="334" border="0" /></a></div>
<div style="color: #444;"><small><a style="text-decoration: none; color: #444;" href="https://www.houzz.com/professionals/interior-designers-and-decorators/savant-design-group-pfvwus-pf~755100341" target="_blank">Photo by Savant Design Group</a> - <a</small></div>
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<h4 style="color: #444;"><span style="font-family: arial, helvetica, sans-serif;"><strong>Ligh</strong></span><span style="font-family: arial, helvetica, sans-serif;"><strong>ting</strong></span><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;"><strong> as a Design Feature</strong></span></h4>
<p style="color: #444;"><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">Spending more time at home has shown us the importance of having the right lighting for specific tasks and times of the day. As a result, many homeowners are reconsidering the ways they light their homes and using light fixtures to change the usability and mood of their spaces.<sup>5<br /><br /></sup></span><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">In particular, homeowners are rejecting bright, flat overhead lighting and replacing it with lamps and task-specific options. A layered approach to lighting—such as using a combination of under-cabinet, task, and ambient lighting in a kitchen—enables homeowners to tweak the level of light they’re using based on the time of day and what they are doing. <br /><br /></span><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">In 2023, we expect to see more statement chandeliers, pendants, and wall sconces in a variety of shapes and materials.<sup>6 </sup>Thinking about switching up the lighting in your home? Start by adding floor or table lamps and swapping out fixtures before you invest in rewiring your space. Take note of what works and what doesn’t and watch how the light in your home changes throughout the day. You can then use that information to make lighting decisions that require a bigger investment. </span></p>
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<div><a href="https://www.houzz.com/photos/bergen-street-residence-transitional-living-room-new-york-phvw-vp~82005" rel="follow" target="_blank"><img src="https://st.hzcdn.com/simgs/pictures/living-rooms/bergen-street-residence-cwb-architects-img~96a1e5d40cd409c0_8-4045-1-5071281.jpg" alt="" width="500" height="410" border="0" /></a></div>
<div style="color: #444;"><small><a style="text-decoration: none; color: #444;" href="https://www.houzz.com/professionals/architects-and-building-designers/the-brooklyn-studio-pfvwus-pf~503411096" target="_blank">Photo by The Brooklyn Studio</a> - <a style="text-decoration: none; color: #444;" href="https://www.houzz.com/photos/living-room-ideas-phbr0-bp~t_718" target="_blank">Search living room design ideas</a></small></div>
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<h4 style="color: #444;"><span style="font-family: arial, helvetica, sans-serif;"><strong>More Vibrant Color Palettes</strong></span></h4>
<p style="color: #444;"><span style="font-family: arial, helvetica, sans-serif;"><span class="fontSize4">After the long dominance of whites and grays, more vibrant colors are coming back as a way to add character and dimension to homes. <br /><br /></span></span><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">This year, warm and earthy neutrals, jewel tones, and shades of red and pink are particularly popular.<sup>7,8</sup> If your style tends toward the subtle, consider options like light, calming greens, blues, and pastels.<br /><br /></span><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">Major paint brands have responded to these homeowner preferences with their newest releases. Benjamin Moore’s 2023 color of the year, Raspberry Blush, is a lively shade of pinkish coral, while Sherwin William is embracing warm neutrals with Redend Point, a blushing beige.<sup>9,10 </sup>Behr’s choice of the year, Blank Canvas, is a creamy off-white that's a warmer version of the stark whites that have been trending over the past few years.<sup>11<br /><br /></sup></span><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">If you’re planning to put your home on the market soon, it’s better to play on the safer side and avoid extremely bold or bright color choices when it comes to paint or fixed finishes like tile and countertops. Instead, try incorporating pops of color through throw pillows, art, and accessories.</span></p>
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<div><a href="https://www.houzz.com/photos/yeo-street-neutral-bay-contemporary-bedroom-los-angeles-phvw-vp~14349695" rel="follow" target="_blank"><img src="https://st.hzcdn.com/simgs/pictures/bedrooms/yeo-street-neutral-bay-touch-interiors-by-bronwyn-poole-img~7791e04103b8f26a_8-2241-1-39c23a8.jpg" alt="" width="500" height="316" border="0" /></a></div>
<div style="color: #444;"><small><a style="text-decoration: none; color: #444;" href="https://www.houzz.com/professionals/interior-designers-and-decorators/touch-interiors-by-bronwyn-poole-pfvwau-pf~562214035" target="_blank">Photo by Touch Interiors by Bronwyn Poole</a> - <a style="text-decoration: none; color: #444;" href="https://www.houzz.com/photos/bedroom-ideas-and-designs-phbr0-bp~t_715" target="_blank">Discover bedroom design ideas</a></small></div>
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<h4 style="color: #444;"><strong>Curved Furniture and Architectural Accents</strong></h4>
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<div style="color: #444;"><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">Goodbye, sharp corners. In 2023, arches and curves lend a sleek feel that draws on classical design and retro trends while remaining modern.<sup>5,8</sup> Rounded corners feel more relaxed and natural than sharp edges, lending more of a sense of flow and comfort to a home. </span></div>
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<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">If you want to incorporate the trend into your new build or remodeling plans, curved kitchen islands and bars and arched alcoves are all good options—or you can take it a step further with arched windows and doorways. You can also carry this trend through to your light fixtures by incorporating a bubble chandelier or globe pendants.</span></p>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">It’s easy to embrace this look without renovations, too. Look for a softer feel in furniture, with sofas, chairs, and tables that showcase curved edges. Or, break up your space with an arched folding screen and a circular rug.</span></p>
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<div><a href="https://www.houzz.com/photos/the-49th-symphony-designers-showhouse-in-kansas-city-transitional-living-room-kansas-city-phvw-vp~123615117" rel="follow" target="_blank"><img src="https://st.hzcdn.com/simgs/pictures/living-rooms/the-49th-symphony-designers-showhouse-in-kansas-city-wilson-lighting-img~19c15b980b4f51ac_8-0511-1-c5dbe4b.jpg" alt="" width="500" height="330" border="0" /></a></div>
<div style="color: #444;"><small><a style="text-decoration: none; color: #444;" href="https://www.houzz.com/professionals/lighting-showrooms-and-sales/wilson-lighting-pfvwus-pf~59995842" target="_blank">Photo by Wilson Lighting</a> - <a style="text-decoration: none; color: #444;" href="https://www.houzz.com/photos/living-room-ideas-phbr0-bp~t_718" target="_blank">Look for living room pictures</a></small></div>
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<h4 style="color: #444;"><strong>Art Deco Revival</strong></h4>
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<div style="color: #444;"><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">Art Deco, the architecture and design style that took hold in the 1920s and ’30s, is enjoying a resurgence.<sup>12</sup></span></div>
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<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">As a style, Art Deco is marked by bold geometry, textures, and colors, as well as an emphasis on art. But the 2023 interpretation of this style is likely to be a bit less splashy than its historical roots. Designers predict that instead of incorporating all of the elements of the style, which could feel overwhelming, homeowners will pick bursts of color or bold accessories to bring some whimsy to their space. </span></p>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">Keep an eye out for vintage mirrors, lamps, or vases that bring a touch of Art Deco glam to your home, or embrace bold colors and fabrics like velvet. Choose pillows and throw blankets in bright colors and geometric patterns to nod to the look without diving in all the way. </span></p>
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<div><a href="https://www.houzz.com/photos/art-deco-condo-contemporary-living-room-san-francisco-phvw-vp~8167747" rel="follow" target="_blank"><img src="https://st.hzcdn.com/simgs/pictures/living-rooms/art-deco-condo-favreau-design-img~d951b58702df1018_8-5591-1-fdaf02a.jpg" alt="" width="500" height="330" border="0" /></a></div>
<div style="color: #444;"><small><a style="text-decoration: none; color: #444;" href="https://www.houzz.com/professionals/interior-designers-and-decorators/favreau-design-pfvwus-pf~1476404507" target="_blank">Photo by Favreau Design</a> - <a style="text-decoration: none; color: #444;" href="https://www.houzz.com/photos/living-room-ideas-phbr0-bp~t_718" target="_blank">Browse living room photos</a></small></div>
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<h4><strong>DESIGNED TO SELL</strong></h4>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">Are you thinking about remodeling or making significant design changes to your home? Wondering how those changes might impact your future resale value? </span></p>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">Buyer preferences vary significantly based on your home’s neighborhood and price range. We’re happy to share our insights on the upgrades that will make it easier (or more difficult!) to sell your home. Give us a call for a free consultation!</span></p>
<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;"><em>The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.</em></span> </p>
<h4>Sources:</h4>
<ol>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">US News and World Report - <a href="https://realestate.usnews.com/real-estate/slideshows/interior-design-trends-for-2023?slide=2">https://realestate.usnews.com/real-estate/slideshows/interior-design-trends-for-2023?slide=2</a></span></li>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">Architectural Digest - </span></li>
</ol>
<p><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;"><a href="https://www.architecturaldigest.com/story/design-trends-in-2023">https://www.architecturaldigest.com/story/design-trends-in-2023</a></span></p>
<ol>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">Insider - </span></li>
</ol>
<p><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;"><a href="https://www.insider.com/popular-home-decor-trends-for-2023-according-to-experts-2022-10#dont-be-surprised-by-wood-in-the-kitchen-7">https://www.insider.com/popular-home-decor-trends-for-2023-according-to-experts-2022-</a></span></p>
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<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">Houzz - </span></li>
</ol>
<p><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;"><a href="https://www.houzz.com/magazine/35-home-design-trends-on-the-rise-in-2023-stsetivw-vs~164032473">https://www.houzz.com/magazine/35-home-design-trends-on-the-rise-in-2023-stsetivw-vs~164032473</a></span></p>
<ol>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">The Spruce - </span></li>
</ol>
<p><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;"><a href="https://www.thespruce.com/2023-design-trends-6743803">https://www.thespruce.com/2023-design-trends-6743803</a></span></p>
<ol>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">The Spruce - </span></li>
</ol>
<p><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;"><a href="https://www.thespruce.com/2023-lighting-trends-6891412">https://www.thespruce.com/2023-lighting-trends-6891412</a></span></p>
<ol>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">The Spruce - </span></li>
</ol>
<p><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;"><a href="https://www.thespruce.com/2023-color-trends-6751137">https://www.thespruce.com/2023-color-trends-6751137</a></span></p>
<ol>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">Good Housekeeping - <a href="https://www.goodhousekeeping.com/home/decorating-ideas/g42084756/interior-design-trends-2023/">https://www.goodhousekeeping.com/home/decorating-ideas/g42084756/interior-design-trends-2023/</a></span></li>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">Benjamin Moore -</span><br /><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;"><a href="https://www.benjaminmoore.com/en-us/paint-colors/color/2008-30/raspberry-blush">https://www.benjaminmoore.com/en-us/paint-colors/color/2008-30/raspberry-blush</a></span></li>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">Sherwin Williams - </span><br /><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;"><a href="https://www.sherwin-williams.com/content/colorforecast/colormix-2023/color-of-the-year-2023">https://www.sherwin-williams.com/content/colorforecast/colormix-2023/color-of-the-year-2023</a></span></li>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">Behr -</span><br /><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;"><a href="https://www.behr.com/consumer/inspiration/2023-coty/">https://www.behr.com/consumer/inspiration/2023-coty/</a></span></li>
<li><span class="fontSize3" style="font-family: arial, helvetica, sans-serif;">The Spruce - </span></li>
</ol>
<p><a href="https://www.thespruce.com/art-deco-trend-for-2023-7092174">https://www.thespruce.com/art-deco-trend-for-2023-7092174</a></p>
<p> </p> urn:uuid:a6d1ebf9b54e9829ef3de28f39e66c4c8671396dEssex County Housing Report January 14, 2022Kathleen Sullivan2023-01-14T20:45:28-05:002023-01-14T22:50:54-05:00
<p><strong>Essex County Housing Report January 14, 2022</strong></p>
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<p><span>Inflation continues to slow, but remains well above the Federal Reserve’s target of 2%. Federal Reserve will continue its anti-inflationary policies. December CPI (Consumer Price Index) fell to 6.5% from 7.1% in November. Core Inflation, all items index less food and energy, was 5.7%</span></p>
<p><span>Mortgage Rates are trending down; Conforming 30 Year Fixed now 6.09%.</span></p>
<p><strong>Bottom Line:</strong></p>
<p><span>Housing, Single Families and Condos, sales activity continues to slow as the Fed fights inflation. December Year over Year: Sold Price increases slowed, +2.8%, Units Sales fell -32.5%, Active Listings fell -6.5%.</span></p>
<p><strong>Month Over Month, December 2022 vs November 2022</strong></p>
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<p><span>Median Sold Prices:</span><span> </span></p>
<p><span>Single Families -10%; Condos -.01%; Multi-Families -3%</span></p>
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<p><span>Unit Sales: </span><span> </span></p>
<p><span>Single Families -8.4%, Condos -24.2%, Multi-Families -5.7%</span></p>
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<p><span>Active Listings:</span><span> </span></p>
<p><span>Single Families -30.1%, Condos -19.9%, Multi-Families -27.9%</span></p>
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<p><span>Current Months of Inventory: </span><span> </span></p>
<p><span>Single Families 1.3, Condos 1.6, Multi-Families 2</span></p>
<p><strong>Year Over Year, December 2022 vs December 2021</strong></p>
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<p><span>Median Sold Prices: </span><span> <br /></span><span>Single Families -2.5%; Condos +13.4%; Multi-Families -1.5%</span></p>
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<p><span>Unit Sales:</span><span> <br /></span><span>Single Families -27.9% , Condos -41.9%, Multi-Families -55%.</span></p>
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<p><span>Active Listings:</span><span> <br /></span><span>Single Families -2.1%; Condos -14.3%; Multi-Families -7.3%</span></p>
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<p><span>Change in Months of Inventory:</span><span> <br /></span><span>Single Families +44.4%, Condos +45.5%, Multi-Families +100%.</span><span> <br /></span><span>Terry Sullivan</span></p>
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<li><span><span><br /></span></span>
<ul>
<li><span class="fontSize3">To view data for every Essex County town, go to</span><strong><span class="fontSize3">: <a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php<br /><br /></a></span></strong></li>
<li>To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports<br /></a></li>
</ul>
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<li><span><img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportJan142022Sullivan.jpg" alt="" width="700" height="906" /></span></li>
</ul>
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</div> urn:uuid:39666366340cd331a2f21cf5c28ef78def31583dHousing Market Forecast 2023Kathleen Sullivan2022-12-23T13:49:52-05:002022-12-23T13:49:52-05:00
<h3 class="kcm-post-minimal-title">What To Expect From the Housing Market in 2023</h3>
<p><br />The 2022 housing market has been defined by two key things: inflation and rapidly rising <a title="mortgage rates" href="https://www.simplifyingthemarket.com/2022/11/09/whats-ahead-for-mortgage-rates-and-home-prices/?a=94858-3ff8632793c2daa3b43ac572ed4a1def" rel="noopener noreferrer" target="_blank">mortgage rates</a>. And in many ways, it's put the market into a reset position.</p>
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<p>As the<span> Federal Reserve </span>(the Fed) made moves this year to try to lower inflation, mortgage rates more than <a title="doubled" href="https://www.freddiemac.com/research/forecast/20221021-quarterly-forecast-rapidly-rising-rates-declining-demand-driving-housing-market" rel="noopener noreferrer" target="_blank">doubled</a> – something that’s never happened before in a calendar year. This had a cascading impact on buyer activity, the balance between <a title="supply and demand" href="https://www.simplifyingthemarket.com/2022/11/23/what-buyers-need-to-know-about-the-inventory-of-homes-available-for-sale/?a=94858-3ff8632793c2daa3b43ac572ed4a1def" rel="noopener noreferrer" target="_blank">supply and demand</a>, and ultimately home prices. And as all those things changed, some buyers and sellers put their plans on hold and decided to wait until the market felt a bit more predictable.</p>
<p>But what does that mean for next year? What everyone really wants is more stability in the market in 2023. For that to happen we’ll need to see the Fed bring inflation down even more and keep it there. Here’s what housing market experts say we can expect next year.</p>
<h4><strong>What’s Ahead for Mortgage Rates in 2023?</strong></h4>
<p>Moving forward, experts agree it’s still going to be all about inflation. If inflation is high, mortgage rates will be as well. But if inflation continues to fall, <a title="mortgage rates" href="https://www.simplifyingthemarket.com/2022/11/21/mortgage-rates-will-come-down-its-just-a-matter-of-time/?a=94858-3ff8632793c2daa3b43ac572ed4a1def" rel="noopener noreferrer" target="_blank">mortgage rates</a> will likely respond. While there may be early signs inflation is easing as we round out this year, we’re not out of the woods just yet. Inflation is still something to watch in 2023.</p>
<p>Right now, experts are factoring all of this into their mortgage rate forecasts for next year. And if we average those forecasts together, experts say we can expect rates to stabilize a bit more in 2023. Whether that’s between 5.5% and 6.5%, it’s hard for experts to say exactly where they’ll land. But based on the average of their projections, a more predictable rate is likely ahead (<span>see chart below</span>):</p>
<p><a href="https://files.mykcm.com/2022/12/20155840/mortgage-rate-projections-for-2023-MEM-Eng.png" rel="noopener noreferrer" target="_blank"><img class="aligncenter wp-image-106529" src="https://files.mykcm.com/2022/12/20155840/mortgage-rate-projections-for-2023-MEM-Eng.png" alt="What To Expect from the Housing Market in 2023 | MyKCM" width="600" height="450" /></a></p>
<p>That means, we’ll start the year out about where we are right now. But we could see rates tick down if inflation continues to drop. As Greg McBride, Chief Financial Analyst at <span>Bankrate</span>, <a title="explains" href="https://www.bankrate.com/real-estate/housing-market-predictions-2023/#home-values" rel="noopener noreferrer" target="_blank">explains</a>:</p>
<blockquote>
<p><span>“. . . mortgage rates could pull back meaningfully next year <strong>if inflation pressures ease.</strong>”</span></p>
</blockquote>
<p>In the meantime, expect some volatility as rates will likely fluctuate in the weeks ahead. If we see inflation come back under control, that would be good news for the housing market.</p>
<h4><strong>What Will Happen to Home Prices Next Year?</strong></h4>
<p>Homes prices will always be defined by supply and demand. The more buyers and fewer homes there are on the market, the more home prices will rise. And that’s exactly what we saw during the pandemic.</p>
<p>But this year, things changed. We’ve seen home prices moderate and housing supply grow as buyer demand pulled back due to higher mortgage rates. The level of moderation has varied by local area – with the biggest changes happening in overheated markets. But do experts think that will continue?</p>
<p>The graph below shows the latest home price forecasts for 2023. As the different colored bars indicate, some experts are saying home prices will appreciate next year, and others are saying home prices will come down. But again, if we take the average of all the forecasts (<span>shown in green</span>), we can get a feel for what 2023 may hold.</p>
<p><a href="https://files.mykcm.com/2022/12/19163206/home-price-forecasts-projections-for-2023-MEM.png" rel="noopener noreferrer" target="_blank"><img class="aligncenter wp-image-106442" src="https://files.mykcm.com/2022/12/19163206/home-price-forecasts-projections-for-2023-MEM.png" alt="What To Expect from the Housing Market in 2023 | MyKCM" width="600" height="450" /></a></p>
<p>The truth is probably somewhere in the middle. That means nationally, we’ll likely see relatively flat or neutral appreciation in 2023. As Lawrence Yun, Chief Economist at the <span>National Association of Realtors </span>(NAR), <a title="says" href="https://www.nar.realtor/magazine/real-estate-news/2023-real-estate-forecast-market-to-regain-normalcy#:~:text=Housing%20inventory%20is%20expected%20to,appreciation%20will%20slow%2C%20he%20added." rel="noopener noreferrer" target="_blank">says</a>:</p>
<blockquote>
<p><span>“<strong>After a big boom over the past two years, there will essentially be no change nationally </strong></span>. . <span>. Half of the country may experience small price gains, while the other half may see slight price declines.”</span></p>
</blockquote>
<h3><strong>Bottom Line</strong></h3>
<p>The 2023 housing market is going to be defined by mortgage rates, and rates will be determined by what happens with inflation. The best way to keep a pulse on what experts are projecting for next year is to lean on a trusted real estate advisor. Let’s connect.</p>
</div> urn:uuid:592f21936beab5645975ce2e6c1f0910e34f859eEssex County Housing Report December 14, 2022Kathleen Sullivan2022-12-15T16:57:14-05:002022-12-18T12:18:41-05:00
<p><strong>Essex County December Housing Report 12/14/2022</strong></p>
<p>Inflation is slowing, but is way above the Federal Reserve’s target of 2%. <br />November CPI (Consumer Price Index) fell to 7.1% from 7.7% in October.<br />November PPI (Producer Price Index) fell to 7.4% from 8.1% in October. PPI measures wholesale Prices<br />To fight inflation, the Federal Reserve continues to raise interest rates and sell off their Balance Sheet Assets to tighten credit (Quantitive Tightening). <br />Federal Funds Rate increased +0.5% to 4.25% - 4.5% <br />Mortgage Rates are trending down; Conforming 30 Year Fixed now 6.33%.</p>
<p><strong>Bottom Line:<br /></strong>Housing Listing and Sales activity continues to moderate as the Fed fights inflation. <br />Year over Year price increases are slowing, +6.3%, Units Sales fell -26%, Active Listings fell -16%. Months of Inventory rose +21% as Unit Sales fell more the Active Listings. </p>
<p><strong>Month Over Month, November 2022 vs October 2022</strong></p>
<ul>
<li>Median Sold Prices:<br /> Single Families +4.4%; Condos -1.1%; Multi-Families -1.5%</li>
<li>Unit Sales: <br /> Single Families -4.2%, Condos +29.3%, Multi-Families +1.9%</li>
<li>Active Listings:<br /> Single Families -14.2%, Condos -6.3%, Multi-Families -10.6% </li>
<li>Current Months of Inventory: <br /> Single Families 1.6, Condos 1.4, Multi-Families 2.4</li>
</ul>
<p><strong>Year Over Year, November 2022 vs November 2021</strong></p>
<ul>
<li>Median Sold Prices: <br /> Single Families +6.6%; Condos +6.0%; Multi-Families +2.2% </li>
<li>Unit Sales:<br /> Single Families -23.1% , Condos -34.0%, Multi-Families -44.8%.</li>
<li>Active Listings:<br /> Single Families -4.3%; Condos -23.9%; Multi-Families -16.0% </li>
<li>Change in Months of Inventory:<br /> Single Families +23.1%, Condos 16.7%, Multi-Families +50.0%.<br /> <br /> Terry Sullivan</li>
</ul>
<ul>
<li><span class="fontSize3">To view data for every Essex County town, go to</span><strong><span class="fontSize3">: <a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php<br /><br /></a></span></strong></li>
<li>To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports<br /><br /><img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportDec142022Sullivan.jpg" alt="" width="700" height="906" /><br /></a></li>
</ul> urn:uuid:f1a3e2b42032d0223467f873030e67e19cbc41acEssex County Housing Report November 18, 2022Kathleen Sullivan2022-11-19T18:20:06-05:002022-11-19T18:20:06-05:00
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<p><strong>Essex County November Housing Report 11/18/2022<br /></strong></p>
<p>Inflation shows signs of slowing, but is excessively high. October Consumer Price Index was 7.7% down from 8.2% in September and the Producer Price Index (wholesale Prices) was 8% down from 8.5% in September. October Core inflation (CPI less food and energy) was 6.3%, a long way from the Federal Reserves target of 2%. The Federal Reserve will continue to raise interest rates and shrink its balance sheet (Quantitative Tightening) to fight inflation.</p>
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<p><strong>Bottom Line:<br /></strong>Even though Active Listings Continue to fall, unit sales are dropping at a faster pace which is increasing Months of Inventory as buyers adjust to rising mortgage rates. Expect more softening in Unit Sales and Prices as the Federal Reserve continues to fight inflation.</p>
<p><strong> Month Over Month, October 2022 vs September 2022</strong></p>
<ul>
<li>
<p><span>Median Sold Prices:</span><span> <br /></span>Single Families -5.7%; Condos +5.5%; Multi-Families -2.9%</p>
</li>
<li>
<p><span>Unit Sales: </span><span> <br /></span>Single Families -19.1%, Condos -34.8%, Multi-Families -38.1%</p>
</li>
<li>
<p><span>Active Listings:</span><span> <br /></span>Single Families -2.5%, Condos +0.7%, Multi-Families -9.7%</p>
</li>
<li>
<p><span>Current Months of Inventory: </span><span> <br /></span>Single Families 1.7, Condos 1.9, Multi-Families 2.5</p>
<p><strong>Year Over Year, October 2022 vs October 2021</strong></p>
</li>
</ul>
<ul>
<li>
<p><span>Median Sold Prices: </span><span> <br /></span><span>Single Families +3.8%; Condos +19.9%; Multi-Families +3.0%</span></p>
</li>
<li>
<p><span>Unit Sales:</span><span> <br /></span><span>Single Families -25.2% , Condos -32.7%, Multi-Families -48.5%.</span></p>
</li>
<li>
<p><span>Active Listings:</span><span> <br /></span><span>Single Families -6.5%; Condos -32.4%; Multi-Families -26.6%</span></p>
</li>
<li>
<p><span>Change in Months of Inventory:</span><span> <br /></span><span>Single Families +30.8%, Condos 0%, Multi-Families +38.9%.</span><span> <br /><br /></span>Terry Sullivan</p>
</li>
</ul>
<p> <img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportNov182022Sullivan.jpg" alt="" width="700" height="906" /></p>
</div>
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</div> urn:uuid:981293ff8d7ba925b5c8d182d5212ed1b81dab58Essex County Housing Report October 18, 2022Kathleen Sullivan2022-10-19T14:43:05-04:002022-10-19T14:43:05-04:00
<p><strong>Essex County September Housing Report 10/18/2022 </strong></p>
<p>The Federal Reserve’s war on inflation is dampening real estate sales as the Fed continues to raise interest rates and reduce its purchase of Mortgage Backed Securities to fight inflation. After the last CPI Report which was a surprisingly high 8.2% inflation rate on 9/13/2022, the 30 year mortgage rate rose to 7.16% and the 10 year Treasury Notes rose to 4% on 9/14/2022.</p>
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<p><span>Units Sales and Active Listings continue to fall and days on market are now rising in response to rising mortgage rates. Price increases are slowing.</span></p>
<p><strong>Bottom Line:</strong></p>
<p><span>Inventory will remain low as high mortgage rates deter home sellers with low mortgage rates from listing their homes. At the same time, buyers are resisting rising prices because of high mortgage rates / affordability. Hence, prices will continue to flatten or turn negative as sellers and buyers try to reach an equilibrium.</span></p>
<p><strong>Month Over Month, September 2022 vs August 2022</strong></p>
<ul>
<li>
<p><span>Median Sold Prices:</span><span> </span></p>
<p><span>Single Families +1.5%; Condos +0.3%; Multi-Families +7.7%</span></p>
</li>
<li>
<p><span>Unit Sales: </span><span> </span></p>
<p><span>Single Families -10.2%, Condos +1.8%, Multi-Families -3.4%</span></p>
</li>
<li>
<p><span>Active Listings:</span><span> </span></p>
<p><span>Single Families -8.9%, Condos -14.8%, Multi-Families -15.2%</span></p>
</li>
<li>
<p><span>Current Months of Inventory: </span><span> </span></p>
<p><span>Single Families 1.3, Condos 1.2, Multi-Families 1.6.</span></p>
<p><strong>Year Over Year, September 2022 vs September 2021</strong></p>
</li>
</ul>
<ul>
<li>
<p><span>Median Sold Prices: </span><span> <br /></span><span>Single Families +10.0%; Condos +8.7%; Multi-Families +14.8%</span></p>
</li>
<li>
<p><span>Unit Sales:</span><span> <br /></span><span>Single Families -8.8% , Condos -13.4%, Multi-Families -20.8%.</span></p>
</li>
<li>
<p><span>Active Listings:</span><span> <br /></span><span>Single Families -10.4%; Condos -37.0%; Multi-Families -30.6%</span></p>
</li>
<li>
<p><span>Change in Months of Inventory:</span><span> <br /></span><span>Single Families -7.1%, Condos -25.0%, Multi-Families -11.1%.</span><span> </span></p>
</li>
</ul>
</div>
</div>
</div>
</div>
<p> </p>
<ul>
<li><span class="fontSize3">To view data for every Essex County town, go to</span><strong><span class="fontSize3">: <a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php<br /><br /></a></span></strong></li>
<li>To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports<br /></a></li>
</ul>
<p> </p>
<p><img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportOct182022Sullivan.jpg" alt="" width="700" height="906" /></p> urn:uuid:263191f295ce49a7dedd574ef3f2eb920d0341aaShould I Sell My House This Year?Kathleen Sullivan2022-09-22T12:47:07-04:002022-09-22T12:55:13-04:00
<p> </p>
<h2>Should I Sell My House This Year?</h2>
<p>There’s no denying the housing market is <a title="undergoing a shift" href="https://www.mykcm.com/2022/08/23/what-sellers-need-to-know-in-todays-housing-market/">undergoing a shift</a> this season as buyer demand slows and the number of homes for sale grows. But that shift actually gives you some unique benefits when you sell. Here’s a look at the key opportunities you have if you list your house this fall.</p>
<h4><strong>Opportunity #1: You Have More Options for Your Move</strong></h4>
<p>One of the biggest stories today is the growing supply of homes for sale. <a title="Housing inventory" href="https://www.mykcm.com/2022/08/25/why-you-may-want-to-start-your-home-search-today/">Housing inventory</a>has been increasing since the start of the year, primarily because higher mortgage rates helped cool off the peak frenzy of buyer demand. But what you may not realize is, that actually could benefit you.</p>
<p>If you’re selling your house to make a move, it means you’ll have <a title="more options" href="https://www.mykcm.com/2022/09/01/new-homes-may-have-the-incentives-youre-looking-for-today/">more options</a> for your own home search. That gives you an even better chance to find a home that checks all of your boxes. So, if you’ve put off selling because you were worried about being able to find <a title="somewhere to go" href="https://www.mykcm.com/2022/07/18/wondering-where-youll-move-if-you-sell-your-house-today/">somewhere to go</a>, know your options have improved.</p>
<h4><strong>Opportunity #2: The Number of Homes on the Market Is Still Low</strong></h4>
<p>Just remember, while data shows the number of homes for sale has increased this year, <strong>housing supply is still firmly in sellers’ market territory. </strong>To be in a balanced market where there are enough homes available to meet the pace of buyer demand, there would need to be a six months’ supply of homes. According to the <a title="latest report" href="https://www.nar.realtor/newsroom/existing-home-sales-retreated-5-9-in-july" rel="noopener noreferrer" target="_blank">latest report</a> from the <span>National Association of Realtors</span> (NAR), in July, there was only a 3.3 months’ supply.</p>
<p>While you’ll have more options for your own home search, <a title="inventory" href="https://www.mykcm.com/2022/08/24/why-todays-housing-inventory-proves-the-market-isnt-headed-for-a-crash/">inventory</a> is still low, and that means your home will still be in demand if you <a title="price it right" href="https://www.mykcm.com/2022/08/09/selling-your-house-your-asking-price-matters-more-now-than-ever/">price it right</a>. That’s why the <a title="most recent data" href="https://cdn.nar.realtor/sites/default/files/documents/2022-07-realtors-confidence-index-08-18-2022.pdf" rel="noopener noreferrer" target="_blank">most recent data</a>from NAR also shows the average home sold in July still saw multiple offers and sold in as little as 14 days.</p>
<h4><strong>Opportunity #3: Your Equity Has Grown by Record Amounts</strong></h4>
<p>The <a title="home price appreciation" href="https://www.mykcm.com/2022/07/25/whats-causing-ongoing-home-price-appreciation/">home price appreciation</a> the market saw over the past few years has likely given your <a title="equity" href="https://www.mykcm.com/2022/07/08/why-growing-home-equity-is-great-news-if-you-plan-to-move-infographic/">equity</a> (and your net worth) a considerable boost. Danielle Hale, Chief Economist at <span>realtor.com</span>, <a title="explains" href="https://www.realtor.com/research/weekly-housing-trends-view-data-week-july-2-2022/" rel="noopener noreferrer" target="_blank">explains</a>:</p>
<blockquote>
<p><span>“Home owners trying to decide if now is the time to list their home for sale are still in a good position in many markets across the country <strong>as a decade of rising home prices gives them a substantial equity cushion </strong>. . .”</span><span> </span></p>
</blockquote>
<p>If you’ve been holding off on selling because you’re worried about how <a title="rising prices" href="https://www.mykcm.com/2022/08/30/whats-actually-happening-with-home-prices-today/">rising prices</a> will impact your next home search, rest assured your <a title="equity" href="https://www.mykcm.com/2022/07/06/how-your-equity-can-grow-over-time/">equity</a> can help. It may be just what you need to cover a large portion (if not all) of the down payment on your next home.</p>
<h3><strong>Bottom Line</strong></h3>
<p>If you’re thinking about selling your house this season, let’s connect so you have the expert insights you need to make the best possible move today.</p> urn:uuid:b725d9d458e92be105ce33555c0220f8d66167ddEssex County Housing Report September 17, 2022Kathleen Sullivan2022-09-20T16:58:54-04:002022-09-20T16:58:54-04:00
<p> <strong>Essex County September Housing Report 9/17/2022 </strong></p>
<p>Sellers are adjusting to rising mortgage rates and buyer resistance by lowering their prices. Current Unit sales rose over 11% from July to August as median sold prices for August 2022 fell -5.5% for Singles and -0.5% for Condos from July 2022. Inventory remains extremely low with only 1.2 months for Singles, and 1.3 months for Condos. </p>
<p>6 months of inventory is a balanced market. </p>
<p>Year over year, August median home sale prices rose 5.0% for Singles and 6.4% for Condos while Unit Sales fell 10.1% for Singles and 17.6% for Condos. </p>
<p>30 year conforming mortgage rates today were 6.35%, a 14 year high.</p>
<p><strong>Bottom line, in spite of an extremely low 1.2 months of inventory, August 2022 median sold prices fell 5.5% for Singles and 0.5% for Condos from July 2022 to offset rapidly rising mortgage rates and stimulate Buyer interest. August Home Sales rose 11% from July 2022. </strong> </p>
<ul>
<li><span class="fontSize3">To view data for every Essex County town, go to</span><strong><span class="fontSize3">: <a href="http://www.sullivanteam.com/Properties/Reports/Public/Charts.php" target="_blank">http://www.sullivanteam.com/Properties/Reports/Public/Charts.php<br /><br /></a></span></strong></li>
<li>To Download the full housing report go to: <a href="http://sullivanteam.com/pages/EssexCountyHousingReports" target="_blank">http://sullivanteam.com/pages/EssexCountyHousingReports<br /><br /><br /><img style="margin: 10px;" src="https://media.imaxws.com/100/HousingReportSep172022Sullivan.jpg" alt="" width="700" height="906" /><br /></a></li>
</ul> urn:uuid:c4306c62985334b385409c36f8c2a273b4348faf10 Pro Tips For A Smooth Home MoveKathleen Sullivan2022-08-20T13:09:27-04:002022-08-20T13:09:27-04:00
<p> </p>
<p> </p>
<p align="center"><strong>10 Pro Tips for a Smooth Home Move</strong></p>
<p> </p>
<p>The process of buying a new home can be both exhilarating and exhausting. But the journey doesn’t stop when you close on your property. On the contrary, you still have quite a bit to do before you can begin the process of settling into your new place. </p>
<p> </p>
<p>Fortunately, you don’t have to do everything in a day. You don’t have to do it all alone, either. When you work with us to sell or purchase a home, you’ll have an ally by your side long after your transaction has closed. We’ll continue to be a resource, offering advice and referrals whenever you need them on packing, hiring movers and contractors, and acclimating to your new home and neighborhood. </p>
<p> </p>
<p>When it comes to a life event as stressful as moving, it pays to have a professional by your side. Here are some of our favorite pro tips to share with clients as they prepare for an upcoming move. </p>
<p> </p>
<p><strong>1. Watch out for moving scams.</strong></p>
<p> </p>
<p>Maybe you receive a flyer for a moving company in the mail. Perhaps you find a mover online. Either way, never assume that you’re getting accurate information. According to the Better Business Bureau, moving-related fraud is on the rise. In 2021 alone, individuals and families reported more than $730,000 lost to moving scams, an increase of 216% over the previous year.<sup>1 </sup></p>
<p> </p>
<p>How can you tell if a moving deal is too good to be true? Trust your instincts. If the price appears too low or you can’t pin down the mover’s physical business address, try someone else. The same goes for any moving company representative who dodges questions. Reputable movers should offer transparent pricing, conduct in-home estimates, and provide referrals and copies of their insurance documents upon request.<sup>2</sup> For help finding trustworthy movers, reach out. We’d be happy to share our recommendations. </p>
<p> </p>
<p><strong>2. Insure your belongings.</strong></p>
<p> </p>
<p>Your moving company promises to take care of your custom piano or your antique furniture. But don’t just take their word for it. Ask to see how much insurance they carry and talk about how the claims process works. That way, you’ll know what is (and isn’t) covered in case of loss or damage.</p>
<p> </p>
<p>Of course, some items are priceless because they’re irreplaceable. You might want to move your more sensitive valuables (jewelry, documents, family heirlooms, etc.) in your own vehicle just to be safe. For added peace of mind, call your rental or home insurance provider if you’re moving anything yourself. You might already be protected or be able to purchase extra insurance to cover your move. If those options are unavailable, you could opt for moving insurance from a third-party carrier.<sup>3</sup></p>
<p> </p>
<p><strong>3. Start packing when you start looking for a new home.</strong></p>
<p> </p>
<p>As soon as your house hunting begins in earnest, think about packing away things you won’t need for the next few months. These could include seasonal or holiday decor, clothing, and books. Tackling just one or two boxes a day will give you a head start.</p>
<p> </p>
<p>If you're going to put your current home on the market, you'll want to declutter anyway. Decluttering will make your home seem larger, and depersonalizing helps buyers envision their own items in the space. Consider selling, donating, or throwing out possessions you no longer need. The things you want to keep can be placed in storage until you officially start moving to a new place.</p>
<p> </p>
<p><strong>4. Pack to make unpacking easier.</strong></p>
<p> </p>
<p>Have you ever opened a packed box only to find that it’s filled with an assortment of items that don’t belong together? This isn’t efficient and will only make unpacking harder. A better way to pack is to bundle items from a single room in a labeled box. Labels can let movers know (and remind you) where to place each box, whether it’s fragile, and which side needs to be up. Some people like to assign colors to each room in their new home to make distributing color-coded boxes a breeze. </p>
<p> </p>
<p>Feel free to unleash your inner organizer with this project. For example, you could create a spreadsheet and assign each box a number. As boxes are packed, simply fill in the spreadsheet with a list of contents. Anyone with access to the spreadsheet can log in and quickly find the desired item.</p>
<p> </p>
<p><strong>5. Think outside the box when transporting clothes.</strong></p>
<p> </p>
<p>Who wants to worry about boxing up clothes? If you plan on hiring professional movers, ask if you can leave clothing in your dressers. In many cases, they will use plastic to wrap the dresser so the drawers don’t fall out during transport. If keeping your clothes in your furniture makes it too heavy, the movers might be able to wrap and move drawers by themselves.</p>
<p> </p>
<p>Another easy transport trick involves turning clean garbage bags into garment bags. Poke a hole in the bottom of a garbage bag, turn the bag upside down, slide it over five to seven garments on hangers, and lay the items flat in the back seat or trunk of your vehicle. The bags will help prevent wrinkling, and your clothes will be ready to hang up when you get to your new home.</p>
<p> </p>
<p><strong>6. Document prior to disassembling appliances and furnishings.</strong></p>
<p> </p>
<p>Few things are as confusing as looking at a plastic baggie filled with nuts, bolts, and screws from your disassembled dining room table or sorting through a box of electrical wires and cords to see which ones fit your TV. </p>
<p> </p>
<p>The best workaround to easier reassembly is to document the disassembly process. Take photos and videos or thorough notes as you go. Whether it’s your headboard or treadmill, be very precise. And just a tip: Construct your beds first when you get to your new home. After a long moving day, the very last thing you want is to be assembling beds into the wee hours of the morning. </p>
<p> </p>
<p><strong>7. Prioritize unpacking kids’ rooms.</strong></p>
<p> </p>
<p>Children can become very stressed by a big move. To ease their transition, consider prioritizing unpacking their rooms as their “safe zones.”<sup>4</sup> You aren’t obligated to unpack everything, certainly. However, set up your children’s rooms to be functional. That way, your kids can hang out in a private oasis away from the chaos while you’re running around and moving everything else.</p>
<p> </p>
<p>Depending upon how old your youngsters are, you might want to give them decorating leeway, too. Even if it’s just letting them choose where furniture goes, it gives them a sense of buy-in. This can help ease the blues of leaving a former home they loved.</p>
<p> </p>
<p><strong>8. Be a thoughtful pet parent.</strong></p>
<p> </p>
<p>Many types of pets can’t handle the commotion of moving day. Knowing this, be considerate and seek ways to give your pets breaks from the action. You might ask a friend to pet sit your pooch or keep your kitty in a quieter room, like a guest bathroom.</p>
<p> </p>
<p>Be sure to check in on your pet frequently. Pets like to know that you’re around. Give them treats, food, and water throughout the day. When it’s time to transport your pet, do it calmly. At your new property, give your pet access to just a room or two at first. Pets typically prefer to acclimate themselves slowly to unfamiliar environments.<sup>5</sup></p>
<p><strong> </strong></p>
<p><strong>9. Plan for your move like you’re planning for an exciting vacation.</strong></p>
<p> </p>
<p>When you plan vacations, you probably look up local restaurants, shops, and recreational areas. Who says you can’t do the same thing when moving? Create a list of all the places you want to go and things you want to do around your newly purchased home. Having a to-explore list keeps everyone’s spirits high and gives you starting points to settle into the neighborhood. </p>
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<p>And don’t feel that you have to cook that first night. Once the moving trucks are gone, you can always pop over to a local eatery or order DoorDash for major convenience. The first meal in your new home should be a happy, welcoming treat. And if you’re relocating to our neck of the woods, we would love to introduce you to all the hot spots in town and recommend our local favorites.</p>
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<p><strong>10. Pack an “Open Me First!” box.</strong></p>
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<p>You won’t be able to unpack all your boxes in one day, but you shouldn’t go without your sheets, pillows, or toothbrush. Designate some boxes with “Open Me First!” labels. (Pro tip: Keep a tool kit front and center for all that reassembling.) </p>
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<p>Along these lines, use luggage and duffel bags to transport everyone’s personal must-have items and enough clothing for a couple of days. That way, you won’t have to rummage through everything in the middle of your move looking for sneakers or snacks.</p>
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<p>When packing your “Open Me First!” boxes, think about which items you’ll need in those first 24 hours. For example, toilet paper and hand soap are musts. A box cutter will make unpacking a lot easier, and paper towels and trash bags are sure to come in handy. Reach out for a complete, printable list of “Open Me First!” box essentials to keep on hand for your next move!</p>
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<p><strong>LET’S GET MOVING</strong></p>
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<p>Getting the phone call from your real estate agent that your bid was accepted is a thrilling moment. Make sure you keep the positivity flowing during the following weeks by mapping out a streamlined, efficient move. Feel free to get in touch with us today to help make your big move your best move.</p>
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<p>Sources:</p>
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<ol>
<li>Better Business Bureau - <a href="https://www.bbb.org/article/scams/24198-bbb-scam-alert-avoid-moving-scams-this-national-moving-month">https://www.bbb.org/article/scams/24198-bbb-scam-alert-avoid-moving-scams-this-national-moving-mont</a></li>
<li>Move.org - <br /><a href="https://www.move.org/how-to-tell-moving-company-scam/">https://www.move.org/how-to-tell-moving-company-scam/</a></li>
<li>Forbes - <br /><a href="https://www.forbes.com/advisor/homeowners-insurance/moving-insurance/">https://www.forbes.com/advisor/homeowners-insurance/moving-insurance/</a></li>
<li>New York Times - <br /><a href="https://www.nytimes.com/2020/07/13/parenting/moving-tips-kids.html">https://www.nytimes.com/2020/07/13/parenting/moving-tips-kids.html</a></li>
<li>ASPCA - <br /><a href="https://www.aspca.org/pet-care/general-pet-care/moving-your-pet">https://www.aspca.org/pet-care/general-pet-care/moving-your-pet</a></li>
</ol>