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How to Remodel Your Home to Have a More Relic Feel

When remodeling your home to give it a more vintage feel, there are some tips that can help you get the look you want and save you money at the same time. By doing the remodel yourself, you may be able to find deals on genuine vintage items at a lower cost than the faux vintage items an interior designer might use. Additionally, consider these suggestions for making your home look more traditional and feel inviting to your family and your visitors.

Lighting Décor Really Drives the Ambiance Home

One of the most important concerns in choosing décor for your home is how it will contribute to the overall theme. By selecting period-appropriate lighting, you can reinforce the idea that your home is a step back in time. Today, many lighting companies recreate vintage looking appliances that work on today’s power consumption and energy conservation requirements. You may find gas lanterns that have been refurbished to provide electrical lighting or antique lamps that have been rewired and rated efficient for use in the modern environment.

If you can’t find exactly what you’re looking for, don’t give up in frustration. Many lighting companies will take on custom orders, if you contact them and describe what you want. Suppose you have old lanterns and you want them rewired and updated for today’s standards. You can request an estimate from a local lighting company, or you might prefer to go to a certified electrician to do the job for you. Either way, a little research will uncover options you might not have otherwise considered.

Color Helps Create Authenticity

Suppose your remodeling is almost done and you have all of the furnishings and décor to give your home a vintage look from your favorite era. All that’s left to do is slap on some paint. Easy enough, but, if you’re not careful, the color you choose could throw off that authentic feel completely. That’s because each era has its own color palette.

For instance, the 1900s saw a culture rebelling against the industrial revolution, so most homes were dressed in soft and neutral hues. It was also the heyday for Frank Lloyd Wright’s organic take on architecture. Everything from structure to color was intended to create a calming effect and help to take people away from the dirty, bustling industries now overcrowding Main Street. The best colors to use for this era are pale pinks, ivories, light greens, and soft oranges.

It may take some research, but you can find the best color schemes for whatever era you’re hoping to recreate. If you are trying to give your home a vintage look, why not go the extra mile and ensure you’re using the best color choices?

A Word About Moldings and Fixtures

By adding crown moldings and wainscoting to any wall or door, you can enhance the beauty of the room. In a darker room, add white wainscoting to create contrast, while also choosing a style that enhances the vintage theme of your home’s redesign. Adding wainscoting to wine cellar doors can help them stand out and create a focal point in the room.

Similarly, it’s important to select the right fixtures and tiling for your home. Much like the lighting, many manufacturers create vintage fixtures that are functional and adapted for modern homes. They’re most commonly found in big chain hardware stores or online, but you may also be able to find genuine vintage fixtures in antique stores or at flea markets. In selecting the right fixtures, pay special attention to the texture and character of the items to ensure they’ll enhance the theme of your home.

Tile flooring can also be found in a variety of styles, many speaking to decades gone by. If you’re uncertain what to choose, traditional black and white tiling is an excellent default choice. It has often been used for kitchens and bathrooms in a number of eras. You might also choose rustic-looking wood tiles or stone tiling, depending on your chosen era.

Conclusion

When remodeling your home to fit a specific theme, special care has to go into every aspect of the redesign. Many of your fixtures, lighting appliances, and décor may best be found at yard sales, antique stores, and flea markets, while hardware stores offer a wide selection of moldings and wainscoting. In paying attention to the smallest details, you can create an overall ambiance that may even exceed your dreams.

 

5 Real Estate Markets That Are Currently Underpriced

Investing in real estate by purchasing your own home can be a great long-term investment option. While buying a home in most markets and planning on owning it for a long period of time is almost always a great option, there are some real estate markets across the country that are now considered undervalued and provide more potential. The following five real estate markets are poised to experience higher than average increases in real estate values over the next 5 to 10 years.   Detroit, Michigan One city that has had one of the hardest hit real estate markets over the past two decades has been Detroit. Detroit was one of just a few cities that actually saw value declines during the real estate bubble. While they have had a lot of issues with foreclosures, it appears that the city is rebounding. Detroit is no longer in bankruptcy and has seen a lot of urban revitalization. Part of this has included tearing down vacant homes all over the city and replacing the land with parks and commercial properties.   Orlando, Florida Another city has it considered underpriced compared to other cities across the country is Orlando. Orlando was one of the fastest growing cities during the housing bubble. Once the bubble burst, many condo owners saw their property values fall dramatically. The city was further hit by a slowdown in the travel industry during the recent recession. Now that this has recovered, the demand for housing is starting to increase. The median value in the city is still only around $150,000, which makes is very affordable for someone new moving into the area.   Chicago, IL While Chicago is best known for being the third-largest city in the country, its real estate market is considered one of the best values today. In 2016, the median price for a home in Chicago grew by about 4% to a median price of $228,000. At the same time, unemployment in Chicago is continuing to reduce and more people are moving back into the city. This is making more and more neighborhoods turn into expensive communities with a lot of local amenities.   St George, Utah Another city that is considered to be undervalued are various urban and growing areas of Utah. While Salt Lake City and Park City have continued to have strong real estate markets, many of the best places to live in Utah are now considered to be in other areas of the city. The St. George, Utah area is located in the southwest part of the state and is considered one of the fastest-growing communities in the country. The city has an expanding local economy and still relatively affordable housing prices. In the coming years, St. George is expected to see continued above-average increases in its real estate home prices.   New York When most people think of New York City, they think of the glamorous high rises in Manhattan and trendy brownstones in Brooklyn. While the city is full of unique housing projects that are considered the most expensive if the world, the overall city median price is still considered very affordable. Overall, the city of New York City is considered to be undervalued by at least 10%. This is based largely on the fact that the $385,000 median home value is affordable to a large percentage of the population. Furthermore, the city has low occupancy and a lot of outside real estate investors, which are going to continue to increase the demand for housing in the city.   In conclusion, buying in owning a home is almost always a better long-term financial option than renting. While owning in most markets is a good idea, there are five real estate markets across the country today that are considered underpriced and offer the most potential upside.  

There’s No Equity in Renting, So When Is Renting a Good Idea?

The fact that interest rates have dropped to near historic lows as the rents continue to sky rocket in most urban set ups, buying a home seems to tilt the balance to its favor. The reports by Trulia also suggest that for renting to become cheaper than buying, the 30-year fixed mortgage must hit at least 5% in Los Angeles and 5.1% in New York City. However, the mortgage rate has hit a low of 3.17%, making the projection unattainable, at least in the near future.

As much as the statistics favor home buying over renting, for many Americans, the financial tradeoff may not be easy. Numerous advantages come with home ownership, not to mention the tax deductibles on your mortgage interests. But if you don’t carefully analyze your financial situation and make informed choices, home ownership can turn into a financial nightmare.

The most critical component of your decision-making process should be your financial stability. You need to ask yourself key questions like: How stable is your job? How likely are can you get a pay raise or promotion over the coming years? Is your job likely to shift locations or cities? How stable is your marriage or relationship? Is there a possibility of splitting up or divorcing that may occasion untimely disposal of the home? And so on. If the answer to one or more of your questions indicates doubts on whether you will maintain the house within the next five years or more, then it would be pointless to commit yourself, regardless of the mathematics.

Change of Cities

If the nature of your job or appointment involves frequent relocation or change of cities, you may need to evaluate between buying and renting. Many home owners have suffered the cost of servicing mortgages for homes they do not live in. They even spend more resources in renting homes in their new location. Their efforts to sell may be thwarted when the timing coincides with the market lows when the mortgage interest rates rise, wiping out their equity and savings.

Financial Situation

Many Americans are living under strenuous financial situation and may not be in a position to save enough for the down payment. You need to analyze your individual financial status. The ultra-tight real estate markets like San Francisco even make it harder for aspiring home owners.

Home Insurance Costs

It is important to know that homeownership doesn’t stop with the acquisition of the mortgage. You’ll need money to settle your property taxes, and the mortgage company will require a proof of home insurance policy. When you rent a house, your landlord will cater for property insurance in addition to some utility bills like water, heating, or power. However, you may need to provide for your rental insurance, which is much more affordable. The policy still provides good benefits of homeowners’ insurance, except that it doesn’t cover the building structure.

Home Maintenance Costs

As a homeowner, you take responsibility for all your maintenance costs like fixing a leaking roof, the parading ants over your kitchen cabinets, broken toilet bowls, electrical breakdowns, and much more. And then there’s the dirty task of mowing your lawn, cleaning the compound, painting the walls, etc. When you decide to rent, most of these tasks will be done by the landlord or an appointed agent.

Bottom line

While it’s true that reduced rates are quite tempting to potential home buyers, you shouldn’t use the statistics to make costly purchases that could turn problematic. You can consider renting affordable housing alternatives like studio apartments as you put aside substantial savings for future investments. That way you’ll be able to make much larger down payment when the markets can’t offer better mortgage rates.

If you borrow less and give a huge down payment, the banks and the property sellers will prefer you over your competitors in a bidding situation. Additionally, your house will appreciate much faster in value as interest rates reduce, cutting down your financing costs.

Europe continues to control U.S. markets

Yesterday there was a passing thought that Italy’s debt problems would deal a serious blow to the country with its interest rates at record highs since the EU began. Yesterday another passing thought that the EU would eventually be restructured based on comments from French Pres Sarkozy that a two tier EU may be the best thing eventually. Yesterday the stock market dropped 389 points, the 10-Year Note yield fell 12 basis points to close under 2.00% at 1.96%. That was yesterday; like it has been the last few weeks, one day its doom and gloom, the next not as bad. No one actually knows what will happen tomorrow; therein lies the difficulty in attempting to assess the situation on a day to day basis.

Yesterday there were comments from supposed knowledgeable people that the ECB was precluded from buying bonds from individual EU countries; obviously that isn’t the case. We reported it as fact and one reason that the debt problems in the region were unlikely to be resolved for years and that there would be defaults in a number of countries. Overnight reports from the wires saying the ECB was in buying Italian bonds, so far no confirmation from the central bank.  Italy did sell bills today, the demand was strong and for the moment markets are less concerned that Italy can not fund itself. The country sold 5 billion euros ($6.8B) of one-year bills at an average yield of 6.087% after yields yesterday on 10-Year Notes surged past the 7 percent level.

In Greece there is apparently a new leader that will form an interim government;  former vice- president of the European Central Bank Lucas Papademos will head a national unity government for Greece, according to the country’s presidency.

At 8:30 this morning weekly jobless claims along with the every other day optimism about Europe driving stock indexes higher and interest rate prices lower. Weekly claims fell 10K to 390K the lowest claims in 7 months, expectations were for unchanged at 400K; continuing claims also fell, from 3.707 million to 3.615 million.

September U.S. trade balance declined to -$43.11B, if here is any consensus in the markets these days the forecast was for the balance to -$46.3B. October import prices fell 0.6% against estimates of -0.2%; export prices fell 2.1%.

At 1:00 this afternoon Treasury will complete borrowing $72B this week with $16B of 30-Year Bonds. The 10-Year Note auction yesterday was weaker than traders were expecting, sending rates higher on the reaction before regaining strength into the close with the 10-Year Note at 1.96%. This morning the 10-Year Note is hovering at 2.05%.

At 9:30 the DJIA opened +126, NASDAQ +30, and the S&P +13; the 10-Year Note 2.05% +9 bp and mortgage prices down 8/32 (.25 bp).

Attempting to trade on fundamentals these days is almost impossible with the constant changes happening in Europe. Looking solely at the technicals, the 10-Year Note presently is sitting right on its 40 day average at 2.05% with its 20 day average at 2.09%. 30-Year FNMA MBS today is trading below its 40 day and at the moment holding at its 20 day, similar to the 10-Year Note. The relative strength in both markets is hanging at neutral. The overall technical picture slightly positive but not by much. That the 10-Year Note this morning is back over 2.00% somewhat negates its close yesterday below 2.00%. With U.S. markets being completely dominated by what happens in Europe the outlook for U.S. interest rates in the end is impossible to anticipate. Bottom line; markets are adrift in a sea of uncertainty over Europe and the impact on the U.S. economy.

The problems in Europe escalated overnight

Yesterday in Italy, Prime Minister Berlusconi’s offer to resign boosted optimism Italy would appoint a new leader who can tame the debt crisis.  Europe and U.S. stock markets rallied and interest rates increased on the idea that progress was being made.  That all lasted about 20 hours; this morning Europe’s equity markets are lower and in the U.S. the DJIA (Dow Jones Industrial Average) opened down 200 points, the 10-Year Note at 9.30, +32/32 at 1.97%, -11 bps and mortgage prices +11/32 (.34 bps).

French banks taking huge hits this morning on deposit factor for Italian bonds due in 7-to-10 years will be raised to 11.65%, the French unit of LCH Clearnet said.  That compares with a charge of 6.65% announced last month.  Clearing houses guarantee that investors’ trades are completed by standing in the middle of two counterparties and raise margin requirements to protect themselves against losses should one side of the trade fail.  French banks face collateral damage from the political turmoil that sent Italy’s bond yields to euro-ear records.  Austerity measures to balance Italy’s budget are also threatening growth in an economy that has lagged behind the European average for more that a decade and may hurt the French banks’ consumer businesses.

Italy’s $2.6 trillion of debt is the world’s forth largest, behind the U.S., Japan and Germany and more that that of Greece, Spain, Portugal and Ireland combined.  Relative to gross domestic product, it is the highest in Europe after Greece, standing at about 120%.

Events in Europe continue to drive U.S. markets, everyday analysts try to assess each event that occurs.  Yesterday markets were motivated by Berlusconi’s offer to resign after he failed to get necessary votes of confidence; U.S. stocks rallied, U.S. interest rates increased.  This morning the U.S. 10-Year Note yield is trading once again just below 2.00% and U.S. stock indexes are being hit hard in early trading.  Yesterday markets believed the Italian crisis was on the path of being dealt with, today with margins increasing and Italy’s 10-Year Note at the highest ever since the EU was formed in 1999 another round of panic.  Focus now will likely be on the ECB, whether it will step up and buy Italy’s debt and take the pressure off…for the moment.

Investors moving out of equities ths morning and into treasuries on worsening outlook in Italy and the inability of all of Europe’s various entities cannot agree on what to do.  Over 2 years and the problems continue to worsen.  G-20 leaders last week balked on having the IMF taking a larger roll; politicians running for cover and everyone looking out for number one.  Europe is going to fall back into recession, as it does U.S. equities will be drawn down; safely into treasuries  is the likely outcome with possibly much lower rates.  Talk is cheap as it is said, the 10-Year Note, pacesetter for mortgage rates, while under 2.00% this morning has yet to sustain a close below 2.00% since late September when Operation Twist was announced and then it didn’t hold long.  Since then though the debt crisis in Europe has increased; improving the view that U.S. rates could decline.

In the “it doesn’t matter” column this morning September wholesale inventories expected up 0.6%, were down 0.1% with inventory/sales ratio unchanged from August at 1. 15 months

At 0100pm this afternoon the Treasury will auction $24 billion of 10-Year Notes; yesterday the 3-Year Note auction went well.  Today with rates lower the demand for the 10-Year Note will be interesting’ a solid auction would add to the increasing bullishness.

The day is just getting underway; all focus will be on what if anything comes from the ECB and what the central bank will do to curb the explosion in Italian interest rates.  Greece is still not making any quick headway in forming a new government but the attention is all on Italy at the moment.