For Week Ending June 15, 2019
As anticipated, the Federal Reserve did not change the target range for the federal funds rate (currently set at 2.25% to 2.5%) during their most recent meeting, but the door was left open for a possible rate reduction in 2019 following a string of increases over the last several years. Although the economy is still performing well due to low unemployment and solid retail sales, trade tensions, slowed manufacturing and meek business investments have created uncertainty.
In the Twin Cities region, for the week ending June 15th (All comparisons are to 2018):
- New Listings remained flat at 2,069
- Pending Sales decreased 2.0% to 1,463
- Inventory increased 1.0% to 11,687
For the month of May:
- Median Sales Price increased 5.2 to $285,000
- Days on Market decreased 4.3% to 45
- Percent of Original List Price Received decreased 0.2% to 100.0%
- Months Supply of Homes For Sale increased 4.3% to 2.4
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2019 ShowingTime.
By Melissa Dittmann Tracey, REALTOR® Magazine
It’s been gray mania in home design over the last few years. We first saw grays grow as the base wall color in homes, then within flooring, furniture (hello, gray sofas!), and now gray colored kitchen cabinets are all the rage. Gray is everywhere!
And while all these gray home décor items individually are certainly still trending, using them all together — well, it can be a little much. Remember, even Dorothy from “The Wizard of Oz” eventually opened the door to the delight of cheerful colors.
Let’s not forget, gray isn’t exactly the happiest, most cheerful color. It’s a neutral, and it needs to be mixed with color to make it pop.
So to liven up your grays, pair gray-colored walls with an accent color, like greens, yellows, or navy patterned accent chairs, pillows, or rugs. Here, the designer uses a blue velvet sofa to break up the gray.
For the kitchen, avoid the temptation to pair gray walls, gray flooring, and gray colored cabinets. Instead, try a contrasting shade, like a different color kitchen island to offset some of the gray.
By Patti Stern, PJ & Company Staging and Interior Decorating
You want potential buyers to remember a property from the moment they step though the front door. Think beyond just furnishings and décor and present a lifestyle that they can envision—all through memorable, engaging home accents.
Add in Pops of Bold Hues
For the gorgeous living room shown above, our design team chose versatile navy-blue as the primary accent color. The color really pops and makes a statement against the soft, neutral backdrop. Since this room is one of the first that guests will notice upon entering the property, the use of an eye-catching color creates a focal point to draw potential buyers into the space. The cozy velvet side chair, accent pillows, artwork, and pottery work together to create a sophisticated space.
Set the Scene
Once the furnishings and decor are chosen, set the scene. We arranged trays and baskets on tabletops to help immediately draw buyers into the space and emotionally connect. In the photos above, we chose a collection of coordinating accents with texture and personality, such as plants, flowers, colorful bottles, napkins, and wine glasses to convey a lifestyle and enhance the home’s unique style.
Artwork is a great way to add a subtle touch of warmth. We’ve found that using simple imagery with soothing hues or text with a short message works best to add to the room’s style while not detracting from its best features. The canvas “Home Sweet Home” wall art and abstract art for the fireplace (shown above) were the perfect finishing touches in the farmhouse style kitchen we recently staged with soft creams, wired baskets, and pine furnishings.
Invite in Textures
Layering and mixing textures creates depth and visual interest in any space. In the rooms shown above, we started with beautiful area rugs that contrast well with the dark hardwood flooring and added a mx of textured accents, such as a faux fur throw, pillows in different fabrics, wood, gold and silver metallics, wire, glass and ceramics. The final result is an engaging space that will instantly get noticed by buyers.
For more examples of interior decorating and home staging, visit www.pjstagingdecorating.com.
ABOUT THE AUTHOR: Patti Stern is the principal, interior decorator, and professional stager of PJ & Company Staging and Interior Decorating. She has been staging and decorating homes for more than 13 years. She and her team provide turnkey, full service home staging and interior decorating throughout Connecticut and Westchester and developed an award-winning staging program for luxury homebuilder, Toll Brothers. Her company has received Houzz 2015–2019 Awards for Customer Service. Patti also has been featured as a staging and decorating expert on NBC Connecticut and FOX TV as well as a variety of local publication,s such as Connecticut Magazine, the Hartford Courant, and more. She is a regular contributor to the Styled, Staged & Sold blog. Email her at: firstname.lastname@example.org
By Kris Kiser, President & CEO of the Outdoor Power Equipment Institute (OPEI)
As the spring selling season kicks into high gear, real estate and staging professionals can help their clients enhance their listings by creating an outdoor space that is attractive to buyers. The family yard not only can expand living space, it also reconnects families and pets with nature and provides a natural setting to reduce stress, improve memory, boost mood, among many other benefits.
Here are five points to consider:
1. Understand potential buyers’ lifestyle needs.
Determine how a potential buyer might use the yard, then plant accordingly. Does the yard need more shade for hot summer days? Is it lacking a grassy area for kids and pets to play?
2. Know the climate zone.
Help your clients select climate-appropriate plants that will thrive with minimal input. The USDA Plant Hardiness Zone Map indicates which grasses, shrubs, and trees are most likely to succeed in a specific location.
3. Plant for pets.
More families are including pets in their lives so consider animal’s needs when planting. Hardy grass withstands pet traffic. Soft, yet sturdy, foliage is a good choice for heavily-trafficked areas. See which plants are dangerous to pets by downloading the ASPCA’s list of poisonous plants.
4. Attract pollinators & wildlife.
The home habitat is also vital for pollinators (bees, butterflies, and birds) and other wildlife that rely on backyard plants for food and shelter. Planting climate-appropriate, pollen-rich flowers will help nourish pollinators, while creating a vibrant outdoor scene buyers will appreciate.
5. Stage the outdoors.
Showcase how the space will be used, including setting outdoor tables, having a barbecue grill set up, and other touches that show people can “live” in the space.
ABOUT THE AUTHOR: Kris Kiser is the president and CEO of the Outdoor Power Equipment Institute (OPEI) and the OPEI Education and Research Foundation. The Outdoor Power Equipment Institute (OPEI) is an international trade association representing power equipment, small engine, utility vehicle, golf car and personal transport vehicle manufacturers and suppliers. OPEI is the advocacy voice of the industry, and a recognized Standards Development Organization for the American National Standards Institute (ANSI) and active internationally through the International Standards Organization (ISO) and the International Electrotechnical Commission (IEC) in the development of safety and performance standards. OPEI is managing partner of GIE+EXPO, the industry’s annual international trade show, and the creative force behind the environmental education program, TurfMutt.com. OPEI-Canada represents members on a host of issues, including recycling, emissions and other regulatory developments across the Canadian provinces.