The New Year is a great time to consider making some improvements to your home. They say that “green” is the new black, so why not start with a few simple ways to make your own house more environmentally friendly. Not all “green” living and design has to be dull and uninspired. In fact, the world of green design is growing and expanding to include some of the most impressive homes Malibu and the surrounding area has to offer. What design elements strike the perfect balance between environemental responsibility and high style design?
Landscape with Native Plants. When designing your exterior, look for local vegetation and climate-appropriate species. This will reduce water and energy inputs as well as increasing the likelihood that your lovely landscaping will last.
Learn to Propagate Houseplants. You can quickly turn one plant into ten, making a design-perfect bunch to be placed strategically throughout your home. As an added plus, plants keep the air fresh and remove offensive toxins.
Buy Eco-Friendly Building Materials. It’s easy to make eco-friendly and socially conscious purchases. Sustainable (and design-friendly) woods include eucalyptus and bamboo. Recycled barn wood is popular right now, and upcycled wood is a sustainable choice. Choose natural stone over manmade synthetics and go for glass as opposed to plastic. No need to sacrifice style for sustainability!
Prudential Real Estate joined forces with “Designing Spaces” the popular home-improvement show on Lifetime Television, to sponsor a special eight-part series called Designing Spaces/Military Makeover.
The series documents home renovations for war veterans and highlights Prudential’s Military Advantage Program, which offers active members of the armed services and veterans special benefits and services when they buy or sell a home. Each show features a Prudential Real Estate professional offering advice on the real estate process.
Want to know more? Watch an episode of the show featuring a Prudential Real Estate Agent, Click Here.
According to Malibu real estate agent Mike Gardner, the volatility of the real estate market has required a much more creative and radical approach to marketing. To attract a large number of agents and their clients, and to generate added publicity, this top producing agent for Prudential California Realty recently held a raffle for a $300 gift card for Botox at an open house for one of his listings in Beverly Hills.
Already well known as a specialist in Malibu real estate and an expert using internet marketing, Gardner’s approach was so impressive that he was featured on Good Morning America. The segment is centered on some of the innovative marketing campaigns that are being utilized by the industry’s most elite professionals.
To maximize the level of service his buyers and sellers receive, Gardner utilizes advanced communication technologies and advertises in the most highly-trafficked print and online destinations. He noted that his proficiency with cutting-edge technology allows him to stay more connected with his clients, stay current with the latest developments in real estate, and create detailed property websites for each of his listings.
As a result of Gardner’s expertise, one of his clients was even able to sign all the necessary forms for the closing of his $11m home from his Iphone while on the beach in Malibu. The story, as well as additional testimonials from satisfied clients, can be viewed in more detail on the about page on Gardner’s Malibu real estate blog
For qualified real estate assistance, please contact Mike Gardner at 310-699-8428.
The down market may have left depressed home values across much of the nation, but an overwhelming 72 percent of renters still say owning a home is a top priority. The National Association of Realtors’® (NAR) 2011 National Housing Pulse Survey revealed that homeownership, and access to it, are on the minds of renters.
“Despite the economic setbacks Americans have experienced in today’s current climate, it is clear that a strong majority still believe in home ownership and aspire to own a home,” said NAR President Ron Phipps, broker-president of Phipps Realty in Warwick, R.I.
One of the main obstacles to homeownership remains readily available credit and struggles to procure a down payment. The proposed Qualified Residential Mortgage rule, which would require a 20 percent downpayment, has raised concerns from many industry leaders.
The NAR survey revealed that 51 percent of self-described “working class” homeowners who currently own their homes said this new rule would have been a road block to homeownership for them. This same statistic applied to younger non-college graduates, African Americans, and Hispanics.
According to NAR, “Pulse surveys for the past eight years have consistently reported that having enough money for a down payment and closing costs are top obstacles that make housing unaffordable for Americans. Eighty-two percent of respondents cited these as the top obstacle, followed by having confidence in one’s job security.”
Some pundits argue, however, that unchecked lending to underqualified candidates is what led to the housing collapse in the first place. According to the National Bureau of Economics, only 51 percent of Americans could come up with $2,000 cash in case of an emergency. This begs the question, “What part of this 51 percent should be qualified for mortgages to raise homeownership rates?”
Homeownership rates were below 50 percent in the first half of the 1900’s, and only began to rise in the last few decades. Has the recent rise mirrored past gains during times of robust economy. The U.S. Census Bureau reports, “The homeownership rate declined slowly but steadily from 1900 to 1920. A robust economy in the 1920s raised the homeownership rate, but the Great Depression drove the rate to its lowest level of the century at 44 percent in 1940.”
Of course, the interesting statistic would be how many people currently own their homes outright with no mortgage. Recent estimates are around 30 percent. The current foreclosure crisis has taught us that having any mortgage at all means the home is not your house; it’s the bank’s. That means only 30 percent of Americans are homeowners in the truest sense of the word, as harsh as this statistic might sound.
Never- Pay- Retail Decorating: A Bargain Huntress Reveals Her Secrets
Annie Schlechter for The Wall Street JournalLIVING ROOM | The Dunbar mosaic tile cocktail table, now worth $18,000, was a $60 flea market prize. Even the Saarinen Tulip table was a deal (no tax, no shipping) online, at circa50.com.
Shake Down Retailers for Sample Sale Details. Almost every vendor does it, even if they don’t broadcast the news. The best way to get the word is by hitching yourself to a particular salesperson. Call them by first name, exchange emails and inquire about the timing of their next event. To make sure you don’t lose an item to a nimbler shopper, stake your claim. I once planted myself on a Ligne Roset chair, tagged 70% off retail, and didn’t budge until my credit card went through. If you’re after big game, such as a sofa, arrange beforehand to have a truck or a moving service on stand-by.
Annie Schlechter for The Wall Street JournalDESK SET | It paid to wait for Blu Dot’s 20% off sale, making the desk a tad more affordable; the Eames Aluminum Group chair was a surprise find at Design Within Reach’s outlet store — at half off.
Be First in Line at Special Design Events. Once through the door, use laser-like focus to nab only what you need. At a recent charity design event, I was briefly distracted by a $45 painting. But I got back on track to land an 8×10-foot graphic-design carpet from The Rug Company—the ne plus ultra of textiles—for 85% off.
Research Product Names. Not all shops make their own stuff, and most won’t readily share manufacturers’ details with you. After swooning over a nine-drawer mirrored chest at a Manhattan atelier, I typed the name of the piece (which was scribbled on the price tag) into Google. Up came the maker, along with the chest’s (lower) suggested retail price and other vendors. I bought it for a fraction of the boutique price with the help of a decorator friend.
Annie Schlechter for The Wall Street JournalBEDROOM | The curvy ’40s mirror that hangs over the bed was $135 at an antiques barn in Stanfordville, N.Y.; the lamp and nightstand were scores from a Jonathan Adler warehouse sale.
Join the Art Club. Filling a blank wall canvas is tough for most of us. You can access gallery-worthy pieces by joining so-called Collectors or Editions Clubs. Sponsored by various arts centers, memberships cost a few hundred dollars annually and include a limited-edition work by a different artist each year. I cherish my Polly Apfelbaum “Tough Love” lithograph from Tamarind Institute (tamarind.unm.edu). I got it in 2007 for $450; it has a current value of $1,500. Check out similar programs at Dieu Donné (dieudonne.org) and the Center for Contemporary Printmaking (contemprints.org).
Think of Old as New Again. Places like West Elm sell variations of vintage objects, especially glass and ceramics. But the real thing, easily found at flea markets and on eBay, can be a better buy, and a better investment. An example: Designs by Waylande Gregory, an Art Deco ceramicist, are being reissued for prices that can exceed $1,000. Some of his originals are online for much less. Other great names to investigate: Blenko (American) and Holmegaard (Danish).
Rock Bargains Outside Your ZIP Code. When I spotted Ric Ocasek at a two-story antiques joint near Millbrook, N.Y., I figured I was onto something good—and I was right. I scored a midcentury Harvey Probber nighttable for $45. The best such places aren’t usually located on the main drag of exclusive towns, but rather a few turns down the road—so ask around.
Annie Schlechter for The Wall Street JournalHOME GALLERY | Bargain eclectic art hangs over a mirrored chest from Bungalow 5 (purchased at discount with a decorator friend’s help).
Be Charming, Be Curious. If you can genuinely engage staffers, a bargain is sure to slide your way. The warehouse manager at Jonathan Adler declared, “I love your laugh!” and knocked another $200 off the sale price of a glossy black patent Regency-esque chair. Remembering sellers—and touting them to friends—is also key. This shows your willingness to help promote their wares.
Home sales are expected to stay on an uptrend through 2012, although the performance will be uneven with mortgage constraints weighing on the market, according to experts at a residential real estate forum today at the REALTORS® Midyear Legislative Meetings & Trade Expo here.
Lawrence Yun, NAR chief economist, said existing-home sales have been underperforming by historical standards and will rise gradually but unevenly. “If we just hold at the first-quarter sales pace of 5.1 million, sales this year would rise 4 percent, but the remainder of the year looks better,” Yun said. “We expect 5.3 million existing-home sales this year, up from 4.9 million in 2010, with additional gains in 2012 to about 5.6 million — that’s a sustainable level given the size of our population.”
Mortgage interest rates should rise gradually to 5.5 percent by the end of the year and average 6.0 percent in 2012 — still relatively affordable by historic standards.
“A huge volume of cash sales, supported by the recovery in the stock market, show that smart money is chasing real estate. This implies that there could be a sizeable pent-up demand if mortgages become more readily accessible for qualified buyers,” Yun said. “The problem isn’t with interest rates, but with the continuation of unnecessarily tight credit standards that are keeping many creditworthy buyers from getting a loan despite extraordinarily low default rates over the past two years.”
Yun said that if credit requirements returned to normal, safe standards, home sales would be 15 to 20 percent higher. He added that some parents are buying homes with cash for their children, and offering them loans which provide better returns than bank accounts or CDs.
Yun projects the Gross Domestic Product to grow 2.5 percent this year and 2.7 percent in 2012, adding 1.5 million to 2 million jobs yearly over the next two years. The unemployment rate should decline to 8.8 percent by the end of 2011 and average 8.6 percent next year, returning to a normal level of 6 percent around 2015.
Housing starts are forecast to rise but remain below long-term trends, reaching 603,000 in 2011, up from 595,000 last year, and continue growing to 908,000 in 2012. New-home sales are seen at a record low 320,000 this year, rising to 487,000 in 2012. “A recovery in new homes will be slow because of the extra price discount in the existing home market,” Yun noted. In March, the typical new single-family home cost $53,300 more than an existing home.
Inflation appears to be relatively modest for now, with the Consumer Price Index rising 2.9 percent this year. “We’ll be closely watching the impact of fuel costs on consumer spending and inflation — that would slow economic growth, job creation and home sales,” Yun said.
Apartment rents are trending up, and are likely to rise at faster rates as vacancies decline. Following the correction in home prices, it has now become more affordable to buy in most of the country. “Twice as many renters had enough income to buy a home in 2010 in comparison with 2005, so we have a much larger pool of financially qualified renters,” Yun said. “Rising rents and excellent housing affordability conditions will encourage potential buyers who’ve been on the sidelines.”
Yun expects the median existing-home price to remain near $170,000 over the next two years, which would mark four consecutive years of essentially no meaningful price change.
Frank Nothaft, chief economist at Freddie Mac, holds similar views on the outlook. “Economic activity will accelerate this year — there will be no double dip in the economy,” he said. Nothaft is more optimistic on job growth, expecting 2.0 million to 2.5 million jobs created in 2011 with unemployment dropping to 8.4 percent by the end of the year.
Nothaft expects the 30-year fixed-rate mortgage to trend up to 5.25 percent by the end of the year, and for home sales to rise 5 percent. “National home price indices are close to a bottom and prices are likely to bottom sometime this year,” he said.
Refinancing activity in 2011 will be only half of what it was last year. “As a result, banks may become more willing to lend to home buyers,” Nothaft said.
Prudential Real Estate and Relocation Services commissioned Prudential’s Global Market Research Group to survey consumers between the ages of 25-64 who are in the market to buy a home. Our 2011 survey found that Americans are significantly more optimistic about real estate today than a year ago and, despite economic volatility, their belief in real estate as a good investment is unshaken. In fact, most feel that the real estate market and property values will see recovery in the next year or two, and they highlighted the importance of real estate agents in the home-buying and selling process.
We shared survey findings with Sales Convention attendees March 7-8, and then launched a media blitz in the early-morning hours of March 10 starting with PRERS Chairman Jim Mallozzi conducting 21 live television and radio interviews and two taped sessions. Survey coverage was picked up by 174 TV stations and national radio programs representing more than 25 million viewers and listeners. Click TV News Coverage to watch a sampling of the interviews.
At 9 (Eastern) that morning, we blanketed the national and regional press as well as real estate trade publications with our press release, “Americans Confident in Recovery of Real Estate Market.” The Wall Street Journal was among the first to file stories. When the dust finally settled our press release generated 19,503 headline impressions on the Internet.
Local press coverage of our survey findings shows that our affiliates are using the survey press release template, which is attached below along with accompanying PowerPoint slides. The entire process heightens Prudential brand awareness and underscores our Network’s position as the authority on residential real estate.
![[DESIGN]](http://si.wsj.net/public/resources/images/OD-AH836_DESIGN_G_20110614183117.jpg)
Annie Schlechter for The Wall Street JournalLIVING ROOM | The Dunbar mosaic tile cocktail table, now worth $18,000, was a $60 flea market prize. Even the Saarinen Tulip table was a deal (no tax, no shipping) online, at circa50.com.
![[DESIGN]](http://si.wsj.net/public/resources/images/OB-OJ394_DESIGN_DV_20110617141557.jpg)
Annie Schlechter for The Wall Street JournalDESK SET | It paid to wait for Blu Dot’s 20% off sale, making the desk a tad more affordable; the Eames Aluminum Group chair was a surprise find at Design Within Reach’s outlet store — at half off.
![[DESIGN]](http://si.wsj.net/public/resources/images/OD-AH833_DESIGN_DV_20110614182921.jpg)
Annie Schlechter for The Wall Street JournalBEDROOM | The curvy ’40s mirror that hangs over the bed was $135 at an antiques barn in Stanfordville, N.Y.; the lamp and nightstand were scores from a Jonathan Adler warehouse sale.
![[DESIGN]](http://si.wsj.net/public/resources/images/OD-AH832_DESIGN_DV_20110614182837.jpg)
Annie Schlechter for The Wall Street JournalHOME GALLERY | Bargain eclectic art hangs over a mirrored chest from Bungalow 5 (purchased at discount with a decorator friend’s help).
