Why people left Colorado during the pandemic

 
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The COVID-19 outbreak led to a small increase in departures from Colorado, a new study shows.

Why it matters: The numbers suggest the pandemic tempered the state's recent growth trends.

What they did: Researchers analyzed 100,000 moves in the last year to find:

  • The top reason people moved out of Colorado was the cost of living.

  • The main driver for arrivals is a desire for a lifestyle-related change.

  • Colorado saw more wealthy people — those making over $100,000 — arrive than depart, part of a broader national trend away from the coasts.

The intrigue: The young people who flocked to Colorado in recent years and made Denver a millennial hub so far have stayed put during the pandemic.

 
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For more info, visit AXIOS.

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Rents for single-family homes just saw the largest gains in nearly 15 years

 
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Even as the coronavirus pandemic ebbs and Americans get back to work and play, they still want more space at home. But with home prices hitting record highs, demand for single-family rental homes is soaring – and so are the rents. 

Single-family rents were up 5.3% year over year in April, rising from a 2.4% increase in April 2020, according to CoreLogic. That is the largest gain in nearly 15 years.

Rents for single-family detached homes (not townhomes), were up an even stronger 7.9% compared with a year ago, as millennials in particular seek more outdoor space. Nearly half of millennials surveyed by Corelogic, and 64% of baby boomers, said they, “strongly prefer” to live in a single, stand-alone home.

“Single-family rent growth showed a strong rebound in April 2021 with all price tiers back above their pre-pandemic rent growth rate,” said Molly Boesel, principal economist at CoreLogic. “While rent growth slowed last April at the start of the pandemic, the rate of rent growth this April was running above pre-pandemic levels even when compared with 2019 and shows no signs of diminishing.”

The rent gains are across all price categories, even low end, which exceeded pre-pandemic rent increases for the first time. By category, the gains are as follows:

·       Lower priced (75% or less than the regional median): 3.9%, up from 3.2% in April 2020

·       Lower-middle priced (75% to 100% of the regional median): 4.8%, up from 2.5% in April 2020

·       Higher-middle priced (100% to 125% of the regional median): 5.1%, up from 2.3% in April 2020

·       Higher priced (125% or more than the regional median): 6.1%, up from 2.2% in April 2020

Regionally, by top 20 metropolitan markets, rent gains were highest in Phoenix, where single-family rents were 12.2% higher than a year ago. Next, Tucson, Arizona, with a gain of 10.6%. That was followed by Las Vegas at 9.3%. Atlanta, which had the lowest unemployment rate of the 20 metros, came in fourth at 9.1%.

On the flip side, Boston saw an annual decline of 5.9% in rent prices and has experienced the largest decrease of the 20 metropolitan market rent prices for nine straight months. Chicago was the only other decliner, at 2.6%.

With home prices continuing to gain at a double-digit pace, and more potential buyers being priced out, demand for single-family rentals is unlikely to cool anytime soon.

“The inflation that is currently here is slowing the most interest rate sensitive part of the economy, that being housing,” said Peter Boockvar, chief investment officer at the Bleakley Advisory Group.

Read more on CNBC.

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The Pandemic Pool Frenzy Continues

 
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Inground swimming pools are in high demand, causing longer waits and higher prices for homeowners on a quest to create a staycation oasis.

These days, the hottest home outdoor amenity is a backyard pool. The COVID-19 pandemic has brought a huge wave of interest and increased desirability for stay-at-home entertainment, but home shoppers should be prepared to pay a premium for a house with a pool or to have one installed.

“We’re seeing homes with pools sell for $50,000 to $100,000 more than those without, though every house is selling now for a higher price due to the pandemic,” says real estate salesperson Debbie Marie, with Wavecrest Real Estate in Irvine, Calif.

Even in the colder Northeast, real estate salesperson Stephanie Mallios with Compass RE, Team Mallios, in Short Hills, N.J., started to see a surge start last summer when people couldn’t go to public pools due to pandemic closures. And now, despite many getting vaccinations, some public and private pools require a reservation to keep numbers down, so interest in home pools continues.

“Homeowners may have to wait since many pool contractors are booked until next year,” Mallios says.

Besides waiting, they’ll also have to pay more since prices have skyrocketed, often tripling, says landscape designer Michael Glassman of Michael Glassman & Associates in Sacramento, Calif.

One new trend that may help meet demand is installing a pool made from a recycled shipping container, which cuts the timetable and cost. According to Modpools, a Canadian company that offers various models and ships them by flatbed truck to U.S. sites. Its pools can be up and running the day they arrive, with a homeowner being able to control temperature, lights, and jets from a smartphone.

If your clients are considering installing an inground pool, here are some points they should consider.

Size. Size varies depending on use and budget, but a typical pool averages 15 feet wide by 30 to 35 feet long, says Glassman. For those who primarily want a pool for laps, its width may be narrowed to 10 feet and length extended to 50 feet or so, he says.

Depth of water. This typically varies depending on use, which may mean 3½ feet at each end and 5½ to 6 feet deep at center, Glassman says. Other pools may have a shallow depth throughout since fewer people use pools for diving.

Style. Long gone are the kidney-shaped pools of years past. What’s in now is a classic, elegant rectangle.

Materials. Many in-ground pools are now designed to last longer and be sustainable because they’re built of gunite with the interior plastered a shade of gray, which looks like a Tahoe blue once water is added, Glassman says. A decorative rim of tile is added at the top. Some prefer fiberglass pools because of the material’s lower price, but it has a tendency to break down, crack, and peel faster, Glassman says. Today’s coping or pool surround is usually some type of stone, such as travertine or concrete, both of which won’t get hot in warm weather. One current “in” look is to install big squares with space left between for faux grass to be interspersed. “Hot weather and lack of water won’t kill it,” Glassman says.

Heated or not. Due to the cost of heating a pool, many homeowners are using solar, says Marie. Solar panels are usually installed on the roof of the residence, guest house, or pool house. A homeowner can then install an electric heater that operates on the solar energy panels on the roof to heat the pool.

Saltwater vs. chlorine. A few years back, having a saltwater pool became popular to avoid chemicals that irritate skin, eyes, and hair, but now some homeowners are finding that saltwater can damage the valve actuators used to open and close the pool pump. As a result, people are again asking for chlorinated pools, says Glassman.

But there is a third option: Companies like Chester, N.J.–based BioNova Natural Pools have gained a following because they offer a natural, chemical-free option. Founder, CEO, and President James Robyn’s original concept was to install two pools—one for swimming and the other for “regenerating” with a biological filter of aquatic plants or beneficial microbes to control algae and clean the water. More recently, Robyn developed a “biofilm” filter that eliminates the need for the second pool, so the cost is lower and the space needed is smaller. The price usually is comparable to chemical pools—around $100,000, Robyn says.

Bells and whistles. Though simple in shape, more luxurious pools still include extras, such as steps that are wide and long to accommodate a chaise for sitting or lying in the water, known as a “Baja shelf.” They may also feature a space for an umbrella to shade swimmers, Glassman says. Many also include an attached spa or are embellished with a cluster of boulders and a recirculating waterfall for a natural look.

Others even include a fire bowl or several bowls since fire and water are a favorite pairing, with some in-pool and exterior lights for night use that add drama and ambiance.

Safety. To keep young children safe, an alarm that senses movement in the water can be installed in the pool. Many homeowners are also forgoing a diving board, opting for a design with a slide instead.

Retrofitting or removing a pool. Remodeling a pool costs much less than starting from scratch—often $35,000 to $40,000 versus $75,000 to $80,000 and up, says Glassman. Costs vary according to labor and the bells and whistles. Removing a pool will run at least $20,000, he says.

Keep reading.

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Find a Dog a Home: Meet Scooby

 
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My name is Scooby and I’m a 3 year old boxer boy with such a loving personality.

I get along well with most other dogs and am friendly with people. I take treats like a gentleman and know my basic obedience commands. I can become nervous around seemingly innocuous things (clipboards, plastic bags, etc), so a home without too much commotion (no kids please!) would probably be best. And, of course, a family that’s committed to helping me feel confident and brave! I do recover well after being startled though and am a total love!

Scooby's home requirements:

No kids

Dogs ok

6 ft fence

Cats unknown

For more information, contact Leslie!

As Featured in the West + Main Home Magazine: Storage Solutions

 
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The first thing I noticed, after I walked in and fell in love with our 1906 bungalow, was that there was no coat closet.

Relocating from NYC, we had A LOT of coats - short coats, long coats, puffy coats, you name it, we have them. With a never-ending list of projects in our new home, the coat closet was not the first priority. So, for the first 6 months we used a clothing rack right inside the front door, calling it (jokingly) our "exposed coat closet" - but it was a messy eyesore.

When it was time for the coat closet project, the first thing we did was sketch out a design including space for all shape and size coats as well as some shelving for miscellaneous items. After many, many trips to Home Depot, and a full weekend of work, we could not be happier or more proud of the finished product. As is the goal with any DIY project, it looks like it has always been there.

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For more remodel inspiration, checkout the first two editions of our magazine here.