Home equity skyrocketed during the first quarter of 2022

 
 

A recently published CoreLogic report found homeowners with mortgages in the first quarter of 2022 saw their equity grow by 32.2% year-over-year.

According to the data vendor, the collective equity gain was $3.8 trillion in the first quarter, or an average gain of $63,600 per borrower. CoreLogic said homeowners with mortgages account for roughly 60% of properties in the nation.

Patrick Dodd, CEO of CoreLogic, said home equity grew in tandem with home prices, which were up by 20% in March, compared to a year earlier.

“This has led to the largest one-year gain in average home equity wealth for owners and is expected to spur a record amount of home-improvement spending this year,” Dodd said in a statement.

But $63,000 was just the average gain. Per the quarterly report, published this week, homeowners in California, Hawaii and Washington saw their equity increase by more than $100,000 in the first quarter of 2022 compared to the prior year.

The upward trajectory of home prices meant some 62,000 homeowners regained home equity compared with the previous quarter, according to CoreLogic. In another report published last month, CoreLogic said the explosive pace of home price

CoreLogic also found only 2% of homeowners with a mortgage “remained underwater” in the first quarter of 2022. The data vendor labels underwater mortgages as those with negative equity, in which a borrower owes more on their mortgage than their home is currently worth.

From the fourth quarter of 2021 to the first quarter of 2022, the total number of homes with negative equity dropped by 5.3% to 1.1 million homes, according to the report.

Year-over-year, the number of underwater mortgages dropped by 23%, or close to 300,000 properties. In the first quarter of 2021, 1.4 million homes — or 2.6% of all mortgage properties — were in negative equity, CoreLogic found.

The data vendor predicts borrowers with minimum equity gains around 5% are “most likely to move out of or into negative equity as prices change.”

If home prices increase by 5%, close to 130,000 homes would regain equity. However, if home prices plummet by 5%, 167,000 properties will would move into “underwater” territory,” according to the CoreLogic report.

Read more like this on Housing Wire.

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Meet the Maker: William Day

 
 

Meet Wiliam Day!

William Day is an American painter known for his large-scale compositions of colorful shapes and energetic marks. Now living in Boulder, Colorado, Day can often be found in his studio working on multiple pieces at the same time. His process leads him to create paintings in series, each focusing on different nuances of the human experience. His works are comprised of textures and complex layers demonstrating his interaction with a canvas in a moment. These series of paintings all nod to certain periods of Day’s life that bring years of intensity, joy, spirituality, conflict and resolution to the canvas.

 
 

Learn more about William in our Q+A below!

How did your business come to exist?

A turning point in my life were the events surrounding September 11th, 2001 when my wife Aimee narrowly survived the collapse of the World Trade Towers. After that experience, I ended up leaving my career in finance and went on to study architecture, which in turn led me to painting. I knew I had to change so I could adapt to the world, embrace my creative spirit, and start living from my heart, and that's when my artistic soul came alive. I believe we all reach a point in our lives where we have to make a choice and it's a call to action. To act from a place of authenticity within ourselves, while sometimes not knowing what and when that is, but still a place where we are reminded we can do great things. When I decided to move from acting from a place of fear to instead a place of courage and adventure it became a very spiritual journey. I learned to let go of that fear and work from the heart. That's when I started to embrace the creative side of myself.

 
 

What are you known for?

I am known for creating a series of large-scale arrangements of colorful shapes and innate energy, each series reflecting on a concept around the human experience. Working in oils and acrylics, my work digs deeper into the relationship between these contemporary structures and layered textures, helping people find a personal connection to my paintings. I primarily work in my studio in Boulder where I can create these often towering pieces. My goal is to always change how we inspire each other through art and to help heal through more of a positive relationship with the people around me.

What are you working on right now?

Each year I tackle a different emotion or premise to explore. Right now I am working on some conceptual ideas around rebirth and freedom. I am asking questions like, "how do we move forward in a time of a pandemic?" And "how do we help each other rediscover joy and curiosity again?". I want viewers and collectors to look within themselves to change the narrative when experiencing the work. To be able to take a deep breath and open their minds to being curious, hopeful, and playful again.

 
 

What is your biggest challenge?

The constant challenge is to believe in yourself and trust what you're creating. To connect to people but to also stay curious and to learn how to see and be receptive to new things around you; to be open so you can receive these incredible spiritual influences and curiosity triggers. I often find that I need to be in a place of joy and happiness so I can create joy and happiness within my work. Sometimes that can also be a challenge to pull from those emotions; to figure out what I'm going to say to the world and say something that will make an impact.

Where do you find inspiration?

I find inspiration in every experience in life using my family, community, spirituality, and looking inward. I have also found inspiration in the call to action I felt after 9/11, and found the motivation to pursue my art. Those events shattered my confidence, hope, courage, and from that darkness arose this incredible light. I was allowed to realign with my creative self, and that is a sustainable source of inspiration is something I draw on to this day.

Get in touch with William

Instagram: @willdayart

Website: www.willdayart.com/


Check out Will Day’s show at Black Lab Sports in Boulder! Now through mid-August!

BOULDER, Colorado (MAY 4, 2022)- Will Day to open his 2022 solo show titled “BREAKOUT” at Black Lab Sports in Boulder. Day, a painter known for his large-scale and contemporary abstract style, will exhibit his new collection of paintings that reflect Day’s theme surrounding reset and breaking out.

His work speaks to a unique set of trials and tribulations of our contemporary times. He views the entirety of the world through a lens of abstraction, bringing the intangible elements of life and the universe into visual representations.

“Making the familiar look new,” Day says about the artwork. “How can we break out of the old and find the new? I want to be a spark and provide an outlet to engage people to be more curious and hopeful.”

“My intent with this body of work is to reflect nature resetting and renewing. It was my goal to share these emotions on canvas, using vibrant colors and heavy textures that I have not used before but nevertheless felt familiar to me.”

Among the work, attendees can expect to see Day’s painting “Rising” in the show, a multilayered, vividly textured piece true to his contemporary abstract style. Using the purity of colors seen commonly in the spring season, Day replicates the explosion of nature’s renewal in bold brush strokes and arresting visual elements. This fresh portrayal of spring is only rivaled by the season itself.

The exhibit will be hosted by Jean-Paul O'Brien of Black Lab Sports. “Will Day is a key component to our ecosystem, questioning the world around us,” says O'Brien. "I hope you will be inspired and challenged by Day and his latest collection.”

Get more details on the show here.


If you are a local artist/crafter/maker/indie business owner and would like to be featured on our blog, please fill out this form or contact Ashley at ashley@westandmainhomes.com with questions...we can't wait to learn all about you!

Actually, It’s Sometimes Better to Clean Slowly — Here are 4 Ways to Figure Out How

 
 

A quick speed clean of the kitchen counters and sink can result in that immediate gratification you love, but some areas of the house need more time and attention than that.

You might have noticed those are the places you’ve been avoiding the most. Maybe the garage looks like it’s going to be a week-long project, so you save it for next spring. Or the basement seems so daunting that you feel you’ll need Marie Kondo herself down there with you for hours, days, years. 

Identifying the areas of your home that need extra time and attention can help you actually make that time by changing your expectations about how long they will take. Pam Clyde, president and professional organizer at BritLin Cleaning says, “Cleaning can be more time consuming than we think, and some underestimate how much time is actually needed.” She shares that some obstacles to cleaning include procrastinating by thinking we “work better under pressure” — like right before guests arrive — and also not knowing the most efficient ways to clean our houses. 

Here’s how she recommends identifying those areas that need some extra time and TLC.

Set a timer.

If you can’t tell which rooms will take ten minutes, versus two hours, it’s time to find out. First, Clyde recommends some light tidying up before starting the actual cleaning process of “scrubbing dirt and grime away.” Then, she recommends timing yourself cleaning each room when you aren’t under pressure, to see how long it really takes.

“How long did one room actually take you? Did you get distracted or were you able to stay focused? Were you moving your arms and legs at a rapid pace or were you scrubbing in slow motion? Sometimes just being conscious of the speed at which we scrub can save us tons of time,” says Clyde, pointing out that having fast-paced music on and no phones around to distract you can help.

Distinguish between the initial deep clean and maintenance cleans.

If you can, Clyde recommends starting by having a professional deep-clean your home to give you a fresh starting place, and then either complete biweekly cleanings yourself or have the house cleaner return on this schedule. Whichever route you go, understand that an initial clean isn’t how long it will take the next time, especially if it’s been a while since the room has been truly cleaned.

“The first clean will take up to four times as long as a room that was just cleaned two weeks ago,” she says. “So give yourself some grace, take the time to deep clean each room, then make a plan to keep things in tip-top shape.”

Make a chart.

Chore charts aren’t just for kids. Clyde recommends one to help you decide the day of the week when you can set enough time to clean the whole house (adding up your room totals from step one above), or divide up which room or two you will do each day.

“There is no right or wrong way but whatever plan you choose, stick to it,” she says. The chart can also include assignments for kids such as who will do the dishwasher, wipe down the table, sweep crumbs, tidy the living room, and other jobs. 

Work top to bottom, and in sections.

For the rooms that you notice take longer to clean after your timing activity, ensure that you are following a top to bottom process, as dust settles towards the ground as you clean. Clyde recommends dividing up the room mentally in quadrants, or sections, and only cleaning what’s in your first section before moving on to the others. 

“Pick a section of the room to start with, like the first wall to the left of the door. As you move about the room, clean everything in front of you before moving to the next slice or wall in that room,” she says. “Don’t forget things in the middle of the room like a coffee table.”

Get more tips like this.

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Everything You Need to Know About Working from Home with a Pet

 
 

By year three of the pandemic, many people have probably figured out the basic rules of work-from-home etiquette. But what about when you add a new pet to the equation?

We spoke with experts about how to make working from home an enjoyable, productive experience for you and a new animal companion. Follow the tips below — and remember that it might take some time to fully figure things out. But, important reminder: When you work remotely, a doggie head scratch or kitten cuddle is only steps away on a stressful day, and that could make the whole balancing act more than worth it!

Set a Routine

Many pets, especially dogs, thrive on regularity and pay close attention to what their humans are doing. If your work-from-home routine is, well, nonexistent, your dog will likely pick up on that and figure he or she can just interrupt at any old time. 

“Routine helps your dog know when to relax, and what’s expected of them and when,” says Ali Smith, founder of Rebarkable. “If you know you have, say, a coffee break at 11 for yourself, make sure to bring your dog and enjoy that time together.”

For Indiana-based PR professional Natalie Bickel, creating a routine that worked for both her lifestyle and her 7-year-old beagle mix Otis was an important step at the beginning of the pandemic. “We made the mistake of feeding him lunch, and then he began to expect it,” Bickel remembers, noting that Otis would then often interrupt afternoon work time. So Bickel cut out lunch, and instead incorporated a walk into her morning routine to give Otis a little exercise before she sat down for work.

Durham, North Carolina-based software developer Marcus Southern also found that bringing along 6-year-old Border Collie mix Matilda on his daily walks to drop off his son at daycare helped to tire her out. “Having structure has helped the most,” Southern says.

Reinforce Positive Behaviors

This is another key to maintaining a balance between focusing on work and what your pet needs. And Smith has a tip for if you have a particularly anxious or needy pet: “Keep a jar of medium or low value treats, like a biscuit or even some of their regular kibble, on your desk,” suggests Smith. “Then, throughout the day, when they’re relaxed, give a little praise and drop or throw a treat! This reinforces to your dog that they’re doing something you like. The more they get that reinforcement? The more they’ll relax.”

Conversely, beware of encouraging behaviors that could cause distractions. Trainer Stephanie Zikmann gives the example of cuddling (sorry!). “Remember, if you let the cat or dog lie on your lap once, then they will think it’s acceptable to do that again,” Zikmann says. “Be consistent and never punish.” 

Establish Boundaries

Zikmann says that, if you’re able to, designating an office area that your pet can’t access could be useful. “This can be as effective as being at an office elsewhere if approached correctly,” says Zikmann. “For example, setting up an office in the front of the house and having the pet’s space to the back can give just enough distance to keep work and personal [space] separate during working hours.”

If you live in a smaller space and cannot always physically separate from your pet, Zikmann suggests providing them with multiple activities and distractions so that they can focus on their tasks while you focus on yours. This could include scratching posts, toys filled with treats, and even putting together what Zikmann calls an in-house “Sniffari” — a series of textures, scents, games, and rewards to sniff out and explore around the room.

Know Your Work Culture

Some companies are much more casual than others. It’s important to communicate early and clearly with your supervisors and colleagues to understand what’s expected of you at your specific job.

“Dogs are a common presence in Zoom calls for me,” says Rory Hadley, an HR and benefits manager from Seattle. “I think the answer to whether it’s acceptable largely depends on your job function and company culture. If you’re having a regular team meeting or chatting with a colleague, dogs [could] be a welcome addition to the conversation. If you’re having a sales call or working with a client, or are in HR and are having a difficult conversation with an employee, maybe pop the dog on the sofa with a chew toy for a bit.”

The same holds for mid-day breaks for non-work activities, such as feeding your cat or walking your dog. Hadley, who works in the tech industry and notes that his particular employer is fairly flexible when it comes to breaks, notes that the same might not hold true for other employers. “Some jobs or companies are inflexible in terms of breaks,” he says. “A customer care agent working their way through a queue of callers likely has very regimented breaks due to the demands of their function.”

Prepare Now So You Can Avoid Separation Anxiety Later

If you’re bringing home a new pet while working from home but might return to the office either part- or full-time at a later date, you may encounter some serious separation anxiety from your pet at that time. In order to try to steer clear of that in the future, make sure you give your pet alone time each day. For example, Zikmann says she incorporated time outside of the house with her family, sans pets, during the height of the pandemic in order to reinforce that alone time was acceptable.

Want to start this now with an already-anxious dog? Smith recommends building up to longer periods apart. “Start by popping your dog into their dog-proofed space with a long-lasting chew, or a Kong. Head to the door, walk outside calmly, and return,” Smith says.

Be Patient and Flexible with your Pet – and Yourself

Lastly, and perhaps most importantly, both Zikmann and Smith say that adjusting to working from home with pets isn’t an overnight process.

“Patience, time, and consistency — these three things will get you really far with any animal,” says Smith.

Read more like this on Apartment Therapy.

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Big cities saw population declines during pandemic

 
 

More than half of the country's 15 largest cities saw population decreases during the coronavirus pandemic, according to new U.S. census data released Thursday measuring city growth from July 2020 to July 2021.

 
 

Driving the news: The switch to remote work during the pandemic enabled many people to move, prompted desires for cheaper cost of living or lifestyle changes.

By the numbers: Although New York remains the nation's largest city, its population decreased by more than 305,000 people during the pandemic, about 3.5% of its population.

  • Los Angeles, the second largest city in the U.S., lost more than 40,000 people, roughly 1% of its population.

  • Chicago, the third largest city, shrunk by more than 45,000 people, about 1.6% of its 2020 population.

  • San Francisco experienced the highest percentage population loss, shrinking by 55,000 residents, 6.5% of its 2020 level, per AP.

  • Cities including Houston, Philadelphia and San Jose also saw losses.

Meanwhile, of the nine cities in the country with more than 1 million people, only two saw population increases: Phoenix and San Antonio. However, each registered only small gains, the data shows.

Between the lines: Chicago and San Francisco's populations have now dropped to close to their 2010 levels, the Wall Street Journal reported.

Keep reading on Axios.

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