4 Pros Predict the Future of Homes Post-Quarantine

From how we’ll decorate to where we’ll shop, Domino Magazine asked industry professionals what will change in and around homes in the future.

There is no crystal ball that will help us predict how surviving a pandemic will impact our lives a year or even six months from now. But one thing is certain—for the foreseeable future, we’re going to be spending time and living in our homes in a way that most of us never anticipated. That presents interesting challenges for the people who design, build, furnish, decorate, and help us buy and sell our houses. From bigger, ultra-functional kitchen pantries to FaceTime real-estate walk-throughs, some of our favorite experts weigh in on what comes next.

Our Dream Houses Will Look Different

The appetite for property has not been extinguished; people are stuck at home with nothing to do other than look at Instagram. It’s forcing them to hone in on what’s most important to them. In Los Angeles, that might mean more outdoor space for a vegetable garden or a view. Most people, everywhere, are thinking about a bigger kitchen. —Jenna Cooper, real-estate agent and owner of West Hollywood shop Coop

Virtual Shopping Trips Will Become the Norm

Vendors will get more creative with virtual shopping, scheduling FaceTime appointments and finding new ways to experience a store. If I can’t see a chair in person, I always ask someone to show me a photo of a person sitting in it, so I get a better sense of the size and scale. I have a lot of pictures of strangers sitting in chairs! —Frances Merrill, founder of Reath Design

Spaces Will Do Double, Triple, or Quadruple Duty

The notion of public and private in the home has shifted. My daughter’s wonderful teacher was holding a remote class from her bed, and I thought, Oh, no, she needs a place to do a Zoom call with her students that doesn’t feel so intimate. We need to rethink our notions of how space breaks down, regardless of the size of a house or an apartment. Maybe it’s just a corner of a room that can be designed as a place to work, with a blank wall behind you and an area that you can close off from the rest of the home. Bedrooms, especially for kids, are a place for rest, but they also need to have a work hub, so you can shut the door and practice the trumpet. You need to be able to multitask these rooms and multitask in them. —Eliza Howard, architect at THinc

Home Buying Will Go Digital

One prediction I will make is that online real estate will be even more important, and people who are marketing- and tech-savvy will weather this trying period better. I have sold houses with just a 3-D tour online, although it’s not the norm. You may feel desperate, and your business may be struggling, but you still have to make it look fun while you’re doing it. You have to project this idea of service, that “we’re here to take care of you” feeling. It will be a creative challenge for realtors, for sure. —Cooper

Buying Local Will Benefit Our Community and Our Wallets

More than ever, I’m asking my clients to be aware of who they’re supporting with their money—not every antiques store or small furniture-maker is going to survive this. We have to back the people doing work we believe in. And right now, international shipping is so expensive and unreliable; it’s slowed down a lot. I have some dealers in Europe who are holding onto a few things for my clients hoping that the shipping costs go down. That may mean people will buy more domestically in the future. —Merrill

We’ll Invest in Little Luxuries, Both High- and Low-Tech

Right now, the home is a sanctuary, a place where you feel protected, so I think people are looking for ways to elevate that experience. That could mean simply setting a table with candles and special dishes or surrounding yourself with beautiful things to change your environment. So many people are asking for media rooms; it might be the only way we watch sports or movies or performances of any kind for a while. People will find inventive ways to turn every corner of their home into a useful area. 

Even something as simple as a powder room will be reimagined—how do you make handwashing an enjoyable experience? I think we will see a lot of sensors and touch-free faucets everywhere. Kohler’s Sensate faucet turns on and off automatically; we installed it in a Manhattan Beach home’s kitchen. Another brand we love is Vola, a company from Copenhagen. The best part is its finishes: brilliant metals, but also all sorts of colors! This faucet is stunning and minimal, and would be great for a kids’ bathroom, too. Who says hands-free has to be dull? —David John Dick, cofounder of Disc Interiors

Design Will Get Even More Personal

My takeaway from this experience is that people will have a better sense of what they want from their space—what really makes them happy—and that will lead to more personal interior design that isn’t so trend driven. You have plenty of time to think about what really makes you comfortable, how the rooms in your house function, and what makes you feel good. It’s not about what people will see and think when they come over. —Merrill

Ready to look for a new place to quarantine?

6 Things to Remove From Your Bedroom for Better Sleep

We’ve all been there: Our subconscious mischievously waking us up in the middle of the night and taunting us with unresolved arguments, looming to-do lists, and general feelings of anxiety.

It turns out, it’s not necessarily just the result of a bad day—our environment can have a lot to do with it. 

“The ideal bedroom at night has the energy of a womb,” explains feng shui expert Rodika Tchi.  “It should be nourishing, powerful, quiet, healing, protective.”

Correct us if we’re wrong, but wombs never had TVs, phones, piles of clothes, or exercise bikes—so maybe our sleeping quarters shouldn’t either. “It should be an oasis with minimal electronic pollution, soothing symbolism, neutral colors, warm textures, and maximum comfort—and it should be as dark as possible when you’re sleeping,” adds Laura Benko, author of The Holistic Home and founder of The Holistic Home Co.

To stop the incessant chatter that always seems to occur in our brains between the hours of 3 and 5 a.m., we asked the pros to explain the things that can block the energy flow in our bedrooms—and what to replace them with.

Anything Productivity-Related

Different rooms require different types of energy. For instance, the office necessitates focus, but the bedroom is quite the opposite and should fuel relaxation and healing. Anything that goes against that shouldn’t be in your space in the first place.

“Do you have a to-do list next to your bed? Exercise equipment in your bedroom? A phone charging? These are all reminders of actions that will keep your mind running, even if you are exhausted,” explains Benko. By removing these energy drains, you’re creating the ideal environment for a restorative night’s sleep. Instead, focus on soft fabrics and warm lighting to help you wind down.

Solo Objects

If you often feel lonely or sad, it’s time you figure out what could be causing these feelings in your space: “A chair in the corner, a singular vase or artwork with one image; these are all bombarding your subconscious with the same message,” says Benko. She suggests pairing up objects like lamps and paintings and paying attention to surrounding yourself with items that truly uplift your spirits à la Marie Kondo.

Tchi recommends carving out a spot where you can express your creativity and self-love to relieve sadness and loneliness: “Having a space for regular meditation also helps release these feelings without either grasping onto them, repressing them, or denying them.”

Disturbing Sounds or Smells

Do you fall asleep to squealing brakes and sporadic honking or whiffs from your dinner a few hours earlier? Rethink your entire sensory experience. Air quality is important to ensure your sleep goes undisrupted, and Tchi swears by essential oils and soothing music to create the right energy that will help you recharge.

Under-Bed Storage

We think of organization as an inherently good thing, but one type can actually be disruptive—storage under the bed, which can lower the energy of those sleeping on top of it. “You don’t need as much stuff as you think you do,” says Benko, who proposes paring down, donating, or tossing useless items until the area is empty. “Think of clutter as an energetic anchor that is bringing you down, lessening your vitality, and stagnating any fresh opportunities from coming your way.”

Plants

Many experts tout plants’ air-purifying properties, which are great for a good night’s sleep, but some feng shui pros warn against having too many of them. Plants are part of what in feng shui is called the “wood element,” which is known to have expansive energy and can disturb people who have trouble sleeping. On the other hand, says Tchi, crystals and candles bring the fire and earth elements, which are believed to ignite passion, success, and stability, all important for well-being.

Too Many Scaled-Down Pieces

In cramped bedrooms, we tend to fill our spaces with equally tiny furniture and tchotchkes, but Tchi warns that this can stifle your creative side. “One of the mistakes people often make is to settle for small items, while the opposite can actually bring much more life,” she says. Instead, she recommends big-scale pieces and large art to expand your perspective.

As for the large items, their position is equally important: When arranging your bedroom, Benko recommends placing the bed so that you can see the entrance without being in direct alignment with it. Your back should be up against a wall, but not directly under a window. This is what energy flow specialists call the commanding position, where you have control. “In general, the less furniture the better, the less items the better,” says Tchi. “You want fresh and nourishing sensual energy in the bedroom.” All that’s left to do is drift into the best slumber of your life.

Sweet Dreams!

If you are wondering how current national and global situations might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Homebuyers and sellers are ready to return to open houses

Despite open houses pausing over the spread of COVID-19, a new survey from the National Association of Realtors said that 65% of people who attended an open house within the last year would do so now without hesitation, while another 15% said they would feel comfortable resuming this activity if there was an approved COVID-19 vaccine and/or proven medical protocol to mitigate and remedy the effects of the virus.

“The real estate industry – and our country – has endured some very challenging times for several months, but we’re seeing signs of progress and we are earnestly hoping the worst is behind us,” said NAR President Vince Malta.

Also in the survey, 47% of buyers and 53% of sellers said that during the current pandemic, relying on a real estate professional when searching for or selling a home is much more important than before. In addition, 54% of buyers and 62% of sellers said that a real estate agent’s guidance is especially valued right now. Hand-in-hand with that, 59% of buyers and 58% of sellers said that buying and selling real estate is an essential service.

“While we celebrate homeownership month, we embrace today’s version of homeownership and the unique paths homeowners take to realize their dream,” Malta continued. “For prospective buyers, the desire to own a home remains strong and the guidance, expertise and professionalism Realtors provide is more important now than ever.”

Despite the rise of iBuyers and virtual real estate practices, 51% of buyers said an agent is valuable when it comes to gleaning information from online listings rather than uncovering it on their own, and 56% said they believe that an agent can save them time and stress of weeding through listings.

The survey also showed growing comfort with the digitization of the home purchase process. According to the survey, 67% of sellers and 70% of buyers said they are very comfortable with conducting business on a computer, such as reviewing and signing documents electronically.

“Thanks to the internet,” 41% said they could envision themselves buying a house without ever physically stepping foot inside, and 53% of sellers could envision themselves selling to prospective buyers the same way.

If you are wondering how the pandemic might be impacting your property’s value, your neighborhood, or the Real Estate market in general, we are happy to provide more specific information.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Renters say they are less likely to renew lease after pandemic

Closed fitness centers, clubhouses, pools and offices contributed to renters looking to buy or move.

Homeowners isolated because of the coronavirus pandemic are seeking more space away from the city, and renters are feeling the same way.

And despite stimulus checks, the paycheck protection program and other government resources, nearly 61% of households in the U.S. remain vulnerable, according to housing market research from Amherst.

Only 34.1% of renters said their management company had offered a payment plan for May’s rent, while a whopping 65.5% said they are unaware of any local, state or federal programs to help with rental assistance, a survey from SatisFacts said.

Based on current experience in their dwelling, 26.1% of renters surveyed with leases expiring in the next six months said they are likely to renew their lease, 35.9% are likely not to renew and 38% are somewhat likely or not sure at the moment.

On top of that, renters who pay more than $1,750 a month are the least likely to renew, the study found.

Just 18.7% of those renters say they are very likely to renew, while 41.6% said they are not likely to renew.During the month of April, 38.2% of residents experienced at least a 50% decrease in income. Of those renters, 16.7% said the decrease was by 100%.

Those aged 18 to 24 had the highest likelihood of a 100% cut in income, at 24%. Meanwhile, those aged 65 and older were least likely to experience a change in income, at 68.8%.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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There’s A Boom In Homebuying As Unemployment Soars - But It’s Not an Even Playing Field

Forty-two million people have filed for unemployment. But last week applications for mortgages on new homes were up 17.5% compared to a year ago.

Written by Venessa Wong for BuzzFeed News

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It’s a hard concept to reconcile as millions of people file for unemployment every week and protests and riots have erupted around the country after the death of George Floyd, but people are still buying houses during the worst economic crisis since the Great Depression — lots of houses, and more expensive than before.

Mortgage applications are up significantly over the same period last year, as is the average loan size, according to data from the Mortgage Bankers Association. The incongruously fast rebound of the housing market amid broad economic turmoil suggests that while home purchases are typically seen as an indicator of economic health, the numbers are becoming a more narrow bellwether for the state of America’s professional class.

“These are households that did not have the same kind of employment or income interruption as a lot of the population,” said Joel Kan, the MBA’s Associate Vice President of Economic and Industry Forecasting. “These folks are able to work remotely, who are still getting paid.”

Mortgage applications for a home purchase rose 17.5% in the week ending May 29 compared to the same week a year ago. The average loan size on these applications rose by 3.9% to $342,900. It’s not merely a blip — applications were up 8.7% in the previous week.

The boost is largely a result of tight housing supply and pent-up demand from buyers who held off on purchasing a home in April when real estate activity fell off a cliff and are eager to take advantage of record-low interest rates, housing analysts told BuzzFeed News. The average rate for a 30-year fixed mortgage is now about 3.45%, and the market now contains many first-time buyers, including millennials, said Selma Hepp, the deputy chief economist at CoreLogic.

Those who had less stable employment and lower wages before the pandemic, meanwhile, seem further away from homeownership than ever. Unemployment figures from the Bureau of Labor Statistics showed that joblessness for women, people of color, and less-educated workers was higher than the overall 14.7% unemployment rate in April.

“The people who lost their jobs, on an income spectrum, they were not likely to be potential homebuyers because service workers generally have lower wages and are more likely to be renters,” said Hepp.

And it’s not just that a growing share of the country cannot take advantage of today’s low mortgage rates and an expected dip in home prices in the coming year. Existing homeowners, who’ve benefited from a decade of booming home prices, are huge beneficiaries of today’s lower interest rates, which allow them to refinance mortgages for even lower monthly payments. Mortgage refinance applications last week were up 137% from a year ago, according to the MBA.

This same divergence in fortunes was prevalent after the Great Recession: Banks made loans much harder to get and the wealth gap widened, even as home prices slumped and the government pumped money into the system to keep banks lending.

Expect a similar split in the wake of the current crisis. Homeownership rates for most racial groups held steady or increased over the last decade, but the rate dropped for blacks, especially young adults, according to the nonprofit Population Reference Bureau. “With higher incomes, white families are able to purchase homes an average of eight years earlier compared with black families, generating more equity and potential for growth in assets,” according to a PRB report.

“The ultimate rub in situations like these is those who are impacted the most can’t take advantage of an incredible boom in affordability,” said Skylar Olsen, senior principal economist at Zillow. “They can’t buy during a crisis and they can’t ride the improvement out the other side.”

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