Heating Mistakes You May Be Making in Your Home

 
 

When winter arrives, people all over the country reach for their thermostats to turn on the heat.

Your furnace will keep your home warm and comfortable all year long, and makes surviving those cold winter days a little bit easier.

However, there is a chance you are making some mistakes when it comes to heating your home this winter. These mistakes may not only be costing you money, but could be decreasing the lifespan of your heating system as a whole.

With that in mind, this article is going to go over some common heating mistakes you need to watch out for in your home.

Not Maintaining Your Furnace
One common mistake many homeowners make is not maintaining their furnace properly. If you simply ignore your furnace and expect it to continue to work year after year, you will often be in for a rude awakening eventually.

Instead, consider bringing out an individual or company who specializes in furnace repair to come out to inspect and maintain the system. They will test and go through everything to make sure it is working as expected, and there are no issues developing. This comes with a cost, but is worth it for the peace of mind. Also, repairing a neglected furnace will cost a considerable amount more than getting it checked out every now and then.

In addition to having a professional come out and perform an annual check, there are some things you can do to keep it in good shape. This includes cleaning or changing out the filter, and making sure that the area around your furnace is kept clean and clear.

Blocking Your Vents
This is a common mistake that many people don’t even know that they’re making. If you block the vents and registers in your home, you aren’t allowing the heat to flow into the room, thus preventing it from warming up.

You could do this by having furniture over vents, blocking vents with piles or clothing, or having boxes or other debris inhibiting these registers. Blocking your vents is bad for a couple of different reasons.

First of all, it will stop your home from heating up and certain rooms will be colder than others if vents are blocked. This will also force the furnace to work harder and longer, which can send your bills skyrocketing and hurt the longevity of your furnace. As a result, make sure that all vents and registers in your home are clear from any debris, and able to fully disperse heat throughout your home.

Not Air Sealing Your Home
If your aim is to keep your home warm all winter, there is no doubting the importance of air sealing your home. If you have air gaps, leaks and drafts, it will let a lot of the cool outdoor air into your home. This will increase your heating bills and lead to the home being colder in some parts than others. Not only that, but some of the hot air that your furnace creates will escape through these same gaps.

Before winter hits, go through your home and see if you can identify any drafty areas or air leaks. These are generally around doors or windows, but can be anywhere. Once you have located these gaps, simply fill them to ensure there is a barrier between the interior and exterior air.

Get more tips like this on Housing Wire.

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5 Glamorous Bathroom Trends Making a Splash Right Now

 
 

More than any other room in the home, the bathroom is a place where homeowners can let their design imagination run wild.

It’s a space to try out new trends, experiment with bold colors, and embrace unique architectural details. Guests appreciate a powder room adorned in a fashion-forward wallpaper or a statement tile. And there’s nothing like stepping into a main bathroom, day in and day out, that celebrates your unique design point of view.

For this week’s trending Instagram decor, we decided to lean into the bold and the beautiful. Below, you’ll find five glamorous bathroom designs that are equal parts popular and refreshing.

1. All-blue bathroom

One simple way to bring a sophisticated design perspective to your bathroom is to pick a singular color and let it shine. The bathroom above from @elizabethhaydesign does a great job of illustrating this technique.

“Opt for vibrant tones in the bathroom such as blue, emerald, and rich purple to establish a striking, elegant atmosphere,” says Diana Viera, managing partner of Miami-based design firm Italkraft. “Balance darker shades with neutral colors like cream and beige, and accessorize with metallic decor accents for brightness.”

Get the look: Give your bathroom a strikingly elegant overhaul by repainting it in Benjamin Moore’s Marlboro Blue.

2. Arched shower door

We’re in love with the impact that these arches make in this bathroom posted by @houseliftdesign.

“We are seeing a trend toward the classic arched shower and tub alcoves right now, because people are craving more character and design that’s reminiscent of the past,” says designer Jennifer Davis, of Davis Interiors. “Arches create visual interest and offer a softness to the typical hard edges in the bathroom.”

Get the look: If you’re handy and ready to take on a bathroom renovation, check out this DIY plywood arch.

3. Patterned wallpaper

Printed wallpaper was all the rage in 2022, and this bold pattern seen in a post by @maddiegdesigns creates an unexpectedly elegant vibe in this glam powder room.

“Make a statement with eye-catching wallpaper in high-contrast hues,” says Viera.

Get the look: Make an eye-catching statement in your powder room with this geometric wallpaper.

4. Fixed-panel tub door

Any bathroom design feature that’s functional and aesthetically beautiful is an A-plus in our book. That’s why we’re giving a big thumbs-up to this chic fixed-panel tub door from @makemyhomepretty.

“The fixed-panel door on the tub is a much crisper and cleaner look than sliding doors with tracks that get dirty,” says Davis. “They are also quite popular right now because they make the room feel larger as opposed to a shower curtain or bulky doors on a track, which close off that additional square footage.”

Get the look: Make your tub more efficient and design-friendly with this fixed-panel tub door.

5. Leafy greens

f geometric patterns aren’t your style but you still want to experiment with bold wallpaper in the bathroom, go for something natural. It’s easy to fall in love with a leafy green wallpaper like the one seen in this bathroom posted by @_havensent_.

“Patterns that feature elements of nature create a connection between the indoors and outdoors,” says Viera. “Hop on this trend by incorporating these motifs into your decor with patterned wallpaper in the bathroom.”

See all the trends.

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The housing market downturn is different this time

 
 

Low delinquency rates and healthy household net worth point to faster recovery: Stratmor

Many lenders are not getting a sense of déjà vu with the current mortgage industry downturn, according to mortgage advisory firm Stratmor Group.

“This one feels different,” a recent Stratmor report states, citing executives in the mortgage industry. 

This time around, the fast mortgage rate increase, the large origination volume decrease and margin compression could cause an “unprecedented amount of excess capacity, and many lenders will need to sell or simply won’t survive,” Jim Cameron, Stratmor’s senior partner of Stratmor, said. 

Of the top five monthly mortgage rate increases to occur since 1984, three took place during the first 10 months of 2022 — one in September (89 bps), April (81 bps) and October (79 bps). 

Meanwhile, forecast volume for 2022 is expected to drop by $2.18 trillion — the largest dollar volume drop in history. At 49%, this year’s forecasted decline would be the largest percentage decline in year over year volume since 1990, according to the Mortgage Bankers Association

In addition, more lenders are chasing fewer loans, and the speed and severity of this downturn has created revenue and margin compression on “steroids,” the report states. With 35-plus years of mortgage rates on a declining trend, rates bottomed out in 2020, limiting “the possibility of a major refinance boom bailing out the industry.” 

While 2021 was a record year for production volume at $4.4 trillion, the largest decrease in revenue occurred in 2021 in both retail, which dropped 68.8 bps, and wholesale, which declined 137 bps, followed by the first half of 2022, according to the MBA and Stratmor Peer Group Roundtables (PGR) program. 

That’s not to say there is no hope. Demographics, low delinquencies and healthier-than-normal household net worth are some of the factors that Stratmor believes will lead the downturn to be shorter than usual.

A large cohort of 28- to 38-year-olds in prime homebuying age will drive purchase business in the next three to five years, Cameron said, and historically low delinquency rates will mean more borrowers will be eligible for new purchase or refinance loans. 

Household net worth has also been on a rising trend since 2009. In addition, household financial obligation ratio, which is at 14.27, and debt service ratio, which is at 9.58, are much lower than historical averages, and are lower than when the U.S. economy entered the Great Recession of 2007 and 2008. 

“This is good news for lenders — as we emerge from this mortgage market downturn, borrowers and prospective borrowers will be in a better position to qualify for mortgages and to make their payments once they close their loans. While the recession risk looms large, at least households are in much better shape with respect to net worth, delinquencies and the ability to meet financial obligations,” the report notes. 

Non-bank lenders, particularly independent mortgage bankers (IMBs), are more likely to react quickly to shed staff during a downturn as compared with banks, the report adds. 

Warehouse lenders require non-banks to maintain compliance with profitability, capital and liquidity covenants. Non-banks also typically don’t have lines of business other than loan servicing to subsidize mortgage, which means that cutting costs and shedding capacity is a matter of survival — especially for those without a servicing portfolio. 

Since non-banks accounted for 63% of the entire market in 2021, up from 24% in 2010, and are “more likely to consolidate, this would argue for a shorter duration downturn,” the report states. 

“This may be the most painful downturn in mortgage banking history in terms of the severity of the downturn and the speed with which it occurred,” Cameron said.

But some bright spots in demographics, low delinquencies and healthier than normal household net worth “may help hasten us toward the day when we can return to “normal” with revenue rationalizing, capacity adjusted and a return to profits that are reasonable based on the risks of the business,” Cameron said.

Read more here.

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Christmas Tree Lots Are Up and Running in Carteret County!

 
 

Those seeking the perfect Christmas tree should shop early and be ready to pay a little more, according to county nonprofits selling Fraser firs this year.

“We’ve had to increase $5 to $7 per tree because of the cost of fuel and freight for transportation,” Christine Lamb, president of the Beaufort Ole Towne Rotary Club, said. 

The 325 trees arrived Nov. 22 at the club’s lot in front of Ace Hardware in Beaufort, and by Nov. 23, residents were lining up to purchase trees. Lamb said she expects them to sell out quickly.

The trees range in size from 4- to 12-foot, with costs varying from $40 for the smallest to $200 for the largest. The club is also selling natural wreaths of various sizes, ranging in price from $25 to $70, depending on size.

Mary Miller with Hannah’s Hope Christmas Trees at The Market in Cedar Point, too, said she anticipates the 160 trees they received Nov. 22 to sell out quickly.

“The last three years there’s been a shortage of trees because growers are still trying to get their fields back up and running and allow their trees to mature,” she said.

Miller added that The Market has tried to keep the cost as close to last year as possible, although the cost of freight went up.

Hannah’s Hope trees range from $60 to $100, depending on size and fullness. Trees range in height from 6 to 8 feet. The group is also selling natural wreaths, ranging from $35 to $45.

Dr. Jeffrey Owen, forestry extension specialist with N.C. State University who specializes in Christmas trees, said during a telephone interview Nov. 16 that those shopping for trees will find a great selection, but he too recommended shopping early and being prepared to dig a little deeper into their pocketbooks.

“It’s been a good growing season this year, and there’s a pretty crop of trees, but it will be a tight market,” he said. “A lot of our growers are sold out of the trees they will cut for this year. A lot of growers have slowed down to give their trees time to mature.”

He added that consumers should be ready to pay more due to inflation.

As for the trees being sold at the Beaufort Ole Towne Rotary lot, Lamb said proceeds from the sale go to help many nonprofits and programs the club supports locally. Some of those include Crystal Coast Habitat for Humanity, Loaves and Fishes in Beaufort, Broad Street Clinic, Meals on Wheels in Beaufort and the Boys and Girls Club. 

Miller said 5% of the proceeds from the sale of trees at The Market goes to Hannah’s Hope to help children with the cost of participating in extracurricular activities. 

Debbie Hoell of Beaufort was among those buying a tree Wednesday at the Beaufort Ole Towne Rotary lot.

“Keep it watered and keep it away from direct sun and heat sources,” he said. “Make sure you get a fresh cut when you buy the tree.”

Another plus to a well-watered tree is it’s less likely to be a fire hazard in the event of an accident. Trees should not be placed near fireplaces, heaters, furnace vents or television sets.

Light cords and connections used on the tree or in other holiday decorations must be in good working order to ensure a safe and joyous holiday season. Lights should always be unplugged when leaving home or going to bed.

While Fraser firs are the most popular Christmas trees, other species to consider are Douglas firs, white pine, spruce, Virginia pine, cypress varieties and red cedars.

North Carolina is the nation’s second-largest producer of real Christmas trees, according to the N.C. Christmas Tree Association. Fraser Fir trees represent 94 percent of all species grown in North Carolina and over 26% of all Christmas trees grown in the US.

Learn more.

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How does living near a grocery store affect home values?

 
 

Just as homebuyers might consider the school system and local amenities in a town they’re thinking about moving to, it might be time to add add ‘proximity to the nearest grocery store’ as something that can increase their home’s value over time, a new report indicates.

ATTOM’s latest 2022 Grocery Store Wars Analysis shows grocery stores might increase a home’s value based on home-price appreciation and home equity, or also as an investor looking for the best home-flipping returns and home-seller ROI.

The study looked at current average home values, 5-year home price appreciation for YTD 2022 vs. YTD 2017, current average home equity, home seller profits, and home flipping rates in U.S. zip codes with at least one Whole Foods store, one Trader Joe’s store and one ALDI store.

Key highlights:

  • Trader Joe’s wins out when it comes to average home value for nearby homes, with $987,923. Whole Foods follows up with $891,416, and then ALDI with $321,116.

  • Not only does Trader Joe’s lead the pack for home values, but it also takes the lead in home equity with homeowners earning an average of 50% ($520,842) equity, compared to Whole Foods at 45% ($433,311) and ALDI at 38% ($132,643).

  • ALDI won at 5-year home price appreciation with 58%, while Trader Joe’s saw 49% and Whole Foods saw 45%.

  • Properties near an ALDI are ripe for investors, with an average gross flipping ROI of 54%, compared to Whole Foods with 28% and Trader Joe’s with 25%.

  • ALDI again wins at average home seller ROI with 61%, while Trader Joe’s sits at 58%, and 51% for Whole Foods.

Major takeaway:

“Smart homebuyers might want to consider where they’ll do their grocery shopping when they’re shopping for a new home.” said Rick Sharga, executive vice president of market intelligence at ATTOM. “It turns out that being located near grocery stores isn’t only a matter of convenience for homeowners but can have a significant impact on equity and home values as well. And that impact can vary pretty widely depending on which grocery store is in the neighborhood.”

Get the full report on RISMedia.

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