Preparing Your Home for a Freeze

 
 

As we prep for a cold front to sweep through, here are some things you can do to ensure your home is prepared for the freeze. Stay warm out there!

Open cabinet doors

If you have pipes along an outside wall for a bathroom or kitchen sink, keep the cupboard or vanity doors open to allow the warm air to circulate to the pipes.

Check your spigots + disconnect your hose

This is one of the simplest steps you can take to protect your home during a freeze. Disconnect any garden hoses. If you have a shut-off valve inside your home, turn off the water here and leave the spigot open. If not, simply turn off the water. Cover the spigot with an insulated faucet cover.

Leave faucets running at a trickle

Leave faucets running very slowly, three to four drips per minute, so water continues to move through the lines. It is much more difficult for moving water to freeze.

Locate water shut off valve + know how to use it

In the case that you need to shut off your water quickly, it’s imperative that you know how to do so.

Open doors/vents to your attic + basement

Keeping these spaces warm will help ensure that your pipes don’t freeze.

Change your Furnace filter

You want to be sure the system is running well and does not shut down from a clogged filter.

Turn up your thermostat

Make sure you leave the heat on at all times during a cold snap, even if you’re not at home during the day. Make sure the thermostat is set to at least 60 degrees throughout the cold snap.

Caulk windows and doors or block the breeze

If you don’t have a chance to caulk around your windows and doors this fall, and don't have weather stripping on hand, an ordinary towel can be a big help. Place a rolled-up towel on any windowsill or at the bottom of your doors to block any drafts. It can make a huge difference, not just in your comfort but also in your heating bill.

Check carbon monoxide detectors

Make sure your carbon monoxide detectors are in good working order. This is a good idea anyway but it’s particularly important if you are using a fireplace or wood-burning stove, or if you didn’t have a chance to have your heating system inspected this fall.

Keep reading for more tips + tricks.

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Owners propose redevelopment of Oceanana Pier property

 
 

Developers have proposed big changes for the landmark Oceanana fishing pier and motel property.

The Atlantic Beach Town Council and Planning Board received a major site plan submission Tuesday at a joint meeting in the town hall boardroom on the proposed redevelopment. The owners of the Oceanana Motel, Pier House and manufactured home park at 700 East Fort Macon Road are hoping to redevelop the property by removing most of the existing structures and building 17 townhouses, 127 condominium units, a new pier house and a swimming pool.

The existing ocean fishing pier, the last one in Atlantic Beach, will remain.

Mayor Trace Cooper is one of the owners of this property and abstained from attending the meeting Tuesday. He said Thursday he and the other owners of the property have been considering redevelopment for about 15 years.

“The current Oceanana consists of a motel, a mobile home park and the pier house,” he said. “All of these structures have been sitting on the oceanfront for about 60 years and are no longer in good shape…We think it’s time to seriously consider investing in new buildings instead of putting expensive Band-aids on the old buildings.”

Town Planning and Zoning Director Michelle Eitner presented the board and council with the proposed major site plan Tuesday and said it was the first time the board or the council had seen it.

“They’ll do some upkeep and maintenance to the pier, but that’s the only thing that will stay (from the existing structures),” she said.

Mayor Cooper said developers wanted to include a hotel as part of the project, but they don’t think it’s viable due to construction costs, the hotel market’s seasonal nature and the current lending environment.

“We’re still hoping to include a hotel and may add it back in the future,” he said.

The mayor said the new Oceanana will have the same family focus, regardless of redevelopment, and the pier house and pier will remain open to the general public.  

“When my grandfather opened the Oceanana in 1959, he marked it as the ‘family playground of the south,’” Mayor Cooper said. “We plan to maintain that vision, but with modern facilities that are more in keeping with what families expect today.”

Even if the site plan is approved, work won’t begin for some time yet. Mayor Cooper said they’re at least a year from starting any construction, which will likely take place in phases.

The boards opened the public comment period on the major site plan Tuesday, and due to electronic meeting requirements, the comment period was recessed for an additional 24 hours to allow written comments to be submitted. Town Manager David Walker told the News-Times Wednesday afternoon town officials had received “a couple emails.”

“We’ll hold off taking action until the (council) work session on (Thursday) Dec. 10,” Mr. Walker said. The work session is scheduled for 2 p.m. that day in the town hall boardroom.

Both the council and planning board expressed support for the proposal. However, Councilman Austin Waters said he’s an adjacent landowner near the Oceanana property and both he and another adjacent property owner are concerned about the proposed location of the project’s package treatment plant. The plant is proposed for the northwestern corner of the property, directly on East Fort Macon Road.

“It’s not a desirable thing to have a treatment plant next to residential (property),” Mr. Waters said. “This is a great-looking project, I’d just like something to be considered for that waste treatment plant. It’s just me and this one (other) guy that will be affected; the whole neighborhood will be affected.”

Mr. Waters said he thinks locating the plant on the eastern side of the property, where it won’t be next to residential property, would be preferable.

Atlantic Beach resident Molly Brown also spoke during the public hearing. Ms. Brown, who also lives just west of the Oceanana property, said Tuesday afternoon was the first she’d heard about the proposed project.

“It concerns me this waste treatment plant will be next to the house my husband and I just bought,” Ms. Brown said.

Atlantic Beach resident Susan Hatchell spoke favorably about the initiative. She said she was “really thrilled the pier will be retained,” however she also voiced concern the project might be “cramped” and “over-developed.”

“I think if you scaled it back, that would be good,” Ms. Hatchell said.

Atlantic Beach residents Arun and Patti Dewasthali said in an email Wednesday to town officials they too are concerned about the treatment plant’s proposed location. They also voiced concerns about stormwater runoff coming from the property, potential noise levels, parking lights shining in their windows and the potential for driving accidents that might hit their home on Dobbs Street.

Ms. Eitner said the Oceanana owners held an online neighborhood meeting via Zoom the weekend of Nov. 28-29 to discuss the proposed project. She said in addition to the concerns about the treatment plant location, others voiced concerns about potential light pollution.

Ms. Eitner said some concerns were voiced by mobile home park unit owners that they were “caught off guard” by this announcement. However, she said the developers have confirmed the re-development project is “in their lease that it’s going to happen.”

“I believe this developer has taken the steps to make sure this isn’t blindsiding people,” Ms. Eitner said.

Mayor Cooper said he thinks the proposed project was “well received” during the Zoom meeting.

“I think most neighbors are eager to see the old buildings and mobile homes replaced with new structures,” he said. The mayor also said mobile home park residents were first notified about the potential for redevelopment “over 10 years ago.”

“We sent out a letter a couple years ago,” Mayor Cooper said, “letting them know that we were starting to plan the redevelopment. Our leases contain a provision stating that redevelopment is possible and describing what happens when we decide to redevelop.”

The mayor said he does believe the mobile home park residents are disappointed the time may be finally coming.

“We have a great community there and are sorry that we may lose some of our residents as neighbors,” Mayor Cooper said. “But we’re working on a plan – likely some sort of discount – to encourage our current residents to become owners in the new Oceanana.

Read the full story here.

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Inflation slows to 7.1% in November, a boost for the housing market

 
 

Core CPI, excluding volatile food and energy prices, rose 6% on an annual basis

Inflation slowed more rapidly than expected in November, increasing the likelihood of the Federal Reserve slowing down the pace of interest rate hikes. It is very good news for the housing market, which has suffered greatly from the affects of rate hikes over the last nine months.

The Consumer Price Index rose 0.1% in November from October and 7.1% year over year, according to the Bureau of Labor Statistics. The CPI rose by 7.7% from 12 months ago in October and economists expected price growth in November to post 0.3% month over month and 7.3% on an annual basis. 

While food prices jumped 12% and energy costs rose 13.1% from the same period last year, central bankers don’t typically watch those numbers closely as they are volatile and don’t reflect the underlying strength of the economy.

Excluding food and energy prices, the so-called core CPI rose 0.2% from the previous month and 6% year-over-year.

Used cars and truck price growth were down 3.3% from a year ago, suggesting that supply-chain issues may be easing. Services inflation, which tends to move in correlation with rising wages, still remains strong, partly due to rapid increases in rent, which rose 7.9% year-over-year.

“The shelter component of CPI continues to be a key driver of overall inflation as lower home prices and moderating rent growth is not yet being fully reflected in the data and most likely won’t become a tailwind until early in 2023,” Al Otero, portfolio manager at Armada ETF Advisors

While it’s too early to call for a Fed “pivot” with annual inflation still at a very high 7.1%, markets are forward-looking and will begin to price in an ebbing of the rate cycle before it actually occurs, Otero added. 

The central bank raised interest rates at the fastest pace in decades in 2022, moving them to an expected range of 4.25% to 4.5% from near-zero earlier this year. While the Fed hiked interest rates by 75 basis points for four consecutive times, the central bank – which will announce its next action on Wednesday – could slow down the pace of the interest rate hike given that the CPI came in lower than anticipated. 

The Fed should pause its rate hikes but they will raise them by 50 bps in December, Logan Mohtashami, lead analyst at HousingWire said.

“The Federal Reserve has made sure to let the market know how many rate hikes are left and the speed,” Mohtashami said. “With today’s CPI data, that will seal the deal of 0.50% rate hike as the Fed has told the markets that the pace of rate hikes will slow.”

Overall inflation has been declining on a year-over-year basis after hitting a peak of 9.1% in June, suggesting that price growth has been slowing since the Fed’s fight to tame inflation – and beat back the housing market – in March. 

Defying aggressive action from the Fed is the strong labor market. Employers added 263,000 jobs in November with the unemployment rate holding steady at 3.7%, according to the BLS.

Mortgage rates have been on a declining trend after hitting its recent peak about a month ago at 7.16%. On Monday, the 30-year fixed mortgage rate was 6.44% on Monday, according to the HousingWire Mortgage Rates Center.

“The spread between mortgage rates and the 10-year Treasury yield narrowed by 13 basis points during the month to 283 basis points in a sign that investors and lenders may be seeking to accelerate the impact of falling rates,” Scott Happ, president of Optimal Blue, a division of Black Knight, said. 

However, lower rates haven’t been enough to spur the housing market, which also suffers from the contradiction of falling demand and low inventory, as well as falling prices that haven’t fallen enough to get buyers out of bed

Rate lock dollar volume declined 21.5% in November from the previous month, the lowest level since February 2019, Black Knight’s data showed. Overall lock volumes are now down 39% over the past three months and down by 68% compared to last year’s level.

“Stalled inventory and rates nearly twice what they were a year ago are combining to negate the benefits of recent home price and rate declines from an affordability perspective,” Happ added.

Keep reading on Housing Wire.

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These Are the 7 Things Designers Say Clutter a Small Space Living Room the Most

 
 

Today’s living rooms serve quite a lot of purposes. They may function as lounge spaces, makeshift dining areas, and even home offices.

While the days of the super-formal living rooms may be in the past, it’s still important to treat this essential space within your home with some care — and that means cutting any unnecessary clutter — that is, at least, if you ask interior designers. Wondering exactly what should go? Here, nine pros weighed in on the living room items that they just don’t think are necessary and you can feel confident ditching in 2023. Hello, more streamlined space!

Part with that bulky recliner

Sure, your living room should include plenty of seating to accommodate family members and guests, but pieces that are just plain bulky can go. “Recliners take up much more space than they offer for seating,” notes designer Charmaine Wynter. “By that I mean recliners typically only seat one person; however, a recliner requires square footage for clearance behind and in front of the actual chair. They [also] often have high backs — blocking the view to anything in its path line.” In smaller spaces, it’s often best to consider pieces that deliver a little more seating for the square footage they take up, such as small swivel accent chairs, convertible chairs, or even a fabric ottoman or wire metal chair like what you see above.

Corral those cords

If your living room is full of lamps and electronics, cord clutter could be wreaking havoc on the look and feel of your space. “The cords are just messy and can be hidden by either coming up with a good A/V or electrical plan and or by installing some floor outlets,” shares designer Elana Mendelson of Elana Designs. Designer Beth Martin, who runs an eponymous interiors firm, agrees.”Chargers, cords, extra remotes, and outdated technology often find their way into living rooms, but ditch these immediately,” says Martin. “Cables add to the visual mess of your space, and chances are you don’t need that third remote.”

Part with furniture you’re not using

If your living room features a piece that you don’t use — or just don’t love — it may be time to say goodbye for good. “Most people don’t realize it, but our eyes crave the appropriate amounts of negative space,” says designer Arianne Bellizaire. “This means that rooms jam packed with furniture might feel overwhelming.” The good news? Donating or selling a few chairs or a side table can make all the difference. For best results, “assess your room layout to try to identify pieces of furniture that get little-to-no use,” Bellizaire suggests. “Remove them, and reposition the remaining pieces so that they have some breathing room. You’ll be surprised and how fresh and orderly your space starts to feel!”

Stop displaying excess picture frames

Designer Amal Kapen is a proponent of cutting back on — and streamlining — one’s collection of picture frames. “Coordinated accessories go a long way to cut the clutter and create a harmonious space,” she says. “Consider pairing down your photo on display and rotating images.” Majorly mismatched frames can be visually distracting, Kapen adds. While frames don’t have to be matchy-matchy, Kapen suggests going for a complementary, understated look. “Mix together woods, and for modern spaces, consider frameless lucite frames,” she suggests.

Invest in some closed storage

Open shelving isn’t always the best solution, says designer Julia Newman of Julia Adele Design. “Everyone has mess, you just need to find ways to hide it,” she notes. “While I love a bookcase styling moment, there are many things we need access to that might not be so aesthetically pleasing.” This is where organizational tools like closed cabinetry, baskets, and decorative storage come into play, Newman adds. In other words: Ditch the clutter that’s on full display!

Cut down on your throw pillow collection

The more throw pillows, the merrier? According to some designers, maybe not! “If someone has throw pillows lining the entire length of the sofa, they’ve overdone it,” explains designer Brandi Wilkins of Three Luxe Nine Interiors. Wilkins says placing two to four pillows on a sofa is more than enough in most cases. “Also, not every piece of furniture in your living room needs a throw pillow,” she adds. “If you have pillows on your sofa, perhaps your accent chairs can go without.” Paring down on pillows can make a room seem less visually cluttered. Designer Whitney Jones of Whitney J Decor expresses similar sentiments. “I love beautiful pillows, but I don’t think every chair and sofa needs to have a bunch of them on top,” she says. Too many blankets can have a similar effect on a space. “Display one nice comfy throw, and tuck the others away inside an ottoman, cabinet, or decorative basket to be used as needed,” Jones advises.

Skimp on end tables

Do you really need two end tables in your living room? Most likely, no, says designer Maryline Damour of Damour Drake. “Arranging tables on either side of a sofa is something we do almost without thinking,” she explains. “However, sometimes a lovely, sculptural floor lamp may be a more interesting choice.” This can be particularly true if your space is on the smaller side.

Get more like this on Apartment Therapy.

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Finally, Mortgage Rates and Home Prices Favor Buyers

 
 

Christmas has arrived early for America’s homebuyers! And it’s not just one gift, but two that should make them giddy.

Gift No. 1: lower mortgage rates, which have been falling for the past four weeks.

“Housing data in the week that followed the Thanksgiving holiday showed that the recent dip in mortgage rates may already be having an impact,” explains Realtor.com® Chief Economist Danielle Hale in her weekly analysis.

Gift No. 2: Home price growth “slowed notably” for the week ending Dec. 3, according to Hale.

We unwrap the latest real estate statistics and what they mean for homebuyers and sellers in our weekly column “How’s the Housing Market This Week?

Mortgage rates dipped again

Not too long ago, it had been a grim picture: Mortgage rates had more than doubled over the past year and reached a 20-year high of 7.08% for a 30-year fixed-rate loan in late October.

Yet since then, for the past month, rates have been in a free fall, hitting 6.33% for the week ending Dec. 8, down from the previous week’s 6.49%, according to Freddie Mac.

Even this singular one-week decline comes with major savings on a typical house, amounting to $185 saved per month.

Yet with rates in flux, there may be little time for home shoppers to waste.

“With far more consumers still generally expecting higher rates rather than lower rates, those hoping to make a purchase may have some urgency to capitalize on what may be a temporary dip,” warns Hale.

Home price growth is tapering off

In November, the median price of a house hovered at $416,000. Yes, that’s high, but nowhere near the record high of $449,000 in June.

Furthermore, although the cost of a home has grown by double digits year over year for the past 49 weeks straight, the good news for homebuyers is that this growth is steadily ratcheting down.

For the week ending Dec. 3, the median listing price grew by 10.3% compared with the same week last year. So prices are still higher than a year earlier, but this was a steep decrease from the prior week’s growth rate of 12.2%.

And if the slowing continues, home price growth could move back into single-digit territory before the end of the year, giving buyers even more purchasing power.

Where are all the new homes?

While homebuyers might be thrilled by these sudden good tidings on the mortgage and home price front, the downside is that they’ll have fewer fresh listings to shop.

For 22 consecutive weeks, the number of new home sellers willing to list has dwindled, dropping for the week ending Dec. 3 by 8% compared with this same week last year.

Yet the silver lining is that this is the smallest decline since July.

“Looking ahead, we expect midsized markets that offer affordability and are home to a mix of domestic manufacturing, government, health care, and education employers to have some of the top housing markets of 2023,” says Hale.

Get all the info on Realtor.com

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