Eclectic Style

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I love people who have a sense of style without a blueprint. In other words, they just put together things that they love and feel like “home.”

The photo above features a family of misfits, castoffs, and misunderstood objects fills the 1,300-square-foot home of David Reid and James Klein.

You can read more about this gorgeous NYC home at:

http://www.lonny.com/Home+Tour/articles/Qgbc5NUfxEh/Lost+Found+New+York+City+Apartment+KleinReid

52% of Americans Plan to Buy A Home in Next Five Years.


According to the recently released BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also had other interesting revelations.

Those Looking to Buy

74% of those looking to buy a new home will consult a real estate agent

59% said they will visit online real estate websites

37% will seek recommendations from friends and family

78% plan to get pre-approved before seriously searching for a home

Those Who Already Own

75% of current home owners set a budget before looking for a home. 16% ended up spending less while 13% went over their budget.

63% of American homeowners spent under six months looking for a new home before they made a purchase.

8% bought their home without participating in an active real estate search – or even any plan to buy at all – because a specific property caught their attention.

The last point is very interesting: Of those that purchased a home, 8% bought “without any plan to buy at all”. A property caught their attention and they acted on it.

Why are More People not Planning their Next Move?

Why are people that are considering a move not putting their home search to a plan, and instead, buying only when a property catches their attention? A recent article by Fannie Mae may give us that answer, there is evidence that a large numbers of homeowners are dramatically underestimating the equity they have in their current home. The report explains:

“Homeowners may be underestimating their home equity. In particular, if homeowners believe that large down payments are now required to purchase a home, then widespread, large underestimates of their home equity could be deterring them from applying for mortgages, selling their homes, and buying different homes.”

Bottom Line

Perhaps it is time to sit with a real estate professional to determine the actual equity you have in your house and take a look at the opportunities that currently exist in the real estate market. This may be the perfect time to move-up, move-down or buy that vacation home your family has always wanted.

The Color White

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Interior decorators are already declaring this year’s color to be white. WHITE? To be honest, I love it. White is a color and it’s beautiful in a home with no kids, dogs, husbands and basically rarely used. I love white interiors and they are so gorgeous but impractical. However, whether you choose white or bright neon green…go for it with gusto and make it work. #color #white #interiors

Family Wealth Grows as Home Equity Builds

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With residential real estate values rising quite substantially in most parts of the country over the last few years, many homeowners are seeing a major increase in their family’s wealth as equity continues to build in their house.

recent study by the Joint Center of Housing Studies at Harvard University revealed that home equity grew nicely last year and has grown dramatically over the last five years…

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Buyers looking today may not see the same build-up in equity but could still do quite well.

Let’s assume you went into contract in the next six weeks and closed on a $250,000 home in January. If we take the house value projections from the last Home Price Expectation Survey, here is how your equity would grow over the next four years:

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Bottom Line

Homeownership has historically been a great way for the average American family to build wealth over time.