Month: August 2023

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Fall decor that makes a home look expensive definitely doesn’t have to come at a premium price. Interiors knowhow can bring high-end results without a big spend.

An expensive fall look can be an aesthetic rather than the result of purchasing power, and that’s a principle that applies generally, as well as proving applicable to fall decor ideas. 

fall decor on a budget? This is what interior designers recommend.

Fall decor that looks expensive

Making a home look expensive relies on understanding how to dress it, and which materials, textures, and objects to choose. Anything that makes your house look cheap is, of course, out of the question.

And whether we’re talking living room fall decor, fall color schemes, fall table decor, fall mantel ideas, or any other part of the home, the same precepts apply when introducing seasonal style. Be inspired by these interior designers’ suggestions to get the high-end look for fall.

1. Atmospheric lighting

(Image credit: Albion Nord)

The right lighting ideas are crucial to make a home look expensive – and key to creating the right autumnal atmosphere. ‘Fall denotes a particular coziness, and lighting is an easy way to nail it,’ says Dan Mazzarini, principal and creative director of BHDM Design and ARCHIVE by Dan Mazzarini.

‘It’s all about finding that sweet spot where functionality meets aesthetics – light dimmers work wonders,’ he advises. ‘With a simple adjustment, you can create a warm mood or set the stage for a cozy movie night. Our suggestions: Lutron Credenza plug-in dimmer and soft white dimmable light bulbs.’

Find the Lutron Credenza dimmer at Amazon.

2. Rich color schemes

(Image credit: Future/Alexander James)

Rich color schemes and muted undertones create a high-end look perfect for the season, says interior designer Artem Kropovinsky, and you can look to the color wheel to put them together. For the living room he suggests forest green complemented by subdued taupe, and for the bedroom: intense wine red contrasted with a mellow beige.

‘Shades like forest green and wine red impart a feeling of affluence and richness,’ he explains. ‘Melding them with understated tones enhances their depth without overpowering the ambience. Such hues mirror autumn’s spirit – the changing foliage and the snug essence of the time. The outcome? A fusion of warmth, plushness, and inviting atmosphere.’

Artem Kropovinsky

Madison Popper, founder of the global interior design firm Chill Casa.

‘You can elevate the allure of your table settings by ensconcing glass vases with meticulously gilded branches and dried florals, crafting an opulent focal point, or add a heritage charm through the inclusion of resplendent gilded mirrors and carefully curated vintage artifacts, capturing the essence of timelessness and extravagance. 

4. Accent wall color

(Image credit: Kit Kemp/Firmdale Hotels)

Consider creating an accent wall to elevate a room and transform it for a new season. ‘I love a good accent wall paint color,’ says interior designer Chantelle Hartman Malarkey. 

‘The right color in a room can bring it to life. I love one painted accent wall that can be a richer darker color that really looks beautiful during the fall season.’

5. Injections of color

(Image credit: Jon Day / Future)

For a chic take on fall decor, consider using accents of color. ‘Instead of the bright red and orange, opt for a neutral palette with selective small pops of color and subtle textures – this allows your fall decor to easily blend in with your existing pieces, making your space feel more cohesive and thoughtfully curated,’ says Jennifer Verruto, founder and CEO of Blythe Interiors.

‘For example, ditch a bright orange vase for a simple gold one instead. Something neutral, yet festive like gold, can easily transition to the following season’s decor. For fall, throw in some gorgeous, dried florals and then swap them out for something more wintery like holly leaves when the time arrives. This will make your decor feel more sophisticated.’

6. Premium seating decor

(Image credit: Sofology )

Dress up the seating around your home for a high-end look. ‘Apt seating adornments can be likened to fine jewelry for interiors,’ says Artem Kropovinsky. ‘Just as the perfect pendant can amplify attire, the ideal blanket or cushion can present furnishings in a more upscale light.’

For the living room, he suggests ‘silken pillows in colors harmonizing with the room, perhaps taupe or wine red’. And for the bedroom, ‘synthetic fur wraps casually placed on a solitary chair or the bed’s edge’.

‘Materials like silk and synthetic fur epitomize luxury. They’re not just visually stunning but also delightfully tactile, enriching the sensory experience,’ he says.

FAQs

How do you decorate for fall classily?

outdoor fall decor. Sophisticated fall weaths and elegant fall front door decor can strike a premium note and boost curb appeal. And for both inside and out, fall craft ideas can create decor that looks expensive but in which you invested just enough for the materials plus your own time.

Source: homesandgardens.com

Apache is functioning normally

The percentage of U.S. adults who would consider buying a foreclosed home has dropped below 50 percent, according to a survey conducted by Trulia and RealtyTrac.

In a previous survey completed in April, 54 percent of adults said they would consider the purchase of a foreclosed home, but that number has since dropped to 47 percent.

Not only that, but negative sentiment with regard to the purchase of a foreclosed home has risen, with 80 percent of respondents concerned with things like hidden costs, the home losing value, and “personal connection with foreclosure.”

To compensate for the risk, homeowners expect unrealistic discounts, with 75 percent of respondents thinking they should pay 25 percent less for a foreclosed home and three of ten wanting at least 50 percent off (hmm).

“What’s significant about our findings is that just as the market is being flooded with more foreclosures, homebuyers are more hesitant to buy them. Misinformation around foreclosures abounds and that’s dangerous for the market and for homebuyers,” said Pete Flint, co-founder and CEO of Trulia, in a release.

A negative shift in consumer sentiment regarding foreclosures could be seen across a number of different demographics, including single, married, and divorced respondents.

Yesterday, DataQuick revealed that 54.6 percent of Southern California home resales in the month of November had been foreclosed on at some point in the previous 12 months.

But who’s actually buying up these distressed properties; investors or common homebuyers looking for a primary residence to settle down in?

On the bright side (for homebuilders), the glut of stagnating new developments could see a boost in sales if foreclosed homes are perceived as risky and less desirable.

(photo: respres)

Source: thetruthaboutmortgage.com

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HIGH POINT – Reflecting on 2022, more than half of retailers said sales were up over 2021, which was considered to be a banner year buoyed by pandemic-fueled shopping. But expectations for how this year will turn out are less optimistic, with just 37% expecting another year of sales growth.

Nearly one-third of respondents to Furniture Today’s sister brand Home Accents Today’s survey expect 2023 to produce lower sales than the previous year, and nearly as many see them as flat. In last year’s survey, more than half – 53% – predicted sales would stay the same this year.

One action the majority of retailers – 59% – took in 2022 was to raise prices. The survey found 44% boosted tags by 6% to 10%, and one-quarter hiked them between 11% and 15%. For 2023, 2 % of respondents have already raised prices or plan to do so, while the same percentage are putting off an increase, leaving about half – 48% – as undecided.

Among those who did opt for higher pricing, all of them said they did so to pass along increases that came from their vendors. Nearly three-fourths – 71% – also cited inflation as a leading cause, while factors such as warehouse costs and supply chain played a much smaller role.

A couple of elements that could influence sales into the future are the growing popularity of sustainable and handmade goods. Products with a sustainability story were deemed very or somewhat important to their customers by 41% of those surveyed, prompting nearly one-fifth of retailers to say they seek out such items at markets.

Meanwhile, almost two-thirds of respondents said they already carry handmade or artisan products in their stores. A little more than one-third, 35%, devote between 5% and 10% of their inventory to artisan goods, while an evenly divided 24% said these items account for 11% to 20% or 21% to 30% of total inventory.

The above data is based on a Home Accents Today’s online survey of home accent, home, gift and interior designer-run retail stores and full-line furniture retailer readers of Home Accents Today and Furniture Today, fielded in June and July 2023. The research was conducted and analyzed by Strategic Insights. Based on the sample size, the survey results are considered qualitative rather than quantitative.

 See also:

Source: furnituretoday.com

Apache is functioning normally

More on the housing affordability front, which I think is a growing concern as the housing market continues to recover and possibly get somewhat ahead of itself.

On Friday, RealtyTrac reported that monthly housing payments increased an average of 21% in the fourth quarter of 2013 from a year earlier.

The rise in housing payments was attributed to both an uptick in mortgage interest rates and an improvement in home prices.

During the fourth quarter of 2012, the average monthly housing payment for a three-bedroom home was $714, based on a 20% down payment and a 3.35% 30-year fixed mortgage rate.

A year later, that figure was $865, thanks in part to the 30-year fixed rising to 4.46% and home prices rising roughly 10%.

The housing payment includes the mortgage, homeowners insurance, taxes, and maintenance, less the estimated income tax benefit.

Incomes Can’t Keep Up with Surging Home Prices

While a $150 per month increase might not sound like much, it’s a lot more problematic in higher-cost regions of the United States.

For example, in Los Angeles County the minimum qualifying income to purchase a median-priced home is now more than $95,000, up from $68,000 a year ago. That’s nearly a 40% jump!

Nationwide, the average minimum household income needed to qualify for a median-priced home increased to $41,544 in the fourth quarter, up from $34,262 a year prior, using a max front-end DTI ratio of 25%.

The three highest minimum qualifying incomes were in Northern California, including San Francisco County ($228,569), Marin County ($177,922), and San Mateo County ($170,284).

Homes were also quite expensive on the East Coast, as evidenced by the minimum qualifying incomes in Arlington County, Virginia ($158,474) and Hudson County, New Jersey ($142,684).

The largest increases in estimated monthly housing payments were in Contra Costa (CA) and Sacramento (CA) counties (up more than 50%), Wayne (MI) and Oakland (MI) counties (up more than 45%), and in Clark County, Nevada (up 43%).

Housing Payments Still Cheaper than Rents in Most Counties

Though the days of low rates and bargain home prices are pretty much over, housing payments are still lower than rents in most counties nationwide.

In fact, the average fair market rent for a three-bedroom home (as determined by HUD) during the fourth quarter still exceeded the estimated monthly housing payment in 91% of counties analyzed (296 out of 325).

However, the 29 counties where it was cheaper to rent than buy accounted for about 20% of the population.

And in the 15 most populated counties analyzed, estimated monthly housing payments were up an average of 34% from a year earlier.

That made it more expensive to buy than rent is six of those 15 counties; a year ago, just one of those counties was deemed more expensive to buy.

The good news is most investors have probably lost interest in the housing market, making it more of a buyer’s market nowadays.

But as RealtyTrac vice president Daren Blomquist aptly pointed out in the press release, financed homeownership is beginning to become “dangerously disconnected” with sluggish incomes.

I suppose this is the danger of artificially low mortgage rates. It also means all-cash buyers still have quite an upper hand, seeing that they only need to concern themselves with the asking price.

Source: thetruthaboutmortgage.com

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A new report from iEmergent, a mortgage data analytics firm, claims a huge chunk of the nation can’t buy a home, despite reduced asking prices and ultra-low mortgage rates.

In its 2014 – 2018 U.S. Total Mortgage Volume Forecast released today, the company claimed that more than 40% of all U.S. households are not part of the available “household pool for home purchase financing.”

In plain English, they apparently aren’t qualified, ready, or willing and able to purchase and finance a piece of property.

This is certainly unwelcome news, considering the fact that home purchase lending was supposed to be the industry’s savior in 2014.

Home Buying Demand ‘Penned Up’

We’re often told that there is pent up demand for housing, usually by the National Association of Realtors, but iEmergent refers to the current situation as “penned up,” meaning household balance sheets aren’t good enough to allow for the purchase and subsequent financing of a home.

Issues like unemployment, stagnant or falling incomes, and tight home loan underwriting guidelines mean only the top 15% of households can get in the game.

iEmergent president Dennis Hedlund noted that consumer spending, the lifeblood of the economy, has been “muted since 2007,” and until it gets back on track home buying will remain subdued.

That said, the total available household pool for home purchase financing is near levels seen in the mid- to late-1990s, before the dot-com bubble took center stage.

2014 Purchase Mortgage Volume Projected to Get Mildly Better

Clearly this is bad news for both renters looking to buy and mortgage lenders looking to dole out loans post-refinance boom.

The projected 2014 purchase mortgage dollar volume is $612 billion, per iEmergent, an increase of just 4.72% from the estimated total last year.

And if you look at purchase loan units, as opposed to volume, the increase is only expected to 1.68%.

In other words, there won’t be that many more purchase loans originated this year compared to 2013, but they’ll be for larger loan amounts.

The numbers could also get a boost from desperate banks and lenders grappling with flagging refinance demand.

Refi Volume Expected to Fall More Than 50% This Year

Speaking of refinancing, volume is expected to fall more than 52% this year, with iEmergent providing a range from as low as $394.5 billion to as high as $477 billion.

The good news is mortgage rates have already sunk since the beginning of the year thanks to some economic jitters, meaning refis might get an unexpected boost.

And if anything happens on the HARP 3 front, that too could pump up the numbers a bit.

There’s also a lot of credit loosening taking place, with even relatively conservative big banks like Wells Fargo lowering LTV and credit score requirements to allow more borrowers to take part.

Of course, this is a dangerous game that could lead to another batch of bad loans, but with the Ability-to-Repay and Qualified Mortgage rules in place, things shouldn’t get too out of hand any time soon.

Overall, the company predicts mortgage volume to total anywhere from $1 trillion to nearly $1.1 trillion this year, with roughly 4.42 to 4.78 million loans originated.

That’s about a 30.3% reduction in mortgage units and 28.4% drop in mortgage dollar volume from 2013.

Source: thetruthaboutmortgage.com

Apache is functioning normally

One of the least densely-populated states in the country, Montana attracts residents who really thrive in an outdoor environment. With plenty of outside recreation, activity is never at a minimum, even if you’re living in a more rural area of the state.

Views are spectacular here and varied. Without leaving Montana, you can see mountains, valleys, plains, hills, lakes, rivers and so much more. This landscape remains in pristine condition thanks to fewer cities, as well.

All that Montana offers definitely caters to those looking for an activity-based, laid-back lifestyle that isn’t without modern amenities and professional opportunities.

Will Montana and your budget come together without issue? Let’s find out by looking at the key costs of living in Montana.

Montana housing prices

Montana is a state of extremes. Some cities are retaining their small-town charm, growing on the slower side and keeping average housing costs more affordable. Other cities are doing the complete opposite, attracting so many people housing prices are skyrocketing. Both are some of the best places to live in Montana, these two cities perfectly represent these opposing price points of the cost of living in Montana.

Great Falls

Sitting on both banks of the Missouri River, Great Falls holds plenty of American history within it. Lewis and Clark passed through Great Falls during their famous expedition, and you’ll find a museum dedicated to cowboy art here.

All of this history comes at an affordable price when looking at housing. Prices are 22.3 percent below the national average. This keeps the average home price in Great Falls down to $322,450, and that means rents are pretty reasonable.

The average monthly rent for a one-bedroom apartment will cost $1,745. This is only an increase of 23 percent over last year. Two-bedroom apartments are seeing much more growth when it comes to price, rising by 51 percent over last year to an average of $1,895 per month.

Bozeman

Unlike Great Falls, Bozeman is experiencing a lot of growth right now. This is due to the state’s classification as a technological and cultural center. This fast-moving boost to the city has driven up housing to 54.8 percent above the national average.

Housing all around in Bozeman is more expensive and prices have jumped up a lot over last year. Home prices aren’t left out of this growth, and the average home in Bozeman costs $620,000.

Food prices

Montana as a state is known for its variety of meat and fruit. You can sample bison burgers (well, anything with bison meat, really,) elk, flathead cherries and huckleberries, just to name a few. With a potentially unique shopping list, Montana residents spend between $267 and $300 per month on groceries. Similar to housing prices, this puts one city over the national average and one under.

  • Great Falls is 8.4 percent below the national average
  • Bozeman is 7.1 percent above the national average

This means certain grocery items will vary greatly between the two cities. For example, steak in Bozeman is almost a dollar more than in Great Falls. Coffee is over $1.50 more in Bozeman, as well. Other food items, though, are the same price. Lettuce is $1.78 no matter where you live.

Food prices also impact the average cost of a night out to dinner. A three-course meal for two is $77.50 in Bozeman. That’s 27 percent more than the same meal will cost in Great Falls.

Utility prices

The cost of living in Montana for utilities is the one area in Montana where most cities fall below the national average in cost.

  • Great Falls is 15.6 percent below the national average
  • Bozeman is 13.7 percent below the national average

This is in spite of the cold and the potential for those big heating bills, which are highly likely considering the amount of snow in Montana every year. Great Falls gets an average of 58 inches of snow per year, and Bozeman gets an average of 65 inches.

Transportation prices

Throughout Montana, most cities have pretty average accessibility when it comes to walking and biking. Many supplement with public transportation, but car ownership is important.

What’s interesting here is which city is above and which is below the national average regarding transportation prices.

  • Bozeman is 0.4 percent below the national average
  • Great Falls is 6.4 percent above the national average

Bozeman is likely less expensive than Great Falls in this case because its public transportation system is actually free.

GFT in Great Falls

For public transportation in Great Falls, it’s all about the GFT, or Great Falls Transit. It consists of seven bus routes that go in every direction throughout the city, but what’s unique is the system’s hours of operation.

While most cities have late-night transportation, the GFT service ends Monday-Friday at 6:30 p.m. and at 5:30 p.m. on Saturdays. The buses don’t run at all on Sundays.

Another unique feature of the GFT is that buses stop at any street corner along its route as long as it’s safe and they’re not blocking an intersection. When you need the bus to stop to pick you up, you simply wave as the driver approaches to notify them you wish to board.

An adult, one-way fare on the GFT is $1.00, but you can get a punch pass for $10, which gives you 11 rides. You can also buy a monthly pass for $30.

Streamline in Bozeman

Also consisting of buses, the Streamline system of public transportation in Bozeman is a zero-fare transit system. Every line is color-coded for easy navigation with both weekday and weekend routes. You have your choice between the blue, purple, brown, pink or gold lines.

Scheduling here is also unique, with buses taking a break on the weekends. On Saturday and Sunday specifically, daytime service ends at 6:15 p.m., picking back up again at 8 p.m. and running until 2:30 a.m. This late-night bus also runs on Thursday and Friday, but overlaps with the daytime schedule.

Healthcare prices

When it comes to healthcare, Montana cities primarily hit right at the national average for costs.

  • Bozeman is 0.5 percent below the national average
  • Great Falls is 0.1 percent above the national average

You’d think this would create some consistency across the average cost of a doctor’s visit, but unfortunately, it does not. In Bozeman, the average doctor’s visit is $113.50, but you’ll pay over $26 more in Great Falls. The average for a doctor’s visit there is $139.50.

Goods and services

Goods and services are all those non-essential items you like to have in your monthly budget. They’re not necessary to survive, but sure make living more comfortable. Like so many components that go into the total cost of living in Montana, prices here hit above and below the national average.

  • Great Falls is 12.9 percent below the national average
  • Bozeman is 17.7 percent above the national average

Numbers here are potentially influenced by the high levels of growth in Bozeman. The rapid influx of people could create most businesses and increase the competition for goods and services, driving prices up.

The best way to see how these average differences really impact your monthly budget is to look at a few goods and services that could make it onto your list.

  • To get a hamburger out with friends in Great Falls, you’ll pay an average price of $5.35, but in Bozeman, that same burger is 31 percent more, costing $7.75
  • To get a haircut in Great Falls, the average cost is $14, but in Bozeman, that cut is 58 percent more at $33.33
  • To go see a movie in Great Falls, the average ticket cost is $10.99, but going to that same movie in Bozeman ups the price by 19 percent to $13.50

You can even see differences like this when looking at goods and services that have a significant expense, like childcare. The cost of a full-day, private preschool in Great Falls is $675 per month, but in Bozeman, the cost rises to $725 per month, a 7 percent differential.

Just about any service or item for purchase will be higher in a more developed city like Bozeman when compared to a slower-growing city like Great Falls.

Taxes in Montana

Montana taxes are a bit different than many states. It doesn’t have a state sales tax and also doesn’t have any local sales taxes. Instead, the focus is on a graduated individual income tax. Rates for this tax range from a single percent up to 6.75 percent.

What this means is that when you spend $1,000 to begin furnishing your newly-rented apartment, none of that total gets taken away by taxes.

How much do I need to earn to live in Montana?

Living in Montana most likely means paying less rent than you would in the more urban areas of the country. Since rent makes up the largest chunk of your cost of living, making sure you can afford it first really is key.

The majority of experts say you need to put 30 percent of your annual income toward rent. The average rent in Montana for a one-bedroom apartment is $1,954. This means you need an annual salary of $78,160 to live comfortably in a single bedroom.

This can make apartment hunting in certain areas harder given that the annual mean salary in Montana is $49,340. You’ll most likely have more options living away from larger urban areas, so opt for smaller cities or suburban communities when you want more housing options.

To get the numbers exact, though, it’s best to work up your own budget when it comes to the cost of living expenses. You can get started figuring out rent as part of your cost of living in Montana by using our rent calculator.

Living in Montana

Montana is easily one of the most picturesque states in the country. Not only that, its less-dense population means there’s more open space to simply enjoy. If an outdoorsy lifestyle is what you crave, in a state that won’t cost you an arm and a leg, Montana is the perfect place for you. The cost of living in Montana makes it very doable.

The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of July 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Source: rent.com