March Newsletter
Happy March! With spring so close that you can almost smell the flowers, we wanted to share some tips for sprucing up your curb appeal. And to help your garden grow, why not try your hand at home composting? In this month's newsletter, you'll also find 5 decorating trends to try out, as well as a quick update on the national housing market.
Thank you, and enjoy!
-Katie, Olga, Darcie and Teresa
Interior designers have predicted the top home decorating trends for the year, and it's a nice mix of natural elements, elegant accents, and an appreciation for craftsmanship.
1. Earth Tones
Cozy and soothing earth tones, which have been popular for the past couple of years, will continue to rule in 2023. Designers predict it will be a big year for pinks (mauve, peach, coral) as well as earthy browns and reds.
2. Handcrafted Wood Furniture
It's time to stop buying "fast furniture" and invest in pieces that will last. Look for real wood, natural tones, textural finishes, and items "that have an obvious handmade quality to them," says interior designer Avery Cox.
3. Elegance
The design world has decided we could all use a dash of elegance (especially after three years of working from home in our sweatpants). But that doesn't mean you have to abandon your cozy modern-farmhouse vibe—just try adding a few sophisticated details, such as a statement glass chandelier, a velvet throw, or a silver accent table.
4. Monochromatic Rooms
This trend sounds bold and intense, but as it turns out, a room full of just one color can actually be quite calming. One way to apply this trend is by painting a room's trim the same color as the wall. Interior designer Sarah Solis suggests filling the room with "layered textures and textiles in a variety of similar tones."
5. Alternative Visual Art
Think beyond the gallery wall and consider bringing other art mediums into your home, such as a sculpture. Or maybe you'd prefer a tapestry, which can "bring an old-world feel to a room" and can be "an unexpected way to incorporate print on your walls," according to interior designer Jake Arnold.
What do you think about these decorating trends for 2023? You can see even more by checking out the full lists put together by Vogue and Martha Stewart.
What is composting?
Composting is the natural process of organic material decomposing and converting into a nutrient-rich soil amendment (which we call “compost.”)
When people say they’re composting at home, they’re referring to the practice of setting aside their food scraps and yard waste to add to their compost pile. Their goal is to reduce the amount of waste they put in landfills and yield their own supply of compost to enrich their garden soil.
What equipment do I need for home composting?
While some people choose to have an open compost pile, many cities require residents to do their composting in a closed bin like this one. Place your compost bin away from your house (but not so far that you won’t want to make a daily trip to dump your food scraps).
A pitchfork can be helpful for mixing the materials in your compost bin. You will also need a garden hose nearby because your compost pile requires frequent watering.
It is also recommended that you place a sheet of wire mesh under your bin to prevent mice from moving in. (But don’t worry, as long as you keep things like meat and dairy out of your compost bin, the local wildlife should stay away.)
Finally, you’ll need a small trash bin to keep in your kitchen to collect your scraps throughout the day.
What can I add to my compost bin?
You need to maintain the right balance of “greens” (nitrogen-rich material) and “browns” (carbon-rich material). The recommended ratio is 3 or 4 parts brown to 1 part green, but you could also aim for a 50/50 mix.
Greens can include food and vegetable scraps, grass clippings, coffee grounds and paper filters, paper tea bags (but no staples), and rinsed and crushed eggshells.
Browns can be dry leaves, plant stalks and twigs, shredded brown bags, shredded cardboard, and untreated wood chips.
Things you should NOT add to your compost bin:
Meat, fish, and bones
Cheese and dairy products
Pet waste and cat litter
Produce stickers
Fats and oils
Weeds with live seeds
Cooked food
Certified compostable bags, cutlery, plates, etc. (these typically require high temperatures that your home compost bin will not maintain)
Your compost will be ready to use in about 3-5 months, and the final product will be about a third of the size of what you put into it. When it’s dark, loose, crumbly, and smells like fresh soil, it’s time to add it to your garden beds!
Learn even more about composting at EPA.gov/recycle/composting-home.
Selling your home? Let's talk curb appeal! Here are 9 ideas for ensuring your home makes the best possible first impression on potential buyers.
1) Add cozy seating to your front porch.
Encourage buyers to imagine themselves relaxing there on a warm Sunday afternoon.
2) Install new, easy-to-spot house numbers.
Part of a good first impression is making sure the buyer can actually find your house.
3) Trim trees and hedges, and don’t forget to mow the lawn!
Give everything a nice manicured look.
4) Install window boxes or place flower pots near the front door.
Fill them with whatever greenery or blooms are in season.
5) Freshen up the front door.
Is your wooden door looking a little weathered? Re-stain it or paint it! (Dark colors—particularly black—are timelessly stylish.)
6) Spruce up your exterior lighting with new fixtures.
There are so many different styles of sconces for your front door, from traditional lanterns to sleek modern shades.
7) Rent a power washer.
There’s nothing more satisfying than the process of methodically spraying away the grime and dirt from your driveway, sidewalk, and home's exterior. Everything will look brand new when you're done!
8) Hang a cute bird feeder.
Why not? It’ll add some whimsy and charm.
Get more curb appeal ideas from The Close.
National Housing Market Update
Despite continuing growth in housing inventory, only 15 of the country's 400 largest housing markets are back to pre-pandemic inventory levels, according to Fortune. Nationally, active listings in January 2023 were down 43.6% from the 1.1 million active listings in January 2019.
Those 15 markets with plentiful inventory (including Boise, Idaho, and Logan, Utah) have seen a dramatic shift in favor of buyers.
In most markets, both buyers and sellers are facing challenges:
Low buyer demand: Mortgage applications dropped 37% from last year. While rates have been trending downward since the 7% spike in November 2022, the average rate for a 30-year fixed was still hovering just above 6% in mid-February.
Low supply: High mortgage rates have also had a negative impact on housing supply and the number of people selling. Many homeowners who wish to move up to a larger home aren't willing to sell because they don't want to trade their 3% rate for a 6% mortgage.
Homes are sitting on the market longer:
As of mid-February, homes were spending an extra 19 days on the market compared to February 2022. Data from Realtor.com shows that this longer time on market has resulted in a swell of price reductions on for-sale homes.
Prices aren't expected to change dramatically:
Overall price growth slowed in January, took a slight turn upward in early February, and is expected to remain level or continue its downward trajectory. While slight price declines are expected by the end of 2023, experts at Morgan Stanley predict that the changes won't be dramatic enough to cause a crash.