2014 is shaping up to be an exciting year! Optimism is the air and future is bright for home ownership. Here are some predictions what 2014 holds from 3 professionals in the market:
- Real Estate
- Interior Design
I asked Amy Antonacci, a full-service real estate professional with Baird & Warner, for her predictions on the housing market:
Q: Do you see the housing market continuing to mprove in 2014 or do you expect a leveling off or even a decline?
A: I do see the housing market continuing to improve in 2014. I believe that both buyers and sellers are more realistic than they have been in the past several years and they are more ready to act. People have waited for a long time to move on with their lives and there is more certainty surrounding the housing market than in the past. Although interest rates are projected to rise over the course of the year, they are still at unprecedented lows and there are still “deals” to be had. -Amy
Michael Menn of Michael Menn Ltd. offered his take on the outlook for 2014:
Q: What do you see in home building or remodeling trends in 2014?
A: I am cautiously optimistic about 2014 because of governmental interference with the banking industry, mainly the Dodd/Frank act. That being said, I predict that 2014 will be similar to 2013.
Similar trends with Kitchen and Bathroom renovations being top on the list. This is mainly because the boomer generation is staying in their living environments longer and remodeling those spaces they spend the most time in (Master Bath, Kitchen and Family Room). I also see that outdoor living spaces (hot tubs, outdoor kitchens, decks, patios will also be strong. Another area that will continue on being constantly asked for: three and four season rooms. Color in your home will also be strong. Instead of accent walls you will see color throughout, bright colors – just not strong and bold. White kitchens will remain as the number one kitchen asked for. Lastly, a strong asked for trend that I think will remain in 2014 is curb appeal – people spending money on renovating their street presence. -Michael
From the interior design perspective, I am excited about 2014. I am finding that people are more optimistic about changing their living environment. I think in many cases, people have been tired of feeling like they cannot move forward and have the homes they love. I am also seeing people be more creative in their use of space and expect that to continue. Gone are the days of formal rooms (for the most part) and people are living and entertaining more casually. I also expect to see more emphasis on the “outdoor rooms”: the decks, outdoor kitchens and patios that help people enjoy the warmer weather. -Cathy