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How the Housing Market Is Changing Due to the Current Economy

While the COVID-19 pandemic had negative impacts on many elements of the economy during 2020, some things had surprisingly pleasant effects. One of the biggest shocks was the amazing reaction of the housing market despite the drastic hardships that the world has seen.
In what sense has the housing market changed during the current economic situation and how does that continue to be the case? We have a few answers to that.

2020 saw impressive percentage increases in several aspects of the housing market such as home worth and home sales. 2021 isn’t appearing to veer from that, but rather only continue upwards bound. While there could be many reasons why home sales boomed and continue to do so, a couple of reasons stand out. One of these is people’s increased appreciation for their homes due to the stay-at-home experience. Another fact was that, thanks to new online platforms, real estate was able to continue forward without skipping a beat. Listings, showings, and contracts could all be done from the comfort of the buyer and sellers’ homes.

Another big contributor to this booming housing market were the millennials, who were and are actively buying homes without holding back. It is no wonder that it is such a competitive market right now as more people than ever are on the hunt to find a home, meaning that houses are flying off the market.

The fact that it has become harder and harder to find houses has led to increased need for new construction, which will also be an exciting boost to the market. It is also an exciting time to become a homeowner since house values are appreciating due to the supply and demand, as well as the all-time low mortgage rates, which is a win on top of another win for many home buyers.

On top of this nationwide housing market boom, Charlotte also made it onto the Realtor.com list of top ten housing markets for 2021, and we are not surprised! If there is one thing that this pandemic has taught us, it is that location is EVERYTHING. With more time being spent in the home and in the nearby surroundings, it is logical why this market is so hot. It’s bigger than just the housing market, these are investments into our futures and preparedness for whatever may be up ahead.

Not only has this pandemic been surprisingly good for the market, but post-pandemic is predicted to only get better! Experts are saying that the bounce-back after COVID-19 will mean even more surge for the housing market, if we can even imagine that!

Right now, the forecast is that new construction homes will be even more fruitful than existing home sales. What does that mean? Well perhaps for you, that means that now might just be your perfect time to finally look into making your custom home dreams come true. Let J&J Custom Homes make this a memorable experience you will never forget. 2021 is the year to do it!

J&J Custom Homes’ 2020 Projects – A Look Back

One of our favorite parts of starting a New Year is reflecting on the wonderful projects accomplished over the past year. J&J Custom Homes is extremely proud of the beautiful homes we were able to create over the course of 2020 and we want to share them with you!

Greyson Ridge

For the first time, J&J Custom Homes embarked on the exciting endeavor of purchasing land to build an entire subdivision off of the popular Providence Road in Charlotte, NC to develop Greyson Ridge. Greyson Ridge is made up of nine properties, and while eight are under way, one beautiful home was completed and is being used as a model home.

615 Sardis Lane

This is a beautiful 3960 square foot home with a modern cottage design, perfect for a North Carolina esthetic. This spacious four-bedroom house not only has a lovely in-law suite, but it stands apart with gorgeous details such as s metal accent roof and open rafters. Our favorite detail? The all-glass garage doors!

1721 Parson Street

The appeal of the modern cottage style continues with this funky 2619 square foot home located in the desirous location of NoDa. This spacious home has 4 bedrooms, 3.5 bathroom and a study. The double-sided fireplace that warms up the cozy appeal of both the living room and kitchen simultaneously makes it warm and inviting!

900 Matheson Avenue

We went craftsman style on this home and its “sister-home” across the street. Nothing like a simple and clean design to fit into a bustling up-and-coming location such as NoDa! This 2770 square foot home lacks no space though, despite its proximity to uptown. Our favorite detail? The spacious and open gourmet kitchen!

901 Matheson Avenue

Much like its “sister-home” across the street at 900, this 2650 square foot Craftsman is very family-friendly with 4 bedrooms, 3.5 bathrooms, a study and a bonus room. Its spunky yet cozy look is ideal for the artsy location of NoDa. The proximity to downtown for such a spacious, family-friendly home is unbeatable!

We are so proud of the beautiful homes that came out of 2020 thanks to the hard work of a great team, and we can’t wait to see what exciting and fun projects will come in 2021!

What Exciting Home Design Trends Will 2021 Hold?

After 2020 being a historical and unprecedented year, many are excited to  see what the New Year will bring. Each New Year typically brings fresh and exciting home design and décor trends; however, it looks like 2021 may be exceptionally so! It comes with no surprise considering how much more important homes have become this year due to the global pandemic. Sheltering in place and spending more time at home have affected these forecasted trends for 2021:

Color Trends

Paint companies have recently released their official colors for 2021 and it isn’t hard to see that 2020 influenced their choices. Some of the colors selected were variations of grey, yellow, teal, dark bronze, lavender, dusty blue, and taupe. The reason for their choices were the emotions behind the colors that have recurring descriptions being comforting, relaxing, serene, uplifting, inspirational, and soothing. These words are no coincidence. Color trends have been impacted by the kinds of feelings people have been needing, and will continue to add, to their homes in the New Year. With people doing more telework and virtual learning, the vital ambiance of our homes has shifted and these new color trends will help achieve more positive emotions.

Kitchen Designs

While many of the same kitchen design trends from 2020 are not expected to go anywhere, there are a few new visions projected for the New Year. One of these styles is a more organic vibe, including the incorporation of materials such as clean and minimalist wood finishes, as well as other natural elements and materials. Kitchens have now become more multi-purpose than ever before and we expect to see this in new structural and design concepts. Some of these may include larger kitchen islands, increased storage to decrease clutter, and different styles to make the kitchen more multi-functional. The kitchen will no longer be just for eating and cooking, but it will also be a space for working, studying, and recreation. Natural materials such as quartz will continue to be a popular choice along with other simple, solid surfaces and backsplashes that keep cleaning and maintenance easy.

Common Areas

Open spaces have been a very popular layout trend in recent years. Separated kitchens, low ceilings, and walled-off living rooms have quickly became a thing of the past. Although we do not expect to see a huge change with this concept, we are anticipating some shifts towards creatively finding design techniques that use up any previously unusable space and creating more little havens instead. Whether it be an office space, craft room, virtual workout room, reading nook, or even a “zoom room”, the open concept will be re-interpreted in multiple ways to provide some privacy for different and new home tasks. Another general trend that will likely continue to rise in popularity is smart-home technology and implementing more use of touchless options, particularly in lieu of this years’ increased awareness of health and sanitation.

Outdoor Living

Of all the increases we have seen this year, one of the most outstanding and refreshing ones has been people’s increased appreciation for spending time outdoors! Apart from walks and bike rides, people have been desperately looking for ways to spend time outside to get fresh air while still at home. Multi-season, functional outdoor spaces will certainly be a craze that we expect to see in 2021 design and construction. This will include everything from porches, patios, and balconies to outdoor kitchens, outdoor dining areas, gardens, and even stylish fire pits. The homes’ outside will be just as important as the inside!

Roofing

No part of the home is left behind when it comes to new trends! The desire for more economically and environmentally friendly options will continue to increase, bringing solar panel roofs and solar shingles to keep growing in popularity. Something else that we have seen already and expect to see more of is requests are for additional skylights. This comes as no surprise considering that with people spending more time indoors, they crave natural light to boost morale and optimism. As far as materials go, architectural shingles will continue to be popular because they are both esthetically pleasing but also affordable. The predicted increase comes with the desirability for lighter and brighter colors as a continuation of the calm and tranquil atmosphere inside the home. Lastly, the demand for synthetic slate roofs will likely also gain popularity because 2020 had no shortage of natural disasters including tornados, hurricanes, and wildfires. Synthetic slate therefore is sought after because of its high fire resistance and storm impact ratings.

A lot of fun and exciting home design trends await us as we delve into 2021. One thing is for sure, our homes are quickly becoming more important than ever before!

How Did the Real Estate Market Stay Strong During a Global Pandemic?

As the year comes to a close, there is one thing that people around the world can agree on and it is that 2020 has truly been a year like no other. Stock market crashes, wildfires, protests, impeachment, murder hornets, allegations of election fraud, and yet, above all else, the thing that 2020 will probably most be remembered for is the infamous COVID-19 global pandemic. It has been a series of life-changing events that we continue to deal with into the coming New Year.

Of all the things that have been negatively impacted by the Coronavirus pandemic, one thing that has surprisingly stayed strong has been the real estate market in the United States. Many are wondering how it could even be possible. Here are a few things that have contributed to its success:

  1. Interest rates have been at a momentous low this year, paired with notable buyer demand. This has resulted in lower inventory in the housing market and, therefore, buyers who are very eager and willing to pay more for real estate.
  2. Governmental assistance such as stimulus money, mortgage relief programs, and even protection from evictions have given consumers a needed boost and confidence to continue actively contributing to the housing market.
  3. The emphasis and shift this year to work-from-home lifestyles and homeschooling have given people a newfound weight to the importance of their home. The pandemic crisis has driven the appeal of suburban living and more expansive residences since people witnessed the struggles that came with enduring a health crisis in congested cities and rentals.
  4. The real estate market discovered its ability to not only continue functioning, but to thrive on a digital platform. Everything from 3D showings to virtual closings have proven that a pandemic did not have to slow down the carrying on of real estate transactions. If anything, it has made it even more convenient and comfortable to some who perhaps found the process intimidating.

These are just a handful of reasons why the Real Estate Market stayed strong despite the tumultuous year that engulfed us all while facing a pandemic. We will be watching and waiting curiously to see what unfolds as the battle to combat COVID-19 continues and how that will affect real estate in the year to come.

-Jassmin Al-Hassan