Design Trends For Tomorrow’s Communities

Why have design trends for new communities changed so in the past few years?

Changes in what a new home buyer wants in a new community has stemmed from the COVID pandemic’s demands on what a home base should look like after stay-at-home orders. Developers are finidng ways to incorporate things like the latest techonolgy or shifting the look and feel of a community to attract new generations of home buyers.

The biggest way to know what future residents want in tomorrow’s communities is to survey current buyers. “Survey and consumer feedback has always been an essential part of developing and evolving Cresswind lifestyle programming,” shared Jennifer Landers, community director for Kolter Homes, which designed the Cresswind Georgia at Twin Lakes development. The housing market has definetly shifted due to the COVID pandemic.

Developers are creating new ways to fit consumer interest into new communities. The current market shows that they want flexibility, connection with nature, and sustainability. Some examples that developers are adding to communities include multifunctional spaces, community gathering spaces, community gardens, pet-washing stations, outdoor fitness centers, water activities and equestrian trails.

“Developers and home builders are working to make better connections with nature both in terms of amenities and within the homes themselves,” observed Carol Morgan, president of Denim Marketing. “For developments, the standards include wide sidewalks, walking trails, dog parks, fire pits and connectivity with any trails in the area.

“For home design, builders are including lots of connectivity to the outdoors with patios, porches, decks, etc.,” she added. “Many of these are covered to provide year-round protection from the sun and rain.”

Developers also want to keep it affordable to homebuyers and want to stretch their development dollar. Homes are more affordable if a developer can find ways to minimize the cost of the project. A great example of this is desiging road’s networks along the site’s natural contours. At the Tyler, Home on the Lake, development in North Carolina, they converted the developments 60-acre lake from a decorative feature to a usuable amenity.

“We installed paved sidewalks around the lake’s perimeter, worked with local experts to improve water quality and clarity, stocked the lake with fish, and constructed a fishing dock and kayak launch to allow residents to take full advantage of this incredibly unique community feature,” Fidler noted. “The dock is now so popular amongst the residents that we actually had a small community wedding take place there last summer.”

“Amenities are a great focus for marketing campaigns as they portray the lifestyle of the community,” Morgan stated. “We focus on amenities and lifestyle by creating a series of graphics and storyboards for social media and blogs. It is important to tell the story and help potential buyers see how the community will live.”

“Supply is rebounding, and potential home buyers will soon be back to having multiple options to choose from,” she stated. “This is when factors like community layout and design, amenities and location will come back into play and influence home buying decisions.”

Click Here For the Source of the Information.

10th Annual Miracles and Moonlight Gala 2022, November 4, 2022

An event that supports the Ochsner Cancer Institute in New Orleans.

Caesars Superdome
New Orleans, LA

Tickets $200+

 

 Click Here for More Information.

 

Signs That Inflation in Home Prices Might Just Have Peaked

Reports have shown that inflation might have already peaked. This has caused the mortgage rates to start to fall back towards 5%. The week ending in August 18th showed 30-year fixed-rate mortgage at an average of 5.13% according to Freddie Mac. The week prior was an average 5.22% and the year prior the 30-year was 2.86%.

“Inflation appears to be beyond its peak, which has stopped the rapid increase in mortgage rates that the housing market was experiencing earlier this year,” said Sam Khater, Freddie Mac’s chief economist.

The higher mortgage rates hurt the housing market this summer which rose to a high of 5.81% in mid-June. Sales dropped on home sales for both new homes and existing homes causing a dip in mortgage applications. The last week in August 2022 mortgage applications were at their lowest levels since 2000.

“The market continues to absorb the cumulative impact of the large price and rate increases that led to a plunge in affordability,” said Khater. “As a result, over the rest of the year purchase demand likely will continue to drag, supply will modestly increase, and home price growth will decelerate.”

“Home purchase applications continued to be held down by rapidly drying up demand, as high mortgage rates, challenging affordability, and a gloomier outlook of the economy kept buyers on the sidelines,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

If home prices slow in increasing and mortgage rates lower, then hopefully the housing market will bounce back. This hopefully will ring true as a year ago a a buyer could purchase a $390,000 home with 20% down on a 30 year-fixed rate mortgage and have a monthly payment of around $1,292. This same home today will cost a home buyer around $1,700 a month which is around $408 more each month.

Click Here For the Source of the Information.

NOLA National Fried Chicken Festival 2022, October 1, 2022

 

Enjoy the inaugural Custom Car Showcase at the festival in New Orleans.


New Orleans Lakefront
Lakeshore Drive
New Orleans, LA

October 1, 2022
11am – 9pm

 

Click Here for More Information.

Annual Boo at the Zoo, October 21 – 23, 2022

Come celebrate Halloween with the animals at the zoo in New Orleans.

Boo At The Zoo

Audubon Zoo
6500 Magazine Street
New Orleans, Louisiana 70118

October 21 – 23, 2022
10am – 5pm

$30 per person

Click Here For More Information.