Ways A Barn Door Can Transform A Space

Walk in shower is the focal point of this primary bathroom.

The pandemic changed the way we lived and used the spaces in our homes. Homeowners across the board wanted to add privacy and space to their homes. A great and practical piece that will do both is a stylish barn door. Here are three ways you can transform any room with a barn door.

1. Add Privacy

During the pandemic, the stay-at-home orders meant that we were all in our homes 24/7. Privacy and concealing unattractive space became very important. A barn door can add a good-looking feature to your space that can keep clutter out of view. A great example is concealing a children’s playroom. A barn door can hide the jumble of toys, games and books that can create chaos. A barn door can cover an open shelved kitchen pantry or create a door to an en-suite bathroom.

2. Refresh Your Style

Barn doors are a great look and are more design-forward than you might think. “Homeowners often consider barn doors a solution only in rustic homes,” Michael Truelove, senior product manager for interior doors at Masonite says, “but today’s styles can be anything from modern to industrial to classic and more. The great thing about barn doors is they cover a cross-section of design trends. I wouldn’t say one style is more versatile than the rest, since it depends on style preference and use case.”

3. Save Space

Even if you have a big home, a barn door can help with space issues. For example, if you have an area where a conventional door will not work like a narrow hallway. If you want to give a guest bath, a closet or even a small mudroom privacy and they flow out to a narrow hallway then a barn door will fix the issue. In the past, pocket doors have been our only option but they are not as easy to install or maintain. “Like pocket doors, barn doors take up less space than hinged doors, but in this case, all of the hardware, including the track, is outside of the wall and easy to access,” Truelove says.

Masonite is the perfect company for the job. “We make a few recommendations to ensure the best and safest installation of our doors,” Truelove says. “First, measure the width of your opening and available horizontal and vertical wall space to be sure you purchase the right size door, and read the instructions carefully before you begin.” Keep in mind the kits are designed to work as a total system and any modifications will void the warranty and may cause the unit to work improperly. Truelove recommends that, due to the weight of the doors, you don’t try to go it alone. “And don’t forget to wear appropriate personal protective equipment like gloves and safety goggles,” he says.

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Covington’s Southern Hotel to Expand

A nice southern home built close to New Orleans.
The place residents and tourists go in downtown Covington is North New Hampshire Street where the Southern Hotel is located.  The Southern Hotel not only is a place for visitors, but also holds several movie houses that show all genres of films.  Within the next couple of years, The Southern Hotel will see another expansion. The project will take The Southern Hotel and expand it to cover the entire block.A patterened wall paper sets this powder room apart. The fixtures in this powder room are simple and handsome in design.
Along with the expansion there will be a new restaurant by BRG Hospitality and a renovated Star Theater. The Star Theater will offer a boutique bowling alley, upscale lounge and music stages.  The expansion has around $17 million in new investments and will be considered the largest transformation of the historic district since the renovation of The Southern Hotel in 2014.
The Southern Hotel boasts 48 rooms and is a boutique style hotel in the heart of downtown Covington.  With the expansion, it is planned to add additional rooms, condos and retail space.  The retail space will be modeled after the 1940s-era storefronts and there will be an additional 43,000 square-foot Mission-style building built on land.  The new building will be named the Summer House and have retail space on the first floor,  hotel rooms on the second floor, a full-service spa on the third floor and four condos on the fourth floor.  The total new building will cost around $11 million.
The Star Theater, a 1942 movie house, will be renovated and will be the largest of the downtown Covington Theaters.  The theater has been vacant since Katrina and before was split into two theaters in the 1970s. The $3 million to $5 million project will include a six-lane boutique bowling alley, and an upscale lounge.  Eventually there will be plans for a roof-top lounge with stages for small acoustic bands.
“We had gone past it so many times, I tried for six months to negotiate a purchase,” said Warren Salles referring to the Star.
The new restaurant by BRG Hospitality will be called TAVI and will be housed in a former barbershop and law office.  TAVI will be under Fariz Choumali, who has been leading the kitchen at Shaya, and will offer a Israeli-Lebanese inspired menu.
“Downtown is becoming a night-time destination, and we have to embrace that,” says Covington Mayor Mark Johnson.  The area has already begun to see an increase in activity since the restrictions from the pandemic were lifted.  “We’re not Mayberry anymore. We’re Mayberry on steroids,” says Johnson.

Is Downsizing in Your Best Interest?

Shiplap accents can be seen in the ceiling accents.
Everyone thinks of downsizing once they are empty nesters or many homeowners just might want a change.  Downsizing your home does have many financial advantages as well as less upkeep but is it the best way to go when it comes to taxes?  When you downsize more than likely you will end up with cash from the sale of your larger home which could end up adding to a big tax bill. 
Currently if you sell your home (principal residence) for a profit, you could qualify to  knock off $250,000 ($500,000 for married filing jointly) of your capital gain.  In order for you to benefit from the maximum exclusion you will need to pass the ownership and use test by the IRS.  The IRS will want to make sure you have owned the home for the last two years and that you have lived in the home as your principal residence for the past two years (ending on the date of the sale).
The IRS does have exceptions to the rules when it comes to the ownership and use test.  For example, if you are moving before owning the home for two years because of a job change (seen as unforeseen circumstances) it is exempt.  Other unforeseen circumstances the IRS has are divorce or natural disaster.  In circumstances such as these, the IRS will allow the homeowner to prorate the exclusion.
A homeowner does not have to live in the home for two consecutive years just as long as a homeowner has lived in the home 24 months out of the five years prior to the sale of the home.  Also, you can only claim and exclusion once every two years.
Before you decide to sell your home, you will want to calculate your cost basis.  Do this by figuring out the capital gains on the sale of your home then subtract your cost basis from the selling price.  Your cost basis includes the purchase price along with settlement fees, closing costs and commissions associated with both the purchase and the sale. Take these and add to the cost of all the improvements you have done to the home which will be your cost basis.
Determining if something is a capital improvement or repair is also important because capital improvement can be added to your cost basis but repair cost cannot.  Why?  A capital improvement will increase the value of your home, while a repair will just restore your home to its original condition.  For example, a new deck is a capital improvement while fixing your plumbing is considered a repair.  A new roof would be a capital improvement however, just replacing a  few shingles is just a repair.
If you are looking to downsize, you may want to consider whether to buy or rent.  Renting will release you from all the obligations of owning a home but you will not be building equity and you will have to answer to a landlord.  There is no right or wrong answer, it is a personal preference which is right for you.

Housing Market Slowdown Makes for a Stable Market for Builders

This dining area is practically all windows, letting in natural light. It also includes recessed lighting and faux wood tile flooring.

The housing crash of 2008 was a devastation to the U.S. housing market.  Currently, the economy is slightly taking a negative turn.  The slowdown in the U.S. economy is having many homeowners concerned with the state of the market.  Fortunately, data reveals that today’s slowdown is nothing like the crash in 2008. One of the biggest factors for it not to crash down is the low inventory supply which comes from current homeowners putting their homes on the market, newly built homes being listed, and short sales or foreclosures. 

Even with the uptick in housing supply, resales are still low.  Data shows that inventory is up 27.8%  which was the same time last year but compared to 2019 it is down by 42.6%.  This means that the current inventory is still super low because current homeowners are still hesitant to put their homes on the market.  This does not mean however that there are not enough houses on the market to cause a crash or prices to drop.  This would take a flood of current homeowners that would want to put their house on the market at the same time for this to happen.
Ironically even with such low inventory, homebuilders are slowing down their production currently.  “It has become a very competitive market for builders where they are trying to offload any standing inventory,” says Ali Wolf, Chief Economist at Zonda.
The slowdown is a reaction to the higher mortgage rates and softening buyer demand. Builders do not want to overbuild like they did before the 2008 crash occurred.  Those in the industry say it is a sign that builders are being intentional about not overbuilding homes like what happened during the bubble before the 2008 crash.  The latest report from the U.S. Census states that at today’s current pace, we’re headed to build a seasonally adjusted annual rate of about 1.4 million homes this year. This is the perfect mix to make a stable market.  This will add more inventory at a pace that does not create an oversupply of inventory that the housing market can not absorb.  This is due to the builders being cautious about how much and how fast they are producing.
Distressed properties which are both foreclosures and short sales are another place inventory is pushed out in the market from.  In the 2008 housing crisis, there was an influx of short sales and foreclosures to flood the market in a short period.  This crisis was mainly due to the lenders allowing people to secure a loan they really could not afford the home.  Today’s market does not have to worry about this as much because lending standards are much stricter today than they were back then.  These tighter standards are pushing out more qualified buyers and fewer foreclosures.
Around the time of the 2008 crash, there were well over a million foreclosures per year.  When the lender’s tightened their reigns on lending standards the amount of distressed homes started to decline.  Also, the introduction of the forbearance program in 2020 and 2021 has aided in preventing a repeat crash.  This program gave homeowners the option for loan deferrals and modifications that were not there in the past.  And data on the success of that program shows four out of every five homeowners coming out of forbearance are either paid in full or have worked out a repayment plan to avoid foreclosure.
These three factors are the biggest reasons we will not see another big crash as we had in 2008.  Even though our housing supply is growing in 2022, it will not even touch the amount of homes that would need to hit the market to saturate it and make home prices drop.  If you are in the market for a new home, contact a local real estate agent who can help you with the purchase of a new home.

The Homewood Suites In Covington Will Be Converted To An Apartment Complex

A stand alone tub is the focal point of the master bathroom.
The former Hilton Homewood Suites located in Covington will be turned into an apartment complex called the Fairlane and the rent at the Fairlane will start around $900 a month.  This is according to Zachary Kupperman who along with his partners purchased the property and plans to turn it into an 86-unit apartment complex.
Zachary Kupperman is no stranger to a project like this.  He is responsible for developments such as The Hotel St. Vincent and the Drifter Motel in New Orleans.  Covington is a perfect area for a project like this because so many works remotely and can rent or purchase farther away from New Orleans.  “In bedroom communities like Covington something like (the Fairlane project) can solve all three problems at once,” said Kupperman.
The closing of the hotel was mainly due to the COVID-19 pandemic and the shortage of travelers during the stay-at-home orders. This has been seen all around the country and not just locally.  Renovating closed-down hotels due to COVID has become a trend.  This coupled with the strong growing need for affordable housing has piqued many developers’ interest in such ventures.
The Homewood suites is a type of lodging that is becoming rare to find these days with not only a place to sleep but a kitchen and living area as well.  This kind of accommodation came around for the business traveler who might need a place to stay for weeks at a time.  Although in the past Hilton has offered this type of room, they are now moving away from this sector and refocusing on a more boutique hotel.
The former Covington Homewood Suites is located at 101 Holiday Square close to Interstate 12 junction with Frontage Road.  It is a perfect spot because it sits between a Honda dealership and The Collins (an apartment community that rents from $ 1,300 plus).  As mentioned earlier, The Fairlane will start one-bedrooms out at $900 a month which is very affordable in this area.
“There is no heavy construction and the conversion is fairly light touch, with some painting, carpeting, adding some appliances,” he said. “So spending has been much less.”
The total acquisition and renovation will cost around $9 million which is less than half of what a comparable complex would cost to build from ground up.  Many of the rooms in the hotel were already being used as long-stay accomodations.  The apartment complex will be able to use the existing pool, hot tub and gym area for the amenities.  The unties will be designed by Covington-based Crown Designs and New Orleans-based Key Real Estate will be managing the complex.

The Competive Buyer’s Market Is Slowing Down

What is causing more buyers in the current housing market?

The competition between buyers is slowing causing an increase in buyer activity.This custom built home is close to New Orleans in Covington.

In the second quarter of 2022 there was a increase to 49% in the share of prospective home buyers who are actively seeking a home to purchase. This comes after a decline for three straight quarters in a row. Rising interest rates have pushed many prospective home buyers righ tout of the market.

According to the NAHB’s Housing Trends Report each region saw a different share of prospective home buyers who are actively searching for a home to purchase. The South was the only region that did not see a rise. As for the remaining three, the Northeast went from 50% in the first quarter to 54% in the second quarter, the Midwest went from 40% in the first quarter to 51% in the second quarter and the West saw an increase of 57% in the second quarter from the 46% that was reported in Quarter one.

The housing market has also seen a rise in availability expextations. We have seen a fall for the last five consecutive quarters so this is good news as it grew from 17% to 22% between the first and second quarter of this year. Along with availability expectations affordability expectations also increased. This has been the first increase since 2020 going from 19% to 23% from the first quarter to the second quarter.

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2021 Saw A Huge Increase in Single-Family Starts

When was the last strong growth increase in single-family starts?

The last fast pace of single-family starts grew in 2021 which is the fist time an increase had occured since 2013.

According to the NAHB’s Eye on Housing New single-family starts grew exponentially in 2021. In fact this is the fist time since 2013 there has been such a fast pace in single-family new home starts. NAHB’s Survey of Construction (SOC) reported 1,133,145 new single-family were started in 2021. This is 14% higher than reported in 2020.

The South Atlantic, West South Centeral and Mountain Divisions saw the most new single-family units starts which represented 20 states plus Washington DC. This accounted for 41% of the country and over two-thirds of the total new single-family housing starts in 2021. The Pacific Division increased to 106,240 accounting for 9% and the East North Central Division went to 93,693 accounting for 8%.

The other divisions including East South Central, West North Central, Middle Atlantic and New England made up the remaining 16%. Four of the division grew faster than the national level which were the Middle Atlantic with a 26% increase, the East South Central Division with a 23% increas ehte West South Central Division with a 19% increase.

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Be in the Know When Building a Custom Home

What are some things you should know about when building a custom home?

How to Pay for a Custom Home
What You’re Paying For
Finding the Right Contractor for Your Custom Home
Designing and Building the House

There are many in the housing market that would rather build a home than purchase a new construction home that has already been built. When you build a home you have all the say from start to finish. There are some things you need to know when building a home. Here are some of them that professionals say are important to know.

How to Pay for a Custom Home

If you are in the market to build a custom home, then you will probably be using a construction loan. This type of loan is a short-term loan that will cover all of your expenses while you are building your home. It is a bit lengthier and stricter than a regular mortgage but is perfect for a custom home build. Many people choose to do a construction to permanent loan. Once your home is built and ready to occupy, your loan turns into a standard mortgage loan. Remember that a construction loan is typically only for 12 – 18 months and the payment process is different from a standard mortgage loan.

What You’re Paying For

Remember there will always be extra expenses when building a custom home. These include plumbing, electrical wiring, lighting, internet configuration, and media hookups. There will also be many different industry professionals who you will also need to pay including plumbers, electricians, city inspectors, land surveyors and structural engineers. All this aside, your builder or contractor will reach out and coordinate with all of the suppliers and laborers.

Another cost that you might incur is by using an architect. If you need to have help with the design of your home, then you will need to hire one. If you do not want to choose a stock plan, then this will be the route you need to go.

Finding the Right Contractor for Your Custom Home

This is very important because they not only need to be a professional in the industry but also need to work with your personality. Choosing the right contractor or builder will make all the difference. To go about choosing one, first, start with word of mouth. A first-hand account is always the best. Before making your decision, interview several different contractors. Keep in mind that you will want them to be able to meet your timeline, agree with your vision and have a positive attitude about your design. As with any other interview, check references, read business reviews and google their name to see what comes up.

Designing and Building the House

This will take a good bit of time because your contractor will want to meet with you for several preconstruction meetings. Remember during these meetings to take notes, keep records and pay attention. This way you will be able to reference the plans that were agreed upon. Put the budget in your forethought as you go through your planning stages. It is very easy to get carried away and spend much more if you do not keep track. Always keep in mind if what you plan is good for resale. This can also affect your decisions. Even though it is a long and tedious process, at the end you will have your dream home.

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Madisonville Subdivision Gets Support From St. Tammany Zoning Commission

Will a new subdivision, proposed to be built along Interstate 12 and Jessikat Lane, be accepted by local residents?
A new subdivision of close to one hundred homes is set to be built in Madisonville and will be part of a development of 450 existing homes. Although there has been some opposition from residents in the area, the St. Tammany Parish Zoning Commission approved the groundwork with a vote 6-4 to rezone a part of the land from commercial to residential.

 

A new subdivision of close to one hundred homes is set to be built in Madisonville and will be part of a development of 450 existing homes. Although there has been some opposition from residents in the area, the St. Tammany Parish Zoning Commission approved the groundwork with a vote 6-4 to rezone a part of the land from commercial to residential.

The new homes will be built on 19 acres of undeveloped land close to Interstate 12 and Jessikat Lane that recently changed from being zone commercial to residential and 33 acres that are already zone residential. The land is owned by local home developer Paul LaGrange and is under contract to be purchased by Andrew Cahanin with DSLD Homes.

“Had the zoning not changed, the amount of traffic could have been extremely detrimental to the surrounding area. Generally, residential uses generate much less traffic than commercial in a more predictable pattern,” according to commissioner Patrick Fitzmorris.

Residents in the area are concerned because fifty of the existing homes and the new development will share a single access road to get in and out.

“When I look at this piece of property, it needs new access. It’s one way in and out. It’s completely unsatisfactory,” said commissioner Kenneth Ress.

DSDL says this will not be the case. The new home development will not be as dense as the other developments surrounding it. There will be only two homes per acre. There will be a plan to improve Jessikat Lane which is currently a gravel road that runs along the edge of what will be the new development and make it an access point to the new homes.

Residents do not agree because of the traffic backups already that are a hassle on a daily basis. The backups are caused by the narrow roads. Along with the bad traffic flow, flooding and drainage issues are also a battle. The boost in population will just add to both of these issues.

“This area is basically land-locked. Rex (Avenue) is maxxed out. I’ve been on it. And I dodged the kids and the very deep ditches on both sides. It’s a difficult decision at this point, because the access is just not appropriate for any development at this time,” replies commissioner Nelwyn McInnis.

DSLD’s attorney Paul Mayronne says that the rezoning is just the first step in the process. There will be a traffic study and a hydrological analysis.

“You don’t build a project until you can demonstrate the traffic and drainage will be appropriately handled,” he said. “We believe we can do that, but we can’t prove it until the zoning change.

Click Here For the Source of the Information. 

Rising Home Purchases Means Bigger Spending on Remodeling, Appliances and Furnishings

A closer look at the side entry to this custom home.

According to the data found in the Consumer Expenditure Survey (CES) data from the Bureau of Labor Statistics (BLS), the National Association of Home Builders says that new home buyers and existing home buyers spend thousands of dollars or more on in the first year of owning a home on appliances, furnishings and remodeling. This estimate is derived from the pre-pandemic (2017 – 2019) data collected.

NAHB’s report found that during the first year after the purchase of a new construction home, a homeowner will spend on average over $9,250 on their home over a non-moving home owner, and those that purchased an existing home spent around $5,240 over non-moving homeowners. This shows that a home purchase causes an increase in spending. These expenditures are mostly on things like appliances, furnishings, and remodeling.

New home buyers also spend a lot more on property alterations and repairs.  A typical new home buyer is estimated to spend almost twice as much on these projects ($9,288) compared to a similar household that stays put in a house they already own. When looking closer, the study showed that these expenses were from building outdoor features such as a pool, patio, fences, and landscaping.

When someone moves into a new home, they also want to have some new furnishings. This also triggers bigger spending. It is estimated that a new home buyer spends around $3,000 or more on furnishings during the first year of owning a home and $1,870 on appliances.

If a new home buyer purchases an older home, this price can go up even more. It is estimated that they tend to spend around $5,238 more on remodeling, furnishings and appliances. The majority of the spending is on property repairs, alterations and remodeling projects. Homeowners that do not move will spend around $4,282 in a year on home projects while those that buy existing homes will spend around $7,400 during the first year after closing. The data shows that home buying does spark additional spending.

Click Here For the Source of the Information.