It’s not winter yet, but the early fall days are already getting shorter, and sometimes it feels like the summer sunshine is passing by faster than our last vacation. And the cold is not far behind. 

So, when it comes to keeping up cheerful sunny spirits well into Halloween and beyond, and warming both our spirits and our homes, it’s all about maximizing natural light. Here are some simple but effective interior decorating hacks to make the most of the daylight this fall.

1. Rearrange furniture

One of the easiest ways to increase access to natural light is by rearranging your furniture. If you have large or bulky pieces like armoires near windows or in places where light could be blocked, consider moving them. Put your chairs, sofas and desks near windows to capitalize on the daylight and create lanes or passages that allow you to approach the glass. Position reflective surfaces, such as glass-topped tables or light-colored furniture, where they can bounce morning or evening light (whichever you’re craving) deeper into the room, enhancing the overall brightness.

2. Swap out window treatments

Heavy drapes and dark curtains can make a room feel cozy and provide extra insulation during our long Midwestern winters, but they also limit the amount of sunlight that can enter. This fall, consider swapping them out for lighter options. Sheer curtains, for example, let light filter through while still giving privacy. Roman shades or light-colored blinds can also be a good compromise, offering function without sacrificing sunlight.

3. Incorporate mirrors and reflective surfaces

Mirrors are a great tool for amplifying the available light. By strategically placing mirrors opposite or near windows, you can reflect light around a room, making it appear larger and brighter. Don’t forget about accessories, either. Metallic and glossy finishes on picture frames and decorative accents can also reflect light, adding a touch of sparkle to your space as the sunlight hits them.

4. Paint and decorate strategically

Color and fabric play big roles in how light interacts with a room. Lighter paint colors, particularly whites, creams and pastels, can make a room feel more open and airier by reflecting light instead of absorbing it. If you want to refresh your walls for fall, use warm, light hues. Do the same for fabrics on items like decorative pillows, rugs and blankets. If you love dark colors, try incorporating them just as accents to keep the overall atmosphere sunny and inviting.

5. Grab the Windex

It may seem obvious, but clean windows make a ton of difference in the amount of light that comes into a room. Dust, grime and smudges can reduce the clarity and brightness of your windows (not to mention the fact that it doesn’t look good), so even though some housekeepers “don’t do windows,” you should if you want to bump up the sunlight factor. Also, keep clutter off windowsills to prevent shadows and maximize your natural window light.

6. Trim outdoor plants

As trees and plants grow throughout the summer, they can start to block natural light from entering your home. Though the leaves may eventually fall off, you’ll still want to trim back overgrown branches obstructing your windows. This not only maximizes your light but gives you a head start on spring maintenance and creates the best view of the beautiful autumn scenery outside.

7. Think about skylights and windows

If you have a bigger budget, consider adding windows, skylights or solar tubes in the darker areas of your home. Skylights are great in rooms like bathrooms or hallways that have limited space for windows. Solar tubes (small, cylindrical pipes that reflect light in from your roof) are a more compact, budget-friendly alternative to skylights. They’re also energy-efficient and can be installed in almost any room.

When it comes to maximizing your natural light for fall, keep it simple: Make small, thoughtful changes that showcase autumn’s beauty while keeping your space sunny and welcoming. By using these decorating tips, you can create a home that’s filled with light and warmth, taking full advantage of one of our most beautiful seasons in the Midwest.

@properties - Georgia Garvey 

You may be hearing a lot of talk about the Federal Reserve (the Fed) and how their actions will impact the housing market right now. Here’s why.

The Fed meets again this week to decide the next step with the Federal Funds Rate. That’s how much it costs banks to borrow from each other. Now, that’s not the same thing as setting mortgage rates, but mortgage rates can be influenced through this process. And if you’re thinking about buying or selling a home, you may be wondering about the downstream impact and when mortgage rates will come down.

Here’s a quick rundown of what you need to know to help you anticipate what’ll happen next. The Fed’s decisions are guided by these three key economic indicators:

1. The Direction of Inflation
2. How Many Jobs the Economy Is Adding
3. The Unemployment Rate

Let’s take a look at each one.

1. The Direction of Inflation

You’ve likely noticed prices for everyday goods and services seem to be higher each time you make a purchase at the store. That’s because of inflation – and the Fed wants to see that number come back down so it’s closer to their 2% target.

Right now, it’s still higher than that. But despite a little volatility, inflation has generally been moving in the right direction. It gradually came down over the past two years, and is holding fairly steady right now (see graph below):

The path of inflation – though still not at their target rate – is a big part of the reason why the Fed will likely lower the Fed Funds Rate again this week to make borrowing less expensive, while still ensuring the economy continues to grow.

2. How Many Jobs the Economy Is Adding

The Fed is also keeping an eye on how many new jobs are added to the economy each month. They want job growth to slow down a bit before they cut the Federal Funds Rate further. When fewer jobs are created, it shows the economy is still doing well, but gradually cooling off—exactly what they’re aiming for. And that’s what’s happening right now. Reuters says:

“Any doubts the Federal Reserve will go ahead with an interest-rate cut . . . fell away on Friday after a government report showed U.S. employers added fewer workers in October than in any month since December 2020.”

Employers are still hiring, but just not as many positions right now. This shows the job market is starting to slow down after running hot for a while, which is what the Fed wants to see.

3. The Unemployment Rate

The unemployment rate shows the percentage of people who want jobs but can’t find them. A low unemployment rate means most people are working, which is great. However, it can push inflation higher because more people working means more spending—and that makes prices go up.

Many economists consider any unemployment rate below 5% to be as close to full employment as is realistically possible. In the most recent report, unemployment is sitting at 4.1% (see graph below):

Unemployment this low shows the labor market is still strong even as fewer jobs were added to the economy. That’s the balance the Fed is looking for.

What Does This Mean Going Forward?

Overall, the economy is headed in the direction the Fed wants to see – and that’s why experts say they will likely cut the Federal Funds Rate by a quarter of a percentage point this week, according to the CME FedWatch Tool.

If that expectation ends up being correct, that could pave the way for mortgage rates to come down too. But that doesn’t mean they’ll fall immediately. It will take some time. Remember, the Fed doesn’t determine mortgage rates. Forecasts show mortgage rates will ease more gradually over the course of the next year as long as these economic indicators continue to move in the right direction and the Fed can continue their Federal Funds rate cuts through 2025.

But a change in any one of the factors mentioned here could cause a shift in the market and in the Fed’s actions in the days and months ahead. So, brace for some volatility, and for mortgage rates to respond along the way. As Ralph McLaughlin, Senior Economist at Realtor.com, notes:

“The trajectory of rates over the coming months will be largely dependent on three key factors: (1) the performance of the labor market, (2) the outcome of the presidential election, and (3) any possible reemergence of inflationary pressure. While volatility has been the theme of mortgage rates over the past several months, we expect stability to reemerge towards the end of November and into early December.”

Bottom Line

While the Fed’s actions play a part, economic data and market conditions are what really drive mortgage rates. As we move through the rest of 2024 and 2025, expect rates to stabilize or decline gradually, offering more certainty in what has been a volatile market. 

KCC - 11/2024

Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising forecasts, especially when it comes to two key factors that directly affect your decisions: mortgage rates and home prices.

Whether you’re thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.

Mortgage Rates Are Forecast To Come Down

One of the biggest factors likely affecting your plans is mortgage rates, and the forecast looks positive. After rising dramatically in recent years, experts project rates will ease slightly throughout the course of 2025 (see graph below):

While that decline won’t be a straight line down, the overall trend should continue over the next year. Expect a few bumps along the way, because the trajectory of rates will depend on new economic data and inflation numbers as they’re released. But don’t get too hung up on those blips and reactions from the market as they happen. Focus on the bigger picture.

Lower mortgage rates mean improving affordability. As rates come down, your monthly mortgage payment decreases, giving you more flexibility in what you can afford if you buy a home.

This shift will likely bring more buyers and sellers back into the market, though. As Charlie Dougherty, Director and Senior Economist at Wells Fargo, explains:

“Lower financing costs will likely boost demand by pulling affordability-crunched buyers off of the sidelines.”

As that happens, both inventory and competition among buyers will ramp back up. The takeaway? You can get ahead of that competition now. Lean on your agent to make sure you understand how the shifts in rates are impacting demand in your area.

Home Price Projections Show Modest Growth

While mortgage rates are expected to come down slightly, home prices are forecast to rise—but at a much more moderate pace than the market has seen in recent years.

Experts are saying home prices will grow by an average of about 2.5% nationally in 2025 (see graph below):

This is far more manageable than the rapid price increases of previous years, which saw double-digit percentage growth in some markets.

What’s behind this ongoing increase in prices? Again, it has to do with demand. As more buyers return to the market, demand will rise – but so will supply as sellers feel less rate-locked.

More buyers in markets with inventory that’s still below the norm will put upward pressure on prices. But with more homes likely to be listed, supply will help keep price growth in check. This means that while prices will rise, they’ll do so at a healthier, more sustainable pace.

Of course, these national trends may not reflect exactly what’s happening in your local market. Some areas might see faster price growth, while others could see slower gains. As Lance Lambert, Co-Founder of ResiClub, says:

“Even if the average national home price forecast for 2025 is correct, it’s possible that some regional housing markets could see mild home price declines, while some markets could still see elevated appreciation. That has been, after all, the case this year.”

Even the few markets that may see flat or slightly lower prices in 2025 have had so much appreciation in recent years – it may not have a big impact. That’s why it’s important to work with a local real estate expert who can give you a clear picture of what’s happening where you’re looking to buy or sell.

Bottom Line

With mortgage rates expected to ease and home prices projected to rise at a more moderate pace, 2025 is shaping up to be a more promising year for both buyers and sellers.

If you have any questions about how these trends might impact your plans, connect with a local agent. That way you’ve got someone to help you navigate the market and make the most of the opportunities ahead.

Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.

The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.

As the green circle in the graph below shows, the typical September decline in homes coming to the market didn’t happen – that number actually went up (see graph below):

Ralph McLaughlin, Senior Economist at Realtor.com, explains why there was an unseasonable rise:

“This sharp increase is largely due to the decline in mortgage rates in mid-August, enticing homeowners to sell.”

So, as rates came down at the end of the summer, more people jumped into the market and decided to make their move.

What Does This Mean If You’re Looking To Buy a Home?

It means more fresh options to choose from than you’ve had in a while – not the ones that have been sitting around, unsold.

But keep in mind, mortgage rates have been volatile lately, ticking up slightly in recent weeks, which could limit the number of people who feel comfortable with the idea of selling in the months ahead. And in this market, it’s mortgage rates that are largely driving homeowner decisions.

Why Buy Now, Rather Than Wait?

Whether you’re looking for a starter home, an upgrade, or hoping to downsize, you have more homes to choose from right now. And if you can find what you’re looking for, know that these new, fresh options won’t be on the market forever. So, staying on top of what’s available in your local area with a trusted agent is key.

And remember, one month doesn’t make a trend. So, what does that mean going forward? Whether more homeowners than normal continue to put their houses on the market will largely depend on what happens with mortgage rates and the economic factors that impact them, like inflation, employment, and the reactions by the Federal Reserve.

With that in mind, now might be your moment, while more homes are available – if you’re ready, willing, and able to buy this fall.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“The rise in inventory – and, more technically, the accompanying months’ supply – implies home buyers are in a much-improved position to find the right home and at more favorable prices.”

Bottom Line

As rates came down at the end of the summer, sellers started to trickle back into the market, which means buyers have more choices right now. And working with a trusted local real estate agent is the best way to take advantage of your new options before they’re all scooped up.

KCM - October 2024 

Some Highlights

• Affordability is based on three key factors: mortgage rates, home prices, and wages.
• And today, it’s improving quickly as rates come down, prices level off, and wages climb. 
• If you put your search on pause because it was too expensive to buy, connect with an agent to talk about why now may be the perfect time to jump back in.

Halloween Events In Kane County

DUPAGE EVENTS

Get ready to scare up some fun this Halloween season in DuPage! From pumpkin patches bursting with fall charm to trick-or-treating, there’s no shortage of spooky and spirited events to enjoy. Grab your witch’s hat, dust off that broomstick, and prepare for a hauntingly good time. Here are some Halloween events you can look forward to. 

Events with Multiple Dates

Fall Festival and Haunted Hayride
Sonny Acres Farm
Through October 30, 2024

Pumpkin Fest
Cosley Zoo
All October

Boo! At the Zoo
Brookfield Zoo
October 5-20, 2024

Cantigny Fall Fest
Cantigny
​October 11-13, 2024

Glass Pumpkin Patch
The Morton Arboretum
​October 11-13, 2024

Monster Mash Carnival
The Forge: Lemont Quarries
October 11-13, 2024

All Hallows Eve
Naper Settlement - Outdoor History Museum
October 18-19, 2024

Howlin' at the Moon
Naper Settlement - Outdoor History Museum
October 25-26, 2024

One-Time Events

The Last Straw
William L. Gregg House Museum
October 6, 2024

Witches Walk
Downtown Glen Ellyn
October 10, 2024

Halloween Happening
Wheaton Community Center
October 11, 2024

Night at the Museum: Halloween Party
DuPage County Historical Museum
October 18, 2024

Zoo after Dark: Boos and Brews
Brookfield Zoo
October 19, 2024

Family Night Trick or Treat
Cantigny
October 25, 2024

Monster Mash
Yorktown Center
October 26, 2024

Pumpkin Palooza
DuPage Children's Museum
October 26, 2024

Trick or Treating
Downtown Wheaton
October 26, 2024

Halloween Hop
Downtown Naperville
October 27, 2024

Spooktacular Brunch
Drury Lane Theatre & Events
October 27, 2024

Kane County Connects Staff 10/2/2023 6:00AM

Discoverdupage.com

If you’ve been hesitant to list your house because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent.

After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the Federal Reserve cut the Federal Funds Rate for the first time since they began raising that rate in March 2022. And while they don’t control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower mortgage rates are bringing more buyers back into the market. Lisa Sturtevant, Chief Economist at Bright MLS, says:

“A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.”

The best part? You can take advantage of that renewed buyer interest.

As Rates Fall, Buyer Activity Goes Up

The graph below illustrates the relationship between falling mortgage rates and rising buyer activity. The orange line represents the average 30-year fixed mortgage rate, while the blue line shows the Mortgage Bankers Association (MBA) Mortgage Application Index, which tracks the number of mortgage applications.

As you can see, as mortgage rates (orange) come down, the Mortgage Application Index (blue) rises, showing more people start to re-engage in the process (see graph below):

What This Means for You

According to the National Association of Realtors (NAR), home sales increased in July, which was a welcome shift after four straight months of declines. If you’re a homeowner thinking about selling, this uptick in buyer activity works in your favor.

More buyers means more competition, which can lead to higher offers and shorter time on the market for your house. And, according to Edward Seiler, AVP of Housing Economics at the Mortgage Bankers Association (MBA), this trend is expected to continue:

“MBA is expecting that slower home-price appreciation, coupled with lower rates, will ease affordability constraints and lead to increased activity in the housing market.”

All in all, the market is becoming more accessible to a wider range of buyers, which could result in even more people looking to purchase a house like yours.

With more buyers entering the market, now’s the time to start getting your house ready to sell.

Bottom Line

The recent decline in mortgage rates is already driving more buyers into the market, and experts project this trend will continue. Work with a local real estate agent to take advantage of this increased buyer demand and get your house ready to sell.

KCM - September 2024