If you are a single woman looking to buy a new home, you will want to read this.

Even though single women statistically default on their mortgages less often than men, they are denied credit more often and get charged more for their loans. In addition, even though single ladies typically make larger down payments according to the Housing Financing Policy Center of the Urban Institute, they typically have lower incomes.

Single women are one of the largest group of homebuyers in the marketplace, averaging about 15-20 percent of home purchases. Second only to married buyers with a 67 percent buying average and men only accounting for about 9 percent of home purchases.

In The Urban Institute study they looked at a national database of mortgage transactions compiled by the federal government as well as proprietary information on borrower-credit characteristics from an analytics firm.

The study revealed single women pay slightly more for their mortgages in spite of their superior repayment record. Some of this attributed inequality is because of “weaker credit characteristics” at the application stage resulting in subprime, or higher-cost, financing.

The authors argue that in fairness, “we need to develop more robust and accurate measures of risk to ensure that we aren’t denying mortgages to women who are fully able to make good on their payments.” As the pattern of lower default rates by single women borrowers remained persistent throughout all three years of the study period.

Real estate agents say single women are more emotionally invested when buying a condo or a house and are buying to fulfill a dream. Whereas men are more interested in the tax write-offs and financial gains.

But the more disturbing factor is that single women are simply paying too much for their home loans. The Urban Institute study attributes this to “Given that more than one-third of single women borrowers are minorities and almost half of them live in low-income communities.”

However, the 2011 Journal of Real Estate Finance and Economics doesn’t believe gender discrimination is to blame: “While the persistence of gender disparity may suggest discrimination, we offer a different explanation: Women pay higher rates because they are more likely to choose lenders by recommendation, while men tend to search for the lowest rate.”

What does this mean? It could mean thousands of dollars in extra payments for women on a 30-year mortgage. A man pays $26,000 less than a woman in interest over the life of the assuming he gets a 5% mortgage rate while she gets a 5.4% rate.

So ladies you may not always be able to get a better price on a mortgage but it is most certainly worth a shot. Do your homework and double-check those referrals by comparing interest rates online through websites like LendingTree.com.

Sources: Do Women Pay More for Mortgages? and 6 times it’s more expensive to be a woman

Good things come to those who wait. That’s just how I felt when I walked through the doors of Facings of America in Scottsdale, Arizona for a design networking event.

A second generation owned and operated business, Facings has a reputation of having one of the most extensive tile and stone offerings in the industry. Since 1967, they have been direct importers of tile and stone from around the world with a special emphasis in European stones and tiles. Facings’ inventory is supplemented with tile, stone and other related products from top domestic vendors.

On this particular visit I was greeted by a very attentive woman who promptly gave me a tour of the facility. I was quite impressed during this brief but highly enjoyable tour. She was not only able to thoroughly answer all of my questions but offered up informative facts as I expressed interest in different tiles and displays. Facings is open to designers, architects and walk-in clients, offering the same excellent customer experience.

What was particularly impressive was the large selection of natural stone, ceramic, porcelain, glass, terracotta tiles artistically displayed on boards and in vignettes all designed to help make product selection easier. Such a remarkable collection is sure to meet your exacting standards as well as project budget requirements.

In addition to a dramatic selection of tiles, Facings also carries a generous line of architectural features that complement many of its stone flooring options. Facings designs and fabricates some very beautiful and unique architectural features with most pieces hand-carved by Italian artisans in the heart of Tuscany. Architectural features include columns, fireplaces, fountains, balcony balustrades, pool coping, and door and window surrounds.

Facings’ design consultants have a wide-range of design experience and have completed an extensive two-week certification program. Clearly a very effective training program as evidenced by my tour guide.

Facings offers full warehouse support. When orders are received, they are inspected for quality and can be stored in their warehouse until needed on the job-site. This level of accommodation helps reduce job site mishaps as well as maintaining the pristine condition of the materials pending installation in your project. The warehouse storage policies are a welcome benefit to designers and tile contractors in helping to keep projects on time and within budget.

Facings has 15,000 SF of showroom space between its two valley locations. Both fully stocked and waiting to assist you with your next project.

What type of business entrepreneur are you? Depending where your business falls in its life-cycle determines what you should be doing to help get you to the next stage of business success.

Each day lenders work with a variety of business entrepreneurs and, no matter their age, experience level or type of business, lenders find business entrepreneurs all fall into one of five categories, depending upon the stage of the business life-cycle they’re navigating.

The Crisis Manager is facing a code red situation. This business entrepreneur is dealing with a critical event that could kill their business and action is needed quickly. Typically they need a bit of financial relief and a little breathing room such as debt restructuring, changing the type of finance or changing lenders entirely.

The Plateaued or the would-be expander. These business entrepreneurs aren’t failing but they’re not setting the world on fire, either. Whether the management team is suspect or there’s just a lack of growth, these companies need a little direction such as pointing them toward the federal Small Business Administration (SBA) to propel them into a more proactive mode.

The Contented is a happy entrepreneur whose business is booming and their finances are in good shape. This is a good time to consider securing a line of credit since it isn’t immediately needed it’s a good way to secure a good rate and prepare for potential pitfalls ahead. It’s also a good time to see a small business attorney to develop a succession plan.

The Expander is a business entrepreneur who is succeeding, but could still take things to the next level such as adding a new production line, developing new products, or to expand facilities. They are prime candidates for an SBA loan or asset-specific financing rather than general cash flow financing.

The Exiter may sound like a superhero, but they are really someone just looking to maximize the process of cashing out. This sounds easy, but it actually can be both complicated and time consuming. Typically, the clean-up process should begin three years before the actual sale. Choosing the right legal or financial advisers is crucial and it’s equally important to complete tasks such as shifting debt off the balance sheet.

There may be five main stages of entrepreneurship, but each requires vastly different aging approaches that must be fine-tuned to tackle each unique circumstance.

Source: Which Stage of the Entrepreneurial Journey Are You In?

Well, I can start with the statistics. According to the National Association of Realtors 2015 profile of home staging report, over 95% of Buyer’s agents say that home staging has at least some effect on the buyer’s view of the home. The report also reflects an increase in sales price and a faster sale correlated with staging of a home. It seems to make sense, right?

A professional stager brings perfectly placed, trendy furniture into a vacant home to define each space. They choose appealing accessories, pop color with throw pillows and area rugs, and of course the ubiquitous bowl of bright yellow lemons in the kitchen. It all comes together to create just the right vision in a Buyer’s eyes. I have been on upwards of a 100 home tours, and although I am not a Realtor® or trained designer, I do know that a staged home, has a certain “wow-factor” over a vacant home. To a typical buyer, defining spaces, furniture placement, and the like, can be a huge challenge in a vacant property. Staging provides visual stimulation for the buyer that “revs up” their emotions. Suddenly they can picture themselves living in the home!

Lauren Ellington – Realtor

There are always exceptions to the rules. I recently was on a home tour, and during the Realtor® feedback session, there was a strong recommendation to stage a new built home that was on the tour. This newly constructed home had stunning architectural accents, beautiful flooring, plus typically unseen fine finishes. However, another Realtor® advised to the contrary, stating that all of the extra touches would have gone unnoticed if it was staged. After back and forth debate, ultimately the rest of the agents agreed. No staging needed on this lucky listing!

Nicole Wolf – Green Street Communities

Depending on the part of the country you reside, selling your home is competitive. Staging can pack a powerful punch of pizazz to your listing, to gain that slight edge needed to get the home sold.

Top Image: Lauren Ellington – Realtor

After 20 plus years of kitchen design on the east coast, primarily in New York, Laura Eagan, CKD, co-owner of Estrella Cabinetry and Design Center in Goodyear, AZ, shares her observations of coastal kitchen design.

Laura states she is excited with the variety of clients and styles that come into her showroom. She works with a lot of Canadian clients, clients with Asian styles, Polynesian styles, Mexican styles, western styles, minimalists, east coast clients, and more. Laura loves her East Coast kitchens, but the larger kitchens and personalized style of West Coast Kitchens make her heart sing. Here are some of the differences Laura notes:

East Coast Kitchens:

• Traditional detailed cabinetry with insets
• Fitted cabinetry with attention to detail, craftsmanship, and quality
• Painted finishes
• Often Cherry wood
• No different design styles

West Coast Kitchens:

• Wide range of design styles – contemporary, transitional, more personalized to reflect clients’ tastes/personalities
• Multicultural clients and influences
• Often second homes for winter visitors
• Full overlay/Euro-style cabinetry popular
• Painted finishes with gray finishes/stains leading the way

Laura Eagan has practiced kitchen design in Arizona for the past years. Her showroom, Estrella Cabinetry and Design Center, co-owned with Kimberly Sambito, Allied ASID, is approaching its one-year anniversary. Laura is on the Board of Directors of National Kitchen & Bath Association, Phoenix Chapter. Additionally, Laura is a member of the Editorial Advisory Board for the Kitchen & Bath Business publication of The Kitchen & Bath Industry Show. Contact info: Estrella Cabinetry and Design Center, 1981 N Pebble Creek Parkway, Goodyear, AZ 85395, 623.535.7655

Nothing thrills us more than finding a stunning product locally manufactured. Today’s product of the month is a sexy, custom-made sink out of one of the hottest materials in modern-day design, concrete.

The sleek, integral design of this concrete sink boasts a half-round half-rectangular edge with gently sloping bowl. The seamless appearance and smooth transition from sink-to-surface is complimented by the narrow drain hidden discretely along the fold, sure to add an elegant touch to any bathroom.

The beauty of concrete sinks is that the design is only limited by your imagination and your client’s needs. SlabHaus, an Arizona-based company, is able to make any kind of concrete sink your project demands. With the help of fabric forming these craftsmen create very unique and one-of–kind designs that look very natural. SlabHaus crafts concrete sinks in an endless array of shapes, forms, and drain solutions that inspire and compliment the individuality of each and every client.

Available through Pacific Manufacturing.

Mel Roman: Coming Out Under Fire | SMoCA May 21 – Oct 2, 2016

Art completes a beautiful home like jewelry completes your outfit. Whether a dramatic oil painting, Pop Art print, or framed illustration, art in the home reveals something about you and your style.

If you’re not a Christie’s or Sotheby’s frequent shopper or have a private dealer that you turn to for those fabulous pops of color, works by the likes of Basquiat and Hirst are likely a little out of your reach. Happily, iconic artwork has made its way outside the frame and onto everything from porcelain to wallpaper to deck chairs, thanks to museum shops such as Phoenix Art Museum, Scottsdale Museum of Contemporary Art, and the Heard Museum.

Here are 6 creative ways to incorporate museum-quality art into your home.

From the collection of Phoenix Art Museum!

Is that a wink or a smile? Have a whimsical masterpiece in your home or office and never be late again with this Mona Lisa clock from Phoenix Art Museum, $29.99

From the collection of Phoenix Art Museum!

Start your morning with a hot cup of coffee in Galison’s colorful ceramic mug featuring the Campbell Soup Can imagery made famous by Andy Warhol from Phoenix Art Museum, $14.99

From the collection of Phoenix Art Museum!

This lovely infinity scarf is based on Joseph Stella’s painting, Flowers, Italy. Complete your outfit with this highly decorative, stylized exuberance typical of Stella’s work from Phoenix Art Museum, $24.99

From the collection of Phoenix Art Museum!

The porcelain plate series by Kehinde WIley includes six designs of six different faces — 3 male and 3 female. Start the conversation with a table set in these colorful and vibrant plates from Phoenix Art Museum, $99 per plate.

From the collection of Heard Museum!

“Rain Council” Giclee Print by Margarete Bagshaw (Santa Clara) 3/50 is the perfect print to tie your contemporary home and your love of the southwest from Heard Museum, $400

From the collection of Heard Museum!

Display your holiday bounty in this coiled basket with spider design by Margaret Kootswatewa (Hopi). She still practices the laborious task of harvesting and preparing her own weaving materials from Heard Museum, $600

The moment has come. You’ve begun to think about growing your small interior design firm. Maybe you’re looking to add to your solo practice, or simply making your small but mighty team even mightier. No matter your reason for expansion, growth is not easy. In fact, chances are the only time you’ll ever double your staff overnight is the day you make your first hire.

There are certain steps you can take to position your small interior design firm for the growth you envision and achieve your particular definition of success.

• Creating a sustainable system to manage work load
• Standardizing your firm’s operations and procedures
• Maintaining a reliable flow of new business opportunities
• Learning to say “no” to the wrong clients
• Pricing well and billing consistently
• Filling your team with the right people

As the head of your firm, are you ready to commit to treating your small interior design company as a business? If your answer is yes, here are the steps to help you achieve success.

Create a sustainable system to manage work load

First things first: you need some form of a practice management system. Whether you choose to set up a workable system on tools like Microsoft Outlook and OneNote or use more advanced software like Design Manager, be prepared to spend the time required to learn and set up it up.

If you really want to position your small interior design firm for growth, search out an option that addresses all areas of your operations, not just a few. Managing emails, documents and contacts is important, but also look for software that automatically tracks your activities without any manual time entry required from you or your staff, allowing you to get an accurate understanding of how you’re spending your days and recognize the true value of your time. Take time to evaluate exactly what your firm needs and find a system that solves your issues.

Standardizing your firm’s operations and procedures

Are you intimidated by the thought of standardizing your small interior design firm’s operations? Don’t be. The benefits well out-weigh the efforts and can cut down on the learning curve time for new employees as well as your time in training new hires.

Standardization of daily tasks makes it much easier for everyone at your firm to work with accuracy and complete tasks quickly.

Items that can be easily standardized:

• Firm-wide templates that you endorse. If you know each member of your team is using the same engagement letter and client memo template, you can rest assured that everything coming out of your firm is meeting your preapproved standards.
• How you manage your files. Having consistent rules about what gets scanned, put in binders or in files, and how documents and files get named, makes it easier for you and your staff to find what they need, when they need it.
• Consistent email practices. Set up and enforce consistent email management practices so that communication or a project doesn’t fall behind simply because one team member is out.

Event at Floor Styles

Maintain a reliable flow of new business opportunities

In order for your interior design firm to grow, you must have a steady and ideally, a progressively increasing, stream of new business opportunities even when you are busy.

So how can you ensure you have plenty of clients coming through your doors?

• Happy clients refer friends. If your clients are happy with the work you have done for them, they’ll are much more likely to refer friends to you.
• Develop referral networks with other professional offices. Other professionals often get requests for work in areas outside of their scope of work. If other professionals know you and believe in your work product, they’ll be more likely to confidently refer clients to you. You also return the favor for them. If you need to build up your referral network, consider attending events and using social media with that purpose.
• Don’t be afraid to market. Start by doing what you can do on your own like contribute to a blog, or if you have time, start your own. Or, speak at events likely to be attended by your target clients. Don’t forget about email marketing, it can have surprising results. Don’t hesitate to bring in a marketing expert if you need one. Marketing firms can help you create a strategy focused on building your reputation and growing your business.
• Ask for reviews. Soon after completing a project ask your clients to write a quick review on Google, or Yelp. A review on google can dramatically increase your search ranking; while also providing potential clients confidence in your work.

Just say “no” to the wrong clients

It may seem counter-intuitive to turn away clients, but defining your niche and sticking to it will ensure you grow intentionally and sustainably. If a potential client simply isn’t aligned with your expertise, just say no. Your firm will suffer if you are asked to constantly stretch outside of your comfort zone. When you turn away a client that doesn’t feel like a fit for your firm, consider referring them to someone better suited to their needs. You might end up with two happy people that may return the favor in the future.

Price well and bill consistently

Your time is valuable. Understand how you spend it, and then bill accordingly. Tracking time is no fun, but it’s the best way to make sure all of the work you do is accounted for and billed properly. If you are charging a client a flat fee, still track your time to help in pricing similar future work.

Don’t be afraid to bill for your time. Never sell yourself short. If you’re proud of the work you have done and believe in its value, your clients will as well.

With your tracking and pricing practices in place, get into the habit of sending invoices out each month. Clients not only prefer to receive smaller bills, but maintaining a regular rhythm for your billing will keep revenue coming in the door as well as allow you to accurately project profits and plan for growth.

Event at Kravet

Fill your team with the right people

How do you know who are the right people? Start by establishing your expertise and goals, and seek out the people who align with your principles. During interviews with prospective employees don’t forget to spend a little time discussing personal goals and work styles. Do the best you can. You’ll never truly know how well a person fits within your mission, culture, and goals until they come on-board and work with the rest of the team.

Do not feel obligated to make sacrifices for someone you discover is simply not the right fit. If you make a hiring mistake, let them go, and find the right person for the job. Hiring and training is a challenge, but your well-developed practice management and standardization methodology can take some of the pain out of the process.