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Selling Your Home? Make it a Summer Dream Home for Buyers

Selling your home in the summertime can be a great opportunity to attract buyers. Having your home “summer-ready” can increase the chances of it selling faster.

Searching for homes often increases just as schools let out and families have some extra time to begin the hunt prior to the next school year beginning.

As a seller, there are a few things you can do to create a summer-ready home that influences your buyers to step inside and stay a bit. The longer they stay when previewing your home, the greater likelihood that they’re considering making an offer.

Make sure your winter decorations are put away and stored. I know this sounds basic and maybe even amusing but there have been instances when lingering holiday decor still adorns some areas of the home. This may be charming to the homeowners but rest assured it’s not to prospective buyers. It’ll simply look like clutter.

Pull the heavy-duty winter rugs up. If you have beautiful flooring like hardwood, go bare for the summer months. Revealing well-kept floors can be a big plus. Rugs that lined the floors in the winter months can be packed up when you’re listing your home for sale in the summer months.

Make the home look like the season and match the neighborhood. If it’s bright and cheerful outside, invite that into your home by opening up the windows and letting natural light flow through. If there is one, let a cool breeze blow in or keep the air conditioner on so that it’s a comfortable temperature to tour your home. Nothing is worse than entering a home to preview and finding that you can hardly stay inside because it’s stuffy and blazing hot.

Tidy up the backyard. Sometimes a lot of attention is given to the interior of the home and the outside area gets overlooked. Remember, in the summertime especially, homeowners will be sure to check out your yard. Make sure that it hasn’t become a dumping ground or storage for all the stuff you’re trying to get rid of before you move. Instead, create a pleasant vision for your prospective buyers by setting up the backyard with cute outdoor furniture. If you have gardens, make sure that you keep tending them. Don’t let them get overgrown. The charm of a lovely outdoor space, large or even petite, will be appealing to most buyers, especially if they’re starting with one that’s already designed and maintained.

Clean your fans and vents and change the heating/air conditioning filters. If you’re not using or living in the home, the fans and filters can collect a lot of dust. Be sure not to overlook cleaning these things as a dirty ceiling fan can whirl off a lot of dust and debris when it’s turned on. It’s not a good way to start a showing by flipping a switch and having handfuls of dust flutter about the room. Cleaning and changing air conditioning filters takes only a few minutes, but the return is huge.

A few simple things can help you “summer-ize” your home so that the prospective buyers can’t wait to move into the home and enjoy the rest of the summer.

Written By Realty Times Staff

Source: https://realtytimes.com/consumeradvice/sellersadvice/item/36491-20150710-selling-your-home-make-it-a-summer-dream-home-for-buyers?rtmpage=null

March 7, 2019   No Comments

Why an Economic Slowdown Will NOT Crush Real Estate this Time

Why an Economic Slowdown Will NOT Crush Real Estate this Time

Last week, the National Association for Business Economics released their February 2019 Economic Policy Survey. The survey revealed that a majority of the panel believe an economic slowdown is in the near future:

“While only 10% of panelists expect a recession in 2019, 42% say a recession will happen in 2020, and 25% expect one in 2021.”

Their findings coincide with three previous surveys calling for a slowdown sometime in the next two years:

  1. The Pulsenomics Survey of Market Analysts
  2. The Wall Street Journal Survey of Economists
  3. The Duke University Survey of American CFOs

That raises the question: Will the real estate market be impacted like it was during the last recession?

A recession does not equal a housing crisis. According to the dictionary definition, a recession is:

“A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.”

During the last recession, prices fell dramatically because the housing collapse caused the recession. However, if we look at the previous four recessions, we can see that home values weren’t negatively impacted:

  • January 1980 to July 1980: Home values rose 4.5%
  • July 1981 to November 1982: Home values rose 1.9%
  • July 1990 to March 1991: Home values fell less than 1%
  • March 2001 to November 2001: Home values rose 4.8%

Most experts agree with Ralph McLaughlin, CoreLogic’s Deputy Chief Economist, who recently explained:

“There’s no reason to panic right now, even if we may be headed for a recession. We’re seeing a cooling of the housing market, but nothing that indicates a crash.”

The housing market is just “normalizing”. Inventory is starting to increase and home prices are finally stabilizing. This is a good thing for both buyers and sellers as we move forward.

Bottom Line

If there is an economic slowdown in our near future, there is no need for fear to set in. As renowned financial analyst, Morgan Housel, recently tweeted:

“An interesting thing is the widespread assumption that the next recession will be as bad as 2008. Natural to think that way, but, statistically, highly unlikely. Could be over before you realized it began.”

Written By KCM Crew

Source: https://www.keepingcurrentmatters.com/2019/03/07/why-an-economic-slowdown-will-not-crush-real-estate-this-time/

March 7, 2019   No Comments

How to Create a Cohesive Color Flow Throughout Your Home

Color preferences vary as much as personalities. Some folks love the bright and the bold, while others feel most secure surrounded by neutrals. The good news is that when it comes to color, there really is no “correct” palette.

That said, we’ve all been inside homes where an explosion of color created a choppy feel between rooms — and sometimes, the urge to run. A great way to avoid this result is to hire a designer or color consultant, either to guide your entire remodeling or decorating project or simply to advise you on the best colors for your spaces. We asked pros to share their tips for creating a cohesive flow of color throughout a home. Read on to find out what they said.

For a Well-Designed Look, Hire an Expert

Designers have studied color and can offer invaluable guidance when you’re decorating or remodeling. You can hire one to take your project from start to finish, or simply as a consultant to troubleshoot a specific area like tweaking your home’s palette so that the colors flow well throughout your home.Porter, who does a lot of color consultations, says her clients tend to know what color they want to use but need validation that the shade they are considering will produce the desired effect. Recently, she did a long-distance consultation with a client who passionately loves orange. “The colors she was telling me about were very bright and childlike,” Porter says. The designer suggested a more adult rusty orange instead. “She tried it and loved it,” Porter says.Tell us: Have you achieved a great color flow in your house? What tricks did you or your designer use? Share in the Comments.
Written By Erin Carlyle
Source: https://www.houzz.com/magazine/how-to-create-a-cohesive-color-flow-throughout-your-home-stsetivw-vs~66922903

March 5, 2019   No Comments

Simple DIY Projects That Will Increase the Value of Your Home

Looking to boost the value of your home without spending hundreds of thousands of dollars? You can! Making changes in certain rooms, like the kitchen and bathroom, is more beneficial than in others. These simple DIY projects will help increase your home’s value the most.

Modernize Fixtures

Replacing outlet covers can cost less than a dollar each, but if they have paint or other things on it, it’s a good change. While you’re at it, consider updating the outlets themselves. For about $25-$30 you can buy an outlet that also includes two USB charging ports. With all the smartphones, tablets and other electronic devices lying around, just a few of those, well-placed, can make a big difference. Think about the rooms in your home that don’t have enough outlets and the rooms that are most used for charging.

A less expensive upgrade? Doorknobs. Mismatched, broken, and dingy doorknobs can be a major deterrent. For a small amount of money per knob, you can update the look and make the whole house more visually appealing.

Lighten It Up

The more light you can add to your home, the better. Freshening up or removing curtains can brighten your home and make it more inviting.

Replacing windows is also a great way to add value to your home, particularly true if you live in an older home that has a lot of windows that stick or that let in the heat or cold. Installing energy efficient windows can also get you a nice tax break. However, poorly-installed windows can let in water, which can lead to mold and cracked foundations, so this isn’t for everyone.

Old light fixtures, or light fixtures that are dim or unappealing should be replaced to brighten the house.

Makeover the Bathroom

Bathrooms consistently get a high return on the investment. If you have a small budget and you’re DIYing, start small. A new vanity. New sink. A nice ceiling light. A spa-like shower head. A nice towel bar. None of these things have to cost over $100, but they all add value to your home by freshening it up, providing simple conveniences, and making it nicer. Who doesn’t want one of those fancy shower heads?

If your bathroom floor is falling apart, suffering from water damage or is just outdated, you can restore it yourself pretty inexpensively. Many home improvement stores offer a class so you can learn what you don’t know, which might enable you to choose a more expensive flooring. Stick with a neutral shade to add the most value.

Freshen Up the Kitchen

The kitchen is one of the biggest things that will turn potential buyers on or off to a house. It’s also one of the places where you can get the most money back for your investment. What’s the single best DIY change to make in the kitchen? A fresh coat of white paint on the cabinets. Go ahead and change out the knobs, too.

Storage is another change to consider. Add more shelves, possibly with space underneath to hang coffee mugs. Kitchen islands are in demand now and building one with storage will add value.

Keeping Up on Maintenance

A home in good repair is always going to be more valuable than one with a leaky roof. If the siding is old or falling apart, replace it. Consider getting a home warranty, to ensure the value of your appliances. Also make sure to maintain the appearance outside, sweep up the leaves, trim the bushes, and keep fences in good repair.

Adding value to your home doesn’t have to be expensive or difficult. Sometimes, the simplest DIY can be the best place to start. Start by considering your budget and your home’s most pressing needs, and update from there.

Written By Damien Justus

Source: https://realtytimes.com/consumeradvice/homeownersadvice/item/1002051-20170509-simple-diy-projects-that-will-increase-the-value-of-your-home?rtmpage=null

February 18, 2019   No Comments

Top 10 Most Expensive Mistakes You’re Making on Your Home

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Homes cost a lot of money to maintain. But are you spending extra money unnecessarily on upkeep? Here are the 10 most expensive mistakes you could be making in your home.

1. Using Traditional Light bulbs

If you still have incandescent light bulbs in your home, you could be throwing a lot of money away every month on inflated electric bills. Over its life span, an incandescent bulb can use $180 worth of electricity. A CFL will only use $41 worth of electricity over the same time period. Even better is the LED bulb, which only uses $30 per bulb. Think what replacing every light bulb in your home could do to your home’s bottom line.

2. Ignoring a Leaky Faucet

A leaky faucet that drips one drop per second can waste more than 3,000 gallons per year, which is enough water to take more than 180 showers. Some of us live in areas where water is plentiful, but for those of us in areas plagued with drought, this could be costing you a fortune. Fix or replace your leaky faucet and save a ton on your water bill.

3. Using the Wrong Air Filter Size

We all sometimes forget to change out the air filters for our HVAC systems or accidentally buy the wrong size. But using the wrong filter or a dirty filter can increase your power bill and cause expensive problems for your furnace down the road. Use the correct filters for your system, and set a reminder to change them after the recommended amount of time. You won’t regret it.

4. Not Customizing Temperature

Invest in a customizable thermostat. If you’re away at the office all day, you can program your heater to shift down a few degrees while you’re gone and then shift back up shortly before you return home. Heating or cooling an empty home wastes a lot of money in energy costs.

5. Not Adjusting Air Vents Properly

Is one room in your home hot, while the others are cold? Oftentimes homeowners will crank up the air conditioning in the whole house to combat hot temperatures in one area. Instead, adjust air vents to direct the flow of air more evenly throughout your entire home. Professionals will come regulate this to ensure that your entire home is receiving the same amount of air conditioning or heating.

6. Over Watering Lawn

Many homeowners have their sprinkler systems programmed to come on in the early morning hours for optimum lawn health. This can become a problem, however, if you’re never around to see what you’re actually watering. A broken sprinkler head could be causing a fountain, or the trajectory of your sprinkler may be directed at a fence instead of your lawn. Periodically run your sprinklers during the day so you can see how they are performing when you’re not around.

7. Water Heater Temperature Set Too High

Unless you have a tankless water heater, your water heater is keeping the water in its tank hot 24/7. If you don’t keep an eye on the temperature as each season changes, you may be paying too much to heat your water. Decrease the temperature in the summer, and bump it back up when winter comes.

8. Leaky Windows and Doors

Leaky windows and doors are great places for cold, winter winds to enter your home. Many homeowners simply ignore them and crank up their heaters. Caulk leaky windows and put rubber seal around doors to keep winter winds out and warmth in.

9. Paying a Handyman

Don’t pay a handyman for a job that is simple enough to do yourself. If you’re unsure of how to do something, look up video tutorials online. Doing simple tasks yourself can save you a lot of money.

10. Ignoring Curled Shingles

It may be easy to ignore problems on your roof, but it will only lead to bigger problems later. If you see any possible issues with your roof, repair them as soon as possible, as this will save you significant costs later.

Use these 10 tips to cut maintenance costs on your home today.

 

Written By Cary Teller

Source: http://blog.rismedia.com/2016/top-10-expensive-mistakes/?utm_source=newsletter&utm_medium=email#close

February 15, 2019   No Comments

Financial Don’ts When Getting Ready To Buy A Home

If you’re in the process of buying a home, you’ve probably already met with a lender who advised you on what to do and what not to do during the escrow process. But if you’re just getting ready to buy or plan on doing so in the near future, following a few financial tips can mean the difference between qualifying…and not, and also getting a decent rate. These are a few universal “don’ts” that will help you stay on track, even before you get a lender involved.

Don’t take out more credit

If you’re thinking you’re going to buy a house in a matter of a few months, forget that new laptop on the Best Buy card, forget that new car, and forget that Old Navy card. Sure, it’s only a $30 pair of pants. But, taking out more credit can harm your debt-to-income ratios, which can make you look like a credit risk. And that’s not worth it, no matter how cute the pants are.

Don’t pay off all your current credit cards

Your lender will tell you specifically what you should pay down and what you should leave alone, but banks tend to like responsible credit management. In some cases, that may mean carrying a small balance on one or more cards.

Don’t charge up all your cards to the limit

“Responsible credit management” does not mean running every available card up to the limit and/or only making minimum monthly payments. Banks will not look kindly on this when you go to get approved for a loan.

Be careful with old debts

You may think that in order to qualify for a mortgage or get the best possible rate you have to pull your credit and go back through every single entry to identify and take care of anything negative. You’re right about the first part. Pulling your credit so you know what you’re working with is critical, and financial experts recommend doing it annually, regardless of what you’re planning (or not planning) to buy. But be careful with old debts. It doesn’t hurt to ask a lender what should and should not be taken care of. But, in general, you’ll want to:

Pay in full instead of making settlement arrangements – It’s not uncommon for debt collection companies to send out settlement offers that allow you to settle debts for less than the total amount. While this can sound tempting, it likely won’t yield the results you’re looking for. Yes, it’ll stop the harassing phone calls and persistent letters. But if your goal is to get the debt to disappear from your credit report, you’ll be disappointed.


http://www.croninhomes.biz
“When you settle your debt, the activity usually shows up on your credit report as ‘debt settled’ or ‘partial payment’ or ‘paid in settlement.’ You can talk to the settlement company about the specific language they use, but the bottom line is: this is a red flag on your report,” said clearpoint. “FICO doesn’t reveal how much your score will drop, exactly, and your report doesn’t indicate how much of the original debt was forgiven; it simply shows you settled. Either way, it still points to the fact that you may be a credit risk.”

Stick to newer debts – Older debts that are getting close to falling off your report should be the last thing you pay. “You also want to consider the statute of limitations on your debt,” they said. “Most past debts remain on your credit report for seven years, so if you’re close to the time frame when the debt falls off, settling it may not make much of a difference. There’s an ethical argument to be made here, but practically, you might just be settling a debt that was about to disappear anyway.”

Be careful with debt consolidation

If you have a lot of outstanding debt, are in over your head with credit cards and store cards, and can only manage the minimum monthly payment on all your existing loans, you’re likely going to have a hard time qualifying for a mortgage. You may be tempted to lump your debt together into one payment through a credit consolidation company, but beware the consequences. There may be startup fees, interest rates on the consolidation loan could skyrocket after an initial teaser rate expires, and, in some cases, an improvement in credit is years away.

Don’t get lax with your payments

Your lender will reinforce this, but it bears repeating that even after you’ve been prequalified, you need to keep your payments current on your car, your Visa, etc. Your lender will do a recheck before closing just to make sure nothing has changed in your credit report, and if you have new issues, it could impact your loan.

Don’t move money around

“We know a story of one homebuyer who almost lost his home because he had stated on his application that the down payment was coming from a mutual fund account. Then, two days before closing, he decided to sell a baseball card collection instead,” said HSH.com. “The loan had to be underwritten all over, his ownership of the collection, its value and its sale had to be verified, the closing was delayed and the fees increased.”

Don’t change jobs before you buy your home

This is a big no-no don’t if you’re in the process of buying a home or are about to. Among all the other financial information your lender will be collecting in consideration of your loan, they will also be asking about your employment history. You’re obviously less likely to be approved if you’re unemployed (unless you’re independently wealthy, and, in that case, Congratulations!). A recent job change may also be problematic if the bank is feeling jumpy about your job security

Written by Jaymi Naciri

Source: https://realtytimes.com/consumeradvice/mortgageadvice/item/1005579-20170928-financial-donts-when-getting-ready-to-buy-a-home?rtmpage=null

April 9, 2018   No Comments

5 Reasons Why to Sell This Spring!

5 Reasons Why to Sell This Spring!

Here are five reasons listing your home for sale this spring makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory has declined year over year for the last 32 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.

Historically, the average number of years a homeowner stayed in their home was six but has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the average time it took to close a loan was 45 days.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!

Prices are projected to appreciate by 4.8% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on With Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Written by KCM Crew

Source: https://www.keepingcurrentmatters.com/2018/03/26/5-reasons-why-to-sell-this-spring/

March 27, 2018   No Comments

Renovation Tips For A Classic, Not Trendy, Home

Here’s the dilemma. You’re getting ready to redo your kitchen and you want it to be stylish and modern but not trendy. After all, this is the only kitchen renovation you ever plan to do and you don’t want it to be outdated before you are even finished with the final touches.

If you’re paralyzed because you’re afraid of making the wrong decision, we get it. We’re facing a similar dilemma here, FYI, with floors that need to be done and so many options from which to choose and no winner (yet) because it’s not yet clear if what is currently hot is just a flash in the (floor) pan or will stick around for a while.

So how do you know how to choose? First, it depends on what your goals are. If you’re just looking to update and then sell your house, choosing materials that are trending now may be a good call. If you’re thinking, “I want to love this and have it still look good in 10 years,” that’s another story.

“You’ve probably taken on a renovation project because you want to update the style. While you’d like to give your home a modern look, choosing a short-lived style or personal design is a major fail,” said HomeAdvisor. “While a trendy design is sure to make your home stand out, it’s also going to quickly go out of style. This is a big problem if you want to resell your home in the future. Modernize the look of your kitchen or bathroom, but avoid bold styles that only appeal to those with specific tastes.”


nytimes.com
Go neutral

Yes, neutral can be boring. It’s true. (It can also be super chic when done right.) Making a bold choice with your kitchen countertops might feel like the right way to go right now, but you may turn around in a couple years and regret that choice, especially if you’re going to try to sell your home. You can always bring in pops of color with accessories or items that are easier to replace or redo.

For the last several years, grey has been the go-to color for homes. Prior to that, it was beige – a color that is currently seeing a resurgence even though grey is not gone – yet. Black and white is another currently hot option for color schemes, and, the bonus is, “black and white remains a classic combination,” said HGTV. Certain colors will never go out of style – House Beautiful has 10 of them. But remember that no matter what color you choose, it’s not permanent. Painting is one of the easiest ways to update your space and change the mood whenever you like.

Just keep in mind that high ceilings and other architectural features may make a DIY situation un-DIY-able and may make a redo more expensive because you have to hire someone. Key in on walls that don’t soar to a pitched ceiling or that can act as a focal wall for high-impact that’s easy to accomplish yourself.

Be smart about your kitchen

You may have a desired look cemented in your head for your kitchen, but are you making smart choices? Shaker cabinets, farmhouse sinks, and marble countertops are a few good options if you want something that looks modern but “will stand the test of time and still look as beautiful twenty years from now as it does today,” said Apartment Therapy.

Go eclectic with your furniture

An entire house full of mid-century modern furniture can begin to look like a showroom, and when the trend is over, it can be painful to replace it all. Creating a more eclectic look with an eye toward classic pieces creates staying power. Adding in a vintage piece or two can add another important layer. “A design rule that’s sure to remain true? Every room in your home needs a unique vintage piece,” said HGTV. “Even in newly-decorated spaces, distressed or worn pieces create a collected, designer look.”

Avoid hyper trends in larger items

Drapery, rugs, and bedding can be easily changed out to accommodate your fickle design taste. But when it comes to the larger pieces in the home – a couch or a set of chairs, perhaps, avoiding trends will give you longevity. “Timeless decor means fabrics that will stand up to years of changing trends! They transcend those changes,” said Stone Gable. “Don’t rush out and buy foundational furniture in the ‘color of the year’! It’s only the ‘color of the year’ for one year! Choose colors and patterns, especially when buying big ticket items, that will still look amazing when this year’s trends have come and gone. Add layers of accent decor like lamps, art, tableware, pillows, bedding, etc. in more updated colors and styles. They can be changed out easily when they get tired or are out of style.”

Written by Jaymi Naciri

Source: https://realtytimes.com/consumeradvice/homeownersadvice/item/1015236-20180219-renovation-tips-for-a-classic-not-trendy-home?rtmpage=null

February 27, 2018   No Comments