Updates To Consider Before Listing Your Home For Sale

Selling your home always involves a lot of planning and things to take care of before actually putting it on the market. There may be some maintenance issues that you know you need to tackle first, but you may not be aware of some bigger picture things that can make a big difference in the price you can get for the home. Here are some pointers on things you can address that can increase your home’s value.

Exterior Updates

The exterior of your home is the first and last thing everyone will see so you want to make a good first and lasting impression. Some ideas to consider upgrading include siding, gutters, windows, roof or even just the front door. Some of these items can be bigger ticket items but if they are in need of repair, then it is best to address them before listing.

Flooring

Flooring can also make or break an impression. Worn floors or older, compromised carpeting can make your home look tired or even dirty. Definitely consider addressing any rooms that have flooring issues such as these. Redoing hardwood floors or even upgrading carpet to some of the great laminate options of today can be a good idea.

Painting

One of the best and simplest ways to freshen up your home is with paint. Go room by room through your home and make sure all walls are in good condition. For any rooms that have dirty or scuffed walls, repaint them with a lighter and neutral color. This will appeal to the masses. 

Kitchen Updates

The kitchen is always the heart of the home and is where so much value is placed. If your home is older and outdated, consider some upgrades to modernize it. Ideas include replacing or painting cabinetry or even just doing the counters and hardware. Sometimes some simpler upgrades like new appliances can be just enough to entice buyers so they know immediate renovations will not be necessary. 

Decluttering and Staging

Even if your home is newer and all things are updated, decluttering and staging is typically necessary on some level. This means getting rid of anything personal like family photos and the like as well as making sure all rooms are arranged for their intended use. For example, guest rooms should be set up with a bed and furniture rather than work out equipment and a catch all space. Show off the home’s true potential so all buyers can envision using it best and see how it caters to their lifestyle. 

4 Home Updates To Tempt Buyers

As your trusted real estate resource, we know that if you are currently a homeowner then you know how to think like a buyer. When it comes time to sell you will have a good understanding of what buyers will be looking for as you went through the very same thing when you purchased your home. While you probably know your property’s strengths and weaknesses, here are several key things you can check for when looking to make it more valuable to buyers.

Kitchen Upgrades

Without going too crazy there are some creative ways to add some value to your kitchen. New cabinet hardware can help update the look along with resurfacing the cabinets with a brighter color. Adding or replacing a dated backsplash is also a great trick for a lower cost. Combine that with getting a modern faucet for better look and function. 

Bathroom Upgrades

Most importantly bathrooms should always be fresh and clean with no mildew, mold or water damage so be sure to repair and paint if necessary. Next, for older bathrooms consider replacing the vanity and faucet for one that brings it into modern times. Finish it off by getting some new shelving for towels or regularly used items that are nice enough to display.

Upgrade The Appliances

Most buyers will first consider your home for its price, then when they tour it will be making notes about any costs associated with not only what they want to do, but will have to do for updates. Older, inefficient systems or appliances will certainly be on the list as they have both replacement and operating costs. If any of yours are on their last legs, it might be a good idea to replace them with models that are energy efficient.

Audit The Exterior

As it is the first and last thing all buyers will see, make sure nothing stands out as being neglected or needing repair. Trees and shrubs should be well pruned, paint should be in good condition and your front entryway should be nice and welcoming. A fresh coat of paint on the front door coupled with a new doormat and potted flowers can usually do the trick to set the stage for a clean and updated home. 

8 Things To Do After Closing On Your Home

When you have gone through the home purchase process and finally closed and gotten the keys, then it is important to consider some next steps. Before you start redecorating and planning your housewarming party, be sure you get down to some essential business first. Here are some things you will want to be sure you take care of.

Insurance

For anyone who has a mortgage, homeowners insurance (and possibly flood insurance) will be mandatory. However, make sure you don’t forget about your contents too. Speak with your insurance agent and see if you can even do a bundle plan with your automobiles too and save.

Change The Locks

You never know who the previous owner has lended keys to. Maybe friends, old tenants, repairmen, etc. so have some peace of mind and change the locks so you know only you have access to your new home. The same idea goes for any keypads or door codes as well - give those an update too.

Change Your Address

You may have thought ahead to change your address at the post office, but you will still need to manually change all of your other important information too such as credit cards, drivers license, etc. Make a checklist and run through everything so there are no issues down the road.

Clean and Fix

As soon as you receive the keys, do a deep cleaning and take the opportunity to repair anything that may need fixing. Moving into a clean and turnkey home will make things go so much smoother.

Create a Maintenance Plan

Make a plan with dates for all of your important maintenance items. This should include things like HVAC filters, smoke detector batteries, pool filters and the like.

Check Security

Does the new home have a security system that you can easily activate? Maybe doorbell and property cameras? Find out what is there and what you may want to add. Pro tip: check with your insurance company on potential savings as monitored security systems can potentially save you on homeowner’s insurance.

Meet The Neighbors

It is always a good idea to know who is living around you. This way you and them both can keep an eye on each other’s homes for any suspicious activity. 

Get Familiarized

Take some time to get familiarized with the new home. Be sure you see where the electrical panel is for any potential problems, inspect the HVAC system and how to operate all appliances and the like. Figure this all out from the get go and avoid any future headaches.

6 Reasons Why Real Estate Is a Good Investment

These days when someone wishes to build equity and wealth there are several options to choose from. From stocks and bonds to real estate there can be a lot of decisions to make on what makes most sense to invest your money in. However, many people build wealth using a basic asset they own like owning an additional property. Let’s examine why real estate can be a great investment and how it can help you build your wealth.

Cash flow

When you invest in real estate you can generate steady cash flow when you are collecting money by renting the property out. To calculate this, add up your gross rents and then deduct your expenses including things like mortgage payments, taxes, insurance and maintenance costs.

Great returns

A long term real estate investment can have some fulfilling returns. Appreciation over time has historically earned many people some substantial equity. Always choose the right location of course so that your property will always be in high demand. This should help lessen any losses.

Long term security

The long term security of real estate can make it a great investment as time goes on. Also, you are not just waiting for your real estate investment to appreciate in value. Instead, you are renting out the property today and collecting money every month that you have paying tenants. It is a win-win!

Tax advantages

One of the best advantages to owning real estate are the tax benefits. Per the IRS guidelines there are expenses you can deduct from your taxes that include things like mortgage interest, property taxes, operating expenses, repairs and depreciation.

Leverage funds

Many investors will buy their first investment property by taking out a Home Equity Line of Credit (HELOC) on their primary residence. Lenders typically allow homeowners to borrow up to 80 percent of their dwelling’s value so they are using their equity gained rather than using other available financial resources. It’s a prime example of having your money work for you.

Inflation protection

Investing in real estate can also provide some great protection against inflation. Inflation raises the price of goods, but it also raises wages. Since wage growth is tied to rental prices, you can increase the rent on your rental properties once the current leases come to expire/renew every year.

Best of all with real estate investing, you are your own boss and control everything. While it may come along with management responsibilities and the like, you are in control of your own destiny.

A Guide For Kitchen Design and Renovating

Remodeling your kitchen can be an undertaking especially if it is your first time designing and doing a renovation project. The kitchen is also the heart of the home where so much time is spent and so much focus is given when determining the value of the home. Before you begin planning out your kitchen space, here is a helpful guide on the important steps to take.

Planning The Project

The first place to start is to do some overall planning. This means create a budget and decide on the kind of look you want and what things you are looking to incorporate into the design. Prioritizing your wants and needs will also help you stay within your budget. 

Decide on Layout

The most popular kitchen layouts are U-shaped, L-shaped and galley. Your existing space will somewhat play a role in this but you will also have to decide on your preferred style and how you can most efficiently lay out your kitchen for a proper workflow. Consider how you will entertain as well, like would a large island with dining options be a good choice?

Select The Cabinetry

Cabinets play a large role in the design and functionality of your kitchen. Consider the materials, style, and color you want to set your design with. Custom cabinetry gives you more control but at a higher cost. Semi-custom options still offer some design options but at a cheaper cost.

Choose The Right Appliances

Here is where you consider more of your wants and needs. First consider what quality line of appliances you wish to go with. Do you need the Viking range or will a top tier appliance package from popular brands such as GE or Samsung do? Then consider what actual appliances you want. Will you choose a sleek drawer microwave for your island or a matching wine fridge for your collection?

Hire a Reputable Contractor

A contractor plays a vital role in designing and renovating your kitchen. You want to hire a reputable one who has plenty of experience and a proven track record. Always ask for references and view their portfolio before hiring them. A good contractor will help you stay within your budget constraints, ensure quality, and circumvent any unexpected issues that may arise.

The Dos and Don'ts During A Move

Some of us move more frequently than others, but all of us know that moving day can be a lot to deal with. You need to do some planning, packing and it can be tough to know exactly what you need and what you don’t. Here is a guide so you can be efficient and save where you can. 

Use The Right Materials

Using the right materials for packing can save you on many things including frustration, stress, time and even money! Be sure you have enough boxes, bubble wrap, packing tape and paper so that you can properly protect all of your valuable items and safely relocate them to your new home without damage.

Don’t Purchase Unnecessary Items

Do your best at quantifying how many boxes and materials you will need. Another great way to save money is to ask local stores and supermarkets for boxes that they no longer need. As a substitute for expensive packing materials, you can use old newspapers, bed sheets, and towels to wrap and protect your belongings. 

Organize and Minimize Clutter

There is no better time to start pairing down your belongings that you don’t need than during a move. Rather than packing 100% of all of your things, be a little discerning in the moment and start doing a purge. If there are things stowed in your closets that you almost never use or haven’t in over a year, perhaps it is time to sell, donate or just throw away. There is no sense in moving things that you don’t need.

Don’t Move Broken or Damaged Belongings

Similar to anything you don’t use or need anymore, don’t pack anything that is broken or damaged. Do an inspection of all of these things ahead of packing and place all of these things in a designated area. Have a pile for trash, one for donations and one for sale if there is any value. 

Hire Professional Movers

Moving is challenging enough with all of the planning and packing and you don’t have to do it all alone. If you have friends and family that can help, that is one thing but sometimes it makes sense to leave the big job to professionals. Especially if you have a substantial amount to move or own things of significant value then it may make sense to pay those who are experts. That will take the guesswork out of what you need, maneuvering a large truck and offering peace of mind during the already stressful process. 

Four Things To Consider When Making Your Best Offer

Are you in the market to purchase a new home soon? While the market may have had a correction making it more balanced than in recent years, we are still in a seller’s market. Given the competitive landscape that still exists for some buyers, here are four helpful tips to think about when you submit your offer. 

Consult Your Real Estate Agent

An experienced realtor like ourselves will have the knowledge and experience to best guide you through the offer process. Work on establishing your goals and allow your agent to help you get there. There can be some strategy to weave in when you want to have a successful offer. 

Know Your Budget

Every buyer must be prequalified before starting the offer process. It is important to know your budget, be clear on what you can afford to spend and clear what a lender will give you in the way of a mortgage amount. You should also have a regard for other important expenses such as insurance and taxes so you know the amount that is comfortable for you to afford. 

Consider Everything Before Submitting Offer

The market today is not quite as fast paced and red hot as it was in recent years. This means you may have a little more time to consider what is important for you to have when you are writing your offer. You might have more negotiating power these days than before so chances are you could ask for more of what you want rather than what you think the seller will take. Consult with your agent for the best strategy for the particular property given the local market conditions.

Negotiate Leveraging Agent’s Expertise

There are more things to negotiate than just the price of the home. It is less common for buyers to skip a home inspection and not ask for concessions from the seller nowadays where the landscape has changed, but you can still consider negotiating the deal in other ways. These include things like offering optimal closing dates for the seller for you to agree to. Consult your real estate agent for ideas on attractive ways that you can craft your particular offer with. 

How To Build The Ideal Outdoor Kitchen

Everyone wants to fully enjoy the use of their homes nowadays and who doesn’t wish to spend some of that time outdoors? Having a nicely outfitted outdoor space will be an extension of your living space which is certainly handy when you have those get-togethers this summer. Here are some helpful pointers if you want to create the perfect environment for dinner parties and cookouts.

Establish your budget

Just like any home project, you will need to establish your budget and then go from there. Creating an official outdoor space like this will certainly add value to your home so figure if you will be using savings or maybe a HELOC to help you afford the improvement. Then solicit some estimates to see if it falls within your budget.

Select the location

One of the first logistical steps is to pick the right location. Things to consider should be proximity to your home for any necessary utilities as well as a spot that will be accommodating for enough room and comfort. Have a consideration for the elements as well. You won’t want an outdoor kitchen out in the direct blazing sunlight.

Design the layout

Once you have picked the right spot then comes the actual design and layout. Be sure to factor in plenty of pace for preparing, cooking and dining. Outdoor kitchens are a different animal where you don’t have walls which means you need countertops and furniture to define the space. Will it be L shaped, U shaped or a simple larger counter? If you have the space then you can consider combining your dining with the cooking counter.

Choose quality appliances

Depending on the design that you choose, cooking appliances will be key with defining your space. High-quality appliances are the heart of your luxury kitchen somewhat similar to your indoor kitchen so pick the right appliances to be an extension of your cooking habits, interests and your taste. The most common outdoor kitchen appliances are typically grills, pizza ovens, side burners, refrigerators and sinks.

Select cabinetry and furniture

To add value to your luxury outdoor kitchen, build in some creative storage options and high-quality furniture. Common outdoor cabinet materials include stainless steel and PVC for their durability and aesthetic. The summer sun will never fade HDPE cabinets, keeping them chic for longer for a wise material choice. Outdoor patio furniture will work well for your outdoor kitchen space using weather-proof chairs, stools or couches to maximize entertainment, dining and relaxation. Having an outdoor kitchen table will act as the perfect setting for parties, events or family dinners.

Once you have done all of these things, now it is time to enjoy!

Ideal Summer Home Improvement Projects

Summer is the ideal time to tackle those home projects that you have been procrastinating on. Whether you are a long time DIY-er or just getting started you can do many projects yourself that will make your home that much more enjoyable while you save money. Here are some ideas of top improvement projects that you can do yourself this season. 

Landscaping

There is no better time to start improving your landscaping than during the summer. Make a more inviting area by planting colorful flowers and shrubs. Perhaps interesting seasonal plants that are in pots or hanging baskets to liven up your patio or entryways. For larger yards consider some mulch or stone gardens to add interest and sustainability.

Painting

Summer is a great time to do some exterior painting of your home. Warm and dry conditions are best for the paint to dry without any issues. Select a modern color that will go well with your home’s style to give it some life. A fresh coat of paint can not only boost your home’s curb appeal but can add value if you are looking to sell in the near future. 

Deck/Patio Reno

The summer season means an extension of your living space outdoors so spruce up those patios and decks! Consider a fresh stain or seal on that deck or an upgrade of pavers to that patio. Add some new furniture pieces and maybe some exciting solar lighting to create a cool and comfortable atmosphere.

Kitchen Upgrade

The summer season often means more gatherings and kitchens are where that happens. A kitchen renovation project can be the perfect solution to transform an outdated or uninviting space into a comfortable and functional heart for your home. Go smaller and just do some paint and new counters or go big if need be and do all appliances and cabinets too. The kitchen is one of the most important rooms of the house and you can realize the majority of the investment when it comes time to sell as well.

Bathroom Refresh

Just like a busy guest season for kitchens, those same people are going to need to visit your bathrooms. Choose to go simple and freshen paint, linens, hardware and fixtures to transform on a smart budget. A bathroom refresh can be a great way to give your space a new look without breaking the bank. 

Saving For A Down Payment Versus Retirementent

Saving up for a down payment for a home can feel like a painstaking hurdle for many. After you pay taxes, put aside for retirement and cover living expenses it can feel like you don’t have much left to build a sizable amount. This may have you looking at reducing costs here and there and maybe even consider lowering your contribution for your retirement. Here is a breakdown on whether that is the right choice for you.

Retirement Logistics

There are some important factors that you will want to consider if you debate lowering your retirement contribution.  First, you will want to think about your age, where you are in life and your tax bracket. Depending on how many years you have left until retirement and how much you have saved, it may be better to alter your lifestyle and spending instead. Next you should also think about if you have an employer match situation. If your employer is matching your contribution, you may only want to dial it back to the max of where your employer is matching as it is essentially free money. Finally, definitely see about any ramifications if you lower your contribution enough where it pushes your income into the next tax bracket. That situation would also be less beneficial to you in the end.

Other Financial Considerations

When you weigh your options with how to achieve your down payment goal, you may want to reassess how much house you can comfortably spend. It is one thing to reduce your contributions just for the down payment, but if you are planning on buying a more expensive home, then your housing costs could potentially keep you from resuming with your higher contributions. Take a good look at the financials with a mortgage calculator and be sure to factor in taxes, insurance, any HOA’s or PMI costs as well. 

Finally, in the end the big question is just how much do you need for a down payment? The amount of 20% is often what everyone thinks is necessary as you can avoid PMI. However, the reality is that there are many different loans and programs out there where even as little as 3% are possible. Researching your home loan options will help dictate what is best for you and ultimately how much you will need to start saving. 

How To Stage Your Home Properly

Getting your home for sale can involve a lot of planning. It is not often that everyone’s home at any given time is in perfect condition where it is ready to be listed on the market for sale. However, the good news is that you don’t always have to do significant remodel jobs to get it to the point where it is ready for buyers to see. Staging can be a fantastic and economical way to enhance your home as you make it look its best for buyers. Here are some great staging how-to tips. 

Curb Appeal

As your home’s exterior is the first and last thing all buyers will see, make sure it looks great. Have your lawn, flower beds and pathways all looking tidy. Consider some updated house numbers and a fresh coat of paint on that front door as well. 

Foyer

The next welcoming area is your foyer. Keep this neat with coats on racks and shoes stowed away. A nice flower arrangement on a vestibule table can add some color and life.

Declutter And Store

Visit each room and minimize all of your personal belongings. Be sure to also limit the amount of decorating items as well to make your rooms appear large and accommodating. The same goes for your closets and storage areas. If these are packed to the gills they will seem smaller. A storage unit for things as you pare down can also be helpful.

Clean

Don’t just do a regular run through cleaning, do a deep cleaning. That means wipe down the inside of the cabinets, closets, behind toilets, under sinks and behind/under furniture. Don’t forget the importance of cleaning the windows too!

Function

Be sure to have each room arranged as it is intended. For example if it is an eat-in kitchen, put the table and chairs in it. If it is a guest room, put the bed back in and move that exercise stuff to the side.

Easy Updates

Make sure you repair anything that is clearly broken. If there are any small cracks, fix and paint them so nobody is questioning if there is more to the story. Do you have broken door hinges or loose cabinets? Take a few moments to address these issues so buyers don’t get the sense that there could be more deferred maintenance than what they see. A coat of fresh paint can really go a long way at a small cost too.

Neutralize

Go room by room and take away anything that is personal. Any photos, awards, collections and personal items such as blow dryers, makeup caddies, etc. should all be put away neatly. Offer a clean slate for any buyer to easily picture themselves living in the home as if it were already theirs.

Evaluate With Friends

Finally, put your work to the test. Invite over one or two of your most honest friends that may have a discerning eye. See if you may have overlooked anything that they feel should still be tended to. Sometimes when we look at something every day, we may not see it as much as the fresh eyes of a visitor.

5 Tips For Making Homeownership a Success

Homeownership is rewarding in several different ways. You can live in the home as it is or change the home to be exactly the way you want it all while building equity over the years. However, it also comes with big responsibilities. Repairs, maintenance and upkeep are all your responsibilities and sometimes things arise when you least expect them. Here are some helpful tips that can help make the experience more manageable. 

Organization

Staying organized is key. Be sure you keep track of bills, due dates on any contracts associated with the home or when annual dates arrive for any work that may need to be done on a regular basis. Devise a system so all paperwork is easily accessed and in a proper order. This will save on time and frustration later on.

Emergency Fund

Owning your own property comes with the responsibility of maintenance. This means not only the regular things like landscaping and cleaning but also those surprise repairs like a plumbing issue that can suddenly arise and be costly. Put some money aside each month so that you have it on hand when something like this happens.

Routine Maintenance

Make time in your busy schedule for regular maintenance. This means keeping landscaping tidy by trimming back any trees/bushes that could potentially be intrusive to your home. Also things like changing HVAC filters, sealing driveways and walkways and the like. Keeping on top of these items will help prevent more costly repairs down the road. 

Research Major Purchases

In the interest of saving money and having some on hand for emergencies, make smarter decisions for your larger purchases. Shop around for those bigger ticket items like appliances or furniture. Be on the lookout for sales or even great financing options that can help you put more money back into your wallet. 

Hire Professionals

Do it yourself projects can be great when many skills are not required or if you fortunately have those necessary skills. However, when a project is beyond your capabilities then it makes sense to outsource to a professional. Things like electrical work or anything else that is more complicated or potentially dangerous or lead to other larger problems which could cost you more in the long run. 

Think Hard About Waiting For Home Prices To Decrease

The real estate housing market continues to evolve this year leaving many to question where it will go from here. Gone are the days of extraordinarily low mortgage rates which only fueled the bidding wars that were transpiring on most any property for sale. Nowadays home loan rates have climbed which has set a slower pace for home sales perhaps giving buyers a bit more time to negotiate the right deal with less competition. The big question many are wondering now is what should we anticipate in the way of trends for home prices?

There has been a lot of discussion about a potential dip in prices since home prices peaked last year in June. Many have been debating if they should be waiting on a home purchase as a result. In fact, a recent survey from Zonda shows 53% of millennials are still renting right now because they’re holding off for home prices to come down. However, more recent data is suggesting that home prices have already bottomed out and are now on the rise again. Data from Black Knight shows home price trends in November of 2022 compared to February of 2023. The study shows that 96% of home prices had declined during the month of November where 78% of home prices increased in February of 2023.

This report will make you think twice about waiting as trends are showing that prices are now increasing as opposed to decreasing. Other experts and studies including the Home Price Expectation Survey predict that prices will increase steadily and return back to more of a normal pace of appreciation after 2023. 

Each market performs differently and there will be subtle nuances belonging to every area. The best way to help you understand the behavior in your market or area of interest is to rely on a professional real estate agent like us to assist you with the best insight and guidance.

6 Tips For a Painless Move

Buying a new home is a very exciting time. Finally you have found a new place to live and make yours as you begin the next chapter of your life. But let’s face it, the actual physical move can be a less than desirable chore. So here are a few helpful tips that can help make your move as painless as possible. 

Freshen first

You may have made some notes when visiting the property before you actually closed on it but see what sort of work needs to be done. Do any rooms need painting? Do any of the floors need to be refinished? Take care of these items first as it can be much easier than working around your belongings after they are all moved in. This also goes for cleaning too. If you don’t have the time or manpower then it may make sense to hire cleaners to help get things in tip top shape before moving in.

Change the locks

As soon as you possibly can it is always a good idea to have the locks changed. It is not because you don’t trust the previous owners per se, but you never know who they lent keys out to over the years. This also goes for mailbox keys, keypads and codes as well if applicable. 

Setup utilities

There’s nothing worse than moving in and having power or utilities not working. That can really add to the stress! Be sure you find out from the previous owners ahead of time what all of the utilities are that are associated with the home and get the accounts setup in your name ahead of time.

HOA registration?

Does your new home have a homeowners association (HOA)? Be sure you have done any necessary paperwork to ensure you can be easily contacted and are aware of bylaws and regulations so that you don’t get off on the wrong foot with your new neighbors.

Organize with labels

Once you have moved all of your things into the new home there will be some priority to what you need to unpack and get settled with first. The simplest  way to stay organized is to label all of your boxes so you know where everything is. This can also help you and/or movers place boxes in the appropriate rooms as well. Label each box with both the room and contents.

Food

Finally, things can get chaotic and busy on moving day so map out some good and easy food options that are close by. Whether it is a good pizza place or somewhere that is open later, knowing where to get food quickly will help you plan and avoid getting hangry! 

6 Tips For Making Your Remodel More Sustainable

Home remodeling jobs involve a lot of planning of what you want and how you are going to go about executing it. Nowadays most everyone has a regard for efficiency and sustainability but also for their budget. But what if you could respect both during the process? Here are some helpful tips from architects at Houzz that are both kind to the earth and your financial situation. 

Size

One simple way to have a lighter footprint is to control the size. Think more of a “less is more” attitude and go for quality over quantity. Smaller spaces and simpler renovations are going to be cheaper and use fewer materials. If you are in need of using any materials that are not sustainable, a smaller space will likely require less of them too.

No Demo Reno

Before you go knocking down walls ask yourself if you can get the same or similar results with upgrading what you currently have. Full renovations with demolition can get very expensive and cost nearly as much as new builds. Think about working with as much as you already have to save.

Research

Make sure you do your research so you are fully aware of everything you have before you start. This will help reduce waste and conserve costs. In particular, have a regard for your home’s orientation. It can have a significant impact on your home’s utility costs where you can make sure you design with a regard for things like natural light and ventilation.

Reuse

This is ideal if you can reuse or repurpose some elements of your home, but understandably you may not be able to in some instances. For example, keeping appliances may save you up front, but long term if they are older and less efficient, it may make more sense to replace them with newer models and either give away or sell your old ones.

Buy Local

Opting to go with locally sourced and made materials and products is both environmentally responsible and socially responsible. It minimizes transportation emissions and helps create jobs and support local economies. It is a win - win!

Long Term Design and Flexibility

Think about your future and consider longer term ways your home may be used. For example, a room that you use as a nursery now may make sense later on as a home office or TV room. Or think about flexibility with maybe a current home office that can double as a guest room. 

How You Know That You Found The Home Of Your Dreams

The steps of buying a home does come with some necessary paperwork and qualification,  less exciting details but the actual home searching part can be quite fun. So how do you know when you visit a house and know it is “the one?” You may feel it, but here are some things to consider before you submit that offer.

Must-Have Checklist

When you set out to do your home searching, make sure you make a list of must-haves before you begin. Don’t confuse this criteria with your want list. This will help you narrow down the homes that are worth taking a closer look at. From that point you may even want to rank the finalists for which you like best.

The Location

A property’s location is one of the most important things to consider as it is one thing you can never change. Decide if you want more of a quieter suburban setting or an urban in-town neighborhood where you can walk to places. Whichever setting suits your lifestyle is most important.

The Function

It is important to know if the home caters to your needs. Does it have enough bedrooms? Can you entertain like you want to in the living room and/or kitchen? Does the home need renovating in order to be a better fit for you? Ask yourself these questions as you evaluate. 

Comfort

Here is where you can rely more on just a feeling. When you enter the home, does it make you feel relaxed like you are “at home?” Or can you at least see yourself very easily living there? If you already feel comfortable in it, that is a good sign that it can be a good fit.

The Flexibility

Figure out what you can do with the home to make it more suitable for you. Maybe it is redecorating or adding a room or outdoor space like a deck. Do some basic calculations to see if any of those projects would be financially worth it or if they would put you beyond your budget to make the home just right. If not, it may just be the perfect home for you!

Pending Home Sales Are Increasing

According to a recent release from the National Association of Realtors (NAR) pending home sales have been increasing for the second month in a row. Although the number of transactions is fewer than last year at this time, contract signings have been up by 8.1% in January.

“Buyers responded to better affordability from falling mortgage rates in December and January,” said NAR Chief Economist Lawrence Yun.

NAR expects that the economy will hold strong and add jobs this year and in 2024 with 30 year fixed mortgages going to just over 6% this year and to the mid 5’s next year. Yun feels that this year we will still experience lower year-over-year sales before rebounding next year. 

“Home sales activity looks to be bottoming out in the first quarter of this year, before incremental improvements will occur,” Yun said. “But an annual gain in home sales will not occur until 2024. Meanwhile, home prices will be steady in most parts of the country with a minor change in the national median home price.”

NAR also expects that home prices will be stable compared to last year in most areas. They estimate that we will experience bigger price increases once we enter 2024.

Regional Breakdown

The Northeast number of pending home sales increased by 6.0% this January from the month before while the Midwest increased by 7.9% for the same time period. 

The South went up by 8.3% with the West surging the most by 10.1% in January from the month before. “An extra bump occurred in the West region because of lower home prices, while gains in the South were due to stronger job growth in that region,” Yun added.

Collectively these signs show good strength and positivity in the marketplace. 

10 Popular Home Designs For 2023

Home design trends are always changing. With more people working from home and spending more time there, home is somewhere we value even more so these days. Design trends as a result are looking to work in more creativity with color, texture, patterns and optimism. Here are 10 of the popular home design trends that everyone is excited about for this year. 

Kitchen Design Trends

Natural Materials

Natural materials are almost always popular but lately they have become even more so. In kitchens specifically, we are seeing more quartzite and other natural counters complemented by marble tile and wood cabinets. 

Wood Cabinets

Wood cabinetry is a more popular choice these days. White oak is among one of the top picks with walnut also being popular. 

Creative Island Seating

Casual seating is an appealing feature for a kitchen island. For larger kitchens this can be a secondary place to informally dine and for smaller kitchens this can be a great solution for both a combined eating and prep area. Trends include things like an extension of the island for dining either with a different counter material or even a lowered height for differentiation. 

Commercial Faucets

A popular look is to go with a commercial style faucet that can better handle your regular cooking tasks. Many brands nowadays are offering lines that are a mix of industrial and modern design.

Bathrooms Design Trends

Thresholdless Shower

Maybe one of the most sleek looks is to have your bathroom tile floor run directly into the shower without any curb or threshold to separate the two. This extends your non-slip surface into the main part of the bathroom and can make a smaller bath look larger!

Blue and White

Similar to blue accents in current kitchen design trends, this has also been a popular choice in bathroom design. The idea is it can inject some life into all white palettes without appearing too bold or drastic. 

Bathing

In the interest of creating a spa-like bath, homeowners are looking to have a relaxing experience. To accomplish this, features like multiple shower heads or handhelds that offer various spray settings or massage can be a great solution. Handhelds can also make both shower and pet cleaning much simpler!

Living Area Design Trends

Layers of Textures

A popular trend in design is to have layered textures. This can be done with decor, wallpaper, materials and accessories. Popular looks include combining wood, stone, metal, concrete and fabrics to offer visual and tactile interest.

Outdoor Connection

Most homeowners want to have some connection with the outdoors. A popular feature is to have sliding glass doors to the outside or large windows that maximize views. For other, more attainable ideas for everyone, the implementation of wallpaper prints that recall nature along with natural materials and colors can be a great solution. 

Built-ins

Built-in cabinets that are custom built provide homeowners with storage while having a finished look. This is why they’re one of the top design features professionals recommend when designing a living room.

Seven Habits of Successful Homebuyers

The real estate market today is always changing. The process of buying a home over the past few years is not like how it is today. While housing stock is a little better than it was, home loan rates are higher now which makes for a different set of challenges. Today’s homebuyer finds success when adopting a particular mindset. Here are some tips that can be helpful. 

Persistence

The real estate market may be shifting and cooling off a bit but there still are pockets of neighborhoods or properties that are still hot. That means there are still some bidding wars happening. Buyers who stay persistent will find themselves being the winning bidder.

Emotional strength

Buying a new home can be a very exciting time as you tour properties and picture yourself in them. However, especially where you can still find yourself in a competitive bid situation, it is best to keep your emotions in check in case you are not the winning party. Prepare yourself to get back on the horse and move onto the next property if so.

Keeping an open mind

Usually when buyers shop for a home they limit themselves to a smaller area. However, these days work options are becoming more flexible which allows one to be able to live in other areas. This may have you being flexible on looking at other locations that may be a better buy for your money with more housing stock to pick from. This can really help!

Ask questions

Don’t forget that the purchase of a home is usually one of the biggest ones that you will make in your life. So, make sure you ask as many questions as you can think of when touring homes and learning about areas.

Look past appearances

Most buyers will want to find a home that is move-in ready and turnkey. However, not all properties are perfect and in the interest of opening up options, you may want to consider a home that may need some cosmetic updates. These can be completed down the road as you make the home uniquely yours.

Establish wants and needs

In the end there is no perfect home. While you may find something that is absolutely perfect, chances are there is still going to be something that it may not have that you originally had set out for. To help open up your options, consider what you want versus what you absolutely need. Needs should be the really important core things that you cannot part with like bedroom count, while wants can be something that you can add later like an updated kitchen. 

Stay flexible

There is also a big benefit by staying flexible. That means being able to tour homes when they are new to the market and also remaining open to contract term negotiations. Maybe you could be open to a seller’s preferred closing time frame or the like. 

Have Home Prices Reached Their Low?

If you are a homeowner currently or if you’re looking to purchase a home soon, the recent headlines about home prices may have you asking more questions than getting answers. Everyone is talking about home values cooling and decreasing and that’s causing concern about a repeat of what happened to prices during the last crash back in 2008.

One of the biggest questions people wonder today is just how much will home prices decline? However,  what not everyone may realize is expert forecasters aren’t predicting a free fall in prices. If you refer to recent data, there’s an argument to be made that we may be past the most significant portion of month-over-month price depreciation. The numbers weren’t actually significant declines on the national level. Instead of asking how far will they drop, the question really is if home values have already hit bottom?

Recent data reporting provides a snapshot of home pricing from Case-Shiller, the Federal Housing Finance Agency (FHFA), Black Knight, and CoreLogic. The reporting collectively indicates that on a national scale property values have changed month-over-month since January 2022. (November and December numbers have yet to come out.)

The most interesting trend is that if we look at the last four months that were published from July to October of 2022 we can see that all reports show the biggest dip in home depreciation occurred during the month of August. This certainly does not solidify that home prices have reached their low, but it does indicate that homes are not on a free fall which could mean that the worst may be behind us.

If you have questions about what’s happening with home prices in your local market, reach out to me to further discuss. Each market performs differently and some may have seen prices more inflated than others. I am happy to review how the local market is currently trending with you.