Attract Buyers and Improve Home Value All at Once

You have had enough and want to upgrade to a new home.  You have looked online and know exactly what you want and all you need to do now is sell your old home.  You start the process and that’s when the bad news comes.  Your home is not worth what you thought it would be worth and without a little help; your listing agent does not think that it will sell without some real help.  Sure, you had heard about how home values have dropped over the years but you never realized just how much.  Also, you have lived in your home for ages and made it a place that is extremely comfortable to you. Now, of course, you can’t afford the new home you wanted if you can’t sell your existing home.  What do you do now?  You can either forget your dreams of a new home or you can do things to help the value of your existing home in order to make the sale easier.  Time to fix up the property so that it today’s buyers will be interested and will offer you the amount of money you need to move on.  

  

When getting your home ready to sell, there are five key things to look at that will help the value and make buyers take notice and luckily these improvements will not break the bank.  First and foremost, you need to think of first impressions.  You can’t get people to look at the inside of your home if your landscaping is scaring buyers from even stopping at your home.  Buyers might think that if you ignore your yard, you are more likely to ignore other areas of upkeep of your home, thus lowering the overall value.  Curb appeal makes a difference, so make sure your landscaping is tidy and not overgrown.  If necessary, spruce up your tired yard by planting some bright flowers and create a welcoming atmosphere around your home.  The second area to look at improving is your bathroom.  If you can’t remodel your whole home, just improving the bathroom can entice more buyers than you think.  But if you can’t afford a complete remodel, minor improvements, such as paint, new light or plumbing fixtures, or even replacing old shower curtains, can go a long way to changing the look and appearance of an outdated bathroom.  After, the bathroom, the kitchen is third most essential room to improve.  Cabinets play a major role in a buyer’s decision about the kitchen, so if you can afford it, replace old and tired cabinets when you can.  If not, either paint or clean and polish existing cabinets to improve the overall look of the room.  Replacing outdated appliances is another way to add value to your home and the return on investment is pretty high.  The fourth thing to think about is lighting.  Unfortunately, most homes in America are not lit properly.  Bright lighting makes rooms look more spacious, so for every 50 square feet you should aim for a total of 100 watts.  There should also be at least three different fixtures in each area. You need ambient light (overhead), task light (pendant, under cabinet, reading, etc.), and accent light (table lamps or on walls).  The last area to consider is Going Green.  Today’s buyers are extremely interested in ways to improve a home’s energy efficiency by lowering their carbon footprint, and thus decreasing high energy costs.  Small things like programmable thermostats, water-saving faucets or toilets, tankless water heaters, energy efficient appliances, to solar panels are definitely things to think about to attract energy conscious buyers to your home.  Besides, energy efficiency is something that will never go out of style.  So before your dreams of a new home go up in smoke, consider these areas to attract new buyers to your home as well as increase its value at the same time.  

New Year, New You, New Home (Sort Of)

The ball has dropped and New Year resolutions are in full swing.  We all make some sort of attempt at the beginning of the New Year to better ourselves, whether it is to lose weight, be kinder to others, or try harder at work.  What most resolutions are about is change.  We want to change our circumstances and our outlook on life.  One of the best ways to help jump-start this change is to adjust our surroundings.  Sure, if you have the means and opportunity, start fresh and buy a new home.  But for those of that either don’t want to move or can’t, there are ways that you can change your current surroundings to help kick start your new outlook on life. 

Just keep in mind that a little can go a long way.  Small changes here or there can make a big difference in the feel or ambiance of a space.  Adding a new style to an existing place can bring new life to a room.  If your existing furniture is traditional in style, throw in an updated modern piece to change things up or add an antique to a contemporary room.  Sure, it may be eclectic, but it may also inspire you to go even further.  You could also try a new color.  Traditionally, beige has been popular as the go to color in most homes, but a trend for the upcoming year is shades of gray.  Just like the book, it may be the spark you need to liven up your day.  Not ready to tackle a huge painting project, no problem.  Throw pillows, a rug, or accent pieces in a new color may be all you need to brighten up an old room.  Don’t have the money to spend to get new pieces isn’t an issue either.  Try rearranging your existing furniture to create a completely new feel to a room.  Angling a table this way or moving a couch that way, may make all the difference.  Making changes to your surroundings can also help motivate you to stick with all the other changes you want to make in your life.  So really it’s New Year, new home (or new surroundings), new you. 

When is a Seller not a Seller?

Real estate is a cyclical business.  In late January, many people start thinking about purchasing a home.  Towards the end of the year, around September, kids are in school, the temperature starts to cool, and the market starts to slow down. But, traditionally, it is in the beginning of the year when the market picks up momentum.  Late January and early February is when most buyers begin to consider looking for a home.  Not long afterwards, sellers usually start thinking about selling and either moving into a larger or smaller house. 

When thinking about selling your house, it is important to know when to begin looking for your next home.  The current market will usually tell you if you are likely to have an offer accepted that is contingent on selling your house.  When the market is hot and there are a lot of buyers, it is more difficult to purchase a home before selling your house.  This is because most sellers do not want to wait for you to sell your home when there are plenty of willing and able buyers who will make a purchase without having to sell.  When the market is slower and the buyers are less plentiful, or the inventory is high, sellers are more incline to entertain offers that are contingent upon the sale of another property.  So now what? Deciding to buy or sell a house is a big decision.  During the thinking stage, it is important to have the information you need to make the right decision for you and your family. 

Oh Christmas Tree, Oh Christmas Tree, How Do We Recycle Your Branches?

The Yuletide season has come to a close and things are started to get back to normal.  With the New Year ringing in, maybe it is time to think about taking down all your Christmas decorations.  The stockings are put away, the ornaments are packed, and the beautiful live tree is ready to be put out by the curb.  But is that really the best option for your tree.  Sure it is no longer Christmas but that doesn’t mean that your tree should be laid to rest in the garbage.  In this day and age of green living and recycling, there are so many other options out there to put your old Christmas tree to use.   Wildlife and birds like to feed off of pine trees so leaving it in an area in your yard that will allow for this is a great way to give back to nature.  You could chip your old tree and use it as mulch around other trees, shrubs and flower beds, or the branches could be used as cover  over bulbs and perennials.  Your old tree can also be used as fertilizer as the falling pine needles can lower the ph of the soil, which ban be beneficial to planting certain flowers or even strawberries.  These are just a few examples of things you can use your old Christmas tree around your home after the holidays.

While recycling trees at home is great, what if you live in an apartment or don’t have a yard that can accommodate it?  Not to worry, there are ways for you to recycle your Christmas tree as well.  Check out the National Christmas Tree Association’s web site, www.realchristmastrees.org, or contact your local city, county or state agency to find out information about recycling programs in your area.  If you purchased a tree that had a red ornament attached to it, it was grown by one of thousands of growers that are actively involved in tree recycling.  The ornament itself will have information on it regarding how to recycle your tree responsibly.  Besides, you would be surprised what communities are using your old trees for.  For example, Recycled trees can be used by the forestry service to improve fish habitat creating new healthy reefs.  They could also be used to make natural barriers in shallow water to reduce erosion or as a wave break.  So, before you put your tree in the trash, think green and reuse it.  

The Rates Are Dropping! The Rates Are Dropping!

Interest rates have dropped, and when interest rates change they directly impact home buyers and sellers.  

Why did the interest rates drop?

At the end of October, interest rates dropped .25% to approximately 4.0% on a typical 30 year fixed mortgage.  The rates decreased due to the recent downturn of the stock market.  Once the market recovers, you will see the interest rates go back up to 4.25% – 4.35%. 

How much longer can we expect to see these historical low rates?

Mortgage interest rates will stay low as long as the economy is sluggish and inflation is low.  The feds have kept the base lending limit at 0% much longer than it was anticipated, which has kept mortgage interest rates lower.  This is partially due to the recovery of the economy after the Great Recession.  Although our politicians boast how well the economy is doing, from a personal experience, I see a lot of families still going through financial stress.  Once we see two or three consecutive quarters of economic growth, you will begin hearing rumors about the feds increasing the base interest rate.  Once the base interest rate increases, mortgage interest rates will also go up.

What do lower interest rates mean to you as a homeowner?

If interest rates increase, the average home buyer will not be able to purchase the same maximum loan amount and will have to lower their purchase price.  This could possibly mean the average home value decreasing slightly.

The Weather Outside is Frightful and the Fire Is So Delightful

Yes a fire can be delightful, as long as the fire is one that is in the fireplace.  Tis the season for merriment and decorations, but, it is also the season for holiday disasters.  Every year you hear it on the news, some poor unsuspecting family has lost their home and everything inside because of some freak yet common accident. And who can't forget the scene from the movie, Christmas Vacation, when Uncle Lewis blows up the tree.  The holidays can be stressful enough without dealing with loss and insurance claims.  So, when preparing your home for all the festivities, just remember a few basic safety precautions so that your holidays do not go up in smoke.   

While the biggest cause for home fires, especially around the holidays is cooking, there are a few other things to think about around your home.  You may have visions of snuggling up with your loved ones in front of that delightful fire, but before you light it the first time this season, you need to make sure it is clean and free from buildup and debris.  The weather may be frightful so you may want additional heat in your home.  Space heaters are great for that if you keep them on a level surface and never leave them unattended.  Candles create a beautiful ambience for the holidays, but, just like heaters, never leave any lit candles unattended.  Also be careful where you place them.  Make sure they are nowhere near curtains or other flammable material or objects.  Some of the biggest culprits of holiday disasters are the Christmas tree and lights.  When putting up your Christmas lights, make sure you inspect the wiring and discard any strands that have been frayed or exposed.  Also, be careful not to overload your outlets as this is a major fire hazard.  Last, but certainly not least, if you have a live Christmas tree, water it often.  If not watered regularly, the tree will dry out and will basically become a very large piece of kindling sitting right there in your home.  Keep these few things in mind and may your holidays be fire and stress free. 

Holiday House Hunting

Black Friday may be over, but there are still many bargains to be had out there.  While your list of gifts to buy may be long, don’t forget to buy yourself a little something for your troubles.  Consider Christmas shopping for a home over the holidays.  This time of year is traditionally a slow time when it comes to home sales because people are busier with their holiday plans.  While everyone else is at home trimming the tree or sipping egg nog, you can be out there looking for a home with a lot less stress and competition.  Selling a home over the holidays is tough, so if a home is for sale during this time, you know that the seller is extremely motivated.  This means they are much more likely to negotiate, especially when yours may be the only offer on the table.  Another important fact to consider is that when it comes to real estate, December has the record for being the month with the lowest home prices than any other month of the year. 

Besides bargain prices and motivated sellers, one of the best reasons to shop for a home during the holiday season is that it could be a potential way to reduce your tax bill.  If you close on a home late December or in January, you could possibly get a huge break.  Everyone’s tax situation is different and you need to consult your personal tax consultant, however, you could potentially be able to deduct your mortgage interest, property taxes, points, and other costs associated with purchasing your home.  So, drop the garland, put the egg nog in the refrigerator, and get shopping, for a home for the holidays.