If the thought of investing your money into brick and mortar—or perhaps some stylishly-painted siding—excites you, join the club. Investing in real estate has long been one of Americans' favorite ways to grow their wealth. In fact, over 70% of single-family rental properties are currently owned by individual investors rather than corporations, according to Census data.1  Moreover, a decade's worth of Bankrate surveys has found that Americans often prefer real estate for long-term wealth building over other investments. According to Bankrate's latest survey, for example, Americans have historically embraced real estate, in part, because of the strong return on investment it can offer—especially to investors willing to stick with a property over time.2 It’s also a popular way to hedge against inflation since both rental income and property values tend to rise in tandem with overall prices.3 Now, as higher interest rates continue to push priced-out homebuyers to the sidelines, a new crop of “mom and pop” investors are eyeing the mushrooming rental market as a potential goldmine.4 Interest in buying a home to both live in and rent is also on the rise, especially amongst cash-strapped buyers looking to supplement their mortgage payments.5 But how do you know if you’re well-suited to take advantage of these real estate investment opportunities? Here are three signs that owning a rental property could be right for you.   1. YOU'RE A HOMEBUYER WHO WANTS HELP COVERING THE MORTGAGE If you're looking for a creative way to buy a home without overspending, “house hacking” could be the answer. Increasingly popular with first-time homebuyers and budget-conscious investors, house hacking simply means buying a home that you intend to live in while renting out a portion of it to one or more tenants.5  House hacking also tends to be easier to break into than traditional real estate investing since you don't need as high a credit score or as large a down payment to qualify for a mortgage. In fact, some government-backed mortgage programs will let you buy a primary residence with little to no money down.6 Buying a home you don't plan to live in, by contrast, may require you to put down as much as 15% to 25% to qualify for a loan.7   If you house hack, the money you collect for rent each month can help cover your mortgage and other homeownership expenses. Depending on your setup, you may also be able to save on utility bills by splitting them with your tenant or tacking a portion onto their monthly rent. Another major advantage of house hacking is that it entitles you to certain tax benefits and deductions available only to landlords.8 When it's time to start your search, we can help you find a property that's ideal for house hacking, such as a house with a walkout basement, a multifamily unit, or a home with enough outdoor space to build an accessory dwelling unit or garage apartment.   2. YOU'RE AN INVESTOR LOOKING FOR STEADY AND RELIABLE INCOME If you’re not crazy about the idea of a live-in tenant but still desire an additional stream of income, a dedicated long-term rental property could be a better option for you. Besides the monthly proceeds, purchasing a rental home can also add diversity and long-term stability to your investment portfolio and help you build wealth over time.9 According to data from the Federal Reserve, real estate owners have historically prospered. In early 2020, for example, the median home was worth almost triple what it was 30 years prior. Then, during the pandemic-era real estate boom, average home prices grew at an especially frenzied clip, climbing by nearly 50%, on average, in just two and a half years.10  However, the rate of appreciation can be hard to predict, so it’s prudent to invest in a property that also offers positive cash flow, which means the rent you take in exceeds your expenses. This strategy helps to ensure that you’ll put money in your pocket each month, even if the property’s value takes time to grow. While today’s higher mortgage rates can make it more challenging for landlords to turn a profit, investment opportunities aren’t reserved for cash buyers. In fact, currently, almost 60% of real estate investors take out a loan to finance their purchase, according to Thomas Malone, an economist at the real estate data firm CoreLogic.4  He also notes that more small investors are stepping in to meet demand for rental housing, which has grown since many would-be buyers remain priced out of the purchase market.4  If you want to explore opportunities for a residential rental property that's good for your wallet and attractive to renters, we can help. Reach out with questions or to schedule a free consultation.    3. YOU'RE AN EXPERIENCED INVESTOR LOOKING TO MAXIMIZE YOUR POTENTIAL RETURNS Another increasingly popular way to draw income from an investment property is to convert it to a short-term vacation rental. But beware: This strategy can be riskier as some municipalities have tightened rental restrictions and others are suffering from market oversaturation.11,12  With that said, if you're an experienced investor who can afford to take on some uncertainty, then investing in a short-term rental could make sense for you.  If you find the right property, for example, you could earn significantly more renting it short-term on a platform like Airbnb than if you rented the home to a long-term tenant.11 The key is to keep it occupied as much as possible at a premium nightly rate. To do that, you’ll need some marketing savvy, hospitality skills, and business acumen. Of course, you can always hire a professional property manager, but you’ll need to factor the cost into your budget. The vacation rental market enjoyed a boom during the pandemic, and some inexperienced investors are finding they bit off more than they can chew. As a result, there's an opportunity to snap up some of these properties, but you'll need some cash on hand and a willingness to learn the business.12 We can help you scout opportunities in our local market or, if you’re interested in investing in another area, we can refer you to an agent there for assistance.   BOTTOMLINE Investing in real estate can be a great way to build your wealth long-term and earn some extra income. But to make the most of your investment, it pays to be strategic.  Call us for a consultation so we can discuss your goals and budget. We'll help you discover neighborhoods with the best income potential, point out the homes most suited to renting, and help you brainstorm the best investment strategy for you. Before you take the plunge, make sure you can answer “YES” to these three questions: 1. Are you ready to be a landlord? Owning a rental property can take a lot of time and energy. You're not just buying passive income, you're also building sweat equity since the time you spend maintaining, marketing, and managing your rental can add up quickly. So be prepared to do some soul-searching to ensure you’ll not only flourish as a landlord, but actually enjoy it.  If you want to invest in real estate but aren’t prepared to put in the day-to-day effort required, we can refer you to a property management service for help.    2. Can you afford to invest in real estate? The last thing you want is to get over-extended with your new real estate venture. Besides the cost of purchasing the property, you’ll need to consider additional expenses, like property taxes, insurance, administrative costs, and maintenance and repairs. You will also need a cash reserve for unexpected issues or potential vacancies. We can help you run the numbers to determine whether you can charge enough rent to offset your expenditures.   3. Have you found the right income property? Even if you’ve got your finances in order and are emotionally ready to invest, your success as a landlord will also depend on the property you buy. The criteria for a good rental home and a good family home are often different, so it’s important to lean on professionals for advice.  We can help you find an ideal rental property, taking into account your budget, risk appetite, and investment goals. If you decide to invest in a different area, we'll connect you with an agent who's more plugged into that community. Reach out today to schedule a free consultation.   The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.   Sources: PR Newswire -https://www.prnewswire.com/news-releases/census-data-show-individuals-continue-to-own-largest-share-of-single-family-rental-homes-301725024.html Bankrate -https://www.bankrate.com/investing/survey-favorite-long-term-investment-2022/  Forbes -https://www.forbes.com/sites/forbesbusinesscouncil/2022/04/14/why-income-generating-real-estate-is-the-best-hedge-against-inflation/?sh=1081ce921746 MarketWatch -https://www.msn.com/en-us/money/realestate/another-challenge-for-homebuyers-more-investors-are-snapping-up-homes-and-40-of-them-are-using-cash/ar-AA1foWSB Realtor.com -https://www.realtor.com/advice/buy/on-the-house-house-hacking-your-way-into-your-first-home/  NerdWallet -https://www.nerdwallet.com/article/mortgages/government-home-loans LendingTree -https://www.lendingtree.com/home/mortgage/down-payment-for-rental-property/  Quicken Loans -https://www.quickenloans.com/learn/house-hacking Investors Business Daily -https://www.investors.com/etfs-and-funds/personal-finance/rental-properties-investing-experts/ St. Louis Fed FRED Economic Data -https://fred.stlouisfed.org/series/MSPUS  Story by J.P. Morgan -https://story.jpmorgan.com/real-estate-news/thinking-about-investing-in-short-term-rentals-heres-what-to-know Skift -https://skift.com/2023/07/21/short-term-rental-saturation-leads-to-a-correction-and-lots-of-home-sales/

  When you've lived somewhere for many years, it can be tough to say goodbye. But if you (or a loved one) currently have a home that is bigger than necessary or is too high maintenance, it may be time to trade unused square footage for a smaller, more manageable space. Take it from the downsizers who’ve been there: Although living small might require some adjustments, it can also be liberating––especially if you're in a stage of life where past responsibilities have given way to new possibilities and adventures. In fact, many downsizers report feeling invigorated by the change, according to real estate journalist and author Sheri Koones. “It scares people to think of moving into a smaller space,” said Koones to the Associated Press. “But every single person I interviewed who has made the transition says they are so happy they did.”1 The key is to find somewhere you can live well and move around comfortably, without feeling overly restricted. If you like the idea of aging in place or are already in your golden years, you may also want to look for signs that a new home can conveniently age with you. With that in mind, we recommend focusing your search around three key factors: desired lifestyle, optimal design, and long-term accessibility. Read on for specific tips, then call us for a free consultation. We can help you identify the types of homes that are best suited to living large with less.   Do you have a loved one whose housing needs have changed? Share this information to help start a conversation about the benefits of downsizing.     DESIRED LIFESTYLE The best part of downsizing is the lifestyle you unlock when you trade square footage for convenience. With fewer chores and home maintenance tasks to worry about, you can instead channel your energy into other pursuits. For example, instead of spending your afternoons working in the yard or cleaning, you can catch up on the news, read a bestseller, start a new craft project, or pursue other hobbies. You may even be able to travel or spend more time with friends and family. Research shows that individuals over the age of 65 report more life satisfaction when they have the opportunity to spend time around children, talk with friends, socialize in community centers, volunteer, or engage in hobbies. But that can be hard to do regularly when you've got a home that needs constant attention or you live far from your community.2 As you compare potential homes, keep in mind the type of lifestyle you envision. Do you plan to travel? If so, a home with extra security, such as a condominium or gated community, may give you some welcome peace of mind. Or do you plan to have friends and family stay overnight? In that case, you may want to look for a floor plan with flex space or a property that has access to separate guest suites. Alternatively, a senior community that offers catered meals and housekeeping may be a better choice if you or a spouse need extra support. Action item: Grab a pen and take some time to envision what your ideal future might look like. Write down the activities and hobbies you hope to add to your life or continue with going forward, as well as the chores and responsibilities you'd love to drop. We can use those answers to help shape your house hunt. LONG-TERM ACCESSIBILITY Buying a home that you can age well in can be a great way to boost your health prospects and happiness. According to the U.S. Department of Housing and Urban Development (HUD), homeowners who age in place instead of in an institutional environment not only save money over time, they also enjoy greater health and emotional benefits.4 Aging in place is also popular. According to survey findings from the National Poll on Healthy Aging, the vast majority of adults between the ages of 50 and 80 would prefer to age in their own homes.5 But even though many adults want to age in place, only 34% of surveyed adults currently live in a home with the features to make it possible.5 If you're already in the second half of your life, then it's smart to prioritize accessibility now, even if you're highly mobile. Choosing an accessible home will improve your odds of staying put for longer. Plus, you never know when you might need an accessible light switch, handrails in the bathroom, or a seat in the shower, says Sheri Koones. “Yes, older people with disabilities need them, but even younger people break a leg skiing, or have situations where they want a barrier-free shower.”1 As you consider your options, try to imagine what your needs might be as you get older and be proactive in identifying potential obstacles, recommends the National Council on Aging (NCOA).6 For example, a single-level home or one with wide enough stairs for a stair lift or access to an elevator may be a more practical choice than a home with lots of narrow stairs. Alternatively, a home with at least one ground-level bedroom and bathroom may also work well for you. Consider your needs outside the home, as well: If you frequently visit the doctor, grocery store, or community center, for example, then you may benefit from choosing a property nearby. Action item: Review the checklist below, adapted from the National Institute on Aging’s home safety worksheet, or download the full version from the agency’s website.7 Highlight the items that are most important to you. We can reference these guidelines as we consider potential homes and suggest ways to adapt a property to meet your current or future requirements.   HOME SAFETY CHECKLIST 7 ☐ If a walker or wheelchair is needed, can the entrances to the house be modified — perhaps by putting in a ramp to the front door? ☐ Are there any tripping hazards at exterior entrances or inside the house? ☐ Are the hallways and doorways wide enough to accommodate a wheelchair if needed? ☐ Does the home have at least one ground-floor bedroom and bathroom? ☐ Are there any staircases, and if so, could they accommodate a stair lift? ☐ Is the house well-lit, inside and out, particularly at the top and bottom of stairs? ☐ Could handrails be installed on both sides of the staircase? ☐ Is there at least one stairway handrail that extends beyond the first and last steps on each flight of stairs? ☐ Are outdoor steps sturdy and textured to prevent falls in wet or icy weather? ☐ Are there grab bars near toilets and in the tub or shower? ☐ Have a shower stool and hand-held shower head been installed to make bathing easier? ☐ Is the water heater set at 120° F to avoid scalding tap water? ☐ Are there safety knobs and an automatic shut-off switch on the stove? ☐ Have smoke and carbon monoxide alarms been installed near the kitchen and in all bedrooms? ☐ Are there secure locks on all outside doors and windows?     BOTTOMLINE You don't have to compromise on comfort to downsize successfully. We can help you strategize your next move and identify the best new home for you—whether that's a smaller home for rent or another one to call your own. We take pride in offering a full-service real estate experience and assisting our clients through all stages of the real estate journey. And we’ll go the extra mile to maximize your current home's sales price so that you’re set up for financial security.   The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.   Sources: Associated Press (AP) - https://apnews.com/article/lifestyle-f094372b46bae82020c174907eb953c0 Healthcare (Basel) - https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10671417/ Washington Post - https://www.washingtonpost.com/home/2023/02/07/make-small-room-appear-larger/ HUD User - https://www.huduser.gov/portal/periodicals/em/fall13/highlight2.html National Poll on Healthy Aging - https://www.healthyagingpoll.org/reports-more/report/older-adults-preparedness-age-place National Council on Aging (NCOA) - https://www.ncoa.org/adviser/medical-alert-systems/downsizing-for-aging-in-place/ National Institute of Health (NIH) - https://www.nia.nih.gov/sites/default/files/2023-04/worksheet-home-safety-checklist_1.pdf

  Stress-Free Home Cleaning: 27 Practical Tactics for Busy Households   Keeping a clean and orderly home is a challenge for many of us. Between busy work schedules, social obligations, and family commitments, it’s tough to keep up with daily chores—let alone larger seasonal tasks.   The effort is worthwhile, however. A sanitary environment can keep you and your family healthier by minimizing your exposure to germs and allergens.1 Plus, researchers have found that organized, uncluttered homes have quantifiable mental health benefits, too, including reduced stress, improved emotional regulation, and increased productivity.2   The reality is, we enjoy our homes more when they are in good order. It’s much easier to relax without piles of unopened mail or a messy kitchen reminding us of work to be done. And don’t we all feel more inclined to entertain family and friends when our homes are well-kept?   That’s why we’ve rounded up our favorite tactics—from overall strategies to little tips and tricks—for keeping things tidy without spending all our spare time cleaning.     Set a Schedule for Daily and Weekly Cleaning   We’ve all been there—you put off vacuuming or mopping your floor for a few days, only to realize that weeks have passed. Creating a cleaning schedule that works for you is the best way to stay on top of things and avoid overwhelm. Here are a few of our favorite strategies:   Designate a day of the week for each task—then, add them to your calendar so you can’t forget. Create a shared schedule that assigns specific responsibilities to each member of the household. Post it in a prominent place, like on the refrigerator, or create a shared digital calendar. Carve out 15 minutes a day for cleaning and decluttering. Set a timer on your phone and get as much done as you can before it goes off.   It may take some trial and error to find the tactics that work best for you. The most important thing is to make a habit of cleaning so that clutter and grime don’t have a chance to build. And if you’d like some professional help, reach out for a referral to one of our favorite cleaning services!     Tackle Bigger Chores Seasonally   Many home care tasks are seasonal by nature and only need to be completed once or twice a year. But when we don’t have a plan to tackle them, it’s all too easy to put them off. Here are a few tips to stay on top of these chores:   Mark days on your calendar in advance to attend to annual or semi-annual chores, like cleaning gutters, washing windows, turning mattresses, and shampooing carpets. Schedule just one primary task each weekend instead of blocking out a full two days. This will help ensure a good balance between chores and relaxation. Designate a date two to four times a year, depending on your lifestyle, to put away out-of-season items like clothes, holiday decorations, and sporting goods. Take some time to sort through your seasonal items when you pack them away. Then you can toss, sell, or donate items that you no longer need or enjoy.   Remember—breaking down these larger tasks can make them less overwhelming. If you space them out so that you can handle them one by one, even the most time-consuming chores become a lot more manageable.   And since all your time is valuable, don't hesitate to delegate these larger home care tasks to professionals. Give us a call for a list of our recommended service providers.     Reduce the Barriers to Cleaning   Set yourself up for success by ensuring you have the tools on hand to tackle small tasks with ease. Here are a few ways to make your cleaning supplies more accessible:   Store a broom, dustpan, and vacuum on each floor of your home so they’re easy to reach. Stash containers of disinfecting and glass wipes under every sink for a mid-week wipe-down. Place extra bags beneath the liner of your garbage pails, so you’ll have a replacement ready when you take out the trash. Keep a paper shredder and recycling bin handy so you can dispose of unwanted mail as it’s opened.   By strategically placing your tools and supplies in the locations where you’re most likely to need them, you’ll make cleaning less of a chore and more of a habit.     Stop the Clutter Before It Starts   From coats to shoes to mail, it’s all too easy to find clutter taking over your home. Once these piles start to form, they can feel overwhelming—which only makes it harder to address them.   To avoid this problem, stop the clutter before it starts. Assign every item a home and create storage spaces and “drop zones” in key locations.3 Here are a few ideas to get you started:   Install coat hooks and shoe racks in the entryway for easy access. Add a key caddy or shelf for essential items to get you out the door. Hang a letter bin to capture mail and newspapers as soon as you walk into the house. Place a donation box in each closet for items you no longer want or need.   It can take a little time to get in the habit of returning items to their assigned space. But once you do, staying on top of clutter will become far more manageable.   Are you considering a larger organizational upgrade, like a custom closet or pantry system? Reach out for a free consultation to find out how the investment could impact the value of your home!     Tackle Small Tasks Right Away   Sometimes, the mental load of thinking about a chore you need to do is worse than the chore itself. Plus, handling small tasks right away can reduce the need for lengthy cleaning sessions.3   Try working these changes into your routine: Learn to clean as you cook, rather than piling it all up for later. As you wait for water to boil or food to cook through, wash the bowls and utensils you used for prep. Hang bath towels on a bar immediately after use. By allowing them to properly air dry, you can cut down on the frequency of laundering. Bring items with you when you leave a room. For example, return plates and cups to the kitchen right away rather than letting them stack up in your home office. Take out the trash when you leave for work, school drop-off, or errands. This will save you the time and hassle of a second trip.   If you implement these small changes, your home will stay neater—and you’ll minimize the number of dedicated cleaning sessions you need to take on each week.     Embrace an Evening “Shutdown” Routine   Kitchens can get dirty and cluttered fast. But a few minutes spent cleaning up each evening can prevent the mess from getting out of control.4   Imagine your kitchen is a restaurant and you’re tidying it up before closing down for the night. These simple steps will prepare you for the morning rush:   Wipe down all surfaces, including countertops, stove, microwave, and sink. Then toss your soiled washcloth in the hamper and lay out a fresh one for tomorrow. Load and run the dishwasher every night so you can empty it the next morning. Prepare for breakfast by programming your coffee pot and setting out some grab-and-go options.   We all know it can be hard to find the energy for chores in the evening. But if you complete these small tasks each night, you’ll start the next day off right in a tidy, clean kitchen.     Think Outside of the Box When It Comes to Storage   Most of us have limited storage space. Unfortunately, without the right spots to stash our items, it’s easy to become disorganized.   But we’ve found that using household items in innovative ways can help keep mess and clutter under control.5 Here are a few of our favorite swaps: Place a magazine file in your kitchen for cookbooks, takeout menus, and meal kit cards. Hang a pocket-style shoe organizer inside your pantry door to store granola bars, spice jars, and other small items. Separate dress and athletic socks by turning an old shoe box into a drawer divider. Repurpose jam jars by using them to store office supplies or bathroom essentials. Store out-of-season clothes inside rarely-used suitcases, so all that space doesn’t go to waste.   A little creativity goes a long way when it comes to making the most of your space. Just be sure that you’re creating systems you can stick with and not putting things where you might forget about them later!     WE’RE HERE TO HELP YOU MAKE THE MOST OF YOUR HOME   Keeping your home clean and organized can be a continuous struggle—there’s no need to feel ashamed of that. But taking the time to implement systems that work for you can make life more pleasant and less stressful in the long run.   Remember, we’re not just here to help you buy or sell a home. We want you to love living in it, too. Reach out if you need referrals for house cleaners, window washers, or other service providers that can help you make the most of your space.     The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.   Sources: Healthline -https://www.healthline.com/health-news/5-health-benefits-of-spring-cleaning Forbes - https://www.forbes.com/health/mind/mental-health-clean-home/ My Domaine - https://www.mydomaine.com/house-cleaning-schedule Housewife How-Tos - https://housewifehowtos.com/clean/10-tips-to-keeping-a-clean-house/ Better Homes and Gardens - https://www.bhg.com/decorating/storage/projects/simple-solutions/

National Real Estate Market Update for 2023   There’s an old adage in real estate: location, location, location. But ever since the Federal Reserve began its series of inflation-fighting interest rate hikes last year, a new mantra has emerged: mortgage rates, mortgage rates, mortgage rates.   Higher rates had the immediate impact of dampening homebuyer affordability and demand. But this year, we’re seeing further repercussions. While analysts expected listing inventory to swell as sales declined, instead, homeowners have been pushing off plans to sell because they feel beholden to their existing, lower mortgage rates.   So what impact is this reduced demand and low supply environment having on home values? And what can we expect from the real estate market in the coming months and years? Here are several key indicators that help to paint a picture of the current market and where it’s likely headed.     HOME SALES ARE EXPECTED TO PICK UP BY EARLY NEXT YEAR   The weather isn’t the only thing that heats up in the spring and summer. Nationally, it tends to be the busiest time in real estate. But this year, the peak season got off to a slow start, with sales declines in both March and April.1,2 Existing home sales in April were down 3.4% from the previous month—and 23.2% from a year earlier.2   What’s causing this market slowdown? Industry experts attribute it to several factors, including near-record home prices, high mortgage rates, and low inventory.   According to National Association of Realtors (NAR) Chief Economist Lawrence Yun, “Home sales are trying to recover and are highly sensitive to changes in mortgage rates. Yet, at the same time, multiple offers on starter homes are quite common, implying more supply is needed to fully satisfy demand. It's a unique housing market.”1   However, some industry experts believe the market is poised for a comeback. Forecasters at the Mortgage Bankers Association (MBA) predict that home sales will continue to fall through Q3 before rising in Q4 and throughout next year.3  Analysts at Fannie Mae expect the recovery to take a bit longer, picking up in early 2024.   Meanwhile, home builder confidence is already up, as purchases of new single-family homes surged in March and April to a 13-month high.5 Builder incentives are helping to boost sales: According to the National Association of Home Builders, in May, 54% reported using them to win over budget-conscious buyers.6   What does it mean for you?  A slower pace of sales has given buyers some breathing room. If you hated the frenzy of the pandemic-era real estate market, now might be a better time for you to shop for a home. We can help you evaluate your options and make an informed purchase.   If you plan to sell your home, prepare yourself for less foot traffic and a longer sales timeline than you may have found a year ago. It will also be crucial to enlist the help of a skilled agent who knows how to draw in buyers. Reach out for a copy of our multi-step Property Marketing Plan.     PROPERTY VALUES REMAIN RELATIVELY STABLE   Some good news for buyers: While home builder sales climbed in April, the median new-house price fell to $420,800, an 8.2% decrease from a year ago.5 Meanwhile, the median existing-home price dropped to $388,800, down 1.7% year-over-year. Notably, existing-home prices rose in parts of the country but fell in the South and West.2   “Roughly half of the country is experiencing price gains,” explains Yun. “Multiple-offer situations have returned in the spring buying season following the calmer winter market. Distressed and forced property sales are virtually nonexistent.”2   The average national home price remains about 40% higher than it was in early 2020, according to the S&P CoreLogic Case-Shiller index.7 A tight housing supply has helped to buoy prices amidst a slowdown in sales.   “While it varies from region to region, home prices at the national level may fall 1% or 1.5% by the end of the year, so not much,” Doug Duncan, senior vice president and chief economist at Fannie Mae, told Yahoo Finance in April.8   Record levels of home equity will help to stabilize the sector and prevent a wave of foreclosures, even as prices moderate, according to Mark Zandi, chief economist at Moody’s Analytics.9   “But for those who have owned a home for more than a year or two, their home will remain a rock-solid investment. And once affordability is restored, the next generation of households can become homeowners. Getting there is critical to the financial well-being of those households, their communities, and the broader economy,” writes Zandi in The Washington Post.9   What does it mean for you?  Prices have softened in certain market segments—and motivated sellers are out there and willing to make deals. We can help you find your next home and negotiate a great price.   If you’re a homeowner, the surge in home values has slowed, but you’re likely still sitting on a nice pile of equity. Reach out for a free assessment to find out how much your home is currently worth.     LISTING INVENTORY IS LOW, BUT NEW CONSTRUCTION IS ON THE RISE   Unsold existing home inventory rose 7.2% from March to April, according to NAR. At the current level of demand, this equates to 2.9 months of supply, which is still well below the 5 to 6 months of inventory required for a “balanced” market.2   Inventory remains tight despite the market slowdown because many would-be sellers are reluctant to give up their lower mortgage rates. “Affordability is not only an issue for first-time homebuyers, but also for many repeat buyers who still need to take on a mortgage,” explains Danielle Hale, chief economist for Realtor.com.10   In a recent survey by the home listing site, 82% of respondents who are planning to both buy and sell a home said they feel “locked in” by their low rate.11   In some areas, new home construction is helping to fill the supply gap. “Currently, one-third of housing inventory is new construction, compared to historical norms of a little more than 10%,” according to National Association of Home Builders Chief Economist Robert Dietz.12   And more new homes are in the pipeline, after a builder slowdown last year. Single-family housing starts rose 1.6% from March to April (seasonally adjusted) and new construction permits hit a seven-month high.13   What does it mean for you?  Inventory remains tight, but less competition means more choice and negotiating power for buyers. If you’ve had trouble finding a home in the past, it may be time to take another look. We can help you explore both new and existing homes in our area.   Sellers are enjoying reduced competition right now, as well. However, the longer you wait to list, the more competition you’re likely to face. And if you feel locked in by your current, lower mortgage rate, consider this: If you roll your equity gains into a down payment on your next home, you could possibly lower your monthly payment. Reach out to discuss your options.     MORTGAGE RATES MAY FINALLY COME DOWN   According to Freddie Mac, the average 30-year fixed-rate mortgage hit a peak of 7.08% in the fourth quarter of 2022, and since then it’s primarily floated between 6 and 7%.14 However, there are signs that rates could trend lower later this year.   “Calmer inflation means lower mortgage rates, eventually,” Yun predicted in a recent statement. “Mortgage rates slipping down to under 6% looks very likely toward the year’s end.”15   Other leading economists agree. In its May forecast, Fannie Mae speculates that 30-year fixed mortgage rates will continue to decline, averaging 6.0% in Q4 2023 and 5.4% by Q4 2024.4 Meanwhile, the MBA predicts rates will fall even faster, averaging 5.6% by Q4 2023 and 4.8% by Q4 2024.3   On May 3, the Federal Reserve raised its benchmark borrowing rate by another quarter point—its 10th consecutive increase since March 2022. However, in its corresponding statement, the Fed omitted language from its previous release about “additional policy firming,” leaving some analysts to speculate that the rate hikes may be over.16   Although mortgage rates aren’t directly tied to the federal funds rate, a decision by the Fed to pause rate increases could have a positive effect. In the meantime, buyers should shop around multiple lenders to find the best rate—and buckle up for what could be an exciting ride.   What does it mean for you?  Mortgage rates may finally trend down, which would be great news for buyers. But, a decrease in rates could correspond with an increase in competition and prices. If you start searching now, you’ll be prepared to make an offer when the time is right. We can help you negotiate a great deal and potential seller incentives.   If you’re planning to sell, this is good news for you, too. But, there are several factors to consider when determining the right time to list your home. Reach out for a consultation so we can help you chart the best course.     WE’RE HERE TO GUIDE YOU   While national real estate forecasts can provide a “big picture” outlook, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the issues most likely to impact sales and drive home values in your particular neighborhood.   If you’re considering buying or selling a home, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals.     The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.   Sources: National Association of Realtors -https://www.nar.realtor/newsroom/existing-home-sales-slid-2-4-in-march National Association of Realtors -https://www.nar.realtor/newsroom/existing-home-sales-faded-3-4-in-april Mortgage Bankers Association -https://www.mba.org/docs/default-source/research-and-forecasts/forecasts/2023/mortgage-finance-forecast-may-2023.pdf?sfvrsn=4bf1d1a7_1 Fannie Mae -https://www.fanniemae.com/media/47006/display S. Census Bureau - https://www.census.gov/construction/nrs/current/index.html National Association of Home Builders -https://www.nahb.org/news-and-economics/press-releases/2023/05/lack-of-existing-inventory--boosts-builder-confidence-to-key-marker New York Times -https://www.nytimes.com/2023/04/29/business/spring-housing-market.html? Yahoo Finance -https://finance.yahoo.com/news/mortgage-rates-increase-after-weeks-of-declines-160015631.html The Washington Post -https://www.washingtonpost.com/business/2023/04/22/housing-prices-put-some-out-of-the-market/ CNBC -https://www.cnbc.com/2023/04/20/home-sales-fell-in-march-amid-volatility-in-mortgage-rates.html com -https://www.realtor.com/research/2023-q1-sellers-survey-btts/ National Association of Home Builders - https://www.nahb.org/news-and-economics/press-releases/2023/04/lack-of-existing-inventory-continues-to-support-builder-sentiment United State Census Bureau -https://www.census.gov/construction/nrc/pdf/newresconst.pdf Freddie Mac -https://www.freddiemac.com/pmms National Association of Realtors - https://www.nar.realtor/blogs/economists-outlook/instant-reaction-inflation-april-12-2023 CNBC - https://www.cnbc.com/2023/05/03/fed-rate-decision-may-2023-.html

8 Popular Home Design Features   There’s a lot to consider when selling your home, from the market and appraisals to where you’ll go next. Don’t forget, however, that design is also a key factor. It’s often one of the first things buyers notice when they walk into a home, and it’s also a detail that you, as a seller, can easily control. Keep in mind, not all of these will work well in every house. If you plan to buy, list, or renovate a property, give us a call. We can help you realize your vision and maximize the impact of your investment.   Eco-Friendly Fixtures   Millennials account for the largest share of current homebuyers, according to the National Association of Realtors.2 Sustainable living tops the list of priorities for this generation. A recent Deloitte survey found that nearly one-third of millennials initiate or deepen their consumer investment in products or services that help the environment—this also includes the houses they choose to live in.3   Here are a few eco-friendly design features that will be attractive to these millennial buyers. Bonus, they can net a significant return on investment (ROI) for you, as a seller, too.   Energy-Efficient Windows: Heat gain or loss from low-performance windows drives 25–30 percent of home heating and cooling costs, according to gov.4 Therefore, energy-efficient windows can help homeowners save money. Low-Flow Water Fixtures: According to the EPA, replacing your shower head with one that’s labeled with WaterSense can save four gallons of water with each shower.5 Doing the same with your faucet can save 700 gallons per year. This leads to cost savings and environmental support. Native Landscaping: According to the American Society of Landscape Architects, 58 percent of members report increased client demand for native trees and plants as a means to combat biodiversity loss from climate change..6 Enhance the eco-friendly appeal of your home with some native plants in the front yard.   Wellness Retreat Nooks   The pandemic has had a significant impact on mental health. For example, in an effort to prioritize mental health, many people are relocating to quieter, more peaceful homes, with 22 percent of city dwellers planning a move to less congested residential areas, according to the Home Improvement Research Institute’s (HIRI) 2021 Insights Summit.7   However, no matter where you live, you can still intrigue buyers by jumping on this trend. At-home wellness amenities, which were once viewed as luxuries, are now on many homeowners’ must-have lists. Indoor spaces that function as a retreat for wellness and self-care have become extremely popular, according to HIRI.   Improve your quality of life in your home with reading nooks, spa-inspired bathrooms, and exercise or meditation spaces. Even if your house doesn’t have the square footage to section off an entire room for relaxation, making simple tweaks to natural light, air purifiers, and indoor plants can help you feel better in your home now while enabling future buyers to see the opportunity for their own space.   Calming Paint Colors   Paint colors that produce a calming atmosphere will also be a key selling point. Soft earth tones and natural hues will prevail this year, including various shades of blue, green,  brown, and beige. Recent research suggests steering clear of trendy paint colors in favor of a more classic palette to bring the feel of nature indoors in a subtle and soothing way.8   In fact, the same research found that buyers are often willing to pay an extra $4,698 for a house with a light blue bathroom or an extra $1,491 for a house with a dark blue bedroom. Another crowd-pleasing hue to refresh the walls with is BEHR’s 2022 paint color of the year, known as Breezeway.9   This shade of green with silver undertones was created to mimic sea glass. As the BEHR website describes it, Breezeway “evokes feelings of coolness and peace, while representing a desire to move forward and discover newfound passions.”    Home Safety Features   Buyers want peace of mind more now than ever before. According to a 2021 survey from the American Institute of Architects, members report seeing an increase in the popularity of these home safety features10:   Emergency backup power generation Accommodations for multiple generations Wider accessible doorways and hallways Home security monitoring equipment Interior ramps and home elevator features Consider how you can build home safety features like these into the design of your home to enhance your quality of life now and attract more buyers later. For example, you could install a backup generator in the garage and sell it with the house or update your major doorways to be wider.   Before making an investment in expensive home safety upgrades, contact us. We can help you determine what will deliver the greatest ROI for your location and goals.   Designated Work Spaces   It may come as no surprise that after the pandemic, 63 percent of homebuyers want their next house to feature room for a designated office, according to the National Association of Home Builders.11 In addition, 70 percent of these buyers want the office to be at least 100 square feet (or a 10x10 room).      If you can, consider turning a bedroom or a den into a work-from-home office. When designing the space, make it both functional and aesthetically pleasing. Position a desk near the window for natural light, install a bookshelf unit, arrange a few succulents on the work surface, and hang a few framed posters or a cork bulletin board on the wall. You want the space to foster productivity as well as be a place in your home you enjoy spending time.   When you get ready to sell, we can help you highlight your designated work space. Given the high demand for this design feature, it can help you interest more buyers and attract more competitive offers—if marketed creatively.   Luxury Kitchen Retouches   The kitchen has always been a main focal point of interior design, and that’s no different in 2023. Families will always need this space to come together in their own homes.   This year’s buyers want a kitchen with new upgrades and retouches, but you don’t have to renovate the entire kitchen to make an impact. If you’re not sure where to start, here are a few tips on how to create a kitchen that buyers will love without spending too much money on renovations:   Repaint the kitchen, keeping the calm and nature-inspired colors in mind that are most popular right now. Taking a kitchen from dark to light by painting cabinets and walls can make all the difference. Update the hardware. These kitchen “accessories” stand out and add personality to an otherwise standard kitchen. Update light fixtures to bring in more light while also adding a fresh look and feel to the space.   Unique Accent Walls   In a recent interview with the National Association of Realtors, Brian Santos, the director of education for Fresh Coat Painters, explains that bold, unique accent walls are trendy right now.12 An accent wall gives a home character while maintaining the calming feel of natural- and neutral-colored walls.   Santos also explains that this is part of a design aesthetic that draws inspiration from the Roaring Twenties, and it’s likely to remain a sought-after home feature. Here are some bold colors to consider for your home’s accent walls:   Solid black Jewel or metallic tones Textured wallpaper Painted ceilings Built-in shelves   If you’re planning to sell in the next year, talk to us before adding an accent wall. Depending on your target buyer, it may be a design feature that actually hurts your home’s value. We can run a free Comparative Market Analysis on your home to help you understand what would resell best in your neighborhood.   Exterior Siding Updates   A new exterior siding refresh is one of the most affordable renovation projects you can do to help increase a home’s resale value. The average cost is just $12 per square foot, but higher-end material options can push costs closer to  $50 per square foot.13 What’s more, there are many siding materials available, from fiber-cement, brick, and wood to vinyl, metal, and stone.   While all these options can infuse the exterior with character and add curb appeal, fiber-cement and vinyl deliver the highest ROI. In fact, according to a 2021 Cost vs. Value Report, a vinyl siding replacement can boost resale value by $11,315 (68.3 percent cost recoup), and a fiber-cement siding replacement can boost resale value by $13,618 (69.4 percent cost recoup).14   Give your home this simple, affordable, and attractive facelift before putting it on the market. If you’re not sure how to get started yourself, our team can connect you with a trusted vendor to guide you through the process.   Keep These Home Design Features on Your Radar   These design features can infuse personality into your home while helping to close the deal if you plan to sell in 2023-24. The average buyer knows just what they’re looking for in a space they plan to call home, so with some investment and foresight, you can give your house an edge over the competition—and boost resale value in the process.   However, you don’t need to make all these changes to attract more buyers. We can help you determine which design features you should add to your home by sharing insights and tips on how to maximize the return on your investment. We can also run a Comparative Market Analysis on your home to find out how it compares to others in the area, which will help us decide what changes need to be made. Contact us to schedule a free consultation!   Sources: Realtor - https://www.realtor.com/research/2022-national-housing-forecast/ National Association of Realtors - https://www.nar.realtor/research-and-statistics/research-reports/home-buyer-and-seller-generational-trends Deloitte - https://www2.deloitte.com/content/dam/Deloitte/global/Documents/2021-deloitte-global-millennial-survey-report.pdf gov - https://www.energy.gov/energysaver/update-or-replace-windows gov - https://www.epa.gov/watersense/about-watersense American Society of Landscape Architects - https://www.asla.org/NewsReleaseDetails.aspx?id=60427 Home Improvement Research Institute - https://www.hiri.org/blog/4-major-home-wellness-trends-from-hiri-summit-speaker-dr-jie-zhao Zillow - http://zillow.mediaroom.com/2021-07-15-Homes-With-Light-Blue-Bathrooms,-Dark-Blue-Bedrooms-Could-Sell-for-Up-to-4,698-More-Than-Expected Behr - https://www.behr.com/colorfullybehr/behr-announces-2022-color-of-the-year-and-trends-palette/ American Institute of Architects - http://info.aia.org/AIArchitect/2021/0910/aia-interactive/index.html# National Association of Home Builders - ​​https://www.nahb.org/-/media/NAHB/news-and-economics/docs/housing-economics-plus/special-studies/2021/special-study-what-home-buyers-really-want-march-2021.pdf?_ga=2.188050984.1824982414.1639512139-1247360189.1639512139 National Association of Realtors - https://www.nar.realtor/blogs/styled-staged-sold/hot-home-trend-the-accent-wall-is-back Forbes - https://www.forbes.com/advisor/home-improvement/how-much-does-siding-cost-to-install/ Remodeling Magazine - https://www.remodeling.hw.net/cost-vs-value/2021/

Real Estate Relocation Guide: 7 Steps to a Seamless Move  Whatever your reasons are for relocating to a new area, the process can feel overwhelming. Whether you’re moving across across town or across the country, you’ll be changing more than your address. Besides a new house, you may also be searching for new jobs, schools, doctors, restaurants, stores, service providers and more.   Of course you’ll need to pack, make moving arrangements, and possibly sell your old home. With so much to do, you may be wondering: Where do I start?   In this guide, we outline seven steps to help you get prepared, get organized, and get settled in your new community. Our hope is to alleviate the hassle of relocating—so you can focus on the exciting adventure ahead!     Gather Information   If you’re unfamiliar with your new area, start by doing some research.1 Look for data on average housing prices, demographics, school rankings and crime statistics. Search for maps that illustrate local geography, landmarks, public transportation routes and major interstates. If you’re moving across the country, research climate and seasonal weather patterns.   Check out local newspapers and blogs for information on political issues and developments that could impact your new community. You may also want to search for online forums and Facebook Groups relevant to your new area. These can be a great place to find information, ask questions and just observe local attitudes and outlooks.   If you’re relocating for a job, find out if your new employer offers any relocation assistance. Many large corporations have a designated human resources professional to assist employees with relocation efforts, while others may contract this service out to a third party. Some employers will also cover all or a portion of your relocation and moving costs.   By gathering this information up front, you’ll be better prepared to make informed decisions down the road.   Let us know if you’d like assistance with your information gathering process. We have a wealth of knowledge about this area, and we keep a number of reports and statistics on file in our office. We would be happy to share information and answer any questions you may have.     Identify Your Ideal Neighborhoods   Once you’ve sufficiently researched your new area, you can start to identify your ideal neighborhoods.   The first step is to prioritize your “needs” and “wants.” Consider factors such as budget; commute time; quality of schools; crime rate; walkability; access to public transportation; proximity to restaurants, shopping, and place of worship; and neighborhood vibe.   If possible, visit the area in person to get a feel for the community. If you’re comfortable, strike up conversations with local residents and ask about their experiences living in the area.   Still not sure which neighborhood is the best fit for you and your family? Contact a local real estate agent for expert assistance. It’s usually the most efficient and effective way to narrow down your options.   We provide neighborhood assessments and advice as a free service if you’re relocating to our area. Or, if you’re moving out of town, we can refer you to a local agent who can help.     Find Your New Home (and Sell Your Old One)   Once you’ve narrowed down your list of preferred neighborhoods, it’s time to start looking for a home. If you haven’t already contacted a real estate agent, now is the time. They can search for current property listings that meet your needs, typically at no cost to you.   Create another list of “needs” and “wants,” but this time for your new home. Include your basic requirements for square footage, bedrooms and bathrooms, but also think about what other factors are important to you and your family. An updated kitchen? A large backyard? Double sinks in the master bathroom?   Narrow your list down to your top 10 and prioritize them in order of importance.2 This will give you a good starting point to begin your home search. Unless you have an unlimited budget, don’t expect to find a home with everything on your list. But having a prioritized list can help you (and your agent) understand which home features are the most important, and which ones you may be willing to sacrifice.   If you already own a home, you’ll also need to start the process of selling it or renting it out. A real estate agent can help you evaluate your options based on current market conditions. He or she can also give you an idea of how much equity you have in your current home so you know how much you can afford to spend on your new one.   Your agent can also advise you on how to time your sale and purchase. While some buyers are able to qualify for and cover the costs of two concurrent mortgages, many are not. There are a number of options available, and a skilled agent can help you determine the best course given your circumstances.   We would love to assist you if you have plans to buy or sell a home in our area. Please contact us to schedule a free consultation so we can discuss your unique needs and devise a custom plan to make your relocation as seamless as possible. If you’re relocating outside of our area, we can help you find a trusted agent in your new city.     Prepare for Your Departure   While everyone considers packing a fundamental part of moving, we often overlook the emotional preparation that needs to take place. If you have children, this can be especially important. Communicate the move in an age-appropriate way, and if possible take them on a tour of your new home and neighborhood. This can alleviate some of the mystery and apprehension around the move.4   Allow yourself plenty of time to pack up your belongings. Before you start, gather supplies, including boxes, tape, tissue paper and bubble wrap. Begin with non-essentials—such as off-season clothes or holiday decorations—and sort items into four categories: take, trash, sell and donate/give away.5   To make the unpacking process easier, be sure to label the top and sides of boxes with helpful information, including contents, room, and any special instructions. Keep a master inventory list so you can refer back to it if something goes missing.   If you will be using a moving company, start researching and pricing your options. To ensure an accurate estimate of your final cost, it’s best to have them conduct an in-person walkthrough. Make sure you’re working with a reputable company, and avoid paying a large deposit before your belongings are delivered.6   If you plan to drive to your new home, map out the route. And, if necessary, make arrangements for overnight accommodations along the way. If driving is not a good option, you may need to have your vehicles transported and make travel arrangements for you, your family and your pets.   Lastly, if you will be leaving friends or family behind, schedule final get-togethers before your departure. The last days before moving can be incredibly hectic, so make sure you block off some time in advance for proper goodbyes.   Looking for a reputable moving company? We are happy to provide referrals, as well as recommendations on where to procure packing supplies in our area.     Prepare for Your Arrival   To make your transition go smoothly, prepare for your arrival well before moving day. Depending on how long your belongings will take to arrive, you may need to arrange for temporary hotel accommodations. If you plan to move in directly, pack an “essentials box” with everything you’ll need for the first couple of nights in your new home, such as toiletries, toilet paper, towels, linens, pajamas, cell phone chargers, snacks, pet food and a change of clothes.7 This will keep you from searching through boxes after an exhausting day of moving.   Arrange in advance for your utilities to be turned on, especially essentials like water, electricity and gas. (And while you’re at it, schedule a shut-off date for your current utilities.) Update your address on all accounts and subscriptions and arrange to have your mail forwarded through the postal service. If you have children, register them for their new school or daycare and arrange for the transfer of any necessary records.   You may want to have the house professionally cleaned before moving in. And if you plan to remodel, paint or install new flooring, it’s easier to have it done before you bring in all of your belongings.8 However, it’s not always feasible without someone you trust locally who can supervise. Another option is to keep a portion of your things in storage while you complete some of these projects.    If there are no window treatments, you may need to install some (or at least put up temporary privacy film), especially in bedrooms and bathrooms. And if appliances are missing, consider purchasing them ahead of time and arranging for delivery and installation shortly after you arrive. Just be sure to check measurements and installation instructions carefully so you aren’t stuck with an appliance that doesn’t fit or that requires costly modifications to your new home.   If you own a car, check the requirements for a driver’s license and vehicle registration in your new area and contact your insurance company to update your policy.8 If you will rely on public transportation, research options and schedules.   If you’re relocating to our area, we can help! We offer “VIP Relocation Assistance” to all of our buyer clients. Contact us for a list of preferred hotels, utility providers, housekeepers, contractors and more!     Get Settled In Your New Home   While staring at an endless pile of boxes can feel daunting, you should take advantage of this opportunity to make a fresh start. By creating a plan ahead of time, you can ensure your new house is thoughtfully laid out and well organized.   If you followed our suggestion to pack an “essentials box” (see Step 5), you should have easy access to everything you’ll need to get you through the first couple of nights in your new home. This will allow you some breathing room to unpack your remaining items in a deliberate manner, instead of rushing through the process.7   If you have young children, consider unpacking their rooms first. Seeing their familiar items can help them establish a sense of comfort and normalcy during a confusing time. Then move on to any items you use on a daily basis.10   Pets can also get overwhelmed by a new, unfamiliar space. Let them adjust to a single room first, which should include their favorite toys, treats, food and water bowl, and a litter box for cats. Once they seem comfortable, you can gradually introduce them to other rooms in the home.11   As you unpack, make a list of items that need to be purchased so you’re not making multiple trips to the store. Also, start a list of needed repairs and installations. If you have a home warranty, find out what’s covered and the process for filing a service order.   Although you may be eager to get everything unpacked, it’s important to take occasional breaks. Have some fun, relax and explore your new hometown!   Need help with unpacking, organizing or decorating your new home? Contact us for a list of recommended professionals in our area. And when you’re ready to start exploring local “hot spots,” we’d love to fill you in on our favorite restaurants, stores, parks and other attractions!     Get Involved In Your New Community   Studies show that moving can lead to feelings of loneliness and depression. People who have recently moved tend to be isolated socially, more stressed, and less likely to participate in exercise and hobbies. However, there are ways to combat these negative effects.12   First, get out and explore. In a 2016 study, recent movers were shown to spend less time on physical activities and more time on their computers, which has been proven to lead to feelings of depression and loneliness. Instead, get out of your house and investigate your new area. And if you travel by foot, you’ll gain the advantages of fresh air and exercise.12   Combat feelings of isolation by making an effort to meet people in your new community. Find a local interest group, take a class, join a place of worship or volunteer for a cause. Don’t wait for friends to come knocking on your door. Instead, go out and find them.   Finally, be a good neighbor. Make an effort to introduce yourself to your new neighbors, invite them over for coffee or dinner, and offer assistance when they need it. Once you’ve developed friendships and a support system within your new neighborhood, it will truly start to feel like home.   Want more ideas on how to get involved in your community? Contact us for a free copy of our report, “Welcome Home: 10 Tips to Turn Your Neighborhood Into a Hometown Haven.”     LET’S GET MOVING   While moving is never easy, these seven steps offer an action plan to get you started on your new adventure. To avoid getting overwhelmed, focus on one step at a time. And don’t hesitate to ask for help!   In a 2015 study, 61 percent of participants ranked moving at the top of their stress list, above divorce and starting a new job.13 But with a little preparation—and the right team of professionals to assist you—it is possible to have a positive relocation experience.   We specialize in assisting home buyers and sellers with a seamless and “less-stress” relocation. Along with our referral network of movers, handymen, housekeepers, decorators, contractors and other service providers, we can help take the hassle and headache out of your upcoming move. Give us a call or message us to schedule a free, no-obligation consultation!       Sources: You Move Me - https://www.youmoveme.com/us/blog/105-tips-for-a-successful-relocation com - https://www.houselogic.com/buy/house-hunting/must-have-items/ Livestrong - https://www.livestrong.com/article/436651-the-effects-of-sunlight-fresh-air-on-the-body/ Parents Magazine - https://www.parents.com/parenting/money/buy-a-house/make-moving-easier-on-you-and-your-kids/ The Spruce - https://www.thespruce.com/starting-to-pack-for-your-move-2436470 com -https://www.moving.com/tips/hiring-quality-movers/ The Spruce - https://www.thespruce.com/unpack-your-entire-home-2435815 com -https://www.houselogic.com/buy/moving-in/before-you-move/ HGTV - https://www.hgtv.com/design/real-estate/moving-checklist com - https://www.moving.com/tips/how-to-unpack-and-organize-your-house/ ASPCA - https://www.aspca.org/pet-care/general-pet-care/moving-your-pet Psychology Today - https://www.psychologytoday.com/us/blog/is-where-you-belong/201607/why-youre-miserable-after-move The Daily Express - https://www.express.co.uk/news/uk/574171/Divorce-stressful-moving-home

  Take Advantage of Your Home Equity: A Homeowner’s Guide   Homeownership offers many advantages over renting, including a stable living environment, predictable monthly payments, and the freedom to make modifications. Neighborhoods with high rates of homeownership have less crime and more civic engagement. Additionally, studies show that homeowners are happier and healthier than renters, and their children do better in school.1   But one of the biggest perks of homeownership is the opportunity to build wealth over time. Researchers at the Urban Institute found that homeownership is financially beneficial for most families,2 and a recent study showed that the median net worth of homeowners can be up to 80 times greater than that of renters in some areas.3   So how does purchasing a home help you build wealth? And what steps should you take to maximize the potential of your investment? Find out how to harness the power of home equity for a secure financial future.     WHAT IS HOME EQUITY?   Home equity is the difference between what your home is worth and the amount you owe on your mortgage. So, for example, if your home would currently sell for $250,000, and the remaining balance on your mortgage is $200,000, then you have $50,000 in home equity.   $250,000 (Home’s Market Value) -           $200,000 (Mortgage Balance) ______________________________              $50,000 (Home Equity)   The equity in your home is considered a non-liquid asset. It’s your money; but rather than sitting in a bank account, it’s providing you with a place to live. And when you factor in the potential of appreciation, an investment in real estate will likely offer a better return than any savings account available today.     HOW DOES HOME EQUITY BUILD WEALTH?   A mortgage payment is a type of “forced savings” for home buyers. When you make a mortgage payment each month, a portion of the money goes towards interest on your loan, and the remaining part goes towards paying off your principal, or loan balance. That means the amount of money you owe the bank is reduced every month. As your loan balance goes down, your home equity goes up.   Additionally, unlike other assets that you borrow money to purchase, the value of your home generally increases, or appreciates, over time. For example, when you pay off your car loan after five or seven years, you will own it outright. But if you try to sell it, the car will be worth much less than when you bought it. However, when you purchase a home, its value typically rises over time. So when you sell it, not only will you have grown your equity through your monthly mortgage payments, but in most cases, your home’s market value will be higher than what you originally paid. And even if you only put down 10% at the time of purchase—or pay off just a small portion of your mortgage—you get to keep 100% of the property’s appreciated value. That’s the wealth-building power of real estate.     WHAT CAN I DO TO GROW MY HOME’S EQUITY FASTER?   Now that you understand the benefits of building equity, you may wonder how you can speed up your rate of growth. There are two basic ways to increase the equity in your home:   Pay down your mortgage.   We shared earlier that your home’s equity goes up as your mortgage balance goes down. So paying down your mortgage is one way to increase the equity in your home.   Some homeowners do this by adding a little extra to their payment each month, making one additional mortgage payment per year, or making a lump-sum payment when extra money becomes available—like an annual bonus, gift, or inheritance.   Before making any extra payments, however, be sure to check with your mortgage lender about the specific terms of your loan. Some mortgages have prepayment penalties. And it’s important to ensure that if you do make additional payments, the money will be applied to your loan principal.   Another option to pay off your mortgage faster is to decrease your amortization period. For example, if you can afford the larger monthly payments, you might consider refinancing from a 30-year or 25-year mortgage to a 15-year mortgage. Not only will you grow your home equity faster, but you could also save a bundle in interest over the life of your loan.   Raise your home’s market value.   Boosting the market value of your property is another way to grow your home equity. While many factors that contribute to your property’s appreciation are out of your control (e.g. demographic trends or the strength of the economy) there are things you can do to increase what it’s worth.   For example, many homeowners enjoy do-it-yourself projects that can add value at a relatively low cost. Others choose to invest in larger, strategic upgrades. Keep in mind, you won’t necessarily get back every dollar you invest in your home. In fact, according to Remodeling Magazine’s latest Cost vs. Value Report, the remodeling project with the highest return on investment is a garage door replacement, which costs about $3600 and is expected to recoup 97.5% at resale. In contrast, an upscale kitchen remodel—which can cost around $130,000—averages less than a 60% return on investment.4   Of course, keeping up with routine maintenance is the most important thing you can do to protect your property’s value. Neglecting to maintain your home’s structure and systems could have a negative impact on its value—therefore reducing your home equity. So be sure to stay on top of recommended maintenance and repairs.     HOW DO I ACCESS MY HOME EQUITY IF I NEED IT?   When you put your money into a checking or savings account, it’s easy to make a withdrawal when needed. However, tapping into your home equity is a little more complicated.   The primary way homeowners access their equity is by selling their home. Many sellers will use their equity as a downpayment on a new home. Or some homeowners may choose to downsize and use the equity to supplement their income or retirement savings.   But what if you want to access the equity in your home while you’re still living in it? Maybe you want to finance a home renovation, consolidate debt, or pay for college. To do that, you will need to take out a loan using your home equity as collateral.   There are several ways to borrow against your home equity, depending on your needs and qualifications:5   Second Mortgage - A second mortgage, also known as a home equity loan, is structured similar to a primary mortgage. You borrow a lump-sum amount, which you are responsible for paying back—with interest—over a set period of time. Most second mortgages have a fixed interest rate and provide the borrower with a predictable monthly payment. Keep in mind, if you take out a home equity loan, you will be making monthly payments on both your primary and secondary mortgages, so budget accordingly.   Cash-Out Refinance - With a cash-out refinance, you refinance your primary mortgage for a higher amount than you currently owe. Then you pay off your original mortgage and keep the difference as cash. This option may be preferable to a second mortgage if you have a high interest rate on your current mortgage or prefer to make just one payment per month.   Home Equity Line of Credit (HELOC) - A home equity line of credit, or HELOC, is a revolving line of credit, similar to a credit card. It allows you to draw out money as you need it instead of taking out a lump sum all at once. A HELOC may come with a checkbook or debit card to enable easy access to funds. You will only need to make payments on the amount of money that has been drawn. Similar to a credit card, the interest rate on a HELOC is variable, so your payment each month could change depending on how much you borrow and how interest rates fluctuate.   Reverse Mortgage - A reverse mortgage enables qualifying seniors to borrow against the equity in their home to supplement their retirement funds. In most cases, the loan (plus interest) doesn’t need to be repaid until the homeowners sell, move, or are deceased.6   Tapping into your home equity may be a good option for some homeowners, but it’s important to do your research first. In some cases, another type of loan or financing method may offer a lower interest rate or better terms to fit your needs. And it’s important to remember that defaulting on a home equity loan could result in foreclosure. Ask us for a referral to a lender or financial adviser to find out if a home equity loan is right for you.     WE’RE HERE TO HELP YOU   Wherever you are in the equity-growing process, we can help. We work with buyers to find the perfect home to begin their wealth-building journey. We also offer free assistance to existing homeowners who want to know their home’s current market value to refinance or secure a home equity loan. And when you’re ready to sell, we can help you get top dollar to maximize your equity stake. Contact us today to schedule a complimentary consultation!     The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.     Sources: National Association of Realtors -https://www.nar.realtor/blogs/economists-outlook/highlights-from-social-benefits-of-homeownership-and-stable-housing Urban Institute - https://www.urban.org/urban-wire/homeownership-still-financially-better-renting Census Bureau -https://www.census.gov/library/stories/2019/08/gaps-in-wealth-americans-by-household-type.html Remodeling Magazine -https://www.remodeling.hw.net/cost-vs-value/2019/ Investopedia -https://www.investopedia.com/mortgage/heloc/home-equity/ Bankrate -https://www.bankrate.com/mortgage/reverse-mortgage-guide/    

Home for the Holidays: How To Stretch Your Budgetin a Season of Inflation   You don't have to break the bank to celebrate the holidays in style—even in this season of inflation. Prices may be higher on everything from food to gifts to decorations, but there are still plenty of opportunities to eke out extra savings.   For example, according to the U.S. Environmental Protection Agency (EPA), you can save a couple of hundred dollars a year just by sealing your home and boosting its insulation.1 Other small fixes—such as swapping old light bulbs for LEDs and plugging electronics into a powerstrip—can boost your yearly savings enough to pay off some of your holiday budget.   And thanks to a pandemic-era boom in online shopping, it is easier than ever to find deals on new and pre-owned furniture, thrifted gifts, DIY decor, and more. Even secondhand stalwarts like Goodwill have joined the digital fray, making it a cinch to score gently-used treasures at extra-low prices.2   You won't be the only one bargain-hunting your way to a more financially-stable New Year. Multiple surveys have found that inflation is not only chilling people's spending, it's also prompting shoppers to search for better deals and creative ways to reduce their bills.3   Here are some strategies you can use to boost your holiday budget by trimming household expenses:     Hunt for Deals on Groceries   If you're finding it harder than it used to be to serve your family dinner on a budget, you're not alone. With the U.S. food-at-home index (a measure of grocery price inflation) at a 43-year high, many families are struggling to control costs on food staples, such as meat, dairy, produce, and grains.4   That's made pulling off holiday gatherings especially stressful lately. But don't despair: Even with inflation, retailers are still giving motivated shoppers plenty of opportunities to whittle down their bills.   The key is to pay attention to the cost of each item on your shopping list—not just the most expensive—and look for easy swaps and discounts. For example, try buying non-perishable items in bulk, especially when they’re on sale, and only in-season produce. Or trade name-brand goods for less expensive options from a store's private label. As you tap into your inner bargain hunter, you could be surprised by what you save when you’re more mindful of your selections.   And unlike in the old days, you no longer have to clip your way through paper flyers to snag a bargain. Instead, you can save both time and money by scouting for deals online, digitally clipping coupons, and earning cash back through special apps and browsers. For example, coupon aggregation sites, like Coupons.com, and shopping apps—such as Checkout 51 and Ibotta—make it easy to score discounts and cash back on a variety of purchases, including groceries.   Also, check to see if your neighborhood grocer posts their weekly flyers online. If you're hosting a holiday party, the markdowns you find can help you narrow your food and recipe choices, based on what's currently on sale.     Prep Your Home for Holiday Guests With Pre-Owned Finds   You don't have to sacrifice style for the sake of preserving your holiday budget either. If you're expecting company this year and would like to add some festive flair to your home, you can do so inexpensively—especially if you're willing to decorate with items that are secondhand.   Thrifting is back in vogue, with an increasing number of shoppers preferring pre-owned furniture and home goods. A recent study found that the “recommerce” market grew almost 15% last year, which was twice the pace of general retail.5 Plus, buying used isn’t just a great way to save money, it also helps the environment by keeping reusable items out of landfills.   Fortunately, it’s become easier to score secondhand deals online. For example, you can scout consumer marketplaces on Facebook, Craigslist, and OfferUp. Or you can take advantage of neighborhood freecycles and “Buy Nothing” groups. And a number of thrift shops now have e-commerce sites, including major chains, like Goodwill.   If you're handy with a paintbrush or have some basic carpentry skills, you can also modernize some of your existing furniture by upcycling it yourself. Or, if you enjoy crafting, search through your own recycling or sewing bin for raw material to make one-of-a-kind decorations.   Don't stress yourself out, though, if you don't have the time or money to dress your home the way you hoped. “A house doesn’t have to be perfect or completely done for it to feel festive or inviting,” designer Justina Blakeney noted in an interview with the Washington Post. “These are family and friends, and they are not judging you.”6     Forgo Major Renovations in Favor of DIY Home Improvements   Holidays are always a tricky time to undergo big renovations. But with ongoing worker and material shortages, now is an especially bad time to commit. Inflated costs can add thousands to your reno budget –—and unnecessary stress to your holiday.   Instead of suffering through an ill-timed remodel, you're better off saving this time of year for simpler, less expensive projects you can do yourself.   One winter-perfect upgrade to consider: Build a DIY fire pit so that you and your guests can roast marshmallows and relax in the cozy comfort of your backyard. You can also add some extra ambiance by hanging energy-efficient LED outdoor string lights that change from white to colorful. These are festive enough for the holidays, but also versatile enough to use year-round.   Or, if you'd rather curl up by an indoor fire, channel your DIY energy into a fireplace upgrade. Adding a wooden beam to the top of your mantel can add an extra layer of coziness. Alternatively, re-tiling or painting your fireplace surround can lend contemporary flair.   Just be sure to stick to DIY projects that you know you can do a quality job on—especially if your changes will be difficult to reverse. Feel free to reach out for a free assessment to find out how your planned renovations could impact your home’s resale value.     Invest in Home Maintenance Projects That Cut Your Utility Bills   You can save money by completing basic home maintenance tasks , such as swapping your furnace filter and updating your lightbulbs. But if you really want to lower your bills this winter, consider projects that make your home more energy efficient.   According to the EPA, 9 out of 10 homes in the U.S. are under-insulated, which wastes energy and money.7 Luckily, there are plenty of DIY insulation projects that you can complete in just a few days. For example, the EPA offers guides on how to:   Insulate your attic or basement crawl space Weatherstrip doors and windows Seal areas around the house that may be leaking air, including electrical outlets and fireplaces   The savings you get from these projects can really add up. The EPA estimates that sealing and insulating your ducts can make your HVAC system up to 20% more efficient.8 And thanks to new provisions from the Inflation Reduction Act, you can also save a bundle this year by investing in certain energy-efficient upgrades and claiming a tax credit.9 Be sure to check with us about any local rebates and incentives that may be available, too, before getting started on a project.     Use Expense Tracking to Boost Your Holiday Budget       To avoid overextending yourself during the holidays, one of the best things you can do is track your income and expenses. If your monthly budget is usually tight, you may need to make some adjustments to free up cash for holiday expenditures.   For example, here's a sample budget worksheet that we created. Start by adding in your expenses: Under the “Typical” column, you can list your standard expenses, and under the “Adjusted” column, list any areas where you could cut back on spending.   Then consider how your standard wages may be adjusted this month by extra shifts, additional tips, or an end-of-year bonus. By decreasing your spending and/or increasing your income, you can build room in your budget for holiday gifts and gatherings.   HOUSEHOLD BUDGET WORKSHEET   Typical Adjusted Difference (+/-) HOUSING Mortgage/taxes/insurance or Rent       Utilities (electricity, water, gas, trash)       Phone, internet, cable       Home maintenance and repairs       FOOD Groceries       Restaurants       TRANSPORTATION Car payment/insurance       Gas, maintenance, repairs       OTHER Health insurance       Clothing and personal care       Childcare       Entertainment       Charitable contributions       Savings, retirement, college fund       INCOME Salary/wages       Bonus, tips, other       MONTHLY TOTALS Total Adjusted Income   Total Adjusted Expenses - EXTRA SAVINGS FOR YOUR HOLIDAY BUDGET     Feel free to utilize this worksheet as a template that you can personalize to your needs, or ask us for a PDF copy that you can print out and use right away.     WE’RE HERE TO HELP   We would love to help you meet your financial goals now and in the year ahead. Whether you want to find lower-cost alternatives for home renovations, maintenance, or services, we are happy to provide our insights and referrals.   And if you’re saving up to buy a new home, we can help with that, too. This is the perfect time to score a great deal because only the most motivated homebuyers and sellers are active in the market right now. So reach out to schedule a free consultation. We can fill you in on some of the exciting programs and incentives we’re seeing that help make homeownership more affordable.     The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.   Sources: S. Environmental Protection Agency (EPA) - https://www.energystar.gov/campaign/waysToSave#!card0-GW91 USA Today - https://www.usatoday.com/story/money/retail/2022/10/05/goodwill-launches-online-store-goodwillfinds-website/8185084001/ Retail Dive - https://www.retaildive.com/news/inflation-drives-shopping-changes-consumers-survey/629973/ NBC News - https://www.nbcnews.com/select/shopping/how-save-groceries-ncna1299053 CNBC - ​​https://www.cnbc.com/2022/09/14/secondhand-shopping-is-booming-heres-how-much-you-can-save.html Washington Post - https://www.washingtonpost.com/home/2021/11/09/holiday-entertaining-tips/ S. Environmental Protection Agency - https://www.energystar.gov/campaign/seal_insulate/why_seal_and_insulate Energy Star -https://www.energystar.gov/campaign/waysToSave The White House - https://www.whitehouse.gov/cleanenergy/?utm_source=cleanenergy.gov   Extra blog graphic quote: Save money by completing home maintenance tasks and projects

7 Tips to Maximize Your Home’s Sale Price   Over the past few years, a real estate buying frenzy bid up home prices to eye-popping amounts. However, as mortgage rates have risen, buyer demand has cooled. 1 Consequently, home sellers who enter the market today may need to reset their expectations.   The reality is, it’s no longer enough to stick a “for sale” sign in the yard and wait for buyers to bang down the door. If you want to net the most money possible for your property in today’s market, you’ll need an effective game plan and a skilled team of professionals to implement it.   Fortunately, we’ve developed a listing strategy that combines our proven approach to preparation, pricing, and promotion—all designed to help you get top dollar for your home. But you will play an important role in the selling process, as well.   Here are some crucial steps you can take to set yourself up for success as a home seller in this market:     Make Strategic Repairs and Improvements   When you sell something, it’s important to consider what your customer wants to buy. And according to the National Association of Realtors, only 6% of today’s buyers report that they are looking for a DIY fixer-upper.2 The vast majority want a move-in-ready home, which means that any outstanding repairs or dated features can be a major turn-off.   Before your home goes on the market, we’ll conduct a thorough walk-through to identify any problems that could prevent it from selling. In some cases, we may recommend a professional pre-listing inspection. Finding and addressing issues like leaks, rot, and foundation problems up front can pay off in the final sale price. Plus, it prevents sales from falling through because of a red flag on the home inspection, a scenario no seller wants to face.   Beyond repairs, we’ll also help you identify the simple upgrades that offer the highest return on your investment. For example, new paint can give your home a fresh look at a reasonable cost. However, it’s important to choose the right colors. One study found that painting your bathroom light blue could lead to a 1.6% increase in the offer price!3 Similarly, minor landscaping improvements can pay off in a major way. A healthy lawn offers an estimated 256% return on investment.4     Declutter and Depersonalize   When buyers look at a home for sale, they’re trying to envision themselves living there. That’s hard to do if it’s chock-full of the current owner’s family photos, children’s artwork, and souvenir collections. Plus, cluttered homes look smaller, and older items can make them feel dated.   Decluttering before you put your home up for sale will help you in the long run—after all, you’ll need to move all your things to your new home eventually. Now is the time to shred, digitize, or organize old documents, donate old clothes, or move bulky furniture into storage. At a minimum, you’ll want to pack away excess items neatly before potential buyers view the home. Remove personal photos and other trinkets to create a blank slate that viewers can imagine decorating with their own prized possessions.   If you feel overwhelmed by this process, we’d be happy to make recommendations or refer you to a local service provider who can help.     Stage Your Home for Success   Just as you take care to dress professionally for a job interview, you should always ensure your home looks its best for potential buyers. Home shoppers today are used to scrolling through Instagram and Pinterest, and they want to see the same wow factor when touring a home.   The process of making your home look its best and appeal to potential buyers is called staging, and it can be a game changer. According to the International Association of Home Staging Professionals, an average priced staged home sells 5 to 11 times faster than its unstaged counterpart. Even better, the majority of staged homes sell for 4% to 20% over list price!5   Some sellers hire a professional stager, who may bring in furniture and decor to increase the home’s appeal. Others choose to stage their homes themselves. We can help advise you on which route to choose and how much to invest in the process.   It’s also important to consider what buyers in your neighborhood are likely to be looking for in a home. We can help guide your staging choices with our local market insights. For example, in neighborhoods where a large share of residents work from home, it may be effective to stage one room as an office space so potential buyers can envision their day-to-day routine.     Prep for Each Showing   Most of us don’t live picture-perfect lives, and our homes reflect that (sometimes messy) reality. But when your home is on the market, it’s important to ensure that it is always ready for viewers, even on short notice. A missed showing is a missed opportunity to sell your home!   Before your home hits the market, it may be worth hiring professional cleaners to get in all the nooks and crannies. After, try your best to keep things spic and span. Just a few minutes a day wiping down counters, sweeping the floors, and vacuuming can make a big difference.   It’s also worth noting that most buyers will open cabinets, drawers, and closets—so try to make sure everything is as neat and organized as possible. Keep toiletries and small appliances off countertops, and secure valuables and sensitive documents in a safe or off-site.   Want help finding a cleaning service to make your home shine for buyers? Reach out for a referral!     Price Your Home Correctly From the Start   In the past few years, you may have seen homes in your neighborhood sell for shocking amounts and wondered if you could get a similar price for your property. The temptation to list your home on the high side can be strong, but it’s best to be realistic from the start. Even in a hot market, some homes will sit for months. And the longer a property is listed, the more buyers worry that something is wrong with it.6   Of course, you also don’t want to set your price too low and lose out on potential profit. That’s why it’s essential to work with real estate agents (like us!) who know the ins and outs of our local market and what buyers are willing to pay today. In a quickly-evolving market, comparable sales from a few months ago can lag the current market reality.   Fortunately, if you’ve owned your home for several years, chances are good that it’s worth much more today than you paid for it. That means you stand to walk away with a handsome profit. In fact, recent reports show that homeowner equity is at an all-time high.7     Avoid Acting on Emotion   The past few years of over-asking-price offers with few contingencies have set certain expectations for many sellers. It’s only natural to feel hurt or even offended if an offer comes in lower than what you think your home is worth.   However, it’s important to keep in mind that those market conditions were unprecedented, and we are now returning to a more typical market. Home sellers who act rationally, rather than emotionally, are going to get the best results.   Remember: You can always counter a low offer. The same goes for repair requests and contingencies—everything is negotiable. However, it’s important to accept that the market is adjusting and flexibility is key. Keep your expectations reasonable, and remain open-minded. And you can rest assured knowing that we’ll be by your side every step of the way to help you navigate the process and negotiate a great deal.     Work With a Local Market Expert   The economics impacting mortgage rates may be national, but real estate markets are hyperlocal. That’s why working with a professional agent who understands your neighborhood’s dynamics is essential. Through our experience, we’ve gathered insights that can help us position your home for success in this market. Plus, we have the resources to connect with qualified buyers searching for a home like yours.   Working with a knowledgeable agent is also the secret to getting as much money as possible for your home. We have access to extensive data on recent sales in your neighborhood, which we will use to price and promote your property. That’s one reason why homes sold by agents draw much higher prices than those sold by their owners alone. While for-sale-by-owner homes went for a median price of $260,000 in 2020, the median for homes sold by agents was $318,000.8 That’s a difference of $58,000—and money you don’t want to leave on the table.     YOUR AGENT AND ADVOCATE Selling a home in a fast-changing market can be stressful. You’re likely to hear conflicting advice and opinions from people in your life, and decisions like what color to paint your front door or how much to list your home for can be overwhelming.   That’s where we come in. The market may be adjusting, but it’s still highly advantageous for sellers—and we’re here to help you make the most of it. We’re listing experts in our area, and we know what steps you need to take for a smooth, profitable transaction.   If you’re considering buying or selling a home, we invite you to reach out to schedule a free consultation. We’re happy to talk through your specific situation and goals and help you identify your next steps.     The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.     Sources: Yahoo! Finance - https://finance.yahoo.com/news/bidding-war-rate-drops-lowest-120000537.html National Association of Realtors - https://cdn.nar.realtor/sites/default/files/documents/2022-home-buyers-and-sellers-generational-trends-03-23-2022.pdf Zillow - https://www.zillowgroup.com/news/paint-colors-that-could-lead-to-higher-offers/ Angi - https://www.angi.com/articles/smart-landscaping-tips-can-increase-home-value.htm International Association of Home Staging Professionals - https://pages.iahsp.com/home-staging-statistics/ Washington Post - https://www.washingtonpost.com/business/2019/07/22/just-because-its-sellers-market-doesnt-mean-you-should-overprice-your-home/ com - https://www.realtor.com/research/changes-in-value-of-household-real-estate-q2-2022/ National Association of Realtors - https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers#purchased

7 Costly Mistakes Home Sellers Make (And How to Avoid Them)   No matter what’s going on in the housing market, the process of selling a home can be challenging. Some sellers have a hard time saying goodbye to a treasured family residence. Others want to skip ahead to the fun of decorating and settling into a new place. Almost all sellers want to make the most money possible.   Whatever your circumstances, the road to the closing table can be riddled with obstacles — from issues with showings and negotiations to inspection surprises. But many of these complications are avoidable when you have a skilled and knowledgeable real estate agent by your side.   For example, here are seven common mistakes that many home sellers make. These can cause anxiety, cost you time, and shrink your financial proceeds. Fortunately, we can help you avert these missteps and set you up for a successful and low-stress selling experience.     MISTAKE #1: Setting an Unrealistic Price   Many sellers believe that pricing their homes high and waiting for the “right buyers” to come along will net them the most money. However, overpriced homes often sit on the market with little activity, which can be the kiss of death in real estate — and result in an inevitable price drop.1   Alternatively, if you price your home at (or sometimes slightly below) market value, it can be among the nicest that buyers see within their budgets. This can increase your likelihood of receiving multiple offers.2   To help you set a realistic price from the start, we will do a comparative market analysis, or CMA. This integral piece of research will help us determine an ideal listing price based on the amount that similar properties have recently sold for in your area.   Without this data, you risk pricing your home too high (and getting no offers) or too low (and leaving money on the table). We can help you find that sweet spot that will draw in buyers without undercutting your profits.      MISTAKE #2: Trying to Time the Market   You’ve probably heard the old saying, “Buy low and sell high.” But when it comes to real estate, that’s easier said than done.   Delaying your home sale until prices have hit their peak may sound like a great idea. But sellers should keep these factors in mind:   Predicting the market with certainty is nearly impossible. If you wait to buy your next home, its price could increase as well. This may erode any additional proceeds from your sale. If mortgage rates are rising, your pool of potential buyers could shrink — and you would have to pay more to finance your next purchase.   Instead of trying to time the market, choose your ideal sales timeline. This may be based on factors like your personal financial situation, shifting family dynamics, or the seasonal patterns in your neighborhood. We can help you figure out the best time to sell given your individual circumstances.     MISTAKE #3: Failing to Address Needed Repairs   Many sellers hope that buyers won’t notice their leaky faucet or broken shutters during home showings. But minor issues like these can leave buyers worrying about more serious — and costly — problems lurking out of sight.   Even if you do receive an offer, there’s a high likelihood that the buyer will hire a professional home inspector, who will flag any defects in their report. Neglecting to address a major issue could lead buyers to ask for costly repairs, money back, or worse yet, walk away from the purchase altogether.   To avoid these types of disruptions, it’s important to make necessary renovations before your home hits the market. We can help you decide which repairs and updates are worth your time and investment. In some cases, we may recommend a professional pre-listing inspection.   This extra time and attention can help you avoid potential surprises down the road and identify any major structural, system, or cosmetic faults that could impact a future sale.3     MISTAKE #4:  Neglecting to Stage Your Home   Staging is the act of preparing your home for potential buyers. The goal is to “set the stage” to help buyers envision themselves living in your home. Some sellers opt to skip this step, but that mistake can cost them time and money in the long run. A 2021 survey by the Real Estate Staging Association found that, on average, staged homes sold nine days faster and for $40,000 over list price.4   Indoors, staging could include everything from redecorating, painting, or rearranging your furniture pieces to removing personal items, decluttering, and deep cleaning. Outdoors, you might focus on power washing, planting flowers, or hanging a wreath on the front door.   You may not need to do all these tasks, but almost every home can benefit from some form of staging. Before your home hits the market, we can refer you to a professional stager or offer our insights and suggestions if you prefer the do-it-yourself route.     MISTAKE #5: Evaluating Offers on Price Alone   When reviewing offers, most sellers focus on one thing: the offer price. While dollar value is certainly important, a high-priced offer is worthless if the deal never reaches the closing table. That’s why it’s important to consider other factors in addition to the offer price, such as:   Financing and buyer qualifications Deposit size Contract contingencies Closing date Leaseback options   Depending on your circumstances, some of these factors may or may not be important to you. For example, if you’re still shopping for your next home, you might place a high premium on an offer that allows for a flexible closing date or leaseback option.   Buyers and their agents are focused on crafting deals that work well for them. We can help you assess your needs and goals to select an offer that works best for you.     MISTAKE #6: Acting on Emotion Instead of Reason   It’s only natural to grow emotionally attached to your home. That’s why so many sellers end up feeling hurt or offended at some point during the selling process. Low offers can feel like insults. Repair requests can feel like judgments. And whatever you do — don’t listen in on showings through your security monitoring system. Chances are, some buyers won’t like your decor choices, either!   However, it’s a huge mistake to ruin a great selling opportunity because you refuse to counter a low offer or negotiate minor repairs. Instead, try to keep a cool head and be willing to adjust reasonably to make the sale. We can help you weigh your decisions and provide rational advice with your best interests in mind.     MISTAKE #7: Not Hiring an Agent   There’s a good reason 90% of homeowners choose to sell with the help of a real estate agent. Homes listed by agents sold for 22% more than the average for-sale-by-owner home, according to a recent study by the National Association of Realtors.5   Selling a home on your own may seem like an easy way to save money. But in reality, there is a steep learning curve. And a listing agent can:   Skip past time-consuming problems Use market knowledge to get the best price Access contacts and networks to speed up the selling process   If you choose to work with a listing agent, you’ll save significant time and effort while minimizing your personal risk and liability. And the increased profits realized through a more effective marketing and negotiation strategy could more than make up for the cost of your agent’s commission.   We can navigate the ins and outs of the housing market for you and make your selling process as stress-free as possible. You may even end up with an offer for your home that’s better than you expected.     BYPASS THE PITFALLS WITH A KNOWLEDGEABLE GUIDE   Your home selling journey doesn’t have to be hard. When you hire us as your listing agent, we’ll develop a customized sales plan to help you get top dollar for your home without any undue risk, stress, or aggravation. If you’re thinking of buying or selling a home, reach out today to schedule a free consultation and home value assessment.     Sources: The Washington Post -https://www.washingtonpost.com/business/2019/07/22/just-because-its-sellers-market-doesnt-mean-you-should-overprice-your-home/ com -https://www.realtor.com/advice/sell/spark-a-bidding-war-for-your-home/ American Society of Home Inspectors - https://www.homeinspector.org/Newsroom/Articles/Before-You-Sell-6-Reasons-to-Get-a-Pre-Listing-Inspection/15766/Article Real Estate Staging Association -https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548 National Association of Realtors -https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics

5 Steps to Finding Your Next Home Whether you’re a first-time buyer or a seasoned homeowner, shopping for a new home can feel daunting. In fact, 56% of buyers said that “finding the right property” was the most difficult step in the home buying process.1   Buying a home is a significant commitment of both time and money. And a home purchase has the power to improve both your current quality of life and your future financial security, so the stakes are high.   Follow these five steps—and complete the corresponding worksheet offered below—to assess your priorities, streamline your search, and choose your next home with confidence.     STEP 1: Set Your Goals and Priorities   The first step to finding your ideal home is determining WHY you want to move. Do you need more space? Access to better schools? Less maintenance? Or are you tired of throwing money away on rent when you could be building equity? Pinpointing the reasons why you want to move can help you assess your priorities for your home search.   Don’t forget to think about how your circumstances might change over the next few years. Do you expect to switch jobs? Have more children? Get a pet? A good rule of thumb is to choose a house that will meet your family’s needs for at least the next five to seven years.2 Be sure to set your goals accordingly.     STEP 2: Meet with a Real Estate Agent   A good real estate agent can remove much of the stress and uncertainty from the home search process. From setting goals to securing a loan to selecting the best neighborhood to meet your needs, we will be there to assist you every step of the way.   And no one has more access to home listings, past sales data, or market statistics than a professional agent. We can set up a customized search that alerts you as soon as a new listing you might like goes live. Better yet, we get notified about many of the hottest homes even BEFORE they hit the market.   You can benefit from our time, experience, and expertise to assist you with every step of the process. It’s no wonder 87% of home buyers choose to purchase their home with the help of a Buyer’s agent.1 We are the expert on your side, looking out for you and your interests.   Call us today to schedule your free home buyer consultation and discuss your next steps!   STEP 3: Determine Your Budget   Many financial professionals recommend following the “28/36 Rule” to determine how much you can afford to spend on a home. The rule states that you should spend no more than 28% of your gross monthly income on housing expenses (e.g., mortgage, taxes, insurance) and a maximum of 36% of your gross monthly income on your total debt obligations (i.e., housing expenses PLUS any other debt obligations, like car loans, student loans, credit card debt, etc.).3   Of course, the 28/36 rule only provides a rough guideline. Getting pre-qualified or pre-approved for a mortgage BEFORE you begin shopping for homes will give you a much more accurate idea of how much you can borrow. Add your pre-approved mortgage amount to your downpayment to find out your maximum purchasing potential. We have several local lenders that our home buyers have had great successes with. Contact us for a list of local lenders that know how to make the process a smooth one.     STEP 4: Choose a Location   When it comes to real estate, WHERE you choose to buy is just as important as WHAT you choose to buy.   Do you prefer a rural, urban, or suburban setting? How long of a commute are you willing to make? Which neighborhoods feed into your favorite schools? These decisions will impact your day-to-day life while you live in the home.   Another important factor to consider is how the area is likely to appreciate over time. Choosing the right neighborhood can raise the profit potential of your home when it comes time to sell. Look for communities that are well maintained with high home-ownership rates, low crime rates, and access to good schools, desired retail establishments, and top employers.4     STEP 5: Decide Which Features You Need (and Want) in a Home   Start with the basics, like your ideal number of bedrooms, bathrooms, and square footage. Do you prefer a one-story or two-story layout? Do you want a swimming pool?   Keep in mind, you may not find a home with all of your “wants,” or even all of your “needs” … at least not at a price you can afford. The reality is, most of us have to make a few compromises when it comes to buying a home.   Some buyers will opt for a longer commute to get a larger, newer home in the suburbs. Others will sacrifice hardwood floors or an updated kitchen so that their kids can attend their desired school.   If you’re faced with a tough choice about how or what to compromise in your home search, return to STEP 1. What were your original goals and motivations for moving? Reminding yourself of your true priorities can often provide the clarity that you need.       The above references an opinion and is for informational purposes only.  It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.   Sources: NAR 2019 Home Buyers & Sellers Generational Trends Report -https://www.nar.realtor/sites/default/files/documents/2019-home-buyers-and-sellers-generational-trends-report-08-16-2019.pdf Architectural Digest -https://www.architecturaldigest.com/story/this-is-how-long-you-should-live-in-your-house-before-selling-it Investopedia -https://www.investopedia.com/terms/t/twenty-eight-thirty-six-rule.asp Money Talks News -https://www.moneytalksnews.com/20-clues-youre-buying-home-the-right-neighborhood/    

Higher Rates and Short Supply: The State of Real Estate in 2022   The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally by nearly 19% in 2021, driven primarily by low mortgage rates and a major supply shortage.1 But while some had hoped 2022 would bring a return to normalcy, the U.S. real estate market continues to boom, despite rising interest rates and decreasing affordability.   So what’s driving this persistent demand? And is there an end in sight? Here are three factors impacting the real estate market right now. Find out how they could affect you if you’re a current homeowner or plan to buy or sell a home this year.     MORTGAGE RATES ARE RISING FASTER THAN EXPECTED   Over the past couple of years, homebuyers have faced intense competition for new homes—in part due to historically low mortgage rates that were a result of the Federal Reserve’s efforts to keep the economy afloat during the COVID-19 pandemic.   However, in response to a concerning level of inflation, the Fed is now reversing those efforts by raising the federal funds rate. And as a result, mortgage rates are rising, as well. Few experts predicted, though, that mortgage rates would go up as quickly as they have.   In January 2022, the Mortgage Bankers Association projected that rates would reach 4% by the end of this year.2 By mid-April, however, the average 30-year fixed mortgage rate had already hit 5%, up from around 3% just one year prior.3 On a $400,000 mortgage, that 2% difference could translate into an additional $461 per monthly payment.   Since then, mortgage rates have continued on an upward trend. So what impact are these rising rates having on demand? While many buyers had hoped for a cooling effect, experts warn that may not be the case.   Ali Wolf, chief economist at housing market research firm Zanda, told Fortune magazine, "Rising mortgage rates are having a counterintuitive effect on the housing market. Home shoppers are actually sprung into action in an attempt to buy a home before mortgage rates rise any higher."4   Since inventory remains low, the resulting “race” has kept the homebuying market highly competitive–at least for now.   What does it mean for you?   While current 30-year fixed mortgage rates represent an increase over previous months, they remain well below the historical average of 8%.5 As inflation across the economy continues, the Fed is likely to raise rates further this year. Buyers should act fast to secure a good mortgage rate. We’d be happy to refer you to a lender who can help.   For sellers, speed is also of the essence. The pool of potential buyers may shrink as mortgages become more expensive. And if you plan to finance your next home, you’ll want to act quickly to secure a favorable rate for yourself. Contact us today to discuss your options.     HOME PRICES KEEP CLIMBING   History shows that higher interest rates don’t necessarily translate to lower home prices. In fact, home prices rose 5% between 1980 and 1982, a period of significantly higher mortgage rates and inflation.5   Forecasters expect that home prices will continue to go up throughout 2022, though likely at a slower pace than the 18.8% increase of the last 12 months.4 Bank of America predicts that prices will be up approximately 10% by the end of this year, while Fannie Mae estimates 11.2%.6,7   In addition to limited supply and a race to beat rising mortgage rates, home values are also climbing because of positive economic indicators, like low unemployment.8 Plus, rents are soaring–up 17% from a year ago–which is prompting more first-time homebuyers to enter the market.9 Add to that the continued popularity of remote work, and it’s easy to see why property prices continue to surge.   However, it’s not all bad news for prospective homebuyers. Economists expect that as mortgage rates rise, the rate of appreciation will continue to taper, though the effect may be gradual.   “Eventually mortgage rates will slow down home prices,” according to Ken Johnson, an economist at Florida Atlantic University interviewed by Marketwatch.10 “We should not see rapid upticks in prices as mortgage rates rise.” Forecasters agree—Fannie Mae expects price increases to slow to 4.2% in 2023.7   What does it mean for you?   While the pace of appreciation is likely to decrease next year, home prices show no signs of going down. However, current labor shortages are leading to higher salaries and better job opportunities for many workers. You may find that your income growth outpaces home prices, making homeownership more affordable for you in the future.   For homeowners, the outlook’s even brighter. You could find yourself sitting on a nice pile of equity. Contact us for a free home value assessment to find out.     INVENTORY REMAINS EXTREMELY LOW   As noted, one of the largest hurdles to homeownership is a lack of inventory. According to a February 2022 report by Realtor.com, there’s an expanding gap between household formation and home construction, which has resulted in a nationwide shortage of 5.8 million housing units.11   The origins of this shortage date back to the 2008 housing crisis, during which crashing home values led contractors to stop building new properties—a trend that has not been fully reversed.12   That decline in home construction also resulted in a decrease in the number of home building professionals, a trend that was exacerbated by job losses during the COVID-19 pandemic. Now, many builders are limited by their ability to find qualified labor.   Another major challenge is a staggering increase in the cost of materials. Pandemic-related supply chain shortages have been a significant driver, with home building material costs rising on average 20% on a year-over-year basis. The price of framing lumber alone has tripled since August 2021.13   These trends add tens of thousands of dollars to the cost of a typical home. Factors like a lack of buildable land in many areas, restrictive zoning, and a shortage of developers are also contributing to the issue.14   Most homebuying experts agree that the lack of inventory is the primary factor driving rising housing prices and unprecedented competition for homes. With available housing units near four-decade lows, the end of the current housing boom is not yet in sight.15   What does it mean for you?   Prospective buyers should be prepared to compete for a home, since low inventory can lead to multiple offers. You may also need to expand your search parameters. If you’re ready to look, we’re ready to help.   For sellers, the picture is rosier. In this strong market, your home may be worth more than you realize. Contact us to find out how much your home could sell for in today’s market.     WE’RE HERE TO GUIDE YOU   While national real estate trends can provide a “big picture” outlook, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home values in your particular neighborhood.   If you’re considering buying or selling a home, contact us now to schedule a free consultation. We can help you assess your options and make the most of this unique real estate landscape.     Sources: Marketwatch - https://www.marketwatch.com/picks/home-price-appreciation-will-normalize-what-5-economists-and-real-estate-pros-predict-will-happen-to-home-prices-in-2022-01646940841 Bankrate - https://www.bankrate.com/mortgages/mortgage-rate-forecast CNBC -https://www.cnbc.com/2022/04/16/heres-how-much-the-same-mortgage-costs-now-compared-to-last-year.html Fortune -https://fortune.com/2022/03/23/housing-market-interest-rate-economic-shock/ National Association of Realtors -https://www.nar.realtor/blogs/economists-outlook/instant-reaction-mortgage-rates-april-07-2022 Fortune -https://fortune.com/2022/03/16/home-prices-2022-2023-bank-of-america-forecast-mortgage-rates/ Fortune - https://fortune.com/2022/03/07/what-home-prices-will-look-like-2023-fannie-mae/ Fortune - https://fortune.com/2022/03/17/home-prices-drop-housing-markets-california-michigan-massachusetts-corelogic/ CNN - https://www.cnn.com/2022/03/23/success/us-national-rent-february/index.html MarketWatch -https://www.marketwatch.com/story/home-prices-increase-at-one-of-the-fastest-rates-on-record-but-higher-mortgage-rates-should-slow-future-growth-11648559497 com -https://www.realtor.com/research/us-housing-supply-gap-expands/ NPR -https://www.npr.org/2022/03/29/1089174630/housing-shortage-new-home-construction-supply-chain Investopedia -https://www.investopedia.com/housing-market-dips-in-early-march-2022-5222449 NPR -https://www.npr.org/2022/03/29/1089174630/housing-shortage-new-home-construction-supply-chain Fortune - https://fortune.com/2022/03/14/housing-market-key-metric-inventory-zillow-bad-for-buyers/

Hedge Against Inflation With These 3 Real Estate Investment Types The annual inflation rate in the United States is currently around 7.5%—the highest it has been since 1982.1 It doesn’t matter if you’re a cashier, lawyer, plumber, or retiree; if you spend U.S. dollars, inflation impacts you.   Economists expect the effects of inflation, like a higher cost of goods, to continue.2 Luckily, an investment in real estate can ease some of the financial strain.   Here’s what you need to know about inflation, how it impacts you, and how an investment in real estate can help.     WHAT IS INFLATION AND HOW DOES IT IMPACT ME?   Inflation is a decline in the value of money. When the rate of inflation rises, prices for goods and services go up. Therefore, a dollar buys you a little bit less with every passing day.   The consumer price index, or CPI, is a standard measure of inflation. Based on the latest CPI data, prices increased 7.5% from January 2021 to January 2022.1 A little bit of inflation is considered healthy for the economy, but 7.5% in a single year is high.   How does inflation affect your life? Here are a few of the negative impacts:   Decreased Purchasing Power We touched on this already, but as prices rise, your dollar won’t stretch as far as it used to. That means you’ll be able to purchase fewer goods and services with a limited budget.   Increased Borrowing Costs In an effort to curb inflation, the Federal Reserve is expected to raise the federal funds rate. Therefore, consumers are likely to pay a higher interest rate on new mortgages, car loans, and variable-rate credit cards.3   Lower Standard of Living Wage growth tends to lag behind price increases. According to Moody Analytics, when adjusted for inflation, average weekly earnings in January were down 3.1% from a year earlier.4 As such, life is becoming less affordable for everyone. Inflation can force those on a fixed income, like retirees, to make lifestyle changes and prioritize essentials.   Eroded Savings If you store all your savings in a bank account, inflation is even more damaging. As of February 2022, the national average interest rate for a savings account is 0.06%, not nearly enough to keep up with inflation. And economists don’t expect that rate to go much higher.3   One of the best ways to mitigate these effects is to find a place to invest your money other than the bank. Even though interest rates are expected to rise, they’re unlikely to get high enough to beat inflation. If you hoard cash, the value of your money will decrease every year and more rapidly in years with elevated inflation.     REAL ESTATE: A PROVEN HEDGE AGAINST INFLATION   So where is a good place to invest your money to protect (hedge) against the impacts of inflation? There are several investment vehicles that financial advisors traditionally recommend, including:   Stocks Some people invest in stocks as their primary inflation hedge. However, the stock market can become volatile during inflationary times, as we’ve seen in recent months.5   Commodities Commodities are tangible assets, like oil, livestock, and minerals. The theory is that the price of commodities should climb alongside inflation. But the classic choice–gold–hasn’t risen consistently during periods of inflation since the 1970s, according to data from Morningstar Direct.6   Inflation-Indexed Bonds Treasury inflation-protected securities, or TIPS, are U.S. government-issued bonds that are indexed to the inflation rate. Bonds are considered low risk, but the returns they offer are generally low, as well.7 Real EstateReal estate prices across the board tend to rise along with inflation and often rise faster than inflation.8 That’s one of the reasons demand for real estate is soaring right now.9   We believe real estate is the best hedge against inflation. Owning real estate does more than protect your wealth—it can actually make you money. For example, home prices rose nearly 17% from 2020 to 2021, 10% ahead of the 7% inflation that occurred in the same timeframe.10   Plus, certain types of real estate investments can help you generate a stream of passive income. In the past year, property owners didn’t just avoid the erosion of purchasing power caused by inflation; they got ahead.     TYPES OF REAL ESTATE INVESTMENTS   Though there are myriad ways to invest in real estate, there are three basic investment types that we recommend for beginner and intermediate investors. Remember that we can help you determine which options are best for your financial goals and budget.   Primary Residence   If you own your home, you’re already ahead. The advantages of homeownership become even more apparent in inflationary times. As inflation raises prices throughout the economy, the value of your home is likely to go up concurrently. At the same time, you’ve locked in a set mortgage payment for the next 30 years, so you’ll be immune to rising rental costs.   If you don’t already own your primary residence, homeownership is a worthwhile goal to pursue. Though the task of saving enough for a down payment may seem daunting, there are several strategies that can make homeownership easier to achieve. If you’re not sure how to get started with the home buying process, contact us. Our team can help you find the strategy and property that fits your needs and budget.   Whether you already own a primary residence or are still renting, now is a good time to also start thinking about an investment property. The types of investment properties you’ll buy as a solo investor generally fall into two categories: long-term rentals and short-term rentals.   Long-Term (Traditional) Rentals   A long-term or traditional rental is a dwelling that’s leased out for an extended period. An example of this is a single-family home where a tenant signs a one-year lease and brings all their own furniture.   Long-term rentals are a form of housing. For most tenants, the rental serves as their primary residence, which means it’s a necessary expense. This unique quality of long-term rentals can help to provide stable returns in uncertain times, especially when we have high inflation.   To invest in a long-term rental, you’ll need to budget for maintenance, repairs, property taxes, and insurance. You’ll also need to have a plan for managing the property. But a well-chosen investment property should pay for itself through rental income, and you’ll benefit from appreciation as the property rises in value.   We can help you find an ideal long-term rental property to suit your budget and investment goals. Reach out to talk about your needs and our local market opportunities.   Short-Term (Vacation) Rentals   Short-term or vacation rentals function more like hotels in that they offer temporary accommodations. A short-term rental is defined as a residential dwelling that is rented for 30 days or less. The furniture and other amenities are provided by the property owner, and today many short-term rentals are listed on websites like Airbnb and Vrbo.   A short-term rental can potentially earn you a higher return than a long-term rental, but this comes at the cost of daily, hands-on management. With a short-term rental, you’re not just entering the real estate business; you’re entering the hospitality business, too.   Done right, short-term rentals can be both a hedge against inflation and a profitable source of income. As a bonus, when the home isn’t being rented you have an affordable vacation spot for yourself and your family!   Contact us today if you’re interested in exploring options in either the long-term or short-term rental market. Mortgage rates are expected to rise, so you’ll want to act fast to maximize your investment return.     WE’RE INVESTED IN HELPING YOU   Inflation is a fact of life in the U.S. economy. Luckily, you can prepare for inflation with a carefully managed investment portfolio that includes real estate. Owning a primary residence or investing in a short-term or long-term rental will help you both mitigate the effects of inflation and grow your net worth, which makes it a strategic move in our current financial environment.   If you’re ready to invest in real estate to build wealth and protect yourself from rising inflation, contact us. Our team can help you find a primary residence or investment property that meets your financial goals.     The above references an opinion and is for informational purposes only.  It is not intended to be financial advice. Consult the appropriate professionals for advice regarding your individual needs.     Sources:   Bloomberg -https://www.bloomberg.com/news/articles/2022-02-10/u-s-inflation-charges-higher-with-larger-than-forecast-gain CNN -https://www.cnn.com/2022/01/01/economy/inflation-prices-2022-preview/index.html CNBC -https://www.cnbc.com/2022/01/26/the-fed-sets-the-stage-for-a-rate-hike-heres-what-that-means-for-you.html Reuters -https://www.reuters.com/business/us-consumer-prices-rise-strongly-january-weekly-jobless-claims-fall-2022-02-10/ NBC News -https://www.nbcnews.com/business/markets/market-slide-dow-falls-700-points-sp-enters-correction-territory-rcna13304 CNBC -https://www.cnbc.com/2021/12/20/gold-is-losing-its-status-as-an-inflation-hedge-two-traders-warn.html Morningstar -https://www.morningstar.com/articles/1079158/why-are-inflation-protected-bond-funds-losing-money The Washington Post -https://www.washingtonpost.com/business/2022/01/04/heres-how-inflation-could-affect-your-next-real-estate-move/ Bloomberg - https://www.bloomberg.com/news/articles/2022-01-24/is-real-estate-a-good-investment-hedge-against-inflation-what-the-experts-say CNN -https://www.cnn.com/2022/01/20/homes/us-nar-home-sales-december-and-2021/index.html

  Seller’s Checklist: A Timeline to Prep Your Home for Sale We’re still in a seller’s market, but that doesn’t mean your home is guaranteed to easily sell.1 If you want to maximize your sale price, it’s still important to prepare your home before putting it on the market.   Start by connecting with a real estate agent as soon as possible. Having the eyes and ears of an insightful real estate professional on your side can help you boost your home’s appeal to buyers. What’s more, beginning the preparation process early allows you to tackle repairs and upgrades that can increase your property’s value.   Use the checklist below to figure out what other tasks you should complete in the months leading up to listing your home. While everyone’s situation is unique, these guidelines will help you make sure you’re ready to sell when the time is right. Of course, you can always call us if you’re not sure where to start or what to tackle first. We can help customize a plan that works for you.     AS SOON AS YOU THINK OF SELLING   Some home sellers want to plan their future move far in advance, while others will be required to pack up on very short notice. Whatever your circumstances, these first steps will help assure you’ll be ahead of the listing game.   Contact Your Real Estate Agent   We go the extra mile when it comes to servicing our clients, and that includes a series of complimentary, pre-listing consultations to help you prepare your home for the market.   Some sellers make the mistake of waiting until they are ready to list their home to contact a real estate agent. But we’ve found that the earlier we’re brought into the process, the better the result. That often means a faster sale—and more money in your pocket after closing.   We know what buyers want in today’s market, and we can help devise a plan to maximize your property’s appeal. We can also connect you with our trusted network of contractors, vendors, and service professionals, so you’ll be sure to get the VIP treatment. This network of support can alleviate stress and help ensure you get everything done in the weeks or months leading up to listing.   Address Major Issues and Upgrades   In most cases, you won’t need to make any major renovations before you list. But if you’re selling an older home, or if you have any doubt about its condition, it’s best to get us involved as soon as possible so we can help you assess any necessary repairs.   In some instances, we may recommend a pre-listing inspection. Although it's less common in a seller's market, a pre-listing inspection can help you avoid potential surprises down the road. We can discuss the pros and cons during our initial meeting.   This is the time to address major structural, systems, or cosmetic issues that could hurt the sale of your home down the line. For example, problems with the frame, foundation, or roof are likely to be flagged on an inspection report. Issues with the HVAC system, electrical wiring, or plumbing may cause the home to be unsafe. And sometimes outdated or unpopular design features can limit a home’s sales potential.   Remember, when you’re dealing with major repairs or renovations, it’s best to give yourself as much time as possible. Given rampant labor and material shortages, starting right away can help you avoid costly delays.2 Contact us so we can guide you on the updates that are worth your time and investment.     1 MONTH (OR MORE) BEFORE YOU LIST   Once any large-scale renovations have been addressed, you can turn your attention to the more minor updates that still play a major role in how buyers perceive your home.   Make Minor Repairs   Look for any unaddressed maintenance or repair issues, such as water spots, pest activity, and rotten siding. This is the time to take care of those small annoyances like squeaky hinges, sticking doors, and leaky faucets, too.   Many of these issues can be handled by going the DIY route and using a few simple tools. Tackle the ones you can and be sure to call a professional for the ones you’re not comfortable doing yourself. We can refer you to local service providers who can help.   Remember that it’s easy to overlook these small issues because you live with them. When you work with us, you get a fresh set of eyes on your home—so you don’t miss any important repairs that could make a big difference to buyers.   Refresh Your Design   This is a great time to think about some simple design updates that can make a significant impression on buyers. For example, a fresh coat of paint is an easy and affordable way to spruce up your home. One survey found that interior paint offered a 107% return on investment.3 For broad appeal, opt for warm, neutral colors.   And never underestimate the importance of good curb appeal. Homes with good curb appeal sell for 7% more, on average, than similar homes with an “uninviting exterior.”4 If weather permits, lay fresh sod where needed, plant colorful flowers, and add some new mulch to your beds.   Even just repositioning your furniture can make a huge difference to buyers. A survey by the Real Estate Staging Association found that staged homes sold faster, and 73% sold over list price.5 We can refer you to a local stager or offer our insights and suggestions if you prefer the DIY route.   Declutter and Depersonalize   Doing a little bit of decluttering every day is a lot easier than trying to take care of it all at once right before your home hits the market. A simple strategy is to do this one room at a time, working your way through each space whenever you have a bit of free time.   Start by donating or discarding items that you no longer want or need. Then pack up any seasonal items, family photos, and personal collections you can live without for the next few weeks. Bonus: This will give you a head start on packing for your move!     1 WEEK BEFORE YOU GO TO MARKET   With just one week before your home is available for sale, all major items should be crossed off your to-do list. Now it’s time to focus on the small details that will really make your home shine. Here are a few key areas to focus on during this last week.   Check-In With Your Agent   We’ll connect again to make sure we’re aligned on the listing price, marketing plan, and any remaining prep. We will be there every step of the way, ensuring you’re fully prepared to maximize the sale of your home.   Tidy Your Exterior   You’ve already done the major landscaping—now it’s time to tackle the last few details. Make sure your lawn is freshly mowed, hedges are trimmed, and flower beds are weeded.   In addition, now is the time to clean your home’s exterior if you haven’t already. Power wash your siding, empty the gutters, and wash all your windows and screens.   Deep Clean Your Interior   Your house should be deep cleaned before listing, including a thorough deodorizing of the home’s interior and steam cleaning for all carpets. Consider hiring a professional cleaning company to ensure the space smells and looks as fresh as possible.   In addition to cleaning, take some time to tidy up. Buyers will look inside your closets, pantries, and cabinets, so make sure they are neat and organized. Small appliances and toiletries should be cleared off the countertops.     DAY OF SHOWING   Now you’re all set to go and there are just a few small things you need to handle on the day of showings or open houses. Do a final walk-through and take care of these finishing touches to give potential buyers the best possible impression.   Pre-Showing Prep   Happy and comfortable buyers are more likely to submit offers! Make them feel at home by adjusting the thermostat to a comfortable temperature. Open any blinds and curtains throughout the house, and turn on all lights so buyers can see all the potential in your home.   Then tidy up by vacuuming and sweeping floors, emptying (or hiding) trash cans, and wiping down countertops. In the bathrooms, close toilet lids and hang clean hand towels.   Don’t forget to secure firearms, jewelry, sensitive documents, prescription medications, and any other items of value in a safe or store them off-site.   Finally, it’s best to have pets out of the house during showings. If possible, you should also remove evidence of pets (litter box, dog beds, etc.), which can be a turn-off for some buyers.     DON’T WAIT TO PREP YOUR HOME FOR SELLING   If you want to get top dollar for your home, don’t put it on the market before it’s ready. The right preparation can make all the difference when it comes to maximizing the offers you get. The upgrades and changes you need to make will depend upon your home’s condition, so don’t wait to speak with an agent.   Call our team if you’re thinking about selling your home, even if you’re not sure when. It’s never too early to seek the guidance of your real estate agent and start preparing your home to sell.       Sources: Fortune -https://fortune.com/2022/02/08/should-i-buy-house-sellers-market-housing-real-estate-fannie-mae/ Forbes -https://www.forbes.com/advisor/home-improvement/labor-materials-shortage-impacts-renovations/ PR Web -https://www.prweb.com/releases/2012-homegain/home-improvement-survey/prweb9433460.htm Realtor Magazine -https://magazine.realtor/daily-news/2020/01/27/how-much-does-curb-appeal-affect-home-value Real Estate Staging Association -https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548

5 Ways to Write a Winning Offer in Today’s Real Estate Market   Our nation is in the midst of a serious housing crunch. Last year, a lack of inventory and soaring prices left many would-be homebuyers feeling pinched. But now, with interest rates climbing, many of them are also feeling desperate to lock in a mortgage—which has only added fuel to the fire.1   Fortunately, if you’re a buyer struggling to find a home, we have some good news. While it’s true that higher mortgage rates can decrease your purchasing budget, there are additional ways to compete in a hot market.   Yes, a high offer price gets attention. But most sellers consider a variety of factors when evaluating an offer. With that in mind, here are five tactics you can utilize to sweeten your proposal and outshine your competition.   We can help you weigh the risks and benefits of each tactic and craft a compelling offer designed to get you your dream home—without giving away the farm.   1.  Demonstrate Solid Financing The reality is, no one gets paid if a home sale falls through. That’s why sellers (and their listing agents) favor offers with a high probability of closing.   Sellers particularly love all-cash offers because there’s no chance of financing issues cropping up at the last moment. But don’t despair if you can’t pay cash for your home. According to the National Association of Realtors, only about 1 in 4 home purchases are all-cash deals, which means the vast majority are financed with a mortgage.2   If sellers are assured that financing will come through, buying with a mortgage doesn’t have to be a big disadvantage. The most important step you can take as a buyer is to get preapproved before you start looking for homes. A preapproval letter shows sellers that you are serious about buying and that you will be able to make good on your offer.   It’s also important to consider the reputation of your lender. While sellers may not know or care about a lender’s reputation, their agents often do. Some lenders are much easier to work with than others, especially if you are pursuing certain types of mortgages like FHA or VA loans.3 If so, you’ll want a lender who specializes in these types of mortgages. If you’re unsure who to choose, we are happy to refer you to reputable lenders known for their ease of doing business.   2.  Put Down a Sizeable Earnest Money Deposit Buyers can show sellers that they’re serious about their offer and have “skin in the game” by putting down a large earnest money deposit.   Earnest money is a deposit held in escrow by a title company or the seller’s broker or lawyer.  If the purchase goes through, it is applied to the down payment and closing costs—if the sale falls through, the buyer may lose some or all of that deposit.   While an earnest money deposit is typically around 1-2% of the sale price, offering a higher deposit can help demonstrate to the buyer that you are serious about the property.4 However, this strategy can also be risky. We can help you determine an appropriate deposit to offer based on your specific circumstances.   3.  Ask for Few (or No) Contingencies Most real estate offers include contingencies, which are clauses that allow one or both parties to back out of the agreement if certain conditions are not met. These contingencies appear in the purchase agreement and must be accepted by both the buyer and seller to be legally binding.5   Common contingencies include: Financing: A financing contingency gives the buyer a window of time in which to secure a mortgage. If they are unable to do so, they can withdraw from the purchase and the seller can move on to other buyers. Inspection: An inspection contingency gives the buyer the opportunity to have the home professionally inspected for issues with the structure, wiring, plumbing, etc. Typically, the seller may choose whether or not to remediate those issues; if they do not, the buyer may withdraw from the contract. Appraisal: Most lenders will not offer a mortgage on a home that costs more than it's worth. An appraisal contingency gives the buyer an opportunity to get the home professionally assessed to ensure that its value is at or above the sales price. If an appraisal comes in low, the seller may be asked to renegotiate the contract. Sale of a prior home: Some buyers cannot afford to purchase a new home until they sell their previous one. If the buyer is unable to sell their current home within a specified window of time, this contingency enables them to withdraw from the contract without penalty.   Since contingencies reduce the likelihood that a sale will go through, they generally make an offer less desirable to the seller. The more contingencies that are included, the weaker the offer becomes. Therefore, buyers in a competitive market often volunteer to waive certain contingencies.   However, it’s very important to make this decision carefully and recognize the risks of doing so. For example, a buyer who chooses to waive a home inspection contingency may find out too late that the home requires extensive renovations, and a buyer who waives the appraisal may risk their mortgage falling through. If you back out of a home purchase without the protection of a contingency, you could lose your earnest money deposit.6 We can help you assess the risks and benefits involved.   4. Offer a Flexible Closing Date and/or Leaseback Option When it comes to selling a house, money isn’t everything. People sell their homes for a wide variety of reasons, and flexible terms that work with their personal situations can sometimes make all the difference. For example, if a seller is in the process of planning a significant move, they may prefer a longer closing timeline that gives them time to find housing in their new location.   Similarly, short-term leaseback options, in which the sale is completed but the seller retains the right to rent the home for a specified period of time, can be compelling.7 These arrangements enable the seller to use the money from the sale of their home to purchase their next house. A leaseback agreement also makes it possible for them to avoid moving twice when their next home is not yet ready to occupy.   Flexible closing dates and leaseback options can provide a powerful advantage for first-time homebuyers. If you have a month-to-month or easily transferable lease, for example, you may be able to offer a more flexible timeline than a buyer who is simultaneously selling their existing home.   Of course, the value of these terms depends on the seller’s situation. We can reach out to the listing agent to find out the seller’s preferred terms, and then collaborate with you to write a compelling offer that works for both parties.   5. Work With a Skilled Buyer’s Agent In this ultra-competitive real estate market, one of the greatest advantages you can give yourself is to work with a skilled and trustworthy real estate professional. We will make sure you fully understand the process and help you submit an appealing offer without taking on too much risk.   Plus, we know how to write offers that are designed to win over both the seller and their listing agent. The truth is, listing agents play a huge role in helping sellers evaluate offers, and they want to work with skilled buyer’s agents who are professional, communicative, and courteous.   Once your offer is accepted, we’ll also handle any further negotiations and coordinate all the paperwork and other details involved in your home purchase. The best part is, you’ll have a knowledgeable, licensed advocate on your side who is watching out for your best interests every step of the way.   Helping You Get to the Right Offer In many cases, a competitive offer doesn’t need to be all-cash, contingency-free, or significantly above asking price. But if you’re serious about buying a home in today’s market, it’s important to consider what you can do to sweeten the deal.   If you’re a buyer, we can help you compete in today’s market without getting steamrolled. And if you’re a seller, we can help you evaluate offers by taking all the relevant factors into account. Contact us today to schedule a free consultation.     Sources: National Association of Realtors -https://www.nar.realtor/newsroom/pending-home-sales-dwindle-4-1-in-february National Association of Realtors -https://www.nar.realtor/newsroom/existing-home-sales-fade-7-2-in-february Forbes - https://www.forbes.com/advisor/mortgages/housing-crisis-tips/ com -https://www.realtor.com/advice/finance/earnest-money-deposit-mistakes-buyers-make/ Bankrate -https://www.bankrate.com/real-estate/contingency-clause/ Home Buying Institute - http://www.homebuyinginstitute.com/mortgage/risks-of-waiving-a-contingency/ com -https://www.realtor.com/advice/sell/what-is-a-rent-back-agreement

Can I Buy or Sell a Home Without a Real Estate Agent? Today’s real estate market is one of the fastest-moving in recent memory. With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding wars—for homes in the most sought-after neighborhoods. This has led some sellers to question the need for an agent. After all, why spend money on a listing agent when it seems that you can stick a For Sale sign in the yard then watch a line form around the block?   Some buyers may also believe they’d be better off purchasing a property without an agent. For those seeking a competitive edge, proceeding without a buyer’s agent may seem like a good way to stand out from the competition—and maybe even score a discount. Since the seller pays the buyer agent’s commission, wouldn’t a do-it-yourself purchase sweeten the offer?   We all like to save money. However, when it comes to your largest financial asset, forgoing professional representation may not always be in your best interest. Find out whether the benefits outweigh the risks (and considerable time and effort) of selling or buying a home on your own—so you can head to the closing table with confidence.     SELLING YOUR HOME WITHOUT AN AGENT Most homeowners who choose to sell their home without any professional assistance opt for a traditional “For Sale By Owner” or a direct sale to an investor, such as an iBuyer. Here’s what you can expect from either of these options.   For Sale By Owner (FSBO) For sale by owner or FSBO (pronounced fizz-bo) offers sellers the opportunity to price their own home and handle their own transaction, showing the home and negotiating directly with the buyer or his or her real estate agent. According to data compiled by the National Association of Realtors, approximately 8% of homes are sold by their owner.1   In an active, low inventory real estate market, it may seem like a no-brainer to sell your home yourself. After all, there are plenty of buyers out there and one of them is bound to be interested in your home. In addition, you’ll save money on the listing agent’s commission and have more control over the way the home is priced and marketed.   One of the biggest problems FSBOs run into, however, is pricing the home appropriately. Without access to information about the comparable properties in your area, you could end up overpricing your home (causing it to languish on the market) or underpricing your home (leaving thousands of dollars on the table).2   Even during 2020’s strong seller’s market, the median sales price for FSBOs was 10% less than the median price of homes sold with the help of a real estate agent.1 And during a more balanced market, like the one we experienced in 2018, FSBO homes sold for 24% (or $60,000) less than agent-represented properties.3 This suggests that, while you may think that you’ll price and market your home more effectively yourself, in fact you may end up losing far more than the amount you would pay for an agent’s assistance.   Without the services of a real estate professional, it will be up to you to get people in the door. You’ll need to gather information for the online listing and put together the kind of marketing that today’s buyers expect to see. This includes bringing in a professional photographer, writing the listing description, and designing marketing collateral like flyers and mailers—or hiring a writer and graphic designer to do so.   Once someone is interested, you’ll need to offer virtual showings and develop a COVID safety protocol. You’ll then need to schedule an in-person showing (or in some cases, two or three) for each potential buyer. In addition, you’ll be on your own when evaluating offers and determining their financial viability. You’ll need to thoroughly understand all legal contracts and contingencies and discuss terms, including those regarding the home inspection and closing process.   While you’re doing all of this work, it’s likely that you’ll still need to pay the buyer agent’s commission. So be sure to weigh your potential savings against the significant risk and effort involved.   If you choose to work with a listing agent, you’ll save significant time and effort while minimizing your personal risk and liability. And the increased profits realized through a more effective marketing and negotiation strategy could more than make up for the cost of your agent’s commission.   iBuyer iBuyers have been on the scene since around 2015, providing sellers the option of a direct purchase from a real estate investment company rather than a traditional direct-to-consumer sales process.4 iBuyer companies tout their convenience and speed, with a reliable, streamlined process that may be attractive to some sellers.   The idea is that instead of listing the home on the open market, the homeowner completes an online form with information about the property’s location and features, then waits for an offer from the company. The iBuyer is looking for a home in good condition that’s located in a good neighborhood—one that’s easy to flip and falls within the company’s algorithm.   For sellers who are more focused on speed and convenience, an iBuyer may offer an attractive alternative to a traditional real estate sale. That’s because iBuyers evaluate a property quickly and make an upfront offer without requesting repairs or other accommodations.   However, sellers will pay for that convenience with, generally, a far lower sale price than the market will provide as well as fees that can add up to as much or more than a traditional real estate agent’s commission. According to a study conducted by MarketWatch, iBuyers netted, on average, 11% less than a traditional sale when both the lower price and fees are considered.5 Other studies found some iBuyers charging as much as 15% in fees and associated costs, far more than you’ll pay for a real estate agent’s commission.6   In a hot market, this can mean leaving tens of thousands of dollars on the table since you won’t be able to negotiate and you’ll lose out on rising home prices caused by low inventory and increased demand. In addition, iBuyers are demonstrably less reliable during times of economic uncertainty, as evidenced by the halt of operations for most iBuyer platforms in early 2020.6 As a seller, the last thing you want is to start down the road of iBuying only to find out that a corporate mandate is stopping your transaction in its tracks.   If you choose to work with a real estate agent, you can still explore iBuyers as an option. That way you can take advantage of the added convenience of a fast sale while still enjoying the protection and security of having a professional negotiating on your behalf.     BUYING YOUR HOME WITHOUT AN AGENT   According to the most recent statistics, 88% of home buyers use a real estate agent when conducting their home search.1 A buyer’s agent is with you every step of the way through the home buying process. From finding the perfect home to submitting a winning offer to navigating the inspection and closing processes, most homebuyers find their expertise and guidance invaluable. And the best part is that, because they are compensated through a commission paid by the homeowner at closing, most agents provide these services at no cost to you!   Still, you may be considering negotiating your home purchase directly with the seller or listing agent, especially if you are accustomed to deal-making as part of your job. And if you are familiar with the neighborhood where you are searching, you may feel that there is no reason to get a buyer’s agent involved.   However, putting together a winning offer package can be challenging. This is especially true in a multiple-offer situation where you’ll be competing against buyers whose offers are carefully crafted to maximize their appeal. And the homebuying process can get emotional. A trusted agent can help you avoid overpaying for a property or glossing over “red flags” in your inspection. In addition, buyer agents offer a streamlined, professional process that listing agents may be more likely to recommend to their clients. If you decide to forego an agent, you’ll have to write, submit, and negotiate a competitive offer all on your own. You’ll also need to schedule an inspection and negotiate repairs. You’ll be responsible for reviewing and preparing all necessary documents, and you will need to be in constant communication with the seller’s agent and your lender, inspector, appraiser, title company, and other related parties along the way. Or, you could choose to work with a buyer’s agent whose commission is paid by the seller and costs you nothing out of pocket. In exchange, you’ll obtain fiduciary-level guidance on one of the most important financial transactions of your life. If you decide to go it alone, you’ll be playing fast and loose with what is, for most people, their most important and consequential financial decision.     SO, IS A REAL ESTATE AGENT RIGHT FOR YOU?   It is important for you to understand your options and think through your preferences when considering whether or not to work with a real estate professional. If you are experienced in real estate transactions and legal contracts, comfortable negotiating under high-stakes circumstances, and have plenty of extra time on your hands, you may find that an iBuyer or FSBO sale works for you.   However, if, like most people, you value expert guidance and would like an experienced professional to manage the process, you will probably experience far more peace of mind and security in working with a real estate agent or broker.   A real estate agent’s comprehensive suite of services and expert negotiation skills can benefit buyers and sellers financially, as well. On average, sellers who utilize an agent walk away with more money than those who choose the FSBO or iBuyer route.3,5 And buyers pay nothing out of pocket for expert representation that can help them avoid expensive mistakes all along the way from contract to closing.   According to NAR’s profile, the vast majority of buyers (91%) and sellers (89%) are thrilled with their real estate professional’s representation and would recommend them to others.1 That’s why, in terms of time, money, and expertise, most buyers and sellers find the assistance of a real estate agent essential and invaluable.     QUESTIONS ABOUT BUYING OR SELLING? WE HAVE ANSWERS   The best way to find out whether you need a real estate agent or broker is to speak with one. We’re here to help and to offer the insights you need to make better-informed decisions. Let’s talk about the value-added services we provide when we help you buy or sell in today’s competitive real estate landscape.     Sources: National Association of REALTORS -https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers Washington Post -https://www.washingtonpost.com/business/2020/12/09/factors-consider-when-determining-whether-use-an-agent-buy-or-sell-home/ National Association of REALTORS -https://www.nar.realtor/blogs/economists-outlook/selling-your-home-solo-to-save-money-you-ll-actually-make-less-than-you-think Seattle Times -https://www.seattletimes.com/business/real-estate/redfin-is-first-major-ibuyer-to-sell-in-seattle MarketWatch -https://www.marketwatch.com/story/selling-your-home-to-an-ibuyer-could-cost-you-thousands-heres-why-2019-06-11 Forbes -https://www.forbes.com/sites/nataliakarayaneva/2020/03/19/billion-dollar-real-estate-businesses-ibuyer-suspended/?sh=c7f59f921747

A Return to 'Normal'? The State of Real Estate in 2022 Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that caused home prices to soar nationwide by a record 19.9% between August 2020 and August 2021.1 However, there were signs in the fourth quarter that the red-hot housing market was beginning to simmer down. In the month of October, only 60.3% of sales involved a bidding war—down from a high of 74.5% in April.2 While this trend could be attributed to seasonality, it could also be a signal that the real estate run-up may have passed its peak. So what’s ahead for the U.S. housing market in 2022? Here’s where industry experts predict the market is headed in the coming year.   MORTGAGE RATES WILL CREEP UP Most economists expect to see mortgage rates gradually rise this year after hitting record lows in late 2020 and early 2021.3  Freddie Mac forecasts the 30-year fixed-rate mortgage will average 3.5% in 2022, up from around 3% in 2021.4 The Mortgage Bankers Association predicts that rates will tick up to 4% by the end of the year. “Mortgage lenders and borrowers should expect rising mortgage rates over the next year, as stronger economic growth pushes Treasury yields higher,” said Mike Fratantoni, chief economist for the Mortgage Bankers Association at their 2001 Annual Convention & Expo in October.5 However, it’s important to keep in mind that even a 4% mortgage rate is low when compared to historical standards. According to industry trade blog The Mortgage Reports, “Between 1971 and December 2020, 30-year mortgage rates averaged 7.89%.”6 What does it mean for you? Low mortgage rates can reduce your monthly payment and make homeownership more affordable. Fortunately, there’s still time to lock in a historically-low rate. Whether you’re hoping to purchase a new home or refinance an existing mortgage, act soon before rates go up any further. We’d be happy to connect you with a trusted lending professional in our network.   THE MARKET WILL BECOME MORE BALANCED In 2021, we experienced one of the most competitive real estate markets ever. Fears about the virus and a shift to remote work triggered a huge uptick in demand. At the same time, many existing homeowners delayed their plans to sell, and supply and labor shortages hindered new construction.  This led to an extreme market imbalance that benefitted sellers and frustrated buyers. According to George Ratiu, director of economic research at Realtor.com, “Prices and sellers reached for the moon [last] year. It looks like we are now about to move back to earth.”7 Data from Realtor.com released in November showed that listing price reductions had more than doubled since February 2021. And the average days on market (an indicator of how long it takes a home to sell) has been slowly creeping up since June.7 What’s causing this change in market dynamics? The real estate market typically slows down in the fall and winter. But economists also suspect a fundamental shift in supply and demand. At the National Association of Realtors’ annual conference last November, the group’s chief economist, Lawrence Yun, told attendees that he expects increased supply to come from an uptick in new construction—which is already underway—and an end to the mortgage forbearance program. “With more housing inventory to hit the market, the intense multiple offers will start to ease,” he said.8 Demand is also predicted to wane slightly in the coming year. Rising mortgage rates and record-high prices have made homeownership unaffordable for a growing number of Americans. And in a recent Reuters poll, nearly 80% of property analysts said they expect housing affordability to worsen over the next several years.9 What does it mean for you? If you struggled to buy a home last year, there may be some relief on the horizon. Increased supply and softening demand could make it easier to finally secure the home of your dreams. If you’re a seller, it’s still a great time to cash out your big equity gains! And with more inventory on the market, you’ll have an easier time finding your next home. Reach out for a free consultation so we can discuss your specific needs and goals.   HOME PRICES LIKELY TO KEEP CLIMBING, BUT AT A SLOWER PACE Nationally, home prices rose an estimated 16.8% in 2021.8 But the average rate of appreciation is expected to slow down in 2022. Danielle Hale, chief economist at Realtor.com, told Yahoo! News, “Home asking prices have decelerated in the second half of 2021, with median listing price growth slipping from a peak of 17.2% in April to just 8.6% in October.”10 But experts disagree about how much more property values can continue to climb this year. Goldman Sachs predicts that home prices will rise by 13.5%, while Fannie Mae and Freddie Mac are forecasting a 7.9% and 7% rate of appreciation, respectively.2 However, not all analysts are as bullish. The National Association of Realtors predicts a 2.8% rate of appreciation for existing homes and 4.4% for new homes, while the Mortgage Bankers Association expects the average home price to decrease by 2.5% by the end of the year.10,2 According to Hale, “With prices near all-time highs and mortgage rates expected to rise, we expect this slowdown in prices to continue.”10 What does it mean for you? If you’re a buyer who has been waiting on the sidelines for home prices to drop, you may be out of luck. Even if home prices dip slightly (and most economists expect them to rise) any savings are likely to be offset by higher mortgage rates. The good news is that decreased competition means more choice and less likelihood of a bidding war. We can help you get the most for your money in today’s market.   RENTS WILL CONTINUE TO RISE Along with home, gasoline, and used vehicle prices, rent prices rose dramatically last year. According to CoreLogic, in September, rents for single-family homes were up 10.2% nationally year over year.11 And economists at Realtor.com expect them to climb another 7.1% in 2022.12 “Homes are expensive now…but for most people, the comparison that is most important is how that cost of homeownership is going to compare to the cost of renting,” Zillow Senior Economist Jeff Tucker told CNBC in November.13 Tucker also pointed out that rent is less predictable than a mortgage—and more likely to go up along with inflation.13 Real assets, like real estate, are often used as a hedge against inflation. That’s because property values typically rise with inflation.14 And when a homeowner takes out a mortgage, they lock in a set housing payment for the next 30 years.  In contrast, renters are at the mercy of the market—and they don’t gain any of the benefits of homeownership, like tax deductions, equity, or appreciation. George Ratiu of Realtor.com told CNBC that he advises buyers to consider their budget and time frame. If they plan to stay in the home for at least three to five years, he believes it often makes sense to buy.13 Fortunately, it’s shaping up to be a better year for buyers. “I think 2022 has the promise of providing less competition, a lot more homes to choose from, and, as a result, a lot more approachable prices,” Ratiu said.13 What does it mean for you? Both property and rent prices are expected to continue rising. But when you purchase a home with a fixed-rate mortgage, you can rest assured knowing that your monthly mortgage payment will never go up. Whether you’re a first-time homebuyer or a real estate investor, we can help you make the most of today’s real estate market.    WE’RE HERE TO GUIDE YOU While national real estate numbers and predictions can provide a “big picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home values in your particular neighborhood.  If you’re considering buying or selling a home in 2022, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year.   Sources: Fortune –https://fortune.com/2021/11/04/us-home-prices-real-estate-forecast-2022-outlook/ Fortune –https://fortune.com/2021/11/29/housing-market-real-estate-predictions-2022-forecast/ Freddie Mac –http://www.freddiemac.com/pmms/pmms30.html Freddie Mac – https://freddiemac.gcs-web.com/news-releases/news-release-details/freddie-mac-strong-housing-market-will-continue-even-rates-and Mortgage Bankers Association –https://www.mba.org/2021-press-releases/october/mba-annual-forecast-purchase-originations-to-increase-9-percent-to-record-173-trillion-in-2022 The Mortgage Reports –https://themortgagereports.com/61853/30-year-mortgage-rates-chart Realtor.com –https://www.realtor.com/news/trends/has-housing-market-peaked/ National Association of Realtors –https://www.nar.realtor/newsroom/nars-yun-says-housing-market-doing-well-may-normalize-in-2022 Reuters –https://www.reuters.com/world/us/rise-us-house-prices-halve-next-year-affordability-worsen-2021-12-07/ Yahoo! News –https://www.yahoo.com/now/where-home-prices-headed-2022-130012748.html CNBC –https://www.cnbc.com/2021/11/16/inflation-rent-for-single-family-homes-surged-10percent-in-september.html Realtor.com –https://www.realtor.com/news/trends/what-to-expect-in-2022-housing-market/ CNBC –https://www.cnbc.com/2021/11/23/rising-inflation-hot-housing-market-what-you-need-to-know-about-buying-a-home.html Money –https://money.com/inflation-2021-stocks-bitcoin-gold-reits-commodities/

8 Popular Home Design Features for 2022 There’s a lot to consider when selling your home, from the market and appraisals to where you’ll go next. Don’t forget, however, that design is also a key factor. It’s often one of the first things buyers notice when they walk into a home, and it’s also a detail that you, as a seller, can easily control.   According to Realtor.com’s 2022 housing market forecast, home for-sale inventory will increase from last year, as will the projected number of overall sales.1 This means, if you’re looking to sell in the near future, now is the time to consider how you can stand out.   Updating your home design is one way to do that. Changes like new security features or upgraded siding can add value to your home now and be highlighted when you market it for sale later. To get the most out of your updates, focus on these popular home design features that will wow buyers in 2022.   Keep in mind, not all of these will work well in every house. If you plan to buy, list, or renovate a property, give us a call. We can help you realize your vision and maximize the impact of your investment.   Eco-Friendly Fixtures   Millennials account for the largest share of current homebuyers, according to the National Association of Realtors.2 Sustainable living tops the list of priorities for this generation. A recent Deloitte survey found that nearly one-third of millennials initiate or deepen their consumer investment in products or services that help the environment—this also includes the houses they choose to live in.3   Here are a few eco-friendly design features that will be attractive to these millennial buyers in 2022. Bonus, they can net a significant return on investment (ROI) for you, as a seller, too.   Energy-Efficient Windows: Heat gain or loss from low-performance windows drives 25–30 percent of home heating and cooling costs, according to gov.4 Therefore, energy-efficient windows can help homeowners save money. Low-Flow Water Fixtures: According to the EPA, replacing your shower head with one that’s labeled with WaterSense can save four gallons of water with each shower.5 Doing the same with your faucet can save 700 gallons per year. This leads to cost savings and environmental support. Native Landscaping: According to the American Society of Landscape Architects, 58 percent of members report increased client demand for native trees and plants as a means to combat biodiversity loss from climate change..6 Enhance the eco-friendly appeal of your home with some native plants in the front yard.   Wellness Retreat Nooks   The pandemic has had a significant impact on mental health. For example, in an effort to prioritize mental health, many people are relocating to quieter, more peaceful homes, with 22 percent of city dwellers planning a move to less congested residential areas, according to the Home Improvement Research Institute’s (HIRI) 2021 Insights Summit.7   However, no matter where you live, you can still intrigue buyers by jumping on this trend. At-home wellness amenities, which were once viewed as luxuries, are now on many homeowners’ must-have lists. Indoor spaces that function as a retreat for wellness and self-care have become extremely popular, according to HIRI.   Improve your quality of life in your home with reading nooks, spa-inspired bathrooms, and exercise or meditation spaces. Even if your house doesn’t have the square footage to section off an entire room for relaxation, making simple tweaks to natural light, air purifiers, and indoor plants can help you feel better in your home now while enabling future buyers to see the opportunity for their own space.   Calming Paint Colors   Paint colors that produce a calming atmosphere will also be a key selling point in 2022. Soft earth tones and natural hues will prevail this year, including various shades of blue, green,  brown, and beige. Recent research suggests steering clear of trendy paint colors in favor of a more classic palette to bring the feel of nature indoors in a subtle and soothing way.8   In fact, the same research found that buyers are often willing to pay an extra $4,698 for a house with a light blue bathroom or an extra $1,491 for a house with a dark blue bedroom. Another crowd-pleasing hue to refresh the walls with is BEHR’s 2022 paint color of the year, known as Breezeway.9   This shade of green with silver undertones was created to mimic sea glass. As the BEHR website describes it, Breezeway “evokes feelings of coolness and peace, while representing a desire to move forward and discover newfound passions.”    Home Safety Features   Buyers want peace of mind more now than ever before. According to a 2021 survey from the American Institute of Architects, members report seeing an increase in the popularity of these home safety features10:   Emergency backup power generation Accommodations for multiple generations Wider accessible doorways and hallways Home security monitoring equipment Interior ramps and home elevator features Consider how you can build home safety features like these into the design of your home to enhance your quality of life now and attract more buyers later. For example, you could install a backup generator in the garage and sell it with the house or update your major doorways to be wider.   Before making an investment in expensive home safety upgrades, contact us. We can help you determine what will deliver the greatest ROI for your location and goals.   Designated Work Spaces   It may come as no surprise that after the pandemic, 63 percent of homebuyers want their next house to feature room for a designated office, according to the National Association of Home Builders.11 In addition, 70 percent of these buyers want the office to be at least 100 square feet (or a 10x10 room).      If you can, consider turning a bedroom or a den into a work-from-home office. When designing the space, make it both functional and aesthetically pleasing. Position a desk near the window for natural light, install a bookshelf unit, arrange a few succulents on the work surface, and hang a few framed posters or a cork bulletin board on the wall. You want the space to foster productivity as well as be a place in your home you enjoy spending time.   When you get ready to sell, we can help you highlight your designated work space. Given the high demand for this design feature, it can help you interest more buyers and attract more competitive offers—if marketed creatively.   Luxury Kitchen Retouches   The kitchen has always been a main focal point of interior design, and that’s no different in 2022. Families will always need this space to come together in their own homes.   This year’s buyers want a kitchen with new upgrades and retouches, but you don’t have to renovate the entire kitchen to make an impact. If you’re not sure where to start, here are a few tips on how to create a kitchen that buyers will love without spending too much money on renovations:   Repaint the kitchen, keeping the calm and nature-inspired colors in mind that are most popular right now. Taking a kitchen from dark to light by painting cabinets and walls can make all the difference. Update the hardware. These kitchen “accessories” stand out and add personality to an otherwise standard kitchen. Update light fixtures to bring in more light while also adding a fresh look and feel to the space.   Unique Accent Walls   In a recent interview with the National Association of Realtors, Brian Santos, the director of education for Fresh Coat Painters, explains that bold, unique accent walls are trendy right now.12 An accent wall gives a home character while maintaining the calming feel of natural- and neutral-colored walls.   Santos also explains that this is part of a design aesthetic that draws inspiration from the Roaring Twenties, and it’s likely to remain a sought-after home feature in 2022. Here are some bold colors to consider for your home’s accent walls:   Solid black Jewel or metallic tones Textured wallpaper Painted ceilings Built-in shelves   If you’re planning to sell in the next year, talk to us before adding an accent wall. Depending on your target buyer, it may be a design feature that actually hurts your home’s value. We can run a free Comparative Market Analysis on your home to help you understand what would resell best in your neighborhood.   Exterior Siding Updates   A new exterior siding refresh is one of the most affordable renovation projects you can do to help increase a home’s resale value. The average cost is just $12 per square foot, but higher-end material options can push costs closer to  $50 per square foot.13 What’s more, there are many siding materials available, from fiber-cement, brick, and wood to vinyl, metal, and stone.   While all these options can infuse the exterior with character and add curb appeal, fiber-cement and vinyl deliver the highest ROI. In fact, according to a 2021 Cost vs. Value Report, a vinyl siding replacement can boost resale value by $11,315 (68.3 percent cost recoup), and a fiber-cement siding replacement can boost resale value by $13,618 (69.4 percent cost recoup).14   Give your home this simple, affordable, and attractive facelift before putting it on the market. If you’re not sure how to get started yourself, our team can connect you with a trusted vendor to guide you through the process.   Keep These Home Design Features on Your Radar in 2022   These design features can infuse personality into your home while helping to close the deal if you plan to sell in 2022. The average buyer knows just what they’re looking for in a space they plan to call home, so with some investment and foresight, you can give your house an edge over the competition—and boost resale value in the process.   However, you don’t need to make all these changes to attract more buyers. We can help you determine which design features you should add to your home by sharing insights and tips on how to maximize the return on your investment. We can also run a Comparative Market Analysis on your home to find out how it compares to others in the area, which will help us decide what changes need to be made. Contact us to schedule a free consultation!   Sources: Realtor - https://www.realtor.com/research/2022-national-housing-forecast/ National Association of Realtors - https://www.nar.realtor/research-and-statistics/research-reports/home-buyer-and-seller-generational-trends Deloitte - https://www2.deloitte.com/content/dam/Deloitte/global/Documents/2021-deloitte-global-millennial-survey-report.pdf gov - https://www.energy.gov/energysaver/update-or-replace-windows gov - https://www.epa.gov/watersense/about-watersense American Society of Landscape Architects - https://www.asla.org/NewsReleaseDetails.aspx?id=60427 Home Improvement Research Institute - https://www.hiri.org/blog/4-major-home-wellness-trends-from-hiri-summit-speaker-dr-jie-zhao Zillow - http://zillow.mediaroom.com/2021-07-15-Homes-With-Light-Blue-Bathrooms,-Dark-Blue-Bedrooms-Could-Sell-for-Up-to-4,698-More-Than-Expected Behr - https://www.behr.com/colorfullybehr/behr-announces-2022-color-of-the-year-and-trends-palette/ American Institute of Architects - http://info.aia.org/AIArchitect/2021/0910/aia-interactive/index.html# National Association of Home Builders - ​​https://www.nahb.org/-/media/NAHB/news-and-economics/docs/housing-economics-plus/special-studies/2021/special-study-what-home-buyers-really-want-march-2021.pdf?_ga=2.188050984.1824982414.1639512139-1247360189.1639512139 National Association of Realtors - https://www.nar.realtor/blogs/styled-staged-sold/hot-home-trend-the-accent-wall-is-back Forbes - https://www.forbes.com/advisor/home-improvement/how-much-does-siding-cost-to-install/ Remodeling Magazine - https://www.remodeling.hw.net/cost-vs-value/2021/