The Place to find the best Myrtle Beach Real Estate Ideas, Tips and Updates

Before You Fall in Love with a House, Do This First.

Mon, 20 Apr 2026 15:31:51 GMT

Be honest. Have you started looking at homes online yet? If you have, it’s already time to get pre-approved . Because here’s what not enough people know.

If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – you don’t want to wait until later on in the process to tackle this step.

No matter what you’ve heard, pre-approval isn’t about commitment . It’s about clarity .

And here are the two big ways pre-approval sets you up for success.

You Know Your Numbers Up Front

During the pre-approval process, a lender will walk through your finances and tell you what you can borrow based on your income, debts, credit score , and more. And once you have that number, your search becomes a lot more focused.

With a mortgage pre-approval, you know what you can borrow, so it’s easier to figure out your ideal price point, and what you can actually afford. And that clarity is key.

Because if you just start browsing online and just guess at your price point, you run the risk of falling for a house that’s outside of your price range – or missing out on ones that aren’t.

You want this number to be clearly defined before your search. Here’s why.

You Can Move Quickly When You Find the One

This is how a lot of home searches go today. You scroll through listings just to see what’s out there, and then it happens. You fall in love with something you’ve seen online.

If you’re already pre-approved? You’re probably in great shape.

But if you’re not…

Instead of being able to jump on that house and quickly make an offer, you have to scramble to get a lender, gather the financial documents, and then submit the necessary pre-approval paperwork first. And while you’re waiting to hear back from your lender, someone else who’s more prepared could beat you to the house. As Bankrate explains:

“The best time to get a mortgage preapproval is before you start looking for a home. If you find a home you love but don’t have a preapproval in hand, you likely won’t have time to get preapproved before you need to make an offer...”

And that’s avoidable, with the right prep.

Because while you can’t control when the right home shows up, you can be ready for it. Think of it like showing up to the starting line with your shoes tied and your warm-up done – while everyone else is still looking for parking.

It’s not about rushing your timeline. It’s about removing the delay between finding the right home and being able to move on it.

One Thing You Need To Know About Pre-Approvals

Speaking of timing, pre-approvals do have an expiration date. So, be sure to ask your lender how long it’s good for. The Mortgage Reports explains:

“ Mortgage preapproval letters are typically valid for anywhere from 30 to 90 days. However, a preapproval can be updated and extended if the lender re-checks your information.”

Doing the right prep and knowing this information can make the whole process a lot smoother.

You don’t have to be ready to buy to be ready to buy.

Getting pre-approved doesn’t mean you’re committing to buy right now. It just means you’ve taken a step to understand your numbers. And when a home catches your attention, you’re prepped and good to go.

Bottom Line

Ask yourself this: if your perfect home popped up tomorrow, would you be ready to make a move?

If the answer is no and you want to buy, it may be time to get pre-approved. You don’t feel behind before your search even officially kicks off.

Source: Keeping Current Matters

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How to Form New Habits To Keep Your Home Clutter-Free

Mon, 13 Apr 2026 19:46:14 GMT

Tired of an untidy house? Try a new approach by adopting habits that automatically keep your home orderly

Keeping our homes orderly and free of clutter is a struggle for many of us, especially if we’re not naturally organized . If you fall into this category, there’s definitely hope — you just may need to change your habits. Before you roll your eyes and shrug off that idea as impossible, let me tell you what has helped me keep a tidier home.

I tried a concept called the “habit loop,” which is described in The Power of Habit: Why We Do What We Do in Life and Business, the best-selling book by Charles Duhigg. The habit loop consists of three steps: cue, routine and reward. The cue is a reminder that initiates the new behavior. The routine is the behavior itself. The reward is the benefit you get from implementing the new behavior.

Duhigg says that during the first two weeks of developing a new habit, it’s important to give yourself a treat that you really enjoy right after you complete the new behavior. This will teach your brain to enjoy the new routine. While I’m a professional organizer and really do enjoy decluttering and organizing, I also have an extremely busy life and like to do a lot of other things besides organizing my house. Using the habit loop really helped me get into daily, automatic tidying habits. Perhaps this approach could offer a fresh, effective way for you too to conquer clutter in your home. Here’s how I use it.

Tackle Your Own Spaces First

If you want to form new no-clutter habits, it’s usually easiest to begin by dealing with your own possessions in spaces you don’t share with all family members. Personally, I live with some wonderful but messy people, so if you’re in the same situation, I recommend you start with your bedroom and bathroom.

Duhigg says there’s no precise time frame for how long it takes to form a new habit, but other researchers report it takes 21 to 66 days or even longer. Personally, I needed 21 to 45 days of the habit loop to form a new habit, depending on what the routine was. After that, the behavior became automatic.

1. Make your bed. No matter how messy the bedroom is, a made bed makes it neater. To create a cue for making the bed, pick something you do without fail every day, such as turning off your alarm. It’s best to do the new behavior as soon as possible after the reminder. (I sometimes get distracted if I don’t make my bed right after my cue, and then the bed might remain unmade all day.)

After you make the bed — or, for that matter, after you do any new task you’re trying to make habitual — be sure to reward yourself. Your reward can be as simple as a silent “Good job!” you tell yourself or as ritualistic as brewing your morning cup of coffee and then enjoying sipping it. Just remember to give yourself a compliment or perk for working toward your tidy-house goal.

2. Clear your bathroom counters. Brushing my teeth has become the cue I use to trigger my habit of clearing my bathroom counters both morning and night. Each morning after I brush, I put away my makeup, hair products, blow dryer and toothpaste. Then I wipe off the water that has collected on the countertops. I repeat the routine at night, putting away my lotion and other nighttime beauty products. Then I congratulate myself on a job well done.

Though I didn’t get it right the first few days, within 21 days I knew I’d managed to develop this habit when I automatically began clearing the counters after brushing. For me, coming home to a clean bathroom is the greatest reward!

3. Put away your attire after wearing it. On most days I wear two different outfits, one for work and one for exercise. If I’m not paying attention to where I put my things, a mess can quickly build up. So I decided that removing my clothes would be the cue to place dirty clothes in the hamper and those I’ll wear again neatly in the closet.

If you share a closet with a partner who doesn’t want to participate in this routine, you have a couple of options: You can put your partner’s clothes away or leave them out, knowing that at least half the mess is put away. Since nagging or brooding rarely changes other people’s habits, it might be better to give yourself a reward for cleaning up your own mess and move on.

Tackle Common Rooms Next

As you move into the common areas of your home, prepare for potential barriers to establishing tidy habits since you may be dealing with other family members’ messes. While this can be frustrating, if family members aren’t cooperative I recommend simply focusing on clearing your own mess. Hopefully, your new habits will eventually rub off on your family. If not, well, your home will still be less cluttered than it was before your new habits.

4. Unbury coffee and end tables. Your cue for clearing the tables in your living room could be turning off the television or putting down the book you were reading. Remove cups, glasses and bowls from the room’s flat surfaces and place them in the dishwasher. Put magazines back in their rack or recycle those you’ve finished reading. Place remote controls in a basket next to the television. Put away books and papers and anything else left cluttering the room. Then congratulate yourself. Your living room will look great in the morning when you start your day.

5. Clear the kitchen counters. Mail, school papers, ear buds, cellphones, vitamins, dog treats, receipts, tissue boxes, keys and more can litter kitchen countertops, making food prep difficult. Plus, this type of miscellaneous debris makes the kitchen look messy and disorganized even if cooking surfaces are cleared.

My personal cue for clearing my countertops each night is closing my dishwasher door after I load it. I then scan all the miscellany on the counters and quickly sort and put everything in its place. This may take me an extra 10 minutes, but by doing it each evening I find it is easier to keep the counters clear during the day.

I then reward myself with a small piece of chocolate since this habit is much harder to implement than others! My other reward is coming downstairs in the morning to a clean kitchen.

6. Tidy your front hall. I walk through my front hallway on the way to bed and use the walk as my cue to tidy up the space. We have a hall closet where I can store shoes and coats, and each family member has a basket in the closet for personal items. If you don’t have a front hall closet, you might consider storing catchall baskets under a decorative table. I tell myself, “Great job!” before I head off to bed. It’s wonderful having a clutter-free front hall, especially when unexpected visitors stop by.

Develop New Habits on What You Bring Into Your Home

7. Manage your mail. Mail is a major source of clutter in many homes. To cut down on the volume, you might want to receive bills and magazines electronically. There are also tools available for unsubscribing from catalogs and unsolicited credit card offers; visit DMAchoice.org or Catalogchoice.org for more information.

Even with these steps, mail still has a way of piling up and causing a mess. One relatively easy habit to develop is sorting your mail before you enter the house. I collect my mail from the mailbox and walk directly to my recycling bin, where I immediately place advertising circulars. I then open unfamiliar envelopes (which usually are ads) and toss them in the bin. Since I receive most of my statements electronically, I’m left with very little to bring inside. Remaining items go into an inbox for incoming mail. I then give myself a pat on the back for preventing clutter from entering my house.

8. Be intentional with your purchases. Another habit to consider implementing is being mindful of your purchases. I’ve developed the habit of thinking seriously about the clutter factor of every purchase before buying. As I reach for my credit card, I am reminded to stop and consider whether I already own something that will suffice. I also think about where I’m going to store the item or what I’ll get rid of to make room for the new purchase. For example, when I’m considering a new pair of pants, I ask myself what I have in my closet that might be similar. If I already have too many similar items and don’t want to part with any I already own, I skip the new purchase.

I use a similar approach when considering household and kitchen items. My purchases are always intentional because I’m working hard to live in a clutter-free home. I deserve a big pat on the back for working on this habit. I’m not only reducing clutter but I’m also leaving more money in my bank account at the end of the month to spend on things I truly want or need.

Source: Houzz

What Stays With the House When You Move?

Mon, 30 Mar 2026 15:43:12 GMT

When you’re selling your home , it is natural to assume that anything you can safely remove is yours to keep—like the light fixtures you painstakingly cleaned and repaired, or the appliances you bought last year.

But the truth is, the buyer may want some of those items, too, and sometimes it's better to part ways with these items for the sake of the sale.

Rather than keep everything, you should decide what you'd like to keep and what you'll leave behind as a way to entice buyers into making an offer, particularly in today's market where buyers are holding more of the cards than ever.

What stays with the house?

Generally, certain items stay with the house when you sell and move. Some features may seem obvious, but the truth is, you're probably expected to leave more behind than you think. Some of these items can include:

Built-ins: Built-in bookshelves, benches, and pull-out furniture generally stay inside the home.
Landscaping: Trees, shrubs, and any flowers planted in the ground should stay in the yard.
Wall mounts: If you have TV wall mounts or picture mounts that might damage the wall if you remove them, it is a good idea to leave them in place when you move.
Custom-fit items: If you have custom-made curtains , plantation shutters, or blinds, leave them on the windows and doors.
Hardware : If you upgraded the knobs and drawer pulls in the bathrooms and kitchen, you should either leave those behind or install replacements before you move.
Alarm systems : Wireless alarm systems are designed to be removed. Otherwise, leave the alarm monitoring station attached and either relocate or cancel the monitoring service.
Smoke detectors : Smoke detectors and sprinkler systems should stay in the house, especially if you plan to move before selling the house.

What can you take?

While you’re expected to leave some items behind, in general your belongings are yours to keep. Here are some examples:

Patio furniture, lawn equipment, and play sets : If you have a wooden swing set in the backyard and a bistro table on the front porch, take those items with you.
Appliances : Some lenders require that a home have an oven installed before approving a loan, but for all other appliances, it's up to you to decide what you will take and what you will offer as part of the home.
Some light fixtures : Generally, homeowners leave light fixtures behind, but if you’re attached to a certain fixture, you can make arrangements with the buyer to take it.
Built-in kitchen tools : If you can safely remove a mounted spice rack or the pasta arm, you can take it with you.
Rugs, basic curtains, wreaths : Small decor items like rugs or curtain rods that can be safely removed can be taken.

What should you consider leaving?

Some of your personal items can be used to help sell your house—or increase the asking price. Before you take everything just to take it, consider offering some hot items like the following:

Appliances : Homeowners, especially new homeowners, don’t always have their own appliances. Many buyers would be more likely to place an offer on a home if it came fully stocked with appliances.
Custom swing and play sets : If you have a swing set or playhouse your children have outgrown and you notice a potential buyer has children, offer to include the item with the deal.
Kitchen built-ins : Built-in spice racks, pantry organization, and windowsill shelves can really help sell a kitchen. Consider offering the items to an interested buyer.
Light fixtures, curtains, rugs, and other upgrades : If you’ve upgraded the light fixtures or have custom rugs in the entryway, a buyer may be willing to increase his or her offer to keep those items in the home.

If you’re not sure what would entice a buyer, ask your real estate agent to provide suggestions. Don't have an agent yet? Here's how to find a real estate agent in your area.

Source: Realtor.com

Top Mistakes Homeowners Are Making in 2026 (And How To Avoid Them)

Mon, 23 Mar 2026 18:17:10 GMT

Let’s be clear: selling your house is absolutely possible right now. According to the National Association of Realtors (NAR), roughly 11k homes sell every day in this country.

And the sellers who are making their moves happen all have one thing in common: they’ve adjusted their strategy to match today’s market. They’re realizing inventory has grown. Homebuyers are more selective. And buyer expectations are higher.

The sellers who struggle are usually approaching today’s market with yesterday’s expectations. Here are the three biggest mistakes they’re making – and how to avoid them.

1. Pricing Based on What Their Neighbor Got a Few Years Back

Setting your price is the most important decision you make when you sell – and the one that’s most often mishandled. Realtor.com data shows almost 1 out of 5 sellers in 2025 had to drop their price. Here’s what those sellers went wrong.

Buyers have more choice and more negotiating power now that inventory has grown. And house hunters will actively avoid your house is if feels like it’s priced too high. That’s why overpricing usually leads to:

Fewer showings
Less competitive (or lowball) offers
Longer time on market

And all three of those side effects are things you don’t want to deal with.

What To Do Instead: The good news is the cure is simple. Just price for today’s buyer, not yesterday’s headlines. Lean on your agent’s knowledge of recent comparable sales, current competition, and local buyer behavior to land in the value “sweet spot” that drives traffic and urgency from day one.

2. Trying To Skip Repairs That Buyers Now Expect

A few years ago, you could sell as-is and still get well above asking. Today? Not so much. Right now, NAR says two-thirds of sellers are making at least some repairs.

And the reason why is simple. In a market with more inventory, buyers compare homes side by side. Homes that don’t show well (or feel dated) are going to lose attention quickly, even if the issues are minor.

What To Do Instead: Ask your agent which high-impact, low-stress updates they’d recommend for your house. The goal isn’t perfection. It’s helping buyers see themselves moving in without a mental to-do list. Small investments in staging, repairs, and curb appeal can make a huge difference in how quickly offers come in – and how strong those offers are.

3. Playing Hardball When Buyers Try To Negotiate

Today’s buyers have housing affordability at the top of their minds. And since money is already tight, they’ll be pickier and will probably ask for some compromises from you. Whether that’s making repairs, giving them a credit at closing, or taking just a few thousand dollars off your asking price, negotiating is normal again.

So, if something pops up in the inspection, you’re going to need to be open to talking about it. If you’re not, you may very well see your buyer walk away. And some sellers are figuring this out the hard way. Redfin data shows one of the big reasons home sales fell thru in 2025 was inspection or repair issues. Odds are those homeowners weren’t willing to flex a bit to get the deal done.

What to Do Instead: Meet with your agent to make sure you understand what buyers in your area care the most about. Align your price with value, present the home clearly and confidently, and stay open to reasonable negotiations that keep deals moving forward.

Bottom Line

The sellers who succeed in this market aren’t doing anything extreme. They’re pricing their house right, making strategic repairs, getting local guidance, and making decisions based on how buyers actually behave today. Those small but mighty mindset shifts could make or break your sale.

Want a real plan tailored to your home and your neighborhood? Talk to a local agent.

Source: Keeping Current Matters

10 Aging-in-Place Features Pros Swear By

Mon, 16 Mar 2026 15:56:22 GMT

They’re often called aging-in-place features, but things like curbless showers, nonslip flooring and wide walkways and doorways can benefit everyone, no matter their age or ability. “Regardless of aging in place, there is a place for these in day-to-day life, whether it be a teenager on crutches, a family member having had surgery, active kids,” designer Dana Bass says. “It’s not just about aging in place. We’ve got to account for unplanned life emergencies.”

Designer Tammy Battistessa of Ellaire Kitchen & Bath Design agrees. “Whenever possible, I include aging-in-place and universal design features in every project, as I believe many of these features benefit clients of all ages and abilities, in addition to allowing a client to safely remain in their home for a longer period of time,” she says.

Creating a home that can adapt also makes it more sustainable. “Aging in place is a key element to making legacy homes that can evolve over time,” architect Tim Barber says. With all that in mind, we asked more than 50 home design and construction professionals to share the aging-in-place features they always recommend. Here are the 10 that came up again and again.

1. Wide Walkways and Doorways

Planning ahead is one of the most important steps when incorporating aging-in-place features. Many of these elements require thoughtful design and construction, so it’s wise to start early — and to consider hiring professionals who understand the nuances. “Thinking through how you will really use the space makes all the difference,” designer Haiku Durden of HDS Design says. “Having a designer involved really makes a difference.”

A professional can help you create a plan that works for your current needs and anticipates future ones. “We currently default to aging-in-place features when our clients are near retirement or retirement age,” says designer Jenny Guggenheim of Guggenheim Architecture and Design Studio . “Preplanning by adding blocking behind the wall finish, spacious floor planning to allow for wheelchair or walker use.”

In fact, spacious layouts are among the most commonly recommended aging-in-place strategies. Wide walkways and doorways — and generous clearances around furniture and fixtures — make it easier for anyone to move through the home comfortably. Installing a continuous flooring material throughout also reduces tripping hazards caused by changes in height or texture between rooms.

Wide doorways and pathways are essential components of an aging-in-place design. “If space allows, I always design with a minimum of 36-inch doorway openings,” Battistessa says. This extra width provides easier access for mobility aids like walkers and wheelchairs and simply makes moving through the home more comfortable for everyone.

It’s also important to keep hallways and transitions between rooms simple and direct. “All connections from hallways into another space need to be more direct, or broader,” designer Cathy Cherry of Purple Cherry Architects says. “The goal is to avoid creating tight turns, so when aging in place you can navigate those connections easily.”

In the kitchen, designers recommend at least 48 inches of clearance between countertops and an island to ensure a safe and accessible work zone. “We make sure aisleways in kitchens are 48 inches or more,” designer Alex Bowman of Kirby Kelly Studio says. “That really helps plan for future assisted access.”

Appliance placement and workflow are equally important. “Make sure you really consider the kitchen triangle as you get older,” builder Amy Hendel of Hendel Homes says. “You want to have your kitchen very functional.”

2. One Floor, No Steps

Many design and construction professionals agree that the safest homes are single-level and with minimal or no steps. “Ideally, there are no steps at all throughout the house, from the garage to the house, or into showers,” Cherry says.

Thoughtful layout decisions can also make daily life easier. Designer Stephanie Larsen recommends placing the garage close to the kitchen whenever possible. “When possible, this thoughtful choice allows for added ease when unloading heavy groceries,” she says.

Even if you’re not building a home from the ground up, there are still smart layout strategies to consider. “In a two-story home, we might reconfigure the downstairs to create a comfortable and accessible living space so clients can avoid frequent trips up and down stairs,” designer Maegan Swabb of M. Swabb Interior Design says.

Swabb says her firm uses Houzz Pro software for all of its accounting and client communication needs.

A spacious primary suite on the first floor is another key element of an aging-in-place design. It’s important to allow ample room to move comfortably around the bed and furnishings — and to accommodate medical equipment if needed. “When planning for long-term aging in place, you’re not solely thinking about access issues,” Cherry says. “You’re also thinking about potential staffing support issues, how to provide fantastic views should one become bedridden, the ability for individuals to move themselves and the ability for others to be able to move them.”

If steps can’t be avoided, consider adding a ramp with a gentle slope to create a smooth and accessible transition into the home.

3. Curbless Shower

One of the most highly recommended features for aging in place is a curbless shower. By eliminating the threshold into the shower area, this design creates a smooth, barrier-free entry that enhances safety and accessibility — especially for those using a wheelchair or walker or who have limited mobility. “I always recommend that clients invest in curbless showers and grab bars,” Larsen says. “These additions help to avoid trips and slips and are functional in the event that a wheelchair or walker is needed when they are older.”

4. Grab Bars

Grab bars are an essential component of any bathroom designed for aging in place — but they require proper planning. These safety features can’t be mounted just anywhere. Structural backing must be installed behind the wall to ensure the bar can safely support weight and pressure during use. Even if you don’t need grab bars right away, design and construction professionals strongly recommend adding the necessary backing during a remodel or new build so the space is prepared for future installation.

Modern grab bars are also more stylish than ever. Many double as towel bars or toilet paper holders, blending seamlessly into the space. Some even come as part of coordinated bathroom fixture collections, making it easy to match them with shower heads, faucets and other components.

Professionals recommend installing grab bars in the shower — particularly near a bench — and alongside the toilet to enhance safety and offer support where it’s needed most.

5. Bench

A bench is a crucial aging-in-place feature in a shower, offering a comfortable place to sit if needed. Paired with a nearby handheld sprayer, it allows users to shower while seated with ease and independence.

Designer Donna Kirsopp of Schloegel Design Remodel created a curbless shower with double doors specifically meant to accommodate wheelchair access. “The shower features a handheld shower head on a sliding bar, which doubles as a grab bar,” she says. “A thoughtful detail is the angled bench, providing a more ergonomic seating position that allows feet to rest comfortably behind, making showering while seated much easier. To enhance the experience further, the entire bathroom floor and shower bench are heated, offering a luxurious touch while maintaining functionality.”

Designer Kristen Benavides of Benavides Design House recommends a freestanding bench “so it can move around to accommodate a helper in the space if also needed down the road.”

6. Handheld Sprayer

As mentioned, a handheld sprayer positioned near a bench enables homeowners to sit and rinse off safely and comfortably. It also provides greater functionality for caregivers assisting with bathing. For added convenience and safety, choose models mounted on a slide bar that doubles as a grab bar.

7. Nonslip Flooring

Nonslip flooring is a smart choice throughout a home, but it’s especially critical in bathrooms and kitchens, where water exposure is frequent. In bathrooms, designers often recommend mosaic tiles with matte finishes and multiple grout lines, which offer improved traction. Classic pebble tile is also a popular option thanks to its naturally textured surface that helps prevent slips.

8. No-Bend Features

For many, bending over can cause pain or increase the risk of injury. When creating a kitchen for aging in place, pros try to minimize excessive bending and reaching. Wall ovens are a popular solution. “Many clients prefer a double oven or wall oven instead of the standard range so they don’t have to bend over to open the oven,” designer Alena Zoghi of Eskan Design Build says.

Drawer storage is another highly recommended feature for aging-in-place kitchens. “This reduces the need to bend down and reach for items, making it safer and more convenient,” designer Melissa Powell of Design Shop Home & Interiors says.

Designer Bonnie Kespohl of Kasa Interior Design agrees. “I’m recommending more drawer storage over cabinet doors with shelves to eliminate the need to squat down to see what’s inside a cabinet,” she says. “Pulling out a drawer and looking inside from the top view is a lot less strenuous and more efficient storage. You’re able to see what’s inside the space all the way to the back, which is so much more user-friendly.”

Barber always includes “wall ovens that don’t require bending, freezers on the bottom of refrigerators, plate storage at a convenient height and pullout shelves and Hafele magic corner base units to make deep spaces accessible. We often design counters at varying heights, especially for bakers, enclosures for small appliances at countertop height and shallow spice shelves at eye level on the back side of wall cabinet doors.”

Designer Katie Geresy of KTG Design recommends raising countertop heights to 37 inches. “The standard is 36 inches, but we always like to add an extra inch because you do notice the difference,” she says. “You don’t have to slightly bend at all when working in your kitchen or using the sink in your bathroom.”

If you’re including upper cabinets or already have them, consider installing pull-down shelving systems like the one from Rev-A-Shelf shown here. These systems bring items down to a comfortable, reachable height, reducing the need to stretch, reach or lift awkwardly.

Another smart idea is to raise laundry appliances to a more comfortable working height. Adding a pullout shelf below provides a convenient spot to place a laundry basket.

9. Abundant Lighting

As we age, our eyesight often diminishes, making well-lit spaces essential for safety. Poor lighting can increase the risk of accidents, so it’s important to provide ample, thoughtfully layered lighting throughout the home. “Our lighting is usually on a smart system — one easy button press will illuminate an entire room’s scheme — so you’re not running all over the place trying to light a space,” Bowman says.

In the kitchen, combine recessed ceiling lights with pendant fixtures and undercabinet lighting to create balanced, versatile illumination. Low-level lighting, such as LED strips installed in toekicks, is also a great addition — it softly lights pathways and helps prevent trips and falls during the night.

Here’s a good example of toekick lighting. This soft, low-level lighting is also recommended for bathroom vanities to provide safe guidance during nighttime bathroom visits.

“Glare is another important consideration when selecting materials,” designer Jennifer Morris of JMorris Design says. “Shiny surfaces can be hard on the eyes.” Morris uses Houzz Pro software to help manage her design projects.

10. Easy-to-Grip Levers and Handles

Grip strength is an important consideration when designing a home for aging in place. Small cabinet knobs can be hard to grasp and pull, and traditional faucet knobs often require awkward twisting motions. That’s why experts recommend choosing faucets with lever handles and cabinet hardware with sturdy pulls. “These are easier to operate than traditional knobs, making them more accessible for those with limited dexterity,” Powell says.

Another convenient option is a touch-free faucet, which activates with a simple wave of the hand. Some models even respond to a gentle tap on the faucet, offering hands-free control that’s both hygienic and user-friendly.

Source: Houzz

The Price You Set Can Make (or Break) Your Sale

Mon, 02 Mar 2026 15:00:02 GMT

There’s one decision you’re going to make when you sell that determines whether your house sells quickly, or it sits. Whether buyers make an offer, or scroll past it. Whether you walk away with the maximum return, or you end up cutting the price later.

And that’s your asking price .

The #1 Mistake Sellers Make Today: Trusting the Wrong Number

If you’re thinking of moving and trying to figure out what your house may sell for, it’s tempting to start with an online home value tool. They’re fast, free, and easy. And you don’t have to talk to anyone. But here’s the problem: they don’t know your house.

And that can be a bigger drawback than you realize.

Where Online Estimates Fall Short

Online tools often lag behind the market. They look in the rearview mirror, relying on closed sales and delayed information. And in that sense, they’re using incomplete data .

That’s not a miss in how these systems are built. Some information just isn’t available online. Bankrate explains:

“ While these tools can be a useful starting point, keep in mind that they typically do not provide the most accurate pricing. Algorithms can only rely on the information available; they can’t account for things like a home’s condition or renovations made since the last public information was updated.”

They can’t see:

The unique features that make your house special
All the work you’ve put in to keep it in good condition
Or, how in-demand your specific neighborhood is right now

So, while they may do a good job in some cases, they can’t be as accurate as a local agent who has boots on the ground day in and day out.

In a market where buyers have more options, a seemingly small margin of error can cost you thousands if you price too low, or weeks of lost momentum and time if you price too high.

If you want to sell for the most money and in the least amount of time, you don’t want the fast answer on how to price your house. You want the right one.

That’s why the savviest homeowners today don’t rely on algorithms when it actually matters. They rely on people, specifically trusted local agents.

What an Expert Agent Brings to the Table

According to 1000WATT , sellers overwhelmingly believe real estate agents have the best sense of a home’s true value, far more than any automated tools.

That confidence isn’t accidental. As Bankrate puts it:

“A professional appraiser or real estate agent can visit the home in person, assess the neighborhood as a whole as well as the individual property, perform more thorough market research, and consider subjective details.”

And those details matter. A skilled local agent doesn’t just pull reports. They know what’s happening right now:

What buyers are paying this month , not last month, or even last year
How your home compares to the current competition in your neighborhood
Which features add value based on what buyers are willing to pay for today
How to price your house to create urgency in this market

And once an agent steps foot in your house, they may even find your online estimate undershot your value. So, if you stuck with the estimate you got online, you’d actually be leaving money on the table. And no one wants that.

Bottom Line

While online tools can give you a rough starting point, only a local expert can give you a price that actually works .

If you want to know the right number for your house, not just the easiest one to find, connect with a local real estate agent.

Source: Keeping Current Matters

Top 3 Reasons To Buy a Home Before Spring

Mon, 23 Feb 2026 19:12:26 GMT

If you’re planning to buy a home this year, you may be focused on the spring market. And hoping that when spring does hit, you’ll see:

Mortgage rates drop a little more.
More homes hit the market.

But here’s what most buyers don’t realize. Buying just a few weeks earlier could mean paying less, dealing with less stress, and feeling less rushed.

Here are three reasons why accelerating your timeline over the next few weeks could actually be a better play.

1. Holding Out for Lower Rates May Not Pay Off

A lot of buyers are hoping mortgage rates will fall even further. But that’s not the best strategy. Here’s why. Experts are pretty aligned on this: rates are expected to stay roughly where they are.

Forecasts throughout the industry all point to the same thing: rates are projected to be in the low-6% range this year ( see graph below ) :

That’s not a bad thing, especially if you consider how much rates have already come down . Over the past 12 months, they’ve dropped roughly a full percentage poin t. And for many buyers, that means affordability has already improved more than they may realize.

So why wait a few more weeks just for more buyers to jump in and act as your competition? You already have a window right now. As Chen Zhao, Head of Economics Research at Redfin , explains:

“House hunters should know that this may be near the lowest mortgage rates fall for the foreseeable future .”

2. Spring Means More Competition + More Stress

Speaking of competition, the spring market is popular for a reason, but with popularity comes pressure. With more buyers active at that time of year, you’ll have to move faster once you find a home you like. And no one likes feeling rushed.

But buy now and you have more time to browse. Fewer people are looking, so homes sit longer.

You can see this play out in the data from Realtor.com ( see graph below ). In winter months, it takes an average of about 70 days for a home to sell. In spring? That drops to about 50 days. That’s a 20-day swing – and that pace is going to be more stressful.

How an Agent Can Help

So, what should you do? The answer isn’t one-size-fits-all. It’s going to depend a lot on your house and your local market.

And that’s why working with an agent is a must. The right agent will help you weigh your options and anticipate what your house may sell for either way – and that can be a key factor in your final decision.

If you choose to sell as-is: They’ll call attention to the best features, like the location, size, and more, so it’s easy for buyers to see the potential, not just the projects.
If you decide to make repairs : Your agent can pinpoint what’s really worth the time and effort based on your budget and what buyers care about the most.

The good news is, there’s still time to get repairs done. Typically speaking, the spring is the peak homebuying season, so there are still several months left before buyer demand will be at its seasonal high. That means you have time to make some repairs, without rushing or stressing, and still hit the listing sweet spot.

The choice is yours. No matter what you end up picking, your agent will market your house to draw in as many buyers as possible. And in today’s market, that expertise is going to be worth it.

Bottom Line

While selling as-is can still make sense in certain situations, in some markets today, it may cost you. So, no, you don’t have to make repairs before you list. But you may want to.

To make sure you’re considering all your options and making the best choice possible, connect with an agent to have a quick conversation about your house.

Source: Keeping Current Matters

Thinking about Selling Your House As-Is? Read This First.

Mon, 19 Jan 2026 18:47:21 GMT

If you’re thinking about selling your house this year, you may be torn between two options:

Do you sell it as-is and make it easier on yourself? No repairs. No effort.
Or do you fix it up a bit first – so it shows well and sells for as much as possible?

In 2026, that decision matters more than it used to. Here’s what you need to know.

More Competition Means Your Home’s Condition Is More Important Again

Over the past year, the number of homes for sale has been climbing. And this year, a Realtor.com forecast says it could go up another 8.9% . That matters. As buyers gain more options, they also re-gain the ability to be selective. So, the details are starting to count again.

That’s one reason most sellers choose to make some updates before listing.

According to a recent study from the National Association of Realtors (NAR), two-thirds of sellers (65%) completed minor repairs or improvements before selling ( the blue and the green in the chart below ). And only one-third (35%) sold as-is :

What Selling As-Is Really Means

Selling as-is means you’re signaling upfront that you won’t handle repairs before listing or negotiate fixes after inspection . That can definitely simplify things on your end, but it also narrows your buyer pool.

Homes that are move-in ready typically attract more buyers and stronger offers. On the flip side, when a home needs work, fewer buyers are willing to take it on. That can mean fewer showings, fewer offers, more time on the market, and often a lower final price.

It doesn’t mean your house won’t sell – it just means it may not sell for as much as it could have.

How an Agent Can Help

So, what should you do? The answer isn’t one-size-fits-all. It’s going to depend a lot on your house and your local market.

If you choose to sell as-is: They’ll call attention to the best features, like the location, size, and more, so it’s easy for buyers to see the potential, not just the projects.
If you decide to make repairs : Your agent can pinpoint what’s really worth the time and effort based on your budget and what buyers care about the most.

The choice is yours. No matter what you end up picking, your agent will market your house to draw in as many buyers as possible. And in today’s market, that expertise is going to be worth it.

Bottom Line

While selling as-is can still make sense in certain situations, in some markets today, it may cost you. So, no, you don’t have to make repairs before you list. But you may want to.

To make sure you’re considering all your options and making the best choice possible, connect with an agent to have a quick conversation about your house.

Source: Keeping Current Matters

Smart Home, Big Risks: Top Cybersecurity Threats Homeowners Need To Know

Mon, 12 Jan 2026 18:35:25 GMT

Smart home devices are becoming increasingly common. From webcams to thermostats, to TVs and even AI-improved refrigerators, homeowners have an array of choices to make their lives easier. These devices can also boost home prices, making them a worthwhile investment.

Yet, these smart home gadgets can also be compromised and are subject to a slew of cybersecurity threats.

In fact, Rambus , a chip and silicon IP provider, found that an eye-popping 80% of Internet of Things (IoT) devices “are vulnerable to a wide range of attacks.”

Mike Halbouni , founder of PoyntGuard , a security camera and surveillance installation company, said that as homes become more connected, cybersecurity is just as critical as physical security.

“Every smart device that connects to your network, including cameras, doorbells, thermostats, smart locks, and voice assistants, can become a potential entry point for hackers if not properly secured,” he said.

Common cybersecurity threats, from weak passwords and credentials

Jason Chen , technical director and tech expert at JarnisTech , a professional electronics manufacturer, said that the more “smart” your home gets, the more exposed you become.

“Convenience has a cost, and that cost is usually hidden in the fine print of your device’s security settings,” he said.

The most threat to your smart home security comes from weak default credentials and passwords, according to Thomas S. Hyslip , assistant professor of instruction for the M.S. in cybercrime program in the criminology department at the University of South Florida .

As Hyslip explained, many smart devices, including smart cameras, baby monitors, smart doorbells, network routers, and smart hubs, are shipped with publicly known or easily guessable factory passwords and settings, such as "admin" or "123456.”

“Cybercriminals use automated tools to scan the internet, searching for devices with these default settings to gain immediate and full control, potentially compromising your entire home network,” he said.

To mitigate this threat, homeowners must change passwords immediately and often.

Another tip: Avoid inexpensive IoT devices with hard-coded, unchangeable passwords, as these products are permanently vulnerable to takeover and pose an unacceptable risk to your network security, he added.

Lack of knowledge

Tony Anscombe , chief security evangelist at ESET, a cybersecurity vendor, echoed the sentiment, saying that smart devices introduce several potential risks, the primary ones being privacy and security.

Anscombe added that consumers need to ensure they understand exactly what data is being collected by smart devices, how it’s being secured, where it’s being stored, and whether it will be used for any other purposes or shared with a third party.

Tim Kravchunovsky , CEO of Chirp , an IoT solutions provider for short-term rentals, also said that the biggest cybersecurity threat most homeowners face isn’t a single device, it's their own home network and IT knowledge.

“Depending on how much home automation someone has, their devices may hold extremely sensitive information. Yet most people who automate their homes aren’t very technical, and that lack of expertise creates wide security gaps,” he said.

He added that nearly all consumer IoT devices operate over Wi-Fi. Once an attacker gains access to a home’s Wi-Fi network, which is often far easier than people think, they can pivot to the devices themselves and access the data flowing through them.

“Businesses recognized this risk years ago, which is why many now isolate IoT devices in a completely separate environment rather than letting them live on the main network,” he said.

Smart cameras and doorbells

According to Chen, these devices, which are designed to keep you safe, are actually easy prey for hackers themselves.

“I know individuals who have used hacked cameras to spy on families, to record them inappropriately, to even broadcast those feeds for everyone to see without their consent,” he said, adding that this happens because many people never update default passwords, update firmware, or connect cameras to their main Wi-Fi networks.

“A hacker, after penetrating, can monitor all of your movements—literally,” he said.

Chen added that to fix this, there are several steps you can take: turn on two-factor authentication (2FA); change all default login credentials; and set up a separate Wi-Fi network just for smart devices.

Smart speakers and voice assistants

Dave Meister , cybersecurity evangelist of Check Point Software Technologies , said there have been instances in which attackers have tricked these devices into making purchases or controlling other smart-home features. They’re also constantly listening, which makes them a privacy risk if not configured well, he said.

What to do: According to Meister, turn off voice-purchasing, use strong and unique passwords, and use the physical mute button when you’re not using it.

And as Chen said: “The golden rule here is if a device is always listening, assume it is always collecting and act accordingly.”

Smart locks and garage systems

Smart locks make life easier, especially for those among us who constantly forget where they put their keys.

However, as Chen put it, these introduce a terrifying vulnerability: If someone compromises your smartphone or your Wi-Fi, your front door could literally unlock for them.

“The same goes for connected garage systems. Many rely on cloud-based apps that, if breached, could grant access to your home in seconds,” he said.

Instead, Chen urges homeowners to use locks with end-to-end encryption; lock down your smartphone with biometrics and remote wipe options; and audit who has access—remove old guest codes or app permissions you’ve forgotten about.

Smart TVs and streaming devices

Gene Petrino , lead adviser for Security.org , a company specializing in personal and home security, and a retired SWAT commander, said that many devices include microphones and cameras that can be exploited if security is weak.

Petrino recommends turning off unused connectivity features, such as voice control and camera, and only installing apps from trusted sources. In addition, he urges homeowners to enable firmware updates regularly.

“Think of your smart home like a digital ecosystem; each device is a door. The more devices you connect, the more doors you create. Secure each one with strong passwords, regular updates, and separate networks for critical systems,” he said.

Check Point Software Technologies’ Meister added that, surprisingly, these are among the most vulnerable devices in the home.

“A lot of the cheaper streaming boxes run old software, and we’ve seen cases this year where malware actually came pre-installed on knockoff devices people bought online. Once they’re plugged in, they can be used for things like click-fraud or even large-scale attacks,” he said.

Meister offered another tip: Stick to reputable brands and keep up to date.

Home Wi-Fi router

“The router is basically the front door to your digital house,” said Meister.

As he noted, the average home sees dozens of attack attempts a day, and a lot of IoT traffic isn’t encrypted at all. If your router is old or still using the default login, it’s an easy target.

What you can do is use a strong Wi-Fi password and turn on automatic updates, he said.

Smart thermostats

Security.org’s Petrino said attackers can gather data on your daily routines—like when you’re home or away—or use unsecured devices to access your entire Wi-Fi network.

He said that homeowners should create a separate network for smart devices, use strong router passwords and WPA3 encryption, and avoid connecting unnecessary appliances to the internet.

Meister also cautions that many owners don’t realize appliances can be hacked, too, and that older or cheap models often never get software updates, which means any vulnerability lives forever.

His advice? Before buying, check whether the brand actually updates its products. And if a device stops getting updates, it’s time to replace it.

“If I had to give homeowners one simple rule, it’d be this: Treat every smart device like a tiny computer. Update it, use a strong password, and don’t put it on the same network as the devices that actually matter, like your laptop or phone,” he added.

Source: Realtor.com

When Is the Right Time to Downsize Your Home?

Mon, 05 Jan 2026 20:53:18 GMT

Downsizing your home is a major decision, and the right moment to act is not always obvious. The best time to downsize is whenever your current home no longer aligns with your financial, lifestyle, or personal needs. It’s less about the market and more about your life stage. But deciding to downsize can be hard, and leaving a home filled with cherished memories can bring heartache.

So, when is the right time to downsize? If owning your home in Seattle, WA , or renting a house in Portland, OR , has brought more stress and worry than joy in recent years, the time may be right to downsize into something smaller. In this Redfin real estate article, we’ll explore how, by considering financial, emotional, and maintenance factors, you can determine if now is the perfect time to trade your large property for a smaller, more manageable space.

Financial signs you should consider downsizing

Your finances often provide the clearest signal that it is time to downsize. Carrying a large mortgage or facing ever-increasing utility and maintenance bills can put unnecessary strain on your budget.

High maintenance costs : Is your maintenance budget constantly being stretched by repairs on a large or older home? The costs of running and maintaining unused square footage add up significantly over time. Downsizing can drastically reduce these expenses, freeing up money for other goals.
Nearing or entering retirement : Many people choose to downsize right before or as they enter retirement. This is an excellent opportunity to reduce housing payments, eliminate your mortgage, and unlock home equity. As Patricia Cavanaugh of The 3rd Act , a retirement planning service for seniors, says, “It’s time to downsize when your personal possessions and material goods are weighing you down and preventing you from making room for your new retirement lifestyle.”
Desire to free up equity : Selling a larger, more expensive home and buying a smaller one means you will have a substantial amount of equity released. This money can be used to travel, invest, or simply create a more secure financial cushion for the future.

Lifestyle and emotional indicators

Beyond money, your day-to-day life is a powerful indicator of whether a smaller home makes sense. The way you use your space can reveal if your home is now too big for your needs. Living a simpler life may offer helpful benefits to your emotional and mental health.

Becoming an empty nester : When your children move out, you might find yourself with multiple unused bedrooms and living areas. This space not only costs money to maintain and heat, but it can also feel unnecessary. Downsizing to a cozier home allows you to repurpose that space and focus on a new, simpler chapter.
Too much unused space: Walk through your home and identify rooms you rarely or never use. If you have rooms that feel like storage areas rather than functional living spaces, it is a sign that your home is simply too large for your current lifestyle. Downsizing allows you to live more efficiently.
A simpler, less demanding life : Large properties require a lot of effort to clean, maintain, and landscape. If you are starting to feel burdened by the chores associated with your home, downsizing to a smaller house or a low-maintenance condo can dramatically improve your quality of life. This trade-off gives you more time for hobbies or relaxation.

What about the housing market?

While your personal situation is the most important factor, the market can influence your timing. The best financial time to downsize is generally when your current home’s value is high. This allows you to maximize the profit from the sale, which directly translates to more funds for your smaller purchase.

However, remember that when sale prices are high, so are purchase prices. A good real estate agent can help you analyze the market to find a sweet spot where you achieve the best outcome on both transactions.

Making the move

Once you decide it is the right time to downsize , the next big step is to declutter. This process can be the most time-consuming part of the move. Leaving an old home can be an emotional process, so the best approach is to start early and be ruthless about what you truly need. Focus on organizing, donating, and selling items well before you list your property .

Frequently asked questions:

What is the main benefit of downsizing?

The main benefit is financial: Reducing your monthly expenses, cutting utility and maintenance bills, and freeing up a significant amount of home equity.

Will downsizing definitely save me money?

In most cases, yes. While the cost of moving and closing on a new, smaller home is a factor, the long-term savings from lower property taxes , lower utility costs, and reduced or eliminated mortgage payments almost always result in substantial savings.

What should I do before I list my current home?

The most important step is decluttering and organizing every space. A home that is neat and free of excess belongings shows much better to potential buyers and makes your eventual move much easier.

Source: Redfin

How to Thrift Your Entire Christmas, According to People Who Do It Every Year

Mon, 15 Dec 2025 20:36:23 GMT

With a new crop of trendy gifts debuting each year, it's easy to be convinced that the latest is always the greatest. But if you ask a growing number of thrifters, what’s old is new.

Megan Bannister , a Des Moines, Iowa-based writer and the owner of Olio Oddities (a home store with curated thrifted finds), has been thrifting "for as long as I can remember. I’ve made it a regular part of my gifting routine for the past 5 or 6 years."

She’s in good company with lifelong thrifter Grace Kraemer , a Chandler, Arizona-based content creator and social media strategist known as @ thatgenzwife on TikTok, and Bre Eggert, the Milwaukee, Wisconsin-based content creator and thrifting expert behind Average But Inspired . All three are passionate Thriftmas shoppers. They swear that it’s the solution to save money, waste, and share personal, memorable presents with those they love.

Read on for a primer to all things Thriftmas, plus all of their best secrets if you’d like to follow suit.

What Is Thriftmas?

Thriftmas promotes the idea that "secondhand gifts are completely appropriate and beautiful presents to both give and receive," Eggert explains.

"This movement is based on the idea that there is already plenty of 'stuff' in the world, whether that's giftable items or holiday decor," Bannister adds.

So instead of shopping for new holiday gifts at big box stores or online, with Thriftmas, you are consciously making investments in previously-loved gems that feel "intentional and special," according to Kraemer, but are markedly more sustainable, unique, and often more budget-friendly.

Why December Is the Perfect Time to Thrift Gifts

Vintage finds have long held appeal, so you might be wondering, 'why is Thriftmas having such a moment?' Kraemer believes it’s related to two major factors: " Budgets are tight for a lot of families, so buying the latest and greatest new thing this holiday season just isn’t an option for a lot of people," she says. "Plus, I think that many of us are also realizing how much overconsumption rears its ugly head this time of year."

Compared to the other 11 months of the year, sustainability experts estimate that Americans produce about 23% more waste in December, with a large portion of that related to the packaging required for online purchases .

”Thriftmas gives mindful shoppers an affordable alternative to the hustle and bustle of keeping up with the latest holiday shopping trends,” Kraemer says, while offering the opportunity to share a one-of-a-kind find that will warm the heart of the recipient.

Even if you’ve made your list and checked it twice, Thriftmas can still be part of the strategy this year — and it’s easy to implement if you follow these tips from the pros.

Set a Budget

Before you step foot into any thrift stores, Kraemer recommends setting a rough budget for how much you plan to spend on each person. Consider tacking on a bonus fund to account for any discoveries that are perfect for a specific person but slightly over their allocated limit. (You might find something much less expensive than expected for another individual, too, offering natural balance.)

"The great thing about thrifting is that you're often able to stretch your budget further than you would through traditional gifting. Since you're more likely to be putting together a collection of items when thrifting, a budget range gives you some room to pair bigger items with smaller, more budget-friendly finds," Bannister says.

Keep the Recipient Top of Mind

Even the most epic Thriftmas find will be a flop if it doesn’t speak to the individual who unwraps it. Above all else, keep in mind the person you’re buying a gift for and whether or not they will appreciate an item, Kraemer advises.

"There is something so special about combing through items in a thrift store and finding a piece that instantly reminds you of a specific person. Gifting that item shows the person that you pay attention to the things they like and that you specifically thought of them when you stumbled upon the piece," Kraemer adds.

This shows the thought that went into it, instead of just checking a name off a shopping list, Eggert agrees. Their passions might be able to help direct your shopping stops, too. For friends who love to hike, for instance, Bannister visits shops she knows stick vintage National Parks memorabilia, maps and postcards. For her pet-loving pals, Bannister searches for stores with ceramic pieces, vintage art or even dishware that feature animals similar to the beloved furry friend.

Be Willing to Change Course

As important as it is to maintain focus on what might be the perfect fit for your sister or best friend, it’s extremely challenging to shop according to a fixed list.

"When it comes to thrifting for holiday gifts, I've found it's important to have an idea in mind, but be willing to pivot. Unless you've got lots and lots of time to spend searching, having something super specific in mind, is going to make your shopping experience more difficult," Bannister notes.

Have a general idea of what you'd like to give (think: sports memorabilia or a vintage cooking tool in a color that matches their kitchen). This way, you'll have a better shopping time — and end up with cooler gifts. For example, if you're shopping for a friend who loves to host, you could pair together some fun vintage glasses, a unique tray, and some retro coasters or a funky bottle opener. Keeping an eye out for things that fit into that theme rather than looking for one singular item will make it a lot easier to put together gifts that feel cohesive.

Start Early and Shop Often

Sometimes, saving money requires a trade-off. If you’re investing less cash and want to have the same impact, you may need to devote more of your time instead, Kraemer admits: "With patience and repeat visits to the thrift store, however, I think you’ll find that your time investment will pay off."

Avoid waiting until the last possible moment to thrift your gifts, as you might fall victim to panic-buying something random or tacky, Kraemer warns. If it feels daunting initially, Eggert suggests adjusting your mental script from "ugh, I have to do this" to "I’m on a treasure hunt quest!"

"Thrifting is all about frequency," Bannister chimes in. "Not only does it take time to hone your eye for thrift shopping, but the more frequently you pop into a thrift store, the more likely you are to have shopping success. The earlier you can start your Thriftmas shopping, the better."

Seek Out Ready-to-Gift Goods

"Just because something is a great deal or could make for a killer DIY project doesn't mean that you're going to have the time — or, let's be honest, the desire — to upcycle it into the best gift it can be," Bannister says. "Instead, I recommend being realistic about both your skills and your bandwidth to transform thrifted items."

In addition to not requiring a full glow-up, Eggert seeks out items that are unique and unlike anything you might easily score from a major retailer.

"That uniqueness can come from the object itself or from the look or patina it has. For example, a set of vintage brass candlestick holders has a look totally different from a factory-finished brass set you find at a chain superstore. I think finding unique items takes gift-giving to another level," Eggert says.

Inspect the Quality

Before adding anything to your cart, analyze it carefully because thrifted items usually cannot be returned, Eggert flags.

"Avoid thrifting objects that are broken, stained, or missing pieces. Nobody wants to receive a damaged gift," she says.

Everything you purchase should be in good condition or could be easily cleaned, and should be constructed well with quality materials—and only safe building blocks.

"Definitely steer clear of anything with lead in it. While you can purchase inexpensive lead test kits online and test items once you’ve purchased them, it’s a good rule of thumb to proceed with caution when it comes to vintage dishware, ceramics, and pottery made before 1971," Eggert explains.

Stay Focused

Thrifting is for anyone and everyone, Kraemer reminds us, "and you don’t need a special sauce to be able to do it. However, what will set you apart from other shoppers in the thrift store is if you can train yourself to slow down and focus on what’s in front of you."

It’s very easy to get overstimulated by the dizzying array of options in a thrift store, she admits, and for the best finds, you must be present and anchor yourself in one area at a time. With practice, you can train your brain to be where your feet are, and teach your eyes to zoom in on the gems. At a certain point, you might find it meditative like Kraemer, who calls "thrifting Christmas gifts as some sort of therapy."

Beyond staying in the moment mid-shop, it’s wise to not lose track throughout the year. To track along with her Thriftmas progress, Bannister likes to keep a note in her phone with a running list of thrifted categories she’s seeking — and what she’s already snagged. Then when she’s out and about, she has an easy reference for the things she’s still treasure hunting for and what she already has stashed away from earlier in the year.

Source: HGTV

How To Make Sure Your Sale Crosses the Finish Line

Mon, 10 Nov 2025 19:51:45 GMT

If there was one simple step that could help make your home sale a seamless process, wouldn’t you want to know about it?

There’s a lot that happens from the time your house goes under contract to closing day. And a few things still have to go right for the deal to go through. But here’s what a lot of sellers may not know.

There’s one part of the process where some homeowners are hitting a road bump that’s causing buyers to back out these days. But don’t worry. The majority of these snags are completely avoidable, especially when you understand what’s causing them and how to be proactive.

That’s where a great agent (and a little prep) can make all the difference.

What’s Causing Some Buyers To Back Out

The latest data from Redfin says 15% of pending home sales are falling through . And that’s not wildly higher than the 12% norm from 2017-2019. But it is an increase.

That means roughly 1 in 7 deals today don’t make it to the closing table. But, at the same time, 6 out of 7 do. So, the majority of sellers never face this problem – and odds are, you won’t either. But you can help make it even less likely if you know how to get ahead.

You might assume the main reason buyers are backing out today is financing. But that’s actually not the case. The most common deal breaker today, by far, is inspection and repair issues (see graph below):

Here’s why that’s a sticking point for buyers right now:

Buyers are already stretched thin from high prices and challenging mortgage rates, so they don’t have the appetite (or budget) for unexpected repairs.
If they’re going to spend all that money, they want to get something that’s move-in ready. They don’t want to take on another high-cost project themselves.
They have more homes to choose from, so if yours seems like a hassle or if you’re not willing to fix something, they can just move on.

The sellers with the best agents have heard about this shift and they’re doing what they can to go in prepared. Enter the pre-listing inspection.

What’s a Pre-Listing Inspection?

It’s exactly what it sounds like. It’s a professional home inspection you schedule before your home hits the market. And while it’s not required, the National Association of Realtors (NAR) explains why it could be a valuable step for some sellers right now:

“To keep deals from unraveling . . . it allows a seller the opportunity to address any repairs before the For Sale sign even goes up. It also can help avoid surprises like a costly plumbing problem, a failing roof or an outdated electrical panel that could cause financially stretched buyers to bolt before closing .”

Think of it as a way to avoid future headaches. You’ll know what issues could pop up during the buyer’s inspection – and you’ll have time to fix them or decide what to disclose before you put your house on the market.

This way, when the buyer’s inspector walks in, you’re ready. No surprises. No last-minute panic. No deal on the line.

Is It Worth It?

Generally speaking, a pre-listing inspection costs just a few hundred dollars. So, it’s not a big expense. And the information it gives you is invaluable. But before you make that investment, talk to your local agent.

In some markets, it may not be worth it. And in others, it may be the best move you can make. It all depends on what’s happening where you are and what’s working for other local sellers. If your agent recommends getting one, they’ll also:

Help you decide which issues to fix
Prioritize repairs based on what buyers in your area are focusing on
Connect you with trusted professionals to get the work done
Ensure you understand local disclosure laws

That small step could save your deal (and your timeline).

Bottom Line

So, if there was one simple step that could help make your home sale go according to plan, would you do it?

If you’d rather deal with surprises on your terms (not with the clock ticking under contract), talk to an agent about whether a pre-listing inspection makes sense for your house.

It may be worth it so you can hit the market confident, prepared, and in control.

Source: Keeping Current Matters

Planning To Sell in 2026? Start the Prep Now

Mon, 03 Nov 2025 02:34:22 GMT

You’ve got big plans for 2026. But what you do this year could be the difference between a smooth sale and a stressful one. If you’re thinking of selling next spring (the busiest season in real estate), the smartest move you can make is to start prepping now. As Realtor.com says :

“If you’re aiming to sell in 2026, now is the time to start preparing , especially if you want to maximize the spring market’s higher buyer activity.”

Because the reality is, from small repairs to touch-ups and decluttering, the earlier you start, the easier it’ll be when you’re ready to list . And, the better your house will look when it’s time for it to hit the market.

Why Starting Now Matters

Talk to any good agent and they’ll tell you that you can’t afford to skip repairs in today’s market. There are more homes for sale right now than there have been in years. And since buyers have more to choose from, your house is going to need to look its best to stand out and get the attention it deserves.

Now, that doesn’t mean you have to do a full-on renovation. But it does mean you’ll want to tackle some projects before you sell. Your house will sell if it’s prepped right. And you don’t want to be left scrambling in the spring to get the work done.

Because here’s the advantage you have now. If you start this year, you’ll be able to space those upgrades and fixes out however you want to. More time. Less stress. No sense of being rushed or racing the clock.

Whether it’s fixing that leaky faucet, repainting your front door, or finally replacing your roof, you can do it right if you start now. And you have the time to find great contractors without blowing your budget or paying extra for rushed jobs.

Get an Agent’s Advice Early

To figure out what’s worth doing and what’s not in your market, you need to talk to a local agent early. That way you’re not wasting your time or money on something that won’t help your bottom line. As Realtor.com explains :

“Respondents overwhelmingly agree that both buyers and sellers enjoy a smoother, more successful experience when they start early. In fact, a recent survey reveals that, for sellers, bringing a real estate agent into the process sooner can pay off significantly. ”

A skilled agent can tell you:

What buyers in your local area are looking for
The repairs or updates you need to do before you list
How to prioritize the projects, if you can’t do them all
Skilled local contractors who can help you get the work done

And having that information up front is a game changer.

To give you a rough idea of what may come up in that conversation, here are the most common updates agents are recommending today, according to research from the National Association of Realtors (NAR):

Just remember, what’s worth updating really depends on the homes you’re competing with in your market. Some areas don’t have a ton of inventory, so little updates may be all you need to tackle. In other areas, there are far more homes for sale, so you may need to do a bit more to make your house stand out.

Your agent will walk you through what you need to do for your specific house and market. And that’s expertise that’ll really pay off.

Bottom Line

If 2026 is your year to sell, the work starts now. Taking some time to prep means you’ll hit the market confident, ready, and ahead of other sellers who waited until January to get started.

Want to know which projects are getting the biggest return on their investment in your market? Connect with a local agent so you can head into next spring with a solid game plan.

Source: Keeping Current Matters

How to Move Out After Selling a House

Mon, 13 Oct 2025 17:17:37 GMT

From the first coat of paint you used to freshen up your house’s trim to the stress of wrangling your way to a deal, you’ve been through a lot in that place. Now you’ve made it to the final hurdle of selling a home: moving out!

Don’t worry, this is the easy part… but you want to do it right. Here’s how to get through the last leg of your journey without any bumps along the way.

How to move out on time

Once the paperwork is signed at closing, the buyers will officially own the house—and you won’t. That means that, technically, if you or your stuff is still there after the close, “the buyer could evict you,” says Joshua Jarvis , founder of Jarvis Team Realty in Duluth, GA. So make sure to have your exit strategy in place!

Still, most buyers will understand if you need a bit more time and have a legitimate reason—like if you can’t move until the weekend due to your work schedule. Just be sure to discuss these issues as soon as possible before the close, so your buyers can plan accordingly.

Decide what to leave behind

To make sure you’re leaving behind everything the buyer wanted—and that you agreed to—double-check the closing documents . There should be an itemized list of what comes with the house . And even if the buyers didn’t formally request them, it’s just good form to leave certain types of things behind.

Such as? “Generally speaking, you should leave anything that’s bolted to the wall,” says Jarvis. “Some homeowners want to take their fans and blinds to the next home, but generally if it’s screwed in, it stays.”

Also, if you and the buyers agreed to transfer any services—such as alarm monitoring or pest control —be sure to set that up before you go. Leave the buyers a detailed note in the house, or ask your agent to get in touch with theirs to make sure the transfer goes smoothly.

If you do inadvertently take an item that the buyers had requested, they have the right to ask for it back—and they could potentially sue you in civil court for the cost of a replacement. So, when in doubt, feel free to check with the buyers before you grab and go.

But don’t leave anything else behind

Just as important as what you leave behind is what you don’t. Your buyers have a right to move into a home that’s been cleared of furniture and other movable items they didn’t expressly request.

“Some folks leave all kinds of unwanted clothes, furniture, paint cans, and other items, thinking they are helping the buyers,” Jarvis says. If you truly think your buyers might love to have your old planting pots or kiddie equipment, go ahead and ask—but please don’t assume they’ll welcome your leftovers.

Even if you’re careful, you might forget something—at which point the buyers may contact their agent to get it back to you, but they also have the legal right to just keep or get rid of it. So double-check areas (e.g., the attic, garage, basement, storage shed, kitchen, and bathroom drawers) where people commonly overlook items.

Clean up

It’s common courtesy to leave the place not only clear of your possessions but also clean. However, that doesn’t mean you have to leave it immaculate. “Generally, you shouldn’t have to pay to have it deep cleaned,” Jarvis says.

In most cases, a simple broom-clean will do. That means wiping down the countertops, cleaning out drawers, sweeping or vacuuming all the floors, and giving the bathroom and kitchen appliances a once-over so the new owners aren’t grossed out when they arrive.

Are you forgetting anything?

Before you close the door for the last time, run through a quick checklist. Did you eyeball every room for stray items? Have you forwarded your mail and turned off the utilities? Is the water running in the jacuzzi?

We all get in a bit of a rush even in the best planned moves, but you won’t be able to get back in, so it can’t hurt to do a final run-through before you move out.

Once you’re ready, it’s time to leave. You can drop a line to your real estate agent to let them know you’re out, although it’s usually a courtesy more than a necessity. If you’re feeling truly gracious, feel free to leave a note, card, or bottle of bubbly congratulating the people who’ve inherited your former home. Given all the fond memories you’ve built between those walls, wouldn’t it be nice to start the home’s new owners off on the right foot?

And buy yourself some Champagne, too. Make it the good stuff—you’ve earned it.

Source: Realtor.com

When Are You Considered a First-Time Homebuyer Again?

Mon, 06 Oct 2025 19:01:39 GMT

Buying a home is an exciting time, whether this is your first time purchasing a house or you’re a repeat buyer. But if you’ve owned a home before, you may be wondering if you can be a first-time home buyer again. In some cases, yes, you can.

In this Redfin article, we’ll go over what qualifications you need to meet and when you can be considered a first-time homebuyer again. Whether you’re buying a home in Atlanta, GA , or a condo in Portland, OR , read on to find out if you’re eligible to be a first-time homebuyer twice.

Key takeaways

Usually, you’re a first-time homebuyer again if you haven’t owned a home in 3 years.
Some special situations may also qualify you as a first-time buyer.
Benefits include down payment and closing cost assistance and lower interest rates.

When are you considered a first-time homebuyer again?

Typically, you’re considered a first-time homebuyer again if you have not owned a primary residence for at least three years. There are several additional reasons you may qualify as a first-time homebuyer again, which we’ll explore below. Some first-time homebuyer programs have different definitions of “first-time homebuyer,” so check with the specific program before proceeding.

Qualifications to be considered a first-time homebuyer

There are other reasons you may qualify as a first-time homebuyer twice. Let’s take a look at them:

You haven’t owned a primary residence for 3 years: This means if you owned a home, but sold it and rented for 3 (or more) years, you can be considered a first-time home buyer again. If you’re buying with another person, only one of you needs to meet the criteria to use most first-time home buyer programs.
You’re a single-parent buying on your own: If you’ve never purchased a home by yourself and are a divorced single-parent, you may qualify again. Even if you purchased a home with your former spouse, you likely still meet the criteria.
You’re a displaced homemaker/family caregiver: If you are a displaced homemaker who doesn’t or didn’t earn wages from employment and has only owned a home with a former spouse, you’re likely considered a first-time homebuyer.
You previously owned a mobile home: If you owned a mobile home or property not affixed to a foundation, then you likely qualify.
Your previous home was out of compliance: If your home had building code violations or safety issues that could not be repaired or brought into compliance for less than the home’s value, you’re likely eligible.

Benefits of being a first-time homebuyer again

There are benefits to being a first-time homebuyer twice. Let’s take a look at them:

Access to first-time homebuyer programs: One of the biggest benefits is the ability to use first-time homebuyer programs such as down payment and closing cost assistance , grants, credits, or loans. Every program has different qualifications, so make sure to research each program or speak with your agent and lender to explore options.
Options for low down payment mortgages: There are several loans available for first-time buyers that offer lower down payment amounts. For example, Freddie Mac’s Home Possible and Fannie Mae’s Home Ready offer down payment amounts as low as 3%.
Potentially lower mortgage rates: Sometimes, lenders will offer slightly lower mortgage rates to first-time borrowers to help them buy their first home.

FAQs about first-time homebuyers

Can I be a first-time homebuyer again if I previously owned a home?

Yes, as long as you haven’t owned a primary residence in the last 3 years, or you owned a home while previously married.

Do both homebuyers need to be first-time homebuyers to qualify?

No, in most cases, as long as one homebuyer meets the qualifying criteria, then you’re considered a first-time homebuyer. However, some programs require both homebuyers to be first-timers.

Can I qualify for a first-time homebuyer loan again?

Yes, for the most part, if you qualify as a “first-time homebuyer,” you can get another first-time homebuyer loan. Every lender and loan is different, so be sure to read the eligibility criteria thoroughly.

Are there income limits for programs?

Yes, many first-time homebuyer programs have income limits. This means you won’t qualify if you make more than the specified annual amount.

Source: Redfin

10 Home Renovation Projects Under $1,000 That Add Lasting Value

Mon, 29 Sep 2025 20:47:09 GMT

Enhancing your living space doesn’t always require a hefty budget. With the right updates, you can add real value to your home for under $1,000. Whether you’re preparing to sell your home in Grand Rapids, MI , or looking for some easy DIY projects for your house in Portland, OR , these cost-effective upgrades can breathe new life into your space.

To dig deeper into this topic, we spoke with Kevin Brasler, executive editor at nonprofit Consumers’ Checkbook , a consumer advocacy group that helps homeowners save money and make smart choices. With decades of experience evaluating service providers, Kevin shares insights on how to budget wisely, avoid common renovation mistakes, and know when to hire a professional versus taking the DIY route.

1. Add fresh paint to the walls of your home

Painting is one of the most affordable ways to refresh your home. A gallon of quality paint costs $30 to $50, with a full room averaging around $350 .

Neutral shades like gray, beige, or white appeal to most buyers, while accent colors such as navy, forest green, or mustard add personality. For a calming vibe, try sage or powder blue.

Brasler notes that painting is one of the best DIY-friendly projects homeowners can take on. “Good DIY projects are those that involve mostly labor: painting, basic tile work, installing fixtures that don’t require new wiring or plumbing, landscaping, and most flooring jobs,” he says.

2. Update your cabinet hardware

A cabinet hardware update is a subtle yet effective strategy to elevate your home’s functionality and aesthetic appeal. Swapping outdated or generic cabinet handles and knobs for modern, stylish alternatives instantly transforms kitchens and bathrooms.

Consider sleek brushed nickel handles for a contemporary touch, or opt for vintage-inspired brass knobs for a timeless charm. This modest investment typically costs between $2 to $10 per piece.

3. Change the kitchen backsplash

A new backsplash can quickly refresh your kitchen while protecting your walls. A custom kitchen backsplash protects your walls from daily wear and creates a focal point that elevates the entire room.

Opt for affordable ceramic or glass tiles, which can be found for as low as $1 to $5 per square foot. Staying within a $1,000 budget for a standard-sized kitchen is doable with those materials. Or you can go for a peel-and-stick backsplash that is not only budget-friendly, but a quick solution to make your kitchen stand out.

Brasler stresses that getting multiple estimates is critical for even small-scale projects like this. “The biggest mistake homeowners make is not getting multiple bids. Even for smaller projects, you should get at least three written estimates; five is better,” he explains.

4. Switch to energy-efficient lighting

By making the switch to energy-efficient lighting, you’ll not only improve the sustainability of your home but also create a more comfortable and inviting living environment. Switching to LED bulbs, which typically cost between $2 to $10 each, saves energy and reduces utility bills over time.

Beyond the financial benefits, the crisp and vibrant illumination of energy-efficient lighting can effortlessly enhance your home’s overall mood and appeal.

5. Create a beautiful landscape

A simple landscaping update is another low-cost project that adds value. Try planting vibrant flowers, shrubs, and trees, which can cost anywhere from $100 to $500, depending on the size and variety. Add mulch or decorative stones to create a polished look for approximately $50 to $150, while adding affordable outdoor lighting options typically range from $50 to $200.

Low-maintenance features lower costs down while still making a strong impression. For most landscaping updates, DIY is both practical and cost-effective. Still, Brasler advises calling in professionals for anything involving gas, high-voltage electrical, or structural work.

6. Install a smart thermostat

A smart thermostat, such as popular models like Nest or Ecobee, typically costs between $150 to $300, depending on the brand and features. Homeowners can often handle the installation themselves, avoiding additional labor costs.

Once installed, these intelligent devices learn your preferences, allowing for automated temperature adjustments, and can be controlled remotely via smartphone apps.

7. Refurbish or paint the front door

Refresh your curb appeal by refurbishing or painting the front door – a low-cost project with instant impact. Sanding and restaining often costs under $100 and requires just a few materials.

Another choice is to use high-quality exterior paint, which typically ranges from $30 to $50 per gallon, providing a fresh, vibrant color that suits your home’s style.

8. Add floating shelves or built-ins

Consider adding floating shelves or built-in storage solutions to maximize space and keep your home organized. Floating shelves, available for as little as $20 to $50 per shelf, provide an affordable and stylish way to showcase decor or organize essentials.

For a more customized approach, DIY built-ins can be crafted using plywood or ready-to-assemble shelving units, typically ranging from $100 to $300.

9. Upgrade your kitchen sink and faucet

Breathe new life into your kitchen with a sink and faucet upgrade. Faucets usually run $100 to $300, and sinks $200 to $500.

Consider a sleek pull-down faucet and a resilient stainless steel or granite composite sink to improve both function and style. Spending $300 to $800 on a sink and faucet upgrade can instantly refresh your kitchen’s look and make daily tasks easier.

10. Add safety measures to protect your home

Smart security cameras or a basic surveillance system now offer affordable and effective protection. Investing in a home surveillance system, typically from $200 to $500, allows real-time monitoring and deterrence against potential threats.

The addition of smart cameras, with features like motion detection and remote access via smartphone apps, can improve your home’s overall safety and convenience. With a budget-conscious investment of $500 to $1,000, you can create a comprehensive security network covering critical areas of your property.

Tips for finding good contractors

Even for smaller projects, working with contractors requires careful planning. Brasler emphasizes the value of comparison shopping. “Get proposals and detailed pricing from at least three reputable, licensed contractors,” he advises. “The only way to ensure you’re paying a fair price is to initiate competition.”

He also suggests:

Check references thoroughly. Ask questions like:
Did the company follow plans?
Did it finish on time? Was the work professional?
Did the contractor offer low-cost solutions and stick to agreed prices?
Were problems handled promptly and effectively?
Did the team communicate clearly throughout the project?
Was disruption to your daily life kept to a minimum?
Did the finished results meet your expectations for quality and appearance?
Was the contractor flexible and fair about changes if you adjusted plans?
Ask neighbors and friends for referrals. Word-of-mouth often uncovers the best local contractors.
Look for complaints. Check ratings at Checkbook.org or your local Better Business Bureau and be cautious with online reviews as they can’t always be trusted.

Common mistakes when budgeting for small renovations

Brasler states the biggest budgeting mistake is skipping multiple bids. “A contractor charging $800 might be using premium materials while the $500 bid uses builder-grade stuff. Try to get prices from each business for the exact same work,” he explains.

He also reminds homeowners not to assume that a low price means low quality. “For decades we have evaluated all kinds of businesses and often find some of the best companies have the lowest prices,” he says.

When to DIY vs. hire a pro

While DIY saves money, Brasler stresses knowing your limits. “Call in pros to deal with anything involving gas, high-voltage electrical, or structural changes. Ditto for work that requires a permit and inspection,” he advises.

For tasks like painting, basic landscaping, or adding shelves, homeowners can usually manage on their own. Keep expectations realistic since DIY projects often take longer and may not match professional results.

The bottom line

Budget-friendly renovations under $1,000 can make a big difference in your home’s look, comfort, and value. From painting and landscaping to updating fixtures and adding smart technology, these projects prove you don’t need to overspend to refresh your space.

As Brasler reminds homeowners, “the key is balancing creativity with caution.” By comparing bids, avoiding common budgeting mistakes, and knowing when to call in the pros, you can achieve lasting results without stretching your wallet.

Source: Redfin

What It Takes to Sell Homes: Lennar Cuts Average Selling Price Below its 2019 Level, and its Home Sales Held Up

Mon, 22 Sep 2025 17:12:13 GMT

But the hot air was let out of pandemic-era gross margins, operating earnings, and net income. Sellers of existing homes should pay attention.

Homebuilder Lennar reported earnings yesterday evening, and along with its conference call today, aired out a litany of lamentations about the housing market: Revenues from homebuilding fell 8.8% year-over-year in Q3, incentives needed to make those deals jumped to 14.3% per home sold, which slashed its gross margin to 17.5% in Q3, from 22.5% a year ago. Operating earnings from homebuilding plunged by 49%, net income plunged by 50%, and earnings per share plunged by 46%.

Gross margins dropped “primarily due to a lower revenue per square foot [lower prices per square foot] and higher land costs,” that were only “partially offset by a decrease in construction costs,” the company said in its filing today.

The entire Pandemic Free-Money price spike got cut : Lennar’s average selling price in Q3 dropped by 9% year-over-year to $383,000, below where it had been in 2019, and by 22% from the price peak in Q3 2022, when FOMO-addled buyers were willing to pay whatever because money was free.

Lennar targets the mass market. It doesn’t target the high end. People who want to spend substantial amounts on a custom-built home will likely choose a different builder. Lennar’s homes are mass-market products, they expand the supply of homes that people can more easily afford, and more supply and lower prices are exactly what this price-ravaged market needs.

From Q3 2019 through the peak in Q3 2022, Lennar jacked up the average price by 25%. Lennar has now given up the entire price spike plus some, and the average price is below where it had been in 2019.

As a result of the much lower average selling prices, sales held up: The company delivered 21,584 homes, which was up a hair from a year ago, and new orders jumped by 12% to 23,000 homes.

That message is lost on sellers of existing single-family homes whose sales plunged by about 25% from 2019 and by over 30% from 2021, because prices are too high, and sellers are loathe to budge. And homebuilders are now eating their lunch.

Hot air comes out of inflated gross margins. Lennar’s lower prices did the trick, kept volume up, and boosted its new orders – but they crushed the inflated gross margins from yesteryear:

Q3 2025: 17.5%
Q3 2024: 22.5%
Q3 2022: 29.2%

That Q3 2022 gross margin of 29.2% was when money was still free, and when money is free, prices don’t matter, and homebuilders went on ahead and cleaned out these FOMO-addled homebuyers, generating huge profits for themselves and massive mortgages for the homebuyers, and a good time was had by all.

But the free money ended, and so there’s this litany of lamentations about “the continued pressures of today’s housing market,” and about the “incentives and price adjustments to match market conditions,” as Lennar said.

Lennar, like all homebuilders, figures the cost of incentives and mortgage-rate buydowns into the average price per home sold. So all of the costs of those incentives are included.

Incentives are not included by the Census Bureau , when it reports on new home sales, and bases its median price on contract prices of deals, and they don’t include the costs of mortgage rate buydowns and many other incentives, and without those costs, the contract prices have dropped far less than actual new home prices and understate the actual price drops.

As per the Census Bureau, the median contract price across the US by all homebuilders dropped by 5.9% year-over-year in July (blue in the chart below), and the three-month average (red) dropped by 1.8% year-over-year and by 5.9% from the peak in late 2022.

Lennar also cut its delivery expectations for Q4 “in order to relieve the pressure on sales and deliveries and help establish a floor on margin,” co-CEO Stuart Miller said during the conference call today (transcript via Seeking Alpha ).

“Sales volume was difficult to maintain and required additional incentives in order to achieve our expected pace and to avoid building excess inventory,” he said. Sellers of existing homes should pay attention.

Source: Wolf Street

Maximizing Storage in a Two-Bedroom Apartment

Mon, 15 Sep 2025 20:59:39 GMT

Moving into a two-bedroom apartment often feels like a big upgrade. There’s an extra room, maybe more closet space, maybe even a balcony. But before long, that extra square footage starts to disappear. Boxes stack up, closets overflow, and the second bedroom turns into a catch-all. The truth is, space isn’t just about how much you have. It’s about how well you use it.

Why Extra Rooms Fill Up So Quickly

Two bedrooms can create a false sense of abundance. One room is for sleeping, the other is supposed to be flexible: an office, a guest room, or storage. But once daily life settles in, that second space often becomes a little of everything and a lot of nothing. A bed covered in laundry, a desk buried under papers, a closet that won’t close. Sound familiar?

The challenge isn’t only fitting more in. It’s making sure the things you own feel organized and intentional.

Furniture That Works Beyond Its Job

One of the most effective ways to save space is to look at furniture differently. A coffee table with a hidden compartment. A bed frame with drawers underneath. A bench at the entryway that opens to store shoes. These aren’t just stylish pieces; they’re practical solutions. Retailers from IKEA to West Elm offer versions that balance design with function.

When you think about it, every piece of furniture is either working for you or taking up space. Choosing the right pieces can make the difference between clutter and comfort.

Some apartments are already designed to make storage easier. For example, look at these two bedroom apartments in Denver Colorado from Station A. The layouts include open kitchens and spacious bedrooms that give you a little extra breathing room before you even add furniture.

Use the Walls, Not Just the Floor

Floors fill up fast, but walls often sit empty. Floating shelves, wall-mounted racks, and hooks behind doors all free up ground-level space. Even the space above a doorway can hold a slim shelf for books or baskets.

Tall furniture also helps. A floor-to-ceiling bookcase, for example, not only adds storage but also draws the eye upward, giving the room a sense of height and airiness.

Making Closets Work Harder

Closets look spacious when empty, but once coats, shoes, and bags pile in, they quickly feel cramped. The key is layering. Hanging organizers, stackable bins, and slim shoe racks create levels where there was only one. Vacuum-sealed bags for out-of-season clothing can cut bulky items down to a fraction of their size.

Opening a closet and finding everything in its place may sound small, but it changes how you feel about the whole apartment.

Hidden Spots You Might Miss

Every apartment has underused corners. The space under a sofa, the gap above the kitchen cabinets, the wall space beside a fridge, or even the narrow strip between the washer and dryer. With the right bins, baskets, or rolling carts, these forgotten areas can become useful without making your home look crowded.

A Quick Word on Digital Storage

Storage isn’t always physical. Old laptops, stacks of paper, and tangled cords take up room just like bulky furniture does. Moving documents online, consolidating devices, and recycling outdated electronics can free up real space while cutting visual clutter.

Rotate with the Seasons

One of the simplest tricks is seasonal rotation. Think of your apartment like a store changing its displays. Keep only what you need right now in easy reach. In summer, pack away heavy blankets and coats. In winter, box up patio cushions and fans. This way, storage works on a cycle instead of becoming permanent clutter.

Keeping Only What You Use

It may seem contradictory to talk about maximizing storage and also suggest owning less, but the two go hand in hand. The fewer unnecessary items you keep, the more room you have for what matters. A helpful guideline is the “one-year rule.” If you haven’t used it in a year, it probably doesn’t need to take up space in your apartment.

Letting go of items can be surprisingly freeing. That rarely used kitchen gadget, the stack of magazines you meant to read, or the exercise gear gathering dust—they’re not making your apartment feel larger. They’re weighing it down.

Final Thoughts

Maximizing storage in a two-bedroom apartment isn’t about cramming more into closets or stacking boxes in corners. It’s about making choices that let your home feel organized and functional. Furniture that doubles as storage, walls that carry some of the load, closets with actual systems, and a thoughtful rotation of seasonal items can make a noticeable difference.

In the end, a well-organized space feels bigger, calmer, and easier to live in. And that might be the best use of your two bedrooms.

Source: Realty Times

What Everyone’s Getting Wrong About the Rise in New Home Inventory

Tue, 02 Sep 2025 21:25:56 GMT

You may have seen talk online that new home inventory is at its highest level since the crash. And if you lived through the crash back in 2008, seeing new construction is up again may feel a little scary.

But here’s what you need to remember: a lot of what you see online is designed to get clicks. So, you may not be getting the full story. A closer look at the data and a little expert insight can change your perspective completely.

Why This Isn’t Like 2008

While it’s true the number of new homes on the market hit its highest level since the crash, that’s not a reason to worry. That’s because new builds are just one piece of the puzzle. They don’t tell the full story of what’s happening today.

To get the real picture of how much inventory we have and how it compares to the surplus we saw back then, you’ve got to look at both new homes and existing homes (homes that were lived in by a previous owner).

When you combine those two numbers , it’s clear overall supply looks very different today than it did around the crash ( see graph below ):

So, saying we’re near 2008 levels for new construction isn’t the same as the inventory surplus we did the last time.

Builders Have Actually Underbuilt for Over a Decade

And here’s some other important perspective you’re not going to get from those headlines. After the 2008 crash, builders slammed on the brakes. For 15 years, they didn’t build enough homes to keep up with demand. That long stretch of underbuilding created a major housing shortage, which we’re still dealing with today.

The graph below uses Census data to show the overbuilding leading up to the crash ( in red ), and the period of underbuilding that followed ( in orange ):

Basically, we had more than 15 straight years of underbuilding – and we’re only recently starting to slowly climb out of that hole. But there’s still a long way to go (even with the growth we’ve seen lately). Experts at Realtor.com say it would take roughly 7.5 years to build enough homes to close the gap.

Of course, like anything else in real estate, the level of supply and demand is going to vary by market. Some markets may have more homes for sale, some less. But nationally, this isn’t like the last time.

Bottom Line

Just because there are more new homes for sale right now, it doesn’t mean we’re headed for a crash. The data shows today’s overall inventory situation is different.

If you have questions or want to talk about what builders are doing in your area, connect with a local agent.

Source: Keeping Current Matters

Homebuilders Are Relying More on Buyer Incentives To Battle Sluggish Market

Mon, 25 Aug 2025 18:35:43 GMT

omebuilder sentiment remained weak in August, with the use of incentives hitting a post-COVID high as builders struggled to lure reluctant buyers off the sidelines.

In August, 66% of builders reported using sales incentives such as discounts or mortgage rate buydowns , up from 62% in July and the highest percentage in at least five years, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released Monday.

The survey showed that 37% of builders reported cutting prices in August—little changed from 38% in July. The average price reduction was 5% this month, where it has held steady since November.

Overall builder confidence in the market for newly built single-family homes was 32 in August, down one point from July. Anything below 50 reflects negative homebuilder sentiment about the market.

“Affordability continues to be the top challenge for the housing market and buyers are waiting for mortgage rates to drop to move forward,” said NAHB Chairman Buddy Hughes . “Builders are also grappling with supply-side headwinds, including ongoing frustrations with regulatory policies connected to developing land and building homes.”

For homebuyers, the new survey data suggests there are deals to be found in the market for new homes, with builders increasingly willing to negotiate on price or offer incentives such as rate buydowns and closing cost assistance.

A recent analysis from the Realtor.com® economic research team found that the price premium for new-construction homes over existing homes fell to an all-time low of 7.8% in the second quarter of 2025.

The median listing price for a newly built home held mostly steady at $450,797 in the quarter, while the median existing-home price jumped 2.4% to $418,300, according to the New Construction Quarterly Report .

Still, affordability conditions for both new and existing homes remain at multidecade lows due to the combination of elevated mortgage rates and record-high home prices .

Mortgage rates did drop in the first half of August as economic data made a Federal Reserve rate cut in September appear more likely. Rates hit a 10-month low of 6.58% last week, according to Freddie Mac .

However, wholesale inflation data released late last week showed rapid increases in wholesale prices that are likely to filter down to consumers soon, complicating the playbook for a Fed cut next month.

NAHB Chief Economist Robert Dietz argues that as it weights rate cuts, the Fed should factor in the housing market, which has struggled with weak sales for years as many buyers remain priced out.

“Housing affordability is central to the outlook for economic growth and inflation,” he says. “Given a slowing housing market and other recent economic data, the Fed’s monetary policy committee should return to lowering the federal funds rate, which will reduce financing costs for housing construction and indirectly help mortgage interest rates.”

When asked about current sales conditions, homebuilder sentiment fell one point in August to a level of 35, while the component measuring sales expectations in the next six months held steady at 43.

The gauge charting traffic of prospective buyers rose two points to 22, but remains at a very low level.

Regionally, on a three-month rolling average, HMI for the Northeast fell one point to 44, the Midwest gained one point to 42, the South dropped one point to 29, and the West declined one point to 24.

Source: Realtor.com

18 Reasons To Hire A Cleaning Service: Your Home Will Thank You

Mon, 18 Aug 2025 17:51:18 GMT

Sooner or later, dust, dirt, crumbs, dander, hair, and other nameless debris build up on the surfaces of your furniture and begin to linger in the air of your home, requiring a deep and thorough clean. While many home cleaning projects can be addressed using standard supplies and a little elbow grease, others can be a more substantial undertaking that requires the need to hire a cleaning service.

Bigger projects, like roof and exterior window cleaning, can require equipment, time, and safety precautions better left to professional cleaners. Likewise, delicate or valued items such as antique rugs or draperies, which may seem like easy cleaning tasks to undertake, can easily result in damage or fading if cleaned improperly. Whether you’re looking to get a jump-start on some spring cleaning for your apartment in Los Angeles, CA, increase the home value for your home in Atlanta, GA, or tackle some general home maintenance projects around your rental house in Portland, OR, here are 18 reasons why you should hire a cleaning service for just a little extra help.

1) Black or green areas are overpowering your roof’s appearance

Have you noticed dark stains or green areas appearing on your roof? These substances are more than likely caused by algae, fungus, lichen, or moss, which can lead to shingle deterioration and wood rot if left unattended. Roofing generally doesn’t need regular cleaning, but when mold, algae, or soot residue starts to build up, it’s best to call in a professional. Proper cleaning extends the lifespan of your roofing materials or shingles and can even improve your home’s curb appeal .

However, spending time on a roof can be very dangerous without the right safety equipment. According to the National Roofing Contractors Association, the chemicals used to clean these substances off your roof can be caustic, meaning they can cause burns. Most roof cleaners contain sodium hypochlorite and occasionally zinc sulfate, so this is a job best left to the pros. Roofs should be cleaned as needed, generally once every few years. However, homes in areas with a harsher climate may need more regular attention.

2) Rainwater is overflowing from your gutters

Gutters are often forgotten in our maintenance routines, but they play a crucial role in preventing water damage in a home, and neglecting them could have serious – and costly – effects in the long run. Efficient gutters will collect and divert rainwater or melted snow, preventing it from damaging walls and the foundation. However, leaves, sticks, dirt, and even birds nests can quickly clog gutters, compromising their functionality. One of the reasons to hire a cleaning service is that a professional cleaner has the necessary equipment to prevent the outlet from getting clogged by clearing leaves, soil, or organic debris that frequently collects in gutters.

Standing and climbing up and down a ladder while rooting around in the gutters can also be a dangerous task for a homeowner, especially on larger homes with substantial gutter systems. Professional cleaners have the industrial-strength equipment needed to effectively clear out clogs and inspect your gutters to ensure no repairs are required. Gutters should be cleaned at least twice a year and potentially more frequently for homes under large trees or in seasons with heavy rainfall and high winds.

3) There’s a lack of natural light coming through your windows

Windows are easy enough to clean on the inside, but outside can be another story. This is especially true for exterior windows in larger homes with multiple stories or condos that are part of a larger building. It might seem like a relatively simple job to clean your home’s exterior windows on your own, but it comes with its own set of challenges. Using too much detergent or not rinsing that detergent off properly after washing can cause more dust and grime to stick to windows over time, making the glass dirtier than before.

Moreover, if you live in an area with frequent rainfall like Seattle, WA , or New Orleans, LA , getting your windows professionally cleaned before a rainstorm prevents dirt and dust residue from scratching up and sticking to the glass. In these cases, hiring a professional is the best way to guarantee clean windows. Regular cleaning of your home’s exterior windows will not only keep them looking their best it also protects the window glass from long-term damage. Exterior windows should be cleaned annually at a minimum, but ideally, twice a year in parts of the country with high pollen counts.

4) A whistling sound is coming from your furnace

A furnace system is ultimately best left to the professionals, from installation to cleaning. Dust and dirt can accumulate on any surface over time, and furnaces are no exception. A definite reason to hire a cleaning service is that the average homeowner might miss places where grime and dirt can build up and may not have the proper tools to give furnace systems the thorough cleaning they need. High pitched whistling or scraping noises are signs that dust, dirt, hair, or, if you have pets, dander could be clogging your furnace, indicating that it’s due for a filter change or cleaning.

A dusty furnace can also cause breakdowns in your heating system by restricting airflow and lead to higher energy bills even when you’re not using your furnace more than usual. Furnace cleaning, which includes cleaning the combustion chamber and replacing the oil filter, should be performed at least once a year and is best handled by a pro. Getting a professional to clean and maintain your furnace annually will not only save you money on expensive repairs in the long run but also remove the dust and debris that will inevitably build up throughout the year.

5) You start to notice the high traffic areas in your carpets

Carpets are a major component in your home and are subjected to heavy use daily, so we naturally want them to look as pristine as possible. While vacuuming is a good intermediary to remove loose particles on the carpet’s surface, it may not be enough to keep carpets truly clean. Soil that is inevitably tracked in and left in the carpet for too long can work its way into the fibers, making their removal highly difficult. And, over time, carpets and area rugs can become perfect traps for bacteria, allergens, pollens, and other pollutants that are naturally in the air. A professional carpet cleaner extracts the hidden particles from your carpet, from caked-in stains to debris, and goes above and beyond what even at-home carpet cleaners can do. Plus, regular carpet cleaning can increase home value and prolongs your carpet’s performance and is key to maintaining a tidy home.

High traffic areas may need cleaning as often as twice a year, while lesser-used areas of a home may need cleaning once a year or whenever stains or spots are visible.

6) Your antique or expensive rugs are beginning to show some wear

Antique or luxe rugs, such as Persian or oriental rugs, aren’t a good fit for a DIY carpet cleaner. In most cases, these rugs are delicate and easily destroyed, making their care a reason to hire a cleaning service. Plus, improper drying could result in a moldy rug. Pros know how to best clean fibers without causing damage, altering color, or leaving stains. Plus, you’ll be extending the lifespan of your rugs by ensuring it’s getting the necessary care by a professional rug cleaner.

Since antique rugs don’t need regular cleaning – every year or two is fine – you can maintain your rugs with regular vacuuming unless spills or other messes occur.

7) Your drapery appears discolored

Decorating with drapery is a great way to quickly add visual interest to your space and block out sunlight. However, over time, drapes naturally start to collect dust, odors, and allergens and may pose a health issue for people with allergies. Simple curtains, like those made of cotton or polyester, can go in the washer, but others made of sensitive fabric, such as silk or linen, might require more significant attention. At a minimum, dry cleaning may be necessary to clean without causing damage. Another reason to hire a cleaning service is that if the proper treatment method isn’t listed clearly, a professional cleaner can provide guidance on the appropriate cleaning required to remove dust, dirt, mold, or mildew.

Lighter drapes more prone to dirt should be cleaned every six months, while heavier window treatments need care at least once a year to remove dust or dirt. In between professional cleaning, you can keep your drapery clean by regularly dusting them.

8) You want to extend the life of your home

Routine deep cleaning can go a long way to protecting your home investment. “Hiring a professional cleaning company reduces wear and tear on home surfaces,” says Eric Phan of Bellevue Clean , a cleaning company in Bellevue, WA. “Proper maintenance by professionals can extend the lifespan of materials like hardwood floors, tiles, countertops, and bathroom fixtures by using the right cleaning methods and products. This, in turn, also maintains the value of your home!”

Francis, owner of 321Maids.com , a cleaning service in Melbourne, FL, seconds this use of a professional cleaning service. “A professional cleaning service doesn’t just improve cleanliness — it helps protect your investment,” says Francis. “Regular deep cleans can extend the life of your furnishings, flooring, and fixtures, keeping your home in top condition and preventing costly repairs down the line.”

9) You’re moving and don’t want to deal with one more thing

For those leaving their home for the next chapter in their lives, doing a deep clean is the last you want to do after packing the car. “ After moving out, a deep cleaning service helps restore the space to pristine condition, perfect for meeting landlord expectations or preparing for the next occupant,” shares Memo Ceballos, owner of Magic House Clean , a cleaning service in the Bay Area. “Professionals handle every detail, from baseboards to appliances so that you can focus on your next chapter stress-free.”

10) You’ve got your hands full with the kids

When the kids are a handful, it gives you a great reason to hire a cleaning service. “For families with young kids, the mess can feel never-ending, and many parents tell us they’ve felt like they’re constantly falling behind,” says Theo from Bothell Cleaning , a cleaning service in Bothell, WA.

Theo adds, “Toys scattered across the floor, sticky countertops, and laundry piling up can quickly turn into a source of daily stress. But once a regular cleaning schedule is in place, the entire dynamic shifts. The home feels calmer, routines run smoother, and parents feel more in control. It’s not just about cleanliness, it’s about creating a more peaceful environment for everyone.”

11) You’re preparing to stage your home for sale

A clean home will help attract prospective buyers. “Hiring a cleaning service ensures your property is always show-ready, helping to attract buyers and tenants faster. Let us handle the details so you can focus on closing deals,” says Trisha Coffin of Sparkle and Shine , a cleaning service in Lincoln, NE.

12) Allergens are making you sneeze and sneeze

If the dust mites are starting to get to you, but you don’t have time to do it yourself, that’s a good reason to hire a cleaning service. “Work, family, and life’s many demands can crowd out the time — and energy — needed to give your home the deep, healthy clean it deserves,” says Felix DuBose, owner of Pine & Soda , a commercial cleaning company in Seattle, WA.

Felix adds, “A professional cleaning service removes hidden allergens and grime with commercial‑grade tools and eco‑friendly products, protecting both your investment and your well‑being while freeing up precious hours for what matters most.”

13) Something smells funky and you don’t know what it is or where it’s coming from

Mystery smells are always no fun. If you’re tired of getting on your hands and knees, call a professional. “Hiring a cleaning company means saying farewell to those mystery smells you’ve been ignoring for way too long,” says Jennifer, owner and managing partner at Exceptional Home Clean .

She adds, “Professional cleaners use top-quality products and techniques to eliminate odors at the source — not just mask them — giving your space a fresh, truly clean feel. Instead of spending hours scrubbing and guessing which product works best, let the experts handle it so you can breathe easy.”

14) Routine cleaning isn’t hacking it anymore

Even the cleanest rooms need a deep cleaning every once in a while. “When grime creeps into grout lines, baseboards, and ceiling fan blades, quick wipe-downs no longer cut it and busy schedules push deep cleaning to the bottom of the to-do list,” shares Grayson Hogard of Futura Cleaning , a cleaning service for folks in Washington, Oregon, California, and Colorado. “A professional cleaning team arrives with the right equipment and a detailed checklist that reaches every corner, erasing stains, dust, and hidden allergens while protecting delicate finishes. The result is a healthier, brighter home, and evenings you can spend relaxing rather than scrubbing.”

15) You’re facing a cleaning problem that only professionals can tackle

For anything potentially dangerous, it’s always a good call to bring in a professional. “When facing situations that go beyond everyday cleaning — like biohazards, rodent droppings, hoarding, or trauma scenes — Bio-One of Oceanside offers the expertise and care needed to restore your space safely,” says Doug, General Manager of Bio-One , a cleaning company in Oceanside, CA.

16) Stress is taking over

A dirty space can cause additional stress, and if you’re already nearing your limit, call in a professional. “Life gets hectic and between work, friends, family, and everything else on your plate, that professional clean you know you should get is always moved down on the to-do list,” says Mopstar Cleaners , a home cleaning service in Phoenix, AZ. “A top-to-bottom, deep clean by Mopstar Cleaners doesn’t just transform how your home feels but also how you feel in it, all without the stress and exhaustion of doing it yourself.”

For Dana Chequis of Ace of Maids Cleaning , a cleaning service in Salmon Arm, BC, coming home to a clean house is a gift. “Stress-free cleaning and coming home to a clean and fresh-smelling home is worth every penny. So much easier to have someone else do the work while I’m at work,” says Dana.

To sum it up, hiring a cleaning service is like hitting an easy button for your life. “Your baseboards sparkle, your fridge no longer looks like a science experiment, and your weekends are yours again,” says Blake Hickman of SA Cleaning Service , a cleaning service in San Antonio, TX. “In today’s busy world, trading hours of scrubbing for a professionally cleaned home is not just convenient, it’s a smart investment in your most valuable resource: time.”

17) You need some time back

If you’re running out of hours in the day, hiring a cleaning service can get you back the time you need. “Hiring a cleaning service isn’t just about having a tidy home — it’s about gaining back time, mental clarity, and a sense of control,” says Peter of Seattle Cleaning . “When life gets busy or your space starts to feel more chaotic than cozy, bringing in pros can make all the difference.”

In today’s busy world, it’s hard to find the time to focus on cleaning. “Nowadays, most families require 2 parents to work to make ends meet. If they have children, their schedules are even more demanding, with school, activities, homework, and sporting events,” says Regine Farr of Cleanest By Farr , a cleaning service in Lincoln, Nebraska. “The last thing most families have on their priority list is to take the time to thoroughly clean and disinfect their homes. Even when selling their homes, people just do not have the time to get it cleaned up enough to get it on the market. In my years of cleaning, I cannot count how many times I have been told, ‘I don’t know what I would do without you and your cleaning service’”

Brooke Lutes of Affordable Cleaning Services , a cleaning service for Northern Virginia, agrees that life can get in the way. “Life gets busy, and before you know it, the dust settles, the windows lose their shine, and the bathrooms get dirty. At Affordable Cleaning Services, we make it easy for you to reset—with a consistent team you choose, customized care, and that fresh, polished feeling your home deserves,” says Brooke.

18) You need some time with family

For those with the funds, hiring a cleaning service can give you some much-needed time with your family. “Life gets busy, and cleaning often takes away precious moments you could spend relaxing, enjoying your family, or pursuing personal interests,” says April Prothero, founder of Going GreenHouse , a home cleaning service in Phoenix, Tempe, Mesa, and Scottsdale, AZ. “Professional house cleaners have specialized tools and experience to tackle dirt and grime efficiently. Hiring experts means your home looks good and feels cleaner without the stress and hassle of doing it yourself.”

The team at Select Home Cleaning , a home cleaning service in Florida seconds this use of a cleaning service. “In today’s fast-paced world, maintaining a clean and healthy living space can easily fall by the wayside,” says Select Home Cleaning. “Hiring a cleaning service not only restores your home’s sparkle but also provides you with invaluable time to focus on what truly matters, whether it’s family, career, or personal well-being. A professional cleaning service ensures a consistently clean environment, contributing to a healthier and more enjoyable home.”

In conclusion, sometimes you need a little help

From hard-to-reach roof grime and overflowing gutters to delicate rugs and persistent allergens, keeping a home clean isn’t always a simple task, and it often requires more than just a quick vacuum or dusting. “Hiring a professional cleaning service makes keeping a spotless home effortless and stress-free,” says Wendy Montenegro and the team at Clean Splendid LLC , a cleaning service in Snohomish and King County, “Whether you want to renovate your space, tackle tough stains or prepare for a big move, cleaning experts offer customized solutions to suit your needs. It’s the perfect way to enjoy a clean and inviting home while saving time and energy.”

Whether you’re staging your home for sale, juggling a busy family life, or simply craving a fresh start, bringing in the experts can be the smartest investment you make for your space — and your peace of mind. After all, your home works hard for you — it’s time to return the favor.

Source: Redfin

The Advice First-Time Homebuyers Need To Hear

Mon, 14 Jul 2025 17:08:31 GMT

Buying your first home is a big milestone – and the right support is going to make it a whole lot easier.

Because while this process might be brand new to you, it’s not new to your agent. They’ve helped plenty of first-time buyers through it. They know what works, what actually matters, and how you can move through the process with a lot less guesswork.

Here are a few real-world tips based on that experience of helping other first-time buyers.

Tip #1: Get Pre-Approved First

Rocket Mortgage says this is one of the most common mistakes first-time buyers make. And it’s easy to see why. Looking at homes online is fun. But doing it before you know your numbers? That’s risky. You don’t want to fall in love with a house that’s way outside of your financial comfort zone. That’s a fast track for getting frustrated.

Instead, find your agent and talk to a lender early – before looking at any houses . With your lender’s help, you’ll be able to get pre-approved for your home loan. That’ll give you a better idea of what you’ll be able to borrow. And it helps you set a realistic budget. Then, your agent will be able to make you a customized list of homes, so you’re only seeing what’ll work for what you can spend. More clarity, less frustration.

Tip #2: Set a Budget and Stick To It

Remember, just because you can borrow up to a certain amount, chances are you won’t want to max that number out. It’s really important to avoid overextending your budget, especially in today’s market. Other housing expenses like home insurance , homeowners association ( HOA ) fees, and taxes are on the rise, and you need to factor those in. Bankrate offers this advice:

“When you’re building a budget to narrow your search for properties, don’t just think about how much house you can afford, but how much in recurring costs you can handle once you’ve purchased your home.”

So, lean on the pros for advice on expenses you may not be thinking of, so you can work them into your budget.

Tip #3: Don’t Skip the Inspection

When you find the right home, it’s easy to get caught up in the excitement. But skipping the inspection just to make your offer look stronger is a gamble that could cost you.

Instead, work with your agent to schedule a real inspection. They’ll connect you with local pros, make sure it’s booked, and help you understand the results so you can negotiate repairs or ask for money off at closing, if needed. It’s better to invest in this time up front to avoid what could be thousands in surprise repairs later.

Tip #4: Your First Home Doesn’t Have To Be Your Forever Home

For a lot of buyers, this is where unnecessary pressure creeps in. But remember, you don’t have to land your dream home right out of the gate. That’s why it’s called a starter home. It’s a starting point, not your final destination.

An agent will help you explore all your options, including ones you may not have thought about. For example, a well-kept condo, a townhouse in a great location, or a house with good bones can be a perfect first step into homeownership. The goal? Get in. Start building equity . Then, grow from there.

Bottom Line

Buying your first place is a big step, but it doesn’t have to feel like a step in the dark. Talk to an agent about where you’re starting from, what’s stressing you out (or holding you back), and what you actually need to know.

Source: Keeping Current Matters

What is An Appraisal Contingency and How Can it Impact Your Homebuying Journey?

Mon, 07 Jul 2025 17:09:02 GMT

Whether you’re looking to buy your first home or are a seasoned buyer looking to upgrade or downsize, navigating the housing market can definitely be daunting. Regardless of your experience level, the complex jargon and legalities involved when purchasing a home can be difficult to understand. One such concept all homebuyers should be familiar with is an appraisal contingency. In this guide, we’ll be exploring exactly what an appraisal contingency is and how it can impact the homebuying journey.

What is an appraisal contingency?

An appraisal contingency is a clause in a real estate contract that allows the homebuyer to back out of the transaction or renegotiate the terms of the sale if the property appraisal comes in lower than the agreed-upon purchase price.

Understanding home appraisals

Once the buyer has found a home they wish to purchase, they agree upon a purchase price with the seller, and if they opt for a mortgage loan, they then apply for a mortgage . At this stage, the lender requires an appraisal of the property to determine its fair market value. If the appraisal comes in lower than the agreed-upon purchase price, the buyer may not be able to obtain financing for the full amount and may have to pay the difference out of pocket or renegotiate the terms of the sale—this difference is known as an appraisal gap .

With an appraisal contingency in place, the buyer can protect themselves from being obligated to pay more than the fair market value of the property. If the appraisal comes in lower than the purchase price, the buyer has the option to back out of the sale without penalty or renegotiate the terms of the sale to reflect the appraised value.

What are appraisers looking for?

The appraisal value of a property is determined by a licensed appraiser who evaluates the property’s market value based on several constituents. Certified appraiser John Mulligan of Maui Aina Appraisal Company notes the following six factors:

Property characteristics: The appraiser considers the configuration, improvements, and amenities of a property such as the square footage , the number of bedrooms and bathrooms, the age of the property, and any unique features like a pool or fireplace.
Location: The appraiser looks at the location of the property, including the neighborhood, nearby amenities, and school district.
Comparable properties: The appraiser compares the property to three other recently sold (within the last 90 days) properties that are similar in size, age, and features.
Condition of the property: The appraiser evaluates the condition of the property, including any needed repairs or updates.
Market trends: The appraiser considers market trends and economic conditions at place that may affect the value of the property.
Zoning and use restrictions: The appraiser takes into account any zoning or use restrictions that may affect the value of the property.

These six main factors are taken into consideration by the appraiser to determine the fair market value of the property. This appraisal value is extremely important in determining the maximum amount a lender is willing to finance and helps the buyer and seller negotiate a fair price for the property.

Understanding an appraisal contingency – how does it work?

An appraisal contingency states that the sale of the property is contingent upon the property being appraised for a certain value. Here’s how it works:

The buyer and seller agree on a purchase price for the property.
The buyer has a licensed appraiser evaluate the property to determine its value based on factors like property characteristics, location, and comparable properties.
If the appraised value of the property is equal to or higher than the agreed-upon purchase price, then the contingency is satisfied, and the sale can proceed as planned.
If the appraised value of the property is lower than the agreed-upon purchase price, then the buyer can:

Negotiate with the seller to lower the purchase price to match the appraised value.
Request that the seller make repairs or upgrades to the property to increase its value.
Walk away from the sale altogether, as the contingency allows them to do so without penalty.

An appraisal contingency is important for the buyer because it protects them from overpaying for a property that is not worth the purchase price. It also provides a way for the buyer to renegotiate or back out of the sale if the property is appraised at a lower value than expected.

What is a contingent offer?

A contingent offer is a type of offer made by a buyer to purchase a property that is contingent upon certain conditions being met. These conditions typically relate to the sale of the buyer’s current property, securing financing, passing a home inspection, or the property appraisal reflecting fair market value.

What is an appraisal gap clause?

An appraisal gap clause is a provision in a real estate contract that addresses the difference between the appraised value of the property and the purchase price agreed upon by the buyer and seller.

When a buyer obtains financing to purchase a property, the lender requires an appraisal to confirm the property’s value matches the loan amount. In a competitive market, a buyer may offer more than the appraised value to secure the purchase. In this case, an appraisal gap clause can be added to the contract to address any difference between the purchase price and the appraised value.

An appraisal gap clause is designed to protect both the buyer and the seller by providing a clear understanding of how to proceed if the appraised value differs from the purchase price.

What is the difference between an appraisal contingency and a finance contingency?

An appraisal contingency and a finance contingency are two common types of contingencies included in a real estate purchase agreement. Here are the key differences between them:

Definition: An appraisal contingency is a clause in a real estate purchase agreement that makes the sale of the property contingent upon the property’s appraised value meeting or exceeding a certain amount. A finance contingency is a clause in a real estate purchase agreement that makes the sale of the property contingent upon the buyer obtaining financing to purchase the property.
Purpose: The purpose of an appraisal contingency is to protect the buyer from overpaying for the property. The purpose of a finance contingency is to protect the buyer from being contractually obligated to purchase the property if they are unable to secure financing.
Timing: An appraisal contingency is typically included in the initial purchase agreement and is usually resolved during the inspection period. A finance contingency is also typically included in the initial purchase agreement and is resolved once the buyer has secured financing (which may take several weeks).

Can an appraisal contingency be waived?

In short, yes, but it is risky. If you choose to waive an appraisal contingency, you are then agreeing to purchase the property at the agreed-upon purchase price, regardless of the appraisal value.

When should you use or waive an appraisal contingency?

When deciding whether to use an appraisal contingency, here are some factors to consider:

You are obtaining financing: If you are obtaining financing to purchase the property, the lender will typically require an appraisal to determine the value of the property.
The property is unique: If the property is unique and there aren’t many comparable properties to use for the appraisal, it may be wise to include an appraisal contingency to protect yourself in case the appraised value of the property is lower than the purchase price.
You are concerned about overpaying: If you are concerned that you may be overpaying for the property, including an appraisal contingency can help you back out of the purchase if the appraisal value is lower than the purchase price.

If you’re deciding to waive an appraisal contingency, consider the following:

You are a cash buyer: If you are a cash buyer and don’t need financing to purchase the property, you may consider waiving the appraisal contingency. In this case, you would be assuming the risk that the property won’t appraise for the purchase price. If you are comfortable with this risk, waiving the contingency can make your offer more attractive to the seller.
The property is in high demand: If the property is in a highly competitive market and there are multiple offers, waiving the appraisal contingency can make your offer more competitive.
You are confident in the value: If you have done your own research and are confident that the property is worth the purchase price, you may consider waiving the appraisal contingency.

If you do decide to waive an appraisal contingency for whatever reason, be aware that if the property does not appraise for the purchase price, you may be responsible for making up the price difference in cash.

What happens if the appraisal is lower than the sale price

If the house appraises for less than the offer, it means that the appraised value of the property is less than the agreed purchase price. This situation can have several consequences, such as:

Renegotiation of the purchase price: If the house appraises for less than the offer, the buyer can negotiate with the seller to reduce the purchase price to match the appraised value. If the seller agrees to reduce the price, the buyer can proceed with the purchase.
Additional down payment: If the buyer still wants to purchase the property, they may need to make a larger down payment to compensate for the shortfall in the appraised value. This is because the lender will only provide a mortgage loan up to the appraised value of the property.
Cancelation of the deal: If the seller is not willing to renegotiate the purchase price, and the buyer is unable or unwilling to make a larger down payment, the deal may be canceled.

It’s important to note that a lower appraised value is not always a deal breaker. If the buyer and seller are willing to work together to find a mutually acceptable solution, the purchase can proceed. However, if an appraisal contingency is not in place and this occurs, your loan may be denied unless you decrease your down payment. If you choose to not do so, you will have to walk away from the sale and thus forfeit your money.

What happens if the appraisal is higher than the sale price

If the appraised value is higher than the agreed-upon purchase price, the purchase can proceed as planned with the agreed-upon price since the seller is legally bound to this price regardless of the appraisal value. However, there may be some exceptions depending on the terms of the contract and state laws. If this occurs, this is in favor of the buyer as upon move-in, they receive more equity. This is true with or without an appraisal contingency, but without one the property purchased can proceed without the buyer needing to make up the difference.

Why and why not appraisal contingency

There are several reasons buyers may include an appraisal contingency such as:

Financial protection: If the appraised value is lower than the agreed-upon price, the buyer won’t be obligated to purchase the overpriced property.
Negotiating power: Having an appraisal contingency allows the buyer to renegotiate the terms of the purchase if the appraised value is lower than the agreed-upon price.
Ability to walk away: If the appraised value is lower than the agreed-upon purchase price, the buyer can terminate the deal and get their money back.

Despite the benefits, there are a couple of reasons why a buyer might not want to include an appraisal contingency such as:

Less competitive offer: In a competitive market, a seller may favor another offer, one without an appraisal contingency, since there would be fewer barriers to closing.
Renegotiation changes: If the appraised value is lower than the agreed-upon purchase price and renegotiation is taking place, it’s possible for the seller to change their offer.

Related FAQs about appraisal contingencies

What are other types of real estate contingencies?
There are several other types of real estate contingencies that buyers may include in their purchase contracts to protect themselves such as a financing contingency, inspection contingency, title contingency, and home sale contingency
Is there an appraisal contingency deadline?
The appraisal contingency deadline is negotiated between the buyer and seller and is typically set at 7-10 days after the appraisal is conducted. If the buyer misses the deadline, they may lose their right to terminate the contract based on the appraisal results. Thus, it is important to understand and meet all the deadlines in the contract with the help of a real estate agent or attorney.
How long is an appraisal good for?
Appraisals are typically considered valid for 120 days (4 months) from the date of the report, but the validity period can vary depending on the type of loan and the lender’s requirements. For example, government-backed loans may have a longer validity period of up to 180 days (6 months). This is because market conditions and other factors can affect the value of the property over time, so the appraisal is only a snapshot of the property’s value at a specific point in time.
Who pays for an appraisal?
In a typical home purchase transaction, the buyer is responsible for paying for the appraisal as part of their closing costs . However, in some cases, the seller may agree to pay for the appraisal.
How long does an appraisal take?
The timeframe for an appraisal can vary depending on factors such as the size and complexity of the property, the appraiser’s workload, and local market conditions. Generally, the appraisal process can take anywhere from a few days to a few weeks.
How much does an appraisal cost?
The cost of an appraisal varies depending on the location, size, and complexity of the property, but it typically ranges from a few hundred dollars to several hundred dollars.

Source: Redfin

Backyard Privacy Ideas: How to Block Views and Reduce Noise

Mon, 30 Jun 2025 16:44:18 GMT

Backyard privacy does not mean sacrificing style and comfort. Simple backyard privacy ideas like incorporating tall fences, dense evergreen plantings, and strategic placement of outdoor structures like gazebos can significantly enhance backyard privacy. A well-designed private backyard not only provides a comforting space but can also significantly boost your property’s value and curb appeal, all while offering a greater sense of security. Having a private backyard space is a dream for many homeowners. It’s where you can unwind, entertain, or simply enjoy nature without feeling exposed. In this Redfin article, we’ll explore a variety of effective backyard privacy ideas that can help you create your perfect personal space, no matter if you’re in Boulder, CO , or Fort Worth, TX.

1. Use plants to create natural privacy

People often associate backyard privacy ideas with unattractive features; however, one of the most natural and beautiful ways to create privacy is with plants. Think beyond a simple fence and consider a living screen. Not only do plants help with making your garden beautiful, but actively shelter your space from unwanted eyes.

Expert tip from The Mulch Mound : A great private outdoor space starts with well-designed mulch beds—they’re not just practical, they’re the foundation of a polished, peaceful yard. Deep, curved mulch beds lined with clean edging help define zones and guide the eye, making your space feel both organized and expansive. Layering tall shrubs and ornamental grasses within those beds adds natural screening without sacrificing style. For extra privacy, tuck seating areas behind mulch-lined plantings or use trellises with vines to soften fencing. Thoughtful mulch use keeps everything low-maintenance while tying together the look and function of your outdoor retreat.

Additional suggestions and ideas for creating a natural privacy wall include purchasing the following:

Tall shrubs and trees: Fast-growing evergreens like Leyland cypress or arborvitae can quickly create a dense visual barrier. Deciduous trees like maples or oaks offer seasonal privacy and shade.
Vines on a trellis: Climbing vines like wisteria, trumpet vine, or clematis can rapidly cover a fence, trellis, or pergola, adding a lush, green wall to your space.
Bamboo: Certain types of bamboo, especially clumping varieties, can grow tall and dense, offering a tropical and effective privacy solution. Just be sure to research the best types for your climate and consider root barriers for running varieties.

2. Add outdoor structures for built-in seclusion

Outdoor structures offer more than just shelter; they can enhance privacy in your outdoor space. These structures provide a framework upon which you can build a more secluded environment. By thoughtfully integrating them into your backyard design, you can create distinct zones that feel intimate and protected from outside views.

Pergolas, gazebos, and even shed walls offer more than just shelter; they can be excellent privacy enhancers for your outdoor space.

Expert tip from Tommy Pollina Landscape : “A great private space doesn’t just block views — it feels calm, tucked away, and thoughtfully put together. We like to blend privacy fencing or masonry walls with natural screening like evergreens, tall ornamental grasses, or layered shrubs. This creates a barrier without making the space feel boxed in. Features like trellises, pergolas, or plant-covered arbors can give you cozy, secluded spots within the yard that still feel open and inviting.”

Consider these structural privacy boosters:

Pergolas with curtains: Add flowing outdoor curtains to create a flexible, intimate retreat.
Screened-in gazebos: These create a private outdoor room perfect for dining or lounging, without worry about bugs or prying eyes.

3. Try stylish and strategic privacy screens

Standalone screens crafted from materials like wood, metal, or even repurposed items are perfect for blocking specific sight lines. Beyond their functional benefits, these screens can also serve as stylish additions to your yard’s aesthetic.

Add character with planters or shelving

Consider screens with integrated planters for a living wall effect, or those with built-in shelving to display outdoor decor and lighting, further enhancing their aesthetic and utility. The material choice itself can dictate the style. Aluminum offers a modern edge, while reclaimed wood provides a rustic look.

Use strategic placement to define outdoor zones

When integrating privacy screens, think about their strategic placement to maximize both privacy and visual appeal. Instead of just blocking an undesirable view, consider how a screen can define an outdoor “room” or create a captivating backdrop for a seating area or garden bed. For instance, a series of smaller, complementary screens can be used to create a meandering pathway, subtly guiding the eye while maintaining seclusion. You can also use them to visually separate different zones within your yard, such as a dining area from a lounging space, giving each its own distinct ambiance.

Go portable for adaptable privacy

Portable decorative screens offer incredible flexibility. These can be moved around as needed to provide privacy for impromptu gatherings, block sun glare, or simply refresh the look of your patio. Imagine screens with wheels for easy repositioning, or lightweight foldable designs that can be stored away when not in use. The key is to see these screens not just as barriers, but as dynamic design elements that can transform your backyard into a personalized sanctuary.

4. Choose fencing that adds both beauty and function

Fences and walls are classic backyard privacy ideas that don’t have to be boring. Increasing your backyard privacy can be easily achieved with a tall fence, provided your budget and space permit. With numerous styles and heights available, you’re sure to find one that works for you and your home.

Tip from Veronica Nguyen of Pentagon Fencing : A great private outdoor space seamlessly blends privacy, beauty, and functionality.” She continues suggesting, “When it comes to fencing solutions, I recommend tall, solid options like Colorbond Fences or Modular Walls for both durability and visual appeal. Modular walls are an outstanding choice. Not only do they offer a sleek, modern appearance, but they also provide excellent acoustic insulation, helping to block out street noise and enhance the feeling of seclusion. Modular walls and Colourbond fences are also highly durable, low maintenance, and come with a variety of stunning colors to suit any home style. Pairing both Colourbond fences or Modular Walls with greenery or vertical gardens softens the structure, creates a resort-like atmosphere, and adds a natural buffer. Strategic layout is key, so using screens or pergolas to section off seating or BBQ areas for a more intimate feel is an ideal combination. Additionally, integrating up/down LED lights will cast a soft glow along the surface of modular walls or slat fences, creating a sleek, modern look while highlighting textures and finishes. These are perfect for evening ambience and curb appeal.

Other stylish fencing options include:

Wood fences: Stain or paint them to match your home, or add lattice or custom cutouts for personality.
Gabion walls: Wire cages filled with rock or brick offer a modern, industrial look and help reduce sound.
Corrugated metal panels: Durable and edgy, these are low-maintenance and make a striking statement.
Combine fences with greenery: Add vines, planters, or vertical gardens to soften the structure and create a resort-like vibe. Strategic lighting can also highlight textures and boost nighttime curb appeal.

5. Incorporate elements to reduce noise

Achieving sound privacy in your backyard is just as important as visual privacy for creating a private retreat. Unwanted noise from neighbors, traffic, or urban environments can disrupt your peace and make it difficult to relax or entertain outdoors. While physical barriers like fences can block some sound, they often aren’t enough to create a quiet atmosphere. Strategically incorporating elements that absorb, block, or mask sound, you can transform your backyard.

Use white noise:

One of the most effective ways to enhance sound privacy is by introducing white noise. The soothing sound of water features can be incredibly effective at masking undesirable external noises. Fountains, with their gentle trickling sounds, can create a calming ambiance and help to muffle distant sounds. For more substantial noise reduction, consider larger water features like waterfalls or bubbling rock formations, which produce a greater volume of white noise. Joe Sexton from Inch Calculator suggests that incorporating water features can elevate the ambiance by masking noise and creating a relaxing retreat. Joe writes, “Elevate the ambiance by incorporating water features or outdoor speakers to mask noise and create a relaxing retreat.”

Layer in natural sound barriers:

Another approach to improving sound privacy involves utilizing dense plantings and thoughtful landscaping. While plants primarily offer visual screening, thick hedges, layered shrubs, and tall ornamental grasses can also help to absorb and diffuse sound waves, creating a quieter environment. Combining these natural elements with other structures can further enhance their sound-dampening capabilities. Veronica Nguyen of Pentagon Fencing recommends pairing fences, like Colorbond Fences or Modular Walls, with greenery or vertical gardens, noting that this combination softens the structure and adds a natural buffer. Additionally, elements like gabion walls, which are made from wire cages filled with rocks or bricks, are excellent at providing both visual privacy and sound dampening due to their dense material.

Reposition furniture and structures:

Finally, consider the strategic placement of outdoor structures and furniture to help create a more sound-protected area. Modular walls, for instance, are highlighted for their excellent acoustic insulation, which helps to block out street noise and enhance the feeling of seclusion. Draping a pergola with outdoor curtains can offer flexible privacy, allowing you to close them for an intimate atmosphere, which can also help to muffle sounds. Similarly, a screened-in gazebo creates a private outdoor room ideal for dining or lounging without concerns about external noise. By layering various sound-dampening techniques, you can effectively minimize disruptions and maximize the peace and quiet in your backyard.

A final note on backyard privacy ideas

As we’ve explored, creating a private backyard doesn’t mean sacrificing style or comfort. By thoughtfully integrating features like tall fences, dense evergreen plantings, and strategically placed outdoor structures, you can enhance your backyard’s privacy. Well-thought-out backyard privacy ideas provide a comforting space for relaxation and enjoyment. A home is meant to be your sacred area, and with these ideas, you’re on your way to creating the peaceful outdoor space you’ve always dreamed of.

Source: Redfin

How to Make Your Home a Happier Place

Mon, 16 Jun 2025 18:36:32 GMT

Create a haven that makes you feel good every time you walk through the front door

We spend so much time in our homes that it’s important that they bring us joy. Follow these inspiring ideas to spread a little happiness in your home.

1. Let In the Sunshine

Nothing will lift your mood like sunlight beaming in through your windows. To make sure that your home gets its full quota of rays, keep the glass clean and free from streaks and finger marks.

To clean the outsides, it’s often best to call in a professional, but the insides are easy to do yourself. Use a dry brush to sweep away dust from the frames, then sponge the glass with soapy water. Finally, remove the water by making S shapes on the window with a squeegee. Windows need to be cleaned at least twice a year. Don’t think yours are dirty? Give them a clean and you’ll immediately notice the difference.

2. Promote a Warm Welcome

Ensure that you feel good every time you come home by creating an inviting hallway. You’ll need good storage for your outdoor paraphernalia so that the entrance is tidy as you enter. Include hooks for coats, a shoe rack, and baskets for scarves, gloves and umbrellas.

Freshen up the area by painting the walls and door. The key is to choose a color scheme that makes you happy. Add mood-lifting extras such as flowers, a mirror or a beautifully scented reed diffuser.

3. Make Your Bed

A good day needs a cheery start, so one of the most positive things you can do at home is make your bed. By tidying your sleeping area when you wake up, you’ll begin your day on an upbeat note. This simple act will make you feel organized and ready for action.

Then later on, when you head sleepily up to bed, you’ll find a restful space to relax.

4. Get a Good Night’s Sleep

To make sure that your sleep is even more restful, it’s best to be in a completely dark room. When it’s dark, our bodies produce more of the hormone melatonin, which makes us feel tired. Light, in contrast, gives powerful cues to the brain that it’s time to wake up. To keep street lamps or early-morning sunlight from poking in, put up blinds or curtains with a blackout lining.

Similarly, keep a low-wattage lamp on your bedside table to help you wind down before you go to sleep.

5. Bring In Fresh Flowers

A vase of beautiful flowers instantly cheers up a room and lifts a person’s mood. By putting flowers on your kitchen table, you’ll connect with nature every time you come into the room.

Your choice of flowers can be anything from a huge mixed bouquet to a simple seasonal sprig. Start in January with early daffodils and hyacinths, then keep checking to see what’s around throughout the year. If you have outside space, try growing flowers that you can cut.

6. Fill It With Happy Memories

Display things around your home that remind you of friends, family and places you’ve visited. Put travel souvenirs where you can see them to remind you of experiences and perhaps to prompt you to make new plans.

We all have hundreds of photos on our digital equipment nowadays, but we often forget to print them. Set an evening aside to sort through them, get a selection printed and plan a creative way to display them.

7. Share It With Animals

Want to de-stress after a long day? How about curling up on the sofa and stroking your pet? Studies have shown that the simple act of cuddling an animal releases the hormone oxytocin, which makes us feel calm.

The benefits don’t stop there, though. By keeping a pet at home, you’ll have the opportunity to form a relationship with another creature, and hopefully you’ll be rewarded by lots of fun and cuddles.

8. Do Those Quick Fixes

Those household nuisances, such as leaky faucets and broken door handles, shouldn’t be ignored. Every time you come across something that needs fixing, you could get irritated.

So rather than putting off these annoying jobs, face them head-on. A little effort will result in a well-run home with no tricky hindrances, and you’ll get a welcome feeling of accomplishment to boot.

9. Make a Space for You

In a busy household, it’s important to find a place to gather your thoughts and spend a few minutes by yourself. Being alone for a while will allow you to recharge and get ready to face the world again.

If you can’t grab a whole room for yourself, a cozy corner will do just fine. If you have a hobby, such as crocheting or painting, create a designated space for it. Devise storage that will keep your equipment at hand so that you can dip in and out whenever you have spare time.

10. Connect With Your Neighbors

What really makes most of us happy are our relationships with other people. By making friends with your neighbors, you’ll be able to nurture those relationships whenever you’re at home.

Make the effort to say hello whenever you see your neighbors and offer to water their plants while they’re away. Before you know it, you’ll be well on your way to turning your street into a real community.

11. Make Healthy Eating Easy

Encourage a positive lifestyle by keeping healthy food within reach. The most obvious way is to put a bowl of fruit on the table, but there are other things you can do.

Avoid last-minute dinner decisions by displaying a meal planner in the kitchen, with nourishing options for the whole week. If you have children, get them involved by asking them to contribute their ideas.

Think of ways you can make it easy to choose a wholesome snack. Keep nuts and granola bars in tempting glass jars. If you’ve invested in a juicer or yogurt maker, don’t let it languish in the cupboard. Make room for it on the counter so that you’ll be more inclined to use it.

Source: Houzz

Newly Built Homes May Be Less Expensive Than You Think

Mon, 09 Jun 2025 14:08:37 GMT

Do you think a brand-new home means a bigger price tag? Think again.

Right now, something unique is happening in the housing market. According to the Census and the National Association of Realtors (NAR), the median price of newly built homes is actually lower than the median price for existing homes (ones that have already been lived in):

You read that right. That brand new, never-been-lived-in house may cost less than the one built 20 years ago in a neighborhood just down the street. So, if you wrote off a new build because you assumed they’d be financially out of reach, here’s what you should know. You could be missing out on some of the best options in today’s housing market.

Why Are Newly Built Homes Less Expensive Right Now?

1. Builders Are Building Smaller Homes

Builders know that buyers are struggling with affordability today. So, instead of building big houses that may not sell, they’re building smaller ones that will. According to the Census , the average size of a newly built single-family home has dropped considerably over the past few years.

And as size goes down, the price often does too. Smaller homes use fewer materials, which makes them less expensive to build. That helps builders keep prices lower so more people can afford them.

2. Builders Are Offering Price Cuts and Incentives

In May, according to the National Association of Home Builders (NAHB), 34% of builders lowered their prices, with an average price drop of 5% . That’s because they want to be sure they’re selling the inventory they have before they build more.

On top of that, 61% of builders also offered sales incentives – like helping with closing costs or buying down your mortgage rate. These are all ways builders are making their homes more affordable, so these homes sell in today’s market.

Your Next Step? Ask Your Agent What’s Available Near You

If you’re trying to buy a home right now, be sure to talk to your agent to find out what builders are doing in and around your area. They can find new home communities, as well as builders who are offering incentives or discounts, and hidden gems you might not uncover on your own.

Plus, buying a newly built home often means there are different steps in the process than if you purchase a home that’s been lived in before. That’s why it’s so important to have your own agent who can explain the fine print. You want a pro in your corner to advocate for you, negotiate on your behalf, and make sure your best interests come first.

Bottom Line

You could get a home that’s brand new, with modern features, at a price that’s even lower than some older homes. Talk with a local real estate agent about what you’re looking for and see if a newly built home is the right fit for you.

Source: Keeping Current Matters

What Is a Mother-in-Law Suite, and Does It Add Property Value?

Mon, 02 Jun 2025 19:06:03 GMT

Ever feel like you could use a little more… personal space? Or perhaps your family dynamics could benefit from a touch of architectural ingenuity? Enter the granny pod, also known as the mother-in-law suite, an increasingly popular housing solution that’s way more than just a spare bedroom. These aren’t your grandma’s dusty attic; they’re thoughtfully designed, often self-contained living spaces popping up in backyards across the country.

Paola Jean-Marain with Tiny Eco Homes UK shares, “Mother-in-law suites offer a unique way to keep loved ones close while still maintaining independence and privacy. With thoughtful design, these compact homes can feel just as warm, personal, and inviting as the main house — tailored to meet both emotional and practical needs in a beautifully small footprint.” From planning a new build in Newnan, GA, to upgrading an existing property in Austin, TX, or preparing your Suffolk, VA home for aging parents, this guide offers comprehensive insights into navigating alternative living spaces.

What is a mother-in-law suite?

In its simplest form, a mother-in-law suite is a residence created within a home, an addition built onto a home, or a separate dwelling unit intended for the use of an in-law or relative. The suite can be either connected to or built on the same lot as a home that’s occupied by other family members. Often, the purpose of a mother-in-law suite is to make it possible for elderly family members to live near their adult children or family members, yet still, maintain their independence and privacy. This is very common in multi-generational households where children often live with their parents and grandparents in the same house.

The concept of a mother-in-law suite, or now more popularized as the “granny flat,” has been around for decades. It was most popular in post-WWII America until zoning laws were put in place that eventually shut down their construction. Today, the mother-in-law suite, whether it’s a portion of a house that has been remodeled to accommodate a relative, or a smaller, detached “granny flat,” is beginning to see a resurgence with homeowners.

What makes up a mother-in-law suite?

A typical mother-in-law suite consists of a sleeping quarter, living quarter, kitchen, and bathroom. Though it can be attached to the main house, the living quarters typically remain separate from the rest of the house and household, yet close enough so grandparents can help with grandchildren, and/or adult children can care for their parents.

Mother-in-law suites can be as simple as a single room that has a bed, couch, and place to eat, along with access to a bathroom, but ideally, it would have its own private bathroom.

They can also be located in a separate portion of the house, such as a basement with a separate door, garage, or attic that has been remodeled and suited to the residents’ needs.

The growing allure: Why are mother-in-law suites gaining traction?

Mother-in-law suites are becoming an increasingly popular home trend among families. One significant driver is the rise of multigenerational households; according to USA Today, approximately 51 million Americans live in such arrangements, a 10% increase since 2007. This living situation allows both generations to share in the financial responsibilities of homeownership.

Beyond financial sharing, these suites can offer independent living for post-graduate adult children, helping them manage debt as they begin their careers and save for their own homes. The sharp increase in assisted living facility costs for aging adults is another compelling reason for their popularity. The national average monthly cost for assisted living in 2024 is around $4,917, a sum that can create a financial strain on both parents and children. A granny pod, however, can be a more affordable long-term solution, potentially breaking even within a few years when compared to nursing home care, which can average over $100,000 per year for a private room.

Finally, the surge in permanent work-from-home arrangements has also fueled interest in in-law suites. Pew Research indicates that about 54% of employed workers desire to work from home, nearly a 30% increase from before the Coronavirus pandemic. Many prefer a designated area for work, keeping it separate from the main family living space.

What are the common types of mother-in-law suites?

Mother-in-law suites come in several forms, each offering distinct advantages:

Interior mother-in-law suites: These are situated within the main family residence. This could involve a converted basement or a section of the main house, like a study or den. Some homes are designed with floor plans that readily accommodate extended family members, featuring bedrooms at opposite ends of the house and separate bathroom facilities for both generations, though they might share a living room, dining area, and kitchen. If a basement is transformed into an in-law suite, it typically includes its own kitchen, bedroom, bath, and living area, often with a walk-out basement providing a separate entrance.
Attached mother-in-law suites: This type involves a separate living space built onto an existing home, often as an addition to the side or back of the house.
Detached mother-in-law suites: Detached mother-in-law suites, also known as accessory dwelling units (ADUs) or secondary suites, are typically smaller, independent homes built on the same lot as a single-family residential house. These structures offer significant flexibility, varying in size, features, and styles to suit individual tastes and needs.
Ian Butcher, Founding Partner of Best Practice Architecture , frequently receives inquiries about these detached units. He notes they are excellent for helping aging family members live autonomously yet safely close by, or they can serve as a valuable source of passive income or a supportive landing spot for a college graduate returning home. While regulations for detached ADUs are easing, such projects can still be complex and expensive. Even if simple, they are complete homes requiring a kitchen, bathroom, and all systems of a larger residence. Butcher emphasizes understanding local development rules, including property lines, setbacks, lot coverage, and parking. He stresses that hiring a licensed professional is crucial to navigate the project. He also recommends planning for flexible usage and creating distinct private yard spaces for both the primary home and the new detached ADU
Attic or garage In-law suites: This involves remodeling the garage or attic portion of the home to accommodate relatives. The remodel usually includes a bedroom, bathroom, kitchen, and living area. An attic space over a stand-alone garage can offer even greater privacy than an attic within the main house.

“As these specific tiny units are meant to be occupied by elderly people who may have some mobility difficulties, it is essential to consider accessibility and ergonomics. Typically, when designing in a tiny space, some recommended distances and sizes are reduced to fit more in the limited space.

But when elderly people are the inhabitants, it is crucial to have enough free space and room around objects, and this is especially true if we talk about the bathroom. Tiny enclosed shower cubicles are definitely a no-go, as well as high thresholds. When planning for an appropriate position in the garden, consider having wider, lower steps with a good, solid railing for support, if the house is raised above the ground level. Ideally, accommodate a gently inclined ramp instead of stairs.” – Hristina Hristova, Co-founder/partner at Koleliba

How much does a mother-in-law suite cost to build?

The cost to build a mother-in-law suite varies greatly depending on which type of mother-in-law suite best suits your situation, how big of a suite you plan to build, and the specific amenities you want to incorporate into the space. Let’s look at each option a little closer.

Interior mother-in-law suites: Like each of these options, you can spend quite a bit remodeling or finishing a basement into a mother-in-law suite. However, redoing a basement or portion of the main house into a separate suite for mom can be a less expensive option than building a detached mother-in-law residence from scratch. According to HGTV, it can cost less than $3,000 to more than $200,000 to convert a basement into extra usable space. Keep in mind when working in a basement, you could run into problematic issues such as water damage that would require costly remediation before you ever even get started on the actual addition.
Attached mother-in-law suites: Buildinganadu.com states that the cost to build a 500 square foot attached mother-in-law suite costs as little as $106,000 or up to $216,000 depending on the full scope of the project. Again, this can vary depending upon the size of the space, how elaborate it is, and whether you decide to do any of the work yourself.
Detached mother-in-law suites: According to Bob Vila , the cost to buy a new prefab detached granny pod can range from as little as $30,000 for a “bare-bones” structure, up to $125,000 on the high end. This includes the cost of delivery and placement on an already constructed concrete pad. Of course, the cost to build a detached structure can be much higher, should you decide to create a smart home for example.
Garage mother-in-law suites: Expect to spend $15,000- $20,000 to convert a garage or existing shed into a mother-in-law suite, according to Bob Vila.

Typical ranges and variances

The cost of a mother-in-law suite varies significantly, as it’s influenced by numerous individual factors. While pinpointing an exact price is challenging, utilizing existing spaces like a basement, attic, or garage can significantly reduce expenses compared to building a new standalone structure. Overall, the cost to create a mother-in-law suite can range from $5,000 to over $300,000. According to HomeGuide , converting an existing space typically falls between $5,000 and $100,000, whereas new additions or detached structures can range from $30,000 to $280,000.

How do you build a mother-in-law suite?

Building a mother-in-law suite takes forethought and planning, as you might expect. Whether you are adding an addition to the main house, remodeling a garage or basement, or going all out and building a separate structure in the backyard, you will need to check codes and ordinances to determine what is, and isn’t allowed in your area. These zoning laws, occupancy codes, and even homeowner’s association covenants, conditions, and restrictions (CCRs) will dictate exactly what you can do.

Once you have verified that your project is permitted , you will need to decide how much, if any, sweat equity you will put into the project, or if you would rather pay to have someone else complete the whole project for you.

As you prepare to start building, think about the future use of the suite, especially if you are building a detached unit. You may want to rent the unit out and having separate electricity, water, and gas run to the ADU will enable you to keep utilities separate from the main house. This will also allow you to shut them completely off if the building were to be vacant for a period of time.

Keep your relative’s needs in mind when you are in the design stage as well. Will doors need to be built that can accommodate a walker or wheelchair? Do handrails need to be placed in the bathrooms? How about a zero-curb shower entrance? Thinking about the future can make a more seamless transition for your relatives down the road.

What else can mother-in-law suites be used for?

Sometime in the future, your mother-in-law suite may become vacant. If so, there are various options that you can do with that space, regardless of whether it’s attached to the main house, built into the basement, or is a completely separate structure.

Houses with mother-in-law suites can double as a backyard office , a long-term rental property (check your local codes), an Airbnb, a business endeavor such as a yoga studio or art studio, a home gym, nanny quarters, or even a commercial kitchen for a baking/cooking business. A vacant, detached in-law suite could also just be used as a she-shed or man cave, the possibilities are endless.

Where can you build a mother-in-law suite?

The legal landscape for this living setup, often officially known as accessory dwelling units (ADUs), varies considerably across the United States. However, several states have implemented more ADU-friendly legislation, simplifying the process for homeowners to add these structures.

Understanding state-level opportunities

California: California leads the movement for mother-in-law suites, having enacted statewide legislation to streamline the permitting process and encourage their development. Cities like Fresno were early adopters. Robert Voight , owner and general contractor in Orange County, highlights that homeowners there can typically build units up to 1,200 sq ft, with four-foot setbacks and reduced parking requirements near transit. He adds that while planning, design, and permitting for a granny pod or mother-in-law suite might take four to six months, construction typically averages another five to seven months. Modern mother-in-law suites now often incorporate smart home integration, energy-efficient systems, and adaptable layouts designed to accommodate multigenerational living, remote work, or wellness spaces. Prioritizing features such as no-step entries, wider doorways, and separate entrances ensures comfort, independence, and long-term livability for residents of these specialized living spaces.
Oregon: With a focus on innovative housing solutions, Oregon generally has favorable ADU regulations, particularly in urban areas like Portland.
Texas : While considered ADU-friendly, it’s crucial to check local county regulations as laws can vary. Cities like Austin are more progressive.
Florida : Several counties, such as Sarasota, are becoming more open to ADUs.
Arizona : If a tiny house or granny pod is built on a solid foundation, it’s typically considered a secondary dwelling unit and subject to similar regulations as a detached single-family home.
Georgia : This state is also among those with increasing acceptance of ADUs.
Colorado : While allowing ADUs, Colorado’s regulations often come with specific conditions.
Massachusetts : Some cities and towns offer incentives or reduced restrictions to encourage ADU construction.
North Carolina : ADU regulations are typically handled at the county level, so investigating local ordinances is important.
Utah : Regarding specific state requirements for mother-in-law suites, JP Coles, chief sales and marketing officer for Nest Tiny Homes , notes that in Utah, an ADU or tiny home must be a permanent structure and cannot be on wheels. This means it requires both a concrete foundation and utilities such as water, sewer, and power. Additionally, engineering and architectural plans must be submitted for permits and approved before construction can begin.
Washington : Generally becoming more accommodating towards tiny homes and ADUs, especially if built on a permanent foundation, though some regions may have restrictions.
Tennessee : Tennessee has a specific law allowing “temporary family health care structures,” under certain conditions related to the occupant’s health and the caregiver’s relationship.

Do mother-in-law suites add value to my property?

Yes, mother-in-law suites can increase your property’s value , though precisely by how much is difficult to quantify. The variations in in-law suites, finishes, and amenities all impact the value differently. Despite their growing popularity, mother-in-law suites have been challenging for appraisers and real estate professionals to value due to a lack of suitable real estate comparables.

However, national averages offer some insight: a basement remodel can increase a home’s value by nearly $50,000, while adding another master suite can increase it by $80,000 on average. Ultimately, the value gained from adding a mother-in-law suite largely depends on your area and the type of addition you make.

As a seller, recognize that your home might not appeal to everyone, especially if you convert one of two garage spaces into a mother-in-law suite in a neighborhood where two-car garages are standard. Conversely, expanding your home to accommodate a relative could significantly increase its overall value and appeal to homebuyers when you decide to sell. Beyond monetary gain, there’s also the personal value this extra space provides while you’re using it, whether for elderly relatives, frequent guests, or a recent college graduate.

If you want to know more about your property value, use Redfin’s home value estimator to get a free, instant home-value estimate, see nearby sales and market trends, and update your home facts and photos.

Source: Redfin

How to Design a Kitchen That’s Easy to Clean

Mon, 26 May 2025 18:56:53 GMT

Eager to reduce scrubbing time? Get expert advice on making easy maintenance part of your kitchen plan

The kitchen tends to be the room in our home that needs the most cleaning. The good news is that, with a little planning, you can have a design that makes cleaning a breeze and allows you to spend less time mopping and more time enjoying your space. Get out these seven tips for an easy-to-clean kitchen.

1. Buy Easy-Clean Appliances

It’s understandable to be dazzled by the performance or look of a smart new kitchen appliance, but Eva Byrne of Houseology suggests that you also consider potential purchases with a view to keeping them clean.

“Choose a [range] that’s fuss-free and easy to wipe down without needing any exotic lotions or solutions,” Byrne says. “Have a good look at details, such as the knobs on your oven, to make sure there are no hard-to-get-at nooks. Knobs that are too close together mean you can’t get a cloth between them, for example.”

Designer Nicolle Whyte agrees and suggests choosing an induction cooktop, “as it’s flat, easy and safe to clean.”

Furthermore, Louise Delaney, design manager at Cameron Interiors , says, induction cooktops save you from having to clean the grates and other parts found on gas cooktops.“We recommend choosing appliances with cleaning programs included. Let your appliance do the cleaning for you!” She suggests choosing ovens with pyrolytic cleaning functions (which heat the oven to high temperatures to burn off residue), steam ovens with automatic steam cleaning and drying programs, and coffee machines with automatic cleaning.

2. Pick a Simple Backsplash

Tile is a popular choice for a kitchen backsplash, but if you don’t want to spend time scrubbing grout to keep it sparkling clean, there are other options.

If you’re set on tile, pick a large-format style to minimize the amount of grout you have to clean. If you choose a glass backsplash, you won’t have to deal with grout at all, Whyte says.

3. Favor Flat-Front Cabinets

“Selecting smooth furniture fronts prevents cooking residue forming on decorative grooves and ridges,” Delaney says. Watch out for cutout pulls, though, since they can harbor crumbs.

4. Choose Your Countertop Material Wisely

“Select materials such as Corian, quartz, steel or sintered stone [mineral and stone particles bound together with heat and pressure], which are nonporous, prevent stains and are easy to wipe clean,” Delaney says.

“Solid-surface [countertops], such as Corian, are probably the most hygienic,” Whyte says. “They have a seamless finish and therefore don’t have grooves to trap dirt. This is why you see them used in hospitals and fast-food chains.”

5. Use Durable Paint

If you have painted walls in your kitchen, you’ll need to wipe them down more often than the walls in other rooms. Choosing a hardwearing paint finish will make this job easier.

“Use an oil-based eggshell [finish], as you can easily wipe this clean without damaging the paint,” Whyte says.

6. Avoid Open Shelves

Open shelves may look attractive when beautifully styled, but they can be a high-maintenance cleaning option if you have to move dishes, books and decorative objects just to run a duster over the surface.

For a fuss-free kitchen design, Byrne recommends avoiding open shelves “that gather dust and grime” and springing for wall cabinets instead.

7. Use Drawer and Shelf Liners

Drawers can be a bit of a minefield to keep tidy, with crumbs and dust sifting down to settle at the bottom. To keep on top of this, Byrne suggests lining drawers and shelves “with wipeable liner material, cut to size, to prolong the life of your units.”

Whyte agrees and suggests choosing “a melamine finish on the inside of cabinets, as it doesn’t absorb spillages like oak or walnut would.”

Source: Direct Message News

9 traits of people who instinctively return shopping carts

Mon, 19 May 2025 18:28:27 GMT

I remember the first time I noticed this phenomenon.

I’d just finished my grocery run, arms heavy with bags, and spotted a stranger crossing the parking lot to return their shopping cart to the designated area.

They didn’t look around for applause or do a big show of it. They simply pushed the cart back, then headed to their car with a quiet sense of completion.

Watching them, I thought: Why do some folks automatically walk that extra distance, even if it’s raining or their car is way on the other side?

It got me thinking about what drives these small acts of kindness.

I’ve come to believe that people who return shopping carts have specific mindsets and habits—little glimpses of values that make them who they are.

Below are nine traits I’ve noticed in people who take this simple, yet telling, action.

1. They care about the greater good

Whenever I see someone returning a cart, it strikes me as a sign of deep consideration for the community around them.

They think beyond themselves and understand that leaving a cart in the middle of the parking lot might inconvenience another driver or block a parking space.

This mindset might seem minor at first glance, but think about how much of society runs smoothly when we all do small things that help others. It’s a domino effect; a single act of thoughtfulness can prevent a lot of hassle and even accidents.

Individuals who instinctively return carts usually carry this communal perspective into other areas of life.

They’re the ones who hold doors open, who help neighbors with a heavy load, or who volunteer at local charities when time allows. They see themselves as part of a larger whole, and their actions reflect a desire to keep everything running a little more smoothly for everyone.

2. They value personal accountability

I’ve often noticed that people who consistently return shopping carts tend to hold themselves to a higher standard of personal responsibility.

They don’t wait for someone else to clean up their mess or pick up the slack.

The cart situation is a perfect metaphor: no one is forcing you to bring it back, there’s no penalty if you don’t, and yet some folks do it anyway. They’ve set their own internal rules for behavior, even when no one is watching.

At DM News, we’re all about fostering that sense of personal responsibility. Whether it’s returning carts or completing a task at work without being reminded, these small acts build a strong foundation for self-discipline .

And with greater self-discipline comes more confidence in your abilities and a clearer sense of what you can achieve in life.

3. They appreciate the impact of micro-actions

Some people think grand gestures change the world, but I’ve learned that small, seemingly insignificant decisions can also create real ripple effects.

Returning a shopping cart might not earn a gold star from the universe, yet it influences others to do the same.

I’ve personally seen how these micro-actions add up. When we start with tiny habits—like making our bed each morning or returning a cart—we’re signaling to our mind that we respect the environment and the people around us.

In turn, we become more proactive in other areas, too.

Before I embraced this view, I used to underestimate how these mini acts add to a larger picture. Once I realized how good it felt to take consistent, positive steps, my perspective shifted.

If you can adopt even one micro-action, you’ll likely find yourself tackling bigger goals with more enthusiasm and follow-through.

4. They challenge limiting beliefs about what’s “worth it”

There was a period in my life when I questioned whether small acts were truly valuable. I’d think, “Well, what difference does returning one cart really make?”

That was around the same time I discovered Rudá Iandê’s Free Your Mind masterclass .

I initially signed up for it because I was struggling to see the point of investing time in tiny efforts—or, truth be told, investing time in myself. During the course, I realized I had deep-rooted beliefs that told me, “Your small actions don’t matter.”

Rudá challenged me to look inward and ask: “Am I holding myself back by dismissing the power of daily choices?”

The exercises he guided me through helped me see that every decision, no matter how small, is part of building a life that aligns with my values.

After completing the masterclass, I noticed a shift. Even returning a shopping cart felt less like a chore and more like a personal statement: My small acts do matter, and I’m capable of creating a positive impact every single day.

5. They embody consistency and follow-through

One reason I admire those who always return carts is their consistency. They show up for their principles day after day, not just when it’s convenient.

This trait isn’t limited to shopping carts. I’ve seen these individuals keep their promises in group projects, be the first to arrive for a volunteer shift, or stay true to their workout routines even when they’re tired.

Consistency is more than a buzzword—it’s a superpower that builds trust with yourself and others.

When you know you can rely on your own actions, your self-esteem grows.

And let’s face it: if you can’t trust yourself to follow through on small tasks, it becomes harder to tackle the bigger goals life throws your way. Returning a shopping cart is just one sign of that inner commitment.

6. They have a strong sense of empathy

I once spoke to a friend who said she returns carts because she remembers her own days working as a supermarket cashier.

She recalled being asked—during busy times—to dash outside and gather stray carts in sweltering heat. Her empathy for those employees is what motivates her to always return her cart.

Empathy, in this sense, isn’t about grand acts of charity—it’s about understanding that your choices affect real people.

In life, empathy can encourage you to check in on a friend who’s going through a hard time or pause to genuinely listen when someone shares a struggle.

People who have this strong empathetic drive don’t do it for praise; they do it because they understand how it feels to be on the receiving end of thoughtless actions.

They see themselves in the shoes of the cart collector or the next customer, and they choose kindness.

7. They are mindful and present in daily tasks

If you’re in a hurry and your mind is racing, it’s easy to leave the cart wherever you feel like. But the people who return it almost effortlessly are usually those who practice being present in the moment.

Mindful living isn’t reserved for meditation retreats or sitting quietly in a yoga pose.

It’s also about noticing what’s happening right now—like the shopping cart you just used—and completing that tiny loop of responsibility before moving on.

When I first started dabbling in mindfulness, I was surprised by how often I left tasks half-finished—dishes in the sink, laundry in the dryer, a half-written email.

Returning my cart became a small mindfulness practice in itself. It was a moment to pause, breathe, and complete what I started.

People with this trait find that bringing full attention to one task helps them bring the same attention to other areas of life, whether it’s their work or relationships.

8. They understand that character is revealed in small moments

Character is often built when no one’s watching. Returning a cart is one of those private decisions that reveal your true attitude about responsibility, kindness, and empathy.

Individuals who prioritize these qualities don’t do it to impress a boss or a friend—there’s usually no external reward. They simply align their actions with who they want to be at their core.

I’ve learned over time that it’s in the seemingly inconsequential choices—saying “please” and “thank you,” picking up a stray piece of litter, or showing up on time—that we define our character.

Each time you decide to do the right thing, you strengthen the muscle of integrity. People who return shopping carts seem to know that all too well.

Lastly, people who instinctively take their carts back appear to find genuine happiness in simple acts of kindness.

They aren’t waiting for a grand stage to show off their compassion. For them, life’s everyday moments are filled with opportunities to be thoughtful.

This mindset carries over into how they treat friends, family, and strangers.

Maybe they leave encouraging sticky notes on a coworker’s desk or send a quick text to a friend who’s feeling down. Whatever the case, their generosity isn’t hinged on big gestures—it’s infused into how they move through the world every day.

And that’s the beauty of kindness: it doesn’t have to be huge to be meaningful. Sometimes, just returning a shopping cart can remind others that the small stuff matters more than we think.

Conclusion

What I’ve come to see is that returning a shopping cart is about more than tidiness or convenience. It’s a reflection of personal values—empathy, mindfulness, and a commitment to doing what’s right.

Source: Direct Message News

Why Is Everyone Googling ‘Homes With Arches’?

Mon, 07 Apr 2025 17:52:52 GMT

Home stagers are turning to arches and geometric shapes to bring a more contemporary edge.

Homes are getting outfitted with geometric shapes and patterns to achieve a more eye-catching dimension to a space. The home remodeling site Houzz recently highlighted the rising popularity in online searches for geometric designs in home interiors.

Geometric shapes can bring in a more modern yet structured design. Arches, in particular, have become a design standout in 2025. For example, Houzz notes that online searches for “arched cabinets” have tripled over the last year. They note that it reflects growing consumer interest in organic modern styles.

Also, more home accessories are getting arched. Online searches for “oval mirrors” are up 41% over the last year. These oval mirrors are catching on in bathrooms, with searches for “oval bathroom vanity mirrors” up by a whopping 500% compared to last year.

Also, for some other geometric contrast in a space, homeowners are pairing rounded forms with “square coffee tables” or even “checkerboard floors,” Houzz’s report notes. “These elements create a bold, graphic statement that pairs beautifully with softer textures,” Houzz notes.

Further, curved furnishings and hexagon coffee tables are adding in more shapely home design features.

Source: Houzz

How to Form New Habits That Keep Your Home Clutter-Free

Mon, 24 Mar 2025 18:20:26 GMT

Tired of an untidy house? Try a new approach by adopting habits that automatically keep your home orderly

Tackle Your Own Spaces First

Source: Houzz

Avoid This Color if You're Painting Your Front Door

Mon, 17 Mar 2025 17:07:54 GMT

Here are various paint colors that may wow prospective buyers — and colors that fall short.

Do you find yourself browsing homes on Zillow and pausing at a home that has a stand-out front door? Maybe it’s a bright red or a sunshine yellow. There’s a reason you paused — and it’s likely because the seller was hoping to catch your attention . And hey, it worked! But not all colors work the same way on the same features of a home.

What colors should I avoid?

Compared to all of the other decisions you need to make about your home, the color of your front door can potentially boost — or reduce — the price of the offer you receive on your home when you’re selling it.

“You want the buyer to fall in love as soon as they pull up [to your home],” said Dallas-based Zillow Premier Agent Christie Cannon , during a 2023 Zillow virtual panel . “Then they're getting out of the car with their agent, they're walking up to the front door. And that front door matters. It's the pop of the color of the door that shows how much depth, how much personality, and how much sophistication [the home has].”

There are a number of paint colors that may help change buyer perception — for better or worse.

Gray

Gray is a very popular color for a home's interior. In fact, Zillow has found that dark gray is associated with higher offer prices than white in a home's kitchen, living room, bathroom and bedroom.

But no matter how trendy a color may be, there is a right way and a wrong way to do color. That's according to Mehnaz Khan, a color psychology specialist and interior designer in Albany, New York. he color gray just doesn’t hit the mark for a home’s front door.

Zillow’s research finds that both recent and prospective buyers would offer $3,365 less for a home with a cement gray front door.

Bright red

Going bold or experimental doesn’t appear to pay off either. While buyers are somewhat likely to say they like a home with a bright red front door, they are less interested in the listing and aren't as eager to actually tour the home.

A bright shade of red isn't a very popular color for home exteriors or interiors. Red can be hard to work with inside the home when it comes to furniture and countertops. And outside, it can be too bold and come across as a wild color. However, more reserved shades of red can be better for front doors.

Saturated blue & olive green

In the same vein, front doors painted a saturated blue and olive green are associated with buyers being least likely to want to take a tour. These two shades are also associated with a lower offer price — about $1,300 less.

While these colors are not so popular for front doors, many of HGTV's 2024 Colors and Palettes of the Year pointed to shades of blue and green as very trendy for home interiors. Mind you, this list is made up of colors that the paint companies themselves heralded as their most notable for 2024.

More about blue

The list included Benjamin Moore's 2024 Color of the Year — Blue Nova — as well as Sherwin Williams' January 2024 Color of the Month, pale blue Upward .

Color theory states blue is a calming color , and that's why it's best saved for spaces inside the home, like the bedroom or bathroom. Painting your front door in one of these more reserved shades might be fine, but going with a bright, saturated blue may be too loud and attract too much attention for many potential buyers.

Why not green?

HGTV mentioned Graham & Brown's 2024 color of the year, Virdis — a muted, mossy green. This paint, and similar greens, give off earthy vibes. James Hardie's moody Mountain Sage is similar, reminiscent of the dark-green mountains.

Olive green, like these other two shades, is a more neutral tone compared to many other greens. If the rest of the home's exterior is already pretty neutral, a door in the same family may have buyers seeing a bland front entrance.

Paint your front door these colors

Black

Black front doors not only made a home seem more appealing, but buyers are more likely to follow up for an in-person tour if the door is black. More Zillow research indicates a black front door is associated with the highest resale price compared to other front door colors like red and blue. This shade could boost an offer price by about $6,450 more than the typical U.S. home value in 2022. That’s a major return on investment considering the cost of a can of paint.

Brown

Mid-tone brown is one color that prompts buyers to make a higher offer, likely because this rosy, terracotta hue feels more like an oak wood instead of paint, thus its durability and timelessness could prompt shoppers to offer more for a home. Zillow research found this shade is associated with a $300 higher offer compared to an offer for a white front door.

Additionally, bathrooms painted terracotta brown, a 2023 color of the year , could help a home sell for $1,624 more than similar homes.

White or chalky blue

White front doors, along with those painted a chalky blue, bring higher intentions to tour the home, as well as higher general interest from home shoppers. These are classic colors that don't draw much attention, so you can let the rest of the home stand out.

Once you can bring prospective buyers through the entryway, your interior staging can do the rest of the work.

Of course, just because you chose your front door color wisely doesn’t mean you can guarantee you’ll maximize the price you’ll ultimately sell for. Numerous other cosmetic factors, including digital curb appeal, could skew a buyer’s perception of your home. It’s also important to consider the color and material of your home’s exterior to determine if a paint color is a good fit. Need more color inspiration? Here are the best colors to paint your home’s interior if you’re looking to sell it.

Source: Zillow

6 Reasons Why New Construction is Winning This Year

Mon, 10 Mar 2025 14:40:10 GMT

In today’s rapidly evolving real estate market, new construction rental properties are emerging as the clear choice for savvy investors. Rising maintenance costs, inflated insurance premiums, and escalating material expenses make older homes less appealing to landlords and tenants. Meanwhile, modern, energy-efficient homes meet tenant expectations while providing landlords with reduced operational costs and higher long-term returns.

Our partners at Rent To Retirement specialize in helping investors navigate these challenges and capitalize on the growing demand for new construction rentals . Let’s dive into the data and why this trend reshapes the rental property landscape.

1. Maintenance Costs: Why Older Homes Are Draining Your Budget

Maintaining older properties is becoming increasingly expensive. Systems like HVAC, plumbing, and electrical wiring often require costly repairs or replacements, especially in homes over 30 years old.

According to the National Association of Home Builders, homes built before 1960 incur annual maintenance costs averaging 8% of the home’s value, compared to just 2% for homes built in the 2010s ( HomeKeep ).

How new construction helps:

Modern materials and systems require fewer repairs.
New builds often come with warranties covering significant components for up to 10 years.
Reduced maintenance translates to higher profitability and less time spent managing repairs.

2. Insurance Premiums: A Hidden Cost of Older Homes

Insurance companies charge significantly higher premiums for older homes due to their increased risk of damage. The average premium for a home older than 30 years is 75% higher than that for a newly constructed home ( The Zebra ).

Why new builds are cheaper to insure:

Compliance with modern building codes reduces risk.
Disaster-resistant features like hurricane windows and reinforced roofing lower premiums.
New homes are less prone to fires, floods, and structural failures, keeping insurance costs manageable.

3. Tenant Preferences: Modern Amenities Matter

Tenants are becoming increasingly selective about where they live. According to a RCLCO survey in 2023, 37.3% of renters stated they would be willing to pay more for new kitchen appliances, while an additional 50.7% indicated they might consider paying higher rent for them. Outdated layouts, inefficient systems, and cosmetic wear and tear in older homes drive tenants toward new construction.

What tenants want:

Energy-efficient appliances and systems that lower utility bills.
Open floor plans and modern designs.
A move-in-ready experience with minimal maintenance issues.

New construction properties can command higher rents and maintain lower vacancy rates by offering what tenants demand.

4. Rising Construction and Replacement Costs

The cost of materials for repairs and renovations has soared. New construction has had to deal with the exact cost increase, but renovation projects have become even more costly, equating the time value of money.

New construction advantages include:

New properties are built with durable, standardized materials that are easier and cheaper to maintain.
Investors avoid the costly, time-consuming process of renovating older homes.

5. Insurance Challenges in High-Risk Areas

Insurance premiums have become a significant hurdle for landlords in many regions like Florida and California. Insurers are scaling back coverage or exiting markets entirely due to increased natural disaster risks. According to Reuters, some homeowners in Florida saw premiums increase by over 60% from 2019-2023. ( Reuters ).

Why new construction is resilient:

Built to withstand natural disasters with hurricane-proof windows and elevated foundations.
Lower insurance costs and reduced risks make these properties more viable for long-term investments.

6. Energy Efficiency: A Win for Landlords and Tenants

Rising energy costs are driving demand for energy-efficient homes. Investing in new construction homes offers significant energy savings compared to older homes. According to the U.S. Department of Energy, LEED-certified homes use 20% to 30% less energy than non-green homes, with some homes achieving up to 60% savings.

Benefits for investors:

Attract environmentally conscious tenants.
Qualify for tax incentives and rebates.
Reduce operational expenses over the long term.

Invest in New Construction for Long-Term Success

From lower maintenance and insurance costs to tenant demand for modern amenities, new builds offer a strategic edge in today’s challenging market. Whether you’re a seasoned investor or just starting your journey, new construction rentals provide a path to profitability and peace of mind.

Source: Bigger Pockets Blog

8 Tips for Finding a Bargain-Priced Home

Mon, 03 Mar 2025 16:53:37 GMT

No matter what your local housing market is like, there are always strategies for finding cheaper homes. Here are eight of them.

While it may feel like finding a deal when buying a house is far from achievable, there are strategies that tend to help raise your chances of finding an affordable home, even in a challenging market.

We spoke with expert buyer's agents to learn some of the best housing market hacks for finding lower-priced houses. Be sure to talk to your own agent to learn what approaches might work best for your goals and budget.

1. Look for homes that have been on the market for longer than 30 days

There are deals to be had in houses that have been on the market for a few weeks. Hao Dang of the Hao Dang Team in Bellevue, Washington, says he tells buyers looking for a more affordable house to start with properties that have been on the market for as little as 15 days. “For every 15 days, we can usually negotiate 2% to 3% off the purchase price,' he says. “Once it hits the 30-day mark, sometimes we can negotiate 5% to 10% off the price.'

“For every 15 days, we can usually negotiate 2% to 3% off the purchase price. Once it hits the 30-day mark, sometimes we can negotiate 5% to 10% off the price.”

2. Stay away from turnkey homes and extreme fixer-uppers

You can save money by buying a house that's not 100% move-in ready and doing a little work yourself . A bit of sweat equity can increase your buying power. But don't go for a house that needs a gut reno unless you have a separate stash of cash saved for the work.

Home renovations are much more expensive, difficult and time-consuming than they appear on HGTV. With inflation pushing up prices for everything from lumber to labor, you might spend more than you planned to fix up a project house that looked like a bargain.

The sweet spot, budget-wise, is a home that's between those extremes. Look for a middle ground with a home that needs a little TLC, not a total rehab. Keep an eye out for homes with no structural issues that need a little cosmetic work like removing popcorn ceilings, laying new carpet or repainting too-bright interior or exterior colors.

3. Shop lower-priced alternatives to traditional single-family homes

Sure, a single-family home with a yard is the official American Dream for many. But there are alternative ways to buy a home . Consider buying a condo , co-op or townhome where you share a wall with neighbors. Or think about multi-family homes that allow you to split the homeowning costs with others. You could team up with friends to buy a home and pool your money for the mortgage, down payment and cost of upkeep. Or, you could buy a duplex or triplex, live in one unit and use the rent from the others to help pay the mortgage.

Another option is an accessory dwelling unit , also called an ADU or a mother-in-law suite, that shares a yard with a main house. ADUs have become popular in dense cities with no raw land to build more houses. They're a good pick for first-time homeowners who don't need a lot of space or empty nesters. Check out manufactured homes , too, which have come a long way from the days of the ugly doublewide and evolved into affordable homes with design cred.

4. Look for homes with less desirable features

Your dream home may not be a 1960s split-level with a galley kitchen by a cemetery or a 1970s ranch house with a conversation pit near a busy road. But you can get more for your housing dollar if you accept a house that is, well, off-trend and not in the perfect location.

Buying a house that is a bit less desirable can help you get into a neighborhood that might otherwise be out of your price range. Buying the worst house on the best block is a time-tested way to find a place to live without blowing your budget. Be sure you're OK with the location you pick because you cannot change it. The 24-hour convenience store that will be your neighbor and helped push the house price down $20,000 isn't going away once you close.

5. Consider putting an offer on a contingent house

In real estate, contingent homes mean the seller has accepted a buyer's offer, but the sale won't go through until certain criteria are met. Guess what? Contingent home deals can fall through. If financing falls through, the appraisal comes in low or the home inspection turns up a surprise, the house may go back on the open market. If you have a backup offer in place, it may go to you.

You'll have to move fast if a contingent deal falls through and the house drops into your lap, but you'll not have as much competition for it. That's because most buyers scroll past a listing marked 'contingent' because they don't know they can make an offer. You might be able to swoop in and get a deal.

6. Look at foreclosure auctions

If a homeowner cannot pay their mortgage and defaults on their home loan, the lender can put it on the market as a foreclosure . These houses are listed publicly by city, county or state agencies, depending on local law, and sold at auction where you can pick up a deal. You should hire an agent specializing in foreclosures who can walk you through the buying process.

7. Understand that the highest offer doesn't always win

Don't walk away from a house with other bidders because you figure there's no way you'll have the cash to make the highest offer. Sometimes the high offer falls through, and sometimes sellers are looking for something other than top dollar — like flexibility on when they move. “I've had sellers work with buyers on the price if the buyer would let them stay in the home while they find another place to live,' says Metalios.

Metalios has done deals where the seller stayed in the house up to 10 months after the deal closed. “A buyer who can be patient with timing is often more desirable to a seller. That gives the seller time to figure out where they will go without pressure. Perhaps they could have gotten more money on the open market but to (the seller), being able to move on their timeline was more important.'

8. Don’t forget to explore government-sponsored loan programs

This tip won't help you find cheap houses per se, but it may help make your mortgage payment for your home more affordable. There are a range of local and federal government programs aimed at helping first-time homebuyers, public service workers, veterans and low-income earners. The U.S. Department of Housing and Development (HUD) offers a slew of programs to provide affordable housing.

HUD has a list of programs in every state to help homebuyers. Some offer lower interest rates, and others offer financial assistance with down payments or closing costs. For example:

The U.S. Department of Veterans Affairs (VA) helps veterans secure a competitive interest rate through commercial lenders.
Check out the Good Neighbor Next Door program , which will match up to 50% of a home's listing price for teachers, firefighters, EMTs or police officers in certain communities deemed revitalization areas .
The U.S. Department of Agriculture offers Rural Development home loans for people buying single-family homes in rural areas. Qualifying home buyers can buy or build a home with no money down.

Some cities offer home ownership help ranging from down payment assistance to closing cost assistance. For example, Atlanta offers $10,000 towards the down payment and closing costs for buyers within the city limits who meet income requirements. Seattle offers up to $55,000 in down payment assistance. Visit hud.gov/buying/localbuying for a list of what types of down payment assistance programs and other resources are available at the state level.

Source: Zillow

The Secret To Selling This Spring: Start the Prep Work Now

Mon, 17 Feb 2025 17:20:33 GMT

Spring is the busiest season in the housing market. It’s the time of year when buyers are most active – that means it’s when homes sell faster and for top dollar. If you’ve already got a move on your mind, why not list this spring and take advantage of the added buyer demand ?

Since spring is just around the corner, now’s the time to start getting your house market-ready. You’ve got just over a month to do the prep work. And while that may sound like a decent amount of time, it’s going to go by quickly. And you won’t want to rush through this important task – especially this year.

The Right Repairs Will Matter More This Spring

Right now, two things are true. There are more homes on the market than there have been in years. And buyers are being extra selective. That combination means you need to invest some time and effort in making strategic repairs . And many homeowners already have a jump on this work.

In the 2025 Outlook for Home Remodeling , Carlos Martin, Director of the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University , explains :

“. . . homeowners are slowly but surely expanding the pace and scope of projects compared to the last couple years.”

And the most common projects they’re tackling are replacing water heaters, HVAC units, and flooring. Energy efficiency is a key consideration too, based on home improvement data from the Census.

What To Prioritize as You Plan Ahead

But just because that’s what other homeowners are doing, it doesn’t mean that’s what you have to tackle. Think about what you’d want to see if you were a buyer. Focus on quick wins that are easy to knock out with the time you have – but, don’t ignore key repairs, especially ones you think could turn off buyers.

While big-ticket items like replacing an old roof or outdated flooring may seem daunting, they can pay off – especially if you focus on projects with the best return on investment (ROI).

An agent’s expertise is key in narrowing down your list to what’s actually worth it. They know what buyers in your area want and they also have data like this report from Zonda to guide you on which updates have the best ROI ( see green in the graph below ):

That’s why it’s so important to talk to a local real estate agent before you dive into any repairs. Bankrate puts it best:

“As a seller, it’s smart to be prepared and control whatever factors you’re able to. Things like hiring a great real estate agent and maximizing your home’s online appeal can translate into a smoother sale — and more money in the bank.”

It’s not too early to partner with an agent. By starting now, you’ve still got time to space out the work and find any contractors you need to get the job done. If you wait until spring to roll up your sleeves, you risk running out of time – and that means your house may be overshadowed by others who are more buyer-ready.

Bottom Line

If you’re planning to sell this spring, it’s time to start tackling your to-do list. But, before you get started, connect with an agent. That way you can make sure you’re spending your time and budget on projects that’ll pay off in the long run.

Source: Keeping Current Matters

41 housing markets where inventory just tipped in favor of buyers

Mon, 10 Feb 2025 22:56:52 GMT

Among the nation’s 200 largest housing markets, these 41 metro areas now have active inventory at or above 2019 pre-pandemic levels.

While homebuyers and home sellers still see headlines about the housing market being a seller’s market and national home prices reaching all-time highs, a deeper look reveals that several regional housing markets have shifted, giving homebuyers some power.

During the pandemic housing boom, from summer 2020 to spring 2022, the number of active homes for sale in most housing markets plummeted as homebuyer demand quickly absorbed almost everything that came up for sale. Fast-forward to the current housing market, and the places where active inventory has rebounded to 2019 levels (due to strained affordability suppressing buyer demand) are now the very places where homebuyers hold the most power.

At the end of January 2025, national active inventory for sale was still 25% below January 2019 levels. However, more and more regional markets are surpassing that threshold.

Among the nation’s 200 largest metro area housing markets, 41 markets ended January 2025 with more active homes for sale than they had in pre-pandemic January 2019. These are the places where homebuyers will be able to find the most leverage or market balance in 2025.

Many of the softest housing markets, where homebuyers have gained leverage, are located in Gulf Coast and Mountain West regions. These areas were among the nation’s top pandemic boomtowns, having experienced significant home price growth during the pandemic housing boom, which stretched housing fundamentals far beyond local income levels.

When pandemic-fueled migration slowed and mortgage rates spiked, markets like Punta Gorda, Florida , and Austin, Texas, faced challenges as they had to rely on local incomes to sustain frothy home prices. The housing market softening in these areas was further accelerated by the abundance of new home supply in the pipeline across the Sun Belt. Builders in these regions are often willing to reduce prices or make affordability adjustments to maintain sales. These adjustments in the new construction market also create a cooling effect on the resale market, as some buyers who might have opted for an existing home shift their focus to new homes where deals are still available.

In contrast, many Northeast and Midwest markets were less reliant on pandemic migration and have less new home construction in progress. With lower exposure to that demand shock, active inventory in these Midwest and Northeast regions has remained relatively tight, keeping the advantage in the hands of home sellers.

Generally speaking, housing markets where inventory (i.e., active listings) has returned to pre-pandemic levels have experienced weaker home price growth (or outright declines) over the past 24 months. Conversely, housing markets where inventory remains far below pre-pandemic levels have, generally speaking, experienced stronger home price growth over the past 24 months.

Source: FastCompany

Selling vs. Renting Out Your House: Which Is Right for You?

Mon, 03 Feb 2025 17:21:41 GMT

Leaving your current house and moving to another one gives you a few options. While most homeowners choose to sell outright, many opt to keep their old home and rent it out instead. This decision can be influenced by several factors: a strong rental market in your area, the advantage of a low current mortgage rate, or challenges in selling the house at the desired price. If you’re wondering whether to sell your house or rent it out, there are a few things to consider.

Key Takeaways

The answer depends on your circumstances, your housing situation, and your current finances.
Selling your house may be the right option if you need the proceeds to purchase your next home or could make a profit.
Renting out your house may be the right choice if you’re planning to live in your home again, have a low mortgage rate, or are looking for more income.

What are the rental prices in the area?

Does it make sense to rent your house? In some locations, rental prices can easily cover your mortgage payments. Depending on how much you have left on your mortgage or if you have a low mortgage rate, the rental income from your old house may cover the monthly payments, plus homeowners insurance and property taxes you pay. However, if you’ve recently purchased your house and are looking to rent it out, your mortgage payments may be too high for a lease to cover them.

Take a look at houses that compare to yours with regard to size and location. This should give you a ballpark figure on what price your house can lease for. If you aren’t on a tight timeline to leave your current home, take notice of how quickly similar houses in the area take to lease. If rental properties stay empty for more than a few weeks, you may have trouble finding consistent tenants.

A real estate agent can help match you with a tenant or give you an idea of your rental prospects. They can also give you insight into whether your location is desirable for tenants. For instance, if it’s near a university or larger employer, you may be able to rent to students or to employees who relocate for that large employer. However, if the house is far from the city center, or you’re located in a residential neighborhood, you may have trouble finding tenants.

Do you need equity from your current home?

Why are you leaving your old house? Are you purchasing a new home? If you’re planning to upgrade to a larger home, you may need the money from the sale of your old one to place a down payment on your new house. If you have enough equity in your current home, it may make more sense to sell the house instead of renting it.

If you’re able to afford the down payment on your new home without selling your current one, usually about 20%, then renting out your old one makes sense.

What is the market like in your area?

The housing market isn’t consistent across the country, and even different parts of larger metro areas may be more or less robust. If the current market is slow and you think you can sell your home for a higher price in a few years, then it may make sense to rent the house until housing prices rise again. However, if it’s a sellers’ market and you can get the maximum selling price for your home, then selling it may be the better option. Keep in mind that houses that have been rental properties, often have a harder time selling afterward. You may have more wear and tear in the home if multiple tenants have lived there, which may mean spending more to prepare it to show and sell.

An experienced real estate agent in your area can help you determine the top vales of your home and whether or not the current market can support that selling price. Agents who have been in the area long enough to become familiar with the housing market are in a good position to help you determine the best time to sell.

Will you live in the house again?

Consider whether you plan to live in the house or the area again. You may be in a situation that requires temporary relocation, and you plan to return to the original home in a few years. Having a good tenant to live in the house can ensure that your home stays in good condition instead of sitting empty. You’ll also have income from the rental property and building equity in the old home and your new one.

Do you have the time and money to be a landlord?

For those who are new to investing in rental properties, it may seem easy to rent out their current home and enjoy passive income while paying down their mortgage. However, if this is your first time being a landlord, you may find leasing your property yourself challenging. First, landlords are responsible for making major repairs to the house. Landlords have to fix things like broken pipes, defunct HVAC systems, and structural damage, among other essential repairs. If you don’t have a few thousand dollars on hand to take care of these repairs, you could end up in a bind.

There are specific laws in place to protect tenants, including the landlord’s reliability to make major repairs on the house. In addition, there are certain things that you can and can’t do as a landlord. Being aware of Fair Housing Laws is critical to make sure that you don’t inadvertently violate them.

Do you need a property manager?

A property management company can help vet tenants, collect rents, and arrange for repairs and maintenance on your behalf. A good property management company is also up-to-date on current requirements in your state for landlord obligations. If you’re planning to just lease your house, you may choose to manage the repairs and tenant search yourself, especially if you live nearby. However, if you’re planning to build a portfolio of rental properties, then having one company manage them may be a better option.

Property managers can help ensure that your house or houses stay full, including working with local agents, having open houses for prospective tenants, and quickly running background and credit checks for those applying for a lease. As a passive landlord in this situation, you’re able to free yourself of the obligation for emergency repairs and the time searching for people to live in your rental property.

Consider rent-to-own

Another option when you’re considering whether to sell or rent your house is to engage in a rent-to-own agreement. In these situations, the tenant will place a down payment on the house and make lease payments to you for a specified period. After the lease is up, then the tenant has the option to purchase the home. During the time they’re making lease payments, a portion of those payments will go toward the final price of the house.

This option may work for you if the housing market in your area is stagnant, allowing you to cover the mortgage without entering into a long-term obligation to a rental property. These rent-to-own options can be beneficial for tenants, too, as their financial situation may improve enough over time that they’re able to obtain a mortgage.

What makes a house a good rental property investment?

Does your house have the potential to be a good income property? There are a few things to consider before listing your house for rent. You may have to make some minor repairs and upgrades to your property to attract good tenants who will take care of the house and pay on time. Fresh paint and carpet are usually a must and are required in some areas.

The location of your investment property is one of the most important things in determining whether you’ll have steady tenants or be responsible for covering the mortgage out of pocket if the house sits empty. The home’s location can easily make the difference between having a steady tenancy and losing money on the rental property.

Final thoughts on renting or selling your home

Deciding whether to sell your house or rent depends on carefully analyzing the area and the property’s desirability. Will the area be in high demand for renters, or is it likely that you’ll struggle to find tenants? You’ll also need to take a look at your finances and determine if selling or renting will give you the best return on your investment. Choosing the right real estate agent to advise you in this process can help you answer your question of whether to sell or rent your house.

Source: Redfin

3 Reasons To Buy a Home Before Spring

Mon, 27 Jan 2025 17:46:37 GMT

Let’s face it — buying a home can feel like a challenge with today’s mortgage rates. You might even be thinking, “Should I just wait until spring when more homes hit the market and rates might be lower?”

But here’s the thing, no one knows for sure where mortgage rates will go from here, and waiting could mean facing more competition, higher prices, and a lot more stress.

What if buying now — before the spring rush — might actually give you the upper hand? Here are three reasons why that just might be the case.

1. Less Competition from Other Buyers

The winter months tend to be quieter in the real estate market. Fewer people are actively looking for homes, which means you’ll likely face less competition when you make an offer. This makes the process feel less rushed and less stressful.

According to the National Association of Realtors (NAR), homes sit on the market longer in winter compared to spring and summer ( see graph below ):

Fewer buyers in the market means you’ll likely have more time to make thoughtful decisions. It also means you may have more negotiating power. According to the Alabama Association of Realtors :

“ A significant benefit of buying a home in winter is the reduced competition. Because of the perceived benefits of spring, many buyers delay the start of their house hunt. As a result, you will find fewer people competing for the same properties during winter. Less demand can translate into more negotiating power as sellers may be more willing to entertain offers or agree to concessions to get a deal closed quickly.”

2. More Negotiating Power

With homes staying on the market longer, sellers may be more willing to negotiate. This can lead to better deals for you as a buyer, whether that means a lower price or added incentives, like sellers covering closing costs or making repairs. As Chen Zhao, an Economist at Redfin , points out :

“. . . buying during the off season means less competition from other buyers. That means potentially negotiating a better deal. ”

Plus, when demand is lower, sellers often feel more pressure to work with serious buyers. This could give you an edge to negotiate terms that work best for your situation.

3. Lock in Today’s Prices Before They Rise

Historically, home prices tend to be at their lowest point in the winter months, too. According to data from NAR, home prices last year were at their lowest in January, February, and March — right before the spring buying season kicked in ( see graph below ):

This trend isn’t new — Bright MLS shows between 2010 and 2024, home prices in January and February were, on average, 15% lower than during the month of peak home prices (typically June). Buying in the off-season means you’re more likely to avoid paying the premium prices that come with the high demand of spring.

On top of that, home prices generally appreciate over time, meaning they tend to go up year after year. That means if you’re ready to buy and you can make it happen, you’re not only taking advantage of what might be the lowest prices of the year, but you’re also locking in today’s price before it increases in the future.

Bottom Line

While spring may seem like the obvious time to buy, moving before the peak season can give you significant advantages, like less competition, more negotiation power, and lower prices.

If you’re ready to explore your options, a local real estate agent is there to help.

Source: Keeping Current Matters

Buying and Selling a House at the Same Time: Where to Begin

Mon, 13 Jan 2025 18:10:39 GMT

Buying a new home while selling your current one is a balancing act. Here are some practical tips to help you succeed as both a buyer and seller.

Buying a new home at the same time as you’re selling your old home is all about timing — and some luck, of course. And while you can’t control everything that happens during the complicated buying and selling process, there are some things you can do to set yourself up for smooth closings — maybe even on the same day!

Consider this key information on how to buy and sell a house at the same time.

Evaluate the local housing market

The state of the real estate market in your area is often the biggest factor in timing your home purchase and sale correctly. Knowing what kind of market you’re in is important whether you’re just moving across town, or if you’re moving across the country. If you’re selling in one market and buying in another, you’ll need to factor that into your timing. The length of time it takes to buy and sell can vary dramatically depending on the local real estate scene.

What is a buyers market?

In a buyers market, there are more homes available than people looking to buy. In a buyers market, you’ll likely have an easier time finding your new home than you will selling your old home. Sellers may be willing to accept a contingent offer, which means you agree to purchase their home contingent on selling yours first — more on that later.

What is a sellers market?

In a sellers market, there are more buyers in the marketplace than there are homes available. In a sellers market, your current home will likely sell more quickly than you’ll be able to find a new home. Consider asking your buyers to do a rent-back after closing to allow you time to find your new place.

If you’re in a... What to do

Buyers market Make an offer with a sale contingency

Buyers market Request an extended closing

Sellers market Make an offer with a settlement contingency

Sellers market Ask for a rent-back agreement

Choose an experienced real estate agent

Buying and selling at the same time can be complicated and at times overwhelming, so it’s helpful to have a pro by your side. An experienced local agent will not only be able to help you determine the market value of your home, but they’ll be able to talk you through timing, strategy, and negotiation.

An agent can guide you to a listing price

In addition to answering questions about process and helping you negotiate, one of the most important roles your agent plays is to help you find the perfect listing price — one that will help you sell on your desired timeline and for enough money to help you take that next step. They’ll use their local market expertise and comparables to inform the price.

Remember to interview

Don’t just go with the very first real estate agent that comes your way. Especially when you’re buying and selling at the same time, it’s important to give your business to a true professional, one who can really help you make smart decisions. And, if you’re buying and selling in the same market, consider using the same agent for both transactions to help streamline communication.

Understand your finances

After you’ve chosen an agent and gotten a feel for your local market, it’s time to know your numbers. Reach out to both your mortgage lender and your financial planner to see what’s feasible based on your financial situation. The amount of liquid cash, the amount of equity in your home, and the loan products you qualify for can all factor into which path you take.

Determine your home’s likely resale value

Part of researching your equity is knowing how much your house will reasonably sell for in the current market. Consider completing a pre-inspection so you know how much work needs to go into your house before selling, or the types of concessions you’ll have to make to a buyer to cover those repairs.

Know how much equity you have in your home

If you’re selling a house with a mortgage, do some initial research to find out how much equity you have — meaning the amount left over when you take the current market value of your home and deduct what’s remaining on your mortgage. Also, consider if you’d be able to purchase without tapping into that equity. Remember, the equity you have in your home won’t be accessible until after the sale closes.

Buying a house before selling

If you choose to buy a second home before selling your current home, here are some ways to make it happen:

Make an offer with a sale contingency: In this scenario, you’ll focus on finding a new home before you list the old one. Once you find a house you love, you’ll submit your offer with a sale and settlement contingency, which means you’ll buy the home only if you can successfully sell your existing home. Typically, the sellers of the home you’re buying are still allowed to seek other offers. Contingencies typically work best in buyers markets, when the seller is less likely to get another offer.

Request an extended closing: If you’re confident that your existing home will sell in a short period of time, you can request to extend the closing date of your new home, past the standard 30-45 days. This will give you enough time to sell your current home and use your home equity to buy another house. Just like with contingent offers, you’re more likely to have success with this strategy in a buyers market.

Purchase with savings: If you’re in the financial position to do so, the simplest route is to use your savings to pay your new down payment, then sell your old home after the dust settles. Keep in mind that you’ll also need money to cover closing costs, inspections, and moving expenses.

Purchase with a HELOC: A HELOC, or home equity line of credit, allows you to borrow against the equity in your current home. If you qualify, you could use a HELOC to access money for your down payment, then pay it off when your home sells.

Purchase with a bridge loan: A bridge loan is a short-term loan offered by a bank to cover your down payment, just until your sales close. Make sure to talk to your banker about this option early in the process, because not all banks offer this product and it can be hard to qualify.

Rent out your first home: If you don’t need the money from your first home to make your down payment on the new home, you could always find renters for your old home, which would allow you to cover the mortgage costs while delaying the need to sell at the same time as you’re buying.

Pros of buying before selling

You have somewhere to move right away .
You only have to move once, which allows you to save money on storage units or temporary housing costs.
You’re less pressured to make quick buying decisions, as you can always stay in your current home a little longer if you don’t find a property you love.

Cons of buying before selling

You may feel rushed to sell, which may lead you to take a lower offer than you would otherwise.
Contingent offers are less competitive, especially in fast-paced markets.
You may not have enough cash to make a competitive offer if your money is tied up in your current home.
If you decide to rent out your current home, being a landlord isn’t always a walk in the park. And, when you do decide to sell, it can be a challenge to sell while tenants are living in the home.

Selling a house before buying

If you’ve decided to sell your current home first, here are some steps you can take to make the process a bit smoother.

Make an offer with a settlement contingency : In this case, you’ll list your house first, then once you have an offer in hand (but before closing), you start looking for your new digs. When you find a house you love, you’ll submit an offer with a settlement contingency, which means you’ll buy the home contingent on the sale of your existing home closing. This works best in a seller’s market, where you can expect to receive offers on your existing home fairly quickly.

Find a temporary rental to live in: Yes, you’ll have to move twice, but sometimes closing one sale before starting another one can be the least stressful option, as it takes the pressure off the timing and gives you the time to find a home you really love.

Sign a rent-back: A rent-back provision is when you go through with the sale of the home, with the agreement that you can rent the home back from the new owners (and keep living in your home) for one or more days. This option can give you more time to shop for your new home, while still giving you access to the money from your sale. Keep in mind that this option works best in a sellers market, where buyers have to be more flexible with contract terms in order to get the home they want.

Pros of selling before buying

You know exactly how much equity you’ll have available to put toward your new home.
You can easily roll your existing equity into the new purchase.
It can be less stressful to close the book on one chapter before focusing on your next move.

Cons of selling before buying

You’ll likely have to find a temporary living situation.
Storage and double moving costs can add up.

Source: Zillow

Should you close vents in unused rooms?

Mon, 09 Dec 2024 22:10:19 GMT

When it comes to saving energy and cutting heating or cooling costs, many homeowners think closing vents in unused rooms is a smart move. However, doing so can lead to bigger system problems and a rise in energy bills.

This seemingly logical practice to close vents in rooms not in use can backfire, leading to energy inefficiency, higher bills, and even damage your heating, ventilation and air conditioning (HVAC) system.

Our HVAC experts reveal why you shouldn’t close vents in unused rooms – and what you should be doing instead. By knowing how to run and clean your HVAC system , you'll manage your home's climate efficiently.

Should you close vents in unused rooms?

In short, no. Your HVAC system is designed to distribute air evenly throughout your home and closing vents in unused rooms disrupts this balance, and could cause a number of potential problems.

Andrew Hulsebos, lead service director at HVAC experts Reiner , has been in the industry for 15 years. He explains, 'When you close vents in unused rooms, airflow becomes unbalanced which creates additional pressure in the duct work.

'Most HVAC systems are designed to heat or cool the entire home, so blocking off sections can force the system to work harder to maintain the overall temperature, often making it less efficient, rather than more. This extra strain can lead to higher energy consumption, increased wear and tear on the system, and potentially even reduce its lifespan.'

Though several issues can occur, Josh Mitchell, HVAC technician and founder of Air Conditioner Lab , explains the most common:

Increased pressure in the ductwork : Closing vents can raise pressure in the system by as much as 20%, which strains your HVAC system. Duct leaks are already a common problem, with studies showing that as much as 30% of conditioned air can be lost through leaks. So, raising pressure makes leaks and energy waste worse.
Reduced system efficiency : HVAC systems need balanced airflow to function at their best. When that balance is disrupted, the blower has to work harder to maintain temperatures, which means the system runs longer, uses more energy, and costs more to operate. This can reduce efficiency by up to 15%, increasing your monthly energy bill.
Increased wear and tear: If your HVAC system consistently has to push against higher pressure, it’s more likely to wear out sooner. Over time, this means repairs – in the long run, it can even shorten the system’s lifespan.

Mitchell adds, 'Overall, you can see why closing vents in unused rooms can create more issues than it solves.'

Rather than closing vents, focus on optimizing your HVAC system for efficiency. There are several ways to do this, including using vent deflectors, changing your filters regularly, using air purifiers, improving your insulation, installing smart thermostats, and opting for a zoned heating system. Head of Solved, Punteha van Terheyden ran her heating on a constant temperature for months and saved hundreds in energy bills .

1. Use vent deflectors

Vent deflectors are a good way to affect the airflow in your home without closing any vents. Mitchell says, 'Vent deflectors are a simple and budget-friendly option that maintains system balance, helping to divert air away from unused areas or into areas that need more warmth or cooling.' Mitchell recommends the Thermwell HD5 Heat and Air Deflector, available from Amazon , which comes in packs of four.

2. Change filters often

Changing air filters regularly can greatly improve your system's effectiveness. Adam Ross, owner of Florida-based HVAC experts Aircon Repair , says, 'It is crucial for homeowners to change their air filters every 90 days to improve flow and avoid contaminants in the air. 'People often don't realize that clean filters help you save money by preventing your AC system from getting overworked, which leads to higher energy consumption. It also prevents overheating or freezing – and costly, unnecessary repairs.' Though options will depend on your specific air conditioning system, Ross recommends this Filterbuy MERV Air Filter from Amazon , which is compatible with several common models including Trane Perfect Fit, and American Standard.

3. Add air purifiers

Having one of the best air purifiers can further enhance a filtration system's work around your home. Ross says, 'While air filters help a lot in filtering unwanted contaminants, it may not be enough. This is the reason why we recommend using an air purifier to further remove dust and debris, which reduces the strain on your system, allowing it to function more efficiently. 'Some air purifiers – such as the REME HALO Whole Home In-Duct Air Purifier – also contain UV light that significantly improves air quality indoors by reducing bacteria, viruses, odors and mold spores in the air and on surfaces. It saves a lot of money, not only by reducing energy consumption but also keeping you and your family in good health.' Check out our expert guide on what to look for in an air purifier .

4. Improve insulation

Keeping your home air tight ensures conditioned air does not escape, and prevents unfiltered air from entering. Failing to do so is a common heating mistake that increases energy bills . Ross says, 'Air leaks increase workload on your heating and cooling systems so it is important to seal even the tiniest cracks. Leaks around windows, doors, ducts, and attics allow warm or cool air to escape, causing HVAC systems to work harder to maintain a stable temperature – this increases energy consumption and utility bills. 'Products like caulk, weather stripping, and foam can seal these gaps, boosting HVAC efficiency, reducing energy costs, and extending the lifespan of your HVAC system.' Ross recommends Touch ‘n Seal Gun Foam II Sealant, available from Amazon . He adds, 'It's a high-performance sealant that's got residential fire blocking approval.' Learn more about the areas of your home pros say you should always insulate .

5. Go Smart

Smart vent systems are a great option if you're looking for more control of your home's heating. Mitchell says, 'These programmable vents are a more advanced solution for controlling airflow. Products like Flair Smart Vents, available from Amazon , allow you to adjust airflow in each room based on temperature sensors. Since they’re designed with HVAC systems in mind, they automatically adjust to prevent pressure buildup, which makes them a safer option than manually closing vents.' Ross says, 'Imagine coming home to an already cooled home after a long hot day! Many of these systems can be controlled through your smartphone, which transports control of your whole AC system into your hands.' Ross recommends the Amazon Smart Thermostat , which can be controlled remotely in several ways, including via Alexa or your Ring doorbell. Ecobee Smart Thermostats are also highly popular with our experts thanks to their reliability and slick tech.

6. Zone heating systems

If there's one situation where closing vents is recommended by our experts, it's where a zoned heating system is installed. Mitchell says, 'Zoned HVAC systems are designed specifically to heat and cool areas independently, using dampers that regulate airflow. In these setups, closing vents in unused rooms is actually part of how the system is supposed to operate. 'If you’re considering room-by-room temperature control, zoning can be a worthwhile investment. It lets you control temperatures in different rooms or 'zones' without creating the pressure issues that come with closing vents in standard setups. This can be especially helpful for large or multi-story homes where different areas often need different temperatures.' The Keen Home Smart Vent Pro is a popular zoned heating system with our experts. Controlled via an app, this is one of the more affordable systems on the market that allows for room-by-room temperature control. Check out our guide for more ways to improve ventilation in your home and watch out for these common household items that are polluting your air .

FAQs

Does partially closing vents save energy?

Partially closing vents disrupts airflow and creates unnecessary pressure in your HVAC system. It’s best to leave vents fully open and explore alternative solutions, like programmable thermostats or zoning systems, for better energy management. It's a good a time as ever to check if your home is showing signs it needs vapor barriers installed .

What are signs of HVAC pressure imbalance?

Signs include uneven temperatures, loud airflow noises, or a system that cycles on and off frequently. Addressing these issues quickly can prevent further damage and improve your HVAC system's performance.

Do vent covers help save energy?

Magnetic vent covers can help temporarily redirect airflow but won’t address the root cause of inefficiency. For long-term energy savings, consider upgrading your HVAC system or improving insulation in your home. So there you have it – HVAC pros reveal you should not be closing vents in unused rooms unless you have a zoned temperature system and shared what to do instead. Closing vents in unused rooms may seem like a quick fix, but it’s more likely to harm your HVAC system and increase energy costs. By focusing on smarter solutions, you can save money while maintaining comfort and efficiency throughout your home.

Source: Homes & Gardens

12 Winter Home Improvement Projects That Pay Off

Mon, 02 Dec 2024 20:20:10 GMT

Whether you’re aiming to fortify your home against the elements, modernize key areas, or simply elevate its overall ambiance, these projects are sure to inspire.

Redfin’s list of winter home improvement projects goes beyond the usual suspects, offering practical and unique upgrades that resonate with the season. Read on to explore 12 projects you can tackle this winter.

1. Attic insulation upgrade

Winter is the ideal season to enhance your home’s energy efficiency by upgrading attic insulation. This project helps regulate indoor temperatures, keeping your home warmer and reducing heating costs. While costs may vary, investing in high-quality insulation can typically range from $1,500 to $2,500 . The long-term benefits include lower energy bills and the potential for increased property value.

2. Landscaping enhancements

Winter is an opportune time to plan and implement landscaping improvements. While the garden may be dormant, adding features like walkways, outdoor lighting, or even planting evergreen shrubs can boost curb appeal. Costs vary widely based on the scope of the project, but a well-executed landscaping upgrade can make your home stand out, come spring time.

3. Smart thermostat installation

Upgrade your home’s heating system by installing a smart thermostat. This winter home improvement project, which usually costs between $200 and $300, allows you to control your home’s temperature remotely, leading to energy savings and increased comfort. Winter installation is convenient, with fewer demands on HVAC professionals and the added benefit of immediate energy efficiency improvements.

4. Kitchen cabinet refinishing

Give your kitchen a facelift without breaking the bank by refinishing your cabinets. This cost-effective winter project can be completed for under $500. Refinishing cabinets is a quick and efficient way to modernize the heart of your home, even if you have a tight budget.

5. Basement waterproofing

Protect your home from winter’s harsh elements by investing in basement waterproofing. This essential improvement can prevent water damage, mold growth, and structural issues. While costs may range from $2,000 to $6,000, the long-term benefits often outweigh the initial investment. Winter is a great time to start this project as it tackles potential vulnerabilities ahead of spring rains, ensuring a dry and secure basement.

6. Ceiling fan installation

Improve both aesthetics and energy performance by installing ceiling fans in key rooms. This affordable winter project helps distribute warm air more effectively in the winter and cool air in the summer. The energy savings, combined with the visual appeal of stylish ceiling fans, make this an easy and cost-effective improvement.

7. Window replacement

Upgrade your home’s energy performance by replacing old or drafty windows . New windows not only improve insulation but also enhance natural light, aesthetics, and soundproofing. The energy savings and improved comfort make this project a wise choice for homeowners struggling with expensive electric bills.

8. Bathroom fixture upgrade

Revitalize your bathroom by upgrading fixtures such as faucets, shower heads, and lighting. This relatively low-cost project, usually ranging from $500 to $1,500, can instantly modernize the space and improve functionality. Upgraded fixtures not only enhance your daily routine but also contribute to a more appealing and comfortable home.

9. Flooring refinishing

Give your home a fresh look by refinishing the flooring in high-traffic areas. Whether you have hardwood, laminate, or tile floors, this project can cost between $1,000 and $3,000, depending on the materials. Refinishing not only restores the beauty of your floors but also adds durability, making it an investment that can pay off in terms of aesthetics and functionality.

10. Smart lighting system installation

Enhance your home’s functionality and energy performance by installing a smart lighting system. This winter home improvement project, which can cost between $500 and $2,000 depending on the complexity, allows you to control lighting remotely. Additionally, the convenience and energy savings make this a modern and attractive feature for many homeowners.

11. Crawl space encapsulation

Crawl space encapsulation stands out as a key project to safeguard your home in the colder months. The process involves sealing the crawl space beneath your home to create a barrier against moisture, pests, and potential issues that could compromise your home’s structural integrity. Winter proves to be an opportune time for crawl space encapsulation, primarily because the drier air allows for efficient installation and curing of materials. By addressing this project during the colder months, you can fortify your home against the impending challenges of spring rains and thawing snow.

12. Fireplace upgrade

Make your living space more cozy and appealing by upgrading your fireplace. This can involve refacing the fireplace, adding a new mantel, or converting to a more efficient gas or electric model. A stylish and functional fireplace can be a focal point in your home, adding both aesthetic value and charm.

Source: Redfin

Are You Too Young to Buy a House?

Mon, 25 Nov 2024 19:29:26 GMT

Owning a house is often a symbol of financial security. However, purchasing a home requires a young buyer to navigate new financial hurdles and lifestyle commitments. The process can be daunting if you’re trying to balance rising housing costs with a new career and obligations like student loan debt.

If you’re ready to start house hunting, this article will help put you on the path toward homeownership.

Is There a Minimum Age for Homeownership?

In most states, you must be 18 to own a house. In Alabama and Nebraska, you must be 19, and in Mississippi, you must be 21.

Someone younger could technically have their name put on a home title, such as in the case of inheritance. However, most states don’t allow minors to own, manage or sell a home until they reach the age of majority.

What Is the Average Age to Buy a House?

The median age of first-time homebuyers has reached an all-time high of 38, according to the 2024 Profile of Home Buyers and Sellers from the National Association of Realtors (NAR).

That’s roughly a decade older than the average age in the 1980s when most first-time buyers were in their late 20s.

Overcoming Financial Hurdles: Challenges for Young Homebuyers

These are the common obstacles that young homebuyers may face when trying to break into the real estate market.

Down payment and closing costs: Many buyers can put down as little as 3% to 5% to secure a home loan. However, a down payment and closing costs can pose a significant barrier to entry for young people. The Federal Reserve Bank of St. Louis indicates that the median home price in the U.S. is $420,400, which means a 3% down payment would be $12,612.
Your credit score: Regardless of age, one of the most significant challenges to homebuying is getting a good interest rate. A low interest rate will hinge on a good credit score , which takes time to build. Many young people may only just be opening their first credit cards in their late teens and early 20s. A short credit history can also hinder a lender’s willingness to issue a mortgage.
Debt-to-income ratio: A young person who is just starting their career may not have a very high salary and could still have personal, student or car loans to pay off. Lenders will want to see a good debt-to-income ratio when providing a mortgage.

Advantages of Being a Young Homebuyer

Purchasing real estate at a young age has many benefits, including building equity in your home and the potential for its value to appreciate over time.

The Financial Benefits of Early Homeownership

Real estate is an investment that reliably appreciates over time. Those who buy young can often build more equity over the lifetime of their investment.

“Every time you wait to buy, there is a gap in pricing,” explains Nikola Cejic, a real estate agent in East Hampton, New York , who purchased his first home while in high school. “Those who wait keep chasing the market and falling behind.”

Homeowners are eligible for more significant tax advantages than renters. They can often write off home-related expenses, including state and local real estate taxes and home mortgage interest.

Buying a Home Is a Long-Term Investment

Real estate is America’s favorite long-term investment, according to Gallup. Compared to stocks or gold, it continues to be the primary way Americans invest. Investing in a home also gives you a tangible asset to pass on to future generations.

NAR research reveals similar findings in its 2024 Profile of Home Buyers and Sellers:

79% believe a home purchase is a wise investment
39% said buying a home is better than owning stock

Predictable Costs: The Stability of Mortgage Payments

Unlike rent, your mortgage payment will be the same every month for the life of the loan. NAR indicates that 91% of first-time buyers finance their home purchase, and a mortgage is often the most costly payment an owner will make. As a result, many people find value in knowing exactly what they’ll pay every month.

However, some hidden costs of homeownership will continue to rise. These include utilities, property taxes, homeowners insurance and maintenance. Residents of homeowners associations may also see their fees increase over time.

Life Planning

Buying a home is often considered an excellent financial investment, but it’s also an investment in your lifestyle. Many homeowners prefer to own simply because it allows them more control over their residence, from paint and interior design to building a shed in the backyard. A home can also provide a sense of stability for families.

Potential Drawbacks for Young Homebuyers

While buying young can have significant financial benefits for those who can afford it, it’s common for young people to experience uncertainty in the future.

Financial Strain: A Major Hurdle for Young Homebuyers

It’s very common for young people to experience financial hardship. For those who pursue a degree, the average federal student loan borrower has over $37,000 in debt. On top of that, those who are new to the workforce typically have not reached the salaries of those 10 or more years into their field.

The upfront costs associated with homebuying, including the down payment and closing costs, are often cited as the most significant barrier to entry. Additionally, being a homeowner means you are on the hook for any maintenance required on the property.

“You have a lot more maintenance to manage, whether that’s hiring someone or doing it yourself,” says Nikki Taylor Friedman, a real estate agent in Huntington, New York , who purchased her first home at age 25. “In addition to the mortgage payment, there are additional costs. You’re going to have to pay for wifi and utilities wherever you live, but when you own you have to pay for the landscaping, painting and staining, if a window breaks – those things are your responsibility.”

Lifestyle Limitations: The Trade-offs of Early Homeownership

Buying a home ties you more closely to a specific geographic area. If you’re seeking a new job opportunity, relocating may be more challenging as you’ll need to either rent your home or prepare it for sale .

Uncertainty of the Future

Young people commonly don’t have a clear understanding of what their future holds.

“If you’re looking to purchase and you’re not sure what your life is going to look like in five years, maybe buying a big single-family home is not the ideal situation for you,” Friedman says. “But there are many ways to look at it. Can you sell and make a profit? We’ll never know what the market will look like five years from now, but we can look at the history of the cycle and determine whether or not this is going to be a good long-term investment for the buyer.”

Are You Ready to Buy a Home?

Ultimately, whether or not you’re too young to purchase a home has more to do with financial and lifestyle readiness than age alone.

Financial Stability

Thoroughly evaluate your finances before starting the search. You must understand your income, debt-to-income ratio, credit score and savings if you plan to buy a home.

“You don’t want to be cash poor and on-paper rich,” Cejic says. “You don’t want to overextend yourself.” He suggests that your fixed monthly expenses should not exceed 33% of your income. This includes the monthly mortgage payment, insurance and property taxes, as well as any outstanding debt, such as student and car loans. Having three to six months of living expenses in savings is also wise.

Lifestyle Considerations

Consider your lifestyle and what you want in a home before starting your search. This includes factors such as location, home type and the number of bedrooms and bathrooms. It also means evaluating whether or not you’re prepared to take on the financial responsibility of homeownership and property maintenance.

If you are in a relationship, you and your partner must discuss your needs and wants and your long-term financial and lifestyle goals.

Speak with the Experts

Purchasing a home is a significant financial decision. Consider speaking with a financial advisor or lender to determine if you’re ready to buy. Familiarize yourself with the steps involved in getting a mortgage . Consult local builders, real estate agents, and trusted friends and family who’ve recently purchased property in the same area.

Don’t Feel Pressure to Buy

There is often external pressure to purchase a home. Sometimes, this comes from family members, but it can also come from peers. You must feel confident in your decision to buy a house. If the desire mostly comes from a need to impress others, it’s worth it to reconsider.

Alternatives to Homeownership

If you cannot afford the purchase price of a single-family home , or it’s simply not the right time, there are alternatives.

Living with family: If you have a family member you can live with, doing so can help you save money to purchase a home in the future.
Renting: Renting is an excellent option if you aren’t ready for homeownership or want to live a more urban lifestyle.
Multi-family residences: If you can’t afford a single-family home, consider purchasing a condominium or townhome .
Buy with a friend: Cejic says, “If you and your best friend have been renting together, why not go in on a home together and put it in an LLC or a trust? It will build equity for you both, then later down the line you can sell and purchase on your own.”

A rent-to-own property is an alternative that buyers will likely not be able to find in today’s housing market. Rent-to-own refers to a legal arrangement where a tenant pays rent to a landlord and can purchase the property later. “Sellers aren’t looking for that option right now,” Friedman says. “They don’t have to rent because they can find a buyer who could buy flat out.”

The Bottom Line: When Do People Buy a House?

Ultimately, the decision to buy a home has less to do with age and more to do with your circumstances and financial goals. While the dream of homeownership can be enticing, it’s crucial to weigh the pros and cons carefully. You must understand the financial implications, lifestyle considerations, and potential challenges to help you make an informed decision.

Source: Homes.com

Myrtle Beach OKs extension for halting new long-term rentals near ocean

Mon, 18 Nov 2024 00:07:43 GMT

Myrtle Beach City Council on Tuesday approved first reading to extend the temporary moratorium established in the spring that halted converting short-term rentals into long-term ones.

The original ordinance passed first reading on April 9 and second reading on May 14. It imposed a 270-day halt on “acceptance, review and approval of applications to convert multi-family short-term rental properties to multi-family long-term rental properties within an area spanning from the east or seaward side of Ocean Boulevard to Kings Highway, and from Grand Dunes Boulevard to the point where Ocean Boulevard and Kings Highway intersect near the south city limits,” the ordinance reads.

The 270-day halt was set to expire in January, according to the ordinance. The extension adds another 60 days to the moratorium.

The council also approved a motion to declare certain vehicles abandoned or derelict in an effort to improve the appearance of both commercial and residential neighborhoods.

“This report includes vehicles staff tagged as abandoned or derelict. Council’s approval allows these vehicles to be towed from their private property locations to a tow yard where they may be reclaimed by the current owner upon payment of the applicable towing and storage fees,” the motion reads. “If the vehicles are not claimed by the owner within 30 days of the required notice, then the tow company may sell the vehicle and keep the proceeds as compensation.”

All four items on the consent agenda passed, including three grants of $110,262, $84,825 and $300,000.

The $110,262 grant comes from the South Carolina Department of Public Safety and is for continuation of Myrtle Beach police’s Project Safe Neighborhoods program. According to the motion, the funds will be used “to support the full-time NIBIN detective dedicated to the acquisition, correlation, analysis, investigation, and prosecution of gun and gun-related crimes.”

The $84,825 grant comes from the South Carolina Attorney General for the Violence Against Women Act. Those funds will be used “to support the hiring of a Police Victim Advocate dedicated to immediately responding to the safety needs of victims of violent crime. This position will allow Myrtle Beach police to provide, enhance, and expand its direct services to primary and secondary victims.”

The $300,000 grant comes from the South Carolina Department of Alcohol and Other Drug Abuse Services and will allow Myrtle Beach police to establish a Law Enforcement Assisted Diversion (LEAD) program.

“LEAD is a pre-booking diversion program that allows law enforcement that allows law enforcement to redirect low-level offenders to community services, including mental health services and drug rehabilitation,” the motion reads. “MBPD will use this funding for two Health Outreach Coordinators and scholarships for participants.”

Before the meeting, proclamations were also made recognizing former Horry County Police Chief Joe Hill, who retired last month, as well as Horry County Administrator Steve Gosnell, who will retire in December. Gosnell was awarded the Order of the Palmetto in September.

Source: WBTW News 13

Ways to Thank Service Members and Veterans

Mon, 11 Nov 2024 18:32:07 GMT

While any time is a good time to thank military members for their service, some military-related holidays and observances are an especially great time to recognize those who took the oath to serve and protect our country.

Looking to show your appreciation for service members and veterans beyond just words? Here are a few ideas.

Acts of Service

Buy a meal. If you see a service member in uniform or recognize someone is a veteran while dining out, picking up the tab for their meal is a nice gesture – and an even better surprise.
Lend a hand. Are you good at carpentry, plumbing, or landscaping? Do you enjoy sewing, cooking, or cleaning? Offer your skills to help a military family in need, especially if a service member is deployed. Using these skills to show your support could ] brighten someone’s day and make life a little easier for military families juggling responsibilities.
Volunteer at a VA hospital or veterans’ shelter. Not every veteran has someone checking up on them, so seeing a friendly face, especially during times of struggle, could mean more than you know. VA medical facilities depend on volunteers to help with various services, including visiting patients, running errands, or helping facilitate recreational activities. In addition, serving meals at a veterans’ shelter or donating goods to food pantries and shelters that serve veterans helps ensure basic needs are being cared for.

Connect With Veteran Networks

Participate in parades and other veteran events. Many cities hold parades and celebration events during military-related holidays, like Memorial Day and Veterans Day. By attending the events, you can show your gratitude in person. Consider joining wreath-laying ceremonies for Memorial Day to honor those who made the ultimate sacrifice, or take your family to one of the many Veterans Day events across the country to show your support.
Check-in with military families. If you know someone or have neighbors with a service member in the family who is stationed away from their loved ones, take time to check in and let them know you’re there to help if needed. The simple gesture will help the family know they have support and give the service member more peace of mind, knowing there is someone nearby to look in on their family members .
Listen to veterans’ stories. If you meet a veteran, take time to connect and learn more about their time in service. You’ll likely be amazed and inspired by their stories. If you’re a company or organization seeking a veteran speaker for an event or fundraiser, programs like Wounded Warrior Project’s Warriors Speak® give warriors and military caregivers a platform to share their stories and raise awareness of the needs of injured veterans.
Donate to a veterans’ charity. One of the easiest and most impactful ways to honor service members and veterans is to donate to a veterans service organization (VSO). Wounded Warrior Project is dedicated to serving veterans and their families by providing a holistic approach to care, including mental wellness , physical health and wellness , peer support , financial education , and much more. Supporting VSOs is a meaningful way to empower veterans to thrive and live their lives to the fullest.

Send a Military Care Package

Another way to thank active-duty service members is to send a military care package. Even during peacetime, there are things service members stationed in the U.S. and abroad can use and enjoy. It also doesn’t hurt to get an unexpected gift and reminder of home when you’re away from family.

Here are some ideas on what to send in a military care package:

Toiletries: Items like deodorant, soap, shampoo, and razors are always needed and appreciated. Costs for these little things can add up, and they are necessary, whether in the field, deployed overseas, or even at home.
Deck of cards, puzzles, books. Even with all our modern technology, a deck of playing cards is a classic care package item. Books, puzzles, and games can also be a fun way to pass the time on deployment, in the field (if allowed), or at the barracks.
Feminine-hygiene products. Women are the fastest-growing demographic of veterans, and more and more are serving in the Armed Forces. Sending items specifically to women warriors shows them they’re being seen for their service and helps provide much-needed supplies that are often an extra expense for servicewomen.
Snacks. Consider portable snacks like beef jerky, trail mix, or energy bars for warriors in combat zones. For those in basic training or stationed away from home, send local treats or popular snacks that are easy to share. Add comfort items like soup cups, instant coffee, flavored drink mixes, or cookies.
A card or letter. It’s always nice to hear that what you’re doing is appreciated. When sending a note or card in a military care package, include how important the service member’s sacrifice is to you why it matters. Reading these words of support and appreciation can go a long way in brightening someone’s day.

Regardless of how you decide to show your appreciation to service members and veterans, we must never forget the sacrifice members of the U.S. Armed Forces are willing to make for us.

Find out other ways you can help wounded veterans.

Contact: — Paris Moulden, Public Relations, pmoulden@woundedwarriorproject.org, 904.570.7910

About Wounded Warrior Project

Since 2003, Wounded Warrior Project® (WWP) has been meeting the growing needs of warriors, their families, and caregivers — helping them achieve their highest ambition. Learn more .

Source: Wounded Warrior Project

Why Home Sales Historically Bounce Back After Presidential Elections

Mon, 28 Oct 2024 21:58:12 GMT

With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market. Let’s break it down.

Election Years Bring a Temporary Slowdown

In any given year, home sales slow down slightly in the fall. It’s a typical, seasonal trend. However, according to data from BTIG , in election years there’s usually a slightly larger dip in home sales in the month leading up to Election Day ( see graph below ):

Why? Uncertainty. Many consumers hold off on making major decisions or purchases while they wait to see how the election will play out. It’s a pattern that’s shown up time and time again, and it’s particularly apparent for buyers and sellers in the housing market.

This year is no different. A recent survey from Redfin found that 23% of potential first-time homebuyers said they’re waiting until after the election to buy . That’s nearly a quarter of first-time buyers hitting the pause button, likely due to the same feelings of uncertainty.

Home Sales Bounce Back After the Election

The good news is these delayed sales aren’t lost forever—they’re just postponed. History shows sales tend to rebound after the election is over. In fact, home sales have actually increased 82% of the time in the year after the election ( see chart below ):

That’s because once the election dust settles, buyers and sellers have a sense of what’s ahead and generally feel more confident moving forward with their decisions. And that leads to a boost in home sales.

What To Expect in 2025

If history is any indicator, that means more homes will sell next year. And based on the latest forecasts, that’s exactly what you should expect. As the graph below shows, the housing market is on pace to sell a total of 4.6 million homes this year, and projections are for 5.2 million total sales next year ( see graph below ):

And that aligns with the typical pattern of post-election rebounds.

So, while it might feel like the market is slowing down right now, it’s more of a temporary dip rather than a long-term trend. As has been the case before, once the election uncertainty passes, buyers and sellers will return to the market.

Bottom Line

It's important to remember that while election years often bring a short-term slowdown in the housing market, the pause is usually temporary. Those sales are not lost. Data shows home sales typically increase the year after a Presidential election, and current forecasts indicate 2025 will be no different. If you’re waiting for a clearer picture before making a move, just know that the market is expected to pick up speed in the months ahead.

Source: Keeping Current Matters

8 Psychological Traps in Home Buying and How to Avoid Them

Mon, 30 Sep 2024 20:40:42 GMT

Our brains can sometimes trick us into a buying a home that doesn't fit our needs. Following these tips could help minimize buyer's remorse.

If you’ve ever made an impulse purchase, you know what it feels like to have your brain seize up and focus only on the shiny thing in front of you that you absolutely must have. If the shiny thing is a coat you can’t afford, the consequences of overspending to buy it are probably pretty small.

If it’s a home, however, you could end up spending a lot of money on a place that doesn’t fit your needs. It’s one reason why it’s important to be aware of some of the psychological traps that can drive decisions that defy logic when viewed strictly through a lens of rationality.

Those traps can lead to buyer’s remorse, which is surprisingly common among home buyers. According to a Zillow® survey of buyers in 2022, 75% of those who had successfully purchased a home in the past two years had at least one regret about the home they bought. Those regrets ranged from underestimating the amount of yard work, to failing to consider the location of bedrooms.

Here are some common traps and tips for avoiding them.

1) Overconfidence

You find a home online that seems perfect, and spend an hour lingering over the photos and the 3D Home® tour. By the time you arrive for the in-person tour, you’re already in love, so much so that you start minimizing obvious problems. The crack in the foundation? It looks pretty small. The water marks on the bedroom ceiling? Probably just an old leak. And so on. You utter the words “We can fix that, easy” so often that your partner starts to worry.

If that’s you — and you’re not a contractor — you’ve fallen into the trap of overconfidence: being so optimistic that you downplay the possibility that anything negative could happen from buying a home that needs more work than you can reasonably pay for or tackle yourself.

How to avoid this trap

Get a great inspector who can find significant problems in the home, and give you an idea of what it will cost to fix them. Your agent may also have a stable of experts they can call to give you an idea of what might be involved in repairing problems.

2) Neglecting the future you

Let’s say you’re a newly married couple buying your first home. You don’t have kids or pets or a bunch of stuff, so you focus your search on homes that fit your current lifestyle. In doing so, you discount the future, giving more importance to your current needs than what you might need in five years or so.

How to avoid this trap

Think about “future you” and what your life is likely to look like in five years. If pets and/or kids are in the plans, or if a relative will be living with you at some point, factor them into your thinking now unless your plan is to move again to accommodate expected changes in your life.

3) Failing to negotiate

When homeowners list their homes for sale, the listing price typically reflects what they hope and expect to get in the current market. As a buyer, that’s the first number you see and it may determine whether you’ll even consider the home. This trap is called anchoring — a tendency to use the first number or piece of information as the baseline for decision-making. But in certain markets and during certain times of year, it may be possible to negotiate a lower price. In the fall home shopping season, for example, the market is slower and sellers tend to cut prices on homes that have lingered on the market.

How to avoid this trap

Lean into your agent’s local expertise to find out whether price cuts are common in your market. You also can explore whether a seller might be willing to discount the price in exchange for something else they value, such as a rent-back agreement that will give them breathing room to shop for their next home.

4) Acting impulsively

When competition for homes is fierce, buyers need to be prepared to act quickly to make an offer on a home they like. But acting quickly when you’ve worked out your buying budget, determined what’s important in a home, and obtained pre-approval from a lender is not the same as acting out of a sense of urgency solely because homes are in short supply.

How to avoid this trap

Do the groundwork for buying, starting with getting your credit in good shape. Work with your agent and loan officer to understand the market, what you can afford and what home features will best suit your needs.

5) Ignoring information that challenges our beliefs

This is known as confirmation bias, and it involves ignoring information that doesn’t conform with our existing beliefs or putting greater weight on information that confirms what we already believe. For example, if you held firm to a belief that interest rates would drop dramatically this year, and put off buying a home based on that belief, you would be paying an even higher rate today.

How to avoid this trap

Stay up to date on market trends and tap your agent’s expertise. Even experts can’t time the market or say with certainty what’s going to happen to interest rates or home prices. Instead of discounting information that challenges your beliefs, seek it out and factor it into your decisions.

6) Getting stuck in the past

Imagine you’re shopping for a home, and your fond childhood memories are so powerful they prevent you from even considering a different style of home than the one you grew up in. You spend hours in search of the perfect replica, ignoring your partners’ pleas to compromise and at least tour some other homes.

How to avoid this trap

Think about how you want to feel in your home and what you can do to evoke those feelings. It may be that certain paint colors or tile or the layout of a home will be enough to recreate the nostalgia you’re seeking.

7) Fixating on one thing, and losing sight of the big picture

Many of us know the feeling of getting so attached to something that we ignore or minimize some obvious red flags. For instance, you may fall hard for an outdoor kitchen in a home that has a yard requiring a ton of upkeep. You hate yard work, but buy the home anyway, thinking the yard won’t be a big deal — and then find yourself mowing for an hour every weekend. Or maybe you get so fixated on the thought of your kids or your pets having a yard to roam in that you might not fully consider what it might feel like to commute an hour to and from work.

How to avoid this trap

Make a list of what you want — and do not want — in a home before you start shopping, and stick with it. Having a cool outdoor pizza oven or a big yard isn’t going to make you suddenly love yard work or commuting long distances.

8) Moving ahead with a purchase because of the money and time you’ve spent finding it

It can be crushing to find a home, and discover after you’ve written the offer, applied for the loan and ordered the inspections that the home has a flaw that cannot be easily remedied. You may even think that you’ll never find another home after looking for so long.

How to avoid this trap

Take the long view. Imagine living in the home five, 10 or even 14 years from now. Is the flaw going to drive you up the wall? If the flaw is expensive to fix, think about the other things you’ll be giving up to fix it.

Emotions and logic

Home buying can be a struggle at times because it requires us to reconcile our heart and our mind. Giving yourself guardrails and accessing good information can make reconciling both easier.

The great thing about making decisions is that, ultimately, you’re the only person who can know what’s right for you. Trust your gut. If you’ve done all the work — asked the right questions, relied on correct facts, listened to trusted advisors and determined the degree of risk involved — chances are you’re well on your way to moving forward to the next chapter in your life.

Source: Zillow

Homebuyers are gaining leverage in these housing markets

Mon, 16 Sep 2024 19:25:33 GMT

Four states are back above pre-pandemic housing inventory levels—and four more states appear to be next.

When assessing home price momentum, ResiClub believes it’s important to monitor active listings and months of supply. If active listings start to rapidly increase as homes remain on the market for longer periods, it may indicate potential future pricing weakness. Conversely, a rapid decline in active listings could suggest a market that is heating up.

Generally speaking, local housing markets where active inventory has returned to pre-pandemic levels have experienced softer home price growth (or outright price declines) over the past 24 months. Conversely, local housing markets where active inventory remains far below pre-pandemic levels have generally experienced stronger home price growth over the past 24 months.

National active listings are on the rise (up 36% between August 2023 and August 2024); however, they are still well below pre-pandemic levels (26% below August 2019).

Here are the total number of August inventory/active listings over the past eight years, according to Realtor.com:

August 2017: 1,325,358

August 2018: 1,285,666

August 2019: 1,235,257

August 2020: 779,558 (overheating during the pandemic housing boom)

August 2021: 574,638 (overheating during the pandemic housing boom)

August 2022: 726,779 (mortgage rate shock starts)

August 2023: 669,750

August 2024: 909,344

Among the states with the biggest inventory jumps: Florida.

In Florida, the biggest inventory increases initially over the past two years were concentrated in sections of Southwest Florida . In particular, in markets like Cape Coral, Punta Gorda , and Fort Myers, which were hard-hit by Hurricane Ian in September 2022. This combination of increased housing supply for sale (the damaged homes coupled with strained demand—the result of spiked home prices, spiked mortgage rates, higher insurance premiums, and higher HOAs) translated into market softening across much of Southwest Florida .

However, the inventory increases in Florida now expands far beyond SWFL. Markets like Jacksonville and Orlando are also above pre-pandemic levels, as are many coastal pockets along Florida’s Atlantic Ocean side.

One reason being that Florida’s condo market is dealing with the after effects of regulation passed following the Surfside condo collapse in 2021.

So far, four states have returned to pre-pandemic 2019 inventory levels: Florida, Idaho, Tennessee, and Texas.

Based on recent trends, states that will likely soon join that list include Colorado, Washington, Utah, and Arizona.

Why are Sun Belt and Mountain West markets seeing a faster return to pre-pandemic inventory levels than many Midwest and Northeast markets?

One factor is that some pockets of the Sun Belt and Mountain West experienced even greater home price growth during the pandemic housing boom, which stretched too far beyond local incomes. Once pandemic-fueled migration slowed and mortgage rates spiked, it became an issue in places like Boise and Austin.

Unlike many Sun Belt housing markets, many Northeast and Midwest markets have lower levels of homebuilding. As new supply becomes available in Southwest and Southeast markets, and builders use affordability adjustments like mortgage rate buydowns to move it, it has created a cooling effect in the resale market. The Northeast and Midwest don’t have that same level of new supply, so resale/existing homes are pretty much the only game in town.

Big picture: We’re observing a softening across some housing markets as strained affordability tempers the fervor of a market that was unsustainably hot during the pandemic housing boom. While home prices are falling in some areas around the Gulf , most regional housing markets are still seeing positive year-over-year home price growth . The big question going forward is whether active housing inventory and months of supply will continue to rise and cause more housing markets to see outright price declines.

Source: FastCompany

Finding Harmony at Home Through Feng Shui

Mon, 09 Sep 2024 18:20:35 GMT

There are a million different ways to make your house feel like home, from hanging gallery walls, to showing off your hobbies through your décor. Among these many approaches to interior design is a philosophy called feng shui, a practice believed to help cultivate an environment where you feel centered, happy and creative. Feng shui consultant Susan Chan shared tips to help you understand how you can align your home with the natural world and create a nurturing, supportive space.

What is feng shui?

Feng shui is an ancient Chinese art that originally came through India and Tibet about 7,000 years ago. The word “feng” means wind, and “shui” means water. Chan said the meaning behind feng shui comes from the idea that the natural world is a significant source of inspiration for balance and harmony.

“The Chinese believe that nature promotes good health,” she said. “And when you have good health, you can work, and when you can work, you can bring in fortune.”

The point of this philosophy is to create a harmonious environment that will support your wellbeing, from the décor you bring into your house, to the layout of your floor plan. Chan said feng shui emphasizes the importance of aligning your home with the natural flow of energy, also known as chi or qi, to enhance the quality of your life.

Some key tenets of feng shui

Feng shui is all about achieving balance, and there are several ways to do that. Its principles take cues from the natural world to help bring positive energy into your space. Having a clean home and avoiding awkward furniture placement are also among the methods for achieving balance. Let’s take a closer look at the tenets of feng shui.

Chi

In Chinese philosophy, chi represents an energy that flows through all living things, and it's what binds everything, all the way from a universal scale, to individual rooms in your house. To be surrounded by positive chi means to have peace and comfort.

“Ensuring that chi flows freely and effortlessly throughout your home is crucial,” Chan said. This can include arranging your space to encourage good energy circulation (more on how to do that below).

Yin and yang

One aspect of practicing feng shui is balancing opposing forces to achieve harmony. Yin represents slower and calmer energy, while yang represents active and vibrant energy. So you’d want more yin in your bedroom and more yang in your living room, for example.

“A well-balanced home and lifestyle has a mix of both to create a dynamic yet peaceful environment,” Chan said.

The bagua Map

This feng shui tool helps identify which areas of your home correspond to different aspects of your life, such as wealth, creativity, and relationships. It is often laid out in the shape of an octagon, made up of eight wedges surrounding a circle in the center. That center represents the emotional and physical health of the home’s occupants. This map is meant to be layered over your entire floor plan, or even in a single room, so you can design your space to encourage the flow of energy throughout.

“By aligning your space according to the bagua, you can enhance specific areas to make sure your space supports your goals and well-being,” Chan said.

Natural elements

Having a feng shui home layout encourages using natural elements and materials in your décor. Chan said this works to connect you to your environment and allows for a sense of tranquility that may come with being outdoors. There are five elements you can use when decorating: Earth, fire, metal, water, and wood.

Let’s say you want to incorporate water into your home, but you’d rather not have a water fountain inside. You could add a blue accent chair or some art that has flowing shapes instead. Want to include fire, but don’t have a fireplace? Candles will suffice, or even some warm lighting.

Seeing feng shui when choosing a home

Before we go further, it’s important to understand that this philosophy is not just about how you arrange your furniture. Chan said doing so is important for energy flow, but more so, it’s about balancing your space and yourself in the home.

“Another misconception is that feng shui is complicated and requires major changes and a huge financial investment,” Chan said. “Depending on the scope of your goals and project, small adjustments can make a big difference in creating a harmonious environment.”

It’s not uncommon for architects to work with feng shui experts , like Chan, when they’re drawing up blueprints for commercial and residential structures. In fact, she said it goes back a long way.

“In ancient China, people would consult a feng shui expert to select the perfect plot of land, design the blueprint of their home, and guide them through construction and furnishing to align with feng shui principles,” she said.

When you’re looking at a home, or looking at building one, here are some features to keep in mind:

The floor plan

A deeper floor plan is preferred over a wider one, according to Chan. That means a home where the structure extends further back than its width when looked at from the front, as opposed to a house that’s wide and shallow from the same view.

This allows positive energy to be welcomed deeper into your home and increases the likelihood of it staying. If you’re shopping for existing homes, many listings on Zillow have 3D floor plans to give you a better idea of how the energy would flow through your space and whether it's a good fit for what you want. When searching for a home, select the “must have 3D tour” filter.

The ceilings

Ceilings should be at a comfortable height — not too low or too high. You don’t want to feel oppressed by your home, or too disconnected from it. If your head nearly touches the ceiling, that’s not ideal. And if it extends more than eight or nine feet up, then it feels less cozy.

If this is the case for a very large room, like an open-concept living room and kitchen area, then it may feel fine because it’s proportionate. But if your bedroom isn’t overly large, your ceilings shouldn’t be too high, since you’ll lose that comfy feeling.

If your ceilings do feel too high, you could hang something like a chandelier to help give the sense that things are more closed in — just don’t go too low, or else the space will feel too tight.

The bathrooms

It’s best to avoid having a bathroom too close to a bedroom, since bathroom energy is not considered positive. Plus, bathrooms are associated with bacteria, and you don’t want that near an area that should be pleasant.

“By selecting the ideal plot, choosing the best floor plan, making thoughtful construction decisions, and picking architectural details that match the occupants' energy and elements, we can create a home that supports their health and helps them reach their full potential,” Chan said.

Decorating for balance, inside and out

As we said earlier, many feng shui methods essentially ask you to make things feel less awkward in your home: i.e., don’t buy furniture that’s too large for your space (so you won’t have to squeeze around your own home).

Remember, incorporating this practice into your space doesn’t mean you have to rearrange your whole house or spend big. In fact, it may come down to just making some small adjustments.

And don’t forget about the power of nature. Each of the elements mentioned earlier has its own characteristics, and can shape your home’s energy differently. Chan said it’s important to balance them out and avoid oversaturating your home with one over the others. This does not mean you need to have a lot of any of them.

When you’re looking for what types of items to include, Chan said she loves to decorate with mirrors.

“Mirrors, when placed correctly, can amplify positive energy and bring vibrant energy to areas that may lack it,”

Another favorite of hers is plants. She said they’re a nice way to include nature in your home and add some vibrant energy.

The living room

Sofas serve as an anchor to a room and a place of relaxation, so they should be placed against a wall to help you feel supported and safe. If you can’t do that, you could place a sofa table against the back instead.

Try to avoid having your sofa against a window. This will help avoid disrupting the energy entering your home and help you feel secure. Be sure to leave plenty of space between your furniture so both chi and people can move through.

The bedroom

Having a doorway directly in front of the foot of your bed can disrupt your home’s calming flow and your peace of mind. It could feel unsettling to see a dark hallway in front of you when you’re trying to fall asleep. Having the bed diagonally across from the door is recommended.

If possible, try to have some symmetry (in keeping with the goal of balance) in this room, specifically by using matching nightstands on either side of your bed.

The yard

The outside of your home also offers some opportunities to promote the flow of positive energy. Chan said curb appeal is key. Making your home aesthetically pleasing enhances its resale value, plus it can make you feel good whenever you see your nice, clean yard. This applies to the backyard as well.

Chan also said having a neat exterior attracts good energy, as energy loves to find people easily, as opposed to having to squeeze and wind through various obstacles.

What’s the best décor approach for you?

There are a number of ways you can have a home layout that follows some feng shui rules. Chan said most people fall into two camps: those who have too much stuff and tend to be overwhelmed in their lives, and people who are minimalists, who may feel like they are searching for more in their lives.

She suggests doing some reflection to figure out which one of these describes you the best (it doesn’t have to be an exact match). Depending on what you find, there are different tips you can follow.

If your home feels cluttered, start by intentionally releasing nine things in the next nine days so you can create space for more positive energy to come in. If it doesn’t “spark joy,” consider tossing it out, or donating it.

If you tend to be more minimal, consider adding some color, texture, or natural elements to your home using plants or rocks.

“[Add things] that make you and your insides feel warm and fuzzy,” Chan said. “And yes, I said ‘warm and fuzzy.’”

You don’t have to do it all

There is such a thing as "feng shui paranoia,” as Chan calls it. This is where you may feel compelled to apply every principle you read about, even when it's unnecessary. Chan said it’s OK to take a more hands-off approach.

"If it ain't broke, don't fix it,” she said.

By concentrating on the strengths of your space and making mindful, meaningful adjustments, you can create a harmonious and supportive environment without getting overwhelmed. Instead of trying to follow everything the experts suggest, focus on what you want to improve in your life. Chan suggests identifying a few areas you'd like to enhance and use feng shui to address them.

“I always emphasize the importance of focusing on what you have, rather than what you lack,” Chan said. “My approach to feng shui is all about highlighting the positives.”

Source: Zillow

The Pros and Cons of Buying a House As-Is

Mon, 02 Sep 2024 21:16:42 GMT

If it’s your first time buying a home, you may expect it to be move-in ready on day one. However, not all homes are at their best when the paperwork is signed. If you’re looking at home listings for properties that are being sold “as-is”, there’s a strong chance that they may need repairs or renovations.

What Does It Mean When a House is Sold As-Is?

When a house is sold as-is, it typically means that it is being sold in its current condition. The seller won’t make any improvements, repairs or changes. It’s not uncommon for homes that are sold as-is to need significant renovations or repairs. Frequently, homes that need to be torn down are sold as-is.

Reasons to Purchase a House As-Is

Low list price: An as-is home is often listed below market value because of its condition. It’s generally safe to assume that the seller and buyer both know that the home will require significant updates or repairs.
Desirable land or location: Some people buy an as-is home for the land it sits on. This type of sale can be particularly interesting to buyers who want to tear down a house and build their dream home in a specific area.
Fast sale: In some cases, a seller may want to get rid of their home quickly. As-is sales typically involve less negotiation between the buyer and the seller, leading to a quicker transaction.
Less competition: Because an as-is home may require significant expenses after purchase, there could be less competition from other buyers who lack the funds to repair, upgrade, tear down or flip an as-is home.
Extra funds to renovate: Since as-is homes often come with a lower price tag, you may have the funds to update and personalize a property to your exact specifications.
Investment opportunities: Real estate investors may seek an as-is sale as an opportunity to renovate and flip a home for profit. There’s a similar appeal for investors who want a rental property, since they can control the cost of updates and repairs.

Potential Drawbacks of Buying a House As-Is

Renovation expenses: A home sold as-is may require costly repairs. This could include addressing concerns like a leaking roof, mold or structural issues. The home’s plumbing, electrical and HVAC systems could also require repair or replacement.
Possible health hazards: A home that’s in rough condition could have health risks, including pest infestations and the presence of asbestos or lead paint. It’s wise to get the home professionally inspected for these issues prior to purchase and take the necessary precautions when repairs begin.
Hidden expenses: Even with a home inspection, there could be hidden issues. Corroded pipes, rotten wood or foundation issues could lead to a costlier renovation than expected.
Inflexible sellers: Sellers of as-is homes often want to avoid negotiation. They are also less likely to accept an offer that gives the buyer an opportunity to cancel the home sale and recover their earnest money deposit . For example, a contingent offer that requires a successful home inspection may be viewed as unfavorable by the seller.

Financing a Home that’s Sold As-Is

There are fewer mortgage options for buyers who want to finance the purchase of an as-is home. This is especially true with Federal Housing Administration (FHA) loans, where the Department of Housing and Urban Development has minimum property requirements that must be met.

Some conventional loans also require a lender-issued home inspection to secure a mortgage. If the results of such an inspection give the lender pause, repairs will need to be made before the sale can move forward.

These conditions may be a barrier for many homebuyers. Still, Michael C. Weiner, a real estate agent with Coldwell Banker Warburg, says that securing a home loan on an as-is property is not more difficult if the buyer is in good financial standing and does not overpay.

“First, a bank has to want to loan a buyer money (thus, strong financials), and then the property needs to be appraised for the purchase price or more for the collateral against the loan,” says Weiner. “Before submitting the offer, a buyer should have a pretty good sense of what the property is worth and what it will cost to make changes – because once the sale is complete, it’s all on the buyer.”

Tips for Buying Real Estate As-Is

“As-is doesn’t necessarily mean that the property has issues,” says David Harris, a real estate agent with Coldwell Banker Warburg. “It means that the seller isn’t making any upgrades or improvements.” Harris offers the following tips for buyers who want to purchase a home that’s sold as-is.

1. Have a Property Inspection

You may already be anticipating expensive repairs when you buy a home as-is, but you should still get it inspected. “While it does incur a cost, spending the money brings peace of mind,” says Harris. “Even if you are okay with performing minor upgrades or if you expect to make improvements, having an inspection can help assess the scope of work to be done as well as inform whether or not larger issues are present.”

2. Ask Lots of Questions

As a buyer, it’s crucial to learn as much as you can about the property. “This is one of the most important financial transactions some will ever make,” says Harris. “Ask when the last time any work was done to the electrical or the roof. Ask if there were ever any leaks or water damage.”

3. See the Property on a Rainy Day

The effects of a rainshower can tell you a lot about potential issues with the home. Harris notes that, “The best time to see if there are any roof issues or leaks in the basement due to foundation or plumbing issues is to see the property when it’s raining.”

4. Review Financials on Investment Properties

“If it’s an investment property that’s currently being rented, ask to see the rent roll and operating expenses,” says Harris. “Find out if the tenants are paying rent on time.” If the property is vacant, your real estate agent should run comps for similar rentals in the area. Harris advises buyers to “See what types of rental properties are in demand in that particular neighborhood.”

Additional Considerations: Buying a House As-Is

The buyer is generally assuming more risk and less opportunity for negotiation when buying a house as-is. Still, a home inspection and the disclosure regulations in your area should provide a clearer picture of the home that you plan to purchase. In some cases, these findings may provide an opportunity to renegotiate the purchase price.

Negotiating an As-Is Purchase

When a home is listed “as-is,” the seller is often less likely to negotiate. However, you don’t want to pay more than the home is worth, especially if you had the house inspected and found major problems. An experienced real estate agent can help you navigate the process, and you can always ask the seller to adjust the purchase price if they refuse to make repairs themselves.

Seller Disclosures Are Almost Always Required

In most states you will be entitled to a Seller’s Disclosure when you purchase a home. This legal document is also known as a property disclosure, and it requires the seller to provide information about the property to the best of their ability. This includes undisclosed details about the home that may give buyers pause, and it helps protect the seller from potential lawsuits after the sale.

The Seller’s Disclosure is typically part of the closing process. The information that it contains will vary depending on the disclosure laws where house is being sold, but most property disclosures typically include:

Appliances that convey with the sale.
A checklist of known issues that the seller must confirm, if they exist.
Questions that the seller must answer about the property.
The opportunity to provide further information about issues specified in the disclosure.
The opportunity to disclose information that is not specified in the document.

Consider a Home Warranty

A home warranty will not cover preexisting conditions or known issues when you purchase a home, but it may provide some peace of mind if you’re concerned about unexpected repairs.

In general, buying a home warranty will offer some protection for your home’s fully functional appliances, as well as the plumbing and electrical systems if they are in good working order.

Assemble the Right Team to Buy a Home As-Is

Purchasing a home that requires extensive renovations is a complex process, and you’ll benefit from the expertise of an experienced real estate agent, attorney and contractor. In some instances, you may also need an architect to help you understand the scope of your project.

“Your attorney will be able to search for several potential problems, such as open jobs filed with the city for renovations that were not closed, which can be costly,” says Dan Ragone, real estate agent with Coldwell Banker Warburg. “Invite your contractor and architect to visit the property and get estimates on what it would cost to make the property livable for you and consider this cost in the asking price to make sure you’re getting the best deal.”

In a best-case scenario, Ragone suggests making an all-cash offer or getting a mortgage pre-approval in case there are multiple bids on the property.

Should You Buy a House That’s Sold As-Is?

If you have the budget and the vision, an as-is property can be the humble beginnings of your fully renovated dream home. However, it could also be challenging if you’re not prepared for the time and effort that a fixer upper will require.

Be prepared to ask plenty of questions during the buying process, ensure that you have the budget to renovate, and seek out an experienced real estate agent to help you negotiate the deal.

Source: Homes.com

The Number One Mistake Sellers Are Making: Overpricing Their House

Mon, 19 Aug 2024 15:42:53 GMT

In today’s housing market , many sellers are making a critical mistake : overpricing their houses. This common error can lead to a home sitting on the market for a long time without any offers. And when that happens, the homeowner may have to drop their asking price to try to re-ignite buyer interest.

Data from Realtor.com shows the number of homeowners realizing this mistake and doing a price reduction is climbing ( see graph below ):

If you’re thinking about making a move yourself, here’s what you need to know. The best way to avoid making a costly mistake is to work with a trusted real estate agent to find the right price. Here’s a look at what’s at stake if you don’t.

Not Paying Attention To Current Market Conditions

Understanding current market conditions is key to accurate pricing . You don’t want to set your asking price based on what happened during the pandemic. The market has moderated a lot since then, so it’s far better to align your price with today’s reality.

Real estate agents stay updated on market trends and how they impact the pricing strategy for your house.

Pricing It Based on What You Want To Make (Not What It’s Worth)

Another misstep is pricing it based on what you want to make on the sale, and not necessarily current market value. You may see other homes in your neighborhood selling for top dollar and assume yours can do the same. But you may not be considering differences in size, condition, and features. For example, maybe that other house is waterfront or has a finished basement. To sum it up, Bankrate explains:

“How do you find that sweet spot of pricing for profit but not overpricing? The expertise of your agent can be truly valuable here. A knowledgeable agent will understand fair market value in your area, how much your house is worth and how much you might reasonably expect to get for it in the current market.”

An agent will do a comparative market analysis (CMA) to make sure your house is compared with truly similar properties to get an accurate look at how it should be priced.

Pricing High to Leave Room for Negotiation

Another common, yet misguided strategy is to price your house high on purpose, so you have more room to negotiate down during the sale. But this can backfire. A price that seems too high often deters potential buyers from even considering the home. So rather than leaving room for negotiation, what you’ll actually be doing is turning buyers away. U.S. News Real Estate explains:

“You want to sell your house for top dollar, but be realistic about the value of the property and how buyers will see it. If you’ve overpriced your home, chances are you’ll eventually need to lower the number, but the peak period of activity that a new listing experiences is already gone.”

An agent can help you set a fair price that attracts buyers and encourages more competitive offers.

Bottom Line

Overpricing your home can have serious consequences. A knowledgeable real estate agent brings an objective perspective, in-depth market knowledge, and a strategic approach to pricing.

Connect with a local real estate professional to avoid making a pricing mistake that’ll cost you.

Source: Keeping Current Matters

9 Ways to Downsize Before Moving

Mon, 05 Aug 2024 19:10:25 GMT

How to Make Moving into a Smaller Space Easy as Possible

You’re finally ready to move on to the next chapter of your life. Congratulations! Along with this well-earned breath of fresh air come a few things to consider, especially when you’re about to move into a smaller home. One of the best things about downsizing is that you get to customize the new space to your specifications.

It’s easy to become overwhelmed at first. Moving is one of the most emotionally draining and stressful events in life, with some people even likening the process to grieving. We highly suggest taking a deep breath. Allow yourself some time to embrace the change!

You’re free to choose how you want to move forward in the downsizing process, and that’s a powerful thing to have at your disposal. When you’re ready, we’re here to help. For now, here are some downsizing tips!

9 Ways to Downsize Before the Big Move

1. Plan ahead.

Before getting started, give yourself at least three months. While this seems like a bit much, having plenty of time before beginning your downsizing journey will allow you to approach the process at your leisure with a clear head. During this time, try to pinpoint why you’re downsizing in the first place and focus on that. No idea where to begin? Start here:

Less space will give you less to maintain in your home at the end of the day.
Less maintenance means more time spent doing things you enjoy (sometimes one of those things can involve doing absolutely nothing, which– let’s face it– can be incredibly cathartic in and of itself)!
With less living space, you’ll be able to travel more, read more books, enjoy friends and family, or get more sleep! The possibilities are endless.

2. Do one thing at a time.

When dealing with daunting tasks, the best advice we have is to take one small step after the other. You have likely lived in your current home for many years, collecting not only memories but family heirlooms that hold significant sentimental value. Take each item and allow yourself to reminisce. Does it still bring you happiness? Keep it! If not, someone else may find joy in it, so toss it in a donation box.

Are you thinking about passing down sentimental items like jewelry, books, framed photographs, and other memorabilia to loved ones? Then it’s a good idea to categorize them now and set them aside in labeled boxes so that they won’t spend time collecting dust after you move into your new home.

3. Discover your entrepreneurial spirit.

Use three months of prep time to get a head start! Gather items that are still good but no longer belong in your immediate future and start pricing them for a yard sale (start higher than you’d think– people tend to haggle prices down even if they’re already inexpensive).

Research when your city-wide garage sale takes place and participate in that, or take photos of leftover knick knacks, post them on online in places like Craigslist, and watch as the offers trickle in. Have a little patience with this process — there will be a lot of back-and-forth communication between you and folks bidding to purchase your items.

Keep in mind that you can also use Facebook Marketplace to give items away for free in “buy nothing” groups. People in need truly appreciate when you give away items in good condition in these groups.

4. Get help from friends and family.

Don’t think that you have to go it alone! Recruit family and friends to help sort items into “Keep,” “Donate,” “Sell,” and “Trash” piles. Bribe them with lunch or dinner! While everyone is over could also be an opportune time to distribute your heirlooms and things you want to pass along.

5. One man’s trash is another man’s treasure.

Once your donation boxes and bags start to fill up, take them directly to your car so that you can drive them to a consignment store or Goodwill as soon as possible. Don’t pile them in the garage to deal with later!

Relish the thought of giving back to the community. You’ll feel so much better about the clutter that’s magically gone after having dropped off your donatable goods. So much more room for activities!

6. Eliminate the unnecessary.

One of the most challenging ideas to become at peace with is throwing things away. You have to convince yourself that it truly is okay to toss something in the garbage, especially if it no longer has a place in the life you see yourself living in your new home. It’s okay to let go, we promise.

Tip: If you absolutely can’t let go of something, then consider renting a storage space or handing a belonging to a loved one. Someone you know may need an extra couch in their living room, or they may have free storage solutions in their garage or shed.

7. Get rid of the gray area.

As decluttering goes, you may have to be a little more callous when it comes to separating items into categories. We suggest only having “yes” or “no” piles and no “maybe”. Getting rid of things you’re on the fence about will be one less pile to consider, and your task will be that much quicker to accomplish. For example, if you have duplicates of items, that’s an easy “no” that you can toss into the donate bin.

8. Give yourself some grace.

At the end of the day, it’s okay to hold on to things as well. You could technically get rid of everything and start from scratch if you really wanted to. Some things can’t be replaced or easily discarded, and it is important to distinguish those from excess. Take a page from Marie Kondo’s book Spark Joy and keep only the things that make your heart the happiest. Good luck!

9. Stuck? Hire a professional organizer.

To make sure you don’t have excess belongings after unpacking into your new home, you can hire a professional organizer. These pros can help you downsize to the right number of belongings so that what you have fits in your new house. You’ll have more space and freedom, and perhaps even some wiggle room to get new items that suit your new dwelling.

Source: Marketplace Homes

Fun Indoor Activities In Myrtle Beach

Mon, 15 Jul 2024 17:46:32 GMT

Need a break from the sun?

Every day is a good day to explore some of the great indoor activities the Myrtle Beach area has to offer. This quick list of favorites also doubles as good rainy day back up plan if you see a cloudy forecast while on vacation.

Ripley’s Aquarium

Probably one of the more well-known and popular indoors attractions in our area, there is a lot to love about Ripley’s Aquarium . The Penguin Exhibit is a must-see for the whole family! From the Planet Jellies exhibit to the live show at Rainbow Rock, I always learn something new. It’s easy to navigate with children, holds their attention and offers lots of hands-on learning opportunities. Lastly, check out their events calendar for fun activities on weekends throughout the months of January and February. The Aquarium also recently added a new Sloth Exhibit featuring the cutest two-toed sloths, Rico and Cleo.

Myrtle Beach Art Museum

The Franklin G. Burroughs-Simeon B. Chapin Art Museum (aka the Myrtle Beach Art Museum) is the only art museum in Myrtle Beach offering 11 galleries throughout the year. Aside from the incredible works of local, regional and national artists, one of the best things about the Myrtle Beach Art Museum is that it’s free to visit. There is no admission fee! They also offer a variety of classes, workshops, talks, community and family days and more throughout the year, though occasionally those have an extra cost. We’ve loved every event we’ve ever attended and visited the museum multiple times throughout the year. They’re open every day except Monday and are located near The Market Common in a historic beach home facing the ocean.

Coastal Grand Mall

While shopping is probably a top indoor activity for most people, Coastal Grand Mall is one of our favorite places to head on cloudy or colder days in Myrtle Beach. Not only do they have a number of fantastic stores that I love, they also have a variety of activities to keep kids busy. There is a small arcade near the food court along with a bungee/trampoline jumping experience at Center Court. And smaller kids can expend some energy in the free play gym area, with slides and other fun things for climbing. By making a stop there first, I’m always able to get a little shopping done with kids in tow, who are generally happy to behave with the promise of Chick-fil-A in the Food Court before we head home. Lastly, there is a large movie theater at Coastal Grand Mall with many movie showings and never disappoints.

810 Billiards and Bowling

810 Billiards and Bowling is indoor entertainment on steroids (a good thing!). This fun complex has 14 standard bowling lanes, 6 boutique lanes, 6 billiard tables, foosball, darts, board games, and corn hole, plus a full menu and sports bar on-site. While I’ve only ever visited the Market Common location, they also have a location in North Myrtle Beach and Conway. One of my favorite things about the Market Common location is the overall size of the facility. You feel like you have lots of space to yourself even when it’s busy. It’s hip, super clean and modern--in contrast to some other bowling alleys I’ve visited before. Overall, it’s a great addition to the Myrtle Beach area, and absolutely worth checking out.

Sky Zone Trampoline Park

Another popular indoor activity for families with kids is Sky Zone Trampoline Park (formerly Rockin' Jump)… and for good reason! This attraction offers wall-to-wall aerial action disguised as fun and does a fantastic job of channeling all of that kid energy into several different jump areas. They have a massive main trampoline jump area, or you can conquer the Warped Wall, or joust on the Battle Beam, or dunk like the pros on Skyslam plus several other high-flying attractions providing something for all ages, even the littles. We’ve attended a couple birthday parties here, and it’ always a hit. They have a snack bar located inside the attraction and comfy seats for parents to relax in while children (and adults, too!) jump alongside.

Grand Strand Brewing Company

The last one on my list for the grownups. Grand Strand Brewing has become a new favorite indoor spot. This Myrtle Beach-based craft brewery offers locally crafted beers throughout the week, as well as other fun events periodically. Located right in the heart of downtown Myrtle Beach, not far from the Boardwalk, they often have brewery-only beers or seasonal beers on tap, so checking them out in person is a must for any craft beer drinker visiting the area. They also have several food options if you work up an appetite and a fun indoor vibe with a long bar and view into the brewing areas.

The Escape Game

New to Broadway at the Beach, The Escape Game is the perfect place for the whole family to enjoy a little challenge while also having fun! Choose from a variety of different themed rooms for a variety of skill levels and get as many hints as you want as you unravel the puzzle to escape if you can.

Source: VisitMyrtleBeach.com

What Is a Starter Home?

Mon, 08 Jul 2024 15:54:07 GMT

You’ve heard the term, but do you know what a starter home really is, and what to look for in your hunt for one? We’ll explain.

Looking to buy your first home? You’ve likely heard the advice that there’s not a ton of pressure when you first enter the housing market. After all, you’re just looking for a “starter home,” right? Your pick won’t be the place you live forever, so why stress too much about it? Maybe so, maybe not, is what experts say about the modern house-buying cycle.

For many buyers, that first home—the starter home—marks a turning point in their lives where they stop paying rent and start investing in a property that can help build generational wealth over time.

“For most people, that is where wealth begins,” says Jack Gross, president and CEO at Better Homes and Gardens Real Estate Cassidon Realty. “In some markets, that could be a one- or two-bedroom apartment condo. In other markets that could be a townhome or a small single detached ranch . In most cases it’s a home that is under the median price point for the local market.”

Starter homes have different definitions for different people. In this article, we’ll take a look at the features you should look for in a starter home—and the ones you can skip as you hunt for the perfect property.

Defining the Starter Home

When buyers think of starter homes, they typically think small, affordable, and something they’ll eventually grow out of. In general, though, a starter home might just be a property you have to make some compromises about if you want to get into the housing market as a first-time buyer.

“A starter home is a house that is typically the first that a person can afford to buy,” says Alex Capozzolo, co-founder of Brotherly Love Real Estate. “Starter homes are generally one- or two-bed properties. Buyers with limited financial means generally consider starter homes. They might also be a choice for people who are trying to save money for an upgrade to a better neighborhood or a bigger house, for example.”

Typically, a starter home is one that lasts the buyer a short amount of time before they look for their next home or their forever home.

“On average, a starter home owner might keep the house for 5 to 7 years before selling,” Capozzolo says. “However, this is also dependent on factors like mortgage, income, housing inventory, et cetera.”

In rare cases, your starter home could be your forever home, says Stephanie LoVerde, agent at Baird & Warner in Chicago.

“There are buyers out there who can afford to ‘skip’ a step and progress from renting or owning a smaller condo to something more extravagant that meets their immediate as well as anticipated needs,” she says.

And if you find yourself totally happy to stay in your starter home long-term, that’s fine, too.

“A property that a buyer may look at as more of a shorter-term ‘starter’ home could end up being their forever home, depending on their living situation and changing needs,” LoVerde says. “Maybe their family doesn’t grow as large as anticipated, or they fall in love with the location or school district and decide to stay put, renovate, and build additions.”

What to Look for in a Starter Home

As you shop for your first home, Capozzolo says to focus on a few key features, beginning with the floor plan. You’ll want something that meets your current needs, but you don’t necessarily need extra bedrooms or floors to grow into if you feel confident that you’ll be able to move into a larger house as your family grows. In addition, make sure your commute to work and other key locations is manageable. Don’t stress if you have to sacrifice your ideal layout and location a bit if the goal is simply to enter the housing market.

“The beauty of starter homes is that they should take the least money from you as possible,” Capozzolo says.

A starter home might be something that is move-in ready and easy to maintain, or it might require some elbow grease.

“For some buyers, a smart long-term housing strategy might be to buy something on the lower side of their budget and make improvements,” LoVerde says. “Hopefully, they will gain equity from the improvements and be able to personally enjoy those upgrades while owning the property.”

Many buyers also think of their starter homes as homes that will ultimately appreciate in value and earn them a little money when they’re ready to move onto the next property. If that’s the case, you might be willing to make a few improvements.

“Conversely, some buyers don’t want the hassle of lifting a hammer or picking out a shade of paint, and they are willing to pay for a home that is move-in ready and aligned to their tastes—which is fine, but the upwards potential may not be as great,” LoVerde says. “Everyone is different.”

Are You Ready for a Starter Home?

If you’re itching for more space or tired of jumping from one apartment to the next and looking to settle down somewhere where to plant roots and nest, it could be time to buy.

“In almost all cases, it is prudent to be an owner and not a renter,” Gross says. “When you are renting, you are paying down someone else’s principal on their mortgage. The landlord benefits from the appreciation, depreciation.”

Gross says that, in most cases, those who plan to stay in an area for at least two years will benefit from buying vs. renting. There are rent vs. mortgage calculators online that can help you get a rough estimate of whether renting or buying is the smarter move, money-wise, in your area.

From there, you’ll want to figure out how much home you can afford by taking a look at your monthly expenses, the tax advantages of buying, and whether the homes you’re considering need repairs (and more money) in the immediate future. You’ll also want to calculate how much a down payment might be, and whether you have enough money saved up.

“These are all questions one should ask themselves and consider and make sure you are asking the questions to a qualified professional, Realtor, accountant and mortgage lender,” Gross says.

Capozzolo says many first-time buyers opt for less house than they can afford to allow themselves some wiggle room as they tackle their largest financial investment to date.

“When buying a starter home, some buyers get pre-approved for a mortgage and then shop based on how much they can borrow. If you do not qualify for a conventional mortgage, FHA loans are a reliable choice,” he says. “When it comes to starter homes, you might want to spend less than you are approved for. Taking on a larger mortgage might cause financial difficulties moving forward.”

Source: BHG.com

Stars & Stripes Standards: How to Properly Display the American Flag

Mon, 01 Jul 2024 22:04:09 GMT

The Fourth of July is just around the corner, and millions of people will fly flags to recognize the patriotic holiday. If you plan on touting this iconic symbol of freedom, remember there’s a right way to set up, display, and dispose of the flag. Here are important flag etiquette reminders for a successful celebration.

THE UNITED STATES FLAG CODE

Established in 1998, the United States Flag Code acts as the official advisory on the appearance and display of the American flag. It dictates a variety of flag-related items, including the use of the flag in advertisements, the reciting of the Pledge of Allegiance in schools, and how to address flag desecration or misuse. While not enforceable by law, citizens should follow the Flag Code to promote unity and respect.

HOW TO FLY THE AMERICAN FLAG

Before you fly your flag, make sure it has a uniform design: 13 horizontal stripes, alternating red and white, and a union of 50 white stars on a rectangular field of blue. On a flagpole, the union should always be at its peak, unless the flag is at half-staff, facing the left-hand side of the main observers.

The American flag must fly above other flags and be hoisted briskly and lowered ceremoniously.

Flag flyers are also advised not to:

Dip a flag to any person or thing
Fly ripped, stained, or unpresentable flags
Write or make marks on a flag
Let flags touch the ground
Fly flags with fold lines or kinks
Fly flags in the dark unless they’re illuminated

HOW TO DISPLAY THE AMERICAN FLAG

If a flag isn’t flying, it should be displayed vertically and suspended so its folds fall freely. Against walls, stripes can be displayed vertically or horizontally, with the union of stars facing to the left of any observers. Using the flag as a piece of clothing, like a cape, is prohibited and considered distasteful.

HOW TO FOLD THE AMERICAN FLAG

When not in use, the flag should be folded 13 times into a triangle, representing the country’s historic 13 colonies. To do this:

Lay the flag down on a flat surface in the same way you’d see it hanging.
Fold the bottom half of the flag over the top half.
Repeat step two by bringing the folded edge of the flag to meet the open edge.
Start a triangular fold by bringing the striped corner of the folded edge to the open edge.
Turn the outer point of the flag inward so it’s parallel with the open edge.
Continue the pattern from steps four and five until the entire length of the flag is folded in a triangular shape with only the blue field visible.

HOW TO DISPOSE OF THE AMERICAN FLAG

Flags should be disposed of appropriately when they’re no longer fit for display. There are a few ways to do this, including:

Flag donation. Many states offer designated locations to donate worn-out flags. Search “flag donations near me” online to find options.
Flag burning. Commonly used in the military, this ceremony involves placing a folded flag into a fire, giving it a salute, reciting the Pledge of Allegiance with a moment of silence, and burying the ashes.
Flag burial. Flags can also be buried without being burnt, so long as they’re folded correctly and placed in a dignified box or case.
Flag recycling. Some companies and organizations will accept used flags, salvaging portions to give them new life.

Source: Coming Home Magazine

Ready for Anything: Five Emergency Preparedness Tips You Can Use Now

Mon, 24 Jun 2024 17:15:30 GMT

We’re all at risk for severe weather. Whether it’s torrential rain and flooding or extreme heat and wildfires, there’s likely some form of weather-related natural disaster that your area is familiar with. To keep yourself and your family safe, it makes sense to be prepared—especially when doing so is easy. Explore five simple things you can do now to prepare for an emergency.

1. UNDERSTAND POTENTIAL DISASTERS.

Weather-related natural disasters come in all shapes and sizes, impacting your home, community, city, province, state, and region differently. The best thing you can do for your safety is understand the events you’re most at risk for. Talk to your

real estate agent or research the disaster history of your home, and reach out to local authorities to identify flood maps and risk zones. These events can hit big:

Wildfires . Wildfires can happen anytime. They’re uncontrolled fires in forests, woodlands, grasslands, or anywhere with dry, combustible vegetation to fuel the flames. Natural forces, like lightning, can start wildfires, but nearly 85% are caused

by humans.

Tornadoes . Ordinarily in the spring, summer, and fall, a tornado is a narrow, violently rotating column of air that extends from the sky to the ground. Threats from a tornado include strong winds and lightning.

Hurricanes . The Atlantic hurricane season begins June 1 and continues until November 30. Hurricanes are tropical cyclones that bring aggressive weather, such as widespread, heavy rainfall, gusty winds, and significant river and storm surge flooding.

Floods . An overflow of water onto land that’s normally dry, flooding can occur in any season, but coastal spots are prone to flooding during hurricane season, and cold regions can experience flood-causing ice jams when the weather turns warmer, usually in the spring.

2. STAY ALERT.

Know what’s coming your way by staying up to date on emergencies. Get the lowdown on the weather by regularly visiting reliable websites, listening to local radio stations, or watching news broadcasts. Additionally, you can sign up for alerts from apps like:

Red Cross Emergency . This app lets you customize 40 weather alerts with fast notifications. It also features a disaster preparation guide and shelter map.

Storm Radar: Weather Tracker . Get live National Oceanic and Atmospheric Administration (NOAA) and National Weather Service alerts right on your device, including winter storm warnings, tornado warnings, thunderstorm warnings, and more.

Ventusky . Available around the world, this app combines a weather forecast with a 3D map showing the weather beyond your location.

3. PROTECT YOUR HOME PROACTIVELY.

When a disaster strikes, your personal safety is paramount—and tending to your home at the last minute isn’t the ideal course of action. Take the time to verify your homeowner’s insurance properly covers your property for relevant disasters, and collect and

store hard-to-replace documents, like passports, IDs, marriage licenses, insurance cards, and birth certificates, in a fireproof and waterproof container.

To help protect the physical structure of your home and its contents, make a habit of unplugging appliances and electronics, like toasters, laptops, fans, lamps, air fryers, and blenders, when not in use. Maintain outdoor spaces, trim trees and bushes, remove

fire hazards, pull dry vegetation, and clear gutters, too.

4. SET A COMMUNICATION PLAN.

You’ll want to ensure every family member knows what to do amid the commotion and chaos. Create a plan for who to contact and how during a pending disaster. Here’s what you can do to prepare:

• Program emergency contact numbers for local departments in your phone.

• Double-check that your managed community has your contact information and you have theirs.

• Set a meeting point where your family can gather.

• Confirm everyone in your family has an emergency cell phone and can send messages.

• Have a list of people to contact in case of an emergency with addresses, phone numbers, and social media handles.

5. MAKE EVACUATION ARRANGEMENTS.

Common in weather emergencies, evacuation orders mean it’s time to go. If officials tell you to evacuate, you should leave immediately. Build an evacuation plan in advance so your family can get out of danger quickly with:

Your evacuation zone. Check official databases to identify your region and get information on local disaster response, including recovery centers and flood maps.

Alternative shelter plans. Ask to stay with family and friends who don’t live in your area.

Assistance for pets, elderly, or disabled individuals. Organize special plans for those who may need them.

Utilities shut-off. Know the shut-off locations for your home’s water, gas, and electricity.

Play it safe and do the things you need to do to prepare for an emergency. When it matters most, you’ll be glad you did.

Source: Coming Home Magazine

Big Brother Might Be Watching: What To Say—and Definitely Not Say—During an Open House

Mon, 17 Jun 2024 18:32:16 GMT

Touring your dream home during an open house or private showing is pretty exciting, especially if it looks even better than the listing photos.

Then again, you might discover the house smells bad or has uneven floors. Good or bad, it’s in your best interest to keep a tight lip about your thoughts. Many homeowners have doorbell cameras, baby monitors, surveillance cameras, and voice-controlled smart speakers like Alexa devices—and they could be watching and listening as you tour their home.

To be fair, sellers could be using those cameras and speakers for legitimate safety and security purposes. After all, they’re allowing strangers into their homes.

Still, according to a Lending Tree survey , about one-third of home sellers used hidden cameras when they showed their homes. Half of those surveyed said they used the cameras to gather intel on buyer feedback.

With that statistic in mind, here’s what you should know about spy cams before you go house hunting .

Should sellers use cameras to record buyers?

While cameras and listening devices are common these days, it’s crucial to understand that this doesn’t automatically grant sellers the right to record video and audio of homebuyers while they’re touring a home.

The laws vary from state to state, so if you’re seller, consult your agent and attorney before you activate any device before a showing.

Legal or not, the next question to ponder is whether you should watch and listen as prospective buyers poke, prod, celebrate, or judge your home.

If you’re recording to keep an eye on your valuables, or you want to use the “drop-in” feature on your Alexa to get the scoop on what buyers think of your place, Chelsea Werner , a global real estate advisor at ONE Sotheby’s International Realty, cautions owners to tread lightly.

In one example, a Reddit user said the use of Alexa devices during their home tour made them pass on a listing.

“This happened recently when we were visiting a home that had Alexa devices in each room that kept turning on when we would enter, I am 90 percent sure they were running a real estate application that could monitor our dialogue!’ they posted. “They were also speaking to us explaining all the benefits of the home, but I had my human realtor with me so it was needless and redundant IMO. Felt like I was in 1984 and we ended up passing on that specific house …”

This is just one example of why Werner strongly cautions sellers with devices to be upfront about their actions.

“If the seller wants to watch the activity from a camera, I tell them to make sure the camera or smart home device is prominently displayed so buyers can see they are being filmed,” she says.

Mum’s the word

Cameras might be the norm in commercial settings these days, but buyers are often less keen knowing a camera or listening device is active in a residential home may still creep out some buyers or leave a bad impression.

When Skutch M. and his girlfriend Allie K. of Baltimore were househunting , they toured more than 50 homes before their offer was accepted. And they were hyper-aware of cameras and mindful of the conversations they had in other people’s for-sale homes.

“It was definitely a strange Big Brother-esque feeling; but in some cases, it was someone’s home that they were still living in, so we understood,” says Skutch.

Skutch and Allie played it cool while walking through each house, trying not to show too much emotion either way. Yet, Skutch admits they occasionally considered using the cameras to their advantage.

“We were more tempted to talk negatively and insert some leverage into the situation if anything,” he says.

But that plan could backfire, depending on the seller, according to Casey Preston , an agent at Realty Executives Home Towne .

Even if it’s an honest observation like pointing out the old carpet or dissing the seller’s taste in art, it could put you at a disadvantage.

“Sellers are attached to their homes and can take things personally, and you don’t want to take the chance of your clients losing a deal over something that might be misconstrued,” says Preston.

As a recent homebuyer herself, Preston heeded her own advice and cautioned her new husband, who hadn’t bought a new home in 28 years.

“My husband is old school,” she notes. “I told him there could be cameras in the house and that we shouldn’t have any conversations or make any telling expressions while on the property until we got back to the car to chat about the house,’ she says.

That’s right. Hold your tongue until you get inside your car, as exterior cameras could also be watching.

Keep your excitement contained

When you discover the home you’ve been drooling over is even better in person, it might be hard to keep your oohs and aahs to yourself.

After all, wouldn’t the seller be pleased to know you love their house? Maybe, but there’s some good reason to dial back your enthusiasm a notch when cameras are watching.

“I remind my homebuyers that the last thing we want to do is accidentally show our cards to the seller,” says Brian Durham , vice president of risk management and managing broker at Realty Group LLC and Realty Group Premier .

If you try to negotiate repairs or price reductions later, you might also give up some bargaining power. Play it cool when posting on Facebook, too.

“Sellers have the buyer’s names from the contract, and they do look at social media,” Durham points out. “So if the buyer posts that they found the perfect home and how excited they are, the seller might see that. Buying a home is an exciting time, but you have to be careful not to let that excitement hurt your chances of going under contract or staying under contract.”

Now, that doesn’t mean you can’t say anything during your house hunt.

“There is nothing wrong with sharing opinions, feedback, or asking questions within reason, but usually less is more,” adds Werner.

She suggests buyers take their own videos for reference—and let the comments fly once they’re home.

Source: Realtor.com

6 Causes of Buyer's Remorse After Buying a House, According to Homeowners

Mon, 03 Jun 2024 21:56:40 GMT

Three out of four homebuyers in a Zillow survey report having at least one regret about the home they bought. Follow these tips to avoid buyer's remorse.

In a hot seller’s market, it’s easy to get so caught up in the search for a home that you overlook the home’s shortcomings. Or, you may fail to consider whether it’s going to work for you in the long run. What follows tends to be some form of buyer's remorse after a period of living in your house.

That’s what happened with Mary Germany Gibson when she bought her home Columbia, Tennessee, in 2021.

We love our home,’’ Gibson said, “but regret having all four bedrooms upstairs. We should have looked longer for a (primary bedroom) on the main level.

Gibson was among more than 5,000 people who shared their biggest sources of regret regarding their house in a Zillow post on Facebook. Not taking enough time to find the right home was one of the themes that emerged, as was paying too much, exceeding their budget and a host of other particulars.

Turns out, buyer’s remorse after purchasing a house is common. In a Zillow survey published in February 2022, 75% of those who successfully purchased a home in the past two years say they have at least one regret about the home they bought . And 81% of successful buyers say they had to make at least one compromise in order to afford their home, according to the survey of recent buyers.

We combed through the Facebook post on top home buyer regrets to glean nuggets of wisdom from the trials and troubles of experienced buyers. Keep reading to learn how to avoid some of the pitfalls that come with moving too quickly or losing sight of the things you need to make a happy home.

Reasons people feel buyer's remorse after getting a house

1. They bought a home that requires too much maintenance

If I could do it over, I’d buy a cute condo with a small yard. Tending to a house with a big yard is just so much work.

Few things can match the disappointment of finally getting your own yard only to watch the previous owner’s gloriously curated garden devolve into an overgrown, weed-infested tangle due to your own neglect.

About 32% of buyers surveyed by Zillow expressed having buyer's remorse after purchasing a house that needs more work or maintenance than expected.

Lesson for buyers: Know your physical, psychological and financial limits and what you’re able and willing to take on.

2. They bought a home that’s too small

I wish we had given more thought to how we wanted to live in our home. We could have waited until we found one with a large kitchen and dining room. We love to entertain, and it’s hard to do when the kitchen is so small.

Think deeply about what makes you happy about your current home, and the kinds of things that bring you joy. Do you like building things? You might want to put a garage or basement work space on your must-have list. How about entertaining? Consider homes with enough space for cooking and hosting.

Lesson for buyers: Don’t get so fixated on buying any available home that you lose sight of what makes a home livable and comfortable for you. Keep a list with you when you’re shopping of the characteristics that are “must haves” and continue looking until you find one that hits the sweet spots.

3. They bought a home in the wrong location

I love my house, but we’re on a busy road and the traffic noise never stops.

Imagine buying a home for the peace and quiet it offers only to discover there’s a busy bus stop out front. Or maybe there's a nearby business district that draws throngs of people late into the night. Or, if you’re someone who likes to shop daily for fresh food, imagine what a chore that could become if the nearest grocery store is 15 miles away.

About a quarter (28%) of surveyed buyers say they would have shopped for and purchased a home in a different area.

Lesson for buyers: Visit the home at different times and different days to get a sense of the rhythm of life that surrounds it. Shopping in a specific neighborhood and planning to commute to work? Take a few test drives during rush hours to see what your commute is like, or take the bus or train to your destination.

4. They bought an older home that needs a lot of repairs

We bought an older home, thinking we could fix it up over time. But some things can’t wait. In just two years, we’ve had to replace the roof, dig up the side sewer, install a new water heater and rebuild the deck.

There’s one constant with homeownership: If it breaks, it’s your problem.

Lesson for buyers: Be sure to get an inspection or even a home warranty. Price out renovations ahead of time to leave room for the unexpected.

5. They didn't consider the total environment

When we were looking, we were so focused on the house that we didn’t give enough consideration to the surroundings. After two years of staring at my neighbors’ homes, I find myself craving privacy and acreage.

Think about what makes you happy about your current home. What’s missing that you’d pay a premium to have? Make a list of those things and check the home you’re considering against the list. Do you need a lot of light during the day? Make sure that you’re not in the shadow of large trees. Hate yard work? Consider the size of the yard and its composition.

Lesson for buyers: There are a lot of things you can change about a home. However, any structural change such as removing walls, adding windows or space is likely to be an expensive fix. Look for homes that have the qualities that are most important to you.

6. Not doing more research can cause home buyer regrets

We bought a newly built home, but didn’t do enough research on the builder or what we should expect when we moved in. The home wasn’t finished, and we had to spend a lot of time chasing after the builder to fix and finish things.

If you’re buying new construction , research the builder. If you’re buying an existing home, research agents and lenders to make sure you’re getting the best representation and the best value.

Lesson for buyers: Taking the time to research issues upfront can save you from home buyer's remorse. It’s worth spending the time to build your knowledge so you can make more informed decisions. This is especially the case if you're buying for the first time.

Other ways to help minimize home buyer regrets

Avoid distractions to avoid home buyer discontent down the road

“Buyers can get distracted by a pretty kitchen or great staging when they should concentrate instead on a home’s two biggest factors: its layout and location. It’s very tough to change both,” according to Seattle-based Zillow Premier Agent Lucas Pinto, team lead at the Lucas Pinto Real Estate Group, Compass. “A great agent can reframe a buyer’s home search and keep them focused on their priorities, helping them make a confident, informed purchase decision.”

Take a break

If you’re feeling stressed or burnt out from home shopping, take a break. Zillow’s buyer survey found that 59% of successful buyers and 72% of prospective buyers say they took a break from their home search. Both prospective and successful buyers who paused their search were most likely to do so because the type of home they wanted to buy became too expensive. Nearly three-quarters of successful buyers wish they had done at least one thing differently. And nearly 40% wish they had taken more time searching for a home or weighing their options.

Make sure you love your neighborhood

Shoppers also can use tools on all Zillow for-sale listings to calculate travel time to any location from the home. Listings also include walk scores and transit scores to help choose a location you’ll love.

Line up your priorities with your budget and stay realistic

Use a checklist to help establish your needs versus wants. Draft it ahead of diving into a home search, and keep it handy while you shop. When shopping with a partner, the right home should meet the needs of both people. This will help you avoid resentment and buyer's remorse after buying your house.

“It’s important to remember that even in a balanced market, most buyers have to make compromises to stay within their budget,’’ said Garcia, the population scientist at Zillow who conducted the survey. “However, to minimize home buyer regrets, aspiring buyers would be wise to establish where they’re willing to compromise and what’s a deal-breaker before shopping.”

Source: Zillow Blog

Watch Out for These 1031 Exchange Nuances That Could Ground Your Deal to a Halt

Mon, 27 May 2024 18:19:39 GMT

After almost a year of personally going through the 1031 exchange process, I can say that I am now an expert in all things 1031 , and you can trust me.

Many savvy investors know the main requirements of a successful 1031 exchange, which, when done correctly, allow you to defer substantial capital gains taxes . But when you actually dig into the process itself, you start to realize there’s a lot more under the hood than you may have seen at first blush. Here are some of the oft-overlooked finer points to keep in mind.

What Most People Know About 1031 Exchanges

Your new property needs to be of equal or greater value than the property you’re selling.
You have 45 days to identify a new property.
You have 180 days to close on that new property.

But Wait, There’s More

Your sale price must include your mortgage

This is the rule that many forget. If you are selling a $500,000 property but still owe $200,000 on your mortgage, you must exchange it for a property that costs at least $500,000, which means you will likely need at least a $200,000 mortgage on the new property too.

Mind the boot

If you sell your first property for $500,000 and you buy your exchange property for $400,000, that $100,000 delta is called “the boot,” and you can expect to pay capital gains on it. Don’t do this. Make sure your purchased property is the same or greater value than the one you’re selling.

Your new property has to be in the U.S.

No exotic Côte d’Azur purchase—for this exchange, at least.

You must use a third party

When you sell your first property, all proceeds must be held in escrow by the third party. If you touch them in any way, even for a day, you lose all tax benefit.

You can buy multiple properties

You are required to identify up to three replacement properties in the 45 days after your initial property closes. But there are two exceptions:

1. You can actually identify more than three replacement properties as long as the total value of all your identified properties does not exceed 200% of the sales price of your original property.

2. You can identify as many properties as you like as long as, in the end, you acquire at least 95% of their total value. (Your intermediary helps you legally record your target properties.)

When you die, so does your capital gains obligation

Yes, the tax gains are technically deferred, but death saves your kids from having to pay any deferred capital gains tax on your behalf. They inherit the property, and your deferral obligation disappears.

Final Thoughts

When all is said and done, the 1031 is still an excellent way to preserve your hard-won equity and kick the tax can down the road. But make sure you investigate all the rules and understand all the loopholes backward and forwards. One wrong move and you forfeit all your gains!

Source: BiggerPockets Blog

15 Reasons Why Real Estate is the Best Investment

Mon, 20 May 2024 19:18:20 GMT

Investing in real estate can feel like a big decision and one you shouldn’t take lightly, but it’s also one of the best decisions you can make.

You have many options for using your capital to grow your net worth and save for the future. Here are 15 reasons why real estate is the best investment.

1. It’s a Tangible Asset

Investing money can be scary for investors, especially when you can’t see or touch it, such as investing in stocks or cryptocurrency. On the other hand, you can see, feel, and even control real estate.

This gives investors greater peace of mind, knowing they can renovate, repair, or even sell the asset but still be in control.

When you sell stocks, for example, you have no control over their value. You are at the mercy of the market price and current demand. While a real estate market determines the property’s value, you can do more to increase the property’s value to earn greater capital gains.

2. Real Estate Provides Cash Flow

Trading your money for an investment is a big deal. When you don’t see anything from it until you sell the asset, it can be frustrating or even cause you to want to sell it just to see your cash again.

When purchased and used as rental properties, real estate provides cash flow. You earn cash from the monthly rent, plus, of course, any profits earned from selling the property.

While you must factor in vacancies and bad renters, you’ll likely have more consistent cash flow than with other investments, like stocks or ETFs.

3. Real Estate Is a Hedge Against Inflation

When inflation rises, the power of the dollar falls. As prices increase for various goods and services, so does the value of properties and rental prices.

If you own a rental property, you may be able to charge higher rents when the lease renews or you get new tenants. You’re also better positioned to earn higher profits when you sell the property during inflationary periods because of higher costs.

On the other hand, stocks typically decrease in value because companies often struggle during periods of inflation. Companies must charge higher prices to cover their higher costs, but with consumer spending down during inflation, stock values typically decrease.

4. Real Estate Investors Get Tax Deductions

Real estate investors are often eligible for tax deductions that other investors, like stock or bond investors, don’t get.

The most common deductions are for depreciation ( 27.5 years for residential buildings and 39 years for commercial buildings ), mortgage interest, maintenance and repairs, property taxes, and travel expenses.

Of course, tax deductions vary depending on the location, how you own the property, and other tax-related scenarios. Always consult your tax advisor to determine how to best file your taxes to take advantage of real estate tax deductions.

5. You Can Leverage Your Investment

Typically, you can only invest as much cash as you have, but real estate allows you to leverage your investment with mortgage financing.

For example, if you want to purchase a $200,000 home but only have $50,000, you may be able to put the $50,000 down and borrow the rest. This enables you to purchase a home for $200,000 without investing dollar for dollar.

While you can invest on margin with stock investing, it’s a more complicated scenario, and not everyone qualifies. Mortgage financing has more flexibility and is available to many investors.

6. Property Appreciation Is Likely

There are few guarantees in life when it comes to investing. You cannot guarantee or assume that a company’s stock value will increase or that the company will stay in business.

But you can count on property appreciation if you do your due diligence and invest in an area where property values typically appreciate.

As mentioned, you also have a certain level of control regarding property appreciation, as you can force it by upgrading or renovating the property. Working with a reputable real estate agent can ensure you invest in an area with appreciating values.

7. Real Estate Doesn’t Correlate With the Stock Market

The No. 1 rule in investing is to diversify your portfolio, which means don’t put all your money in one type of investment, such as stocks. Diversifying your portfolio with real estate increases your chances of seeing capital gains, no matter what happens in the market.

This means if the stock market crashes, real estate won’t necessarily follow, ensuring your portfolio isn’t a total loss, even in a challenging market.

8. Real Estate Investing Can Be Hands-Off

If you’re hoping for a hands-off investment, you can invest in real estate passively . Here are a few ways:

Purchase a rental property and pay a property management company to handle the day-to-day operations.
Invest in real estate investment trusts (REITs), earning a portion of the company’s profits while they purchase and manage properties.
Invest in real estate crowdfunding , which is a group investment in real estate, paying you some of the profits according to the amount of your investment.

9. Cash Flow Can Be Predictable

If you invest in the stock market, you cannot predict how much you’ll make. There’s usually no cash flow unless you invest in dividend stocks, and even those aren’t predictable because you don’t know how much profit a company will earn or what dividends they’ll pay.

Real estate allows predictable cash flow because you control how much rent you charge and any other monies you collect. While you can’t predict your capital gains to the dollar, you know how much money you’ll bring in monthly.

10. You Build Equity Over Time

Whether you leverage your investment with a mortgage or pay for the property outright, you build equity by paying down the mortgage and/or the property’s natural appreciation.

Equity is the money you’d earn if you sold the property today. The equity increases your net worth and typically increases each year you own it.

11. You Have Many Options

Real estate investors have numerous options to invest in. We discussed the passive opportunities, including REITs and crowdfunding. If you’re looking for an active real estate investment, your options include:

Buy and rent properties to tenants.
Purchase commercial properties, renting to businesses.
Fix and flip properties , earning a fast profit.

12. Real Estate Investments Provide Security

There’s not much to feel secure about when you invest in stocks. You’re taking a chance on a company, hoping it succeeds and its stock value increases, but it’s a gamble.

When you invest in real estate, you have a tangible, appreciating asset. This provides peace of mind knowing you have this property that, if necessary, you could sell and liquidate your investment, or hold on to it and keep it growing.

13. You Can Borrow Against Real Estate

When you build equity in your real estate investments, you may be eligible to borrow against them. This decreases your property equity but allows you to liquidate a portion of your investment without selling it.

To liquidate your investment in stocks, you must sell your shares; you can’t borrow against them while still owning them and allowing them to continue appreciating like real estate.

14. Real Estate Investments Can Benefit the Community

Even though you’re likely focusing on yourself and the reasons real estate is the best investment, it’s good for the community, too.

When you purchase, renovate, and maintain a property, you help the area’s property values. It also provides another viable property for families to use, helping to improve the community.

15. Real Estate Investing Can Be a Business

Stock market investing is simply investing. You don’t get special tax deductions or treatment for it. Real estate investing, though, can be a business that you actively participate in, growing your portfolio and making a living for yourself and your family.

Final Thoughts

These 15 reasons why real estate is the best investment are reason enough to diversify your capital and invest in real estate.

Whether you’re looking at your first real estate investment or you want to expand your portfolio, there are numerous benefits for doing so, giving you access to equity, cash flow, and a tangible asset that gives you control.

Source: BiggerPockets Blog

15 Home-Buying Myths to Unlearn Right Now

Tue, 14 May 2024 15:46:35 GMT

Home buyers have access to a wealth of information about the home-buying process before they even begin talking to a real estate agent . Friends and family, social media — everyone has a lot to offer. While much of this guidance can be solid or well-intentioned, some of it may be outdated or inappropriate for your situation. With that in mind, Zillow asked 112 loan officers to share the most common misconceptions they hear from first-time home buyers. Based on their feedback, and input from other real estate experts we talked to, here are the top 15 myths you should be aware of, along with some truths to set you on the right path.

Myth #1: You need a 20% down payment

Fact: A 20% down payment hasn't been required to buy a home for decades, if ever.

The 20% myth topped the list of misconceptions cited by 71% of the loan officers in our survey, while 65% of those surveyed said borrowers’ most frequent question was about how much of a down payment was needed to buy a home.

Many home loans allow a down payment as low as 3%, as long as you’re borrowing less than the so-called “conforming” loan limit for the county where the home you want to buy is located . The limit for most counties is $766,550, as of 2024 . Although down payments of less than 20% are common, keep in mind you will need to pay PMI (private mortgage insurance) on a conventional loan if you put down less than 20% of the home’s purchase price. To see an estimated calculation of your PMI based on your loan and down payment amounts, try our Mortgage Calculator .

Here's a quick overview of some loan types with low down payment options:

HUD/FHA loans allow a 3.5% minimum down. HUD/FHA loans are insured by the Federal Housing Administration (FHA), within the U.S. Department of Housing and Urban Development (HUD).

USDA/RD loans don't require a down payment. USDA/RD loans are backed by the Rural Development (RD) arm of the U.S. Department of Agriculture (USDA).

VA loans also allow 0% down. VA loans , primarily for active-duty and veteran military members, are guaranteed by the U.S. Department of Veterans Affairs (VA).

Small, specialty loan programs may also permit very low down payments. One example is a HUD Homes program in Florida that allows just $100 down for qualifying buyers with FHA financing.

All mortgage loans are subject to the lender's guidelines, requirements and restrictions. Ask your mortgage loan officer for details .

Myth #2: Your pre-approval rate is the rate you'll get when you close

Fact: Interest rates adjust daily. The rate you're quoted when a lender pre-approves you for a mortgage is based on current market conditions as well as factors like your loan amount, credit score, property type and where the home is located. In general, your actual rate can't be "locked in" until you find a home and sign a purchase contract with the seller.

“At that time, your loan officer can explain your options and help you choose a rate,' says Wesley Black *, manager for mortgage originations at Zillow Home Loans ℠ in Irvine, California.

Your locked-in rate may be higher or lower than your pre-approval rate. But be aware that locked-in rates can expire, so you should ask how long yours will last.

Myth #3: You should wait to buy a home until prices are lower

Fact: Buying a home after a big run up in prices may seem risky, but waiting carries risks as well.

“Price growth is soft for sure, but for a vast majority of areas, prices aren't likely to fall, ' says Zillow® Chief Economist Skylar Olsen. “There are simply enough buyers, even at these prices and mortgage rates, and not enough homes listed for sale. And while mortgage rates should move a bit below where they are now in some distant future, myself and other experts keep putting off when we expect that to happen. If buyers find themselves able to find and win a home they'd like to commit to for the long run and are able to afford it, they can feel comfortable moving forward. In popular neighborhoods, we cannot necessarily promise a more friendly time to buy in the future."

Myth #4: Buying a home is always cheaper and a better investment than renting

Fact: Depending on where you live, renting a home can be cheaper than buying one, and home prices don't always go up and up in a neat, straight line.

Rents and mortgage payments are much closer than they have been in the past, and, in a majority of the nation’s top 50 metros, rents are cheaper than mortgages — even for a comparable home.

However, a home you own is an asset that can appreciate over time, provide a relatively stable monthly cost and create generational wealth.

Olsen says there are benefits to each option. How the math works out for any individual depends in part on what you expect from the market, how long you expect to live in the home and what kind of lifestyle you’re looking for.

To read more about the benefits of each option, check out The Pros and Cons of Renting vs. Buying a House .

Myth #5: You should find a home before you apply for a home loan

Fact: Getting pre-qualified for a loan before you shop for a home is not just okay, it's smart.

This myth is a pervasive one, with 66% of loan officers in our survey citing it as the second most common question borrowers ask them.

Once you're pre-qualified or pre-approved for a mortgage, you'll have an idea of how much you can borrow to buy a home. Then you can shop for homes in your price range and you won't fall in love with a home outside your budget. If you're not able to get pre-approved, you'll find out what you need to do to position yourself so that you can.

Myth #6: Buying a fixer-upper will save you money

Fact: True fixer-upper homes need a lot more than a fresh coat of paint. These homes generally have major problems, some of which may not be visible. Even a skilled home inspector can't see inside walls.

“If you're looking into a fixer-upper, you should get quotes on the repairs needed beforehand,” says Korenn Meno **, a mortgage loan officer at Zillow Home Loans in Seattle, Washington. “You'll have to be patient, good with finances and willing to sacrifice all your spare time to work on your home or pay someone to get your home fixed up.'

You may end up with a home you love, but you probably won't save money with this strategy. ( Take our quiz to see if tackling that fixer-upper is really right for you!) If you’re keen on finding a fixer, we suggest reading How to Find, Afford and Improve a Fixer-Upper on what’s involved in buying a fixer-upper.

Myth #7: You have to get your loan from the lender who pre-approves you

Fact: A pre-approval is a great starting point for getting a mortgage, but you're not obligated to stay with that lender. You can shop around for a lender that makes a competitive offer and is a good fit for you.

Keep in mind that it’s best practice to shop for a lender before you go under contract or lock in a rate. Once you are under contract and have completed inspections and appraisals, it’s usually not a good idea to shop around for a new lender. If you do, you will need to notify the seller's agent of the change. Any delays or changes could put you at a higher risk of getting your offer rejected by the seller.

Myth #8: You shouldn't buy until you can afford your 'forever' home

Fact: Selling a home can be costly , but if you wait to buy until you can afford your ‘forever' home rather than buy a lower-cost ‘starter' home, you may never buy at all.

Or in the relatively more affordable markets where appreciation is still happening, you may miss out on years of equity building that could offset your selling costs when you trade up to your forever home.

Caveat: Considering a home you already know that you'll outgrow in the very near future? It may make sense to wait until you find a home where you can stay for at least five or more years.

"Over-committing to waiting without exploring your current options and how they may change with this ever-changing market or without taking proactive steps, like credit counseling or exploring down payment programs, may be the bigger strategic mistake,’’ Olsen says. “Existing housing from older generations will continue to return to the market in ideal neighborhoods for many families. But it is true that the financial benefits of buying accrue over a longer time now that mortgage rates are higher."

Myth #9: A 30-year, fixed-rate mortgage is always the best choice

Fact: Depending on rate movements, adjustable-rate mortgages (ARMs) can save thousands of dollars of interest over the life of the loan compared with a fixed-rate. ARMs have an initial fixed-rate period, and then can adjust up or down, resulting in monthly payments that can change over time.

This misconception was cited by 16% of the loan officers in our survey as one of the top 10 questions they hear from borrowers.

“Finding the right loan program and term is kind of like picking an outfit,” says Black. “Everyone is going to want or need something slightly specific to fit their unique situation.”

ARMs aren't a fit for everyone, but for many, they are worth considering.

Myth #10: You can't buy a home if you have student loans

Fact: Student loans can both help and hurt your chances of buying a home.

The potential help comes from boosting your credit scores, if you make your payments on time. The potential hurt comes from raising your debt-to-income ratio, or DTI , which is a factor in loan approval. Student loans are not an automatic barrier. They're just another form of debt that's part of your DTI calculation . Many people have student loans and a home mortgage.

For tips on how to buy a home when you have student loan debt, check out Can I Buy a Home With Student Loan Debt .

Myth #11: You have to pay the seller's asking price to buy a home

Fact: The seller's asking price is the amount the seller hopes you'll pay, but it's not necessarily the price you'll actually pay.

This may seem obvious, but home prices are typically negotiated with offers and counter-offers until you and the seller agree on a price. Be sure to ask your agent for “comps” for a home you’re interested in — this is a report of prices of recently sold, similar homes nearby — in order to draft a competitive offer or understand whether the listing price fits in your budget.

Myth #12: You need excellent credit to buy a home

Fact: Good home loans and attractive rates are available for people with less-than-perfect credit as well as those with excellent credit. This is likely to come as news to a lot of borrowers since half of the loan officers surveyed cited it as the third highest misconceptions among prospective buyers.

Who can't qualify? People who develop a habit of always paying cash for their purchases. “Establishing positive tradelines and using credit responsibly is what we're looking for,' says Casey Godwin ***, a mortgage loan officer for Zillow Home Loans in Overland Park, Kansas.

Myth #13: Fall and winter are bad times to buy a home

Fact: Fall and winter can be advantageous times of the year to buy a home .

Spring is sometimes called the “home-buying season” because many families prefer to move when their children are out of school for the summer. That doesn't mean you have to buy in the spring or that you'll pay less if you do.

Myth #14: You cannot buy a home if you are self-employed

Fact: Nearly one-fourth of loan officers surveyed said this was a common misconception among borrowers. You absolutely can buy a home if you’re a self-employed freelancer or gig worker or business owner. But the rules for getting a mortgage are different for those who receive a W-2 from an employer versus those who receive a 1099-NEC , which reports non-employee compensation.

Lenders will generally require more documentation of income if you’re self-employed, including recent invoices and proof of a steady income over a longer period of time. To learn more about what might be required, read this guide to getting a mortgage when you’re self-employed .

Myth #15: All lenders are the same when buying a home

Fact: Getting a mortgage is more than an exercise in rate shopping, and there are significant differences among lenders when it comes to the customer service, the ability to close on time and the fees attached to their loans.

Nearly a third of loan officers surveyed (30%) say borrowers falsely believe that all lenders are equal. While getting the best interest rate is rightfully a top concern for home buyers, most lenders offer a variety of competitive rates and loan products.

However, fees can vary widely and some lenders have a better track record for closing on time, communicating regularly though buyers’ preferred methods, including text and email, and making things easier on borrowers with technology to keep the process moving smoothly through closing.

For instance, with Zillow Home Loans, buyers and their agents can check on the status of their loan online, increasing visibility into the process and reducing the stress that can be generated when you’re in the dark about what’s going on.

Source: Zillow Blog

Avoid Paying Unnecessary Fees by Lowering Your Closing Costs—Here’s How

Mon, 06 May 2024 18:47:51 GMT

The hardest part’s over because you’ve found the perfect house. Now you have to go through negotiations to buy the house and determine your closing costs.

Closing costs are expenses in the home-buying process that typically equal 2% to 5% of your loan’s value, which can make them very pricy if you’re buying an expensive property.

Borrowers might be able to reduce closing costs with the right negotiation tactics. Wondering how to lower closing costs? Here are several tips to try before you sign off on your purchase.

What are closing costs?

Closing costs are fees that occur when finalizing a real estate transaction on the sale or purchase of a house. Once the property is transferred into your name, these fees are due. Both homebuyers and sellers pay closing costs, but it varies who pays closing costs and how much they pay.

A home loan amount, a property’s location, and a home buyer’s credit score are some of the factors determining closing costs. Some state laws also require professional services that increase a transaction’s closing costs.

Many closing costs are negotiable among homebuyers, sellers, and mortgage lenders. If you’re buying a property, it’s crucial to research and shop around for home loans before choosing a lender.

Can closing costs be negotiated?

There is some negotiation possible, and the following includes ways to possibly lower your closing costs.

Did you review your loan estimate form?

Before you close on your home, your chosen lender will provide you with a contract covering all the details of the agreement. In it, you’ll find information such as your monthly payment amount and interest rate, as well as the percentage owed for closing costs. Remember that things like a low credit score can contribute to a higher interest rate, so try to have more than the minimum credit score.

In reviewing these numbers, you might find that your closing costs are higher than what you’re willing to pay. Don’t hesitate to shop around at other banks and lenders, which might offer you a better deal, including lower closing costs.

Did you research lender fees?

Double-check the lender fees you have to pay to obtain your loan, as you can sometimes save money here, too. Your lender will charge an origination fee. You probably can’t get out of paying this, but your loan agreement could contain other negotiable fees. There’s no harm in asking your lender about these.

This is an area in which it would help to have other loan possibilities for reference. If your chosen lender tacks on more fees, show them your options and negotiate a lower rate or move on to a new lender.

Do you know what you are paying for?

It’s vital to understand closing costs before you go into negotiations. Of course, you have your responsibilities as the buyer—you must pay the application fee, attorney fees, credit report fees, and more. But you should also know what the seller should cover on their end of the deal.

For example, they should contribute to the closing costs, especially when the market is working in the buyer’s favor. To that end, the seller should also cover the real estate agent commissions.

Can you add the closing costs to your mortgage?

You can lower or avoid paying closing costs upfront by folding them into your mortgage. Some lenders will be open to this option, wherein they pay the closing costs for you upfront and then tack that price into your home loan.

This will save you cash in the short term, but you will end up paying more for your closing costs over time since your loan repayments will come with added interest.

Did you look for financial aid?

First-time homebuyers might be able to get a bit of financial relief when they purchase a property. Many grants can help lower the costs of the home-buying process to encourage more people to get into the real estate market.

For instance, if you choose a Fannie Mae loan to buy one of their foreclosed properties, you might be eligible for closing costs as low as 3%. There are also loan programs for those who have, for example, poor credit history, a low down payment, or veteran status.

Local governments or nonprofit organizations may also provide grants for the home-buying process. These programs mostly favor first-time home buyers, and they help cover your down payment and/or closing costs.

Did you research vendors?

As soon as you get your loan, skip to the part where it describes the vendors who can help you through the closing process. Sometimes the people selected by your bank will charge more than ones you can find yourself.

Do your due diligence to ensure you have the least expensive vendors possible. You can ask your lender for other potential vendors they might not have listed on the loan. This research could save you hundreds of dollars in closing costs.

How to lower closing costs

When figuring out how to lower closing costs, it’s most important to understand where you can save money. Even though each real estate deal is different, there are typical closing costs that homebuyers can expect.

Application fee: Before applying for a mortgage, ask your lender if they charge an application fee. If so, make sure you understand what it covers. Application fees are sometimes negotiable, but you might need leverage in your negotiations. That’s why it’s essential to shop around and know what other lenders charge for an application fee.

Appraisal: In most deals, you’ll need to pay an appraisal company to assess the property’s fair market value. Sometimes though, you won’t have to pay this fee, so be sure to discuss with your lender.

Association dues: If you’re buying a property in a homeowners or condo association, you may have to pay your annual association dues at closing. The buyer and seller can split this cost, and you may owe only a prorated amount of the association’s annual dues if you buy a property partway through the year.

Attorney fees: Some states require lawyers to review a real estate transaction’s closing documents. If so, both the buyer and seller have their own legal representation.

Courier fee: Your lender may use a courier to deliver documents required to close a deal. Doing so can expedite finalizing the transaction, but you may pay for this courier fee as a result.

Credit report fee: Your mortgage lender will run a tri-merge credit report. The reports are your credit scores and history from the three major credit bureaus. Depending on the lender, you may not get charged for this, but you’ll have to ask.

Discount points: These “points” represent money you pay your lender at closing to receive a lower mortgage rate. One discount point equals 1% of your home loan amount in exchange for dropping your interest rate by 25 percent. For example, if you pay your lender $1,000 on a $100,000 mortgage loan, your 4% interest rate drops to 3.75%.

It’s important to have a conversation with your lender about what your options are with these points, especially since points are not required. Using points makes sense on paper but paying more upfront may not work for everyone. For those who don’t plan to live in their home long-term or are likely to refinance, this isn’t the best option.

Escrow deposit and fee: Many lenders require you to have an escrow account for your expected property taxes and homeowner’s insurance premium. Your lender makes your insurance and tax payments for you using the money you deposit into your escrow account.

If you’re required to set up an escrow account, a title company, escrow company, or a lawyer will manage the process. They’ll charge a fee for doing so. Often, home buyers and sellers agree to split this cost. You can ask about these costs upfront to make sure they fit within your budget.

(Pro tip: It’s always a good tip to confirm with your city or county that your taxes have actually been paid!)

Flood hazard determination fee: The U.S. government requires a flood risk assessment for all real estate transactions. A third party handles the evaluation, and they’ll charge you a fee for their service. You’ll have to pay for flood insurance if they determine your property is in a flood zone. Be sure to keep this possible expense in mind when choosing a property.

Homeowner’s insurance: Homeowner’s insurance is usually not required by law, yet most lenders require it. It is a good idea to have it in case of damage to the property, and you’ll usually pay your first year’s insurance premium at closing.

Mortgage broker fee: You can hire a mortgage broker to help you find mortgage loans. If you do, they’ll charge you a commission based on the percentage of your loan amount. This is usually between 0.5% and 2.75% of the property’s purchase price. To save money, you could look for loans yourself.

Origination fee: Most lenders charge a loan origination fee when processing your home loan application, which is usually 1% of your loan amount. Not all lenders charge an origination fee, however, so, again, it’s essential to research different mortgage lenders.

Upfront: You pay the entire cost of your PMI at closing.
Split: You pay part of your PMI costs upfront, and your lender folds the balance into your monthly mortgage payment.
Monthly: You pay nothing on your PMI at closing, and your lender adds your entire PMI balance to your monthly mortgage payment.
Lender-paid: Your mortgage lender covers your PMI costs in exchange for raising your interest rate; this method can save you money at closing but cost you more over time.

Recording fees: Local governments require a copy of your title before it will recognize you as the property’s legal owner. Your title company usually handles this transaction, and they’ll charge you a fee for that service. However, that’s not always the case, so be sure to ask.

Title search fee: Before you can purchase a property, someone must verify its ownership. A title company handles this process, ensuring no one else can claim the property after you purchase it. The company charges a fee for this service, and it often comes hand-in-hand with title insurance, which protects the buyer from future claims against the property. This fee varies by location and property; it ranges from $200 to $1,000. You can save money by searching for a title company within your budget.

Overall, to save money, you should compare lenders and their fees to make sure you’re getting the best possible deal. You’ll see these fees on a document called a closing disclosure. These are the different costs to consider when buying a home.

Source: BiggerPockets Blog

11 Home Improvement Projects That Don't Add Value

Mon, 01 Apr 2024 19:14:09 GMT

Some improvements have limited appeal to home buyers, and may even affect your sale price when you go to sell.

One of the best things about owning a home is the ability to change things up, whether it’s knocking down a kitchen wall to open up space or filling your backyard with your favorite fruit trees. That freedom also offers unlimited opportunities to make mistakes, at least when it comes to spending money on home improvements that don't add the value you’d hoped for.

Of course not all home improvements are made with an eye toward adding value. Your home is your castle to enjoy as you please. If, however, you’re planning to sell soon , it might be a good idea to consider whether the improvement projects you’re considering will pencil out when you’re ready to move on.

Don’t expect a dollar-for-dollar return

Modest home improvements that tend to make the home cleaner, safer and more functional are good bets for sellers, according to Zillow® research. However, big-ticket items, such as pools, major kitchen and bath remodels and extensive landscaping undertaken for the sole reason of adding value might not bring the return you hoped for.

According to the Remodeling 2023 Cost vs. Value Report , which estimated the return on investment on some common home improvement projects, only four improvements boosted value on resale: electric heating and air conditioning conversion, garage door replacement, manufactured stone veneer and replacing a steel entry door.*

What’s more, Zillow research into home features that help homes sell for more — or less — than expected shows that buyer preferences change over time. So a trendy home update made today for the sole purpose of adding value can seem dated — or even detract from the value — in five or 10 years.

With that in mind, here are 11 home improvements that might not pay off when you sell your home.

1. Turning your kitchen into a white wonderland

According to Zillow research into the paint color preferences of home buyers, a white kitchen can hurt a home’s sales price by more than $600. Instead, today’s buyers tend to prefer dark gray tones such as charcoal and graphite.

If you don’t care about the trends at the time of resale or if you plan to repaint prior to selling, you might consider how you want to feel in any given room and paint accordingly. Or you can just go wild.

2. Adding a walk-in closet

Zillow’s 2024 research into home listings shows that walk-in closets can hurt a home’s value by 0.7%, a relatively small amount but an indication that it might not be worth the cost to add a space where you can see all your clothes. If you’re tempted to turn a small bedroom into a closet, think twice before doing so. Home shoppers usually search for homes based on the number of bedrooms, and a homes’ value is derived in part from the number of bedrooms it has. Bottom line: a bedroom is going to be more valuable to most buyers than a walk-in closet.

3. Adding a deck

A wood deck costs about $17,051, but this home improvement does not add value overall — it only adds $8,553 at the time of sale, a return of about half what you’ll spend, according to the Cost vs. Value report. The cost is even higher for composite materials, and the return even lower: just under 40%.

This is one of those features, though, that might transcend costs considerations. If you love a good deck for entertaining, it could be worth it to build it for your own enjoyment, without worrying about whether you’ll get a full return on your investment down the road. And if the deck improves the view from the property, it could make the home more attractive to buyers while allowing you to enjoy a better view in the meantime. Also, home buyers’ enthusiasm for outdoor features remains high, so anything that enriches home life outdoors could be a win.

4. Turning your garage into a bedroom

While bedrooms are certainly important, you might not want to sacrifice a garage to create one. Listings that mention garages are associated with a slight sales premium: 0.3%, according to Zillow’s 2024 analysis of listings data. Parking is often tight in urban areas, and with the high price of cars, homes that allow for safe parking could have an edge over homes without a garage that can also serve as a handy storage space.

An exception could be if you converted the space into an Accessory Dwelling Unit , also known as an ADU, casita or mother-in-law unit. Zillow research shows that growing numbers of buyers want the ability to rent out all or some of their home . Additional Zillow research suggests that private spaces are growing in demand, and sellers are mentioning “privacy” or “private spaces” in their listings more frequently than in the past. If your home is short on private spaces, it could make sense to convert the garage.

If you’re trying to gauge whether a garage is a must-have for most buyers in your local market, consult a local real estate agent .

As for that extra usable space that was a must-have during the peak of the COVID pandemic, when people who could work from home did so, it’s possible the return to office work will see a slowdown in listings that mention private space.

5. Installing an in-ground swimming pool

This one is a mixed bag. Whether the pool becomes an asset or a liability depends on a number of things, including the pool’s size, age, condition, location on the property and housing market. The main drawback is the cost, and the fact that other projects would be a greater return for the same money.

An in-ground pool can set you back about $23,370, according to the home services website Thumbtack, which calculated the national average cost of installing a pool over the last four years. Add in fencing and landscaping, and you’re looking at an investment of nearly $30,000, according to Thumbtack.

If you’re a pool person, that is money well-spent. If you’re not, you’re not likely to recoup the cost of building one. A Zillow analysis of 2023 home sales found that homes with saltwater pools sell nearly three days faster and sell for about $5,238 more than comparable homes without one.

But depending on the climate, prospective buyers might not want to spend the time and money and vigilance it takes to keep a pool clean and safe. This could translate into fewer views and offers when you go to sell.

6. DIY — done badly

We love DIY , and there are plenty of projects you can do yourself to improve your surroundings. But there’s also a reason skilled tradespeople command high prices. Their expertise helps ensure beautiful outcomes that a new buyer isn’t going to have to spend money to redo. When you’re DIYing something for the first time – tiling a bathroom, for example, or installing a hardwood floor – there’s a learning curve that you should account for.

If you have a hankering for a feature, and want to see what you can pull off with your own labors, make sure you have the skill to tackle it. Spending big money on materials isn’t going to feel too good if the outcome is poor.

7. Creating a luxury bathroom

Bathroom remodels are some of the most expensive improvements you can undertake. Even a simple bathroom remodel can set you back more than $20,000, and won’t necessarily pay for itself when you go to sell. But the more luxury bells and whistles you add, the lower your return on investment.

For example, the cost report estimates a $24,000 mid range bathroom remodel would provide about a 67% return on investment, but an upscale one would return only about 37% of the $77,000 such a remodel could cost.

8. Wall-to-wall carpeting

Carpet has a lot of upsides, especially when it comes to warmth, and there are a ton of new styles and textures to spice up any space. But carpeting isn’t as popular as some other flooring options. For-sale listings that mentioned new carpet sold for slightly less (0.4% less) than comparable homes without it.

Buyers, however, are willing to pay a small premium (1.2%) for luxury vinyl flooring. So if you’re thinking of floor coverings, and you like the feel of carpet on your feet, consider whether you’ll get the same enjoyment from an area rug.

9. Bamboo flooring

Bamboo is a relatively inexpensive and more sustainable form of flooring, but it, too, has fallen in popularity. Listings that mentioned bamboo floors sold for 0.8% less than comparable homes.

10. Laminate countertops

Changing up countertops can transform a kitchen or bath, but one material never seems to make it to the list of trendy or popular materials, and that’s laminate. Although there are some attractive options that mimic natural and made-made stone for a fraction of the price, homes sold in 2023 that mentioned laminate sold for 1.1% less than comparable homes.

11. High end fixtures

If you’ve got the money and derive pleasure from eye-catching fixtures, go for it. But it’s unlikely someone is going to buy your home because they’ve fallen in love with your $3,000 chrome faucet or light fixture. Consider choosing cost-efficient, attractive, well-made fixtures for updates instead.

Home maintenance has a big impact on home values

A well-maintained home can sell for about 10% more than a similar home in average condition, according to Thumbtack research .

So while improvements can add value to your home, regular maintenance will keep your home in better condition so that there are fewer improvements to tackle when you do decide to sell. Some things to keep an eye on: cleaning gutters, resealing grout in the kitchen and bath and having heating and air conditioning systems serviced regularly.

Source: Zillow

What Hurts Property Value? 7 Things to Address Now

Mon, 25 Mar 2024 21:17:46 GMT

Property values fluctuate as a result of many factors, and as a homeowner, it’s important to be aware of factors that can drive home value down. Some of these factors are out of your control, such as market conditions, interest rates, and the economy, while others are very much in your control. From unappealing renovations to neglecting maintenance on your home, some projects, or lack thereof, can negatively impact your property value. It’s best to be aware of what hurts property value so you can protect your home and get the most ROI when it comes time to sell.

1) DIY projects gone wrong

Many homeowners take on home improvement projects to not only make their space more livable and enjoyable but to also add value to their greatest investment. Whether it be a bathroom addition, adding a deck, or purchasing a fixer-upper with the promise of profit for flipping it – most people start a project with the idea that it will increase the value of the home. As exciting as the projects may be, they can sometimes turn out not as expected and hurt your property value.

Are you wanting to build a deck, extend the kitchen, or remodel the bathroom? Even if you’re an expert at smaller DIY projects, it’s better to leave the bigger remodels and renovations to a professional. If not executed properly, they can hurt your property value.

2) Lack of curb appeal

First impressions make a difference when selling a home. So, your curb appeal should entice prospective buyers and help your home sell faster. If you’ve noticed the exterior paint is chipping off or your trees and shrubs have seen better days, chances are potential buyers will notice too. Luckily, you can achieve great curb appeal with some minor adjustments.

Update the exterior paint. The color of your home is oftentimes one of the first things a buyer will notice. Faded, chipped, and flaking paint can dramatically decrease your curb appeal and hurt your property value.
Update the exterior lighting. If the pathway leading to your front door is dimly lit or your fixtures are outdated, now is the time to update the exterior lighting. Exterior lighting helps your home feel more inviting and complements your landscaping. From post lights, LED lights, solar lights, and wall mounts, the options are endless.
Switch out your old fence. Worn fences are an eye-sore and can take the attention away from your home and hurt your property value. Replacing your fence for a new one can give your yard the boost it needs by enhancing the greenery, and showing prospective buyers that you care. Fencing comes in a variety of different options such as wood, vinyl, aluminum, wrought iron, and composite. Consult with professionals to determine what material is best for you.
Landscaping. When selling your home, it’s best to go with an easy-to-care-for and clean landscape design to appeal to buyers, and increase the property value of your house. Simply edging the beds, mulching the garden, and pruning the trees and hedges can transform any landscape.
Wash the windows and the siding. It doesn’t take long for your house and windows to form a layer of dust, dirt, fingerprints, or even algae. This can leave your house looking dingy and gray and hurting your property value.
Replace your front door. It’s no surprise that front doors quickly begin to look worn and tired with daily use and harsh weather. Replacing your front door is a quick and cost-effective way to add curb appeal or add a pop of color to your home.

3) Unsightly interior wall paint

Just like exterior house paint, streaky, chipped, or low-quality paint could discourage potential homebuyers and hurt your property value. A fresh coat of neutral paint on the cabinets, walls, and trim can make all the difference. Busy and bright wallpaper, tiles, or flooring can also divert the attention of the buyers away from your home. The best rule of thumb is to always choose neutral options for permanent items. Then incorporate color with your décor and furnishings.

4) Lack of upkeep

It’s important and necessary to keep your home in great condition and regularly perform general home maintenance chores. Letting your home fall into disarray and neglecting it will hurt your property value and could have consequences on your list price. Buyers will want to negotiate repairs to avoid any major expenses following the sale. This is why most buyers require an inspection contingency in their contract.

If something breaks, be sure to fix it. And if you don’t know how to fix it, hire someone who does. This will prevent any issues from getting out of hand. It’s often more expensive to remedy any problems the longer you wait. Keep an eye out for any problems with your roof, foundation, HVAC system, gutters, and if a rodent or pest infestation emerges. If you develop any of these issues it’s important to hire a professional immediately.

5) Carpet everywhere

Your carpet will be in great condition during the first few years of owning your home, but will quickly begin to show signs of use, start retaining odors, and can be difficult to keep clean. Not only will buyers be wary of wall to wall carpeting because it can be expensive to replace, but it can also collect indoor allergens . If possible, it’s best to stray away from carpet and opt for hardwood, laminate, or tile flooring.

6) Excessive clutter

Every home manages to accumulate belongings throughout the years, and you usually don’t realize just how much clutter you’ve collected until you’re about to list your home. Just as dirt and grime build-up, so can clutter. If your room is overcrowded with stuff, it’s a good idea to clear some of your belongings out. Donate items you no longer need or want, and find hidden, permanent homes for the items you use just once in a while. Decluttering is an inexpensive way to add value.

7) Unpleasant smells

Not only do offensive smells leave a bad and lasting impression, but they can also hurt your property value. Whether the lingering odor is cigarette smoke, pet odor, or mold, it’s best to identify the root of the smell and eliminate it. Avoid masking the smell with a strong perfume or fragrance. To avoid unpleasant smells altogether, it’s best to keep your home clean. Routine cleaning includes vacuuming and dusting regularly, wiping down countertops and surfaces, and cleaning the bathroom and kitchen.

Source: Redfin Blog

Can I Buy a House With Student Loan Debt?

Mon, 11 Mar 2024 18:00:53 GMT

Loan officers break down what you need to know about student debt and owning a home.

Student loans are undoubtedly a daunting financial obstacle, so it’s only natural to feel like they’re holding you back from owning a home. But buying a house with student loan debt is possible. Whether or not you should get a mortgage with student loans will depend on the amount of debt you have and what your personal financial situation looks like, including factors like your income, savings and credit score.

Steven Park and Kathy Argento , mortgage loan officers with Zillow Home Loans, both say owning a home while paying off student loan debt is far more common than many might think.

“If you have a stable source of income and can manage your finances, student loan debt shouldn’t stop you from home ownership,” Park says.

Minimum payments for student loans can be very manageable alongside a mortgage payment, Park adds, depending on how much you owe. And while being debt averse and wanting to pay everything off might seem like the responsible thing to do, it may ultimately lead to missed opportunities.

We asked Park and Argento some of the biggest questions about buying a home while paying off student debt.

Can you get a mortgage with student loans?

It’s not uncommon for a first-time home buyer to have anywhere from $30,000 to $100,000 in student loan debt and still qualify for a mortgage, Park says. “We approve people with student loan debt all the time,” Argento adds.

Like any other kind of debt, the student loans will simply be part of an applicant’s total debt obligations and credit profile for qualifying purposes. The same considerations apply to car payments, credit card payments and any other personal loans. “It just simply must be counted into their debts,” Argento says, “whether or not they are currently deferred.”

Argento emphasizes, carrying student loan debt should not prevent you from considering buying a home. Instead, talk to your loan officer about how your student loan payments may factor into your application.

Factors that impact buying a house with student loans

Here are some important factors your loan officer may review with you.

Your debt-to-income (DTI) ratio

A debt-to-income ratio is the percentage that compares your monthly debt payments to your monthly gross income, giving you a realistic perspective on what you can and can’t afford.

A DTI ratio of 36% or less is generally considered ideal because it will show your lender that you’re not overstretched financially. That said, many lenders will lend with DTI ratios higher than 36%, depending on the borrower’s credit profile, desired loan amount, and other factors. You can use Zillow’s DTI calculator to get a realistic estimate of your personal debt-to-income ratio.

Argento says outstanding student loans have the potential to reduce your purchasing power, depending on the broader financial situation you’re facing. “You should consider paying off your student loans if your debt-to-income ratios are so high, they prevent you from buying a home at your desired price point,” she says.

But they also might not be hurting your purchasing power at all. It depends on your income, the actual purchase price of the home, any other debts you might have on your credit report and the cost of your new monthly house payment.

Your credit score

Loan officers will consider your credit score when you apply for a mortgage. Paying student loans on time can affect your credit score, which is why it’s important to make timely payments to keep your score strong .

Your savings

When money that you would normally put into savings is going to your monthly debt payments, it can be harder to save for other things — like a down payment or closing costs on a home. Some mortgages do require as little as 3% for a down payment — or even 0% down with a VA loan — but the more you have saved, the more flexibility you’ll have when it comes to purchasing power.

While it may not seem that way, saving for a down payment can still be an option while you’re paying off student loans. Budget and allocate money to buckets that make sense for your lifestyle, so that you can pay down your student loan debt and also reach your home buying goal. Here are 21 creative ways to save .

How to buy a house with student loan debt

Before diving into the process, do yourself a favor and get pre-qualified so you can see exactly how your student debt might affect which loans you do and don’t qualify for.

Once you’ve done this, there are other steps you can take to move the process along.

Check your credit score and work on improving it if needed

Your credit score is an important part of whether or not you’ll be eligible to buy a home. If you went through a period of time where you weren’t able to pay off your loans and they’re damaging your credit score, look for additional ways to improve your score. For example, focus on paying your credit card bills on time.

If you want more information on how your credit score affects qualifying for a mortgage, check out these Zillow resources that outline how your credit score is calculated and exactly what kind of credit score you’ll need if you’re considering buying a house.

Aim to decrease the number of debts you owe

Say goodbye to as much debt as you can. This will help improve your DTI, which ultimately affects which homes you will and won’t be able to afford. Pay off any manageable outstanding debts — like small credit card bills, medical bills or outstanding car payments.

Tackling other debt before you take on a mortgage will help set you up for homeownership success. Learn about more ways to pay off debt .

Gut check your financial situation and assess if you can afford to buy a home

Zoom out and take a look at your current budget and projected monthly and annual income before you decide to add a mortgage and other homeownership costs to your spreadsheet. If you don’t know where to begin, Zillow’s affordability calculator can be a good starting point.

Looking at your bank accounts, your current pay and your projected pay is a helpful way to indicate whether or not owning a home will feel manageable to you.

Consider first-time home buyer or DPA programs

There are first-time home buyer programs, including down payment assistance (DPA) programs, that may help make financing a home more attainable, especially if you’re managing paying off student loans.

Zillow’s guide to first-time home buyer programs will help give you more information on resources you should look into as you explore your options.

Can I buy a house with more than $100K in student loan debt?

Whether or not you can buy a house with more than $100K in student loan debt will depend on your total financial picture. Debt is all relative to the stability and size of your income, Park says. “Luckily, the mortgage industry will prevent someone from overburdening themselves with payments that are too high relative to their income,” he adds.

To decide whether you qualify for a mortgage, lenders will determine your student loan payment based on your credit report and then factor that into your DTI. Your DTI will help determine the maximum loan amount you would qualify for.

Once you take a look at what you can afford based on your current income and monthly student loan payments, you can decide if there’s an alternative path that might help you achieve your home buying goal. Mortgage loan officers won’t be able to give you financial advice, so you should consider speaking to a financial advisor for some clarity on your options.

For example, financial experts might point to income-driven repayment plans to help you optimize your income and monthly student loan debt — and ultimately, your DTI — in a way that may benefit you when you apply for a mortgage. You might actually be paying more towards your student loan than you need to be, based on how much money you’re making and how much you owe, and an income-driven repayment plan can help resolve that, ultimately making your payments more manageable and an ideal mortgage within reach.

Should you pay off student loans before buying a house?

When considering whether to buy a house or pay off student loans, it’s important to look at where you live and where you stand financially. “Home ownership is not for everyone at every stage of their lives,” Park says.

If you’re able to afford it, buying a home in today’s rising market is still a favorable investment as homes continue to increase in value, Argento says. “Why pay rent at 100% interest when you can buy a home which will increase in value over time?” she explains. “I have never heard of anyone saying they wish they did not buy a home when they did. Homes continually increase in value over time and will always be a solid investment.”

You have to ask yourself: Do I have what it takes to pay the down payment? Can I afford the monthly payment? Will I be able to continue to make the same payment for the next 10 years? “If you can answer yes to all of these questions, you will most likely benefit from owning a home, and you should start looking for a house,” Park says.

Source: Zillow Porchlight Blog

A Comprehensive Checklist for Deep Cleaning Your House

Mon, 26 Feb 2024 20:23:57 GMT

Possibly deeper than you wanted, but hey. Can’t say we’re not thorough.

So you’re here to get your deep clean on, eh? We commend you. The deep clean is a massive undertaking. One must be brave and stay vigilant, dodging distractions and resisting the urge to bail and play outside or eat snacks instead.

There will be many challenges on your deep clean journey, but stay strong. Harness the power and determination to extinguish dust bunnies and soap scum, banish bacteria and grease, descale and unclog! You can’t possibly fail with this ridiculously long, comprehensive list of all the things you ought to clean in your house. Clear your schedule, you’re about to embark on a hero’s quest for cleanliness. Godspeed.

Deep clean the bathroom

Dust from top to bottom.
We recommend Swiffer Dusters , which trap and lock in dust and hair particles. Plus, you can toss the dust pad when you’re done.
Be sure to get all ceiling fans and vents.
Don’t skip the walls and baseboards.
Sweep, dry mop and/or vacuum the floors.
We love the Swiffer Sweeper Floor Mop , which can be used for both dry and wet mopping. Plus, the disposable pads are just great. And no mop bucket!
Disinfect and sanitize door knobs, light switches, hard surfaces and high-touch areas.
We like Microban 24 Bathroom Cleaner , which initially kills 99.9% of germs, including cold and flu viruses*
Scrub your shower, bathtub and sink.
Scrub the grout.
Clean the showerhead .
Clean shower doors.
Clean faucets, handles, hardware and drains.
Clean mirrors using store-bought cleaner or DIY glass cleaner solution .
Clean window treatments.
Dust and wash your blinds.
Wash the windows.
Don’t forget the window sills and ledges.
Organize the medicine cabinet, shelves, drawers and closets.
Trash expired makeup.
Wipe out shelves and inside drawers.
Vacuum linen closet floor.
Throw in a load of laundry.
Wash your:
shower curtain
towels
bathmats
Make sure to read the care instructions on the respective labels.
Deep clean the toilet.
Sanitize:
the nearby floor
toilet seat
back of toilet/shelf
hinges
flusher
attachments
Replace your toothbrush, if necessary.
Wash out toothbrush caddy. (Just throw it in the dishwasher.)
Wipe down baseboards.
Take out trash and sanitize trash can.
Clean light fixtures.
Replace any dead bulbs.

Deep Clean The Kitchen

Clean the stovetop.
Remove and soak stove grates in a bath of gentle dish soap, like Dawn , and water.
Break out the beloved Mr. Clean Magic Eraser to get rid of grease and burnt-on food.
Clean the oven.
Before you run your oven’s self-cleaning mode, wipe or scrape out any caked-on burnt stuff in there, or you risk starting a fire.
Clean your microwave.
The inside and outside, plus the door and handle.
Clean and descale your coffee maker.
Pot
Basket and filter
Outside
Clean out your fridge and freezer.
Throw out expired food and freezer items that are over six months old.
Wipe:
shelves
drawers
handles
Vacuum beneath refrigerator.
Vacuum fridge coils and vent.
Degrease cabinets and wash the walls .
Clean both the inside and outside of cabinets, doors and shelves.
Clean out and organize your pantry.
Throw away expired items.
Empty the toast tray in your toaster.
Disinfect high-touch areas:
cabinet handles
light switches
sinks
countertops
sink faucet handles
refrigerator handle
Wipe down countertops.
Clean and sanitize sink:
basin
faucets
hardware
surrounding areas
drain
Clean your garbage disposal.
Toss a few fresh lemon peels down the drain to freshen its smell.
Ice cubes in the garbage disposal help knock bits of clinging-on food from the blades.
Sweep, dry mop and/or vacuum the floors.
Clean your dishwasher filter.
Wash your dishwasher.
Run an empty cycle with Cascade Dishwasher Cleaner to eliminate limescale, grease or odors.
Clean stainless steel appliances.
Mr. Clean Clean Freak Mist works great to eliminate fingerprints and grease from stainless steel.
Clean your kitchen blinds.
Wash the windows.
Wipe down walls and baseboards.
Take out trash and recycling.
Sanitize trash and recycling receptacles.

Deep clean bedrooms

Dust everything from top to bottom:
dressers
lamps
bedside tables
artwork
knickknacks
headboard
shelves
frames
Vacuum your curtains and/or wash the blinds.
Check the label, but you can usually wash your curtains in the washing machine.
Sweep, dry mop and/or vacuum the floors.
Clean the floor.
Wash windows, window sills and ledges.
Vacuum curtains with upholstery attachment.
Wash your dirty clothes.
Put laundry away when it’s done (that’s the hard part).
Clean out your closet.
Donate clothes that no longer fit to a thrift store or friend.
Take shoes out of the closet, and sweep and vacuum closet floor.
Wash all of your bedding:
sheets
pillow cases
duvet covers
shams (if they’re washable)
Be sure to read and follow the care and cleaning instructions on the labels.
Make your bed (with the clean sheets).
Rotate your mattress.
Clean out and organize bedside table drawers.
Trash expired prescriptions, old receipts, dead batteries, etc.
Shampoo any rugs or carpets, especially if you’ve got pets.

Deep clean living spaces

Dust everything from top to bottom.
Swiffer Dusters are good for reaching all those hard-to-reach areas, plus the dust pads actually trap and lock dust particles instead of spreading them around.
ceiling fan blades
vents
bookshelves
artwork
frames
light fixtures
screens (including your TV)
plants
speakers
record player or stereo system
Wash the windows, window sills and ledges.
Dust and wash doors.
Wash the walls and baseboards.
Walls actually absorb and trap all sorts of smells.
Sweep, vacuum and mop. Then run a wet mop across the hard floors.
We like the Swiffer Sweeper , which takes care of the dry and wet mopping—no mop bucket required.
Vacuum everything:
couches
chairs
curtains
love seats
chaise longues
pet beds
anything that’s upholstered
Shampoo rugs or carpets with a steam cleaner.
Or, if you’re feeling lazy, sprinkle baking soda all over your carpet, let it sit overnight to neutralize any smells and vacuum it up in the morning. We’ll give you a hall pass on this one.
Wash cushions and throw pillow covers.
Be sure to read the care instructions first.
If you can’t wash them, hit them with some Febreze Fabric to freshen them up a bit.
Disinfect:
remote controls
high-touch items
doorknobs
light switches
Clean your screens:
televisions
laptops
tablets
Organize your stuff!
Declutter items on your tables and shelves.
Bring unused cups into the kitchen.
Put your darn shoes away. At least for today.
Test smoke and carbon monoxide detectors.
Replace batteries, if necessary.

Deep clean the garage, yard, and outdoor spaces

Clean out gutters and downspouts.
Sweep and power wash:
decks
porches
patios
Check weather strips and caulking:
doors
windows
Clean your grill.
Clean patio furniture and outdoor pillows.
Yard maintenance:
Rake leaves.
Mow the lawn.
Tend to the garden.
Fill the bird feeders.
Clean out and organize the garage.
Sweep.
Replace furnace filter.
This should be done every three months.
Sweep out the chimney.
Clean out and wash cars.

Deep clean kid areas and playrooms

Move furniture and vacuum beneath:
playpens
beds
kiddie tables
crafting stations
Use a Mr. Clean Magic Eraser on any wall stains (crayons, anyone?)
Sanitize plastic toys.
Add a couple drops of bleach to a gallon of water, soak them overnight and let them air dry.
Hand wash soft plushies.
You can use a hair dryer to fluff their fur back up afterward.
Donate stuff that’s no longer being used or doesn’t fit:
clothes
books
toys
Organize:
clothes
books
toys

Deep clean pet stuff

Vacuum:
carpet
couches
pet bed
Run a dry mop, like the Swiffer Heavy Duty Pet Dry Sweeper , on your hard floors to collect and trap loose hair and dander.
Wet mop the floor, especially those corners where the dog hangs out and/or around the litter box and food bowls.
Make this easier on yourself with the Swiffer Heavy Duty Pet Wet Mop .
Launder the pet beds.
If they’re really ratty, toss them, and buy new ones.
Clean and sanitize hard plastic pet toys.
Throw out any disgusting, torn up toys, and replace them with fresh ones.
Neutralize potent pet smells.
Sprinkle baking soda on everything, let it sit overnight and vacuum it up in the morning. It works great on upholstery, pet beds, soft toys, etc.
Spray Febreze Fabric Pet Odor Eliminator around the pet zones for a burst of freshness.

Wow, you made it to the bottom! You must have the cleanest house ever. Now can you come over and do ours?

*When used as directed and within 60 seconds, effective against bacteria including Pseudomonas aeruginosa, Staphylococcus aureus, and Salmonella enterica and viruses including human coronavirus, Influenza A H1N1, and respiratory syncytial virus. Microban does not provide 24-hour residual virus protection.

Source: Home Made Simple

Here are 3 ways Gen Zers can build credit before renting their own place

Mon, 19 Feb 2024 16:37:49 GMT

Rising inventory is helping push rent prices down. For young adults, building credit is a smart step to take as they prepare to enter the rental housing market.

The median U.S. asking rent price in December was $1,964, a 0.8% decline from a year ago, according to real estate firm Redfin , which analyzed price data on single-family homes, multifamily units, condos/co-ops and townhouses across the U.S., except metro areas. It was the third consecutive decline after a 2.1% annual drop in November and a 0.3% decrease in October.

“It is good news for Gen Z that there are more rental options at more affordable prices,” said Daryl Fairweather, chief economist at Redfin.

While prices are moderately cooling in the rental sector, there is still a long way to go before the real estate market sees consistent and significant price decreases, according to Jacob Channel, a senior economist at LendingTree.

“It’s probably still going to be hard to rent in a lot of instances, unfortunately,” he said.

Many Gen Zers are still living with their parents

While some older Gen Zers were able to become homeowners during the Covid-19 pandemic, most did not. They either became renters or never moved out of their parents’ house.

Gen Z includes those born between 1996 and 2012, according to Pew Research Center’s definition , and the youngest members of that cohort are still teens and tweens.

Nearly a third, 31%, of adult Gen Zers live at home with parents or a family member because they can’t afford to buy or rent their own place, a recent report by Intuit Credit Karma found.

Some of those who did rent are now struggling. Of the Gen Z adults who currently rent, 27% say they can no longer afford the cost, the firm found. It polled 1,249 U.S. adults in November.

“The high cost of housing, even as it comes down in some areas, is going to remain a problem for both buyers and renters for quite some time,” said Channel.

In the meantime, there are ways Gen Z adults can prepare, especially those at home saving on expenses.

How building credit can help you rent your own place

Landlords may look at prospective tenants’ credit to assess their ability to make payments on time. Having a good track record with credit can boost your chances that your application is accepted, and with favorable terms.

In short: A strong credit history can make you a competitive candidate.

“Practice healthy habits overall with any line of credit that you may have,” said Melissa Lambarena, credit card expert at NerdWallet. “Whatever you’re charging to your credit card, you should only charge what you can afford to pay back.”

Three ways to build credit

Whether you are on the rental market sidelines or have your eyes set on the ideal apartment in your area, here are three ways to strengthen your credit score :

1. Leverage bills you routinely pay

Traditionally, recurring household bills such as utilities and internet service do not show up on your credit report — and so they are not factored into your credit score.

However, programs such as Experian Boost, StellarFi and UltraFICO allow users to build credit based on alternative metrics such as banking activity and payments for streaming services, electric bills and mobile phone plans. Once you are renting a place, some programs also report those payments as a way to build credit.

However, remember that building your score this way still requires time and consistently good payment habits, said Channel.

“It’s not magical [where] you make three utility payments on time and you suddenly have an 800 credit score. That’s not how it works,” he said.

2. Become an authorized user

You can build good credit based on another person’s credit history when you become an authorized user on their credit card. Under this status, you can use the card, but unlike a cosigner, you’re not on the hook for the balance. This is usually an ideal option for parents who want to help their children build credit.

However, make sure the person whose account you’re piggybacking has a strong credit score. If you become an authorized user with someone who is not as responsible with their debt, it won’t help your credit — and might make things worse for everyone involved, said Channel.

Additionally, the card issuer must report your payment history to the major credit bureaus. Otherwise, it won’t do much good to be an authorized user. Check the credit card company’s terms and conditions to see how it handles that relationship.

Once you cover these steps, set up a plan with the other person: how much you will pay, what your limit will be or if it’s a matter of not using the card at all, said Lambarena.

3. Consider a secured credit card

One of the most straightforward ways to start building credit, especially for a young person, is to look into a secured credit card, said Channel.

A secured credit card can be easier to qualify for because it requires a security deposit, said Lambarena. That’s typically tied to your credit line. In other words, you are setting up your own credit limit by how much you pay up front. “A really low deposit would mean maybe you do not have that much to spend,” she said.

The ideal secure credit card for someone starting to build credit won’t carry an annual fee, reports payments to all major credit bureaus and has a built-in path toward an unsecured credit card in the future with the same issuer once you build up a good credit, said Lambarena.

Source: CNBC

Are open floor plans going out of style?

Wed, 17 Jan 2024 16:23:40 GMT

Closed floor plans: For years, they were yesterday’s news. In recent interior design trends, it’s been all about open concept floor plans. But in recent years, there have been reports of buyers looking for more walls. What gives?

Long story short, the pandemic and the rise of remote work have influenced the kind of homes buyers seek. During lockdowns, open spaces granted less privacy and families sought privacy in separate spaces. Even as restrictions eased, the benefits of having separate rooms left its imprint on interior design trends.

As a result, soft versions of closed floor plans have been making their way back into the woodwork. Home designers have seen more requests for dividing walls and offices in building plans. There is also an understandable emphasis on outdoor living.

We can sense the winds of change, but we also want to know—is this change permanent? Or, will building trends revert to the open kitchen and floor plan we are familiar with? We looked up the opinions of experts, so you don’t have to.

Are Closed Floor Plans Making a Comeback?

Yes, to some extent. But open floor plans aren’t out of the equation. After all, architects can’t just ignore the overwhelming benefits of open floor plans, which include freedom of movement, maximizing small spaces and natural light, and allowing creative furniture layouts. Overall, it depends on who you ask whether dividing walls will become the next “hot” home trend.

For instance, more interior designers than ever are promoting separate rooms as a hot design trend for 2024 . Formal dining rooms and separate living rooms, which have long been considered outdated, are now coming back too. HGTV also predicts the rise of compartmented spaces like children’s homework spaces and meditation rooms that emphasize quiet concentration and solitude.

Recently, the Architectural Digest affirmed the ongoing need for “ hybrid spaces ” that offer multiple functions for the same space – another ongoing effect of our days of staying at home. This points to the ongoing need for residents to have separate spaces that can convert to various functions, allowing different household members to use parts of the home for specific purposes. It’s one of the great strengths of closed floor plans, but it can also be applied to some open concept areas.

Are closed floor plans right for you?

In the end, it’s all about what you want. Do you think that a dedicated dining area is convenient, as well as a separate living area where residents can relax away from the main part of the house.? A family room can be a more relaxed living area while a guest room can remain pristine for out-of-town visits. Having private areas with a workspace, whether it’s a home office or garage workshop, can also become part of an advantageous home layout.

No matter whose opinion you read, one thing is certain. Home design will rise to meet consumer demand. As lifestyles change, so will homes adapt. Time will tell if including more walls will stick, or if the modern home builder will revert to the airy, open floor plans that have captured our fancy for years.

The Case for Closed Floor Plans

It’s normal for experts to come to different conclusions even after looking at the same evidence. Realistically, it’s unlikely that the rise of remote work and school post-pandemic has not influenced life at home at all. When voices regarding this trend are mixed, we must consider—what reasons could be behind an overarching closed floor plan shift?

The Need for Definition in Larger Homes

The average home size has more than doubled since the 1950s, and Americans are now expressing challenges about defining spaces in open floor plans. Since the typical home in 2020 was around 2,300 square feet, homeowners found that there weren’t enough room dividers or fancy bookshelves to designate what part of the kit-living-den combo is for what.

Not Wasting Space

Lack of definition leads to another problem: unused space. Whereas a closed floor plan could easily integrate a cozy home office or kid’s playroom, homeowners report wasted opportunities when there are too many options for a space. A great room has a lot of potential, but if there is no spatial definition, there can be wasted square footage.

The Need for Privacy & Quiet

Let’s not forget another factor driving the need for closed floor plans: privacy. In fact, the author of this article also went from an open floor plan to a closed floor plan after the pandemic. The need for more walls and privacy increases as one spends more time around the same people.

When multiple family members must work, learn, and play under the same roof, it is challenging when one must concentrate on a work assignment while another wants to play guitar. Having separate rooms on the same floor resolves this problem. It also helps parents of young children and fur parents put up gates to control traffic flow for safety reasons.

Freedom to Decorate in Closed Floor Plans

Closed floor plans offer another advantage: the freedom to assign unique design concepts to different rooms. While you can make one bathroom “dark and moody,” you can make the office bright and full of plant life or experiment with some bold paint colors.

When there is one open floor plan, homeowners are compelled to unify wall colors and fixtures. For instance, combining the living room with a dining room means requires that these living spaces have a harmonious color palette.

Source: Marketplace Homes

Thinking About Buying a Home? Ask Yourself These Questions

Mon, 08 Jan 2024 18:29:10 GMT

If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market . And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot.

Here are the top two questions you need to ask yourself as you make your decision, including the data that helps cut through the noise.

1. Where Do I Think Home Prices Are Heading?

One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists.

According to the most recent release, the experts are projecting home prices will continue to rise at least through 2028 ( see the graph below ):

So, why does this matter to you? While the percent of appreciation may not be as high as it was in recent years, what’s important to focus on is that this survey says we’ll see prices rise, not fall, for at least the next 5 years.

And home prices rising, even at a more moderate pace, is good news not just for the market, but for you too. It means, by buying now, your home will likely grow in value, and you should gain home equity in the years ahead. But, if you wait, based on these forecasts, the home will only cost you more later on.

2. Where Do I Think Mortgage Rates Are Heading?

Over the past year, mortgage rates spiked up in response to economic uncertainty, inflation, and more. But there’s an encouraging sign for the market and mortgage rates. Inflation is moderating, and here’s why this is such a big deal if you’re looking to buy a home .

When inflation cools, mortgage rates generally fall in response. That’s exactly what we’ve seen in recent weeks. And, now that the Federal Reserve has signaled they’re pausing their Federal Funds Rate increases and may even cut rates in 2024, experts are even more confident we’ll see mortgage rates come down.

Danielle Hale, Chief Economist at Realtor.com , explains :

“. . . mortgage rates will continue to ease in 2024 as inflation improves and Fed rate cuts get closer. . . . a key factor in starting to provide affordability relief to homebuyers.”

As an article from the National Association of Realtors (NAR) says :

“Mortgage rates likely have peaked and are now falling from their recent high of nearly 8%. . . . This likely will improve housing affordability and entice more home buyers to return to the market . . .”

No one can say with absolute certainty where mortgage rates will go from here. But the recent decline and the latest decision from the Federal Reserve to stop their rate increases, signals there’s hope on the horizon. While we may see some volatility here and there, affordability should improve as rates continue to ease.

Bottom Line

If you’re thinking about buying a home , you need to know what’s expected with home prices and mortgage rates. While no one can say for certain where they’ll go, making sure you have the latest information can help you make an informed decision. Connect with a trusted local real estate agent so you can stay up to date on what’s happening and why this is such good news for you.

Source: Keeping Current Matters

Retiring Soon? Why Moving Might Be the Perfect Next Step

Mon, 25 Dec 2023 18:59:02 GMT

If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in your life.

Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about as you decide whether or not to sell and make a move.

How Long You’ve Been in Your Home

From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer ( see graph below ):

When you live in a home for a significant period of time, it’s natural for you to experience a number of changes in your life while you’re in that house. As those life changes and milestones happen, your needs may change. And if your current home no longer meets them, you may have better options waiting for you.

How Much Equity You’ve Gained

Additionally, if you’ve been in your house for more than a few years, you’ve likely built-up significant equity that can fuel your next move. That’s because the longer you’ve been in your house, the more likely it’s grown in value due to home price appreciation . Data from the Federal Housing Finance Agency (FHFA) illustrates that point ( see graph below ):

While home price growth varies by state and local area, the national average shows the typical homeowner who’s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who’s owned their home since 1991 saw it more than triple in value over that time.

Consider Your Retirement Goals

Whether you’re looking to downsize, relocate to a dream destination, or simply be closer to loved ones, your home equity can be a key to realizing your homeownership goals. NAR shares that for recent home sellers, the primary reason to move was to be closer to loved ones.

Whatever your home goals are, a trusted real estate agent can work with you to find the best option. They’ll help you sell your current house and guide you through buying the home that’s right for your lifestyle today.

Bottom Line

Retirement can bring about major changes in your life, including what you need from your home. Connect with a local real estate agent to explore the available homes in your area.

Source: Keeping Current Matters

What Are the Real Reasons You Want To Move Right Now?

Mon, 06 Nov 2023 18:36:39 GMT

If you’re considering selling your house right now, it’s likely because something in your life has changed. And while things like mortgage rates play a big role in your decision, you don’t want that to overshadow why you thought about making a move in the first place.

It’s true mortgage rates are higher right now, and that has an impact on affordability. As a result, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home.

But your lifestyle and your changing needs matter, too. As a recent article from Realtor.com says :

“No matter what interest rates and home prices do next, sometimes homeowners just have to move—due to a new job, new baby, divorce, death, or some other major life change.”

Here are a few of the most common reasons people choose to sell today. You may find any one of these resonates with you and may be reason enough to move, even today.

Relocation

Some of the things that can motivate a move to a new area include changing jobs , a desire to be closer to friends and loved ones , wanting to live in your ideal location, or just looking for a change in scenery.

For example, if you just landed your dream job in another state, you may be thinking about selling your current home and moving for work.

Upgrading

Many homeowners decide to sell to move into a larger home. This is especially common when there’s a need for more room to entertain, a home office or gym, or additional bedrooms to accommodate a growing number of loved ones.

For example, if you’re living in a condo and your household is growing, it may be time to find a home that better fits those needs.

Downsizing

Homeowners may also decide to sell because someone’s moved out of the home recently and there’s now more space than needed. It could also be that they’ve recently retired or are ready for a change.

For example, you’ve just kicked off your retirement and you want to move somewhere warmer with less house to maintain. A different home may be better suited for your new lifestyle.

Change in Relationship Status

Divorce, separation, or marriage are other common reasons individuals sell.

For example, if you’ve recently separated, it may be difficult to still live under one roof. Selling and getting a place of your own may be a better option.

Health Concerns

If a homeowner faces mobility challenges or health issues that require specific living arrangements or modifications, they might sell their house to find one that works better for them.

For example, you may be looking to sell your house and use the proceeds to help pay for a unit in an assisted-living facility.

With higher mortgage rates and rising prices , there are some affordability challenges right now – but your needs and your lifestyle matter too. As a recent article from Bankrate says :

“Deciding whether it’s the right time to sell your home is a very personal choice. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market. . . . Your future plans and goals should be a significant part of the equation . . .”

Bottom Line

If you want to sell your house and find a new one that better fits your needs, get in touch with a real estate expert . They'll be there to guide you through the process and help you find a home that works for you.

Source: Keeping Current Matters

What Is Fair Housing? Rights, Responsibilities, and Resources

Mon, 23 Oct 2023 17:22:17 GMT

If you’ve ever submitted an offer on a home or applied for a mortgage and felt you were treated unfairly, you aren’t alone. Housing discrimination has existed for decades and continues to be a major issue, although it often appears in subtle forms. Fair housing laws helped address many blatantly discriminatory practices, but you may be wondering what rights you have under fair housing laws and who enforces them.

The Fair Housing Act (FHA) provides rights, responsibilities, and resources for everyone at every stage of the housing process, including buyers, renters, real estate agents, lenders, and brokerages. Fair housing is critical to creating an equitable society free from discrimination.

Whether you’re a homebuyer , renter , or just want to learn more, this article is for you. Read on to learn what you need to know about fair housing, including what it is, the rights it provides, the responsibilities it enforces, and what to do if you’ve been discriminated against.

What is fair housing?

Fair housing laws prohibit discrimination in the purchase, sale, rental, and financing of housing due to a person’s race, color, religion, sex, national origin, familial status, and disability. The Fair Housing Act protects everyone , including US citizens, green card holders, and undocumented residents.

The right to fair housing was established by the Fair Housing Act (Title VIII of the Civil Rights Act) in 1968 and has since been through dozens of amendments and executive orders expanding its reach. States, counties, and cities also often have specific housing laws that provide additional protections beyond those offered by the Fair Housing Act, such as prohibiting discrimination based on characteristics such as age, gender identity, honorably discharged veteran or military status, or source of income (including the receipt of income from affordable housing programs).

Exceptions to the Fair Housing Act

The Fair Housing Act applies to most housing, but there are a few exceptions where the law doesn’t apply:

A dwelling with four or fewer units, if the owner lives in one of the units
Single-family housing sold or rented without a broker, if the private owner doesn’t own more than three single-family homes at once
Religious organizations and private clubs, as long as they don’t discriminate in membership
Specific HUD-approved housing for older persons

Be cautious when applying for or purchasing housing that is exempt from the Fair Housing Act, and take your state and local laws into account as well, as they may offer additional protections beyond the federal law.

Fair lending and mortgage discrimination

Fair housing also applies to mortgage lending . The Equal Credit Opportunity Act (part of the FHA) prohibits lenders from discriminating against borrowers based on a legally protected characteristic at any stage of the mortgage process, including but not limited to:

Refusing to make a mortgage loan or provide other financial assistance for a dwelling
Refusing to provide information regarding loans
Imposing different terms or conditions on a loan, such as different interest rates, points, or fees
Discriminating in appraising a dwelling
Conditioning the availability of a loan on a person’s response to harassment
Refusing to purchase a loan

An example of mortgage discrimination is redlining , which is the process of denying mortgages, insurance, and other services to residents in specific areas.

Fair housing rights and responsibilities

The Fair Housing Act provides protections for homebuyers and renters and responsibilities for home sellers, renters, and mortgage lenders. Let’s take a closer look.

Rights of the homebuyer

As a homebuyer, you’re protected from discrimination based on any legally protected characteristic in any part of the homebuying process. This includes financing, finding a real estate agent, touring homes, submitting offers, negotiating, and more.

Rights of the renter

The Fair Housing Act protects both buyers and renters. Here are a few important tenant rights (this is not an exhaustive list):

Right to a fair security deposit refund
Right to a notice of eviction and a timeframe in which to fix the situation
Right to a habitable home
Right to privacy
Right to quiet enjoyment

Homebuyers and renters can file discrimination complaints with HUD or file lawsuits in state or federal court. Retaliation against someone who filed a complaint is prohibited by law.

Responsibilities of the home seller and landlord

Home sellers and landlords have to fairly entertain offers from everyone who might want to buy or rent your home. A seller and landlord cannot take any of the following actions because of a person’s race, religion, or other legally protected characteristics (this is not an exhaustive list):

Refuse to rent or sell housing
Refuse to negotiate for housing
Make housing unavailable
Otherwise deny someone a home
Set different terms, conditions, or privileges for the sale or rental of a home
Provide different housing services or facilities
Falsely deny that housing is available for inspection, sale, or rental
Blockbusting, i.e., for profit, persuading or trying to convince homeowners to sell their homes by suggesting that people of a particular race or other protected characteristic have moved or are about to move into the neighborhood
Deny someone access to, membership, or participation in any organization, facility, or service related to home sales and rentals (such as a multiple listing service), or discriminate against any person in the terms or conditions of access, membership, or participation

Responsibilities of the lender

Fair lending guarantees the same lending opportunities to everyone , though lenders can legally make distinctions based on non-protected characteristics, such as credit scores. Lenders cannot discriminate against anybody based on race, national origin, or other legally protected characteristics. Some examples of discriminatory practices include (this is not an exhaustive list):

Unnecessary closing costs
Inflated broker or lender fees
Unnecessary recording fees
Excessive prepayment penalties
Refusing to consider a mortgage applicant’s disability-related income, such as SSI or SSDI
Refusing to provide mortgages to a person on parental leave
Changing mortgage loan terms at closing without the borrower’s consent

If you’re dealing with a mortgage broker or lender, take notes during and after the process. Also, ensure you receive these items at no cost:

Good Faith Estimate
Truth in Lending Disclosure Statement
Copy of your loan application
Mortgage Servicing Disclosure Statement

Receiving a home loan can be a significant barrier to entry to homeownership and has historically been a discriminatory process. If you believe you have experienced lending discrimination , visit HUD’s housing discrimination complaint website to file a complaint.

Responsibilities of the appraiser

A home appraiser determines the value of a home so it can serve as collateral for a loan. Home appraisals are an essential part of the homebuying process .

Appraisers must fairly value every home they appraise and cannot charge excessive appraisal costs. Lowballing – making an excessively low appraisal based on the homeowners’ race or other protected characteristics – is prohibited.

Responsibilities of the real estate agent

Real estate agents are bound by all fair housing laws and regulations. Many agents are also members of the National Association of REALTORS® , which provides an additional code of ethics .

Redfin employs real estate agents and brokers , most of whom are REALTORS®. In addition to any FHA training all agents and brokers must complete as part of their licensing requirements, and the Code of Ethics REALTORS® must abide by, Redfin requires agents and brokers to complete an additional comprehensive FHA training. This training explains the FHA and the risks of non-compliance, Redfin’s Fair Housing Policy , and restates our commitment to honoring every customer.

Examples of housing discrimination

While landlords and banks don’t often display ads saying “Whites only” or enforce restrictive covenants , discrimination persists in more subtle ways. Housing discrimination still disproportionately affects people of color and other minoritized groups. For example, studies indicate that same-sex couples and transgender persons often experience less favorable treatment than their straight and cisgender counterparts.

Lending practices are another example. Outright discrimination is illegal, but racialized perceptions of value contributed to the devaluation of property and housing stock in neighborhoods of color.

All forms of housing discrimination are illegal and punishable by federal law, but subtle methods can be harder to prove.

Types of housing discrimination

Some common types of housing discrimination have names. While this list is not exhaustive, here are three common examples:

Redlining: Redlining was a racist tactic used by banks, lenders, and other businesses to deny mortgages, insurance, and healthcare to people living in certain areas that were deemed to be “hazardous.” This was once legal and supported by the federal Homeowners Loan Corporation (HOLC) but was outlawed by the Fair Housing Act. However, historically redlined communities are often still lower income and inhabited by minoritized groups. Redlining has also become shorthand for many types of historic race-based exclusionary tactics.
Steering : Steering in real estate is the illegal practice of guiding prospective homebuyers towards or away from certain areas based on a legally protected characteristic, such as race or gender. This can create homogeneous neighborhoods that often negatively impact immigrants, people of color, and LGBTQ+ folks while benefiting white, cisgendered homebuyers. Steering continues to be a form of discrimination.
Lowballing: Lowballing is when a home appraiser makes an excessively low appraisal on the basis of race, religion, or other protected characteristics.

Who enforces fair housing?

The Department of Justice (DOJ) and HUD play a role in enforcing the FHA. HUD and its Fair Housing and Equal Opportunity (FHEO) office handle most enforcement and administration responsibilities. In contrast, the DOJ handles violations of the Fair Housing Act, which are punishable by law. Depending on the severity and frequency of the violations, the DOJ can institute criminal charges or take further legal action.

There are ten HUD regions in the US, each with an FHEO office. These offices manage fair housing complaints and administration in their specific region. Individual states, counties, and cities often have their own housing laws and enforcement agencies where people can file complaints and seek help. Nonprofit organizations can help as well and connect people with resources.

What about fair lending?

In 2021, HUD and the Federal Housing Finance Administration (FHFA) agreed to work together to enforce the Fair Housing Act and to restate their commitment to fighting discrimination in the homebuying process. This is important because FHFA regulates Fannie Mae and Freddie Mac , the two major government-sponsored mortgage lenders. By partnering with HUD, the FHFA can help ensure Fannie Mae, Freddie Mac, and other mortgage lenders practice fair lending.

Fair housing vs. equal housing opportunity

Fair housing, equal housing opportunity, and equal opportunity housing are different terms that all refer to the Fair Housing Act. The difference is in how they’re used. Fair housing generally refers to rules and regulations, while equal housing opportunity refers to real estate businesses that follow the rules.

Equal housing opportunity is a common phrase used throughout the real estate industry. It indicates that a business advertises they abide by the Fair Housing Act.

How to identify companies that support fair housing

Fair housing is the law; all brokerages, lenders, agents, landlords, or other housing providers must follow it. However, many people want to look for brokers or lenders that affirmatively show their commitment to fair housing. To find them, look for the Equal Housing Opportunity logo, statement, or slogan.

Additionally, all advertising of residential real estate for sale and rent, and financing opportunities, must abide by fair housing laws. It’s illegal to make, print, or publish any notice, statement, or advertisement that indicates a preference, limitation, or discrimination because of race, color, or other legally protected characteristics.

What to do if you experience housing discrimination

If you experience housing discrimination, your first step should be to file a complaint with HUD , your regional FHEO office, or your local housing authority. In cases where you may be evicted or otherwise lose your housing, HUD can assist you as soon as you file and expedite the judicial process. Retaliation against a complainant is illegal, so fight for your rights.

If you don’t feel comfortable filing a complaint or want to assess your legal rights, consider consulting an attorney. You can also call a government hotline, such as your city or state’s Human Rights Commission. This can get you more immediate help.

Generally, taking notes during any housing, renting, lending consultations, and other real estate-related services is a good idea. A first-hand account can be helpful if you experience discrimination and wish to file a complaint.

Final thoughts on fair housing: equal housing is a right

Fair housing is a fundamental right that ensures equal access to housing and equal homeownership opportunities. The Fair Housing Act and its additions, including the Equal Opportunity Credit Act and the Americans with Disabilities Act, provide legal protections and procedures that are enforceable by law. There are protections for more specific cases as well that this article didn’t cover.

The Fair Housing Act is over 50 years old and continues to help people in need. However, while the industry has changed, it is not free from discriminatory practices. Expanding legislation and providing additional resources will help everyone receive the right to housing without discrimination. It will take work, but it is necessary.

Source: Redfin

How to Decide When to Do It Yourself or Call In a Pro

Mon, 16 Oct 2023 19:40:08 GMT

Skill set, budget and your level of patience are just a few things to think about before you start a home improvement project.

The quickest way to appreciate tradespeople is to tackle a home improvement project yourself. Depending on the project, the learning curve could be steep and the lessons learned expensive. So how do you know whether a project is going to be one of those projects, or if all you need is a toolbox and some patience? Here are some tips for deciding whether to DIY vs hire a professional.

When you might want to consider DIY

When you’re low on funds. Hiring help can be expensive, and finding the right person for the job can be challenging. This is one of the best reasons to DIY since the more you do, the more you’ll learn about tools and techniques. Start with small projects, and you may end up building your own home one day.

When the work can be easily and cheaply redone if you mess up. Remember, you can always repaint or sand down a badly patched wall.

When the project has an abundance of helpful step-by-step videos on YouTube. Vet the experts you’re learning from, and read the comments below the videos to see how helpful others found them.

When the project is simple , requires few tools, and can be done in an hour. Think hanging shelves or curtain rods — though you may want to consider hiring an expert installer if you need window treatments for more than one room or have complicated window styles.

When the project involves a part of the home that isn’t essential for daily living. For instance, if you’re retiling the bathroom floor and have to remove the toilet to complete the work, you want to be sure you can finish as quickly as possible so you’re not without the use of your toilet.

When you don’t mind looking at something done imperfectly . Doing anything for the first time involves a learning curve.

When the project, such as container gardens or wall stickers, comes in a kit you can easily assemble.

When you have the skills, experience and knowledge to tackle the task at hand. If you’ve never hung a shelf, you might not want to start learning by installing built-ins.

When you have access to tools , either through borrowing from friends or tool lending libraries , or renting the equipment you need. The right tools make the work easier and increase the likelihood of good-looking results.

When it’s hard to find a tradesperson or you would have to wait months to start work on a project that’s important to you.

When to consider hiring a pro

When the work would change the structure of your home or property. Removing a support wall or building a retaining wall could impact the safety of your home. This requires a great deal of knowledge and expertise.

When the project is technical and requires a high degree of skill and precision. Cutting molding at the wrong angle is easily remedied or repaired at minimal cost. Cutting a precise shape into a hardwood floor to place a bracket for a railing? Not so much. If the job is high stakes, requires precision and would be costly to repair, you may want to leave it for a pro.

When the work poses danger to you or your home if done incorrectly. Think electricity and plumbing. If you don’t know what you’re doing, you could shock yourself — or worse — or create a leak that will damage your home.

When the work requires a permit and inspection. By their nature, projects that require oversight by building officials in your county or city building department are complex and have higher stakes.

When you need specialized equipment . Unless you have a tool library or a tool rental business near you, the cost of buying equipment for some projects can exceed the cost you would have paid for a pro who already owns the equipment.

When the project is joyless and would require a lot of time . Sure, you can do the work, and you will probably feel great satisfaction when it’s done, but life is short. Unless you find joy in building that retaining wall, let a pro do it.

When a project involves a large, prominent, highly visible part of the home . Laying out elaborate wood patterns that require precision cuts and leveling on a main wall is probably not where you want to start learning.

When you have a lot of unfinished projects . Even the most enthusiastic DIYer can run out of steam. Know your limits.

Source: Zillow

How to Get Rid of PMI on Your Investment Property

Mon, 18 Sep 2023 18:24:46 GMT

When you’re applying for a mortgage, the principal and interest aren’t the only things you need to consider. There are additional upfront closing costs, and there are also ongoing monthly expenses like property taxes, a homeowners insurance premium, and potentially PMI to consider, too.

Out of all these expenses, homeowners have the most control over their PMI, as it’s determined by factors like the type of mortgage you’re using and how much of a down payment you’re bringing to closing.

Many homeowners do end up with PMI. But while it can be pricey, the good news is that you can get rid of it eventually once certain conditions are met.

What Is PMI?

Private mortgage insurance —or PMI—is insurance not on the home, but on the mortgage itself. It protects the lender if you stop making payments on your home, and it may be required if you take out a conventional mortgage with a down payment under 20% of the home’s purchase price.

It’s also typically required when refinancing a conventional loan if your total home equity is under 20% of the current value of your home.

What types of loans require PMI?

Conventional loans—including refinancing—require private mortgage insurance if you’re putting less than 20% down when closing on your home.

Other types of loans do not require PMI, but may have their own type of mortgage insurance. If you use a Federal Housing Administration (FHA) loan, for example, you’ll be required to pay mortgage insurance premiums (MIP), which work differently from PMIs.

In many cases, your PMI will show up on a monthly mortgage statement, as it’s processed through escrow .

How Much Does PMI Cost?

PMI costs are determined by the cost of your loan, your down payment, and factors like your credit score. According to Chase Bank , average PMI rates range from 0.22%-2.25%, depending on your credit score. The loan servicer multiplies the cost of your loan by the PMI rate and then divides it by 12 to give you a monthly premium.

So let’s say your property is worth $500,000. You’re coming to the closing table with $50,000, which is 10% down, and your loan will be for $450,000. The loan officer shares a PMI disclosure form and lets you know that your PMI rate will be 0.60% based on your credit score.

In this case, they could use the following calculation:

[450,000 x .60%] / 12 = $225 monthly mortgage insurance premium payment

Your PMI monthly payments will stay the same for the duration of the policy.

When Does PMI Go Away?

Private mortgage insurance is not permanent for the lifetime of the loan, thanks to the Homeowners Protection Act , which allows for PMI removal once the LTV ratio is at a certain point. Before this went into effect, PMI could be required for the lifetime of a loan.

Mortgage lenders automatically end your PMI payments when you’re scheduled to reach a 78% loan-to-value (LTV) ratio , which tells you how much your loan is compared to the value of the property. This will happen if you’re current on all of your mortgage payments, and you’ve made enough in interest payments to own 22% equity in your home.

You can request PMI cancellation once your LTV is 80% or lower. To do this, you can contact the private mortgage insurance company and request termination, but you must be current on your loan.

How to Get Rid of PMI Early

To get rid of PMI, you must have an LTV ratio of 80% or lower on your loan, and in most cases, this means waiting until your interest payments add up to reach that point.

That said, there are a few different ways of eliminating PMI early because there are other ways to establish and build equity in your home. Let’s look at each.

1. Reappraise your home

One way to cancel PMI early is to have your home reappraised if you suspect that the property has appreciated past its original value.

During this process, an appraiser will assess the value of your home. This allows you to leverage any upgrades from remodeling or appreciated value thanks to market conditions in your favor.

If your total home value has increased, it’s possible it’s increased enough that your LTV ratio has reached 80 or under. If so, you can request to cancel PMI with your insurance broker.

Keep in mind that you’ll need to pay for a new appraisal, which can vary significantly in cost.

2. Refinance your loan

It’s common for borrowers to have a conventional loan with less than a 20% down payment (and, thus, PMI) because saving for a home while paying rent can be extremely difficult.

For many, it’s often easier to save more once you’re in the home and have knocked out big expenses like furniture or potential repairs and remodeling. And for investors who start making a profit on the home, it’s much easier to pay down more of the total loan after the fact.

Refinancing your loan essentially creates a new loan, so it eliminates PMI automatically if your new LTV ratio is under 80%. Investors often choose to refinance when interest rates are lower, or they want to essentially make a lump-sum payment that will reduce their month-to-month mortgage payment.

3. Pay down your mortgage

You have a total monthly payment that includes your principal and interest, and it may also include PMI, property tax, and property insurance. Your total amount of principal and interest payments are impacted by amortization .

You can, however, pay down your mortgage early. The most effective way to get rid of PMI fast is to make principal-only payments as often as you can. Some investors throw extra cash into principal balance payments if they don’t have additional costs on their investment property, while others add extra payments at set intervals to get the loan balance down.

Just make sure that when you’re making a payment, you’re using “principal-only” payments; paying down the interest early won’t help improve your loan balance and LTV.

4. Renovate to add value

While it’s always nice when there’s a hot real estate market and your property automatically increases in market value, this can take time and isn’t in your control.

Many investors choose to renovate homes to add value or increase their appeal to potential renters or buyers. If you believe your renovations have added enough value to the home to drop your LTV ratio to 80% or less, get your home appraised.

However, renovations typically do not mean an equal return on your property’s appraised value. You may spend $20,000 on new floors, only to see a $2,000 increased property value (or, depending on the floors you choose and what you replace, may not increase value at all).

Updating major appliances or “big ticket” rooms like a bathroom or a kitchen are your best bet for significantly increased home value outside a significant home expansion.

When Are PMI Payments Good for Investors?

PMI can be expensive, and it may feel frustrating for homeowners to be paying extra money every month that doesn’t contribute to their home equity.

That being said, PMI payments can be good for investors, depending on their particular financial situation and investment strategy .

In some cases, investors may benefit from closing with a small down payment and having an extra monthly payment. Here are some examples.

You don’t have 20% right now

For starters, some investors may spot a great opportunity but literally can’t show up with a 20% down payment. Others may have the funds but choose to hold some back so that they can make repairs or renovations on a property promptly.

In these cases, when a real estate opportunity is a great fit, it often makes sense to just secure the home while paying PMI even if it means a small extra monthly payment.

If this is the case and you can afford the extra monthly payment, it can be a great investment.

You know profit will exceed PMI payments

From a cash flow perspective, sometimes you need to spend money to make money.

Many real estate investors may pinch pennies to acquire initial (or even subsequent) properties, but their cash flow improves dramatically as soon as they can start making a profit.

Say you’re paying $1,000 a month on principal, interest, homeowners insurance premiums, and property tax. Your PMI is $60 a month. You’re able to charge $2,000 a month plus utilities to a renter, giving you a profit (before other costs) of around $940 a month.

It makes sense to pay $60 a month to secure the home when you can and start earning a profit, which can not only be used to pay down your mortgage balance early if you choose but potentially secure an additional investment property.

You want to prioritize cash flow

Any homeowner can tell you that properties can come with significant costs, both expected and unexpected. Putting less money down upfront can leave you more funds to deal with any costs needed to maintain that investment property, whether it’s legal fees during an eviction process or new air conditioning when the old one dies in the dead of summer.

Cash flow is essential for businesses, so a small monthly payment to earn you some financial flexibility can be a huge advantage.

PMI FAQs

Still have questions about private mortgage insurance? We’ve got answers!

How can you avoid PMI?

If you want to avoid PMI costs, you can come to closing with 20% down.

You can also look at other financing options. A VA loan , for example, does not require any kind of mortgage insurance premium or a down payment on the home.

How do I get rid of PMI without refinancing?

PMI is automatically removed from your loan when your loan-to-value ratio reaches 78%.

Once your loan-to-value ratio reaches 80% or lower, you can request your mortgage lender have it removed. This can happen through standard mortgage repayments, additional principal-only mortgage payments, or increases in your property value due to renovations or appreciation (though the latter requires an appraisal).

Can I remove PMI if my home value increases?

If your home value appreciates beyond its original value to the point where your LTV is at 80% or under, you can request PMI cancellation.

Source: Bigger Pockets Blog

10 Long-Distance Moving Tips

Thu, 10 Aug 2023 18:09:50 GMT

Whether you’re relocating to a new house in Tacoma, WA, or an apartment in Houston, TX , moving to a new city or state can be an exciting adventure, but the process of long-distance relocation can also be overwhelming. Proper planning and organization are crucial to ensuring a smooth and successful move. In this comprehensive guide, Redfin provides you with ten valuable tips to make your long-distance move stress-free and efficient.

1. Start planning early

Long-distance moves require careful planning, so start as early as possible. Ideally, begin the process at least 8 to 12 weeks before your intended move date. Create a detailed moving checklist and timeline to keep track of important tasks. This includes researching moving companies, sorting and decluttering belongings, and scheduling necessary services such as transferring utilities. Also take into account how many moving boxes you’ll need .

2. Hire a reputable moving company

Choosing the right moving company is essential for a successful long-distance move. Research several companies and read online reviews to assess their reputation and customer satisfaction. Obtain written estimates from multiple movers and compare their services and prices. Look for companies with proper licensing, insurance, and a good track record of handling long-distance moves.

Also take into account whether the company specializes in long-distance moves. “Long-distance moving can be a challenging process for both residents and those assisting with the move,” says Dylan Figlo of Rentacrate . “Therefore, it’s essential to be cautious of companies that limit their services to small, regional areas, as this can be a red flag. When embarking on a long-distance move, it’s crucial to collaborate with partners experienced in handling city-to-city and state-to-state moves as their primary expertise, and investing in secure and organizable equipment like sturdy, stackable, rollable moving crates can make the journey to your new home smoother and more efficient for you and your movers.”

3. Purge unnecessary items

Long-distance moves can be costly based on the volume of your belongings. Take this opportunity to declutter your home thoroughly. Donate, sell, or discard items you no longer need or use. Consider hosting a garage sale or selling items online to earn some extra cash for your moving expenses . Reducing the number of items to move will not only save you money but also make the packing and unpacking process much more manageable.

“Sell or donate unwanted items,” says Eshon Howard of The Hard Body Haulers . “This will free up space in your home and reduce the amount of stuff you have to move. You can even host a garage sale or sell your items online to make some extra money.”

Latoya Wilson of Takeaway Movers notes that getitng rid of things you don’t need can save you some money. Transporting over significant distances can incur substantial expenses, particularly when moving an entire household or apartment, as charges are usually determined by the weight of your belongings.

4. Organize important documents

During a move, important documents can easily get lost or misplaced. Gather and organize essential documents such as passports, IDs, birth certificates, medical records, financial paperwork, and any contracts related to your new home. Keep them in a safe and easily accessible place, and consider carrying these documents with you personally rather than packing them in boxes.

5. Pack methodically

Packing your belongings room by room is a practical and efficient approach. Start with the items you use less frequently and work your way to daily essentials. Use high-quality packing materials to protect your belongings during transit. Invest in sturdy moving boxes, bubble wrap, packing paper, and quality tape. Fragile items should be wrapped individually to prevent damage.

Label each box with its contents and the room it belongs to. This will make unpacking a breeze and help movers place boxes in the correct rooms in your new home. Additionally, keep an inventory list of your packed items. Number the boxes and write down the contents in a notebook, or use a moving inventory app. Having a detailed list will help you ensure that nothing gets lost during transportation and will serve as a reference when filing insurance claims, if necessary.

Marcin Cwaliński of Ampol Moving, Inc suggests doing the packing yourself to stay organized and save money. “In order to keep costs down, we advise anyone who is moving to be as organized as possible,”he says. “Try to pack your own boxes, versus having a moving company to do it for you. If at all possible, bring as many items as possible to the garage or a main level of your house. This will speed things up, thus saving you money.“

6. Take inventory

“With a move of any size, it is prudent to have an accurate assessment of your property,” says Thomas Engelhart of 513 Movers . Create a detailed inventory of all your belongings before the move. It’s particularly crucial for long-distance moves, where your belongings may be transported with other items. Having an inventory will help you keep track of your possessions and ensure that everything arrives safely at your new home. It will also be beneficial for insurance purposes in case of any unforeseen accidents or damage during the move.

7. Plan your travel and accommodation

If you’re driving to your new location, plan the route in advance and make reservations for accommodations along the way if needed. Calculate the distance, travel time, and any potential stops you might want to make. Consider the best time to travel to avoid heavy traffic or inclement weather conditions.

If your move involves air travel, book your flights well ahead of time to secure the best prices. Arrange for transportation from the airport to your new home in advance. If you have pets, Move Central suggests that you ensure they have proper travel arrangements as well.

8. Notify important parties

One of the critical steps in a long-distance move is notifying relevant parties of your upcoming relocation. Inform your current and new utility providers about your move-out and move-in dates to ensure a seamless transfer of services. Also, notify your banks, insurance companies, credit card providers, and any other institutions you have accounts with about your change of address.

Don’t forget to update your address with relevant government agencies such as the postal service, the Department of Motor Vehicles, and the Internal Revenue Service (IRS). Additionally, inform subscriptions, friends, family, and other contacts of your new address to continue receiving mail and packages without interruptions.

9. Pack an essentials box

Packing an essentials box is a simple yet incredibly useful step that can save you time and stress during and after your move. Pack a box with items you’ll need immediately upon arrival at your new home. This may include toiletries, a change of clothes, important documents, basic kitchen supplies, essential tools, and any items that will help you settle in comfortably during the first few days.

Keep this essentials box with you during the move, rather than having it transported with the rest of your belongings. That way, you can easily access these important items without rummaging through packed boxes when you first arrive at your new residence.

10. Stay positive and stay flexible

Lastly, remember that moving, especially long-distance, can be challenging and unpredictable. Unexpected issues may arise, but maintaining a positive attitude and staying flexible can make the process more manageable. Embrace the adventure and the new opportunities that await you in your new location.

Source: Redfin

19 Types of Home Inspections that Buyers Should Consider

Mon, 31 Jul 2023 17:38:09 GMT

Buying a home is a significant investment, and ensuring the house is in the best condition possible is a top concern for any buyer, regardless of whether it’s your first home or investment property. It’s easy to get caught up in the excitement of buying a home, but you’ll want to make sure you include a home inspection in your list of priorities to avoid any potential issues or unforeseen costs as you get further into the homebuying process.

A general home inspection is almost always recommended for anyone buying a home. However, savvy buyers will do their due diligence by scheduling specialty home inspections, especially if the house is older or has specific features. From the roof all the way down to the foundation, there are several specialized types of home inspections you may want to consider before sealing the deal on your dream home.

Do I need a specialized home inspection?

“When discussing the importance of any type of home inspection with a client, I find the analogy of people seeing a doctor helpful,” says Brian Wendorf of Integrated Home Inspections . “Getting a home inspection is like seeing a trusted general practitioner who will evaluate overall health and recommend seeing a specialist when there is a question or concern about something that may be a latent issue. The things we can’t see can expose the greatest concerns to our underlying health. Like our bodies, a house can be seen as a holistic set of systems and structures. It’s important to get a home inspection to help understand the condition, need, and overall viability of a home’s usefulness to provide a happy and healthy place to call home or a sound investment.”

Depending on the home’s age, location, or condition, you might consider special types of home inspections to investigate potential issues common in homes in your area. General home inspections are great at giving you an idea of the overall state of the house at that point in time, but they do not typically test for things like asbestos or mold. “From crawl spaces to foundations, plumbing to HVAC systems, these inspections provide peace of mind, uncover hidden issues, and ensure you’re making a wise investment in a safe and comfortable living space,” says Luis Roses, owner of MIA Inspections . “Don’t settle for uncertainty; let comprehensive inspections protect your investment and bring you lasting peace of mind.”

When it comes to buying a home, you want to make sure you know all there is to know about the property before signing on the dotted line. In fact, here are 16 different types of home inspections you should consider:

1. Roof inspection

Most general home inspections will catch obvious roof problems, such as dark streaks or stains on your ceiling or loose shingles, with a visual inspection from the ground. However, a roof inspector will conduct a more thorough inspection that may reveal issues that aren’t visible to the untrained eye. This can include checking for leaks, unsecured shingles that could allow water to enter the home, and the condition of the gutters.

“Your roof is your home’s shield against the elements,” says Preston Smith of Mahogany Premium Home Inspections . “A roof inspection during a home inspection can help you spot problems early and save money on repairs. Peace of mind is priceless.”

2. Chimney inspection

A chimney inspection can alert you of any potential problems in the firebox or flue, buildup, or blockages that you can bring to the homeowners to fix before closing on the home . Like all inspections, the inspector will perform a visual assessment for exterior cracks or damage in the mortar and clear the chimney of any buildup of creosote (a byproduct of burning wood) that can combust if left untreated. This type of home inspection aims to prevent chimney fires and smoke or odors from seeping inside the home when the fireplace is lit during the colder months.

3. Attic inspection

The roof may look sound and secure from the outside, but there may be signs of structural damage in the attic that can be easily missed with a general inspection. If you’re planning to look for your dream home in Phoenix, AZ to enjoy sunny weather year-round, you can expect to have your air conditioning running day and night, which can easily add to your energy bill. An attic inspection will let you know if there’s sufficient or damaged insulation that needs to be remedied. Moreover, a trained specialist will have the equipment necessary to identify signs of mold or moisture that can compromise the foundation’s integrity.

4. Electrical inspection

Regardless if you’re looking at a new construction or an older home, making sure the wiring is up-to-date and complies with city codes will help you avoid any troubles later on. Safety, comfort, and improved energy-efficiency are a few of the benefits you will gain from having your electrical systems inspected by a professional. Wires can become frayed and damaged from regular wear-and-tear and pose a dangerous fire hazard to your home and family.

In addition to roof inspections, Peter Kirchgessner of Good Dog Inspections recommends that homeowners get their electrical systems looked at. “There is peace of mind in knowing the condition of the home but even more importantly is finding out what critical components are in need of repair for safety and financial reasons, he says. “A faulty or aging roof can cause water damage that can lead to mold. A dated and dangerous electrical panel or bad wiring can lead to house fires. Both are expensive repairs initially but far less expensive or dangerous if dealt with timely and with confidence before purchase.”

5. HVAC inspection

A strange sound or smell could indicate an underlying issue that could affect your HVAC system, leading to increased heating and cooling costs, or worse, needing to replace it with a whole new system. An HVAC inspection provides a clearer picture of the home’s heating and cooling system, and can even give you recommendations for repairs or energy-efficient upgrades.

6. Mold inspection

Just because you can’t see mold doesn’t mean there isn’t any lurking away in your dream home. In fact, a mold problem could indicate that the home is harboring larger issues such as water damage, leaks, or even flooding. A specialist trained in mold remediation will typically conduct a visual assessment and sample the air and surfaces in the home to determine the type of mold present. This type of home inspection may even use thermal imaging to locate damp or cold spots behind walls where mold tends to thrive.

7. Pest inspection

Termites and other wood-loving pests can cause irreparable damage to the property that is costly to replace. A general home inspection may show areas of damage that might attract these unwanted guests, but only a trained specialist can definitively identify if there is continuing presence of pests, such as termites, carpenter ants, rodents, spiders, in your home’s exterior and interior, how large the infestation is, and how long the pest has been there. Not only will it save you a headache from dealing with a potential infestation, getting a pest inspection conducted early on will let you know you’re investing in a pest-free home.

8. Lead-based paint inspection

Older homes built before 1978 – and even some after – could contain lead-based paint and are highly recommended to be tested by a trained professional. Even low levels of lead-based paint may cause health issues and can be hazardous if you’re buying a home with young children. A specialist will check for peeling or chipped paint around the house and collect samples to be tested in a lab for the presence of lead.

9. Plumbing inspection

A plumbing emergency is never convenient. To prevent issues like a sewer backup or a failing water heater from becoming a homeowner’s nightmare, investing in a plumbing inspection before making the down payment can bring underlying issues to light. A professional will either conduct a visual inspection or use a diagnostic camera to verify that fixtures and appliances are installed properly and check for signs of water damage under or behind appliances.

10. Septic inspection

Like plumbing emergencies, a malfunctioning septic system can spell costly repairs (and unpleasant odors) if not caught before you’re under contract . A trained professional will locate and assess the septic tank, sludge layer, and absorption area to ensure all components are in working order and that the tank is the right size for the home. You definitely wouldn’t want to buy a home with a failed septic system, so consider a septic inspection if you’re buying a home with a septic tank .

11. Radon inspection

If you’re looking for your future home in regions where basements are common, requesting a radon test as part of the home’s overall inspection can help bring you peace of mind. Nearly 1 out of every 5 homes in the United States has elevated radon levels, and the EPA recommends that all houses be tested for radon levels during the point of sale. In most cases, you can request the seller’s previous radon test results as part of the home inspection and use that as a point of comparison.

“Radon testing is important because it is the second leading cause of lung cancer in the US,” says New South Property Inspections owner Wes Grant. “Home Inspections are important because a house is the largest personal investment anyone normally makes so it’s imperative that you perform as much due diligence as possible to determine the potential repairs needed to maintain the value and condition of your property investment.”

12. Asbestos inspection

If you’re buying a home that was built before 1975, there’s a chance asbestos may be present in one or more of its construction materials. An asbestos inspection should be conducted by a certified asbestos removal company. Keep in mind that while asbestos tests take time, the entire home is inspected to ensure no asbestos-containing materials remain in the home you want to purchase. If the inspector recommends a removal, make sure this is addressed before signing off on the contract.

13. Pool or spa inspection

A pool is a great outdoor amenity, but not inspecting the pool’s structure and equipment systems, such as its pumps, heaters, and filters, could cause many problems down the road. Beyond being leak-free and solid, the pool’s plumbing system needs to be inspected to ensure the water is draining properly, and that the safety covers and hardware are sufficient to secure the pool when not in use.

14. Soil stability inspection

The state of the soil around the property can play an important role in determining if the home’s foundation adequately supports the soil that surrounds it. After all, you don’t want part of the hill your future home is sitting on to slide away during a rainstorm. A soil analysis by a trained professional can help prepare you for the potential issues of hillside living and will test for the probability of erosion, gillies, or mudflows due to the soil shifting.

15. Foundation inspection

Whether you’re a seasoned or first-time homebuyer, a foundation inspection can easily be overlooked when going through the types of home inspections you should consider. Large cracks in the exterior and interior walls, uneven floors, gaps between walls and the ceiling, or even doors that won’t close properly are potential warning signs that there may be bigger foundational issues that have gone unnoticed. A structural engineer can identify these problems, and you may be able to bring these up to the seller to fix during negotiations – saving you time and money by preventing the conditions from worsening.

“A foundation inspection is crucial in telling the story of a house,” says Dave Tague of Tague Home & Property Inspections . “An issue with the foundation will affect the structure above it. There will likely be angled cracking above doors and windows, and even the brick veneer on the outside of certain homes. Doors may rub and not close correctly. Supporting structures in the attic may show signs of foundation movement. A complete home inspection is always a good investment, but it all starts with the foundation.”

16. Crawl space inspection

Homes with crawl spaces in areas where there’s high humidity, like Seattle, WA , should be strong contenders for a crawl space inspection. As moisture condensates on surfaces in the crawl space, mold, wood rot, and even termite infestations can occur due to the space becoming increasingly humid. A professional will identify signs of a rotting crawl space and save you from making a costly mistake.

“It’s imperative this space is inspected,” says Richard Gaines of San Diego’s Home Inspector . “Issues such as cracked foundation walls, plumbing leaks, old electrical wiring, mold…health and safety are my main concern and all these issues directly affect the health and safety of the home and its occupants.”

17. Phase inspection

Phase inspections are a crucial aspect of the construction process for new houses. These inspections are conducted at various stages of construction, typically encompassing three key phases: pre-drywall, pre-closing, and final inspections. Phase inspections for new houses are vital to guarantee the quality and safety of the construction, providing homeowners with peace of mind and assurance that their new home meets all necessary requirements.

“Phase inspections are like checkpoints in a construction video game,” says Didya Bianchi of Bianchi Home Inspections . “By getting inspections during each phase, such as foundation, framing, and final inspections, you’ll catch any glitches or construction snafus before they become full-blown disasters.”

18. Sewer inspection

Sewer inspections play a crucial role in ensuring the functionality and integrity of the sewer system in new homes. These inspections involve a comprehensive assessment of the sewer lines and components to identify any potential issues or defects.

“Sewer line maintenance is often overlooked yet can be extremely expensive to repair or replace,” says Amanda Ables of Noble Property Inspections . “A sewer scope is a visual examination into the plumbing and sewer systems to identify any defects or damage. Common problems discovered during a sewer scope can include breakage, leaks, bellying, collapsing and clogs of the sewer lines.”

By conducting sewer inspections before the purchase or occupancy of a new home, potential buyers or homeowners can uncover any hidden sewer issues that may require immediate attention or future maintenance. Early detection of problems through sewer inspections helps prevent costly repairs and ensures a smooth and uninterrupted wastewater disposal system in the new home.

19. WDO inspection

WDO inspections, short for “wood-destroying organism” inspections, are essential evaluations conducted by licensed professionals to assess the presence of pests that can damage wood structures in homes or buildings. These inspections primarily focus on identifying termites, carpenter ants, wood-boring beetles, and other wood-destroying insects that can compromise the structural integrity of a property. During the inspection, the licensed inspector thoroughly examines the interior and exterior of the building, including crawl spaces, basements, attics, and all accessible wooden elements.

Tyler Quintard of Odyssey Home Inspection suggests that homeowners should have WDO inspections and general inspections done by different companies. “WDO inspection is a quantitative inspection, outlining all areas of concern regarding wood rot, activity, and deterioration typically paired with a bid for repairs,” he says. “These inspections should always be performed by two inspectors, and you should always do your due diligence when identifying the right professional for each that has your fiduciary interest in mind.”

Are these different types of home inspections worth the investment?

While they could add up in costs and time, specialized home inspections can give you peace of mind in the long run. “Just like a good lawyer can save you thousands down the road, a thorough home inspection can save you the heartache of unexpected repairs and replacements,” says Kyler Piedra of Kore Home Inspections . “A home inspection helps mitigate your risk and inform your purchase decision.”

“While waiving a home inspection may provide a competitive advantage in a competitive housing market, it can also expose you to significant risks,” adds Stephen Roberts of Boston Light Home Inspections . “Without a professional inspection, you might miss important information about the property, which could lead to unforeseen expenses or potential safety hazards down the line.” These types of home inspections help reveal problems in-depth that a general home inspection might only highlight as a possible issue. You can notify the current owners as soon as possible to get the repairs underway in case you want to continue with the home purchase. Addressing these issues early on in the home buying process is key to saving you money down the road.

Additionally, inspections can give you an upper hand when negotiating a sale. “Buying a home is probably the most significant investment you will make,” says Jeff Longaker of Inspect Pro LLC . “Protecting it is critical. A home inspection is an essential step in the home buying process. The inspection can uncover vital information about the house’s condition, so you are making an informed decision. Having a home inspection empowers the buyers to negotiate in certain market conditions.”

Source: Redfin

How to furnish your short-term rental

Mon, 24 Jul 2023 18:59:51 GMT

For some of us, the most fun part of the real estate journey is actually furnishing and decorating your STR properties (Okay, the revenue part is pretty great, too). But purchasing a house worth of furniture in a matter of days or weeks can be overwhelming for anyone.

There are certainly services you can employ to help you, including your property manager, but this task is also definitely something you can tackle yourself. Here’s what to consider as you get started.

What’s Your Vibe?

Always start with the mood you’re trying to create. A lake house in New England or a cabin in the Smoky Mountains has a very different feel when it comes to furnishings than a condo in Fort Lauderdale or a single-family in Austin, Texas. The furniture you bring in should support and enhance your rental’s “brand” and help your home feel representative of its town/city/surroundings. If you’re inheriting any furniture, you’ll want to consider how those existing pieces support or distract from your vibe and whether you can work with them or need to start over.

You’ll also want to consider your audience and their expectations. Are you trying to attract families? Are most of your guests on weekend getaways from the city? Or are you the luxe beachfront bungalow charging $750 a night? Or the cozy bargain one-bedroom cabin?

The answers to these questions will help you understand the expectations of your guests when they arrive. A family-friendly rental should ideally include a high chair, and a super-luxe beach bungalow should not be decorated with IKEA furniture.

What’s Your Timeline?

Do you have a few weeks to get this place listed, or do you need to get it rented yesterday? The amount of time you can personally devote to the project, as well as how much time you have before you need it rented out, will have a lot of impact on your furnishing options.

If your plan is to make all the furnishing decisions from your laptop in a weekend, your shopping options are going to be fast-delivery places like Wayfair and Amazon or one-stop-shop local furniture stores (which can range in cost and quality) that can deliver quickly. If you have a little longer, the world is your oyster.

Durability: AKA the IKEA Question

If the “vibe” of your place would work with IKEA furniture, should you do it? My advice is that with anything that will get regular use, such as couches, dressers, dining tables, and coffee tables, you’re better off skipping IKEA and buying better-quality items elsewhere. (Getting something like a mirror at IKEA is probably fine.)

IKEA furniture tends to look shabby quickly and, well, break. Over the medium and long term, you will spend more money on replacements (and more time putting it all together) than you would if you had gone for something a little more well-made and spendy in the first place.

Where Should You Shop?

The best way to get high-quality furniture, often new or almost new, at reasonable prices, is through places like Facebook Marketplace, Craigslist, and estate sales. (The good news is that guests at an STR would never expect to be the very first person to ever sit on your couch, so even in the most luxe environments, “like new” works perfectly.)

But you can’t do this kind of shopping in a day, and it’s more opportunistic hunting in that you never know what you’re actually going to find. But consider that for the price of an IKEA dresser, you can easily find a real-wood, dovetail-joined dresser that will look amazing and last for as long as you own the property. It’s a no-brainer choice if you have the time.

A few strategies to get the most out of online shopping:

Use quality brand names like “Pottery Barn,” “Crate and Barrel,” “Room and Board,” or “Restoration Hardware” in your search terms.
Send out a bunch of inquiries on Saturday morning and ask to come see the items that same afternoon. Make sure you have a vehicle that can transport your purchases, and then go from one site to the next, evaluating and hopefully buying.
Try this first: See what slots you can fill by shopping Marketplace, Craigslist, and estate sales, and then supplement with online retailers or local shops.

How do You Manage it All?

Go through each room (in your mind or in person), and list out what it needs. For example: “Bedroom 1: Queen bed, queen mattress, two bedside tables, rug, mirror, dresser, etc.” and put them all into an Excel sheet. Add columns for measurements, approximate budget, and where you’re going to look for them. Don’t forget the walls and art .

Once you’ve ordered the item, put in the actual cost (including shipping) and the date it’s scheduled to arrive to keep track of it all. Will you need someone to put furniture together when it arrives? Make sure that’s in your plan somewhere, too.

Source: Bigger Pockets Blog

The Benefits of Owning a Second Home

Thu, 20 Jul 2023 20:02:51 GMT

Owning a second home is a dream for many individuals and families, and for a good reason. Whether it's a beachfront cottage, a mountain retreat, or a cozy cabin by the lake, a second home can offer a host of benefits beyond just a place to get away. In this blog post, we'll explore some of the advantages of owning a second home and why it might be a worthwhile investment.

1. A Vacation Retreat Whenever You Want:

One of the most obvious benefits of owning a second home is having a vacation retreat at your disposal whenever you want it. No more worrying about booking accommodations, dealing with crowded hotels, or adhering to strict check-in and check-out times. With your second home, you can escape to your personal oasis at a moment's notice and enjoy uninterrupted quality time with family and friends.

2. Personal Use and Family Bonding:

Having a second home allows you to create lasting memories with your loved ones. It becomes a place where family gatherings, holiday celebrations, and special occasions can take place in a relaxed and familiar setting. This sense of continuity and tradition can strengthen family bonds and provide a cherished space for generations to come.

3. Rental Income Potential:

Beyond personal use, a second home can also serve as a source of additional income. When you're not using the property, you have the option to rent it out as a vacation rental. The popularity of short-term vacation rentals has soared in recent years, making it easier than ever to find potential renters, especially in desirable vacation destinations like Myrtle Beach, SC. This rental income can help offset some of the property's costs and potentially turn the second home into a profitable investment.

4. Potential for Appreciation:

Real estate is generally considered a valuable long-term investment, and a second home is no exception. While the primary purpose of the property might be for personal use and enjoyment, there's always the potential for property value appreciation over time. In sought-after locations, where property values tend to increase steadily, owning a second home could be a wise financial decision that yields a substantial return on investment if you decide to sell in the future.

5. Diversification of Assets:

Investing in a second home diversifies your portfolio beyond traditional stocks and bonds. Real estate often behaves differently than other financial assets, making it a valuable addition to your investment strategy. Having a tangible asset like a second home can provide a sense of security, especially during economic downturns or market fluctuations.

6. Retirement and Future Planning:

A second home can also play a significant role in retirement and future planning. As retirement approaches, many individuals choose to relocate to their second home permanently or use it as a winter retreat. By purchasing the property earlier, you can gradually make improvements and adjustments to suit your future lifestyle, ensuring a smooth transition when the time comes.

In conclusion, owning a second home offers a multitude of benefits, from providing a personal vacation retreat to offering potential rental income and acting as a diversification of your investment portfolio. Beyond the financial advantages, it becomes a place to create cherished memories and strengthen family bonds. As with any significant investment, it's essential to consider your financial situation, goals, and the location of the property. When approached thoughtfully, owning a second home can be a rewarding and enjoyable venture for you and your loved ones.

The True Cost of Selling Your House on Your Own

Mon, 10 Jul 2023 21:00:10 GMT

Selling your house is no simple task. While some homeowners opt to sell their homes on their own, known as a FSBO (For Sale by Owner), they often encounter various challenges without the guidance of a real estate agent. If you’re currently considering selling your house on your own, here’s what you should know.

The most recent Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveyed homeowners who’d recently sold their own homes and asked what difficulties they faced. Those sellers say some of the greatest challenges were prepping their home for sale, pricing it right, and properly managing the required paperwork, just to name a few.

When it comes to selling your most valuable asset , consider the invaluable support that a real estate agent can provide. By partnering with an agent, you can navigate the complexities of the selling process with confidence. Here are just a few of the many ways an agent is essential to your home sale:

1. Marketing and Exposure

Effective marketing is a key piece of attracting qualified buyers to your property. Real estate agents have access to various marketing tools and platforms, including MLS listings, professional photography, virtual tours, and extensive professional networks. They can create a compelling listing that highlights your home’s best features and reaches a wider audience.

If you sell on your own, you may struggle to match the reach of agents, resulting in limited exposure and, ultimately, fewer potential buyers.

2. Managing Liability and Legal Considerations

Today, more disclosures and regulations are mandatory when selling a house. And all that paperwork and all the legal aspects of selling a home can be a lot to manage. Selling a house without professional guidance exposes homeowners to potential liability risks and legal complications.

Real estate agents are well-versed in the contracts, disclosures, and regulations necessary during a sale. Their expertise helps minimize the risk of errors or omissions that could lead to legal disputes or delays.

3. Negotiations and Contracts

Negotiating the terms of a home sale can be challenging, especially when emotions are involved. You may find it overwhelming to navigate these negotiations alone. Without an agent, you assume this responsibility on your own. This means you’ll have full accountability for working and negotiating with:

The buyer, who wants the best deal possible.
The buyer’s agent, who will use their expertise to advocate for the buyer.
The home inspection company, who works for the buyer.
The home appraiser, who assesses the property’s value to protect the lender.

Rather than going toe-to-toe with all these parties alone, lean on an expert. Real estate agents act as intermediaries, skillfully negotiating on your behalf and ensuring that your best interests are protected. They have experience in handling tough negotiations, counteroffers, and contingencies. When you sell your house yourself, you’ll need to be prepared to manage these vendors on your own.

4. Pricing and Housing Market Knowledge

Determining the right asking price for your property is crucial. It requires in-depth knowledge of the local real estate market, including recent sales data, neighborhood trends, and the current demand for properties. Real estate agents have access to comprehensive market data and the expertise to analyze it accurately.

When you sell your house on your own without this comprehensive information, you risk overpricing or underpricing your home. This can result in an extended time on the market and also the risk of leaving money on the table – which decreases your future buying power. An agent is a key piece of the pricing puzzle.

Bottom Line

While selling a home on your own might seem appealing at first, the challenges that come with it can quickly become overwhelming. The expertise that a real estate agent brings to the table is vital for a successful sale. Instead of tackling it alone, make sure you have an expert on your side.

Source: Keeping Current Matters

What is An Appraisal Contingency and How Can it Impact Your Homebuying Journey?

Mon, 03 Jul 2023 16:08:51 GMT

Are you a first-time homebuyer ? Or are you a seasoned buyer looking to upgrade or downsize your living space? Regardless of your experience, navigating the housing market can be daunting, especially when it comes to understanding the complex jargon and legalities involved in purchasing a property. One important concept that all homebuyers should be familiar with though is the appraisal contingency. In this guide, we will explore what an appraisal contingency is and how it can impact your homebuying journey.

What is an appraisal contingency?

When a buyer applies for a mortgage to purchase a home, the lender requires an appraisal of the property to determine its fair market value. If the appraisal comes in lower than the agreed-upon purchase price, the buyer may not be able to obtain financing for the full amount, and may have to pay the difference out of pocket or renegotiate the terms of the sale.

What is a contingent offer?

For example, a buyer might make a contingent offer on a property they want to purchase, but the offer is contingent upon the sale of their current home. If their home sells within a specified period, the contingent offer becomes a firm offer and the sale proceeds as planned.

How does an appraisal contingency work?

An appraisal contingency states that the sale of the property is contingent upon the property being appraised for a certain value. Here’s how it works:

The buyer and seller agree on a purchase price for the property.
The buyer has a professional appraiser evaluate the property to determine its value. The appraiser considers factors such as the property’s size, location, condition, and recent comparable sales in the area .
If the appraised value of the property is equal to or higher than the purchase price agreed upon by the buyer and seller, then the contingency is satisfied, and the sale can proceed as planned.
If the appraised value of the property is lower than the agreed-upon purchase price, then the buyer has several options, such as:

Negotiate with the seller to lower the purchase price to match the appraised value.
Request that the seller make repairs or upgrades to the property to increase its value.
Walk away from the sale altogether, as the contingency allows them to do so without penalty.

An appraisal contingency is important because it protects the buyer from overpaying for a property that is not worth the purchase price. It also provides a way for the buyer to renegotiate or back out of the sale if the property is appraised at a lower value than expected.

Difference between the appraisal contingency and a finance contingency

An appraisal contingency and a finance contingency are two common types of contingencies included in a real estate purchase agreement. Here are the key differences between them:

Definition : An appraisal contingency is a clause in a real estate purchase agreement that makes the sale of the property contingent upon the property’s appraised value meeting or exceeding a certain amount. A finance contingency, on the other hand, is a clause in a real estate purchase agreement that makes the sale of the property contingent upon the buyer obtaining financing to purchase the property.
Purpose : The purpose of an appraisal contingency is to protect the buyer from overpaying for the property. Whereas, the purpose of a finance contingency is to protect the buyer from being contractually obligated to purchase the property if they are unable to secure financing.
Timing : An appraisal contingency is typically included in the initial purchase agreement and is usually resolved during the inspection period. A finance contingency is also typically included in the initial purchase agreement and is resolved once the buyer has secured financing, which may take several weeks.

What happens when the house appraises for less than your offer?

If the house appraises for less than the offer, it means that the appraised value of the property is less than the agreed purchase price. This situation can have several consequences, including:

Renegotiation of the purchase price : If the house appraises for less than the offer, the buyer can negotiate with the seller to reduce the purchase price to match the appraised value. If the seller agrees to reduce the price, the buyer can proceed with the purchase.
Additional down payment : If the buyer still wants to purchase the property at the agreed price, even though the appraisal value is less, the buyer may need to make a larger down payment to compensate for the shortfall in the appraised value. This is because the lender will only provide a mortgage loan up to the appraised value of the property.
Cancelation of the deal : If the seller is not willing to renegotiate the purchase price, and the buyer is unable or unwilling to make a larger down payment, the deal may be canceled. This can be frustrating for both parties, as it means that the transaction cannot proceed as planned.

It’s important to note that a low appraisal is not always a deal breaker. If the buyer and seller are willing to work together to find a mutually acceptable solution, they may still be able to proceed with the purchase.

Appraisal contingency example

Here’s an example of how an appraisal contingency might be used in a real estate transaction:

Bob is interested in buying a house in Las Vegas that is listed for $400,000. He makes an offer of $400,000, and the seller accepts his offer. However, before the sale can go through, the property must be appraised to ensure that the purchase price is fair and reasonable.

If the appraisal comes back and values the property at $380,000, Bob has the option to either:

Walk away from the deal and receive his earnest money deposit back.
Negotiate with the seller to lower the purchase price to match the appraised value.
Agree to pay the original purchase price even though the property was appraised for less.

In this scenario, Bob has the protection of an appraisal contingency, which allows him to back out of the deal or renegotiate the price if the property doesn’t appraise for the agreed-upon amount.

What is an appraisal gap clause?

An appraisal gap clause is a provision in a real estate contract that addresses the difference between the appraised value of the property and the purchase price agreed upon by the buyer and seller.

When a buyer obtains financing to purchase a property, the lender will also require an appraisal to ensure that the property is worth the amount of the loan. In a competitive real estate market, a buyer may offer to pay more than the appraised value of the property in order to secure the purchase. In this case, an appraisal gap clause can be included in the contract to address the potential difference between the purchase price and the appraised value.

The clause may state that if the appraised value comes in lower than the purchase price, the buyer will be responsible for paying the difference out of pocket, up to a certain amount. Alternatively, the clause may allow the buyer to back out of the contract or renegotiate the purchase price if the appraised value is significantly lower than the agreed-upon price.

An appraisal gap clause is designed to protect both the buyer and the seller by providing a clear understanding of how to proceed if the appraised value differs from the purchase price.

When should I use or waive an appraisal contingency?

Here are some factors to consider when deciding whether to use or waive an appraisal contingency:

Use an appraisal contingency when:

You are obtaining financing : If you are obtaining financing to purchase the property, the lender will typically require an appraisal to determine the value of the property.
The property is unique: If the property is unique and there aren’t many comparable properties to use for the appraisal, it may be wise to include an appraisal contingency to protect yourself in case the appraiser values the property lower than the purchase price.
You are concerned about overpaying: If you are concerned that you may be overpaying for the property, including an appraisal contingency can give you an out if the property doesn’t appraise for the purchase price.

Waive an appraisal contingency when:

You are a cash buyer : If you are a cash buyer and don’t need financing to purchase the property, you may consider waiving the appraisal contingency. In this case, you would be assuming the risk that the property won’t appraise for the purchase price, but if you are comfortable with that risk, waiving the contingency can make your offer more attractive to the seller.
The property is in high demand: If the property is in a highly competitive market and there are multiple offers, waiving the appraisal contingency can make your offer more competitive. However, be aware that if the property doesn’t appraise for the purchase price, you may be responsible for making up the difference in cash.
You are confident in the value: If you have done your own research and are confident that the property is worth the purchase price, you may consider waiving the appraisal contingency. However, be aware that if the property doesn’t appraise for the purchase price, you may again be responsible for making up the difference in cash.

What determines the appraisal value of a home?

The appraisal value of a home is determined by a licensed appraiser who evaluates various factors such as:

Property characteristics: The appraiser considers the square footage of the property, the number of bedrooms and bathrooms, the age of the property, and any unique features such as a pool or fireplace.
Location: The appraiser looks at the location of the property, including the neighborhood, nearby amenities, and school district.
Comparable properties: The appraiser compares the property to recently sold properties in the area that are similar in size, age, and features to determine a fair market value.
Condition of the property: The appraiser evaluates the condition of the property, including any needed repairs or updates.
Market trends: The appraiser considers market trends and economic conditions that may affect the value of the property.
Zoning and use restrictions: The appraiser takes into account any zoning or use restrictions that may affect the value of the property.

All of these factors are taken into consideration by the appraiser to determine the fair market value of the property. The appraisal value is important in determining the maximum amount a lender is willing to finance and helps the buyer and seller negotiate a fair price for the property.

What are other types of real estate contingencies?

There are several other types of real estate contingencies that buyers may include in their purchase contracts to protect themselves. Here are some common types of contingencies:

Financing contingency: This contingency allows the buyer to back out of the transaction if they are unable to secure financing to purchase the property.
Inspection contingency: This contingency allows the buyer to have a professional home inspection conducted to identify any issues with the property. If significant issues are found, the buyer can negotiate repairs or back out of the transaction.
Title contingency: This contingency allows the buyer to back out of the transaction if there are issues with the property’s title, such as liens or disputes over ownership.
Home sale contingency: This contingency is used when the buyer needs to sell their current home before purchasing the new property. If the buyer is unable to sell their home, they can back out of the transaction.

Including these contingencies in the purchase contract can give the buyer more protection and flexibility during the transaction. However, it’s important to note that including too many contingencies can make the offer less attractive to the seller, so buyers should consider which contingencies are most important to them.

FAQs about appraisal contingencies

Is there an appraisal contingency deadline?

The appraisal contingency deadline is negotiated between the buyer and seller and is typically set at 7 to 10 days after the appraisal is conducted. If the buyer misses the deadline, they may lose their right to terminate the contract based on the appraisal results. It’s important to understand and meet all the deadlines in the contract with the help of a real estate agent or attorney.

How long is an appraisal good for?

Appraisals are typically considered valid for 120 days (4 months) from the date of the report, but the validity period can vary depending on the type of loan and the lender’s requirements. Government-backed loans may have a longer validity period of up to 180 days (6 months). However, market conditions and other factors can affect the value of the property over time, so the appraisal is only a snapshot of the property’s value at a specific point in time.

Can a seller back out if the appraisal is high?

It’s rare for a seller to back out of a transaction because the appraisal value is high. Generally, once the purchase agreement is signed, the seller is legally bound to sell the property to the buyer at the agreed-upon price, regardless of the appraisal value. However, there may be some exceptions depending on the terms of the contract and state laws. Buyers and sellers should review the purchase agreement carefully and consult with a real estate agent or attorney if they have concerns.

Who pays for an appraisal?

In a typical home purchase transaction, the buyer is responsible for paying for the appraisal as part of their closing costs . However, in some cases, the seller may agree to pay for the appraisal.

How long does an appraisal take?

The timeframe for an appraisa l can vary depending on factors such as the size and complexity of the property, the appraiser’s workload, and local market conditions. Generally, the appraisal process can take anywhere from a few days to a few weeks.

How much does an appraisal cost?

The cost of an appraisal varies depending on the location, size, and complexity of the property, but it typically ranges from a few hundred dollars to several hundred dollars.

Source: Redfin

5 Things to Do Before and After Closing

Mon, 26 Jun 2023 16:41:27 GMT

Your journey doesn't end on closing day. Here are some next steps to consider before you actually move in.

You’ve been house shopping for months or even years. You’ve endured a series of offers, property disclosures, inspections and reports. Finally, after so much excitement, stress and anxiety, the house hunt has come to an end.

But the story isn’t over yet. Here are some next steps to consider before you actually move in.

1. Plan renovations well in advance

Rarely does a buyer get a place that’s move-in ready. By the time you’ve signed a contract, you have lots of ideas about how you’ll live in the home, how you’ll customize it and what work needs to be done.

If the place needs work, don’t wait until you’ve closed to engage a professional. Either at your final walkthrough or during a private appointment, get the proper contractors in the house and start collecting bids for necessary work. If possible, have floor sanding, painting or small fix-it work done before you move in. Real estate agents work with all kinds of tradespeople, so they’re often a great resource for referrals.

2. Set up the utilities

Some people assume the utilities will work once they walk in. While many utility companies have grace periods (the days between when the seller cancels service and the new owner calls), you can’t always assume this will be the case. If you have an out-of-town seller, they may have canceled services the day they knew all contingencies were removed. In this instance, the grace period likely lapsed, and you may be stuck dealing with the electric company, waiting for an appointment or just being without power when you really want to start painting, fixing or cleaning.

The best plan is to call the utility companies and get service set up well before closing. If they haven’t received cancellation notice from the seller, let the seller know to take care of that.

3. Change the locks

Assume that everyone has a set of keys to your new home. The seller’s real estate agent likely gave copies to their assistant, a painter, a stager or even another agent at some point during the listing period. That’s why the first person you should call after getting the keys is a locksmith.

4. Hire a cleaning crew

There’s nothing worse than showing up with the movers, dozens of boxes and your personal belongings only to discover the seller hasn’t had the place cleaned.

Assume the worst and get a professional cleaning crew in there the minute after closing. Even if the seller did clean, they may have done a poor job. You want to start life in your new home with a clean slate. The bones of the place will be sparkling clean, and you won’t be scrambling to get cleaners in while the home is in a state of unpacking disarray.

5. Have a handyperson, contractor or designer on call

Moving involves the kind of stuff you wouldn’t wish on your worst enemy. Things like aligning your framed artwork, centering the couch in the living room or getting the large rug set up in the master bedroom can drive you crazy.

While it may seem like a luxury, investing a few hundred dollars in hiring someone to help with these tasks will save time and potentially relieve you of a giant headache.

Thinking ahead is the way to go

As your closing date draws near, you’re probably exhausted. But taking a little extra time to plan ahead will save you time, money and stress — and make the move into your new home so much more satisfying.

Source: Zillow

The Pros and Cons of Buying a Fixer-Upper: Is It Right for You?

Mon, 12 Jun 2023 18:06:33 GMT

Are you thinking of buying a fixer-upper? These properties offer a special opportunity for investors to put their unique touch on a property while potentially increasing its worth. However, it's important to truly comprehend both the pros and cons that come with this type of endeavor. Today, we'll dive into the advantages and disadvantages of investing in a fixer-upper, providing empowerment for you to make an educated decision about whether it's the right move for you.

Pros of Buying a Fixer-Upper:

Lower Purchase Price: Buying a fixer-upper can have a significant advantage over buying a move-in ready home due to the lower purchase price. These properties are commonly priced below market value, offering an opportunity to secure a home in a desirable location at an affordable price.
Personalization and Creative Control: You can customize and personalize a fixer-upper according to your preferences.The property can be transformed into your dream home in a variety of ways, from choosing finishes and materials to choosing the layout.
Potential for Equity and Appreciation: Renovating a fixer-upper can build equity and increase the property's value if you invest time, effort, and money. When the time comes to sell the home, you may enjoy a significant return on investment if you make wise renovation choices.
Opportunity to Learn and Gain Experience: Taking on a fixer-upper and renovations can be a valuable learning experience, especially for aspiring DIYers or those interested in whole-home renovations. It gives you the opportunity to grow your knowledge of home improvement, construction, and interior/exterior design while developing valuable life skills that can benefit you in future projects.

Cons of Buying a Fixer-Upper:

Time and Effort: Renovating a fixer-upper requires a significant investment of time and effort. From planning and budgeting to coordinating contractors and overseeing the renovation process, it can be a time-consuming endeavor. If you have a busy lifestyle or limited availability, it's essential to consider whether you can dedicate the necessary resources to the project.
Uncertainty and Unexpected Costs: Fixer-uppers often come with unforeseen issues and hidden expenses. Structural problems, outdated electrical or plumbing systems, or unexpected repairs can add to the overall renovation costs. It's crucial to conduct thorough inspections and budget for potential contingencies to avoid financial surprises.
Temporary Disruption to Daily Life: During the renovation process, you may need to live in a construction zone or find temporary accommodations, which can disrupt your daily routine and add further expenses. Consider the inconvenience and additional costs associated with living elsewhere during the renovation period.
Lack of Guarantees: When purchasing a fixer-upper, there are no guarantees that your investment will pay off. The real estate market and property values can fluctuate, and the success of your renovation project depends on various factors. It's essential to carefully evaluate the potential return on investment and consult with professionals before making a final decision.

Conclusion

Buying a fixer-upper can be a rewarding venture for those willing to put in the time, effort, and resources. It offers the opportunity to create a home that reflects your unique style and potentially build equity. However, it's crucial to weigh the pros and cons, consider your lifestyle, budget, and renovation skills before taking on such a project. If you're up for the challenge and have a vision for transforming a property, a fixer-upper might be the perfect investment for you. Remember, consult with professionals, create a realistic budget, and carefully evaluate the potential risks and rewards to make an informed decision that aligns with your goals and aspirations.

To-Dos: Your June Home Checklist

Mon, 05 Jun 2023 19:04:36 GMT

Summer officially begins June 21, but why wait until then to get into the summer spirit? Get a jump-start by prepping your home and garden for warm weather, setting up the perfect drip-dry spot for beach towels, reorganizing the kitchen (hello, smoothie bar) and more. These 21 to-dos cover all the bases, so you can enjoy the season to the fullest.

Things to Check Off Your List in an Hour or Less

Make your summer must-do list. Beach days, lemonade on the porch, pick-your-own fruit farms — with so much to look forward to in summer, don’t let it zip by in the blink of an eye. Be sure you are making the most of your season by creating a list of your personal must-dos and posting it where you can see it. A big chalkboard or family bulletin board would be ideal.

Empty standing water regularly. The best way to keep mosquito populations down is by regularly checking your property for standing water and emptying it. Even a saucer of water can become a mosquito nursery, so leave no pot unturned!

Tackle These Tasks Over a Weekend

Install screen doors. If you use them, now is the time to take down the storm doors and put up screen doors to let the summer breezes pour in. Be sure to inspect screens carefully, patching holes as needed — even a tiny hole can be enough to let in a mosquito.

Check play equipment for safety. Over time, wood, ropes and fastenings can degrade, making outdoor play equipment potentially unsafe. Check swings, zip lines, slides and other structures for safety; repair or replace as needed.

Reorganize your kitchen. The change in seasons is a good time to rethink how you have things arranged in the kitchen. If there are small appliances you use more in the warmer months (a blender for smoothies, perhaps, or an ice cream maker), move them to a more accessible spot, and you will be more likely to use them.

Stations devoted to a certain purpose can also do wonders. If you have children on summer vacation, create a self-help station stocked with healthy snacks . Or create an iced-coffee bar or smoothie-making station for yourself with all needed supplies within reach.

Make space for summer crafts. A dedicated space for arts and crafts can provide screen-free entertainment and a creative outlet — and it’s not just for kids! Even if you must work all summer, having a space to devote to a hobby can re-energize and inspire you.

Organize and put away school papers. If you do have kids, at the end of the school year, it can be tempting to jump right into summer. But taking the time to sort through each child’s school things will help prevent clutter from piling up, and you can start the summer fresh. Sort through the papers, artwork and projects from the year, choosing the best representative pieces (and those that most pull at your heartstrings) to save in a portfolio or document box and then recycling the rest. If you want to preserve more than you can keep, consider scanning the artwork into your computer and creating a photo book with the pictures.

Keep cooling systems running smoothly. Take the time before hot weather sets in to dust ceiling fans, install window air-conditioning units and schedule maintenance for a whole-house cooling system.

Lighten up decor. Roll up heavy rugs, put crisp percale or cooling linen sheets on the beds and bring in accents in lighter hues for the warmer months ahead. Breezy white curtains look delightfully cool in summer, but if the weather gets quite hot where you live, you may want to leave heavy window coverings in place. Closing the shades during the heat of the day can actually help keep your house cooler.

Plant bee-friendly flowers. Help give pollinators a place to thrive by adding bee-friendly native plants to your garden now for fall blooms. Which flower species you choose will depend on your region; ask for assistance at a local nursery specializing in native plants if you are unsure.

Keep an eye on irrigation systems. A faulty sprinkler or irrigation hose that goes unnoticed can quickly cause big problems for your lawn and garden. Make a habit of checking each component once a week, especially in summer.

Give your garage or shed a clean-out. Since you’ll likely be spending more time in your outdoor spaces during the summer, it’s a good idea to take some time at the start of the season to clear out space in your storage area. Take old paint cans to a hazardous waste drop-off point, sell or give away items you no longer want and organize what’s left into zones of use: garden tools and supplies, outdoor adventures and sports gear, and household tools.

Get seasonal gear ready. What with camping and beach trips, summertime activities come with a lot of gear. Get it cleaned up and ready now, so you’re not surprised by a leaky tent or blown-out beach umbrella when it’s too late to replace them. And if you plan to waterproof anything (tents or outdoor tablecloths, for example), now is the time.

Clean gutters and downspouts. If you did not get your gutters cleaned in spring, be sure to get this essential task checked off your list as soon as possible. Leaf- and debris-clogged gutters can lead to leaks and siding damage with summer storms.

Schedule major outdoor projects. Whether you are dreaming of a new patio or need to replace a deck , don’t delay booking a landscape architect or contractor for your projects. Their schedules are especially tight right now.

Catch up on projects and maintenance. No one is perfect, and chances are there are a few home-maintenance projects you’ve been meaning tackle. Why not make June the month to get caught up?

Source: Houzz

Top 5 Ways To Add Value To Your Home: Kitchen & Bathroom Renovations, Square Footage, Curb Appeal, And Energy-Efficient Upgrades

Tue, 23 May 2023 18:59:54 GMT

Whether you're looking to sell your home in the near future or just want to increase its value, there are several ways to make your property more attractive to potential buyers. In this article, we'll explore the top 5 ways to add value to your home, including kitchen and bathroom renovations, adding square footage, improving curb appeal, and making energy-efficient upgrades.

Kitchen Renovation

The kitchen is often considered the heart of the home, and a well-designed and updated kitchen can significantly increase the value of your property. If you're considering a kitchen renovation, there are several upgrades that can make a big impact. Some of these upgrades could include new appliances, countertops, cabinets, and flooring.

When choosing new appliances, consider stainless steel models, as they are often more attractive to buyers and tend to hold their value better than other finishes. Porcelain is another material that can give your kitchen a timeless beauty and is guaranteed to stand the test of time. You can check Caesarstone's Porcelain collection f or more inspiration . Cabinets can be refinished or replaced entirely, depending on your budget and the current state of your kitchen. When it comes to flooring, hardwood or tile are often seen as the most desirable options.

It's important to remember that when renovating your kitchen, it's best to focus on quality over quantity. A well-designed and updated kitchen with high-quality finishes is more likely to appeal to potential buyers and increase the overall value of your home.

Bathroom Remodel

Similar to the kitchen, updated bathrooms can also add significant value to your home. Upgrades could include new fixtures, tile work, vanities, and lighting. When it comes to fixtures, consider replacing outdated or worn faucets and showerheads with new, modern options. Similarly, upgrading your tile work can make a big impact on the overall look and feel of your bathroom. Vanities can be refinished or replaced entirely, depending on your budget and the current state of your bathroom.

When it comes to lighting, consider installing new fixtures or updating existing ones with energy-efficient LED bulbs. LED lighting not only saves energy but can also add a modern touch to your bathroom. A well-designed and updated bathroom with high-quality finishes is sure to attract potential buyers and increase the overall value of your home.

Adding Square Footage

Adding square footage to your home, such as a bedroom, a living room, or a home office can significantly increase its value. This could be accomplished through an addition or by finishing an existing basement or attic. If you're considering adding square footage, it's important to work with a contractor or architect to ensure that the new space is both functional and attractive.

When adding square footage, consider the needs of potential buyers. A home office or additional bedroom could be attractive to a family, while a living room or entertainment space may be more appealing to young professionals. It's also important to ensure that the new space flows well with the existing layout of your home and doesn't feel cramped or overcrowded.

Curb Appeal

The exterior of your home is the first thing potential buyers see, and investing in landscaping, painting, and other exterior upgrades can make a big impact on the perceived value of your property. When it comes to landscaping, consider planting colorful flowers or shrubs and maintaining a well-manicured lawn. A fresh coat of paint on your front door or shutters can also make a big impact.

Other exterior upgrades could include replacing your roof or siding, installing new windows or doors, or adding outdoor lighting. It's important to choose upgrades that fit within your budget and make a big impact on the overall look and feel of your home.

Energy-Efficient Upgrades

Energy-efficient upgrades to your home not only add value to your property but also save you money on utility bills. Here are some energy-efficient upgrades to consider:

New Windows: Upgrading to energy-efficient windows can prevent heat loss during the winter and keep your home cooler during the summer. Look for windows with a low U-factor and Solar Heat Gain Coefficient (SHGC) to maximize energy efficiency.
Insulation: Insulating your home can prevent heat loss during the winter and keep your home cooler during the summer. Consider adding insulation to your attic, walls, and floors to improve energy efficiency.
HVAC System: Upgrading to a high-efficiency HVAC system can significantly reduce your energy bills. Look for systems with high SEER (Seasonal Energy Efficiency Ratio) and AFUE (Annual Fuel Utilization Efficiency) ratings for maximum energy efficiency.
Smart Thermostat: Installing a smart thermostat can help you save money on energy bills by allowing you to adjust your home's temperature remotely. Some smart thermostats even learn your heating and cooling preferences and adjust accordingly.
LED Lighting: Switching to LED bulbs can significantly reduce your energy bills and last longer than traditional bulbs. LED lighting also emits less heat, making your home more energy-efficient during the summer.
Solar Panels: Installing solar panels on your home can significantly reduce your energy bills and even earn you money by selling excess energy back to the grid. However, solar panels can be expensive to install, so it's important to do your research and consider the long-term benefits.

By making these energy-efficient upgrades to your home, you can not only increase its value but also reduce your environmental footprint and save money on energy bills. Please be reminded that it's important to choose upgrades that fit within your budget and consider the long-term benefits.

Source: Realty Biz News

It May Be Time To Consider a Newly Built Home

Mon, 15 May 2023 17:24:07 GMT

If you’re looking to buy a house , you may find today’s limited supply of homes available for sale challenging. When housing inventory is as low as it is right now, it can feel like a bit of an uphill battle to find the perfect home for you because there just isn’t that much to choose from. If you need to open up your pool of options, it may be time to consider a newly built home.

According to the latest data from the U.S. Census, there’s positive news when it comes to new home construction. When you look at the first three months of this year, you’ll find:

More new homes were completed and are ready to sell. This gives you more move-in-ready options for your search.
Builders broke ground and started construction on more single-family homes. This means there are more homes intended for one household in the beginning stages of construction, allowing you the opportunity to customize one to your liking.
The number of permits for building new single-family homes ticked up. This shows builders are ramping up to start on even more home construction soon.

And, while this is all good news for broadening your options for your home search, there are other perks that come with considering a newly built home.

Customization

When you buy a new home under construction, you can tailor it to your unique needs and taste. Bankrate  says :

“Building means customizing. . . . instead of wishing your home had a certain kind of flooring, a sunroom or some other special amenity, you’ll be able to tailor the property to your exact needs.”

Brand New Everything

Another perk of a new home is that nothing in the house is used. It’s all brand new and uniquely yours from day one.

Minimal Repairs

And, because everything is new, you’ll likely find there are fewer maintenance and repair needs up front. As Realtor.com explains :

“. . . if something does go wrong with your new home, not only are there likely some manufacturer warranties in place, but many builders also include additional home warranties . . .”

Energy Efficiency

Lastly, building a home gives you the opportunity to incorporate more energy-efficient options that can help lower your costs over time – which can feel especially important when inflation’s raising many of the costs around you.

Bottom Line

If you’re having trouble finding your dream home in today’s market, it may be time to consider newly built homes as an option. Partner with a real estate professional to learn more about what’s available in your local area.

Source: Keeping Current Matters

A Homebuyer’s Guide To Earnest Money

Mon, 10 Apr 2023 21:13:04 GMT

Earnest money may not be the most well-known component of a home purchase, but it’s nonetheless an important one. The aptly named “good faith” payment is an important reminder that the real estate industry is not immune to negligence or malicious activity. More importantly, however, it provides a relative system of checks and balances which attempts to hold buyers and sellers to their word. Though small, a good faith deposit carries large implications, which begs the question: What is earnest money? Better yet, how can buyers navigate their own earnest money deposits and protect their financial interests?

What Is Earnest Money?

Earnest money is a deposit made on behalf of prospective homebuyers to express their sincerity in following through with a purchase. Otherwise known as a good faith deposit, earnest money is essentially a safety measure put in place to protect sellers after each side of a real estate transaction enters into a purchase agreement. If for nothing else, the seller needs some reassurance that the buyer will follow through with the purchase. In return for taking the home off the market (and risking a financial hit), the buyer will provide an earnest money payment which is typically equal to 1% – 3% of the sale price. As a deposit, the payment is held in an escrow account until the deal is complete. Upon closing the deal, the seller will return the cash to the buyer. If the deal falls through, the seller is entitled to keep the money if the previously agreed upon criteria are met.

How Earnest Money works

More often than not, the cash is delivered to sellers when the impending buyer signs a purchase agreement . At that time, the seller will pull the home off the market and take on financial risk, so it’s only fair that that buyer puts some “skin in the game.” That said, there’s no reason prospective buyers couldn’t include the funds with their initial offer. In a market as competitive as today’s, the addition of cash with an offer could go a long way in beating out the competition. Those considering including a good faith payment with the offer to make it look more attractive will want to put up enough money to seem serious, but not so much as to put excess capital at risk.

Including an earnest money deposit with an offer will show sincerity, but it can also be a bit premature. If for nothing else, the seller will typically want to be included in the negotiations, which set the terms of the good faith payment. As a result, terms are usually discussed at the time the purchase agreement is signed. The terms will determine how much of a good faith payment will be deposited and the terms which will unlock it from escrow. Terms will include contingencies that allow the buyer to get the money back if they don’t buy the home. For example, a buyer may receive their deposit back if the home doesn’t pass inspection.

Once the seller receives the deposit, the earnest money is transferred into an escrow account, where it is held until the criteria which unlock it is met. Since the purchase agreement is contingent on several things, it does not obligate the buyer to follow through with a purchase. Still, the contract will require the owner to take the home off the market while it’s appraised and inspected. The owner may be losing out on subsequent offers in that time, so the earnest money serves as a bit of a safety net.

If the buyer pulls out of a transaction, the seller will most likely be able to keep the cash. There are extenuating circumstances that will enable the buyer to recoup their deposit, but those terms are unique to each contract. If the buyer can follow through with the transaction, the cash may be applied to the down payment and closing costs.

Example Of Earnest Money

Let’s say, for example, Louise has finally saved up enough money to place a down payment on her first house, and she’s ready to make the leap to homeownership. Over the course of looking for a house, she stumbles across the perfect property in a neighborhood she has always dreamed of living in. At $100,000, the house is within her budget, so Louise decides to make an offer. Thanks to a well-written offer letter, the homeowner agrees to sell to Louise and enters into a purchase agreement.

When the agreement is signed, the owner is required to take the home off the market so it may be inspected and appraised. Louise agrees to negotiate an earnest money deposit in return for the financial risk being placed on the homeowner by taking their home off the market.

The negotiations require Louise to pay an earnest money deposit of 1.0% (or $1,000). The terms also state that Louise will get her money back if the deal falls through because of a failed inspection or the appraisal brings up some red flags. Finally, the homeowner will keep the deposit if Louise doesn’t follow through on the purchase.

With the terms set, Louise pays the earnest money deposit with a wire transfer directly into an escrow account that is held by the real estate brokerage dealing with the transaction. The money will sit in the escrow account until the agreed-upon terms unlock it. Fortunately for Louise’s sake, the home passed inspection, and the appraisal was what she expected. Louise closed the deal when all was said and done and applied the money to the closing costs she incurred. In the end, Louise got the house she always wanted, and the seller got the peace of mind they needed.

How Much Earnest Money Is Enough?

To be clear, there’s no universal rule for exactly how much to offer as an earnest money deposit. Instead, the amount of cash prospective buyers should offer is directly correlated to the current state of the real estate market. A slow market without much competition, for example, poses less of a risk to sellers who take their homes off the market when a purchase agreement is signed. As a result, the earnest money won’t need to be a significant amount. On the other hand, a competitive market implies the seller will miss out on multiple offers when they take their home off the market. Therefore, it’s only fair that the deposit is increased in active markets. While most earnest money deposits will rest somewhere in the neighborhood of 1% – 3% of the sale price, it’s entirely possible the amount increases in more competitive markets.

Does Earnest Money Get Refunded?

Earnest money may be refunded to a buyer when agreed upon contingencies are met. With that in mind, here’s a list of the most common reasons earnest money may be refunded:

Home Inspection Contingency: Cash may be refunded to the buyer if the contract includes a home inspection contingency and the subject property fails the inspection. If for whatever reason, the inspection is to blame for the buyer backing out of the deal, the home inspection contingency may result in a refund of the earnest money.
Appraisal Contingency: An appraisal contingency helps protect buyers from homes which are overvalued. Therefore, if an appraisal comes in well below the sales price, the buyer may withdraw from the purchase and receive their earnest money in full.
Financing Contingency: In the event a buyer never receives approval for financing, a financing contingency may allow them to get their earnest money deposit back when they pull out of a deal.
Existing Home Contingency: Some contingencies are subject to the sale of an existing home. This particular contingency states that a buyer may back out of a deal if their current home does not sell, depriving them of the funds necessary to make a subsequent purchase. If that’s the case, the buyer may also get their earnest money back.

Can A Seller Keep Earnest Money?

A seller may keep earnest money if any of the terms in the purchase agreement are broken. More specifically, however, the purchase agreement will outline the terms of the earnest money deposit. As a signed agreement, the prospective buyer is obligated to follow the terms which were agreed upon by each party. Therefore, if the buyer breaks any of the terms they agreed to adhere to, the seller is entitled to the deposit. If, for example, the buyer pulls out of a deal for no reason at all, the seller can keep the earnest money they are owed (as long as the terms say as much).

How To Protect Your Earnest Money

Protecting earnest money has more to do with following the terms of a purchase agreement than anything else. It is the terms of the agreement which will serve as the basis of protection. With that in mind, however, the best way to protect your money is to write up an air-tight contract that gives buyers the greatest odds to recoup their money in the event unexpected circumstances occur.

Contracts aren’t going to write themselves, which means buyers need to know what to include. Here’s a list of the steps buyers can take to protect their earnest money deposits:

Put the money in an escrow account
Include contingencies in the purchase agreement
Follow the terms of the purchase agreement
Make sure everything is in writing

1. Use An Escrow Account

Every purchase agreement should include a detailed account of where earnest money will be held. While most earnest money deposits are held in an escrow account, it is possible to hold it with a title company or legal firm. Nonetheless, any good faith money must go through an account controlled by an unbiased third party. The real estate market isn’t immune to fraud, and enlisting the services of a third-party account will go a long way in securing each party’s capital.

Typically, the buyer will pay by one of three methods: certified check, wire transfer, or personal check. Whichever method is used, the payment should be made out to the third-party account; that way, they can distribute the funds whichever way the purchase agreement dictates.

2. Understand Your Contingencies

Protecting earnest money starts and ends with the purchase agreement. However, it’s not enough to understand the terms agreed upon. Buyers need to negotiate for the terms they want to see in the purchase contract. Of course, that starts with knowing what contingencies may be included in a purchase agreement. Therefore, buyers will want to research all of the contingencies that give them the best odds of getting their money back and try their best to get them into the contract.

In addition to adding contingencies, buyers need to understand exactly what they mean. Only when a buyer is fully aware of what each contingency requires will they be able to truly protect their deposit. It isn’t until a buyer knows how to meet their obligations that they’ll be able to tilt the odds in their favor.

3. Don’t Miss Your Deadlines

A large part of protecting an earnest money deposit has to do with adhering to deadlines. Buyers who do what they say within the allotted time frame and follow the terms of the purchase agreement are the only ones who stand a chance of getting their money back. Therefore, work within the rules of the contract and do not miss deadlines if you ever want to see your earnest money again.

4. Put Everything In Writing

Again, it all comes down to the purchase agreement. The purchase agreement represents a contract between buyers and sellers and outlines exactly how the earnest money will be dealt with. As such, everything buyers and sellers negotiate pertaining to the good faith payment will need to be included in the purchase agreement. Anything left off the agreement means nothing, so do not simply “shake on it” or take anyone for their word.

Summary

What is earnest money, if not for a promise on behalf of buyers that they intend to see the purchase of a home through to the end? Of course, in its simplest form, earnest money is essentially a down payment that divulges a buyer’s intentions. However, at its pinnacle, an earnest money deposit is a contract between two parties that facilitates honest transactions. When terms are followed, earnest money can simultaneously help buyers in a competitive market and give sellers the peace of mind they need to accept an offer.

Source: Keeping Current Matters

A Smaller Home Could Be Your Best Option

Mon, 06 Mar 2023 15:55:12 GMT

Many people are reaching the point in their lives when they need to decide where they want to live when they retire. If you’re a homeowner approaching this stage, you have several options to explore. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors (NAR), says :

“As we see the transition of the large Baby Boomer generation age into retirement, it will be interesting to see if they move in with their Millennial and Gen Z children or if they stay put in their own homes.”

Lautz lists two options: move into a multigenerational home with loved ones, or stay in your current house. Multigenerational living is rising in popularity, but it isn’t an option for everyone. And staying put may fit fewer and fewer of your needs. There’s a third option though, and for some, it’s the best one: downsizing .

When you sell your house and purchase a smaller one, it’s known as downsizing. Sometimes smaller homes are more suited to your changing needs, and moving means you can also land in your ideal location.

In addition to the personal benefits, downsizing might be more cost effective, too. The New York Times (NYT) shares :

“Many downsizers expect to improve their retirement income stream if their new home costs less than what their old house sells for. Lower utility costs, insurance and property taxes — as well as investment returns on the proceeds — can also improve the bottom line.”

Being in a strong financial position is one of the most important parts of retirement, and downsizing can make a big difference.

A key part of why downsizing is still cost effective today, even when mortgage rates are higher than they were a year ago, is the record-high level of equity homeowners have. Leveraging your equity when you downsize can lower or maybe even eliminate the mortgage payment on your next home.

So, not only is the upkeep of a smaller home likely more affordable, but leveraging your home equity could make a big difference too. Your local real estate advisor is the best resource to help you understand how much equity you may have in your current home and what options it can provide for your next move.

Bottom Line

If you’re a homeowner getting ready for retirement, part of that transition likely includes deciding where you’ll live. Work with a trusted advisor to understand your options and explore your downsizing opportunities.

Source: Rocket Mortgage

Encroachment: Definition And What It Means In Real Estate

Mon, 27 Feb 2023 18:53:19 GMT

Many people don’t realize that coming up with a down payment and closing on your house is only the beginning of homeownership. Once you move in and begin making the property your own, many other challenges can arise.

For instance, many homeowners are surprised to find that relationships with neighbors can be a source of stress and frustration. And one of the biggest problem areas is often encroachment.

Encroachment means one of your neighbors seems to not notice – or not care – that their tree, garden or shed – to name a few examples – is encroaching on your land. If left unresolved, encroachment can lead to a host of issues, so it’s better to address it sooner rather than later.

What Is Encroachment By Definition?

Encroachment in real estate is defined as one property owner violating their neighbor’s rights by building or extending some feature and crossing onto their neighbor’s property lines.

Sometimes the encroachment is intentional. Structural encroachment, for instance, occurs when a neighbor deliberately builds property on land they don’t own. However, this isn’t often the case, especially when there’s some ambiguity about the exact location of the property lines.

While encroachment may seem harmless, it can lead to liability issues, damage to your property, and problems at the time of sale.

But how do you know if your neighbor is encroaching on your property? Here are some encroachment examples to watch out for:

Your neighbor builds a fence, and it extends onto your land
A structural addition to your neighbor’s home extends beyond the legal property boundaries
An overgrown garden or hedge crosses onto your land

Encroachment Real Estate Problems

When encroachment is only causing a minor issue, you might overlook it since it’s not having a major impact. But even if you aren’t facing encroachment issues in your day-to-day life, they can be problematic when you decide to sell your home.

Because encroachment can make it hard to establish property lines, it can create title concerns when you’re trying to sell your home. Many states require property surveys before you can sell your home, and any encroachment will be noted.

While the overgrown hedge or tree overhanging your yard may not bother you, it may bother the person who’s interested in buying your home. Along with complicating your ability to sell your home, encroachment could lower the amount you end up receiving once the home is sold.

What Are Encroachments Vs. Easements?

It’s easy to confuse a real estate encroachment with an easement. Both involve a homeowner making an extension onto their neighbor’s land, but an easement is agreed upon by both parties.

Easements often occur because your neighbor needs to access some part of your property for practical reasons. For instance, they may need to cross your backyard to get to a nearby beach, and you grant them permission to do so.

One of the problems with unaddressed encroachments is that they can become prescriptive easements. A prescriptive easement is created when the encroacher – perhaps a neighbor or trespasser – openly uses a portion of your property without your knowledge or consent, and it grants them a legal right to use your land if their encroachment is unreported over a period of time. The time frame and specific requirements to turn an encroachment into an easement depend on the laws in your state.

If an encroachment goes unaddressed for long enough, it can also create an unrecorded encumbrance on your land. This means that your neighbor now holds a right to some aspect of your property.

Options When Dealing With Property Encroachments

If you believe one of your neighbors is infringing on your land, it’s best to politely handle the situation before letting too much time pass. Most encroachments can be resolved amicably and in a way that’s satisfactory for both parties.

Below are three steps you can pursue when dealing with an encroachment issue.

Talk With Your Neighbor

It’s wise to start by talking with your neighbor and explaining your concerns. This is always ideal, especially if the encroachment is minor and can be easily addressed, like in the instance of an overhanging tree branch.

Try to go into the conversation with the assumption that the encroachment is unintentional. This approach will likely help you come across friendlier when confronting your neighbor.

Sell Your Land, Or An Easement On Your Land, To Your Neighbor

Another option for homeowners is to sell an easement, or the affected portion of the land, directly to their neighbor. This way, once the property clerk records the transaction, all uncertainty disappears and any future problems are averted.

Take Your Neighbor To Court

If the previous two options don’t work and your neighbor isn’t willing to resolve the issue, you can take them to court. This approach is always the least desirable path because it’s slow, expensive and may create lingering tension between you and your neighbor.

And unfortunately, taking your neighbor to court won’t necessarily resolve the issue in a favorable way since the court could determine that your neighbor’s trespass on your land is legitimate.

The court could decide that it constitutes a prescriptive easement, which then needs to be recorded. If the court rules that your neighbor is unlawfully trespassing on your land, the court will order your neighbor to remove the offending feature.

The Bottom Line: Encroachment Is A Problem To Be Resolved, Not Ignored

Nobody likes conflict with their neighbors, but it’s always a possibility. Intentional and unintentional encroachments happen, and it’s important to deal with the issue as soon as you notice it.

Avoiding the issue could cause the encroachment to turn into a prescriptive easement, and there’s not much you can do at that point.

Source: Rocket Mortgage

What Are Seller Concessions? Here’s Why They’re a ‘Win-Win for Both Sides’

Mon, 28 Nov 2022 18:10:05 GMT

In a real estate transaction, both the buyer and the seller are looking to maximize their bottom line. This means navigating the highs and lows of the real estate market and strategizing ways to improve the terms of the deal on the table.

One type of incentive that buyers—and sellers—can use is called seller concessions.

Seller concessions occur when a seller agrees to cover the cost of things the buyer usually pays for, such as closing costs , title searches, property appraisals, and other fees. Sellers can also offer to pay for repairs should the home inspection reveal that they’re necessary.

Seller concessions “all have the same goal: to sweeten the deal for a prospective buyer who is on the fence about committing to a purchase,” says Martin Orefice, CEO of Rent to Own Labs in Orlando, FL.

Read on for a primer on seller concessions, how they work, and how both buyers and sellers can use them to their advantage under current market conditions.

How do seller concessions work?

Seller concessions can be introduced at any point in the homebuying process.

“Seller concessions typically surface during negotiations, but they can also be advertised directly on the listing before the property even goes under contract,” says Doug Greene of Signature Properties Philly.

In many cases, seller concessions don’t even involve an actual exchange of money. Instead, the amount that the seller will contribute to closing costs or other transaction expenses will be adjusted before closing day.

“These seller concessions are usually submitted in writing either upfront in the purchase and sale agreement, or as a negotiated addendum to the real estate contract midtransaction, but prior to closing,” says Baron Christopher Hanson , principal of RedBaronUSA, based in South Carolina and South Florida.

Meghan Maloof Berdellans , a broker associate at Interealty Exchange in Miami, shares the following example:

“During the inspection period, if there are $10,000 worth of repairs needed from the inspection report, the buyer can request concessions for those repairs. Let’s say the seller agrees to $5,000 in concessions of that $10,000 needed in repairs. An addendum would then be executed saying, ‘Seller agrees to credit $5,000 at closing to buyer.’ Upon closing, the balance statement will reflect that credit of $5,000 to the buyer.”

How can buyers and sellers use concessions to their advantage?

High mortgage interest rates have deterred many would-be homebuyers, and it’s safe to say that we’re no longer in a firm seller’s market.

“In a real estate market like this one, buyers have a real advantage,” Orefice says. “Home prices are high even as the market slows down dramatically, meaning that buyers who show interest, but reluctance, can be in a great position to demand concessions from the seller.”

And while seller concessions do tend to benefit buyers financially, they’re a boon for sellers, too.

“Sellers can use concessions to convince buyers to go ahead with a deal despite a high-price, high-interest environment,” says Orefice.

Mason Whitehead , the branch manager for Churchill Mortgage in Dallas, says he’s seeing seller concessions come into play.

“Right now, for a seller to move the home faster, we’re seeing them and their agent offer concessions upfront,” Whitehead says. “We are also seeing sellers doing more repairs and fixing things that they would not have had to fix during the buying frenzy over the last two years.”

In the end, leveraging concessions gets everyone where they need to be.

“It’s a win-win for both sides,” says Lucas Machado , owner of House Heroes in Miami. “The buyer pays less than they would have otherwise, and the seller increases demand for their home and speeds up the sale process.”

Source: Realtor.com

What Kind of Flooring Increases Home Value?

Mon, 21 Nov 2022 16:05:57 GMT

Of all of the fundamental features that can affect the value and perception of a home, flooring is often the most overlooked. If you’re planning to sell your home and want to understand where to invest your time, energy, and money in remodeling projects that will increase value , you need to take a hard look at your flooring.

“Besides the basics like your roof and mechanical things, flooring is the next most important factor that influences how buyers feel about your home. It sets the tone and mood for the entire home,” explains Joseph Singsheim , a top real estate agent in Milwaukee, Wisconsin, who sells homes 43% quicker than the average agent in his area.

When it comes to flooring, there are lots of options to choose from, and lots of factors that may influence which type of flooring is best for your situation.

We researched the top flooring reports and spoke to expert real estate agents to create this guide to help you make the most informed decisions about flooring. Here’s exactly what to make of your home’s floors, and what flooring investments are worth the effort.

Which types of flooring do buyers look for?

It’s no surprise — hardwood flooring has long been the top choice for buyers and agents alike, and remains so in today’s market. According to a recent study conducted by the National Association of Realtors®, 90% of homeowners who upgrade to hardwood floors have a greater desire to be home and 77% have an increased sense of enjoyment when they are home.

Additionally, the same study showed that refinishing hardwood floors yielded 147% cost recovery, and installing new wood floors yielded 118% cost recovery in terms of the increased resale value as compared to the cost of the project.

Hardwoods are a solid flooring choice, with a few styles making it to the top of everyone’s list; but you can still make a great sale on your home even if it isn’t fully decked out in the materials of the moment.

There are other budget-friendly options that may provide a fantastic aesthetic and durable functionality. According to Singsheim, “There’s been quite a big change in the last few years. Twenty years ago carpet was in, and then the hardwoods started coming back. But now we’re trending toward the luxury vinyl tile and laminate type of flooring.”

Which type of flooring provides the best value to home sellers?

At the end of the day, you need to consider more than just which type of flooring buyers want most. If you’re prepping your home to sell for the highest value , you have to factor in your home’s current condition and the cost of various flooring options weighed against the potential increase in value for each option.

To help you make an informed decision, reference this table to consider the cost and potential return on investment (ROI) for each potential flooring option.

Which rooms matter most when it comes to flooring and home value?

Contrary to what all those home renovations on HGTV made you think, not every room needs to have the ideal flooring; there are definitely rooms where it matters more than others. Additionally, the ideal type of flooring may be different for each room.

The main areas of the home, such as the entryway, living areas, dining areas, and kitchen, are typically the first that buyers will see and will set the mood and tone for the rest of the home. Getting the flooring right in these areas is the first priority.

Ashlynn Petrocco , a top real estate agent in Dallas , Texas who’s sold homes in as few as seven days, explains that buyers want to see hard surfaces in the main areas of the home. “Wood flooring or even laminate,” she says, “and anything hard surface over carpet.”

While Singsheim agrees that hardwood or a similarly-looking luxury vinyl flooring option is best for the main areas, it can be tasteful to use a nice marble, stone, ceramic, or porcelain tile floor for the main entryway and/or mudroom. “Tile flooring, in general, has always been popular. These are great for landings inside doorways and can be used in tandem with other floorings when done well.”

As for the bedrooms (especially on the top floor), believe it or not, carpet is still a good choice . “A lot of people still use carpet on the second floor instead of the first,” explains Singsheim. “It can help reduce noise, especially when there are young children, it’s more comfortable in areas where you may be spending more time on the ground, and it keeps the floors warmer.”

So while hardwood may be more aesthetically pleasing, it’s okay to choose comfort in bedrooms.

Here are a few general tips when considering flooring for various rooms:

Hard surfaces are typically better than carpet (except for upstairs bedrooms).
Hardwood is a great choice, but luxury vinyl can look just as good at a lower price.
Keep your flooring consistent throughout the home as much as possible.
Tasteful variation is okay in a limited sense (such as a nice tile entryway or bathroom) but don’t let different types of flooring meet in high traffic areas.

How do you get your floors ready for the home sale?

Excessive wear and tear on the flooring will drive buyers away. So focusing on getting your flooring right before listing the house is an important step.

Singsheim cites the condition of the floor as one of the main reasons that buyers walk away from a sale. “It’s a big expense for a lot of people… It’s not like painting or other things that can be done after moving in. With flooring, you can’t move in until it’s done.”

Here’s how to get floors ready for an open house:

Evaluate the carpets with a critical eye

Carpets aren’t really en vogue today but whether or not the carpeting works in the home comes down to where it’s located. “If carpet is in the bedroom, and in good condition, then that’s OK. Buyers are OK with carpet when it’s clean” explains Petrocco.

When looking at carpets , think of how buyers would feel and try to see the floors with fresh eyes.

Ask yourself these questions to determine if your carpets are in good shape, and be honest.

Would you think the carpet was recently installed if this were the first time you saw it?
Would you walk barefoot through the house?
Would you let a baby play on the floor?
Does the 5-second rule apply if you drop your favorite snack on the floor?

If the answers to these questions leave you shaking your head, then it’s time for a replacement. Petrocco summarizes her rule on carpeting as follows, “If you’re going to keep the carpet, make sure it’s fresh.”

Repair hardwood floors

Proper hardwood floor maintenance may considerably increase a home’s value. But, completely redoing hardwood floors is an expensive undertaking if you don’t plan on staying in a home. Rather than making that kind of investment right away, work with a real estate agent to see what can be done to treat the floors first.

A combination of quick fixes and conditioning might be all it takes to get antique floors looking like they just came from the sawmill. “Depending on the condition,” Petrocco says, “Murphy’s Oil Soap or any other floor conditioning can go a long way, you’d be surprised.”

At a bare minimum, here are ways to bring hardwood floors up to code:

Make sure floors are even, not creaking, and individually damaged pieces are repaired or replaced. Here’s a quick video tutorial on repairing wood floors.
Clean and treat worn floors to give them a new sheen. Even a little bit of effort can go a long way in making old floors look brand new. Check out this tutorial with a video on how to get that done.

Consider flooring alternatives

Synthetic home applications are getting better all the time, and flooring is no exception.

According to a 2021 survey conducted by 50 Floor, laminate and vinyl flooring options were right behind hardwood flooring as the preferred option for redoing floors, capturing nearly one-third of respondents.

Floor Covering News, a national research-based publication, recently reported that resilient flooring (a blanket term used for most synthetic options) holds 22% of the total flooring market in volume and increased more than 185% since 2010 — meaning more people are choosing vinyl over wood or carpet every single year.

“Not only is luxury vinyl flooring cost-effective, but it comes in so many different and modern patterns that it can pretty much go with anything to get the feel of an updated home without a huge expense,” says Singsheim.

Faux-wood vinyl flooring is cost-effective, easy to install, offers a huge variety to choose from, and has even more perks besides. Not all vinyl is soft, and some offer extreme scratch-resistant and pet-proofing qualities that will go a long way with buyers.

Partner with a top agent who knows what buyers want in your market

Just like walls and surfaces, floors should be at their best during home showings . While hardwood floors are generally preferred, there are more synthetic options now than ever before to give your home a modern look without a huge expense.

Set aside time with an agent during initial meetings to determine what the floors in your home need. Whether it’s a quick clean or a full replacement, it’ll pay off when the buyers arrive.

Source: HomeLight

Open House Etiquette

Mon, 14 Nov 2022 16:13:16 GMT

Have you ever been out for a Sunday drive, saw an “open house” sign, and decided to pop in for a look, even though you weren’t planning to buy? If so, you aren’t alone. Open houses tend to attract not only potential buyers, but also curious neighbors, those seeking decorating ideas for their own homes, and area real estate agents.

An open house may seem antiquated in the age of virtual tours, but there’s still something about seeing a house in person. You can peek in the closets, get a feel for the neighborhood, and see if the back yard is actually as large as it looks online. By visiting open houses, you can get a feel for the market casually at your own pace, so it’s a great way for new home buyers to get a sense of what they like and don’t like before they reach out to a real estate agent . If you’re a seller, an open house is a great way to create a buzz. The more eyes on your home the better. You never know when a curious neighbor will decide your house would be perfect for them or someone they know.

Despite the benefits of open houses, they can be a little awkward. For buyers, you don’t quite know what you can and can’t do since it’s still someone else’s house. For sellers, it can be difficult having strangers walking through your house, peeking in your closets. Unless attending open houses is how you spend your weekends, you probably haven’t been to enough to know what’s expected and what might be frowned upon.

Open House Etiquette for Home Buyers

While there aren’t any rules for open houses, there are some generally accepted things you should and shouldn’t do. Here are some things home buyers should keep in mind:

Unless there’s a sign stating otherwise, you don’t have to knock. While it may feel wrong to walk into someone else’s house unannounced, you aren’t supposed to ring the doorbell or knock when going to an open house. Just walk right in. If you don’t see the listing agent right away, you can call out a greeting to get their attention.
It’s fine to examine house features, but not personal items. Yes, you can look inside the closets. After all, how else will you know if there’s enough space for your sneaker collection? Same goes for the pantry and garage. You want to make sure the spaces are adequate. However, don’t go through dresser drawers or look inside the refrigerator. Remember: people still live there, so try not to invade their privacy.
Leave food and drink behind. For a lot of people, coffee is essential, especially in the morning. But consider what could happen if someone bumps into you or you trip on the corner of a rug. You don’t want to be sopping up spilled coffee from someone else’s carpet or worse, off their white sofa. Many homeowners will provide finger foods and snacks for guests at the open house. It’s fine to take what’s offered but stay in the area where the food is provided while eating so you aren’t leaving a trail of crumbs through the house.
Try not to sit on the furniture. Maybe you’re tired after a long morning of open houses, or maybe your significant other is still wandering around and you just want a comfortable place to wait. While it’s tempting to flop down on the sofa, it might not be real! If the house is staged, there’s a good chance the furniture is made from cardboard. Staging furniture looks deceptively real, so if you must sit, test it out first and make sure it’s actually a sofa.
Don’t use the bathroom. When planning your day of open house visits, be sure to schedule in a stop at a café or other place where you can use the facilities. You don’t want to find yourself in a situation where you need to use the bathroom in someone’s house. If the house has been empty, the water might not even be turned on, and you don’t want to find yourself in that situation. Also, there are other people trying to look at the house, as well, including the bathroom. If you’re in there for any length of time, it could make everyone uncomfortable. If you absolutely must go, make sure you ask first (to avoid the whole “no water” situation).
Wait your turn. If other people are viewing a room, wait for them to leave before you enter. This allows everyone to see the space unimpeded.
Leave young kids at home. The house likely isn’t childproofed, which means furniture could tip over or breakables might be within reach of tiny hands. Young children are easily overwhelmed, especially when they’re in a strange place, which could lead to them acting out or running around. This could lead to an unpleasant situation for everyone, including you, so try to find a sitter. If you can’t, bring someone along to help you manage the kids.
Leave your dog at home, too. Unless it’s a service animal, leave your pet at home when touring open houses. Even though you might want to make sure your dog likes the back yard, an unfamiliar place where strangers are coming and going will likely stress your dog out and make other visitors uncomfortable. Besides, some people are allergic. If you must know if your dog likes the house , wait for a private viewing, get permission from the seller, and only do this with homes you’re seriously considering.
Be careful what you say. You don’t know who’s listening, so don’t be overly critical of the house as you tour, and don’t criticize the homeowner’s taste in décor or style. On the flip side, don’t gush about how much you adore the house and how it’s perfect for you. If you do, the seller could leverage that information to their advantage when you submit an offer. Stay neutral and save your comments for the ride home.

Open House Etiquette for Sellers

Clean, then clean a little more. This is your home’s time to shine, so make sure it sparkles. Remember: people will be looking in cabinets and closets, so make sure these spaces are cleaned and organized, as well.
Put away personal items. The more “you” that’s in the home, the less buyers will be able to imagine themselves living there. Put personal photos, pet supplies, and collections away. While you’re at it, hide your valuables or remove them from the house. There will be strangers in your home, and while they’ll likely be trustworthy, it isn’t worth the risk of having a valuable item turn up missing.
Leave the house. Let your real estate agent handle the showing of the house. You want buyers to imagine themselves living there, and they can’t do that with you there. Leave for the day and stay away until the open house is over.
Take your pets with you. Don’t leave your pets in the house. First, the door will be opened a lot and your pet could get out. Second, if you keep your pet secured in a room with the door closed, buyers won’t be able to view the room, which isn’t ideal. And third, having a bunch of strangers wandering through the home might be stressful for your pet, even if they’re crated. Take your pet with you when you leave or find a pet-sitter to watch them for the day.
Keep the driveway and street clear. Visitors will need a convenient place to park, so make sure the driveway and street in front of your house is clear of vehicles.
Invite the neighbors. Let everyone know you’ll be having an open house well in advance. This is helpful in a variety of ways. First, they’ll know to expect extra traffic and cars on that day so it won’t catch them unaware. They’ll be less likely to complain about people milling around the neighborhood. And if you make them aware of your open house, perhaps they won’t choose that day to cut down trees or host a garage sale. If they come to the open house, they can share their knowledge of the neighborhood with potential buyers and make them feel welcome.
View the open house as your grand reveal. Typically, the open house is held soon after you put your home on the market , so it’s like a debut. You can learn a lot from your open house. This valuable information can help you sell your home faster if you use it to your advantage. Consider setting out comment cards for guests to fill out before they leave. This will provide you with instant feedback about your home and what people are thinking so you can make any necessary changes or adjustments while it’s still early in the process.

Open houses are still a great tool for buyers, sellers, and agents. While they have the potential to be awkward, knowing what to expect and some basic etiquette will help make the event a success for everyone involved.

Source: Homes.com

Myrtle Beach ranks a top autumn vacation destination in the US, popular trip planner says

Mon, 07 Nov 2022 18:13:05 GMT

The crowds of tourists won’t be disappearing from Myrtle Beach’s shores after Labor Day, TripAdvisor says. The region is among the top 10 most popular U.S. travel destinations for the fall.

The news about Myrtle Beach’s fall popularity isn’t, well, the most shocking, as the Grand Strand was also one of TripAdvisor’s most popular fall destinations last year, too.

Businesses, government officials and the Myrtle Beach Area Chamber of Commerce have worked for years to make the region into more of a year-around destination. Doing so creates more stable employment and reduces workplace shocks by balancing out the usual flood of visitors that appear in March for spring break and abruptly disappear the week after Labor Day.

Myrtle Beach has also benefited from a lack of any major hurricanes since 2019. The most recent hurricane to reach the Grand Strand was Isaias in 2020, and it was a a Category 1 that caused minimal damage during a period of time when there were fewer travelers than usual anyway as the result of the coronavirus pandemic.

The data about Myrtle Beach’s popularity comes from TripAdvisor’s Fall Travel Index, which revealed that six out of 10 Americans still plan to travel this fall despite high inflation and gas prices.

“Because of the pent-up demand for vacation stemming from several years of pandemic restrictions keeping travelers close to home, Americans are cutting back elsewhere to ensure they can still budget a getaway,” TripAdvisor said in a press release this week. “Half of Americans (50%) said that they plan to travel more this fall than they did during the same period last year and two thirds (66%) plan to spend more.”

Travelers plan to save money on their trips by going on shorter vacations and staying closer to home, TripAdvisor said.

Here is the full list of popular fall destinations. Any city with an asterisk was also a top destination for fall last year, according to TripAdvisor.

Las V egas, Nevada
New York, New York
Orlando, Florida
Honolulu, Hawaii
Lahaina, Hawaii
Key West, Florida
Nashville, Tennessee
Myrtle Beach, South Carolina
New Orleans, Louisiana
Miami Beach, Florida

Source: The Sun News

Tips for Moving with Kids

Mon, 31 Oct 2022 17:23:24 GMT

You find the perfect house, but it’s in a community with an HOA. What does that mean, exactly, and how much will it cost?

When searching for a home, knowing everything you can about the home and the neighborhood you may move into is important. One thing that home buyers should look for is whether or not they would like to live in a neighborhood or community with an HOA. HOA stands for Homeowner’s Association, and many homes are located within HOAs due to their rise in popularity in recent years.

Common Questions About HOAs

What is an HOA?

HOAs are a group of Homeowners in the area that are typically elected or volunteered. Then they form a board of directors that govern common interests in their community or neighborhood. Homeowners in areas with HOAs typically have to pay fees to cover the use and maintenance of amenities in the area. For example, if you owned a home with an HOA in a community or neighborhood with a pool and park, you would be paying the fee for the maintenance of that pool and park. The board of directors for the HOA will not receive any of the money from the monthly fees; they are unpaid. Instead, the fees go to the maintenance, and the HOA makes decisions on the maintenance that needs to be done and who should do it.

How much do HOAs cost?

HOAs usually charge a fee monthly. How much this fee is will depend on where you live. Therefore, the cost of every HOA fee varies drastically. But if you want to live in a neighborhood with an HOA, expect the fees to typically cost you hundreds of dollars a year.

What do HOA fees cover?

HOA fees typically cover:

Maintenance of Pool
Maintenance of Parks
Trash Removal
Landscaping of Community Areas
Pest Control of Community Areas

What are the typical responsibilities of an HOA?

The responsibilities of the HOA include the maintenance of the neighborhood along with making any rules that serve common interests. For rules, the board of directors would be responsible for setting these rules as well as listening to complaints from the community and handling them. Plus, if a community member broke a rule, they would be in charge of notifying them and/or issuing them a fine. Along with maintenance and rules, HOA board members are also in charge of holding meetings to address issues and concerns with everyone in the neighborhood. These meetings would be open to the community who pays fees, so anyone should be able to voice any concerns they have. And if you don’t like the board of directors for the HOA in your area, it’s important to note that you can always volunteer to join or be elected to the board.

What are some pros and cons of having an HOA?

No matter what choice you make in life, there are always some pros and cons. It’s up to you to determine whether the pros outweigh the cons of living in a community or neighborhood with an HOA. The pros of the HOA are that the amenities in your area, such as the pool or the park, will be maintained and taken care of. A con of an HOA could be the excessive number of rules those amenities may have because of the HOA.

Something that could be a pro or a con of having an HOA is the monthly fee you have to pay. The HOA fee could be a pro because of everything it covers, but it could be a con if it costs too much or the HOA does not keep up with maintenance or residents of that area like they are supposed to. One final con is that the HOA may issue too many fines, such as you not maintaining your lawn or having a clothesline, or even having too many pieces of outdoor furniture. If your HOA is like this, you may not enjoy living in your home. That’s why it’s important to talk to your neighbors about the HOA before buying the home.

Whether you’re buying a house for the first time or the third time, it’s essential to know whether or not your home is in an HOA to ensure you and your family are getting the perfect experience inside and outside your home.

Source: Homes.com

The Emotional and Non-financial Benefits of Homeownership

Mon, 17 Oct 2022 17:23:08 GMT

With higher mortgage rates , you might be wondering if now’s the best time to buy a home. While the financial aspects are important to consider, there are also powerful non-financial reasons it may make sense to make a move. Here are just a few of the benefits that come with homeownership.

Homeowners Can Make Their Home Truly Their Own

Owning your home gives you a significant sense of accomplishment because it’s a space you can customize to your heart’s desire. That can bring you added happiness.

In fact, a report from the National Association of Realtors (NAR) shows making updates or remodeling your home can help you feel more at ease and comfortable in your living space. NAR measures this with a Joy Score that indicates how much happiness specific home upgrades bring. According to NAR:

“There were numerous interior projects that received a perfect Joy Score of 10: paint entire interior of home, paint one room of home, add a new home office, hardwood flooring refinish, new wood flooring, closet renovation, insulation upgrade, and attic conversion to living area.”

And as a homeowner, unless there are specific homeowner’s association requirements, you typically won’t have to worry about the changes you can and can’t make.

If you rent , you may not have the same freedom. And if you do make changes as a renter, there’s a good chance you’ll need to revert them back at the end of your lease based on your rental agreement. That can add additional costs when you move out.

The Responsibilities of Homeownership Give You a Greater Sense of Achievement

There’s no denying taking care of your home is a large responsibility, but it’s one you’ll take pride in as a homeowner. Freddie Mac explains :

“As the homeowner, you have the freedom to adopt a pet, paint the walls any color you choose, renovate your kitchen, and more. . . . Of course, along with the freedoms of homeownership come responsibilities, such as making your monthly mortgage payments on time and maintaining your home. But as the property owner, you’ll be caring for your own investment.”

You’re not taking care of a living space that belongs to someone else. The space is yours. As an added benefit, you may get a return on investment for any upgrades or repairs you make.

Homeownership Can Lead to Greater Community Engagement

That sense of ownership and your feelings of responsibility can even extend beyond the walls of your home. Your home also gives you a stake in your community. Because the average homeowner stays in their home for longer than just a few years, that can lead to having a stronger connection to your local area. NAR notes how that can benefit you:

“Living in one place for a longer amount of time creates an obvious sense of community pride, which may lead to more investment in said community.”

If you’re looking to put down roots, homeownership can help fuel a sense of connection to the area and those around you.

Bottom Line

If you’re planning to buy a home this year, there are incredible benefits waiting for you at the end of your journey , including the ability to customize your home, the sense of achievement homeownership brings, and a greater connection to your community. Connect with a local real estate professional to discuss everything homeownership has to offer.

Source: Keeping Current Matters

What Is an HOA, or Homeowners Association?

Mon, 27 Jun 2022 14:56:28 GMT

You find the perfect house, but it’s in a community with an HOA. What does that mean, exactly, and how much will it cost?

Common Questions About HOAs

What is an HOA?

How much do HOAs cost?

What do HOA fees cover?

HOA fees typically cover:

Maintenance of Pool
Maintenance of Parks
Trash Removal
Landscaping of Community Areas
Pest Control of Community Areas

What are the typical responsibilities of an HOA?

What are some pros and cons of having an HOA?

Source: Homes.com

How to Clean a Concrete Patio to Remove Tough Stains

Mon, 20 Jun 2022 19:47:09 GMT

Concrete patios are durable, inexpensive, and low-maintenance. However, dirt, debris, and food can blemish these tough surfaces over time. Here’s how to clean a cement patio and remove unsightly stains.

There are many elements that can stain your patio. Regular foot traffic can track dirt, grime, and grease over outdoor cement flooring. Plus, concrete patios are exposed to harsh weather and lots of use during warmer months. This can leave your walkway, cement deck, concrete pavers, and other patio features looking less than ideal. Regular cleaning and maintenance , however, can restore your cement patio and ensure it looks beautiful for years to come.

Whether you are spring cleaning or removing stuck-on stains, here's how to clean a concrete or cement patio easily—with or without a pressure washer.

How to Clean a Concrete Patio

What You'll Need

Broom or leaf blower
Sponge or mop
Tarp
Scrub brush
Garden hose
Spray bottle or bucket
Cleaning solution (see below for options)
Protective gear, including rubber gloves, safety goggles, and respirator (as needed based on cleaning method)

Step 1: Remove Loose Dirt and Debris

Remove any furniture, grills, or planters from the patio so that the entire surface is visible. Sweep away loose dirt, debris, or leaves. Cover any nearby plants or landscaping with a tarp for protection.

Step 2: Treat Patio Stains

Water stains, mold, and mildew: Use a garden hose or pressure washer to remove water stains or mildew. If this doesn't do the trick, mix a solution of 3/4 cup bleach and 1 gallon water . Wearing protective gear, including rubber gloves, scrub the area with a brush. Rinse thoroughly with clean water. Ensure the patio is fully dry before putting decorative items or furniture back in place.

Grease and oil stains: Sprinkle sawdust, cornstarch, or baking soda on the stain to absorb any spills. You can also mix baking soda with a bit of water to create a cleaning paste. Scrub it gently into the stain and let it sit for 30-60 minutes. Then wash away the solution or sweep away any remaining powder.

Remember: Concrete is porous. If the oil stain is old, it might have penetrated the surface. Try using a degreaser to remove old grease stains from a concrete patio, following the manufacturer's instructions.

Rust stains: White vinegar is a practical, eco-friendly way to remove rust stains from cement patios. Spray it directly onto the stain and let it to sit for less than an hour to penetrate deep stains. Scrub with a stiff-bristle brush. If the concrete was made to look like stone or designed with a grain, try to brush in line with the original surface to avoid any unsightly scratches. Rinse with water and let it dry. If the stain doesn't improve, repeat the process, or try a concrete rust remover.

Step 3: Clean Patio Floors

Dish soap and water: Dish soap is a degreaser, and it works well to clean oily and grimy concrete. Create a cleaning solution of warm water and few drops of dish soap and apply it to the surface. Let it sit for a while, then mop the patio and rinse it with fresh water. Repeat the process as many times as needed.

Vinegar or baking soda: These natural cleaners work well to clean cement patios with stubborn charcoal or rust spots. Mix equal parts vinegar and water, scrub the patio with the mixture, then give it a good rinse. If stains don't dissolve, try undiluted vinegar. Do not use vinegar and baking soda mixture in a power washer. And be sure to protect your hands, eyes, and nose to minimize any irritation.

Oxygen bleach: Wear rubber gloves. Use a cup to sprinkle the solution over the entire patio. Scrub it using a push broom or soft-bristle mop. Let it sit for about 10 minutes, then rinse it off thoroughly with fresh water from the hose. Never mix bleach with other cleaning agents.

Concrete cleaner or degreaser: These are typically made from concentrated alkaline soap to loosen oil. Although they can be effective for porous concrete, they might not work well on old stains.

Pressure washer: Pressure washers can effectively clean concrete patios and are widely available to rent or purchase . If you are unsure which pressure setting is best, test the power washer on a small area first to see the effects. If you choose to use a power washer , opt for a store-bought solution.

Muriatic acid: This substance is commonly used on driveways or garage floors where oil leaks from a car have stained the concrete. When used carefully, muriatic acid can remove mineral, oil, paint, and rust stains, while also brightening concrete. Be cautious as this acid is dangerous and can kill plants and grass. Use protective gear, including a respirator, to protect against dangerous contact and fumes. Follow the manufacturer's instructions for best practices.

Prevent Patio Stains in the First Place

A concrete sealer is the best option to avoid stains on a cement patio. If you're up for the challenge, apply them yourself using a paint sprayer or roller. Otherwise, call a professional.

Clean outdoor concrete floors annually. This is also a great time to inspect the deck for damage and make any necessary repairs before beginning the cleaning process.

If you're not sure what to use to clean your concrete patio, test a shaded or inconspicuous area to make sure that a cleaning solution won't discolor the patio or etch the concrete. Once you've perfected the method, use protective gear, and take all necessary precautions to finish cleaning the entire patio.

Source: BHG

Home Renovations That Don’t Add Value (and What to Do Instead)

Mon, 06 Jun 2022 17:21:03 GMT

If you have been thinking about selling your home, you may be wondering which home improvements you should tackle to increase your home’s value before it goes on the market. While there are many home renovations that can add appeal to your home, it’s important to know which projects will increase your property value and which will not.

From upgrading your bathroom to replacing your roof, this article will help you determine which home improvement projects are worth your investment. Whether you are preparing to sell your home in Portland, OR or Toronto, ON , here are 10 home renovations that don’t add value and what you should do instead.

1) A bedroom to closet renovation

The number of bedrooms your home has is one of the main factors that determines your home’s value. It’s better to have a bedroom with a smaller closet than to create a large walk-in closet and lose a neighboring bedroom in the process.

Instead: Find storage solutions for small closets

You can increase the functionality of a closet without increasing the square footage. Try installing closet organizers or creating storage solutions like built-ins to make small closets more practical.

2) High-end fixtures

Although they may upgrade the look of a home, replacing your current fixtures with expensive, high-end alternatives is a home improvement that doesn’t add value. Installing custom faucets, ceiling fans, or lighting fixtures may sound like an easy way to elevate a room in your home, but these improvements won’t increase your home’s value enough to cover the cost it takes to purchase and install them. Plus, potential buyers won’t pay more for a home just for high-end fixtures.

Instead: Install fixtures that are affordable and high quality

If you want to upgrade the fixtures in your home, consider products that are durable, high quality, and budget-friendly. This is one of the home improvements that add value by giving your home the facelift you are looking for, without losing money along the way.

3) A sunroom addition

Sunrooms are tricky because some homebuyers love them while others find them unnecessary. Starting home renovations as large as enclosing your patio or deck to create a sunroom can be expensive, and is not usually included in a home’s total square footage . Since a sunroom will likely not be included in the final calculation, there’s no guarantee that adding a sunroom to your home will increase its value.

Instead: Spruce up your deck or patio by repainting and adding greenery

Make the most out of your patio or deck by transforming it into a great bonus area for entertaining guests. You can turn your deck into an outdoor oasis or give your porch an upgrade by re-staining it or giving it a fresh coat of paint. You can also add plants and outdoor furniture to make your outdoor space feel like an inviting oasis.

4) Bold paint colors

If your walls need repainting, it may be tempting to start home renovations by creating a statement wall by painting geometric patterns or using bold colors to make your home stand out. Unfortunately, not everyone has the same taste, and some homebuyers may see it as a wall they will have to repaint if they decide to purchase the house. Many homeowners are looking for move-in-ready homes, and having to repaint a wall may turn them away.

Instead: Repaint walls if needed and stick to neutrals

Repaint walls using neutral colors that can match any color palette. This is one of the best home improvements that add value to your home and it is easy to accomplish. Repainting walls in neutral colors creates a blank slate for homebuyers and it can make your home look modern and move-in ready.

5) Standing showers

If you’re looking to start a home renovation that will modernize the bathrooms in your home, the first thought that might cross your mind is to upgrade your shower tubs to standing showers. While this does provide a sleek look, it’s another example of home improvements that do not add value.

Instead: Upgrade to some standing showers, but keep at least 1 bathtub

When executing home renovations to your home with the hopes of increasing your home’s value, it is important to keep options open. Some buyers may like soaking in the tub or have small children and need to have a bathtub in their home. To keep your home practical, be sure to leave at least one bathtub in the home to appeal to every type of buyer.

6) Trendy designs

Many homes are incorporating bold wallpaper, intricate tile, or mid-century furniture, and you may be tempted to add these trendy features to your home to appeal to potential buyers. As with any other trend, they tend to go out of style fast. If your home stays on the market long enough for the trend to go out of style, these features might make your home look outdated.

Instead: Stick to timeless and neutral features

Interior design trends are always changing, but there are a few staples that will never go out of style. Choosing neutral paint colors, installing solid color tile, and choosing simple decor will make your house look great to any potential buyer – no matter their style.

7) Specialized high-end kitchen appliances

Costly home renovations like replacing outdated appliances with state-of-the-art appliances may make your kitchen look great, but you’ll likely not get a good return on investment on this project. Some potential buyers may appreciate the appliances, but it probably won’t increase the home resale value by much.

Instead: Upgrade your kitchen by repainting cabinets, or installing budget-friendly fixtures

To give your kitchen a facelift, consider repainting your cabinets , upgrading light fixtures, or swapping out the main kitchen faucet. These simple changes are home improvements that add value to your home while being budget-friendly and will make your kitchen look much more appealing to potential buyers.

8) A new front door

There are many other ways to make a great first impression with your entryway besides replacing your front door. Front doors can be costly, do not increase home resale value, and may not improve the overall quality of your entryway in the way you envisioned.

Instead: Repaint the door and add plants to the porch

To make your entryway more appealing , try adding colorful plants and laying out an inviting welcome mat. If your front door needs some TLC, save money by painting it. These changes will greatly improve your curb appeal without spending a fortune.

9) Wall to wall carpeting

If your home has carpets that need replacing, it may not be the best option to replace the area with new carpet. Many homeowners are looking for homes with hardwood floors, and you don’t want to spend money installing brand new carpet just to hear potential buyers say they would prefer a home with hardwood throughout.

Instead: Consider installing hardwood or neutral carpets

Homes with mostly hardwood floors often appraise for higher than homes that have equal parts hardwood and carpeted flooring. Consider installing hardwood or a hardwood alternative, like tile, to areas that need new flooring. If you choose to stick with carpeting, install carpets that are neutral and budget-friendly.

10) A new roof or HVAC system

Large home features like your HVAC system and roof should only be replaced when there’s a problem that needs to be addressed. Home improvement projects like these are costly and time-consuming. If they’re not damaged or broken, there’s no need to replace your roof or HVAC system to the newest, most efficient version.

Instead: Replace large features because it is necessary, not because you are expecting a high return on your investment

If there is something wrong with your HVAC system or roof, it will need to be fixed before selling your home. However, you should not upgrade these features only to give your home a higher home resale value.

Bonus: Does a pool add value to your home?

This question is a difficult question to answer because there are many factors to consider. The simple answer is, it depends on your location and what the buyer is looking for. A home with a pool in warmer climates like Arizona and Florida will likely increase in value since it can be enjoyed year-round. Meanwhile, a home located in Indiana or Minnesota will likely not see this same increase in value because some homebuyers may see this as an unnecessary part of the home that can only be used a few months out of the year. However, this may be changing.

Pro tip : “Covid-19 has changed the appeal for pools even in typically colder climates. Because so many people are staying home, more in-ground pools have become a higher priority even if there’s only one season to use it. Long waitlists and installation prices that have tripled are becoming the new norm. Short-term vacation rentals are becoming more and more popular as well. Having a private pool will greatly increase the amount of rent that can be obtained. The question is how long will this added demand last – or is it here to stay?” – Eric Strung from Direct Property Buyer

Another factor to consider is that many people find a pool a liability rather than a perk. Families with small children or pets can see the pool as a hazard while others may not want to spend the time and money it takes to maintain a pool. Building a pool can be time-consuming and expensive; since there is no guarantee that a pool will add value to your home there is no way of knowing if you will be able to get your money back from this project. If you are renovating your home to put it on the market, it is probably best to try other home renovations that are more likely to increase your home’s value.

Source: Redfin

Consider These 10 Pet-Safe Houseplants

Mon, 30 May 2022 17:31:02 GMT

Help keep cats and dogs healthy with the right selection of indoor plants

When preparing to adopt our kitty, I learned from the folks at the rescue organization that a few of our houseplants were toxic to cats and dogs — and since this particular furry friend enjoys chomping on plants, it was vital we remove these from our home beforehand. (And even though some pets pay no attention to plants, it’s always better to be on the safe side.) But many of the most popular design-friendly houseplants, including split-leaf philodendron and fiddle-leaf fig, are toxic to cats and dogs. So what’s a design-loving pet owner to do? Live without houseplants? No way. We’ve found 10 cool houseplant options that are all nontoxic to cats and dogs.

1. Tillandsia

Air plants are tailor-made for modern spaces, and they need very little care. Because these petite plants don’t require soil, you can place them just about anywhere — on a piece of driftwood, in a seashell, in a hanging glass vessel. However, their small size can prove problematic if you have a nibbling pet: A lot of damage can be done to the plant in a short amount of time, so watch your pet and be prepared to move the plant out of reach if this becomes an issue.

7. Ponytail Palm

This wacky plant looks like something out of a Dr. Seuss book. Ponytail palms are well suited to modern interiors — starting with a smaller plant is easier on the budget, and you can always transplant it into a larger pot as it grows. A full-size specimen makes a dramatic statement, as seen here.

9. Orchid

With their elegant, long-lasting blooms, it’s no wonder that orchids are a decorator favorite. Thankfully, according to the ASPCA, phalaenopsis and dendrobium orchids (two of the most popular varieties) are nontoxic to cats and dogs. Plant a single orchid or group several in one large vessel for more drama.

Source: Houzz

Your Home Maintenance Checklist for Summer

Mon, 23 May 2022 15:47:13 GMT

Get your home in shape with these indoor and outdoor projects to do in an hour, over a weekend or longer-term

With the days getting longer, now is a good time to get going on some larger home projects both indoors and out. Hotter weather is also your cue to tune up those irrigation systems, boost shade and (finally) clean out the garage. Check these to-dos off your list to get your home and garden in top shape for summer and keep it that way all season long.

Tasks to Check Off Your List in an Hour or Less

Keep mosquitoes at bay. Mosquitoes need stagnant water to breed — but it’s not just ponds and puddles that cause problems. As Jody Gangloff-Kaufmann, entomologist at the New York State Integrated Pest Management Program at Cornell University, reported to Houzz, even something as small as a soda cap filled with water can become a breeding ground for mosquitoes. To stay ahead of the problem, walk around your property twice a week and dump out any water that has collected, including bird baths (feel free to refill with fresh water), flower pots and saucers, children’s toys, tarps, patio furniture and anywhere else water collects.

Inspect kitchen and bath fixtures. Keeping an eye on sinks and tile surrounds can help prevent costly water damage and repairs down the road. Make note of areas in need of new grout or caulk, as well as any slow leaks to repair. While you’re at it, freshen the kitchen drain by grinding a few ice cubes along with a few tablespoons of salt in the garbage disposal.

Check safety devices. Smoke alarms and carbon monoxide detectors should be tested at least once a month and replaced every 10 years, according to the U.S. Fire Administration. Test smoke detectors and carbon monoxide detectors by pressing the test button; replace batteries as needed. Also, take a moment to check the expiration date on any fire extinguishers in the house and replace them if needed.

Tackle These To-Dos Over a Weekend

Launder soft furnishings. Keep your textiles looking fresh by laundering slipcovers, shower curtains, cushion covers and curtains, or sending them out for dry cleaning if they’re not machine washable. Keep upholstery and Roman blinds looking their best by vacuuming them regularly using your vacuum’s upholstery attachment. Have large area rugs and carpets professionally cleaned, or rent a carpet cleaner and do it yourself.

Prep your porch. Summer is prime time for hanging out on the porch with icy cold drinks and watching the world go by. Get your porch ready by cleaning the floor, exterior windows, windowsills and front door. Use a long-handled duster to wipe cobwebs from the ceiling, light fixtures and high corners. Lay down a fresh doormat, and plant a pot of flowers. If you have porch furniture, clean it off and wash the cushions.

Keep landscape fire-safe. If you live in an area with dry summers (such as California), doing what you can to keep dry brush away from your home is an essential fire-prevention measure. Remove weeds, fallen leaves, needles and other items (like stacks of firewood) that could become fuel in a fire from the area immediately surrounding your home. All such material should be cleared from within 30 feet of your home to create defensible space, according to the California Department of Forestry and Fire Protection.

Deep-clean your grill. Grilling season has arrived! Make sure your grill is ready to hold up to plenty of backyard barbecues by giving it a deep cleaning — a clean grill works more efficiently and prevents flare-ups. If you have a gas grill, be sure to check the fuel line for cracks and clean out any clogged burner holes. Clean the grates and interior with a grill brush and wash the exterior with warm, soapy water.

Tune up your lawn mower and garden tools. Sharp tools are safer and do a better job. Take your lawn mower and clippers in for a sharpening and tuneup so they’re ready to work hard. Keep garden tools in good shape throughout the season by wiping them off with a damp cloth after use, drying them well and coating them lightly with a few drops of a multipurpose oil.

Test irrigation systems. A sprinkler or irrigation hose that has a blockage or leak can quickly cause major problems for your lawn and garden. Test your sprinklers and irrigation system at the beginning of the season, and again before leaving on any trips. Tired of trying to keep the lawn green all summer? Planting a low-maintenance lawn alternative can be a smart move, especially in regions with dry summers like California.

Maintenance and Extras to Budget for This Season

Add shade to outdoor spaces. Having enough shade in the backyard can make the difference between an appealing outdoor space and one you avoid when the sun is high. Add freestanding umbrellas for portable shade around outdoor seating and dining areas, or install a shade sail (as shown here) for a more permanent shady spot.

Upgrade pool safety measures. If you have a pool or hot tub in your backyard, the best way to prevent accidents is to implement as many layers of safety as possible, including adult supervision, CPR training, safety barriers and door and pool alarms. Make sure to keep your pool and hot tub clean and in good working order with regular inspections, and if you’re looking to add another layer of safety, consider adding a self-closing, self-latching gate at least 4 feet high, to prevent children from jumping or falling in, and place a safety cover on your pool when not in use. The American Red Cross also recommends installing a pool alarm that will go off when anyone enters the pool.

Schedule big home projects. Whether you’re dreaming of a landscape makeover or need to replace a deck, don’t delay booking the right pro for the job. Their schedules tend to fill up quickly in the summer — plus, the sooner the work is done, the longer you will have to enjoy it.

Source: Houzz

Three Tips for First-Time Homebuyers

Mon, 16 May 2022 16:07:31 GMT

Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you’re looking to purchase your first home, you may be wondering what’s happening in the housing market today, how much you need to save , and where to start .

Here are three things that can help give you the information you need to confidently pursue your dream of homeownership .

1. Consider All Options When the Number of Homes for Sale Is Low

Today, there are far more buyers in the market than there are homes available for sale. When that happens, it’s a good idea to do what you can to increase your pool of options. That could mean expanding your search to include additional housing types. For first-time buyers, considering condominiums (condos) and townhomes can be an excellent way to increase your choices. According to Bankrate :

“Townhomes often cost less than single-family homes of a similar size in the same location.”

In another article, Bankrate also says :

“Buying a condo can be a great way to dive into homeownership without worrying about the upkeep that comes with single-family homes and townhouses.”

Condos and townhomes are both great entryways into homeownership. When you buy either one, you can start building equity which increases your net worth and can fuel a future move.

2. Know Your Down Payment Could Be More Within Reach Than You Think

Saving for a down payment can feel like one of the biggest obstacles for homebuyers, but that doesn’t have to be the case. As the National Association of Realtors (NAR) says :

“One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.”

Data from NAR shows the median down payment hasn’t been over 20% since 2005. The graph below breaks down the median down payment by age group for recent homebuyers according to the 2022 Home Buyers and Sellers Generational Trends Report from NAR (see graph below) :

Based on the data above, the median down payment for all homebuyers is only 13%. That’s well below the common misconception of 20%, and it’s even lower for younger buyers. This could mean you may not need to save as much for a down payment as you initially thought.

There are also down payment assistance programs available for many buyers. Not to mention, some loan options require as little as 3.5% (or even 0% ) down for buyers who qualify. While there are advantages to putting 20% down , especially in today’s competitive market, know that you have options. To get more information on how much you may need to save and the help that’s available, talk with a professional.

3. Work with a Trusted Real Estate Advisor Throughout the Process

Finally, no matter where you’re at in your homeownership journey, the best way to make sure you’re set up for success is to work with a real estate professional.

If you’re just starting out, they can help you with the initial steps, like educating you on the process and connecting you with a trusted lender to get pre-approved . Once you’re ready to begin your search, a real estate professional can help you understand your local market and search for available homes. And when it’s time to make an offer , they’ll be an expert advisor and negotiator to help your offer stand out above the rest.

Bottom Line

Knowledge is key to succeeding on your homebuying journey. Knowing market trends, what you need for a down payment, and what options you have as a buyer today can give you the confidence you need to buy a home. Connect with a local real estate professional so you have an expert on your side who can help you navigate the homebuying process.

Source: RedFin

Planning to Sell Your Home? Here’s How to Protect and Increase Home Value on a Budget

Tue, 10 May 2022 14:01:24 GMT

1) Declutter to increase home value

It happens to all of us – the storage closet that was once empty, is now overflowing; and belongings that should be stored away have found new homes elsewhere. If this sounds familiar, now is a great time to begin eliminating things you no longer need.

Decluttering is one of the most inexpensive ways to increase home value. Pay particular attention to your kitchen and bathrooms, as well as your living room, as these are most often a home’s best selling points. Tackle this project room-by-room, and don’t move on until the room is finished so you can avoid creating an endless pile of stuff. You can begin by categorizing your items using three different piles. One for belongings you’d like to keep, one for “maybe’s,” and one for donation items. In a few days, come back to the “maybe” pile and make the final cuts.

Follow these tips as you begin decluttering:

Prioritize organizing your bathroom. Start with your countertops and work your way to your linen closet and medicine cabinets. Try to remove personal items like your toothbrush, hairbrush, and mouthwash so buyers can imagine their own space.
Tidy up your home office. be sure to file away or shred old papers, clear off your desk, and hide any unsightly cords using zip ties or cords.
Throw out any expired items throughout your home. This includes items in the kitchen, pantry, bathroom, and medicine cabinet.
Sort through your closet and remove extra hangers, and donate or toss out clothes or shoes you no longer need. This will help your closet space appear more spacious and organized.
Remember, your entryway sets the first impression. Be sure to declutter it of personal items and create an entrance that draws buyers in.
Clear your kitchen countertops. Avoid using this space for random objects, and try to hide all countertop appliances, such as your blender, toaster, and crockpot.
Depersonalize your home. Remove items that are too personal, like family photos. It will help if potential buyers imagine themselves in the space.
Try to remove visual clutter from hallways, such as hooks, artwork, and photographs. Cramped hallways can be a deal breaker.
Pare down throw pillows, blankets, and decor in the living room to make the space feel larger.
Organize bookshelves and display cabinets. Strip the layer of dust, remove trinkets, personal items, storage bins, and arrange and style books.
Don’t forget to clear out your refrigerator, freezer, and under the sinks. Potential buyers will surely be curious about storage space.
Be sure to stash away any children’s toys and pet toys. While your home is on the market, try to limit the number of toys available to play with.
Create a laundry space where potential buyers will be able to imagine themselves almost enjoying the chore. Be sure to clear countertops and organize your cleaning products.

Decluttering can be a huge task for just one person to complete. Working with a professional organizer may be the best choice, and can even increase a home’s asking price by up to 5% .

2) Deep clean your home

After you’ve decluttered, the next step is to deep clean your home. That means it’s time to wipe and dust every surface, mop, and vacuum carpets and floors. Dig deep into the kitchen, make your bathroom shine, and tidy up your living room. Odor can also make a lasting impression, especially a bad-smelling one. Pets, kids, food, and other conditions can make your home smell and discourage potential homebuyers.

Keeping your house clean can be a time-consuming task, and let’s face it – sometimes it’s hard to find the time to clean your home from top to bottom. Consider hiring a professional cleaning service ; they’re less likely to overlook something that may not be on your cleaning checklist. They’ll also be able to reach every nook and cranny of your home to leave it shining so you can increase home value, sell your house quickly, and for more money. In fact, according to a 2019 survey by HomeLight , deep cleaning can add as much as $4,000 to your home’s resale value.

3) Paint your home, inside and out

When selling your home, it’s important for potential homebuyers to picture themselves living there. Dull, dingy, chipped, or low-quality paint may discourage buyers and hurt your property value. Avoid busy and bright colors as these shades tend to turn attention away from the home itself. Painting the interior of your home in a neutral color requires a relatively small investment for what you’ll get in return, which is usually increased home value, more interested homebuyers, and hopefully more competing offers.

Painting the exterior of your home may cost a bit more, but the increase in curb appeal could sell your home faster. Does it need it? Take a walk outside and look around. Do you see any cracks or peeling? Has the color faded? If the answer is yes, the time to repaint is now.

Consider hiring a professional painting company so they can eliminate the risk of using the wrong brush, buying low-quality paint, or using too much or too little.

4) Replace the garage door

Your garage door has likely experienced a lot of wear and tear over the years. How did it sound the last time you opened and closed it? You may have forgotten about dents from bike wrecks or flying balls after a while, but buyer’s will definitely notice. Check the sweep, too. If blowing rains come under the door, chances are critters do too and the sweep needs replacing. For less than $5,000, on average, you can increase home value and reap an ROI of almost 94 percent when you replace it .

5) Add manufactured stone veneer

To really spruce things up and increase home value, consider giving your home a stone veneer facelift. Manufactured stone pairs well with many house styles and gives it a rich feel. Why would you want to spend money on an upgrade like stone veneer if you’re just selling your home anyways? If your home is competing with several others in your area that are similar in appearance, a stone veneer is a great way to draw attention to your listing and could help you sell your home quicker and for more money.

If you have vinyl siding, incorporating manufactured stone veneer is a great way to enhance your curb appeal and increase home value. On average, you can cover 300-square-feet of the bottom third of your home’s street-facing facade for about $10,000 and reap a whopping 92 percent ROI, according to Remodeling magazine’s 2021 Cost vs. Value Report .

6) Increase home value by upgrading your kitchen

It’s easy to understand why the kitchen is a huge selling point for buyers, they often imagine preparing meals and socializing with family and friends in the new space. Budget-friendly and simple improvements include repainting cabinets, adding a backsplash, and replacing the sink. You can also opt for eco-friendly options and upgrade to a low-energy microwave, select water-efficient features, and energy-efficient lighting. No matter which project you choose to do in the heart of your home – it should increase your enjoyment of the space. In fact, the National Association of the Remodeling Industry gives upgrading your kitchen a “ joy score” of 10 in their annual Remodeling Impact Report .

7) Pay attention to your yard

First impressions make a difference when selling a home, and sprucing up the exterior of your home is just as important as the interior. Put yourself in the buyer’s shoes. Would you feel compelled to tour a home if it didn’t look well kept on the outside?

Curb appeal helps to bring buyers through the door, sell your home quickly, and can increase the value of your home up to 11% .

Here are some easy, budget-friendly curb appeal ideas improvements you can try today.

Repaint or replace your front door. Front doors quickly begin to look worn and tired with daily use and extreme weather. Repainting or replacing your door is a quick and cost-effective way to add curb appeal.
Update the exterior lighting. If your walkway up to your front door is poorly lit or your fixtures are outdated, consider updating your exterior lighting to create a more inviting entryway. You can also illuminate some of your landscaping work, trees, and shrubs. From post lights, LED lights, solar lights, and wall mounts, the options are endless.
Switch out your old fence. Worn fences can take the attention away from your home and hurt your property value. Replacing your existing fence for a new one can give your yard the boost it needs by enhancing the greenery, ensuring privacy and security, and increasing home value. You can choose between several different materials, including wood, vinyl, aluminum, wrought iron, and composite.
Hire a professional landscaper. Opt for a low-maintenance and clean-cut landscape design to appeal to buyers, and increase how much your property is worth . Even edging the beds, mulching the garden, and pruning the trees and hedges can enhance any landscape. Consider working with a professional landscaper to maximize your curb appeal and create a front yard that buyers will love the moment they arrive.
Wash the windows and the siding. It doesn’t take long for your house and windows to form a layer of dust, dirt, fingerprints, or even algae, leaving your home looking dull and grimy. Hire a professional for regular cleaning to avoid paint stripping, splinters, and mold and mildew problems.

8) Let the light in

More lighting can bring life into a room. While a poorly lit room can feel small, dark, and cramped, a brightly lit space does just the opposite. The proper lighting can make your home look cleaner, more spacious, and increase home value. Try to schedule open houses and home tours during the brightest time of the day, and be sure to open window blinds to increase natural light. Replace dim bulbs with bright, warm-spectrum bulbs. Consider incorporating recessed lighting into your home, the number one most valuable home trend today. You can even incorporate an eye-catching light fixture, perhaps in the entryway, to improve the perceived value of your home and add a bit of character.

9) Focus on the bathroom

The bathroom is one of the most important rooms to prospective buyers, and a few budget-friendly updates can take it to the next level. Consider replacing the sink faucet with a stylish alternative, switching out your showerhead, adding granite or marble countertops to your bath vanity, or upgrading the lighting.

10) Pay attention to the details

Even the smallest updates have the ability to dramatically improve the appearance of your home. Check out these quick and budget-friendly improvements that can increase home value:

Updating knobs on kitchen cabinets and doors
Fix loose wires and leaky faucets
Add attic insulation
Wrap up home projects and little repairs
Replace faceplates and wall switches
Refinish your hardwood floors
Regrout floor and shower tile

11) Hire a home inspector

If you’re preparing to sell your home , it’s a good idea to schedule a pre-listing home inspection to check out the areas of your home that you don’t normally see and identify any problems in advance. Home inspectors look for underlying safety issues on the home’s structural, electrical, and mechanical systems that could severely impact a buyer’s resources to make necessary or needed repairs. Roof damage, a termite infestation, a water leak, or outdated electrical wiring will surely decrease property value. If you’re aware of the issues, you’ll be able to get them repaired before listing your home all while increasing the value of your home.

Source: RedFin

Which Is a Better Fit? Move-In Ready Homes vs. Fixer-Upper Homes

Mon, 02 May 2022 17:47:31 GMT

You have a lot of things to consider when house hunting. One of the most significant is – do you want a home that you could move into tomorrow or a home that you can fix up and customize to your liking? Choosing between move-in ready homes and fixer-upper homes can be challenging given they each have their own unique set of advantages and disadvantages.

To help you determine the right type of home for you, we have created this guide that’ll break down the definitions of move-in ready and fixer-upper houses, some of the top pros and cons of each type of house, and even how to find these homes in your area. Let’s get started.

What is a fixer-upper?

If you’ve ever toured a home with shag carpets, peeling paint, and kitchen appliances from the 1970s, then you know all about fixer-uppers. A home described as a fixer-upper is usually livable – but the property needs significant maintenance work such as redecoration, redesign, or reconstruction. Every fixer-upper is different; some only need cosmetic updates, while others may have more severe problems like mold or structural flaws.

What does move-in ready mean?

The definition of ‘move-in ready’ can vary depending on who you ask. At its core, move-in ready means the current state of the house or property is ready for immediate occupancy. However, the term is more broadly used to describe a house that doesn’t need any major renovations or aesthetic updates prior to moving in. Turnkey homes are more likely to have key features that many homebuyers are looking for, like modern appliances, updated flooring, and sleek interior design.

Pros and cons of move-in ready homes

Before buying a home that’s move-in ready, here are some advantages and disadvantages to consider.

Pros

Immediate move in: After house hunting, home inspections , bidding wars, and more, the last thing some homeowners want is a remodeling project. Buying a move-in ready home allows you to unpack your boxes and enjoy your home immediately.

Fewer surprises: Move-in ready homes are safe for immediate move in. If you complete the proper inspections, you can expect fewer surprises like a septic tank issue or foundation problem that could cost a lot of time and money to fix.

It’s easier to stick to your budget: You’ll likely have an easier time sticking to your budget when buying a move-in ready home. Since these homes typically don’t need renovations, you won’t need to worry about going over budget during construction.

You may have an easier time qualifying for a loan: Move-in ready homes are usually seen as a less risky investment than fixer-uppers to mortgage lenders. This can make applying for a home loan easier for you if you’re buying a turnkey home.

Cons

More expensive: Convenience comes at a price. Move-in ready homes are often more expensive than fixer-uppers.

Limited opportunity for customization: Other than interior design, there isn’t much opportunity to customize these homes to your liking. Changing the floor plan to add a bedroom or bathroom could be extremely difficult and costly.

Lots of competition: The benefits of a move-in ready home are appealing to many homebuyers. Because of this, you may have a more challenging time buying a house because of the high competition.

You may not be able to find a truly move-in ready home: Based on your preferences and the houses currently on the market, you may not find a home that perfectly fits your needs without any renovation.

Pros and cons of fixer-upper homes

A fixer-upper can be a great option for some homebuyers. Below are some of the major pros and cons of fixer-upper homes.

Pros

Better value: As mentioned previously, fixer-uppers are often sold at a lower price than turnkey homes. If you have the time and money to invest in a fixer-upper, you can get a large house in a great neighborhood for a fraction of the cost.

You can personalize your home: A fixer-upper allows you to tailor your home to your personal needs and style.

Lower property taxes: Since property taxes are calculated on a property’s original purchase price, you’ll likely pay less in taxes when buying a fixer-upper than if you were to buy a home that you can move into immediately.

Investment opportunities: When done correctly, buying a fixer-upper and transforming it into a turnkey property can be a great investment opportunity for some homebuyers.

Cons

You may need temporary housing: You may not be able to live in your home during construction. If that’s the case, you’ll have to find a temporary housing solution like moving in with family or finding a short-term rental property – which can be expensive. If problems arise during the renovation process, who knows how long you’ll have to be in your temporary housing solution.

Unknown problems: You never truly know what you’re getting yourself into. During demolition, you may find significant issues like structural flaws, asbestos, mold, etc., that can quickly eat away at your budget.

High risk: Some mortgage lenders may see your home renovation as a risky investment. Because of this, they may choose not to finance your purchase, or you may have to use more expensive loan options .

Source: RedFin

Tips for Spring Cleaning Your Kitchen

Mon, 25 Apr 2022 17:59:02 GMT

Spring is officially here, which means you might be feeling a renewed sense of energy that’s leaving you ready to get your home a bit more organized.

The kitchen is a good place to start your spring cleaning. Your kitchen is likely where you spend most of your time. It’s functional but also a key gathering place. As a result, it also tends to get the messiest.

Spring clean your kitchen with these tips.

Start At the Top

You don’t want to start at the bottom of your kitchen with your spring cleaning. If you do, you’ll get dirt on the surfaces you’ve already cleaned. To prevent this, start up.

That means dusting off the tops of your cabinets, your ceiling fans, and your light fixtures.

You can also clean any windows in your kitchen, take off curtains, and wash them. Dust the top of the refrigerator, and dust anything decorating your walls.

Wipe Surfaces

Your goal when spring cleaning your kitchen is to get every surface. That means countertops, tables, chairs, and the fronts of your cabinets and your knobs. Wipe your drawers and their knobs and polish the sinks and faucets—clean your appliances' exterior surface, including the microwave, oven, and refrigerator.

Cabinets and Drawers

Our cabinets and drawers can become a catch-all in the kitchen throughout our daily lives.

Once you’ve cleaned the front surfaces of all your cabinets and drawers, you can work on the inside.

Work on one cabinet or drawer at a time. Remove everything in each. Clean the interior and use a degreaser, particularly on the ones around your range.

Throw away unneeded clutter.

Ensure you get the hinges because that’s an area where greasy dust tends to gather.

Counters and Small Appliances

Your countertops should already be fairly clean since you wiped down surfaces earlier.

You can remove everything from your countertops and give them a deeper clean using a microfiber cloth and soap water.

Before putting any of your small appliances back on the counter, like mixers or toasters, wipe them with warm, soapy water.

Add some baking soda to your sink to scour it, and buff it.

Big Appliances

If you have a microwave, one way to loosen up tough, stuck-on food is to bool a cup of water and then let it sit inside for a minute. Wipe it down with a damp cloth. Clean your oven and stovetop and the inside and outside of your dishwasher.

Your refrigerator can be a project in and of itself.

You need to take every single item from your fridge to get started. You should throw away anything old, expired, or that you don’t use.

Once everything is out, you can start cleaning every interior part, including the shelves, walls, and drawers. You can use soapy water made with dishwashing liquid.

Remove your drawers and shelves so you can clean those in the sink.

If you can, plan to do all this before your grocery shopping day.

When you add items back into the fridge, make sure that you’re grouping like items together.

Consider using storage or produce containers in your fridge because it will help you keep things more organized and keep your food fresh for longer. You can eliminate packaging that takes up unnecessary space.

As you add items back to the fridge for your spring-cleaning session, the bottom shelf or drawer is best for meat because it’s the coldest.

Put butter on the doors and soft cheeses, because it’s warmest here. The middle is good for eggs and dairy like yogurt and milk.

You should do a similar cleanout of your pantry if you have one. Empty everything, clean from top to bottom, and throw away what you don’t need. Then, you can start to reorganize the space with a clean slate.

Floors

Sweep and mop your floors, but make sure you’re not just doing the visible areas. You want to get under appliances, rugs, trash cans, and planters. Get into the corners and around the edges of cabinets.

Finally, if you use any linens in your kitchen, you can change them out for spring or maybe add a few seasonal dishtowels for a pop of fun and color.

Source: RealtyTimes

14 Questions to Ask Before You Hire a General Contractor

Mon, 18 Apr 2022 17:23:09 GMT

When looking to hire a contractor for your building or remodeling project, you may feel a little overwhelmed and unsure of how to guarantee they are not only legit but also the best at what they do.

Do you remember playing the game 20 Questions as a kid? Hiring a contractor is similar. You have to use questions, deductive reasoning, creativity, and tact to ensure you are getting the most for your dollar (or couple hundred thousand of them).

First, how do you find the right contractor to interview?

How to find the right contractor

Whether you are hiring a remodeler for a residential or commercial property project, the first thing you want to consider is a contractor’s reputation.

Do you know anyone who has hired them previously?
What did previous clients say about their work and the value of it?
Their reliability?
Their communication and punctuality?

Having a friend or family member who can vouch for a contractor they have personally used is great, but you must check into their public reputation for yourself. This can easily be done online.

Once you have some confidence in their skills and competence, based on your investigation, it’s time to get on the phone and start interviewing.

When you first meet them, don’t hesitate to shoot the breeze a little bit.

It’s nice to know about a contractor’s family, their priorities, and what they like to do. Only spend a few minutes doing this though, as you want to be respectful of their time, and good contractors are typically very busy. Once you’ve broken the ice, get right into the questions.

A good contractor understands how important your property and projects are and knows that you will have lots of questions. If they won’t answer your questions, they are not your contractor. Run!

If they don’t show up for your appointment or interview, do not give them a second chance. If they are 30 minutes late, they had better have a good reason. If it’s acceptable to them to be late or not show up before you hire them, you can bet that this behavior will remain consistent or even get worse after you hire them.

When you meet a contractor, take note of their appearance and, if possible, the state of their vehicle. This can say a lot about a person’s organization and attention to detail. If there are fast food bags, empty water bottles, paperwork, and trash scattered everywhere, it seems likely that this is how your house is going to look if you choose to work with them.

It’s essential to thoroughly vet your contractor in the interviewing process.

What to look for during your search

If you aren’t careful about who you hire, it could cost you everything. Here are several tips to keep in mind for your initial search.

Get multiple estimates. You want to make sure you initially get estimates from more than one contractor, preferably around three.
Go local. If possible, local contractors are your best option because they will be more familiar with local building codes and will always be close by if you have to contact them for an emergency.
Check for proper licensing. If unlicensed, they will not be able to pull necessary permits, which will mean that your buildings are not up to local building codes and will not pass inspections. Unfortunately, you would then be held financially responsible for the repairs to meet those codes. Licensing is essential!
Check for warranties. Warranties are great for both parties because they protect the contractor from having to come back for multiple repairs over a long period, and also ensure the homeowners that the work of the contractor will not be shoddy or sub-par. You want a warranty in writing.
Check their past work. Look them up on the Better Business Bureau to check their reputation. You want a contractor with more than five years of experience, preferably. Ask for a list of references from their previous projects and follow up with these. You can also check their reputation and reviews on social media platforms or Yelp.
Utilize best payment practices. Don’t pay in cash or the full total upfront. Be wary of any contractor who demands either. An initial payment should be about a third of the estimated costs and should be given in the form of a check written to the company, not an individual.

Getting multiple estimates and carefully vetting your contractor may take some time, but at the end of the day, it is more than worth it for your peace of mind and your bank account.

Now that we’ve discussed a couple of tips to help you vet your contractor, let’s nail down some questions you will want to ask them.

Questions to ask during the interview

We have gathered a list of the best questions to ask a contractor during the interview process.

How many people work for you, and what is the structure of your company like?

This will tell you how large their organization is, which can be a good indication of how long they’ve been around and how well-established they are.

It can also tell you what type of support they have. Having administrative personnel who help manage project schedules and billing, a project manager, assistant managers, and other support will likely make it easier for you to get in touch with the company when you need to. You won’t have to worry about an individual being your single point of contact.

How long have you been running your own crew?

This question helps give you a better idea of how experienced they are at what they do and if they have a track record of being dependable over a long period.

You may want to ask them about turnover on the crew as well. If they have to fire their framer every other week, you may have a hard time getting that part of your renovation done.

Are you licensed?

Definitely make sure their licenses are up to date and they are registered with the state you’re in.

Are you insured?

This includes General Liability Insurance and Workers’ Compensation. There is only one right answer to this question. Once they hopefully say yes, ask to see a copy of their policy.

Will you be using subcontractors on this project?

Ideally, the contractor can do the entire project with just their own team, whether for a residential property or a commercial real estate property. This allows the general contractor to have more control over the timeline and the budget.

If they have to sub-contract specific parts of the project out, then they cannot control, for example, this plumber or that painter’s schedule.

Regardless, you need to make sure that each person conducting work is trained, licensed (if applicable), and insured. While subcontractors aren’t a red flag per se, they can create more work for you and also increase your timeline.

Have you ever had to declare bankruptcy or operated your company under a different name?

If they say yes, you will need to do a little more research to ensure they are not going to go bankrupt again. You also need to check on any previous companies as there is probably a reason they are not still in operation.

When you research and conduct interviews, it is not enough that they “pass the test.” You need to answer two questions: Are they a good person? And can you work with them?

Once you have a good idea of the contractor’s reputation and experience, you can start to figure out scheduling, timelines, communication, and organizational structure.

Have you ever had to deal with lawsuits?

Even though this question is delicate, you need to know the answer. This question consists of three parts.

Have you ever been sued? A “yes” answer is not an immediate reason to cut off the interview then and there, but you’ll want to dig a little deeper to find out what the suit was about, how it turned out, and how this contractor handled or responded to it.
Have you ever sued a client or filed a mechanics lien against a property? You need to understand the details. At the very least it will give you an indication of their transparency and character. You can always follow up with the public record.
Has your company ever had serious accidents that caused hospitalizations or injuries? Again, it is okay if the answer is yes—accidents happen. What’s important is how the contractor dealt with the situation and what they are continuing to do to ensure it doesn’t happen again.

Will you agree to sign lien releases before I pay you?

This answer needs to be “yes.” If your contractor does not want to sign a lien release to be paid, for any reason at all, their intentions are probably not what they should be.

How often do you communicate with your customers?

You need to get a sense of how often they will communicate with you. Will you get a daily report of progress or a weekly one?

It’s important to ask them first, rather than leading them to the answer you want to hear. Their answer will quickly give you an understanding of their professionalism.

You could even offer to have them text you pictures of their progress in lieu of a daily call.

How do you clean up your job site?

Don’t lead on this question by saying, “Do you clean up your job site daily?” Instead, ask them what they do at the end of every job day.

If they give some kind of half-answer, then you might say, “Would it be an issue if I wanted my job sites cleaned up at the end of every day?” It’s important to see what they say to your request, and then make your hiring decision based upon how they respond.

If the job site is a mess, it’s a liability for you and also makes you look like a slob to passersby.

How many projects do you have going on right now?

If your contractor says they are juggling three jobs at once, they will likely not meet your deadlines.

Your next question should be, “How will you handle my job at the same time as those other three jobs?”

Your soft costs will start to eat up your profits every day if you have to wait for them as they juggle other jobs as well.

What would our contract look like?

A lot of contractors don’t even use contracts (believe it or not), so it’s important to have this conversation at the beginning.

It’s best to always draft the contract you use and ensure that everyone signs before work begins or any money is exchanged.

Not every contractor will be okay with this, but you need to have a lawyer review any contract before you sign it. If it is written by your contractor, it is to protect them, but not necessarily you.

Who would be at my house and when?

You need to ensure that no one is allowed access to your house if they have not had their background checked by the company.

Additionally, you want to ensure that there are only contractors working when you give them express permission and within the boundaries that you’ve laid out.

How and when would you like to be paid?

An upfront payment of 50% is not reasonable, no matter what they say. A fair amount to pay upfront is roughly 30% of the estimated costs. Make sure you both agree to and sign a predetermined payment schedule before the start of the job.

A good contractor has enough in reserve to cover expenses to get started but occasionally will need money for some materials. If this is the case, you can order the materials and have them delivered directly to you. This way, you have what you paid for.

You need to be able to work well with your contractor. At the end of the day (or project), you want this contractor to have respected your property; been open and honest; treated you fairly; and completed the job within budget, on time, and to your personal standards.

If you find that you need to report a problem contractor, the Federal Trade Commission’s “Consumer Information” webpage lists several options for you to do so.

However, you shouldn’t have to worry about having to report a contractor if you properly vet them in the first place.

Source: BiggerPockets Blog

Is Your Listing’s ‘Days on Market’ Scaring Off Buyers? Here’s How To Fix It

Mon, 14 Mar 2022 18:43:04 GMT

When homebuyers scan property listings, they’re typically focused on the location, the number of bedrooms and bathrooms, and, of course, the price. But some savvy homebuyers (or their real estate agents) are also paying close attention to another metric: “ days on market .”

If your property’s been for sale for too many days, it can seem less desirable to buyers—especially in a heated, competitive seller’s market where most homes move quickly. Ultimately, it can negatively affect the offers you receive. But not to worry. In fact, sellers with a high days on market metric have plenty of options—and maybe some work to do—if they want to make their house fly off the listings page.

Here’s everything sellers need to know about how a high number of days on market can hurt them. And strategies to renew interest in a no-longer-hot property.

What does ‘days on market’ mean, anyway?

A property’s days on market metric is determined by the total number of days that a property has been for sale before it enters pending status .

Your days on market number, of course, will be low if you’ve recently listed your home. Newly listed houses get a lot of attention.

However, a home that’s been sitting for a while starts to look stale.

“It might lead buyers to assume there is something wrong with the property,” says Heather Bogenhagen , a real estate agent with Berkshire Hathaway in Santa Monica, CA.

What’s the average days on market for a home?

According to the latest data , the typical home spent a median 43 days on the market. But a listing hanging around for a month-plus might seem long to people in hot housing markets where you practically have to put a bid in the day something goes up for sale.

Of course, an average number tells only part of the real estate story. And your days on market metric could vary widely depending on where you live, how competitive the housing market is, and how desirable your home is.

A major factor that affects all this is the price. High-end properties often sit on the market for a year or more because the pool of potential buyers is much smaller, says Wendi Roudybush , associate broker with Garden Brook Realty in Prescott, AZ.

What to do if your house is languishing

Let’s say your house has been sitting on the market for a while, and is no longer the belle of the listings’ ball. Does that mean it’s doomed to never find a buyer? Not at all.

In some areas, the multiple listing service will reset the days on market if the property listing is withdrawn and then relisted, says real estate agent Jennifer Okhovat , with Compass in Los Angeles.

“When a property goes off the market and then on the market as a new listing, it gets pushed out to everyone whose notifications are set to receive updates when a new property is listed with certain criteria,” adds Okhovat.

Consider making some updates

Before you reset your listing, it’s a good idea to make some improvements that will make the house more appealing .

Start with cosmetic changes that you might have been avoiding but clearly must tackle.

“See if you can make a difference with paint, new flooring, updated staging, landscaping,” adds Bogenhagen. “Then take even better photos that show off your house to its full advantage.”

Think about lowering the asking price

More often than not, a high days on market is an indication that the house wasn’t priced correctly , says Bogenhagen.

“It could be that the prices are changing rapidly and maybe the price was fine two weeks before it was listed, but then there was fluctuation once the house actually went on the market,” she adds.

So when you make improvements, you might stick with your current asking price. Or relist at a lower price.

Remember to be realistic. Any property with a negative external influence—such as busy streets, power lines, or railroad tracks—should be marketed and priced accordingly against comps, suggests Bogenhagen.

The bottom line: If your house has a high days on market, you may have to acknowledge that it’s likely not going to fetch the price you had hoped for. Make the updates you can, and/or be prepared to accept a lower offer.

Or you can go the opposite route and ride out a high days on market metric and hope that the right buyer will eventually come along. If you’re not in a hurry to sell—and really want or need a certain price—you might decide to wait, and let those days on market rack up.

Source: Realtor

Should You Hire a Home Inspector for a New House?

Mon, 07 Mar 2022 19:11:32 GMT

When you buy an old house worn down by time and climate, it’s a no-brainer to hire a home inspector to check what shape it’s in—before you commit to your purchase. But should you hire a home inspector for a new house, even if it hasn’t been finished yet?

As odd as it may seem, the answer is yes. Here’s why new houses should get inspected, too, and the best way to go about it.

New homes can have problems, too

Sure, a new home may look flawless, but that’s because no one has lived in it to see if anything’s amiss. Ever notice how new products can be riddled with flaws that are caught only after they’ve been tried out by consumers? (We’re looking at you, Samsung Galaxy Note7!)

Well, the same is true for homes. Buy a new one, and you’re essentially the guinea pig testing how well the HVAC system works and whether the basement floods during a storm. An old home, by contrast, may have more wear and tear, but the owner is required by law to disclose any known problems.

New homes aren’t always built to code

We know what you’re wondering: Don’t county building inspectors make sure construction on a new home is up to snuff? They should, but that doesn’t always happen in reality. County inspectors work for the municipality and make sure new construction lives up to a minimum building code—repeat, minimum—plus these public servants don’t work for you. And unless you’re a general contractor or know nailed drywall as opposed to screwed, well, you just might be screwed yourself.

Reuben Saltzman , president of Structure Tech Home Inspections in Minneapolis, MN, says he’s found “egregious defects with every trade in new construction.” In one new house, he discovered that a contractor had failed to install attic insulation —not a good thing in a state that regularly sees below-zero temperatures in winter.

“The code inspectors missed it,” Saltzman says. “It paid off for this buyer to have a home inspection performed.”

Why new homes should ideally get two inspections

In fact, if you’re buying a home under construction, you should hire an inspector twice. The first time is so he can look over the home before the walls are closed, and inspect framing and systems installation. The second should be after the home is complete, so he can inspect everything else.

Home inspectors typically charge $300 to $500 , depending on the size of your home and where you live. While hiring one twice might seem like costly overkill, think of it this way: If you spring for an early pre-drywall inspection, the inspector will make sure the studs, insulation, home systems, beams, and posts have been installed properly. That’s a sneak peek most home inspectors don’t get to make with homes once the walls are up. And if problems turn up, you can take the list of complaints and concerns—an early punch list—to the builder to correct before the walls are closed.

Once construction is complete, ask your inspector to review the house a few days before your final walk-through with the builder. The inspector is trained to notice details that escape the unpracticed eye. Add these issues to your final punch list, and don’t fork over the final payment until each problem is solved.

If you’re not part of the construction process and buy a spec house after it’s completed, add a home inspection contingency to your sales contract and hire an inspector to review the property before closing. Not only will an inspector make sure the house and systems are sound, but if you accompany him on his rounds, he’ll also teach you how to operate and maintain your new home.

Source: Realtor

The Most Important Repairs Sellers Should Make for Buyers

Mon, 21 Feb 2022 15:22:59 GMT

Thinking about getting your house in shape to list for sale before the super seller’s market fades away? If you’ve owned your home for five years or more, or if you’ve been putting off maintenance tasks, you may have a great deal to figure out first. Maybe your home could use some big ticket upgrades, or perhaps the roof is at the end of its life. Repairs can certainly boost home salability, but not all will net sellers a worthwhile return on the investment or help them to sell quickly. To determine the most important repairs sellers should make for buyers, it comes down to two main components: seller goals and local market conditions.

Should Sellers Make Major Home Repairs?

When it comes to performing any major remodeling or home improvement project, most statistics show that you will not recoup the cost of those big-ticket item repairs. As nationally syndicated consumer columnist Clark Howard says:

“The reason you do an improvement to your home is ’cause you want to. Because you end up losing money when you do a home improvement; you don’t make money.”

Howard’s assertion is supported by the findings of the two most current and credible sources, the annual Cost vs. Value Report by Remodeling Magazine and the National Association of Realtors’ annual Remodeling Impact Report . The Cost vs.Value report breaks down its findings by ZIP Code to reflect local construction costs, while NAR’s report includes valuable feedback from Realtors’ perceptions of the impact of each project’s resale value and the risk of losing sales should owners forgo an improvement when needed.

(As a note, the most current NAR report is based on survey data from the summer of 2019, nine months before the pandemic arrived, and thus not reflective of the current extreme seller’s market. Remodeling’s report was gathered in the first half of 2021 and reflects rising contractors’ costs that have led to spikes in home prices.)

So, if you’re looking to make a major buck in your home sale, major repairs may not be the best route. However, if you opt not to make repairs, it could cost you a sale entirely. This is when working with an agent to establish your goals and strategize accordingly becomes paramount.

Home Repair Costs are Rising, and Sellers’ Returns are Falling

Homeowners’ average return on their investments in improvements has fallen 11 points since 2014. Project costs have been rising steadily for years, and soared especially during the pandemic due to supply chain issues and labor costs.

However, a recent Homes.com survey found that this year’s competitive marketplace has somewhat bucked that trend and made it easier for pandemic sellers to recoup much, if not all, of their home improvement costs. According to the report, 82% of homeowners who sold in the first half of 2021 accepted offers at or above listing price. Of that group, over a third (34%) spent $10,000 or more on repairs or upgrades, and one in four recouped those costs entirely by selling for $10,000 or more over listing price.

But sellers may not be able to expect those same robust selling prices for much longer. Price growth and buyer activity is cooling down, meaning buyers may not feel desperate enough to overlook needed repairs that previous pandemic buyers have been more forgiving of.

What Do Sellers Need to Disclose About Repair Needs?

State laws require sellers to disclose specific information to buyers about the house’s structural and other features that might affect the house’s value. For example, in some states, sellers cannot fraudulently conceal major defects such as a leaking basement or termite infestation. Many states have created standard forms with which sellers are expected to record any problem affecting the property’s value or condition.

State legislations aside, standard real estate contracts contain a contingency clause that allows the buyer to conduct a house inspection. Should the inspection find that repairs are needed, contingency clauses usually require sellers to make them before closing, give buyers the right to renegotiate the selling price to account for the cost of the repairs, or walk away from the deal and retrieve their earnest money. In today’s highly competitive markets, some buyers are making bids that omit one or more contingency clauses, but most retain the home inspection clause.

What Should Sellers Repair Before Listing?

In today’s seller’s market, it’s unlikely that sellers will lose deals over minor repair needs. In fact, Homes.com’s aforementioned survey found that 32% of homeowners who plan to sell in the latter half of 2021 plan on making repairs prior to listing. Remember, though — the market is showing signs of slowing down.

If you plan on selling in the coming months, make a list of all significant repairs needed and get estimates on the cost of repairing them. It might also be wise to hire a home inspector who can prepare a report listing necessary repairs that would require you to disclose them to potential buyers under your state’s disclosure requirements.

Once you have your list of issues, divide them into these categories:

Minor repairs that can be fixed before listing (such as landscaping) and/or cost less than $5,000 each to fix, like painting, trash removal, or gutter repairs and cleaning.
Major repairs you’ll either have to fix or otherwise disclose to buyers, such as water and sewer systems, structural systems, electrical, HVAC systems, wood-destroying insects, and hazardous materials such as lead paint.
Issues from the above lists (or others you may have missed) that have the greatest potential to become deal breakers that drive away buyers. Depending on the market, these deal breakers could include a cracked foundation, a leaky and/or moldy basement, extensive termite damage, an old roof that needs replacing, or window-unit air conditioning. This is the list you ultimately want to focus on.

What you add to the deal breakers list will depend on both your goals and your local market. Does a quick sale take precedence, or is your main goal a high selling price? Are there issues that local buyers are consistently walking away from? Your agent will have those insights, and can help you determine which repairs will strike the balance in between.

How to Sell Your Home When Major Repairs are Needed

Repairs for some major potential deal breakers, like old roofs or moldy basements, can be paid for with an equity line of credit you pay off at closing. For repairs you absolutely can’t afford to fix —but can’t afford not to fix if you want it to sell — you have three options:

Get repair estimates from local contractors. Proceed with selling as planned and disclose problems as required by law. Should the issues surface in the buyer’s inspection, be prepared to fix them before closing or lower the sales price.
Make the minor, inexpensive repairs, then get an appraisal to determine your home’s market value. List your house at that value, minus the cost of repairing any potential deal breakers your agent has identified. Share the estimates with serious buyers and their agents, explaining that you lowered the price and why. A lower price should attract interest, and bidders may even raise their offers beyond what the repairs would cost you.
Sell your house “as is.” Don’t make any repairs or improvements, but price your home a good deal lower than its actual value to reflect the home’s condition. The low price could generate a lot of interest, especially from investors, and your best offer may be as high, or higher than, the actual value. This can be a gamble in a cooling market, but your agent will know if it’s a strong option.

There’s no “one-size-fit-all” solution to identifying the most important repairs sellers should make, but as long as you identify your goals and work with a knowledgeable agent, you’ll enjoy a much more successful selling process.

Source: Homes.com

New House Checklist: What to Do Before Moving In

Mon, 14 Feb 2022 19:25:34 GMT

After all the paperwork, long nights, and the back and forth with your real estate agent – you did it, you have the keys to your new home. So what’s next? You may have the urge to start making your house a home, but before you jump into it, there are a few important things to consider on your new house checklist. From scheduling cleaners and coordinating movers to researching home improvement projects, there are many things to do before moving into your new house.

This is where a new house checklist comes in. We created a checklist that outlines what tasks to complete, when you should complete them, and what essentials you need. So whether you are moving into a new house in Phoenix, AZ, or need a new house checklist in Portland, OR, read on to see what to consider.

New house checklist

Transfer utilities before closing
Schedule movers
Update your mailing address
Set up internet, cable, and appliances
Consider the layout of your new home
Locate the circuit breaker and water valve
Change locks and home security
Deep clean each room
Assess home improvements to tackle
Stock each room with essentials
Create and organization system

1) Transfer utilities before closing

The first priority for your new house is to change the utilities to your name. Doing this will guarantee that electricity, garbage, water, and gas are up and running by the time you open the door. When exactly should you cross this item off your to-do list? You should contact your utility companies at least two weeks before your move-in date. It takes a few weeks for accounts to switch over depending on the city so it is good to get this handled before you move. Once the account is in your name, you will have one less thing to worry about during your move.

2) Schedule movers

Having an extra hand when it comes to moving will take the weight off your shoulders and allow you to relax. Scheduling movers from a reputable company will guarantee your furnishings are handled with care and will also help with loading items into your home.

3) Update your mailing address

Having an up-to-date mailing address is very important. You’ll want to notify the right people and places about your move and it’s better to do this earlier rather than later. You don’t want to miss a bill payment because the notice was sent to your old address. Here’s a list of the top people you’ll want to give a heads up about your move:

the post office
tax agencies
utility companies
insurance providers
your employer
your bank
credit card companies
loan providers
online shopping sites

Also, don’t forget to give your new address to friends and family so they can help you unpack and congratulate you on your new home.

4) Set up internet, cable, and appliances

Setting up internet and cable may be one of the first things you’ll want to do in your new home, especially if you’re working from home. Research different companies and consider plans that work with your lifestyle and have a strong connection in your area. Since creating a new account can take some time, try to schedule an installation a few weeks in advance of when you need it. It is also a good idea to confirm all your appliances are up and running in your new home. Including refrigerators, dishwashers, ovens, washers, and dryers. You’ll likely start using your fridge and microwave on the first night.

5) Consider the layout of your new home and research new furniture you may need

Before the furnishings are brought to your new home, it is important to go room by room and visualize how your existing furniture will work with the layout. Maybe your new home includes a bonus room, a garage, or even a larger outdoor space. Knowing how the different layouts your new home provides will help you get a feel of what you may need. If you are moving with children, establish necessary precautions for their safety. This includes locating outlets, sharp edges, and anything around that could cause them harm. If you are moving with pets, make sure to get right back to their routines as this will help your pet adapt to their new surroundings.

6) Locate the circuit breaker and water valve

In case of an emergency, you’ll want to know where the circuit breaker and water valve are located. Knowing where these two things are in your home will help in any situations where an emergency shut off or a reset is needed. You can typically find the water valve in the basement or crawl space, the garage, or on an exterior wall. As for the circuit breaker, it is generally in an area of your home that is tucked away such as a closet, basement, or garage. Also, take note of all the smoke detectors and carbon monoxide detectors so you can keep up with the required maintenance.

7) Change locks and invest in home security

When you move into a new home, it’s important to change the locks to the doors, garage, and invest in home security. There is no telling how many copies of the keys are out there, so it’s always better to get new ones. Changing the locks doesn’t have to be difficult. Reinstall the locks on your own or seek professional guidance from a locksmith to ensure you are kept safe. Protect your home even more by investing in home security. Whether that’s with a professional company or a smart doorbell, there are many options to help you stay safe.

8) Deep clean each room

One thing to consider is deep cleaning each room of your new home. To ensure that no parts of the home are overlooked, scheduling professional cleaning companies can relieve the stress. And if that’s not in your budget, a little elbow grease can go a long way. Deep cleaning will ensure a clean slate for your new home.

9) Assess home improvements to tackle

Of course not every home is perfect, and when you were touring, you may have considered a number of potential home improvement projects. From replacing your floors to new cabinetry, the possibilities are endless when designing your dream home. Depending on the size of the project, it is essential that you take time to budget before any surprises arise, and set time aside for the completion of any remodels.

10) Stock each room with essentials

You likely won’t unpack every box by the first night of move-in, so you’ll want to pack a box of essentials for each room while you are making the transition. Go room by room and see what you may need within the first week of moving into a new house. To get you thinking, consider:

For the bathroom: Towels, toilet paper, toiletries, shower curtain, toilet cleaner, plunger
For the kitchen: Easy meals, trash bags, dish soap, dishcloths, glassware, cookware, utensils, coffee maker
For the laundry room: Detergent, hamper, ironing board, iron
For the bedroom: Bedding, hangers, pillows, blankets, a week’s worth of clothes
Other essentials: Light bulbs, batteries, tape, nails, trash cans, cleaning supplies, lighters, flashlights, and phone chargers

11) Create an organization system

With all of your belongings packed away in various boxes and locations, there is no denying that your new home is about to get messy. Creating an organization system will help you unpack each room one by one. You probably – and hopefully – have already labeled your boxes and placed them in corresponding rooms, but consider having a notepad of what boxes and items belong in each room to keep inventory. Having a new house checklist will help the unpacking process flow more smoothly.

Preparing yourself for a new home can go a long way, and with this new house checklist, you’ll be one step closer to making your new house a home.

Source: Redfin Blog

How to Get Rid of Bad Smells Tenants Leave Behind

Mon, 07 Feb 2022 21:14:15 GMT

Getting rid of bad smells after a tenant moves out is one of the unpleasant parts of being a landlord. But, if you don’t take the time to do this, issues with funky odors or a foul stench can severely impact your cash flow. That’s because, after a tenant vacates the rental unit, you typically want to rent it out to a new tenant as quickly as possible. If there’s a rotten smell when you open the door, though, you will find it tough or impossible to land a suitable tenant for your unit. And that can cut into your profitability significantly if you let the issue go unresolved over a long period of time.

As such, you’ll want to get rid of the stench before you lease out the unit to a new tenant. And, that’s true whether the bad smell was caused by normal wear and tear to the apartment—like cooking foods with certain spices or ingredients—or by other things that the tenant did that violated the lease. Here are some tips for getting rid of smells in your rental apartment or unit. These tips will help you do that effectively—no matter what’s causing the stench.

The bad smells tenants may leave behind

Some bad smells that tenants cause are part of the normal wear and tear of the unit. For example, ridding the unit of cooking smells or cleaning stinky drains are both a part of the regular cleaning you should do between tenants . And, if you allow pets in the apartment, chances are that you will also need to eliminate pet odors.

However, other smells could result from lease violations—including things like cigarette smoke, marijuana odors, or the stench of rotten eggs caused by methamphetamines. Let’s suppose the nasty smell is because the previous tenant violated a lease clause. In that case, you can deduct the cleanup cost from the security deposit.

But whether it’s from normal wear and tear or something else entirely, the issue has to be dealt with. So what do you do if a foul odor hits you when you open the front door? Here’s what you should know.

Start by sanitizing the unit and tackling the carpet

Current homeowners are sitting on record amounts of equity thanks to today’s home price appreciation. According to the latest report from CoreLogic, the average homeowner gained $56,700 in equity over the past 12 months.

That much equity can open doors for you to make a move. If you’ve been holding off on selling because you’re worried about how rising prices will impact your own home search, rest assured your equity can help fuel your next move. It may be just what you need to cover a large portion – if not all – of the down payment on your next purchase.

How to get rid of cooking smells in a small apartment

Smells from certain foods and spices can linger in the unit long after tenants have vacated the property. For example, pungent spices, like cumin and curry, can permeate soft furnishings, like drapes, chairs, carpets, and couches—especially if they were used regularly. What that means is that in a small apartment, these types of cooking smells can seep into every room.

If you need to get rid of overpowering odors leftover from cooking, it will typically require you to scrub all hard surfaces in the unit. That’s because things like oils and spices can permeate the air and land on surfaces throughout the unit—and you’ll want to wipe them off of every surface to get rid of the smell.

Once that’s done, you may need to use professional-grade cleaning equipment with deodorizing chemicals that can neutralize smells in upholstery—especially if the rental unit is being rented as a furnished unit. Depending on what you’re trying to clean, though, it may be easier and more cost-effective to simply replace the item. For example, it may be cheaper and easier to replace the drapes than to spend the time and money cleaning the current ones in the unit.

How to get rid of musty smells

If you’re dealing with musty smells, it can be tricky to get rid of them in an empty rental unit. The source of the stale air could be due to the prior tenant not opening the windows and airing out the apartment. Or, the musty odor could be due to mildew or mold issues in the unit.

Opening the windows and letting fresh air into the unit should be the first step to eliminating musty smells left by the prior tenant. Ventilation fans, a dehumidifier, or electric fans can also be useful to increase airflow and remove damp, stale air. However, if the musty stench remains after you’ve employed these methods, you may have to check the apartment for mold growth being caused by water damage.

And, it’s also important to remember that breathing in mold spores is a health risk. According to the Environmental Protection Agency ( EPA ), you should fix plumbing leaks and water problems to avoid these types of issues—or stop them from happening again if they’ve already occurred.

It’s also extremely important to dry the surfaces throughout the home. However, mold can get into porous materials, so if you have a problem with mold or mildew, it may be necessary to replace these materials or surfaces. And remember, you may be able to remedy minor issues with mold, but with more widespread or serious mold cases, it’s important to call professional mold remediators to remedy the issue.

How to get rid of cigarette smell in apartments

If you find your prior tenant smoked in the unit, you’ll need to get rid of the lingering scent of smoke in the unit. That said, getting rid of cigarette and nicotine smells can be incredibly challenging. The smell of cigarette smoke gets everywhere—and it can be problematic when trying to rent out your unit to a nonsmoker.

But, it’s not just the stench of stale smoke you have to contend with. Cigarette smoke odors contain nicotine residue, which can create serious health issues associated with third-hand smoke. That’s true for any tenant but is especially true for children or adults with severe allergies or other preexisting health conditions.

A study in the journal Proceedings of the National Academy of Sciences found that third-hand smoke contains carcinogenic substances. These can remain on carpets, clothes, furniture, walls, drapes, and flooring well after the smoker has vacated the property. And, if you don’t take steps to remove the substances leftover from the smoker, the new tenant or tenants’ health will be at risk because the toxic substances can be inhaled in dust, absorbed through the skin, or accidentally ingested, as a normal byproduct of living in the unit.

To completely get rid of smoke odors after a tenant has left, you may need to completely replace the carpets, drapes, and furniture in the unit. However, dry-cleaning drapes or upholstery may be enough in some cases. Repainting the unit may also be necessary, as it’s the only way to stop cigarette odors from affecting the air quality.

How to get rid of pet odors

If the tenant had a cat or dog in the apartment, pet odors are expected to linger—and are just part of renting a unit to a pet owner. That said, you’ll still want to get rid of the smell before renting out the unit to a new tenant.

For example, carpets are notorious for harboring bad pet smells because pet dander and urine are difficult to remove from the padding and carpet pile. If you want to get rid of the pet stench in the carpet, the most straightforward approach is to sprinkle baking soda on the carpet, let it sit for a few minutes, and then vacuum it up.

But what if you do that and the pet smells are still noticeable after you’ve cleaned the carpet with baking soda? In that case, you can use a blacklight to find where old pet urine stains are located. Once you’ve surveyed the damage, you can decide whether spot cleaning, steam cleaning, or replacing the carpet makes the most sense.

How to prevent bad smells in your rental unit

The best way to reduce vacancy time and maximize cash flow is to prevent bad smells from permeating the unit in the first place. Preventative measures may involve some investment, but you will save time and resources related to deep cleaning after the tenant moves out.

For example, it can be pretty costly to clean or replace carpets, soft furnishings, or upholstered furniture—but if you don’t take preventative measures, you’ll likely have to do so at some point. Likewise, repainting walls to remove unpleasant odors takes time and money. And hiring a professional cleaning crew will eat into your profits.

Of course, thoroughly screening prospective tenants is one way to prevent cleanliness issues or look after the rental unit. But even when you screen your tenants, these types of issues can occur. As such, here are a few tips on preventing the foul smells that are difficult to remove.

Conduct bi-annual or annual inspections

You should always have a clause in the lease that specifies your right to carry out regular inspections of the unit. These inspections allow you to address any issues in the apartment before they are completely out of control. For example, you will typically be able to detect bad smells from issues like pets, garbage buildup, smoking, or illegal activity, like drug use.

Regular inspections also encourage tenants to clean the place thoroughly before you arrive. During the inspections, you can also check for maintenance issues like dripping plumbing, poor ventilation, or blocked air filters, which will help you to further reduce these types of issues.

Spell out policies in the lease

It is also vital to include pet policies and smoking policies on the lease to provide guidance for tenants on what you expect. If you’re going to allow pets, make sure you have the right guidance for your tenant in the lease. And, you’ll want to make it clear what the smoking restrictions are for the unit, too.

Change the flooring

Carpets tend to retain smells from all types of sources. As such, getting rid of the carpet and replacing it with good quality vinyl laminate floors can help cut down on the lingering bad smells in a rental unit. While a vinyl floor may not have the sound-dampening properties of carpets, it is easier to clean and maintain.

Final thoughts

Eliminating smells from a rental unit is typically part of the normal clean-up routine between tenants. However, you may also have to deal with foul, stubborn odors from time to time. Removing the source of the stench, using the right equipment and chemicals, or replacing some of the items in the unit can typically get rid of the smells and help get the unit ready for the next tenant.

Source: Bigger Pockets Blog

Where Designers Would Spend and Save in a Kitchen

Fri, 04 Feb 2022 19:10:22 GMT

From appliances and fixtures to countertops and cabinets, a healthy balance of investment and frugality pays off when it comes to this priciest of home renovations. But what should be at the top of the makeover budget priority list? And where could you cut costs?

Spend on: Quality Appliances

Our experts recommend allocating budget to energy-efficient appliances. They may not be cheaper to buy initially, but in the long term they cost less to run and will tend to be less expensive overall.

“The numbers are out there on running costs, so it’s worth doing the research,” says Diane Berry of Diane Berry Kitchens . “Don’t just buy according to what an appliance costs and how it looks — you risk ‘buy cheap, buy twice.’ ”

Zoe Holland of Sustainable Kitchens says, “It pays to upgrade to energy-efficient appliances — they can save more than money in the long term.”

Clinton Patey of The Kitchen Partners recommends getting an instant hot water dispenser. “It’s not just a luxury, it’s energy-efficient … and has a safety handle that reduces the risk of burns.”

Patey also advises that you consider how your appliances affect the rest of the space. For example, he notes the importance of a quiet dishwasher, “especially in open-plan spaces where you can’t shut away the noise.”

“A cheap fridge will make more noise and cost more over its lifetime,” Berry says. “You could have bought the more expensive machine and had the joy of a quiet kitchen.”

A good vent hood is also key, especially in open-plan spaces. “It keeps the kitchen from becoming smelly and greasy and reduces damage to the cabinets above,” Patey says.

Save by: Recycling and Reclaiming

Opting for reclaimed countertops — alone or paired with another material — can save money and be stylish, our experts say.

In this kitchen, “we’ve reused old school lab benches made from iroko wood, complete with graffiti and gum, and given them some TLC for a new lease on life,” Holland says. “Whether paired with other wood countertops or with stone or quartz, this could save a bit of money on your kitchen renovation.”

Another way to reduce countertop costs is by buying stone slab remnants left over from larger jobs. These can be used for a smaller area such as an island top or bar.

To save money and conserve resources, you can install preowned cabinets, as the owners of this California kitchen did.

Selling your existing kitchen is also great for the planet and saves on the cost of disposal. “The money can also help toward the cost of a new kitchen,” Berry says. “There are companies that specialize in this.”

Spend on: Durable Materials

If you’re going for new products rather than reclaimed, our experts recommend paying extra for materials that are easy to maintain and will last a long time. Composite or solid stone countertops are a good choice, for example.

Berry suggests purchasing remnants of granite and quartz countertops and using them to have something special made. “It could be a dining table top, a console or a couple of coffee tables. You may pay a little extra for polishing on top, but look what you get,” she says.

Save by: Calculating Carefully

To be able to spend more on quality materials, think about how you can save on things such as delivery charges. “If you can, do your utility room at the same time as your kitchen from the same supplier,” Patey says. “It will save money on delivery, installation and countertops.”

Another way to save is to consider a backsplash in the same finish as your countertops. This will often work out to be much cheaper than other backsplash materials and it can be installed at the same time as the countertops, which also saves time and money, Patey says.

“Also, always go for wider cabinets over narrower for both kitchen and utility,” he adds. “Fewer wide cabinets are not only more useful, they’re cheaper per linear [foot].”

A knowledgeable kitchen designer will be able to guide you through the choices that suit your needs. “We know the right questions to ask to ensure you buy only what you need and what you’ll use,” Berry says. “Talking through the features and benefits of every appliance, fixture and fitting avoids overbuying.”

Spend on: Good Design and Installation

A kitchen is a huge purchase, so don’t be scared to walk into a kitchen studio, even if it looks intimidating, Berry says.

Holland agrees. “It always pays to get a designer’s eye and input. They will consider how you and your family live and make the best use of the space to ensure the investment will bring maximum benefit.”

Source: Houzz

Sellers: Don’t Wait Until Spring To Make Your Move

Fri, 21 Jan 2022 18:18:11 GMT

As you plan out your goals for the year, moving up to your dream home may top the list. But, how do you know when to make your move? You want to time it just right so you can get the most out of the sale of your current house. You also want to know you’re making a good investment when you buy your new home. What you may not realize is, that opportunity to get the best of both worlds is already here.

You don’t want to wait until spring to spring into action. The current market conditions make this winter an ideal time to move. Here’s why.

1. The Number of Homes on the Market Is Still Low

Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market than there are homes available, and that means buyers are eagerly waiting for your house. Listing your house now makes it the center of attention. As a seller, that means when it’s priced correctly, you can expect it to sell quickly and get multiple strong offers this season. Just remember, experts project more inventory will come to market as we move through the winter months. The realtor.com 2022 forecast says this:

“After years of declining, the inventory of homes for sale is finally expected to rebound from all-time lows.”

Selling now may help you maximize the return on your investment before your house has to face more competition from other sellers.

2. Your Equity Is Growing in Record Amounts

3. While Rising, Mortgage Rates Are Still Historically Low

In January of last year, mortgage rates hit the lowest point ever recorded. Today, rates are starting to rise, but that doesn’t mean you’ve missed out on locking in a low rate. Current mortgage rates are still far below what they’ve been in recent decades:

In the 2000s, the average mortgage rate was 6.27%

In the 1990s, the average rate was 8.12%

Even with mortgage rates rising above 3%, they’re still worth taking advantage of. You just want to do so sooner rather than later. Experts are projecting rates will continue to rise throughout this year, and when they do, it’ll cost you more to purchase your next home.

4. Home Prices Are Going To Keep Rising with Time

According to industry leaders, home prices will also continue appreciating this year. While experts are forecasting more moderate home price growth than last year, it’s important to note prices will still be moving in an upward direction throughout 2022.

What does that mean for you? If you’re selling so you can move into a bigger home or downsize to the home of your dreams, you want to consider moving now before rates and prices rise further. If you’re ready, you have an opportunity to get ahead of the curve by purchasing your next home before rates and prices climb higher.

Bottom Line

If you’re considering selling to move up or downsize, this may be your moment, especially with today’s low mortgage rates and limited inventory. Reach out to a local real estate professional today to get set up for homebuying success this year.

Source: Keeping Current Matters

How Much Do You Need for Your Down Payment?

Mon, 03 Jan 2022 19:58:30 GMT

As you set out on your homebuying journey, you likely have a plan in place, and you’re working on saving for your purchase. But do you know how much you actually need for your down payment?

If you think you have to put 20% down, you may have set your goal based on a common misconception. Freddie Mac says :

“The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.”

Unless specified by your loan type or lender, it’s typically not required to put 20% down . According to the Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) , the median down payment hasn’t been over 20% since 2005. It may sound surprising, but today, that number is only 13%. And it’s even lower for first-time homebuyers, whose median down payment is only 7% (see graph below):

What Does This Mean for You?

While a down payment of 20% or more does have benefits , the typical buyer is putting far less down. That’s good news for you because it means you could be closer to your homebuying dream than you realize.

If you’re interested in learning more about low down payment options, there are several places to go. There are programs for qualified buyers with down payments as low as 3.5%. There are also options like VA loans and USDA loans with no down payment requirements for qualified applicants.

To understand your options, you need to do your homework. If you’re interested in learning more about down payment assistance programs, information is available through sites like downpaymentresource.com . Be sure to also work with a real estate advisor from the start to learn what you may qualify for in the homebuying process.

Bottom Line

Remember: a 20% down payment isn’t always required. If you want to purchase a home this year, reach out to a trusted real estate professional to start the conversation and explore your down payment options.

Source: Keeping Current Matters

9 Charming Towns In South Carolina That Could Star In A Hallmark Christmas Movie

Tue, 21 Dec 2021 01:19:36 GMT

South Carolina is rich in history, beautiful beaches, friendly inhabitants, and many other good things, but snow is not among them. However, the lack of white precipitation in no way dampens the Christmas spirit in South Carolina ’s towns, nor does it make those towns less worthy of Hallmark Christmas movie town status.

In the same way, each town has its own look, feel, and story; each also has its own individual Christmas vibe. With so many delightful destinations from which to choose, deciding among them is impossible. But here is a small sampling of shining South Carolina towns where all your Hallmark Christmas movie dreams can come true.

1. Greenville

America’s friendliest town, Greenville, ratchets up the welcoming warmth and hospitality at Christmas. Twinkling tree-lined sidewalks on Main Street. Santa gliding down the street in his motorized sleigh (a converted 1993 Ford Aerostar). Ice skaters doing some gliding of their own at a mini replica of Rockefeller Center. These are a few of Greenville’s favorite things, and the Hallmark movie style happenings just keep on coming.

Christmas carolers in the streets, dozens of giant brightly decorated trees at local hotels for the annual Festival of Trees competition, as well as a community Hanukkah celebration and Menorah Lighting create a full holiday experience. Of course, Greenville holds a parade and a Kringle Holiday Market featuring artisan vendors, rides, entertainment, visits with Santa, food, and a biergarten at Fluor Field baseball stadium.

Pro Tip: Stay at the Westin 4 Diamond Poinsett Hotel. In front of the building stands a statue of South Carolinian, Joel Poinsett, who brought a certain popular Christmas plant to America.

2. Aiken

A visit to Aiken is a joy any time of year, but during the holidays, this charming equestrian town becomes the ideal spot to star in a Hallmark Christmas movie. Even the horses trot into the holiday spirit during the Hoofbeats And Christmas Carols Parade through downtown. Horses and carriages, as well as dogs walking their humans, create a festive mood, with community caroling following the parade.

Santa at the Depot gives the little ones the chance to tell him how good they’ve been at the Aiken Visitors Center and Train Museum with festive holiday decorations, music, and a special gift for each child.

The annual Aiken Jaycees Christmas parade, Night of 1,000 Lights, and a leisurely ramble through brightly lit garden paths at the Annual Christmas in Hopelands event bring locals and visitors together to celebrate the warmth and joy of the holidays. More such opportunities can be found at the Christmas Craft Show and Christmas Crafts at the Farmers Market, where shopping and camaraderie go hand in hand.

3. McCormick

For a pretty town with a population of less than 3,000, McCormick makes the holiday season shine with big-time celebrating, just like in a Hallmark Christmas movie.

To help everyone get into Hallmark movie mode, the 2021 Holiday on Main (HOM) Christmas Parade has as its theme “Cultivating a Hallmark Christmas.” Of course, Santa is primed and ready for fun and photos.

The Holiday Market at the Cotton Gin, featuring local and regional artisans selling unique handcrafted creations, as well as the Festival of Trees at the Grist Mill make excellent use of McCormick’s historical sites.

Santa and his elves assist in the tree lighting ceremony. And everyone is counting the days to the Chamber of Commerce Cookie Walk. A $10 advance ticket purchase buys over 25 individual cookies or baked items from participating local businesses.

Pro Tip: You can download a digital version of the HOM brochure and flyers.

4. Myrtle Beach

Who says you can’t have a Hallmark Christmas at the beach? Certainly Santa doesn’t, and neither do the Myrtle Beach locals and visitors who make Christmas merry in this coastal town.

Begin with Winter Wonderland at The Beach, a holiday event featuring a covered outdoor ice-skating rink, a walk-through lights experience, and other holiday happenings at the Burroughs and Chapin Pavilion Place. Then take in the magnificent display of The Great Christmas Light Show, where you can drive through over 2 million sparkling lights at the North Myrtle Beach Park and Sports Complex.

The Christmas Show of the South, a Myrtle Beach tradition, brings the warm spirit of Christmas to life with music, comedy, and dance.

5. Murrells Inlet

One of the oldest and smallest towns on the Grand Strand, Murrells Inlet was once a quiet fishing village. Today, it is a popular spot for vacationers. But during the holidays, Murrells Inlet emits a definite Hallmark Christmas movie vibe.

The highlight of the season is Nights of a Thousand Candles at Brookgreen Gardens, a wondrous extravaganza of over 2,800 hand-lit candles and countless sparkling lights illuminating the magnificent sculpture gardens. Visitors stroll the pathways, marveling at the seasonal lighting and decorations. Each evening, guests can enjoy the Lighting of the Trees at 6:45 p.m. at the Leonard Pavilion.

At the annual Santa Crawl on the MarshWalk, revelers meander the boardwalk along a natural saltwater estuary, enjoying beverages and dinner specials at MarshWalk restaurants. MarshWalk is also the location for the annual Christmas Parade.

Pro Tip: Myrtle Beach lies 20 minutes from Murrells Inlet, making a double dose of holiday fun a realistic goal.

6. Manning

Quiet streets lined with stately oaks and antebellum homes make historic Manning a delight to visit. Located approximately 65 miles from South Carolina’s capital of Columbia, this picturesque town could star in a Hallmark Christmas movie.

Manning may not necessarily be a beehive of organized activity during the holidays, but the town is brightly illuminated, lovingly decorated, and full of warmth and whimsy. It’s the ideal location for a relaxed, unhurried holiday.

Every year, Manning’s residents gather to enjoy the Parade of Lights, which rolls through town spreading cheer right after Thanksgiving. Lighted trees cast their merry glow on Manning until early in the New Year.

“Don’t Get Your Tinsel in a Tangle” is the Carolina Dance Academy’s annual Christmas spectacular. The festive evening begins with an energetic gymnastics program and concludes with a lively dance performance.

7. Abbeville

The delightful little town of Abbeville knows how to think big. It’s home to the Abbeville Opera House and Parson’s Mountain Recreation Area. Abbeville also knows how to put on the kind of holiday celebration that would fit into any Hallmark Christmas movie.

This town goes all out to support local businesses, especially during the holidays. Handmade for the Holidays is an arts and crafts festival featuring items produced by local vendors. Christmas Market is a 2-day open house, family-friendly event at Crate and Quill, featuring holiday shopping, live Christmas music in the courtyard, and sweet treats.

The Abbeville Annual Christmas Tree Lighting involves more than flipping a switch. Holiday entertainment, hot cocoa, and cookies, all provided by local businesses, infuse the event with warmth and cheer.

The friendly folks of Abbeville look forward to their annual Breakfast with Santa, a traditional hometown Christmas parade, the Cookie Walk, and the Ugly Christmas Sweater Wine Walk. Wouldn’t you?

8. Pendleton

4 miles from the college town of Clemson, Pendleton feels like a different world. Life moves at a slower pace, no one is a stranger, and the town’s history is fascinating. So, the transformation into a Hallmark Christmas movie town for the holidays is, like Pendleton itself, smooth and gentle.

Every weekend from late November to mid-December finds Pendleton residents at the Christkindlmarkt, a quaint, European-style Christmas Market on the town’s historic Village Green. Important holiday shopping becomes less stressful amid the bright, cheerful sights, sounds, and smells of the market. A live, 40-foot Christmas tree watches over shoppers as they purchase original hand-crafted ornaments, indulge in local treats, and sip holiday beverages.

Locals turn out in force for the annual Christmas Parade and the tree lighting in the square. No grinch in his right mind would even dream of trying to steal Christmas from Pendleton.

Pro Tip: Drop into Mama Rae’s Ice Cream Shoppe for a special Christmas hot chocolate decked out with whipped cream and two candy canes arranged in the shape of a heart.

9. Rock Hill

The town of Rock Hill can keep visitors busy for days, especially during the holidays. Old Town magically transforms into ChristmasVille, an award-winning holiday village and outdoor art festival that makes for excellent Hallmark Christmas movie material.

Locals and visitors engage in over 70 Christmas-themed events that keep them in the Christmas spirit. Horse-drawn carriage rides, carolers, a gingerbread house making contest, children’s activities with Santa, and ice skating, are only a few of the many delights individuals and families can enjoy.

The festival is held in honor of Vernon Grant, whose magical art graced many children’s books. However, he is best known for his creation of SNAP! CRACKLE! and POP! characters for Kellogg’s Rice Krispies cereal brand. Vernon Grant is still an important figure in his former home of Rock Hill. His charming illustrations of gnomes, elves, and Santa make their cheery appearance throughout the festival.

Source: Travel Awaits

Distressed Properties: High Risk, High Reward—And Right for You?

Mon, 13 Dec 2021 21:15:22 GMT

Are you looking to save some money? Do you need a property and don’t mind doing some repairs to get you started? Do you want to start investing in property? Well, look no further—distressed properties might be just what you need.

What is a distressed property?

To better understand this, let’s examine how a property gets to a state of foreclosure.

An individual wants to buy a house, so they will approach mortgage companies or financial institutions to get a loan. After the loan is approved, it is the individual’s responsibility to ensure that they meet the regular payment agreement that they made with the mortgagee.

However, if the homeowner fails to meet the agreement, the mortgagee or lender will want to get back the money they have provided to the homeowner. This process is what we refer to as foreclosure or repossession. This can happen for many reasons, like a divorce or bankruptcy.

There are also instances where houses are distressed because of the state of the property—that is, old homes that need repairs or buildings that are mid-construction and were halted because the owners ran out of money and weren’t in a position to complete the construction.

REOs are bank-owned properties that have already been foreclosed and are siphoning money from the banks that own them. Owners of these properties are very motivated to sell because they want them to stop costing them money.

Short sale properties are those whose owners are often in financial distress, can’t afford the mortgage payments and lack the assets to pay off the loan, and are willing to sell the property for a discount—less than the amount due on a mortgage. This can be a good way to flip a house and sell or rent it out for a profit.

And that’s exactly what distressed properties are. They are homes that are for sale not because the owner wants to sell but because of pre-foreclosure, foreclosure, repossession, real estate owned by a lender, (REO) or personal financial reasons. These homes are usually offered up through an auction in which the highest bidder gets the property.

These houses are usually offered way below market value. Basically, all parties are trying to cut their losses.

If you consider the actual cost that goes into trying to sell something for a good price, lenders want to make sure they don’t have to invest a ridiculous amount of money or time trying to get that extra dollar. That means low prices. All they want to do is get at least some of their money back.

This also means that these properties usually have work to be done. Most likely, the previous owner wasn’t able to carry out maintenance on the property because they were short on funds. Unfortunately, some homes really look pretty awful and need a lot of work.

Risks of buying a distressed property

Buying a distressed property can be a great real estate investment, allowing you to net a large profit off of a property that’s listed below market value. But although there are plenty of benefits that come with it, there are also risks.

The biggest one is buying the property as-is. Distressed properties usually come in bad shape and are sold as they are without a proper inspection. Plus, you can’t often negotiate for things like repairs or additions, as the seller doesn’t have much wiggle room in their budget. You’ll have to take on that maintenance yourself.

You may also be outbid at an auction for the property, a likely scenario for a distressed property. These properties are often a good value, which can mean more competition from other buyers.

Purchasing delays can be an issue as well. The purchasing process takes a relatively long time since the sale is a little less straightforward when working with a seller who is in debt on their mortgage. It can take months to finalize, and you may have to jump through hoops along the way to help the sale go through.

Why invest in distressed real estate?

Consider the disadvantages associated with building a new property, such as the time, permits, construction loans, and legal implications.

With the purchase of a distressed property, your core focus is on your ability to get a good bargain and maximize your investment returns.

Here are three reasons to invest in distressed real estate.

1. Lower prices

Due to the nature of distressed properties, it is easy to get a property below market value. You can easily buy distressed properties all across the Midwest from 10 to 20 cents on the dollar, which is one-third of the cost of building a new property—although be mindful that you may have to seek these properties out yourself.

This is because homeowners are usually in a position where they really want to sell—fast. That places you in a better position to get a bargain. Combining the position you’re in with negotiation talent is guaranteed to save you a lot of money going forward. If you’re looking to build a portfolio, that’s exactly where you want to be.

2. Financial gain

Distressed properties create opportunities for real estate investors to make a profit. Because the prices are below market value, your margins are simply a lot better with distressed properties.

That also means that you’re taking on far less risk. If you can buy two properties for the price of one, not being able to sell one of them might not be much of a problem. You’ll just hold on to it longer. Having less financial pressure comes with more freedom.

The law of home equity states that as the value of your property grows, your equity increases. With the purchase of distressed properties, you are instantly in a position to get yourself some great financial gain because you have bought a house for a value lower than its market value. Your net worth will hopefully increase dramatically after you’ve renovated the property.

3. Fewer delays for approvals

When building new properties, you are exposed to outside influences that cause delays and usually lower your margins. Some good examples include when the approval on your construction plans does not go in your favor, when your developer was in charge of getting the permit but didn’t do it in time, or when your contractor made some error that resulted in a poorly built property. Situations of this nature make a bad situation worse. And the worst part is that they can all occur with the same property. Sometimes this will force you to make decisions that will seriously affect your bottom line.

This is not the case when you purchase a distressed home. The previous owners likely have already gone through this process, so you will not need to worry about getting government approvals and avoiding setbacks.

But best of all is the fact that you don’t have to deal with delay after delay. Sure, you’ll have someone renovate the property. But the complexity of getting an entire home built is far greater than doing some renovations. This has a major impact on the timelines you’re working with, so you’ll be making more money faster with distressed homes.

How do I find a distressed property?

The best place to start looking for distressed properties is at the bank or other financial institutions. Usually, they don’t have the time to advertise and seek out real estate agents or companies to market their properties.

You can also take a look at foreclosed properties from government-owned institutions, such as the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs, or the Internal Revenue Services Department (IRS), to name a few. Usually, these institutions will advertise their properties in the newspapers.

Another way to find distressed properties is to do a simple Google search for properties in your area that are on auction or up for foreclosure. You can look for online public records at the county courthouse, which records and stores real estate transactions for property in that county. Make sure to check Craigslist daily, and try sending out some yellow letters.

Finally, it is always best to contact an experienced real estate investor specializing in this area to guide and advise you on your purchase. Apart from the fact that successful real estate investors have access to all kinds of lists, you can take advantage of their networks and connections to banks, mortgage companies, and real estate agencies.

Can you finance a distressed property?

Financing any investment property can be difficult. Distressed properties are even more difficult to finance, but it can be done.

One option is to get a conventional mortgage if the home is in livable condition. To get one, you will need to prove to the bank that you are trustworthy, meaning you must have excellent credit, low debt, and a solid income. You must also be able to provide a large down payment.

Non-traditional lenders may be more likely to finance distressed properties. You can look to friends and family who may be willing to loan you money, or you can look to private groups and clubs interested in real estate and/or investing.

If you have a good track record as a real estate investor, you may be able to get a short-term hard money loan, sometimes known as a “fix-and-flip” loan. You won’t need as high of a credit score or down payment for this option, but the interest rates are higher than those of conventional loans.

If none of these options work for you, you can try to use the equity of your primary residence as collateral to put in an offer and then purchase a distressed property. You can do this through refinancing, which will allow you to borrow more than what you owe on your property and use the excess money to invest in a distressed property.

Now that you have all the facts, you are in a better position to own your first distressed home in the future. Often the difference between a successful real estate mogul and a failure is not one’s better abilities or ideas but the courage to bet on ideas, take a calculated risk, and act.

Most of all, it will come down to your ability to sniff out the perfect opportunity. That means the highest chances of getting your bid accepted, the right location, and manageable renovations. All these things factor into what makes a great deal or not.

It’s important to remember that you’re looking for an undervalued property—not just a cheap one. You can buy a $60,000 property for $10,000 and still end up with a loss. Some deals just never make sense, and if you understand that, you’ll love what distressed properties have to offer.

Source: Bigger Pockets Blog

Correct Use of Power Strips This Christmas

Mon, 06 Dec 2021 15:09:43 GMT

A power strip is your friend when it comes to Christmas decorations, but use strips safely to avoid power interruptions and fires.

The typical household circuit can handle about 1400 watts. One power strip with six or eight outlets in use can well exceed the circuit capacity.

Desktop computers can use 60 to 300 watts per hour. Gamers will soak up power at the top end while regular school or work assignments may use the lower end, with 5 to 10 watts for sleep mode.

Inkjet printers will use 30 to 50 watts when printing. Commercial printers will use 300 to 500.

Never plug two powerstrips into the same wall outlet.

Replace any strip that feels warm to the touch.

Never daisy-chain power strips. In professional settings, that violates both OSHA rules and international fire standards. It is a fire hazard.

Don't use power strips outdoors. There are extension cords designed for outdoor use, but power strips should go indoors.

Turn off a strip when not in use.

6 Things You Should Never Plug into a Power Strip

Powerful appliances should never be plugged into a power strip and you might be surprised which appliances count.

Space heater: Portable heaters cycle on and off, with each on-cycle drawing a surge of current. If plugged into a power strip, this surge is usually causes an overload, which can cause a fire.
Microwave: Requires a dedicated wall outlet.
Slow cooker: These common appliances may not draw surges of power, but they use power continuously over long periods. Plug them into wall outlets instead.
Toaster and toaster oven: Those red-hot coils inside don't heat up without a lot of current, which can quickly overload a power strip.
Hairdryer, curling iron: These draw significant amperage to get hot -- too much for a power strip.
Coffee maker: All it does is heat up water. But it does it with a lot of amps. It is misleadingly simple. Always plug into the wall.

Renovating A House Checklist: Where to Start

Mon, 08 Nov 2021 15:54:03 GMT

Home renovations provide homeowners with the opportunity to take their house and turn it into a home they’ve always dreamed of – all while increasing the home value. And, with the change of seasons, maybe you’ve decided it’s time for something new. Whether you recently purchased an older home, or have been living in the same house for years, you can make your dream home a reality with the help of this renovating a house checklist.

Renovating a house can be a scary concept – where do you start? Who do you call? But before you get overwhelmed, we’ve created a checklist to help answer all your questions and guide you through the home renovation process. From strategizing a plan and budgeting, to hiring a professional and putting the finishing touches on your home, read on to see just how you can make renovating a house that much simpler.

Renovating a house checklist: Where to begin

As you research what to expect during a home renovation, you should also outline your ideas and plans – maybe you’re interested in adding an office or redoing the kitchen, the possibilities are endless. Make sure you know what your goal is for the renovation and keep in mind that the project likely won’t be completed all at once.

To determine your budget, prioritize which projects are on the top of your list and what you can live without. Need help figuring out which renovations you want? Consider popular home trends in your area to help narrow down your options. Make sure to budget for any problems that could arise during the initial structure check as well as any problems during demolition. Creating a budget buffer can give you peace of mind if there are any unexpected issues or surprises down the road. Once you have established your budget, you can begin creating a reasonable time frame to help you stick to a schedule. After planning your renovation, you will need to make sure you have the appropriate home improvement permits depending on the type of projects you have in mind.

Take this time to look over your plans and decide which professionals to hire when renovating your house. From structural engineers and plumbers, to architects and contractors, there are countless professionals who can help you achieve your home renovation goals.

1) Begin with the fundamentals

For a total house renovation, the rule of thumb is simple: make sure the structure is solid before starting on major projects. This includes checking the foundation, electrical systems, plumbing, flooring, and roofing. Older houses are more likely to develop these problems, but it’s important to check all your bases no matter how old your house is. There are ways for you to confirm the condition of your home’s structure, but when you do start to see issues arise, it is essential that you include a structural engineer to help resolve any problems.

Foundation

For signs of foundation issues look for doors and windows not shutting properly or cracks and gaps along the edges of the wall and floor. If you suspect any issues with the foundation, a structural engineer can help diagnose the problem and create a plan to address any repairs.

Plumbing and electrical

You should also have your plumbing and electrical systems checked before beginning any renovations. Both plumbing and electrical systems should be up to date so they’re equipped to handle modern day appliances and piping. If your house was built before the 1960’s, it is a good idea to swap out your pipes and wires, making your home more reliable for years to come.

Roofing

No matter where you live, a strong and protective roof is essential. Knowing when you need it repaired vs. replaced is something you should pay attention to. If the roof is on the newer side, watch for loose shingles and repair as needed. Roof damage that may result in a complete replacement includes wall and ceiling stains from leaks and trapped moisture, attic leaks from damaged shingles, exterior paint peeling from trapped moisture, and cracked shingles.

2) Interior demolition

Now, it’s time to start designing your interior. If you planned on demolition, you have two options: DIY or connect with a contractor. Your budget will help determine if DIY or working with a professional is the right option.

Constructing the inside of your home can mean totally reinventing your living space. Take down walls to open your space up or reconstruct your home’s floor plan and construct new walls. If you upgraded your electrical systems or plumbing, your walls will already be open so now is a good time to insulate and close them with drywall. Starting interior demolition room-by-room will help keep the renovation organized. Here are four interior changes to consider adding to your renovating a house checklist:

Built-ins

Believe it or not, built-ins can provide value to a home. Built-ins are custom-made, permanent storage that adds character to your home. They come in many different forms – shelving, dining nooks, closets and much more. Not only are built-ins a great way to save space, but they can help create a unique and long-lasting feature in your home.

Windows

Upgrading windows can not only enhance your curb appeal, but can improve your home’s efficiency. That way you can enjoy the seasons through crystal-clear windows, while also investing in your home’s value.

Cabinets

Although mostly a cosmetic touch, upgrading your cabinets can enhance the design of any space – kitchen, bathroom, or hallway. If new cabinets are not in your budget, a fresh coat of paint can go a long way to bring a fresh look to a newly remodeled home.

Flooring

Flooring plays a huge role in your home renovation. Should you opt for tiles or carpet? Real wood or vinyl? These are questions that play into your home renovation goal. Maybe you have a pet that likes to scratch up carpet? You may want to opt for tile. Maybe you live in a city with cold winters like Vancouver, BC, or Buffalo, NY? Carpet may be a better fit. Deciding what flooring fits best with your needs will help you answer these important remodeling questions.

3) Home furnishings

Now you’re on the home stretch. Home furnishings will tie in everything you have accomplished during this renovation process and bring your home to life. New wall paint, plant additions, pillows, and rugs can make all the difference. Once you incorporate these new pieces in your home, implementing basic feng shui home design into your space helps ensure your home brings you positive energy.

The commanding position is one of the most important feng shui principles to help align your home. With this position, you are not directly in line with the door, but are facing it. Just make sure your furniture is never positioned so your back is turned to the door. This simple trick can boost your energy and give you the style you’ve been looking for.

After your home is furnished, the renovation process is complete. Take a deep breath and appreciate your accomplishments. There are many different routes to go about renovating, but we hope this renovating a house checklist will help you start on the right path towards creating your dream home.

Source: Redfin

It’s Not Too Late to Join the Short-Term Rental Investing Game

Mon, 01 Nov 2021 21:40:19 GMT

It’s never been a better time to be a short-term rental investor.

Short-term rental investing, otherwise known as Airbnb or VRBO hosting, has been one of the hottest strategies for real estate investors over the last several years—and with good reason. It has a lot to offer.

What’s more, new data from AirDNA, a company that provides data to the short-term rental industry, suggests that right now—even in this crazy market—could be the best time ever to invest in short-term rentals.

What is STR?

If you’re unfamiliar with short-term rental (STR), it’s an investment strategy where you buy a property, but instead of renting it out to long-term tenants, you offer the property up on Airbnb, VRBO, or any other vacation rental website.

The benefits of STR

This strategy has grown really popular recently, and it’s easy to see why. First, it offers something that is pretty tough to find right now: cash flow.

Cash flow is becoming increasingly hard to get, primarily because home prices are rising so much faster than rents. But STRs still offer great cash flow potential. Of course, you need to have a good property in a good market—just like with any investment—but STRs have proven to offer cash flow even in markets that typically don’t have cash flow, like Denver, Austin, and Seattle.

Second, the markets that tend to do well for STRs are also high-appreciation markets. Think about where people go on vacation, like ski towns, lake houses, or big cities like Miami. There are markets that have grown immensely over the last several years. STRs offer the options to get cash flow and be in great markets that have big potential for property appreciation.

So there’s good reason why a lot of investors are getting into this strategy—and it looks likely that things are going to get even better.

How is the STR market performing?

To be honest, at the outset of COVID I was pretty worried about my STR. I thought that travel would come to a grinding halt and the property would sit vacant for months. Instead, the opposite happened, and COVID actually accelerated the existing trend of people shifting away from hotels and toward STRs.

To back this up, I got some data from AirDNA. Looking at this data, there are two terms you need to know: 1) occupancy, which is how many nights in a month your STR is rented out, and 2) average daily rate (ADR), which is basically the average amount that guests pay to rent your property.

To figure out your cash flow, multiply your occupancy by your average daily rate. As an investor, you want both your occupancy rate and your ADR to be high. The data from AirDNA shows that both are up significantly over the last few years.

Occupancy is up

The chart below shows that 2021 has been the best month for occupancy on record—or at least dating back to 2018. So despite all of the restrictions and limits on travel during the pandemic, the demand for short-term rentals is up significantly over both 2020 and 2019 numbers. Look at the difference between the yellow and green lines throughout this year. Demand and occupancy are up.

What’s even bigger news is that the average daily rate across the U.S. is up 22% when comparing July 2021 to July 2019. That is enormous growth.

If you put these things together—increased occupancy plus huge growth in ADR—that means a lot more cash flow for STR investors.

Small cities and rural areas are popular

Of course, not all STRs are the same. It’s no surprise that some types of properties and some markets are going to fare better than others—and AirDNA has provided some data to help shed light on what’s going on.

The chart below shows that there is a big difference in demand between location types. Make sure to note the y axis on this chart. You’ll see that 0% is right in the middle, so the lines below that all saw declines and the lines above saw growth.

To me, the big takeaway here is that small cities and rural towns are exploding along with destinations and resorts, while large cities have really taken a hit. Those large cities are recovering, but they have yet to return to pre-COVID levels. On the other hand, small city demand remains very high and is way over 2019 levels. As an investor who owns an STR in a mountain town, I can confirm from my own experience that demand is super high.

Larger units are in demand

Guests are also choosing larger units. The following chart shows that big units are way up, while shared and private rooms remain down. This is common sense to me given the world right now—no one wants to share a room during a pandemic, and many families have been renting big houses for longer periods of time as a way to get everyone together. The data suggests that as of now, the bigger the better, and I think this trend will likely continue.

Finally, the data shows us that demand is highest for luxury properties. Maybe people are spending their extra money on vacations more than they did in the past. Maybe more people are finding value in staying in a nice place after a year being at home. Regardless of the reason, the data is clear: The more upscale the property, the higher the demand growth.

A bright future for STRs

All told, this data is super encouraging for STR investors. We’ve seen that occupancy rates are up and ADR is up, meaning there is more cash flow coming into the market. We’ve also learned that large, luxurious properties in small cities or vacation destinations are performing the best right now. So whether you’re a current STR investor or you’re looking to get into the market, these could be sweet spots to look at for your next purchase.

If you’re thinking about making an STR investment, I have two resources for you. First is AirDNA, which honestly has the best STR data on the market; I use it myself and it has been extremely valuable. Second, I put together a guide to analyzing STRs earlier this summer that you can find on BiggerPockets—it’s super useful if you’re getting into the short-term rental game, so make sure to check that out.

Source: Bigger Pockets Blog

8 Tips for Achieving Maximum Coziness

Tue, 19 Oct 2021 00:26:05 GMT

Gray skies don’t have to mean a drab indoor life.

As winter plods along, you may wish you could just hibernate until spring — and that may be more true than ever this year. But there is, indeed, joy to be found in the quieter months of the year.

While the trend may have come and gone in the U.S., the art of hygge, that feeling of being ultra-cozy and content, is just part of everyday life in Denmark.

The thing is, the Danes know how to thrive in winter. You might already know they’re the happiest people on earth, but did you know a lot of them attribute their unseasonably sunny outlook to their home- and self-care habits?

When it’s cold and rainy out, and you’ve been stuck inside for — who knows how long? — binging the next series on your “recommended” list might feel like the most appealing option. But if you’d like mix things up, here are a few ideas to channel the Danes and make an intentionally delightful day out of drab weather.

1. Set the mood

Candles are a key ingredient to a supremely comfortable atmosphere. Not only do they provide beautiful, soft lighting, they also add warmth and scent to your space.

Tip: Choose seasonal scents to inspire celebration, or choose a summery scent, such as coconut and floral, to help combat the seasonal blues.

2. Bake something

Comfort food is central to the cozy experience. But it doesn’t just begin when you eat the cake (or cookies or pie) — it begins when you imagine the creation.

Leaf through your favorite cookbooks or browse some eye-candy baking sites, choose your ingredients carefully, and mix them with care, taking your time to enjoy the task at hand. It’s just a bonus that your baking will flood your space with delicious smells — and taste good too.

Tip: Reach out to a friend or family member whose recipes deserve appreciation, and ask if they could show you how to work out their spectacular skills. You can set up a video call if you’re not able to meet in person.

3. Add texture

Plush throws, sheepskins and cushions make for a much more inviting space. Cover your surfaces in as many luxurious fabrics and pillows as you can find and snuggle down.

Tip: Feel free to go faux, or if cost prohibits, find inexpensive alternatives.

4. Get out the board games

Pull your partner or kids away from their screens and gather around the table for some old-fashioned fun. Whether you go for the competitive strategy variety or laugh-out-loud social games, there are options for everyone. For the minimalists among us, even a deck of cards can offer plenty of entertainment.

Tip: Looking for remote gaming options? There are many online group gaming apps, and many people have come up with creative ways to play the classics via Zoom as well. Start up a game and maintain your connections year-round!

5. Perfect your hot drink game

Hot cocoa, hot toddies, apple cider, mulled wine — pick your poison. Whatever it is, find your own special recipe that is so delicious you can’t wait to show it off. Host a virtual happy hour and share it with family and friends.

Tip: Why, yes, you can put whiskey in those drinks. But it’s usually a good idea to perfect a mocktail version, too, for those who don’t imbibe.

6. Embrace sweater weather

If you don’t already have a favorite sweater, it’s time to find one. It should be something that makes you feel at home when you slip it on. Cashmere, wool, mohair — anything will do. Whatever you choose, pair it with thick socks!

Tip: Find some beginner books or tutorials and try your hand at knitting, crocheting or weaving, and make your own sweater over the course of the winter. Find an online knitting circle for tips and encouragement.

7. Curate your cold-outside playlist

Make yourself a mix of music that inspires you to do all those things that make you feel absolutely endeared to your space. Put it on shuffle, relax, repeat.

Tip: Instrumentals are classics for a reason — they can work as background for just about anything. When in doubt, most music services have premade playlists, some of which you can filter by mood.

8. Do seasonal activities

Making caramel apples? Check. Working on (or giving up on) your New Year’s resolutions? Check. Canning, puddle jumping, snowball throwing, signs-of-spring spotting? Check!

Tip: Whatever your favorite seasonal activities might be, create a plan to make them happen — put it on your calendar, set a reminder on your phone, or find an “accountability partner” (a friend or family member who will give you the nudge you need), and feel the magic of even the most blah weather wash over you.

Source: Zillow Porchlight

4 Tips To Prep for Your Home Sale This Fall

Mon, 11 Oct 2021 14:09:57 GMT

Even in a hot sellers’ market like today’s in which homes are selling so quickly, it’s still important to make a good first impression on potential buyers. Taking the time upfront to prep your house appropriately can bring in the greatest return on your investment.

Here are four simple tips to make sure you maximize the sale of your house this fall.

1. Price It Right

One of the first things buyers will notice is the price of your house. That’s why it’s important to price it right. Your goal in pricing your house is to draw attention from competing buyers and let bidding wars push the final sales price up. Pricing your house too high to begin with could put you at a disadvantage by discouraging buyers from making an offer.

Your trusted real estate advisor can help you find the price for your home that reflects the current market value. Lean on your agent to help you with this crucial first step.

2. Keep It Clean

It may sound simple, but keeping your house clean is key to making sure it gets the attention it deserve s. As realtor.com says in the Home Selling Checklist:

“When selling your home, it’s important to keep everything tidy for buyers. . . . Remember to take special care with the bathroom, making sure the tile, counters, shower, and floors shine.”

Before each buyer visits, assess your space and determine what needs your attention. Wash the dishes, make the beds, and put away any toys. Doing these simple things can reduce any potential distractions for buyers.

3. Make It Easy To Visit

Giving buyers the opportunity to see your house on their schedule can be a true game-changer. Buyers are less likely to make an offer if it’s difficult to plan a tour or they can’t easily fit it into their schedule. Making your house available as often as possible helps create opportunities for more buyers to fall in love with your house.

Rest assured your trusted real estate advisor will keep your health and safety top of mind when buyers tour your home. Agents use the latest guidance to stay up to date on any protocols and sanitization recommendations.

4. Help Buyers Feel at Home

Finally, it’s important for buyers to see all the possible ways they can make your house their next home. As the realtor.com article puts it:

“The goal is to create a blank canvas on which buyers can project their own visions of living there, and loving it.”

An easy first step to create this blank canvas is removing personal items – pictures, awards, and sentimental belongings – from your space. If you’re unsure what should be packed away and what can stay, consult your trusted real estate advisor. Spending the time on this step can pay off in the long run, as the 2021 Profile of Home Staging from the National Association of Realtors notes:

“Eighteen percent of sellers’ agents said home staging increased the dollar value of a residence between 6% and 10%.”

Bottom Line

To make the most of today’s sellers’ market, avoid the temptation to skip over the essential preparation steps. Connect with a trusted real estate advisor today to discuss all the ways you can maximize your home sale.

Source: Keeping Current Matters

Why Do Homebuyers and Sellers Rarely Meet? Here’s What Can Go Wrong

Mon, 27 Sep 2021 16:51:45 GMT

In real estate transactions, homebuyers rarely meet home sellers before reaching the closing table. So have you ever wondered why?

As a general rule, real estate agents frown on buyers having face time with sellers because things can go wrong. A whole lot of things, in fact. Even seemingly innocent comments could land buyers or sellers in hot water—and jeopardize the entire real estate deal.

Yet despite these risks, buyers and sellers do sometimes meet—whether by chance or intention—and this encounter can have some surprising benefits, that is if it’s done right. Here’s a rundown of the pitfalls to avoid, plus what buyers and sellers could gain.

How homebuyers can benefit from meeting sellers

You can ask questions

First and foremost, homebuyers who meet their sellers have an opportunity to get their questions about the home answered.

“This is a great opportunity for buyers to directly ask the sellers their burning questions, like ‘Does the property have any quirks I should know about?'” says Dan Duval, principal broker/partner of the Elevated Companies in Boston. “It’s an especially great time to ask questions that your real estate agent may not be able to answer easily.”

Buyers might also benefit from hearing some insider tips about their new neighborhood. Sellers can provide homebuyers with key resources that will make settling in easier.

“The seller can sometimes offer valuable information to the buyer,” says Trey Van Tuyl, an agent with Discover Homes Miami. “For instance, they can share recommendations for their favorite nearby restaurants or talk about how great the neighbors are.”

You can persuade sellers to accept your offer (if they haven’t already)

If sellers have not decided yet on whether to sell their house to you, having a face-to-face meet-and-greet can tip the scales in your favor.

“The sellers could walk away from the meeting feeling like the right people will be moving into their home,” explains Jim Armstrong, an agent with JG Real Estate in Philadelphia. “You may help them feel like they’ve found someone who will enjoy their home as much as they have.”

In particular, if the home seller has multiple offers, buyers who go out of their way to meet them could gain an edge.

How homebuyers can benefit from meeting sellers

You leave room for misunderstandings

Communication between buyers and sellers can sometimes leave plenty of room for misunderstandings that can ultimately harm the negotiations.

“One side could unintentionally say something to offend the other,” Armstrong warns. “For example, a prospective buyer could blurt out something that they want to change in the home. If the seller put a lot of hard work into that feature, this innocent comment may not go over well.”

If you haven’t yet reached the closing table, even the smallest misunderstanding can cause the deal to fall through.

You may find out something negative about the home

In addition, there’s always the chance that homebuyers could learn something negative about the home. While that could work in your favor if you haven’t yet submitted an offer or closed the deal, it may not be such a good thing if you’re already under contract.

“I had a seller who just happened to cross paths with their buyer at the home inspection,” says Jason Gelios with Community Choice Realty in Birmingham, MI. “The seller inadvertently said something that made the buyer focus on the amount of traffic coming down the street.”

This seller slip-up caused the buyer to walk away from the property. Fortunately, that buyer was still in the contingency period and could take back the earnest money deposit; but in many cases, a buyer could end up forfeiting that money.

How homebuyers can benefit from meeting sellers

You feel better about leaving your home behind

Selling a home is an emotional experience. If selling your home feels bittersweet, meeting the buyers may help to assuage some of your worries by making it clear that your home is in good hands.

“For sellers, having the opportunity to meet buyers face to face may make the process feel more personal and comforting, especially if they feel a connection with the new buyers,” explains Duval.

Louise Phillips Forbes, a New York city broker with Brown Harris Stevens, adds that when there is a connection between the buyer and the seller, both parties can go out of their way to make the transaction a pleasant experience.

“I once worked with owners who left behind an expensive painting for the purchasers because they had connected over a shared loved of a place where they both like to vacation,” she says.

Risks sellers face when meeting buyers

A Fair Housing Act violation

Under the Fair Housing Act, sellers are not allowed to discriminate against buyers on the basis of race, religion, national origin, sex, sexual orientation, gender identity, familial status, or disability. Unfortunately, even the most seemingly innocuous comment could unintentionally raise red flags in a high-stress buying situation.

“Even a comment about the local churches, synagogues, or neighborhood’s diversity can be misconstrued as looking for a certain type of person,” warns Hillary Landau, a real estate agent with Compass in Westchester, NY.

Violating this act has far bigger consequences than just hurting someone’s feelings. As the seller, if your buyers feel that they’ve been discriminated against, you could unintentionally find yourself on the receiving end of a lawsuit.

“The less a seller knows about a buyer, aside from their financials, the less trouble they can get into,” Landau advises.

You may not like the buyers
There’s always a chance that you simply may not like the buyers when you meet them. If this happens, it can be extremely hard to stay levelheaded during the rest of the transaction—or you may end up regretting your decision to sell them the house.

“When a buyer and seller meet during the transaction, it makes things messier,” admits Michele Harrington, the chief operating officer of First Team Real Estate in Irvine, CA. “If they don’t get along, the negotiations become much more difficult. Both parties may start digging their heels in over little details.”

How home sellers and buyers can safely meet

Now that you know more about the pros and cons of meeting the other party in your real estate transaction, the next step is to learn how to make this meeting go smoothly. If you do decide to get together before you sit across from each other at the closing table, follow these tips to ensure that your meeting stays on track.

Have both real estate agents present

At its core, a real estate agent’s job is to act as the intermediary in the negotiations. This is one situation where you don’t want to be left without a professional negotiator in your corner. With that in mind, make sure that both parties’ agents are present when you meet and let them be the ones to lead the conversation.

Stick to talking about the house

Although it’s nice to make small talk, having side conversations can increase the risk of a misunderstanding between you. Keeping the conversation limited to negotiations and practical information about the property will help lower the risk of misinterpretation and accidental bias.

Be at your best

It almost goes without saying, but this is a time to be on your best behavior. While you’re in the discussion, keep things as polite and cordial as possible. If you have a problem with something that is said, the best thing to do is to discuss it with your agent after the meeting rather than in front of the other party.

Source: Realtor

How to Install a Kitchen Faucet

Mon, 30 Aug 2021 18:02:08 GMT

Tired of staring at your old faucet? Installing a new one is easy! (No, really.)

If you’ve been washing your hands a lot lately, you might have started paying extra attention to your faucet. Does it drip? Is the chrome flaking off? Is it dated?

Plumbing projects can be intimidating, because no one wants to accidentally flood their entire home. But installing a new kitchen faucet truly is a DIY that anyone can handle.

As long as you work slowly and follow the directions, you can add a beautiful faucet to your kitchen with zero emergency calls to the plumber.

Supplies:

New kitchen faucet (and the installation manual)
Adjustable wrench
Flashlight
Bucket
Rags
Cleaner
Screwdriver
Towels
Teflon tape (optional)

Before purchasing a new faucet, take note of your current setup. Look under the sink to see how many holes yours has (usually between one and four).

This determines the type of faucet that will work with your sink. A single-hole faucet can be installed in a three- or four-hole sink by adding a deck plate, but not vice versa.

Step 1

Remove everything from under your sink. This DIY takes place in tight quarters, so you want to make it as roomy as possible. Also, be sure to keep a towel nearby for any water drips.

Step 2

Turn off the water supply lines to the kitchen faucet. There will be a cold water and hot water valve underneath your kitchen sink.

Turn each of these water valves clockwise until you can’t turn them anymore. Then turn on your faucet and make sure water doesn’t come out.

Keep the faucet in the “on” position to relieve any water pressure.

Step 3

Now that the water is safely off, you can unhook the hot and cold water supply lines. You will need a wrench for this step. Simply loosen them (counterclockwise) until they unhook.

A little water may drip out, which is totally normal. Just keep your bucket and rags handy.

Step 4

Unscrew your old kitchen faucet from underneath the sink.

Every faucet is different, so yours may look a bit different than this one. Ours had a gold ring that we just had to loosen with our hands. Others might be connected with a nut. If that’s the case, you’ll have to use your wrench again.

Step 5

Pull your old faucet through the top of the kitchen sink and out.

Step 6

Clean up any gross residue that was hiding underneath your old kitchen faucet with your towel. This is the time to get it nice and clean, so put some muscle into it!

Step 7

Grab the manual for your new faucet, because you’re going to need it! Since every faucet is different, they all come with their own set of directions. But we’ll walk you through the general steps.

Feed your new kitchen faucet into the hole at the top of your sink. You may want to enlist a buddy to help keep the top secure as you venture underneath the sink.

Step 8

Secure your faucet from underneath the sink. Ours required tightening a few screws.

Step 9

Attach your cold and hot lines to their valves, and make sure they are nice and snug with your wrench.

You may want to wrap your threaded pipes with some Teflon tape to make sure your seal is tight and your connections remain leak-free!

Step 10

Turn your water supply valves on … slowly! Then check the faucet to make sure both your hot and cold water are working.

That’s it. Seriously easy, right?!

You can elevate the look of your kitchen in under an hour, and it will only cost you the price of a new faucet.

Source: Zillow Porchlight

Migration in the First Half of 2021

Tue, 17 Aug 2021 02:31:32 GMT

A year into the pandemic, Americans continue to move to suburbs and small cities

Our previous study indicated that suburbs and small cities were clearly the winners of migration during the first year of the pandemic. With one in three adults working remotely and schools offering virtual learning, people sought out bigger houses with bigger yards for their kids to play in and office space for them to work. But, where do people move a year into the pandemic? Are suburbs and small cities gaining even more movers? As companies look beyond the pandemic, many are deciding whether to bring employees back to offices or allow them to work remotely and move away permanently.

Thus, to better understand the latest migration trends, we updated our analysis conducted last December using the United States Postal Service® change-of-address data. The current analysis covers relocations across the United States during the period January through June of 2021.

Findings

Overall, fewer people moved in the first half of 2021 compared to a year earlier. That’s normal. Remember that when the pandemic hit our country last March, millions of people "panic-moved," leaving their homes in urban centers. Nevertheless, people are no longer rushing to relocate due to the pandemic as millions of Americans are already vaccinated. Moreover, the current study responds to the question of whether or not people are permanently leaving their city homes. According to the data, it seems that people continue to move away from urban centers while small towns and rural areas attract even more movers.

Small towns gain even more people

Net migration gains by urbanization level

Urban-rural differences in migration have always been analyzed, as they provide insight about potential population shifts across the country. Any evolving pattern of migratory behavior can have many policy implications for the country. There has been ample talk about people moving away from big cities and showing interest in less crowded areas. Indeed, even a year after the pandemic, people continue to move to small cities as many of them telework. The National Association of REALTORS® estimated the share of inbound moves by urbanization level.

To begin with, we are seeing that urban areas continue to lose people. A share of inbound moves lower than 50% translates to more people leaving than moving to the area for the specific period. According to the data, urban areas had more people moving out than in while the share of inbound moves fell even further in 2021 compared to a year earlier. Specifically, the share of inbound moves for urban areas was 48.5% in the first six months of 2021 compared to 48.6% during the same period a year earlier.

While more people are leaving urban areas, we are seeing that rural areas had the highest share of inbound moves in 2021 at 54.6% followed by micropolitan areas1 with a low commuting flow (53.8%) and small towns with a high commuting flow (53.2%). Meanwhile, micropolitan areas and small towns are gaining even more movers compared to a year earlier. Specifically, the share of inbound moves rose from 52.3% to 53.8% in micropolitan areas with low commuting flow; and, from 52.5% to 53.2% in small towns with high commuting flow. While home prices reach new record highs, affordability seems to be one of the primary motivations for this trend. A huge draw for these smaller towns is that the cost of housing consumes a much smaller chunk of people's salaries as they are able to find bigger homes for their families. See here how inbound compare to outbound moves by urbanization level:

Net migration gains by metropolitan level

After comparing inflows and outflows for each metropolitan area, we also identified the metro areas with the most migration gains in the first half of 2021. As the data shows, when people don’t move to more affordable areas, they choose to move to a home near the ocean or with a nice mountain view. For instance, Barnstable Town – one of the top vacation home areas - had 63% inbound moves although the median home price is $570,000. The same with the Portland metro area in Maine.

We also compared the inbound moves in the first half of 2021 with those of a year earlier. We actually are seeing that big cities such as New York, San Francisco, and Boston were among the areas with the most year-over-year inbound gains. Nevertheless, bear in mind that a year earlier people were fleeing from these big cities due to the pandemic. Thus, year-over-year comparisons of inbound moves may be a misleading indicator for migration trends due to the base effect as a relatively smaller number of people moved to these areas last year. Apparently, as many companies have already required their employees to go back to the office, more people are moving back to big cities.

We went one step further and analyzed where families, individuals and also businesses are moving in 2021. What did we find? As expected, families favor small cities versus individuals who are moving to urban centers.

Families moved to small cities

Nearly 30% of the inbound moves in small towns and micropolitan centers made by a family compared to 24% in metropolitan areas. Meanwhile, rural areas are attracting more families as the share of inbound moves rose to 22.8% in 2021 from 22.0% a year earlier.

At the local level, Florida seems to be the favorite destination for families, areas such as Naples, Cape Coral and Sarasota. Among the following metro areas, more than 30% of the inbound moves came from families. While 62% of homebuyers are married couples,2 this has many implications about the local real estate market. To put it simply, the following areas are expected to see an uptick of home sales as people typically buy a home when they start a family because they want to raise their kids in a stable and safe environment. The good news is that construction is picking up with most of these areas building more homes than in the last 20 years. For instance, in the Sarasota, FL metro area, they are currently issuing twice the single-family building permits that they issued on average in the last 20 years. In the Provo Orem, UT metro area the number of single-family building permits is 150% above the historical average. As a result, these areas are more affordable with great opportunities for families to purchase a home.

Individuals moved to large metropolitan areas

As the data shows, 70% of the inbound movers in urban centers were individuals, while fewer individuals moved to a smaller city in the first half of 2021 compared to the same period in 2020. The table below shows the share of inbound moves for individuals by urbanization level. We are seeing that their share dropped in every area which is smaller or with a lower commuting flow than an urban area. Thus, urban centers are still the most attractive areas for individuals.

At the local level, San Francisco, Denver, Seattle, and San Jose were some of the most popular destinations for individuals. In the following large metro areas, more than 70% of the inbound movers were individuals. As homebuyers need to spend more than $5,000 every month for their home loan in San Francisco and San Jose, families who are priced out from these markets are moving to more affordable areas.

Businesses moved away from urban centers

As people move to suburbs and small cities, businesses do too. After comparing inflows and outflows for businesses by urbanization level, we are seeing that urban centers experienced migration losses. This means that more businesses decided to move out from an urban center than to move in.

This urban-rural migration trend has undoubtedly had an impact on businesses across the country. Since a large number of office workers continue to telework and move away from urban centers, there is a significant decrease in traffic to downtown business areas. Restaurants and shops who serve downtown workers still report a decline in customers. As a result, many of these businesses decided to move away from downtowns and relocate to suburbs and rural areas. According to the data, the share of inbound moves of businesses was 47% in urban centers compared to 65% in small towns and rural areas. With both residents and businesses moving out of the urban areas, it seems that new business opportunities will present themselves in small and rural areas.

At the local level, we are seeing that most businesses moved to North Carolina, South Carolina, Ohio, Nebraska, Florida, Connecticut, and Tennessee. It seems that business owners decided to relocate to areas where there is a low cost of living and a corporate–friendly tax structure that could help them save money post-pandemic. In the meantime, for example, Charlotte, NC; Jacksonville, FL; and Riverside, CA are among the biggest financial centers across the country. As residents and businesses move to the following areas, expect local real estate activity to be even stronger this year.

While COVID-19 cases are currently rising due to the spread of Delta variant, people will likely continue to limit their social interactions, especially families with unvaccinated members. It would be very interesting to see how this urban-rural migration trend will evolve in the second half of 2021. Stay tuned.

1 According to the U.S. Census, each micropolitan statistical area must have at least one urban cluster of at least 10,000 but less than 50,000 population.

2 2021 Profile of Home Buyers and Sellers Survey, NAR

Source: National Association of Realtors

Beat the Stink: 4 Reasons Your Kitchen Sink Smells Awful—and How To Fix It

Mon, 09 Aug 2021 17:03:47 GMT

Stop us if this sounds familiar: You’re sitting in your kitchen, and you notice an icky odor. Maybe it smells like rotting food, or even raw sewage. But how is that possible? You’ve done the dishes. You’ve taken out the trash. Your kitchen, you thought, was clean.

Don’t despair! Smelly kitchens plague us all from time to time—and the culprit is usually in your sink.

Whether you’ve been pouring chemicals down your drain in the hope of killing whatever’s living there or recently detected a stench, we’ve got you covered. Here are four reasons your sink stinks, and all the expert tips to make the bad smell go away.

1. There’s buildup in your drain pipe

One of the biggest culprits when it comes to a stinky sink is having lots of buildup in your drain pipe. This includes things like bits of food and grease, and all the bacteria that’s been growing around it.

“Drains will talk to you,” says Matt O’Rourke, president of Z Plumberz. “If there’s something wrong with your drainpipe, you will hear bubbling and gurgling or visually see the backup from a slow drain.”

To unclog your drainpipe (and get rid of that nasty smell), O’Rourke recommends using a Zip It to clean the pipe, then maintaining it with an enzyme treatment.

“Enzyme treatments are better than harsh chemicals because they’re living organic bacteria that feeds off biodegradable waste and turns it back into water,” says O’Rourke.

2. Your garbage disposal is gross

If you have a garbage disposal and haven’t cleaned it in a while, then there’s a good chance it’s the culprit behind your smelly sink. But to know for sure, it’s time to do a bit of detective work.

“To diagnose a dirty garbage disposal, first make sure the disposal is turned off, then use a flashlight and look down the drain,” says O’Rourke. “If the disposal is dirty, you will see gunk, mold, or food particles, and likely smell a foul odor.”

You can treat these bad smells and gooey gunk by running warm water in your sink while pouring a half-cup baking soda down the drain. If you have a dishwasher, run it with detergent but without any dishes inside. This will allow the cleaning product to reach your garbage disposal and disinfect any nasty stuff that’s been hiding out.

One final thing to keep in mind about garbage disposals is that they don’t last forever: O’Rourke recommends replacing yours every eight years.

3. You have a dry P-trap

If you just got back from vacation only to notice a bad smell coming from the sink, worry not—it might just be that your P-trap is dry, and this is one plumbing problem that’s very easy to fix.

“If you look underneath any sink in your home, you should notice a U-shaped bend in the pipe,” says Jack Pruitt, brand manager for Benjamin Franklin Plumbing. “That’s the water trap, and if you ever accidentally wash your wedding ring down the drain, that’s hopefully where you’ll find it. But the real reason it exists is to hold water at all times, creating a water barrier between your home and all the icky things lurking farther down the pipe.”

But if that water barrier evaporates (like if you haven’t run the water in a while), sewer smells can make their way through the pipes.

“All you need to do is run the water for several seconds to refill the trap, then wait a little while to see if the odor goes away,” says Pruitt. Voila!

The real trouble is when you notice that sewer smell coming from multiple drains.

“If the water traps are full and the odor is coming from everywhere, you might have a bigger problem deeper in the sewer system,” Pruitt says, “in which case you’ll need to call a plumber to investigate the problem.”

4. Your vent pipe is clogged

“A vent pipe is part of your sink’s plumbing system and serves to direct sewer gases away from the home,” says Pruitt. “Usually, these vent pipes lead upward and out of the roof of your home to carry the scents out, but because of their location, they can become clogged with animal nests, snow, and other elements of nature. When this happens, the smelly sewer gas is forced back down into your drains, eventually seeping out through your sink and causing the stench.”

If you’re able to safely get eyes on your vent pipe (which will be somewhere on the roof), you might be able to check for blockage yourself. But if you have concerns about access, be sure to call in a professional for help.

Source: Realtor.com

How Long Does an Appraisal Take and What to Expect?

Mon, 19 Jul 2021 20:48:59 GMT

Congratulations! You’ve gotten preapproved for a home mortgage, found your dream home, negotiated an agreeable sales price, successfully maneuvered through the home inspection process, and finally, you have a fully executed sales contract in hand for your new house.

If you’re a first-time homebuyer, you may not realize all the steps that go into buying a new home. Some of them, like the home inspection and obtaining the real estate appraisal, can be stressful. So, what should you expect with this next step in the appraisal process? And how long does an appraisal take?

Let’s go over some appraisal basics to help you understand what is involved in one of the last steps in your home buying journey.

What is an appraisal, and why do I need one?

An appraisal is an objective estimate of a home’s value. It is provided by a licensed professional real estate appraiser.

You need an appraisal for several reasons. First, an appraisal is needed primarily for your mortgage lender. By providing an estimate of the fair market value of your home, the appraisal assures the lender they are not lending more money for a piece of property than it’s actually worth. Also, the appraisal helps protect you, it assures that you’re not paying more for the home than you should.

How long does an appraisal take?

The home appraiser, on average, will visit a property for 1-3 hours, however, you most likely will not get back the final appraisal report for one to two weeks. The amount of time it takes for the appraiser to complete the appraisal process varies depending on the size and complexity of the house. For example, a 10,000 square foot property with a detached carriage house, horse barn, and lots of land in Dallas, TX will take longer to appraise than a three-bedroom, two-bathroom 1,900 square foot house in Seattle, WA.

Remember, once the appraiser has done the physical inspection of the property, he or she then needs to begin the work of locating comparable properties and eventually writing up the final report. From the initial inspection of the property to obtaining a final report can take a week to two for a typical property, depending on how busy the appraisers are and what the housing market is doing in your area at the time.

Who orders the appraisal and when?

Your mortgage company or lender orders the appraisal once all the inspections are complete and inspection repair negotiations have been finalized (if there are any). The home appraisal cost is usually between $300 to $400 or more, depending upon the size and complexity of the property, and the appraisal is paid for by the buyer.

What happens during an appraisal?

During an appraisal, the appraiser visits the home where they thoroughly inspect the property, inside and out. Unlike the home inspector who tests all of the systems within the home and recommends any needed repairs, the appraiser is interested in determining the market value of the property as it compares to similar homes in the area.

The appraiser does this by gathering information needed to complete a Uniform Residential Appraisal Report. This form is quite detailed and requires the appraiser to measure each room and the lot the house sits on. They also take pictures of every room in the home and the exterior, including the yard.

They have to note, among other things, how old the house is, where it is located, how big it is, and what the structure is made of. They also determine whether the layout of the house is optimally functional, the number of bedrooms and bathrooms, and the overall condition of the interior, roof, and siding.

Once the appraiser has compiled all the necessary information from your property, he will obtain information on nearby homes. It is important that these houses are comparable to your property. He will use all of this information to determine a fair market value of the property, complete the Appraisal Report and forward the report to your lender so you can move forward in the closing process.

And in case you’re wondering, the buyer is typically not in attendance on the day of the appraisal. The seller can be present during the appraisal, but often their agent steps in and takes their place. This way, the agent is available to answer any questions that may come up while the appraiser is conducting the inspection of the property.

3 possible outcomes of a home appraisal

When the appraisal comes in, the fair market value assessed by the appraiser could go one of three ways.

1. The appraisal comes in lower than the agreed-upon purchase price

You have several options if the appraised value comes in lower than the agreed-upon sale price.

You can request an appraisal review. An appraisal review is when another licensed appraiser prepares an independent report using the same elements found in a standard appraisal. The purpose is for the reviewer to comment on the accuracy and completeness of the initial appraisal.

You could also offer to make up the difference by bringing any additional amount needed to closing. For example, if the agreed-upon purchase price is $225,000 but the appraised value comes in at $215,000, you would pay an additional $10,000 in closing costs to make up the difference. Some closing costs are tax-deductible.

Another option would be to ask the seller to lower the purchase price by whatever amount fits your financial situation best. This includes having the seller drop the purchase price to match the appraised value, in other words, the seller would take $10,000 off the agreed purchase price.

You could try negotiating with the seller. You may choose to increase the amount of cash you bring to closing by $5,000 and ask that the seller drop the purchase price by $5,000. This would make up for the $10,000 difference between the purchase price and the appraised value.

A final option would be for you to walk away. If you and the seller are unable to agree on a way to settle the issue concerning the low appraised value, and you signed an appraisal contingency, you have the option to withdraw your offer without being penalized.

2. The appraisal comes in higher than the agreed-upon purchase price

If the appraised value of the property is higher than the purchase price, that’s great news. You’ve just bought a home with some equity already built in. An example of this would be if the agreed-upon purchase price is $225,000 but the appraised value is $230,000. In that scenario, you would have $5,000 worth of equity before you even make your first payment. And luckily for you as the homebuyer, the seller can’t demand more money, and the sale of the home will move forward.

3. The appraisal matches the agreed-upon purchase price exactly?

Appraised values often match the amount of the agreed-upon purchase price. If that is the case in your buying situation, then everything is fine and no additional negotiations are needed.

Getting an appraisal will be a requirement if you are obtaining a loan to purchase your dream home. And although it can sometimes be a rocky part of buying a home, remember, once you successfully maneuver past the appraisal process, you can move on to working with a title company to finish out the closing process and finally enjoy your new home.

Source: Redfin

Why Home Office Space Is More Desirable Than Ever

Tue, 13 Jul 2021 03:48:30 GMT

For years, we’ve all heard about the most desirable home features buyers are looking for, from upgraded kitchens to remodeled bathrooms, master suites, and more. The latest on the hotlist, however, might surprise you: home offices.

In a recent article by George Ratiu, Senior Economist with realtor.com , he notes how listings with an office are selling quickly:

“As more companies have been embracing remote work, buyers are driving demand for houses with home offices higher. Homes featuring the term ‘office’ are selling 9 days faster than the overall housing inventory.”

Today, more and more people are working remotely, and that’s not just because the current pandemic is prompting businesses to operate virtually. According to the same piece and the most recent data available, the number of employees working at home was fairly steady from 1997 – 2004 but has been climbing ever since (see graph below):

Clearly, the work-from-home population is growing, and technology is making it possible. Just last month, according to an article on Think Google, searches for telecommuting hit an all-time high, and that’s certainly no surprise given our current situation.

People all over the U.S. are looking for answers on how to be most effective at home, and it’s making the ideal workspace more and more desirable. In fact, best practices from seasoned work-from-home professionals, like Chris Anderson, Senior Account Executive at HousingWire , tout that having a dedicated space is a must for productivity.

With today’s increasing demand for home offices, it’s a great feature to highlight within your listing if you’re selling a house that may meet this growing need. From bright natural light with large windows to built-in bookshelves or a quiet and secluded atmosphere, whatever makes your office space shine is worth mentioning to buyers when you’re ready to list your house.

Ratiu concludes:

“For housing, the continued increase in the share of remote workers implies that demand for homes with offices or dedicated work spaces will continue to increase. The current coronavirus pandemic offers a dramatic indication of the fact that companies and employees will have to develop plans and clearer policies for remote work beyond the current crisis.”

Bottom Line

Remote work may become more widely accepted as this current crisis teaches businesses throughout the country what it takes to function virtually. So, what seems like a business challenge today may be more of the norm tomorrow. With that in mind, if you have a home office, your house may be more desirable to buyers than you think.

Source: Keeping Current Matters

Myrtle Beach's Top Dog Friendly Restaurants

Mon, 28 Jun 2021 19:02:43 GMT

Picture this - you're on vacation in Myrtle Beach, and you brought Fido along for the adventure. Man's best friend - why wouldn't you bring him along? He's been by your side for years and never asks for anything in return except your love.

You just have one question - Where can I go to dinner and take Fido with me? I want him to share in the fun and excitement too!

Well, we did a little digging, and we've found some options!

Nola'z Dueling Piano Bar

Come for the Bayou vibe and the music, but make sure you stay for their bread pudding! And the owner Edward is always happy to have your canine come for a visit too!! Be sure to ask for their puppy menu, they serve a fresh and yummy bowl of rice, ground beef, and eggs, just for your trusted pal!!

6 Summer Maintenance Tasks That Could Save You Cash—Have You Done Them All?

Tue, 22 Jun 2021 00:35:46 GMT

After what feels like the longest ever stretch of months stuck indoors, summer—glorious summer—is finally upon us. But before you get too comfy and curl up in a hammock with a delicious blended beverage, know that there are a few things you really should check off your to-do list first.

Yes, that’s right: We hate to be a drag, but in between barbecues and beach days, you still need to stay on top of maintenance around the home. Otherwise you might find yourself with big problems down the line—and big repair costs.

But don’t worry: We’re here to help you prioritize the tasks that’ll keep things running smoothly through the scorching months ahead, and get you back to your summer soirees ASAP.

1. Power-wash your house

“If most of your entertaining will be done outdoors, now is a great time to power-wash the deck, pool area, patio, driveways, and the front porch of your home for guests,” says Jeff Beck, CEO of Leaf Home Solutions.

Power washing has also been known to pay off big-time when it comes time to sell your house. According to the National Association of Realtors®, you can expect to add $10,000 to $15,000 to the sales price after pressure-washing exterior siding.

DIY: You can rent a power washer for between $70 and $300 a day, Beck says. But proceed with caution.

“Do your research before power-washing, as it comes with some safety concerns or can lead to property damage if the wrong pressure is used on the wrong materials,” he says.

Call in the pros: If you’re uneasy about blasting the house yourself, call in a professional. You can expect to spend between about $200 and $400 .

2. Give your air conditioner a checkup

Your air conditioner works overtime in the summer, so now’s the time to make sure everything is running smoothly. It’s best to be proactive and check on the AC before you have an issue so that you aren’t sweltering while you try to diagnose a problem.

DIY : Make sure you’re regularly switching out disposable filters that fill up with pet and human gunk like skin cells and hair, says Mark Dawson, chief operating officer of Mister Sparky , One Hour Heating & Air Conditioning , and Benjamin Franklin Plumbing . The condenser unit also needs to be cleaned occasionally to prevent mold, mildew, and performance issues. If you’re handy, you can tackle this task yourself.

“Homeowners need to drain the pan below the condenser and clear all lines to allow excess water pulled from the air to drain out,” Beck says.

Call in the pros: You can also call in a technician to clean out the condenser unit, Dawson says. Prices vary across regions.

Also consider scheduling a yearly air-conditioning tuneup ( expect to spend between $75 and $200 ) to make sure your unit is operating at peak performance.

“Heating and air-conditioning technicians are able to catch issues that may turn into bigger problems if not handled right away,” Dawson says.

3. Spruce up your home’s exterior

If something looks a little off on the outside, it probably needs your attention.

“Check your landscaping for overgrown trees and shrubs, especially if they are hanging over the home, and trim them down,” says Gregg Hicks, vice president of Modernize.com .

“Summer is also a good time to inspect and clean your siding,” says Hicks. “Check for storm damage, pollen, sap, and other signs of wear and tear, and clean and repair as needed.”

DIY: In addition to trimming the foliage around your house, now is the time to show your lawn some love.

“Fertilize and dethatch your lawn to promote the circulation of air, water, and nutrients to the soil,” says Kevin Busch, vice president of operations for Mr. Handyman . You can choose from special rakes, machines, or even liquids for dethatching the lawn.

Call in the pros : If you need to do some serious trimming, call in the tree professionals. Expect to pay a couple hundred dollars on average— the price is determined by the size of the tree .

4. Replace or fix up exterior doors

If something looks a little off on the outside, it probably needs your attention.

“Check your landscaping for overgrown trees and shrubs, especially if they are hanging over the home, and trim them down,” says Gregg Hicks, vice president of Modernize.com .

“Summer is also a good time to inspect and clean your siding,” says Hicks. “Check for storm damage, pollen, sap, and other signs of wear and tear, and clean and repair as needed.”

DIY: In addition to trimming the foliage around your house, now is the time to show your lawn some love.

Call in the pros : If you need to do some serious trimming, call in the tree professionals. Expect to pay a couple hundred dollars on average— the price is determined by the size of the tree .

5. Check on ceiling fans and windows

This is one home maintenance task you can easily knock out in an hour or two: Make sure your ceiling fans and windows are able to provide optimal cooling throughout the home.

DIY: “Homeowners should clean ceiling fans and change them to a counterclockwise rotation,” Hicks says. “This will help drive cool air toward the floor and cool a room’s temperature. Homeowners should also inspect windows and doors for any leaks, where cool air may be escaping.”

Call in the pros: If your window seals are in need of repair, this could be a DIY task for some homeowners.

“Resealing windows and doors … can help keep cool air in and your energy bills lower,” Hicks says. But resealing is an intermediate project , so consider calling a professional if you’re not comfortable with it.

6. Keep an eye on the roof and gutters after storms

Warmer temperatures usher in unpredictable weather, which can mean storm damage to your home.

Monitor your gutters and roof to quickly detect—and hopefully avoid—costly damage.

“Debris can quickly fill your gutters or clutter your roof, so it’s important to assess any damage and clean your gutters after each storm,” Beck says.

DIY: Manually cleaning the gutters is a task you can accomplish over a weekend with a ladder, a spotter for safety, and a few garbage bags.

Call in the pros: Some homeowners prefer to leave roof work to the pros.

“Typical gutter cleaning can range from under $100 to several hundred depending on home size, the accessibility of your gutters, and the severity of debris,” Beck says.

If you need to replace gutters, that “can cost anywhere from $180 to $6,000 on average, depending on the home size and gutter material,” Hicks adds. “Installing gutter guards can help homeowners avoid a full gutter replacement down the road and can cost as little as $200 as a DIY project to $1,000 or more for heavier-duty guards.”

Source: Realtor.com

What Are the Pros and Cons of Buying a House in Cash?

Mon, 14 Jun 2021 18:51:39 GMT

The last year, the real estate market has become extremely competitive. With less inventory and more bidding wars, the best offer is usually the one that comes in all cash. But what does that look like for you as the cash buyer? Here's a quick read on the pros and cons of buying a property with cash instead of financing:

If you ever watch real estate shows, you’ve probably heard the term “all-cash buyer.” It’s usually thrown out as a way to sweeten a deal, but what’s the reality about buying a house in cash? The world isn’t a TV show, and there are pros and cons to buying a house with cash as opposed to getting a mortgage.

Buying a House with Cash Is Increasingly Uncommon

If you’re in a position where you could buy a house with cash, you’re in the minority. With the median home sales price in the mid-300,000s, it’s not realistic for most people. Around 87% of home buyers finance according to the National Association of Realtors’ 2020 Profile of Home Buyers and Sellers.

If you do have enough saved to buy a home outright, that doesn’t mean you’re necessarily showing up with a suitcase full of cash.

What it does mean is that you’re not getting a loan. You might have savings, you may sell another property, or you could have investments you’re going to use.

The Upsides of Paying Cash

If you can pay cash for a home, there are undoubtedly some benefits, including:

You’re a more attractive buyer to sellers. This is a big one right now. There is a huge amount of demand for homes in many parts of the country and a limited inventory. This means bidding wars. One way to be more competitive when you make an offer is to pay cash. That’s preferable to sellers because then they don’t have to worry about what happens if your mortgage financing falls through. A cash-only transaction is also usually faster, so you can get to the closing quicker, which sellers tend to like.
When you buy a house in cash, you don’t have to worry about a mortgage payment of course, but you’re also not going to be paying the interest and fees that come with a home loan.
Cash buyers have lower closing costs because you’re not paying the fees associated with a mortgage like lender fees and loan origination fees.
A faster closing isn’t just a benefit for the seller. It’s advantageous for the buyer as well. You might be able to close on a home within a week of your offer being accepted. If you buy with a mortgage, it can take a month or more.
Once you close, the home really is yours. You don’t have the fear of not being able to make the payments and subsequently losing your home.

The Downsides of Paying Cash

There are a few cons of paying cash for a home that you do have to think about as well.

Your money isn’t liquid. If you’re using all of your cash to pay for a house, it’s not going to be easy to access it when you need it.
You could make better returns by putting your money into another type of investment as opposed to putting it all into a house.
You won’t be able to take advantage of mortgage tax deductions. With itemized deductions, you can deduct the interest paid on the first $750,000 of your mortgage, so your taxable income goes down.

If you’re weighing whether or not to buy a house in cash, it can be a good idea to talk to a financial professional first. They can go over all the different scenarios and how that choice could affect you for better or worse.

Of course, if you’d still have money in savings or investments after buying a house with cash, then it might make the decision easier.

Source: Realty Times

Did You Know? World's #1 Mini Golf in North Myrtle Beach!

Mon, 10 May 2021 20:03:28 GMT

So you're in Myrtle Beach for vacation with family or friends, and you want to have fun outside in the sun. But You want to play mini-golf in the Mini-Golf Capital of THE WORLD - which means we have THE MOST mini-golf courses in the world! Where should you go? How do you choose?

Well if you're looking for THE BEST course, look to North Myrtle Beach. Hawaiian Rumble boasts not only the #1 course in the world, but it also is the home to the Mini-Golf Masters Tournament, and is listed in Popular Mechanics as the #2 Most Dastardly Mini Golf Course in AMERICA

Being a golf fanatic who watches every PGA event I can, and being our favorite activity, my wife and I took them up on their challenge this weekend. And yes, it's hard! This course has the sneakiest hills, bumps, dips, and curves that I've ever seen! Ignore the fact that I got a hole in one, we'll call that luck! Because there's one hole that is literally named "TROUBLE" and they're not lying! Every hole was a unique twist on what looked pretty straight-forward.

And here's where you find what really makes this place unique. We all have been to the typical course - turf greens, rivers, the whole thing. But these folks, they went all out! They have a waterfall you pass under going to one of the holes on the back 9, REAL FRUITING and flowering trees, but best of all, an "erupting" volcano! Be sure to stay on your toes with that volcano, though, because if you're about to putt, that could shake you to your core and ruin your shot!

So if you're looking for a real teaser of a mini-golf experience, head to Hawaiian Rumble Mini-Golf in North Myrtle Beach, and be sure to also check out their other location just down the block, Hawaiian Village!

Hawaiian Rumble
3210 Hwy 17 South
North Myrtle Beach, SC 29582

Hawaiian Village
4205 Hwy 17 South
North Myrtle Beach, SC 29582

6 Handyman Skills Every Flipper Should Master

Mon, 03 May 2021 18:00:27 GMT

As a rehabber, there are some jobs that are worth knowing how to do. Relying on handymen to fix every small problem is expensive—and time-consuming. Why wait for your go-to person’s availability to open up for a tiny repair?

Or perhaps the job is too small to hire out, and you can’t find anyone who will do it. Most contractors don’t want to pick up tiny jobs. Not worth their time. Or maybe you ran out of money due to unforeseen problems. There are a number of reasons why simple repairs become suddenly (and surprisingly) not-so-simple… or just extremely expensive. That’s when it’s extremely handy to be extremely handy.

And don’t worry: Just because you’ve never picked up a hammer before doesn’t mean you can’t perfect these skills. Basic home maintenance is surprisingly simple, although it may look convoluted, complicated, or simply too-hard on first glance. No need to be muscled, either. Anyone can learn 101-level plumbing. Anyone can spackle a hole in the wall. You might even enjoy teaching your kids a few basic how-tos—you might find they enjoy painting walls or helping place tiling. (Maybe skip the electrical until they’re older, though.)

Whatever the case, here are six jobs that are worth knowing how to do.

6 Handyman Skills Everyone Should Master

Whether you’re flipping or renting your properties—or just wanting to up your DIY skills for your own home—mastering these handyman jobs keeps everything running smoothly.

1. Painting

Everyone should be able to paint. Few supplies are needed—and even fewer skills. A paint roller, paint pan, and paint. Perhaps an extending handle if you are on the shorter end of the yardstick. You can paint the bulk of the wall first, then get the edges… or reverse that order, depending on your mood. Personally, I like to get the edges and corners first.

I choose not to use tape to block off edges. I learned how to “cut in” by watching videos on YouTube. ( This one is my favorite.) Too many times, I would tape off the ceiling or edges, only to have the paint lift off when I removed the tape. It is really frustrating painting those edges again, and it doesn’t look nearly as good. The best way to learn how to cut in is to first watch the tutorial, then practice in the corners. They need to be painted anyway. Once you get the hand of it, painting goes really quickly.

Invest in a high-quality angled brush, about 2-1/2? wide. Smaller than that and you have to make too many trips to the paint bucket; larger than that and you start to lose control.

When the edges are done, get out your roller and start rolling. When rolling on textured walls, use a slow but steady movement. Going slower will allow the paint to settle into the deeper parts of the texture, reducing the number of coats you need to apply. A 10 x 10 room can be completed in just a couple of hours.

Pro tip: Buy quality paint. I purchased the cheapest paint I could find when painting my first house, and I ended up needing five coats to cover the color beneath. Fifteen dollars a gallon for the cheap stuff, but I needed five times as much as the high-quality, $30- to $50-a-gallon paint. Buying mis-tinted “oops” paint can save you a lot of money.

2. Basic electric

Chances are good that your new house comes complete with ugly light fixtures. Swapping them out isn’t a whole lot harder than changing light bulbs, and you certainly don’t need a contractors license to do so. Learn how to make these small changes yourself, rather than hiring an expensive electrician for a simple job. While I wouldn’t recommend a complete rewire job on your first try, updating lighting—or even installing a ceiling fan—can be done safely.

The library is full of books explaining how electrical works and outlining the how-to for any electricity-related odd jobs. YouTube is another great source of information. Even better than a book, you can find a step by step video tutorial that you can watch again and again.

I’m sure I’ll hear from the electricians on the site who will say that it is not something to be messed with. They’ve surely got stories about homeowners who burned down their houses doing their own electric. And I’m sure that has happened. So if you aren’t comfortable with doing this kind of work, have someone who is more experienced help you out.

3. Basic plumbing

Plumbers make a lot of money. Back when dinosaurs roamed the earth, plumbing was done with copper pipes, which had to be soldered together. This is definitely a skill I don’t recommend learning on the job. One mistake and the whole house is flooded.

But there is a new sheriff in the plumbing department, and he goes by the name of Sharkbite . I cannot tell you what sort of engineering magic goes into the Sharkbite fittings, but they have made copper pipe repair lightning fast. You literally take the pipe and shove it into the fitting. Turn the water back on and no leaks. It is ridiculous how easy it is. Of course, you will pay for the convenience—but still not as much as hiring a plumber.

Even better, supply lines can be plumbed with PEX (in most cities), which is far easier and cheaper than copper. PEX stands for cross-linked polyethylene. In reality, if your state allows you to use PEX, it stands for Preposterously Easy X…undertaking (nothing starts with an X). We re-plumbed our entire house using a book from the library and watching YouTube videos when we needed more instruction.

Sinks leak pretty darn often, and it’s not always because your tenants screwed up. Knowing how to handle runny faucets, a funky sprinkler system, or any other basic plumbing maintenance work will save time and money.

4. Tiling

Easily the skill that has benefited us the most is tiling—and it’s unbelievably simple to do. Lay mortar down, put the tile on top. There are nuances to this process, and I highly recommend watching several YouTube videos to see how it is done before you start in on your floor.

Many Home Depot and Lowe’s both offer free tiling classes about once a month. They let you learn with their supplies, showing you the right techniques. There is no limit to how many times you can take the class, either.

My advice: Take your time and use a level. Mix small batches of mortar at first, and don’t be afraid to throw some out if you can’t use it in time.

Additionally, I recommend buying a tile saw and learning how to use it. We paid $70 for our first saw about 10 years ago. Other than replacing the blade once, we haven’t had to do a thing to it. We have used it for more than 1,900 square feet of tile, including ceramic, glass, slate, and travertine.

5. Drywall repair

While hanging drywall from scratch can be an advanced-level DIY skill—bad results can be very obvious—every real estate investor should know how to do basic drywall repair. There’s absolutely no reason to pay your contractor money to repair a hole in the drywall left by an angry tenant (or a rambunctious kid, or a failed attempt at hanging a TV). Patching drywall is simple. And, as always, YouTube is happy to guide you in the right direction.

Keep spackle stocked for the small repairs. Once you know how to quickly patch a nail hole, there’s no need to panic about tenants hanging artwork against your wishes. Bigger holes take a bit more effort, but it’s nothing a handy DIYer can’t manage. You might have to cut out the drywall and go down to the stud in a small area. (Here’s a great Home Depot tutorial .) A saw, some drywall tape, and that ever-so-helpful spackle and you’re in business.

6. Simple carpentry

No one’s expecting you to create a to-order built-in shelving. But understanding the basics of woodworking will go a long way when you want to repair or update molding, attempt a DIY flooring installation or door installation, or patch rotting boards in your properties’ patios. Consider picking up a few basic tools, like a miter saw and a basic crosscut saw.

Plus, there’s a bonus to perfecting basic carpentry: Woodworking is an enjoyable hobby with lots of uses. If you find these simple repairs enjoyable, keep practicing. Soon enough, that built-in bookshelf might be no problem at all—you might even enjoy making furniture and building full decks.

Starting a career as a real estate investor certainly doesn’t require handyman training. Perfect these six easy trade skills, though, and you’ll be able to save significant money on one-time contractor fees. Is the stove misbehaving? Dining room chandelier flickering? Electrical training might help you identify the cause and make simple light repairs.

Source: Bigger Pockets

Regain Your Garage: Simple Tricks for Getting Organized

Thu, 29 Apr 2021 15:25:44 GMT

The outside world can be stressful and uncertain – especially right now. Additionally, our personal priorities pull us in many directions, from work calls and meetings to children’s activities, online schooling, and just the normal rigors of life. That’s why it’s more important than ever that our homes are havens for relaxation, rest, and happiness.

If your house is bursting at the seams, or simply short on storage options, the solution may be as close as your garage. To make the best use of this space, however, you first need to corral its current chaos.

This is, fortunately, a relatively simple task if you incorporate a few good storage ideas. With careful planning and a little effort, you can transform your garage from a messy catchall to an efficient, well-organized household annex.

1. Divide and conquer

First things first: Get rid of anything you no longer use. After you’ve winnowed down the contents of your garage, sort everything into groups. Keep garden tools with garden tools, and sports equipment with sports equipment. Items used together ought to be stored together.

Where possible, place like items into clear plastic containers with lids. It’s fine to use opaque bins, just be sure to label each one. Stackable containers are especially handy. They keep your belongings clean, protect against insects and rodents, increase the amount of usable floor space, and cut down on visual clutter.

2. What goes where?

The efficient use of space partly depends on positioning stored items in a thoughtful, strategic way. Are there certain items you’re likely to need on a regular basis, such as cleaning supplies? If so, store them near the door so you can access them quickly and easily. Stash rarely used or seasonal items, like sleds and skis, in harder-to-reach spots.

3. Off the wall

The key to garage storage and organization is getting things off the floor. Capitalizing on wall space enables you to fit the most into your garage, while keeping it all visible and easy to access. The type of wall storage you choose depends on your storage needs, project budget and personal preferences. Many homeowners opt for one or a combination of the following storage standbys:

Pegboard . A favorite for generations, pegboard is inexpensive and easy to install. Because it can be outfitted with an array of compatible hooks, clamps, bins and shelves, pegboard can be used to store and organize just about anything, as long as the item to be stored isn’t especially heavy.
Open shelving . Whether a wall-mounted track system or a set of stand-alone units, open shelves are affordable, versatile and user-friendly, and they keep everything in plain sight. Plus, depending on their construction, 12- or 16-inch-deep shelves are typically capable of holding heavier items.
Closed cabinetry . If you plan to park your car in the garage, cabinets with doors may be the most desirable option, because closed storage means not having to come face-to-face with paint cans and garbage bags every time you leave or arrive home. Cabinets are available in countless materials and styles, but generally speaking, they are more expensive than other solutions. And because they are unable to accommodate very large items, cabinets are most effective when used in conjunction with another storage system.
Panelized systems . Here, entire walls are covered with specially designed panels that hold any number of companion add-ons, such as hooks and shelves. Unlike pegboard, panelized systems can handle heavier items. But that strength and utility comes at a cost, especially since some proprietary products must be installed by licensed professionals.

4. Look up

For certain infrequently used belongings, the ceiling provides ideal, out-of-the-way storage space. Ladders and seasonal gear can be kept here, hung by clips or straps fastened to the ceiling joists. Or you can take advantage of hoist pulley systems, which cleverly operate like the cords on window blinds. Bear in mind, however, that ceiling storage must be oriented so that it doesn’t interfere with the operation of the garage door.

5. Safety Steps

As you’re organizing your garage, it’s important to keep safety in mind. It’s unsafe to store gasoline and propane in the garage; a single spark could lead to tragedy.

Likewise, if you have children or pets, you should store hazardous materials like fertilizer and pesticides far out of reach. Locked cabinets are a good solution for these toxic materials, and they’re also a smart place to store power tools and sharp implements.

Source: Porchlight

Multimillion-Dollar Amusement Park Breaks Ground in Myrtle Beach

Mon, 30 Nov 2020 15:26:55 GMT

A new amusement park is breaking ground in Myrtle Beach on North Ocean Boulevard between 14th and 15th avenues.

The Funplex Myrtle Beach amusement park will have a tropical theme while featuring seven rides, a walk-up bar, and a restaurant.

What used to be an old parking lot will soon be home to a new entertainment venue Downtown.

Rides will include the tallest, interactive 360° flying jet ride on the market. The tower plane ride is going to be the first one in North America.

“There is only one other one operating in England, and it was just operated this past season,” Williams said.

The Funplex Myrtle Beach’s new bar and restaurant will be called Off-the-Coast Beach Bar and Grill and will face Ocean Boulevard. The two-sided, walk-up bar and restaurant will offer eight domestic and local draft beers, custom frozen drinks and bar and seafood options.

Tight rollercoaster twists and turns will face the shops on the boulevard and the popular Tin Roof bar. “It is small, but the way we have designed it took a long time to make this work,” said Brian Williams, Funplex Myrtle Beach CEO.

While there are more than half a dozen amusement parks in Myrtle Beach, Williams saw a new and novel opportunity with the available space years ago.

“The town has a lot of experience and great attractions there, but as you know there hasn’t been anything significantly new since the sky wheel in terms of new attractions in the area,” Williams said.

After being a work in progress for years, Williams says the new downtown addition could open up opportunities in the future.

“ I think that area, particularly where they are trying to develop things in that area, could be the first step to some great things,” Williams said.

“It will bring a lot of jobs as well, some full-time people, upwards of about 70 to 100 jobs, even though it’s a small footprint just because of the season and how long they are open and everything else.”

The general contractor selected for the new amusement park is family owned and Conway, SC based Chancel HRT, Inc. The architect is Nathan Rapp of Insight Design Architects, LLC with e

The multimillion-dollar project is expected to be complete by early spring.

Source: WBTW News13

How Long Does it Take to Negotiate on Your House? 5 Tips for Sellers to Keep the Deal Moving

Mon, 05 Oct 2020 15:47:10 GMT

D id you know that stress literally changes the way our brains perceive time?

When we’re faced with a frightening or traumatic experience, anecdotal evidence has shown that the way we experience time fundamentally shifts. A mere split second can feel like something much longer when we’re dealing with extreme stress, like we do when we sense that danger may be imminent.

That’s why it feels like an eternity and a half when you’re waiting to hear from your agent after hearing those magic words: “We’ve got an offer on the way.” Even though real estate negotiations don’t typically take more than a few days once the ball begins rolling, it feels like forever when you’re going through the stress of negotiating a home sale—one that 40% of home buyers rank as the top source of stress in modern life.

While some serious patience is required for smart negotiation, you don’t just have to sit back and twiddle your thumbs. We chatted with the pros to get a sense of how long negotiation takes, what factors can impact negotiations, and how you and your agent help to keep things moving.

Tick-tock! How long til you’ve got an offer on lock?

So just how long will you be in limbo while you wait to lock in an offer on your house?

The good news is that in most cases, the back and forth between a buyer and seller on the purchase offer should only last a short 1 to 3 days , according to top agents in the business.

Barring any circumstances like a bidding war or an especially indecisive or unavailable buyer (which could potentially extend the process by as much as a week or so), negotiations will only take a few hours. You could have an offer at lunch and be signing the paperwork to make it official by dinner.

“Normally, when it comes to pricing and getting a sale price, you’re back and forth at most three times,” said Chris Ognek, a top-selling agent in Fredericksburg, VA who’s negotiated over 400 real estate deals to date. “By that point, you’ve gotten the seller and the buyer to their breaking point. I very rarely ever see it go past that.”

That not only allows opportunity for consideration of counteroffers, but also lets both the buyer and seller know that both parties are serious about coming to an agreement in good faith and a timely manner. Let’s go through a few key points to know about this process:

What’s up for negotiation during the offer stage?

Up for negotiation during the offer stage are the purchase price, closing date, closing costs, earnest money, and buyer’s contingencies such as those terms related to financing, the home inspection, and the home appraisal. If the buyer wants to add any special contingencies, such as buying contingent on the sale of their current home, that could take up more time in negotiations.

This is also the time when the seller would need to disclose any attachments to the home they plan to take in the move (such as a stove, refrigerator, or window treatments) and the buyer would have the opportunity to request it stay.

But of all the points of negotiation, pricing tends to be the biggest make-or-break variable.

When do offer negotiations start and stop?

Negotiations start after a buyer makes their initial offer to the seller. Because it’s often mutually beneficial to move forward as quickly as possible, the length of negotiations comes down to how fast the agents can communicate their client’s interest and get the deal down in writing.

Offer negotiations then officially stop when both the buyer and seller have signed the purchase offer that details the agreed upon price and terms.

Are home sale negotiations over after you’ve signed the purchase contract?

No, the door will reopen for negotiations depending on the results of the home inspection and home appraisal but the process will need to keep moving in order to meet the closing date deadline noted in the contract.

If unexpected issues with the house or a low appraisal throw a wrench in the closing, then you have what’s called a delayed settlement. All in all closing on a house typically lasts between 30-45 days.

How do counter offers work and how can they impact the offer negotiation time period?

A counteroffer is the seller’s response to the buyer’s initial offer. It tells the buyer that you’re open to their offer, but you need one or more of the terms outlined to be tweaked to suit your needs. A buyer can then submit a counter-counteroffer, and there’s no limit to how many times offers can be volleyed back and forth. Again, though, 3 presented offers/counteroffers is usually the max.

According to Ognek, most of the time sellers and buyers make a counteroffer for the purposes of hashing out a sales price, as well as any seller subsidies like covering closing costs. Other issues that are commonly covered by counteroffers include:

The amount of the earnest money deposit
Timelines for contingencies
Closing dates
Addition or exclusion of personal items (like furniture or appliances)
Change of service providers (for inspection, repairs, etc.)

Just as buyers can withdraw an offer up until the point when it’s officially accepted, so can sellers. There are many scenarios in which this is a reasonable course of action.

One common reason for a seller to withdraw a counteroffer might be if a better offer is received before the potential buyer agrees to the amended terms. In that case, the seller can simply withdraw their offer, meaning that the first buyer is no longer in the running.

The importance of the “time is of the essence” clause

You may have heard the term “time is of the essence” in relation to real estate contracts, but what does that mean for you as a seller?

When a contract states that time is of the essence, it serves as a legal reminder to all parties involved that the clock is ticking. In home negotiations, “time is of the essence” indicates that the actions of one party depend on a response from the other party within the time specified. If that doesn’t occur, it can be considered a breach of contract.

If you don’t use the phrase in your contract, it can come back to bite you in a big way. In one legal case from 2008 where two parties entered a contract without using the term, a court found that the agreed-upon closing date was not enforceable because the contract didn’t specifically state that time is of the essence. These five words act as legal protection if the process starts to drag on for longer than it should.

So, since time is such an important factor when selling your home, what can you do to make sure negotiations keep moving?

1. Get your priorities together before negotiations even start.

Price is a huge sticking point when it comes to selling your home, but it’s not the only issue to consider when you’re figuring out what you really need to get out of your sale.

Before you even start fielding offers from prospective buyers, take the time to think about what matters the most to you and identify your priorities accordingly.

There are so many factors that go into every home sale, so it’s important to pinpoint ahead of time where you have room to compromise (and where you don’t). If you haven’t figured out whether you really want to fight to take your window treatments with you or even where your price bottom line lies, you’ll be put on the spot when it’s time to make those decisions during negotiation.

Establishing your priorities ahead of time means that you’ll be able to act more swiftly (and confidently) when the clock is ticking.

Choose one or two must-haves, and be willing to negotiate on the rest. Whether you’re most focused on price, timing, contingencies or anything else, your listing agent will be able to help you remain focused on the bottom line.

2. Gain leverage off the bat with a smart pricing strategy.

Pricing your home correctly is the number one way to tip the scales in favor of a swift sale with quick negotiations. Go into your negotiations with the understanding that the process takes time, and that the strategy for closing quickly is going to be different than negotiating with a high price as a priority.

“To move negotiations along, you should offer your best position. This will not result in the highest price,” explained Bruce Ailion, an award-winning real estate broker and licensed attorney.

“Skillful negotiation takes time. It requires understanding of the other person’s needs and concerns. It takes time to cook.

Roasting a chicken in 15 minutes doesn’t turn out a great roasted chicken.”

Work with your agent to pinpoint the lowest offer you’d consider accepting and think of any higher offers as a bonus. Aggressive pricing right off the bat can make a huge difference when it comes to getting bites on your listing. On the other hand, if you’ve got time to kill, then negotiate away but know that buyers won’t wait around forever.

3. Whatever you do, don’t ice out your prospective buyers.

Game theory might tell you that it’s a power move to make your opponent sweat waiting for your next move, but that couldn’t be further from the case in real estate negotiations. Not only does a prompt response go a long way in generating trust and good faith, but it could be the difference between making a deal and missing out.

“If it goes too long—and sometimes too long is the next day—both sides start to get nervous,” said Ognek. “Buyers don’t stop looking at houses, even after they’re in a contract. They continue to look at houses.” Because of this, the clock starts ticking for sellers from the moment the buyer submits an offer.

Ognek advises sellers to be expeditious when moving forward. During the negotiation process, your agent should communicate with buyers frequently.

As your representative, the agent needs to check in with the buyer’s agent every 4 to 6 hours, even if it’s just to let them know that you don’t have an update quite yet. Proper communication will put everyone’s minds at ease, and stress levels will be significantly lowered.

4. Give yourself more time than you think you’ll need.

The last thing you want when selling a house is to be forced into bad decisions because you’re pressed for time.

For example, if your goal is to sell your home sometime during the spring, talk to a listing agent 6 months before you’re hoping to put it on the market.

“Planning is everything,” said Ognek. “I take my springtime sellers’ pictures in the fall. March is an ideal time in my area to list, but the grass is still brown and the trees don’t have any leaves. That doesn’t help for marketing.”

Instead, Ognek’s photos show green grass and lush foliage, giving his properties a leg up over those with less appealing photos.

The worst case scenario that could come from connecting with an agent too early is that they’ll tell you to come back in a month or two and give you advice on what projects to tackle in the meantime. Either way, you’ll know you’re on the right track.

5. Work with an agent who’s got negotiating experience.

The decision to hire a top-ranked real estate agent may have an even bigger impact on your offer negotiations than you realize. When you set out to select your agent, you should look at their performance when it comes to sale-to-list price ratio—the higher the ratio, the more money they are able to net their seller clients on average.

An agent who’s facilitated a lot of transactions will also have negotiated through a broad range of scenarios and know how to navigate your home sale accordingly.

So, how long does negotiation take? The answer is, it depends.

The truth is we’re all about as impatient as a kid in the back of the car yelling “Are we there yet?” every 10 minutes. But the back and forth nature of a home sale means that the length of negotiations is largely dependent on how quickly and efficiently you’re able to communicate with the buyer and where you rank your own priorities.

If you’ve got a need for speed, then you can negotiate faster but potentially will have to make more compromises to keep the deal moving. On the other hand, crafting a deal that checks all your boxes when it comes to terms and pricing might take a little longer. Tell your agent what matters to you most and leave the hardballing to the pros—then, no matter how long negotiations go, you can trust you’ll end up with a “Sold” sign in the yard.

Source: HomeLight

The 2020 Fall Foliage Prediction Map

Mon, 21 Sep 2020 19:02:35 GMT

The 2020 Fall Foliage Map is the ultimate visual planning guide to the annual progressive changing of the leaves. While no tool can be 100% accurate, this tool is meant to help travelers better time their trips to have the best opportunity of catching peak color each year.

You can find the complete interactive map HERE or by clicking the map below

Why Do Autumn Leaves Change Their Color?

Some consider it to be the most incredible time of the year. Gorgeous colors vibrantly encoring the end of summer as the trees put themselves to bed for the long sleep of winter. The Great Smoky Mountains floods with thousands upon thousands of annual visitors all hoping to achieve a breathtaking view of the beautiful renaissance of nature.

The Science Of It All

It all starts with photosynthesis. Leaves typically produce their vivid hues of green from spring through summer into early fall through the constant creation of Chlorophyll. As we all learned in 5th grade science, Chlorophyll is the key component in a plant's ability to turn sunlight into glucose, which in turn feeds the trees. Many millions of these Chlorophyll cells saturate the leaves, ultimately making them appear green to the eye.

Did you know?

Without the presence of Chlorophyll in the leaf, the bright golds, reds, yellows, and browns would be the natural colors seen year round.

The Changing Colors

Chlorophyll is not the only player in the fall leaf-color game. Present in other leaves and trees are the compounds known as Carotenoids and Anthocyanins. As the Fall days begin to get shorter and shorter, the production of Chlorophyll slows to a hault, eventually giving way to the ‘true’ color of the leaf.

"Autumn is a second spring when every leaf is a flower."

- ALBERT CAMUS

Why do leaves fall?

The beauty of nature is sometimes found in the profound ‘intelligence’ it exudes. Perennials, which includes trees, must protect themselves in order to get through the harsh, freezing temperatures of winter. If trees did not shed their leaves, their soft vegetation would certainly freeze during winter time, damaging and, no doubt, killing the tree.

In order to cope with the grueling winter temperatures, trees slowly close off the veins that carry water and nutrients to and from the leaves with a layer of new cells that form at the base of the leaf stem, protecting the limbs and body of the tree. Once the process of new cell creation is complete, water and nutrients no longer flow to and fro from the leaf - this enables the leaf to die and weaken at the stem, eventually falling gracefully to the ground.

"I trust in nature for the stable laws of beauty and utility. Spring shall plant and autumn garner to the end of time."

- ROBERT BROWNING

What happens to the fallen leaves?

Earth, among other things, is fantastic at recycling. Whether through the water cycle, or the slow process of decomposing plants and trees back in to rich soil, the Earth wastes very little.

When leaves fall to the ground, they begin to break down and eventually create a rich humus on the forest floor that absorbs dew and rainfall. This nutrient rich ‘sponge’ acts as a continual source of nutrients and water for trees and plants, helping to promote life and plant health in the next spring season.

It is not difficult to conclude that while the falling of the leaves protects the trees through winter, it’s likely that trees would not survive as well without the rich layer of dead leaves through the warm spring and summer months. In this way, trees' natural cycle provides health and sustainability for itself year after year.

Source: Smoky Mountains

Flipping Houses: The 6 Most Important Calculations When Assessing a Fix & Flip

Mon, 17 Aug 2020 16:52:39 GMT

TV stars make the flipping process look easy. Sure, they may have to replace an entire HVAC system last-minute, but they always walk away with happy buyers and tens of thousands of dollars in their pockets.

Is that really how flipping goes?

Not all investors agree that flipping is the best process for investing in a house. Others prefer the buy and hold model or the BRRRR strategy. The “right” choice will depend on the home’s value, how much you can afford in holding costs, and what repairs are necessary to flip the property.

No investor should flip a house without looking closely at the associated costs. The estimated total will always seem lower if you forget to factor in the little expenses that slowly eat away at your profit. Don’t leave any costs up to chance.

The six most important calculations you will need when assessing a flip include:

Current cost of the home
ARV (after repair value)
Projected repair costs
Closing costs
Financing costs
Other monthly expenses

How Much Does It Cost to Flip a House?

Dive deep into the aforementioned six areas to calculate as accurate an estimate as possible. That way, you can invest confidently in properties where the numbers make sense.

Surprise repairs or sitting on the market could mean the difference between a good investment and a bad one. Prepare yourself appropriately to walk away from your flip with a stuffed wallet.

1. Current Cost of the Home

This is obvious. How much are you going to have to pay up front in order to get this flip started? Know that this cost will also have an impact on other calculations, like closing costs and financing costs.

2. ARV (After Repair Value)

The ARV will determine whether or not all of your repairs are worth the time and money. Investors calculate a home’s after repair value to estimate what they will walk away with when they finally sell the flip to the new homeowner.

Estimating a home’s ARV may require some research and planning. What repairs will add value to the home? Where is the home located? How will it compete with similar homes in the market?

Take a look around the neighborhood and consider similar properties when assessing your home’s ARV. This analysis can also be a good predictor of how long a house might stay on the market. It suggests the direction that home prices are moving, too.

3. Projected Repair Costs

You won’t reach your target ARV until you make the right repairs on your flip. But how much are these repairs going to cost?

There is no one answer. Every house has different needs based on its square footage, when it was built, and how it was maintained by previous owners. Flippers could have to replace an entire HVAC system just to get the building up to code, or the house may just need some fresh flooring and paint.

The more thoroughly you assess these costs, the fewer surprises you will face when it’s time to flip. (It’s not an episode of an HGTV show unless it has one big surprise repair to keep viewers hooked.)

BiggerPockets has a Rehab Estimator Calculator to help fix and flippers assess necessary repairs. Before you buy, consider which repairs must be done:

Roof and gutter maintenance/replacement
Exterior carpentry (siding, windows, doors, deck, and/or porch)
Landscaping
Septic repairs
Electrical, plumbing, HVAC maintenance or replacement
Flooring and drywall replacement/cleaning
Appliance replacement

These are just some of the repairs you may face when flipping a home. Bring a comprehensive checklist when walking through a home to thoroughly assess the work that needs to be done and how much these repairs could cost.

4. Closing Costs

Flippers will need to buy and sell their property, going through the closing process twice. Buyers typically don't have to factor in a high number for closing costs, but negotiations could always change the game. Sellers often foot the bill for agent fees, concessions, or title fees. These costs could reach up to 10 percent of the sales prices, so don't forget to factor them in when assessing the flip.

5. Financing Costs

Unless you have cash to play with, you're going to need to get a loan for your flip. The more you sit on the flip, the more interest your loan will accrue. Consider the costs of getting the loan—and paying it back.

6. Other Monthly Expenses

Even if you don’t anticipate owning the home for more than a few months, you’ll still have expenses to pay as a homeowner.

Here are a few:

Utilities
Property taxes
Insurance
HOA fees
Landscaping maintenance

Keep these costs in mind as motivation to sell quickly. The longer you sit on a flip, the more you will have to pay in electric bills and property taxes.

Don’t Just Rely on One Calculator

There are plenty of online tools to estimate a flip’s potential profitability. In fact, BiggerPockets has seven different calculators for assessing a flip, including a Fix and Flip Calculator and Rehab Estimator Calculator.

A single calculator is unlikely to provide a definite answer on whether your flip is a good investment or not. Consider multiple scenarios and look to different resources before making a decision.

The difference between a good or bad flip could be one simple oversight. Consult with real estate investment experts about anything you'd like clarified or double-checked.

Source: BiggerPockets

Disc Golf the New Hit on the Grand Strand!

Wed, 05 Aug 2020 16:34:32 GMT

Sean Hodge turned to disc golf as a backup workout.

When his gym closed because of COVID-19, the 45-year-old bartender needed a way to burn calories and lower his blood pressure. A few friends played the 18-hole course at the Socastee Recreation Park, so he figured he’d check it out. By June, he’d lost nearly 60 pounds, found a new hobby and discovered a community that embraced him.

“I gained a bunch of friends out of this,” he said. “Friends I didn’t have otherwise, man. … It’s becoming more popular and more popular. I’m starting to see a lot of people talk more and more about it.”

Disc golf is appropriately named. It’s a sport that involves throwing a disc into a basket, and the player who can do that in the fewest throws (just like golf strokes) wins. Locally, the sport’s popularity has been fueled by an active nonprofit club and the willingness of local officials to invest in more disc golf facilities. This summer, the governments of Myrtle Beach and Horry County agreed to build a new 18-hole tournament course near The Market Common. The county has already begun clearing space for the Splinter City Disc Golf Course and its design is complete. City officials also have plans to construct an additional 9-hole course in the area for beginners.

“It’s pretty cool how much [disc golf] has blossomed in Myrtle Beach over the last few years since the club got rolling,” said Chad Sullivan, president of the Myrtle Beach Disc Golf Club. “It’s pretty awesome.”

A former golf pro who grew up playing ultimate Frisbee, Sullivan started visiting the disc golf course at Socastee in 2016.

The Socastee course was built in 2012. Initially, it consisted of a few baskets and trees. A dozen or so regulars went there, but gradually more diehard disc golfers moved to the area. Par 4 and Par 5 holes were added and Socastee soon became a popular tournament site.

In some ways, the development of Socastee’s course led to the disc golf club forming in 2018.

“Everybody talked about it and talked about it and then finally in 2018 we just went for it,” Sullivan said. “We kind of blew up from there.”

The club has grown from about 60 paying members to more than 125.

Along with maintaining Socastee’s 18 holes, the club set out to establish another disc golf course on the Grand Strand.

“Being disc golfers in Myrtle Beach, the next 18-hole disc golf property was an hour and a half in any direction, whether that was Wilmington or Charleston or somewhere else,” Sullivan said. “Our goal from the beginning has been to establish another 18-hole property in Myrtle Beach. And it’s been a grind, man. I’ve put some serious time into getting it all together. We ended up being able to kind of grow the sport in the area enough to get people’s attention.”

The city certainly took notice.

“Disc golf is something I’ve wanted to have for the city for several years,” said Dustin Jordan, Myrtle Beach's director of parks, recreation and sports tourism.

The problem for the city was that there wasn’t enough available land for a course.

The reason Splinter City worked out is because the county owned 25 acres at the intersection of Farrow Parkway and South Kings Highway. The land used to be part of the Myrtle Beach Air Force Base and both the county and the city saw the site as a way to support the growing interest in disc golf.

“That’s something I wanted to do anyway,” Jordan said. “That was great for me.”

The course, which is expected to open in the coming months, gets its name from an old camp site on the property. It will have 36 tee boxes and 18 baskets. Jordan sees it as a compliment to the Socastee course.

“The usage there is very high,” he said. “Statewide and nationally, disc golf is a growing sport.”

Along with Splinter City, city leaders also plan to add a 16-18-acre beginner’s disc golf course as part of Thunderbolt Park.

“The idea would be putting something a little shorter and not quite as challenging as Splinter City,” Jordan said.

Sullivan agreed there’s a need for that type of course.

“We want to find a stepping stone-type facility for people to kind of be brought into the game a little bit more softly than [with] all the trees that we have in Socastee,” he said. “They move, I swear.”

On a humid Tuesday afternoon, Sean Hodge hauled his bag of multi-colored discs through a maze of Socastee pines.

“It would be nice to see some more courses,” the North Myrtle Beach resident said. “There’s some times out here on Saturday mornings or Sunday mornings, it gets kind of crowded.”

Since he started playing, Hodge has introduced a few of his buddies to the game.

Although disc golf initially was a way to sweat through a few miles each day, he quickly discovered he liked the camaraderie of the players. At Socastee, disc golfers come from various backgrounds. Doctors and lawyers compete with carpenters and landscapers.

“It’s a pretty open community,” Hodge said. “Everybody’s super, super positive. I played a lot of real golf before I discovered this. But the real golf community can be pretty pretentious at times. This is a little more earthy.”

Source: My Horry News

Does a Fresh Coat of Paint on the Outside of Your House Add Value?

Mon, 27 Jul 2020 18:39:08 GMT

A beautiful exterior paint job is a show stopper and gives a homeowner major first impression points. A 2015 study estimated the ROI on an exterior paint job to be 51% while Consumer Reports says that enhancing your home’s exterior, including paint touch-ups, can boost home value by 2-5%.

“The main thing you don’t want to see when you walk up—or even in the back—is that your trim or molding shows rot or if the paint’s been chipped off. That’s an easy fix,” said Leighann Russell, a top-selling agent in Buford, GA. “It makes a huge difference.”

But painting the whole house is no small job to take on. It takes experienced painters 5 whole days to paint an entire house exterior (so likely at least double that if you’re an amateur), and costs an average $2,802 to get done. The key then is deciding whether your house needs a full paint makeover or if you could accomplish what you need to with smaller projects.

Paint takes a beating as your home’s first line of defense

A lot of factors determine the longevity of exterior paint: the type of surface being painted, the quality of the paint, the skill of the painter (or painting contractor), and of course, the weather.

Brooks Painting, a contractor in Davis, California, that serves the Sacramento area, says that the greatest threat to exterior paint in Northern California is the sun’s UV rays, which cause paint to wear, chalk, and crack.

Paint on a stucco exterior can last about 10 years there; on wooden surfaces, about 5 to 7 years. In other areas, freezing winters and soggy rainy seasons can cause paint to fade, crack, and peel.

Paint that’s in poor shape isn’t a deal breaker during most home appraisals for a conventional loan. However, peeling or chipped paint is an issue with Veterans Administration (VA) appraisers and will need to be fixed before the financing will go through.

A home inspector will make note of defective paint to check if it’s indicative of an underlying issue, Russell said. This can include rot, mold, termites, or siding issues; some siding has been discontinued or recalled because it’s susceptible to mold or swelling, which affects the paint.

Exterior paint contains solvents, pigments, additives, and binders, all of which control the hue, drying time, mildew, and other considerations. Thanks to modern paint technology, two coats of top-quality exterior paint over primed wood can last 10 to 15 years and significantly longer on stucco, according to This Old House. Paints labeled “100 percent acrylic latex” adhere tenaciously to wood, vinyl, masonry, and metal and are flexible, breathable, and more colorfast than those made with acrylic blends or vinyl.

Should you DIY or hire a professional for your exterior paint job?

You’ll save costs on professional labor with a DIY paint job, and if you’re a somewhat handy individual who’s tackled projects around the house before, it can be done.

The most durable paints range from as little as $17 a gallon to more than $100, depending on the brand and composition. But you’ll want to base your decision on a few key factors, like how tall your house is, whether the house has any special architectural features, and the slope of the ground that your house is built on.

If you’re concerned about breathing in the fumes, federal regulations limit the amount of VOCs, or volatile organic compounds, to 250 grams per liter in flat exterior paints and 380 grams per liter in glossy exterior paints.

However, an exterior paint job involves more than just calculating how many gallons you’ll need and buying brushes or a sprayer. Painting and Decorating Contractors of America (PDCA) recommends cleaning any dirt or debris on the exterior with a pressure washing to help the paint adhere better. You’ll also need to get rid of any previous coats of cracking or peeling paint, and caulk any trim or other cracked panels to ensure the paint goes on smoothly.

You might not have the equipment or materials to paint a whole house yourself—and buyers can tell the difference. “People can tell they did a shady job on it and they’re gonna have to come in there and do it themselves again,” Russell said.

Plus, if your house has more than two stories, you’ll need help. The last thing you probably want to do is be on a ladder painting your home—and it’s gonna take you a lot longer,” Russell said.

“If you hire a painter who’s a professional, generally, they have a team of people, and they can knock it out in a couple days.”

Painting the exterior of a 1,500-square-foot house costs about $1,800 to $3,800 nationwide for paint, supplies, and labor, depending on where you live.

That said, you might not have to paint the entire exterior.

Sometimes exterior paint touch-ups are the better choice

If your home inspector and real estate agent have noticed that the exterior as a whole is in good shape, you might just need to paint the trim and other accents to cover any chips or flaking and give your home a fresh look.

Painting the trim is less costly than painting the exterior. A 1,500-square-foot house has about 500 feet of finished trim, which to paint professionally costs about $750 to $1,800 nationwide, including labor and supplies.

But depending on where you live, a pressure wash might be all your house needs. The PDCA recommends pressure washing your home’s exterior annually to avoid the buildup of dirt and debris.

“In Georgia, you really don’t have to paint your house very often. You can just pressure wash it, and it makes a huge, huge difference,” Russell said. In addition to removing dirt, pressure washing will remove mold or mildew from the outside of a home that doesn’t get a lot of sun.

The average cost of power washing a 1,500-square-foot house nationwide ranges from $400 to $500, depending on location.

Cue the curb appeal!

Should you decide to paint the entire house, designers say you should check your home’s architecture and surroundings. Symmetrical homes, with their sense of formality and heritage, look elegant with a light palette and accents, such as ivory and white, with a front door in a bright welcoming color such as aqua.

Shingle siding in slate gray with white trim and a front door painted a deep navy is a muted but sophisticated look. Cool green, butter yellow, and pure white is a calming palette that draws its inspiration from nature.

By contrast, a beach house in a modern design looks cheery in yellow with white trim but grounded with a cinnamon-brown door. A similar home with ocean blue shingles, white trim, and a front door in royal purple looks playful yet stylish.

Regardless of whether you touch up the trim, power wash the exterior, or hire a professional crew to paint your home’s exterior, the most you might spend might be a few thousand dollars—but the curb appeal pays huge dividends. It not only catches buyers’ eyes but helps cement your asking price.

“Generally, you’ll get back what you put into it,” Russell said.

Source: HomeLight