Nov 15, 2016 | Around The Home, Uncategorized
Even small spaces can feel spacious when the art of storage is mastered. Here are 7 inexpensive storage hacks to free up space in your home.
1. Racks On Racks On Racks
It’s often the first mess you see when walking into someone’s home a clutter of shoes sprawled out by the entrance. Take care of this mess with a shoe rack, which will only take up a few feet of space but allow you to store numerous pairs of kicks.
2. Fold & Hang
Not your clothes, your chairs! If you don’t use chairs often or rarely eat at the table, consider buying folding chairs instead as they can easily be put away when not in use. Attach a few hooks to a nondescript area of your home and hang the chairs to store them.
3. Slide Into An Island
Need more counter space but can’t sacrifice your kitchen table? Well now you can have both (without renovating!). Install a small island that has a slide-in table: you can slide out the table during meals and slide it back in when finished. Perfect when paired with folding chairs.
4. Make The Most Of Your Cupboards
Install small storage solutions inside of your cupboards to make the most of their space. Hooks can hang mugs from the tops of shelves, and towel racks placed on the inside of a cupboard door can fit pot lids. For a large cupboard, consider a hanging shoe rack for compartmentalized storage space from top to bottom.
5. Multi-Purpose Furniture
When trying to maximize space, choose furniture that also offers storage, such as a bed frame with pullout drawers underneath it, or an ottoman that opens up to store remotes, books, or toys. There are countless pieces designed for small spaces, so find ones that meet your own unique needs.
6. Build Me Up Buttercup
When floor space is limited, you have no choice but to build upwards. Shelves allow you to make the most of vertical space, and can fit into almost any area. Corner shelves can help you take advantage of otherwise dead space, and tall shelving units can act as a room divider which is perfect for a studio. If you want to create a more open concept, choose wall-mounted shelves as they have minimal design impact.
7. Hang It Up
Along with every door comes a fantastic storage opportunity! Choose a door-mounted hanging storage system to keep clothes, robes, towels, or shoes off of the floor. Feel free to be creative you can use them to store whatever you like.
Want more tips on small space living? Contact your trusted real estate professional today.
Nov 14, 2016 | Mortgage Rates, Uncategorized
Last week’s economic news included readings on job openings, consumer sentiment and the Federal Reserve’s monthly survey of senior loan officers. Weekly reports on mortgage rates and new jobless claims were also released. Freddie Mac noted that last week’s primary mortgage market survey did not include post-election readings as the survey information was gathered prior to election results.
Loan Officers Survey: High Demand for Home Loans, Commercial Lenders Raise Standards
As demand for mortgage financing and homes increase, the Federal Reserve reported last week that banks are tightening the screws on commercial lending requirements. This could present challenges to home builders; they’ve been consistently pressured to build more homes at a faster pace. Less availability of commercial financing may impact home builders and their suppliers. The survey indicated that demand for home and consumer loans also increased.
Mortgage Rates Rise, New Jobless Claims Fall
Mortgage rates rose across the board on average. Freddie Mac reported the rate for a 30-year fixed rate mortgage rose three basis points to 3.57 percent. The average rate for a 15-year fixed rate mortgage increased four basis points to 2.88 percent, which equaled the average rate for a 5/1 adjustable rate mortgage. Average discount points were unchanged at 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.
New jobless claims fell to 254,000, which was lower than the expected reading of 260,000 new claims. Last week’s reading was also lower than 265,000 new claims filed the prior week. Job openings held steady at 5.50 million in September.
According to the University of Michigan’s monthly consumer sentiment index, November’s reading rose 91.60 in November as compared to an expected index reading of 88.00 and October’s reading of 87.20. This reading falls in line with strengthening labor markets. Improving economic conditions can influence consumers who want to buy homes.
What‘s Ahead
Next week’s economic reports include releases from the National Association of Home Builders, Commerce Department readings on housing starts and building permits issued and weekly releases on new jobless claims and mortgage rates.
Nov 11, 2016 | Home Mortgage Tips, Uncategorized
With the fluctuations in real estate and the increasing cost of home ownership, many people are entering the market with more trepidation these days. Fortunately, there are a number of myths associated with buying a home that may not adversely affect potential homebuyers. If you’re interested in purchasing a home but are unsure about whether it will get approved, here are a few things you may want to dispel.
No Approval With Less Than 20 Percent
While putting 20 percent down can help you avoid having to pay private mortgage insurance, this down payment percentage is still just a suggestion when it comes to mortgages. It’s necessary to put a certain percentage down and be able to drum up the money on your own, but if getting into the market is your priority, buying now may be worth the investment over time. It’s just important to remember that the cost of your monthly payment should be affordable for the long term.
Home Ownership Is Too Expensive
It’s certainly the case that the real estate market is always fluctuating and prices can go up or down, but generally speaking, a home will increase in value over time and that means your monthly payment will be something you can consider an investment. While monthly rent disappears as soon as the calendar month is over, the money you invest into a home month after month builds up your equity and ensures greater stability for your financial future.
You Must Have A Good Credit Report
While it will definitely help your mortgage application if you possess good credit, it’s not necessarily a deal breaker if you don’t. Each mortgage is assessed based on a combination of factors that can include your down payment amount and your debt-to-income ratio, so this means that if you have a higher down payment and a less impressive credit report, you can still be approved. It’s a good idea to pay your bills on time and get your debt down if you’re applying for a mortgage, but there are opportunities for potential buyers who have experienced credit issues.
Home ownership is an important dream for many people, and as a result, there are many myths associated with the mortgage process. However, even if you don’t have 20 percent down or perfect credit, there are still opportunities for improving your financial well-being and investing in a home. If you’re currently looking for a new home, contact one of our real estate professionals for more information.
Nov 10, 2016 | Home Buyer Tips, Uncategorized
You may not see the connection right away, but buying a home and planning a wedding are two experiences that require certain skills and challenge you in similar ways. Check out the three key similarities below!
1. Budget
Whether you’re buying your first home or planning a wedding, you are likely facing one of the biggest financial obligations of your life. That’s why, in both cases, it is essential that you pick a realistic budget and stay within it.
Sounds simple, but in either case it can be difficult! Unexpected obstacles may force you to spend more than you planned, or you may find yourself wanting to overspend as you find things that would be “just perfect” additions even though they don’t fit your budget. These temptations can be expected, but it’s important to remember the big picture. When it comes to your budget, pick it and stick it.
2. Details
When it comes to a home purchase or a wedding, there are countless details to consider. It’s not a simple, pre-packaged purchase, there will always be big decisions that you have to make and if you overlook something you may regret it later on.
Some decisions that you face will be similar in both experiences: Does the location work for you? Does it work for your friends and family? What is the parking situation? Is it appropriate for the climate? Will you be satisfied with your decision in the long-term?
Other details will be more unique to the situation: Do you need a cocktail hour? Do you need a walk-in closet? What style of photography would you like? Is there too much traffic noise?
Either way you’ll have lots to think about, and you’ll become acutely aware of ‘the little things.’
3. You’ve Got Style
Both your wedding and your home say something about you, they’re a reflection of your personal style. When being presented with so many choices that are particularly catered towards your personal taste, you’ll learn what you like and what you don’t. However, you’ll also learn what it is that you absolutely need, and what you’re willing to budge on.
Whether you’re choosing a wedding dress that is both gorgeous and functional for your ceremony or deciding whether or not you need an extra bedroom in your home, you’ll learn what it is that you’d want in a perfect world, and what is absolutely necessary for your current situation.
If you’re ready to start looking for your first home, make sure you do so with a trusted real estate professional. Contact us today.
Nov 9, 2016 | Home Seller Tips, Uncategorized
If you want to sell your home quickly — and for the most profit — you can’t just list it and cross your fingers. Successful sales are well-planned sales, and there are several ways in which you can make sure your own home sale turns out as you’d like it to.
1. Know Your Target Market
What kind of people are buying homes in your area? Is your neighborhood popular among new families, retirees, young singles? Do a little research to see what type of buyers are typically attracted to the area, and figure out how your home caters to their lifestyle. Marketing is one of the most important aspects when it comes to a successful home sale, and knowing who to target is the first step.
Once you have learned a bit about your potential buyers and what they’re looking for, use that information to guide the rest of your sale preparations. Consider what you’ve learned about their wants and needs and carry that into any renovations you do, your listing, and your open houses. Make your home one that your buyers really want to live, and you just might find yourself in the midst of a bidding war!
2. Call In The Pros
When you sell your home without enlisting in the help of a professional, you open the door for significant mistakes to be made. Real estate professionals have the expert knowledge and experience that is needed to steer your home sale towards the best possible outcome. They can offer advice on listing price, marketing materials, open houses, offers received, and can take care of paperwork.
Attempting to do everything yourself may sound feasible, but you could sell yourself short by accidentally pricing your home too low, or you may be on the market forever if you price it too high. Mistakes in contractual paperwork could land you in hot water, and overall you’re more likely to experience stress during your home sale if you try to do it all yourself. Find a real estate agent that you’re comfortable with, and you’ll be more likely to get what your home is worth without the extra stress.
3. Fix It Up
Making sure that key renovations are up-to-date before selling your home is another crucial factor if you want to sell it quickly and profitably. Important things to consider include your kitchen, bathrooms, and roof, as buyers tend to scrutinize those areas the most during a walk-through. Make sure that everything is in good condition and looks presentable before listing — you don’t want potential buyers to see any red flags when looking at your property.
Ready to sell your home? Contact your local, experienced real estate professional today to make the most of your sale.
Nov 8, 2016 | Real Estate Tips, Uncategorized
Are you in the market to buy or sell a home? If so, you may be wondering whether to work with a real estate agent or not. While saving on the commission might sound tempting, it can cost you later.
Here are six reasons to choose a real estate agent the next time you buy or sell a home.
#1: Agents Get The Best Price
If you’re trying to buy or sell on your own, it’s going to cost you. When buying, real estate agents are able to tap into market data to know the best price to bid. When selling, they can use this same data to ensure you ask for the highest reasonable price.
#2: Agents Know The Market
Is now the best time to buy or sell? You might not be sure, but a real estate agent will know. They have daily access to local market trends that outsiders can’t see. And since they’re working in your market each day, they can get a sense for what’s coming.
#3: Agents Know How To Negotiate
Are you a strong negotiator? If not, you’ll want to let your real estate agent take care of the negotiations. Remember, the other party in the transaction is likely to have an agent. So, without one of your own, you’ll be up against a skilled negotiator with no backup.
#4: Agents Have The Time And You Don’t
Let’s face it: you’re busy. Unless you’re going to take a vacation to deal with your real estate transaction, you don’t have the time. Real estate agents spend all their time working on their client properties. They make the time to handle inspections, negotiations and other activities.
#5: Agents Know What To Look For
If you’re buying or selling for the first time, you’ll definitely want to contract an agent. They know how to spot deficiencies in the house or property. Their experience allows them to see problems that you might not spot on your own. And they’ll know what needs to be fixed and what can wait until later.
#6: Agents Can Deal With The Paperwork
Do you love dealing with contracts, legal forms and other paperwork? If not, this might be reason enough to work with a real estate agent. They will take care of all the necessary paperwork for your purchase or sale. And if you’ve ever participated in a real estate transaction before, you know there’s a LOT to deal with. Leave this to your agent so you can focus on more fun activities.
The above are just six of the (many) reasons to work with a real estate professional. If you’re thinking about buying or selling a home, contact your local trusted real estate professional today.
