Sep 18, 2018 | Real Estate
Fall is the time to get back into a comfortable routine, but it’s also a great time to incorporate social events into weekend work parties, and gather friends to offer neighbors a helping hand — or just moral support — to spruce up their property.
While building a new sense of community may be a side effect, it can’t be denied that giving homes in need of minor repairs a little TLC is good for the dollar value of the neighborhood as well as for the soul. REALTORS agree that the overall appeal of a neighborhood adds value to individual homes.
Police departments and security companies also note that cohesive communities are less prone to crime than neighborhoods where residents don’t really know one another.
A Community Work Day
While it’s not uncommon for some subdivisions to sponsor periodic get-togethers, or hold multi-family garage sales and social events, the idea of a day to share work and expertise to tidy up individual homes is less common. But it represents an ideal solution for residents who could use a helping hand to accomplish minor upkeep and repair projects.
Especially if you live in a neighborhood with some older residents, planning a coordinated “home improvement day” can be a unique and wonderful way to bring different generations together. Community work days are a great way to complete seasonal maintenance projects before the weather turns bad. It’s also a way to make light work out of required tasks and to have some fun as well.
Here are some ideas on how to do it right — the results can be greater than expected.
- Talk the idea up with your neighbors: Set a tentative date and divide up the planning tasks.
- Start a checklist of neighborhood skills. Chances are you’ll find engineers, carpenters, painters, and neighbors with plumbing and electrical skills among the residents. And there are also apt to be artists and craftspeople, master gardeners and children who love to rake leaves or pull weeds!
- Plan block party, potluck dinner or homemade ice cream social for the culmination of the workday or weekend, and get as many people as possible involved.
A weekend work project is reminiscent of old-fashioned barn raisings. It’s also a way to build a new sense of community, as well as to add neighborhood appeal and value. The food and the fellowship are bonuses!
There are, however, some cautions: Help should be freely offered, and readily accepted. But leave costly or complicated repairs to professionals. This kind of event should be strictly for easy DIY labor needs.
Done right, this kind of ongoing community effort can become a lasting and honored tradition. It’s worth a try, right? In the end, the entire neighborhood wins.
If a sense of neighborhood community is a priority to you when looking for a new home, be sure to tell your trusted real estate professional.
Sep 14, 2018 | Real Estate
Though the real estate business never stops, most people associate its busy periods of the year with the spring and summer seasons. And while this is true to a large extent, those who think that selling a home in the fall is a bad decision are sorely mistaken.
Just as families want to get into new homes before the school year starts, which makes spring and summer busy seasons, there’s also an urgency to get into new homes prior to the holiday season. It’s one of the reasons why you shouldn’t hesitate to list your home in the fall season.
Here’s a look at five more reasons why it’s smart to list your home in the fall:
1. Demand Is Still There
It’s a seller’s market out there, which means that there’s still high demand for quality homes. So don’t think that buyers have put their searches on hold until next spring, because they’re still out there. You’ll take advantage of this continuous demand by listing in the fall.
2. You Can Enjoy The Summer
You can enjoy next summer, that is. Yes, while sellers that list in the spring and summer are constantly cleaning, tidying up and exiting the home for showings, you can get out ahead of the game this fall so you can spend next summer enjoying your next home.
3. Buyers Are Serious
In the spring and summer months, it’s not unusual to get a lot of traffic from people who are thinking about buying. While any kind of activity is usually a positive, these types of would-be buyers aren’t exactly the strongest prospects to make an offer. With how busy the fall season is for many families, you’re likely to get showings with buyers who are serious, and thereby more likely to make an offer if they like what they see.
4. You Can Enhance Your Curb Appeal
Fall is characterized by cooler temperatures and changing colors. The former can really help green up your lawn, while the latter can make your house stand out if there are trees on the property. Aside from your home, the fall foliage can also enhance the appeal of your entire neighborhood.
5. There’s Fewer Home Sellers
A final reason to list in the fall is that you’ll have less competition on the market. That is, there are fewer available homes. If your home is attractive and sought after, you can potentially create a bidding war among interested buyers, which can help you net more off the sale.
Your trusted real estate professional can give you all the tips and tricks to prepare for a successful fall listing.
Sep 13, 2018 | Real Estate
Simple home and yard tips don’t have to take a lot of time, but can save a lot of headaches if that first winter storm catches you unaware.
Here’s a checklist to help you prepare:
Assess Your Windows and Doors
Take a walk around your interior, preferably on a windy day. Check for drafts and air leaks; replace weatherstripping, align door thresholds. and repair window frames and sills if they’re damaged. If you have storm windows, make sure they’re ready to install. Replace the screens in a storm door with glass panels. Also check your garage door to make sure that it operates properly.
According to the U.S. Department of Energy, nearly half of a home’s total energy use is for heating and cooling, so it makes good financial sense to assure that your systems are as efficient as possible for every season.
Check Your Furnace and Fuel
Before cold weather arrives, schedule or perform any necessary routine maintenance on your furnace or HVAC systems. Clean ducts, replace filters, calibrate the thermostat, and fill the fuel tanks as required. This is also the time to clean the flue and check the chimney if you have a fireplace or woodburning stove. If your home doesn’t have a carbon monoxide detector, consider installing one to assure your safety during the winter.
Prune Trees and Shrubs
Working outside can be a pleasant weekend task during the cooler autumn season. It’s also the time to do some prep work on your landscaping so that your plants will be at their best for the next growing season. Depending on your location, and your commitment to your yard, now is also the time to prepare new garden beds and plant spring bulbs, or tackle projects like brick walls, planters and stone pathways.
Undo Outdoor Hoses
Burst outdoor hose bibbs can be the source of serious interior water damage, and the most common cause is a hose left attached when the first freeze occurs. Eliminate that possibility by undoing your outdoor hoses early in the fall. If you still must water the lawn or your garden, it’s easy enough to reattach the hose as needed. Also, remember to store coiled hoses in the garage or in a shed during the winter. They’ll last longer!
Check Roof Shingles and Gutters
Although it’s not a bad idea to check your roof and clean gutters and downspouts at least quarterly, it’s especially important before winter. Take note of cracked or curling shingles; check to make sure no daylight is visible from the attic, and make sure that all gutters and downspouts are clear of debris prior to snow and ice buildup.
Owning a home requires ongoing maintenance to assure that it will truly be a haven during foul weather, but it doesn’t have to be an unending task or cost a lot of money.
If you are thinking about listing your current home or searching for a new property to call your own, a trusted real estate professional can be one of your very best assets.
Sep 12, 2018 | Real Estate
The National Association of Realtors (NAR), in its ongoing analysis of home sales statistics, believes that prices will continue to rise during the third quarter, but that uncertainty over elections could be a factor during the second half of the year.
However, NAR’s report noted that in July, a typically lackluster month, home prices rose by about nine percent, and days on market decreased significantly, perhaps signaling a strong start for the third quarter.
National statistics don’t necessarily tell the whole story, however. In addition, what will happen in the fourth quarter is, at this point, a bit more difficult to predict. Assessments about how home prices and real estate will end the year differ from one part of the country to another.
Looking Ahead
In 381 of 500 markets that were tracked, homes stayed on the market for fewer days in July 2018 than the median time on market the previous year, even in the highest price markets, typically a sign that demand is still outpacing supply.
Dallas-Fort Worth area mortgage lenders report a noticeable slowdown over the past several months, and the inventory of homes on the market has grown. But another Texas town, Midland, ranked as the nation’s hottest market for the second month in a row in July, based on continued high demand and the speed at which homes have been selling.
The list of fast-moving markets, compiled by by Realtor.com, also places Columbus, Ohio, Boston and Fort Wayne, Ind., at the top; Dallas-Fort Worth, interestingly, ranked 17th of 20 hot markets in the Realtor.com survey.
Potential Benefits
Some housing analysts note that even slight slowdowns in select markets, coupled with rising mortgage rates, may signal a wider downturn in sales nationally, adding that it is not entirely unexpected. Many real estate and mortgage professionals, however, view any potential “adjustment” as a good thing, with the explanation that the double-digit appreciation is unsustainable over the long term.
Prevailing wisdom is to take a wait and see approach leading up to midterm elections. Pollsters and pundits have widely variant opinions and, to date, trends are not sufficiently clear. In addition, the housing industry is seemingly healthy at this point and, barring unexpected major interest rate increases, demand for housing is likely to remain strong.
As one researcher at Texas A&M University explains, even a modest slowdown will likely only bring the real estate market down to 2016 levels and, in retrospect, that was a very good year! Other analysts are more positive, saying that an expected slowdown is positive and will prevent “a new bubble.”
As always, contact your trusted real estate and mortgage professionals to discuss the current situation in your local market.
Sep 7, 2018 | Real Estate
Burdensome student loan debt and a penchant for purchasing new electronics by 20- and 30-somethings can make saving up for a down payment on a home seem impossible. But Millennials and other potential home buyers may be surprised to discover that previous generations had money-saving challenges of their own.
Consider for a moment that many of our valued elders did not have the level of opportunity to attend college and earn a high-paying job. Look further back and you may realize that the Greatest Generation suffered through the Great Depression only to fight World War II.
Somehow, these outstanding Americans found a way to save money and become homeowners. So can you. By employing these money management techniques, you can cull together a down payment and still enjoy the latest gizmo.
Do The Math On Savings
It doesn’t make a great deal of sense to mindlessly squirrel money away without a comprehensive savings plan.
First steps should include discussing your pre-approval limit with a mortgage professional. By knowing your mortgage threshold, you will be able to work backwards and calculate a down payment amount.
One tried-and-true savings approach remains the 20-30-50 financial disbursement method. Structure your spending so that 20 percent of your earnings are going directly into debt reduction or savings. Approximately 30 percent should cover rent and the other 50 percent can be allotted for incidentals.
Make certain the 20 percent consistently finds its mark each month. Once you have cleared out the debt and are going full-bore on saving for a down payment, it can be motivating to watch your goal become a reality.
Eliminate High-Interest Debt
According to reports, the average American carried upwards of $6,375 in credit card debt during 2017. Folks, that is simply too much to effectively save money for a home down payment.
The high interest rates everyday people incur from credit card debt remains a significant impediment to saving money. If you have several cards with high balances, there is no quick fix to this problem. It will fall on you to be disciplined and methodical about paying them off.
Start with the card that charges the highest interest rate and work diligently to eliminate its balance entirely. Once you clear out the worst interest-rate offender, move on to the second worst. As these debts fall, you will have an opening to shuffle funds into your down payment savings account. We call that winning.
Pick Up Part-Time Gigs
The down payment effort can be accelerated by creating an additional revenue stream.
A few years back, the idea of the “gig economy” was trending. Stringing together a series of short-term and part-time jobs was considered cool. Although the so-called gig economy may have been the byproduct of a business sluggishness, such is no longer the case.
These days, unemployment is at record lows and employers are chomping at the bit to hire people. Consider picking up a few hours each week doing something you enjoy. It could entail anything from bartending to working as a coffee house barista. Make it fun and make certain the money goes only toward your home down payment. Talk about a win-win.
With strategic financial planning, people of all walks of life can earn the American homeownership dream. It’s time to stop thinking about the generational obstacles. Adapt, overcome and make it happen.
Your trusted real estate agent is skilled at finding great real estate investments. Be sure to use this valuable resource when you are ready to find the home of your dreams.
