Mar 16, 2016 | Home Seller Tips
There are many great ways to stage your home that will immediately interest viewers, but some have the power to engage the senses and impress potential buyers all the more. Whether you’ve already put your home on the market or are looking for insider tips when you do, here are some ways to sway the eyes, ears and noses of the buyers you’re looking for.
Textures And Fabrics That Compliment
There is probably a certain kind of buyer you’ll have in mind when deciding to stage your home, so it’s important to keep in mind how your house might appear to them. While differing textures and fabrics can certainly add depth and character to a home, you’ll want to ensure that they are also flattering to each other and compliment the style already apparent in your design aesthetic.
Keep It Clutter Free And Clean
Few things are more likely to assault the eye of a potential buyer than a house that is full of trinkets and general clutter. Instead of leaving it up to the viewer to unearth what’s great about your property, be sure to do a cleanup beforehand and walk into your house as if you’re seeing it for the first time. If your eye gets caught on a pile of magazines or the gadgets left in the front entrance, it may be a good idea to clear some of it away.
Whip Up A Batch Of Baked Goods
Most buyers will be drawn into a home if they can imagine themselves in it, and few things will have a more positive effect than the way that it smells. Instead of using an air freshener, go for the naturally baked scent of a batch of cookies or muffins to provide the sense of something homemade. If your potential buyers are bakers, they will instantly be able to imagine themselves in your home; if not, they’ll be tempted by it either way.
It certainly helps the market value of your home to have an organized exterior and an up-to-date kitchen, but drawing a potential buyer’s senses into the mix can have a particularly positive impact on their interest level. It may even lead to a sale at the price you were looking for! If you’re currently perusing the real estate market for home options in your area, you may want to contact your local real estate professional for more information.
Mar 15, 2016 | Home Seller Tips
From real estate agents to home buyers, there are so many tips out there on how to sell your home that it can be overwhelming to determine which tricks will boost your success rate and make the sale. If you’re looking for a few sure-fire hacks for getting your home off the market quickly, the following may do a lot of the hard work for you so that selling won’t remain a worry for long.
Stick To A Neutral Palette
Neutral colors like white and grey may seem like a boring approach to design, but they’re actually a great way to grab a potential buyer’s attention. While an especially bold color like red or dark blue can distract the viewer, neutral tones will not jar the eye and will enable the viewer to see the features that your home truly offers. Instead of a space they can’t see for the color, they’ll be able to pay attention to the details that really matter.
Discard The Oversized Items
Most of us have an old, bulky piece of furniture that we still haven’t bothered to get rid of, but when preparing your home for viewings you may want to finally let go of this ostentatious piece. A bulky furniture item will make an undersized space look even smaller, whereas – in a large, sprawling space – it will swallow the size of the room. Instead of a large-scale item, stick to classy, medium-sized pieces that will effectively complement each other.
Keep Personal Items To A Minimum
It may seem like personalizing your home, from pictures all over the fridge to movie posters, will add to its appeal, but it can actually take away from the impression that potential buyers will get. While a home that has a few personal touches here and there can make it more memorable, too many of these little details may actually make the viewer feel out of place. Since the end goal is an offer on your home, enabling potential buyers to imagine themselves in your space is key.
There are an endless amount of tricks involved in a successful home sale, but there are a few little hacks you can do that may work wonders on the minds of potential buyers. If you’re almost ready to put your home on the market and are considering your options for selling, please feel free to contact us for more information.
Mar 14, 2016 | Financial Reports
Last week’s economic news included Fannie Mae’s Home Purchase Sentiment Index along with weekly reports on mortgage rates and new jobless claims. The City of Detroit also announced a program to help would-be buyers purchase homes that do not qualify for mortgage loans due to severe damage.
Fannie Mae: Home Buyer Sentiment Index Rises
Fannie Mae’s Home Buyer Sentiment Index (HBSI) gained 1.20 percent for an overall reading of 82.70 percent for February. The index reading is calculated using responses to several questions contained in Fannie Mae’s National Housing Survey. HBSI components include consumer responses to questions about whether it’s a good or bad time to sell or buy a home, consumer expectations concerning whether home prices and mortgage rates will rise, whether respondents expected to keep or lose their jobs, and consumer outlook for their income to significantly increase year-over-year.
The HBSI is designed to assess consumer attitudes about housing markets and their decisions about buying a home.
Mortgage Rates Rise, Weekly Jobless Claims Fall
Freddie Mac reported that average mortgage rates rose across the board last week. The average rate for a 30-year fixed rate mortgage rose four basis points to 3.68 percent; the average rate for a 15-year mortgage rose two basis points to 2.96 percent and the average rate for a 5/1 adjustable rate mortgage was eight basis points higher at 2.92 percent. Discount points averaged 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.
New jobless claims dropped to a five-month low last week with a reading of 259,000 new claims filed as compared to expectations of 275,000 new claims and the prior week’s reading of 277,000 new claims. New claims readings under 300,000 new claims indicate a healthy labor market; new claims readings have held below the 300,000 benchmark for more than a year. The lowest reading of 256,000 new jobless claims occurred in October 2015.
City of Detroit Addresses Problems with Ravaged Homes
The City of Detroit announced a program designed to facilitate the purchase and rehabilitation of vacant and damaged homes that do not meet appraisal requirements for traditional home loans. While many markets have recovered from the Great Recession, housing markets such as Detroit have languished due to the lack of financing options. The program offers mortgages to cover the home purchase and second mortgages up to $75,000 for repairs and renovation. Program administrators say they plan to issue 1000 loans over the next three years. This type of program may help struggling housing markets recover while providing homeownership opportunities to those who could not otherwise afford to buy a home.
What’s Ahead This Week
This week’s scheduled economic events include the National Association of Home Builders/Wells Fargo Housing Market Index, federal reports on housing starts and building permits issued. The Federal Reserve will release its usual post-meeting statement after its Federal Open Market Committee meeting. Fed Chair Janet Yellen will also hold a press conference.
Mar 11, 2016 | Around The Home
The springtime is often the best time of the year for cleaning up and getting rid of old items, but with its proximity to the winter months it can still be hard to commit to large-scale renovations. If you’re looking for some small fixes to give your home a seasonal boost, here are a few options that won’t take up a lot of time.
Freshen Up The Window Frames
Paint can instantly enhance the brightness of any room, but deciding to repaint can be a job that takes more than just a weekend. Instead of committing to everything, paint your window frames for a task that is cheap and doesn’t require a huge expenditure of time. Since the eyes will naturally be drawn to the windows in any room, this will serve to improve your space without all the work that goes into sanding and taping everything.
Add An Accent With Wallpaper
A creative, striking way to upgrade the look of your home is a wallpaper accent that will be easy to install but add trendy appeal to your home’s aesthetic. Instead of going for the same old, choose a wallpaper with a funky design to the area of your choice. By placing it behind a mirror or another picture, you’ll add a lot of oomph without all of the effort that goes into completely repapering a wall. It’s just important to ensure you use an adhesive wallpaper that can be repositioned in the event your first attempt doesn’t work out.
Replace An Old Fixture
It doesn’t necessarily take a lot of legwork to easily revamp a stale space, so consider a light fixture that will instantly draw the eye and can serve as a high-impact piece that really sets the tone for your chosen space. While you’ll want to choose something that won’t completely contrast with the style already present, the right piece can really enhance and modernize what you already have. It’s just important to turn off the breakers before you start fiddling around with installation.
The idea of home renovations can make people think of large scale projects that consume a lot of time, but there are plenty of little things to be done that will make for big changes without an excess of effort. If you’re making some upgrades and are preparing to put your home on the market, you may want to contact one of our real estate professionals for more information.
Mar 10, 2016 | Home Buyer Tips
Making a home purchase in a neighborhood that is sure to boom in the coming years can be a great real estate investment, but guessing on the next trendy locale may seem fraught with risk. If you’re trying to determine which area will be up and coming down the road, here are some telltale signs that buying may be a benefit to your bank account.
Full Of Creative Energy
Many bohemian areas are popular because of their lower rental and purchase prices, but a locale with plenty of artists and cultural vibrancy is probably going to be on the upswing soon with the interest it will attract. While an investment may be economical in the short-term, it may see a significant spike in the years to come.
Community Restoration In Progress
There’s a good sign, whether it’s parkland or buildings, that if restorations and renovations are occurring in a community, it’s going to see an increase in purchasing prices soon. With a nicer area and better amenities, it won’t take long for people to flock to a revived area.
Close Proximity To Cool Locales
When development of one neighborhood has left little room for further changes, there’s a good chance that prospects will move into surrounding communities to capitalize on the popularity of the area. If you’re considering a neighborhood that’s close to somewhere trendy, it’s almost a sure thing it will see its star rise.
College Kids And Young Professionals?
Restaurants and bars tend to pop up in areas where students and young professionals abound, and as the area becomes more popular it will likely see a spike in its real estate value. With the establishment of many cool places, you can bet that an area full of young people will become the place to be.
Ask A Real Estate Agent!
There are few people that will be more informed about upcoming building projects in their city than a trusted, local real estate agent, so you may want to check in with one to determine the economic viability of an area you’re considering. An agent you can trust should be able to give you an honest answer about your potential investment.
From young people to community restorations, there are many telltale signs of a community that is likely to see a real estate boom in the coming years. If you’re looking to purchase in a new neighborhood and are curious about your options, you may want to contact one of our real estate professionals for more information.
