Jun 19, 2014 | Home Selling Tips
Just when you think you’ve done everything you need to do to get your home ready for the market, months pass and your home doesn’t sell. Consider a few factors that can effect your goal of selling your home.
Priced Too High – If your home has an excessive asking price, it will be harder to sell. With so many homes available today, a big price tag may turn buyers off.
And, your competition down the street may have the same home but a better price.
The Market – No longer can you simply put a home on the market and watch the offers roll in. Nowadays, you have to be diligent and knowledgeable in your approach.
Research the market value of homes in your neighborhood and know what kind of competition you’re up against. And, understand today’s buyers and what they need in order to make a good offer on a home.
Unfavorable Location – No matter how gorgeous a home is a bad location can hurt sales. Although you can’t change the location, you can be creative in figuring out ways to appeal to buyers. Offer incentives to attract buyers or lower your asking price.
The Appearance – Does your home need some work? If so, you want to attack those issues first before putting your home on the market.
Things like dirty carpets and broken appliances can turn buyers off. Try staging your home. This will help to ensure your home dazzles potential buyers.
You Didn’t Consult A Professional – Trying to sell a home yourself can be an extremely daunting task. That’s why you need a real estate professional who knows the ins and outs of the industry and can market your home in the right way.
The good thing is that you can make changes that will improve the situation. Go over all the points listed and address any problems. Once that’s done, you’ll have a better chance of watching your home sell.
Jun 18, 2014 | Real Estate Tips
With the prices for everything skyrocketing these days, every penny counts. This includes your homeowner’s insurance costs. If you’re thinking of buying a home and need homeowner’s insurance, here are a few tips on getting quality insurance for a fair price:
Tip #1: Shop Around
Ask family and friends about their homeowner’s insurance. Check the Yellow Pages, the National Association of Insurance Commissioners (NAIC) and the state insurance department.
Other places to shop for insurance include consumer guides, insurance agents and online insurance quote services. Don’t just look for lower prices, however. You need a fair price for the services you need.
Tip #2: Raise Your Deductible
The deductible is how much you have to pay before the insurance company starts to pay a claim on your home. The higher the deductible, the lower the premiums. If you live in a disaster-prone area, your policy may have a separate deductible for specific types of damages.
Make sure, when reading the policy, you carefully go over damage-specific information.
Tip #3: Use The Same Insurer
Some companies will take five to fifteen percent off your premium if you buy more than one policy from them. If the insurer offers homeowner’s, auto and liability coverage, you stand a chance of having a lower premium than if they only offer one or the other.
The key is to make sure that the combined price is lower than the price would be if you had purchased them separately.
Tip #4: Improve Home Security
By installing a sophisticated fire sprinkler system and a fire/burglar alarm that rings the monitoring stations, some companies will cut your premium as much as fifteen or twenty percent.
For a smoke detector, burglar alarm or deadbolt locks, you can usually get at least a five percent discount. Check with your insurer to make sure that the system you’re installing will lower your premiums, though; the systems aren’t cheap and not all of them qualify for a discount.
Read everything carefully before you sign, to make sure the policy covers your insurance needs without adding on hidden fees. Even a little money saved can go a long way toward making it easier to live within your budget.
Ready to buy a home? Let me help you find the perfect home and get it at the best terms and price. Call or email your trusted real estate professional.
Jun 17, 2014 | Around The Home
Wrought iron is a classic accent that has been used to beautify homes for centuries. Its strong and simple elegance is a wonderful addition to any modern home and can be incorporated into home design in many different ways.
A Masculine Addition To Any Design
Wrought iron is considered to be masculine from a design standpoint. It is a great way to add depth and balance to a home.
It works well with both light and dark palettes, and can be incorporated into most modern home designs.
Because it is fabricated by welding, wrought iron has a strength beyond that of most construction materials. It also adds a dramatic finish to exposed beams and ceilings.
Wrought Iron Railings Are Strong And Supportive
These railings are durable and can be fabricated in many beautiful designs. They have been a popular choice in home design not only for aesthetic reasons, but also because of their strength.
Railings of all kinds can be done in wrought iron. Staircases, landings, and decks are just some of the places we are seeing more wrought iron in modern homes. Entry gates in wrought iron make a rich and dramatic statement. They are impressive, add great appeal, and are quality security features.
Showcase Natural Woods And Make Them Stand Out
There is something so striking about the combination of wood and iron. Accenting a wooden gate with large wrought iron hinges and handles gives the gate new depth and beauty.
Staircases are also an excellent place where wrought iron and wood can be combined to create eye-grabbing features in modern architecture.
Wrought iron décor items make the richness of wood stand out beautifully. A couple of small sculptural pieces on a wooden mantle or floor will bring attention to the natural beauty of the grain.
Furniture For Both Outside And Inside Of The Home
Wrought iron furniture finds a fitting home in modern architecture. It has always been a popular choice for exterior design, but is being incorporated more into interior design as well.
Wrought iron patio furniture and trellises are used as focal points in outdoor landscaping, and the same can be done inside. Wrought iron in a modern kitchen or any room is quite striking. Tables, chairs, and beds can all be found in unique wrought iron designs.
Find Functionality With Wrought Iron Fixtures
Wrought iron lighting fixtures are dramatic and beautiful. From sconces to chandeliers, lighting fixtures are a functional way to bring wrought iron into a home.
Some designers like to showcase the entry of a home with an impressive chandelier. The theme is easily carried through a home by using these lighting fixtures in the dining room, hallways, and kitchen. Impressive outdoor fixtures and light posts can light the way for visitors to your doorstep.
Wrought iron is a simple, strong, and beautiful addition to a modern home. It is a great way to add appeal and value to your house and property.
Jun 16, 2014 | Market Outlook
Last week’s economic news was quiet in the housing sector, but retail sales and employment-related reports provided indications of less consumer spending and reduced consumer confidence.
On Monday, James Bullard, St. Louis Fed President, commented that inflation appears to be rising. Although not a voting member of the Fed’s Open Market Committee (FOMC), inflation has been a topic of concern to the FOMC in recent years. Mr. Bullard had previously noted that inflation was stable.
His remarks set the stage for this week’s FOMC meeting and press conference by Fed Chair Janet Yellen. Analysts expect the Fed to continue tapering its asset purchases as it winds down its quantitative easing program.
Labor related reports were mixed last week. Job openings in April rose to 4.46 million in April; this was the highest reading since September 2007 and exceeded the March reading of 4.17 million job openings in March.
More good news came from the U.S. Labor Department, which 4.71 million hires in April. This was the highest rate of hiring since June 2008 and represented a year-over-year increase of 6.00 percent. At the start of the recession at the end of 2007, about 5 million job openings were reported.
Mortgage Rates, New Jobless Claims Rise
Weekly jobless claims were reported at 317,000 as compared to expectations of 310,000 new jobless claims and the prior week’s reading of 312,000 new jobless claims. The four-week rolling average of new jobless claims rose by 4,750 new claims for a total of 315,250. The four-week gauge of jobless claims evens out weekly volatility and is viewed by analysts as a better indicator of labor market trends.
Mortgage rates were higher according to Freddie Mac. The average rate for a 30-year fixed rate mortgage rose by six basis points to 4.20 percent; discount points rose from 0.50 to 0.60 percent.
The average rate for a 15-year mortgage rose by eight basis points to 3.32 percent with discount points unchanged at 0.50 percent. The average rate for a 5/1 adjustable rate mortgage rose from last week’s reading of 2.93 percent to 3.05 percent. Discount points were unchanged at 0.40 percent.
The Fed’s quantitative easing program was implemented to control long-term interest rates, including mortgage rates. Gradual tapering of this program is allowing mortgage rates to rise. Other influences include investor concerns over recent decisions made by the European Central Bank.
Consumer sentiment slipped slightly for June according to the University of Michigan Consumer Sentiment Index. June’s reading was 81.20 as compared to an expected reading of 82.80 and May’s reading of 81.50.
What’s Ahead
Next week’s scheduled economic news includes the NAHB Housing Market Index for June and Housing Starts for May. These readings are important indicators for housing supplies, as a lack of builder confidence can translate to fewer housing starts. Housing markets were impacted by high demand for homes against low inventories of available homes during 2013 and into 2014.
Also noteworthy is the FOMC post-meeting statement and Fed Chair Janet Yellen’s press conference. The FOMC sets the Federal Reserve’s monetary policy and is expected to announce further tapering of the Fed’s quantitative easing program. It will be interesting to learn the Fed’s perspective on inflation, which has been stuck below the Fed’s target level of two percent.
Friday’s release of Leading Economic Indicators for May round out this week’s economic reports.
Jun 13, 2014 | Home Selling Tips
Many home owners putting up their home for sale on the market don’t have a lot of available cash to spruce it up. While staging houses is a definite plus, it can cost a fair amount of money, as do many of the other suggested “to-dos.” Here are a few inexpensive and easy ways to make your home look more inviting to buyers.
Put Up Your Personal Stuff
Not every buyer looking at a home for sale appreciates the fact that someone still lives there. Putting away the your personal things can help the buyers’ see themselves in the home.
You will want to put your pet’s things (toys, litter box, bowls) away and out of sight. The same goes for your medications, toothbrushes and toilet accessories.
Clean up your kids’ rooms and put away any toys around the house. Minimize or put away knick-knacks and personal pictures. Remember that you want the buyer to imagine themselves in the home.
Create More Space
Small, closed-in spaces are major turnoffs for buyers. Create the illusion of more space by putting up out-of-season clothes or clothes you don’t wear very often to make your closets look bigger. A good way to make your bedrooms look bigger is by taking one piece of furniture out of each bedroom.
Packing up the small appliances in your kitchen is a great way to make your countertops seem larger. You can also take out all but four chairs in your dining room, as well as extra table leaves to give that illusion of space.
Touch On The Trends
Chances are that some of the buyers are paying attention to celebrity trends. Feng shui is a big one, and you can do your part with just a few touches like adding a fresh bowl of fruit to the kitchen. Put a comfortable couch or chair on the east side of your living room or den. Place a green welcome mat on your porch to symbolize opportunity. Go through your house and get rid of reds.
Whether you see or feel a difference doesn’t matter. Keep in mind that you’re trying to appeal to potential buyers of your home, not make the home more livable for you. If it helps, pretend that you’re the buyer, seeing the house for the first time.
If you’re trying to get your home ready to sell, I can help. Get in touch with me for more information.
