What is Really Happening with Home Prices?

What is Really Happening with Home Prices?

Home values have softened over the last twelve months. We are no longer seeing 6-7% annual appreciation levels for the national housing market. The current numbers are closer to 4%. Some have suggested that year-over-year appreciation levels could fall to 3% or less this year.

However, a stronger-than-expected economy and a good spring housing market have changed some opinions. Some analysts are now predicting that home value appreciation may begin to increase as we move forward.

Here are three examples:

Mark Fleming, Chief Economist of First American

“Data on the movement of unadjusted house prices during the early spring home-buying season won’t be available for a few more months, but it’s quite likely that price appreciation will accelerate again.”

CoreLogic’s April “Home Price Insights

“Home prices nationwide, including distressed sales, increased year over year by 3.7% in March 2019 compared with March 2018…The CoreLogic HPI Forecast indicates that home prices will increase by 4.8% on a year-over-year basis from March 2019 to March 2020.”

Pulsenomics’ Quarterly “Home Price Expectation Survey”

  • The 2018 4th Quarter survey called for 3.8% appreciation for 2019.
  • The 2019 1st Quarter survey raised the appreciation projection for this year to 4.3%.

Bottom Line

Price appreciation has slowed over the past year. However, a strong economy and a good housing market have many experts thinking that home values might re-accelerate moderately throughout the rest of this year.

 

Written by KCM Crew

Source: https://www.keepingcurrentmatters.com/2019/05/16/what-is-really-happening-with-home-prices/

May 16, 2019   No Comments

Why Access Is One of the Most Important Factors in Getting Your House Sold!

Why Access Is One of the Most Important Factors in Getting Your House Sold!

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you through the entire process, and they have asked you what level of access you want to provide to your potential buyers.

There are four elements to a quality listing. At the top of the list is access, followed by condition, financing, and price. There are many levels of access that you can provide to your agent so that he or she can show your home.

Here are five levels of access that you can give to buyers, along with a brief description:

  1. Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
  2. Providing a Key to the Home – although the buyer’s agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.
  3. Open Access with a Phone Call – the seller allows showings with just a phone call’s notice.
  4. By Appointment Only (example: 48-Hour Notice) – Many buyers who are relocating for a new career or promotion start working in that area prior to purchasing their home. They often like to take advantage of free time during business hours (such as their lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in advance or may be unable to wait 48 hours to see the house.
  5. Limited Access (example: the home is only available on Mondays or Tuesdays at 2 pm or for only a couple of hours a day) – This is the most difficult way to be able to show your house to potential buyers.

With more competition coming to the market this spring, access can make or break your ability to get the price you are looking for, or even sell your house at all.

 

Written by KCM Crew

Source: https://www.keepingcurrentmatters.com/2019/05/06/why-access-is-one-of-the-most-important-factors-in-getting-your-house-sold/

May 13, 2019   No Comments

What Would Make You Sell Your House?

What Would Make You Sell Your House?

There are many reasons why a homeowner decides to sell their house and move. The latest Generational Trends Report from the National Association of Realtors asked recent home sellers to share their reason for moving.

The younger the respondents, the more likely their top response centered around needing a larger home (ages 29 to 53). Relocating for a job was the top reason for those ages 54 to 63 and the second most popular response for those under 53. The chart below shows the breakdown for these two reasons.

What Would Make You Sell Your House? | Keeping Current Matters

For homeowners over the age of 64, wanting to be closer to friends and family served as the top motivator to move. Downsizing to a smaller home or moving due to retirement came in as a close second and third.

What Would Make You Sell Your House? | Keeping Current Matters

Have you outgrown your current house? Are you a homeowner who can relate to wanting to be closer to family and friends? Is your house becoming a burden to clean now that the kids have moved out?

Bottom Line

Contact a local real estate professional who can help set you on the path to selling your current house and finding the home that fits your needs, today!

 

Written By KCM Crew

Source: https://www.keepingcurrentmatters.com/2019/04/30/what-would-make-you-sell-your-house/

May 10, 2019   No Comments

Tips For Redecorating While On A Budget

Most homeowners have a desire to decorate in a manner that suits personal tastes while also being visually appealing. All those home magazines make it look so easy, but can also come with steep prices. When you are limited to a budget that’s somewhat smaller, you can still achieve the look you desire without breaking the bank.

Reuse

Before you start buying new furniture, bedding, and fixtures that will quickly eat through your budget, start by taking an inventory of what you already have. Think about ways that things can be reused. Simple furniture pieces can be painted or even just have the hardware changed out that will change the way a piece looks.

Many types of furniture can serve a different purpose. An unused dining table can become a desk. That old sofa table can be used as a mobile bar if wheels are added. Even a broken dresser can be salvaged and transformed.

Simple Appearances

Bigger is not always better. Sometimes a few simple changes can make a big impact, with minimal expense. Updating paint colors or just adding an accent wall is one way. You can also change out throw rugs and light fixtures. A small thing, like changing lamp shades or the glass covers on your ceiling fans or overhead lighting, can have a big visual impact as well.

Add covers to pillows and duvets to bedspreads. But what is a duvet? Think of the duvet like a pillow case for bedspreads. You can put an existing bedspread inside the duvet and create an entirely different look. Duvets and pillow covers can be purchased in a variety of patterns and colors, but you could also make your own if you want something more custom.

Thrifty Shopping

If you still plan to make some purchases, consider used pieces. Second-hand or thrift stores are often great places to buy décor items without spending a fortune. Wholesale, liquidation, and salvage places can also help save some money. Remember to consider possible alternate uses for items as well.

Keep your eyes open for things that people are trying to sell, too. Visit yard sales and flea markets. You can find a wide variety of items that people are selling for low prices. Swap meets are also good places to locate what you might need, while giving you the opportunity to get rid of something that no longer suits your tastes or needs.

Artwork

An alternative to pricey reprints, or even more expensive originals, is to create your own artwork to display. Try your skill at painting or decoupage. Frame your child’s latest art piece. You can even find free artwork to print and use at home. Spruce up some old wooden frames. Things like foiling and sponging can help you turn drab frames into decorative displays.

One at a Time

The most important thing to remember is to take it one step at a time. Try not to redecorate every room at the same time. You may need to divide your budget into chunks for each room that you want to redecorate. If you go room by room, you may find that you have some money left over that can be used for other rooms. By going one room at a time, you can avoid getting overwhelmed because you have taken on too much at once.

There are numerous options for redecorating on a budget, regardless of how small that budget might be. In your redecorating efforts, you can make huge changes just as easily as you can make small ones, both impacting the final result of a room. In the end, your home can be a display of the things you enjoy in an atmosphere that best suits you.

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Source: https://realtytimes.com/consumeradvice/homeownersadvice/item/1018475-tips-for-redecorating-while-on-a-budget?rtmpage=null

April 25, 2019   No Comments

6 Ways to Update the Look of Your Bathroom Without Doing a Full Reno

The average cost of a midrange bathroom renovation is more than $20,000. If you kick that up to the “upscale” level, it’s almost $65,000. Yikes! Luckily, there are lots of little changes you can make in the bathroom to make it feel new again—or at least less old. They range in price from the cost of a family outing to the movies (with popcorn), to the cost of a couple of airline tickets to Hawaii (during a really good sale).

Go frameless

It’s not cheap to convert an outdated shower to something more updated. Frameless glass will give you the sleek look you want, but be prepared to spend a good thousand bucks for the glass and the installation.

But add frames here

Frames around your mirrors give the space a more finished look. Companies like Mirrormate offer a custom solution that allows you to choose from tons of finishes and have the frame made to the size of your mirror. Of course, you could save a bunch of money by doing it yourself with some molding and a miter saw.

Paint it

You can completely change the look of your bathroom by slathering a fresh coat of paint over tired cabinets. Brush on a couple of coats of white paint over that chipped and dingy dark wood (but be sure to fill in those chips first!) and you’ll be amazed at how great your space can look.

Add some jewelry

Cabinet hardware can take boring, old cabinets and give them a little sparkle. Don’t be afraid to go bold or do something a little different. When you go to sell your home, you can always change them out for something more neutral for minimal cost and in a matter of minutes. This template will make installation easy.

Change out the faucets

You don’t have to get a whole new vanity to give you space a newish feel. Swapping out old faucets for something a little fancier will give the bathroom a lift. Do yourself a favor and take a picture, and measurements, of the existing faucet to take with you when you go shopping. Ask a salesperson to help you match the size and configuration so you don’t have to create any new holes in your bathroom countertop during installation.

Get new lighting

Builder grade is builder blah. For as little as about $100 (less if you catch a great sale!), you could replace your boring light fixture with something that’s really illuminating. It’s not a top-to-toe reno, but little details like this are sure to make you smile.

 

Written by Jaymi Naciri

Source: https://realtytimes.com/consumeradvice/homeownersadvice/item/1026645-6-ways-to-update-the-look-of-your-bathroom-without-doing-a-full-reno?rtmpage=

April 9, 2019   No Comments