Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

 
March 13, 2020

Spring 2020 Home prep

As we head into March and the weather starts to warm up a bit, now is a great time to think about home improvement projects to build equity in your home and make it more beautiful. I’ve also included some tips to help turn your neighborhood into a community and how to get ready for a home inspection. If you have questions about buying or selling, let me know! We're always here to help.     Glenn & Sheri

 

5 Simple Ways to Build Home Equity

Building equity in your home is a great way to accumulate wealth, but it is usually a process that takes a lot of time, money, energy, and patience. However, here are some ways to earn quick equity returns.

Maintenance

Before you start thinking of ways to create equity, consider what you can do to maintain your current equity. Keeping up with routine maintenance and fixing problems as soon as they arise will help your home stay in good shape so that you don’t lose out on existing home value.

Landscaping

Nice landscaping increases your home’s curb appeal, which can add thousands of dollars to your home’s value. Investing in quality landscaping is often the quickest, easiest way to earn a home equity boost. 

Outdoor upgrades

Replacing torn window screens, updating the paint on your porch, replacing your front door, and other small projects can dramatically improve your home’s curb appeal. This, in turn, can be a quick and easy way to improve your home’s value and the equity you have in it.

Indoor updates

Some projects like a full kitchen or bathroom remodel will add a lot of value to your home, but they’ll also cost a lot of money. Some simpler projects like repainting your cabinets, updating your appliances, or checking your attic insulation can improve your home without emptying your wallet.

Raise your payments

Another way to build equity in your home is to pay down your loan. Add extra money to pay down your principal loan or make additional payments on your loan to earn additional home equity.

 

How to Be a Good Neighbor and Build Community

Building community in your neighborhood can increase the safety and happiness of the people living there. Whether you’re moving into a new neighborhood or looking for ways to increase the sense of community where you already live, these tips can help you be a better neighbor and foster a sense of community.

Keep your yard tidy.

Strive to add to your community’s value, rather than detract from it, by keeping your home’s yard and exterior in good condition. This includes everything from basic lawn care, like mowing the lawn and putting away your trash cans, to making sure your home’s paint is in good shape.

Lend a helping hand.

If you see a neighbor struggling with a load of groceries or trying to complete a two-person job on their own, offer a hand if you can.

Be considerate about your pets.

You love your pets, but if you’re not considerate, your neighbors may consider them a nuisance. Be sure to always pick up after your pets when walking them. Also make sure your dogs don’t bark excessively when in the yard or when you’re away from home. If you have a cat, don’t let it roam freely around the neighborhood.

Follow the rules.

If you live in a neighborhood with a homeowner’s association, be sure to follow the rules and bylaws they have outlined. This will not only help you avoid costly fines, it will help you stay in your neighbors’ good graces.

Reach out to your neighbors.

Nothing fosters a feeling of community quite like interacting with the people around you. Try giving your neighbors a wave or making small talk when you see them out and about. Inviting them over for a movie or game night is also a great way to build community. 

 

How to Prepare for a Home Inspection

Home inspections are a chance for a homeowner or buyer to learn of any potential problems a home may have. These inspections are often considered a crucial part of the home-selling process. Make sure any inspections on your home go smoothly with these tips.

Turn on the lights.

Turning on the lights gives you a chance to make sure none of your light bulbs are burnt out, thereby avoiding concerns over whether or not those sockets are working. It also makes it easier for the inspector to see where they’re going and to assess your home’s condition more accurately.

Tidy up.

Making sure your house is neat and tidy will ensure the home inspector can quickly and safely make their inspection. Because the home inspector will be evaluating the entire home, remember to tidy up the basement, attic, storage areas, and utilities in addition to the main living areas.

Finish your to-do list.

Most homes have a few minor repairs that need fixing - leaky faucets, running toilets, wobbly banisters, etc. Now is a great time to go ahead and fix those so that they don’t show up on your home’s inspection report!

Whether you’re thinking of buying, selling, or improving your home this spring, I’m here to help. Let me know if you have any real estate questions!



April 13, 2018

Tale of Two Markets

Posted in Market Updates
Feb. 22, 2018

Waiting to save more down payment?

Could saving more down payment Cost you?

Sure, who could argue that more down payment isn't better when buying a home? But can you save faster than mortgage interest rates climb?

Say you can buy a $250,000 home today with your current savings. Your payment is around $1237. But you want to save another $10,000 and drop that payment down some...so you wait...and save. Maybe you can save $800-$850 a month. Meanwhile, interest rates continue their slow climb. A year later, you have the extra $10,000 to put down, but wait...now interest rates have gone up...and so have home prices! Your new payment for the same house isn't lower at all-it's actually...Higher!

Whaaat?! 

 

Look at this graphic to see how it works.

 So after a year of hard saving, instead of getting a lower house payment, you end up paying even MORE! And now, maybe you wish that you'd made your move when the rates were lower and prices were better. The rates aren't likely to ever go back down to the crazy-low levels we saw a few years ago. And the attraction of real estate as an investment is that the values go UP over time-not down.

When asked, "What is the best time to buy a home?" a lot of real estate professionals answer "Today!". That's not a sales pitch or a pressure tactic folks-it's just plain true. The market we've been in for the last several years might best be termed an anomaly-based on some very specific, economic and political factors-not based on history. While the typical real estate market will always ebb & flow, on the whole interest rates and property values tend to move North. So don't be afraid to get out there and see what your money will buy today. There are also some great programs out there for buyers who meet income and household size guidelines to qualify for assistance on the lines of low/no interest loans, deferred repayment loans and forgivable grants. Talk to Glenn or your favorite real estate professional to learn more. And do it today. 

 

Posted in Market Updates
Jan. 3, 2018

5 Tasks Every Homeowner Should Do in January

July 31, 2017

Curious About Local Real Estate?

View More
Posted in Market Updates