Tag Archives: Real Estate

4 Reasons to Take Your Own Car When Viewing Homes

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4 Reasons to Take Your Own Car When Viewing HomesWhen you’re in the market for a new home to buy, your real estate agent will likely invite you to ride along with them to view homes. This is a convenient courtesy, but you may want to reconsider. Your other option is to follow the real estate agent in your own car instead.

Here are some reasons to take your own car when viewing homes:

1. It Gives You Time To Confer With Your Partner

After you’ve looked at one house, getting back into your private vehicle with your partner allows some time to openly talk about the house you just saw without worrying about how it may influence others. 

2. It Lets You Drive Slower

Real estate agents do quite a bit of behind-the-scenes preparation when showing homes. They may have driven to a property several times before they bring you to see it. As such, they may drive with the intent of “getting there,” while you may might like to drive slower so you can see more of the area.

When you follow behind in your own car, you can take your time or even slow down more if you see something of interest, like a park or an interesting coffee shop.

3. It Lets You Contemplate Specific Features

When you get back into your own car after viewing a house, you and your partner can sit in comfortable silence if you wish to think about certain features you really liked. This is also an opportune time to make mental notes of features you’d be interested in seeing in future houses. Once you get your list together you can talk about it later with your real estate agent.

4. It’s More Convenient If You Decide To Make An Offer

Let’s say you’ve just seen the house that you are positive you want to buy. You ask your agent to make a formal offer. Now the agent has to head back to the office to submit the offer.

If you’ve driven your own car, you can simply part ways and you go back to work or home and await the results. Otherwise, there’s a delay on the submission while the agent drops you at your house first.

The next time you spend an afternoon looking at houses with your agent, consider taking your own car. As you can see, it’s the smart option.

Partnering with a trusted home mortgage ptofessional is another important part of your home buying experience. Be sure to make contact to discuss current financing options and to get your pre-approval before you start house-hunting.

New Home Prices Going Down Making Them More Affordable

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Residential real estate developers in America are responding to a national slowdown in new home construction by building smaller homes that are more New Home Prices Going Down Making Them More Affordablemodestly priced. The demand for smaller, less expensive homes is growing, while the overall demand for new custom homes is declining. Prices decreased slightly, by about one-half percent, from the price levels in 2018 for newly-constructed homes.

Lower Profits For Builders

The median price for a newly-constructed home in America is $372,900. The median sales price of an existing home is $309,700.

American construction companies are feeling the pressure to build lower-priced homes along with the increased costs for imported building materials due to the tariffs and a labor shortage. This is lowering profits for the construction companies, yet creates a buying opportunity for those looking for a new home.

Lower New Home Inventory Levels

These pressures caused new home inventory to decrease by 1% from the 2018 levels. To put this in perspective, the inventory of new homes only decreased this much in 2013. Even though mortgage loans are easier to come by than a number of years ago, there is not the same demand as before for new homes. Perhaps, this is an advance indicator of an upcoming slowdown.

Down-Sized Demand

The U.S. Census reports that the average size of a new home went from 1,660 square feet in the 1970s to 2,687 square feet in 2105. In 2018, the average size of a new home was only 2,386 square feet.

During 2018, there were around 119,000 contractor-built single-family new homes that started construction and over 840,000 that were completed.

Other interesting trends reported by the Census about the 840,000 new single-family homes that finished construction in 2018 include:

  • 783,000 of the new homes have air-conditioning installed, which is 93% of the total.
  • 778,000 of the new homes have wood frames.
  • 59,000 of the new homes have concrete frames.
  • 336,000 of the new homes have a heat pump.
  • 270,000 of the new homes have a porch or patio.
  • Only 10% or 84,000 of the new homes have two bedrooms or fewer.
  • About half or 376,000 of the new homes have four bedrooms or more.
  • 31,000 of the new homes have one and one-half bathrooms or fewer.
  • 306,000 of the new homes have three or more bathrooms.

Conclusion

Builders who offer smaller, lower-priced homes are still experiencing strong demand. In fact, the demand for these modest homes is growing. This trend is likely to continue for the time being.

If you are in the market for a new home or interested in refinancing your current property, be sure to contact your trusted home mortgage professional.

4 Simple Tips For Staying Organized With Kids

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4 Simple Tips For Staying Organized With KidsIt can be challenging to be organized when you have children. But this is only because, as a devoted parent, you want to be sure your child has everything they need to become happy, well-rounded adults some day.

This usually means you’ll be bringing your kids to extracurricular activities, play dates, fun events and family outings. It also typically means that over the years there will be a steady stream of school supplies, toys, new clothes and maybe even a musical instrument or two. So how can busy parents stay organized with kids? 

Share A Calendar

Depending on how you prefer to organize your days, consider sharing a digital or paper calendar with the entire family. Family members can add events as needed and everyone can access the latest updates. This way, no one gets caught off guard when the dinosaur diorama is due on Monday morning or your child’s ballet recital gets moved from Friday to Saturday afternoon.

Don’t Be Too Detailed

Toys and art supplies have a way of ending up on the living room floor no matter how many tidy storage bins are in your child’s room. Try keeping a large wicker laundry basket in the corner of the living room and let your child pile their things randomly inside the basket. This allows for fast cleanups and doesn’t require you to supervise the “organization.” It also lets smaller kids feel like they’re being a big kid by helping to straighten up.

Store Papers In Accordion Files

Keep accordion folders on hand in the kitchen for when your child comes home with artwork or papers with A grades. Have one accordion file for each month, because they will fill up fast. At the end of each month, go through and filter out anything you don’t want to save permanently. With this method you’ll automatically have your child’s best papers saved according to date.

Do Things On The Same Day

It’s surprisingly helpful to make a practice of always doing certain things on certain days. For instance, every Saturday is bath night, or every Wednesday is change the sheets day. This lets kids know what to expect in their lives and makes it easier for parents to remember things. 

Children add so much joy to parents’ lives. When you’re organized, you’ll probably find that you have even more time to share with your little loved ones.

If you are in the market for a new home or interested in refinancing your current property, be sure to contact your trusted home mortgage professional to discuss current financing options.

 

 

 

 

How Long Should I Spend Looking For a New Home?

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How Long Should I Spend Looking For a New HomeWhether you’ve been looking for a home for a long time now, or you’re just about to get started on the hunt, you’re probably wondering how long should you spend looking for a new home. Does it take weeks to find your forever home, or months or even a year? What’s typical?

There Is No Typical

The reality is, there is no typical amount of time it takes to find your home. There are too many variables, including how actively you’re looking. Maybe you’ve heard horror stories of people who’ve been hunting for a house for a year. But come to find out, they’ve only really devoted one weekend a month to looking at houses.

Or you’ve heard of a couple who found their dream home in just two days. Well, odds are they spent many nights online, sifting through hundreds of house images and only went to see a handful of homes in person which really met their search criteria.

The Market Plays A Part

It takes longer to find a home when the market is slanted toward sellers. In times like that, there’s less inventory and the houses that are available may be out of reach financially. Keep looking, though, because your real estate agent may find the ideal house on the market from a motivated seller who’s wiling to come down on the price. Hang in there and you’ll find your dream home in any market.

Does Your Dream Home Exist?

If you feel like your home search has been dragging on despite a favorable market, it could be you’re looking for something too elusive to find. Maybe it’s not the houses you’re dissatisfied with, but something else. You may be unconsciously trying to recapture something you’ve lost, like your old childhood neighborhood or a feeling of community.

These are all valid desires that you can acquire with the right home in the right place. Try to identify what you’re really looking for so your real estate agent can help you find it. 

When it comes to finding your home, it takes as long as it takes. Be sure to secure your pre-approved financing with your trusted home mortgage professional and enjoy the process. Communicate with your real estate agent and try to keep an open mind. One day, when you least expect it, you’ll walk through the doors of your next home for the first time. 

Smooth Move: Do These Six Things When Transitioning Towns

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Smooth Move Do These Six Things When Transitioning TownsIt can be physically and emotionally challenging when moving from one town to another. There are lots of things going on at once; the actual packing and moving your belongings, saying goodbye to friends, changing jobs and just getting used to a new way of living.

It can be stressful, but it doesn’t have to be. Try these six tips for a smooth transition.

1. Let Go

Try to look forward instead of back. You will certainly want to remember all the wonderful moments you’ve had in your “old” town, but give yourself permission to be excited about your new place to live. Leave the past in the past while still treasuring the times you shared with friends and loved one. This will enable you to fully open yourself to new possibilities.

2. Learn Your Way Around

Do some exploring in your new town. If possible, stroll or bicycle around to acclimate yourself to your new surroundings. If it’s too far away and you haven’t yet moved, use Google Earth’s street view to wander around virtually. Locate the places you’ll definitely need, like the post office, coffee shop and dry cleaners. 

3. Join Local Groups

Do a search for Facebook groups in your new town and ask to join. You’ll get a sense of the community and get better tuned into what resources are available and what people are talking about. Try searching Meetup groups in the new town for activities in which you’re interested.

4. Plant Roots

Make your new house a home by planting some pretty perennials out front or creating a vegetable garden out back. When you literally plant roots, you’ll feel more like you really belong.

5. Get Involved

It’s hard sometimes to make new friends as adults, especially out of work. But if you make an effort to get involved in the community, you’ll likely find that people are eager to get to know you. Keep your eyes and ears open for ways to join in with community events.

6. Fling Open The Doors

Say yes to life. You’re in a new town, and this is the perfect time to start new projects, try new things and meet new people. Try doing something new at least once a week. You just might find a new favorite activity or a new friend.

These six tips for transitioning to a new town will help you begin your new life with a positive outlook. Remember, there’s no time like the present to start the future!

One of your best assets to navigate the properties in a new town is an experienced real estate professional. Be sure to make contact with your wish list before you start your search.

If you are in the market for a new home or interested in refinancing your current property, be sure to consult with your trusted home mortgage professional to discuss current financing options.

 

Using Smart Home Technology To Help Sell It

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Using Smart Home Technology To Help Sell ItSmart home technology is useful for many reasons. It improves security, helps improve energy-efficiency, and makes it more convenient for the home’s occupants. There is also a new trend in the use of smart home technology as a sales tool to help sell a home or a condominium.

A real-estate agency in Atlanta, Georgia is using Alexa® devices, along with nicely-framed display cards, to help prospective buyers learn more about a condominium that is for sale in the Districts Lofts building.

There are now more than 53 million personal assistant devices, such as the Alexa® device from Amazon and the Google Assistant®, which are in use. Many people are very comfortable using them to ask questions and get the answers spoken back to them in a calm, soothing voice.

Alexa® Tell Me More

The innovative trend in home sales is to place an Alexa® device in each room, preprogrammed with the answers to frequently asked questions. Display cards that sit on the counter next to the Alexa® device encourage the potential buyer to says things like “Alexa, tell me about the kitchen.” or “Alexa, what are the amenities in the neighborhood?”

These systems work with chatbot technology that uses artificial-intelligence, voice-recognition programming to understand the questions and provide the answers from a stored database of information. Also, if the chatbot cannot answer the question, the Alexa® device can connect the potential buyer to a live human operator to answer the question.

Friendly, Effective, And Cost-Efficient

Using the Alexa® device and similar devices can be less intimidating for many people than having to speak with a human salesperson. These devices can deliver the answers in a professional and consistent way.

Not needing to have a human being waiting around for a potential customer saves an enormous amount of labor expense and time. Moreover, the Alexa® device can be always available for extended hours to show a model unit when it is convenient for potential customers.

Conclusion

Using Alexa® devices to better inform potential buyers is interesting. The devices can be preprogrammed with all the information needed and can also collect customer information, which the customers voluntarily give, for follow-up purposes.

After Alexa® answers all a potential buyer’s questions, it can then ask them if they would like a brochure emailed to their email address to build up a mailing list for the real estate agency. This kind of personalized customer service, using advanced technology, is the wave of the future for real estate sales.

Of course, technology can only go so far. Your professional real estate agent and mortgage lender are the best resource for making a decision on which home is the right one for you and helping you negotiate your best deal. 

6 Smart Ways Hardware Can Upgrade Your New Home

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6 Smart Ways Hardware Can Upgrade Your New HomeDecorating and putting the finishing touches on your new home is definitely one of the most fun parts of moving. It’s satisfying to fill your new home with furnishings and décor choices that reflect your personality and lifestyle.

One of the most overlooked aspects of decorating is the hardware. However, hardware changes can dramatically transform your home in unexpected ways. Here are some ideas to use.

Install A New Door Knocker

If your new home has a door knocker, replace it with a new one. If it doesn’t already have one, it’s easy to install a door knocker using a simple household tool box. 

Install A Peephole

Your front door will be more secure with a peephole installed. Modern peepholes give a broad range of vision that will allow you to see to the far right and left of the front door. Be sure to install it low enough that older kids can look out of it easily, too.

Replace Doorknobs

If your new home is actually just new to you, it may have old and worn doorknobs. New doorknobs will make the actual door look brand new, too. Consider decorative doorknobs, which are a step above the standard brass doorknobs we’re all familiar with. If you aren’t comfortable replacing doorknobs, consider hiring a handyman or locksmith to do it for you.

Upgrade Wall Outlet Covers

Wall outlets are in every room, yet few homeowners think to upgrade them. You can find decorative wall outlet covers in various patterns, colors and images in hardware stores and online. If the idea of switching out all your wall outlet covers is overwhelming, consider just a few in special places, like your child’s bedroom or in the kitchen.

Upgrade Lighting Pull Cords

Those ceiling light pull cords leave a lot to be desired. Most of them are utilitarian but definitely not decorative. Consider adding an attractive fob to the end of each lighting fixture pull. Your local hardware lighting section will have many to choose from, and they’re very easy to install with not tools at all.

Replace Kitchen Cabinet Handles

Your new kitchen cabinets will get a facelift when you replace the old handles with new ones. Be sure to also get matching drawer pulls for the best overall effect.

Now you can see that changing out or adding new hardware can make such a big difference in the way your new home looks and feels. Just one afternoon of doing this easy project will make your new home look amazing for years to come.

If you are in the market for a new home or interested in listing your current property, be sure to contact your trusted real estate agent.

Four Key Injury Prevention Tips On Moving Day

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Four Key Injury Prevention Tips On Moving DayIt’s more likely that someone will incur an injury on moving day than on an ordinary day. The reason is that people are moving in ways that they don’t normally move, loads can be heavy, and accidents do happen. However, most injuries on moving day can be prevented by taking a few simple precautions.

Use A Dolly

Instead of trying to move more than one box by hand, use a dolly or a hand truck. This inexpensive tool can safely move multiple boxes without you having to lift anything at all. Keep in mind that all the boxes should be of equal size; don’t attempt to stack uneven boxes because they may shift and fall, causing an injury.

Take Breaks

Moving day is stressful because there is often a time constraint involved. Everything has to be moved into the truck by a certain time in order to remain on schedule. However, this is the kind of pressure that can lead to injuries. Being overtired leads to carelessness and that’s when accidents occur. Take multiple 10-minute rest breaks throughout the day so your body and mind have a chance to recuperate.

Don’t Overload Boxes

One of the most common moving day injuries happens when someone tries to lift a box that ends up being excessively heavy. Be mindful of the weigh of each box as you pack it. It’s better to keep the weight reasonable and stuff the box with filler than to overload boxes. You don’t have to weigh each box, but just give it a gentle lift to monitor how heavy it’s getting as you pack it.

Send Smaller Kids Packing

If you have smaller kids, the best option is to send them to the parents’ house, or to a babysitter’s until everything is in the truck. Smaller kids may run around and trip you up, distract your attention or otherwise get injured.  

Even the backyard is not a great idea, because they may wander near the truck out of curiosity. For their safety and yours, consider having someone care for them for the day off the premises.

Finally, if you do feel a twinge in your back or get overly exerted, stop what you’re doing and sit or lay down for a few minutes. Don’t try to “push through” the pain; it’s not worth it. Moving day injuries can be minimized or prevented when you take these simple steps. 

If you are in the market for a new home or interested in refinancing your current property, be sure to contact your trusted home mortgage professional to discuss current financing options.

Young Home Buyers Are A Growing Trend

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Young Home Buyers Are A Growing TrendA new group of young American adults is emerging as home buyers. These are the young adults who were born after 1995 and are part of the demographic group named Generation Z (Gen Z). In 2019, there are 31.5 million Gen Z members who are adult age. This will increase to 44.5 million adults in this demographic group by 2032 as all the younger members become adults.

Right now, there are around 14 million adults in the Gen Z category who are using credit for the first time.

Not Too Young To Buy A Home

Transunion reports that most Gen Z members are getting credit cards, which is the easiest form of credit available to them. However, they are also applying for mortgage financing in record numbers. The year-over-year increase in home loans among this demographic group is up 112%.

Planning For The Future

In a study conducted by Bank of America, the majority of Gen Z consumers, who are between 18 and 23 years old, are already saving for the down payment needed to buy a home. A huge number of them, 59%, report that they plan to purchase a home during the next five years.

Most dream of owning a home before they are 30 years old. They want to buy modestly-sized and lower-priced homes. They have a high interest in homes that are energy-efficient, homes that use smart technology, and those with renewable energy systems.

Smart Homes And Smart Financial Planning

Many of this generation are still living with their parents to save money for a home purchase, which they would otherwise have to pay in rent. Having lived through the Great Recession in 2008, they are, in general, more pragmatic than previous generations. They take home ownership very seriously.

Manifestation Of The American Dream

Over 71%, of those desiring to buy a home, are already designing it in great detail by selecting things they find on the Internet, which appeal to them. They use social media systems like Pinterest and others to get interesting decorative ideas. They share their home decor ideas with friends.

Conclusion

REALTORS® who work with this new group of home buyers will likely find them more motivated to buy a home than previous generations. They are usually more dedicated with their serious financial planning efforts in how to go about achieving their dreams.

The Generation Z consumers know what they want. They are willing to make sacrifices to get it. The majority want a home and are making plans about how to pay for it.

If you are in the market for a new home or interested in refinancing your current property, be sure to contact your trusted home mortgage professional to discuss your financing options.

Are Tiny Homes Here To Stay?

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Are Tiny Homes Here To StayThe average size of an American home has been increasing since the 1970s. The American Enterprise Institute (AEI) reports that, in 1973, the median size for a new home in the United States was 1,660 square feet.

Over the past 45 years or so, this increased by more than 1,000 square feet. The median size of a new home is now 2,687 square feet.

The Problem With Big Houses

At first, a big house is appealing until one tries to clean it or pay the utility bills. Many baby boomers, who are now nearing retirement age, are downsizing, especially if their children have all moved away.

Moreover, Millennials are the first generation of Americans to experience a reduced standard of living when compared to their parents.

Many millennials see big houses as wasteful, environmentally destructive, and not sustainable. Also, with the challenge of paying off massive student debt, these young adults are delaying buying a home or may remain renters for their rest of their lives, foregoing the chance to have their own home.

One solution for the problems with big houses is to make homes smaller.

The Tiny House Movement

There are strong motivators for the social trend called “The Tiny House Movement.” Many want a smaller space to live in, which they can more easily maintain and afford. Tiny houses are no more than 400 square feet. That is like living in a compact studio apartment.

TheTinyLife says that tiny houses are being built all over the country. They come in almost any style imaginable. The median price for a quality tiny house is about $40,000, although do-it-yourself types can build one for a lot less.

Some are built on a trailer bed that makes them portable. Others are built to function properly in off-grid locations using solar power. There are even tiny houses that have been printed using 3-D printing technology.

Tiny houses can be luxurious, or they can be built to provide inexpensive solutions for housing that helps the homeless.

The Denver Tiny House Community

Denver is trying an experiment with a group of tiny houses called The Beloved Community Village. This is a group of private one-room units that share a communal kitchen and bathrooms. They started with 11 units and plan to expand to 20.

The challenges they experienced were not necessarily construction related. They needed to change the zoning and occupant density rules to allow the development.

Summary

People make a conscious choice to simplify their lifestyle for the freedom that a minimalistic philosophy brings. It is quite possible to live well while also living with less. Tiny houses may even be part of the solution for the approximately half a million homeless people living on the streets in America as the successful tiny house community village in Denver is now demonstrating.

If you are interested in a new home or in refinancing your current property, be sure to contact your trusted home mortgage professional.