Buyers Are Returning To The Market!
In mid-March, the housing market saw a steep decline in buyer traffic and showings. This shift in the business caused some uncertainty about what the near future would look like for real estate. However in recent weeks, we have seen positive signs that buyers are returning to the market and they are in need of listings to view. While we will continue to monitor these early indicators, it forecasts good news for the market. According to a recent report from Zillow, online searches for for-sale listings has risen to levels comparable to past markets. While this may seem like an obvious result of people staying at home and browsing online for dream homes, showings are picking up as well. It was recently published that scheduled showings, both virtual and in-person, have been increasing week-over-week since mid-April. This rebound is a 39% growth from the decline two weeks prior. From online viewings to showings and sales, these are just a few of the positive signs that we are still rocking and rolling in the real estate world. While the buyers are actively looking we are also still needing sellers to list their homes. If you are ready and able to do so, this could be a great time for you to put that for sale sign in your yard. In a recent survey by realtor.com, people thinking about selling their homes indicated they are generally willing to allow their agent and some potential buyers inside their home if done under the right conditions. They are less comfortable, however, hosting an open house. This is understandable, given the health concerns associated with social contact these days.
As your agent, and a trusted advisor, it is my responsibility to make sure all my clients are informed about the current market conditions, the virtual practices that will ensure a safe process, and the game plan I have to effectively sell their home. In today’s rapidly changing market, this is more important than ever. And some of these new practices might be here to stay.
The Bottom Line
In a new era of life where things are quickly changing, opening your doors up to virtual approaches is critical when it comes to helping clients buy and sell homes. I have a digital strategy to help all my clients navigate through all of the new changes in today’s market. And with buyer demand increasing, the opportunity is there to bring new listings to the market. I would love to go with you on your journey of either finding you that dream home or helping you sell your current home. Please call me today and let’s get moving together!
Tips to Selling your Home This Fall
Check out my tips to selling your home this fall!
Add some Curb Appeal to Enhance the Outdoor Experience
Leaf covered sidewalks can make a perfectly nice home look sloppy and poorly maintained. Use a leaf blower daily to keep leaves, branches, and outdoor dirt off the walkways, and do your best to keep the yard clear of leaves, too. Add fresh mulch to garden beds so they look their best.
Rinse loose dirt from your home’s siding one last time before the temperature drops.
Another challenge for buyers in the fall and winter is that everything usually looks dull and drab. The lot lines are not as visible covered with snow and leaves, so it’s difficult to get a sense of the outdoor space unless it is clearly defined. Define property boundaries with brightly-colored flags tied to stakes, and place them at the four corners of your property.
If the climate allows, keep outdoor furniture on your patio so they can get a better feel for the outdoor living space.
Let There Be Light
Retract blinds, and widen curtains, so there’s minimal window coverage. The windows will look bigger, and it’ll encourage daylight to flow into your space.
Experiment with your lightbulbs to find the most flattering hues for your space. A bathroom looks great with daylight bulbs (5,000-6,500K) and living spaces, such as bedrooms and living rooms, look best with soft white bulbs (2,700K). In general, your home’s design and color palette will play a part in what looks most appealing. Go for cozy and bright. If you’re upgrading bulbs in hard-wired fixtures, consider going all LED. Let the buyers know you’re leaving the bulbs for them.
Deep Clean: A Few Places You Might Forget About
Clean inside the cabinet beneath your sink. It’s likely they’ll glance at the plumbing, and they’ll notice if the plumbing and inside of the cabinet are dirty. Clean it well, consider adding a new piece of shelf liner on the bottom, and install slide out drawers or extra utility that’ll be appealing. Make shower heads look like new. Dust ceiling fan blades and the inside of your dishwasher and washing machine. Don’t forget all the nooks and crannies in the kitchen.
Be Sensitive to Seasonal Décor
Both in your listing photos and in real life during showings, keep the seasonal décor at bay while you’re trying to sell. No one expects a home to completely lack holiday decorations during these months, but simplicity is appealing. Opt for modest, neutral accessories — think white string lights or a Christmas tree that truly flatters the space.
Do you have vaulted ceilings? You’re green-lighted to get a big tree, so buyers can appreciate the spectacular height of the ceilings. One snowy weather accessory that wins us over? A classic snowman in the front yard. Resist the urge to add too many scents to your home – it’ll look like you’re hiding something. An unlit pine candle in a bathroom will appeal to the senses.
Have holiday music playing low on a radio during December. During an open house, offer freshly-baked cookies, pumpkin muffins, or hot cocoa for visitors.
Once you are ready to get your home on the market give me a call, I would love to walk you through everything and help you get your home sold! Contact me here!
Tips to save your down payment!
What Is a Down Payment?
A down payment is the cash you bring to the closing table when buying a home. You may borrow money from the bank in the form of a home loan or mortgage, but a portion of the total cost must come directly from you. The down payment acts as an insurance of sorts for your lender. When you hand over money from your own account, you’re officially invested. By saving up for a down payment, you not only prove yourself to a lender, but you also set your own mind at ease. A sizeable down payment reduces your monthly house payment, allowing you to choose a shorter mortgage term.
How Much Should You Save for a Down Payment?
1. Determine how much you can afford each month
The rule of thumb is to spend no more than 25% of your monthly take-home pay on your mortgage payment. If you tie up too much of your budget in your monthly payment, you leave yourself unprepared to face emergencies or embrace opportunities. Write down how much money you bring home each month. Multiply this number by .25 to find your monthly mortgage amount.
2. Use your monthly mortgage payment to arrive at a total mortgage amount.
When it comes to the type of mortgage you select, we recommend a 15-year fixed rate, which is guaranteed to save you tens of thousands of dollars compared with the traditional 30-year option. Spend some time on our mortgage calculator. Input different numbers into the home value and down payment section with the goal of hitting your preferred total monthly payment.
3. Aim for between 10% and 20% for your down payment.
If you haven’t already, hone in on the percentage that works best for your family. Ideally, you’ll choose to put down 20%, which can lower your interest rate, open you up for a 15-year mortgage, and help you avoid private mortgage insurance (PMI). Multiply the total mortgage amount by the percentage you plan to put toward the purchase of a home. Now you’ve got your savings goal!
ReADY TO BUY OR SELL?
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