Sunday, July 25, 2021 / by Kenneth Brands
Interior design has a fresh look! After years of subtle trend changes, this years' style gets a complete makeover. Spaces are being lightened, softened, and eclectic merging of styles encouraged. If you’re ready for a change, the good news is... almost anything goes! Find the trend that suits you and experiment with new textures, colors, and styles!
1. Home Office – Not surprisingly, homeowners are carving out specified office and workspace.
2. Separated Rooms – The open floorplans are not exactly gone, but new designs are separating spaces into separate areas.
3. Houseplants and Indoor Gardens – Herb gardens and houseplants offer a soothing, natural environment.
4. Rattan – Natural materials are having a huge moment and rattan furniture and accents are everywhere.
5. Wood Grain – Furniture and cabinets with strong wood grain warm up living and kitchen areas.
6. Playgrounds – Backyard playgrounds have been taken to the next lev. ...
Monday, July 5, 2021 / by Kenneth Brands
Home sellers assume they must make some upgrades before putting their home on the market. While any deferred maintenance or extreme wear-and-tear issues should be addressed, major upgrades or updates may not net more money when you sell; especially with millennial buyers, who are looking for their first home in droves.
6 Common Upgrades Millennial Buyers Won’t Pay Extra For – and 1 They Will
1. Professional Landscaping – Although a nicely maintained yard is attractive to all buyers, over-the-top landscaping with special hardscapes or fountains will not appeal to millennials.
2. Upgraded Utilities – You may appreciate the new plumbing, but buyers will not pay more for copper or PEX pipes or the brand-new junction box.
3. HVAC – Again, new systems are appreciated, but buyers won’t offer more for the latest systems.
4. New Roof – A leaking roof will certainly lower the sales price but replacing one will not have the opposite effect.
Thursday, July 1, 2021 / by Kenneth Brands
Buying or selling a home can be stressful, even in normal times. Right now, when the housing market is moving at a frenetic pace, both buyers and sellers are making quick decisions and are feeling extreme pressure. As the tension rises, it can be easy to overlook the end goal; right-sized home, relocation, dream home, etc. Try not to lose focus!
Facing a very tight inventory of available properties, buyers have limited time to arrange to tour homes and knowing they must make a quick decision once they have. Buyers do not have the luxury of a second look or hesitation and often are competing against multiple offers, adding to the pressure.
Sellers are also feeling the challenge of the frantic pace. While it is nice to have multiple offers from which to choose, the fact that the offers are at times being made sight-unseen means that some of the offers may not be the buyer’s first choice and they could lose a “real” offer b. ...
Friday, June 25, 2021 / by Kenneth Brands
Real estate prices across the country have increased dramatically in the past year. With increases in the 10-12% range, many potential homebuyers have given up and decided that homes are just too expensive to consider. While homes have become more expensive, it does not mean they are unaffordable.
Would you believe that we are experiencing a historically favorable market for buyers when it comes to affordability? Why? This is because affordability involves more than just the purchase price of the home. When considering whether you can afford a home, you must include wage growth and interest rates.
Interest rates are among the lowest we’ve seen in decades. In addition, wages are increasing at a staggering 7% rate year-over-year. For example, a median household income of $68,000/year with a 7% wage growth, will see an extra $400/month.
The median home price is about $325,000. If we add a 10% growth factor to this, that same home would sell for $357,500. At a 3.5% interest rat! ...
Tuesday, June 1, 2021 / by Kenneth Brands
It’s no secret that most of the country is experiencing a strong seller’s market. With more homebuyers than inventory, most sellers have been delighted to sell quickly and often with multiple offers. Yet, some homes are still sitting on the market and these sellers may be wondering why.
Here are 7 reasons why your home listing is not selling:
1. Overconfidence – While many homes are being snapped up on day one, this does not mean you can avoid the basics of good marketing, professional photos, and open houses.
2. Overpriced – In a seller’s market, home prices do advance, but a dramatically overpriced home will still sit unnoticed.
3. Appearance – With low inventory, homebuyers will compromise on some issues, but properties in need of major TLC or extensive deferred maintenance will not hold mass appeal.
4. Title Problems – Title issues are more common than you think. Old judgments or messy probate can take time to resolve and in a fast! ...