HomeBuying

Are you starting your home search? Get off the internet! Here's why a lot of those sites that seem so terrific on the internet might not be the best place to really get going on that home search. You just start poking around and then the next thing you know there's a house you want to see. Make sure that you are connected with, you know, me, or a realtor in your local market that's going to be able to give you the solid data, the actual listing price, and the comparables that are up to the moment in that particular neighborhood and area that you're looking at. Once you're ready to look at real homes in real life, let's set up a meeting in real life and set up a plan that's perfect for you and that home that you know you're gonna love.

Curious about what the market is doing? Here's what's happening, with a few FAQs, a few stats, and a few predictions. Do you have questions? Reach out to me- I'd love to get you some answers! If you've been waiting for a "crash," I hate to disappoint you. While we're certainly seeing something of a shift, that only means that we are heading towards (hint- we're not there yet) what will likely be a more balanced market. That means things will start getting a little easier for buyers, while still being good for sellers. Wait. What? Well, here's what that means- The definition of a balanced market is one in which the supply and demand are, well, you guessed it- balanced. That means if no other homes were listed, it would take about 6 months to sell through the inventory on the market. Where have we been in the last year+? If you look at this graph, you'll see it's actually been nearly 10 years since we've had a true balanced inventory, but  in the last year or two, we've consistently been under one month of inventory. There have simply not been enough homes to meet demand. (The why of all this is a longer story that I won't get into now.) As of May '22, we're at .9 months, and still very much in a seller's market. Because of the length of time it takes real estate transactions to close, these numbers are often lagging indicators. In other words, the data is generally a little old to really be accurate for the moment. What I can tell you is that anecdotally, here's what we're seeing: We are STILL seeing many multiple offer situations. Just more often there are 4-6 offers, rather than 20. (There are still lots of 20+ offers happening, though, on those "perfect perfect turn key" homes.) We are seeing more inspections written in to offers, and more of those offers getting accepted. Whew! This is GREAT for buyers. (Keep in mine, in certain areas, and on certain homes, we're still seeing lots of inspections being waived, so just be aware of that if you know you're in a competitive situation.) We are definitely seeing more price reductions, more homes on the market for a bit longer, and more homes without tight offer deadlines. All of these things mean there is hope for the buyers out there, and while we don't really anticipate prices going down, we do anticipate things getting just a bit easier for the buyers out there. (Finally!) "So, what does this mean for sellers? Have we missed our window?" NO! You have not missed your window. It is still a great time to sell! But, we are definitely seeing things trending more to "normal," which means if you're going to sell, there are some things you'll probably want to do to get top dollar (search Selling Your Home posts here for some of those tips!). Cleaning, using a great agent who actually uses professional photos and markets your home, staging, and doing some repairs and prep work are making a comeback for folks who want to get the most money for their home. Also key? Pricing correctly! That window of exorbitantly high prices that still go for over asking may indeed be closing. Questions? I've got answers. Message me or give me a call. I'd love to help!    

Ugh, I wish I had done that sooner. Now I love my house! I hear this all the time. People do things to get their homes ready to sell, but they don't do them until they're really getting ready to sell. If you know you're thinking of selling your house this year, and you know that there are some things that you're going to want to do to get it ready, start doing those things now so you can enjoy them and not just the new buyers. If you're wondering what that list is, of things that you need to do to get your home ready to sell, give me a call, and let's walk through, get that list together so you can start doing those things that are going to help you not only get the most bang for your buck but help you enjoy the house while you're still living in it. Give me a call or shoot me an email today and let's get a time set up to take a look at your home.

So you want to buy a house in the new year, here are five things that you want to do now to get ready. Surprise, surprise, most of them are going to have to do with money. The first one is going to be your credit score. You can pull your credit score and your credit report all sorts of places for free. Now, you want to make sure that it's at least 620. To get a mortgage at all and at least 700 to get a good rate. Make a budget, look at what you actually spend and where you feel comfortable having your mortgage payment that may or may not be where your rent payment is now, because remember, you're going to have some extra expenses when you buy that home and it's not just the new stuff. Start saving, you definitely don't need 20% of the down payment anymore, but you are going to want to have a little bit extra in the bank to cover all of those things that might come up and closing costs. Be ready to compromise. We're going to talk about this in another video. But this doesn't have to be your forever home if it's your first home. I hope these tips were helpful. If you would like more tips, give me a follow, and if you want to put together a plan to buy a home in the new year. I'd love to help you. Give me a call.

Home Sweet Home The movers are gone, and you’re surrounded by boxes. Overwhelmed? Now what? To get settled in as quickly and as possible, Mary suggests you start with the areas that will allow you to get back into your daily routines - the kitchen, primary bedroom(s) and bathroom(s), and if you work from home, your office. By getting the spaces unpacked and organized first, you’ll be able to quit the take-out meals and get ready for your day without digging through boxes. Unpack methodically - emptying each box and staging items in their new home before moving on to the next box. If you haven’t already, think about your space and how you’ll live in it. Keep your most used items in the spaces that are easiest to access, and keep things near the area you’ll use them. For instance, keep dishes near the dishwasher, and the cosmetics and skincare you use daily in the top drawer of your vanity. Once you’ve got those primary spaces unpacked, start in other spaces you’ll use regularly. We know as well as anyone how tempting it is to head over to The Container Store or Target to buy all of the fun things to get your new home organized. Don’t…yet. It’s important to know what you’ve got and where it belongs BEFORE you buy bins and baskets. As you unpack, stage items in the spaces you’ve designated and see if it makes sense for how you live in your new home. Don’t worry if you need to make adjustments. Figuring out what works best for you and your new space is part of the process. It’s okay to adjust until it’s most functional for how you live. Then, before shopping, measure your cabinets, shelves, and drawers to make sure the new bins/baskets/dividers will fit. It can be hard to get unpacked when you can’t take a hiatus from regular life. Other responsibilities can make it hard to get all of the boxes unpacked. Try to keep unpacking at the top of your priority list until all of the unpacking is done so that you don’t end up shoving boxes in a guest room closet to find them months (or more) later. If it feels impossible to get it all done, consider investing in a professional organizing service to help you get moved in. This can drastically reduce the time it takes to get back to “normal” life. (Organizers can help you through the entire move process - decluttering, packing, and unpacking - and has the tools to help you determine the most functional systems for your new home.) I (Cindy) highly recommend In Good Order to help you get both packed up and unpacked at your new place. Trust me. Especially when you are organizing a brand new (or new to you) space, having a pro there to help you manage, both mentally and physically, can make a huge difference in how you organize your home, and ultimately, how you live in and enjoy it. Do you have more questions about moving? We’ve got you covered!

You’ve signed a contract on a new home and now you’re moving. Which means packing. And finding a mover. And arranging furniture. And unpacking. And finding places for ALL of the things. And. And. And… One of the best ways to ensure a smooth move is to plan. Think about how you will live in your new house. Will you use the front door or the back door - and where will shoes end up once you’ve come in? Where is the most practical place for your vacuum, spare batteries, and wrapping paper? Plan what will go in each closet and cabinet. If you know where things will go and pack accordingly, you won’t stress about those decisions as you’re trying to unpack. Before you start packing, think about what you shouldn’t pack. You’ll want to have some necessities on hand, such as a change of clothes and toiletries, toilet paper, and paper towels to tide you over until the movers are gone and you’re able to unpack. We also suggest moving items yourself that can’t be easily replaced, like medications and your vital documents. You’ll also need packing supplies. We suggest: Moving boxes - try Go Green moving boxes. They’re around the same price as cardboard boxes, and there’s no taping. You’re also not left with a giant stack of boxes to break down and get rid of Wardrobe boxes or large heavy-duty shopping bags for hanging clothes Packing paper and bubble wrap Labels and Markers Hopefully, you read our first post in this series and started purging before your house ever hit the market. But let’s be honest, you can still probably let some things go. Why is it so important to purge before you move? Packing is no fun, so why spend time (and money on supplies) packing items you don’t want or need? You will be paying a moving company to move items you won’t use (or doing it yourself). It will take you longer to unpack, and therefore longer to get settled into your new home. So as you’re packing, ask yourself those same questions - do I need, use, or love it? - and if the answers are no, no, and no, let it go. Pack each box by the type of item(s) and what room it will go to in the new house. Use soft items like towels or linens to line the bottoms of boxes with breakables. Wrap breakable items generously and don’t overstuff boxes. Label each box clearly by room (and which floor if it's a multi-level home) and list the types of items in the box. Group boxes by floor and room. This should make it more efficient for the movers to unload boxes and get them to their appropriate rooms. Does all of this make you want to stay where you are? Hire a professional organizer who offers move services to do the packing and unpacking for you.

So you want to wait until the market cools to buy a house. My advice, don't do it. The tricky thing about waiting until the market cools is right now, we are in an inventory shortage, rates are incredibly low. That means if you look at a normal market, like September of 2018, the average home sale was $262,000. Right now, the average home price is $320,000. The tricky thing about a normal market is rates are going to be higher. While the prices of homes may not continue to escalate like they have been, they're definitely not likely to go down with any great degree. The average home price in September of 2018 in a normal market was $262,000. At that $262,000 sales price with mortgage rates at 4.63%. Your payment per month would be $1,361, on that house. If you buy that $320,000 house now in September of 2021, at an average interest rate of around 3%. Your payment per month is only going to be $1,350. That's $11 cheaper than that $262,000 house was three years ago. So remember, if you wait until that market cools, that $320,000 house might still be $320,000 And you might not have to go over but your payment by looking at those 2018 rates is going to be $1,600 a month. And that seems like a difference worth sticking it out for a while I don't have a crystal ball and I don't think anyone does. One thing I do know is the market is still great right now to buy a home. If you're thinking of buying or selling I'd love to talk to you. Give me a call, shoot me a message, and let's get together and make a plan.

So, how did the market look in April? Well, the news may be saying there is a national slow down, but it doesn't seem to have reached us quite yet. Here's the breakdown by the numbers. Average Sales Price in the month of April was $412,850. That's up by 13.2% from last April, and it's still trending upward. (Yes, that means good news for sellers, but buyers in most price ranges are still engaging in bidding wars on most properties.) New Listings were actually down in April, by 25.3%,. but part of that can easily be accounted for by Easter/Passover holidays and spring breaks. Most people don't list during spring break weeks, so that is always to be expected. Closed Sales where also down (likely in part, at least, for the same reason) by just over 12% from last year. Average Days on Market seems to just keep going down! The average in April was 14 days, but keep in mind, that is indeed the average. Much higher than the median, which is only 6. Frankly, 6 is a high number, as most listings go on for 4-5 days, with a deadline for reviewing offers, so if they had no deadline, that number would certainly be lower. The average percentage of list price to sales price is up by just over 3% from last year, clocking in at 107.4% for the month of April. What does all of this mean? Well, at the risk of repeating the same refrain you hear all the time, it really is a great time to be a seller. That still means you have to price your home well, and do all the things to show it off in the best light. BUT, if you follow that course, there is a strong likelihood that you will indeed get multiple offers, with contingencies waived and more money than the listing price. If you're buying, well...things are tough out there, I'm not going to lie. But, having a plan, a preapproval, and most of all, a strategy, can get you in a great home to be enjoying by the time summer is truly here. With rates ticking up, we are likely to see a bit less competition in some higher price ranges, and many people are adjusting their price ranges and budgets to account for the increase. If you are thinking of buying or selling, or just wondering if it's the right time for you, reach out. I'd love to help.

Let’s face it. Moving stinks. We never realize how much stuff we have until we go to move it, and it’s nearly always a bigger job than we think it is. While I always walk through and give my seller clients a list of things to do to maximize their sales price, there is so much you can get started on months before you move, that will make it exponentially easier when the time comes to actually put your home on the market. Since you may be months, or even years, away, from moving, you’re not really focusing on the buyers and their opinion yet. Right now, focus on what you’ve been putting off. (I guarantee you there is something, and it’s usually the attic or the garage.) The only thing less fun than doing some of this purging and organizing is doing it when you’re on a deadline to get your home on the market. My recommendation? Start with one area at a time. You’re ahead of the game, remember> That means you can allot two hours every Saturday (or whatever is comfortable for you and works with your schedule). Why do you need to purge and organize these deep recesses of your home? Who even looks at those things anyway? There are a few reasons, actually. First of all, you probably don’t want to pack and move things that you don’t want to keep, so it just makes sense to go through it periodically. Second, especially if you’re downsizing, you’ll want to know what you DO want to keep so you know how much storage space is at your new home. Third, if you’ve been in your home for a while, there are probably lots of things in closets, pantries, garage, and attic that you’ve totally forgotten about. Thinning all that down will help the potential buyers (even if they’re a few months away) see themselves, and their “stuff” in the space. So where to begin? You’ll need to - literally - decide where to begin. Attic? Basement? A hall closet whose contents haven’t seen the light of day in years? It’s okay to start small. One shelf or one corner of the attic is still progress. Have boxes on hand for items you want to donate. You’ll also make piles for keep, recycle, and trash. As you’re editing, be brutally honest with yourself. If you have boxes that haven’t been opened since your last move, you probably don’t need those items anymore. As yourself these questions as you decide what to keep: Do I use it? Do I need it? Do I love it? If you don’t answer yes to at least one of these, let it go. Remember, every item you keep will have to be packed, moved, unpacked, and require space in your new home. When you’re done with your purging for the day, make sure you get the items you aren’t keeping out of the house! Leaving boxes of donations sitting around only gives you an opportunity to second guess yourself and undo all of your hard work and decision-making. Plus, you’ll be one step closer to having a home ready to put on the market!   Do you need to get started but don't know where to begin?   Hiring a professional organizer is a great place to start! Mary Davis from In Good Order is a fantastic resource, and has helped me tremendously. She can help you both make a plan and help you execute it. (She can also keep you from going down memory lane with everything you're trying to purge!) Tune in every Monday in May as Mary and I team up to work through the whole process of moving! Get more info on Mary HERE.      

Rates have gone up. The market is crazy. Everything's a multiple offer situation. There are so many competitive bids out there. Is it even worth trying to buy a house? There are lots of reasons like that, that I hear people say every day and I'm here to tell you that especially if you're renting, you may not want to wait until the market crashes or wait until things cooled down. Yes, rates have ticked up just a little bit, but they are still historically low. Also, if you think about the fact that a $300,000 home with 5% down, your mortgage payment is going to be somewhere around just under $1,800. If you put 5% down, your rent may be $1600, $1700, $1,800 right now. Think about it this way. That year that you're waiting for that market to cool off, you will be spending $1,600 a month paying the equity in your landlord's mortgage. Wouldn't you rather be building the equity towards your own future, paying off your own home than paying somebody else's? Also, just like home prices are going up, rental prices are going up at the same time. So, don't wait so long that you get stuck in a cycle of having to continue to pay rent while the prices continue to go up just because you're waiting for some imaginary crash. Don't wait for it. It's probably not going to happen for a really long time. If you're thinking about buying a house or just dreaming about buying a house, give me a call. Send me a message. Ask me a question. I'm happy to talk to you and I'd love to walk through whether or not it is really a good time for you to buy.