Posts from July 6th, 2022
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6
Reasons Why Selling Your Home Now Is a Great Opportunity To Capitalize on Market Trends
The past few years have been good for sellers. This side of the housing market has benefited from the rapid rise of home appreciation, historic low mortgage rates available for refinancing options, and growing equity. Homeowners thinking of selling their home may believe they missed the best time to list but according to many national experts, the market is favoring sellers. Lawrence Yun, the Chief Economist at the National Association of Realtors shares, "There is an ongoing housing shortage, and properly listed homes are still selling swiftly." Although the housing market is still considered a seller's market based on supply and demand, the market is projected to begin normalizing into a more neutral market where inventory can catch up and even match buyer demand.
Mortgage Rates
While it's true to say mortgage rates are on the rise, knowing and understanding historic context is everything. Mark Fleming, Chief Economist at First American, explains: "Rising mortgag...
6
Summer Home Maintenance Tips
Summer is here and it's time for fun in the sun! But, before you dive into your summer activities, make sure your home is just as ready for the season as you are. Ensure your summer is a relaxing one with these timely home maintenance tips. We hope these maintenance tips will help give you peace of mind so your summer is enjoyable and worry-free. And if you need help tackling larger projects, hire a professional! Not only will your Realtor have a trusted recommendation for almost every project on your timeline, but we also have a preferred vendor webpage that will help you get connected with the experts you need.
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Check-in on your HVAC system. Checking to make sure your HVAC filter is clean will help your system work efficiently which translates to more money saved! |
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Clean your appliances. Cleaning the coils on the back of your fridge will help lower the system's energy usage. |
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Utilize ceiling fans. Reversing your ceiling fans to run counterclockwise will help circulate the cool air in your home. |
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Update your thermostat. Save money on energy by re-evaluating your thermostat. A wifi-connected thermostat can allow you more control over your home, even from your phone! |
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Secure your fence. Checking and reinforcing fence posts that may have shifted over the winter will keep your perimeter secure. |
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Prepare your gutters. Cleaning gutters and downspouts as well as checking for damage before storm season will help prevent any external water damage to your home. |
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Keep fruit flies at bay. Cleaning out your garbage disposal will help prevent any unwanted pests! |
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Double-check windows and doors. Checking weather strips around your doors and windows to ensure a tight seal, will ensure your air conditioner isn't working overtime. |
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De-weed your garden. Prep your summer garden for planting by laying down mulch or fertilizer in your garden soil to keep weeds down and give your plants a head start on growing. |
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Clean your patio. When bringing out your patio furniture, give it a good cleaning to remove any dust or cobwebs to give your outdoor space an inviting look for those summer barbeques. |
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Watch for ants! Keep an eye out for sawdust at the baseboards caused by carpenter ants as well as termites that shed their wings along windowsills and other entry points. |
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Keep cool! Consider using a dehumidifier in your home to dissuade mold, and pests, and reduce the amount of work on your air conditioner. |
6
Expert Financing Tip from Ruhl Mortgage
What's the mortgage tip for homebuyers and sellers this summer? Have your homeowners insurance configured early! Chris Schneider, President of Ruhl Mortgage, suggests getting your insurance lined up, "as soon as you get a home under contract." Why? Many clients want to know their full payment amount prior to closing. To ensure that your closing does in fact happen on time and accurate figures are used, your loan officer needs your final insurance premium amount. Often this information is overlooked or saved until the very end of the process because it is thought to not greatly influence one's mortgage. "We will see a client negotiate hard for a few thousand dollars on the purchase price, which only changes the payment on a 30-year loan about 5/per thousand," says Schneider, "but then they will get an expensive insurance policy from a national carrier," which may change the amount factored into your monthly mort...
6
Is the Market Changing for Buyers?
Buyers today have had to deal with incredibly low housing inventory in an incredibly competitive market. For those leary of moving fast, the uncomfortable pressure of feeling rushed is heavy and ever-present. Even for those who powered though, a restful night of sleep was probably not had until closing papers were signed. It's been rough for buyers, locally and throughout the country, but it appears there is light at the end of the tunnel. In fact, according to experts across the country, the housing market may just be turning a corner.
Inventory Rebound
Housing inventory is rebounding! According to housing experts, nationally we have seen the number of active listings rise by 8.0% in May. However, it's important to note that although there may statistically be more listings than earlier in the year, inventory is still on the low side, especially when compared to pre-pandemic years. Yes, more homes are available, but inventory is still 59.6% lo...
