Sharon's Blog

Why Use a REALTOR

Wed, 26 Apr 2017 00:00:00 EST

Why Use a Realtor?

on APRIL 19, 2017

This month's Market & Tech stat features a few of the main reasons why it's beneficial for buyers and sellers
to utilize a real estate agent.

Time to Buy a Home

Wed, 26 Apr 2017 00:00:00 EST

2017: Time to buy Experts urge action from would-be buyers

Over the past few years, real estate professionals likely noticed a strange trend among would-be homebuyers. When mortgage rates went up even slightly from near-historic lows, shoppers tended to retreat from the market despite the fact that affordability was still well below pre-recession and all-time norms. But now that rates and prices alike are creeping back toward the highs seen prior to the economic downturn, experts say the time to buy is now.

There are actually two things to consider when it comes to mortgage costs, because while prices in some areas may have now surpassed all-time highs, rates haven't come close to doing so. As such, while some consumers may get a little worried about mortgage rates that have jumped nearly a full percentage point in the course of just a few months, it's important to put that increase into context, according to MarketWatch. While today's rates are in the low 4 percent range and expected to rise at least a little more over the course of 2017, they're still well below those in the 5.5 to 6 percent range that were so common before the housing market crashed.

Getting perspective
Simply put, mortgage rates below 5 percent were quite literally unheard of for recent generations of homebuyers. Not since the early 1970s have they been that low, and in fact got nearly as high as 20 percent in the early 1980s. As recently as the start of the 2000s, mortgage rates were closer to 7 percent. As such, today's rates should still be seen as eminently affordable, and not something that should scare off shoppers anytime soon.

With that having been said, though, experts also caution that the best time to buy will be in the near future. Prices and rates alike are expected to keep rising, so those waiting for a better deal than the ones available today to come along will likely find themselves disappointed. In general, experts advise that those who wait even six months to get into the market might end up paying tens of thousands of dollars more over the lives of their loans than current shoppers.

Other options to boost affordability
Fortunately, for consumers with the ability to make larger payments when they close their home loan agreements, there are other options for saving money on a mortgage, according to CNBC. Many lenders offer the ability to "buy points" at closing, which effectively means paying an additional 1 percent of the loan's value to lower the interest rate by a single percentage point. The larger the payment at that time (which can obviously get expensive for those buying more than one point) the lower the ongoing interest rate. This can lower monthly mortgage payments a little bit each month, making it slightly easier to afford the mortgage in the long term.

With all this in mind, those who are now looking at their options for completing real estate sales would do well to talk to their agents and lenders about what their options for saving money might be. The ability to increase mortgage affordability is one that can really pay off over the course of a few decades.

Brought to you by HMS Home Warranty. HMS is an industry leader with over 30 years of creating success for clients and providing peace of mind for customers. To learn more click www.hmsnational.com.

What can sellers do to make their homes look great?

Mon, 17 Apr 2017 00:00:00 EST

Any experienced real estate professional can tell selling clients all about the importance of making a home presentable before an open house. Obviously any imperfections or clutter can be a bit of a turn-off to would-be buyers, and it's therefore important for all involved to make sure a home is as attractive as possible. Part and parcel with that necessity, though, is the fact that what buyers want to see often changes as time goes on.

With this in mind, it's important for agents and sellers alike to keep in mind what the latest trends in home improvement are, with a focus on boosting that return on investment as the selling season gets underway in earnest, according to Jeff of All Trades. One of the big trends in the new year is that people want nicer kitchen areas so they can focus on preparing healthy, home-cooked meals. Kitchen redesigns, whether large or small, have long been a focus ahead of real estate sales, but figuring out ways to create more space for cooking is now a must.

Other areas to focus on
Along similar lines, when it comes to living healthy, many Americans now seem to also want to be able to cultivate fruits, vegetables and herbs in their homes. To that end, finding a spot to install even a small greenhouse-type window with the intention of giving plants plenty of light to help them thrive could be just another attractive selling point that scores big with potential buyers. For those with a little more space, it might be possible to set up a small indoor grow house with water and light access provided on an ongoing basis.

In general, people are more focused on going green, so any installations that help to conserve water or energy, or perhaps cut down on waste in general, could go a long way toward boosting a current homeowner's return on investment.

Focusing on the outside
The concept of curb appeal isn't in any way new, but the focus on healthy living and more of an outdoors-y feeling translates here as well, according to Trulia. The more homeowners can do to make the plant life in their yards thrive ahead of a sale – and perhaps this includes planting a small tree so new buyers can watch it grow over the years – the more likely it becomes that buyers will be charmed by all the greenery they see. Along similar lines, it might also be wise to build a small garden in the back yard for even more growing space, and that's the kind of DIY job that can be completed in an afternoon.

In general, the more agents and sellers can do to collaborate on what kinds of improvements to make ahead of an open house, the better. Often, something as simple as keeping on top of the latest design trends and learning more about what buyers want can inform the best possible decisions.