Header - Opportunities

Opportunities for Home Buyers

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If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer.

But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans.

The Challenge

There were many reasons for the limited number of homes on the market during the pandemic, including a history of underbuilding new homes since the market crash in 2008. As the graph below shows, housing supply is well below what the market has seen for most of the past 10 years (see graph below):

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The Opportunity

But that graph also shows a trend back up in the right direction this year. That’s because moderating demand is slowing the pace of home sales and that’s one of the reasons housing supply is finally able to grow. For you, that means you’ll have more options to choose from, so it shouldn’t be as difficult to find your next home as it has been recently.

And having more options may also lead to less intense bidding wars. Data from the Realtors Confidence Index from the National Association of Realtors (NAR) shows this trend has already begun. In their recent reports, bidding wars are easing month-over-month (see graph below):

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If you’ve been outbid before or you’ve struggled to find a home that meets your needs, breathe a welcome sigh of relief. The big takeaway here is you have more options and less competition today.

Just remember, while easing, data shows multiple-offer scenarios are still happening – they’re just not as intense as they were over the past year. You should still lean on an agent to guide you through the process and help you make your strongest offer up front.

Bottom Line

If you’re still looking to make a move, it may be time to pick your home search back up today. Let’s connect to kick off the homebuying process.

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Header - Price Matters

Your Asking Price Matters

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There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean for you if you’re thinking of selling your house?

While home prices are still appreciating in most markets and experts say that will continue, they’re climbing at a slower pace because rising mortgage rates are creating less buyer demand. Because of this, there are more homes on the market. And in a shift like this one, the way you price your home matters more than ever.

Why Today’s Housing Market Is Different

During the pandemic, sellers could price their homes higher because demand was so high, and supply was so low. This year, things are shifting, and that means your approach to pricing your house needs to shift too.

Because we’re seeing less buyer demand, sellers have to recognize this is a different market than it was during the pandemic. Here’s what’s at stake if you don’t.

Why Pricing Your House at Market Value Matters

The price you set for your house sends a message to potential buyers. If you price it too high, you run the risk of deterring buyers.

When that happens, you may have to lower the price to try to reignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder what that means about the home or if in fact it’s still overpriced. Some sellers aren’t adjusting their expectations to today’s market, and realtor.com explains the impact that’s having:

“. . . the share of listings with a price cut was nearly double its year ago level even as it remains well below pre-pandemic levels.”

To avoid the headache of having to lower your price, you’ll want to price it right from the onset. A real estate advisor knows how to determine that perfect asking price. To find the right price, they balance the value of homes in your neighborhood, current market trends and buyer demand, the condition of your house, and more.

Not to mention, pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. This helps lead to stronger offers and a greater likelihood it’ll sell quickly.

Why You Still Have an Opportunity When You Sell Today

Rest assured, it’s still a sellers’ market, and you’ll still get great benefits if you plan accordingly and work with an agent to set your price at the current market value. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.”

Mike Simonsen, the Founder and CEO of Altos Research, also notes:

“We can see that demand is still there for the homes that are priced properly.”

Bottom Line

Homes priced right are selling quickly in today’s real estate market. Let’s connect to make sure you price your house based on current market conditions so you can maximize your sales potential and minimize your hassle in a shifting market.

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Header - Back to School

How to Get Your House Ready for Back to School

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Use storage hacks for a more organized home — and chill family life.

It’s a given. When your kids go back to school, your schedule and family life get more hectic. But you can prep for the school year crush by fine-tuning how you organize your home, including storage and space use. Here are some ingenious but simple storage hacks for getting an organized home that will make going back to school easier.

#1 Organize Your Kids’ Bedroom Closets and Drawers

Help your kids get dressed in the morning by organizing their clothes. Arrange the clothes in see-through bins and on hangers so they can find what they want to wear and get dressed in a hurry. That way, your child won’t waste valuable time rummaging around for matching socks or their favorite shirt.

Pro tip: Label the drawers, bins, and closet organizers with the type of clothing that goes in them. If your child knows which drawer is for socks and which bin is for T-shirts, they can stash their clothes in the right places so an organized closet will stay that way.

#2 Add Places to Store Books

Make sure your child has a place to store textbooks, library books, and their own books. Install shelves that are low enough for them to reach. If they already have shelves in their rooms, organize them just like you did their closet so they can find the books they need, fast. You don’t want them to miss the bus because they’re looking for their math book.

Pro tip: Put library books in a separate bin on a low shelf so your child remembers to return them on time.

#3 Create a Dedicated Space for Homework

Create a homework station where your children can study and work on their book reports. For younger kids who need parental supervision, set up a space in the kitchen or living area so you can make sure they stay on task. For older ones who can manage homework without mom and dad, set up a study space in their rooms. Make sure they have a table or desk, a comfy chair, bins to organize school supplies, good lighting, and no distractions.

Pro tip: Keep phones and video games away from the study space (easier said than done).

#4 Set Up an Organized Drop Zone in Your Entryway

You know the drill. Your kids come home from school and throw everything from backpacks to sneakers on the floor when they step in the door. To keep your entryway from looking like a tornado went through, turn it into an organized drop zone. Create storage space for backpacks, shoes, sports equipment, hats, coats, and other gear. Put up cubbies for shoes, shelves for books, and hooks for jackets, backpacks, and tote bags. You’ll declutter the space and ramp up efficiency.

Pro tip: Put baskets or bins on the floor or on low shelves by the entrance to catch the socks, toys, papers, and other paraphernalia that doesn’t make it onto a hanger or into a cubby.

#5 Create a Back-to-School Communications Command Center

That’s a fancy way of saying you need a space where you can coordinate class and work schedules, homework assignments, school activities, and reading lists. The center can be as simple as a calendar and whiteboard on a kitchen wall. Or you can make it more functional by adding hanging bins for folders, a message board, or a small table or desk where you can put an inbox, a bill holder, and a supply of envelopes and pens.

Pro tip: Get a large whiteboard with a calendar template that lets you customize each month and write down all your school-related appointments in one place.

#6 Get the Kids’ Bathrooms in Order

Make it easier for your kids to get out the door in the morning by arranging their bathroom for maximum efficiency. Sort their bathroom essentials by category — toothbrushes, hairbrushes, towels, shampoos, and soaps. Organize them in cabinets, drawers, or bins. You want to make items easy to find so your kids can brush their teeth and hair and wash their face fast.

Pro tip: Help younger children stay organized by labeling storage areas with the type of grooming supplies they hold, like “Hair,” “Teeth,” and “Bath.”

#7 Set Up a Back-to-School Breakfast Station

Feeding children as they rush out the door to school is tough. Make it simpler by setting up a spot in the kitchen with easy-to-prepare food so your kids can eat on the run. Put out airtight containers of cereal, bowls, packets of instant oatmeal, and fruit in a basket. Make sure milk, yogurt, and other healthy breakfast foods are in easy reach in the fridge.

Pro tip: Use hotel breakfast bars as your inspo. Kids love picking their own meal from an array of food, so copy that look on the kitchen counter.

#8 Make a Snack Drawer

Kids are hungry when they come home from school. Set up an area where they can get their own snacks. Put bins in the fridge that have healthy snacks just for them. Think fruit, yogurt, string cheese, nuts, hummus and celery sticks, and cherry tomatoes. If you make healthy food as accessible and ready to eat as junk food, your kids might choose an apple instead of a bag of chips.

Pro tip: Use clear bins so the kids can see what’s in them and so you know when you’re running low on snacks.

A few back-to-school hiccups are probably inevitable. But with some simple hacks for an organized home, the transition can be a whole lot easier.

 

By: Leanne Potts

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Header - Home for Pets

10 Home Design Features for Pets

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With these amenities, your fur babies will make themselves (more) at home.

For most of us, our pets are family. We let them sleep in our beds, ladle nutritional supplements on their organic kibble, and throw birthday parties for them. In fact, we love our animal companions so much that we even choose a home and a home design for pets.

These numbers tell the story. Forty-three percent of pet owners say they’d move to accommodate their pet, according to a 2021 study from the National Association of REALTORS®. What’s more, 68% of pet owners surveyed by realtor.com® say they’d pass on an otherwise perfect home that didn’t meet their pet’s needs. According to the same survey, nearly 95% of pet-owning respondents say their furry companion plays a role in selecting a home.

Real estate agents are seeing the numbers play out IRL. “Our pets are pampered and adored. That’s really translating into how people are buying real estate and what amenities they are looking for,” says Nicole Prince, an agent with the Figueroa Team in Orlando. “I get clients who bring me a list of features they want in a home or neighborhood that are for their pets — from dog parks nearby to no carpet in the house.”

Here are some pet-friendly features that will make a home more welcoming for animals. Whether you’re shopping for a new home or upgrading your space to suit your fur baby’s needs, they’ll make the place a pet paradise.

#1 Pet Bathing Station

Washing a dog in a normal bathtub can be miserable. Even if your pup is groomed regularly, you still need to clean them up after they romp at the dog park or roll in mud in the yard. One solution is to build a grooming station in your home for quick cleanups.

“I’ve shown homes lately that have grooming stations built in,” Prince says. “It’s super cool — a utility sink that doubles as a place for you to wash your dog.” For larger dogs, you can install a commercial grooming tub with a hand sprayer or a walk-in shower that will accommodate your pet. The location is flexible: A grooming station can go in a laundry room, mudroom, or garage.

#2 Organize Your Entryway

Imagine this: You’re just getting back from an invigorating walk with your pup through the open fields. Your boots are caked with mud, his paws are also pretty sloppy. You open the front door to mincingly step into your beautiful home and your hound dashes in as you carefully wipe your feet on the mat. To avoid this nightmare, and if a full blown bathing station isn’t a possibility, consider setting up an entrance space where you can wipe down and dry off your dog before you enter your home. Set up a cupboard with wet wipes, towels, and treats.

#3 Pet-Proof Flooring

Accidents happen, even with the best-behaved pets. That’s why floors with a hard, impermeable surface make your life easier. Think tile, hardwood, terrazzo, cement, or laminate, Prince says. Stay away from wall-to-wall carpet. “Carpets soak up pet stains, so they’re a bad idea,” Prince explains. Adding wood floors to your home increases monetary value, too. The National Association of REALTORS® “2022 Remodeling Impact Report” says new wood floors bring a 118% return when it’s time to sell the house.

#4 Build-in Pet Beds

Pet beds tossed about your house are unattractive and consume valuable floor space. The alternative is building pet beds into cabinets, shelves, and other pieces of furniture. You can build a pet bed into the bottom shelves of a bookcase or into a kitchen or mudroom cabinet. Or tuck it under the stairs. If hiring a cabinetmaker or carpenter to build a seamless pet bed isn’t in your budget, you can also buy pet beds that look like furniture. You’ll be happier with the way your pet bed looks, and your pet will have a permanent space.

#5 Built-in Pet Gates

You don’t want your pets to go into certain places in your home, and most of us keep them out with baby gates. Plastic baby gates are flimsy and unattractive. A better option is a built-in gate. You can hire a cabinetmaker to build a custom pet gate for a door that’s mounted to a door jamb on hinges. Or you could make a pocket door-style pet gate that slides into the walls. Can’t afford custom work? Consider premade upscale pet gates that you can mount to a door jamb or staircase.

#6 Outdoor Ramp

Just like humans, dogs and cats can get too old to easily navigate stairs. If stairs are separating your pet from the outdoors, build a ramp from the door to the yard to make your house accessible as they age. You can hire a carpenter to construct the outdoor ramp for dogs. Be sure you design it at an angle they can navigate. Small or short-legged dogs — like basset hounds and corgis — may need a ramp to navigate stairs even when they’re young.

#7 Enclosed Cat Patio

Also called a catio (cat + patio,) these outdoor enclosures provide a safe place for your cat to play outside. The structure, with a roof and four walls, keeps your cat safe and unable to harm wildlife. Catios can range from window-box sized ones to lanai-sized ones large enough to enclose a patio with human seating.

#8 Built-in Pet Doors

Those pet doors with the rubber flaps and plastic frames that you hack into a door can be flimsy and straight-up ugly. Fortunately, sturdier and more aesthetically pleasing alternatives are available. You can get exterior doors with built-in pet doors. Or, consider glass inserts with built-in pet doors that replace sidelights on an exterior door. If you want to spend more, you can get heavy duty pet door inserts that fit into your home’s exterior wall. Integrating a pet door into your home’s design is better for you and your pup because it’s more permanent, secure, and lovely.

#9 Built-in Pet Feeding Station

Food and water bowls are messy, so upgrade your setup with a built-in pet feeding station. You can build a dedicated space for pet bowls into the cabinets in your kitchen or laundry room. That means no more tripping over bowls. A built-in station organizes the space, turning pet bowls from clutter to part of the furniture. Consider installing a faucet near the feeding station so you can easily refill or rinse bowls.

#10 Fenced-in Yard

A meadow-like grassy yard enclosed by a secure fence is the holy grail for pet owners. An outdoor area for their beloved animals to play safely is why pet owners leave lofts in the city for single-family homes in the suburbs. “A fenced-in yard is near the top of my clients’ list when they’re looking for dog-friendly features,” Prince says. “There’s no substitute for a safe place for your animals to spend time outdoors.”

 

By: Leanne Potts

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