Selling a home as-is can be a strategic decision for many homeowners.This option often appeals to those who want to avoid the costs of repairsafter negotiations, homeowners with limited equity, or those facing financialchallenges. It can also set clear expectations that buyers should conducttheir due diligence and not anticipate repairs later. Regardless of thereason, there are effective ways to facilitate a successful as-is sale. First, it’s important to clarify what "as-is" means. While some homes aremarketed as-is, others may not be. In an as-is sale, the seller is usually notresponsible for making repairs or addressing issues identified during ahome inspection. Buyers need to understand that unless they waive thehome inspection and/or condition contingency, they can typically still backout if they find the home’s condition unsatisfactory during their inspectionperiod. To successfully sell a property as-is, accurate pricing is essential. Thisdoesn’t mean pricing it below market value, but rather being realistic aboutthe home’s value and condition. The marketing should clearly state that thehome is being sold as-is and provide details about its condition,emphasizing its potential and any expected repairs. This transparency canhelp reassure buyers and encourage them to consider the property.   Overall, selling a home as-is can be a smart strategy that maximizes theseller's return on investment. With the right approach and opencommunication, both buyers and sellers can have a rewarding transaction.

When it comes to buying a home, one of the most significant hurdles many first-time buyers face is the down payment. However, a down payment gift can alleviate some of that burden. Understanding what a down payment gift is and who can provide one can make the home-buying process more accessible. What is a Down Payment Gift? A down payment gift is a sum of money given to a homebuyer to help cover the down payment on a property. This financial assistance can come from various sources, and it does not need to be repaid. Typically, down payment gifts are used by first-time homebuyers or those who may not have enough savings to cover the upfront costs of purchasing a home. Key Features of Down Payment Gifts 1. No Repayment Required: Unlike loans, down payment gifts do not have to be paid back. This can significantly ease the financial strain on buyers.2. Documentation Required: Lenders often require documentation to confirm that the funds are indeed a gift, not a loan. This can include a gift letter from the donor stating the relationship to the buyer and confirming that the funds are a gift.3. Source of Funds: Many lenders may also ask for proof of where the gift funds are coming from to ensure they are legal and legitimate.   Who Can Give a Down Payment Gift? Several individuals or entities can usually provide down payment gifts, depending on the lender requirements and terms. Here are some common sources:  1. Family MembersFamily members are the most common source of down payment gifts. Parents, grandparents, siblings, and other relatives can provide financial assistance to help their loved ones achieve homeownership.    2. Close FriendsIn some cases, close friends may also contribute to a buyer's downpayment. However, this is less common and may require additionaldocumentation to clarify the nature of the gift. 3. EmployersSome companies offer down payment assistance programs as part of their employee benefits. Employers may provide gifts or grants to help employees with their home purchase. 4. Non-Profit OrganizationsCertain non-profit organizations are dedicated to helping individuals and families achieve homeownership. They may offer down payment gifts, grants, or assistance programs tailored for specific communities or demographics. 5. Government ProgramsVarious government programs exist to assist first-time homebuyers,including down payment assistance in the form of gifts. These programs can vary by state or locality, so it’s essential to research what's available in your area.   Benefits of Down Payment Gifts 1. Increased Buying Power: With a down payment gift, buyers canincrease their purchasing power, allowing them to qualify for amortgage they might not have been able to secure otherwise.2. Lower Monthly Payments: A larger down payment can lead to lower monthly mortgage payments and potentially eliminate the need for private mortgage insurance (PMI).3. Access to Better Loan Terms: Putting down a substantial amountcan improve a buyer's chances of securing better loan terms, such aslower interest rates. Conclusion A down payment gift can be a valuable resource for homebuyers,especially those navigating the challenging waters of purchasing their first home. Understanding the concept of down payment gifts and knowing who can provide them can help buyers leverage this financial assistance effectively. If you’re considering a down payment gift, it’s wise to communicate with your lender about their requirements and ensure all necessarydocumentation is in order. With the right support, achieving homeownership can be a more attainable goal.

Homebuyers who are gearing up to shop for a house this fall might wonder whether the mortgage rate gods will smile in their favor. They’re right to ponder: Last October, rates hit a 23-year high of 7.79% for a 30-year fixed home loan, according to Freddie Mac. Since then, rates have plunged to 6.47% for the week ending Aug. 8, the lowest they’ve been in over a year before ticking up slightly. The Realtor.com® 2024 midyear forecast predicts rates will dip further to 6.3% by year’s end. Homebuyers should be happy to hear this, but the question remains: What will happen once mortgage rates continue to fall? And what else might shift in the housing market in ways buyers might not see coming—in terms of home prices, the number of homes for sale, and beyond? Here’s what homebuyers can expect, and how they can prepare to make the most of this opportunity once lower rates hit. Mortgage rates will likely decline gradually Though mortgage rates have fallen since their peak in October 2023, they’re still way above the 2022 lows of around 3%. In other words, the roller-coaster ride isn’t over. “The drop has occurred largely as a result of encouraging signs that inflation is easing and that the Federal Reserve will be cutting the federal funds target rate sooner rather than later,” says Charlie Dougherty, director and senior economist at Wells Fargo. The Fed had been raising interest rates since early 2022 to bring down inflation. In July, it signaled it would be cutting rates this fall in response to cooling inflation. Mortgage rates often move in the same direction as the Fed’s rates—so when the Fed lowers its rates, mortgage rates are likely to drop, too. “We are going to see Fed rate cuts before the end of 2024, and they’re going to be bigger than we expected at the outset of the year,” says Realtor.com® Chief Economist Danielle Hale. But homebuyers shouldn’t expect a radical overnight change. “Roughly 86% of outstanding mortgages have a rate of 6% or below, meaning rates will need to continue to trend lower to see a fully reenergized housing market,” says Hannah Jones, senior economic research analyst at Realtor.com. Homes may not become more affordable Potential homebuyers who’ve been hanging out on the sidelines, waiting for median home prices to drop alongside interest rates, may want to brace themselves: Prices are rising—as of now. Indeed, the Realtor.com economic research team expects list prices to rise 4.6% by the end of the year. And falling mortgage rates just might be to blame. “If lower mortgage rates spark more buyer demand than inventory can keep up with, then prices may climb once again, eliminating the impact of lower rates,” says Jones. “Lower financing costs will likely boost demand by pulling affordability-crunched buyers off of the sidelines,” adds Dougherty. In fact, for every 1% drop in mortgage rates, there are 5 million more households that qualify for homeownership, according to Seth Bellas, a Grand Rapids, MI–based branch manager for Churchill Mortgage. What this means is that not only will more buyers start searching for homes, but many might also resort to offering over the asking price. “Waived appraisals and shortened inspection timelines are also likely to make a comeback,” says Bryson Taggart, senior agent partnership manager for Opendoor. “The good news for buyers is that their power will increase, and they’ll be able to afford more house—they just might need to work harder for it.” Homebuyers may have to put in more offers On that note, if at first you don’t succeed, don’t give up. “Once you’re up against the competition, don’t get discouraged. It can take multiple offers on a home before getting accepted,” says Taggart. “In 2020, I had a client who put in 16 offers before they were accepted. It was a tough journey, but their persistence landed them the home of their dreams.” Buyers can prepare for the possibility of heightened competition by homing in on their preferences and budget, adds Jones. Taggart says his best advice is to make sure to include closing costs and down payments in those parameters, and be realistic about what you can afford. Lower rates could help unleash more homes on the market Anyone who’s searched for a home over the past couple of years knows pickings have been slim. But one outcome of lower rates is the possibility of new housing stock—which has been steadily rising for months now. Though overall housing inventory remains below pre-COVID-19 pandemic levels in much of the U.S., there are more homes for sale than the same time last year. Realtor.com forecasts that housing stock will eventually climb by 14.5% annually in 2024. “Lower rates and more for-sale inventory spell opportunities for buyers,” says Jones. “The summer is typically the busiest time of year in housing, but this fall may see an extra boost from shifting housing conditions.” Pre-approved mortgage applications will start ‘waking up’ The best thing home shoppers can do is get pre-approved for a mortgage so they’re in a position to act on that perfect house the minute it hits the market. “Planning ahead and getting one’s buying power firmed up early will give a potential homebuyer a leg up on those that are just thinking of preparing themselves,” says Tan Tunador, a vice president and senior loan officer for Atlantic Coast Mortgage. “A young couple reached out last week asking what they needed to do to get pre-approved, and when I looked them up, their initial application was October 2021. But when they had applied in 2021, they quickly gave up due to rates and the low inventory,” says Tunador. “Recent positive news about mortgages brought them back into the market, and they were happy that we could use their original application.” Tunador helped them freshen up their original application with a new credit report and updated income and asset documents. Now, they’re ready to go with a new pre-approval letter. Note: How fast a buyer needs to act all comes down to location. “Still-competitive Midwest and Northeast markets may require swift action, while markets such as Austin, TX, that are flush with inventory may allow more time for deliberation,” says Jones. “It is important to keep a pulse on the market to ensure you can submit a competitive offer and take advantage of falling rates.” Buyers will trade high rates for a more challenging market Once rates start to drop, it’s going to be a trade-off for homebuyers: rates versus competition. “One of the most basic principles of economics is that when supply is limited and demand is heightened, the price of the goods increases,” says Taggart. “For buyers, we can anticipate increased competition that will drive up the prices of homes and make the homebuying process more stressful and difficult.” In other words, homebuyers will find themselves essentially trading the frustration of having a higher mortgage rate for the frustration of competing in a more challenging market. Potential buyers might once again be forced to consider risky moves like waiving a home inspection, adding an appraisal guarantee, and/or overbidding significantly to win a bid. If you see a home you love, don’t wait “The key is to act strategically in this evolving market,” says Cassandra Happe, an analyst for WalletHub. “Buyers should consider locking in deals at potentially lower prices now.” “With the inventory of homes for sale still relatively low, finding the right home might still be the biggest challenge,” says Hale. “For that reason, if a shopper finds a home that fits their needs and is in budget, then it makes sense to move forward.”

There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it. Consider Moving to a More Affordable Area Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower. As Orphe Divounguy, Senior Economist at Zillow, explains: “Housing affordability has always mattered . . . and you’re seeing it across the country. Housing affordability is reshaping migration trends.” If you’re hoping to buy a home soon, it might make sense to broaden your search area to include places where homes that fit your needs are more affordable. That’s what a lot of other people are doing right now to find a home within their budget. Extra Space Storage explains: “55% of American adults are looking to relocate to a different state or city for more affordable homes and lower costs of living. . . Specifically, states with a strong economy, lower costs of living, and remote work options continue to be the ideal places to live in the U.S.” Remote Work Opens Up More Home Options If you work remotely or drive into the office only a few times each week, you have many more possibilities when looking for your next home. That’s because you can cast a broader net and include more suburban or rural areas nearby. As Market Place Homes says: “People start to reconsider where they want to live when commute times are slashed in half or eliminated altogether. If they have a longer commute but don’t have to do it daily, they may feel like they can tolerate living farther away from their job. Or, if someone works entirely remotely, they can move to a cheaper area and get a lot of house for their dollar.” How a Real Estate Agent Can Help A real estate agent can help you find the perfect home for your budget. They’re especially valuable if you’re moving to a new, unfamiliar area. Bankrate says:                                                                                          “If you’re moving far away, you may not have a good idea about which neighborhoods or towns will be the best fit. An experienced local agent can help you find the lifestyle you’re looking for in a home you can afford.” So, if you’re thinking about relocating to somewhere with more affordable homes, what are you waiting for? With the added flexibility of remote work, you might have more options than before. Bottom Line Dreaming of a place where your money goes further? Connect with a real estate agent so you have someone to help you find your next home. Together, you’ll make your dream of homeownership a reality.

Timeless Elegance – Creating an “Old Money” Look for your Home   There is a certain look and feel that just oozes “old money.” These homesare graceful and elegant with interiors that are timeless and beautiful. Farfrom changing with each trend, these homes offer a sense of history that iswarm and inviting. Fortunately, creating a classic, “old money” home doesnot require generational wealth. Anyone can create a home of understatedluxury. · Quality Matters – Ditch the big-box stores that offer trendy furnitureand accessories. Spend the time and money investing in pieces that willlast and never go out of style. Hand-crafted wood, leather, and marbleitems can be found at high-end stores or antique dealers and will be worththe price in the long run. · Antiques and Vintage – Time spent in antique stores will pay off withthose special finds that lend depth to your home. Wonderful kilim rugs or anaged mirror will add charm to any space. · Formal Rooms – Most floorplans still offer separate “formal” diningand living spaces, yet many families never use them for that purpose.Carving out these areas for special use does not need to involve a specialevent. Even a weekday family dinner is an occasion to stop and enjoy abeautiful room.    · Family Heirlooms – Incorporate those special items from grandma’sliving room or the elegant set of China inherited from a great aunt. Tastefulart, books, and décor can also add a touch of personal family history. Most importantly, nothing is off limits. Add items that you love and enjoy.Far from a cluttered, shabby, old sense, this kind of style embraces theeclectic and timeless elegance of the “old money” crowd.

When touring a beautifully staged home, it's easy to admire both the layout and the furnishings. While certain furniture like sectional sofas may seem perfect for the space, they typically don't stay with the home once sold. However, the inclusion of other items in the sale might not be so clear-cut. Here's an overview of some items whose transfer might not be automatic: ● Appliances: Generally, built-in appliances such as ovens and dishwashers areincluded in the sale. Freestanding items like refrigerators or countertopmicrowaves sometimes are not. ● Built-In Fixtures: Items that are permanently attached, like ceiling fans andbuilt-in bookcases, often come with the house. However, while fixtures likecurtain rods might stay, the curtains themselves may not. ● Outdoor Items: It's important to specify which outdoor items are included in the sale within the contract. This can include sheds, outdoor furniture, and evenspecific garden features like koi ponds, which might otherwise lead tomisunderstandings. ● Security and Smart Home Systems: With the advent of wireless technology,components like sensors may not necessarily be included in the sale as the sellercan easily remove them. Here's a list of questions buyers might consider asking their real estate agent when preparing an offer, specifically regarding items included with the property: 1. What appliances are included in the sale?Are there any exceptions, like a freestanding refrigerator or microwave? 2. Can you confirm which built-in fixtures are staying?For instance, are the ceiling fans, bookcases, and light fixtures included? 3. Are window treatments such as blinds and curtains included?Does this include all hardware like curtain rods? 4. What outdoor items are included in the property sale?Is the outdoor furniture, sheds, or any garden features such as fountains or koiponds part of the deal? 5. How are landscaping items handled? Are there any potted plants or specific landscaping features that are excluded? 6. What about the security and smart home systems?Which components, if any, are the sellers planning to take with them? 7. Has anything been added to the list of exclusions since the last discussion?Are there updates or changes to what’s included that I should be aware of? 8. Can we specify certain items to be included in our offer?How do we ensure that specific items, like a desirable outdoor kitchen setup, areincluded in the purchase? Asking these questions can help clarify what will be included with the home and ensure that the buyer's expectations are aligned with the reality of the offer. To prevent any misunderstandings, it's advisable for buyers to explicitly list the items they believe are important in their offer. This allows both parties to clearly discuss and negotiate what will and will not transfer with the property.

Title insurance is a critical component of the home selling process, yetmany homeowners do not fully understand what it is or its value. Simplystated, title insurance protects both buyer and seller from any potentialissues with the property’s title. When selling a home, obtaining titleinsurance offers peace of mind to all parties. Title insurance acts as a safeguard against potential defects in theproperty’s title. These defects can include liens, unpaid taxes, undisclosedheirs, or simply errors in public records. Without title insurance, a buyercould find these issues haunting them after the close, leading to costly legalissues or financial loss. One of the primary reasons for buying title insurance is to protect againstany claims that arise after the close of the sale and when the seller is longgone. Even if a title search is conducted during the escrow period, titleinsurance is a way to provide a safety net, with potential missed issues orundeclared claims. Title insurance may seem like another fee that lenders require to chargeconsumers more, but the fact is it is an essential protection for all parties.

When looking at the real estate metrics provided, we can see a correlation between the Months Supply of Inventory, the 12-Month Change in Months of Inventory, the Median Days Homes are On the Market, the List to Sold Price Percentage, and the Median Sold Price. The Months Supply of Inventory being at 1.71 indicates a seller's market, as there is a low inventory of homes available for sale in relation to the current demand from buyers. This low supply can lead to higher prices and quicker sales. The 12-Month Change in Months of Inventory increasing by +28.57% suggests a shift towards a more balanced market, as there has been a significant increase in the number of homes available for sale compared to the previous year. This could potentially lead to a stabilization of prices and a longer time on the market for homes. The Median Days Homes are On the Market being at 18 is a reflection of the current fast-paced market, with homes selling relatively quickly. This quick turnover can be attributed to the low inventory and high demand, driving competition among buyers. The List to Sold Price Percentage being at 101% indicates that homes are typically selling for slightly above their list price. This could be a result of multiple offers on properties or sellers pricing their homes strategically to attract competitive bids. Lastly, the Median Sold Price of $734,000 provides insight into the average sale price of homes in the market. This higher median price could be a result of the low inventory driving prices up, as well as the overall desirability of the area.

Mortgage rates swung slightly lower last week, fueling a significant jump in mortgage demand for the second straight week. Total application volume rose 7.1%, compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.84% from 7.02%, with points falling to 0.65 from 0.67 (including the origination fee) for loans with a 20% down payment. “Mortgage rates dropped below 7% last week for most loan types because of incoming economic data showing a weaker service sector and a less robust job market, with an increase in the unemployment rate and downward revisions to job growth in prior months,” said Mike Fratantoni, senior vice president and chief economist at the MBA. As a result, applications to refinance a home loan, which are most sensitive to weekly rate moves, rose 12% for the week and were 5% higher than the same week one year ago. “While these percentage increases are large, the level of refinance activity remains quite low, and we expect that most of this activity reflects borrowers who took out a loan at or near the peak of rates in the past two years,” added Fratantoni. Applications for a mortgage to purchase a home rose 5% for the week but were still 11% lower than a year ago. Homebuyers are up against more than just high interest rates. They are looking at sky-high home prices and a still lean supply of houses for sale. While more inventory is coming onto the market with the spring season, it is not enough to meet the demand, especially for smaller, starter homes. Mortgage rates rose slightly at the start of this week, after a government report on consumer prices came in higher than expected Tuesday. However, the increase was smaller than previous reactions to similar economic data. “It suggests the market is starting to see more convincing signs that inflation and the economy stand a better chance deliver rate-friendly news in the near future as opposed to news that would cause a big resurgence,” said Matthew Graham, chief operating officer at Mortgage News Daily. Read more at CNBC.com

What could be more welcome than the first warm breezes of spring? They refresh both the gardener and the garden. There’s no better way to enjoy this change in the weather than to plan your borders so they peak during this beautiful time of year. Spring starts anywhere from February to April, depending on where you live and what the temperatures happen to be any given year. Your flowers will hang on longer, in some cases for a couple of months, during a cool spring. Or the season can rush by in just a few weeks during a warmer year. Early, mid and late spring garden Short or long, spring usually has three phases: Early, mid and late. Make sure you have plants that look good in each one. Early spring is chilly with erratic weather patterns. Look for tough early bloomers, such as hellebores, witchhazel and snowdrops. In mid- to late spring you’ll notice common lilacs, peonies and many others blooming abundantly. So as you can see, a great spring garden is more than a few tulips and daffodils plunked in the ground. These essential design ideas will take your spring garden from ho-hum to positively perfect. 1. Think fragrance Spring and fragrant flowers just seem to go hand in hand. Common lilac, peony, hyacinth — their heavenly scent makes time spent outside a real pleasure. Place them near a well-travelled path or under an open window so you won’t miss out. Work fragrant plants into a foundation planting or near the front door to share a favorite scent with visitors. Sheltered from the wind by the house, the fragrance won’t dissipate as quickly as it would in an open area. A hedge or privacy fence can serve the same purpose in your backyard. If you don’t have room for a large woody vine, try one of the other aromatic spring beauties in the list below. Fragrant spring flowers Make sure a few of these spring bloomers are close to areas you visit frequently so you can enjoy what they have to offer. Common lilac Syringa vulgaris  Dianthus Dianthus spp. and hybrids  Hyacinth Hyacinthus orientalis  Lily-of-the-valley Convallaria majalis Mockorange Philadelphus spp. and hybrids  Peony Paeonia lactiflora Star magnolia Magnolia stellata Stock Matthiola incana 2. Choose a pretty spring color palette Pastel colors, such as the pink, lavender and white above, create a classic spring look. These soft colors are easy to mix and match. Frame an entry with them to give your front door a laid-back and relaxed style. Swap those pink tulips for bright orange ones and you’d change the mood from serene to peppy. 3. Balance scale and size of plants in the spring garden Doesn’t a photo of a lush green lawn path beckon you to wander in and see what other views might be around the corner? Grow a few large spring-blooming shrubs in areas far from the house. Big sweeps of vibrant color from these rhododendrons are perfect for attracting attention to vistas. The brighter the better, if you want a lot of impact from the view out of your back window. Save sweet little combos like the one at right for an often-used path or an area next to your favorite seating spot. Smaller plants, such as the yellow archangel, are more in scale with these situations and often have smaller blooms or more subtle flower colors that are harder to see from a distance. Foliage plays a role in the spring garden, too Not every good-looking plant in spring has flowers. Emerging plants can be a part of the show, too. Look for the graceful curl of hostas unfurling as they poke through the soil and upright ferns uncoiling their fiddleheads. And check your epimedium every day to see its changes in leaf color. 4. Adding bulbs to your spring garden is a no-brainer When you think spring, it’s only natural to start with a few bulbs. Tulips, daffodils, grape hyacinths and many other spring-blooming bulbs are so easy to grow. Take the petite greigii tulips — they perk up this foliage-filled border with minimal care. They’ll even naturalize, or spread on their own, if you keep the soil on the dry side through summer. How would you like even more bulbs that will expand into a big pool of color in your garden? Check out the list of bulbs below for a few that can naturalize in your garden. Bulbs that will spread in your spring garden Start with just a few of these bulbs, and give them a sunny spot with good drainage. It won’t take long for you to have a big patch of color that brightens your spring garden. Camassia Camassia quamash  Crocus Crocus spp. and hybrids  Daffodil Narcissus spp. and hybrids  Grape hyacinth Muscari armeniacum  Grecian windflower Anemone blanda 5. Add trees and shrubs for structure in your spring garden Not all spring-flowering shrubs are as flashy as rhododendrons. But trees and shrubs provide the overall structure essential for a good-looking garden design. Plus spring-blooming annuals, perennials and bulbs are perfect under a deciduous tree. The smaller plants will soak up the sun and bloom like crazy before getting shaded out by the leaves above. Once the canopy fills in, it protects the foliage below from getting too crispy. Flowering crabapples and ornamental pears are stunning in bloom but trees don’t have to flower to be impressive. Many have attractive features that are well worth bragging about. Take river birch, for example. Its shaggy bark adds a unique texture that complements the spring flowers nicely. When the blooms below fade, the tree continues its performance year-round. Shrubs are great additions to a spring garden Shrubs are a great choice if you don’t have a lot of room in your yard but still want the height and structure a tree provides. Why not try the pearlbush? This low-maintenance specimen is also drought-tolerant, once established. Its small white flowers aren’t fragrant, but they usually last a couple of weeks in spring. To protect the buds from a late frost, give pearlbush a sheltered spot next to a wall, or on the east side of the house. 6. Don’t forget spring planters! Whether it’s early, mid- or late spring, you can dress up entries, patios and decks with containers. Tulips and wishbone flowers are surrounded by bacopa and creeping Jenny, which seem to flow out of the planter. The wishbone flower will eventually get leggy, so go ahead and cut it back by a third and it will bloom again in fall. When the tulip flowers are past, pull the bulbs and replace them with a summer-blooming favorite. Garden center shortcut Instead of having to chill or overwinter your own bulbs, make it easy on yourself and buy some already in bloom at the garden center. Look for open flowers to help you decide on the color and then pick up plants that are labeled and in tight bud for a longer-lasting show. Read more at GardenGateMagazine.com

Everyone is looking for easy ways to spruce up their home. As springapproaches, those warm, cozy rooms that were so inviting in the cold canlook cluttered and dark. If redecorating every season isn’t in your budget –and how many people can – then consider adding or changing a rug or twofor big impact and often less than $500. Rugs have the ability to transform the look and feel of a room, addinginterest, style, and personality. These decorative elements can be easilychanged, stored, or removed as the season or mood determines. Imagine abright blue area rug in the kids’ room or a soft-toned Kilim added to thefamily room. Experiment with color, size, and texture which can change theatmosphere of the space in a few short minutes. Rugs can also change the feel of the room by defining different areas.Modern floor plans boast big open spaces, so adding a rug under the sofacan distinguish it from the dining area, as an example. Different colors andpatterns will affect the energy of the room as well. Bedrooms would benefitfrom the calming tone-on-tone of a neutral hue while a busy kitchen mightbe enhanced with a pop of bright yellow or red near the sink. Big box home stores and local marketplaces are filled with rugs of all sizesand colors. Even the larger area rugs can cost less than $500. Changing oradding a rug is a great way to change the look and feel of any room,updating or elevating the atmosphere and sense of home.

Selling a home in the best of situations can be stressful; adding in a divorceand selling a home can seem impossible. It’s an emotional time for thewhole family and this can cause you to make the wrong decisions in thesales process. In addition to finding the right real estate agent, whounderstands and can help guide you, here are a few tips for navigating thisdifficult process. Agree on Clear Objectives Before listing your home, sit down with your partner and define the goals ofthe sale. Do you want to move quickly? Are you willing to wait to maximizeprofits? Create a timeline with benchmarks and decision points togetherand understand how and when to reevaluate the goals. Open Communication Divorce involves complex emotions and selling the family home cancertainly add to the stress. Determine ahead of time how, and how often,you will communicate regarding the progress of the sale. If amicable, youmay be able to discuss the details together, if not, consider using amediator to help. Set Realistic Expectations Discuss with your agent the expectations for listing, price, showings, openhouses, etc. If one party is still living in the home, it can be especiallydisruptive to show the home on short notice. Both parties must agree to theparameters, to avoid conflict. Selling a home during a divorce can be particularly difficult. By working withyour agent and your partner, you can minimize the emotional turmoil byplanning.

Home Search Frustration? How to Refocus and Keep Going The best part of buying a new home is going out and touring homes. This isespecially true for first-time home buyers. As time goes on, however, it canbe frustrating when each home falls short of expectations. While it’simportant to be realistic about what is available and affordable, there canbe a temptation to settle when the right homes don't pop up quickly. When this happens, it’s important to take a step back and reevaluate thecriteria. Often buyers head out without a solid list of “must-have” and“like-to-have” features in mind. If finding the right home is becomingdifficult, then this is the time to create or review these items. Considerlifestyle as well as willingness to renovate or remodel. Is it important thehome is turn-key on day one, or is there a willingness and ability to makechanges after the sale? Focus on the “must-have” list first. There could be a beautiful chef’s kitchenon the “like-to-have” but if 4 bedrooms are critical for the size of the family,the larger kitchen will not compensate for long. That said, if the hope is tofind a home with a pool, is there room to add the pool later? Finding the right home is often a matter of timing. Patience is the bestadvice. With the start of the new year, new listings are hitting the marketevery day. The perfect home may not have been listed yet.

As home prices continue to rise, consumers are getting a break from theFederal Housing Administration who regulates the loan limits forconforming and government guaranteed loan programs. Home loans are categorized into government guaranteed, conforming, andjumbo lending products. As the name suggests, jumbo loans are largerloan amounts for more expensive properties and multi-unit dwellings.These larger loans will have higher interest rates and require larger downpayments due to the risk associated with the loan. So, being able to utilizegovernment conforming loans can save homebuyers thousands of dollarsover the life of the loan. According to NAR, starting in 2024, the new conforming loan limit willincrease to $766,550; an increase of $40,350. The new maximum loanvalue for FHA will increase to $498,257, which is an increase of $60,000.These baseline values are guaranteed by the federal government anddesigned to give homebuyers more choice and buying power tocompensate for the higher home prices. It’s good to note also that in more expensive areas, the conforming loanlimit is even higher. For example, in California, New York, District ofColumbia, and Hawaii the conforming loan limit will be $1,149,825.   Government guaranteed loans offer strong value to homebuyers. Not onlyare they easier to qualify for, but they also require lower down paymentsand lower interest rates than jumbo or non-conforming loans. As homevalues continue to rise, the increase in loan limits will allow homebuyers tofind an affordable home and payment.

Limit Disruptions During the Holiday Showings    Selling your home during the holidays requires a balance between familycelebrations and public access. While your home may look its best, it canbe challenging to accommodate the last-minute showings. Communicationwith your agent is critical and with proper planning, you can minimize thedisturbances while still allowing potential buyers to view your property. · Showing Windows – Working around your holiday schedules, aswell as your agent’s, state clearing in your real estate listing the show timesyou will allow. An example might be a 4-hour window on weekends or a2-hour time frame weekday evenings. · Advance Notice – State clearly that all buyers must reach you priorto showing up. Of course, some will still stop by, but you can minimize theimpact by asking for advance notice. · Online Tools – The more pictures and videos the better. If yourpotential buyers can view your home online, you are more likely to get theright buyers setting appointments. You may get fewer showings, but theywill be the right ones. · Clean-up Stations – You want your home to look festive, but this canlead to clutter. Keep clean-up bins in strategic locations so you can easilyhide unnecessary items on short notice. Again, communication is more important than ever during the holidayseason. You are in control. Set realistic privacy boundaries and hold tothem. This allows you to showcase your home in its best light, without thedisruption to your family traditions.

One of the most important elements of any home is the roof. The roof is thefirst line of defense in protecting the home from weather-related issues,such as wind, fire, and rain. Over time, the constant abuse can take its toll,and your roof will require some attention. But how do you know if youshould replace it or just repair it? There are a few things to consider beforemaking the decision. The Age of the Roof – Most roofs come with a 10-year warranty and areexpected to last for anywhere from 20-25 years. Some tile roofs should lasteven longer with some simple maintenance for the under sheathingExtent of the Damage – Sometimes the extent of the damage is great,such as when there has been a large storm. Other times the original roofwas not installed properly or has structural issues, causing widespreaddamage Cost – You may find when comparing the cost of the repairs to the expenseof a new root, that the new roof is simply a better value. Always getestimates for both. Insurance - Insurance companies view an older or deteriorated roof as aliability. In their eyes, it's more likely to leak, collapse, or suffer other typesof damage, which means they're more likely to have to pay out a claim.Because of this, some insurers require roofs to be under a certain age or ingood condition as a condition for providing coverage. Personal Considerations – Are you planning to stay in the home for along time? In this case, replacement now will be more economical thanreplacing later when costs have increased. Finally, consult a few professionals. Discuss the issues for bothreplacement and repair with a few trusted roofing specialists and yourinsurance agent before making the final decision.

There is nothing more frustrating for a seller than to watch houses aroundthem sell like hot cakes while theirs lingers on the market. Finally, when thelisting expires, they find themselves asking why? Why didn’t my house sell?In a robust housing market like we’ve had the past few years, the goodnews is there are some common reasons why a home doesn’t sell. If youfind yourself in this position, ask yourself these questions, and then correctthem and relist them. · Did You Stage Your Home? We’re not talking about expensiveservices that bring in all new furniture here, but you do need to make yourhome attractive. The basic “curb appeal” rule still applies, even in a “sellers’market.” · Did You Limit Access? When homes are moving quickly, it’stempting to assume every home will get multiple offers. But buyers stillwant to view the home before making that offer, if your home is difficult tosee, you will lose potential buyers. · Did You Price Your Home Correctly? Setting the right price isalways important. Even when prices are rising, an unrealistically high listingprice will cause buyers and their agents to ignore the home. · Did You Hire The Right Agent? Sometimes, it really is the agent’sfault. The right agent will properly market the home, communicatefrequently, offer advice about price/offers, and make themselves available.They should be giving feedback throughout the process about adjustmentsto ensure that the home is seen and is appealing to potential buyers. If you answered “no” to these questions, then relisting may be a greatoption. Make the changes you need to, and then relist the property. Thistime, you may not need to ask yourself, “why didn’t my home sell”?

When buying or selling a home, often misunderstandings occur over thedistinction between “real” and “personal” property. Real estate agentsacross the nation frequently end up playing referee in situations fueled bymisconceptions, which can create tension and sometimes even kill a sale.Understanding the difference is important to anyone engaged in a realestate transaction. In simple terms, “real” property is the land and anything permanentlyattached to it, while “personal” property are items that are moveable. In thissense, real property obviously includes the home itself, along with otherstructures, such as a detached garage or barn, etc. It typically includesfixtures inside the home, such as lighting, faucets, built-in appliances,garage storage or racks, even curtain rods. “Personal” property, being moveable, would usually include everything else.A refrigerator that is not considered a built-in could be included on this list.So would a free-standing BBQ Island, or a mounted TV. As you can see,some of these items may be controversial if there is not a clearunderstanding about what the seller intends to take with them when theymove in the contract. The best practice is for a seller to provide a list of any item they intend tokeep that could be confusing and ensure it’s spelled out on the contract.This way, both parties have a clear understanding of the sale and the buyerdoes not plan a family BBQ on move day and find it gone.

New homebuyers often tell their agents that they are looking for their “starterhome.” Several factors go into this approach. These are typically younger buyers,often without children. They may be looking for a maintenance-free home, like acondo, or they might assume that starter homes are more budget-friendly. Thereare plenty of good reasons to buy a home with the assumption that it’s only for afew years, but it’s usually wise to consider the fact that it might be for muchlonger. As 2020 demonstrated so clearly, things can change without warning.Homebuyers choosing a small condo with the intention of living in it for only a fewyears might later find themselves trying to carve out space for children due toemployment challenges or market changes. The good news is that many times—once you add in association fees, taxes, and other costs—an older home thatneeds updating could be just as economical as a brand-new condo with all thelatest design features. When buying your first home, it’s important to consider how you would manage ifyou needed to stay longer than expected. An older home might offer a yardwhere you could expand, or extra rooms which can become bedrooms. Theseoptions can give you flexibility as your lifestyle changes over the years.If you buy your first home with the future in mind, you can protect yourself fromthe unexpected income changes, real estate price booms, or any other outsideinfluence. Don’t discount the older fixer-upper simply because you plan to movein a few years—plans change, and giving this some prior thought can help youadjust more painlessly in the future. 

Old Credit Issues? Ask Your Lender toManually Underwrite Your Loan Manual underwriting is how all loans were evaluated before computer algorithmstook the human logic out of the process. Simply stated, a loan that is manuallyunderwritten is one where a person evaluates the file for the borrower’s ability tomake the loan payments. For those who have had credit issues in the past thatare easily explained and understood, requesting a manual underwriter may makethe difference between getting the loan or not. Almost everyone has gone through difficult financial times at some point in life.Perhaps a divorce or job layoff caused a glitch in the otherwise good credit of theborrower. A computerized system only catches the credit score and number oflate or missed payments. A good credit risk can turn into a poor one simplybecause a computer can’t understand the circumstances which caused theproblem—but a person can. How Does It Work? Before an underwriter will approve a loan, they need to understand theborrower’s ability to pay and their overall financial situation. The loan packagewill include bank statements, tax returns, pay stubs, savings accounts, and otherforms of verification. The underwriter will review the provided documentation and any personalstatement of explanation provided for negative records. They will consider notjust the credit score, but also recent job promotions and special situations whichexplain a difficult period in an otherwise perfect record of on-time bill paying. Inshort, they can view the overall package from a human perspective and make areasonable decision. For anyone who has had a difficult financial history due to divorce, job loss, adeath in the family, or failed business, asking for a manual underwriting reviewcan prove their creditworthiness and obtain a loan that would otherwise havebeen out of reach.