Are Home Prices Softening or Are They Falling?

Market prices are beginning to balance, not FALL. We’ve gotten used to the pace of price increases and now they’re showing signs of slowing down. Listing prices will have to follow suit to be in line with the current market.

We are beginning to see reports that more housing inventory is coming to the market and that buyer demand may not be increasing at the same pace it did earlier this year. The result will be many headlines written to address the impact that these two situations will have on home values.

Many of these headline writers will confuse “softening home prices” with “falling home prices,” but there is a major difference between the two.  Learn more…

Where Are Mortgage Interest Rates Headed In 2019?

The interest rate you pay on your home mortgage has a direct impact on your monthly payment; the higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.

Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next year.  Learn more…

Get Your Home Ready for Fall!

Have you noticed the shorter days and the chillier mornings? Now that Fall is slipping in, it’s the perfect time to get your home in shape before Winter is upon us.

Sealing Gaps:  Caulk and seal around exterior doors, window frames and siding.
Roof:  Check the roof for missing or damaged shingles to prevent water damage. Although you should always have a qualified professional inspect and repair the roof, you can do a preliminary survey safely from the ground using binoculars or use an extending pole with mirror.
Gutters:  Clean out gutters and eaves disposing of leaves, sticks, and other debris. If you have leaf guards, you’re ahead of the game. Check your gutter and downspouts for damage or wear, and make any needed repairs so water flows away from your home.
Hose:
  In climates with freezing weather, shut off outdoor faucets and make sure exterior pipes are drained of water. cover the faucet with a foam cup to protect it from cold air.  Faucets and pipes can freeze and burst, causing leaks and potentially serious water damage.
Crawl Space Vents: These vents allow outside air to circulate under the floor in summer to prevent the moisture buildup that encourages mildew and rot. In winter, when the air is drier, the vents are closed to reduce the chance that the pipes in the crawl space might freeze or keep out unwanted critters looking for a cozy place to nest.
Furnace:  Have the furnace inspected to ensure it’s safe and in good working order. Most utility companies will provide basic inspections at no charge, but there can often be a long waiting list come fall and winter. Changing your filter regularly will help the furnace run more efficiently, saving you money and energy.
Fireplace:  If you enjoy the crackle of a wood-burning fireplace on a chilly fall evening, have the firebox and chimney professionally cleaned before lighting a fire this season. Creosote, a byproduct of wood burning, can build up to dangerous levels and cause a serious chimney fire if not removed. For gas fireplaces, follow manufacturer instructions for maintenance.

Here’s to another delightful season!

How to Prepare Your Home for Sale

  • PAINT:  Easiest way to freshen the look and update.  Neutral colors attract more buyers.
  • LET FRESH AIR IN:  Get rid of strong odors like tobacco, pets, or food and add fresh flowers or bake cookies.
  • CLEAN EVERYTHING:  Cleanliness signals a well-cared for home vs. messy/dirty allows more focus on flaws.
  • FIX ANYTHING BROKEN:  Don’t give a buyer a reason to make a lower offer.  Fix known issues to present a well-cared for home.
  • LET THE LIGHT SHINE IN:  Make the space more inviting with open blinds or curtains and brighter light bulbs.
  • DECLUTTER BEFORE SHOWING:  Have a garage sale and clear counter tops.  The less distraction, the more a buyer can see themselves in your home.
  • REMOVE PETS FOR SHOWINGS:  Avoid allergy issues and distracting interaction with your pets.

Contact us today for a comprehensive To Do List.