It seems like the year has flown by. I hope it has been a good one for you.
As the end of 2019 approaches, you may be making plans for the coming year and thinking about what the new year will bring for you and your home.
You may, for example, be thinking of doing some renovations or redecorating. You may even be considering making a move in 2020, or at least exploring the possibility.
No matter what you’re planning, it’s not too soon to take some initial steps.
In fact, if you’re considering looking for a new home in the spring, this is the ideal time to start doing some preliminary work – such as determining the market value of your current property, getting a prearranged mortgage, and identifying neighborhoods you’d like to consider.
Spring can be a very busy time in the real estate industry, so the relative calm of November and December can be the perfect time to get some plans in place.
I’m always here to help if you need me. Call anytime.
“The highest compliment anyone can give me is to recommend me to a friend. If you know of anyone with a real estate need, I would appreciate your referral, and promise to take good care of them”.
September 2019 National Housing Report
HOME SALES YEAR-OVER-YEAR DIFFERENCE +8.1%
September 2018 to September 2019
MEDIAN SALES PRICE SEPTEMBER 2019 $254,500
+4.5% from September 2018
AVERAGE OF 46 DAYS ON THE MARKET
Equal to September 2018
NUMBER OF HOMES FOR SALE
-6.1% from September 2018
*** Average of 54 metro areas.
How to Quick-Prep Your Home for Sale
Ideally, you should plan to have plenty of time to prepare your home for sale. You want to be able to get everything fixed and cleaned up, and perhaps even make a few improvements, such as installing a new countertop in the kitchen.
For any number of reasons, that’s not always possible. If you have to suddenly relocate for work, for example, you may have only days to make your home “show ready” for the market.
What should you do? The answer is: the essentials.
First, arrange to get any maintenance issues dealt with immediately. If you have a clogged shower drain or cracked windowpane, call a professional repair person. Even if those items don’t get fixed by listing day, you can inform buyers that the repairs are scheduled – and that receipts proving that the work was done professionally will be available.
Next, you need to do a thorough clean-up. Staging experts (those who professionally prepare homes for sale) unanimously agree that making each room look neat and tidy is essential. Even something as seemingly minor as dust accumulation on blinds can impact buyers.
If you still have time available before the For Sale sign goes up, consider doing some redecorating. Stand in each room and ask yourself, “How can I make this room look more spacious and appealing?” Oftentimes, simply rearranging the furniture and moving a few items into storage will make a dramatic difference.
Yes, prepping your home on a tight schedule takes some work. However, in just two or three days, you’ll have a property that is more attractive to prospective buyers. It will show better, and, as a result, it will likely sell faster.
Looking for more ideas for selling your home, quickly? Call today.
Décor Color Choices Can Be Psychological
Although choosing a room’s color is highly personal, it’s worth noting that studies have linked specific color tones to psychological behaviors. In fact, many doctors, scientists and design experts believe that certain colors can actually influence your mood or motivation.
The following list provides a general interpretation of commonly held views about how we perceive color. It may help you decide on the colors you’ll use in your next interior painting or decorating project. While some suggested connections may seem obvious, others might surprise you.
White: cleanliness, purity, innocence.
Yellow: concentration, attentiveness, optimism.
Orange: abundance, expressiveness, passion.
Red: emotion, creativity, appetite.
Purple: status, opulence, indulgence.
Blue: trust, confidence, productivity.
Green: tranquility, comfort, nourishment.
Brown: honesty, sincerity, simplicity.
Black: contemplation, dedication, commitment.
Of course, subtle differences in hues and shades can evoke different emotional responses. As a result, complementary colors can sometimes seem to conflict with the expected psychological response to your primary selection. So, despite all the available scientific information, you should consider your instincts as well.
Choosing a “Seller-Friendly” Contractor
Although there are many terrific contractors out there, there are always a few bad apples. When preparing your home for sale, you need a contractor that gets your job done on time, on budget and without creating a big mess.
To help make sure that happens, ask prospective contractors these questions:
- “Will I be issued a receipt detailing the work done?” This is handy to have as you might want to show it to buyers.
- “Do you thoroughly clean up the work area each day?” This is especially important if your home will be shown to buyers during this period.
- “Is the project schedule realistic? Is there a chance the work might take longer than expected?” Delays can negatively impact the sale of your home. It’s better to get a realistic timeline from the contractor, rather than an ambitious one.
- “Under what circumstances will the final price be higher than quoted?”
Of course, you also need to check references and do other due diligence to ensure the contractor is a “good apple”.
Looking for a contractor recommendation. Call today.
Homeownership is the Top Contributor to Your Net Worth
Recently two U.S. Census Bureau researchers released their findings on the biggest determinants of household wealth. What they found may help shape your view on building your family’s net worth.
Many people plan to build their net worth by buying CDs or stocks, or just having a savings account. Recently, however, Economist Jonathan Eggleston and Survey Statistician Donald Hays, both of the U.S. Census Bureau, shared the biggest determinants of wealth,
“The biggest determinants of household wealth [are] owning a home and having a retirement account.” (Shown in the graph below):
This does not come as a surprise, as we often mention that homeownership can help you to increase your family’s wealth. This study reinforces that idea,
“Net worth is an important indicator of economic well-being and provides insights into a household’s economic health.”
Having equity in your home can help your family move in that direction, building toward substantial financial growth. According to the report noted above, people are not only creating net worth in the homes they live in, but many are also earning equity in rental property investments too. (See below):
John Paulson said it well,
“If you don’t own a home, buy one. If you own one home, buy another one, and if you own two homes buy a third and lend your relatives the money to buy a home.”
Bottom Line
There are financial and non-financial benefits to owning a home. If you would like to increase your net worth, let’s get together so you can learn all the benefits of becoming a homeowner.
