Real Estate News

The family room has long been the favorite room in the house—it’s where homeowners get to spend quality time with other family members. However, as the significant increase in time spent at home during the pandemic has changed preferences, homeowners now favor quieter and more private areas in the home.

In a survey of more than 2,000 Americans, the new favorite room in the home: the master bedroom. In the survey, conducted by Ally Home, some respondents said it’s their new favorite spot because it’s where “they can hide from family members.”

Here are the five favorite rooms in the house, according to the Ally Home survey:

1. Master bedroom: 27%
2. Family room: 14%
3. Kitchen: 10%
4. Master bath: 9%
5. Man or woman cave: 7%

Spending so much time at home over the last year has also sparked a wave of house projects among many homeowners. Eighty-eight percent of the 2,000 homeowners surveyed say they’re considering improvements to their homes to make it more “staycation-ready.” The most popular projects center on the outdoors:

• 38% are considering installing an in-ground or above-ground pool or spa.
• 35% are considering building an outdoor athletic court.
• 29% are considering improvements to their porch, deck or patio.

Your Edge

Wondering whether making improvements to your current house is the right things to do? Call an agent who is familiar with your area. They’ll be able to help you determine the best course of action.

Filed under: Home Improvement, Real Estate News by Olga Gilmore

In a normal market, it’s good to have an experienced guide coaching you through the process of buying or selling a home. That person can advise you on important things like pricing your home correctly or the first steps to take when you’re ready to buy. However, the market we’re in today is far from normal. As a result, an expert isn’t just good to have by your side – an expert is essential.

Today’s housing market is full of extremes. Mortgage rates hovering near record-lows are driving high buyer demand. On the other hand, an absence of sellers is creating record-low housing inventory. This imbalance in supply and demand is leading to a skyrocketing rate of bidding wars and more houses selling over their asking price. This is driving home price appreciation and gains in home equity. These market conditions aren’t just extreme – they can be overwhelming. Having a trusted expert to coach you through the process of buying and selling a home gives you clarity, confidence, and success through each step.

Here are just a few of the ways a real estate expert is invaluable:

• Contracts – We help with the disclosures and contracts necessary in today’s heavily regulated environment.
• Experience – We’re well-versed in real estate and experienced with the entire sales process, including how it’s changed over the past year.
• Negotiations – We act as a buffer in negotiations with all parties throughout the entire transaction while advocating for your best interests.
• Education – We simply and effectively explain today’s market conditions and decipher what they mean for your individual goals.
• Pricing – We help you understand today’s real estate values when setting the price of your home or making an offer to purchase one.

A real estate agent can be your essential guide through this unprecedented market, but truth be told, not all agents are created equal. A true expert can carefully walk you through the whole real estate process, look out for your unique needs, and advise you on the best ways to achieve success. Finding the right agent should be your top priority when you’re ready to buy or sell a home.

So, how do you choose the right expert?

It starts with trust. You’ll have to be able to trust the advice your agent is going to give you, so make sure you’re connected to a true professional. An agent can’t give you perfect advice because it’s impossible to know exactly what’s going to happen at every turn – especially in this unique market. A true professional expert can, however, give you the best possible advice based on the information and situation at hand, helping you make the necessary adjustments and best decisions along the way. The right agent – the professional – will help you plan the steps to take for success, advocate for you throughout the process, and coach you on the essential knowledge you need to make confident decisions toward your goals. That’s exactly what you want and deserve.

Your Edge…

It’s crucial right now to work with a real estate expert who understands how the market is changing and what that means for home buyers and sellers. If you’re planning to make a move this year, contact a local real estate professional who can answer your questions, give you the best advice, and guide you along the way.

Keeping Current Matters | June 14, 2021

Filed under: Real Estate News by Olga Gilmore

Mother’s Day was this Sunday, and in a year full of homebuying buzz, many moms may be reflecting on their own home purchase.

As it turns out, a lot of moms have been left unsatisfied with their home — more than 1 in 4 wish they had purchased a different home, according to a new study by LendingTree. Moms are also nearly twice as likely to experience homebuyer’s remorse than dads, only 14 percent of which experience those same feelings of regret toward their home.

For this report, LendingTree commissioned an online survey through experience management firm Qualtrics of 1,006 parents with kids aged 18 or younger. The survey ran from April 8 through April 15, 2021.

As the market continues to go strong, LendingTree’s study found that a whopping 64 percent of parents are considering selling their home in order to try and find the dream home they may have missed before.

Here are the numbers:

Most parents wish they had a larger kitchen, at 23 percent of survey respondents. After that, the things parents most wanted to change was their amount of outdoor space (14 percent) and their home’s location (11 percent), all somewhat predictable factors given the pandemic’s impact on how people live and have come to see their homes more as a sanctuary.

Broken down by gender, dads showed a stronger preference for a larger kitchen (26 percent of dads compared to 17 percent of moms), while moms showed a greater desire to change the overall layout of their home (13 percent of moms compared to 7 percent of dads).

More than 1 in 5 parents reported that they feel frustrated about their home on a daily basis, adding stress to their lives. In total, 64 percent of parents said their lives would be less stressful if they could eliminate the pain points of their home. More dads felt their home’s pain points weighing on them at 72 percent, while just 54 percent of moms said removing their home’s pain points would reduce their stress.

A sizable portion of parents have called in the professionals for their home, with 42 percent reporting they’ve used designers or professional organizers. Another 25 percent of parents stated that they would like to use these kinds of professional services to help with their home’s pain points.

Staying at home for most of the year has resulted in parents increasing their spending on home decor too — 51 percent of parent homeowners said they spent more money than usual on home decor within the last year. For 35 percent of parents, those costs added up to at least $1,000.

When it comes to sharing the true cost of those home decor expenses, dad was guilty more often than mom: 79 percent of dads said they’ve purchased home items and hid their true cost, while 50 percent of moms did the same.

Inman Select | BY LILLIAN DICKERSON | May 07, 2021

Filed under: Real Estate News, Uncategorized by Olga Gilmore

Homeowners ready to make a move are definitely in a great position to sell today. Housing inventory is incredibly low, driving up buyer competition. This gives homeowners leverage to sell for the best possible terms, and it’s fueling a steady rise in home prices.

In such a hot market, houses are selling quickly. According to the National Association of Realtors (NAR), homes are typically on the market for just 18 short days. Despite the speed and opportunity for sellers, there are still steps you can take to prep your house to shine so you get the greatest possible return.

1. Make Buyers Feel at Home

One of the ways to make this happen is to take time to declutter. Pack away any personal items like pictures, awards, and sentimental belongings. The more neutral and tidy the space, the easier it is for a buyer to picture themselves living there. According to the 2021 Profile of Home Staging by NAR:

“82% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”

Not only will your house potentially attract the attention of more buyers and likely sell quickly, but the same report also notes:

“Eighteen percent of sellers’ agents said home staging increased the dollar value of a residence between 6% and 10%.”

As Jessica Lautz, Vice President of Demographics and Behavior Insights for NAR, says:

“Staging a home helps consumers see the full potential of a given space or property…It features the home in its best light and helps would-be buyers envision its various possibilities.”

2. Keep It Clean

On top of making an effort to declutter, it’s important to keep your house neat and clean. Before a buyer stops by, be sure to pick up toys, make the beds, and wash the dishes. This is one more way to reduce the number of things that can distract a buyer from the appeal of the home.

Ensure your home smells fresh and clean as well. Buyers will remember the smell of your house, and according to the same report from NAR, the kitchen is one of the most important rooms of the house to focus on if you want to attract more buyers.

3. Give Buyers Access

Buyers are less likely to make an offer on your house if they aren’t able to easily schedule a time to check it out. If your home is available anytime, that opens up more opportunities for multiple buyers to go from curious to eager. It also allows buyers on tight schedules to still get in to see your house.

While health continues to be a great concern throughout the country, it’s important to work with your agent to find the best safety measures and digital practices for your listing. This will drive visibility and create access options that also keep everyone in the process safe.

4. Price It Right

Even in a sellers’ market, it’s crucial to set your house at the right price to maximize selling potential. Pricing your house too high is actually a detriment to the sale. The goal is to drive high attention from competing buyers and let bidding wars push the final sales price up.

Work with your trusted real estate professional to determine the best list price for your house. Having an expert on your side in this process is truly essential.

So…,

If you want to sell on your terms, in the least amount of time, and for the best price, today’s market sets the stage to make that happen. Contact a local real estate professional today to determine the best ways to maximize the sale of your house this year.

Filed under: Home Tips, Real Estate News by Olga Gilmore

A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes.

Do Americans believe a home is a better investment than stocks?

In a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks.

Here’s how the results break down:The survey also shows a wide range of reasons why Americans feel that way (respondents were able to pick more than one answer):

Bottom Line

The data show how strongly Americans believe in homeownership as an investment. That belief is warranted. The Liberty Street Economics blog put it best by saying:

“Housing represents the largest asset owned by most households and is a major means of wealth accumulation, particularly for the middle class.”

Filed under: Real Estate News by Olga Gilmore