The peak moving season is upon us. In fact, according to Move.com, almost 70% of U.S. moves occur between May and September.¹ And while the percentage of Americans who move each year has declined, the desire to relocate remains strong.^2,3

In fact, Architectural Digest recently declared "Americans are restless" after a survey found that 55% of adults "are moving, plan to move, or want to move" in 2024. The top reasons included: increased affordability; desire for safety; and closer proximity to work, family, or friends.³

If you're one of those millions of Americans yearning for a change, this guide is for you.

Sure, moving can feel overwhelming, and it's notoriously stressful. But, we've outlined six steps to make your move easier. Our hope is to alleviate some of the hassle of relocating—so you can focus on the adventure ahead!

1. CHOOSE A COMMUNITY

When planning a relocation, one of the first things you'll need to decide is where you want to live. This could be as broad as an area of town, or you might narrow it down to a specific neighborhood.

Depending on your priorities, you may want to start with communities that are close to work, friends, family and/or your preferred schools. If you commute, map out the route and check on the availability of public transportation, if you plan to use it. Then, if possible, try out the commute during rush hour to see what it's like.

Next, it's crucial to consider housing prices and cost of living so you don't set your sights on an area that you can't realistically afford. Don't forget to look up local crime statistics to ensure the community is safe. Finally, visit any neighborhoods you're considering to gauge the vibe and observe characteristics, like pedestrian accessibility, retail offerings, and population density.

Researching the ins and outs of various communities can be a time-consuming and sometimes difficult process, but we're here to help! Give us a call to discuss your needs and aspirations, and we'd be happy to provide our recommendations of neighborhoods that may be a good fit for you.

1. FIND YOUR NEW HOME

Once you've chosen an area to settle, the next decision you'll need to make is whether you want to rent or buy a home. Renting can be a good option if you're new to town, especially if you're still saving up for a downpayment or you're not ready to commit to a permanent location. Benefits include flexibility, less maintenance, and lower upfront costs.

But, if you want to avoid multiple moves—and you're financially able—there's no reason to delay the benefits of buying a home. Not only has homeownership been shown to increase your quality of life, but it's also one of the best ways to protect and grow your wealth.⁴

The value of real estate will typically appreciate over time, and owners can build equity as they pay down their mortgage. Homeowners can also receive federal income tax deductions for mortgage interest and property taxes.

But, perhaps most importantly, homeownership offers stability. Property owners aren't subject to the mercy of their landlords each year. According to Statista, average U.S. rental prices have risen more than 42% in the past 10 years.⁵ In contrast, a fixed-rate mortgage payment doesn't rise at all.

If you decide to purchase a home and you choose us to represent you, you can rest easy knowing that we will be there for you throughout the entire journey, working hard to make the experience as easy and enjoyable as possible. Or, if you're moving to a new area, we can refer you to a local agent in our network who shares our commitment to client service.

For more information about buying a home and a timeline of the home buying process, reach out to request a free copy of our Home Buyer's Guide.

1. SELL OR RENT OUT YOUR CURRENT HOME

If you already own a home, you'll also need to start the process of either selling it or renting it out. We can help you evaluate your options based on current market conditions.

In many cases, our clients choose to sell so that they can use the equity in their current home to make a downpayment on their next one. But selling your home while simultaneously buying a new one can feel daunting to even the most seasoned homeowner.

Here are some of the most frequent concerns we hear from clients and our tips for addressing them:

• What will I do if I sell my house before I can buy a new one?

Check out furnished apartments, vacation rentals, and month-to-month leases. You may even find that a short-term rental arrangement can offer you an opportunity to get to know your new neighborhood better.

• What if I get stuck with two mortgages at the same time?

Ask us about contingencies that can be included in your contracts. For example, it's possible to add a contingency to your purchase offer that lets you cancel the contract if you haven't sold your previous home. We can discuss the pros and cons of these types of tactics and what's realistic given the current market dynamics.

• What if I mess up my timing or burn out from all the stress?

Enlist support as early as possible. It's our job to guide you and advocate on your behalf, so don't be afraid to lean on us throughout the process. We're here to ease your burden and make your move as seamless and stress-free as possible.

In addition to answering your questions, we'll give you an idea of how much equity you have in your current home so you know how much you can afford to spend on your new one. Part of that process will include a plan to maximize your current home's sale price. We utilize a proven strategy that's designed to achieve an efficient sale while boosting your profits.

For a thorough breakdown of the technologies and marketing activities we use to get you the most money for your home sale, ask us for a copy of our Property Marketing Plan.

1. PLAN YOUR DEPARTURE

Preparing for a move can be both exhilarating and exhausting. Fortunately, you don't have to do everything in a day. You don't have to do it all alone, either. When you work with us, we'll be there every step of the way to help you navigate this process with ease. To that end, here are some of our top tips to help you plan for your departure.

If you have children, we typically advise that you start by sharing news about the move in an age-appropriate way. If possible, take them on a tour of your new home and neighborhood. This can alleviate some of the mystery and apprehension around the move. Don't forget to contact their current and future schools, as well, to arrange for transfer and enrollment.

Next, you'll want to start packing. To maintain order and make unpacking easier, we recommend packing one room at a time. Clearly label each box with its contents and the room it belongs to. And remember, there's no use taking extraneous items with you. Use this opportunity to purge or donate possessions that you no longer need.

If you will be using a moving company, start researching and pricing your options. Make sure you're working with a reputable service, and try to avoid paying a large deposit before your belongings are delivered. Once you have a moving date scheduled, you should arrange to have your utilities turned off or, if possible, transferred into the new homeowner's name.

Finally, if you will be leaving friends or family behind, schedule get-togethers before your departure. The last days before moving can be incredibly hectic, so make sure you block off some time in advance for proper goodbyes.

Parting with a home and community you love can be hard, so try to stay focused on the exciting opportunities ahead. Feel free to reach out for referrals to moving companies, packing services, housekeepers, or any other resources that will make your move easier. We'd love to help.

1. PREPARE FOR YOUR ARRIVAL

While it's tempting to get wrapped up in the departure details, don't forget to plan ahead for your arrival at your new home. To make your transition go smoothly, you should start preparing well before moving day. Here are a few pro tips to help you get started.

First, think about the utilities that will need to be turned on, especially essentials like water, electricity, and gas. Be sure to notify any relevant parties—banks, credit cards, subscriptions, etc.—about your change of address so you don't miss any important bills, notices, or deliveries. You'll also want to notify the postal service and submit a mail forwarding request.

If you plan to remodel, paint, or install new flooring, it's often easier to have it done before you bring in all of your belongings. You may also want to have the house professionally cleaned before moving in.

Don't forget about the items you'll need (think toothbrush, towels, bedsheets) to make it through the first night in your new home. Designate some boxes with "Open Me First!" labels. (Pro tip: Keep a tool kit front and center for all that reassembling.)

Finally, create a list of all the restaurants you want to try and places you want to visit around your newly purchased home. Having a to-explore list keeps everyone's spirits high and gives you starting points to settle into the neighborhood. If you're relocating to our area, we can help! Reach out for a list of recommendations.

1. GET SETTLED IN YOUR NEW SPACE

Studies show that moving can lead to feelings of loneliness and depression.⁶ However, there are ways to combat these negative effects. Here are a few strategies to help you and your family get settled in the new space.

If you have children, start by unpacking their rooms first. Seeing familiar items will help ease their transition and establish a "safe zone" where they can hang out away from the chaos of moving day. If possible, let them have a say in how their room is decorated.

Pets can also get overwhelmed by a new, unfamiliar space. Let them adjust to a single room first, which should include their favorite toys, treats, food and water bowl, and a litter box for cats. Once they seem comfortable, you can gradually introduce them to other rooms in the home.

Don't forget to take care of yourself, too. Try to schedule breaks to get out of the house and investigate your new area. If you travel by foot or bicycle, you'll gain the mood-boosting advantages of fresh air and exercise.

You can combat feelings of isolation by making an effort to meet people in your new community. Find a local interest group, take a class, join a place of worship, or volunteer for a cause. Don't wait for friends to come knocking on your door. Instead, go out and find them.

To that end, make an effort to introduce yourself to your new neighbors, invite them over for coffee or dinner, and offer assistance when they need it. Once you've developed friendships and a support system within your new neighborhood, it will truly start to feel like home.

LET'S GET MOVING

While moving is never easy, these steps offer an action plan to get you started on your new adventure. With a little preparation—and the right team of professionals to assist you—it is possible to have a positive relocation experience.

We specialize in assisting home buyers and sellers with a seamless and "less-stress" relocation. Along with our referral network of moving companies, contractors, cleaning services, interior designers, and other home service providers, we can help take the hassle and headache out of your upcoming move. Give us a call or message us to schedule a free, no-obligation consultation!

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. com -
   https://www.moving.com/tips/12-tips-for-moving-during-peak-moving-season/
2. com -
   https://www.moving.com/tips/moving-trends-predictions-for-2024/
3. Architectural Digest -
   https://www.architecturaldigest.com/reviews/moving/moving-trends-survey
4. National Association of Realtors -
   https://www.nar.realtor/infographics/the-benefits-of-homeownership
5. Statista -
   https://www.statista.com/statistics/200223/median-apartment-rent-in-the-us-since-1980/
6. Psychology Today -
   https://www.psychologytoday.com/us/blog/is-where-you-belong/201607/why-youre-miserable-after-move

A growing share of home buyers and sellers sat on the sidelines last year as the pace of home sales continued its downward trajectory.¹ In fact, since the Federal Reserve began its series of interest rate hikes in 2022, the combination of higher borrowing costs and record-high home prices has fostered the steepest real estate market slowdown since the 2008 recession.²

Priced out of the market, a generation of would-be buyers has been forced to delay their plans for homeownership.³  At the same time, current owners—reluctant to give up their pandemic-era mortgage rates—are waiting to sell, which has resulted in a sharp drop in listings.⁴

But there may be some relief in sight: In December, the Fed signaled that it was done raising interest rates—and suggested that it could cut rates by 0.75% over the coming year. While mortgages don't directly follow the federal funds rate, they typically move in tandem—so cheaper home loans may finally be on the horizon.⁵

Lower mortgage rates should bring some much-needed movement back into the real estate sector. But with a market this fluid, the home buyers and sellers with an edge will be those who proactively leverage a real estate agent's on-the-ground expertise and stay flexible so that they can quickly adapt to changes.

What does that mean for you? Read on to learn more about the current state of the U.S. housing market, the potential opportunities for buyers and sellers, and economists' predictions for the year ahead.

HOME PRICES WILL REMAIN RELATIVELY STABLE

Not even 8% mortgage rates could bring home prices crashing down in 2023, as some prospective home buyers may have hoped. In fact, on average, U.S. property values ended the year higher—with declines in some areas of the country offset by appreciation in others.⁶

Prices typically fall when rising interest rates drive down demand. So what's keeping home values high?

Mike Simonsen at Altos Research points to a nationwide housing shortage: "Declining home prices probably require that supply-and-demand imbalance, and what we have is really a balance. There's a balance between low demand and low supply."⁷

Analysts expect that equilibrium to continue to prop up home prices in 2024, although the specific forecasts vary. For example, economists at Realtor.com predict that the median home price will fall slightly, by 1.7%, while those at Fannie Mae project modest price growth of 2.8%.^6,8

However, experts widely agree: Mortgage rates will be the largest driver of property values. If rates fall faster than expected, more buyers will enter the market—which could send home prices soaring higher.

What does it mean for you?  There's no evidence that home prices are headed for a major decline. So if you're ready and able to afford a home, this is a great time to test the waters. The best bargains are often found in a slower market, like the one we're experiencing right now. Contact us to discuss your goals and budget. We can help you make an informed decision about the right time to buy.

And if you've been waiting to sell your home, this could be your year. Price growth has slowed, so now is the time to maximize your equity gains while minimizing your competition. Contact us for recommendations and to find out what your home could sell for in today's market.

MORTGAGE RATES SHOULD FINALLY TREND DOWN

The best news we've got incoming for 2024? The extra-high mortgage rates that have weighed heavily on the real estate market may finally be headed south.

At its December meeting, the Fed signaled that the worst is likely behind us and that it expects to cut its overnight rate in 2024. Analysts predict that mortgage rates will fall in lockstep.⁵

"Given inflation continues to decelerate and the Federal Reserve Board's current expectations that they will lower the federal funds target rate next year, we likely will see a gradual thawing of the housing market in the new year," said Freddie Mac's Chief Economist Sam Khater following the announcement.⁹

The average 30-year fixed mortgage rate has already declined from an October high of around 8%, and analysts at Fannie Mae, the Mortgage Bankers Association, and Realtor.com all forecast that rates will trend down this year, ending 2024 closer to 6%.⁷

However, it's not all good news: It appears that the days of 3% mortgage rates are firmly behind us. "As long as the economy continues to motor along, the new normal of higher rates is here to stay," explains Greg McBride, chief financial analyst for Bankrate.⁴ So, when it comes to a home loan, borrowers may need to adjust their expectations.

What does it mean for you?  If you're a prospective home buyer, declining mortgage rates could give you the opportunity to lock in a more affordable monthly payment. And if you purchase before the market reheats, you could secure an especially good deal. To find the lowest rate, it pays to compare lenders. Ask us to refer you to a mortgage broker who can help you shop around for the best option.

Sellers also have reason to celebrate buyers' lower interest rates: As the barriers to entry to the housing market decline, they could enjoy more or better offers. Reach out to discuss how we can help you maximize your home's sales potential.

LOWER RATES WILL BRING SOME BUYERS AND SELLERS BACK TO THE MARKET

Over the past couple of years, higher mortgage rates have cooled home buyer demand. They've also delayed the plans of many home sellers, who have been reluctant to trade in their current mortgages for loans that are several points higher.

With so many market participants playing the waiting game, the real estate sector has slowed significantly. National Association of Realtors (NAR) Chief Economist Lawrence Yun estimates that the number of existing home sales fell by 18% last year following a 17% decline in 2022.¹⁰

However, as financing costs tick down, sales volume is expected to rise. "Lower mortgage rates would help spur home sales activity, which [is] expected to increase in 2024 compared to 2023," explains Selma Hepp, chief economist at CoreLogic. "Declines in mortgage rates will drive more sellers to trade their existing home and help add much-needed inventory to the market, leading to more transactions."⁴

There's also evidence that the patience of holdout home buyers may be waning, despite higher borrowing costs. A recent survey by Bank of America found that the number who are willing to wait for prices or mortgage rates to decline before making a purchase fell from 85% to 62% in just six months.¹¹

"When it comes down to it, if buying a home is your goal and within your budget, the best time to buy is when you're ready financially and you can find a home that fits your needs," Matt Vernon, head of consumer lending at Bank of America, advised in a recent release. "Even in the current interest rate environment, there are clear benefits to purchasing a home and beginning to build equity."¹¹

What does it mean for you?  If you've been waiting to buy a home, you might want to consider purchasing before the competition picks up. Pent-up demand could bring a flood of buyers back into the market as mortgage rates decline. Contact us if you're ready to begin your home search.

If you're hoping to sell this year, you may also want to act fast. An increase in listings will make it harder for your home to stand out. We can help you chart the best course to maximize your profits, starting with a professional assessment of your home's current market value. Reach out to schedule a free consultation.

THE HOUSING SUPPLY SHORTAGE WILL PERSIST

Will home buyers who are eager for options have more homes to choose from this year?

Yun thinks so. He believes sellers will soon grow weary of waiting to list. "Pent-up sellers cannot wait any longer. People will begin to say, 'life goes on,'" the NAR economist speculated at a November conference. "Listings will steadily show up, and new home sales will continue to do well."¹⁰

But not everyone agrees. Economists at Realtor.com forecast that inventory could drop by as much as 14% this year. The decline in existing homes for sale has been compounded by a persistent shortage of new construction, with single-family housing starts falling 10.3% in 2023 and 11.2% in 2022.⁶

Even so, newly-built homes are playing an increased role in easing the supply crunch, accounting for around one-third of all homes for sale in 2023—which was twice the historical average.¹² But new construction alone isn't expected to fill the inventory gap.

According to First American Financial Corporation's Chief Economist Mark Fleming, the U.S. currently has a shortfall of around one million homes, and conditions won't ease until individual owners re-enter the market. "Only when more homeowners decide to sell, and then buy again, will housing supply and the pace of sales return to anything resembling normal."¹³

​​What does it mean for you?  Inventory remains tight, but buyers can benefit from the search expertise of a real estate professional. We can tap our extensive network to access off-market and pre-market listings while helping you explore both new construction and existing homes in our area.

While sellers will continue to benefit from the low-inventory environment, they should be prepared to compete against brand-new homes. We can help you prep your property for the market and highlight the features most likely to appeal to today's buyers.

WE'RE HERE TO GUIDE YOU

While national real estate forecasts can give you a "big picture" outlook, real estate is local. And as local market experts, we know what's most likely to impact sales and drive home values in your neighborhood. As a trusted partner in your real estate journey, we'll keep our ears to the ground so that we can guide you through the market's twists and turns.

If you're considering buying or selling a home in 2024, contact us now to schedule a free consultation. Let's work together and craft an action plan to meet your real estate goals.

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. CNN -
   https://www.cnn.com/2023/10/19/homes/existing-home-sales-september/index.html
2. Goldman Sachs -
   https://www.gspublishing.com/content/research/en/reports/2023/10/23/2d814362-a656-4cb3-8586-bea8591188e3.html
3. ABC News -
   https://abcnews.go.com/US/millennials-priced-homeownership-feeling-pressure/story?id=105032436
4. Bankrate -
   https://www.bankrate.com/real-estate/housing-market-2024/
5. CBS News -
   https://www.cbsnews.com/news/interest-rates-are-paused-heres-why-thats-good-news-for-homebuyers/
6. com -
   https://www.realtor.com/research/2024-national-housing-forecast
7. NerdWallet -
   https://www.nerdwallet.com/article/mortgages/2024-homebuying-trends-property-line-november-2023
8. Fast Company -
   https://www.fastcompany.com/90991612/home-price-2024-outlook-fannie-mae
9. Freddie Mac -
   https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-drop-below-seven-percent
10. National Association of Realtors -
    https://www.nar.realtor/newsroom/nar-chief-economist-lawrence-yun-forecasts-existing-home-sales-will-rise-by-15-percent-next-year
11. Bank of America -
    https://newsroom.bankofamerica.com/content/newsroom/press-releases/2023/12/bofa-report-shows-fewer-prospective-homebuyers-willing-to-wait-f.html
12. Marketplace -
    https://www.marketplace.org/2023/11/27/mortgage-rates-new-home-sales/
13. First American -
    https://blog.firstam.com/economics/whats-the-outlook-for-the-housing-market-in-2024

It's the most wonderful time of the year. But for many families with festive plans and hectic schedules, it's also the most wasteful.

According to one survey, for example, 60% of respondents admitted to throwing away more than usual during the holiday months as they filled up their trash bins with uneaten food, wrapping paper, gift bags, and commercial packaging.¹

The reality is, Americans routinely toss about 25% more trash between Thanksgiving and New Year's than at any other time of year, according to the U.S. Environmental Protection Agency.² In fact, we throw away so much ribbon during the holidays—around 38,000 miles' worth—that the discarded material could easily run more than one and a half times around the Earth.³

As our holiday schedules grow busier, many of us also forget to take simple steps at home to shrink our carbon footprints or prepare for a more energy-efficient winter.

Luckily, it's not that hard to shift our habits and plan for a more sustainable and environmentally-friendly celebration. Here are five ideas for ringing in the holidays this year without overstressing Mother Nature.

1. PREP YOUR HOME FOR WINTER

Depending on the amount of time and resources you have available, you could cut your carbon emissions significantly this season just by winterizing your home.

Investing in a more sustainable way to warm up your surroundings—such as a geothermal heat pump or solar heating—could be especially impactful if your current HVAC is underperforming and you can afford a more expensive system.⁴ Replacing old appliances or things like chronically leaking windows with newer, more energy-efficient solutions can also save you money over the long term.⁵ Plus, you may be able to claim a federal energy-efficient tax credit for up to 30% of your investment.⁶

You don't necessarily have to spend a lot upfront, though, to prep your home for winter. Even simple tweaks—such as sealing windows and doors or upgrading to more energy-efficient window coverings—can lower your energy consumption and reduce your carbon footprint.⁷

Incorporating environmentally healthier habits into your routine can also make a meaningful difference. According to the U.S. Department of Energy, for example, dialing back your thermostat by as little as seven to 10 degrees for eight hours a day can trim up to 10% from your bills.⁸

Consider a home energy assessment to help you pinpoint what needs fixing. Depending on your comfort level, you can audit your home's energy efficiency yourself with the help of the Department of Energy's DIY Guide.⁹ Or you can hire a professional, such as a home energy auditor or weatherization contractor.¹⁰ Call us for a recommendation or personal referral.

2. DECORATE SUSTAINABLY

Decking your home's halls is one of the most jolly seasonal activities of all. There's something special about gathering 'round with friends and family and relaxing in the comforting glow of a festively decorated space.

But since so much of the holiday-themed decor that's sold in stores is notoriously disposable, it can be a challenge to spruce up your home sustainably. Cheaply produced and rarely recyclable, store-bought decorations are often made with plastic, styrofoam, and other environmentally unfriendly materials that can crowd landfills for generations.²

Luckily, you don't have to trade style for sustainability when making your holiday decor. Thrifting is still in vogue, so consider crafting new and on-trend decorations out of secondhand finds or upcycling items already in your closet.

For example, you could transform an ill-fitting sweater into a holiday-themed pillow, turn teacups into candles, or turn leftover shipping boxes into creative decorations. Alternatively, natural decor foraged from your yard—such as dried leaves, flowers, pine cones, and branches—can make for especially beautiful wreaths and centerpieces.

If you do purchase store-bought decor, proactively look for the most environmentally friendly options. LED lights are now ubiquitous in stores and use far less energy than incandescent versions.¹¹ Similarly, if you celebrate with a Christmas tree, think twice about choosing an artificial option. Plastic trees may be reusable, but natural trees are generally thought to have a smaller carbon footprint.¹

3. CUT BACK ON HOLIDAY SHOPPING

Shopping online or at the mall may be convenient, but it can be costly for the environment. The greenhouse emissions from shipping and transportation alone add up fast, as do the emissions that are produced when an item is first made. According to the online consignment and thrift store, thredUp, 4.5 billion pounds of carbon emissions could be saved if every American bought just one used item instead of new this year.¹²

Splurging on brand-new products also makes it more likely that the gently used but still functional items that you've got at home will wind up in the trash.

Rather than buy new, check vintage stores and consignment shops for unique gifts that you and your recipient can both feel good about. According to research by thredUp, most people are open to receiving gently-used presents, especially if they're socially-conscious members of Gen Z.¹² Alternatively, consider regifting items that you haven't used, upcycling something you own, or try crafting gifts by hand.

Giving away special experiences, such as concert tickets or community memberships, may also be a more eco-friendly option. So is donating to a favorite charity in a gift recipient's name or offering gifts of time, such as promising to help a loved one clean out their garage or fill their freezer with home-cooked meals.

Research shows that gift recipients often value thoughtful gifts with sentimental value, especially if they're homemade or nostalgic or will provide them with a unique experience.¹³

And if you prefer to buy something tangible, look to local businesses that source or manufacture their goods nearby. Craft fairs and community markets are a great place to start. Or, give us a call and we'd be happy to share a list of our favorite local stores, depending on the type of gift and your budget. We make an effort to patronize the independently-owned shops and restaurants around town and would love to share our recommendations.

4. GREEN YOUR HOLIDAY DINNER

Do you hail from a family of passionate carnivores? If so, trading your meat for a vegetarian option may seem like a step too far—especially for a holiday dinner.

But swapping your meat for beans isn't the only way to "'green" your holiday meal. For example, you can consciously source your meat from ethical sellers, prioritize local producers for seasonal sides, and serve enough filling vegetables to satisfy a large portion of your appetite.¹⁴

You can also minimize food waste by planning ahead so that you don't cook more than necessary. Check out the Natural Resources Defense Council's dinner party "Guest-Imator" to help you narrow down how much food you and your guests will actually need.¹⁵ In addition, consider using the USDA's FoodKeeper App to help track safety recalls and set up calendar reminders for expired food.¹⁶

Once you're finished eating, clear the table immediately and either freeze the leftovers you'd like to keep or send guests home with reusable containers. Or, if you have untouched food that's still whole or in unopened packaging, take it to a local food bank or homeless shelter. We'd be happy to share a list of options in our area.

5. DONATE OR RECYCLE WHAT YOU CAN

Once the festivities are over, the real work on behalf of Mother Nature begins. This is the time when taking a few minutes at the end of your holiday celebration to swiftly collect wrapping paper and ribbons, unwanted packaging, and other discarded items can make a real environmental difference by reducing what you send to landfills. Your goal should be to reuse what you can and compost or recycle what's left over.

For example, if you upgrade any electronic gadgets over the holidays, you can conserve resources and limit pollution by donating or properly recycling your old versions. The U.S. Geological Survey estimated that recycling a million laptop computers could help save the energy equivalent of 3,500 homes' annual usage of electricity.¹⁶ Similarly, the EPA says that recycling one million phones can help salvage 35,000 pounds of copper, 772 pounds of silver, 75 pounds of gold, and 33 pounds of palladium.¹⁷

It can also help to reimagine new ways to make old traditions more eco-friendly. For instance, if lighting candles is part of your holiday celebration, consider choosing beeswax candles this year instead of the typical paraffin wax, which is a petroleum derivative. Not only are they cleaner burning and less toxic, but the leftover wax is biodegradable and can be composted, unlike traditional candle wax.¹⁸

There are also plenty of earth-friendly ways to dispose of a natural Christmas tree without kicking it to the curb. Trees that are sent to landfills release a potent greenhouse gas called methane.¹⁹ So, it's important to properly dispose of a live tree, if you have one, so it can be recycled or composted. If you're not sure how, reach out for a list of local options.

BOTTOMLINE

We can still celebrate a fun and festive season without draining our community's resources or sending leftovers to the landfill. And remember, we're here to lend a helping hand, now or in the new year. This is the perfect time to strategize your next move or set some real estate resolutions with personalized guidance from an expert. Reach out today to schedule a free consultation.

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. Eco Watch -
   https://www.ecowatch.com/sustainable-decor-winter-holidays.html
2. Architectural Digest - https://www.architecturaldigest.com/story/best-holiday-and-seasonal-decor-for-the-environment
3. The New York Times -
   https://www.nytimes.com/2019/12/18/style/zero-waste-holiday.html
4. Environmental Protection Agency -
   https://www.epa.gov/burnwise/heat-pumps
5. S. Department of Energy - https://www.energy.gov/eere/buildings/articles/appliance-and-equipment-standards-fact-sheet
6. IRS -
   https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit
7. Energy Star -
   https://www.energystar.gov/saveathome/seal_insulate/sealing_window_door
8. S. Department of Energy - https://www.energy.gov/energysaver/programmable-thermostats
9. S. Department of Energy -
   https://www.energy.gov/energysaver/do-it-yourself-home-energy-assessments
10. Kiplinger - https://www.kiplinger.com/slideshow/real-estate/t029-s001-12-ways-to-prepare-your-home-for-winter/index.html
11. S. Department of Energy - https://www.energy.gov/energysaver/articles/reduce-waste-and-save-energy-holiday-season#
12. Thred Up - https://newsroom.thredup.com/news/thredup-releases-thrift-for-the-holidays-report-revealing-that-new-waves-of-consumers-are-planning-to-gift-secondhand-this-year
13. The Conversation - https://theconversation.com/the-4-biggest-gift-giving-mistakes-according-to-a-consumer-psychologist-195169
14. Popular Science -
    https://www.popsci.com/story/diy/sustainable-holiday-strategies/
15. Natural Resources Defense Council -
    https://savethefood.com/guestimator
16. USDA -
    https://www.usda.gov/media/blog/2018/10/04/usda-updates-foodkeeper-app-include-new-food-items
17. S. Environmental Protection Agency -
    https://www.epa.gov/recycle/electronics-donation-and-recycling
18. com -
    https://canicompostit.com/candle-wax/

CNN -

To avoid buyer's remorse, be sure to consider your future self when shopping for a home.

Most new homebuyers don't regret becoming homeowners. In fact, according to a survey by LendingTree, 80% of recent buyers who successfully overcame a challenging housing market say they're glad they found their current homes.¹ But that doesn't mean newly-minted homeowners don't have any regrets about their buying choices.

On the contrary, research shows that even the most-satisfied homeowners would change some aspects of their home purchase if given the opportunity. According to a recent survey by Anytime Estimate, nearly 3 out of 4 buyers who purchased a home in 2021 or 2022 still have a few regrets.²

Some question their decision to move to a neighborhood they still don't love. Others wish they had been less picky about where they lived so they could have paid less. Many are afraid they overspent or think they sacrificed too much in their rush to buy a home.

Here are some of the most common homebuyer regrets we see, along with our professional advice on how to avoid them.

REGRET #1: Spending More Than Necessary

No one wants to overpay for their new home purchase (and, luckily, with the right guidance, doing so is avoidable). But even if you've secured a winning purchase price, there are still plenty of ways to accidentally overspend.

One of the most common ways to overpay? Choose the wrong mortgage. In fact, in today's higher-rate environment, this can be one of the riskiest mistakes a new buyer can make.

According to a recent survey, for example, nearly three-quarters of homebuyers leave money on the table by not bothering to shop around for the best rate.³ And research by LendingTree suggests that buyers in major metro areas lose an average of $63,151 over the life of their loan just by picking the first mortgage they're offered.⁴

Lesson Learned:  As long as you stick to what you can afford, buying a home can be a boon for your financial health. The longer you live in it, for example, the more your home is likely to appreciate in value and boost your long-term savings.

But to get the most value from your purchase, it's worth your time to compare financing options and shop around for the best deal. We also recommend getting a mortgage pre-approval before you start your home search so you know what's within reach. We can refer you to one of our trusted lending partners for help.

REGRET #2: Rushing Into a Home Purchase

In a competitive housing market, it's often necessary to act fast to secure a home. But don't let a need for speed tempt you into making an offer before you've thought through or fully vetted a new property.  

Rushing into a home purchase isn't just risky, it's also one of the most commonly cited sources of homebuyer regret. According to Anytime Estimate, for example, more than 1 in 4 homebuyers felt remorse over how quickly they sped through the home buying process.²

Getting swept away by your emotions can also lead to buyer's remorse. If you've found a home you love and are competing with other buyers, it can be tempting to overlook key details or bid more than you can afford. That's one reason it helps to have a skilled professional by your side to calmly guide you through the process and ensure you act with reason, rather than emotion.

Lesson Learned:  Buying a home is exciting. But if you don't keep your emotions in check or act too impulsively, you could make poor choices in the moment that are hard to undo later.

To avoid making last-minute decisions that could backfire, know what you want, what you need, and what you can afford before you start your home search. We can help you set priorities so you'll be able to move forward with confidence when the time is right.

REGRET #3: Miscalculating the Costs of Homeownership

Though real estate is a great long-term investment, it can be pricey in the short-term, often surprising homeowners who aren't prepared for it. According to some estimates, for example, annual maintenance could cost as much as 1% or more of your home's purchase price.⁵ Some buyers also forget to factor in additional ownership expenses, such as property taxes, insurance, and repairs.

Failing to think through the costs of homeownership is one of the most common sources of homebuyer regret. According to Anytime Estimate, for example, nearly half of the homebuyers who regret their purchase said they underestimated how much they would spend to live in it.²

However, some homes cost more to live in and maintain than others. So even if you're certain that you can afford the average cost of homeownership, that doesn't necessarily mean that every home in your price range will fit neatly into your budget. For example, very old homes with unique maintenance requirements could be extra pricey to keep up. Similarly, homes with high HOA or condo fees could also eat into your monthly budget.

Lesson Learned:  A home should help you build your wealth, not drain it. So it's important to factor in all the potential costs of living in a home—not just obvious ones like your mortgage payment and taxes. To ensure you don't get overextended, add up your estimated maintenance and repair costs, as well as any miscellaneous expenses that are unique to a particular home.

We can help you with these estimates—and, if needed, present you with some less-costly alternatives.

REGRET #4: Underestimating the Time Required To Maintain or Renovate a Home

One of the most joyful aspects of homeownership is getting to relax in a home that's all your own. But if a home is too high maintenance, then you may not have time to savor it.

Many homeowners love to spend their weekends puttering in their gardens or undertaking home improvement projects. But if that's not you, then you may not like living in a home with a big yard or with high-maintenance features, like a pool.

According to a survey by Hippo, for example, 47% of homeowners who feel some regret about their home purchase complain that too much maintenance and upkeep is required.⁶

Similarly, buyers who purchase fixer-uppers are often surprised by how much time it takes to rehab their new homes. Although buying a fixer-upper is a great way to save on the purchase price, you could come to resent it if it eats up all your free time.

Lesson Learned:  Renovation and maintenance projects are often time-consuming and stressful. So beware of committing to a property that requires too much of your attention if you don't have the time or patience for it. With that said, home improvement projects can also bring a lot of joy and satisfaction to owners who like rolling up their sleeves.

We can talk through the realities of homeownership with you and help you choose a property that will fit your personality and schedule.

REGRET #5: Ignoring or Skipping a Home Inspection

It's easy to get swept up in the excitement of buying a home. Sometimes, buyers will agree to skip a home inspection to sweeten their offer in a competitive market. They may also be tempted to pinch pennies since they're already facing a large outlay. However, if you skip out on a home inspection, you could come to regret it.

When you hire a home inspector, you get a professional, in-depth examination of the property's structures and systems before you buy it. It's a worthwhile investment that can save you money in the long run, either by warning you away from a bad purchase or by providing a list of deficiencies you can use to negotiate with the sellers.

But even the most thorough home inspection isn't going to be worth much if you don't take the time to carefully consider it. If at all possible, make sure you're on-site during the inspection so you can observe and ask questions. And don't forget to re-evaluate any repairs that the seller agrees to make to ensure they've been properly completed prior to closing.

Lesson Learned:  A home inspection can reduce your risk and save you money in the long run. But to maximize its effectiveness, you will need to be an active participant in the process.

We'd be happy to share a list of experienced and trustworthy home inspectors in our area. And when the inspection report is complete, we can help you decide if the purchase is worthwhile and negotiate any relevant seller concessions and repairs.

REGRET #6: Choosing a Home That Doesn't Fit

Homeownership is often a better investment if you're willing to stay put for at least five years.⁷ But if your newly purchased home isn't a good fit, then you may not want to stick around that long.

Many homeowner complaints come down to simple lifestyle issues: Although a mismatch may seem small at first, the problems can magnify if you make so many compromises that they interfere with your quality of life.

Or, sometimes homebuyers can fall in love with a beautiful home and forget about practicalities. For example, a stunning kitchen can't replace a needed bedroom or bathroom. And a sparkling pool may sit empty if the home requires a lengthy commute to your office.

Make sure you set some guardrails during your home purchase so you don't over-compromise or accidentally prioritize your wants over your needs.

Lesson Learned:  When you're dealing with limited inventory or a fixed budget, it may be necessary to sacrifice some items on your home wish list. But if you fail to secure your must-haves, you could come to regret your home choice.

We can help you avoid an ill-fitting home purchase by working with you to set (and stick to) priorities and parameters before you begin your search.

REGRET #7: Purchasing Without Professional Help

Another path to homebuyer regret? Foregoing the expert guidance and market insight that you can only get from a licensed real estate agent.

Buying a home without professional representation can be extremely risky. Therefore, it's no surprise that 86% of buyers enlist the help of an agent when purchasing a home. And the vast majority find their assistance to be invaluable: 89% say they would use their agent again or recommend them to others.⁸

Real estate is hyperlocal and extremely fluid—especially these days when the market is in constant flux. So it pays to have a knowledgeable expert by your side who can guide you through an often-complicated process.

We can help you avoid expensive mistakes that could lead to buyer's remorse, all while making your home purchase as seamless and stress-free as possible. And since the home seller typically pays our commission, there's no added expense for you!

Lesson Learned:  When you work with a real estate agent, you benefit from a wealth of expertise and on-the-ground insight that you can't get anywhere else. We'll help you steer clear of the missteps that so many homebuyers make, so you can focus on enjoying your new home instead of questioning your choices down the road.

The best part? Since the majority of home sellers pay us a commission at closing, in most cases, we offer our invaluable guidance and assistance at no additional cost to you!

BOTTOMLINE

No one wants to look back on their home purchase and realize they made a big mistake. We can help you avoid the pitfalls so you can buy with confidence. To learn more about how we work to ensure our clients' satisfaction, reach out today to schedule a free consultation.

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. LendingTree -
   https://www.lendingtree.com/home/mortgage/homebuying-process-survey/
2. Anytime Estimate -
   https://anytimeestimate.com/research/american-home-buyers-2022/
3. Zillow Home Loans - https://zillow.mediaroom.com/2022-11-18-Prospective-home-buyers-spend-about-as-much-time-researching-new-TVs-as-they-do-mortgage-lenders
4. LendingTree -
   https://www.lendingtree.com/home/mortgage/mortgage-shopping-study/
5. CNBC -
   https://www.cnbc.com/2022/05/01/survey-majority-of-homeowners-have-regrets.html
6. Hippo - https://www.hippo.com/blog/2022-hippo-housepower-report-how-homeowners-are-responding-essential-maintenance-during
7. com -
   https://www.realtor.com/advice/sell/how-soon-can-you-sell-a-house-after-buying/
8. National Association of Realtors - https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers#homebuyers

When it comes to listing their home, most home sellers want three things: 1) to make a lot of money, 2) to put in minimal time and effort, and 3) to sell quickly. But the reality is, selling a home is rarely that simple. And homeowners who try to do it themselves—or receive bad advice—can end up stuck (months later) with a property that hasn't sold.

If that's you, don't panic! We've outlined the top five reasons a home doesn't sell—and action steps you can take to overcome each of these issues.

Not sure why your property didn't sell? If you're not already working with an agent or your listing has expired or been withdrawn, give us a call! We'd be happy to offer a free, no-obligation assessment and create an action plan to get your home SOLD.

This marketing piece is not intended as a solicitation for properties currently in an exclusive agreement with another Broker.

1. BAD TIMING

If your home didn't sell after several months on the market, timing could've been a factor. Markets are driven by the law of supply and demand, and real estate is no exception.

When there are a lot of people who want to buy homes (demand) and a shortage of inventory (supply), it's considered a seller's market. During a seller's market, listings tend to get snapped up quickly. In a buyer's market, however, there are more homes for sale than active buyers. This can cause homes to sell for less money and to sit on the market for a longer period of time before receiving an offer.

What causes the shift between a seller's market and a buyer's market? Economic factors like interest rates, affordability, domestic growth, and the unemployment rate can all impact buyer demand. Over the past year, for example, higher mortgage rates have not only made it harder for some borrowers to qualify for a home loan, they have also sharply pushed up homebuyers' anticipated monthly payments.¹ So even if a buyer was interested in your home, they may have passed on it if they couldn't qualify for a mortgage at your asking price.

Seasonal factors like weather, holidays, and school schedules can also increase or dampen the activity and motivation of buyers. Additionally, unexpected events, such as a natural disaster or a stock market crash, can cause some buyers to put their purchasing plans on hold until conditions normalize.

Now What?

If timing does appear to be a factor, it may be advisable to delay relisting your property. Of course, that's not feasible (or desirable) for every seller.

In most cases, buyers can be motivated to act with a combination of improvements, incentives, and pricing. Where there's a will to sell, there's usually a way. Fortunately for sellers, people will always need a place to live, and there will be a percentage of the population that is motivated to buy quickly.

If you suspect timing played a role in your inability to sell, consult with a knowledgeable real estate agent. We're in the field every day and have access to the latest market data. We can estimate how long a home like yours should take to sell given current market conditions and help ensure that your asking price is competitive.

1. INEFFECTIVE MARKETING

Did your home get a steady stream of showings when it was on the market? If not, you may need to try a new promotional strategy.

Take a look at the listing description. Did it entice buyers to visit your property? A well-written description should be clear and compelling while highlighting your home's most desirable features. Additionally, it should have utilized best practices for search engine optimization (SEO) to ensure that it was found by buyers who were looking for homes online.

And how well did the listing photos showcase your property? Many buyers use photos of a home to decide whether or not to visit it in person. In fact, 85% of buyers who browse online find photos "very useful" in their home search.² Poor quality or a low quantity of listing photos could have kept potential buyers from stepping through your door.

Another factor to consider is whether your listing reached the right audience. This can be especially important if you have a unique or highly-customized home. The Multiple Listing Service is a great place to start, but some properties require a more robust marketing approach.

Now What?

If you suspect ineffective marketing, consider turning to a skilled professional with a proven approach. We employ a strategic Property Marketing Plan that uses the latest technologies to seed the marketplace, optimize for search engine placement, and position your home for the best possible impression right out of the gate.

For example, we know what buyers in this market want and can craft a persuasive description to pique their interest. And since good listing photos are so crucial, we work with the top local photographers to ensure each shot is staged to your home's advantage.

We also know how to get your listing in front of the right audience—one that will appreciate its unique features. By utilizing online and social marketing platforms to connect with consumers and offline channels to connect with local real estate agents, your property gets maximum exposure to your target market.

Want to learn more about our multi-step marketing strategy? Reach out for a copy of our complete Property Marketing Plan.

1. POOR IMPRESSION

If your property received a lot of foot traffic but no offers, you may need to examine the impression you made on buyers who visited your property.

Start with your home's structure and systems. Are there large cracks in the foundation? How about doors and windows that don't properly close? Are there water stains on the walls or ceiling that could signal a leak? These can be major "red flags" that scare away buyers.

Next, examine your curb appeal. Does the yard need mowing or do the hedges need trimming? Are there oil stains on the driveway? Any peeling paint or rotted siding? If your home's exterior looks neglected, buyers may assume the entire house has been poorly maintained.

Now move on to the interior of your home. Is it clean? Is there a noticeable odor? Have you taken the time to depersonalize and declutter each room? Buyers need to be able to picture their items in your home, but that's difficult to do amongst your family photos and personal collections. And oversized furniture and packed closets can make a space seem small and cramped.

Now What?

When we take on a new listing, we always walk through it with the homeowner and point out any repairs, updates, or decluttering that should be done to maximize its sales potential. We also share tips on how to prep the property before each showing.

In some cases, we will recommend that you utilize staging techniques to highlight your home's best features and help buyers envision themselves living in the space. Home staging is one of the hottest trends in real estate—because it works! According to the Real Estate Staging Association, professionally-staged homes sell, on average, 9 days faster and for $40,000 over list price.³ In addition, the National Association of Realtors suggests that staging can help push up your final sale price by as much as 20%.⁴

Some sellers choose to hire a professional home stager, while others opt to do it themselves, using guidance from their agent. We can help you determine the appropriate budget and effort required to get your home sold.

1. PRICE IS TOO HIGH

Many homeowners are reluctant to drop their listing price. But the reality is, buyers may not seriously consider your property if they think your home is overpriced.

Attitudes have changed since the Federal Reserve started hiking interest rates. Many of today's homebuyers are no longer willing or able to pay as high a price on a new home as they might have when borrowing costs were lower.⁵ If your home's original asking price was set using sales data from the market's peak, then you may need to rethink your pricing strategy.

Economic factors aren't the only reasons, though, why a home's asking price might not match its market value. Pricing a home can be tricky, regardless of the economic climate, because so many factors can impact how much buyers are willing to pay. For example, unique, highly customized, and luxury properties are particularly difficult to price because there aren't a lot of comparable homes with which to compare them.

Regardless, if your home sat on the market for months without an offer, then chances are good that your asking price needs to be reevaluated.

Now What?

If you aren't in a rush to sell your home, adjustments to timing or marketing may bring in a new pool of potential buyers. And repairs, upgrades, and staging can increase the perceived value of your home, which may be enough to bring a buyer to the table at your original list price.

However, if you need to sell quickly, or you've already exhausted those options, a price reduction may be necessary to get your home the attention it needs to sell.

We are local market experts and have access to the latest market data and comparable sales in your neighborhood. We can help you determine a realistic asking price for your home given today's market conditions. Just reach out for a free home value assessment!

1. YOU HIRED THE WRONG AGENT (OR WORSE, NO AGENT AT ALL)

If you suspect that your previous real estate agent didn't do enough—or used the wrong approach—to sell your home, you're not alone. Many sellers whose listings languish until they expire or are withdrawn feel this way.

While most agents have the best of intentions, not all of them have the skills, experience, instincts, or local market expertise to devise a winning sales strategy in this challenging market.

Or, perhaps you chose not to hire a listing agent at all and have been trying to sell your home yourself. This can be an equally frustrating endeavor.

Although selling your home independently can help cut some costs, it can also be extremely risky and may even lose you money in the long run. For example, research by the National Association of Realtors suggests that For Sale By Owner (or FSBO) homes tend to sell for less than homes represented by a professional. In 2021, for example, the average FSBO home sold for $105,000 less than the average home sold with the assistance of an agent.⁶

Now What?

If either of those scenarios sounds familiar, you need to ask yourself: "Would I still be interested in selling my home if I could get the right offer?"

If so, we should talk. We understand how frustrating it can be when you've put a lot of time, money, and effort into prepping your property for the market and it doesn't sell. We also empathize with how disruptive a delayed home sale can be to your life.

By now, don't you owe yourself more than the status quo when it comes to your real estate representation? Our multi-step Property Marketing Plan can help you sell your home for the most money possible, and in the process reconnect you with the excitement you originally felt upon first listing. It's time for a new agent, new marketing, new buyers, and most of all… new possibilities.

READY TO MAKE A MOVE?

Let's talk. We can help you figure out why your home didn't sell and how to revise your sales strategy and set your home up for success.

The housing market has experienced a shift and the waters may be choppier than usual for a while. But there's still plenty of opportunity in the current market: You just need a guide who knows where to look and how to find it.

This marketing piece is not intended as a solicitation for properties currently in an exclusive agreement with another Broker. The above references an opinion and is for informational purposes only. It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. New York Times -
   https://www.nytimes.com/2022/12/30/realestate/housing-market-prices-interest-rates.html
2. National Association of Realtors - https://store.realtor/2022-nar-profile-of-home-buyers-and-sellers-download/
3. Real Estate Staging Association - https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548
4. National Association of Realtors - https://www.nar.realtor/blogs/styled-staged-sold/why-staging-matters-even-in-a-sellers-market
5. Marketplace -
   https://www.marketplace.org/2023/01/26/housing-slump-may-have-bottomed-out/
6. National Association of Realtors -
   https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics

Over the past few years, many of us have spent extra time at home—and that means we appreciate the personal design touches that make a house cozy and comfortable more than ever. Some of us have adapted our dwellings in new ways, from creating functional home offices to upgrading the appliances we use most.

But while it's important to make your home your own, it's also smart to think about the long-term impact your renovations could have on its value. Choosing highly-personalized fixtures and finishes can make it harder for future homebuyers to envision themselves in the space. Even if you don't plan to sell your home soon, investing in popular design choices that are likely to stand the test of time will make things easier down the road.

And if you're in the market for a new home, it's wise to keep an eye out for features that might need to be updated soon so you can factor renovation costs into your budget.

We've rounded up six trends that we think will influence interior design in 2023, as well as ideas for how you might incorporate them in your own home. Remember, before taking action, it's always wise to consult with a real estate professional to understand how specific updates and upgrades will affect your property's value in your local market.

 1. Separate Kitchen, Dining and Living Areas

For years, home design has been dominated by open-concept floor plans, particularly for kitchen, dining, and living areas. However, as the pandemic forced families to work and study from home, many struggled to find the privacy and separation they needed. As a result, designers report that more families are choosing to bring back kitchen and dining room walls to break up the space and create quieter areas.

¹

That doesn't mean that we're returning to an era of dark and cramped spaces, however. Even as walls make a return, it's important to take care to retain a sense of flow and openness within the home and to prioritize natural light.

If you're buying or building a new home, consider how you will use the space and whether or not an open floor plan will suit your needs. If you already live in a home with an open floor plan and it isn't working for you, try rearranging furniture and strategically placing pieces like bookshelves, room dividers, or rugs to create distinct areas within the home and reduce noise.

2. Nature-Inspired Design

In the past few years, we've seen the "biophilia" trend explode, and there are no signs that it will be any less popular in 2023.² This trend is all about bringing the outside in by adding natural touches throughout your home.

This year, design experts predict that natural, sustainable materials like bamboo, cork, and live-edge wood will lend character without being overwhelming. Wooden kitchen cabinets and islands will become more common in 2023, with white oak and walnut among the most popular choices.^3,4 Wood will also appear in bathroom vanities and shelving and furniture throughout the home.

Colors inspired by nature (think mossy greens and desert tones) will also play into this trend and will blend seamlessly with wood tones. We're also seeing a return to natural stone countertop materials like quartzite, marble, dark leathered granite, and soapstone.^4,5

If you're planning to add new shelving or redo your kitchen, consider turning to these materials to embrace the biophilic look. Or, incorporate elements of the trend by choosing nature-inspired paint colors and adding to your houseplant collection.

3.Lighting as a Design Feature

Spending more time at home has shown us the importance of having the right lighting for specific tasks and times of the day. As a result, many homeowners are reconsidering the ways they light their homes and using light fixtures to change the usability and mood of their spaces.⁵

In particular, homeowners are rejecting bright, flat overhead lighting and replacing it with lamps and task-specific options. A layered approach to lighting—such as using a combination of under-cabinet, task, and ambient lighting in a kitchen—enables homeowners to tweak the level of light they're using based on the time of day and what they are doing.

In 2023, we expect to see more statement chandeliers, pendants, and wall sconces in a variety of shapes and materials.⁶ Thinking about switching up the lighting in your home? Start by adding floor or table lamps and swapping out fixtures before you invest in rewiring your space. Take note of what works and what doesn't and watch how the light in your home changes throughout the day. You can then use that information to make lighting decisions that require a bigger investment.

 4.More Vibrant Color Palettes

After the long dominance of whites and grays, more vibrant colors are coming back as a way to add character and dimension to homes.

This year, warm and earthy neutrals, jewel tones, and shades of red and pink are particularly popular.^7,8 If your style tends toward the subtle, consider options like light, calming greens, blues, and pastels.

Major paint brands have responded to these homeowner preferences with their newest releases. Benjamin Moore's 2023 color of the year, Raspberry Blush, is a lively shade of pinkish coral, while Sherwin William is embracing warm neutrals with Redend Point, a blushing beige.^9,10 Behr's choice of the year, Blank Canvas, is a creamy off-white that's a warmer version of the stark whites that have been trending over the past few years.¹¹

If you're planning to put your home on the market soon, it's better to play on the safer side and avoid extremely bold or bright color choices when it comes to paint or fixed finishes like tile and countertops. Instead, try incorporating pops of color through throw pillows, art, and accessories.

5.Curved Furniture and Architectural Accents

Goodbye, sharp corners. In 2023, arches and curves lend a sleek feel that draws on classical design and retro trends while remaining modern.^5,8 Rounded corners feel more relaxed and natural than sharp edges, lending more of a sense of flow and comfort to a home.

If you want to incorporate the trend into your new build or remodeling plans, curved kitchen islands and bars and arched alcoves are all good options—or you can take it a step further with arched windows and doorways. You can also carry this trend through to your light fixtures by incorporating a bubble chandelier or globe pendants.

It's easy to embrace this look without renovations, too. Look for a softer feel in furniture, with sofas, chairs, and tables that showcase curved edges. Or, break up your space with an arched folding screen and a circular rug.

6.Art Deco Revival

Art Deco, the architecture and design style that took hold in the 1920s and '30s, is enjoying a resurgence.¹²

As a style, Art Deco is marked by bold geometry, textures, and colors, as well as an emphasis on art. But the 2023 interpretation of this style is likely to be a bit less splashy than its historical roots. Designers predict that instead of incorporating all of the elements of the style, which could feel overwhelming, homeowners will pick bursts of color or bold accessories to bring some whimsy to their space.

Keep an eye out for vintage mirrors, lamps, or vases that bring a touch of Art Deco glam to your home, or embrace bold colors and fabrics like velvet. Choose pillows and throw blankets in bright colors and geometric patterns to nod to the look without diving in all the way.

DESIGNED TO SELL

Are you thinking about remodeling or making significant design changes to your home? Wondering how those changes might impact your future resale value?

Buyer preferences vary significantly based on your home's neighborhood and price range. We're happy to share our insights on the upgrades that will make it easier (or more difficult!) to sell your home. Give us a call for a free consultation!

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. US News and World Report - https://realestate.usnews.com/real-estate/slideshows/interior-design-trends-for-2023?slide=2
2. Architectural Digest -

https://www.architecturaldigest.com/story/design-trends-in-2023

3. Insider -

https://www.insider.com/popular-home-decor-trends-for-2023-according-to-experts-2022-

4. Houzz -

https://www.houzz.com/magazine/35-home-design-trends-on-the-rise-in-2023-stsetivw-vs~164032473

5. The Spruce -

https://www.thespruce.com/2023-design-trends-6743803

6. The Spruce -

https://www.thespruce.com/2023-lighting-trends-6891412

7. The Spruce -

https://www.thespruce.com/2023-color-trends-6751137

8. Good Housekeeping - https://www.goodhousekeeping.com/home/decorating-ideas/g42084756/interior-design-trends-2023/
9. Benjamin Moore -
   https://www.benjaminmoore.com/en-us/paint-colors/color/2008-30/raspberry-blush
10. Sherwin Williams -
    https://www.sherwin-williams.com/content/colorforecast/colormix-2023/color-of-the-year-2023
11. Behr -
    https://www.behr.com/consumer/inspiration/2023-coty/
12. The Spruce - https://www.thespruce.com/art-deco-trend-for-2023-7092174

Last year, one factor drove the real estate market more than any other: rising mortgage rates.

In March 2022, the Federal Reserve began a series of interest rate hikes in an effort to pump the brakes on inflation.¹ And while some market sectors have been slow to respond, the housing market has reacted accordingly.

Both demand and price appreciation have tapered, as the primary challenge for homebuyers has shifted from availability to affordability. And although this higher-mortgage rate environment has been a painful adjustment for many buyers and sellers, it should ultimately lead to a more stable and balanced real estate market.

So what can we expect in 2023? Will mortgage rates continue to climb? Could home prices come crashing down? While this is one of the more challenging real estate periods to forecast, here's what several industry experts predict will happen to the U.S. housing market in the coming year.

MORTGAGE RATES WILL FLUCTUATE LESS

In 2022, 30-year fixed mortgage rates surged from roughly 3% in January to around 7%. According to Rick Sharga of real estate data company ATTOM, "We've never seen rates double in so short a period."²

This year, economists forecast a less dramatic shift.

In an interview with Bankrate, Nadia Evangelou, senior economist for the National Association of Realtors, shares her vision of three possible mortgage rate scenarios:³

1. Inflation continues to surge, forcing the Fed to repeatedly raise interest rates. In that scenario, she predicts that rates could reach as high as 8.5%.
2. Inflation decelerates and mortgage rates follow suit, averaging 7 to 7.5% for the year.
3. Rising interest rates trigger a recession, which could ultimately lead mortgage rates to drop closer to 5% by the end of the year.

Realtor.com forecasts something similar to scenario #2 above: "Mortgage rates will average 7.4% in 2023, trickling down to 7.1% by year's end."⁴ The Mortgage Bankers Association, however, projects something closer to Evangelou's scenario #3, with the 30-year fixed rate declining steadily throughout the year, averaging 6.2% in Q1 and 5.2% by Q4.⁵

Economists at Fannie Mae fall somewhere in the middle. In a recent press release, they predicted that the U.S. economy will experience a "modest recession" this year.⁶ But in their December Housing Forecast, they project that 30-year fixed mortgage rates will only fall by half a point from an average of 6.5% in Q1 to 6.0% in Q4.⁷

"From our perspective, the good news is that demographics remain favorable for housing, so the sector appears well-positioned to help lead the economy out of what we expect will be a brief recession," said Fannie Mae Chief Economist Doug Duncan.⁶

What does it mean for you?  Even the experts can't say for certain where mortgage rates are headed. Instead of trying to "time the market," focus instead on buying or selling a home when the time is right for you. There are a variety of mortgage options available that can make a home purchase more affordable, including adjustable rates, points, and buydowns—and keep in mind you can always refinance down the road. We'd be happy to refer you to a trusted mortgage professional who can outline your best options.

SALES VOLUME WILL FALL AND INVENTORY WILL RISE

It looks like the home-buying frenzy we experienced in recent years is behind us. While the desire to own a home remains strong, higher mortgage rates have made it unaffordable for a large segment of would-be buyers.

Many economists expect the number of home sales to continue to decline this year, leading to an increase in listing inventory and days-on-market, or the time it takes to sell a home. But, there is a wide range when it comes to specifics.

Economists at Fannie Mae forecast that total home sales will fall by around 20% this year before rising again by nearly 15% in 2024.⁷ National Association of Realtors Chief Economist Lawrence Yun projects a less extreme dip of 7% in 2023 with a rebound of 10% next year.⁸

Realtor.com Chief Economist Danielle Hale foresees something in between. "The deceleration in home sales is likely to continue as high home prices and mortgage rates limit the pool of eligible home buyers. We anticipate that existing home sales will decline another 14.1% in 2023." She expects this drop in sales to lead to a nearly 23% increase in inventory levels this year, offering more choices for buyers who have struggled to find a home in the past.⁹

However, given the severe lack of housing supply, even with a double-digit increase, the market is expected to remain relatively tight and below pre-pandemic levels. Hale points out: "It's important to keep historical context in mind. The level of inventory in 2023 is expected to fall roughly 15% short of the 2019 average."⁹

What does it mean for you?  If you've been frustrated by a lack of inventory in the past, 2023 may bring new opportunities for you to find the perfect home. And today's buyers have more negotiating power than they've had in years. Contact us to find out about current and future listings that meet your criteria.

If you're hoping to sell, you may want to act fast; rising inventory levels will mean increased competition. We can help you chart the best course to maximize your profits, starting with a professional assessment of your home's current market value. Reach out to schedule a free consultation.

HOME PRICES WILL REMAIN RELATIVELY STABLE

While some economists expect home prices to fall this year, many expect them to remain fairly stable. "For most parts of the country, home prices are holding steady since available inventory is extremely low," said Yun at a November conference.⁸

Nationally, Yun expects the average median home price to tick up by 1% in 2023, with some markets experiencing greater appreciation and others experiencing declines.⁸ Economists at Fannie Mae offer a similar projection, forecasting a slight decrease in their Home Price Index of about 1.5%, year-over-year.⁷

Other experts foresee a larger fluctuation. Hale expects U.S. home prices to rise by 5.4% this year, while Morgan Stanley is forecasting a 7% drop from the peak in June 2022.^9,10

Still, many economists agree that a housing market crash like the one we experienced in 2008 is highly unlikely. The factors that caused home prices to plunge during the Great Recession—specifically lax lending standards and a surplus of inventory—aren't prevalent in our current market.¹⁰ Therefore, home values are expected to remain comparatively stable.

What does it mean for you?  It can feel scary to buy a home when there's uncertainty in the market. However, real estate is a long-term investment that has been shown to appreciate over time. And keep in mind that the best bargains are often found in a slower market, like the one we're experiencing right now. Contact us to discuss your goals and budget. We can help you make an informed decision about the right time to buy.

And if you're planning to sell this year, you'll want to chart your path carefully to maximize your profits. Contact us for recommendations and to find out what your home could sell for in today's market.

RENT PRICES WILL CONTINUE TO CLIMB

Affordability challenges for would-be buyers, inflationary pressures, and an overall lack of housing could continue to drive "above-average" rent price increases in much of the country.¹¹ The Federal Reserve Bank of Dallas expects year-over-year rental price growth to tick up to 8.4% in May before moderating later in the year.¹²

According to Hale, "U.S. renters will continue to face challenges from limited supply and excess demand in the coming year that will keep upward pressure on rent growth. At a national level, we forecast rent growth of 6.3% in the next 12 months, somewhat ahead of home price growth and historical rent trends."⁹

However, there are signs that the surge in rent prices could be tapering. According to Jay Parsons, head of economics for rental housing software company RealPage, there's some evidence of a slowdown in demand. He predicts that market-rate rents will rise just 3.3% this year. Still, analysts agree that a return to lower pre-pandemic rental prices is unlikely.¹⁰

What does it mean for you?  Rent prices are expected to keep climbing. But you can lock in a set mortgage payment and build long-term wealth by putting that money toward a home purchase instead. Reach out for a free consultation to discuss your options.

And if you've ever thought about purchasing a rental property, now may be a perfect time. Call today to get your investment property search started.

WE'RE HERE TO GUIDE YOU

While national real estate forecasts can provide a "big picture" outlook, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the issues most likely to impact sales and drive home values in your particular neighborhood.

If you're considering buying or selling a home in 2023, contact us now to schedule a free consultation. We'll work with you to develop an action plan to meet your real estate goals this year.

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. Forbes -
   https://www.forbes.com/advisor/investing/fed-funds-rate-history/
2. Bankrate -
   https://www.bankrate.com/mortgages/will-mortgage-rates-go-up-in-december-2022/
3. Bankrate -
   https://www.bankrate.com/real-estate/housing-market-predictions-2023/
4. com -
   https://www.realtor.com/news/trends/2023-the-year-of-the-homebuyer-our-bold-predictions-on-home-prices-mortgage-rates-and-more/
5. Mortgage Bankers Association -
   https://www.mba.org/docs/default-source/research-and-forecasts/forecasts/mortgage-finance-forecast-dec-2022.pdf?sfvrsn=b584bf7_1
6. Fannie Mae -
   https://www.fanniemae.com/newsroom/fannie-mae-news/economy-still-expected-enter-and-exit-modest-recession-2023
7. Fannie Mae -
   https://www.fanniemae.com/media/45801/display
8. National Association of Realtors -
   https://www.nar.realtor/newsroom/nars-lawrence-yun-predicts-us-home-prices-wont-experience-major-decline-could-possibly-rise-slightly
9. com -
   https://www.realtor.com/research/2023-national-housing-forecast/
10. The New York Times -
    https://www.nytimes.com/2022/11/04/realestate/housing-market-interest-rates.html
11. CNBC -
    https://www.cnbc.com/2022/09/28/how-much-higher-rent-will-go-in-2023-according-to-experts.html
12. Federal Reserve Bank of Dallas -
    https://www.dallasfed.org/research/economics/2022/0816

Over the past few years, a real estate buying frenzy bid up home prices to eye-popping amounts. However, as mortgage rates have risen, buyer demand has cooled. ¹ Consequently, home sellers who enter the market today may need to reset their expectations.

The reality is, it's no longer enough to stick a "for sale" sign in the yard and wait for buyers to bang down the door. If you want to net the most money possible for your property in today's market, you'll need an effective game plan and a skilled team of professionals to implement it.

Fortunately, we've developed a listing strategy that combines our proven approach to preparation, pricing, and promotion—all designed to help you get top dollar for your home. But you will play an important role in the selling process, as well.

Here are some crucial steps you can take to set yourself up for success as a home seller in this market:

1. Make Strategic Repairs and Improvements

When you sell something, it's important to consider what your customer wants to buy. And according to the National Association of Realtors, only 6% of today's buyers report that they are looking for a DIY fixer-upper.² The vast majority want a move-in-ready home, which means that any outstanding repairs or dated features can be a major turn-off.

Before your home goes on the market, we'll conduct a thorough walk-through to identify any problems that could prevent it from selling. In some cases, we may recommend a professional pre-listing inspection. Finding and addressing issues like leaks, rot, and foundation problems up front can pay off in the final sale price. Plus, it prevents sales from falling through because of a red flag on the home inspection, a scenario no seller wants to face.

Beyond repairs, we'll also help you identify the simple upgrades that offer the highest return on your investment. For example, new paint can give your home a fresh look at a reasonable cost. However, it's important to choose the right colors. One study found that painting your bathroom light blue could lead to a 1.6% increase in the offer price!³ Similarly, minor landscaping improvements can pay off in a major way. A healthy lawn offers an estimated 256% return on investment.⁴

1. Declutter and Depersonalize

When buyers look at a home for sale, they're trying to envision themselves living there. That's hard to do if it's chock-full of the current owner's family photos, children's artwork, and souvenir collections. Plus, cluttered homes look smaller, and older items can make them feel dated.

Decluttering before you put your home up for sale will help you in the long run—after all, you'll need to move all your things to your new home eventually. Now is the time to shred, digitize, or organize old documents, donate old clothes, or move bulky furniture into storage. At a minimum, you'll want to pack away excess items neatly before potential buyers view the home. Remove personal photos and other trinkets to create a blank slate that viewers can imagine decorating with their own prized possessions.

If you feel overwhelmed by this process, we'd be happy to make recommendations or refer you to a local service provider who can help.

1. Stage Your Home for Success

Just as you take care to dress professionally for a job interview, you should always ensure your home looks its best for potential buyers. Home shoppers today are used to scrolling through Instagram and Pinterest, and they want to see the same wow factor when touring a home.

The process of making your home look its best and appeal to potential buyers is called staging, and it can be a game changer. According to the International Association of Home Staging Professionals, an average priced staged home sells 5 to 11 times faster than its unstaged counterpart. Even better, the majority of staged homes sell for 4% to 20% over list price!⁵

Some sellers hire a professional stager, who may bring in furniture and decor to increase the home's appeal. Others choose to stage their homes themselves. We can help advise you on which route to choose and how much to invest in the process.

It's also important to consider what buyers in your neighborhood are likely to be looking for in a home. We can help guide your staging choices with our local market insights. For example, in neighborhoods where a large share of residents work from home, it may be effective to stage one room as an office space so potential buyers can envision their day-to-day routine.

1. Prep for Each Showing

Most of us don't live picture-perfect lives, and our homes reflect that (sometimes messy) reality. But when your home is on the market, it's important to ensure that it is always ready for viewers, even on short notice. A missed showing is a missed opportunity to sell your home!

Before your home hits the market, it may be worth hiring professional cleaners to get in all the nooks and crannies. After, try your best to keep things spic and span. Just a few minutes a day wiping down counters, sweeping the floors, and vacuuming can make a big difference.

It's also worth noting that most buyers will open cabinets, drawers, and closets—so try to make sure everything is as neat and organized as possible. Keep toiletries and small appliances off countertops, and secure valuables and sensitive documents in a safe or off-site.

Want help finding a cleaning service to make your home shine for buyers? Reach out for a referral!

1. Price Your Home Correctly From the Start

In the past few years, you may have seen homes in your neighborhood sell for shocking amounts and wondered if you could get a similar price for your property. The temptation to list your home on the high side can be strong, but it's best to be realistic from the start. Even in a hot market, some homes will sit for months. And the longer a property is listed, the more buyers worry that something is wrong with it.⁶

Of course, you also don't want to set your price too low and lose out on potential profit. That's why it's essential to work with real estate agents (like us!) who know the ins and outs of our local market and what buyers are willing to pay today. In a quickly-evolving market, comparable sales from a few months ago can lag the current market reality.

Fortunately, if you've owned your home for several years, chances are good that it's worth much more today than you paid for it. That means you stand to walk away with a handsome profit. In fact, recent reports show that homeowner equity is at an all-time high.⁷

1. Avoid Acting on Emotion

The past few years of over-asking-price offers with few contingencies have set certain expectations for many sellers. It's only natural to feel hurt or even offended if an offer comes in lower than what you think your home is worth.

However, it's important to keep in mind that those market conditions were unprecedented, and we are now returning to a more typical market. Home sellers who act rationally, rather than emotionally, are going to get the best results.

Remember: You can always counter a low offer. The same goes for repair requests and contingencies—everything is negotiable. However, it's important to accept that the market is adjusting and flexibility is key. Keep your expectations reasonable, and remain open-minded. And you can rest assured knowing that we'll be by your side every step of the way to help you navigate the process and negotiate a great deal.

1. Work With a Local Market Expert

The economics impacting mortgage rates may be national, but real estate markets are hyperlocal. That's why working with a professional agent who understands your neighborhood's dynamics is essential. Through our experience, we've gathered insights that can help us position your home for success in this market. Plus, we have the resources to connect with qualified buyers searching for a home like yours.

Working with a knowledgeable agent is also the secret to getting as much money as possible for your home. We have access to extensive data on recent sales in your neighborhood, which we will use to price and promote your property. That's one reason why homes sold by agents draw much higher prices than those sold by their owners alone. While for-sale-by-owner homes went for a median price of $260,000 in 2020, the median for homes sold by agents was $318,000.⁸ That's a difference of $58,000—and money you don't want to leave on the table.

YOUR AGENT AND ADVOCATE

Selling a home in a fast-changing market can be stressful. You're likely to hear conflicting advice and opinions from people in your life, and decisions like what color to paint your front door or how much to list your home for can be overwhelming.

That's where we come in. The market may be adjusting, but it's still highly advantageous for sellers—and we're here to help you make the most of it. We're listing experts in our area, and we know what steps you need to take for a smooth, profitable transaction.

If you're considering buying or selling a home, we invite you to reach out to schedule a free consultation. We're happy to talk through your specific situation and goals and help you identify your next steps.

The above references an opinion and is for informational purposes only.  It is not intended to be financial, legal, or tax advice. Consult the appropriate professionals for advice regarding your individual needs.

Sources:

1. Yahoo! Finance -

https://finance.yahoo.com/news/bidding-war-rate-drops-lowest-120000537.html

2. National Association of Realtors -

https://cdn.nar.realtor/sites/default/files/documents/2022-home-buyers-and-sellers-generational-trends-03-23-2022.pdf

3. Zillow -

https://www.zillowgroup.com/news/paint-colors-that-could-lead-to-higher-offers/

4. Angi -

https://www.angi.com/articles/smart-landscaping-tips-can-increase-home-value.htm

5. International Association of Home Staging Professionals -

https://pages.iahsp.com/home-staging-statistics/

6. Washington Post -

https://www.washingtonpost.com/business/2019/07/22/just-because-its-sellers-market-doesnt-mean-you-should-overprice-your-home/

7. com -
   https://www.realtor.com/research/changes-in-value-of-household-real-estate-q2-2022/
8. National Association of Realtors - https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers#purchased

The winter season brings shorter days, longer nights, and chilly temperatures that require extra effort to stay warm indoors and save on energy bills. With cold weather just around the corner, our real estate agents have five great tips that will make it easier for you to stay warm and cozy at home this winter.

1. Light Up the Fireplace
   Ohio winters can be harsh, with temperatures that drop well below freezing. If your home has a fireplace, take advantage of the extra warmth and cozy atmosphere you get by building a fire. While most newer homes have built-in fireplaces, some older Akron homes for sale have wood stoves that still put out a lot of heat. Either way, throwing on some logs and starting a fire is a great way to get rid of that winter chill. If you have an outdoor fireplace or a fire pit, you can even enjoy roasting marshmallows on a cold night.

2. Throw Down Some Rugs
   You may have beautiful hardwood, stone, or ceramic tile floors, but they won't keep your feet and tootsies warm during cold winters. Nothing is worse than stepping onto a freezing hard floor first thing in the morning or late at night. Fuzzy slippers and socks will help keep your feet warm, but throwing down some area rugs will create insulation and warmer rooms in your home. Investing in a few wool rugs or runners, shaggy, thick rugs, and fuzzy bathroom mats will keep you from jumping back into bed on a chilly morning.

3. Close the Curtains
   If your home has shutters, shades, or blinds, you're likely feeling a little colder during winter weather. These sleek window treatments are popular in many North Canton homes for sale, but they don't provide much insulation against the cold air that sneaks through your windows. To warm up your room, consider adding floor-to-ceiling curtains that you can close over your shutters, shades, and blinds. Choose a heavier fabric and an insulated lining that will keep the cold air outside and the warm air inside during freezing winter temperatures.

4. Pile on the Throw Blankets
   When planning and decorating for winter, throw blankets and quilts for your home are a must. Whether your design style reflects a traditional, farmhouse, mid-century modern, or contemporary interior, you can find beautiful and affordable throw blankets and quilts that will keep your thermostat lower and keep you warmer on chilly days and nights.

• • Sofas and Chairs – Draping warm blankets or throws over your sofas and chairs will create cozy, inviting spaces for guests, family conversations, watching movies and TV, reading books, and enjoying a cup of coffee or hot chocolate.

  • Bedding – When winter arrives, swap out your bedding with warmer sheets, throws, blankets or quilts, and duvet covers. Changing to fleece or cotton flannel sheets, heavier woven throws and blankets, and a soft wool or velvet duvet cover will keep you much warmer while you sleep. If your bedroom stays on the chilly side, invest in an electric blanket with automatic controls and safety features.

5. Soften Your Lighting
   During winter months, you can create a warm, relaxing atmosphere at home by simply softening your lighting. You don't need an electrician—just replace your light bulbs with soft white or warm white LED bulbs, add new linen or paper lampshades with metallic linings, hang sconces that direct light against the wall, and light some candles. All of these lighting tips create a softer, diffused light with a cozy glow.

Are you thinking about moving to Stark or Summit County? Contact us about available homes that may be the perfect fit for your lifestyle.

The first utility bill in a new home can mean an unpleasant surprise for the unsuspecting homeowner. Not only is the cost higher in a house than in an apartment, but energy costs are soaring across the globe. Fortunately, you can take measures to lower your utility bills, and our real estate agents would like to share them with you.

1. Seal it up!
   You would be amazed at how much cold air seeps in through tiny openings around the house. Start first with weather stripping around doors and windows. This low-cost process will save you a lot of money over time. But don't stop there. Check for gaps anywhere two materials meet, such as where siding meets the foundation, a chimney, or the roof. Pick up exterior-grade caulking from your favorite home improvement store and apply it wherever such gaps appear. Install foam gaskets behind light switches. 
   
   
2. Install a smart thermostat
   You may find that many of our North Canton homes for sale are already equipped with this modern convenience, but if not, you would be doing yourself a big favor by installing one. You can pre-program your energy consumption based on your schedule. That can save you as much as 35% on your bill. But you can do far more than that. You can communicate with your thermostat via an app on your phone to keep utility use to a minimum when you are out of town, adjusting the house to an appropriate temperature just before you return. 
   
   
3. Lower the temperature on your water heater
   Most manufacturers set the thermostat to about 160 degrees, but you don't need it to be more than 120. If your water heater is an older model, you may need to flush the mineral buildup from the tank. It's a simple process that can save you a lot. Turn off the water and power. Let the unit cool. Attach a hose to the bottom of the unit leading water to the outside. Open the drain valve and turn the water back on to flush. When the water runs clear, reverse the process. Be sure to close the drain valve securely before removing the hose and turning the water back on. 
   
   
4. Maintain your HVAC unit
   Make sure the area surrounding your unit is clean and free from debris. Cut any branches or plant growth that could encroach upon the unit. Change your air filters every three months. After turning off the power, remove the unit's cover and vacuum out dust, cleaning coils and fins thoroughly. Schedule professional maintenance annually, and if you experience a particularly difficult season weather-wise, consider a check-up between seasons. Replacing an aging HVAC unit is expensive, but this may be an important issue to address if your utility bills are excessive. 
   
   
5. Choose the best energy plan for you
   Akron homes for sale offer the buyer a choice between energy suppliers. Talk to your agent to get a list of options. Then call each to discuss their energy plans before you make a selection. Each supplier may offer multiple plans. Pick the one best suited to your lifestyle to obtain the lowest price available.
   
   
6. Don't forget the tips your parents taught you
   Dress appropriately for the temperature and keep doors and windows closed. Turn off the light when you leave the room and unplug energy thieves when you turn them off. Some electronics are actually on stand-by for quick start-up. 

When you're ready to tour some of the most beautiful houses in Ohio, contact us. We will be happy to help you find the perfect new home for you. 

The holiday season is just around the corner, which means our real estate agents are already dreaming of delicious holiday pies. Whether it's a pumpkin and pecan pie for Thanksgiving or fruit and custard pies for Christmas, a good pie is a staple of any great holiday meal.

We take pies very seriously around Canton and North Canton, which is why you can find amazing pies at most area bakeries and diners. If you're looking for a place to grab a holiday pie this year, don't wait until it's too late. Check out one of these fantastic local shops:

• Johnnie's Bakery Of Canton - 6652 Wise Ave. NW, North Canton, OH 44720
  This North Canton staple is always a go-to destination for holiday pies. Johnnie's Bakery Of Canton serves some of the best local baked goods (including amazing donuts), so it's no surprise that many residents turn to this shop for pumpkin pies, pecan pies, cherry pies, and more. The shop is open 6 am to 2 pm Tuesday through Saturday Best of all, it's conveniently located just down the road from these North Canton homes for sale. 
  
  
• Ferraro's Family Restaurant - 3822 Navarre Rd. SW, Canton, OH 44706
  You'll notice some tasty pies on display as soon as you walk into Ferraro's Family Restaurant. This old-school restaurant serves home-cooked meals and a wide variety of pies, including pumpkin, coconut cream, cherry, and more. The restaurant receives many holiday orders, so get yours in early. After picking up your pie, swing by one of these nearby Canton homes for sale.
  
  
• Variety's Restaurant - 1286 S. Main St. #4271, North Canton, OH 44720
  Another great North Canton restaurant that serves freshly baked pies for dessert is Variety's Restaurant. If you're looking for great food, great service, and delicious pies, this is your place. Their pies are available for holiday orders, and the Lemon Meringue Pie is one of the best sellers! The restaurant is open daily from 7 am to 9 pm.
  
  
• Norcia Bakery - Belden Ave. NE, Canton, OH 44704
  Norcia Bakery is a great place for pies. This bake shop serves cookies, cakes, pastries, and pies, all made fresh daily, and everything is delicious. If you're out of town, they offer nationwide ordering online. Live in Stark County? They offer holiday pie home delivery, so you don't even have to leave the house. 
  
  
• Studio Bakery - 4339 Dressler Rd. NW, Canton, OH 44718
  This awesome local bake shop makes one of the best cherry pies in town, so you'll definitely want it on your table this holiday season. Additionally, Studio Bakery bakes (and designs) some of the tastiest cakes, cupcakes, cookies, and more. Is there a certain pie you're craving? Call in and place your order over the phone. The staff is always friendly and helpful!
  
  
• Baker's Cafe - 1927 Stark Ave. SW, Canton, OH 44706
  One of the best things about having dinner at Baker's Cafe is finishing your meal with a delicious slice of freshly-baked homemade pie. These pies are made fresh every morning, and there are always different flavors to choose from (though the Pecan is one of the best). Stop in or call to place your holiday pie order.

Pies are an important part of every holiday meal, so head to your favorite area bakery or diner to place your order. For more information on local businesses, contact us today.

While it's true that the housing market has cooled somewhat, there is still time to take advantage of the increased value of your home if you plan to sell. But before you set an asking price, our real estate agents want to help you maximize your profits by considering the hidden costs associated with the sale. Here are a few expenses they consider to be some of the most critical:

• Identify problems that could derail the sale.
  A pre-inspection will help you make any necessary repairs before the house is on the market. You can expect to spend a few hundred dollars for a professional inspection, but you won't need to worry about surprises that could delay or prevent closing the sale.
  
  
• Make necessary repairs.
  Lenders will only approve a loan if the property is a sound investment, which means they expect it to be in good repair. You should make most repairs before you attempt to sell the home. Sometimes the cost can be split between the buyer and seller. They will negotiate a pre-determined amount, and either can back out of the deal if cost estimates exceed that amount. 
  
  
• Verify property lines.
  Newer residential developments generally have definitive property lines, but many North Canton homes for sale are more than 40 years old, and boundaries may be questionable. You may need to pay for the property to be surveyed to assure the lender and buyer that the property lines are accurate. This service can cost anywhere from about $250 to $1,000, depending upon the size and shape of the parcel. 
  
  
• Consider possible concessions.
  Potential buyers frequently request that certain items be included in the sales price. Besides appliances, some Akron homes for sale have furnishings or unique items that the buyer feels add to their love of the house. The buyer may ask that the seller pay a portion of the closing costs. These are all open to negotiation, and it will be your option to agree or not. 
  
  
• Estimate closing costs.
  Several fees will be split between the buyer and seller at closing. These include loan processing fees, title insurance costs, property tax, and recording fees. The seller's portion will be deducted from the proceeds when the sale closes. 
  
  
• Cost of vacancy
  If the house is unoccupied while on the market, you must maintain the property in good order, from mowing the lawn to post-weather cleanup. You may also benefit by purchasing a special insurance policy for a vacant house that will protect you from the cost of any vandalism while the house is empty. 
  
  
• Pay off the existing mortgage.
  Your lender will work with your real estate agent and the closing company to provide an accurate pay-off amount so that when you receive the sale's proceeds, your mortgage balance will already be deducted. Your agent will provide you with an estimate of the total amount you will receive. 

As you can see, your real estate agent will play an important role in helping you manage the sale and guiding you through the process. Contact us today to find an experienced professional that you can trust.

Mortgage rates have been on a roller coaster ride this year, rising and falling amid inflationary pressures and economic uncertainty. And even the experts are divided when it comes to predicting where rates are headed next.¹

This climate has been unsettling for some homebuyers and sellers. However, with proper planning, you can work toward qualifying for the best mortgage rates available today – and open up the possibility of refinancing at a lower rate in the future.

How does a lower mortgage rate save you money? According to Trading Economics, the average new mortgage size in the United States is currently around $410,000.² Let's compare a 5.0% versus a 6.0% fixed-interest rate on that amount over a 30-year term.

With a 5% rate, your monthly payments would be about $2,201. At 6%, those payments would jump to $2,458, or around $257 more. That adds up to a difference of almost $92,600 over the lifetime of the loan. In other words, shaving off just one percentage point on your mortgage could put nearly $100K in your pocket over time.

So, how can you improve your chances of securing a low mortgage rate? Try these eight strategies:

1. Raise your credit score.

Borrowers with higher credit scores are viewed as "less risky" to lenders, so they are offered lower interest rates. A good credit score typically starts at 690 and can move up into the 800s.³ If you don't know your score, check with your bank or credit card company to see if they offer free access. If not, there are a plethora of both free and paid credit monitoring services you can utilize.

If your credit score is low, you can take steps to improve it, including:⁴

• Correct any errors on your credit reports, which can bring down your score. You can access reports for free by visiting AnnualCreditReport.com.
• Pay down revolving debt. This includes credit card balances and home equity lines of credit.
• Avoid closing old credit card accounts in good standing. It could lower your score by shortening your credit history and shrinking your total available credit.
• Make all future payments on time. Payment history is a primary factor in determining your credit score, so make it a priority.
• Limit your credit applications to avoid having your score dinged by too many inquiries. If you're shopping around for a car loan or mortgage, minimize the impact by limiting your applications to a short period, usually 14 to 45 days.⁵

Over time, you should start to see your credit score climb — which will help you qualify for a lower mortgage rate.

2. Keep steady employment.

If you are preparing to purchase a home, it might not be the best time to make a major career change. Unfortunately, frequent job moves or gaps in your résumé could hurt your borrower eligibility.

When you apply for a mortgage, lenders will typically review your employment and income over the past 24 months.⁵ If you've earned a steady paycheck, you could qualify for a better interest rate. A stable employment history gives lenders more confidence in your ability to repay the loan.

That doesn't mean a job change will automatically disqualify you from purchasing a home. But certain moves, like switching from W-2 to 1099 (independent contractor) income, could throw a wrench in your home buying plans.⁶

3. Lower your debt-to-income ratios.

Even with a high credit score and a great job, lenders will be concerned if your debt payments are consuming too much of your income. That's where your debt-to-income (DTI) ratios will come into play.

There are two types of DTI ratios:⁷

1. Front-end ratio — What percentage of your gross monthly income will go towards covering housing expenses (mortgage, taxes, insurance, and dues or association fees)?
2. Back-end ratio — What percentage of your gross monthly income will go towards covering ALL debt obligations (housing expenses, credit cards, student loans, and other debt)?

What's considered a good DTI ratio? For better rates, lenders typically want to see a front-end DTI ratio that's no higher than 28% and a back-end ratio that's 36% or less.⁷

If your DTI ratios are higher, you can take steps to lower them, like purchasing a less expensive home or increasing your down payment. Your back-end ratio can also be decreased by paying down your existing debt. A bump in your monthly income will also bring down your DTI ratios.

4. Increase your down payment.

Minimum down payment requirements vary by loan type. But, in some cases, you can qualify for a lower mortgage rate if you make a larger down payment.⁸

Why do lenders care about your down payment size? Because borrowers with significant equity in their homes are less likely to default on their mortgages. That's why conventional lenders often require borrowers to purchase private mortgage insurance (PMI) if they put down less than 20%.

A larger down payment will also lower your overall borrowing costs and decrease your monthly mortgage payment since you'll be taking out a smaller loan. Just be sure to keep enough cash on hand to cover closing costs, moving expenses, and any furniture or other items you'll need to get settled into your new space.

5. Compare loan types.

All mortgages are not created equal. The loan type you choose could save (or cost) you money depending on your qualifications and circumstances.

For example, here are several common loan types available in the U.S. today:⁹

• Conventional — These offer lower mortgage rates but have more stringent credit and down payment requirements than some other types.
• FHA — Backed by the government, these loans are easier to qualify for but often charge a higher interest rate.
• Specialty — Certain specialty loans, like VA or USDA loans, might be available if you meet specific criteria.
• Jumbo — Mortgages that exceed the local conforming loan limit are subject to stricter requirements and may have higher interest rates and fees.¹⁰

When considering loan type, you'll also want to weigh the pros and cons of a fixed-rate versus variable-rate mortgage:¹¹

• Fixed rate — With a fixed-rate mortgage, you're guaranteed to keep the same interest rate for the entire life of the loan. Traditionally, these have been the most popular type of mortgage in the U.S. because they offer stability and predictability.
• Adjustable rate — Adjustable-rate mortgages, or ARMs, have a lower introductory interest rate than fixed-rate mortgages, but the rate can rise after a set period of time — typically 3 to 10 years.

According to the Mortgage Bankers Association, 10% of American homebuyers are now selecting ARMs, up from just 4% at the start of this year.¹² An ARM might be a good option if you plan to sell your home before the rate resets. However, life is unpredictable, so it's important to weigh the benefits and risks involved.

6. Shorten your mortgage term.

A mortgage term is the length of time your mortgage agreement is in effect. The terms are typically 15, 20, or 30 years.¹³ Although the majority of homebuyers choose 30-year terms, if your goal is to minimize the amount you pay in interest, you should crunch the numbers on a 15-year or 20-year mortgage.

With shorter loan terms, the risk of default is less, so lenders typically offer lower interest rates.¹³ However, it's important to note that even though you'll pay less interest, your mortgage payment will be higher each month, since you'll be making fewer total payments. So before you agree to a shorter term, make sure you have enough room in your budget to comfortably afford the larger payment.

7. Get quotes from multiple lenders.

When shopping for a mortgage, be sure to solicit quotes from several different lenders and lender types to compare the interest rates and fees. Depending upon your situation, you could find that one institution offers a better deal for the type of loan and term length you want.

Some borrowers choose to work with a mortgage broker. Like an insurance broker, they can help you gather quotes and find the best rate. However, if you use a broker, make sure you understand how they are compensated and contact more than one so you can compare their recommendations and fees.¹⁴

Don't forget that we can be a valuable resource in finding a lender, especially if you are new to the home buying process. After a consultation, we can discuss your financing needs and connect you with loan officers or brokers best suited for your situation.

8. Consider mortgage points.

Even if you score a great interest rate on your mortgage, you can lower it even further by paying for points. When you buy mortgage points — also known as discount points — you essentially pay your lender an upfront fee in exchange for a lower interest rate. The cost to purchase a point is 1% of your mortgage amount. For each point you buy, your mortgage rate will decrease by a set amount, typically 0.25%.¹⁵ You'll need upfront cash to pay for the points, but you can more than make up for the cost in interest savings over time.

However, it only makes sense to buy mortgage points if you plan to stay in the home long enough to recoup the cost. You can determine the breakeven point, or the period of time you'd need to keep the mortgage to make up for the fee, by dividing the cost by the amount saved each month.¹⁵ This can help you determine whether or not mortgage points would be a good investment for you.

Getting Started

Unfortunately, the rock-bottom mortgage rates we saw during the height of the pandemic are behind us. However, today's 30-year fixed rates still fall beneath the historical average of around 8% — and are well below the all-time peak of 18.45% in 1981.^{16, 17}

And although higher mortgage rates have made it more expensive to finance a home purchase, they have also eliminated some of the competition from the market. Consequently, today's buyers are finding more homes to choose from, fewer bidding wars, and more sellers willing to negotiate or offer incentives such as cash toward closing costs or mortgage points.

If you're ready and able to buy a home, there's no reason that concerns about mortgage rates should sideline your plans. The reality is that many economists predict home prices to continue climbing.¹⁸ So you may be better off buying today at a slightly higher rate than waiting and paying more for a home a few years from now. You can always refinance if mortgage rates go down, but you can't make up for the lost years of equity growth and appreciation.

If you have questions or would like more information about buying or selling a home, reach out to schedule a free consultation. We'd love to help you weigh your options, navigate this shifting market, and reach your real estate goals!

Sources:

1. Washington Post -
   https://www.washingtonpost.com/business/2022/08/04/mortgage-rates-sink-below-5-percent-first-time-four-months/
2. Trading Economics -
   https://tradingeconomics.com/united-states/average-mortgage-size
3. NerdWallet -
   https://www.nerdwallet.com/article/finance/what-is-a-good-credit-score
4. org -
   https://www.debt.org/credit/improving-your-score/
5. The Balance -
   https://www.thebalance.com/will-multiple-loan-applications-hurt-my-credit-score-960544
6. Time -
   https://time.com/nextadvisor/mortgages/how-lenders-evaluate-your-employment/
7. Bankrate -
   https://www.bankrate.com/mortgages/why-debt-to-income-matters-in-mortgages/
8. NerdWallet -
   https://www.nerdwallet.com/article/mortgages/payment-buy-home
9. Consumer Financial Protection Bureau -
   https://www.consumerfinance.gov/owning-a-home/loan-options/
10. NerdWallet -
    https://www.nerdwallet.com/article/mortgages/jumbo-loans-what-you-need-to-know
11. Bankrate -
    https://www.bankrate.com/mortgages/arm-vs-fixed-rate/
12. MarketWatch -
    https://www.marketwatch.com/picks/as-mortgage-rates-rise-heres-exactly-how-more-homebuyers-are-snagging-mortgage-rates-around-4-01656513665
13. Consumer Financial Protection Bureau -
    https://www.consumerfinance.gov/owning-a-home/loan-options/#anchor_loan-term_361c08846349fe
14. Federal Trade Commission -
    https://consumer.ftc.gov/articles/shopping-mortgage-faqs
15. Bankrate -
    https://www.bankrate.com/mortgages/mortgage-points/
16. CNBC -
    https://www.cnbc.com/select/mortgage-rates-today-still-relatively-low/
17. Rocket Mortgage -
    https://www.rocketmortgage.com/learn/historical-mortgage-rates-30-year-fixed
18. MarketWatch -
    https://www.marketwatch.com/picks/continuing-home-price-deceleration-heres-what-5-economists-and-real-estate-pros-predict-will-happen-to-the-housing-market-this-year-01659347993

Walking your dog yields some great benefits for you as well as your pooch, and the activity has its own week October 1-7 to call attention to its advantages. In addition to being good exercise that helps you both keep your weight in check, walking your pup lets you both socialize. It also helps keep Fido from getting bored and engaging in destructive behaviors.

Dog parks are the perfect spot to walk your dog for a bit and then take him off-leash to romp in a safe area. Our real estate agents suggest visiting the following dog parks in Stark and Summit counties during Walk Your Dog Week and beyond.

• Dick Goddard Dog Park at Ariss Park - 2520 Wise Rd., North Canton, OH 44720
  Located within 80-acre Ariss Park near North Canton homes for sale, Dick Goddard Dog Park has separate areas for large and small dogs. Those over 25 pounds have a 1.3-acre area, and small dogs weighing 25 pounds or less have a half acre of space. You'll also find a nearly two-acre off-leash dog run and water fountains for both of you.
  
  
• Veterans Park Dog Park - 1714 Schneider St. NE, Canton, OH 44721
  Veterans Park Dog Park, located just around the corner from Canton homes for sale, has plenty of shade and lush green grass for both you and your dog, making your visit more comfortable. And if Fido gets overheated or dirty, you can even cool him off or clean him up at one of the park's six dog showers open in spring, summer, and fall. Small dogs under 30 pounds have 1.5 acres to play in, and dogs over 30 have 2.5 acres of their own.
  
  
• Akron Dog Park 499 Memorial Parkway, Akron, OH 44310
  Operated by the non-profit group Better Akron Recreation for Canines, Akron Dog Park was founded in 2004. Located near Akron homes for sale, the park has a separate small dog park for pets who weigh 30 pounds or less. It features fenced-in grass/gravel terrain where dogs can run and play, as well as agility obstacles and play equipment so they can have even more fun. Sit on a bench in the shade and watch your dog romp, and take him to cool off at the seasonal doggie drink station as needed.
  
  
• Portage Lakes State Park - 5031 Manchester Rd., Akron, OH 44319 
  Portage Lakes State Park is a popular destination for sailing, jet skiing, water skiing, and wildlife watching. These activities make the 411-acre park well worth a trip, and if you're a dog owner, it will probably become one of your favorites to visit. It has a dog park that's partially fenced with room for your pooch to frolic, and there's even an unfenced dog swim area to help him cool off or to get more exercise.
  
  
• Keyser Dog Park  - 550 Keyser Pkwy., Cuyahoga Falls, OH 44221
  Earning positive comments on several sites dedicated to helping dog owners find the best parks, Keyser Dog Park gives your pooch plenty of room to romp and play off-leash. The fenced-in park consists of two acres of gentle, rolling space and is conveniently located near Cuyahoga Falls homes for sale. Cool off in the park's shade, and let your dog do the same. A water hydrant is also available.

Contact us if you're in the market for a new home. Our experienced agents can help you find just the right one and will make the transaction as smooth and easy as possible. 

As the leaves begin to turn and the days get colder, it's time to get your home ready for the harsh winter months. If you've recently bought a house, you may be surprised by the amount and intensity of home maintenance activities. Homeownership is a huge investment that requires regular maintenance and care. That said, it can feel like a daunting chore, especially if you're a first-time homebuyer.

As summer draws to a close, here's an end-of-summer homeowner maintenance checklist from our real estate agents that can help you better protect your investment.

Inside Your Home

• Inspect the Air Conditioning
  Check and replace air filters as necessary. Inspect your vents, dryer vents, and baseboard heaters for any built-up dust and clean them. Make sure your thermostat is in tip-top shape. Turn up the heat to ensure your furnace is working properly.
  
  If you have central air, the beginning of autumn is a great time to get your HVAC system serviced. A clean system will be more energy efficient. Moreover, a professional can catch and fix problems when they're still minor, helping you avoid a costly emergency repair down the road.
  
  
• Check Windows and Doors
  Check any openings for drafts and caulk where necessary, as drafts can increase your heating bill by increasing your HVAC system's workload. It may also be a good idea to install storm windows and doors to keep the heat in and the cold out.
  
  
• Home Upgrades and Renovation Projects
  Thinking of adding your home to the North Canton homes for sale listing? The beginning of fall is a great time to get started on home upgrades. The temperature is usually moderate, giving you the freedom to update the bathroom or knock down a wall or two.
  
  
• Touch Up the Paint
  Speaking of home upgrades, there's no better time to give your walls a fresh coat of paint than at the beginning of fall. Temperatures are cooler, which means the paint won't dry too fast like it would during the height of summer. Moreover, fall is warm enough that you can open your windows for longer to bring in fresh air.

Outside the House

• Clean Your Gutters
  Here's a task you should perform ever so often. Removing leaves, twigs, and brambles from your spouting means you won't have to deal with falling icicles come winter.
  
  
• Repair Driveways and Walkways
  Winter rain and snow can cause the cracks in your driveway to widen and deepen. That's why filling any cracks during fall is important to prevent them from eroding any further.
  
  
• Inspect Your Roof and Soffits
  You can probably get away with a visual inspection of your roof if it's just a few years old. However, it's crucial to perform an integrity test once a year. Check your roof for soft spots, replace loose shingles, and maybe get a professional installer to take a look. Any discoloration in your soffits or stains on your ceiling could indicate a leak.

Are You Ready to Buy a House?

It's true that anyone can shop for a house. But it can be an incredibly stressful experience. Experienced real estate agents can match you with the perfect property much faster, taking some of the hassle and stress off your shoulders. Contact us to get a look at our Akron homes for sale.

The process of buying a new home can be both exhilarating and exhausting. But the journey doesn't stop when you close on your property. On the contrary, you still have quite a bit to do before you can begin the process of settling into your new place.

Fortunately, you don't have to do everything in a day. You don't have to do it all alone, either. When you work with us to sell or purchase a home, you'll have an ally by your side long after your transaction has closed. We'll continue to be a resource, offering advice and referrals whenever you need them on packing, hiring movers and contractors, and acclimating to your new home and neighborhood.

When it comes to a life event as stressful as moving, it pays to have a professional by your side. Here are some of our favorite pro tips to share with clients as they prepare for an upcoming move.

1. Watch out for moving scams.

Maybe you receive a flyer for a moving company in the mail. Perhaps you find a mover online. Either way, never assume that you're getting accurate information. According to the Better Business Bureau, moving-related fraud is on the rise. In 2021 alone, individuals and families reported more than $730,000 lost to moving scams, an increase of 216% over the previous year.¹

How can you tell if a moving deal is too good to be true? Trust your instincts. If the price appears too low or you can't pin down the mover's physical business address, try someone else. The same goes for any moving company representative who dodges questions. Reputable movers should offer transparent pricing, conduct in-home estimates, and provide referrals and copies of their insurance documents upon request.² For help finding trustworthy movers, reach out. We'd be happy to share our recommendations. 

2. Insure your belongings.

Your moving company promises to take care of your custom piano or your antique furniture. But don't just take their word for it. Ask to see how much insurance they carry and talk about how the claims process works. That way, you'll know what is (and isn't) covered in case of loss or damage.

Of course, some items are priceless because they're irreplaceable. You might want to move your more sensitive valuables (jewelry, documents, family heirlooms, etc.) in your own vehicle just to be safe. For added peace of mind, call your rental or home insurance provider if you're moving anything yourself. You might already be protected or be able to purchase extra insurance to cover your move. If those options are unavailable, you could opt for moving insurance from a third-party carrier.³

3. Start packing when you start looking for a new home.

As soon as your house hunting begins in earnest, think about packing away things you won't need for the next few months. These could include seasonal or holiday decor, clothing, and books. Tackling just one or two boxes a day will give you a head start.

If you're going to put your current home on the market, you'll want to declutter anyway. Decluttering will make your home seem larger, and depersonalizing helps buyers envision their own items in the space. Consider selling, donating, or throwing out possessions you no longer need. The things you want to keep can be placed in storage until you officially start moving to a new place.

4. Pack to make unpacking easier.

Have you ever opened a packed box only to find that it's filled with an assortment of items that don't belong together? This isn't efficient and will only make unpacking harder. A better way to pack is to bundle items from a single room in a labeled box. Labels can let movers know (and remind you) where to place each box, whether it's fragile, and which side needs to be up. Some people like to assign colors to each room in their new home to make distributing color-coded boxes a breeze.

Feel free to unleash your inner organizer with this project. For example, you could create a spreadsheet and assign each box a number. As boxes are packed, simply fill in the spreadsheet with a list of contents. Anyone with access to the spreadsheet can log in and quickly find the desired item.

5. Think outside the box when transporting clothes.

Who wants to worry about boxing up clothes? If you plan on hiring professional movers, ask if you can leave clothing in your dressers. In many cases, they will use plastic to wrap the dresser so the drawers don't fall out during transport. If keeping your clothes in your furniture makes it too heavy, the movers might be able to wrap and move drawers by themselves.

Another easy transport trick involves turning clean garbage bags into garment bags. Poke a hole in the bottom of a garbage bag, turn the bag upside down, slide it over five to seven garments on hangers, and lay the items flat in the back seat or trunk of your vehicle. The bags will help prevent wrinkling, and your clothes will be ready to hang up when you get to your new home.

6. Document prior to disassembling appliances and furnishings.

Few things are as confusing as looking at a plastic baggie filled with nuts, bolts, and screws from your disassembled dining room table or sorting through a box of electrical wires and cords to see which ones fit your TV.

The best workaround to easier reassembly is to document the disassembly process. Take photos and videos or thorough notes as you go. Whether it's your headboard or treadmill, be very precise. And just a tip: Construct your beds first when you get to your new home. After a long moving day, the very last thing you want is to be assembling beds into the wee hours of the morning.

7. Prioritize unpacking kids' rooms.

Children can become very stressed by a big move. To ease their transition, consider prioritizing unpacking their rooms as their "safe zones."⁴ You aren't obligated to unpack everything, certainly. However, set up your children's rooms to be functional. That way, your kids can hang out in a private oasis away from the chaos while you're running around and moving everything else.

Depending upon how old your youngsters are, you might want to give them decorating leeway, too. Even if it's just letting them choose where furniture goes, it gives them a sense of buy-in. This can help ease the blues of leaving a former home they loved.

8. Be a thoughtful pet parent.

Many types of pets can't handle the commotion of moving day. Knowing this, be considerate and seek ways to give your pets breaks from the action. You might ask a friend to pet sit your pooch or keep your kitty in a quieter room, like a guest bathroom.

Be sure to check in on your pet frequently. Pets like to know that you're around. Give them treats, food, and water throughout the day. When it's time to transport your pet, do it calmly. At your new property, give your pet access to just a room or two at first. Pets typically prefer to acclimate themselves slowly to unfamiliar environments.⁵

9. Plan for your move like you're planning for an exciting vacation.

When you plan vacations, you probably look up local restaurants, shops, and recreational areas. Who says you can't do the same thing when moving? Create a list of all the places you want to go and things you want to do around your newly purchased home. Having a to-explore list keeps everyone's spirits high and gives you starting points to settle into the neighborhood.

And don't feel that you have to cook that first night. Once the moving trucks are gone, you can always pop over to a local eatery or order DoorDash for major convenience. The first meal in your new home should be a happy, welcoming treat. And if you're relocating to our neck of the woods, we would love to introduce you to all the hot spots in town and recommend our local favorites.

10. Pack an "Open Me First!" box.

You won't be able to unpack all your boxes in one day, but you shouldn't go without your sheets, pillows, or toothbrush. Designate some boxes with "Open Me First!" labels. (Pro tip: Keep a tool kit front and center for all that reassembling.)

Along these lines, use luggage and duffel bags to transport everyone's personal must-have items and enough clothing for a couple of days. That way, you won't have to rummage through everything in the middle of your move looking for sneakers or snacks.

When packing your "Open Me First!" boxes, think about which items you'll need in those first 24 hours. For example, toilet paper and hand soap are musts. A box cutter will make unpacking a lot easier, and paper towels and trash bags are sure to come in handy. Reach out for a complete, printable list of "Open Me First!" box essentials to keep on hand for your next move!

LET'S GET MOVING

Getting the phone call from your real estate agent that your bid was accepted is a thrilling moment. Make sure you keep the positivity flowing during the following weeks by mapping out a streamlined, efficient move. Feel free to get in touch with us today to help make your big move your best move.

Sources:

1. Better Business Bureau - https://www.bbb.org/article/scams/24198-bbb-scam-alert-avoid-moving-scams-this-national-moving-mont
2. org -
   https://www.move.org/how-to-tell-moving-company-scam/
3. Forbes -
   https://www.forbes.com/advisor/homeowners-insurance/moving-insurance/
4. New York Times -
   https://www.nytimes.com/2020/07/13/parenting/moving-tips-kids.html
5. ASPCA -
   https://www.aspca.org/pet-care/general-pet-care/moving-your-pet

Fall brings cooler temperatures with a crisp feel to the air, and with the hustle and bustle of school starting back, it's the perfect time to have some family fun on the weekends. Several farms and orchards around Stark county offer loads of activities for the whole family, making them a great place to visit for the day or afternoon.

Our real estate agents recommend checking out the following popular destinations for fall family fun in the area.

1. Maize Valley - 6193 Edison St. NE, Hartville, OH 44632
   Maize Valley is a popular destination for Ohio families seeking fall fun since it offers so much to do. In addition to navigating through an 8-acre corn maze, your family can play trivia with questions hidden throughout the maze. The younger kids can also take an animal train ride, and you can gather the whole family for an old-fashioned wagon ride. Other fun activities include pumpkin cannon demonstrations, a pumpkin jump pad, goat-a-palooza animal area, straw bale mountain, push carts, pedal trikes, Farmagination village, and more. And for a few extra dollars, you can try your luck at finding a sparkling treasure at the gem mine. Maize Valley is just around the corner from Hartville homes for sale.
   
   
2. Kingsway Pumpkin Farm - 1555 Andrews St. NE, Hartville, OH 44632
   If you're looking for a day or afternoon of family-friendly fall fun, head to Kingsway Pumpkin Farm. A general admission ticket gives you access to activities, including the 8-acre corn maze with a butterfly design. You'll also be able to meet farm animals, play in a corn box and straw tunnel, and more. If you're looking for pumpkins to add to your fall decor, take a wagon ride to the patch and pick your pumpkins, which are sold by weight. Make sure to bring your phone or camera along to take photos since you'll find plenty of displays and photo props hand-painted by the owner to create great backdrops.
   
   
3. Nickajack Farms - 2955 Manchester Ave. NW, North Lawrence, OH 44666
   Nickajack Farms has been holding its Pumpkin Days festival for nearly 20 years, adding more activities and games each year. In addition to a corn maze, other activities include taking wagon rides, interacting with barnyard animals, zooming down a 30-foot slide, shooting paintballs at targets, blasting corn from cannons, bowling with pumpkins, and digging in a corn crib filled with 10,000 pounds of corn. You can also take a wagon ride to the pick-your-own pumpkin patch or choose some gourds and squash. Grab some bundled Indian corn and corn stalks to complete your fall look.
   
   
4. Arrowhead Orchard - 11724 Lisbon St. SE, Paris, OH 44669
   Established in 1932, Arrowhead Orchard has grown from a hand-planted orchard to include plenty of fall activities along with crops. Take the kids to tackle the corn maze or take a walk through beautiful sunflowers. You'll all enjoy unlimited hayrides, which could make for a welcome respite after more active pursuits like slides, a zip line, hay mountain, an apple cannon, an obstacle course, tree climb, and more. You can also pick your own pumpkin or cut your own beautiful sunflower bouquet to take home.

Contact us if you love Stark County as much as we do. For nearly 50 years, we've helped customers find homes in the area and would love to help you find one as well! 

How big should your down payment be?

When home prices rise, so do the down payments required to purchase those homes. This has long posed a roadblock for many would-be first-time homebuyers. But it doesn't have to be the case.

Our real estate agents share everything you need to know about making a down payment on a home.

Down Payments: How They Work, How Much to Pay

A down payment is simply the part of the home's purchase price you pay upfront. It might be the biggest check you ever write in your life, and the amount you pay could impact your finances for years, if not decades.

Contrary to conventional wisdom, you don't have to put 20 percent down on a house. There's no law or rule for a universal minimum down payment. The amount you should put down is a personal decision that depends on what's best for your finances. Lenders require homebuyers to make a down payment for most mortgages. For instance, the amount is usually 3% of the home's price for conventional mortgages.

On that note, most lenders will require a down payment of 20 percent to avoid paying private mortgage insurance (PMI)—in case you're wondering where the 20 percent number comes from. Far from most types of insurance, this legally binding document protects the lender's vested interest in the home, not the homeowner.

When you make a down payment of less than 20 percent, your mortgage loan-to-value (LTV) ratio is over 80 percent. As such, you present a higher risk profile to the lender, which necessitates purchasing private mortgage insurance to offset this risk. PMI will increase your monthly mortgage costs until you have accumulated enough equity in the home that the lender no longer considers you high risk. So, there are advantages to making a larger down payment.

Another advantage is lower interest rates. A solid down payment may signify that you're less likely to default on your loan, which may prompt lenders to reduce your mortgage interest rate. Even saving a fraction of a percent on your interest rate could save you thousands of dollars over the life of your loan. Still, your overall interest will depend on factors other than your down payment, such as credit scores, home price, and loan term.

Down Payment Requirements by Loan Type

As mentioned, down payment requirements vary depending on the type of mortgage you qualify for. For instance, if you qualify for government loans, your down payment may be as low as zero.

There are several options for a mortgage with no or low down payment:

1. Veterans Affairs (VA) Loans
   The Department of Veterans Affairs partially guarantees these loans. VA loans typically have low down payment requirements, are more flexible in terms of credit score, and carry lower interest rates than conventional mortgage products. However, you must be a veteran, active-duty service member, member of the National Guard, reserve, or an eligible surviving spouse of a veteran to qualify.
   
   
2. FHA Loans
   Insured by the Federal Housing Association, these loans require a lower minimum down payment than many conventional loans. Many first-time buyers may find FHA loans the more affordable mortgage option.
   
   
3. USDA Loans
   The U.S. Department of Agriculture (USDA) provides zero-down homeownership opportunities to low- and moderate-income Americans. However, you must live or plan to live in an eligible rural area to qualify.

It's important to weigh your mortgage options before committing to a down payment amount. Even though a 20 percent down payment is ideal, you shouldn't fixate on it. The right amount depends on numerous factors, including how much you can comfortably afford. You don't want your down payment to be so large that it leaves you with too little savings.

Ready to Purchase Your First Home?

Our agents have the expertise and years of experience to guide you through the process. Contact us today to view North Canton homes for sale.

While the hot seller's market of the last few months has begun to cool down, there are still many people out there looking for North Canton homes for sale or Akron homes for sale. Today's Ohio homeowners easily benefit from the great interest in the local area and meet qualified buyers.

Our real estate agents know you want to get the most value for your home and finish the sales process as quickly as possible. In fact, it's usually for the best when the sale is complete within 30 days. After the 60-day mark, buyers may wonder if something is wrong with the home.

At 90 days, most homes need to be re-listed, which can add months to your timeline.

How can you avoid these issues? To get the results you want, it's crucial not to go it alone.

Many homeowners have been exploring "FSBO" – for sale by owner, the name given to selling without a real estate agent. They may feel that they'll make more money without paying a commission, but the situation is a little more complex than it looks at first.

Selling without an agent can cost you both time and money. On the other hand, the insights of an experienced agent help you maximize your returns, no matter what the housing market looks like.

Let's dive deeper and see how sellers like you benefit from working with an agent:

• An Agent Attracts More Offers for Your Home
  One of your agent's biggest roles is managing your home's marketing. Agents work hard to publicize your home and keep you in the loop about what's been done on your behalf. They'll lead in developing your listing, open house events, virtual tours, staging, and much more.
  
  
• An Agent Is Your Interface to Buyers
  Any time a home goes on sale, some people will only show up out of curiosity. Your agent helps separate serious and qualified buyers from the rest,  saving dozens of hours you would otherwise spend having conversations that might not go anywhere.
  
  
• An Agent Helps You Price Your Home to Sell
  For the best results, pricing any home needs to be done scientifically. A "priced-to-sell" home is aligned with recent sales of similar homes in the same area. Your agent will do all the research to find a price point that meets your needs while still being enticing enough to draw people to the property.
  
  
• An Agent Helps You Avoid Legal Liabilities
  One detail many buyers and sellers alike aren't aware of is the way an agent protects you from serious paperwork errors. A small oversight in how you describe your home or the forms required for closing can leave you vulnerable to fines, legal problems, and much more.
  
  
• An Agent Helps You Negotiate
  A "bidding war" is the dream scenario for many sellers—it means you have plenty of buyers engaged and interested. But that doesn't mean you simply sit back and watch the sparks fly. Whether you need to consider multiple bids or make a counter-offer, an agent's expertise is invaluable.
  
  
• An Agent Supports You in Informed Decision-Making
  During the selling process, emotions can run high for parties on both sides of the transaction. Your real estate agent is an ally who brings a useful outside perspective to every major question. This has helped countless sellers throughout Ohio make decisions they feel truly confident about.

Contact us at DeHoff Realtors to learn more about your selling opportunities.

No matter what's going on in the housing market, the process of selling a home can be challenging. Some sellers have a hard time saying goodbye to a treasured family residence. Others want to skip ahead to the fun of decorating and settling into a new place. Almost all sellers want to make the most money possible.

Whatever your circumstances, the road to the closing table can be riddled with obstacles — from issues with showings and negotiations to inspection surprises. But many of these complications are avoidable when you have a skilled and knowledgeable real estate agent by your side.

For example, here are seven common mistakes that many home sellers make. These can cause anxiety, cost you time, and shrink your financial proceeds. Fortunately, we can help you avert these missteps and set you up for a successful and low-stress selling experience.

MISTAKE #1: Setting an Unrealistic Price

Many sellers believe that pricing their homes high and waiting for the "right buyers" to come along will net them the most money. However, overpriced homes often sit on the market with little activity, which can be the kiss of death in real estate — and result in an inevitable price drop.¹

Alternatively, if you price your home at (or sometimes slightly below) market value, it can be among the nicest that buyers see within their budgets. This can increase your likelihood of receiving multiple offers.²

To help you set a realistic price from the start, we will do a comparative market analysis, or CMA. This integral piece of research will help us determine an ideal listing price based on the amount that similar properties have recently sold for in your area.

Without this data, you risk pricing your home too high (and getting no offers) or too low (and leaving money on the table). We can help you find that sweet spot that will draw in buyers without undercutting your profits. 

MISTAKE #2: Trying to Time the Market

You've probably heard the old saying, "Buy low and sell high." But when it comes to real estate, that's easier said than done.

Delaying your home sale until prices have hit their peak may sound like a great idea. But sellers should keep these factors in mind:

1. Predicting the market with certainty is nearly impossible.
2. If you wait to buy your next home, its price could increase as well. This may erode any additional proceeds from your sale.
3. If mortgage rates are rising, your pool of potential buyers could shrink — and you would have to pay more to finance your next purchase.

Instead of trying to time the market, choose your ideal sales timeline. This may be based on factors like your personal financial situation, shifting family dynamics, or the seasonal patterns in your neighborhood. We can help you figure out the best time to sell given your individual circumstances.

MISTAKE #3: Failing to Address Needed Repairs

Many sellers hope that buyers won't notice their leaky faucet or broken shutters during home showings. But minor issues like these can leave buyers worrying about more serious — and costly — problems lurking out of sight.

Even if you do receive an offer, there's a high likelihood that the buyer will hire a professional home inspector, who will flag any defects in their report. Neglecting to address a major issue could lead buyers to ask for costly repairs, money back, or worse yet, walk away from the purchase altogether.

To avoid these types of disruptions, it's important to make necessary renovations before your home hits the market. We can help you decide which repairs and updates are worth your time and investment. In some cases, we may recommend a professional pre-listing inspection.

This extra time and attention can help you avoid potential surprises down the road and identify any major structural, system, or cosmetic faults that could impact a future sale.³

MISTAKE #4:  Neglecting to Stage Your Home

Staging is the act of preparing your home for potential buyers. The goal is to "set the stage" to help buyers envision themselves living in your home. Some sellers opt to skip this step, but that mistake can cost them time and money in the long run. A 2021 survey by the Real Estate Staging Association found that, on average, staged homes sold nine days faster and for $40,000 over list price.⁴

Indoors, staging could include everything from redecorating, painting, or rearranging your furniture pieces to removing personal items, decluttering, and deep cleaning. Outdoors, you might focus on power washing, planting flowers, or hanging a wreath on the front door.

You may not need to do all these tasks, but almost every home can benefit from some form of staging. Before your home hits the market, we can refer you to a professional stager or offer our insights and suggestions if you prefer the do-it-yourself route.

MISTAKE #5: Evaluating Offers on Price Alone

When reviewing offers, most sellers focus on one thing: the offer price. While dollar value is certainly important, a high-priced offer is worthless if the deal never reaches the closing table. That's why it's important to consider other factors in addition to the offer price, such as:

• Financing and buyer qualifications
• Deposit size
• Contract contingencies
• Closing date
• Leaseback options

Depending on your circumstances, some of these factors may or may not be important to you. For example, if you're still shopping for your next home, you might place a high premium on an offer that allows for a flexible closing date or leaseback option.

Buyers and their agents are focused on crafting deals that work well for them. We can help you assess your needs and goals to select an offer that works best for you.

MISTAKE #6: Acting on Emotion Instead of Reason

It's only natural to grow emotionally attached to your home. That's why so many sellers end up feeling hurt or offended at some point during the selling process. Low offers can feel like insults. Repair requests can feel like judgments. And whatever you do — don't listen in on showings through your security monitoring system. Chances are, some buyers won't like your decor choices, either!

However, it's a huge mistake to ruin a great selling opportunity because you refuse to counter a low offer or negotiate minor repairs. Instead, try to keep a cool head and be willing to adjust reasonably to make the sale. We can help you weigh your decisions and provide rational advice with your best interests in mind.

MISTAKE #7: Not Hiring an Agent

There's a good reason 90% of homeowners choose to sell with the help of a real estate agent. Homes listed by agents sold for 22% more than the average for-sale-by-owner home, according to a recent study by the National Association of Realtors.⁵

Selling a home on your own may seem like an easy way to save money. But in reality, there is a steep learning curve. And a listing agent can:

• Skip past time-consuming problems
• Use market knowledge to get the best price
• Access contacts and networks to speed up the selling process

If you choose to work with a listing agent, you'll save significant time and effort while minimizing your personal risk and liability. And the increased profits realized through a more effective marketing and negotiation strategy could more than make up for the cost of your agent's commission.

We can navigate the ins and outs of the housing market for you and make your selling process as stress-free as possible. You may even end up with an offer for your home that's better than you expected.

BYPASS THE PITFALLS WITH A KNOWLEDGEABLE GUIDE

Your home selling journey doesn't have to be hard. When you hire us as your listing agent, we'll develop a customized sales plan to help you get top dollar for your home without any undue risk, stress, or aggravation. If you're thinking of buying or selling a home, reach out today to schedule a free consultation and home value assessment.

Sources:

1. The Washington Post -
   https://www.washingtonpost.com/business/2019/07/22/just-because-its-sellers-market-doesnt-mean-you-should-overprice-your-home/
2. com -
   https://www.realtor.com/advice/sell/spark-a-bidding-war-for-your-home/
3. American Society of Home Inspectors - https://www.homeinspector.org/Newsroom/Articles/Before-You-Sell-6-Reasons-to-Get-a-Pre-Listing-Inspection/15766/Article
4. Real Estate Staging Association -
   https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548

National Association of Realtors -
https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics

Has there ever been a more perfect pair than wine and cheese? Our real estate agents don't think so. North Canton's lush fields and semi-rural layout make it one of the best areas for growing grapes in Ohio, and many top-tier wineries have sprung up in response to these conditions. Get your wine and cheese fix at any of these five spots around North Canton and experience a treat you'll never forget. 

• Maize Valley Winery – 6193 Edison Street NE (St. Rt. 619), Hartville, OH 44632
  Maize Valley Winery is located near our Hartville homes for sale and has been owned and operated by the same family since the 1960s. The establishment produces a wide variety of delectable red and white wines and a few fruit wines made from apples, berries, and other less conventional ingredients. These wines pair perfectly with the Amish meats and cheeses available at their on-site deli.
  
  If you'd prefer to sample your cheese at their full-service restaurant, you can order their Artichoke Asiago Dip alongside a glass of wine. You can also get your cheese fix from cheese-heavy sandwiches like the Maize Valley Melt, a mouthwatering sandwich made from grilled sourdough bread piled high with ham and provolone.
  
  
• 1875 Winery & Restaurant – 109 State Route 44 Hartville, OH 44632
  Named for the year in which the barn that houses the business was built, the 1875 Winery & Restaurant prides itself on handcrafted, small-batch wines. From the High and Tight dry rose to the Down N Dirty sweet red, there's a wine here to suit everyone's tastes. 
  
  Sip your wine in their restaurant alongside one of their charcuterie boards, delightful creations made from an assortment of cheese, sausage, crackers, and bruschetta. Boards can be made gluten-free upon request. More adventurous diners can also try the Fried Cheese Skewers, deliciously savory nuggets served with spicy aioli sauce for dipping. 
  
  
• Forever Craft Urban Winery – 2640 Easton Street NE, Canton, OH 44721
  The Forever Craft Urban Winery is proof that you don't need acres of land to make excellent wine. This small establishment offers everything from a classic dry red merlot to Summer Picnic, a sweet strawberry watermelon white shiraz, all made in-house in small batches. Take a seat at the bar and try one or two of their lovingly crafted creations.
  
  When you're ready to eat, you can order a mouthwatering charcuterie board to nibble on. These boards come in different sizes to serve anywhere from two to 10 people, so you can enjoy yours with a group if you like. Each board comes brimming with an assortment of meats, cheese, fruits, crackers, nuts, and even chocolates for your snacking pleasure.
  
  
• The Crush House at Gervasi Vineyard – 1700 55th Street NE, Canton, OH 44721
  The Gervasi Vineyard is a 55-acre estate near our Canton homes for sale serving red and white wines made from grapes harvested right there in the fields. Each of their fresh, crisp wines is carefully crafted to bring out the rich flavors of these delicate fruits.
  
  At the vineyard's restaurant, The Crush House, you can sample some of these wines while enjoying a premium Italian Meat and Cheese Plate. Those in the mood for something lighter might enjoy their Whipped Lemon Feta Spread on gourmet crackers. For a special treat, try their Provolone Carrozza, an indulgent fried cheese sandwich considered one of the restaurant's specialties. 
  
  
• Dragonfly Winery – 215 Market Street W, Canal Fulton, OH 44614
  The Dragonfly Winery is a quaint establishment near our Canal Fulton homes for sale, serving various handcrafted drinks and aperitifs. Their selection of artisan wines includes boldly named options like Rivers' Edge, Sunflower Sunset Peach Apricot, and Twisted Teacup. 
  
  You can choose from several cheese-based dishes for the cheese part of your wine-and-cheese treat. In addition to their Cheese and Cracker Plates and Meat and Cheese Plates, the restaurant also serves delectable cheese dips that are perfect for savoring. Choose from the Blueberry and Goat Cheese Dip, the Honey Apricot Goat Cheese Spread, or the Caramel Apple Cream Cheese Spread, and enjoy every bite. 

North Canton's delicious wine and cheese options aren't the only thing to love about this place. Contact us today for more information on our North Canton homes for sale and learn how easy it is to settle down in this scenic Ohio area.

The Akron Zoo has been a staple of family fun near Akron homes for sale for decades, with significant expansion since the early 2000s leading to new exhibits, rides for kids, special events, and amenities for visitors to enjoy. Summer is the perfect time to experience a fun, educational family outing to the Akron Zoo, with a busy schedule of special events, summer camps for kids, and many animals to see. Our real estate agents have the key information to help you plan your next family day at the Akron Zoo.

• Get to Know the Animals
  Did you know that the number of animals under the care of the Akron Zoo has increased by 200 percent over the last 15 years? Today, the zoo is home to a diverse collection of animals from both land and sea. The seven categories of animals living at the zoo include mammals, birds, reptiles, amphibians, fish, invertebrates, and even carnivorous plants. There are many rare species to see here, like the Red Panda, Bald Eagle, Sumatran Tiger, Galapagos Tortoise, Giant Pacific Octopus, and South American Sea Nettle, to name just a few.
  
  
• Animal Habitats and Exhibits
  All of the animals at the Akron Zoo are cared for in habitats that mimic what they experience in nature. There are 10 distinct habitats to explore, including the Pride of Africa, Wild Asia, Curious Creatures, Legends of the Wild, Penguin Point, Grizzly Ridge, Komodo Kingdom, and Wild Prairie. Many of the zoo's birds are housed within the large Aviary, while plants and animals can be found within the Lehner Family Zoo Gardens.
  
  
• Unique Experiences at the Akron Zoo
  For families who want a behind-the-scenes look at the Akron Zoo, some great unique experiences are available this summer. The Rise and Shine Safari, offered on mornings from Friday through Monday, is a tour with experienced staff members that allows you to explore the zoo before it opens to the public. You'll learn all about the habitats, discover how the animals are cared for, and participate in unique, interactive experiences with the animals.
  
  The Get Closer Experience is another great option for an up-close experience with creatures like the Galapagos Turtle, goats, and Animal Ambassadors. Get Closer Experiences also include one-on-one time with a zookeeper. All experiences must be scheduled at least two weeks in advance, so plan ahead.
  
  
• Special Events and Camps for Summer Fun
  Summer is a busy time for special events at the zoo, with events for families and some events for adults 21 and older. Popular events include Princess & Pirate Day, Members' Nights, Summer Safari, and Paws & Reflect: Yoga for Conservation. Kids aged 6 through 16 can also be enrolled in the summer ZooCamp, where they'll learn about the zoo, the habitats, and the animals living there through fun, hands-on experiences.
  
  
• Tickets, Parking, and What to Know Before You Visit
  The Akron Zoo is open daily April 1 through October 31 from 10:00 am through 5:00 pm, with limited hours in the winter. Admission is $14 for adults, $12 for seniors, and $11 for kids, with online purchasing available. Parking costs $5 per vehicle when purchased on-site or $3 if you purchase parking online before visiting.

When you're ready to buy or sell your next home near the great family attractions of Akron, our team is here to help. Contact us for assistance with all of your real estate needs in the Akron area.

Can you believe that the Fourth of July is already around the corner? As always, Ohio communities will be pulling out all the stops to celebrate this special day with community events that the whole family can enjoy. Both Akron and North Canton have some holiday events that you won't want to miss. Our real estate agents have all of the details on where to celebrate the Fourth of July in your favorite Ohio communities.

• North Canton Jaycees July Fourth Parade – 605 Fair Oaks Ave. SW., North Canton, OH 44720
  The North Canton Jaycees July Fourth Parade is always a local favorite near North Canton homes for sale, providing the perfect event to kick off your celebration of the big day. You can see the parade on 7th Street, Main, and Harmon starting at 10:30 AM, or catch the end of the parade at North Canton Middle School at the address listed above. The parade features a wide variety of entertainment, from classic cars to dance teams, with an easy sign-up process if you'd like to join the parade with your own local group.
  
  
• North Canton YMCA July 4th Race – 200 S. Main St., North Canton, OH 44720
  Perhaps you'd like to fit in a great workout before digging into all of the goodies at a Fourth of July barbecue and have a great time in the process. This year marks the 44th annual edition of the North Canton YMCA July 4th Race, featuring four great races packed into one morning. The fun starts with the 100-yard Firecracker Dash for young children, followed by the 2-mile run for all ages. The 5-mile wheelchair and 5-mile races kick start shortly after, with routes that wind through North Canton.
  
  
• Akron RubberDucks – 300 S. Main St., Akron, OH 44308
  Summer and baseball go hand-in-hand, so why not celebrate the Fourth of July with a trip to the ballpark? The Akron RubberDucks provide affordable family entertainment near Akron homes for sale all summer long, and the Fourth of July is always one of the biggest nights of the season. Start things off by watching the RubberDucks go toe to toe with the Altoona Curve, and be sure to stick around after the game. Once the final pitch has been thrown, the biggest fireworks show of the year will light up the sky above Canal Park.
  
  
• Rib, White and Blue Festival – 200 S. Main St., Akron, OH 44308
  Start your celebration early with a trip to the Rib, White and Blue Festival in downtown Akron, which kicks off on Friday, July 1 and runs straight through the Fourth of July. Each day of the festival runs from morning through late evening, with great food, live entertainment, and free admission. Each night is highlighted by a free, live concert with tribute bands playing the hits from some of your favorite classic rock artists, including Bruce Springsteen, Queen, and Journey.
  
  
• Akron Fireworks – 200 S. Main St., Akron, OH 44308
  Want to see fireworks but can't make it out to the RubberDucks game? The Akron Fireworks show will be held at the same location as the Rib, White and Blue Festival, starting at 9:45 PM on the Fourth of July. Stake out your spot early for the best views, and get ready for a spectacular show.

When you're ready to buy or sell your next home in these great communities, our team is here to help. Contact us to buy and sell homes throughout the North Canton and Akron areas.

The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally by nearly 19% in 2021, driven primarily by low mortgage rates and a major supply shortage.¹

But while some had hoped 2022 would bring a return to normalcy, the U.S. real estate market continues to boom, despite rising interest rates and decreasing affordability.

So what's driving this persistent demand? And is there an end in sight?

Here are three factors impacting the real estate market right now. Find out how they could affect you if you're a current homeowner or plan to buy or sell a home this year.

MORTGAGE RATES ARE RISING FASTER THAN EXPECTED

Over the past couple of years, homebuyers have faced intense competition for new homes—in part due to historically low mortgage rates that were a result of the Federal Reserve's efforts to keep the economy afloat during the COVID-19 pandemic.

However, in response to a concerning level of inflation, the Fed is now reversing those efforts by raising the federal funds rate. And as a result, mortgage rates are rising, as well. Few experts predicted, though, that mortgage rates would go up as quickly as they have.

In January 2022, the Mortgage Bankers Association projected that rates would reach 4% by the end of this year.² By mid-April, however, the average 30-year fixed mortgage rate had already hit 5%, up from around 3% just one year prior.³ On a $400,000 mortgage that 2% difference could translate into an additional $461 per monthly payment.

Since then, mortgage rates have continued on an upward trend. So what impact do these rising rates have on demand? While many buyers had hoped for a cooling effect, experts warn that may not be the case.

Ali Wolf, the chief economist at housing market research firm Zanda, told Fortune magazine, "Rising mortgage rates are having a counterintuitive effect on the housing market. Home shoppers are sprung into action in an attempt to buy a home before mortgage rates rise any higher."⁴

Since inventory remains low, the resulting "race" has kept the homebuying market highly competitive–at least for now.

What does it mean for you?

While current 30-year fixed mortgage rates represent an increase over previous months, they remain well below the historical average of 8%.⁵ As inflation across the economy continues, the Fed is likely to raise rates further this year. Buyers should act fast to secure a good mortgage rate. We'd be happy to refer you to a lender who can help.

For sellers, speed is also of the essence. The pool of potential buyers may shrink as mortgages become more expensive. And if you plan to finance your next home, you'll want to act quickly to secure a favorable rate for yourself. Contact us today to discuss your options.

HOME PRICES KEEP CLIMBING

History shows that higher interest rates don't necessarily translate to lower home prices. In fact, home prices rose 5% between 1980 and 1982, a period of significantly higher mortgage rates and inflation.⁵

Forecasters expect that home prices will continue to go up throughout 2022, though likely at a slower pace than the 18.8% increase of the last 12 months.⁴ Bank of America predicts that prices will be up approximately 10% by the end of this year, while Fannie Mae estimates 11.2%.^6,7

In addition to limited supply and a race to beat rising mortgage rates, home values are also climbing because of positive economic indicators, like low unemployment.⁸ Plus, rents are soaring–up 17% from a year ago–which is prompting more first-time homebuyers to enter the market.⁹ Add to that the continued popularity of remote work, and it's easy to see why property prices continue to surge.

However, it's not all bad news for prospective homebuyers. Economists expect that as mortgage rates rise, the rate of appreciation will continue to taper, though the effect may be gradual.

"Eventually mortgage rates will slow down home prices," according to Ken Johnson, an economist at Florida Atlantic University interviewed by Marketwatch.¹⁰ "We should not see rapid upticks in prices as mortgage rates rise." Forecasters agree—Fannie Mae expects price increases to slow to 4.2% in 2023.⁷

What does it mean for you?

While the pace of appreciation will likely decrease next year, home prices show no signs of going down. However, current labor shortages lead to higher salaries and better job opportunities for many workers. You may find that your income growth outpaces home prices, making homeownership more affordable for you in the future.

For homeowners, the outlook's even brighter. You could find yourself sitting on a nice pile of equity. Contact us for a free home value assessment to find out.

INVENTORY REMAINS EXTREMELY LOW

As noted, one of the largest hurdles to homeownership is a lack of inventory. According to a February 2022 report by Realtor.com, there's an expanding gap between household formation and home construction, which has resulted in a nationwide shortage of 5.8 million housing units.¹¹

The origins of this shortage date back to the 2008 housing crisis, during which crashing home values led contractors to stop building new properties—a trend that has not been fully reversed.¹²

That decline in home construction also resulted in a decrease in the number of home building professionals, a trend that was exacerbated by job losses during the COVID-19 pandemic. Now, many builders are limited by their ability to find qualified labor.

Another major challenge is a staggering increase in the cost of materials. Pandemic-related supply chain shortages have been a significant driver, with home building material costs rising on average 20% on a year-over-year basis. The price of framing lumber alone has tripled since August 2021.¹³

These trends add tens of thousands of dollars to the cost of a typical home. Factors like a lack of buildable land in many areas, restrictive zoning, and a shortage of developers are also contributing to the issue.¹⁴

Most home buying experts agree that the lack of inventory is the primary factor driving rising housing prices and unprecedented competition for homes. With available housing units near four-decade lows, the end of the current housing boom is not yet in sight.¹⁵

What does it mean for you?

Prospective buyers should be prepared to compete for a home since low inventory can lead to multiple offers. You may also need to expand your search parameters. If you're ready to look, we're ready to help.

For sellers, the picture is rosier. In this strong market, your home may be worth more than you realize. Contact us to find out how much your home could sell for in today's market.

WE'RE HERE TO GUIDE YOU

While national real estate trends can provide a "big picture" outlook, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home values in your particular neighborhood.

If you're considering buying or selling a home, contact us now to schedule a free consultation. We can help you assess your options and make the most of this unique real estate landscape.

Sources:

1. Marketwatch - https://www.marketwatch.com/picks/home-price-appreciation-will-normalize-what-5-economists-and-real-estate-pros-predict-will-happen-to-home-prices-in-2022-01646940841
2. Bankrate -
   https://www.bankrate.com/mortgages/mortgage-rate-forecast
3. CNBC -
   https://www.cnbc.com/2022/04/16/heres-how-much-the-same-mortgage-costs-now-compared-to-last-year.html
4. Fortune -
   https://fortune.com/2022/03/23/housing-market-interest-rate-economic-shock/
5. National Association of Realtors -
   https://www.nar.realtor/blogs/economists-outlook/instant-reaction-mortgage-rates-april-07-2022
6. Fortune -
   https://fortune.com/2022/03/16/home-prices-2022-2023-bank-of-america-forecast-mortgage-rates/
7. Fortune -
   https://fortune.com/2022/03/07/what-home-prices-will-look-like-2023-fannie-mae/
8. Fortune -
   https://fortune.com/2022/03/17/home-prices-drop-housing-markets-california-michigan-massachusetts-corelogic/
9. CNN -
   https://www.cnn.com/2022/03/23/success/us-national-rent-february/index.html
10. MarketWatch -
    https://www.marketwatch.com/story/home-prices-increase-at-one-of-the-fastest-rates-on-record-but-higher-mortgage-rates-should-slow-future-growth-11648559497
11. com -
    https://www.realtor.com/research/us-housing-supply-gap-expands/
12. NPR -
    https://www.npr.org/2022/03/29/1089174630/housing-shortage-new-home-construction-supply-chain
13. Investopedia -
    https://www.investopedia.com/housing-market-dips-in-early-march-2022-5222449
14. NPR -
    https://www.npr.org/2022/03/29/1089174630/housing-shortage-new-home-construction-supply-chain

Fortune -
https://fortune.com/2022/03/14/housing-market-key-metric-inventory-zillow-bad-for-buyers/

National Chocolate Ice Cream Day is June 7th, and for those of us with a sweet tooth, we can't wait! There are so many wonderful places to grab a delicious cone, sundae, or milkshake in Stark and Summit counties that it's impossible to choose just one. Instead, our real estate agents have put together a list of six favorites.

1. Almost Heaven Ice Cream — 6590 Middlebranch Ave. NE, Canton, OH 44721
   With award-winning chocolate, butter pecan, strawberry, and vanilla ice cream, this lovely little shop near Canton homes for sale is a must-visit. Almost Heaven Ice Cream features more than two dozen ice cream flavors along with sundaes, banana splits, milkshakes, ice cream sandwiches, and so much more. If you want something extra special, order one of their dippy twisters, made with either dairy-free vanilla ice cream or frozen yogurt vanilla mixed with your choice of delicious fruit.
   
   
2. Handel's Homemade Ice Cream — 2191 E. Maple St., North Canton, OH 44720 / 7212 Fulton Dr. NW, Canton, OH 44718
   Baskin Robbins stands aside because your 32 flavors are nothing compared to Handel's Homemade Ice Cream. This popular shop near North Canton homes for sale has been around since 1945 and features more than 100 ice cream flavors, which means there's always something for every person to enjoy. Their high level of quality began with Alice Handel's homemade ice cream that she made using fresh fruit from her backyard garden, and that commitment continues to this day.
   
   
3. Cherry Street Creamery — 136 Cherry St. W, Canal Fulton, OH 44614
   The family-owned Cherry Street Creamery has tons of ice cream flavors, milkshakes, sweet treats, and various food items. Every Monday, they kick off the week by posting a special, freshly made "mustard" flavor on their Facebook page. This wonderful shop near many Canal Fulton homes for sale is open from mid-March to October each year, so be sure to get down there when you get a chance and enjoy one of their tasty offerings while you can.
   
   
4. Mak's Munchies N More — 7232 Portage St. NW, Massillon, OH 44646
   This deli and ice cream shop close to Massillon homes for sale is the perfect place for family and friends to find everything they need for a wonderful lunch or quick snack. In addition to several different flavors of ice cream - including chocolate, of course - you'll find grilled cheese sandwiches, burgers, hot dogs, salads, and many other wonderful treats. Stop by Mak's Munchies N More for a quick bite, and you'll want to return time and time again.
   
   
5. Papa Roni's Pizza & Ice Cream — 68 W. State St., Barberton, OH 44203
   Although it's only been around for a little over 10 years, Papa Roni's Pizza & Ice Cream has made a huge impact in the area. In addition to chocolate, chewy chocolate, chocolate chip cookie dough, and mint chocolate chip, you'll find a variety of ice cream flavors, including their Superman special, a blend of lemon, cherry, and blue raspberry. Pick up a pizza and ice cream for a perfect lunch or dinner.
   
   
6. Taggart's Ice Cream — 1401 Fulton Rd. NW, Canton, OH 44703
   It's hard to believe that this Canton landmark has been around since 1926, but ask any resident and they probably have a story about visiting there as a youngster. Taggart's Ice Cream features wrought-iron ice cream parlor chairs, high-backed booths, and wood/tile floors that harken back to the classic soda fountain days. Not only will you get a taste of nostalgia, but you can dig into burgers, hot dogs, soups, chicken strips, and several other food favorites.

Contact us to view homes for sale in Stark and Summit counties. We can help you find your new dream home!

Color is the easiest way to inject your personality into any North Canton home for sale. Interior painting can be a messy project, but there are some tricks get the job done quicker and cleaner. Explore the top interior painting tips from our real estate agents below.

• Take Time to Pick Your Colors
  You have limitless color choices to choose from for your project. Lighter options make rooms feel spacious and airy, while bolder hues re-energize the décor. You can mix bold and lighter colors to create contrast and highlight accent pieces, art, and other accessories.
  
  Keep in mind that interior colors look different at various times of the day as natural and artificial lighting changes. So, prop poster boards with different colors choices against your walls to pick the right hues.
  
  
• Buy High-Quality Painting Supplies
  High-quality roller covers and brushes offer excellent coverage, while good painter's tape is your best bet in sealing out drips and blurs. If you use cheap brushes, you will likely see bristles falling into the paint, and the result will look shoddy. High-quality paint is also vital for a smooth finish.
  
  
• Prep Work Is Essential
  Before you paint a room, remove any obstructions that prevent you from moving around freely. For example, move large living room furniture to the center and protect them with drop cloths. Empty each room you will be painting as much as possible for an easier process.
  
  The next step is removing any hardware from the walls, such as curtain rods, switch plates, outlet covers, pictures, and hooks for towels. Then, thoroughly clean the walls as paint easily peels off dirty and oily surfaces. Fill in cracks and holes and sand the surface to create a smooth working area.
  
  
• Apply Primer
  You get a blotchy finish if you paint directly over the patched sections. This occurs because the joint compound used to fill in holes on the walls absorbs the paint's moisture, resulting in a dull and flat look. Also, these spots appear significantly different from the rest of the wall.
  
  So, prime the wall to get a smooth finish. Most professionals tint white primer with a little gray hue or the finish paint color. Using tinted primer results in a more vibrant finish, and you will likely need fewer coats to get the desired look.
  
  
• Combine Paint Gallons
  Disparities in color occur from one can to the next, and the difference may be apparent if you open a new container as you paint a wall. So, estimate the quantity of paint you require and pour it into a 5-gallon bucket. Then, stir the entire batch to ensure uniformity.
  
  
• Paint the Trim, Ceiling, and Walls in Order
  Taping off the trim is easier than taping off the wall, so professionals start painting the trim and then the ceiling. Don't worry about perfection as you paint the trim, as you can cover spilled paint when you paint the walls. Also, sand the trim between coats to get a smooth texture.
  
  You may be tempted to cut in all the room corners before going back to roll the paint for an easier time. However, this method leads to a blotchy finish. Professionals achieve a seamless finish in Akron homes for sale by cutting in one wall and quickly rolling on the paint to prevent the cut-in sections from drying out.
  
  
• Protect the Floor With Canvas Drop Cloths
  Old bed sheets and plastic drop cloths do little to prevent paint splatters from seeping into the floor. Instead, use thick canvas drop cloths as they stay in place and are sufficiently durable to last a lifetime. Clean spills with cloth rags and paper towels as soon as they occur.

Your new home is a color away from being the perfect haven. Contact us today to explore our real estate services.

As the weather warms up, it's the perfect time to head out on a family bike ride. Stark County has plenty of excellent parks with trails that cover forested areas, urban locations, and suburban sites.

Our real estate agents recommend the following trails in Stark County when you're ready to spend part of your day taking a family bike ride in area parks.

• Quail Hollow Park - 13480 Congress Lake Ave., Hartville, OH 44632
  Quail Hollow Park has over 700 acres of rolling meadows, marshes, and wooded areas, plus a 40-room house that's available for tours when you're ready to take a break from biking. Located near Hartville homes for sale, it's a popular destination for mountain bikers since it has a 3.3-mile mountain bike loop trail that's suitable for beginning or intermediate riders. It's a nicely wooded trail with very little slope or rocks and is marked with arrows to show you which direction to go.
  
  
• Stark Electric Railway Trail - Mahoning Road NE, Canton, OH 44705
  If you'd like a ride on an urban trail, head to the Stark Electric Railway Trail, which follows the route of the former rail line of the same name. The line ran from 1902 to 1939, linking Canton and Salem via Louisville, Alliance, and Sebring before closing due to the growing popularity of buses, which were cheaper to operate. The trail, which is located near Canton homes for sale, is a little over one mile in length and is lined with ginkgo, honey locust, and other varieties of trees.
  
  
• Congressman Ralph Regula Towpath Trail Park - 7975 Erie Ave. NW, Canal Fulton 44614
  With 14 trailheads, the Congressman Ralph Regula Towpath Trail Park, located just around the corner from Canal Fulton homes for sale, has plenty of spots where you can start a family bike ride. The entire trail is 26 miles long and is on flat terrain, with trees providing plenty of shade. The trail follows the historic route of the Ohio & Erie Canal, and you'll be able to still see the canal bed visible in many areas. If you bike in the Canal Fulton area, you'll find that the canal has been preserved, and you can ride a replica canal boat during the spring and summer.
  
  
• Pioneer Trail - 2600 Harvard Ave. NW, Canton, OH 44709 
  Pioneer Trail is a short 1.34-mile route that connects Market Avenue to Cleveland Avenue near Canton homes for sale. It has several inclines and declines, as well as a surface of crushed limestone. Part of the trail takes you through Harvard Park and its grassy fields and then Weis Park, which has volleyball and shuffleboard courts if you'd like to take time out to play.
  
  
• Hoover Trail - Hoover Community Recreational Complex, 1325 E. Maple St., North Canton, OH 44720
  A suburban trail that's almost 5.5 miles long and situated near North Canton homes for sale, Hoover Trail connects Washington Square, Walsh University's Hoover Park, North Canton's baseball fields, Hoover High School, and the Hoover District. It's part of the planned Ohio to Erie Trail, a route intended to span from Cleveland to Cincinnati. You may be able to spot wildlife such as hawks and other types of birds, foxes, groundhogs, and more. You'll also see wildflower and berry bushes along the way. One of the trail's interesting features is a bridge for biking and walking that spans over the Old 3C Highway.

Contact us if you'd like to see homes for sale in Stark County. Many are close to beautiful parks and trails, and we'd love to help you find the best one for you. 

Spring is here and spending time outdoors tops the list of things to do. Some people look forward to hiking their favorite trails or picnics in the park, while others enjoy relaxing in their backyard. If you prefer the comforts of home, our real estate agents recommend sprucing up your backyard with some beautiful patio plants.

Backyard patios and decks are ideal for potted plants. In Akron homes for sale, you can change out flowering plants to extend spring blooms well into the fall season. When temperatures start to drop, replace blooms with hardy greenery that will survive winter weather. To create a beautiful patio year-round, all you need is the right plants and decorative containers.

Choosing the Right Patio Plants

When choosing patio plants, consider how much maintenance they require. Some plants require daily watering, regular trimming, and deadheading of spent flowers to encourage more blooms. Before investing in plants, make sure they are suited to your gardening needs. Some easy-care patio plants to consider include:

• Geraniums – These cheerful annuals come in a variety of vibrant colors that will add beauty to your patio. Geraniums last all summer and into early fall, even if you forget to water them for several days.

• Lantana – This flower can be invasive in the garden, but it's easy to contain in pots. Lantana is a hardy plant that's hard to kill. It grows well in the sun and produces blooms with pretty multicolored flowers.

• Marigolds – A big pot of marigolds will add color to your patio. Marigolds are easy to maintain and repel insects that may get on other plants, but they require deadheading to produce new blooms.

• Ferns – In North Canton homes for sale with shady backyards, ferns are a great choice since they thrive in the shade. You'll find a variety of ferns that range in size, texture, and color for stunning visual interest.

• Caladiums – Another shade lover, these plants produce colorful heart-shaped leaves. As tubers, they spread nicely and are mostly carefree. They don't have showy flowers but definitely brighten up shady spots.

• Herbs – If you have a sunny patio, herbs planted in pots will thrive. Basil, lavender, mint, oregano, rosemary, sage, and thyme grow well with sun and regular watering. Enjoy wonderful smells and use the herbs in your kitchen.

• Vines – Potato vine (jasmine nightshade) is an easy vine to grow without much maintenance. It's often used as a patio plant because it produces pretty little white or purple flowers that add soft, relaxing color to an outdoor setting.

Choosing Containers

For healthy patio plants, it's important to choose the right size containers with adequate drainage. According to garden experts, plants in pots dry out more quickly, so they need adequate water and good potting soil. Water should be checked daily, and potting soil should be good quality organic potting soil with an organic compost mixed into the soil.

When purchasing containers, make sure pots have ample room for plant growth. Consider the container's size and height on your patio so you don't block views of the backyard. Large pots are good for marking patio boundaries, delineating different patio areas, and providing privacy, but they are hard to move around. Small decorative pots with bright colors and interesting textures make good accents on patios that need a boost in design appeal, and they're very easy to move around.

If you're thinking about buying or selling a home in Stark and Summit counties, contact us for information on available properties and prices in areas of interest.

If you're treating yourself to lunch out, don't just grab something unhealthy from the drive-thru at a chain restaurant. Take time to refuel at one of North Canton's many eateries that put their own delicious spin on healthy lunches. You'll have plenty of menu options to choose from and will be able to have a healthy, relaxing break before moving on to the rest of your day.

Our real estate agents suggest eating at the following healthy lunch stops around North Canton.

• BAM! Healthy Cuisine - 2185 E. Maple St., North Canton, OH 44718 and 7160 Fulton Dr. NW, Canton, OH 44718
  BAM! Healthy Cuisine aims to combine nutritious with delicious by making everything served as fresh as possible. The lettuce, for example, is grown in Ohio and cut by hand. Nothing is from a bag, and tortillas are made in-house. The restaurant has the salads and power bowls that you might expect to see on a healthy menu, but you'll also find pizza, wraps, and sandwiches that taste great while being made with healthy ingredients. And if you're in the mood for something sweet, grab a guilt-free treat from the cooler.
  
  
• Thatsa Wrapp Shack - 7944 Cleveland Ave. NW, North Canton, OH 44720
  Thatsa Wrapp Shack specializes in inventive wraps and salads prepared fresh in-house daily. They're also known for their specialty housemade chips and desserts. Try the Cherry Almond Wrapp, loaded with grilled chicken, mozzarella, lettuce, red onion, dried cherries, almonds, and balsamic vinaigrette. Or, if you're in the mood for a salad, go for the To The Chopper, which has garbanzo beans, cucumber, red onion, feta, tomato, red pepper, and lemon caper dressing. And if you're a vegetarian, you'll also find several meatless options on the menu.
  
  
• Aladdin's Eatery - 6698 Strip Ave. NW, North Canton, OH 44720
  At Aladdin's Eatery, Lebanese-American foods take center stage. This cuisine, in addition to being flavorful, is quite healthy. Staples of Lebanese food include olive oil, nuts, vegetables, and lean meats, and instead of heavy, unhealthy sauces, herbs and spices are used to enhance the flavor of food. Dishes are free from sulfites and preservatives and fit in well with several different eating plans. Over 40 dishes are vegetarian, 30 are vegan, and 40 are gluten-free, so if you have specific dietary needs, you'll have plenty of dishes to choose from. Start with a delicious appetizer like falafel or hummus before selecting an entree like pita pizzas. And don't forget to treat yourself to a refreshing option from a variety of healthy smoothies, raw juices, and natural herbal teas.
  
  
• Twisted Citrus - 1649 N. Main St., North Canton, OH 44720
  You'll be able to enjoy breakfast and lunch dishes on the menu at Twisted Citrus, a colorfully decorated daytime eatery that, true to its name, serves dishes with a twist. Try a Southwest BBQ Salad for lunch, with your choice of grilled chicken or fried veggie nuggets diced and tossed in BBQ sauce. It's served over a tasty bed of iceberg mix, red peppers, tomatoes, fire-roasted corn, black beans, and diced avocado and topped with the restaurant's housemade jalapeno vinaigrette. You can also build your own chicken sandwich or burger, including a Beyond Burger that's vegan and plant-based.

If you're ready to start looking at North Canton homes for sale, contact us today. Our agents have years of experience and are dedicated to making your real estate transaction a smooth one. 

It's always lovely when schedules line up perfectly. But, the reality is that when it comes to real estate transactions, there's likely to be a slight lag between the day you buy the home and the day you can move in. You may sell your home before you find a new home, may need to wait until the seller can move into their new home, or wait while the renovation company completes any necessary repairs or upgrades. Or, you may want to wait until you find the best deal on a house that fits within your budget. Our real estate agents know there are plenty of reasons you may need to rent a home, and we advise all clients to carefully think over the possibility of living in a short-term rental before moving into their new home.

• Hot Markets May Cool Off
  One of the biggest reasons homeowners sell their homes and rent is that the real estate market is still red hot. While prices for North Canton homes for sale are cooling down and stabilizing, they aren't dropping. Many homeowners who sold their homes made tidy profits and have chosen to invest those profits and rent until housing cools down. The market may cool, and prices could fall in the next couple of years. But rent could go up as rental properties become scarce. This means that any savings gained could easily be lost in the form of increased rental costs.
  
  
• Watch Out for Mortgage Rates
  Inflation is going up, far above anything the country has seen since the early 1980s. This means that the Fed is strongly considering raising interest rates to throw some water on the fire before it burns through everyone's savings. Interest rates will likely rise this year, which means that waiting to buy a home could end up costing you more in the long run.
  
  
• Sellers and Landlords Have the Upper Hand
  It's a seller's market right now, and many homes continue to sell well above the listing price. At the same time, rental inventories are down, and eviction moratoriums have come to an end across most of the country. This means that landlords can command premium prices for rental property. They can also require tenants to sign long-term leases and easily walk away from short-term options. As a result, if you plan to rent, you may end up renting for longer than you want. Thus, if you do intend to keep your eye on Akron homes for sale, we recommend signing a lease that gives you the option of subletting the property so that you can move out and minimize your losses when you find the home you want.

We invite you to contact us to learn more about the best strategy for your specific situation. We're happy to answer your questions and help guide you in the right direction to move into your new home at a time and price that's most convenient for you.

You've just purchased a new home from among North Canton homes for sale, and you're undoubtedly eager to pick out curtains, paint colors, and new furniture. But first, you should be aware of potential problems and how to avoid or at least prepare for them. Our real estate agents share how you can be ready for the following issues.

• Plumbing Problems
  Clogged pipes, burst pipes, and leaky pipes can cause significant damage to your home and property. This is why we strongly recommend a comprehensive plumbing inspection and maintenance visit with a certified plumber before you move in. This creates a thorough assessment of the plumbing and establishes a relationship with a plumber you can call should a plumbing problem emerge down the road.

• Electrical Problems
  If you purchase any of the many older Akron homes for sale, be sure to complete a comprehensive electrical inspection. Wiring and fixtures wear out over time, and you'll want to confirm the systems in your home are in good repair. You will also want to make sure that you have good candles, flashlights, batteries, and better still, a backup power generator for an electrical outage. Generators are ideal because they can ensure your lights, security systems, refrigerator, freezer, etc., continue to operate until the power is restored.

• Fire Hazards
  Fire safety is always a top priority. Ensure that your home has fire alarms in the bedrooms, kitchen, garage, laundry room, and hallways. Additionally, it's a good idea to position an ABC fire extinguisher in each of these areas. Finally, be sure to change your batteries at regular intervals, conduct fire drills with your family, and recharge your fire extinguishers when they expire.

• Roof Problems
  Make sure that you have extra roofing materials, tarps, nails, and a few pieces of plywood handy. Should a storm blow shingles off or a windstorm knock a tree branch through the roof, this will help you temporarily repair the damage until a professional roofing contractor can perform a permanent repair. 

• Furnace Failure/Water Heater Failure
  Your furnace and water heater are the hardest-working appliances in your home. Most furnaces last 12-15 years, while most water heaters last between 10-12 years. Make sure to keep (and change) air filters regularly, stay on top of the manufacturer's maintenance requirements, and it won't hurt to enroll in a maintenance plan provided by a local, trusted HVAC service provider. 

• Security Problems
  Security is a priority you can't ignore. Installing a home security system with remote monitoring capabilities will help you keep an eye on the home while you're away. It's also a good idea to install at least one smart lock on the home so that you can access it via a code or through your smartphone to get inside even if a member of your family loses their key.

• Cold Weather and Pests
  Freezing weather, raccoons, birds, insects, and other pests can infiltrate your home via cracks in masonry, gaps in insulation, or open crawl spaces. Sealing these gaps with caulk, weather stripping, insulation, etc., will protect your home from the weather and from pests eager to enjoy a free meal and a new nest. 

We encourage you to contact us to learn more about the steps we recommend new homeowners take to protect their homes from the most common threats and hazards.  

Planning a wedding is both exciting and a big undertaking. If you're waiting for the perfect time to get started, then we have some good news. March 1 is National Wedding Planning Day! This is a great opportunity to start wedding dress shopping if you're newly engaged. Our real estate agents have some awesome bridal shops to recommend around Stark and Summit counties. 

• Abbot's Bridal: 1280 S. Main St., North Canton, OH 44720
  If you're looking at North Canton homes for sale, then Abbot's Bridal is a convenient place to stop while you're in the area. They are a full-service bridal boutique, offering dresses from several designers, along with alteration services. Shoppers can find dresses in a wide range of prices as well as sizes. Abbot's Bridal requires appointments on Saturdays. They're open for walk-ins on Monday - Friday, although appointments are still recommended for the best service.
  
  
• Elyse's Boutique Bridal & Prom: 767 E. Turkeyfoot Lake Rd., Akron, OH 44319
  Elyse's Boutique Bridal & Prom is a good place to start your dress search if you're looking at Akron homes for sale. They offer a wide range of gowns for immediate purchase, so you don't need to wait months for a dress to be custom-made. They carry sizes 0-18 in-store. Designers include DaVinci Bridal, Mary's Bridal, and Richard Designs. Elyse's Boutique often has discounted sample dresses available, too. They're open Monday - Saturday, and you must schedule an appointment beforehand. 
  
  
• The Flawless Bride: 90 Shiawassee Ave., Fairlawn, OH 44333
  The Flawless Bride is a plus-size bridal boutique offering sizes 16-32+. Many Fairlawn homes for sale are just minutes away, making this a convenient place to stop. Their consultants will help you find a dress that helps you feel beautiful, confident, and 100% yourself. Consultations last about an hour and are available by appointment only. At The Flawless Bride, consultants can also help you find the perfect shoes and accessories. All dresses are made to order and can take 4-6 months to ship from the designer, so plan ahead. 
  
  
• KR Bridal and Tailoring: 2044 Front St., Cuyahoga Falls, OH 44221
  KR Bridal and Tailoring is a modern bridal boutique that also carries mother of the bride dresses, bridesmaid dresses, and less-traditional wedding dresses. If you're looking for something edgy, Bohemian, or truly contemporary, this is the place to go. You can book a Bridal Consultation Appointment online at KR Bridal's website. They offer gowns at a wide range of price points and also in-house alterations. Make sure you stop to look at some Cuyahoga Falls homes for sale when you're in the area, too.
  
  
• David's Bridal: 3265 W. Market St., Suite 296B, Fairlawn, OH 44333
  David's Bridal is a bridal store located on the first floor of the Summit Mall. With various locations across the country, they can offer a wide selection of bridal and bridesmaid dresses at affordable prices. They do alterations in-house, and they have a good selection of cocktail-style and shorter wedding dresses. David's Bridal does allow walk-ins to browse the dress and accessory options, but if you want to try on dresses, you'll need to book an appointment ahead of time. 

You may not get all of your wedding dress shopping done on National Wedding Planning Day, but you can still get out there and get started. Visit some of the shops above, and get a better idea of what you're looking for in a dress. Should you happen to be looking for a home in the area, too, contact us to learn more about our services.

Since ancient times, wine has been a significant element in religious and social traditions for cultures around the world. Join our real estate agents in celebrating National Drink Wine Day on Friday, February 18 with a toast at one of these popular wine bars near North Canton homes for sale. 

• Vinoteca Wine Bar - 4921 Hills and Dales Rd., Canton, OH 44708
  Vinoteca Wine Bar is just down the street from Canton homes for sale, but the sophisticated yet comfortable ambiance is truly a result of global influence. Husband-and-wife owners Sash and Rekha Parbhoo are from Johannesburg, South Africa, and Birmingham, England, respectively. On most nights, Sash and Rekha themselves will make recommendations and pour samples for you. Vinoteca has no on-site kitchen, but deliveries from neighboring restaurants are welcome. Hours are noon - 6 p.m. Tuesday and Wednesday, noon - 9:30 p.m. Thursday, and 11:30 a.m. - 11:30 p.m. Friday and Saturday.
  
  
• The Crush House - 1700 55th St. NE, Canton, OH 44721
  No need to trek out to the countryside to visit a first-rate winery. The Crush House is part of Gervasi Vineyard, a stunning 55-acre winery resort only 10 minutes from downtown Canton. Located in a contemporary industrial-chic building, The Crush House is an award-winning wine bar where you can sample, drink, and take home Gervasi products. As if that wasn't enough, The Crush House serves a full menu of Italian-influenced cuisine such as crostatas, goat cheese ravioli, and grilled chicken piadas. The Crush House is open Monday through Thursday from 11:30 a.m. - 9 p.m. and Friday and Saturday from 11:30 a.m. - 10 p.m.
  
  
• Grapes in a Glass - 575 Market Ave. N., Canton, OH 44702
  With a name like Grapes in a Glass, you know exactly what to expect at this upscale wine bar. Sommeliers hand-select the more than 70 wines offered by the glass or in wine flights, so you can indulge in your favorite or try a new variety. The menu of small plates, such as charcuterie boards and shrimp tacos, makes the perfect accompaniment. Test your performing chops on Thursday open mic nights, or sit back and enjoy the live music on weekends. Bring Fido along for a visit on the outdoor patio. Hours are 4 - 10 p.m. Thursday and 4 p.m. - midnight Friday and Saturday. 
  
  
• Huth & Harris Wine Merchants - 427 Tuscarawas St. E., Canton, OH 44702
  Planning a date night or celebration? The elegance and first-class service at Huth & Harris Wine Merchants make every event a special one. H2 provides a fine dining menu to go with their outstanding selection of wine. Make the night complete by purchasing a bottle of your favorite to take home. Doors open at 5 p.m. Thursday through Saturday, and reservations are required.
   
• The Barrel Room - 7901 Cleveland Ave. NW, North Canton, OH 44720
  In 2012, Keri Sullivan made some extra money picking up one shift a week as a server at The Barrel Room. By 2014, Keri had grown to love the place so much that she joined a partnership to buy it, becoming sole owner the following year. While wine is still the main focus, Keri has expanded the offerings to include craft beer and high-end spirits. Food includes a menu of light snacks along with a rotating line-up of food trucks. Hours are 4 - 11 p.m. Tuesday, 4 p.m. - midnight Wednesday and Thursday, 3 p.m. - 1 a.m. Friday, and 4 p.m. - 1 a.m. Saturday.

Ready to celebrate buying or selling a home in North Canton? Contact us at DeHOFF REALTORS® to learn more.

Are you into music? Whether your child is learning to play a musical instrument, you're a dedicated musician yourself, or you simply love to listen, North Canton has a nice variety of music shops you'll want to visit.

Our real estate agents recommend the following music shops around North Canton.

Stark County

• Pellegrino Music & Lesson Center - 5040 Everhard Rd. NW, Canton, OH 44718
  Located in the Belden Village area near North Canton homes for sale, Pellegrino Music & Lesson Center has served the area's music needs for 51 years. The family-owned and operated business offers nearly everything related to music, including the sale and rental of music instruments, music lessons, sheet music, and sound system design and installation. The shop also repairs musical instruments and prides itself on top-level quality and service.
  
  
• Gattuso's Music & More - 1300 Market Ave. N., Canton, OH 44714
  Gattuso's Music & More has earned a loyal following after 80 years in business, providing high-quality new, used, and vintage musical gear as well as rentals. They'll meet or beat any price, and since the store is staffed by knowledgeable musicians, you'll get the help and advice you need. And if your band needs some online exposure, the store has a stage available for live streaming. They'll handle the tech, so you need only provide the show.
  
  
• The Music Farm - 4900 Whipple Ave. NW, Canton, OH 44718  
  The Music Farm is an interesting name for a store, and it's meant to reflect the shop's mission of helping customers grow their passion for music. Order online if you'd like, or come into the store, located just around the corner from Canton homes for sale, and choose from a wide variety of products ranging from vintage folk instruments to new professional audio equipment. With over 80 years of combined experience, their helpful staff will ensure you get the right instrument.

Summit County

• Time Traveler Records - 118 W. Market St., Akron, OH 44303
  Despite competition from internet stores, online auction sites, and streaming services, Time Traveler Records in downtown Akron has continued to survive and even thrive. In fact, it's one of the oldest original record stores in the country and has grown to attract customers from throughout the U.S. If vinyl's your thing, you'll find a massive amount of used as well as new. If you love CDs, you'll be able to choose from thousands of new, used, vintage, rare, and out-of-print discs.
  
  
• Replay Music - 636 Canton Rd., Akron, OH 44312
  Replay Music is a popular destination if you're looking to find musical instruments and accessories as well as lighting and PA systems. You can also take vocal and instrumental lessons through the shop and even start training to become a recording engineer. Primetime Studio, Replay Music's recording studio, is professionally designed and acoustically tuned and is conveniently located next door to the store and just around the corner from Akron homes for sale. 
  
  
• A Max Music - 1084 E. Tallmadge Ave., Akron, OH 44310  
  A fixture in the Akron business and music community for 75 years, A Max Music has musical instruments and equipment of all kinds. New and used products are available, and they're backed by a free warranty. If you need help, many staff members have degrees in music and/or professional music and sound experience. In addition to more commonly found instruments, the shop also has ukuleles, banjos, mandolins, and harps for sale. 

Contact us if you're ready to buy or sell real estate. Our experienced and knowledgeable agents are happy to help you have a smooth transaction. 

Our real estate agents know it's never too early to get your home ready for market. If your plans for 2022 include moving to a new home in the spring, now is the right time to put a plan together so that your home is ready to go when you're ready to make your move. You can take the following steps now to ensure the process isn't overwhelming later.

• Go Easy On the Cosmetic Upgrades
  It's a seller's market, so you don't have to spend a lot of money to attract an offer. While you can still paint the walls of the main living areas and bedrooms a neutral color, you can skip the installation of pricey appliances, new windows, etc.

• ...But Clean Thoroughly
  While you don't have to undertake any major renovations, you will want to give the home a professional cleaning. Have the carpets steam cleaned, scrub bathrooms and kitchens, clean out the garage, and make sure the windows are crystal clear. It's also a good idea to make sure the air within the home is regularly refreshed.

• Start Packing Up Personal Items
  Before you paint, pack up any family pictures and bric-a-brac cluttering your home. This will declutter the home and help personalize it, making it easier for prospective buyers to imagine their photos and artwork on the walls. Further, declutter the closets, basement, garage, etc., by removing their contents and placing them in your new home or a self-storage facility. This has the added benefit of helping buyers get a true feel for how much storage space is in the home.

• Keep An Active Eye On Property You Want to Purchase
  Start looking at new homes well before you are ready to list your home. If you are financially able to purchase a home you are interested in before your current home sells, do so. This will help ease some pressure and give you the flexibility to wait for the best offer.

• Price Your Home Strategically
  The more time you spend looking at listings in the area, the better feel you will have for what your home is worth. Keep a close eye on similar North Canton homes for sale and Akron homes for sale. This will help you price your home to align with buyer expectations and current market conditions. Your real estate agent will also be invaluable in helping to set the right price for your home.

• Limit Access
  Supply is low, and demand is high. By limiting showings and availability to view the home, you will create a sense of exclusivity to your home. Like fine wines and fancy purses, the more exclusive the home feels, the more interested buyers will be to own it.

• Prepare For a Bidding War
  Current market activity means that you will likely receive multiple offers shortly after listing your home. Work closely with your real estate agent to map out a strategy for navigating a bidding war. Be sure to factor in price, prequalification, down payment, contingencies, concessions, etc. The more planning you put into this, the more likely you will secure the most advantageous offer.

Contact us when you are ready to prepare your home for the market. We will help guide you through the process and help you secure the best offer for your home.

Is Now a Good Time to Buy or Sell Real Estate?

Traditionally, spring is one of the busiest times of the year for real estate. However, the coronavirus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put their moving plans on hold. In April, new listings fell nearly 45%, and sales volume fell 15% compared to last year.¹

Fortunately, as restrictions have eased, we've seen an uptick in market activity. And economists at Realtor.com expect a rebound in July, August, and September, as fears about the pandemic subside, and buyers return to the market with pent-up demand from a lost spring season.²

But given safety concerns and the current economic climate, is it prudent to jump back into the real estate market?

Before you decide, it's important to consider where the housing market is headed, how it could impact your timeline and ability to buy a home, and your own individual needs and circumstances.

WHAT'S AHEAD FOR THE HOUSING MARKET?

The economic aftermath of the coronavirus outbreak has been severe. We've seen record  unemployment numbers, and economists believe the country is headed toward a recession. But people still need a place to live. So what effect will these factors have on the housing market?

Home Values Projected to Remain Stable

Many Americans recall our last recession and assume we will see another drop in home values. But the 2008 real estate market crash was the cause—not the result—of that downturn. In fact, ATTOM Data Solutions analyzed real estate prices during the last five recessions and found that home prices actually went up in most cases. Only twice (in 1990 and 2008) did prices fall, and in 1990 it was by less than one percent.³

Many economists expect home values to remain relatively steady this time around. And so far, that's been the case. As of mid-May, the median listing price in the U.S. was up 1.4% from the same period last year.⁴

Demand for Homes Will Exceed Available Supply

There's been a shortage of affordable homes on the market for years, and the pandemic has further hindered supply. In addition to sellers pulling back, new home starts fell 22% in March.⁵ In fact, Fannie Mae doesn't foresee a return to pre-pandemic construction levels before the end of 2021.⁶

This supply shortage is expected to prop up home prices, despite recessionary pressures. Fannie Mae and the National Association of Realtors predict housing prices will rise slightly this year⁷, while Zillow expects them to fall between 2-3%.⁸ Still, that would be a far cry from the double-digit declines that occurred during the last recession.⁹

Government Intervention Will Help Stabilize the Market

Policymakers have been quick to pass legislation aimed at preventing a surge in foreclosures like we saw in 2008. The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress gives government-backed mortgage holders who were impacted by the pandemic up to a year of reduced or delayed payments.¹⁰

The Federal Reserve has also taken measures to help stabilize the housing market, lower borrowing costs, and inject liquidity into the mortgage industry. These steps have led to record-low mortgage rates that should help drive buyer demand and make homeownership more affordable for millions of Americans.¹¹

HOW HAS THE REAL ESTATE PROCESS CHANGED?

As the pandemic hit, real estate and mortgage professionals across the country revised their processes to adapt to shifting safety standards and economic realities. While these new ways of conducting business may seem strange at first, keep in mind, military clients, international buyers, and others have utilized many of these methods to buy and sell homes for years.

New Safety Procedures

The safety of our clients and our team members is our top priority. That's why we've developed a process for buyers and sellers that utilizes technology to minimize personal contact.

For our listings, we're holding online open houses, offering virtual viewings, and conducting walk-through video tours. We're also using video chat to qualify interested buyers before we book in-person showings. This enables us to promote your property to a broad audience while limiting physical foot traffic to only serious buyers.

Likewise, our buyer clients can view properties online and take virtual video tours to minimize the number of homes they step inside. Ready to visit a property in person? We can decrease surface contact by asking the seller to turn on all the lights and open doors and cabinets before your scheduled showing.

The majority of our "paperwork" is also digital. In fact, many of the legal and financial documents involved in buying and selling a home went online years ago. You can safely view and eSign contracts from your smartphone or computer.

Longer Timelines and Higher Mortgage Standards

The real estate process is taking a little longer these days. Both buyers and sellers are more cautious when it comes to viewing and showing homes. And with fewer house hunters and less available inventory, it can take more time to match a buyer with the right property.

In a recent survey, 67% of Realtors also reported delays in the closing process. The top reasons were financing and buyer job loss, but appraisals and home inspections are also taking more time due to shifting safety protocol.¹²

Securing a mortgage may take longer, too. With forbearance requests rising, lenders are getting increasingly conservative when it comes to issuing new loans. Many are raising their standards—requiring higher credit scores and larger down payments. Prepare for greater scrutiny, and build in some extra time to shop around.¹³

IS IT THE RIGHT TIME FOR ME TO MAKE A MOVE?

The reality is, there's no "one size fits all" answer as to whether it's a good time to buy or sell a home because everyone's circumstances are unique. But now that you know the state of the market and what you can expect as you shop for real estate, consider the following questions:

Why do you want or need to move?

It's important to consider why you want to move and if your needs may shift over the next year. For example, if you need a larger home for your growing family, your space constraints aren't likely to go away. In fact, they could be amplified as you spend more time at home.

However, if you're planning a move to be closer to your office, consider whether your commute could change. Some companies are rethinking their office dynamics and may encourage their employees to work remotely on a permanent basis.

How urgently do you need to complete your move?

If you have a new baby on the way or want to be settled before schools open in the fall, we recommend that you begin aggressively searching as soon as possible. With fewer homes on the market and a lengthier closing process, it's taking longer than usual for clients to find and purchase a home.

However, if your timeline is flexible, you may be well-positioned to score a deal. We're seeing more highly-incentivized sellers who are willing to negotiate on terms and price. Talk to us about setting up a search so we can keep an eye out for any bargains that pop up. And get pre-qualified for a mortgage now so you'll be ready to act quickly.

If you're eager to sell this year, now is the time to begin prepping your home for the market. A second wave of infections is predicted for the winter, which could mean another lockdown.¹⁴ If you wait, you might miss your window of opportunity.

How long do you plan to stay in your new home?

The U.S. real estate market has enjoyed steady appreciation since 2012, which made it fairly easy for owners and investors to buy and sell properties for a profit in a short period of time. However, with home values expected to remain relatively flat over the next year, your best bet is to buy a home you can envision yourself keeping for several years. Fortunately, at today's rock-bottom mortgage rates, you can lock in a low interest rate and start building equity right away.

Can you meet today's higher standards for securing a mortgage?

Mortgage lenders are tightening their standards in response to the growing number of mortgage forbearance requests. Many have raised their minimum credit score and downpayment requirements for applicants. Even if you've been pre-qualified in the past, you should contact your lender to find out if you meet their new, more stringent standards.

Is your income stable?

If there's a good chance you could lose your job, you may be better off waiting to buy a home. The exception would be if you're planning to downsize. Moving to a less expensive home could allow you to tap into your home equity or cut down on your monthly expenses.

WHEN YOU'RE READY TO MOVE—WE'RE READY TO HELP

While uncertain market conditions may give pause to some buyers and sellers, they can actually present an opportunity for those who are willing, able, and motivated to make a move.

Your average spring season would be flooded with real estate activity. But right now, only motivated players are out in the market. That means that if you're looking to buy, you're in a better position to negotiate a great price. And today's record-low mortgage rates could give a big boost to your purchasing power. In fact, if you've been priced out of the market before, this may be the perfect time to look.

If you're hoping to sell this year, you'll have fewer listings to compete against in your neighborhood and price range. But you'll want to act quickly. Economists expect a surge of eager buyers to enter the market in July—so you should start prepping your home now. And keep in mind, a second wave of coronavirus cases could be coming in this winter. Ask yourself how you will feel if you have to face another lockdown in your current home.

Let's schedule a free virtual consultation to discuss your individual needs and circumstances. We can help you assess your options and create a plan that makes you feel both comfortable and confident during these unprecedented times.

The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.

Sources:

1. Forbes - https://www.forbes.com/sites/ellenparis/2020/05/08/latest-housing-market-update-from-realtorcom/#20bf7829113e
2. HousingWire -
   https://www.housingwire.com/articles/realtor-com-housing-market-will-bounce-back-this-year-but-the-rebound-will-be-short-lived/
3. Curbed -
   https://www.curbed.com/2019/1/10/18139601/recession-impact-housing-market-interest-rates
4. com -
   https://www.realtor.com/research/weekly-housing-trends-view-data-week-may-9-2020/
5. com -
   https://money.com/coronavirus-real-estate-home-prices/
6. Fannie Mae -
   https://www.fanniemae.com/resources/file/research/emma/pdf/Housing_Forecast_051320.pdf
7. HousingWire -
   https://www.housingwire.com/articles/pending-home-sales-tumble-on-covid-19-shock/
8. HousingWire -
   https://www.housingwire.com/articles/zillow-predicts-small-home-price-drop-through-rest-of-2020/
9. Federal Reserve Bank of St. Louis -
   https://fred.stlouisfed.org/series/CSUSHPINSA
10. Consumer Financial Protection Bureau -
    https://www.consumerfinance.gov/coronavirus/cares-act-mortgage-forbearance-what-you-need-know/
11. Bankrate -
    https://www.bankrate.com/mortgages/federal-reserve-and-mortgage-rates
12. National Association of Realtors -
    https://www.nar.realtor/sites/default/files/documents/2020-05-11-nar-flash-survey-economic-pulse-05-14-2020.pdf
13. Forbes -
    https://www.forbes.com/sites/alyyale/2020/04/17/buying-a-home-during-the-pandemic-dont-expect-your-everyday-home-purchase/#fadad3d33b0c
14. Washington Post -
    https://www.washingtonpost.com/health/2020/04/21/coronavirus-secondwave-cdcdirector/

Since the outbreak of the novel coronavirus (COVID-19), many of us are spending a lot more time at home. We're all being called upon to avoid public spaces and practice social distancing to help slow the spread of this infectious disease. While it can be understandably challenging, there are ways you can modify your home and your lifestyle to make the best of this difficult situation.

Here are a few tips for creating comfortable and functional spaces within your home for work, school, and fitness. We also share some of our favorite ways to stay connected as a community, because we're all in this together … and no one should face these trying times alone.

Begin with the Basics

A basic home emergency preparedness kit is a great addition to any home, even under normal circumstances. It should include items like water, non-perishable food, a flashlight, first aid kit, and other essentials you would need should you temporarily lose access to food, water, or electricity.

Fortunately, authorities don't anticipate any serious interruptions to utilities or the food supply during this outbreak. However, it may be a good time to start gathering your emergency basics in a designated location, so you'll be prepared now-—and in the future—should your family ever need them.

Working From Home

Many employees are being asked to work remotely. If you're transitioning to a home office for the first time, it's important to create a designated space for work … so it doesn't creep into your home life, and vice versa. If you live in a small condominium or apartment, this may feel impossible. But try to find a quiet corner where you can set up a desk and comfortable chair. The simple act of separating your home and work spaces can help you focus during work hours and "turn off" at the end of the day.

Of course, if you have children who are home with you all day (given many schools and daycares are now closed), separating your home and work life will be more difficult. Unless you have a partner who can serve as the primary caregiver, you will need to help manage the needs of your children while juggling work and virtual meetings.

If both parents are working from home, try alternating shifts, so you each have a designated time to work and to parent. If that's not an option, experts recommend creating a schedule for your children, so they know when you're available to play, and when you need to work.¹ A red stop sign on the door can help remind them when you shouldn't be disturbed. And for young children, blocking off a specific time each day for them to nap or have independent screen time can give you a window to schedule conference calls or work uninterrupted.

Homeschooling Your Children

Many parents with school-aged children will be taking on a new challenge: homeschooling. Similar to a home office, designating a space for learning activities can help your child transition between play and school. If you're working from home, the homeschooling area would ideally be located near your workspace, so you can offer assistance and answer questions, as needed.

If possible, dedicate a desk or table where your child's work can be spread out—and left out when they break for meals and snacks. Position supplies and materials nearby so they are independently accessible, and place a trash can and recycling bin within reach for easy cleanup. A washable, plastic tablecloth can help transition an academic space into an arts and crafts area.

 If the weather is nice, try studying outside! A porch swing is a perfect spot for reading, and gardening in the backyard is a great addition to any science curriculum.

In addition to creating an academic learning environment, find age-appropriate opportunities for your children to help with household chores and meal preparation. Homeschooling advocates emphasize the importance of developing life skills alongside academic ones.² And with more meals and activities taking place at home, there will be ample opportunity for every family member to pitch in and help.

Staying Fit

With gyms closed and team sports canceled, it can be tempting to sit on the sofa and binge Netflix. However, maintaining the physical health and mental wellness of you and your family is crucial right now. Implementing a regular exercise routine at home can help with both.

If you live in a community where you can safely exercise outdoors while maintaining the recommended distance between you and other residents, try to get out as much as possible. If the weather is nice, go for family walks, jogs, or bike rides.

Can't get outside? Fortunately, you don't need a home gym or fancy exercise equipment to stay fit. Look for a suitable space in your home, garage, or basement where you can comfortably move—you'll probably need at least a 6' x 6' area for each person. Many cardio and strength training exercises require little (or no) equipment, including jumping jacks, lunges, and pushups.

And if you prefer a guided workout, search for free exercise videos on YouTube—there are even options specifically geared towards kids—or try one of the many fitness apps available.

Socializing From a Distance

Even though we're all being called upon to practice "social distancing" right now, there are still ways to stay safely connected to our communities and our extended families. Picking up the phone is a great place to start. Make an effort to reach out to neighbors and loved ones who live alone and may be feeling particularly isolated right now.

And while parties and playdates may be prohibited, modern technology offers countless ways to organize networked gatherings with family and friends. Try using group video conferencing tools like Google Hangouts and Zoom to facilitate a virtual happy hour or book club. Host a Netflix Party to watch (and chat about) movies with friends. Or plan a virtual game night and challenge your pals to a round of Psych or Yahtzee.

There are safe ways to connect offline, too. Rediscover the lost art of letter writing. Drop off groceries on an elderly neighbor's porch. Or organize a neighborhood "chalk walk," where children use sidewalk chalk to decorate their driveways and then head out for a stroll to view their friends' artwork.

Of course, there's one group of people who you can still socialize with freely—those who reside in your home. Family dinners are back, siblings are reconnecting, and many of us have been given the gift of time, with commutes, activities, and obligations eliminated. In fact, some families are finding that this crisis has brought them closer than ever.

YOU ARE NOT ALONE

Even with all of the tools and technology available to keep us connected, many of us are still feeling stressed, scared, and isolated. However, you can rest assured that you are not alone. We're not only here to help you buy and sell real estate. We want to be a resource to our clients and community through good times and bad. If you and your family are in need of assistance, please reach out and let us know how we can help.

Sources:

1. CNBC -
   https://www.cnbc.com/2020/03/16/how-to-work-from-home-with-your-kids-during-the-coronavirus-outbreak.html

TheHomeSchoolMom.com -
https://www.thehomeschoolmom.com/benefits-of-homeschooling-2/

We're in the midst of the longest economic expansion in U.S. history, and economists think there's still room to grow. A recent survey by the National Association for Business Economics found that experts believe the U.S. economy will remain positive throughout 2020.¹

Still, given that recessions are a natural (and necessary) part of a business cycle, we know this period of growth will inevitably end. So you may be wondering … how will an eventual recession impact the real estate market?

Many Americans assume a recession would lead to a decline in housing prices like we saw during the Great Recession of 2008. But the real estate market crash we experienced wasn't typical. In fact, the last recession wasn't typical at all. It was the worst economic downturn since the Great Depression of the 1930s.

ATTOM Data Solutions analyzed real estate prices during the last five recessions and found that, in the majority of cases, home prices actually went up. Only twice (in 1990 and 2008) did prices decline, and in 1990 it was by less than one percent.²

So what can historical precedent—combined with today's data—tell us about the future of real estate? Here's where experts predict the housing market is headed in 2020 and beyond.

HOME PRICES WILL KEEP RISING

Economists predict U.S. housing prices will continue to rise, regardless of a recession. In fact, property data firm CoreLogic forecasts a faster rate of growth for home prices in 2020 than we saw in 2019, with the biggest gains at the lower end of the market.³

Arch MI Chief Economist Ralph DeFranco expects entry-level home prices to increase faster than incomes this year, making it even more difficult for many first-time buyers to afford to enter the market.⁴

"Low interest rates and a shortage of starter homes will continue to push up prices," predicts DeFranco. "This is especially the case for lower price points, since builders have tended to focus on more expensive, higher-profit houses and less on replenishing low inventories of entry-level homes."⁴

"Real estate is on firm ground with little chance of price declines," said National Association of Realtors Chief Economist Lawrence Yun. "However, in order for the market to be healthier, more supply is needed to assure home prices as well as rents do not consistently outgrow income gains."⁵

What does it mean for you? If you have the ability and desire to buy a home now, don't let a fear of recession or falling prices hold you in limbo. Economists expect home values, as well as rent prices, to continue rising. So you'll likely pay more the longer you wait.

INVENTORY CONSTRAINTS WILL CONTINUE

According to Redfin, Americans are staying in their homes longer. In 2019, the average homeowner had resided in their home for 13 years, up from just eight years in 2010. That means there are fewer homes available today for those who want to buy.⁶

It's possible that an increase in new construction could offer some relief. The National Association of Realtors (NAR) expects single-family housing starts to total one million this year, the highest level since 2007. And NAR Chief Economist Lawrence Yun predicts the average price of new construction will decline slightly as builders shift to building smaller, more affordable homes.⁷

However, these efforts may not be enough to meet current demand. "Despite improvements to new construction and short waves of sellers, next year will once again fail to bring a solution to the inventory shortage," predicts Realtor.com Senior Economist George Ratiu. "In 2020, we expect inventory to struggle to grow and could instead reach a historic low level."⁸

What does it mean for you? If you're looking to buy a starter home, be prepared to compete for the best listings. Start your search early, and if you're up against a deadline (like a new baby), build in plenty of time to find the right home. We can help you assess your options, including new construction and up-and-coming developments.

MORTGAGE RATES WILL REMAIN LOW

Mortgage rates have declined more than a full percentage point since November 2018, when they hit a recent peak of 4.94%.⁹ The Mortgage Bankers Association predicts rates will remain low, at around 3.7%, through mid-2021.¹⁰

While it may not seem significant, on a $200,000 30-year fixed-rate mortgage, that lower rate means buyers could save around $145 on their monthly payment and more than $52,000 over the life of their mortgage. Lower mortgage rates make homeownership more accessible and affordable for buyers.

Although economists expect mortgage rates to stay low, they caution against waiting to act. Economic factors, shifts in supply and demand, or unforeseen impacts of the November election could cause rates to rise unexpectedly. "We recommend borrowers with long-term plans of staying in their homes to lock in a low rate now because there's no telling how long these low rates will last," warns Preetam Purohit, a capital markets trader at Embrace Home Loans.¹¹

What does it mean for you? If you're looking to buy a home, act soon to lock in a historically low mortgage rate. It will minimize your monthly payment and could save you a bundle over the long term. And if you plan to stay in your current home for a while, consider whether it makes sense to refinance your mortgage at today's lower rates.

MILLENNIALS WILL DRIVE THE MARKET

Millennials are expected to account for more than half of all mortgages this year, outnumbering Generation X and Baby Boomers combined. It's not surprising, considering their age and stage of life. In 2020, the largest cohort of millennials will turn 30, and the oldest millennials will turn 39.⁸

"Family changes tend to drive home-buying decisions," explains Realtor.com Chief Economist Danielle Hale. "Millennials are going to be active in the housing market not just because they're just at the age when they're thinking about becoming first-time home buyers, but they're also in the age range when they're having kids."¹²

Younger millennials flocked to urban centers that offered easy access to work, shopping, and restaurants. But high prices, lack of square footage, and subpar schools are driving millennials out to the suburbs as they begin to marry and expand their families.

In response, a new model for suburban living has emerged. "Hipsturbias," or mixed-use communities that bring the live/work/play concept to the suburbs, were recently named one of the top real estate trends for 2020 by the Urban Land Institute.⁴

What does it mean for you? If you're a millennial who has been priced out of urban living or is looking for more space for your growing family, a number of suburbs in our area have a lot to offer. We can point you towards the communities that will best meet your needs. And if you're a homeowner with plans to sell, give us a call. We know how to market your home to millennials … and can help you sell quickly for top dollar by appealing to this leading market segment!

WE'RE HERE TO GUIDE YOU

While national real estate numbers can provide a "big picture" outlook, real estate is local. As local market experts, we can guide you through the ins and outs of our market and the issues most likely to impact sales and home values in your particular neighborhood.

If you're considering buying or selling a home in 2020, contact us now to schedule a free consultation. We'll work with you to develop an action plan to meet your real estate goals this year.

Sources:

1. NBC News -
   https://www.nbcnews.com/business/economy/what-impending-recession-new-survey-shows-most-people-think-they-n1098511
2. Curbed -
   https://www.curbed.com/2019/1/10/18139601/recession-impact-housing-market-interest-rates
3. HousingWire -
   https://www.housingwire.com/articles/corelogic-expects-home-prices-to-do-this-in-the-next-12-months/
4. Forbes -
   https://www.forbes.com/sites/alyyale/2019/11/15/2020-housing-outlook-expert-predictions-for-mortgage-rates-home-prices-tech-and-more/#343ea4522935
5. National Association of Realtors -
   https://www.nar.realtor/newsroom/expect-continued-economic-growth-slower-real-estate-price-gains-and-small-chance-for-recession-in
6. Redfin -
   https://www.redfin.com/blog/homeowners-staying-in-their-homes-longer/
7. HousingWire -
   https://www.housingwire.com/articles/builders-are-coming-to-the-housing-markets-rescue/
8. com -
   https://www.realtor.com/research/2020-national-housing-forecast/
9. YCharts -
   https://ycharts.com/indicators/30_year_mortgage_rate
10. MBA Mortgage Market Forecast November 2019 -
    https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary
11. Dallas Morning News -
    https://www.dallasnews.com/sponsored/real-estate/2019/11/23/experts-predict-where-mortgage-interest-rates-land-in-2020/

Realtor.com -
https://www.realtor.com/news/trends/biggest-changes-coming-in-2020-real-estate-and-tips-for-buyers-and-sellers/

We're in the midst of the longest economic expansion in U.S. history, and economists think there's still room to grow. A recent survey by the National Association for Business Economics found that experts believe the U.S. economy will remain positive throughout 2020.¹

Still, given that recessions are a natural (and necessary) part of a business cycle, we know this period of growth will inevitably end. So you may be wondering … how will an eventual recession impact the real estate market?

Many Americans assume a recession would lead to a decline in housing prices like we saw during the Great Recession of 2008. But the real estate market crash we experienced wasn't typical. In fact, the last recession wasn't typical at all. It was the worst economic downturn since the Great Depression of the 1930s.

ATTOM Data Solutions analyzed real estate prices during the last five recessions and found that, in the majority of cases, home prices actually went up. Only twice (in 1990 and 2008) did prices decline, and in 1990 it was by less than one percent.²

So what can historical precedent—combined with today's data—tell us about the future of real estate? Here's where experts predict the housing market is headed in 2020 and beyond.

HOME PRICES WILL KEEP RISING

Economists predict U.S. housing prices will continue to rise, regardless of a recession. In fact, property data firm CoreLogic forecasts a faster rate of growth for home prices in 2020 than we saw in 2019, with the biggest gains at the lower end of the market.³

Arch MI Chief Economist Ralph DeFranco expects entry-level home prices to increase faster than incomes this year, making it even more difficult for many first-time buyers to afford to enter the market.⁴

"Low interest rates and a shortage of starter homes will continue to push up prices," predicts DeFranco. "This is especially the case for lower price points, since builders have tended to focus on more expensive, higher-profit houses and less on replenishing low inventories of entry-level homes."⁴

"Real estate is on firm ground with little chance of price declines," said National Association of Realtors Chief Economist Lawrence Yun. "However, in order for the market to be healthier, more supply is needed to assure home prices as well as rents do not consistently outgrow income gains."⁵

What does it mean for you? If you have the ability and desire to buy a home now, don't let a fear of recession or falling prices hold you in limbo. Economists expect home values, as well as rent prices, to continue rising. So you'll likely pay more the longer you wait.

INVENTORY CONSTRAINTS WILL CONTINUE

According to Redfin, Americans are staying in their homes longer. In 2019, the average homeowner had resided in their home for 13 years, up from just eight years in 2010. That means there are fewer homes available today for those who want to buy.⁶

It's possible that an increase in new construction could offer some relief. The National Association of Realtors (NAR) expects single-family housing starts to total one million this year, the highest level since 2007. And NAR Chief Economist Lawrence Yun predicts the average price of new construction will decline slightly as builders shift to building smaller, more affordable homes.⁷

However, these efforts may not be enough to meet current demand. "Despite improvements to new construction and short waves of sellers, next year will once again fail to bring a solution to the inventory shortage," predicts Realtor.com Senior Economist George Ratiu. "In 2020, we expect inventory to struggle to grow and could instead reach a historic low level."⁸

What does it mean for you? If you're looking to buy a starter home, be prepared to compete for the best listings. Start your search early, and if you're up against a deadline (like a new baby), build in plenty of time to find the right home. We can help you assess your options, including new construction and up-and-coming developments.

MORTGAGE RATES WILL REMAIN LOW

Mortgage rates have declined more than a full percentage point since November 2018, when they hit a recent peak of 4.94%.⁹ The Mortgage Bankers Association predicts rates will remain low, at around 3.7%, through mid-2021.¹⁰

While it may not seem significant, on a $200,000 30-year fixed-rate mortgage, that lower rate means buyers could save around $145 on their monthly payment and more than $52,000 over the life of their mortgage. Lower mortgage rates make homeownership more accessible and affordable for buyers.

Although economists expect mortgage rates to stay low, they caution against waiting to act. Economic factors, shifts in supply and demand, or unforeseen impacts of the November election could cause rates to rise unexpectedly. "We recommend borrowers with long-term plans of staying in their homes to lock in a low rate now because there's no telling how long these low rates will last," warns Preetam Purohit, a capital markets trader at Embrace Home Loans.¹¹

What does it mean for you? If you're looking to buy a home, act soon to lock in a historically low mortgage rate. It will minimize your monthly payment and could save you a bundle over the long term. And if you plan to stay in your current home for a while, consider whether it makes sense to refinance your mortgage at today's lower rates.

MILLENNIALS WILL DRIVE THE MARKET

Millennials are expected to account for more than half of all mortgages this year, outnumbering Generation X and Baby Boomers combined. It's not surprising, considering their age and stage of life. In 2020, the largest cohort of millennials will turn 30, and the oldest millennials will turn 39.⁸

"Family changes tend to drive home-buying decisions," explains Realtor.com Chief Economist Danielle Hale. "Millennials are going to be active in the housing market not just because they're just at the age when they're thinking about becoming first-time home buyers, but they're also in the age range when they're having kids."¹²

Younger millennials flocked to urban centers that offered easy access to work, shopping, and restaurants. But high prices, lack of square footage, and subpar schools are driving millennials out to the suburbs as they begin to marry and expand their families.

In response, a new model for suburban living has emerged. "Hipsturbias," or mixed-use communities that bring the live/work/play concept to the suburbs, were recently named one of the top real estate trends for 2020 by the Urban Land Institute.⁴

What does it mean for you? If you're a millennial who has been priced out of urban living or is looking for more space for your growing family, a number of suburbs in our area have a lot to offer. We can point you towards the communities that will best meet your needs. And if you're a homeowner with plans to sell, give us a call. We know how to market your home to millennials … and can help you sell quickly for top dollar by appealing to this leading market segment!

WE'RE HERE TO GUIDE YOU

While national real estate numbers can provide a "big picture" outlook, real estate is local. As local market experts, we can guide you through the ins and outs of our market and the issues most likely to impact sales and home values in your particular neighborhood.

If you're considering buying or selling a home in 2020, contact us now to schedule a free consultation. We'll work with you to develop an action plan to meet your real estate goals this year.

Sources:

1. NBC News -
   https://www.nbcnews.com/business/economy/what-impending-recession-new-survey-shows-most-people-think-they-n1098511
2. Curbed -
   https://www.curbed.com/2019/1/10/18139601/recession-impact-housing-market-interest-rates
3. HousingWire -
   https://www.housingwire.com/articles/corelogic-expects-home-prices-to-do-this-in-the-next-12-months/
4. Forbes -
   https://www.forbes.com/sites/alyyale/2019/11/15/2020-housing-outlook-expert-predictions-for-mortgage-rates-home-prices-tech-and-more/#343ea4522935
5. National Association of Realtors -
   https://www.nar.realtor/newsroom/expect-continued-economic-growth-slower-real-estate-price-gains-and-small-chance-for-recession-in
6. Redfin -
   https://www.redfin.com/blog/homeowners-staying-in-their-homes-longer/
7. HousingWire -
   https://www.housingwire.com/articles/builders-are-coming-to-the-housing-markets-rescue/
8. com -
   https://www.realtor.com/research/2020-national-housing-forecast/
9. YCharts -
   https://ycharts.com/indicators/30_year_mortgage_rate
10. MBA Mortgage Market Forecast November 2019 -
    https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary
11. Dallas Morning News -
    https://www.dallasnews.com/sponsored/real-estate/2019/11/23/experts-predict-where-mortgage-interest-rates-land-in-2020/
12. com -
    https://www.realtor.com/news/trends/biggest-changes-coming-in-2020-real-estate-and-tips-for-buyers-and-sellers/

Are you searching for new and innovative gift ideas this holiday season? If so, check out our list of the hottest home technology offerings. We've selected a few of our favorites for every room in the house.

These smart systems and devices add comfort, convenience, and a "cool factor" that will delight your friends and family.  So think about who you know that loves the latest gadgets … or add a few of these to your own wish list!

ENTRYWAY

Ensure the safety of your loved ones with these smart security upgrades.

Smart Lighting

Ring, a company best known for its video doorbells, has added smart lights to its series of integrated devices. The Ring Smart Light System includes motion sensors, pathlights, spotlights, and even step lights, which can be turned on and off using voice commands when paired with an Amazon Alexa device. Users may opt to receive a notification when motion is detected on the premises, and—if integrated with Ring security cameras—access a live video stream for an added layer of security. Systems start at $69.99.

Video Doorbell

Video doorbells have become an increasingly popular security enhancement for homes, and for a good reason. Homeowners can detect activity at their front door while away, view visitors via video stream, and communicate without opening the door. Since Ring released its first smart doorbell in 2013, a number of competitors have entered the market. The Nest Hello Video Doorbell has some unique features—like facial recognition, package detection, and pre-recorded quick responses—that place it near the top of the pack. Retails for $229.

Smart Lock

Smart locks are a great way to ensure your friends and family are never left out in the cold, and the August Smart Lock Pro+ Connect is among the most highly rated. It's one of the easiest models to install because it pairs with an existing deadbolt. The Smart Lock Pro enables a user to lock and unlock their door remotely with an app on their phone. And with the auto-lock/unlock feature, it can be set to open automatically upon approach and relock after entry. Retails for $279.

LIVING ROOM

These fun and functional gifts are perfect for anyone who is big on style—but short on time.

Automated Planter

Caring for household plants is easier than ever with the latest advancements in technology. Perfect for frequent travelers or forgetful friends, the Dewplanter uses moisture in the air to water plants without manual intervention. Now nature lovers can enjoy the beauty and health benefits of houseplants without the hassle. Plus, for each unit sold, the company pledges to plant a tree somewhere it's needed. Retails for $69.50.

Smart Art

Instead of buying your favorite art lover a single painting, why not give him or her 30,000? With the Meural Canvas, you can access an extensive collection of artwork from around the world to display digitally in your own home. Meural utilizes proprietary technology to deliver an anti-glare matte display that automatically adjusts to the lighting in the room. Personal artwork and photographs can be showcased, as well. Retails for $445 with annual membership.

Motorized Shades

Motorized window coverings aren't new, but a lower price point and enhanced features have helped to boost their popularity. The latest Motorized Shades from Somfy can be preprogrammed to raise or lower at certain times of day or controlled on-demand via a remote, smartphone app, or voice command when paired with Amazon Alexa or Google Home. They can also be set to operate automatically in response to the amount of sunlight or temperature of the room. Contact a dealer for pricing.

KITCHEN

These kitchen gadgets make life a little easier and a lot more enjoyable. They're perfect for your busiest friends and family members!

Pressure Cooker

Have you jumped on the multi-cooker bandwagon yet? If so, you know how fast and simple these multifunctional appliances make meal preparation. The InstantPot Duo is a pressure cooker, sauté pan, steamer, slow cooker, rice cooker, food warmer, and yogurt maker all-in-one. It reduces cooking time and lowers energy consumption. Who wouldn't love one of these versatile tools? With numerous cookbooks and blogs devoted to InstantPot recipes, the meal options are virtually endless. Retails for $99.95.

Cocktail Machine

Cocktail connoisseurs will appreciate the ease and convenience of the Bartesian Premium Cocktail Machine. Listed among "Oprah's Favorite Things" for 2019, the Bartesian mixes drinks with the touch of a button. Simply fill the canisters with base spirits, choose a cocktail capsule, and the machine does the rest. Now you can mix a margarita, whiskey sour, cosmopolitan, and other favorites as easily as you brew a cup of coffee. Retails for $349.

Smart Refrigerator

Kitchens are often called the "heart of the home," and a new refrigerator from Samsung aims to be the hub. The Samsung Family Hub Refrigerator helps busy families stay organized. Grocery shopping becomes a breeze with built-in cameras that allow owners to peek inside their fridge from anywhere. The interactive touchscreen displays pictures, notes, and reminders for family members. And the integrated SmartThings app enables users to control smart devices and appliances from a central point. Base model starts at $3,099.

BEDROOM

Almost nothing beats a good night's sleep. Help your loved ones wake up refreshed with these smart devices for the bedroom.

Baby Sleep Soother

As any parent knows, when your baby isn't getting sleep, neither are you. Help everyone in the family catch some z's with a Bubzi Co Soothing Owl. This cuddly creature plays lullabies while projecting a starry scene on the bedroom wall to calm young children and help them drift off to sleep. And for every purchase, Bubzi Co makes a donation to Postpartum Support International. Retails for $30.95.

Sunrise Alarm Clock

Know someone who hates getting up in the morning? Alarm clocks that utilize light instead of a noisy alarm can provide a more peaceful transition in and out of sleep. The Philips SmartSleep Connected Sleep and Wake-Up Light includes customizable sunrise and sunset simulation, guided breathing exercises, and sensors that track room conditions, like temperature, humidity, noise, and light. Retails for $199.95.

Smart Thermostat

Temperature fluctuations during the night can disrupt sleep. The Nest Learning Thermostat uses smart technology to track a user's preferences and build a schedule around them. Homeowners can place one of its integrated sensors in their bedroom to maintain a consistent temperature throughout the night. And Nest thermostats cut energy consumption, so they'll rest easier knowing they're saving the planet and money on utility bills . Retails for $249.

BATHROOM

Bathrooms don't have to be boring. Technology can add flair to the daily routine.

Waterproof Speaker

Music enthusiasts and podcast fans will enjoy streaming their favorites in the shower with a wireless waterproof speaker. The Ultimate Ears Wonderboom 2 is a mid-priced and versatile option that can go from the bath to the beach. It packs an impressive 13-hour battery life in a small, portable case that's waterproof, dust-proof, and floatable. Retails for $99.99.

Digital Smart Scale

A scale isn't an appropriate gift for everyone, but diet and fitness enthusiasts may appreciate the high-tech features available with the Withings Body+. It tracks weight, body water, and fat, muscle, and bone mass for up to eight users. It can also be set to display local weather and the previous day's step count. Customized pregnancy and baby modes make this a suitable choice for a growing family, as well. Retails for $99.95.

Vanity TV Mirror

For a truly luxe bathroom addition, consider an integrated vanity television mirror. The Seura TV Mirror seamlessly incorporates video into a bathroom vanity. It's vanishing glass technology makes it possible to view the television through a mirror. When turned off, the screen completely disappears. Add lighting or a custom frame to complete the look. Starts at $3,099 for a 19" display.

OUR GIFT TO YOU

Are you considering a permanent technology upgrade for your own home? Give us a call first! Buyer expectations and preferences vary depending on price point, architectural style, and neighborhood. We can help you determine how the enhancement will impact the value of your home before you make the investment.

5 Steps to Finding Your Next Home

Whether you're a first-time buyer or a seasoned homeowner, shopping for a new home can feel daunting. In fact, 56% of buyers said that "finding the right property" was the most difficult step in the home buying process.¹

Buying a home is a significant commitment of both time and money. And a home purchase has the power to improve both your current quality of life and your future financial security, so the stakes are high.

Follow these five steps—and complete the corresponding worksheet offered below—to assess your priorities, streamline your search, and choose your next home with confidence.

STEP 1: Set Your Goals and Priorities

The first step to finding your ideal home is determining WHY you want to move. Do you need more space? Access to better schools? Less maintenance? Or are you tired of throwing money away on rent when you could be building equity? Pinpointing the reasons why you want to move can help you assess your priorities for your home search. 

Don't forget to think about how your circumstances might change over the next few years. Do you expect to switch jobs? Have more children? Get a pet? A good rule of thumb is to choose a house that will meet your family's needs for at least the next five to seven years.² Be sure to set your goals accordingly.

STEP 2: Determine Your Budget

Many financial professionals recommend following the "28/36 Rule" to determine how much you can afford to spend on a home. The rule states that you should spend no more than 28% of your gross monthly income on housing expenses (e.g., mortgage, taxes, insurance) and a maximum of 36% of your gross monthly income on your total debt obligations (i.e., housing expenses PLUS any other debt obligations, like car loans, student loans, credit card debt, etc.).³

Of course, the 28/36 rule only provides a rough guideline. Getting pre-qualified or pre-approved for a mortgage BEFORE you begin shopping for homes will give you a much more accurate idea of how much you can borrow. Add your pre-approved mortgage amount to your downpayment to find out your maximum purchasing potential.

STEP 3: Choose a Location

When it comes to real estate, WHERE you choose to buy is just as important as WHAT you choose to buy.

Do you prefer a rural, urban, or suburban setting? How long of a commute are you willing to make? Which neighborhoods feed into your favorite schools? These decisions will impact your day-to-day life while you live in the home.

Another important factor to consider is how the area is likely to appreciate over time. Choosing the right neighborhood can raise the profit potential of your home when it comes time to sell. Look for communities that are well maintained with high home-ownership rates, low crime rates, and access to good schools, desired retail establishments, and top employers.⁴

STEP 4: Decide Which Features You Need (and Want) in a Home

Start with the basics, like your ideal number of bedrooms, bathrooms, and square footage. Do you prefer a one-story or two-story layout? Do you want a swimming pool?

Keep in mind, you may not find a home with all of your "wants," or even all of your "needs" … at least not at a price you can afford. The reality is, most of us have to make a few compromises when it comes to buying a home.

Some buyers will opt for a longer commute to get a larger, newer home in the suburbs. Others will sacrifice hardwood floors or an updated kitchen so that their kids can attend their desired school. 

If you're faced with a tough choice about how or what to compromise in your home search, return to STEP 1. What were your original goals and motivations for moving? Reminding yourself of your true priorities can often provide the clarity that you need.

STEP 5: Meet with a Real Estate Agent

A good real estate agent can remove much of the stress and uncertainty from the home search process. From setting goals to securing a loan to selecting the best neighborhood to meet your needs, we will be there to assist you every step of the way.

And no one has more access to home listings, past sales data, or market statistics than a professional agent. We can set up a customized search that alerts you as soon as a new listing you might like goes live. Better yet, we get notified about many of the hottest homes even BEFORE they hit the market.

You might guess that the VIP service we provide is very expensive. Well, the good news is, we can represent you throughout the entire home buying process at NO COST to you. It's true; the home seller pays a buyer agent's fee at closing. So you can benefit from our time, experience, and expertise without paying a dime. It's no wonder 87% of buyers choose to purchase their home with the help of an agent.¹

And although we've listed it here as STEP 5, the reality is, it's never too early (or too late) to contact an agent about buying a home. Whether you plan to buy today, next month, or next year, there are steps you can (and should) be taking to prepare for your purchase.

Call us today to schedule a free consultation!

The above references an opinion and is for informational purposes only.  It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.

Sources:

1. NAR 2019 Home Buyers & Sellers Generational Trends Report – https://www.nar.realtor/sites/default/files/documents/2019-home-buyers-and-sellers-generational-trends-report-08-16-2019.pdf
2. Architectural Digest – https://www.architecturaldigest.com/story/this-is-how-long-you-should-live-in-your-house-before-selling-it
3. Investopedia – https://www.investopedia.com/terms/t/twenty-eight-thirty-six-rule.asp
4. Money Talks News – https://www.moneytalksnews.com/20-clues-youre-buying-home-the-right-neighborhood/

Everything You Need to Know About iBuyers
and the "Instant Cash Offer"

Technology is changing the way we do almost everything, and real estate transactions are no exception. In fact, a new crop of tech companies wants to revolutionize the way we buy and sell homes.

iBuyer startups like Opendoor, Offerpad, and Properly are rapidly expanding into new territories, and now established players, like Zillow, are starting to get in on the action. Also known as Direct Buyers, these companies use computer algorithms to provide sellers with a quick cash offer to buy their home.

While the actual market share of iBuyers remains small, their big advertising budgets have helped create a noticeable buzz in the industry. This has left many of our clients curious about them and how they work.

In this article, we explain their business model, weigh the pros and cons of working with an iBuyer, and share strategies you can use to protect yourself if you choose to explore this new option to buy or sell your home.

FIRST, HOW DOES THE iBUYER PROCESS WORK?

While each company operates a little differently, the basic premise is the same. A seller (or seller's agent) completes a brief online form that asks questions about the size, features, and condition of the property. Some also request digital photos of the home.

The iBuyer will use this information to determine whether or not the home fits within their "buy box," or set of criteria that matches their investment model. They are generally looking for houses they can easily value and "flip." In most cases, their ideal property is a moderately priced, single-family home located in a neighborhood with many similar houses. The property shouldn't require any major renovations before listing.¹ These qualities make it easier to assess value (lots of comparable sales data) and help to reduce risk and minimize carrying costs.

Once the iBuyer has used their algorithm to determine the amount they are willing to pay, they will email an offer to the seller, usually within a few days. The offer should also disclose the company's service fee, which is typically between 7% and 12% of the purchase price.²

If the seller accepts, an in-person visit and inspection are scheduled. The iBuyer will ask for a reduction in price to cover any defects they find during the process. Once the sale closes, they will make the necessary updates and repairs and then resell the home on the open market.

WHAT ARE THE PROS AND CONS OF SELLING TO AN iBUYER?

Of course, the biggest benefit of selling your home to an iBuyer is convenience. For some homeowners, the stress and disruption of preparing and listing their home can feel overwhelming. And what busy family with kids and pets wouldn't want to skip the hassle of keeping their house "show ready" for potential buyers? Additionally, many sellers like the predictability of a cash buyer and the flexibility to choose their closing date.

However, this added convenience does come at a cost. An iBuyer is an investor looking to make a profit. So their purchase offer is usually below true market value. When you tack on service fees of up to 12% and deductions for updates and repairs, studies show that sellers who work with iBuyers net a lower amount than those that list the traditional way.³

In fact, a MarketWatch investigation found that transactions involving iBuyers net the seller 11% less than if they would have sold their home with an agent on the open market.²

WHAT ARE THE PROS AND CONS OF BUYING FROM AN iBUYER?

Buying a home from an iBuyer is a lot like buying a home from any investor. The pros are that it's usually clean, neutral, and moderately updated. You'll often find fresh paint and modern finishes. And because it's uninhabited (no one is living there), you don't have to work around a seller's schedule to see the home.

However, there are some pitfalls to avoid when working with iBuyers. Speed is of the essence, so sometimes the renovations are rushed and the quality can suffer. Also, their investment margins don't leave much room for negotiating a price reduction or additional repairs. That leaves buyers —who have already invested hundreds of dollars in an inspection—little recourse if any issues are uncovered.⁴

That's one of the reasons we always recommend viewing properties with an agent. During your visit, a real estate professional can point out any "red flags" at the home, provide background information about the neighborhood, and help you assess its true market value. That way, you don't invest time and money in a high-risk or overpriced property. Safety is also a concern. Some companies allow buyers to access their homes via a smartphone app. While it may seem convenient, it provides an easy way for squatters and others to enter the home illegally.⁵

Luckily, since most iBuyers (and traditional sellers) pay a buyer agent's commission, you can benefit from the guidance and expertise of a real estate professional … at no cost to you!

HOW CAN I PROTECT MYSELF IF I CHOOSE TO WORK WITH AN iBUYER?

While it may seem like the "quick and easy" way to go, working with an iBuyer can present some unique challenges. For example, they are notorious for presenting a strong initial purchase offer and then whittling it down with a long list of costly updates and repairs once they complete their inspection.² And unlike a traditional buyer who is incentivized to make a deal work, iBuyers can easily walk away if you don't meet their demands.

Just like you wouldn't go to court without a lawyer, you shouldn't enter into a real estate transaction without an advocate to represent you. Having a professional agent on your side can be especially important when negotiating with an iBuyer. Remember, they employ sophisticated representatives and a team of lawyers who are focused on maximizing their profits, not yours. You need someone in your corner who has the skills and knowledge to ensure you get a fair deal and who understands the terms of their contracts, so you don't encounter any unpleasant surprises along the way.

Overall, we think the emergence of new technology that helps to streamline the real estate process is exciting. And if we believe a client can benefit from working with an iBuyer, we present it as an option. But there is—inevitably—a cost to the convenience. After all, most iBuyers eventually list the properties they acquire on the open market, which is still the best place to find a buyer if you want to maximize the sales price of your home.

Sources:

1. The Dallas Morning News -
   https://www.dallasnews.com/business/real-estate/2019/07/11/so-called-ibuyer-real-estate-firms-pitch-programs-to-buy-your-house-help-you-hunt-for-another/
2. MarketWatch -
   https://www.marketwatch.com/story/selling-your-home-to-an-ibuyer-could-cost-you-thousands-heres-why-2019-06-11
3. Forbes -
   https://www.forbes.com/sites/alyyale/2019/08/16/study-shows-ibuyers-cost-home-sellers-thousands-is-convenience-worth-the-price/#697ac0c42269
4. US News & World Report -
   https://realestate.usnews.com/real-estate/articles/what-to-expect-when-buying-a-home-from-an-ibuyer

Inman -
https://www.inman.com/2019/09/11/police-arrest-couple-found-squatting-in-opendoor-home-with-their-kids/

The U.S. unemployment rate is at a 50-year low, and consumer confidence remains high. In fact, the University of Michigan's latest Surveys of Consumers found that Americans have their most positive personal finance outlook since 2003.¹

However, if you follow national news, you've probably heard speculation that we could be headed toward a recession. Global trade tensions and a slow down in the GDP growth rate have sparked volatility in the stock market, leading to economic uncertainty.

Given these differing signals, you may be wondering: How has the U.S. housing market been impacted? Where is it headed? And more importantly … what does it mean for me?

MORTGAGE RATES ARE NEAR HISTORIC LOWS

In August, Freddie Mac reported that the average 30-year fixed mortgage rate hit its lowest level since November 2016, falling to 3.6%, down a full percentage point from a year earlier.² Variable mortgage rates also fell when the Federal Reserve cut interest rates at the end of July for the first time since 2008.³

This was welcome news for many in the real estate industry. Freddie Mac predicts that low interest rates and a robust job market will help the housing market remain strong despite the threat of recession.

"There is a tug of war in the financial markets between weaker business sentiment and consumer sentiment," said Sam Khater, Freddie Mac's chief economist. "Business sentiment is declining on negative trade and manufacturing headlines, but consumer sentiment remains buoyed by a strong labor market and low rates that will continue to drive home sales into the fall."²

What does it mean for you? If you're looking to buy a home, now is a great time to lock in a low mortgage rate. It will shrink your monthly payment and could save you a bundle over the long term. Or if you plan to stay in your current home for a while, consider whether it makes sense to refinance your mortgage at today's lower rates.

PRICES CONTINUE TO RISE AT A MODEST PACE

According to the S&P CoreLogic Case-Shiller Indices, housing prices continue to rise. But the rate at which prices are rising is slowing down. For May 2019, the National Home Price Index rose by 3.4%, down from 3.5% the previous month.⁴

Of course, national averages often don't present the whole picture. Some markets have seen modest declines, while other areas are witnessing double-digit increases. The key differentiating factor in most cases? Housing affordability.⁵

Since 2012, home prices have increased at about three times the pace of wages, according to National Association of Realtors chief economist Lawrence Yun.⁶ 

"Housing unaffordability will hinder sales irrespective of the local job market conditions," said Yun. "This is evident in the very expensive markets as home prices are either topping off or slightly falling."⁵

But what about all this talk of a recession? Will we see housing values plummet like they did in 2008? Economists say no.

If we look at history, the real estate crash experienced during the Great Recession isn't typical.

The recent Housing and Mortgage Market Review report from Arch Mortgage Insurance provides data to support this. "What we found is that the next recession is likely to be far less severe on the housing market than the last one. It's not that this time is different; it's that last time was really different from historic norms."⁶

"A large decline in national home prices is unlikely in the next recession," Arch economists write. "A persistent housing shortage should help cushion home price declines."⁶

What does it mean for you? If you have the ability and desire to buy a home now, don't let the threat of a recession hold you in limbo. The market is cyclical, and it will experience ups and downs. But over the long term, real estate has consistently proven to be a good investment.

STARTER INVENTORY REMAINS TIGHT WHILE LUXURY MARKET SOFTENS

As we've seen in the past, it's become a tale of two sectors.

The low-end of the market remains highly competitive as buyers compete for affordable housing. A lack of new construction during the last recession led to an undersupply of starter homes. This trend continues—despite growing demand—due to a lack of skilled workers, rising land and material costs, and a slow permitting process in many areas.⁷

The result? There's a shortage of homes for sale that Americans can actually afford to buy.

The luxury market, on the other hand, has softened. Economic uncertainty, changes to tax laws, and rising prices have slowed demand. Plus, to recoup their higher costs, builders flocked to this segment—causing an overabundance of supply in some areas.

"If you're selling an entry level home, you're probably still looking at a pretty competitive market in most places," according to Danielle Hale, chief economist at Realtor.com. "But if you're selling a more expensive home you probably have to adjust your expectations."⁸

What does it mean for you? Move-up buyers, you're in luck! If you're ready to trade in your starter home for something more luxurious, you may get the best of both sectors. We're still witnessing strong demand for entry-level homes, giving sellers the upper hand. At the same time, buyers of high-end homes are finding a greater selection (and more negotiating power) than they've had in years.

INVESTORS ARE BUYING HOMES AT RECORD LEVELS

There's one group that hasn't been slowed down by lack of affordability or economic uncertainty: investors.

According to CoreLogic, investors are purchasing homes at a record pace. In 2018, the share of U.S. homes bought by investors reached 11.3%—the highest level since the company began tracking nearly 20 years ago.⁹

Notably, this increased activity wasn't led by institutional investors, but instead by small and individual investors focused on the starter-home segment.⁷ Declining interest rates and an uncertain stock market have led investors to flock to real estate as they seek out greater stability and higher returns.

"With declining mortgage rates … they're searching for a better return for their money," said NAR chief economist Lawrence Yun.¹⁰

What does it mean for you? If you're looking for a way to "recession proof" your money, you might want to consider investing in real estate. People will always need a place to live, and (unlike the stock market) a rental property can provide a steady source of cash flow during uncertain economic times.

WE'RE HERE TO GUIDE YOU

While national real estate numbers can provide a "big picture" outlook, real estate is local. As local market experts, we can guide you through the ins and outs of our market and the issues most likely to impact sales and home values in your particular neighborhood.

If you have specific questions or would like more information about how market changes could affect you, contact us to schedule a free consultation. We're here to help you navigate this shifting real estate landscape.

Sources:

1. University of Michigan Surveys of Consumers -
   http://www.sca.isr.umich.edu/
2. Freddie Mac -
   https://freddiemac.gcs-web.com/news-releases/news-release-details/mortgage-rates-drop-significantly?_ga=2.29332539.689041222.1565464527-928629548.1565464527
3. CNN -
   https://www.cnn.com/2019/07/31/business/fed-rate-cut-july-meeting/index.html
4. S&P Dow Jones Indices -
   https://us.spindices.com/documents/indexnews/announcements/20190730-965771/965771_cshomeprice-release-0730.pdf?force_download=true
5. National Association of Realtors -
   https://www.nar.realtor/newsroom/metro-home-prices-increase-in-91-of-metro-areas-in-second-quarter-of-2019
6. Forbes -
   https://www.forbes.com/sites/alyyale/2019/04/18/with-a-recession-looming-is-now-the-time-to-sell-your-home/#7d3a21665bce
7. CNN -
   https://www.cnn.com/2019/08/09/economy/mortgages-home-buyers/index.html
8. Forbes -
   https://www.forbes.com/sites/carolinefeeney/2019/07/01/halfway-into-2019-how-is-the-housing-market-holding-up/#7e656e3ec5d8
9. CoreLogic -
   https://www.corelogic.com/blog/2019/06/special-report-investor-home-buying.aspx

Fox Business -
https://www.foxbusiness.com/economy/investors-snapping-up-homes-at-record-levels

In our "bigger is better" culture, there's an expectation that each home should be larger and grander than the last. But life changes like divorce, kids leaving for college, or even the simple act of growing older can prompt us to find a smaller home that better suits our shifting needs and lifestyle.

In fact, the advantages of downsizing are being increasingly recognized. A "tiny house movement" has gained passionate advocates who appreciate the benefits of living simply at any age and stage of life. Not only does a smaller home typically cost less, it also takes less time and effort to maintain.¹

Whatever your reasons are for downsizing, the process can seem overwhelming. That's why we've outlined five steps to guide you on your journey. And in the end, we hope you'll find that less is more … more comfort, more security, and more time and energy to spend on the activities and the people that you love.  

5 STEPS TO DOWNSIZING SUCCESS

1. Determine Your Goals and Limitations

The first step is to figure out your goals for your new living environment. Do you want to live closer to family? Are you hoping to cut down on home maintenance? Are you looking for a community with certain amenities?

You should also consider any limitations that will impact the home you choose. For example, are stairs an issue? Do you need access to medical care? In the case of divorce, are there child-custody issues you need to take into account?

Estimate how long you plan to stay in your new home. Do you expect your needs to change during that time?

Make a "wish list" of features and prioritize them from most to least important. If you'd like any assistance with this process, give us a call! We'd be happy to sit down with you for a free consultation. We can also help you assess the value of your current home so you can set a realistic budget for your new one.

2. Find the Perfect New Home

Once you've established your "wish list," we can begin the search for your new home. As local market experts, we know the ins and outs of all the top communities in our area. We can help you determine the neighborhood and type of home that will best fit your wants and needs.

From family neighborhoods to retirement communities, we serve clients in all stages of life. If you or a loved one are in need of extended support, we can also share our knowledge of the assisted living facilities in town and help you identify those that offer the optimal level of care.

Are you planning to relocate out of town? We can refer you to a trusted real estate professional in your target area who can help you with your search.

3. Sell Your Current Home

If you're ready to sell your current home, we'll begin the process of preparing to list it as we search for your new one.

We have a special interest in helping homeowners who are facing major life transitions, and we offer a full-service real estate experience that aims to remove as much of the stress and hassle of selling your home as possible. We also understand that many of our clients choose to downsize for financial reasons, so we employ tactics and strategies to maximize the potential sales revenue of your home.

We do this by employing our proven three-part approach, which focuses on optimum preparation, pricing, and promotion. As part of that plan, we invest in an aggressive marketing strategy that utilizes online and social media platforms to connect with consumers and offline channels to connect with local real estate agents. This ensures your property gets maximum exposure to prospective buyers.

4. Sort and Pack Your Belongings

Even before you find your new home, you can begin preparing for your move. A smaller home means less space for your furniture and other possessions, so you will need to decide what to keep and what to sell or donate. Sorting through an entire house full of belongings will take time, so begin as early as possible.

Parting with personal possessions can be an extremely emotional process. Start with a small, unemotional space like a laundry or powder room and work your way up to larger rooms. Focus on eliminating duplicates and anything you don't regularly use. If you have sentimental pieces, family heirlooms, or just useful items you no longer need, think about who in your life would benefit from having them. For large collections, consider keeping one or two favorite pieces and photographing the rest to put in an album.²

Make sure the items you keep help you achieve the goals you outlined in Step 1. For example, if you want a home that's easier to clean, cut down on knickknacks that require frequent dusting. If you're moving to be closer to your grandchildren, choose the shatterproof plates over the antique china.

Allow yourself time to take breaks if you start to feel overwhelmed. If you're helping a loved one with a move, try to be a patient listener if they want to stop and share stories about particular items or memories throughout the process.³ This can be therapeutic for them and an opportunity for you to learn family history that may otherwise have been forgotten.

5. Get Help When You Need It

Moving is stressful in any situation. But if you're downsizing due to health issues or a major life change, it can be an especially tough transition. Don't be afraid to ask for help.

Seek out friends and family members who can assist with packing and decluttering. If that's not an option, or if you need additional help, consider hiring a home organizer, full-service moving company, or even a senior move manager, which is a professional who assists older adults and their families with the physical and emotional aspects of relocation.⁴ You can find one accredited by the National Association of Senior Move Managers at https://www.nasmm.org/find/index.cfm.

If financial constraints are holding back, let us know. We can help you explore the possibility of tapping into the equity in your current home now. That way you can afford to get the assistance you need to make your transition as smooth as possible.

ARE YOU LIVING YOUR BEST LIFE?

If your current home no longer suits your needs, maybe it's time to consider a change. We would love to help you explore your options. Contact us today to schedule a free, no-obligation consultation.

Sources:

1. The Tiny Life -
   https://thetinylife.com/what-is-the-tiny-house-movement/
2. My Move -
   https://www.mymove.com/moving/senior-guide-downsizing/
3. Daily Caring -
   https://dailycaring.com/5-tips-to-downsizing-for-seniors-keepsakes-mementos/
4. National Association of Senior Move Managers -
   https://www.nasmm.org

Most new homeowners have something about their property that they want to change. And as family needs and design trends shift over time, many will eventually choose to remodel. Some homeowners make updates to their property before listing it to maximize their potential sales revenue.

Whatever your reasons are for taking on a home improvement project, it's wise to consider how the money you invest will impact your home's value.

We've taken a look at six popular home renovations and identified those that—on average—have the best and worst returns on investment. So before you lift a hammer or hire a contractor, take a look at this list and see if your remodeling efforts will reward you when it comes time to sell.

RENOVATIONS THAT PAY OFF

These three common home improvement projects not only add function and style to your home, but they also offer a strong return on investment. Making strategic upgrades to your property will help you increase its value over time.

Minor Kitchen Remodel

The kitchen is often referred to as the "heart of the home," and for good reason. Traditionally used for preparing food, it has morphed into so much more. Many of us now eat our family meals in the kitchen, it serves as a favorite spot for homework and kids' art projects, and it's the place guests tend to gather when we host events.

Because we spend so much time in our kitchens, it's natural that we will eventually want to make updates and upgrades to better suit our needs and changing style preferences.

Luckily, a minor kitchen remodel is one of the best investments you can make in your home. According to Remodeling Magazine's annual Cost vs. Value Report, it has an average 80.5% return on investment.¹

The key to making a kitchen remodel pay off is to keep it modest in scale. Spend too much on custom or high-end selections, and you are less likely to recoup your investment. Instead, make an effort to keep your existing layout if it works for you and your family. Paint or reface cabinets instead of replacing them. Update countertops with low-maintenance quartz and swap out old light fixtures with modern alternatives. Replace outdated appliances with energy-efficient models. The average cost for a minor kitchen remodel is $22,500, and it's likely to recoup more than $18,000 at resale.¹

Wood Deck Addition

A deck addition is a popular way to extend and enhance the use of your outdoor space. It's the perfect spot for grilling, dining alfresco, and entertaining. In fact, 81% of surveyed homeowners said they have a greater desire to be home since completing a deck addition.²

For a 16 x 20-foot wood deck, you can expect to spend around $13,000. Fortunately, the money you invest offers an average return of 76%.¹

Decks made of composite material are a popular alternative these days, as they don't require the regular sanding and staining that wood decks need. However, at an average cost of $19,000 for a 16 x 20-foot composite deck, they are significantly more expensive. Plus, the expected return on investment is only 69%.¹ Still, if you plan to hire someone to provide regular maintenance to a wood deck, then a composite deck may offer cost savings over time.

Siding Replacement

Everyone knows good curb appeal is important when selling your home. And while it may not be the most exciting way to spend your remodeling budget, new siding can make a big impression on buyers … and your selling price.

Your home's exterior is one of the first things buyers see when they view your home. It sets the tone for what they are going to see inside. It also gives an impression of how well the property has been maintained. Worn, peeling, or rotted siding can be a major red flag for buyers.

Replacing 1,250 square feet of siding costs around $16,000 and will net you an average of 76% at resale.¹

For an even greater impact, consider replacing a portion of your siding with manufactured stone veneer. It can have a dramatic effect on the visual appeal of your home. A 300 square foot area will run you around $8,900, but you can expect to see a nearly 95% return when it comes time to sell.¹

RENOVATIONS WITH WEAK RETURNS

These three popular remodeling projects are homeowner favorites. However, don't expect to see a high rate of return at resale. Instead, consider them an investment in your current quality of life. Just make sure you'll be living in the home long enough to make them worthwhile.

Major Kitchen Remodel

If there's one room the majority of homeowners dream about making over, it's their kitchen. From custom cabinetry to high-end appliances, the possibilities are endless. But those dreams can come at a cost.

An upscale kitchen remodel with high-end cabinetry and countertops, commercial-grade appliances, and designer features can cost upwards of $130,000. And unfortunately, you'll only get back around 60% at resale. Even a mid-range kitchen remodel that includes new semi-custom wood cabinets, laminate countertops, and energy-efficient appliances could run you around $66,000 and net you a mere 62% at resale.¹

Of course, an outdated or non-functional kitchen could turn buyers off from your home completely …  and keep you from enjoying it yourself! So if your kitchen needs a major remodel, you shouldn't necessarily scrap your plans. Just go in with the realization that you may only get back a fraction of what you invest. Then you can decide which upgrades are worth the splurge.

In-ground Pool         

Few additions deliver more entertainment or enjoyment than an in-ground pool. It brings families and friends together, provides a break from the summer heat, and offers a fun and convenient way to stay fit. Plus, you'll be the envy of your neighbors! But before you dive into a pool addition, consider whether the benefits outweigh the (substantial) costs.

The average expense to install a standard 18 x 36-foot in-ground pool is $57,500. And the estimated return at resale is only or 43%.² In addition to the installation cost, plan to spend money each year on maintenance, repairs, and additional insurance.

However, 92% of surveyed homeowners said they "have a greater desire to be home" since installing a pool, and 83% have "an increased sense of enjoyment when they are at home." For you and your family, the perks of a pool may be priceless.²

Master Suite Addition

If you own a house built before the 1980s, there's a good chance it lacks a master suite, which is a feature that has become commonplace in most newly constructed homes.³

Master bedrooms have evolved from a simple place to sleep into a homeowner's retreat—often featuring a sitting area, his-and-hers walk-in closets, and an attached bathroom with double vanities, a soaking tub, and a walk-in shower.

And master suite additions have become increasingly popular—both in homes that lack one as well as those with aging owners who can no longer accommodate stairs to an upper-level bedroom.

But what's the typical return at resale? Unfortunately, a master suite addition offers one of the lowest returns of any remodeling project. With a median cost of $125,000, most sellers will only recoup around 52% of their investment. Nevertheless, in a survey of homeowners, the majority were satisfied with their decision to add a master suite, giving it a "Joy Score" of 10 out of 10.⁴

WEIGHING COST VS. BENEFIT

It's always wise to enter into a remodeling project with knowledge of how it will impact your home's value. In most cases, upscale or highly-customized upgrades are less likely to offer a high rate of return. That said, home renovations that improve your quality of life and enhance your enjoyment may be worthwhile no matter the cost.

Sources:

1. 2019 Cost vs. Value Report -https://www.remodeling.hw.net/cost-vs-value/2019/
2. NAR' Remodeling Impact Report - https://www.nar.realtor/sites/default/files/documents/2018-05-remodeling-impact-outdoor-features-05-23-2018.pdf
3. Zillow -https://www.zillow.com/blog/evolution-of-the-master-bedroom-48286/
4. House Logic -https://www.houselogic.com/by-room/bedroom-closet/master-suite-addition-return-investment/

Thanks to Marie Kondo and her hit Netflix series "Tidying Up," home organization is a hot topic right now. Marie encourages her viewers to minimize their possessions and keep only those items that "spark joy."

With spring in full bloom, now is the perfect time to do some spring cleaning and add organizational systems to your own home. Not only will you clear out clutter, your efforts can actually increase the value of your home.

Ready to give it a try? Here are six home organization ideas that will "spark joy" for you and your property value.
 

Boost Bathroom Storage Capacity

When was the last time you cleaned out your bathroom cupboards? If it's been awhile, remove everything and take a look at each item. Toss any old or expired products—keep only what you actually use.

If your vanity has drawers, add drawer organizers, so you have a dedicated space for smaller items, like makeup and jewelry. For deep cabinets, install roll-out shelves or baskets to maximize the use of space.

And don't forget about the walls! Mount open shelves to store towels. If you're short on storage space, a cabinet over the toilet can offer additional room for supplies. These inexpensive additions can make your morning routine a little easier while giving your bathroom a more custom feel. And on average, minor bathroom remodeling projects like these see a 102% return at resale.¹

Upgrade Your Laundry Room

Sort through the items in your laundry room and throw away or donate anything you no longer need or use. If you've been holding onto a collection of old washcloths and single socks, it's time to say goodbye. Then give your laundry room an upgrade with some customized organizational features.

A mix of open cubbies and cabinets with doors will give you plenty of options for storing detergents and supplies. If you have space, a divided hamper or set of laundry baskets can provide a place to sort your clothes before washing. Install a hanging rod or drying rack for delicates and a flat work surface for ironing and folding clothes. With a few simple tweaks, you can turn this chore into a score!

Fully Utilize Your Basement or Attic

Basements and attics can easily become a dumping ground for clutter. If that's the case in your home, you know what to do!

Once you've conducted a thorough clean out, think about how you can better utilize the space to meet your family's needs. Install cabinets and a table so you can use the area as a craft room. Or you could turn it into a game room with a media center and ping-pong table. Investing in your basement will not only add function for your family, but also the average basement remodel can see up to a 70% return on investment when it's time to sell.²

If you have an attic, consider adding a cedar closet to store your off-season clothing. The cedar lining will keep your clothes free from moths and smelling fresh year round.³ Turning your attic into a more usable space will pay off down the road, too. A finished attic sees an estimated 60% return on investment.²
 

Customize Your Closets

Cleaning out the closet is a chore most of us dread, but by now, you're a pro! Get rid the clothes and shoes that don't fit you, are uncomfortable to wear, or that no longer "spark joy."

Then it's organizing time. So where do you start? You'll want to create a designated space for each type of clothing: high hanging rods for dresses and long jackets, lower rods for skirts and shirts, and shelves for folded items like jeans. And accessories need a place to go, too. Add racks for your shoes, drawers for jewelry, hooks for hats, and shelves or racks for handbags.

A well-equipped closet can be a major draw for buyers—the average return on a closet remodel is 57%.⁴ But more importantly, it'll improve your day-to-day life. Surveyed homeowners gave their closet remodel a "Joy Score" of 10 out of 10, higher than kitchen or bath upgrades.⁵

Install Built-in Bookcases and Cabinets

Built-in furniture adds functionality and storage to a room while giving your home a high-end look. Built-in bookcases can turn an empty room into an office. Custom cabinets can be used in a living room to display media equipment while providing hidden storage for DVDs, board games, and family albums.

When designing any built-in feature, remember not to go too custom. A design that only fits your tastes or belongings could turn off future buyers. Instead, select standard sizes and classic finishes to appeal to a broad range of buyers when it comes time to sell.

Equip Your Garage

If you can no longer fit your car in your garage, it may be time for a clean out. Similar to an attic or basement, the garage can quickly become overrun with clutter. A thorough cleaning will help you assess which items are worth keeping.

When adding organizational systems your garage, start with a small rack to store yard tools and larger racks for bikes and sports equipment. Overhead racks are a great place to put seasonal items and bulky luggage. A workbench against a wall lined with pegboard and hooks creates a dedicated space to use and store tools. If you have children or pets, add a cabinet with a lock. This will give you a place to securely store harsh chemicals and sharp tools. With a little effort, you'll be pulling in your car (and buyers) in no time!

SPRING INTO ACTION

If you're searching for service providers to help with your spring cleaning or home organization efforts, let us know! We can connect you with our trusted network of local home improvement professionals. We can also help you determine which organizational upgrades will add the most value to your home. Call us today, and let us know how we can help!

Sources:

1. HGTV -
   https://www.hgtv.com/design/real-estate/top-home-updates-that-pay-off-pictures
2. Nationwide -
   https://blog.nationwide.com/valuable-home-improvements/
3. HGTV -
   https://www.hgtv.com/remodel/interior-remodel/maximum-home-value-storage-projects--attic
4. The Closet Doctor - https://www.closet-doctor.com/news/what-is-the-return-on-investment-on-closet-organizers
5. NAR Remodeling Impact Survey -
   https://www.nar.realtor/sites/default/files/documents/2017-remodeling-impact-09-28-2017.pdf

If you're thinking about buying a home, you've probably received your share of advice from family and friends. Add to that the constant stream of TV shows, news segments, and social media posts that over-simplify the home buying process for easy entertainment.

With so much information to sift through, it can be tough to distinguish fact from fiction. That's why we're revealing the truth behind some of the most common home buyer myths and misconceptions.

Buying a home is a big decision, but it doesn't have to be a scary one. If you arm yourself with knowledge and a qualified team of support professionals, you'll be well equipped to make the right choices for your family and financial future.

DON'T FALL FOR THESE COMMON HOME BUYER MYTHS

Myth #1: You need a 20% down payment.

Plenty of buyers are purchasing homes with down payments that are much less than 20% of the total cost of the property. Today, you can buy a home with as little as 3-5% down.

There are multiple programs out there that allow you to have a lower down payment, and a lender or mortgage broker can talk you through which option is the best for you. Since you're putting less money down, you're a riskier borrower to your lender than people who put down a full 20%. Because of this, you will most likely need to pay mortgage insurance as part of your monthly payment.

Myth #2: Real estate agents are expensive.

Your agent is with you every step of the way throughout your home buying journey, and he or she spends countless hours working on your behalf. It sounds like having an agent is expensive, right? Well, not for you. Buyers usually don't pay a real estate agent's commission. Your agent's fee is paid for at closing by the seller of the home you're buying.¹ The seller knows to factor this cost into the property's total purchase price.

Myth #3: Don't call a real estate agent until you're ready to buy.

The earlier you bring in an agent to help with the purchasing process, the better. Even if you're in the very early stages of casually browsing Zillow, a real estate professional can be a huge help.

They can create a search for you in the Multiple Listing Service (MLS), so you get notifications for every house that meets your criteria as soon as it hits the market. The MLS is typically more up-to-date than popular home search sites like Zillow and Trulia. Setting up a search a few months before you're considering buying gives you a good idea of what's out there in your town that's in your budget. Reviewing the MLS and speaking with an agent as soon as possible can help you set realistic expectations for when you actually start the house hunting process.

Myth #4: Fixer-uppers are more budget friendly.

We've all watched the shows on HGTV that encourage people to go after fixer-uppers because they're more affordable and allow buyers to eventually renovate the home to include everything on their wishlist. But, this isn't always the case.

Sometimes, homes that need a lot of work also require a lot of money. Big renovations, like add-ons, a total kitchen remodel, or installing a pool, take a lot longer than it looks on TV. If you're really interested in a fixer-upper, ask your agent to show you a mix of newer homes and older homes. If you fall in love with an older home that needs a lot of work, get some quotes from contractors before you buy so you know the real cost of the renovations and see if you can work them into your budget.

Myth #5: Your only upfront cost is your down payment.

Your down payment is big, but it isn't the only money you'll spend during the home buying process. At closing, you'll pay your down payment, but you'll also bring closing costs to the table. Closing costs are typically anywhere from 2-4% of the total purchase price of the home.² This amount includes the cost for items like homeowners insurance, title fees, and more.

You'll also need to pay for an inspection before closing, which usually costs a few hundred dollars. This price will be higher or lower based on the size of your new property. Your lender will also require an appraisal. An appraiser will come in and inspect the home to determine how much it's worth. Depending on your lender, you may have to pay this when the appraisal is conducted or it might be rolled into your closing costs.

Myth #6: You need a high credit score to buy a house.

You don't need perfect credit to buy the perfect home. There are loans out there that buyers with lower credit scores can qualify for. These are good options for people who have had credit issues in the past, but some of them come with additional fees you will need to pay. Speak to a few local lenders or mortgage brokers to talk through which options might be best for you.

Myth #7: You can't qualify for a mortgage if you're still paying off student loans.

While some buyers may feel more comfortable paying off their existing debts before taking the leap into homeownership, it's not a requirement. When you're applying for a mortgage, the lender takes a close look at your debt-to-income ratio.³ If you want to calculate this on your own, add up all of your monthly debt payments and divide those by your monthly income. When you're lender does this, they're trying to make sure that you will be able to afford your monthly mortgage payments along with your other existing payments. If your income is high enough to allow you to make all of these payments each month, having a student loan will most likely not stop you from getting a mortgage.

Myth #8: You should base your budget on what your lender approves.

How much house you qualify for and how much you can afford are two totally different numbers. When you prequalify for a mortgage, your lender will look at your income, debt, assets, credit score, and financial history to determine how much money you might qualify for.⁴ For some people, this number might be much higher than you thought because lenders tend to approve for the highest amount they think you can afford. But that doesn't mean that's how much you should borrow.

Instead, figure out how much house you can actually afford. An online mortgage calculator can be a good first step in determining this number. We recommend thinking about what you want your monthly payment to be as a starting point. And remember to include your principal, interest, taxes, and, insurance. You should also think about ownership expenses that aren't part of your monthly payment, like HOA dues and maintenance.

Myth #9: It's all about location.

You've heard the phrase. Location, location, location is basically the real estate industry's motto, but we'll let you in on a little known secret: It's not always true. Yes, location is great to consider when it comes to school districts and commute times, but you also need to think about how the home will function for you and/or your family's lifestyle. If a family of five is choosing between a one bedroom condo in the bustling city center and a 4-bedroom home out in the suburbs, the latter is probably the best, most functional choice for them. Also, by buying in a less sought after neighborhood, your property taxes will most likely be much lower!

Obviously, you might still want to choose an area with great resale potential, and this is something that your agent can speak to you about. They're an expert in your city and are constantly monitoring buying and selling trends.

Myth #10: If you look hard enough, you'll find a home that checks every box on your wishlist.

You've seen that famous house hunting show. And while we have our suspicions about how real it is, the one thing they get right is that almost every buyer needs to compromise on something. Yes, the perfect house that meets every item on your wishlist is probably out there, but it's also probably double or triple your budget.

A long wishlist can be a great starting point for figuring out what you want and don't want, but we recommend narrowing that wishlist down to the top five things that are important to you in order of priority. We also recommend noting on your wishlist what your absolute deal breakers are, like "must have a yard for our dog," and noting what you can live without, like "heated bathroom floors."

This is a great list to discuss when you first start talking to an agent. A good real estate agent will be able to look at your list and find properties that might work for you. By coming to that first meeting with realistic expectations and knowledge about home buying rather than a bunch of myths heard here and there, you'll be able to start the process off on the right foot and be in your new house in no time.

WE'RE HERE TO HELP

Whether you're a first-time buyer or a seasoned homeowner, there's no reason to go through the home buying process without an advocate on your side. We're here to answer your questions and do the hard work for you, so you can spend your time dreaming about your new home. Call us today to schedule a free, no-obligation consultation.

Sources:

1. Realtor.com -

https://www.realtor.com/advice/finance/realtor-fees-closing-costs/

2. The Balance -
   https://www.thebalance.com/buyer-s-closing-costs-1798422
3. StudentLoanHero -

https://studentloanhero.com/featured/student-loans-buying-house/

4. Zillow -

https://www.zillow.com/mortgage-learning/pre-qualification-vs-pre-approval/

It's easy to look up how much money you have in your savings account or the real-time value of your stock investments. But determining the dollar value of a home is trickier.

As a seller, knowing your home's worth helps you price it correctly when you put it up for sale. If you price it too high, it may sit on the market. But price it too low and you may be losing out on a good chunk of money (nobody wants that!). For buyers, it's important to know a home's worth before you make an offer. You want your offer to be competitive, but you don't want to overpay for the property.

Even if you're not a buyer or seller right now, as a current homeowner you might just be curious about the value of your home. Keeping track of your home's worth year over year helps you understand the trends in your market. So when you are ready to sell, you can take advantage of a good window of opportunity.

The good news is, a trained real estate agent—who understands the nuances of your particular neighborhood—can determine the true market value of your property … and at no cost to you!

THE THREE TYPES OF HOME VALUES

When you start the process of buying or selling a home, you'll frequently hear the words appraised value, assessed value, and true market value. It's important to know the difference between each one so you can make better, informed decisions.

Appraised Value

A professional appraiser is in charge of determining the appraised value of a home. These appraisals are typically required by a lender when a buyer is financing the property. And while the lender is the one requiring this information, the appraiser does not work for the lender.¹ Your appraiser should be an objective, licensed professional who doesn't have allegiance to the buyer, seller, or lender—no matter who is paying their fee.

The number the appraiser comes up with (the appraised value) assures the lender that the buyer is not overpaying for the property. For example, imagine a seller lists a home for $400,000. They reach a deal with the buyer to sell the home for $375,000. However, if an appraiser evaluates the property and determines that the appraised value is actually $325,000, then the lender will not lend for an amount higher than that appraised value of $325,000.²

When figuring out this number, an appraiser will compare the property to similar homes in your neighborhood, and they'll evaluate factors such as location, square footage, appliances, upgrades, improvements, and the interior and exterior of the home. 

Assessed Value

The assessed value of a home is determined by your local municipal property assessor. This value matters when your county calculates property taxes each year. The lower your assessed value, the less property tax you'll pay.³

To come up with this value, your assessor will evaluate what comparable homes in the neighborhood have sold for, the size of your home, age, overall condition, and any improvements or upgrades that have been made. However, most assessors don't have full access to your home, so their information is limited.

Assessments are done annually to determine how much property tax you owe. Many counties use a multiplier (typically between 60%-80%) to calculate the final assessed value. So, if the assessor determines that the value of the home is $300,000, but the county uses a 70% multiplier, the assessed value of the home would be $210,000 for tax purposes.⁴

If your assessed value isn't as high as you envisioned, don't sweat it. Many homeowners appeal their assessment in favor of a lower valuation so that they can save money on property taxes. If you're interested in appealing your property tax assessment, let us know. We offer complimentary assistance and would be happy to help you build your case.

True Market Value

True market value is established by your real estate agent. It basically refers to the value that a buyer is willing to pay for the property. A good real estate agent is an expert in determining true market value because they have hands-on experience buying and selling properties. They understand the mindsets of buyers in your market and know what they'll pay for a desirable house, townhouse, or condo.

As a seller, knowing your true market value is important because it helps you choose how much to list your property for. It can also help you decide if you want to make any improvements to your home before putting it on the market. Your agent can help you figure out which updates and upgrades will have the biggest impact on your true market value.

WHAT'S THE DEAL WITH ONLINE CALCULATORS?

When figuring out your home's value, you might be tempted to see what popular real estate sites like Zillow, Redfin, and Trulia have to say. When you use an online calculator to determine your home's value on these sites, it is just an estimate. It's not an actual appraisal or the "true market value." These sites all have their own algorithms for coming up with their estimates. For example, Zillow comes up with their "Zestimates" by calculating "public and user-submitted data, taking into account special features, location, and market conditions." ⁵

These online estimates can be a great starting point for opening up the conversation with your real estate agent about your home's worth. But even Zillow recommends that you use a real estate agent for coming up with the actual market value of your home. The site says that once you get your "Zestimate," you should still get "a comparative market analysis from a real estate agent."

Having an agent involved in this process is essential because they understand the market better than a computer ever could. They're showing property in your city every single day, and they know the particular preferences of buyers and sellers in the area. Young professionals, large families, empty nesters, and other groups are all looking for different things in a home. A local agent has most likely worked with all of them, so they understand what every segment in your market is specifically looking for.

HOW AN AGENT FINDS YOUR HOME'S TRUE MARKET VALUE

So, how does an actual real estate agent determine true market value? They'll start by doing a comparative market analysis (CMA). This means they'll compare your home's features to similar properties in your area. For the CMA, the agent looks at the below factors to influence their assessment of your home's worth:⁶

• Neighborhood sales - Your agent will look at similar, recently sold homes in your neighborhood to see what they sold for and what they have in common with your house.
• The exterior - What does your home look like from the outside? Your agent will factor in curb appeal, the style of the house, the front and backyard, and anything else that impacts how the house looks to everyone walking and driving by.
• The interior - This is everything inside the walls of the house. Square footage, number of bedrooms and bathrooms, appliances, and more all influence the overall market value.
• Age of the home - Whether you have a newer or older home affects the number your agent comes up with as part of their assessment.
• Style of the home - The style of your home is important because buyers in different markets have different tastes. If buyers prefer ranch-style homes and you have one, then your home may sell for a premium (aka more money!).
• Market trends - Because a local agent has so much experience in your market, they have their finger on the pulse of your area's trends and know what buyers are willing to pay for a property like yours.
• Location, location, location - This one's probably the most obvious. Your agent will think about how popular the area is, how safe it is, and what schools are like.

A computer algorithm simply can't take all of these factors into account when calculating the value of your home. The reality is, nothing beats the accuracy of a real estate agent or professional appraiser when it comes to determining a home's true market value.

YOUR AGENT IS THERE EVERY STEP OF THE WAY

Determining a home's true market value is a real estate agent's forte. If you're a seller, your agent will help you find your home's market value so you can list it at the right price.

For buyers, your agent will help you determine the value so you can come up with a fair offer. Your agent can also set up a personalized home search on the Multiple Listing Service (MLS) for you so you'll receive emails of listings that meet your criteria. This will help you see what's out there in your city and how properties are being priced.

Get a Complimentary Report With Your Home's True Market Value

Curious about your home's true market value? Call us to request a free, no-obligation Comparative Market Analysis to find out exactly how much your home is worth!

Sources:

1. Chicago Tribune -

https://www.chicagotribune.com/suburbs/chi-ugc-article-what-is-the-difference-between-market-value-a-2013-09-30-story.html

2. SFGATE -

https://homeguides.sfgate.com/market-value-vs-appraised-value-1206.html

3. ValuePenguin -

https://www.valuepenguin.com/mortgages/what-is-the-assessed-value-of-a-house

4. Movoto -

https://www.movoto.com/blog/homeownership/assessed-value-vs-market-value/

5. Zillow -

https://www.zillow.com/how-much-is-my-home-worth/

6. com -

https://www.realtor.com/advice/sell/assessed-value-vs-market-value-difference/

Top 8 Home Design and Remodeling Trends for 2019

If you're a current homeowner, or in the market to buy, you're probably curious about the latest trends in home design.

Sellers who make strategic updates before listing a property can generate increased interest from buyers and, in some cases, a premium selling price. And buyers should consider which features of a home will need updating immediately (or in the near future) so they can factor renovation costs into their overall budget.

Even if you have no immediate plans to buy or sell, we advise our clients to be thoughtful about the colors, materials, and finishes they select when planning a remodel. Making over-personalized or unpopular design choices could hurt a home's value when it does come time to sell. And selecting out-of-style or overly-trendy elements could cause your renovation to feel dated quickly.

To help, we've rounded up eight of the hottest home design trends for 2019. Keep in mind, not all trends will work well in every house. If you plan to buy, list, or renovate a property, consult a professional who can help you realize your vision and maximize the impact of your investment.

1. WARMER PAINT COLORS

White and grey aren't going anywhere, but expect to see warmer tones and more earthy neutrals popping up in 2019. Cold whites are being replaced by warmer, softer whites. And warmer tones of grey have become a popular alternative to the cooler grays we were seeing earlier in the decade. Dove grey—with a lilac undertone—is a particular favorite with designers this year.

Sherwin Williams chose Cavern Clay, a warm terracotta, as its 2019 color of the year, while Behr selected Blueprint, a mid-tone blue. Benjamin Moore's selection is Metropolitan, a sophisticated grey.

If you're preparing to sell your home, consider a light, neutral paint color. Neutral colors provide a blank canvas upon which a buyer can envision placing their belongings, and lighter colors make a room appear larger and brighter.