The Number 1 Reason to Sell Now… Not Next Spring is…

January 25, 2017 by CENTURY 21 Ed Pariseau, Realtors

The Number 1 Reason to Sell Now… Not Next Spring is…

SUPPLY and DEMAND!

The Number 1 Reason to Sell Now… Not Next Spring is...

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2016:

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.

Bottom Line

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.

Information Supplied by: Keeping Current Matters

Why Pre-Approval Should Be Your First Step

January 21, 2017 by CENTURY 21 Ed Pariseau, Realtors

Why Pre-Approval Should Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

Capacity: Your current and future ability to make your payments

Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash

Collateral: The home, or type of home, that you would like to purchase

Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

Information Supplied by: Keeping Current Matters

What Would a Millennial Baby Boom Mean for Housing?

January 20, 2017 by CENTURY 21 Ed Pariseau, Realtors

What Would a Millennial Baby Boom Mean for Housing?

Recently released data from the National Center for Health Statistics revealed that 1.3 million Millennial women gave birth for the first time in 2015. There are now over 16 million women in this generation who have become mothers.

“All told, Millennial women (those born between 1981 to 1997) accounted for about eight in ten (82%) of U.S. births in 2015.”

The data also shows that this generation has waited until later in life to become parents as only 42% of Millennial women were moms in 2014, compared to 49% of Generation X at the same age. A Pew Research Center article discussing the data, points to social influences that may have contributed to the delay:

“The rising age at first birth is hardly limited to the Millennial generation. It has been a trend since at least 1970. Many factors may contribute, including a shift away from marriage, increasing educational attainment and the movement of women into the labor force.”

Do Millennials Want to Be Parents?

“While Millennials may be delaying parenthood, it’s not for a lack of interest in eventually becoming moms and dads. Members of this generation rated being a good parent as a top priority in a 2010 Pew Research Center survey.

Some 52% said it was one of the most important goals in their lives, well ahead of having a successful marriage, which 30% said was one of their most important lifetime goals.”

So, What Does This Mean for the Housing Market?

As Jonathan Smoke, Chief Economist for realtor.com explained: “At any given time in our history, demographics would explain 60-80% of what’s happening [in the market], and we are in a period of time where Millennials make up a largest demographic group.”

As more and more Millennial families are formed, this generation will shift their focus to providing the best home for their children to grow up in, the best school districts, and often to the stability that owning a home of their own provides.

Two-thirds of Millennials have not yet reached the average first-time home buying age of 32, as reported by the National Association of Realtor. The homeownership rate amongst Millennials has nowhere to go but up!

Bottom Line

Millennials as a generation have delayed traditional social norms until later in their lives. Whether getting married, having children or buying a home, the desire to provide for their family is still there, even if it takes a little while longer than it did for previous generations.

Information Supplied by: Keeping Current Matters

Old to New: Ideas for Rearranging Your Furniture

January 9, 2017 by CENTURY 21 Ed Pariseau, Realtors

Ideas for Rearranging Your Furniture

Give your home a new look without buying anything. Rearrange your furniture to make your room feel brand new. Use these tips to try something new without spending a dime. Take some cues from our Friends and find a style that can last a day, a month, or maybe even a year.

1. Take measurements: Take measurements of the furniture and the space before you move anything. You don’t want to move something just to have to put it back again. Just ask our Friends: Ross, Rachel, and Chandler.

2. Position your biggest piece first: Start with the biggest piece of furniture because the placement will make the largest impact. Check your measurements first to make sure that everything will fit. As our Friends would say, just say no to pivoting.

3. Arrange your seating in a new way: Push your seating area away from walls, creating a more intimate and conversational space. Moving your sofas and chairs away from the walls creates a less boxy look while also making the room appear larger. Don’t be afraid to position your furniture so that it is better for communication. Contrary to Chandler’s opinion, the focal point doesn’t have to be a TV. It could be facing your neighbors windows or Central Perk, for example.

4. Combat clutter: In the same sense of not cluttering a room, make sure your major elements are reflecting each other. If you have a fireplace in your living room put the “vintage” apothecary table on the opposite side of the room to balance it out.

5. Create distinct areas: If you have an open floor plan like our Friends create separate areas by grouping your furniture in different sections. You may want a separate area for rehearsing Smelly Cat, making a trifle, and playing with ducklings.

These tips will help you to create a new look that your friends and family will love. What are you waiting for? Start moving!

Small Changes, Big Differences: Low-Cost Ways to Give Your Home a New Look

October 27, 2016 by CENTURY 21 Ed Pariseau, Realtors

Low-Cost Ways to Give Your Home a New Look

There are a lot of advantages to home improvement changes. They can make your space feel more modern, larger, and increase its value.

And the good news is you don’t have to be an expert handyman (or handywoman) to make easy and simple alterations.

Here’s how to better the look and feel of your home:

1. Install new handles and door knobs: Buy new handles for your cabinets and drawers when you’re changing the style of a room. Get a modern feel by adding steel handles, or achieve shabby-chic comfort with bright colors that contrast classic wood doors and cabinets. Though old-fashioned, using a faux-crystal option will create a delicate look in a room.

2. Replace old light bulbs or add light fixtures: If the light in a room is looking dim, try stronger wattage bulbs (within the safety limitations listed on your lamp or light fixture). Floor lamps will also help achieve a brighter effect. Don’t rely on decorative desk lamps to drastically improve the brightness of a room, though they can enhance the mood and decor.

3. Paint the front door: It’s recommended that you repaint your front door every 4-6 years. (Williams Professional Painting.) Whether it’s a neutral or bold color, if you give a door a new look, it can change the outlook you have on the rest of the house.

4. Polish floors: A weekly sweeping of your hardwood floors isn’t enough. Polish your floors every three months with a urethane-based polish, which creates a protective layer against small scratches.

5. Paint an accent walls: This design technique draws the eye to one wall instead of the others. Choose a bold color or wallpaper on the wall that features the focus of your room (e.g. a fireplace, a large painting). One accent wall technique is to keep with the tone of other walls. For instance, if your room is beige, paint the accent wall a deep, chocolate brown to keep with the neutral tone.

Make these small yet significant changes to your home, and you could be on your way to have your very own redesign at a fraction of the cost.

How to Scare off Pests This Halloween

October 24, 2016 by CENTURY 21 Ed Pariseau, Realtors

How to Scare off Pests This Halloween

During Halloween, we welcome the presence of spooky beings. While creatures like skeletons and ghosts are fun, creepy-crawlers such as spiders and mice are never invited guests. To stop insects and rodents from crashing Halloween parties, instruct your clients on these pest prevention guidelines. After all, their house should be decorated in fake cobwebs – not real ones!

Plug the Gaps

Over time, gaps form between windows and window frames at varying rates. These gaps are caused by differing expansion and contraction rates of various materials at different temperatures. Homeowners should apply caulk to these window gaps, and to any gaps in attic vents. It’s also wise to install new weatherstripping around doors. This shield around the home may keep insects and rodents out as well as potentially improve the home’s energy efficiency in the cold weather.

Create a Chemical Barrier

Suggest that homeowners protect their home by spreading an insecticide along the foundation of their house, a couple of feet from the ground up and a couple of feet from the foundational wall. Either a liquid spray or a granular insecticide can be used to help combat the bugs around a house’s perimeter. Make sure that they trust a professional to implement pesticides with chemicals that are not harmful to people or pets. Trick-or-treaters would certainly appreciate the effort.

Examine The Roof and Chimney

Because mice can easily climb brick walls and enter a house through the chimney, recommend that your clients install chimney caps, or a metal cover secured on top. Not only could this prevent unwelcome critters from infesting a home, but it could also block autumn leaves from falling into the chimney and posing a fire hazard.

Check The Trees in Your Yard

Trees around the perimeter of a house can act as a welcome mat for raccoons, skunks, and mice. Make sure that no tree branches touch the house, especially on the roof, as animals love to climb from branches and enter homes. Also, insects congregate near woodpiles and shrubs, so keeping a distance between the home and woodpiles and shrubs makes bugs less likely to travel into the house.

Don’t let all the hard work go to waste. Your clients should stay vigilant and close all garage doors, windows and screen doors at night. If unwanted creatures still find a way into the home, the best plan may be to banish them with traps or poisons. However, since it is much easier and cheaper to prevent pests from entering in the first place, be sure your clients follow these guidelines to keep their home protected. This Halloween, they’ll have the house that spooks trick-or-treaters with freaky decorations, not with terrifying critters.

4 Reasons to Buy a Home This Fall

September 28, 2016 by CENTURY 21 Ed Pariseau, Realtors

4 Reasons to Buy a Home This Fall

It’s that time of year; the seasons are changing and with them come thoughts of the upcoming holidays, family get-togethers, and planning for a new year. Those who are on the fence about whether or not now is the right time to buy don’t have to look much further to find four great reasons to consider buying a home now, instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.4% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects home values to appreciate by more than 3.5% a year for the next 5 years.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Remain at Historic Lows

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained at or below 3.5% for 13 consecutive weeks. The Mortgage Bankers Association, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

Any increase in rates will impact YOUR monthly mortgage payment. A year from now, the percentage of your income that you spend on housing will increase substantially if you choose to wait.

3. Either Way You Are Paying a Mortgage

Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either your mortgage or your landlord’s. As a paper from the Joint Center for Housing Studies at Harvard University explains:

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Follow Us:

Information Supplied by: Keeping Current Matters

3 Questions Every Buyer Should Ask Themselves

August 5, 2016 by CENTURY 21 Ed Pariseau, Realtors

3 Questions Every Buyer Should Ask Themselves

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Answering the following 3 questions will help you determine if now is actually a good time for you to buy in today’s market.

1. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a recent survey by Braun showed that over 75% of parents say “their child’s education is an important part of the search for a new home.”

This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the four major reasons why people buy a home have nothing to do with money. They are:

A good place to raise children and for them to get a good education
A place where you and your family feel safe
More space for you and your family
Control of that space

What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.

2. Where are home values headed?

According to the latest Home Price Index from CoreLogic, home values are projected to increase by 5.3% over the next 12 months.

What does that mean to you?

Simply put, if you are planning on buying a home that costs $250,000 today, that same home will cost you an additional $13,250 if you wait till next year. Your down payment will need to be higher as well to account for the higher home price.

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.

The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac have all projected that mortgage interest rates will increase over the next twelve months as you can see in the chart below:

3 Questions Every Buyer Should Ask Themselves

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.

Follow Us:

Information Supplied by: Keeping Current Matters

Americans Believe Real Estate is Best Long-Term Investment

August 3, 2016 by CENTURY 21 Ed Pariseau, Realtors

Americans Believe Real Estate is Best Long-Term Investment

According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.

Bankrate asked Americans to answer the following question:

“Which would be the best way to invest money you did not need for more than 10 years?”

Real Estate came in as the top choice with 25% of all respondents, while cash investments (such as savings accounts and CD’s) came in second with 23%. The chart below shows the full results:

Americans Believe Real Estate is Best Long-Term Investment

Sterling White, co-founder of Holdfolio, gave one reason as to why real estate may have ranked so high.

“Houses are tangible. You can physically see and feel the product. So you know where your money is going.”

July’s poll also found that for the “26th consecutive month, Americans’ sense of financial well-being improved when taking into account debt, savings, net worth, job security, and overall financial situation.”

Bottom Line

There are several reasons, both financial and non-financial, as to why homeownership makes sense. It is nice to see that Americans have returned to a belief in homeownership as the best investment.

Follow Us:

Information Supplied by: Keeping Current Matters

Baby Boomers Are On the Move!

August 1, 2016 by CENTURY 21 Ed Pariseau, Realtors

Baby Boomers Are On the Move

According to a Merrill Lynch study, “an estimated 4.2 million retirees moved into a new home last year alone.” Two-thirds of retirees say that they are likely to move at least once during retirement.

As one participant in the study stated:

“In retirement, you have the chance to live anywhere you want. Or you can just stay where you are. There hasn’t been another time in life when we’ve had that kind of freedom.”

The top reason to relocate cited was “wanting to be closer to family” at 29%, a close second was “wanting to reduce home expenses”at 26%.

A recent Freddie Mac study found similar results, as “nearly 20 percent of Boomers said they would move closer to their grandchildren/children compared to 13 percent who said they would move to a warmer climate.”

Not Every Baby Boomer Downsizes

There is a common misconception that as retirees find themselves with fewer children at home, they will instantly desire a smaller home to maintain. While that may be the case for half of those surveyed, the study found that three in ten decide to actually up-size to a larger home.

Some choose to buy a home in a desirable destination with extra space for large family vacations, reunions, extended visits, or to allow other family members to move in with them. According to Merrill Lynch:

“Retirees often find their homes become places for family to come together and reconnect, particularly during holidays or summer vacations.”

Bottom Line

If your housing needs have changed, or are about to change, let’s get together to discuss your next steps.

Follow Us:

Information Supplied by: Keeping Current Matters

The Number 1 Reason to Sell Now… Not Next Spring is…

SUPPLY and DEMAND!

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2016:

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.

Bottom Line

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.

Information Supplied by: Keeping Current Matters

Share this:

Why Pre-Approval Should Be Your First Step

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

Capacity: Your current and future ability to make your payments

Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash

Collateral: The home, or type of home, that you would like to purchase

Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

Information Supplied by: Keeping Current Matters

Share this:

What Would a Millennial Baby Boom Mean for Housing?

Recently released data from the National Center for Health Statistics revealed that 1.3 million Millennial women gave birth for the first time in 2015. There are now over 16 million women in this generation who have become mothers.

“All told, Millennial women (those born between 1981 to 1997) accounted for about eight in ten (82%) of U.S. births in 2015.”

“The rising age at first birth is hardly limited to the Millennial generation. It has been a trend since at least 1970. Many factors may contribute, including a shift away from marriage, increasing educational attainment and the movement of women into the labor force.”

Do Millennials Want to Be Parents?

“While Millennials may be delaying parenthood, it’s not for a lack of interest in eventually becoming moms and dads. Members of this generation rated being a good parent as a top priority in a 2010 Pew Research Center survey.

Some 52% said it was one of the most important goals in their lives, well ahead of having a successful marriage, which 30% said was one of their most important lifetime goals.”

So, What Does This Mean for the Housing Market?

As Jonathan Smoke, Chief Economist for realtor.com explained: “At any given time in our history, demographics would explain 60-80% of what’s happening [in the market], and we are in a period of time where Millennials make up a largest demographic group.”

As more and more Millennial families are formed, this generation will shift their focus to providing the best home for their children to grow up in, the best school districts, and often to the stability that owning a home of their own provides.

Two-thirds of Millennials have not yet reached the average first-time home buying age of 32, as reported by the National Association of Realtor. The homeownership rate amongst Millennials has nowhere to go but up!

Bottom Line

Millennials as a generation have delayed traditional social norms until later in their lives. Whether getting married, having children or buying a home, the desire to provide for their family is still there, even if it takes a little while longer than it did for previous generations.

Information Supplied by: Keeping Current Matters

Share this:

Give your home a new look without buying anything. Rearrange your furniture to make your room feel brand new. Use these tips to try something new without spending a dime. Take some cues from our Friends and find a style that can last a day, a month, or maybe even a year.

1. Take measurements: Take measurements of the furniture and the space before you move anything. You don’t want to move something just to have to put it back again. Just ask our Friends: Ross, Rachel, and Chandler.

2. Position your biggest piece first: Start with the biggest piece of furniture because the placement will make the largest impact. Check your measurements first to make sure that everything will fit. As our Friends would say, just say no to pivoting.

4. Combat clutter: In the same sense of not cluttering a room, make sure your major elements are reflecting each other. If you have a fireplace in your living room put the “vintage” apothecary table on the opposite side of the room to balance it out.

5. Create distinct areas: If you have an open floor plan like our Friends create separate areas by grouping your furniture in different sections. You may want a separate area for rehearsing Smelly Cat, making a trifle, and playing with ducklings.

These tips will help you to create a new look that your friends and family will love. What are you waiting for? Start moving!

Share this:

Low-Cost Ways to Give Your Home a New Look

There are a lot of advantages to home improvement changes. They can make your space feel more modern, larger, and increase its value.

And the good news is you don’t have to be an expert handyman (or handywoman) to make easy and simple alterations.

Here’s how to better the look and feel of your home:

3. Paint the front door: It’s recommended that you repaint your front door every 4-6 years. (Williams Professional Painting.) Whether it’s a neutral or bold color, if you give a door a new look, it can change the outlook you have on the rest of the house.

4. Polish floors: A weekly sweeping of your hardwood floors isn’t enough. Polish your floors every three months with a urethane-based polish, which creates a protective layer against small scratches.

Make these small yet significant changes to your home, and you could be on your way to have your very own redesign at a fraction of the cost.

Share this:

How to Scare off Pests This Halloween

Plug the Gaps

Create a Chemical Barrier

Examine The Roof and Chimney

Check The Trees in Your Yard

Share this:

4 Reasons to Buy a Home This Fall

1. Prices Will Continue to Rise

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Remain at Historic Lows

Any increase in rates will impact YOUR monthly mortgage payment. A year from now, the percentage of your income that you spend on housing will increase substantially if you choose to wait.

3. Either Way You Are Paying a Mortgage

Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either your mortgage or your landlord’s. As a paper from the Joint Center for Housing Studies at Harvard University explains:

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Information Supplied by: Keeping Current Matters

Share this:

3 Questions Every Buyer Should Ask Themselves

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Answering the following 3 questions will help you determine if now is actually a good time for you to buy in today’s market.

1. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a recent survey by Braun showed that over 75% of parents say “their child’s education is an important part of the search for a new home.”

This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the four major reasons why people buy a home have nothing to do with money. They are: