The Impact Staging Your Home Has On Your Sale Price

Some Highlights:

• The National Association of Realtors surveyed their members & released the findings of their Profile of Home Staging.
• 62% of seller’s agents say that staging a home decreases the amount of time a home spends on the market.
• 50% of staged homes saw a 1-10% increase in dollar-value offers from buyers.
• 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own.
• The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room.

2019 Colors of the Year

It’s that fun time of the year where us paint color geeks look forward to the paint manufacturers announcing their annual “Colors of the Year”.  Most of the manufacturers have announced their colors in the last couple of weeks and today I’m excited to share the 2019 Colors of the Year with you from Sherwin Williams, BEHR, Ace’s Clark + Kensington, PPG and Dutch Boy.

Are Older Generations Really Not Selling Their Homes?

Many studies suggest one of the main reasons for the inventory shortage in today’s market of homes for sale is that older generations have chosen to “age in place” over moving.

The 2019 Home Buyers & Sellers Generational Trend Report by NAR clarifies this point!

NAR’s findings show that Baby Boomers (43%) and the Silent Generation (12%) made up 56% of sellers in 2018! This means the majority of sellers last year were over the age of 54. This also shows these generations ARE moving!

The report also shared the reasons why they chose to move. According to the research, the top reason was a desire to be closer to friends and family. Below is a full breakdown:

As we can see, they have plenty of reasons to sell their current home! But what type of homes are they trading in?
Once again, the report demonstrated that older generations are not keeping that 3-bedroom, 2-bath colonial home. Instead, they are putting it on the market and moving on with their lives!

Bottom Line

If you are living in a house that no longer fits your needs, contact a local real estate professional who can help you find a home that will!

Documents Needed For Mortgage

Here are all the documents needed for mortgage applications, so that you're fully prepared before you even see a lender!

Get Ready to Buy A House

Still a ways away from buying, but want to be responsible? No matter your timeline, these tips will help every aspiring homeowner get ready…

Benefits of Downsizing

Benefits of downsizing! timgrissett.com

Tips for Preparing Your House For Sale

When listing your house for sale your top goal will be to get the home sold for the best price possible! There are many small projects that you can do to ensure this happens! I will have a list of specific suggestions for getting your house ready for market and will help you with finding local contractors who can help! 

Moving With Kids

Why You Should Never Skip A Home Inspection

Before you buy a home, one of the things you should do is to have the home checked out by a professional home inspector. When you are purchasing a home, you want to know every strength and weakness your new home has. Having this information before you close is paramount for negotiations as well as maintaining your new home for the long term. Comprehensive residential inspections cover moisture, mold, attic, termite, structural, roofing, insulation, plumbing systems, heating and cooling systems, electrical wiring and electrical systems inspections. Never skip a home inspection.

First-Time Homeowner Checklist

First-Time Homeowner Checklist: What You Need to Do Before Moving In http://timgrissett.com 

Student Loans = Higher Credit Scores

According to a recent analysis by CoreLogic, Millennial renters (aged 20-34) who have student loan debt also have higher credit scores than those who do not have student loans. This may come as a surprise, as there is so much talk about student loans burdening Millennials and holding them back from many milestones that previous generations have been able to achieve (i.e. homeownership, investing for retirement). CoreLogic used the information provided on rental applications and the applicants' credit history from credit bureaus to determine if there was a correlation between student loan debt and credit scores. The analysis concluded that:

"Student loan debt did not prevent millennials from access to credit even though it may delay their homebuying decisions."

In fact, those with a higher amount of debt actually had higher credit scores.

"Renters with student loan debt have higher average credit scores than those without; and those with higher debt amounts have higher average credit scores than those with lower student loan debt amounts."

Bottom Line

Millennials are on pace to become the most educated generation in our nation's history, with that comes a pretty big bill for education. But there is a light at the end of the tunnel:

"Despite the fact that student loan debt has grown into the nation's second largest consumer debt, following mortgage, and has created a significant financial burden for millennials, it does not appear to prevent millennials from accessing credit."

3 Reasons to House Hunt During the Holidays

While others are hunting for deals on TVs, you could be hunting for your dream home. There are three really good reasons why house hunting during the holidays may actually be the best time all year!

1. ACCESS
2. Most everyone takes some time off around the holidays. A lot of people mistakenly put their house hunt on hold for a few weeks, this means you have more access to your real estate broker. YEAH! You will have their undivided attention! Also, homeowners are more likely to be away on vacation or home and more able to clean up and step out. This allows for ease of booking showings at times that are convenient for you.
3. VISIBILITY
4. Here in Atlanta at least, it is rare to have a “White Christmas”. The leaves are all down, the flowers have gone, and the grass has stopped growing. With a lack of measurable snow, this is the best time to visually inspect the home and surroundings. Foliage and flowers can hide a lot. That nice flowery bush might have been disguising rotted siding. Be sure to take a peek around the property lines now that there are no green leaves to hide what lies beyond in the woods. Also, this is a great time see homes all spruced up for the holidays!
5. EXHAUSTION
6. Yes you read that right… Exhaustion. Sellers are exhausted. As the market slows down a bit for the winter, they may have been on for a while. The kids are home from school. There is shopping to be done, special meals to be cooked, house guests and endless holiday parties to attend and host. Cleaning the house for another showing can be a real drag. Honestly, they just want to get it under contract so they can put their feet up and enjoy the holidays like everyone else. An offer could be the single greatest gift they get and your best chance at getting the home you love, at a price you can live with.

Ready to start your house hunt this holiday? Give us a call, we’d love to help! 

The Stuff Dream Homes Are Made Of

2016 aggregate dream home - Users chose a more vintage-inspired, mismatched look with DIY touches for the dining room and bathroom while the living room and master bedroom achieve a more practical and modern look. Rustic wooden floors punctuate the kitchen, creating an eye-catching contrast against the farmhouse-style white cabinets and brick-inspired backsplash. Finally, the closet adds a surprisingly innovative touch, ending the home tour on an uncharacteristically urban note. timgrissett.com

4 Reasons to Buy Your Dream Home This Winter

As the temperature in many areas of the country starts to cool down, you might think that the housing market will do the same. This couldn't be further from the truth! Here are 4 reasons you should consider buying your dream home this winter instead of waiting for spring!

1. Prices Will Continue to Rise

CoreLogic's latest Home Price Index reports that home prices have appreciated by 6.3% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year. 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 are Projected to Increase

Your monthly housing cost is as much related to the price you pay for your home as it is to the mortgage interest rate you secure. Freddie Mac's Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage are currently at 4.08%. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year. An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way You're Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord's. As an owner, your mortgage payment is a form of 'forced savings' that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity. Are you ready to put your housing cost to work for you?

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.

Investing in Real Estate with a Self-Directed IRA

5 Reasons Why Homeownership Is a Good Financial Investment

According to a recent report by Trulia, "buying is cheaper than renting in 100 of the largest metro areas by an average of 37.7%." That may have some thinking about buying a home instead of signing another lease extension. But, does that make sense from a financial perspective? In the report, Ralph McLaughlin, Trulia's Chief Economist explains:

"Owning a home is one of the most common ways households build long-term wealth, as it acts like a forced savings account. Instead of paying your landlord, you can pay yourself in the long run through paying down a mortgage on a house."

The report listed five reasons why owning a home makes financial sense:

1. Mortgage payments can be fixed while rents go up.
2. Equity in your home can be a financial resource later.
3. You can build wealth without paying capital gains.
4. A mortgage can act as a forced savings account.
5. Overall, homeowners can enjoy greater wealth growth than renters.

Bottom Line

Before you sign another lease, perhaps you should sit with a real estate professional in your area to better understand all your options.

Buying your first home can be a bit intimidating but it doesn't have to be! Contact me today and I can walk you through the process.

Are you ready?

Mortgage Interest Rates Just Went Up... Should I Wait to Buy?

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Along with Freddie Mac, Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors are all calling for mortgage rates to continue to rise over the next four quarters. This has caused some purchasers to lament the fact they may no longer be able to get a rate less than 4%. However, we must realize that current rates are still at historic lows. Here is a chart showing the average mortgage interest rate over the last several decades.

Bottom Line

Though you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago; a lower rate than your parents did twenty years ago and a better rate than your grandparents did forty years ago.