Blog - Sandra Meranda

December 1, 2015 by changescapeweb Leave a Comment

Why you shouldn’t wait for spring thaw to buy a home; The secret strategies of pricing

Now that the U.S. has regained its job-creation mojo, as the October employment report showed, the demand for housing is only going to grow.

After all, when people have jobs they can break off and form new households—ditching the roommates behind or finally moving out of Mom and Dad’s basement—and that’s what fundamentally drives home purchases.

Most of the households created over the past two years have been renting households, but based on U.S. Census data for the third quarter of this year, it appears that homeownership has started to recover.

This especially makes sense now that it is cheaper to own than rent in more than three-quarters of the counties in the U.S. And it’s not getting better— rents are rising year over year at twice the pace of listing prices. Meanwhile, mortgage rates remain at near record lows but appear poised to increase over the next year. And home prices are rising, too.

So if you qualify for a mortgage and have the funds for a down payment and closing costs—and if you intend to live in a home long enough to cover the transaction costs of buying and selling—you will be better off financially if you buy as soon as you can. After all, if you are tired of your current home now, you won’t feel better about it in six months.

The top factors driving home shoppers this summer were pent-up demand and recognition of favorable mortgage rates and home prices. These drivers will likely remain well into next year.

Yet demand for housing is extremely seasonal. In most markets in the country, we are conditioned to believe that we should buy homes in the spring and summer. So come each October, plans to purchase shift to the spring. While the school calendar and weather do influence the ideal time to move, many buyers would benefit from buying this fall and winter rather than waiting until next spring.

In October, the percentage of would-be buyers on realtor.com® saying that they intend to buy in seven to 12 months was the highest it has been all year and represented the largest time frame for purchase. Likewise, October produced the lowest percentage of would-be buyers saying they intend to buy in the next three months.

In other words, people’s stated plans point to a very strong spring for home sales. Great, right? But here’s the problem: Inventory isn’t likely to be higher in March and April than it is now. And while inventory should grow in late spring and into summer, it won’t grow as fast as the seasonal demand.

So, if you are ready, consider getting in the market now instead of early spring. You will have more choices and less competition, and you can lock in today’s rates rather than risk rates being 25 to 50 basis points higher. (A basis point is 0.01 percentage point.)

A 50 basis-point increase in rates (for example, from 4.05% to 4.55%) would cause monthly payments to be 6% higher. And that increase would not only affect your monthly cash flow but could also affect your ability to qualify.

So if you are considering buying a home this spring, it’s worth exploring the inventory now and reaching out to a local Realtor®. A new home could be the best gift you give yourself and your family this holiday season.

For more on this article from Realtor.com https://www.realtor.com/news/trends/reasons-to-buy-a-home-this-winter

P.S. Real estate is not slowing down yet this Fall! Homes are selling fast and for the highest prices in years! It is never too late to put your home on the market or for
buyers to call me to discuss the Fall & Winter market. Don’t miss out on your Dream Home, interest rates are still below 4%. Call me today for details!

November 11, 2015 by changescapeweb Leave a Comment

A Handyman can Help in Improving your Home

You can find a number of home owners who never consider home renovation and eventually the time comes when the property is needed to be sold. This might be because the home owners become desensitized to their living conditions and are no longer interested in improving them. The other reason might be the load of budget and the home owner is unable to afford it. This might be the biggest reason as majority of people do want to have changes but it is not very easy to get the changes done. The one and the only solution to this problem is to hire a handyman who is expert in performing different jobs for repairing home. These are expert in their jobs and are able to perform everything quickly and efficiently. The best thing about hiring the handymen is that they are very reasonable and can do your jobs as per your desire. They can belong to any background but they are skilled and can perform occasional repair works and renovations. They can be retired plumbers, carpenters or they can be teachers who are performing these jobs as a side business. Although they do perform small jobs like carpentry and other such odd jobs since many years and as a result they become quite efficient and expert in their profession.

It is also a good thing that you do hire some skilled handyman for your home repairs and then you can call them anytime when you have some work at your home. By keeping on calling the same person for your help, he will also get to know about your home and its system. As a result, they will know how to handle the job and fix many different things and will do it effectively and quickly. It will not be wrong to say that such a handyman will act like a property manager for you. It is also possible that you might have some jobs at your place which is sometimes not manageable by them and they can inform you that you need some other expert advice or help. Although these odd job men are very expert and professional but still there are many jobs that are not the cup of tea for them. Not only they can suggest you which help do you need but they can also suggest you some other odd jobber for performing this job. Obviously, they are going to suggest you the person who knows how to fix the things for you in the best way.

In short, these odd jobbers can really help you a lot in home improvement projects. You just need to find one reliable person for yourself. You can do this by going through the ads in the newspapers or on internet. Once you get the contact numbers of couple of handymen then you must call them and inform them about your specifications. Always provide them with complete set of specifications as not every worker knows to do all kinds of jobs. Your requirements will let them know if they can do your job or not. You can also refer the yellow pages and local directories for this purpose. The clearer and more descriptive information you are going to provide, the more right person you will get for your job who will do wonders for you.

Article granted by Ella A. on behalf of: Handyman Handy Ltd.

P.S. Homes are selling fast and for the highest prices in years! It is never too late to put your home on the market or for buyers to call me to discuss the Fall market. Don’t miss out on your Dream Home, interest rates are still below 4%. Call me today for details!

October 13, 2015 by changescapeweb Leave a Comment

Renovation Tips for Home Sales

Real estate and properties in general can be improved and renovated for added benefit and value, which makes them more likely to be sold with success. The tips of this article will give you more information on ways you can improve your home and to make it work better for sales purposes:

Insulation is one of the most important aspects of a home that need to be taken care of if you hope you have a potential future selling it on the market. You need to focus on ensuring your home has a good insulation you can count on. This will help when you need to make a sale, but it will also ensure whoever lives there will be able to enjoy the place without it needing more work.

You can add a deck to your property if it allows such an approach, which will let your future buyers and tenants benefit from it as well as you would. You can create a nice flow between the outdoor and indoor areas you have, creating a nice balance between potential activities people living in the property can really enjoy.

Refitting your kitchen is another good way of adding more value to your property, as it will let you bring about positive new changes into it that will last for many years. A more modern kitchen will go a really long way toward making the property more noteworthy for potential new buyers. You may need to get a moving company involved, especially if you need to move certain items out of your home and if they happen to be meant for another place. A moving company you know can also work when your potential new buyers need one to move in, so it would be a great way of working together.

Repaint and do your best to update the bathroom as well when you move on with the renovation, choosing colors that fit the rest of your home or wildly contrast with it, whichever one you like. The last thing you will need to have around your bathroom is to have it look old and battered, as this will be the best way to turn people away from your property. Make sure you keep things functional above them being top of the line and fashionable. Even if the bathroom looks fairly boring, if it happens to be working right and looking brand new, few people would actually have a problem with its looks, as long as they don’t cross the line into being too terrible with colors.

Something else you will need to deal with is working on the curb appeal of your home as well as other aspects. The outside is just as important as the inside, so you will need to be able to cover things well enough to make the sale easier instead of allowing your yard to look terrible. Fix up your garden and see whether you can repaint the outside of the building as well, transforming the entirety of it into something completely different with a few simple touches.

Article provided by Ella A. on behalf of: https://carpetcleaningbow.org.uk/

P.S. Homes are selling fast and for the highest prices in years! It is never too late to put your home on the market or for buyers to call me to discuss the Summer & Fall market. Don’t miss out on your Dream Home, interest rates are still below 4%. Call me today for details!

September 9, 2015 by changescapeweb Leave a Comment

The First Time Home buyers Guide to Mortgage

As a first-time home buyer you will have a lot to deal with at first. Since applying for a first time mortgage loan can be a really overwhelming experience. If you want to have your first home to be an easier experience, you will need to be ready for the big day well ahead of time. There are a few questions you need to ask yourself before you move on with the actual purchase of your potential new home and moving in:

How much of a home can you really afford?

It is not quite uncommon to be able to qualify for a larger mortgage than you can really afford, but you would do well to borrow money with caution. Although it may seem like a lucrative opportunity to get a greater home than you can afford now, it will easily turn out as a serious mistake in the long run. Always make sure you have a good safety net in terms of your monthly budget so you won’t suffer financial woes at the end of the year. A mortgage calculator will help you out, but you would still do well to talk to your real estate agent to ensure you are fully aware of what you’re getting into.

How much mortgage can you afford to borrow?

There are quite a few things you need to consider, such as your overall monthly income, your credit history, employment and residence history as well as the size of the down payment. Depending on the circumstances involved, you may be given the opportunity to go beyond your safety margin, so be careful.

What will you need to pay up front?

There are some costs you will need to safely cover before you begin making your regular mortgage payments, such as closing costs, mortgage application fees, down payment and earnest money.
Mortgage application fees will include service fees, which may be flat fees covering 1-2% of the total final price of your property. There will also be credit report, appraisal and underwriting fees that may be added to the closing costs.
Earnest money is essentially the initial deposit that needs to be paid to the seller if the offer is accepted, showing your resolve to buy the property. Sometimes there are multiple bids on a property and the earnest money deposit you place may influence the decision of the seller, so keep that in mind.

Down payment is usually the best way you can get a better mortgage rate in the long run. Down payments can range up to 20% of the total cost of your potential new property, where 15-20% is the ideal range if you want to keep your mortgage low. Paying up front will help lower the interest of your mortgage further down the line.

Closing costs usually range from about 2-4% of the entire loan amount you will need to pay off. Closing costs may sometimes even be a part of the entire mortgage loan amount, meaning you will be paying them off as time goes by and you pay your mortgage the usual way. These may include mortgage application fees, attorney fees, surveys and inspections, insurance and more.

Home ownership expenses

There will be more you need to commit to once you have a home, since other expenses need to be figured into your calculations as well. Mortgage insurance will usually be needed for mortgages with down payments of less than 20%, home insurance, maintenance and utilities as well as property taxes will also need to be considered into your monthly balance. You should take all of these into account when you commit to a home mortgage and you end up moving house successfully.

Saving money and planning ahead

If you want to save up for your new home, then there are some things you can do to make it happen. For example, saving for a higher down payment will mean a much lower set of payment later down the line. Maintaining a reliable income will allow you to improve your standing with lenders. Combining your stated income with your spouse will allow you an additional advantage, as well as paying your bills on time for a good credit score. Limit your monthly budget as well for a better credit score in the long run. What you should be aiming at is a mortgage that is less than 28% of your total income for an optimal result. When all is said and done moving into your new home with a moving company will give you peace of mind, knowing your monthly expenses are under control.

Article provided by Ella A. on behalf of: wandsworthremovals.com

P.S. Real estate is still heating up for the Summer! Homes are selling fast and for the highest prices in years! It is never too late to put your home on the market or for buyers to call me to discuss the Summer & Fall market. Don’t miss out on your Dream Home, interest rates are still below 4%. Call me today for details!

June 29, 2015 by changescapeweb Leave a Comment

5 Big Spring Selling Mistakes Clients Make.

Next to sunshine and lead surges, seller slip-ups are one of the most common things. Each year, too many sellers find innovative ways to kill a deal or chance at maximizing profit.

Here are five too-common follies to keep an eye out for this year and a few suggestions for keeping your sellers, and commission checks, safe:

1. Banking on the Overnight, High-Dollar Sale

All the news points to the heat and low-inventory trends in today’s market. The good news is, many sellers have the confidence to get in the game. The bad news is that too many will do so thinking they will sell for top dollar in a flash.

According to Ralph McLaughlin, Housing Economist, “What’s quickening the pace of sales? It turns out it’s homes priced at the low end of the market.” National numbers show that homes are selling slightly faster than normal, but your sellers need to know that quick moves require competitive pricing.

2. Under-Staging

Too many sellers think “low inventory” means low competition. When pickings are slim, updates become much more important. If buyers believe there’s limited opportunity to get the home they’re dreaming about, an understaged listing can demotivate the already anxious.

Here, scare tactics might be one the best ways to get your sellers to see the light. Show them shockingly competitive, similar homes in person and online.

3. Unwanted Buyer Gifts

Contrary to many sellers beliefs, most buyers don’t want to make critical repairs and updates when making a purchase. Anytime you hear a seller say, “We’ll leave that for the buyers,” remind them they need a buyer to actually close the deal.

Also, show your sellers the real value of making critical repairs. Check out NAR’s 2014 comparison of repair costs vs. resale value of home repairs for real numbers on how much they stand to make with improvements.

4. Scenting Strain

In an effort to “sweeten” the showing, some sellers can go too far. According to agent Genevieve Gheorghiu, “I find when sellers try to make their houses smell TOO good, it can be just as awful (as bad smells).”

As a part of your staging plan, don’t leave the “scenting” to chance. Recommend some of these easy smell-neutralizers that are guaranteed to deodorize without overwhelming:

Bowl of Vinegar Overnight — Sit a bowl of vinegar in a smelly room overnight and it will help soak up the unwelcomed odor.
Happy Hour Spray — Add 2-parts water and 1-part cheap vodka into a spray bottle and spray almost any area in the room. The mixture grabs the smell and evaporates.
Have Coffee and an Orange — Coffee grounds and orange peels are great odor neutralizers. Add one of them to a bowl in the room, inside the trash can, or down the garbage disposal to ensure showing-friendly smells.

5. Not Protecting Privacy

Like it or not, showings can be an information security risk sellers don’t consider in the excitement of trying to sell. As a part of your “decluttering” conversation, be sure to discuss “what lies beneath” with your sellers. From important documents to valuables, like jewelry and electronics, get your sellers to think about things they need to protect from the strangers that will be roaming through their homes.

These are big five faux pas we’ve seen too often from sellers marketing during the start of the hot season. What would you add to the list?

for more on this article go to: https://www.trulia.com/pro/sellers/5-big-spring-selling-mistakes-clients-make/

P.S. Real estate is booming! Homes are selling fast and for the highest prices in years. It is never too early to get your home ready for the market or for buyers to call me to discuss the market. Don’t miss out on your dream home & interest rates below 4%. Call me for details today!

1. Banking on the Overnight, High-Dollar Sale

2. Under-Staging

3. Unwanted Buyer Gifts

4. Scenting Strain

5. Not Protecting Privacy

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