Combining Emotion and Logic for Your Next Real Estate Transaction

It is a well-known fact that people often buy out of emotion more than logic. This is obvious when you see advertisers appealing to a customer’s emotions for a product. It is true even in purchasing or selling real estate. It is one reason that what people want to buy may be very different from what they need.

Is Emotion Wrong?

At the height of the home-buying process just before the housing industry fell apart, many people were relying on emotions to buy their homes. They found the places they wanted and made the purchase regardless of whether they could afford it or even if it was a sound investment.

While that didn’t prove to be a good way of buying or selling properties. The other extreme doesn’t work either. You can find a house that meets all of your needs and looks good on paper, but you won’t be happy with it if it doesn’t make you happy (appeal to your emotions).

The Importance of Balance

It is important for either buying or selling a home that you combine the two, especially for buyers. The best way to make this a reality is to begin with the logical side. That is why it is a good idea to list your must-haves before you ever go look at a property. Also, take the time to figure your budget and know what amount is the top of your price range. When you go look at properties, stick with these guidelines so that you never lose sight of the practical side of buying a home.

On the other hand, don’t ignore the emotional side. If you see a property that looks good on paper but doesn’t feel like the right place, keep looking. It is unlikely that the home will grow on you in the long-term. Instead, you will be making a monthly mortgage payment on a property that you don’t like.

It has often been said that you will know when you find the home meant to be yours. Just make sure you are looking at only the homes you can afford and it will make sense both emotionally and logically. Contact me to help you find the right home to buy.

Get to Know Abbott Woods

Abbott Woods is a neighborhood located in East Lansing, Michigan. It is a small subdivision located off of Abbott Road. It is bordered by Abbott Woods Terrace and Abbott Woods Drive. While this is a small area, it is nearby many conveniences and amenities. It is within walking distance of a bus stop and an ATM.

For those who enjoy taking a walk or being close to nature, Whitehills Park is just a short distance away. Other nearby parks include Tamarisk Park and Henry Fine Park. If you prefer urban life, you have plenty of options, too. Enjoy delicious foods any time of the day from Big Apple Bagels for breakfast to Reno’s for a drink. The East Lansing public library is just a short drive on Abbot Rd. with the East Lansing High School nearby and Glencairn Elementary school close. MacDonald Middle school is also assigned to this neighborhood and is only 1.7 miles away. All of the schools have a high rating, which is important to families looking for a new home.

Just follow Abbot Rd to Highway 69 for easy access to the rest of East Lansing or to get out of town.

Homes in this area sell for around the mid-200’s with some under the $200k price tag. They are mostly single-family homes with many 3-bedroom, 2-bath places. The area would be ideal for young families, busy professionals working in the area or even retirees who want to enjoy East Lansing. Many of the homes in the area were built in the mid-1990s.

If you are interested in looking at homes in this area, give me a call. I can introduce you to the neighborhood and answer any questions you might have about the location. Contact me and let an agent who knows this area help you find your new home.

Capital Prime: The Newest Taste of Lansing

When you are house-hunting, you consider the neighborhood first. Along with safety and good schools, you also think about the best stores and restaurants. If you are planning to move close to the Eastwood Heights area or anywhere in Lansing, you want to check out Capital Prime. It is the newest steakhouse and seafood place and offers delicious foods to tempt your palate.

Located right behind the NCG cinema, it has plenty of room to accommodate up to 250 people. Host a fabulous party in one of the two private dining rooms. Besides a variety of meats, the restaurant tries to use local produce to create their fabulous entrees. Vegetarians can also find a variety of meals to suit them. A fabulous selection of wines and beers is included with a full dessert menu to finish off your meal.

In addition to a delicious menu, Capital Prime also features The Lounge, which becomes a fun piano and jazz bar with live local and nationally-known entertainment that can be enjoyed Thursday through Saturday evenings.

Capital Prime is sure to be a hit with the experience of the ownership team leading the way. Joseph Goodsir is the primary owner and is involved with many other eateries, including Harrison Roadhouse and The Riviera Café. His operating partner and the general manager of Capital Prime is Leonard Jump. The executive chef is Bassam Sharkas who has 23 years of experience in creating delectable menus that are unique and sophisticated.

If you want to try out this new hit in Lansing, the restaurant is open Monday through Wednesday from 4-10 and 4-12 Thursday through Saturday. On Sunday, you can enjoy a meal from 3-9. Make a reservation to enjoy Capital Prime. It has already been receiving rave reviews from visitors on the food and the atmosphere.

Is the American Dream Still Alive?

It has been a long way back from the housing crisis of 2008. In fact, statistics show that the U.S. is still nowhere near where it was before the boom that led to the bust. Does this mean that home ownership is no longer the American Dream? Is real estate not a viable investment in today’s world?

A Slow Return

The good news in the housing industry is that numbers have improved from where they went when the market hit bottom. The bad news is that the recovery isn’t complete yet. That doesn’t mean that it won’t happen or that something is wrong with the economy. To understand where the housing industry is and where it is going, you have to understand where it was.

At the height of the housing boom, more homes were being built than what had been averaged for the years before. The number of new homes being built today is higher than at the lowest point but nowhere close to the numbers before the recession. The reason for this is that it takes some time for the excess inventory to be reduced to normal.

Lost Confidence

Another problem is that many people have decided that buying is no longer the best option for them. They have chosen to rent instead as a more affordable choice. It takes some time for people to overcome the fears of home ownership after a recession. Over time, people will develop more confidence and forget about their fears and take the plunge. It may take several years for this to occur, but the housing market will recover gradually.

Another possible reason for the slow growth in the housing market is because more people are looking to alternative solutions. For example. Baby Boomers are downsizing and moving into condos and apartments instead of single-family homes.

Many people in the younger generation is saddled with higher student loans and problems finding a good-salaried, stable income. They can’t afford or qualify for the homes they want. However, once they overcome these issues and are ready to settle down, home ownership will become more appealing.

While the housing market has not rebounded like many had hoped, it is moving in the right direction and should continue to do so going forward. If you are ready to become a homeowner and are looking to buy a house, contact me. I can help you find the right place to call home.

How to Find Your Dream Home Within Your Budget

Imagine what your new home is going to look like. Fabulous cherry cabinets with granite countertops, an open floor plan, a large master bedroom with an amazing en suite bath. It’s time to get your head out of the clouds if you are a first-time buyer. Your home is definitely going to be special to you, but it probably won’t have everything you are looking for.

Get Real

What you have to remember is that when you are starting out, you won’t be able to afford everything you want. The goal is to find a starter home that has most of what you want and all of what you need. You can always move up later on.

Know What Matters

Figure out what really matters to you. It may not be the same thing as what is important to other people. This also means figuring out what you can live without. You may discover that you could be happy in a condo instead of a detached house. A condo is often less expensive while giving you the features that you love.

On the other hand, having a yard may be more important so you will settle for basic features inside. It’s all about compromise when you are buying your starter home, and you have to know what things are right to compromise on.

Consider an Older Home

While many people like the thought of moving into a brand new house that no one has lived in, you can get more for your money if you look at older homes. If you are willing to work with a fixer, you may even get a better deal. You can work on making it what you want over time and add value to the property. It is often a smart decision if you can live with a house the way it is now and see its potential.

Be Willing to Move

From your desired location, that is. Some neighborhoods are more expensive than others. If you do not want to sacrifice on the house you want, you may have to be willing to compromise on location. In some areas, you can barely get a 1,000-square foot house for a decent price. Move a few miles away and you can find a sprawling home with plenty of room and the latest upgrades for the same price.

In the end, it’s all about compromise and knowing what will make you happy and what you can live without. Be prepared to make some changes in your mind as you search for the dream home you want. If you are ready to begin that journey, contact me. I can help you start your search for the home that is right for you.

Why Won’t Your Home Sell?

Each day that goes by without an offer on your home when you are trying to sell can feel like an eternity. You are limbo, waiting for someone to buy your house so you can move on to the next stage in your life. The key to selling your home when you don’t have buyers beating down your door is to figure out why it isn’t selling now.

The Wrong Price

A house that is priced too high won’t sell. Period. To find out what your home is worth (not what you think it is worth) is to see what other homes in the area are selling for. Ask your agent for his or her advice on pricing. Don’t forget that agents see a lot of homes and will know how yours compares to the competition.

Lack of Promotion

People used to drive around and look for houses with For Sale signs in their desired neighborhoods. Now, people search online before they ever take the next step in house-hunting. If your house is not listed prominently online, no one may even know it is for sale.

It Has Problems

Is it obvious that your house is outdated or worse, in poor shape?  Does your decorating preferences hit people in the face when they walk in? Whether you have serious repair issues or design problems, these are things that can keep people from making an offer on your house. Your agent should be asking buyer’s agents for feedback and figuring out what needs fixed to make your house sell.

Make Sure It Sells Well

Take a look at your house through objective eyes. If you see personal touches, get rid of them. This includes photos, knick-knacks, even color schemes that are too limited. Remove anything that can keep buyers from imagining themselves in a home. It might be too much furniture, too many pictures on the wall or even an odd-looking art piece.

If you work on these issues and partner with a reputable, experienced real estate agent, your home will sell. Contact me if you are ready to sell your home and need help.

Living in a Home You are Selling

Living in a home while it is on the market is often a stressful situation. That place where you spent your last few years now feels like a stranger’s home. Or you are worried that someone will want to see the house and you will have stuff lying around. Here are a few tips to make it easier to live in a place with a For Sale sign without losing your sanity.

Use Storage

Start packing for your move. Consider what you don’t need and either sell it, throw it away or pack it up. Pack out-of-season clothing, photos, knick-knacks and even the guest room. If you have a lot of furniture, pack that up and put it in storage. Just keep out a few pieces for you to use and that looks nice for showing.

Sort magazines and even your books or toys to see what you can live without for a few months and pack it away. It will be easier to keep your home clean if you have less stuff.

Clean

Go through your house and clean it from top to bottom. It will look good for open houses and showing. In addition, it will be easier to clean when you get a last-minute phone call asking to see the house right away. It also reduces the stress because you might only have a few things to pick up or a counter to wipe down to make your house sparkle and shine. At the same time, you can relax and enjoy being at home because you know it won’t take much to get it ready for visitors.

Lock Away Valuables

Whether your agent is holding open houses or just hosting showings, people will be going through your stuff. Keep private items and information locked away. Don’t just hide them since people will be looking in drawers and closets. Lock them away where you know where to find things you need. Remove valuables, especially small items like jewelry.

Deal with Pets

If possible, it is ideal to send your pets to your family or friends’ houses while your home is on the market. Otherwise, keep them contained and clean up after them immediately. Crate the cat and dog when the house is being shown to avoid scaring or distracting anyone.

Create a checklist of last-minute things that must be done when you get the call for a showing. This ensures that you leave the house looking good and that it takes minimal time. For instance, you want light left on and the right temperature. You can even set out a basket of fruit or a vase of flowers to be a warm welcome. Spray a fresh scent to make the place feel inviting and clean.

If you do the necessary work, it won’t take long for your house to sell and you won’t be living this way for more than a few months. If you are ready to sell your home, contact me and I can help you get it on the market.

Finding the Right Selling Agent

One of the first and most important steps you will take to sell your home if finding the right real estate agent for the job. Your first thought may be to use the same person that helped you buy your first house. That may be a good choice but before you settle on him or her, make sure that the agent is the right person to sell with as well as to buy with.

Look for Experience

You want to work with an agent who has had success with selling other homes, especially those in your area. If so, that person will know the current market and what prices other homes in your neighborhood are bringing. While he or she can do the research, the information will be more accurate and timely when comparing other houses.

Look at Reputation

It doesn’t take long for any professional to get a bad reputation, but it can take some time to establish a good one. Ask around and find out what others have to say about the agent you are considering. Someone should be able to tell you of personal experience.

Look for Local

An agent that is local to your area is essential. Not only can that person provide better information, they can give more details to buyers’ agents. A local real estate agent can tell others about the schools, the neighborhood and other details that someone not familiar with the location won’t know. It is those details that can make a buyer decide he or she wants the house and help your home sell faster.

Look for Someone Current

With more people looking online when they buy homes, you want your agent to be comfortable with the internet. He or she should have a strong online presence and know how to use social media and other online marketing techniques to his or her advantage. Check out other listings by the agent and see how they are being marketed. The homes should look appealing and you should see postings of them on social media sites as well as the typical realtor sites.

Consider Personality

Since you will be working closely with your agent for the next few weeks or months, you want someone that you can get along with. You want to be able to be upfront and honest with that person, and you want him or her to do the same with you. Having a positive, professional relationship with your real estate agent is essential to help your house sell fast and for the most money.

If you are ready to sell your home, contact me and we can meet to see if we are a good team.

Reasons You Could Lose Out on a Home Loan

If you are applying for a mortgage or plan to in the near future, you need to be careful with your funds. You know that having a steady income and good credit are important to being approved, but other factors could result in a denial.

Lending Money

If you have a family member come to you for a temporary loan, you could get turned down for a mortgage if you say yes. That may not seem fair, but you may be required to keep a certain amount of money in reserve for your application to be approved.

Your lender will ask what money you have in savings and checking accounts. That money may be used to calculate your down payment or reserve money for future payments. If it disappears or is reduced because you loaned to a friend or family member, you may no longer qualify.

The same holds true if you use the money to buy something. Most lenders recommend waiting to make large purchases until after you close on a home.

Changing Jobs

Getting a different job in the middle of a home purchase is also not a good idea. If you have received a salary increase, it may not lead to a denial, but it could still cause a delay. However, if you take a pay cut or even switch fields, your loan application could be denied if you are seen as an increased risk. You will need to show 30 days of income with your new job prior to closing. In addition, if part of your salary is based on commission, it won’t count with a new job.

Closing an Account

Don’t close out any accounts during your loan process. Even if you don’t use them, they can make big changes in your credit portfolio that could change your approval. Each open account impacts your total credit available and length of credit history. This can change your credit score and lower it to below the required number. Even paying off a balance is not a good idea without talking to your lender first.

Avoid doing anything to change your finances, income or credit until after you have closed on your home. It will make the process go much smoother and prevent your approval from being turned into a denial.

If you are ready to buy a house, contact me to help you find the right place.

Why You Need a Realtor to Price Your Home to Sell

You can easily go online and find out what price you should put on your home when you are ready to sell. However, that may not be the best way to get the highest or even the most accurate price for your property. Instead, it is best to work with a real estate agent who can go beyond automated systems and give you real numbers.

How Automated Systems Work

These automated sites don’t do a bad job in pricing properties. They have a solid method that calculates the value based on what other homes similar to yours have sold for in recent months. These sites, called automated valuation model sites or AVM for short, use information that is available publicly. They may come from listing services and other data from your region.

Why You Need a Real Estate Agent

While these tools are pretty interesting to use and provide a valuable service, you are selling yourself short if you rely on them. Instead, think of them as a starting point to give you an idea of what your home might be worth.

One reason you should not rely on the tool as your sole pricing agent is that it is not always accurate. They may be off as little as 5 percent or as much as 20 percent. If your house is priced off by that much, you could either lose out on money for being underpriced or on buyers by being overpriced.

Market data is an important of the pricing process. However, it is not the only aspect you should consider. For instance, these tools won’t take into account whether you have made major upgrades to your older home. It also won’t consider what work still needs done.

Bonus features for the area may also overshadow market value. For instance, if you live near one of the best schools in the state, your home may be worth more than market data reflects. Walkability of the neighborhood may also be reflected in the price.

Realtors know your home and others in the neighborhood. They actually visit your property and comparable homes in the area to prove their price is the right one. An agent can rely on past experience to help them make the right decision for your home’s price. While automated tools can be a valuable addition to selling a home, there is no replacing the real-world experience and past performance of real estate agents to help you get the best price for your home. Contact me if you are ready to price your home to sell.

Is Saving for a Home Impossible for Millennials?

One of the issues that have come about because of the housing crisis is the problem of saving for a down payment. Buyers got spoiled to the idea that they could buy a home with 100% financing. Of course, this was one reason they ended up underwater on their mortgages. With the crisis came stricter requirements from lenders to qualify for homes. One of those restrictions was a resurrection of higher down payments.

Back to the way it was

The idea of having 20% down to buy a home has halted a lot of buyers, especially first-timers. However, this is not a new restriction. In fact, back in the mid-20^th century, 20% was considered reasonable for a down payment. In fact, it was not uncommon for lenders to require 40-50% down for financing. It’s just quite a change from where buyers were five or ten years ago.

Fast forward to today

Today’s home buyers aren’t saving the money they need to buy the homes they want. At least not at the level you would expect. They aren’t ready to give up the other things on their list of must-haves or just “I wants.” However, saving for that big purchase of a home doesn’t have to be the impossibility that some people see. Here are some ways that you can start saving for the down payment without giving up your latte.

·         Sell stuff – find things you own that you no longer use, sell them and put the money in savings.

·         Delay other purchases – do you really need that new living room set right now? Wouldn’t it look better in a nice new home?

·         Freelance or take on a second job – find something you like to do and charge for it. It may be babysitting, designing brochures, or even teaching a class, but that extra cash can go into your house fund.

Start saving up money to buy your first home. Even if you could get a loan with no money down, just think about how far ahead of the game you are with 10-20% down. If you have been saving and are ready to make that big purchase, give me a call. I can help you find the right house to fit your lifestyle and budget.

Are You Ready for a Mortgage?

Everyone is telling you that now is the time to buy before interest rates go up and your dream home is unaffordable. But buying a house just because it is a good idea doesn’t mean it is right for you. While you may think of the benefits of home ownership, you have to be ready for the challenges, too. Here are a few indications that you are ready to take that next step.

You have a down payment.

You have been saving money for your down payment. Even if you don’t have a lot saved, the act of putting money aside shows you are ready to become a home owner. You can find some special programs like FHA loans that don’t require a huge down payment.

You are dedicated to your budget.

You have a budget that you faithfully follow and are willing to do without some things if they don’t fit in your calculations. As a homeowner, you are going to have costs related to upkeep and maintenance of the home, so you need to know how to live within your means.

You know what you want in a home.

While you do need to be flexible about the home you choose, certain things are non-negotiable and you know what those are. Buying a home is much different from renting; you can’t just pick up and leave. You can be sure that you are going to be happy in the neighborhood and home you select for at least five to seven years.

You know the difference between wants and needs.

Buying a home that fits your family is important, but many people have the wrong idea about what they really need. Enough bedrooms, a good school district and a location close to work are items that are needs, essential to your happiness. However, finding a home with stainless steel appliances, walk-in closets or the perfect paint job are just wants that you can do without. It’s important that you understand the difference.

You can accept less than perfect.

No house is perfect and you must accept that before you can find the house you are meant to have. You must realize that no house is going to have everything you want. Instead, it will be your job to make the house you choose into your home.

If you understand these five concepts, then you are ready to buy a home. Give me a call and I can help you find that place that fits you and your family.

The Biggest Problems Sellers Have with Buyers

Buying or selling a home can be a stressful time. For sellers, they often have to figure out how to buy and sell at the same time or out-do the competition down the street to get the best selling price. Buyers worry that they may not find the homes they want or the sellers won’t accept their offers.

Here is a list of things buyers need to be aware of to avoid irritating the seller and to have a better chance of getting their offers accepted.

Be Courteous at Showings and Open Houses

Often the seller isn’t present when a home is shown, but that doesn’t mean the buyer can act anyway he or she wants to. Treat the house like you are a guest – after all, it’s not your home yet. Take off your shoes if they are muddy or the seller has asked for this in the showing instructions. Close doors carefully and don’t mess up or rearrange items. Keep your kids under control and don’t let them bounce on the furniture or do other things they might at home.

Cancel an Appointment If You Can’t Attend

One of the biggest pet peeves of a seller or his agent is when buyers make an appointment to see the house and then don’t show up. Sure, they understand that things come up, but a phone call is expected. The seller takes a lot of time to clean up and get out of the way, so be considerate of their time and inconvenience you cause by missing an appointment.

Don’t Pick Apart a House

Sure, there’s bound to be some things wrong with a place, but if you plan to put in an offer, don’t start listing them. Skip the complaints about wall colors or carpet; those are easy to change out. Instead, focus on big issues if you find any and explain why you still want the house if you are requesting them to be fixed.

Be Reasonable with the Contract

Buyers may try to take charge of the negotiations and start asking for a bunch of concessions or changes. This annoys a seller, especially if the requests are troublesome or unnecessary. For example, pushing the closing date. Buyers must understand that the seller has to move out and find a new place to live and be flexible.

When buyers are considerate, reasonable and put themselves in the seller’s shoes, it makes the entire process go smoother for everyone.

What the Second Half of 2014 Will Bring for the Housing Market

It has been a roller coaster ride for the last couple of years whether you are a buyer or seller. In 2013, you watched prices for homes skyrocket up from the bottom. The first half of 2014 saw the market stall, causing many to wonder what would happen next. Now that it is the busy season for the housing market, what will the rest of the year be like? Many experts have their predictions.

Steady but Sure

The theme for the second half of 2014 is steady but sure. Housing prices will continue to climb but at a much slower pace. This is good news for both buyers and sellers. Sellers who have been hesitating to put their homes on the market will feel more confident, which means that buyers will have more to choose from even as the market slows for the fall and winter season.

This change also means fewer bidding wars as people hunt for bargains. With fewer foreclosures on the market, most homes will be priced close to what they are worth. However, inventory will continue to increase as more sellers can finally afford to sell with rising home prices.

New Homes and New Buyers

New home construction is still sluggish in much of the country. This is expected to change in the coming months but at a steady pace. Overall, inventory will continue to go up, giving buyers more options.

One of the issues has been the low number of first-time buyers who are making purchases. They only comprise about a quarter of those who are purchasing homes in 2014. Many reasons have been given, but one of the primary causes is in rent vs. buy. Those who are moving out from their parents' homes are looking to rent instead of buy. This can be seen in the large demand and increasing inventory for apartment buildings.

From what experts are saying, the second half of 2014 may be a great time to buy or sell with better inventory, continued low rates, improved prices and less competition.

If you are ready to buy or sell your home, let me help. I can make the process easier and have you moving on to the next chapter of your life.

Learning about Home Maintenance

First-time homebuyers feel a thrill when the keys to their homes are finally placed in their hands. They may begin planning how they will decorate, what furniture they need to buy or when they will host their first parties. Home maintenance is seldom thought of until something goes wrong.  If you want your home to continue to look and work like it did when you first walked through the door, you will have ongoing maintenance to manage.

Heating and Cooling

One of the biggest expenses in a home is replacing a furnace or air conditioner. To postpone that purchase as long as possible, you have to take care of the systems from day one. Unless you are buying a new build, schedule a visit from a professional to look at your heating and cooling systems. They can clean the air filters or replace them and do other preventative maintenance to keep everything running smoothly.

You can learn to replace your own filters. You should check them at least once a year or more often if you have pets.

Fireplaces

If you have a fireplace or wood-burning stove in your home, you need to have a professional check and clean the chimney before you use it. This prevents the likelihood of a house fire when you start using your fireplace. This is a job for professionals and must be done every fall before you build your first fire.

Gutters and Roofs

You must clean out your gutters to ensure proper water runoff. Otherwise, it can leak onto your roof and along the house line and cause damage. When cleaning the gutters, take time to check the roof as well. Look for any broken or damaged shingles and have them replaced.

You need to check your gutters every spring and fall and inspect your roof at the same time. If you have a strong storm known for doing damage, you will want to do a quick check then, too.

Caulking

There are two areas that homeowners need to be concerned about for caulking. First, the windows. This keeps the air from getting around the cracks. Keeping your windows sealed will improve heating and cooling efficiency and help you save on utility bills. In addition, it prevents water from getting in and damaging your home. This is a DIY job so it won't cost you much, except for the price of the caulk and your time.

Check the caulk on your windows every fall, but you may not have to do it every year.

The second place to caulk is around your tub. Check it around the floor and the walls by the tub to make sure the caulk is tight. If it is loose or missing, recaulk it. This prevents water from causing damage. At the same time, check the seal around the toilet.

Other typical maintenance for homeowners includes inspecting the exterior paint for peeling or cracking and power-washing it to keep it clean, checking decks for damage or to re-stain and inspecting the crawl space for water leaks.

By doing regular home maintenance, you can prevent a lot of costly issues. It also allows you more time to spend enjoying your home rather than making repairs.

How to Sell Your Home This Summer

Summer is the hottest season of the year for the housing market. If you are ready to sell your home now, you will have a lot more buyers looking. Of course, the competition is fiercer now, too. Here are a few tips to help you beat out the competition and have the buyers beating your door down with fabulous offers.

Look Beyond the Walls

Summertime is about being outside and enjoying the warm sunshine, the pool and back yard barbeques. What this means for sellers is that they need to think beyond the inside of their homes if they want to appeal to buyers. Spruce up the landscaping and create an outside oasis. This doesn't mean you have to spend a fortune. Find a cheap table and chairs set and use a can of spray paint to make it look like new.

Stay Cool

Make sure your home is nice and cool for open houses and showings. This is an important rule to remember, especially if you have already moved out. Sellers often try to keep down costs and may not turn down the thermostat to an optimal comfort level.  Not only will buyers be more likely to linger and look around if the house is nice and cool, they will know that the AC is in great working order.

Provide a Cool Welcome

Buyers often tour multiple open houses and in the heat this can leave them tired and cranky. Make your home a memorable stop with cool refreshments. They won't be in a hurry to leave and will remember your place as the house "with the delicious lemonade" when they are reviewing what they saw. Even ice water will be enough to win them over.

The hot days of August are here and with them, tired buyers who just want to find a place they can call home. Make yours stand out when they walk through your door. Let it speak to them of coolness and comfort and you just might find a great offer on the table. That is a fantastic way to end the summer.

If you are ready to sell your home this summer or if you happen to be looking to buy a new home, give me a call. Contact me and I can help you sort through the listings to find your dream home.

Pending Home Sales Moving Upward

The numbers looked much better in May for home sales with the release of that month's statistics for the Pending Home Sales Index. It showed that the Northeast and West had the best improvements, but general numbers were up from April by 6.1 percent. In fact, the Northeast was the only area that showed improvements over 2013.

While this is good news for everyone, there is still room for caution. The numbers for May 2014 were still below what they were in May 2013. Many economists expect the home sales to continue to improve for the second half of the year, but may not be enough to make up for the first half of the year. It is expected that the totals for 2014 will still fall below those for the previous year.

First-time homebuyers were only about 27% of the numbers of pending home sales. The reason behind these low numbers is affordability coupled with lower credit scores and income. If you divide up the numbers between homes that were above $250,000 and those below, sales for homes that fell under $250,000 were down from 2013 by about 10 percent.

 There is good news for those who want to buy their first home though. Rent prices are expected to increase due to low availability. In addition, income is expected to rise and a slightly easier approval process should make it better for those applying for their first home loan.

Analysts do expect home prices to continue to rise even while existing home sales are expected to be below 5 million.

These numbers should not deter first-time homebuyers from jumping into the home buying process. Instead, it should inspire them to learn all they can about buying a home and what it involves and make sure they meet all of the requirements. It is also important to know how much home buyers can afford and not overextend themselves.

If you are ready to become a first-time homeowner, give me a call and I can show a variety of homes in your price range. With a reputable, experienced real estate agent on your team, it can make the process go much smoother. In no time at all, you will be a new homeowner.

How to Update Your Home for Free (Or Almost)

Before you list your home to sell, you should work to present it in the best light possible. This ensures that you get the most money from the sale of your home. If your budget is tight, you may not have a lot of money to spend, so here are some tips for free or almost free updates that you can do.

1.       Add fresh flowers in a few vases before an open house.

2.       Rearrange a room to improve traffic flow.

3.       Cover an old sofa with a throw and a few pillows.

4.       Remove items from the front of the fridge.

5.       Replace the pulls on cabinets or even dressers if your furniture will be in the home during showings.

6.       Replace photos of family members with ones you take of nature, landscaping or other ideas.

7.       Add a few houseplants.

8.       Hang a few hooks in the bathroom or entry if you are short on storage space.

9.       Use old wine bottles as décor.

10.   Make sure all light bulbs are working.

11.   Place a quilt over your headboard in the bedroom for some added color.

12.   Use a non-working centerpiece as a focal point with plants, photos or candles.

13.   Set the table with your best china in a dining room that you never use.

14.   Paint the legs of an old wooden chair and place it in a bedroom or entry for seating or use it as a side table to hold books.

15.   Create a wall of art with a group of pictures in frames – you can even use old postcards. This is ideal in a hallway or entry that is often overlooked.

16.   Use old mismatched cups to hold bathroom items such as cotton balls and makeup tools to clear off the counters.

17.   Look on Craigslist for free furniture to fill an empty room. Just make sure you can either cover it or that it looks decent.

These are just a few ideas to help you get started updating tired or worn areas of your home. Use wallpaper, spray paint or even cloth to cover areas that have been scratched, dented, or slightly damaged. Don't forget that even your furniture gives an impression of your home even though it isn't sold with the house. Make it attractive to enhance the imaginations of potential buyers for what they could do with the place.

If you need help selling your home or are looking to buy, contact me. I can help make your dreams a reality.

Economists Discuss the Economy and How It Relates to the Housing Market

The pace has slowed down for the recovery of the housing market, especially from what it was in 2013. Economists weigh in on why this is occurring and what to expect for the rest of 2014.

One economist from Freddie Mac gave an interview with HousingWire and said that the improvement in the housing market has been flat with lower demand for home purchases early this summer. Of course, it is expected to pick up with numbers looking better over the summer. At the same time, it is expected to have a slower pace than what was seen last year at the same time. Economists expect the numbers to continue to be below what was seen in 2013.

An economist with Equifax agreed with the perception of the current housing market. A weak labor market is impacting the housing recovery and any sign of stalling is a cause for concern. On the other hand, almost all of the states are showing improvement from 2013 and no areas of rapid decline.

Even the Federal Reserve chair Janet Yellen has said that the housing market has leveled off. Much of this is due to the rise of mortgage rates. At the same time, other numbers have shown positive indications. Existing home sales and new and pending sales have been showing an upswing.

One of the issues that has experts concerned is the fact that the market is still volatile. One area of the country may be booming while another area is stagnant. The numbers can even change between reports. This unpredictability has many analysts concerned.

Another area that has some worried is the lack of first-time buyers who are purchasing. With tighter lending requirements, it has left many interested home buyers out of the picture. While some argue that the change is necessary to prevent future crisis, it has also had a negative impact on the number of buyers that can qualify.

No matter what economists or other experts say, the housing market is in a better place than it was. Homes are still affordable and interest rates are still low. It is still a good time to buy.

A New Lansing Emerges

A lot has changed about Lansing in the last decade. In fact, if you compared what you see today with what was there just ten years ago, you would be surprised at how the city has grown.

Lansing is now home to new businesses and industries such as the two GM assembly plants and Spartan Innovations. Technology companies have made this city their home as well as improved cultural and educational opportunities.

Improvements have also come in the form of economic developments with attention to several areas for revitalization. These changes have encouraged more new businesses to make this city their homes, which has in turn created more jobs and increased population growth.

These changes have not gone without notice. In fact, Lansing made Kiplinger's Top Ten Places for Young People list as the place to work, play and live. It was the top spot in Michigan and placed sixth overall for high-tech job growth.

What the New Lansing Has to Offer

With these changes, the attitude in Lansing is changing. It brings a revitalized attitude that appeals to even more people. It has more to offer than the Lansing of old, including:

·         Michigan State University, a top-notch school

·         An international community that welcomes everyone through various activities, events and businesses

·         Increased focus on entrepreneurship, starting with the youth in the Youth Entrepreneurial Event

·         Diversity combined with community

While each area of Lansing is unique and offers something different for its residents, the city as a whole is one focused on inclusion. This combination allows the city to continue to grow as it welcomes people from all walks of life, which only increase its appeal to others seeking a new place to live.

If you are one of those people looking at Lansing as the place to call home, you will find much here to appeal. A welcome awaits you no matter where you decide to settle. I am familiar with many of the Lansing neighborhoods and can help you learn more about the area. Contact me if you would like to know more about a particular neighborhood or just want to check out some of the homes throughout Lansing.

Why Now is the Time to Sell Your Home

Data from the National Association of Realtors shows that the time for home owners to put their properties on the market is now. Information gleaned from the last two reports released by the NAR shows demand is up and inventory is down, helping to ensure that your home may sell faster and for more money. Here is a look at the two reports and what each one reveals about the current housing market.

Existing homes on the market

The report shows that more homes are on the market today than a year ago. However, with the current prices, that represents about a 6-7 month supply. The report showed 2.28 million homes for sale. At the current supply, it is considered a seller's market, but headed towards a neutral market and even potentially a buyer's market. What will push it in that direction? More new homes being built, which increase inventory.

As more homes are built, they will push down the values of existing homes. This is one reason why anyone planning to sell should do so now.

Pending sales are up

When you look at the pending home sales report, this tells you about the demand for homes. The numbers are up from previous months by a large percentage. It is also expected that this trend will continue for the next several months as mortgage rates stay favorable and more jobs are created. With more buyers clamoring for homes, they will push prices up until more new homes hit the market.

For homeowners, this means now may be the best time to sell your home to get the best price with less competition. For buyers, now is also good, but it looks to continue to be a great time for the next several months.

If you are ready to buy a home or sell one and buy a new property, give me a call. I can help you move on to the next chapter of your life with the right place to call home.

Costly Mistakes You Don't Want to Make When Selling Your Home

With the market continuing to improve, more people are putting their homes on the market. However, even with better prices and more buyers looking to buy, several mistakes that sellers often make can mean a lower price or even the possibility of not being able to sell your home. Here are some things to avoid to help you get the best price in the shortest time.

1. Going the DIY Route

One of the biggest mistake sellers make is trying to sell their homes themselves. They often think about the cost of commission, but what they don't realize is that real estate agents can help them get more money for their homes.

2. Setting the Wrong Selling Price

Most homeowners think their homes are worth more than they really are. Setting the price too high even if you are willing to negotiate can lower the interest you receive in your home from buyers. However, you also don't want to go to the other extreme and set the price too low just to be competitive.

3. Not Fixing Up Easy or Necessary Repairs

Many homeowners are ready to move on and not sink any more money into their homes. However, this can cause their homes to stay on the market longer or bring a lower price. It is better to spend a few extra dollars on important repairs or cosmetic updates that will improve the look and function of your house.

4. Not Staging Your Home

Even if you don't want to spend the money for a professional stager, you need to think about how your home looks to buyers. This includes putting away personal items and reducing clutter. This can open up a space and make your home attractive to more buyers.

5. Not Putting Your Home in the Best Light

This mistake can happen in various ways. One of the biggest issues is in the quality of photos provided. You want people to see your home and immediately fall in love with it, but that can only happen if you take good quality photos that show its best features.

Not hosting open houses is another problem. People need to be able to see your home without obligation and that often happens with an open house. You can attract more buyers by having regular open houses and ensuring that your home looks its best.

Avoid these mistakes and you will have a better chance at selling your home fast and for top dollar. If you are ready to sell your home and buy a new one, give me a call. I can help make your dreams come true.

Prime Investment: Duplex or Single-Family Home?

If you are thinking about buying your first home, you may wonder if purchasing a duplex is a better investment. You can live on one side, rent out the other side and have your mortgage paid by the tenant. Sounds good, right? Unfortunately, it doesn't always work that way.

Profit Potential

There is great potential for profit with a duplex or any multi-family property. However, many of them are over-priced because they have been bid up by investors that don't pay attention to the profit potential. Many of them don't even have a good cash flow.

So, how can you find a good deal? First, you want to know that the property will have a positive cash flow. You also want to know the numbers to determine if you are getting a good deal. The "numbers" consist of how much money is coming in versus how much is going out for the mortgage payment and maintenance, and how much the property will appreciate over time.

Get Professional Help

If you have never bought an income property, it is best to work with an experienced professional. Contact an accountant that can run the numbers on any property you are interested in to find out if it is worth your time and money.

Other Considerations

The benefits of owning an income property are numerous. It can often be a better way to start out home ownership than with a single-family home since you have a regular income to look forward to that helps pay for the mortgage. It not only gives you money now but has the potential to bring in income for the future.

One the other hand, being a landlord is a job in itself. It requires time and effort on your part to maintain a property that continues to bring in revenue. This is not meant to discourage you because real estate is an excellent investment. Instead, it is meant to encourage you to do plenty of research so that you are well-prepared for the challenges that await you. By doing so, you increase the likelihood that you will be successful in your investment.

If you are interested in buying an investment property, give me a call. I can show you what is available and put you on the path to real estate investing success.