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.