Tip Tuesday: Real Estate In the Fall

Yes the rumors are true….Spring is prime real estate season but we love Fall real estate.  In our opinion, its a great time for real estate!  And the facts prove it.  For the first time in history, in 2016, October surpassed June in home sales.  

fall image
Photo Credit: realtor.com

Here are our top 3 reasons to sell & buy in the Fall:

Selling

  1. People are serious: Usually, people are trying to beat the winter and get settled in before the snow melts.  They want to be “home for the holidays” in their new home!  You’re most likely not getting buyers that are “poking around” or just casually browsing.  They want to move immediately so they’re not wasting anyone’s time.
  2. You’re the center of attention:  There’s less competition, fewer houses on the market and less open houses.  Your home will stand out more and get seen by more buyers.
  3. Your Home Is Cozier:  Let’s face it there’s nothing quite like New England in the Fall.  Mums outside on the porch.  Cinnamon smelling treats inside.  Fireplace lighted.  When your buyers feel an emotional attachment to the home, they’re more likely to make an offer.  Play up the season and decorate the outside of your home to have Autumn curb appeal and create a cozier atmosphere inside (maybe new, warmer paint colors…touches of yellow, orange and red in the decor of your home).  Pay attention to the details that make your home stand out from just another house to someone’s new home.

 

Buying:

  1. People are serious:  Sellers who have homes on the market in the Fall usually need to sell.  They either have a job relocation, had a home built over the summer and now its ready or (same as buyers) want to move before that winter weather rolls in. There are also less buyers out on the market so it tends to be a season known for good, fair negotiations.
  2. You can take advantage of tax breaks: The property tax and mortgage interest deductions that you can take from buying a new home can make a serious difference in the amount that you owe to the government even if you closed in December.
  3. Mortgage Rates Expected to Rise: Mortgage rates are expected to increase over the next 12 months according to Freddie Mac, The Mortgage Bankers Association, Fannie Mae, and the National Association of Realtors.  This means that a year from now your monthly mortgage expense will increase if you don’t lock in the current rates.

 

As you can see, just because Labor Day has passed doesn’t mean your opportunity for Real Estate has.  Looking to see what your home could be worth or want to browse for homes in your area?  Check out our website and then contact us!  We want to prove to you why you should love Fall real estate as much as we do!

Tip Tuesday: Make Sure You Home Smells to Sell!

lemonYou’re selling your home and you have a showing today! Great!  Getting people in the door is half the battle so you’re on the right track.

Now is your home ready?

  • floors are cleaned…check!
  • beds are made…..check!
  • no laundry lying around….check!
  • drapes/curtains are open to let in lots of light…..check!
  • front walkway/landscaping looks beautiful to add curb appeal…..check!

It sounds like you’re home is ready to impress, but wait….how does it smell?  

  • Did you pop some popcorn earlier?  
  • Can you smell the garlic from last night’s dinner?  
  • Does the trash need to go out?  
  • Is there a dirty diaper lying around?

You may think you’d notice these things right away and if you don’t smell it then you’r fine, but not always the truth.  Someone walking into the home may smell something immediately that your nose has become neutral to.  So is your home smelling to sell?

To sell your home you want light, clean and neutralizing smells. There are lots of things you can do to neutralize smells.  For example, place all old shoes in a plastic covered bin or remove all pet cages/toys/bedding for a showing.  But, you always want to add light smells that seem inviting.  Research suggest that smells affect buying behavior.  Simple smells like lemon, orange and cinnamon encourage warmth and revisits, making the buyer comfortable and wanting to be in your home again and again.  Find out more about the research behind smells and buying behavior and what you can do to make your home smell to sell!

sip & shopAlso, be sure to visit our Sip & Shop event on August 20th from 12pm-2pm at 17 Franklin Ave, Plainville where a doTerra consultant will be present.  Buy a diffuser and some light, clean oils to help add the smell of buying to your home!

Tip Tuesday: Why Mortgage Rates Matter to Both Buyers and Sellers

Is it a good time to buy?  When should I list my home?  We hear both of these questions a lot.  Both questions are valid and both questions have multiple factors to consider. But, one common factor is what the mortgage interest rates are.

nichole
You could be a happy new homeowner!

As a Buyer, you want to make sure that you’re buying at a time that the interest rates are low and thus, making your purchase a good financial investment.  Right now, interest rates are low.  But, will they stay low?  You’ll want to find a mortgage broker that helps get you pre-approved and be sure to ask them about how to lock-in your interest rate. But maybe you can’t get pre-approved and you need to fix some items on your credit.  So 6 months from now, will the rates still be low?  There are many things that affect interest rates and First World Mortgage of Southington has a great weekly Real Estate Market Overview that gives you a weekly mortgage rate summary.  Call a mortgage broker today before you see today’s impressive rates vanish!

As a Seller, mortgage rates will absolutely affect your ability to sell and when.  If

closed
Your home could have a sold sign!

rates are high, there will be less buyers out meaning that a high inventory and low buyer atmosphere may be created, leaving you struggling to sell your home because buyers have their choosing.  However, if rates are low, you’ll see yourself in a situation where there are a lot of buyers and not enough inventory (which is what we’re currently dealing with).  Therefore, a home priced appropriately for the market should sell within a great timeframe.  According to the CT Association of Realtors, homes are currently selling at a 1.8% increase from this same time last year and there has been a 6.4% increase in the amount of homes sold compared to last year.  In addition condos and townhouses, are seeing an 8.8% increase in price and 8.9% increase in total units.  In essence, sell now!

Whether you’re a Buyer or Seller or both, the mortgage interest rates will affect your next real estate transaction so be sure to stay up-to-date on them.  Then, when you’re ready contact us to Buy and/or Sell!  Until then, find out your current budget affords you in today’s market….or find out what your home will sell for here.  

Tip Tuesday: Spring has Sprung and So Have Home Sales!

Real Estate.Happy Spring everyone!  The Spring CT Real Estate Market is gearing up, but are you ready?!  According to the Connecticut Association of Realtors, the past 3 published months of sales (January, December and November) have all reported an increase from the previous year in median sales prices and amount of homes sold for both residential single-family homes and townhouses/condos.  This represents a fantastic trend and as soon as February is published in the next few days, we’ll report it to you.  But, the question remains….what does this mean for you?

As a seller, this means….

  1. Now is a great time to sell!  
  2. Your home may sell for more than it would have a year ago.
  3. You need to get your home ready to impress buyers as they begin to pick up their buying process.

So, what should you do?  

  1. Use a price setting tool to see what your neighborhood’s market value currently is.
  2. Begin getting your home ready to sell!
  3. Contact us for a professional market analysis and assistance with getting your home show ready!

As a buyer, these statistic mean…..

  1. That there a large amount of buyers right now who are placing competitive offers so you need to be ready to put forth a strong offer.  
  2. Your offer not only needs to be competitive in terms of number but also contingencies and financing.  

So, what should you do?

  1. Get your credit ready and your pre-approval ready.  
  2. Determine what you’re searching for.  What are your must-haves and what neighborhoods are you interested in?
  3. Discuss strategy with us.  Our goal is to find your family your dream home, at a great deal and in the right location.  We want to be sure you win your home with an offer that’s competitive but also comfortable and confident for you.  So we’ll help you with referral to a lender, give you tools on finding a neighborhood, show you what your price point can get you in that neighborhood and help you to craft an offer that is strong.

 

 

 

 

Tip Tuesday: Decorating Your Outdoors for Fall

Looking for new ideas to decorate the outside of your home this Fall?

cornstalkAre you looking to sell your home in this fall market?  Then decorating the outside to make a great first impression is essential! 

Here are some quick fall decorating ideas:

  • Add a cornstalk to your mailbox along with some mums to give your home instant notice and attention.

 

 

 

  • Purchase wood crates from you local craft store and place mums in it to give simple, fall mums a new look.mums-wood-crate

 

 

 

 

 

 

 

  • Pumpkins don’t have to be just orange.  Consider painting them different colors to add pops of color to your doorstep!pumpkin-glitterHave fun and be creative!  But remember, if you’re trying to sell to keep the decorating simple and something that every “average” buyer can appeal to.