Why Late Spring is the Best Time to List

This article originally appeared on Forbes.com

Opinions expressed by Forbes Contributors are their own.

 Svenja Gudell , Contributor

Spring has officially arrived, but most home sellers considering listing soon in order to capitalize on the impending spring home shopping season should consider waiting at least a few weeks more to both maximize their sale price and speed up the process.

Nationwide, the best two-week window for home sellers is the first half of May: U.S. homes listed in the May 1 to May 15 period generally sell almost two weeks faster than the average listing in the year, and they command a final price $2,400 more, on average, than homes listed at other times. The first half of May was the best time to list in 14 of the 24 large markets analyzed by Zillow.

The start to the 2018 spring selling season has been characterized by an acute shortage of homes for sale, meaning a large number of home shoppers likely will be unable to find the right home in the early weeks of spring. Later in the season, these buyers may end up spending more than they intended as they get wrapped up in competition and/or rush to conclude a deal before summer. This means late-spring listers can capture buyers like to be frustrated and earn an additional premium.

As with most things, there are exceptions to the early-May best-time-to-list rule.

In Pittsburgh, potential sellers thinking of listing this year should consider getting a move on: The Steel City’s magic window is March 16 to March 31 (i.e., right now), the earliest among the two dozen large markets analyzed. At the other end of the spectrum, St. Louis home sellers have the luxury of time: The best time to list in the Gateway to the West won’t come until the first half of June, latest among markets analyzed.

Home sellers on the West Coast generally gain the most by taking advantage of their market’s respective magic window. The six markets where sellers earn the largest premium over listing at the average time are all in California, Oregon or Washington. Sellers listing in the late-April magic window for San Francisco can expect to earn a $15,300 premium over listing at other times, the largest premium among all markets analyzed. Sellers in Dallas’ early May window can expect to earn $1,400 over listing at other times, smallest among markets studied.

Finally, listing later in the spring isn’t the only late advice worth taking. In a majority of markets, listing your home at the end of the week or on the weekend is the best bet in order to maximize the number of times a home is viewed on Zillow in the first few days of listing. According to earlier research, the largest number of home shoppers will see a given listing within its first week on the market, and it’s important to capture that early interest as quickly as possible to boost the chances of a quicker sale.

Nationwide, the best day to list a home for sale is Saturday. In every large market except for one, the best day was a Thursday, Friday, Saturday or Sunday. Only Boston bucked the trend: The best day to list in Beantown is Wednesday.

April Real Estate Outlook

Stage Extra Bedrooms to Fit Target Buyers

This article originally appeared on Realtor.com

No two people will look at a listing in exactly the same way. Here’s how to identify your target audience and stage unused space to address buyers’ needs.

BY KELSEY DOWN

According to the National Association of REALTORS®’ 2017 Profile of Home Staging, 38 percent of buyers agents acknowledged that staging had a positive impact on home value—but only if the home was decorated to a buyer’s taste. The question, then, is how do agents know what buyers are looking for?

Staging areas like the kitchen or the master bedroom might be straightforward enough because virtually every home buyer has the same general need for those rooms. When it comes to an extra bedroom, though, some might envision the space as an office, while others might see a nursery or a hobby room. How can you decide what type of auxiliary room design will result in a sale?

Before you stage a spare bedroom, conduct thorough research to identify your target buyers. Ask questions about the area and your potential buyers. How is this home different from other homes in the area? Make sure you’re aware of new companies or job opportunities that may be bringing people in. You may also find research from REALTORS Property Resource®, or your local association can help you understand the demographics of the typical buyer in this particular neighborhood. After answering these questions, you will be better equipped to cater to buyers’ needs as you stage and market the property.

Here are a handful of common buyer categories you'll encounter and some expert tips on how to identify and stage for them.

Single Professionals

Real estate investor analyst Allison Bethell of Fit Small Business in New York recalls staging a loft condo located near two hospitals and a medical school. One of those hospitals was brand-new, drawing plenty of medical professionals into the area.

“We knew that new jobs were created,” Bethell says, “and doctors often had notes and phone calls to make at home.” That’s why Bethell staged a second bedroom in a loft she was selling as an office that would address those needs.

The office featured not only a desk but also a pull-out couch to accommodate overnight guests and to keep the new homeowner comfortable while working. Murphy, loft, or day beds might demonstrate even more clearly than a pull-out couch how an office might double as a guest bedroom. This post has a few ideas for how to choose the right sleeping arrangements depending upon the type of space you have.

Bethell included closet built-ins for more storage, added overhead lighting, and installed pocket doors to allow privacy as needed. “We even put a wine fridge in there to store waters and energy drinks,” she says. The combo effect had an impact; Bethell says the doctor who purchased the condo told her it was the only one she had looked at that retained the loft feel while offering a separate office space.

First-Timers

The Rick Kucan and Sharon Steinman real estate team of Royal LePage Your Community Realty in Aurora, Ontario, consider everything from the neighborhood to the market price when they determine what kind of staging will appeal to buyers. The team often caters to first-time buyers in Canada by staging spare rooms as children’s bedrooms. Most recently, Steinman helped her clients convert an L-shaped office into a child’s bedroom so potential buyers could better see it as usable space for their purposes.

And it’s not just moms and dads who see the value in this approach. The staging of the L-shaped space particularly appealed to the eventual twenty-something buyer, who didn’t have kids yet but “is hoping to settle down and start a family,” according to Steinman. She also staged a client’s TV room as a young girl’s bedroom and saw it purchased by an engaged couple looking for a home for their future family. “They had a strong emotional connection to the home on sight and put in an offer that evening,” Steinman says.

Affluent Families

Justin M. Riordan, founder of Spade and Archer Design Agency, staged a home in Seattle to appeal to wealthy families with several kids. Working with real estate professional Scott Perret of Avenue Properties, Riordan factored the average family size in the area as well as the layout of Perret’s listing into his staging strategy.

The listing price factored in, too. This house featured two bedrooms on the upper level and one bedroom on the lower level. The most obvious use for the extra bedroom on the lower level was as an office. But “with an asking price of $1,600,000,” Riordan says, “this home had to clearly show three useable bedrooms.”

Riordan recalls that the office-turned-bedroom lacked the typical wall space necessary for a full-size bed and nightstand. To solve that problem, he improvised an unconventional headboard by using a large bookcase that doubled as a nightstand. He decorated the shelves with vintage radios and lamps to keep them from looking too much like repurposed bookshelves. “The result was stunning, and it worked,” Riordan says. “The house ended up selling for $1,758,000.”

Creative Types

In addition to factors like family size and income level, specialized skills or hobbies can also affect staging choices. Kristin Davidson, founder of Kristin Davidson Interiors, wanted to make one home stand out in a Minneapolis neighborhood populated by wealthy families and artists. To demonstrate the versatility of a spare bedroom, she staged it as an art space.

“I added cabinetry and stainless-steel work spaces; industrialized the bathroom to work as a clean-up station; and brought in whiteboards, glass, and acrylic furniture,” Davidson says. She kept the budget minimal by purchasing everything from IKEA, which offers these additional ideas for staging a crafty space.

Davidson says the home sold quickly for the asking price. Her choice to opt for something different from the typical office or nursery staging demonstrated how the house could work as a “destination home, where everything you could want is on site.”

Staging a home can help potential buyers better visualize how the space might fulfill their particular needs. But you risk pushing buyers in the opposite direction if you fail to target and cater to the right demographics. Do your due diligence by identifying the most likely home buyer demographic for your market and designing a room that will appeal to them.

8 Hot Markets for Millennials, Gen X, Boomers

Because millennials, Generation X members, and baby boomers are in different stages of their lives, they are seeking different types of real estate markets that meet their specific needs. Realtor.com® found the hottest locations for each age cohort based on migration data for each of the major U.S. metros, home-search activity on realtor.com®, and the percentage of positive change in homeownership for each city from 2016 to 2018. The research shows that millennials are lured to places with strong technology and cultural centers, Gen Xers favor more affordable markets, and baby boomers are heading to the Sun Belt.

Millennials

Booming job markets are important to millennials, as are cultural and nightlife amenities. Realtor.com® found that the hottest millennial markets are:

1. San Francisco
2. Seattle
3. Houston
4. Dallas
5. Washington, D.C.
6. Denver
7. Boston
8. Ann Arbor, Mich.

Generation X

“Generation X is looking for housing affordability, where they can meet the needs of growing families,” Chris Porter, chief demographer at John Burns Real Estate Consulting, told realtor.com®. They tend to prefer warmer weather and more business-friendly states, which may explain why “Texas has been one of the fastest-growing regions in the country for a while,” Porter added. The hottest markets for Generation X are:

1. Houston
2. Miami
3. Dallas
4. Washington, D.C.
5. Riverside, Calif.
6. Austin, Texas
7. Odessa, Texas
8. San Antonio

Baby Boomers

“A lot of [baby boomers] are looking to downsize,” says Lori Corwin, a real estate professional at Realty Executives in Phoenix. They may be looking for homes that require little maintenance, including in 55-plus communities. The hottest markets for baby boomers are:

1. Phoenix
2. North Port, Fla.
3. Miami
4. The Villages, Fla.
5. Punta Gorda, Fla.
6. Austin, Texas
7. Riverside, Calif.
8. Cape Coral, Fla.

Source: “Millennial Meccas, Gen X Hot Spots, and Boomer Boomtowns,” realtor.com® 

2 Ways To Get The Most Money From The Sale Of Your Home

This article originally appeared in Keeping Current Matters. 

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house?

Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOW

This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive. The seller may think they would make more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

A study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

How to Buy Homes in a Tight Housing Market

Kate Ashford , CONTRIBUTOR, Originally published at Forbes.com

Shopping for a home is a challenging task right now. Home prices went up 6.3% in December compared to the year prior, according to the latest S&P CoreLogic Case-Shiller national home prices index. That’s likely due to high demand and a tight supply of homes.

That makes it a seller’s market, which means—as a buyer—it may be harder to land the home you want. Here are some strategies for making it happen:

Do some preliminary shopping. Determine when you’re going to start shopping seriously—that is, when you’ll be ready to start making offers on houses—and start looking two to three months prior to that date. That helps you get a feel for a market, for how things are priced, and for how the bidding process goes. (Do homes frequently go for above ask? How much above? Which homes?) “You’ll develop a sense of what to expect from homes in that market,” says Holden Lewis, research analyst at NerdWallet. “And that’s especially the case if you’re working with an experienced buyer’s agent.”

Find a good buyer’s agent. Speaking of which, working with someone who really knows the area can give you a leg up, particularly if they have an ear to the ground. They might know about homes for sale before they hit the market or have some insight into what a home seller needs to close a deal.

Get preapproved. When you’re ready to get down to business, have a lender run your paperwork to determine how much mortgage you can qualify for. You’ll get an approval letter that outlines what kind of loan you can get. “Home sellers often find themselves in a situation where they accept an offer and then the buyers can’t qualify for the loan,” Lewis says. “They want to avoid that.” Your preapproval letter can give you a competitive edge.

Offer to put more down. In many markets, a standard deposit with a home contract is 1% of the home’s sale price. If you can put more down than that, offer to do so. “Your offer is a lot more attractive if you can make a deposit of 3% or 5%,” Lewis says. “Then they know that you’re not just a tire kicker, and that you’re really serious.”

Find out what the seller wants. The best way to do this is to ask—either through your agent or by speaking to the seller directly. What are the seller’s priorities? “Don’t make any assumptions,” Lewis says. “For a lot of sellers, their top priority is getting top dollar, but not all of them. Some sellers are relocating and want to close on the house as quickly as possible. So if you can show that you’re ready to go, you’re more competitive.”

Be nice. Go the extra mile. If you’re house hunting on a snowy day, take your boots off at the door or carry a dry pair of shoes with you. If you use the bathroom, flush. Be thoughtful and courteous. And don’t say anything negative while you’re in the house. “If you have something critical to say, wait until you leave,” Lewis says. “If there’s a buyer who’s rude, that might tip the scales in your favor if you’re the polite one. Make them like you.”

Bidding Wars Abound :: How long will they continue?

This article originally appeared on Keeping Current Matters. View the article here.

Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase.

In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season is just around the corner.

CoreLogic recently conducted an analysis on national home prices at the time of sale for their January 2018 MarketPulse Report and found that a third of homes sold for at least list price.

“The share selling above list price was almost three times the trough in January 2008 and represented more than one-fifth of total sales.”

Many markets in the western part of the country and around major cities are experiencing higher shares of homes selling above list price.

“San Francisco had the largest share of homes—76 percent—that sold for at least the list price, and Seattle and Los Angeles followed with 63 and 51 percent, respectively. Miami had the lowest share—16 percent—of homes selling at or above the list price.”

Increased demand during the spring and summer months, the traditionally busier seasons for real estate, will no doubt influence how many homes continue to sell over list price.

This should not be seen by sellers as permission to overprice their homes, though. Buyers are becoming more and more educated, especially those who have been searching for their dream homes for a while now while waiting for new inventory to come to market.

Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

Bottom Line

Without a large wave of new listings coming to market, buyers will continue competing with each other for the homes that are available. If you are thinking of selling your home, now may be the time to do so before more competition comes this spring. Contact a local real estate professional who can help you determine the demand for your house in your area.

Tour de Force: Don't Make These 10 Huge House-Hunting Mistakes

By Cathie Ericson

You've been thinking about settling down and buying a home for a while now, and you finally think you're ready. It's time to tour some digs!

But hold up—you need a game plan. House hunting is about more than popping into a few open houses and picking the one you like best. In fact, there's a science to it: A smart search means you'll save time, money, and your sanity during the rest of your home-buying process.

So before you hit the trail, make sure you're aware of some classic mistakes to avoid. We promise—it'll mean happy hunting from here on out.

1. Not arming yourself with a mortgage pre-approval

Nothing screams “I’m not really serious” like going to look at houses without being pre-approved for a mortgage, says Sam Harris, an agent with Massada Home Sales in Brooklyn, NY.

That’s because a seller is unlikely to entertain an offer without a pre-approval. And in hot markets, that means you can kiss your chance at a promising property goodbye—there are plenty of other buyers with pre-approvals in hand.

In addition to improving your odds of making a winning offer, a pre-approval also lets you know exactly how much mortgage you qualify for, so that you won’t waste time looking at properties you can’t afford.

2. House hunting without an agent

In this very tight market, the best way to find a house is to have a jump on the competition, says Bill Golden, a real estate agent with Re/Max Metro Atlanta Cityside in Atlanta.

“An agent will not only be the first to see when new listings come up, but they might even know about listings that haven’t even hit the market if they're well-networked in the area where you're looking," Golden says. A buyer’s agent can also help you avoid costly negotiating mistakes when it comes time to make an offer.

3. Not knowing what you want

It’s important to make a wish list before you start shopping, because looking at extremely different types of properties will slow down the process, says Brendan O'Donnell with Center Coast Realty in Chicago.

“I had a client who was interested in one-of-a-kind loft spaces as well as typical cookie-cutter vintage condos, and because they were so different, he wasn't able to sort out his priorities and make a decision,” O'Donnell recalls.

It’s fine to consider many types of properties at first to get a sense of your options, but try to narrow them down before you fill your weekends with home tours.

4. Waiting too long to see a home

In this tight market, if your real estate agent calls you about a new listing, do whatever you can to see it right away, Golden advises.

“Waiting even a day can make the difference between getting the house or not,” he warns.

5. Inviting outspoken (and uneducated) advisers

Is Mom going to live in the house? What about your best friend? Yeah, didn’t think so. So, even though it can be wise to get an unbiased second opinion, beware the desire to get too many opinions.

Often these folks are offering observations based on their own living situation, notes Joshua Jarvis of Jarvis Team Realty in Duluth, GA. In other words, they think a huge backyard is heaven, but you're the one who has to mow it!

6. Speeding through an open house

To get a real sense of a house, you must explore it in detail, and an open house is the ideal time, says Rachel Ivers with the Blake Team at Keller Williams in Aurora, CO.

“That includes opening closets and pantry cabinets to ensure you have checked out every nook and cranny,” she says.

Even though you'll eventually have an inspection, use the open house to note red flags: Look beyond the fancy sheers hanging on the windows to make sure the windows themselves are hanging straight; flip light switches to check their upkeep; and inspect the floors and foundation to make sure they're up to par.

7. Becoming distracted by sparkly new features

Does the house look amazing at first glance? Sometimes you have to look a little closer, advises real estate agent RJ Winberg with South Pointe Properties in Rossmoor, CA. He frequently runs across investor flips that look perfect, but the devil is in the details—and sometimes the details leave a lot to be desired.

“A house flip can be a great buy because everything is new, but only if you choose a house where the renovation was done well,” Winberg says.

As you’re house hunting, look carefully for signs that indicate a rush job (e.g., gaps between new flooring and the walls; paint spatters on light switches, outlets, and windows). He also says to note the brands and materials used.

"The appliances, faucets, lights, and other fixtures often look great just because they are new, but sometimes they are lower-quality options that won’t stand the test of time," Winberg says.

8. Expecting perfection

If you’re hoping to find the perfect-size house in the perfect neighborhood with the main-floor laundry room you want and the best schools, at a price you can afford, you can dream on, says Realtor® Aaron Hendon with Christine & Company with Keller Williams in Seattle.

“Two out of three isn’t bad,” he says, referring to your priority list. “It’s rare to get everything you want in any area of life, and home shopping is no different.”

Focus on what’s most important to you.

9. Falling in love with the decor—not the home

So, you're dazzled as soon as you walk in the door. But is it the house that's winning you over? Or the decor? It's a home stager's job to make you swoon, and unless you can tap the stager directly for tips, you’re probably not going to be able to replicate the look once you move in.

“Make sure you are envisioning yourself in the home and falling in love with the house itself, not the house the way it’s staged," Ivers cautions.

10. Ignoring the neighborhood

When you tour a home, make sure you save some time to tour the neighborhood as well. Are the neighbor kids playing Metallica covers in the garage? Do cars speed down the street where your kids will play? The last thing you want is to be in a beautiful home in a nightmare neighborhood.

Once you've checked for any red flags, take some time to get the overall vibe of the community and make sure it's right for you. Notice whether the neighborhood is quiet or bustling; whether it attracts families or singles; and whether neighbors congregate on their porches or keep to themselves. Also, check for local shops, restaurants, or parks if amenities are important to you, as well as access to freeways and public transportation.

Cathie Ericson is a journalist who writes about real estate, finance, and health. She lives in Portland, OR.

Follow @CathieEricson

Wondering If You Can Buy Your First Home?

This article originally appeared in Keeping Current Matters. See the article here.

There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family, others might think they are too young, and still, others might think their current income would never enable them to qualify for a mortgage.

We want to share what the typical first-time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers. Here are some interesting revelations on the first-time buyer:

Bottom Line

You may not be much different than many people who have already purchased their first homes. Meet with a local real estate professional today who can help determine if your dream home is within your grasp.

Selling Your Home? Don't Neglect These 6 Maintenance Tasks—or Else

By Wendy Helfenbaum

If you're a homeowner, you already know that keeping your property in tiptop shape requires dedication and patience for ongoing maintenance. But what if you've put your home on the market, or even accepted an offer? Perhaps you're thinking: Not my problem anymore.

Sorry, folks, we've got news for you: Just because you’re selling doesn't mean you're off the hook from routine maintenance tasks—and that's especially true if you’ve already vacated the house.

Sure, a well-cared-for house shows better: Small things like broken doorbells and leaky faucets make buyers wonder if your property also has bigger issues elsewhere. But more important, a little routine maintenance can help you avoid a catastrophic problem down the line (e.g., burst pipes, roof leaks, critters moving into your attic) that could devalue your property and derail that sale.

To prevent minor issues from escalating into full-blown, money-sucking, sale-killing problems, focus on these six important areas you can’t afford to neglect.

1. Keep up the yard and walkways

Whether you're still living at the home or not, you'll want to make sure to keep your landscaping tidy—remove dead tree limbs, rake leaves, and clean out flowerbeds.

If your home is already vacant, have someone tend to the yard regularly so that grass and weeds don’t detract from your home’s appearance, suggests Kyle Hiscock, a Realtor® with Re/Max Reality Group in Rochester, NY.

“If your home does not have a well-maintained exterior, (potential buyers) will keep driving,” he cautions. “Plus, this kind of neglect can be a bull's-eye for vandals to break into your property.”

Consider having lights on timers so the house doesn’t look dark all the time, and arrange for driveways and walkways to be plowed weekly in the winter months. And don't let mail pile up in the mailbox.

2. Clean the gutters and check the roof

This one's easy to forget about, even when you don't plan on going anywhere. But when it comes to gutter and roof issues, neglect can cause a dangerous domino effect.

Overflowing gutters can damage your foundation, and also lead to drainage issues. And, of course, you don’t want buyers seeing puddling water as they approach your house.

Just ask Alise Roberts, owner/broker at Alise Roberts & Company in Bellevue, WA. In the rainy Pacific Northwest climate, she frequently has to remind her clients to keep sidewalks clear of moss and clean gutters of pine needles and leaves.

"Buyers, seeing the house when it’s raining, will also see your gutters overflowing," she says. "That’s a terrible first impression.”

And then there's the roof. Of course, it'll be examined during the home inspection, but it would behoove you to do it before putting your home on the market. Small roof cracks can remain undetected for years, causing water to slowly infiltrate your home and damage ceilings and walls.

“If water starts to penetrate a property, it can be a very difficult sale," Hiscock notes. "Water in basements or in homes is one of the top three things buyers are scared of.”

3. Service your heating systems

It’s not sexy, but the hidden guts of your home need regular attention, whether you’re still living there or not. That means having your HVAC systems professionally serviced.

First up, your furnace: If you get it addressed before you list your home, it won't smell like dust when you crank up the heat during an open house on a chilly day. While you're at it, have the duct work and filters cleaned as well. And if you have baseboard heaters, vacuum those out, too.

(Speaking of heat, Roberts suggests keeping the thermostat at 66 degrees Fahrenheit when agents are showing your house so buyers can visit your place comfortably. This will also avoid any issues with pipes freezing or bursting.)

Have a chimney? Be sure to have it inspected and cleaned as well.

“You want to make sure there are no cracked flue tiles, and that from the exterior, there are no gaps in the mortar between the bricks,” Hiscock explains. “Otherwise, you could potentially have the chimney fall over onto the house, and that’s a very expensive fix.”

4. Keep the critters out

If you don’t want to add "family of raccoons included" to your listing (and pay the hefty tab for getting them out), inspect the inside and outside of your home for any areas that need to plugged up. Take care of holes from damaged siding or fascia under the roofline—and do it promptly.

“In a colder climate, squirrels look for somewhere warm to go, and they’ll find their way into your property,” Hiscock says.

Stove and dryer vents, for example, should be covered with wire mesh to deter pests.

5. Wash your windows

Most people associate sparkling windows with spring-cleaning, Roberts says. But if your house is on the market, it doesn't matter what time of year it is—you need to get those babies squeaky clean.

“If buyers walk through your home and all they see is dirty windows, that’ll really mar the showing process," she says.

Make sure to wipe them down after a bad storm, when they're especially likely to show muck and grime buildup.

6. Check the calendar

Depending on what time of year you bring your house to market, pay attention to any details that scream, "We don’t live here or care anymore," Roberts says.

That means tackling seasonal tasks such as clearing away lawn mowers in the fall and storing shovels in the spring.

“Too often, I see a seller’s patio furniture still outside during the winter time. To me, that's not a good reflection on the property,” Hiscock says. “It shows deferred maintenance and lack of caring, and can really turn off a potential buyer.

"If a seller can’t put away their patio furniture and lawn mower, what makes you believe that they've actually maintained the property all the years they've been there?” he adds.

Staying on top of these regular tasks will make it easier to sell your home with fewer headaches. Plus, it'll preserve the value of your property, and potentially, the thickness of your wallet, too.

Wendy Helfenbaum is a journalist and TV producer who covers real estate, architecture and design, DIY, gardening, and travel. Her work has appeared in Woman's Day, Metropolis, Costco Connection, Garden Collage, Parenting, Canadian Living, Canadian Gardening, and more.

Follow @wendyhelfenbaum

Real Estate Outlook - February 2018

Here is the latest real estate outlook for Dallas and Collin counties!

7 Small Home Flaws That Can Be Big Deals for Buyers

By Stephanie Booth

After living in the same home for a while, it's amazing what you can get used to. A creaky floorboard, for instance. A chipped tile that you've been meaning to replace but haven't gotten around to. A doorknob that needs a little coaxing to turn. No big deal, right?

Well, these small flaws can be huge deal breakers when you decide to sell your home.

“Prospective buyers are going to add all the ‘flaws’ they find to the price of the property, and that’s when they start trying to discount the price,” cautions Jane Peters, a real estate broker and owner of Home Jane Realty in Los Angeles.

Curious what some of these seemingly small problems are? Check out this list of minuscule (to you) things that buyers see as big hurdles to closing a sale.

1. An old electrical panel

Recently, home buyer made a controversial request for a repair at a property listed by Cedric Stewart, a real estate consultant at Keller Williams in the Washington, DC, area.

Apparently their home inspector claimed that $2,000 worth of repairs were needed on an electrical panel to get it “up to code.” The sellers insisted the current panel worked just fine.

“To the sellers, it was a small issue,” says Stewart, “but to the buyers, it was an electrical panel that could fail them at any time.”

To end this particular dispute, Stewart received bids from four electricians and got the repair quote knocked down to $1,200. The sellers offered that amount as a credit in lieu of repair at closing.

“The buyers grumbled," Stewart recalls, “but they took it.”

2. Ripped window screens

Window screens will wear out over time, but if yours are torn, take it seriously.

“They're a pain for anyone to replace,” says Stewart. “Therefore, sellers don't want to do it and buyers will insist that they do. If the sellers refuse to fix it, the buyers will demand a credit. This can be a major point of contention, and we've seen it delay progress before.”

Stewart recalls one seller who agreed to replace a damaged window screen. But on the final walk-through, it still hadn't been done—and the buyer threatened to walk away from the deal.

“It worked out,” says Stewart, “but it wasn't pretty.”

3. The location of your laundry room

Even if you own a state-of-the-art washer and dryer—and plan to bestow both on your lucky buyers—they may not be so thrilled with these nice appliances if they aren't situated in what they think is the "right" place.

“Some buyers have a problem with the laundry being on the ‘wrong’ level, especially in a three-level house or townhouse-style condo,” Peters explains.

In other words, you might be fine lugging your laundry to the basement, but don't expect all buyers to feel the same way. Offer to move these items to a new locale to warm buyers up.

4. Sticky door locks

Live in a house long enough, and you'll encounter a malfunctioning door latch or lock. That may be no big deal to you, but it may alarm buyers big-time.

If it's an exterior door, they will likely view this as a major safety issue, explains Stewart. And although it may seem like a simple fix, it’s often a complex one, he says.

Think about it: The company that installed the doors may no longer be around, the model may not be in production anymore, and/or it could be tough to get someone to replace the exact hardware. Consider fixing this problem before a buyer notices it.

5. Your bathtub or shower

Some people prefer showers, others want baths (particularly parents who must clean up small kids). So if you're missing one or the other, watch out.

In an ideal world, you'll have both: a bath with a showerhead above. But even if your bathtub works just fine, make sure the style isn't too off. Not everyone is excited to soak in a tub straight out of “Stranger Things" in avocado green. If that's you, luckily there is an easy fix: Consider slapping on a new coat of paint (yes, you can do that). Here's how to paint a bathtub.

6. Small closets

“Many buyers focus on closets,” says Peters. “Are there enough? Are they large enough? Walk-in closets are also preferred.”

There are a few things you can do to ease these concerns. For one, try to make your closets look roomier by decluttering them as much as possible. Put excess items elsewhere (like a rented storage unit). You might also consider hiring a contractor to build or extend closets where needed—or at least point out to buyers that they can do this themselves.

7. The walls of your kitchen

Some people like—no, make that love— open kitchens. So if your kitchen currently has four walls, you could be in trouble.

“Buyers may look at the possibility of breaking down a wall,” Peters says. But be warned, many might not want to do the work, or just get such a bad first impression of your kitchen that they move on. If you think your kitchen's four walls feel cramped and is stalling your sale, consider opening it up yourself. Here's how to knock down a wall.

Stephanie Booth's stories have appeared in magazines such as Real Simple, Cosmopolitan, Glamour, and Psychology Today.

Follow @stephanieBbarth

10 States Predicted to Have Strong Housing Markets in 2018 (Texas is #2!)

By Credit.com

The housing market in the U.S. has experienced a major uptick over the past two years. In 2016, existing home sales were the strongest they’ve been since 2006. More than a decade after the worst housing crisis in U.S. history, it seems we’re finally in a sustainable recovery period.

As we enter 2018, the housing market shows no signs of slowing, and is slated to remain among the world’s top performers, according to a forecast from Fitch Ratings. U.S. home prices are expected to rise 4.6% this year.

Here are 10 states that are predicted to be among the top performers in 2018:

1. Nevada

Housing forecasts for Nevada suggest that the market will continue to be strong, and that home prices will continue to rise in 2018. The fact that the state is home to Las Vegas — where median home values are expected to rise approximately 5.8% over the next 12 months — accounts for much of the market strength. Home values in Sin City rose 8.6% during the most recent 12-month reporting period, according to S&P/Case-Shiller’s Home Price Index. The median home price is approximately $285,045.

2. Texas

Thanks to a booming economy, Dallas and many other areas in the Lone Star state have seen a boom in housing over the past several years. A steady flow of profitable companies continue to relocate, expand, or launch their businesses here, thanks to lower taxes and a lower cost of living. The median home price in North Texas is $339,950. In 2018, home sales are expected to grow by 6% in 2018.

3. Florida

Led by cities including Deltona and Lakeland, Florida will continue to see a strong housing market in 2018. With the appeal of oceanside living, warm weather, and the ability to live an active lifestyle, Florida’s most popular areas are expected to see a more than 5% boost. The median home price in Deltona, the state’s most-booming housing area is $275,050.

4. California

With the economy expected to continue growing statewide, housing demand is poised to remain strong into 2018. However, a shortage of available homes for sale and affordability constraints make it a more challenging market to get into for homebuyers. Those with top credit scores have a competitive advantage over the competition when it comes to securing a mortgage. One of the fastest-growing areas, Stockton, is predicted to grow its housing market by 4.6%, and the median home price there is $385,050. In the most desirable areas, would-be homebuyers have been largely squeezed out altogether. For example, the median price of a home in San Francisco has increased $100,000 in the past year.

5. Utah

Businesses continue to flock to many parts of this state, making for a booming housing market that’s set to continue into 2018. The Provo/Orem region was recently ranked as the best-performing city by the Miliken Institute, thanks to a robust high-tech sector and broad-based job and wage growth. In Salt Lake City, the median home price averages $360,000, and the market is predicted to grow 3.2% in 2018.

6. North Carolina

North Carolina’s strong housing market is being largely driven by the amount of people relocating there from other states. Home sales are predicted to grow 6% in 2018, and the median home price averages $325,000. Charlotte is among the fastest-growing because it has capitalized on the popularity of mixed-use developments that surging in popularity across the country.

7. Colorado

The home of the Mile High City has seen some of the steepest price increases in housing of any other state in the U.S. over the past two years. While the market will remain strong, it is poised to level out a bit in 2018 to around 3.1%. Colorado Springs tops the cities for growth and the median home price there is slated to rise 5.7% this year.

8. Tennessee

In Nashville, the housing market will continue to flex its muscle in 2018. According to a Nashville Realtor, single-family homes in the city’s premier suburbs often fetch multiple offers above asking price “overnight.” Currently, the median home price hovers around $358,500.

9. Oklahoma

Oklahoma City boasts one of the strongest — yet affordable — housing markets as we move into 2018. That makes it an attractive option for those looking to secure a mortgage with a manageable payment. Home prices average $99,000 there, which a bit lower than the national average, and also lower than the statewide median home price of $116,800. Thanks to a lower cost of living, steady job economy, and low crime rate, the state will continue to stay at the top of the U.S. housing market this year.

10. Georgia

This “peach” will continue to be sweet in 2018. In a one-year period between July 2016 and July 2017, home values jumped 10%. Thanks lower median home prices of $218,350, and a smaller amount of home available for sale, we will continue to see a strong housing economy, particularly in and around Atlanta.

This article was written by Josh Smith and originally published on credit.com. 

How Rising Home Prices Will Help You Build Family Wealth in 2018

Shared from Keeping Current Matters

Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchases and closes on a $250,000 home this month (January). If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years?

Since the experts predict that home prices will increase by 4.2% in 2018, the young homeowners will have gained $10,500 in equity in just one year.

Over a five-year period, their equity will increase by nearly $45,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

Bottom Line

Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!

Valentine Wishes

Wishing you a home and heart full of L-O-V-E!!!