4 Tips For Making Your Best Offer

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Ready to make the best offer on your dream home? Here are 4 tips to stand out as a buyer:

1.  Your realtor’s knowledge about the local market, recent sales, and current trends is essential. Rely on their expertise to help you understand today’s market and what sellers are looking for.
2.  Submitting your pre-approval letter along with an offer shows the seller that you have the financial capacity to follow through with the purchase.
3.  It's essential to strike a balance between making a strong offer, not overpaying, and on the flip-side.. not offending the seller with a lowball offer either! Talk with your agent to strategize your offer terms based on comparable sales and local market conditions.
4.  As your realtor, the Signature ONE Realty Group is here to advocate for your best interests! Depending on the home - as a buyer, you may have more negotiating power than before and we’re here to help you determine where and when there’s wiggle room.

Having a knowledgeable & reliable realtor by your side can make all the difference in finding and successfully securing your dream home! If you’re thinking about getting started, let us know below.

Lets Get Started!

 

 

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BY BEN VERDE

Half of homebuyers cry at least once while shopping for a home: Survey

50% of people who bought a home over the past 2 years say the process brought them to tears, according to a new survey conducted by Zillow!

Buying a home can be as stressful as planning a wedding or getting fired for Americans, half of whom find themselves in tears at least once during the process, according to a new survey. Conducted by Zillow, the survey found that 50 percent of homebuyers said the process left them in tears, with millennial and Generation Z buyers — who are most likely to be buying their first home — leading the pack, with 61 percent of millennials and 65 percent of Gen Zers reporting tears, according to Zillow.

The findings come at a point when the housing market has come to be defined by low inventory and high demand, with 60 percent of home sellers reporting at least two offers on their home. While increased mortgage rates have begun to shift the market, intense competition and high prices persist, with nearly half of all homes sold during April 2022 going for above-asking price, up from 37 percent in 2021.

The already-emotional nature of buying a home combined with some of the most challenging conditions ever seen for making the purchase has been enough to make buyers break down and cry, according to Zillow experts.

“Buying a home is not like buying any other asset; it’s deeply personal and it’s emotional,” Zillow home trends expert Amanda Pendleton said in a statement. “When you make an offer on a home, you have likely envisioned your life there. If you lose out on that home to a stronger offer, it can feel like losing a future you have already started planning. These survey results find, even when they are ultimately successful, a large share of buyers in today’s competitive market experience heartache and stress.”

Buying a home has long been a stressful endeavor in most markets, but the added stressors of higher costs and competition has increased the burden on buyers, many of whom have to compete with all cash offers or engage in bidding wars.

Zillow’s survey, which featured data from more than 2,000 people who purchased a home over the past two years, found that 62 percent were stressed about being able to find a home within budget, 61 percent were stressed about not having enough homes to choose from, and 58 percent were stressed about finding a home in their preferred neighborhood.

Non-white buyers were more likely to cry at least once during the process, Zillow found, with only 48 percent of white buyers reporting tears compared to 68 percent of Latinx buyers and 51 percent of Black buyers.

Past studies have shown that Black mortgage applicants are significantly more likely to be denied mortgages due to low appraisals,  with data from Zillow showing that Black mortgage applicants are 84 percent more likely to be denied than white applicants.

 

Buying home appliances is expensive. From dishwashers and refrigerators to espresso machines and water heaters, once they're fitted into a home, the responsibility of making sure they operate efficiently lies on the homeowner.

Related: How to Avoid Dust Buildup in Household Appliances

Although it may seem like a daunting task for new homeowners, with the right repair tools and regular maintenance, you'll not only prevent the appliances from breaking down, but also keep your home looking its best. Here's a new homeowners' guide to proper and efficient appliance maintenance:

 

As a new homeowner, one of the main appliances you'll use regularly is the dishwasher. While it is a cleaning machine in and of itself, keeping it clean will help it properly do its job. Maintaining your dishwasher ensures that your plates are clean and free from odors, smudges and bacteria. Start by cleaning the spray arm nozzles. Also, if the filters aren’t self-cleaning, be sure to clean them with vinegar, lemon juice or other recommended acidic solutions.

 

We all know the value of a working home air conditioner. Unfortunately, AC units require regular maintenance. Occasionally, you'll need to check the air filters and ensure they're cleaned to get rid of clogging and dirt. Clogged filters can cause inefficiency and reduce the lifespan of your appliances. You’ll want to change out these filters several times per year for the best results.

 

Water heaters also require a lot of maintenance. First, confirm that the pressure relief valve is working efficiently by trapping excess pressure created by hot water. Also, check any clogging in the waterway that may be caused by calcium buildup. Most importantly, develop the habit of draining water completely out of the heater tanks to release any settled sediments. If your water heater has technical problems, you should contact a professional water heater repair technician.

 

Refrigerators can be expensive to purchase and repair. Therefore, the last thing you would want is to have them break down. As a homeowner, you need to ensure the refrigerator coils are cleaned regularly and water filters changed to increase the cooling efficiency. Usually, you'll find the instructions for cleaning coils and changing filters on the manual pamphlet.

 

You don't have much to worry about when it comes to oven and stove maintenance. The only responsibility you have is to ensure they are properly cleaned. This is particularly true on stove igniters which can be affected by food spills. You should also confirm that the oven doors are tightly sealed to increase energy efficiency and faster cooking.

 

Proper maintenance of your home appliances goes a long way in improving their efficiency and lifespan. As a new homeowner, the above-mentioned tips will ensure your appliances serve you best and for an extended period. For more technical maintenance, you can always contact experts in your area.

 

 

If you’re following along with the news today, you’re probably hearing a lot about record-breaking home prices, rising consumer costs, supply chain constraints, and more. And if you’re thinking about purchasing a home this year, all of these inflationary concerns are likely making you wonder if you should wait to buy. Investopedia explains that during a period of high inflation, prices rise across the board. And while home prices aren’t immune from this increase, here’s why inflation shouldn’t stop you from buying a home in 2022.

 

Homeownership Offers Stability and Security

Home prices have been increasing for quite some time, and experts say they’re going to continue to climb throughout 2022. So, as a buyer, how can you protect yourself from rising costs for things like food, shelter, entertainment, and other goods and services? The answer lies in housing.

Buying a home allows you to lock in your monthly mortgage payment for the foreseeable future. That means as other prices rise, your monthly payment will be consistent thanks to your fixed-rate mortgage. This gives you the peace of mind that the bulk of your housing costs is shielded from inflation.

James Royal, Senior Wealth Management Reporter at Bankrate, says:

“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”

If you rent, you don’t have that same benefit and you won’t be protected from rising housing costs. As an added incentive to buy, consider that today’s mortgage interest rates are lower than they have been in decades. While inflation decreases what your dollars can buy, low mortgage rates help counteract it by boosting your purchasing power so you can get more home for your money. They also help keep your monthly payments down. This is especially important during an inflationary period because you’ll want to protect yourself from the impact of inflation as much as possible.

Ali Wolf, Chief Economist at Zonda, explains:

“If you have cash and are expecting inflation, you want to think through where you can put your money so it does not lose value. Housing is commonly looked at as a good inflation hedge, especially with interest rates so low.”

 

Bottom Line

The best hedge against inflation is a fixed housing cost. That’s why you shouldn’t let it stop you from buying a home this year. Not sure where to start? Let’s connect so you have expert advice and help throughout every step of the homebuying process.

 

 

 

Although currently dimly lit and a little rough on the eyes, your unfinished basement still has a lot of potentials. With just a little love and the help of the following ideas, you can spice it up in no time and get some great use out of the space.

1. Add a pop of color. Give your basement a whole different look without a big renovation by adding some color to space. Consider painting and sealing the floors, opening up the room by painting the rafters white or a light color, or creating a bold accent wall.
2. Divide the space. Want to make your basement a multi-use room? Partition out the area by installing an inexpensive curtain system. This can be done either with a curtain track or a simple wire, some hooks, and curtains will suffice.
3. Add foam mats. Whether you’d like to use the basement as a home gym to get a quick workout in or a place for the kids to play and rough house, adding some foam mats into the mix is a great and easy solution. They come in various colors and can quickly be picked up and tucked away if need be.
4. Use a large rug. As an alternative to adding mats, find a large, eye-catching rug to be used as a focal point, and furnish the area around it.
5. Add lighting. Basements often offer very little built-in lighting and few outlets around the room. Consider stringing café lighting across space from the rafters to give a nice ambiance and glow without any difficult electrical work.

How to get ready for Retirement!

For most people, retirement feels like a long way off. But, if you don’t start preparing as early as possible, you may find yourself in a place of financial insecurity when the time does come. To avoid this, consider implementing the following tips.

1. Calculate your target savings. In general, it’s recommended that you save between 10 to 15 percent of your income for retirement. However, you can always use an online savings calculator to determine the amount you need to save for your specific needs and goals.
2. Contribute to your employer’s retirement savings plan. Does your job offer a 401(k), traditional IRA, or Roth IRA? Sign up and start saving as soon as they allow you to. It’s recommended to set up automatic paycheck deductions and, once the money is in your retirement fund, don’t touch it.
3. Take advantage of employee benefits. Many employers offer matching which generally requires you contribute a certain percentage of each paycheck and your company will then contribute a matching amount with funds of their own. They might also offer health savings or flexible savings account. By contributing to these accounts, you reduce your amount of taxable income, allowing you to save more money.
4. Pay off your debts. Start by paying off any high-interest credit card debt first. Then look at other debts, such as student loans and car payments, and make a plan for paying those off incrementally.
5. Reduce daily spending. Although this feels like a no-brainer, spending your money thoughtfully now can make a big impact later. Seek out areas of your life where you can