tips Archives - Fort Collins Homes

What’s Ahead For Real Estate in 2022?

The housing market is at a turning point, and if you’re thinking of buying or selling a home, you may have questions.

Is it still a good time to buy a home?
Should I make a move this year?
How does the remainder of 2022 look for residential real estate?

Mortgage Rates Are Subject To Inflation
While buyers question where mortgage rates will go in the months ahead, there is no crystal ball to foretell what will happen. What housing market experts know for sure is that the record-low mortgage rates during the pandemic were an outlier, not the norm.

In 2022, rates have climbed over 2% due to the Federal Reserve’s response to rising inflation. Greg McBride, Chief Financial Analyst at Bankrate, explains:

“Until inflation peaks, mortgage rates won’t either. Without improvement on the inflation front, we don’t know where the interest rate ceiling will be.”

The Supply of Homes for Sale Is Projected To Increase
This year, particularly during the spring, the number of homes for sale in the US increased. That’s partly due to more homeowners listing their houses, but also because higher
mortgage rates helped reduce buyer demand. As buyer demand moderates, inventories rise.

Experts say that growth will continue. Recently, realtor.com increased their 2022 projections for inventory gains dramatically from a 0.3% increase at the beginning of the year
to a 15.0% jump by the end of the year.

While an increase in home selection is great news, there is no sudden surplus of inventory on the horizon. Housing supply is still low. Finding a home will still be a challenge, but not as difficult as it has been over the past two years.

Home Price Appreciation Will Continue
Due to the imbalance between the number of homes for sale and the number of buyers, the pandemic led to record-breaking increases in home prices. According to CoreLogic, homes appreciated by 15% in 2021, and they’ve continued to rise this year.

Selma Hepp, Deputy Chief Economist at CoreLogic, explains why the housing market will see deceleration, but not depreciation, in prices:

“The current home price growth rate is unsustainable, and higher mortgage rates coupled with more inventory will lead to slower home price growth but unlikely declines in home prices.”

If you’re thinking about buying your first home or you’re ready to make a move, it may make sense to do so now before prices climb higher.

Contact me and let’s work together to determine the best plan for your move.

Source: KeepingCurrentMatters

New Year’s Resolutions For Your Home

While you’re making New Year’s resolutions focused on health, wealth, and family, be sure to add resolutions for your home!

1. Streamline the stuff
Go room-by-room periodically clearing anything that you don’t use, wear or love and donate it to charity. After that, think twice about what you bring in.
Stash useful (but not beautiful) items such as DVDs, remotes and those kicked-off shoes in simple woven baskets. Clear your counters of everything you don’t use
on a daily basis.

2. Make it safe and sound
Check your house for radon. Test kits cost as little as $20 at your local hardware store. And, make sure carbon monoxide and fire detectors are installed on every floor with a bedroom. Clean dryer lint from the vents and ducts behind the dryer, and change HVAC furnace filters regularly. Check your house for adequate bathroom and attic vents to the outside to prevent mold. If your home was built or last remodeled before 1978, consider testing for lead paint and asbestos flooring.

3. Shrink your bills
Start by cutting your energy usage in your home:

• Switch off lights when you leave a room.

• Adjust the temperature settings on the air conditioner and furnace for times when you are not at home.

• Install LED bulbs and low-flow showerheads.

• Dry some of your clothes outside.

• Run the dishwasher or washing machine when they are full.

• Set your home computer to revert to sleep mode when not in use.

• Water your yard less and consider drought-tolerant landscaping.

• Give composting a try.

• Find a community resource for recycling.

• Seal and insulate ductwork for heating and cooling systems.

4. Get ready to entertain
Add some plants to bring in new energy and help clean the air. Freshen a room by picking a new accent color that shows up with new pillows or rugs and updates your look. Orient your furniture in conversation groups instead of facing the television.

5. Get your finances right
While you create your yearly budget, remember to allocate funds for improvement and annual maintenance of your house, and emergencies that may arise.

Now, get ready to breathe a little easier in your own home!

Source: hgtv.com, lifehack.org

Things To Do While You’re Stuck Inside

Things To Do While You’re Stuck Inside

• Go for a hike (https://www.larimer.org/naturalresources/parks)
• Go to a park (if not crowded)
• Go for a drive
• Catch up with friends, on the phone or on social media
• Read a book
• Piece together a puzzle
• Try a new recipe
• Play a board game
• Draw
• Do a craft
• Organize your home
• Take a virtual tour of museums around the world (www.artsandculture.google.com)
• Find an on-line workout
• Have a picnic in your living room or at a park
• Try a new recipe
• Catch up on podcasts
• Find an online learning class
• Find live events on Facebook
• Declutter a room and prepare a box to donate at a future time
• Start inside seed boxes for springtime planting
• Start a journal or blog
• Watch a long movie that you haven’t had time to watch
• Learn a foreign language online
• Finish your taxes if they’re not already done
• Write notes and letters to family and friends
• Write birthday cards ahead of time
• Read the magazines piled up on your desk
• Do coloring books
• Do easy home repairs
• Clear out your camera roll
• Buy gift cards from your favorite restaurants and coffee shops
• Have a Scrabble tournament
• Rearrange your furniture
• Update your will
• Donate money to food banks
• Get lots of sleep

10 Tips For A Smooth Move

1. In home survey — A reputable moving company will
take inventory of all your belongings, including items in
storage areas like cabinets and garages. They will ask
what goes on the truck and what stays behind to
determine the bulk and weight of your move.
2. Don’t pay a large deposit — You should only pay upon
delivery. If you pay in advance, you have no control over
when you will see your belongings again.
3. Licenses — Confirm that your interstate moving
company holds a valid operating authority with the
Federal Motor Carrier Safety Administration.
4. Get references — Ask your friends, family and work
colleagues. Check online resources such as
www.moving.org. Ask the mover for names of recent
customers in your area and contact them.
5. Unexpected packing costs — Watch for inflated prices
for boxes and packing materials. Make sure that labor
costs are in your estimate.
6. Beware of extra fees — Ask if there are extra charges for
the movers having to negotiate stairs and elevators,
navigate narrow streets, and other additional fees that
may apply to your situation.
7. Never sign a blank moving contract — Get everything
in writing including the estimate, extra fees, and your
pick-up and delivery dates. Read your contract and
inventory form to make sure all of your belongings are
listed.
8. Don’t accept the “guaranteed” quote — There are
three kinds of moving contracts: 1) A binding estimate
specifies in advance the precise
cost of the move based on the
services you request. 2) A
non-binding estimate is
prepared in advance to give
you a general idea of the cost
of your move, but the exact
cost is not determined until
your shipment is loaded on
the truck and weighed. 3) A
non-binding to exceed estimate
insures that the estimate is the
maximum you’ll be required
to pay for any services
rendered.
9. Report any problems —
On moving day, open
boxes and check for
damage. Note any
problems on the mover’s
bill of lading before signing it.
10. Valuation protection — Full (Replacement) Value
Protection: Under this comprehensive plan, an article that
is lost, destroyed or damaged while in your mover’s
custody will be repaired or replaced according to the
protection you have selected. Minimum Liability: The
mover assumes liability for no more than 60 cents per
pound per article.
When it’s time to move, contact me for a free guide with
Answers to Questions about Moving!
Source www.moving.com

6 Tips To Buying A New Construction Home

Buying a new construction home is a bit different than purchasing a resale home — one that’s been previously owned by someone else. You’ll need to be familiar with a few tricks of the trade, along with understanding a bit about how the process works.

1. Use your own Broker/Agent.

ALWAYS use your own RE/MAX Advanced Broker/Agent; doing so will help ensure that you get what you want. Understand that the sales reps you meet at new construction communities are likely representatives of the Seller — the builder, corporate owners, developers, whomever — they are there to present their product, answer your questions … and do the best job for the Seller.

2. Don’t expect price reductions.

Yes, it does happen. But overall, remember that builders have established a set of prices that they feel best make their product (the houses) marketable with an expected profit margin. Furthermore, lowering the price on a house drops the comparable value of other houses in the community, thus bringing the entire suite of houses down in price.

3. Look instead for builder concessions in the form of additional upgrades.

Rather than price reductions, you may be able to gain a few upgrades from the builder at no cost, or for less money. Perhaps the builder would be willing to include a fence, landscaping, upgraded carpeting, or appliances as part of your purchase without charging you extra.

4. Builder incentives in the form of interest rates, etc., may not be coming from the builder.

Lots of new communities boast incentive programs that cite things like “3.75% financing for 30 years” or “Zero Closing Costs.” What’s important to know is that the builder may not be the one actually paying those closing costs, or reducing the interest rates. Typically, those types of incentives are coming from the builder’s preferred lender who is counting on a sufficient number of loan transactions in order to recoup the cost of the incentives.

5. Expect to use the builder contract or addendum.

In almost every case, new construction homes require the use of a builder’s contract or at least a lengthy addendum in addition to the typical purchase forms used by a Broker/Agent. Generally builder forms include language specific to the terms of the building process and can be many pages long, full of tightly packed terms. While much of the language is common sense, be sure to read the contract thoroughly yourself (as will your Broker/Agent) and then consult with a qualified real estate attorney if you have questions or concerns. Agents, even those sales reps for the seller, aren’t allowed to (and shouldn’t) attempt to advise you or interpret what those custom forms really say.

6. Builder warranties vary.

Not all builder warranties are the same. Some builders warrant their work from top to bottom for several years, some only for one. Many builders will offer a warranty of up to about 10 years for structural-type issues, with other warranty time frames for things like plumbing leaks. In addition, you’ll find that your new home will likely
have individual warranties for appliances, roofs, windows, etc. Be sure to carefully review the warranty offered by the builder of your desired home before signing the final contract for your new home purchase.

Looking For More Information?

Take a look at our Pinterest Board – House Hunting Tips
https://www.pinterest.com/remaxadvanced/house-hunting-tips/

Or check out some other links:

http://www.hgtv.com/design/real-estate/how-to-buy-in-new-construction

https://www.redfin.com/blog/2014/08/10_tips_for_buying_new_construction.html#.VdO3hflVhHw