Home is more than four walls and roof. Home is a door opening to you, your family, your pets, your lifestyle, your neighborhood, your community, your city. It’s all encompassing on so many levels.
The Schizzo Market
To be a recession or not to be…that is the question of the hour.
I was scratching my head thinking about what I was going to write about this month. So many of my clients, friends, and acquaintances ask me about the market. Currently the market is an unpredictable schizophrenic and truth be told, I’ve always known it as being highly competitive, multiple offer situations, and disheartened buyers walking way in tears because $100K over is too rich for their blood—and mine.
We’ve had this very strong, very long lasting market, but as with all things, change is inevitable. We are seeing drastic dives in home sales, the 24 hour sale is becoming a little sluggish, and the question of are or aren’t we in a recession is prevalent. It’s all connected, from the war in Ukraine to the record high eviction rates to the pandemic, we’re now playing tug of war.
Housing prices aren’t lowering that’s for sure and demand is still up there. Inventory is getting a little better, as we are seeing more listings pop up. Yes, folks, those Realtor letters filling your mailbox is no mistake. It’s an ideal situation for all those moving out of RVA or downsizing, but you first timers are feeling the sting of your outbidded tears still.
The best advice I can give to any first time home buyer is patience. If you can’t buy right, open up a savings account and stick it all in there and continue to build those funds because this won’t last forever and interest rates will lower again. What I find helpful in these times is to talk to lenders. The money people have great ways to guide and also give great information on what’s happening on their end.
Two of my most recommended lenders are Mark Horton and Octavio Wilson. Mark knows his stuff and is very good about informing clients and Octavio is equally as good, but with my Spanish speakers. Mark has a podcast that is proving to be quite informational and also a way to ask questions without the commitment of sitting in an office when you are unsure about what you are doing. Check out his videos and feel free to reach out to him or my other preferred lender, Olivia Smith and plan, plan, plan. Then come talk to me and I’ll do the rest!
Check out and subscribe to Mark’s podcast:
Making Moves
Moving can be the biggest headache, but it doesn’t have to be with these great tips!
I have lived in 27 places in my life. That’s a lot of moves. Each move I lost something, each move I broke something, and each move I acquired something new. Let’s be honest, moving sucks. It’s usually hot and as you get older, your friends seem to take vacation on that very date. The only time I loved moving was when the company that hired me to move back to Virginia packed up my stuff and delivered it to my new loft apartment. That was golden, but those other 26 moves were brutal.
This month is #NationalMovingMonth and it’s the busiest moving month of the year. Here are some crucial tips to help you get moving (in particular order).
Get Rid of It! The very first thing you need to do is PURGE. Get rid of anything you haven’t used in 5-10 years. You’re not going to miss it, I promise. Donate to your local church or Goodwill or have yourself a garage sale and make some extra dough. Also purge your fridge, throw away anything close to it’s expiration date or has exceeded it.
Boxes. If you are going to use recycled ones, make sure they are those boxes that your office paper come in or boxes from the ABC Store. These, I find work the best., but make sure to keep them as uniform as possible. Otherwise, buy in bulk and consider specialty boxes for TVs and artwork.
Order your moving company or line up those friends with trucks. Make sure you confirm dates and book in advance. These guys get busy quick and if you are hiring a friend, make sure there won’t be any last minute ditches, give them plenty of time to plan it all out. Get several different quotes and see if you have discounts like AAA.
Pack room by room. I cannot tell you how many times I’ve mixed the bathroom with the kitchen and I’m unpacking spatulas in the bathtub. Label all your boxes clearly and make sure FRAGILE is in big bold red marker! Make inventory lists per box and tape them to the box if you want to get real Type A about it.
Heavy items like books go on the bottom. Pack heavier items in smaller boxes and lighter ones in larger boxes.
Wrap your glass items carefully. I like to actually use towels/linens for this and to use to fill in empty gaps with the same to keep things from moving around.
Pack a bag with clean clothes, essentials, and important docs. Who knows when you’ll be able to get to these after a move.
Practice Tetris. Seriously, outlining the back of your moving truck can help save time and energy and help you organize things. Just get some tape and map out your measurements in your house.
Keep Clothes on Hangers. You would think it would be easier to take your clothes off of hangers and pack them, but leave them on the hangers, rubber band them in groups and slip over garbage bags to protect them. Voila!
Make sure you schedule your utilities. You don’t want to be moving in the dark or not be able to take a much needed hot shower.
Invest in bubble and shrink wrap!
Make sure you take the shades off of lamps, legs off of tables, and remove drawers.
Invest in a dolly and ramp, it will help your back and save you time. Consider making a ramp to get heavy objects upstairs. Physics, people, physics!
Make sure all toiletries are tightly closed and ziplocked. Not fun finding shampoo all over your box of facial creams and hairbrushes.
Pack small things in empty containers like pots. This is a space saver!
Here is a big one and one I did on my last move. Take photos of your electronic setups. TRUST ME, you do not want to hook up your speakers to your router. In addition to this, wires should be neatly wrapped and labeled. I found this really cool hack that will keep them all organized and easy to pack.
Early morning moves are more encouraged. Get it done and over so you can sit in the AC and unpack. Once that sun gets going, it gets harder. Of course we can’t always choose when we are going to move. If you look at the forecast and it’s going to rain on moving day, you might want to pack up a few days earlier.
HYDRATE! Make sure you and your team are hydrated and also, if your friend is helping you out, make sure they are taken care of with food and drinks.
What are some of your favorite moving tips? Feel free to share in the comments section. If you have an exceptional agent (ahem), they will set things up for you and give you good recommendations on moving companies. Some, even will provide their own moving truck for your convenience. No matter what your move entails, welcome to a new beginning!
Listing Commandment: Thou Shall Update
Updating your home will add the most value to it’s sale. Put a little elbow grease and reap the rewards…
When I go on a Listing appointment, I have to be honest with my clients. If I were one myself, I surely wouldn’t want my agent to skirt around issues that may not be helpful in selling my house. Depending on the age and lived in status of your home, I usually suggest “improvements” to add value to your sale. Look, I know you don’t like homework. I get it, all you want to do is sell your house with minimal efforts and move on. As with all things this big in life, it is always good to plan ahead.
Kitchens and Bathrooms. It’s the two things in a home that most people pay the closest attention to when buying a house. They can be costly renovations from anywhere of $15K and upward. Any renovation can put a strain on your wallet, but some quick and simple amendments to your home can change the overall value of it. So ask yourself, do you want to get the greatest value for your home? I’d say, “duh”.
Here are a few suggestions to help enhance your home sale:
Painting is easy, a fresh coat of neutral paint goes a long way!
Radiators. If your radiators are no longer usable. Drain them and get rid of them. This will add space and ability to switch furniture around.
Windows. If you have any non functioning or broken windows, go ahead and replace them. This tends to show up on appraisal reports.
Update Light Fixtures. Take out those “boob” lights and replace them with modern chandeliers or pendant lights. If you have rooms that don’t have overhead lighting, seek to add it.
Repairs. If the toilet is broken, have it fixed. If you know of a roof leak, have it repaired. If little Johnny put his foot in the wall while pretending to be a Thundercat, mend it. If there are lights without bulbs or don’t work, fix it. Damage or non-working fixtures that will cause a buyer’s eye to wander can be easily replaced.
Borders. You bought in the 90’s and you never got rid of that kitchen floral border. My mom has this in three different rooms, I told her to remove it already!
Wallpaper. Wallpaper is a pretty chic addition these days, but if your wallpaper is from the 70’s giving you flashbacks of Aunt Mabel’s Jello casserole, you may want to get rid of it.
Carpet. If there are hardwoods, expose them. You can easily check this by simply pulling up a corner using a butter knife. I cannot tell you how many houses I show where buyers ask if there is hardwood underneath. If it was a newish installed carpet, have them steam cleaned. If you have dull looking hardwoods, have them refinished to give it a whole new refresh.
Dated Appliances and Systems. Find stainless at the Scratch n’ Dent or Marketplace, or you can check out some local estate sales and find some gently used ones. Replace old (15+ years) Heating and cooling systems as well as water heaters and washer/dryers with updated ones. You don’t want a buyer who enters a freezing cold living room during showings. The more energy efficient the better.
Cabinets. If you don’t replace them, paint them for a quick update. You can also add some nice pulls and handles to give it an extra oomph.
Countertops and Backsplashes. Consider replacing countertops with Quartz or Granite and add a tile backsplash to your kitchen or bathroom to add some color or texture to it.
Bathroom and Kitchen Fixtures. Everything’s coming up brass/gold/black these days, so my suggestion would be to replace faucet, showerheads, towel racks, drawer/cabinet pulls with something elegant and modern. Just make sure it’s cohesive per room.
Source: Houzz
Create a functional foyer. If you have an actual foyer, make it functional. Add a makeshift mudroom, under stairs storage or pet kennel, or simply adding some contrast by battening the walls or adding wallpaper to your stairwell can enliven your entryway.
Add Built-ins. People love a flanked fireplace with built-ins. Consider your space and whether this would be a nice feature to add to your home’s look.
Add a patio or deck. This can be an inexpensive feat that will create an inviting option for potential buyers and add value. Who doesn’t love outdoor entertaining.
Sheds. Simply organizing a workshed to show off space and functionality can be beneficial. If you can recreate it into a home office, that would be highly desirable to a lot of buyers these days.
Other Simple Improvements
Ceiling Fans. If these are dated, replace them with more modern looking ones.
Replace Vinyl Flooring. Adding tile floors to bathrooms and kitchens is always a desired feature.
Knock out a wall. If it’s feasible to create an open space, do it. That particular floor plan has not died out.
Add Shelving. Add shelving to your laundry room if it doesn’t have it. Take out wire shelving in walk-ins and replace it with wooden ones. Gives it a whole other look.
Basements. Consider finishing it off, it’ll add to your square footage and can be marketed easily.
Spruce up your front porch. You want potential buyers to see themselves here and the front being the first impression, sets the mood for the entire showing. Fresh paint, nice seating, add a porch swing, some plants/flowers, update your house numbers, whatever will attract the neighbors for afternoon iced tea is the ticket.
Mailboxes. If your mailbox is falling off or looks like it’s still gets Reader’s Digest, upgrade it. There are many unique and pretty ones out there.
Front Doors. Paint them, it’ll make the front of your house look more attractive.
Landscaping. Mowed and black mulch will create quick and easy curb appeal. Add flowers for full effect.
Lastly, there are many things I ask clients to do before putting their houses on the market that include thinning it out, professional cleanings, stagings, getting rid of personal items, and so forth. It’s how I earn that commission check. A good agent will give you a tasklist and will be available for questions. A good agent also provides trustworthy resources to assist you in prepping your home for sale. Feel free to contact me and I’m happy to do a consult with you regarding the sale of your home.
All the House is a Stage
To stage or not to stage, that is the question…
To stage or not to stage, that is the question.
I get asked all the time on listing appointments whether it is a good idea to stage. In the past, I have always been adamant about not staging a home. Why? Well, in my humble opinion, I like to let buyers use the blank canvas to work out what they see their home to be. I also like them to see how much space they are getting. What have I learned in recent experience? People lack vision.
Sometimes buyers have a hard time imagining what the home is going to look like with their artwork on the walls and their furniture placed about. I went on a listing appointment recently where i did bring a staging consultant in and I was impressed to say the least. I think for me I get tired of seeing the same layouts and themes, and so me, as an individual don’t see it as “homey” or “lived in”. Finding a stager who brings personality, warmth and charm is important because lots of people are still actually living in their homes while listing, but also need to have their homes look attractive for showings.
Having a stager also nudges sellers to start organizing and prompts them to get rid of things they no longer need within the home. I always tell my clients, “less is more”. When buyers come in or I’m working with them, I want them to have their line of site clear of obstructions. I like for them to see that placing a chair from this wall to a corner, will create space. I want them to utilize their unique furnishings and decor without making it look to personalized. And yes, I know how difficult is for someone to come into your home that you’ve loved and lived in comfortably and directly tell you all the things that should go. But then again, it’s getting you used to the idea that, this is a chapter that is ending and you have a new one to look forward to and trust me, your home is going to look like the beauty siren it needs to be to ensure a quick sale.
“Staging can get your home sold faster, too. According to HomeAdvisor, homes that have been staged spend between 33% and 50% less time on the market. That not only means getting the proceeds of a home sale faster but also spending less money on added expenses such as a rental or storage unit while you wait for the sale to happen.”
Here are a few tips when considering staging:
Purge. Organize. Declutter. - I cannot stress this enough, if you want your house to look attractive, get rid of overflowing tchotchke shelves, filled to the brim closets, overcrowded bathroom vanities (nobody wants to see your gnarled haired razors or makeup infested counters). This also makes it a lot easier and more efficient for if you do hire a stager.
Hire a Professional Consult - Some agents use a preferred stager (myself included), but getting an expert to walk through the house to see what they are working with and making notes for you to do the staging yourself or having them do it, can be incredibly valuable. Some agents even include this in their services and pay the few hundred dollars themselves.
Buy it Cheap - baskets, glass vases, fruit, artwork, etc are all things that can highlight your home when listing. Check out the dollar store or a thrift store to purchase these items.
Include Landscaping - Yes, even the exterior of your house should be staged. Fresh mulch, colorful flowers, a bistro set on the porch are all things you can do to increase curb appeal.
Consider the Olfactory - smell is important when staging a home, especially if you have pets! Coffee, boiled lavender or cinnamon, simple scented candles (ex. fresh linen, apple pie, pumpkin spice or vanilla)
Change out Your Air Filters - people always forget about these but changing them out and also opening windows to let air circulate is a good rule of thumb
Professional Cleaners - I swear by them before listing. They will get rid of dust, odors, and gook on the windows and mirrors. If you have carpets, get them steam cleaned right before listing. I cannot tell you how many houses I’ve shown and the carpets are disgusting and smell bad.
Cost - to stage a whole home can be expensive. It can be from $600 to upwards of $2,000+ which may or may not include setup and breakdown fees. Some stagers will allow for payment at closing, but most are upfront fees. Also, consider if you are using a storage unit to house your “clutter”, that’s an additional monthly fee.
I always wonder how many moms, dads, aunts, and real estate agents go through staged homes and say, “Oh, that’s a nice design feature.” or “My house is similar to this and I just love how they arranged this room.” I do it all the time. So, as much as I want you to list your house, you may just want a redesign of the one you have. Feel free to contact me and I can get you a consult scheduled with my preferred organizer/designer/stager.
Real Estate Predictions for 2022
You’ve heard it all before and now their playing the same tune, but 2022 housing market is still going to be a strong one.
Well here we are in a hurry for the end of another weird and wacky year. I’ve answered the “So, how’s the market doing?” question a bazillion times this year and always with the same answers:
“Yes, Margaret the market is still hot and remains a seller’s one!”
”Yes, John lots of buyers, but scarce inventory.”
”I’m sorry, Paige, but you did just lose your 11th offer in a week, you wanna try for 12?”
”Yes, Bill, New Yorkers and Californians are richer than you and have a wad of cash in their vests.”
“Yes, Trina, if you want this house you have to bid xyz over and waive all inspections.”
From Keeping Current Matters
It’s been brutal to say the least. I’m not complaining, I mean I did very well during Covid considering and my buyers did find their dream homes, but I do feel for all my first time home buyers. That’s why I advise to start planning ahead if you want to find home.
What does it look like in 2022? Pretty much the same. We are starting see the rise in mortgage rates and a competitive job market which will only lead to higher demand. Additionally, housing prices will increase by as much as 3%. I foresee an uptick in gentrification in metro areas and still more millenials moving to suburban areas. Rent prices are also continuing to rise making demand for home ownership more desirable amongst the younger generations. I generally think we’ll be seeing more of the same with demand high, inventory low, and more big city transplants.
2022 will see the slow rise of housing prices and even through the slower, cooler months we are seeing lots of activity. If you own land, I suggest getting the most out of it— build a smaller property to provide short term rental or sell a parcel you can spare. As I’ve preached before, Winter is a favorable month to buy due to a decrease in competition while having the ability to take your time while searching for a home. So no Karen, the housing market isn’t slowing down one bit.
If you’d like to know more about thriving areas or information on the value of your home, please feel free to contact me!
Take Advantage of the Home Energy Assessment Program
Take advantage of the Home Energy Assessment Program and get ready to save some energy costs…
As we all know, the colder months are ahead and as we struggle to get back on track with the recent financial setbacks caused by Covid, it’s time to discover some efforts to save on our energy costs. Did you know that Dominion has a Home Energy Assessment Program that provides customers with an in-home energy assessment where a qualified participating contractor will conduct a 30-60 minute walk-through of your home and install simple measures like LED bulbs and water heater pipe insulation, while identifying other energy-saving opportunities?
These additional opportunities, which may require separate appointments with specific contractors, include:
Heat pump tune-up
Duct sealing and insulation on heat pump systems and central air conditioners
Heat pump system upgrades
Upgrade to heat pump water heater
ECM fan motor replacements on heat pump systems and central air conditioners
Cool roof installation
It’s also the time to begin looking at winterizing your home. Sealing windows to prevent drafts, cleaning and maintaining your fireplace and chimneys, and checking your gutters are a good start to ensuring your home is prepared for the Winter months.
Tips for Open Houses
Tips for open houses
So you’ve decided to venture out and start looking at potential homes to purchase. As an agent, I’ve done a ton of open houses, but as a consumer as well, and I tend to have a keener eye. We can get distracted by staging and pretty details of the home, which is fine, but there are few things you should be looking out for while touring homes. If you have a contractor you work with or know, ask them to come along and they can spot defects a mile away. I’ve gathered a few tips for you as you venture out to find home.
Toolkit
Tape Measures can come in handy when determining if your must have new stove is going to fit
Cameras will help you remember, sure there’s the pro photos of the homes, but nobody is going to capture that suspect crack you see. You are also seeing a lot of houses, so it helps to remember.
Notepads are great to take with you on your tours, it helps you write down what you really like and dislike as you are going through different rooms that will help you determine your keepers and your no thank yous.
Look Up/Look Down
Check out the ceilings in a home. They can be telling by the cracks and color. How big are the cracks (could be a foundation problem)? Is there discoloration or any water marks leading to a leaky roof?
Are the floors warping? Check out baseboards and look under sinks for evidence of mold (black spots).
Don’t be afraid to lift up carpets that could be hiding damage or a moisture issue.
Look Out
Open and close windows and doors to see if they stick or are hard to open, this could be a foundation issue as well.
Check to see if there are drafts coming in and out of accesses. Also feel around electrical outlets.
If you see windows that have condensation, the sashes are broken and need to be replaced. Windows are pricey!
Look for termite evidence, if you see discarded wings or piles of sawdust, might be a sign.
Pay attention to smells, does it smell like mold or cat urine?
Storage
This gets neglected sometimes. Honey, if there is not enough room for my shoes, I’m passing! Seriously though, look to see how much storage space you have. Is there an attic or basement? Are there other closets outside the bedroom? Is there storage above the kitchen cabinets or enough to put Grandma’s China in? Is there outdoor storage, a shed or garage?
ChChChanges
Some houses come decked out with all the appliances, but some are not blessed with say a dishwasher, will you have room to install one?
If you are anything like me, layouts are super important. I like to change up my rooms every 6-8 months for refreshing and new energy (yeah I’m hippy dippy like that), check to see that you can do this. Some rooms will allow for a TV to go in one place and one place only, leaving you with years of unchanged furniture arrangement. Can you move your bed to another wall? What if you guys have a kid to teen situation, can you transform their room from twin beds to full, and will you be able fit a bigger dresser for their identity crises ensembles?
Ask
How old is the roof?
How old is the HVAC?
Has electrical been updated?
Why is the seller selling?
Has there been any price changes?
How long did they live there?
What’s the neighborhood like?
Have any updates been made to the home?
Is there an HOA?
If there is a well and septic, ask when was it serviced last, same with HVAC.
Are there any offers in hand?
The agent hosting should be able to answer all your questions.
We ask that…
As agents who host open houses, we want to supply our clients with the best feedback so be forthcoming with your likes and dislikes of the home.
Sign in when asked to, we aren’t in the habit of giving your information away, it is more for us to have a number of attendants and to make notes of feedback and to send out thanks.
If you can, don’t bring your kids. Nobody wants to see Johnny decide to use the half bath with door wide open, it will take the distraction away.
Wear floor friendly shoes.
Be considerate of other buyers while touring the house, give people space.
Be a visionary. Look at the potential of the home, that downstairs basement bar might not be your cup of tea, but could potentially be your teens lair or a great Airbnb situation.
Talk to the neighbors. You will be quite surprised at how much gets revealed in doing that. You definitely don’t want to be living next to Ugly Naked Guy or across from Mrs. Kravitz. Also explore the neighborhood, see what’s around.
Most of all this should be a fun experience. Make sure your agent is on hand so you can write an offer quickly when you find The One and get pre-approved! Happy House Hunting!
- Jo Ann L. Breaux, Realtor