Blog - Leagan Realty

Sell Your Home Without Losing Precious Holiday Family Time

December 11, 2013 by lizlaurenb Leave a Comment

Sell Your Home Without Losing Precious Holiday Family Time Putting your home on the market during the holiday season might seem like you’re just inviting stress and frustration to come knocking on your door. However, December is a great time to sell because there are few homes on the market, buyers are serious and your house will be decorated to look nice and cozy.

With the tips below, you can get your home ready to sell and ensure important family time by having the kids help out.

Hire A Real Estate Agent

Employing a professional will allow you to unload the worries that come along with selling a home. Your real estate agent will burden the pressure — and work — of finding the perfect buyer for your home. This will free up your time to enjoy the season with your family.

Get The Kids Involved

With your house up for sale, you don’t want to go too crazy with decorations. Make a day out of decorating and have the kids help you put up your more tasteful trimmings.

Then you’ll be creating family memories and making your house festive for the season. Avoid any overly religious decorations and try to go for a winter theme.

Shoot A Video

Have your teenager be the cameraman while you narrate. Or, for an even more adorable virtual tour of your home, have your child describe each room. Then post the video on your home’s website for buyers to view.

Not only will buyers get a feel for your home, but you’ll have great memento of where you lived once you move.

Create A Cozy Retreat

Use low lighting, build a fire, play classical music and turn up the thermostat to create a snug environment that buyers and your family will enjoy. You’ll make potential buyers want to linger in your inviting home. And, your family will have fond, homely memories of their last holiday season in this house.

Loosen Up

Keeping your home immaculately organized and clean can be exhausting. Remember that this time of year is all about family. So relax and enjoy yours! If you don’t end up selling your home this December, then there’s always next year — which is fortunately only a few days away.

Don’t let the holiday rush intimidate you when it comes to selling your home. By getting your kids involved, you’ll sell your house and make lasting memories of the final festive season in that home.

Be Prepared For That Next Winter Storm With These Quick Tips

December 10, 2013 by lizlaurenb Leave a Comment

Be Prepared For That Next Winter Storm With These Quick Tips It’s getting cold, and that means you’re at risk for blizzards or ice storms. Depending on where you live, these winter storms can knock out the power for weeks. With these easy tips, you can be prepared for and even enjoy these storms.

Stay Warm

Losing power means losing heat, and that can be a pain. But trust me, you can live comfortably for a long time with no heat. The first step is to dress warm. Lots of light layers keep you warmer than one big coat, so layer up. Wear a hat or a hood as well.

Your body loses most of its heat through your head. It’s also important to insulate your house. Put extra weather stripping or towels under the door and windows. You don’t want any drafts getting in.

Keep Your Water Running

Pipes might freeze during a winter storm as well. It’s important to keep the water running. The water in the pipes will freeze much faster if it isn’t moving. So go to each faucet and tap and turn them on just a little bit, so that they’re barely dripping. That way the water won’t sit still in the pipes and freeze.

Stay In The Loop

Your regular sources of information may be obsolete without electricity. Your computer and cell phone will die quickly, and your television will be dead as well. Keep a battery-powered radio on hand.

It seems old-fashioned, but it’s much more comforting when you know when the power is expected to come back on. Remember that most news like this is on the AM stations.

Check On Your Neighbors

Remember you’re not the only one without power. Put on your snow boots and go see how your neighbors are fairing in the winter storm. Even if they’re the kind of neighbors with an obnoxious barking dog, it’s worth checking in on them. You might bring an extra blanket or two as well.

Stock Up

When it comes to winter storms, it’s better to be over prepared, than not prepared enough. Keep some extra water and canned foods stored in the house. Keep extra flashlights, candles, matches, a camping stove, and maybe some extra gasoline for the car, or generator.

Like a boy scout always be prepared. Most storms won’t be a matter of life and death, but your preparedness will make the storm much more comfortable.

Winter storms can be a pain in the neck, but a little preparation goes a long way. When the power goes out, it’s nice to know that you have everything you need to get by.

Just remember to stock up on supplies, keep your water running, stay up to date, and check on your neighbors.

What’s Ahead For Mortgage Rates This Week – December 9, 2013

December 9, 2013 by lizlaurenb Leave a Comment

What’s Ahead For Mortgage Rates This Week – December 9, 2013 Last week brought several indicators of a strengthening economy. New home sales, private and federal employment and mortgage rates rose.

The Department of Commerce released construction spending numbers for October with mixed results. Although public projects fueled an 0.80 percent increase in month-to-month construction spending, residential construction fell by 0.60 percent.

Analysts had expected an increase of 0.50 percent and also noted that the negative effect of the government shutdown was a “blip.” October’s reading for construction spending was the highest since 2004.

CoreLogic released data that home prices rose by 0.20 percent, which represents a year-over-year growth rate of 12.50 percent for home prices. Pending home sales were suggested that November sales are expected to hold steady as compared to October, and projected year-over-year sales for November at 12.20 percent.

Slower growth in home prices was attributed to higher mortgage rates and a fear of a housing bubble in the West, where demand for homes far exceeds the number of available homes.

Not wanting to buy at the top of the current housing market, some potential buyers may be waiting for the talk of another housing bubble to subside before buying. Robert Shiller, co-author of the Case-Shiller Housing Market Index, noted that home buyers may not be “psychologically ready” for another housing bubble.

New home sales for October were higher than expectations of 419,000 homes sold on a seasonally-adjusted annual basis. October’s reading of 444,000 new home sales was 21.60 percent higher than September’s reading of 354,000 new homes sold. The national median home price fell by 4.50 percent to $245,800 in October; this was the lowest month-to-month reading since November 2012.

The number of available homes fell to a 4.90 month supply in October. This may cause buyers to put their home searches on hold as they wait out the winter months and hope for supplies of available homes to increase.

U.S. Employment Improving, Mortgage Rates Rise

ADP a private-sector provider of payroll services reported 215,000 new jobs added in November as compared to October’s reading of 184,000 jobs added. Weekly jobless claims supported the ADP reading as new jobless claims fell to 298,000 against expectations of 325,000 new claims and a prior reading of 321,000 new claims.

The Bureau of Labor Statistics brought more good news with its Non-Farm Payrolls report and Unemployment Rate for November. Non-Farm payrolls added 203,000 jobs in November against expectations of 180,000 jobs added and October’s reading of 200,000 jobs added.

The National Unemployment rate dipped to 7.00 percent in November against expectations of a 7.20 percent reading and October’s reading of 7.30 percent. The Federal Reserve has set a benchmark unemployment rate of 6.50 percent as an indicator of economic recovery.

Last week’s strong economic news boosted mortgage rates; Freddie Mac reported that the average rate for a 30-year fixed rate mortgage rose by 17 basis points to 4.46 percent with discount points lower at 0.50 percent.

The average rate for a 15-year fixed rate mortgage also gained 17 basis points at 3.47 percent with discount points at 0.40 percent. The average rate for a 5/1 adjustable rate mortgage rose by 5 basis points to 2.99 percent with discount points at 0.4 percent.

What’s Coming Up

This week’s scheduled economic news includes Retail Sales, Weekly Jobless Claims and Freddie Mac’s report of average mortgage rates.

4 Safety Tips To Prepare Your Home For the Cold Weather

December 6, 2013 by lizlaurenb Leave a Comment

4 Safety Tips To Prepare Your Home For the Cold Weather As the temperature drops and we don more layers, it can be startling to realize how cold it’s actually gotten.

So before the snow starts piling up at your door, you’ll want to get yourself prepared for winter and the harsh conditions it can bring.

Below are a few cold weather safety tips to keep you and your home secure from Frosty’s frigid touch.

Keep The Cold Out

If you haven’t already winterized your home, then now is a good time to do it. Add extra insulation in your attic and walls, if possible. Caulk around windows and doorframes to keep the warm air in and the cold air out.

Prepare An Emergency Kit

In case your power goes out, you want to be sure you’re prepared to brave the cold weather for a few days. You’ll want a backup heat source, such as a generator or wood-burning fireplace.

You’ll also need at least a three-day supply of water, non-perishable food items, flashlights with extra batteries, battery-powered cell phone chargers and a medical kit that includes prescriptions.

Be Cautious When Warming Your Home

Make sure you’ve replaced the batteries in your smoke and carbon monoxide detectors. While turning on your heater will probably be fine, you should take extra precautions since it probably hasn’t been fired up for months.

Also, be extremely careful with space heaters. Make sure they’re away from anything flammable, and always turn them off before you go to sleep.

Care For Your Pipes

Frozen pipes are costly to fix. Your pipes can freeze and cause water damage when they thaw. And, not being able to access clean water can be major inconvenience.

To prevent frozen water, keep your home at a constant temperature day and night. If the power goes out, turn your faucets on to get a small trickle and open up all the cabinets to circulate warm air around the pipes.

Don’t let a snow or ice storm catch you unprepared! From survival storage to heating your home, the better you equip your house now to handle the cold weather, the less you’ll have to worry about when the power goes out.

Utilize the safety tips above to get your family and your home ready for whatever winter might blow at it. For more around the home tips or how to stay warm in a new home this winter, contact your trusted real estate professional.

Creative Holiday Storage Solutions

December 5, 2013 by lizlaurenb Leave a Comment

Creative Holiday Storage Soluttions Every holiday season when you get out the decorations, there always seems to be a period of organization where you need to untangle lights, sort out the broken ornaments and just get all of the trimmings in order.

Next year, skip the hassle of sifting through everything. The year-to-year holiday storage strategies below will help make next December’s decorating easy.

Hide Paper Up High

Utilize a space that is always vacant — the ceiling of your closet. Attach two strings of wire from the front wall above your closet door to the back wall. Make them parallel to each other and about two feet apart. Then you can slide your wrapping paper tubes across the two wires. No more crinkled or torn paper!

Bag Your Lights

The hassle of untangling holiday lights every year can become a dreaded tradition. A smart solution is to invest in inexpensive gallon-sized sealable bags. Label what each bag’s lights are for, such as the tree, mantel or outdoors.

Wrap individual strands around your arm and them place them inside the appropriate bag. Put all bags in one holiday storage container.

Recycle Wrapping For Your Breakables

After you’ve ripped off the wrapping and gotten to the goods, don’t just throw your pretty paper out. Reuse it! Run it through the shredder to create fun filling for the boxes that hold your ornaments and breakable decorations.

Get Crafty With Labels

Instead of writing straight onto the holiday storage bins, tape or glue festive envelopes to the side. Then you can write a list of everything in that box and put it in the envelope.

For those who like everything clean and organized, this means that if you switch out anything in the box, you don’t have to mark it out on the side — just change the paper inside the envelope.

Display Holiday Cards Creatively

Receiving holiday cards is a great way to keep in touch with distant family and friends. Instead of throwing the cards away each January, use a hole punch to create two holes in the sides of the card.

Then insert jump rings to make little picture memory books that you can display on the coffee table every year. For more around the home tips or if you are looking to buy a home with plenty of storage space, contact your trusted real estate professional.

5 Tips On Selling Real Estate Even In The Brisk Cold

December 4, 2013 by lizlaurenb Leave a Comment

5 Tips On Selling Real Estate Even In The Brisk Cold Any real estate agent will tell you that it’s harder to sell your home in the winter. The days are colder and shorter, leaving less time to show your home to potential buyers.

The good news is that most of the buyers who are looking at houses in the winter aren’t just killing time. They’re serious enough about finding their new home to go house hunting at a time that most people would rather stay inside.

There Are A Few Things You Can Do To Make A Good Impression On Home Buyers This Winter:

Make sure all walkways are safe. Spread out ice melt or sand to provide traction during snowy weather. Shoveling the snow on the driveway and sidewalks will make your real estate appear more inviting and well-maintained. Be sure to place a mat for visitors to wipe their feet on.
Warm up the house. Buyers will remember the house that was pleasantly warm on a frigid day. In addition, you will be able to demonstrate to the buyer that your furnace is in good working order.
For a welcoming scent, bake cookies the day of the showing. Some people are sensitive to the fragrances in air fresheners and perfumes, so skip spraying those when expecting someone to look at your house.
Serve snacks in the kitchen. Give the buyer a reason to linger in your home by leaving a light snack in the kitchen. If the weather is cold, consider providing chili or soup in a crockpot to keep it warm with festive disposable bowls. Or, to keep it simple, you can provide coffee or hot chocolate and cookies. Be sure to talk with your real estate agent before leaving these snacks so he or she knows they’re for the buyers.
Make your house appear warm and inviting. Turn all the lights in the house on; place warm-toned throws and decorator pillows around the living room. Put on some soothing classical or jazz music; keep the volume low enough that buyers can talk quietly to each other.

You can make your home seem more inviting this winter by using these proven techniques.

Are you ready to sell your home? Call your trusted real estate professional today.

Case Shiller Price Index Shows A Spike In Home Prices In The West

December 3, 2013 by lizlaurenb Leave a Comment

Case Shiller Price Index Shows A Spike In Home Prices In The West According to the S&P Case-Shiller 10-and 20-City Housing Market Indices for September, home prices grew at an average of 13.30 percent year-over-year and achieved the highest growth rate for home prices since February 2006.

On a month-to month basis, home prices are slowing in most areas with 19 cities included in the S&P 20-City Housing Market Index showing lower rates of growth in home prices. September’s average month-to-month growth rate was 1.0 percent for the 20-City HMI as compared to 0.90 percent in August, and 1.90 percent posted earlier in 2013.

Home prices increased by 0.70 percent in September for the combined 20-City and 10-City Housing Market Indices tracked by Case-Shiller.

Rapidly Rising Home Prices In The West: Another Housing Bubble On Tap?

Home prices continued rising in the West, with Las Vegas leading the pack with a 29.10 percent gain year-over-year although average home price in Las Vegas, Nevada remains 46 percent than its peak in February of 2006.

California also showed double-digit year-over-year growth for home prices with San Francisco at 25.70 percent, Los Angeles at 21.80 percent and San Diego posting 20.90 percent growth in home prices year-over-year.

Rapidly increasing home prices in the West are largely due to demand exceeding supply, but buyers may be sitting on the sidelines due to concerns over another housing bubble in the making.

Buyers in this scenario are aware of increasing home prices, but aren’t buying now to avoid higher prices later. Instead they are waiting to see what happens with current home prices and housing market conditions in the longer term.

Chicago, Illinois posted its highest year-over-year growth rate since 2005 while Cleveland, Ohio posted a growth rate of 5.00 percent for September as compared to a month-to-month growth rate of 3.70 percent.

This was the second lowest month-to-month growth rate for home prices, with New York City posting a month-to-month home price growth rate of 4.00 percent from August to September.

FHFA Reports Slight Gain In Home Prices

The Federal Housing Finance Agency reported stronger gains in home prices for properties financed with mortgages owned or guaranteed by Fannie Mae or Freddie Mac. In September, home prices reported by FHFA rose by 0.30 percent as compared to August’s growth rate of 0.40 percent.

On a year-over-year basis, FHFA reported a gain of 8.40 percent between the third quarter of 2012 and the third quarter of 2013. Adjusted for inflation, home prices as reported by FHFA have risen approximately 7.20 percent. FHFA noted that home prices are growing at a rate far above the rate of 1.20 percent reported for other “goods and services.”

Lower numbers of foreclosed homes are seen as a boost for home prices in general; as mortgage lenders tend to offer foreclosed homes for sale at low prices in order to reduce inventories of real estate owned.

What’s Ahead For Mortgage Rates This Week – December 2, 2013

December 2, 2013 by lizlaurenb Leave a Comment

What's Ahead For Mortgage Rates This Week -December 2, 2013 The short holiday week brought a flurry of economic reports last week. Highlights included pending home sales, the S&P Case-Shiller Housing Market Indices and the FHFA home price index. No reports were released on Thursday and Friday in observance of the Thanksgiving holiday.

The NAR released its Pending Home Sales report for October. Although pending home sales dropped by -0.60 percent, the decline was less than September’s reading of -4.60 percent.

NAR cited higher home prices and mortgage rates along with concerns over the then-pending government shutdown as factors that contributed to fewer pending sales. Pending sales are determined by signed purchase contracts and are considered an indication of future completed home sales and mortgage loan closings.

Department of Commerce reported that building permits issued increased from 974,000 in September to 1.03 million for October. Permits for multi-family dwellings rose by 17 percent from September, but permits for single-family homes rose by 1.00 percent.

A lagging supply of available single-family homes has been driving home prices up as demand also increases. The multi-family reading reflected the sector’s volatile nature and was largely concentrated in the West.

Case-Shiller And FHFA Report Higher Year-Over-Year Average Home Prices

The S&P Case-Shiller 20-City Housing Market Index for September reported its highest year-over-year gain in seven years, but the month-to-month reading was lower. The year-over-year reading was 13.30 percent in September and the month-to-month reading showed lackluster growth at 0.70 percent.

When seasonally adjusted, September’s reading was 1.00 percent against the seasonally-adjusted August reading of 1.90 percent.

In addition to the then-looming government shutdown, concerns over rapidly rising home prices in the West may have caused would-be buyers to sit on the sidelines as fears of another “housing bubble” gained traction.

Rising home prices also impact affordability and impact the ability of buyers depending on mortgage loans to compete with cash buyers.

The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, issued its housing market index report for September. Based on sales of homes financed with Fannie Mae or Freddie Mac-owned mortgages, FHFA’s report indicated that year-over-year home prices at an annual rate of 8.50 percent in September as compared to August’s year-over-year reading of 8.40 percent.

Economists noted that the increase of home prices is slowing due to a number of factors including higher mortgage rates and restrictive lending policies that are making it more difficult for buyers to purchase homes.

Analysts said that next year could bring a more sustainable rate of home appreciation with year-over-year readings averaging between five and eight percent.

Freddie Mac issued its weekly Primary Mortgage Market Survey on Wednesday; average mortgage rates for 30 and 15 year mortgages rose to 4.29 percent and 3.30 percent respectively.

Discount points for fixed rate mortgages were unchanged at 0.70 percent. The average rate for a 5/1 adjustable rate mortgage dropped by one basis point to 2.94 percent with discount points unchanged at 0.50 percent.

What’s Ahead

This week’s scheduled economic reports include Construction Spending, ADP Employment, New Home Sales and the Fed’s Beige Book. The Bureau of Labor Statistics will release its Non-farm Payrolls report and the national unemployment rate.

Weekly jobless claims and Freddie Mac’s Primary Mortgage Market Survey will be released as usual on Thursday.

Ensure Your Fireplace Is Up To Snuff

November 29, 2013 by lizlaurenb Leave a Comment

Ensure Your Fireplace Is Up To Snuff When it’s cold outside, there’s nothing quite as cozy as curling up on the sofa with a good book in front of a roaring fire. A fireplace evokes the idea of a warm and pleasant atmosphere.

However, if it isn’t properly maintained, your living room could be filled with a cloud of soot, or worse, fire. A fireplace not only creates a snug setting, but most are actually functional and can help heat your home.

Harness their heat and generate the ambiance of a softly lit living space by following the tips below to ensure yours is properly maintained and working efficiently before the first cold spell hits.

Clean It Regularly

Have your chimney cleaned out twice a year. The recommended number varies depending on how often you use your hearth. However, you should have it cleaned every fall to ensure it’s properly vented so that smoke has a way to escape.

Also, you’ll want to make sure that no animals have made their home there over the summer.

Close The Damper

Make sure you close the damper when you’re not using the fireplace. You don’t want to make your furnace work overtime because warm air is sneaking up and out the chimney.

Install A Chimney Cap

If your home doesn’t have a chimney cap, then have one installed. These help to prevent snow, leaves, animals and other debris from falling down the chimney. Caps also help keep downdrafts from gusting into your living area.

Burn Firewood Only

A fireplace isn’t the spot to burn your broken chair or ex-girlfriends photos. Painted wood, plastic and other treated wood surfaces can release chemicals into the air of your home. Worse, they can coat the interior walls of your fireplace, so you continue breathe them in for the next couple of fires.

Mount Smoke Alarms

If you don’t already have them, mount smoke alarms near your hearth and in every bedroom. Consider installing combined carbon monoxide and smoke detectors if you have a home with a gas-burning fireplace.

Don’t use your fireplace without taking the right precautions. Get it cleaned, and if it’s your first use, then be sure to get it inspected beforehand. Make the hearth in your home the heart of your home by following the tips above to ensure it’s up to snuff this fall.

Get The Low Down On Pending And Existing Home Sales This Month

November 26, 2013 by lizlaurenb Leave a Comment

Get The Low Down On Pending And Existing Home Sales This Month The National Association of REALTORS reported Monday that pending home sales dropped by -0.60 percent in October after falling at a revised rate of -4.60 percent in September. According to Lawrence Yun, chief economist for NAR, 17 percent of real estate agents reported delays in loan closings due to the government shutdown in early October.

Lenders were unable to verify borrower income through the IRS, which was closed during the shutdown. October was the fifth consecutive month with fewer pending home sales reported.

Homeowners who owe more on their mortgages than their homes are waiting to sell, and recent spikes in mortgage rates were cited as factors contributing to fewer pending sales.

Pending home sales are defined as homes for which signed purchase offers have been received and are considered an indicator of future home sales. The NAR notes that most pending sales close within 30 to 60 days of an offer being signed.

High Demand And Low Supply Of Homes Thwarts Buyers

Would-be homebuyers may be including their dream homes on their wish lists for the holidays as many areas continue to experience a short supply of homes against high demand. In desirable areas this can lead to bidding wars and homes being sold before they are listed for sale.

Cash buyers are benefitting from these situations, while first-time and moderate income buyers may be sidelined due to affordability issues and the inability to compete with cash buyers.

Mortgage rates fell last week and the previous week. While a recovering housing market has been causing home prices to rise, economists described current readings for pending sales as a “pause” in the housing market recovery and said that a significant decline in home sales could adversely impact overall economic recovery.

Regional Pending Sales Mixed

Pending sales for the Northeast and Midwestern regions increased slightly and declined in the South and West. This suggested to some economists and analysts that the formerly hot housing market is cooling off along with the weather. Some decline in home sales is expected during fall and winter months.

Sales Of Existing Homes Better Than Expected

October sales of existing homes surpassed expectations of 5.10 million sales with a reading of 5.12 million existing homes sold. Again, the government shutdown and related concerns of consumers and home builders were cited as reasons for sales falling shy of September’s reading of 5.29 million existing homes sold.