Blog - Leagan Realty

How To Bring More Natural Light Into Your Home

July 25, 2013 by lizlaurenb Leave a Comment

How To Bring More Natural Light Into Your Home One of the biggest improvements that you can make to your home is to bring in more natural light.

Sunlight is a powerful mood enhancer and a home design that brings in a lot of natural light will automatically look and feel much more pleasant. Not only will it boost your mood, bringing in natural light will also increase the value of your home.

So how can you shed some light on your home’s interior?

Here are a few ways:

Add More Reflective Surfaces

Whenever you add a light and reflective surface to your home, you increase the number of times that daylight bounces around inside the room.

Try painting your ceilings and walls with light or off-white colours. Matte finishes are actually better than glossy surfaces, as they reflect light in all directions at once. Add some metal accents and some mirrors to the space, which will also reflect the light.

Move Your Furniture Around

Do you have furniture that is blocking natural light from coming in? Move your furniture away from the windows so that it will not get in the way of the sunlight streaming into your home.

Add A Glass Door

Is there anywhere in your home where you can exchange a solid door for one with glass in its design? This will allow the light to flow through the doorway and increase the feeling of brightness in your home.

There are plenty of glass doors with superb security features, so they will be just as safe as any other door. Also, if you have a yard or a patio to look out on, adding sliding glass doors will be a great way to let the light in and enjoy the view.

Expand Your Windows

Is it possible to increase the size of any of your windows? If yes, the windows on the south side of the house, will bring a significant amount of sunshine into the home.

Add A Skylight

Adding skylights to your home will bring a lot of natural light into the interior. Also, they are much more private than windows because anyone passing by will not be able to see through them. They also add overhead lighting, so that you will not need to use electricity during daylight hours.

These are just a few ways that you can let the sunshine in and bring more natural light into your Scottsdale home.

If you have any other home questions, please contact your trusted real estate professional today.

Existing Home Sales: Second Highest Level Since 2009

July 24, 2013 by lizlaurenb Leave a Comment

Existing Home Sales Second Highest Level Since 2009

According to the National Association of REALTORS®, national sales of existing homes in June came in at 5.08 million.

June’s reading was reported to be the second highest since November of 2009; this should calm concerns about a lapsing recovery in housing markets.

Summer typically produces the highest prices for existing homes sold, as families seeking larger homes frequently move during summer months.

The June inventory of existing homes improved by 1.90 percent to 2.19 million homes or a 5.20 month supply. June’s number of available homes was 7.60 percent lower than in June 2012.

The shortage of available homes has been causing buyers to turn from existing homes to new homes in areas where both available homes and/or land for new construction are in short supply.

Average Home Prices Continue Their Climb Nationally

So the news of more existing homes for sale is good news for home buyers and housing markets that have been held back by an excess of buyers seeking a short supply of available homes.

NAR chief economist Lawrence Yun noted that inventories of existing homes are expected to “broadly favor sellers and contribute to above-normal price growth.”

This trend was supported by June’s national average price for existing homes at $214,200, which represented a year-over-year increase of 13.5 percent. Rising home prices and mortgage rates continue creating financial challenges for first-time buyers and others seeking affordable home prices and mortgage loans.

Distressed home sales were down from 18 percent in May to 15 percent in June; this is the lowest market share since tracking began in 2008. June sales of distressed homes were significantly lower than in June 2012’s reading of 26 percent of existing homes sold.

The National Association of REALTORS® noted that falling levels of distressed sales are contributing to higher prices for existing homes.

FHFA Reports Home Prices Rise In May

The Federal Housing Finance Agency (FHFA) reported Tuesday that prices for homes financed by Fannie Mae and Freddie Mac rose by 0.70 percent in May as compared to April’s downwardly revised 0.50 percent increase in home prices.

According to the FHFA Housing Price Index (HMI), home prices were up by 7.30 percent year-over-year in May, and are roughly equal to home prices reported for January 2005. May’s home prices remained 11.20 percent below peak prices reported in April 2007.

May’s FHFA data demonstrated steady growth of home prices for all nine census divisions on a year-over-year basis with home prices increasing from 2.70 percent to 15.80 percent in May.

First Things First, What To Do Upon Moving Into Your New Home

July 23, 2013 by lizlaurenb Leave a Comment

First Things First What To Do Upon Moving Into Your New Home If you have purchased a new home and are going to move in soon, what are the first few things that you will need to do upon moving into your new home?

Moving can be very stressful, but having a checklist can make your move effortless.

Here are 6 easy steps that can eliminate any frustration and help you feel safe and secure:

Change Your Address

You will need to change your address for all magazine subscriptions, bills and other services. You can update your mailing address online or visit your local post office to find out what needs to be done.

Set Up The Utilities

When you move into a new home, you may get all of the contact information from the previous home owner or real estate agent for the utility companies. Be sure to change the services into your name before you move in, such as gas, cable, electricity, internet, telephone, sewer and water.

Change The Locks

You have no way of knowing who the old home owners gave a copy of the key to, so having the locks changed is something that you should do right away when you move into your new property.

Have The Carpets Cleaned

Get your life in the new house off to a fresh start by having the carpets steam cleaned before you move your furniture in. You could either rent a steam cleaner or pay a carpet cleaning service, but either way this will make the house feel really clean and new.

Figure Out Your Breaker Box

Another important first step to owning your new home is to figure out which breakers control each part of your home.

Knowing how the breaker box works will ensure that you can flip the right switch when you need to. You might need to ask someone to help you by standing in another part of the house and letting you know which lights come on or off when you flick the switches.

Check Your Smoke Alarms

The smoke alarms and CO monitors in your home might not have been checked recently, so make sure that they are functioning properly. Depending on how old they are, you might need to change the batteries. This is an important maintenance task for your own safety.

These are just a few of the important first steps that you should take when you first move into your brand new home.

For more information about buying a new home, feel free to contact your trusted real estate professional today.

What’s Ahead For Mortgage Rates This Week – July 22, 2013

July 22, 2013 by lizlaurenb Leave a Comment

What's Ahead For Mortgage Rates This Week July 22 2013 Last week’s economic news was a mixed bag with retail sales and housing starts coming in lower than expected, but home builder confidence in housing markets increased.

Weekly jobless claims fell, and Fed Chair Ben Bernanke testified before the Senate, saying that falling gold prices were an indication of increasing confidence in the economy, but that it was “way too soon” to say when the Fed’s quantitative easing program would be reduced.

Monday: Retail sales for June came in lower than expected at 0.4 percent. Economists estimated a reading of 0.9 percent based on May’s reading of 0.5 percent.

Tuesday: June’s Consumer Price Index (CPI) came in as expected at 0.5 percent against May’s reading of 0.1 percent. The NAHB/Wells Fargo Housing Market Index (HMI) for July gained five points for a reading of 57, which exceeded expectations of a reading of 52. Builders cited a short supply of existing homes and falling materials prices as factors contributing to June’s stronger reading.

Wednesday: Housing starts in June fell to a seasonally-adjusted annual rate of 836,000 against expectations of 950,000 and May’s revised reading of 928,000. Regional weather and a surplus of unused building permits were seen as contributing to fewer housing starts in June; analysts did not see the dip in housing starts as a sign of softening housing markets.

Thursday: Fed Chair Ben Bernanke testified before the Senate as noted above and was careful to emphasize that economic data received after the last FOMC meeting indicated that it is “way too soon” for the Fed to change its monthly volume of Treasury bonds and MBS purchases. This is good news for mortgage markets, and possibly for mortgage rates, which fell this week.

Freddie Mac reported that average rates for a 30-year fixed rate mortgage fell by 14 basis points to 4.37 percent; average rates for a 15-year fixed rate mortgage fell by 12 basis points to 3.41 percent; these rates include average discount points of 0.7 percent. The average rate for a 5/1 ARM was 3.17 percent with discount points of 0.6 percent. The 5/1 ARM provides an affordable alternative to rising fixed mortgage rates.

Friday: No significant economic news noted.

What’s Coming Up

This week’s schedule includes Existing Home Sales on Monday; on Tuesday, the FHFA releases its Home Prices report. New Home Sales will be released on Wednesday; Thursday brings weekly jobless claims and the Durable Goods report. The week will finish with the Consumer Sentiment report on Friday.

5 Important Tips To Protect Your Home From Burglars When You Are Away

July 19, 2013 by lizlaurenb Leave a Comment

5 Important Tips To Protect Your Home From Burglars When You Are Away Any family would feel violated after coming home to a ransacked house. Burglars look for specific things when choosing a home to break into, and many homeowners are unknowingly inviting criminals through the front door.

Below are five ways you can avoid drawing the eyes of thieves and deter your home from becoming a target.

Beware Of Selling To Strangers

If you’re wanting to sell items on Craigslist or another internet-based classified ad website, attempt conducting your transactions outside of the home.

If you must meet at home, screen the person over the telephone to ensure that they are truly interested in the item you’re selling. Thieves have been known to make appointments just to check out your home.

Be Careful If You Tweet About It

Not all of your friends protect their social media information, or may not have the most virtuous acquaintances. If you share your upcoming vacation or big event, then a mischievous friend of a friend will know the perfect time to forcefully check out your home.

Learn how to limit your social media posts to only your trusted contacts.

Mind Your Trash

Be careful when it comes to taking out the garbage, especially around holidays. Criminals will drive around nice neighborhoods and specifically look for empty boxes of high-price items. Then all they have to do is wait for you to leave the house before they force their way in and nab the goods.

Break down boxes and conceal them in garbage bags or trashcans.

Prepare For Your Vacation

Make sure when you leave on vacation that you put a few lights on timers and have someone collect your mail. A home that is obviously vacant is every burglar’s dream.

And if you’re on an extended holiday, ensure you also hire someone to take care of the lawn – overgrown grass is a no-one-is-home indicator.

Secure The Safe

Just because you put your valuables in a safe doesn’t mean they’re secure. If the safe isn’t installed in a wall or bolted to the floor, then a burglar can just carry it through your front door. They can figure out how to break into it later.

Make the additional time investment to ensure your safe can’t walk out the door.

With a little common sense and by following the advice above, you’ll reduce the risk of your home being targeted by burglars. If you would like more information about keeping your Scottsdale home secure, please call your trusted real estate professional today.

Home Builder Confidence Rises To Highest Level Since January 2006

July 18, 2013 by lizlaurenb Leave a Comment

Home Builder Confidence Rises To Highest Level Since January 2006 The National Association of Home Builders (NAHB) / Wells Fargo Housing Market Index (HMI) rose in July.

Home builder confidence in the market for newly constructed single-family homes rose six points to a reading of 57. NAHB reports that this was the third consecutive rise in the HMI and its highest reading since January 2006.

Three components used in compiling the HMI reading include current sales, which gained five points for a reading of 60. Confidence in prospective buyer traffic rose from 40 to 45, and sales expectations for the next six months rose from a reading of 60 to 67.

HMI: All Regions Post Gains

Regional data reflected gains in builder confidence for all U.S. geographic regions. Regional data is based on a three-month rolling average of builder confidence in each region.

The Northeast gained four points for a reading of 40; the Midwest gained eight points for a reading of 54. The South gained five points for a reading of 50, and the West gained three points for a reading of 51.

Readings of more than 50 indicate that more builders view conditions as good than poor. NAHB Economist David Crowe indicated that growing confidence is driven by factors including lower prices for building materials and more buyers vying for fewer available homes. A shortage of building space and available existing homes is improving markets for new homes.

Housing Starts Decline In June

In spite of growing home builder confidence, housing starts for June fell to their lowest level in nearly a year. Regional weather conditions contributed to the dip in housing starts, which surpassed June 2012 housing starts by 10.40 percent.

June’s housing starts fell to 836,000 on a seasonally-adjusted annual rate, and fell shy of economist’s expectation of 950,000 housing starts. Expectations were based on May’s original tally of 914,000 housing starts, which was revised upward to 928,000 on Wednesday.

Building permits for single family homes moved up by 0.60 percent to a rate of 624,000; this is the highest rate since May, 2008. A significant backlog of unused permits contributed to June’s lower number of building permits issued.

Economists are confident that the housing market continues its recovery, but may face obstacles if the government changes the mortgage interest tax deduction.

Another concern involves the pending “tapering” of the Fed’s quantitative easing program (QE). The QE program, which involves the Fed’s purchase of Treasury securities and mortgage-backed securities (MBS) was designed to support mortgage markets and also helps to keep mortgage rates low.

For specific details on local home building activity in and around Scottsdale , please contact your trusted real estate professional today.

3 Common Home Financing Problems And How To Avoid Them

July 17, 2013 by lizlaurenb Leave a Comment

3 Common Home Financing Problems And How To Avoid Them Getting the best mortgage financing for your new home can sometimes be a complicated process and, unfortunately, things can go wrong. Using a licensed and trusted mortgage loan specialist can help alleviate many of these challenges.

There are certain mistakes that many homebuyers make when applying for their mortgages that can seriously damage their chances of being approved. If you are aware of the most common mortgage issues, you will be better able to prevent them when applying for your own mortgage.

Make sure that you keep the following tips in mind when applying for a mortgage:

Making Large Purchases Before Closing On The Mortgage

Many homebuyers think that they are in the clear once the mortgage deal is approved and they move forward on another large purchase such as a car or home furnishings. However, it is best to hold off on all major purchases until the mortgage is finalized, as additional debt will change your “debt-to-income ratio” which could mean that you no longer qualify for the loan.

Many lenders pull your credit information right before funding, so avoid any big-ticket items until you have signed on the dotted line.

Switching Jobs During The Mortgage Loan Process

When deciding whether or not to approve your loan, the lender will look at your salary and your job stability. If you make a career move during the process of applying for the loan, this could make your income seem unstable and could cause the bank to decline your loan.

Stay in your job through your home closing date to reassure the bank that you have a stable income; you can always switch careers later.

Having No Credit Card

You might think that the fact that you have gotten by without a credit card for this long would be a positive thing in the mind of lenders. However, having no credit history at all makes lenders nervous, as they don’t know how you will handle credit when you have it.

Instead, get a credit card that you repay in full every month, which will help to show them you can manage your credit responsibly.

These are just a few examples of major mistakes that home buyers make when applying for a mortgage. If you can avoid these issues, you will find it much easier to buy a Scottsdale home.

As always, call your trusted real estate professional today to discuss your personal situation and get the best advice on your upcoming home purchase!

What Are the Hot Home Decor Trends for 2013?

July 16, 2013 by lizlaurenb Leave a Comment

Hot Home Decor Trends 2013 Just like fashion designs and hair styles, home decor trends are constantly changing and evolving. Each new season brings a new must-have feature for your home.

In order to keep your home looking fresh and chic, what are the hot trends for 2013 that you can incorporate into your decor?

Here are a few ideas:

Bright Paint Colors

Vibrant (and even neon) hues are very popular in fashion at the moment and they also look really chic on your walls. If you are looking for a way to freshen up a dull room, a bright pop of color can really do the trick.

It doesn’t have to be overwhelming if you keep the rest of the room neutral and use the bright color as an accent.

Original Artwork

Decorating your home with unique and original works of art from funky local artists is a hot trend this year. You could find such pieces at a local art fair or on online craft auction websites.

You could also check out a local art school or university art program in your area, where you can buy some student artwork at cheap prices.

1920s Inspired Designs

With the Roaring 20s being revitalized on the silver screen in the show Boardwalk Empire and the film The Great Gatsby, designs from the 1920s are becoming more popular. Why not incorporate some gorgeous Art Deco furniture or decoration into your home?

Check out auctions to find authentic vintage pieces for cheap prices.

Simple Wood

Another hot trend for 2013 is unfinished exposed wood furniture, with a very natural texture and feel. These simple wood pieces give your home a natural beauty that compliments any color. It works well with neutral accents to give the home a very peaceful and welcoming atmosphere.

Stripes and Graphic Prints

Crisp patterns, graphic prints and stripes are popular at the moment in everything from fabrics to wallpaper to furniture. If you really want to make your home décor look cutting edge, incorporate some of these eye-popping graphic designs into your décor.

These are just a few of the hottest home décor trends of the year 2013. Which ones will you incorporate into the décor of your home?

For more information about buying or updating your Scottsdale home, please contact your trusted real estate professional today!

What’s Ahead For Mortgage Rates This Week – July 15, 2013

July 15, 2013 by lizlaurenb Leave a Comment

What's Ahead For Mortgage Rates July 15 2013 The Fed’s release of the minutes for the June FOMC meeting was the most noteworthy economic event last week; the minutes repeated the Fed’s recent statement concerning the wind-down of its current monetary easing policy.

The minutes indicated that about half of meeting participants wanted to end the quantitative easing (QE) policy by year end, while “many others” preferred to end the program in 2014.

This split suggests that days are numbered for the Fed’s monthly purchase of $85 billion in Treasury securities and mortgage-backed securities (MBS). The minutes also revealed that the Fed would not be selling off MBS as QE is ended. This would likely prevent additional potential for mortgage rates to increase as demand for bonds would decline when the Fed stops its monthly purchases.

Mortgage Rates Typically Rise When Bond And MBS Prices Fall

U.S. financial markets showed little reaction to the Fed minutes. The Dow Jones Industrial Average saw a quick gain of about 40 points that quickly retreated. The Wall Street Journal interprets the lackluster response to the Fed minutes as investors growing accustomed to the eventual end of the QE program; it’s also possible that the markets interpreted the FOMC minutes as “old news,” as the minutes contained information included in the Fed statement given after June’s FOMC meeting.

The FOMC minutes reported that details of tapering the QE program will be given by Chairman Ben Bernanke during his customary press conference after the Fed presents the FOMC meeting statement. The minutes also asserted that the Fed will closely monitor economic and financial developments as part of their decision-making for ending QE.

The minutes stated that the current Federal Funds rate of 0.00 to 0.25 percent will remain in place for some time after QE is ended.

Mortgage rates rose last week according to Freddie Mac. The average rate for a 30-year fixed rate mortgage moved to 4.51 percent from last week’s 4.29 percent. The average rate for a 15-year fixed rate mortgage rose to 3.53 percent from 3.39 percent. Discount points for both types of loans rose from 0.70 percent to 0.80 percent.

Rising mortgage rates suggest that borrowers may soon return to adjustable rate mortgages or hybrids such as the 5/1 adjustable rate mortgage, which was reported at an average rate of 3.26 percent with discount points of 0.70 percent.

What’s Coming Up

On Monday, retail sales for June will be released. This is an important indicator for the general economy. Tuesday’s news includes NAHB/Wells Fargo Housing Market Index for July.

On Wednesday, Housing Starts for June will be released. Thursday’s news includes weekly Jobless Claims and Leading Economic Indicators. No economic news is scheduled for Friday.

Can That Killer Home Theater Add Value To Your Home?

July 12, 2013 by lizlaurenb Leave a Comment

Can A Killer Home Theater Add Value To Your Home Many home owners dream of having a home theater – an entire room of the home dedicated to enjoying television and film. These rooms are usually equipped with a large flat screen television or projector, comfortable seats, mood lighting and perhaps even a bar or a snack fridge.

They are very comfortable and the perfect place to relax after a hard day. They are also lots of fun for entertaining, as you will be able to watch the big game or the hottest new release with your friends in style.

However, will spending the money on renovating your home to create a theater room be a smart investment? Does this type of home improvement add a lot of value to the property, or will it turn off potential buyers?

Buyers Interested In Tech-Equipped Homes

These days luxury home buyers are becoming much more tech-savvy and they are demanding more networked or ‘smart’ homes than ever before. They are looking for a house which is outfitted with the latest in technology, so a modern home theater will be a desirable selling point. If you are targeting your home to this luxury market, the home theater could give you an edge over the competition.

It is difficult to determine the amount that the home value is affected when you add a high tech home theater, but most real estate professionals will agree that when there are many houses for sale at any given time, the one with an impressive home theater room will be more likely to sell first.

Don’t Take Over Valuable Home Space

The only situation in which the home theater could detract from the value of the home is if it overpowers a medium sized or smaller home that just barely had enough space in the first place. If your home cannot spare the extra room, taking up a lot of space with a home theater will mean fewer bedrooms or living spaces and a potential decrease in value.

However, you might be able to get around this problem with clever solutions that allow you to conceal the home theater unless it is being used. You could hide the large screen behind specially designed cabinets and set up the furniture so that the room can be a living space when not in use as a theater.

Remember that a home theater system is something that will generally only increase the value of your home for certain buyers, as opposed to something like a bathroom renovation or a garage which will be valuable to almost every buyer.

To find out more about upgrades that affect the value of your Scottsdale home, contact your trusted home sales professional today.