How Far Will Your 2014 Housing Dollar Stretch?

While we’re just a few weeks into the New Year, you’ve likely seen headlines showcasing what will cost more this year. You’ll have to dig even deeper into your pocket to pay for everything from food to stamps to college education, travel, healthcare and more. In fact, even your biggest expense — housing — is getting pricier in 2014:

 

Home Values

Zillow Projections: +3% nationally in 2014 While 2013′s double-digit gains in home appreciation were certainly economically beneficial (home prices are back at their peak levels in some areas), let’s be realistic: they’re not sustainable. This year, expect home values to continue to rise but at a more modest, balanced pace of about 3 percent, nationwide.

 

Home Loans

Zillow Projections: 5% As the Fed tapers its bond-buying programs and the economy continues to improve, expect mortgage rates to rise from a current level of about 4.6 percent to 5 percent by the end of 2014, making homes more expensive to finance. For example, the monthly payment on a $200,000 loan will rise by about $160. But there’s a silver lining for potential home buyers: it should be easier to get a mortgage this year because higher rates have slashed refinancing activity, prompting some banks to ramp up their purchase lending. Additionally, there will be more inventory on the market, and less competition from investors, as the home-buying process becomes less frenzied.

 

Home Rents

Zillow Projections: +2.5% nationally in 2014 Rents have been rising for some time and there’s no end in sight, especially now, when the market is seeing limited supply coupled with high demand. The foreclosure crisis, tight credit conditions and economic uncertainty have forced more Americans to rent. Expect rents to continue to rise throughout 2014, so budget accordingly. Research prices in your area with tools such as Zillow’s Rent Index, maintain good credit, and consider bringing in roommates so that you don’t become a statistic. According to a recent report by Harvard Joint Center for Housing Studies, half of all U.S. renters are spending more than 30 percent of their income on rent, up from 19 percent a decade earlier.

ZillowBlog | Author: Vera Gibbons | Published: 1/20/14

How to Prevent Window Frost

I remember waking up as a kid on wintry mornings to find frost on my bedroom window obscuring the trees and yard.

Those were traditional six-over-six windows, with individual panes of glass secured between muntins. With newer construction and the advancement in double-paned window technology, window frost is not as commonplace as it used to be. But it still occurs in plenty of older homes, and while frost formations can be stunningly beautiful, they are not something a homeowner should welcome.

Frost forms on windows when they are exposed to cold air on the outside, moist air on the inside. Moisture in the room’s air (water vapor) is drawn to the window pane, and when the outside surface temperature lowers past the dew point, the water vapor solidifies into liquid. That liquid then freezes into ice crystals, and you’ve got your frost.

Frost can cause damage. As it melts, it transfers moisture to whatever is next to it. If that’s a wooden window, it can discolor varnish and crack paint, or even damage the wood. Frost can also melt off single-paned windows and seep down into a wall. If moisture is not handled swiftly and completely, mold can begin to grow.

So, how can you prevent frost?

·         Weatherize your windows when it gets colder. Make sure storm windows are installed properly and caulk any gaps in the seals.

·         Run a dehumidifier. If you can keep the inside air drier, frost will be less likely to form.

·         Keep your home sufficiently warm, especially at night, to keep frost from forming. It might be worth putting a space heater in a room that is particularly prone to collecting frost on windows to see if that solves the problem.

·         If all else fails, you may choose to replace single-paned windows with double-paned windows. The barrier of dead air between the double panes helps to slow down the transfer of heat/cold.

Being a responsible homeowner means letting go of some romantic ideas about nature, like the beauty of frost on your windows in the morning. But don’t worry. If you’re really missing nature’s artwork, I’m sure you can find some on your windshield as you head out to work or the store!

zillow.com/blog | 1/13/14 | AUTHOR:BOBVILA.COM

Easy Bathroom Makeover Tips

Before you put your home up for sale, you want to make sure it looks as attractive and modern as possible. Buyers usually walk away from a home for sale with outdated color schemes and fixtures. This is especially true of bathrooms. Even if you lack the budget and space to turn your bathroom into a spa-like retreat, you can still give this room a quick facelift.

1. Get Creative With Color. If you don’t have the time or budget to replace dated ceramic tile, try camouflaging it with towels, rugs, and other accessories for a more modern color scheme. For example, you can pair pink with brown or bright blue with light green.

2. Replace Your Fixtures. Brushed aluminum and pewter bathroom fixtures are more modern than the shiny chrome fixtures from years ago. They are also easier to clean because they don’t show water marks as easily.

3. Find New Lighting. A bathroom light can do more than just illuminate the space; it can create an atmosphere. Sconces placed on either side of a mirror tend to look better than harsh overhead light. Track lighting can be arranged to provide light in dark corners of the room.

4. Accessorize. Put your personal touch on your bathroom with shower curtains, soap dispensers, and scented candles. Don’t feel like you have to stick to the bath accessories aisle, either. A clear vase can display bath salts. Baskets can hold rolled-up towels. A beautiful serving bowl can be filled with potpourri.

Preparing your home for sale is an important part of the process. I can help you prepare your home to sell faster and for more money. Call me today or email me at to schedule a free consultation.

RealtyBlogContent.com

What to Do Before, During, and After a Winter Storm

The National Weather Service calls winter storms “Deceptive Killers”. This is because most fatalities are indirectly related to the storm itself. Instead, people are severely injured in traffic accidents, or due to prolonged exposure to cold. As a homeowner, it’s important to be aware and concerned about the threat that harsh winter weather brings. Here are some tips on what to do before, during, and after a winter storm.

Before

·         Prepare an emergency kit for your home and/or vehicle that includes rock salt, sand to improve traction, snow shovels and other snow removal equipment, sufficient heating fuel, and adequate clothing and blankets to keep you warm.

·         Prepare a Family Communications plan. Know how you will contact one another, how you will get back together, and what you will do in case of an emergency.

·         Listen to the radio or check your sources online for the weather forecast, and limit travel during poor conditions. Also, shelter your animals as much as possible.

During

·         Stay indoors as much as possible and only drive if it’s absolutely necessary. If you do go outdoors, walk carefully on snowy and icy walkways.

·         Avoid overexertion when shoveling snow.

·         Keep dry and watch for any signs of frostbite or hypothermia.

·         If you do have to drive, let someone know your destination, route, and when you expect to arrive.

·         Maintain ventilation in your home when using kerosene heaters, and conserve fuel if necessary by keeping your residence cooler than normal.

After

·         Go to a designated public shelter if your home loses power or heat during periods of extreme cold. Text SHELTER + your ZIP code to 43362 (4FEMA) to find the nearest shelter in your area.

·         Continue to protect yourself from frostbite and hypothermia by wearing warm, loose-fitting, dry and lightweight clothing in several layers, and stay indoors if possible.

By nms | Published January 2, 2014 | www.gmgins.com/blog

Getting the Most Out of Your Remodel Dollars in 2014

As a serial remodeler, I'm looking forward to spending part of my winter holiday curled up on the sofa planning the wonderful things I'm going to do to my home in 2014. If you're also day-dreaming about your next home improvements, these ideas (plus some eye candy) from the experts at realtor.com can help you balance the impulsive and emotional (I must have purple countertops!) with the long-term value-adds (Buyers don't like my purple countertops!) of remodeling.

 Plus, if you're thinking of financing your project -- with equity or a refi -- we'll help you plan with the a housing market forecast.

Future-Proof Kitchen

I'm nearing the end of what turned out to be a nearly two-year long kitchen remodel, but if you're still in the contemplation stage, consider some of 2014's top kitchen remodeling trends care of property listing site realtor.com:

            •Modern design with white or gray cabinetry
            •Simple countertops
            •Minimalist designs
            •Appliances that blend into the cabinetry
            •Hammered, matte brass hardware

Several of these kitchen "trends" -- particularly white, minimalism, and simplicity -- are actually not trendy, but enduring. You'll find most of them on HouseLogic's definitive list of timeless kitchen features. They're the features you'll love now and in 10 years -- and that will be marketable when it's time to sell.

Flex Rooms

 The hordes of relatives visiting your house this year say they're staying just a little while, but chances are, one of them will want to move in with you at some point. Embrace the multigenerational trend, says realtor.com, by creating flex rooms.

Adding or converting a bedroom to include a sitting area and bathroom makes a lovely sanctuary for your guests now and a cozy space for your mother in her later years. Consider a separate entrance, too. When you get up there in age yourself, you can supplement your retirement income by renting out the space.

Paint Color

The official color of 2014 (according to the official arbiter of color, Pantone) is radiant orchid -- a souped-up lilac. Purple accent pillows for the sofa? Definitely yes. But radiant orchid as a dominant color in your house? Not so much.

"Be wary of any trend that has the potential for a short shelf life," realtor.com advises. Stick to neutral colors for anything in your home (inside and outside) that's not as easy to replace as a pillow.

Home Equity Rising

OK, now for the brass tacks part of remodeling: paying for it. A few real estate predictions for 2014 might help your sort out your options.

Experts predict home prices should rise in 2014, which means you could have the home equity you need to fund your next renovation. Areas where foreclosures are falling and buyer demand outstrips the number of homes on the market have the best chance of seeing rising prices.

Interest Rates Headed Up

You may have more home equity in 2014 than you did in 2013, but doing a cash-out refinance to pay for your remodel will be harder and more expensive to do in the year ahead due to rigid underwriting rules and rising interest rates. Lenders say loan files are now routinely hundreds of pages long, so lower your expectations about how fast and how easy it is to refinance. Don't let your frustration with the process wreck your enthusiasm for your remodeling dream.

And Now for that Eye Candy

Whenever you're remodeling, it's smart to make sure you don't over- or under-improve compared with neighbors' homes. So check out some of the home listings on realtor.com in your Zip code, many of which include interior pictures.

Once you've spied on the Joneses, check out these hilarious pictures of the wildest home features of 2013.

I won't even guess what installing a rowboat bathtub or cathedral-themed wine room would do to your home's resale value, but looking at them could sure amuse you on a long winter's night.

Article From HouseLogic.com | By: Dona DeZube | Published: December 20, 2013

A Genius Idea for Removing Snow From Your Driveaway

A Genius Idea for Removing Snow From Your Driveaway