Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Feb. 17, 2020

The Home Buying Process Roadmap

Albers Home Buying Process Roadmap

Posted in Advice, Services
Feb. 14, 2020

Sell Your Home Fast with These Doable Tips

Sell Your Home Fast with These Doable Tips

Even when the housing market is being friendly to sellers, selling a home is no easy task. It requires significant amounts of time, effort and, sometimes, money. With that said, it feels really good when you make the sale for the price you want, especially when it doesn’t take three years to make it. If you’re getting ready to sell your home, these tips will help you appeal to buyers and quickly make a sale you’re happy with.

 

Declutter Like You’ve Never Decluttered Before

The first step of getting your home ready to sell is decluttering. And we’re talking about some serious decluttering — not just tidying up the entranceway and kitchen counters. When you’re selling a home, potential buyers will look over every nook and cranny of the home. You want it to be practically spotless and for each space to serve a purpose.

Try to envision what you want each space to look like; then, tackle the space that you deem most urgent. From there, go room by room, focusing on one item at a time. If you get overwhelmed by the prospect of decluttering your entire home, break it into smaller sessions, such as completing a closet or corner of a room.

While you’re in the decluttering process, don’t bring in any additional items. It’s important to focus on selling, donating, trashing, or storing the items you don’t need in the home — not replacing them with new items. That way, you can keep your property as a clutter-free, blank slate for staging your home. It can also help to schedule your decluttering sessions on your calendar just as you would work or school.

There will likely be a number of items that you want to keep but that you need to get out of the current home. In this case, consider renting a self-storage unit until you get moved into your new home. Look online to find the nearest and least-expensive options in your area; right now, the average self-storage unit in Springfield costs $56.40 per month.

 

Make essential repairs.

It’s critical to make sure the home you’re trying to sell is in working order. For instance, all the kitchen appliances, sinks, faucets, bathtubs, and showers should be working well. Also, make sure the HVAC system, water heater, electrical wiring, and other essential functions of the home are in good condition. Moreover, look for any minor repairs you can make, such as patching and/or repainting walls and ceilings and repairing/cleaning damaged flooring. If painting is outside your wheelhouse, then you may need to call in some professionals to tackle this task. Make sure you have room in your budget; the national average price to hire a house painter is around $1,750, though this number will fluctuate depending on where you live.

 

Don’t Forget the Outside

Curb appeal is also a big deal when it comes to selling a home. So, make sure your lawn and gardens are in good shape and look for other ways to boost appeal. For example, replacing the house numbers and mailbox, painting the front door, repairing any damaged siding, and hanging window boxes can go a long way in making the home more attractive to buyers.

Another way to enhance your home’s appeal is to put in a concrete patio. While it might turn out to be a significant investment, a patio can help get your home off the market faster. Depending on the grade and patterns you choose for stamped concrete, you can expect to pay about $108 per cubic yard and $8 to $18 per square foot to have it poured. All and all, putting in a concrete patio typically costs between $1,565 and $6,799.

There are doable ways to help your home sell faster without compromising the profitability of the sale. Start by thoroughly decluttering each space and keeping them tidy throughout the process. Make sure appliances and other essential functions are in working order, and look for any minor repairs that need to be completed. Finally, consider any ways that you can give the home’s curb appeal a boost. In no time, you’ll be impressing prospective buyers left and right!

Image via Unsplash

 

Posted in Advice
Nov. 12, 2019

Here’s The Most Popular Home Style in America According to Google

Posted in Market Updates
Nov. 6, 2019

Rents Up 36% Since 2005—Mortgage Payments Down 4%

Posted in Market Updates
Nov. 1, 2019

Thanks To Remote Work The Demand For Home Offices Is On The Rise

Thanks-To-Remote-Work-The-Demand-For-Home-Offices-Is-On-The-Rise

More people than ever are working from home. According to the US Bureau of Labor Statistics, 24 percent of employed people in the US work from home at least part of the time—and that number jumps to 42% of workers with advanced degrees. And as more people make the shift towards working from home, the demand for home offices is on the rise.

According to a recent article in The New York Times, home offices are quickly becoming one of the most requested features for potential buyers. “The importance of home offices has almost begun to rival the attention that buyers give to kitchens,” says Robin Kencel, an associate broker with Compass in Greenwich, Conn., in the NYT article. And as working from home becomes more common, that demand only stands to increase.

The Takeaway:

What does that mean for you? If you telecommute, having a functional workspace in your home is important. Work with your real estate agent to find a property that has a room or separate space you can use as an office so that your home works for you and your career.

Posted in Market Updates
July 8, 2019

Inside 417 Real Estate Episode 3

July 8, 2019

Inside 417 Real Estate Episode 2

May 21, 2019

Inside 417 Real Estate Episode 1

Jan. 21, 2019

First-Time Buyer Interest Strong Despite Rising Interest Rates

Interest rates are rising. According to Freddie Mac the current rate for a 30-yr fixed mortgage is 4.81%, which is up a nearly a full percentage point from a year ago. While some were concerned the rising interest rates would have a negative impact on the market, particularly with first-time homebuyers, it looks as if the changes in interest rates are doing little to dampen buyer demand. According to First American’s most recent Real Estate Sentiment Index (which explores how sensitive first-time homebuyers are to rising interest rates), mortgage rates would have to hit 5.6% before first-time buyers delay entering the market. And because mortgage rates aren’t predicted to rise that drastically anytime soon, we shouldn’t see any negative impact on buyer interest in the coming months.

The Takeaway

If you’ve been hesitant to list your home thanks to fears that rising interest rates will limit the number of buyers, there’s nothing to worry about. Buyer demand is showing no signs of slowing.

Posted in Market Updates
Jan. 18, 2019

Vast Majority of Millennials Looking Towards Homeownership

If you follow pop culture news, you'd think that all millennials are concerned about is SnapChat and avocado toast. But according to a recent report, there's something much more important on millennials' minds these days—and that's buying a home. According to the 2018 Home Buyer Report from NerdWallet, a whopping 82% of millennials say buying a home is a priority, significantly higher than older generations (which came in at 75% for Gen Xers and only 69% for Baby Boomers). And the reason? 64% say they want to buy a home because it's a good investment—an even better investment than padding their retirement accounts. 56% of millennials surveyed agree with the statement "I would rather have a home I own appreciate in value than have more money in retirement savings".

The Takeaway

If you're a millennial who's looking to purchase a home, you're not alone. And with still-competitive interest rates and new inventory set to flood the market later this year (which will drive down prices), there's never been a better time to start your home search.

Posted in Market Updates