millennials | 1st Time Home Buyer ATL

How to Create a Master Bedroom Retreat

Turn Your Bedroom Into a Sanctuary

Since we spend about a third of our lives sleeping, we should place high importance on the look and feel of the master bedroom. Follow these tips to transform one of the most important rooms of your home into a relaxing sanctuary.

What to Bring In

• Neutral Colors — Light, neutral hues like creams, taupes, grays, and blues provide a tranquil atmosphere. Use soft, coordinating colors for your bedding and walls.

• Soft Lighting — Overhead lighting can sometimes be harsh or too concentrated. Create a soothing mood with soft, balanced lighting throughout the room. Add lamps 1o brighten dark corners and illuminate each side of the bed.

• Window Treatments — A sense of privacy is essential to any sanctuary. Window treatments offer coverage from the outside world and can be a beautiful design element If outside lighting disrupts your sleep, consider blackout curtains.

What to Take Out

• Outdated Bedding — A relaxing bedroom begins with a comfortable bed. Most experts recommend replacing your mattress every eight years. Pillows should be replaced every two to three years or every six months if you have asthma or allergies.

• Excess Furniture — Get back to basics by paring down your bedroom to just the essentials. Most people require little more than a bed frame, a couple of matching nightstands and a dresser or chest of drawers. Anything more can quickly become clutter.

• Unnecessary Electronics — From more sleep to better family relationships, there are numerous benefits of having a technology-free bedroom. Reserve your master bedroom for rest and relaxation, and keep electronics out.

Makeover your master bedroom into a serene space you look forward to at the end of a long day. These tips can help you get started.

What if you want to keep the seller’s furniture?

When you buy a pre-owned home, do you know what will come with the house? Do you get to keep all the appliances, the art on the walls or the outdoor pizza oven on the patio?

Determining what will stay with the home and what will go with the previous owner will vary by seller and contract. Here’s how to determine what conveys with the home you’re considering, as well as tips to safeguard yourself when negotiating those extra items.

1. Check the listing. Start at square one and look at the original listing. Hopefully, the seller specified the items included in their home’s asking price.

2. Know the screwdriver rule. For the most part, if it takes a screwdriver to remove, it’s considered a part of the home. This includes shelves, light fixtures, and even curtain rods. But, if it’s hung on a nail, it’s removable and likely not included in the sale.

3. Negotiate with the seller. If there’s something you’re interested in that isn’t part of the listing, we can negotiate with the seller.

4. Talk to your lender. If the seller agrees to include big-ticket items, you’ll want to tell your mortgage lender. Depending on the type of loan you have, it could affect the appraisal or change the value of the property.

So, unless the seller specified the washer and dryer in the listing, you should assume they’re not included. As for the pizza oven? If it’s built into the patio, it’s probably already built into the listing price.

Have more questions about what’s included with a home? Get in touch today.

Is it time to replace your front door?

Your front door is one of the first things guests notice when visiting your home. In addition to providing security and protection, your front door can make a bold statement and reflect your personal style.

But whether or not your current front door matches your home’s interior and your taste, if you feel a draft, see any cracks or hear squeaky joints or scraping sounds, it may be time to replace it. Consider your options with some of the most common front door materials and features.

Materials

Wood: Though beautiful, solid wood doors are expensive and sensitive to the elements. Some modern wood doors come with steel cores to minimize warping and reduce cost.
Fiberglass: A durable and cost-effective option is a fiberglass composite door. Their foam cores are good insulators, and they can withstand harsh climates.
Steel: Strong but subject to dents, steel doors are the least expensive of the three. They have shorter lifespans and aren’t well-suited for extreme climates, but depending on their core, they can be energy efficient

Styles

There are multiple styles to choose from, including:

• Solid panel doors

• Arched doors

• Dutch or split doors

• Double doors

• Decorative doors with glass inserts

• Frosted glass doors with ornamental wrought iron overlaid for added security

You could even complement your front door with sidelights or a transom window while also letting in more outside light

Colors

The color of your front door should depend mostly on the exterior style and colors of your house, your personal taste and the type of door chosen. If your house is mostly neutral in color, don’t be afraid to go bold with your front door.

Use these tips to help make your front door an inviting entrance that not only offers protection from the elements but also reflects your personal style.

4 Tips for Competing With Cash Buyers

You can compete with all-cash offers. Here’s how.

In today’s hot market, bidding wars have become the norm. With many out-of-state buyers and property investors looking for a great deal, all-cash offers are also becoming common.

A cash offer can seem tempting for sellers since it offers the possibility of a faster closing. But despite this perk, cash buyers don’t always win. Many times, they make low offers or demand costly extras, both of which will mean lost cash for the seller.

Want to boost your chances of getting the home you want when competing with cash buyers? Here are some things to consider:

1. Include a preapproval letter. Get your financial documents in order, find a mortgage lender and get preapproved. Additionally, a note from your lender stating that you’re a well-qualified buyer can go a long way.

2. Work with a fast-moving lender. Average closing times vary significantly from lender to lender. Choosing one known for fast transactions shows sellers that you’re willing to move at their pace. Get in touch if you’d like a referral to a trusted lender.

3. Offer more earnest money or a bigger down payment. More money down means you’re serious about purchasing their home, which gives sellers more confidence in your offer.

4. Make an appropriate offer. We’ll discuss local comps to assess the home’s value, allowing you to make a solid bid right off the bat. Low offers are likely to be dismissed without a second glance.

Are you planning to purchase a new home soon? Get in touch today to discuss the right strategy for your home search.

Your GaPeach & YellowJacket Atlanta Realtor, Your referral is the greatest compliment.

Hire an Agent When Building a House

Many homebuyers think they don’t need to hire an agent when building a new home. After all, you’re buying directly from the builder and they already have contractors, lenders, and inspectors. Why should someone else be brought into the mix?

The truth is, buying any home without an agent can be a costly mistake. It can mean paying more than you should, missed opportunities for upgrades, contract errors that aren’t in your favor or a delayed closing.

Thinking of buying a new construction home? Here are three reasons to have an agent on your side before visiting the sales office:

1. Expert Negotiation: While their advertising would have you believe otherwise, builder’s prices aren’t always set in stone. Agents are skilled negotiators who can likely get the price dropped slightly or have a few upgrades thrown in.

2. Preferred Vendors: Your builder might have an affiliate mortgage lender or title company, but chances are they aren’t going to offer the best deal. It’s important to shop around, and what’s better than a vendor your agent already knows and trusts?

3. Guidance and Support: The homebuying process can be complicated, with lots of twists, turns, and steps along the way. When buying new construction, you also have design reviews, electrical work, and other construction needs. An agent can guide you through all of these, making sure your purchase stays on track, on time and on the budget from start to finish.

It’s important to note that while you may be working with an agent or representative from the builder, they may not have your best interests at heart. Enlisting your own trusted agent can give you an advocate from the very first meeting to closing day.

Are you interested in buying a new construction home? Get in touch today for more info about builders in the area.

Can you own your dream house with student debt?

Did you know you can buy your dream home while paying off student loan debt?

It’s true and even quite common. While student loans are factored into your debt-to-income ratio, they shouldn’t prevent you from becoming a homeowner.

And fortunately, there are many programs and options available to prospective buyers, some you may not be familiar with. Here are four ways people with student loans achieve their homeownership goals:

1. Co-buying With Friends or Family
Purchasing a home with a roommate, significant other or sibling allows you to combine multiple incomes to qualify for a better mortgage rate. This can help lower your monthly payment and make home maintenance more affordable.

2. Receiving Financial Gifts From Family
You can also accept gift money from your parents, grandparents or other family members to put toward your home purchase. Some loan programs have a cap on how much gift money can be used, so make sure you know the limits first.

3. Choosing Low (or No) Down Payment Loans
There are many low down payment options, including FHA, HomeReady and Home Possible loans. For loans with no down payment, VA loans may be available to veterans and military members as well as USDA loans for those purchasing in rural areas.

4. Using Assistance Programs
Down payment assistance programs can cover some or all of your down payment costs if you qualify. These programs vary by location, so talk with a lender to learn about potential options.

Working on your credit can also help you buy a home. Pay your credit card bills on time every month, aim to pay down your debts and never let an account go into collections. It also helps to get preapproved for a mortgage so you know how much you qualify for.

If you’re ready to make homeownership a reality or would like a referral to a trusted lender, get in touch today.

Should you skip the starter house?

Gone are the days when a three-bedroom, two-bath starter home was the norm for first-time homebuyers. Today, many buyers are skipping that stage altogether and going straight for their dream homes. They’re buying bigger, more expensive properties with upgraded features, and they plan to live there for the long haul.

Not sure which type of property you should look for? Here are a few things to consider:

Why are you buying?
Are you mainly looking for a way to lower your monthly living expenses, or do you want a place to raise your kids and put down roots? Do you want this to be your only purchase, or are you willing to go through the process again in a few years?

What’s your budget?
Can you buy your dream home with what you can currently afford, or would that stretch your budget too far? It’s crucial to consider how much you’ll need to save for a down payment and how large of a loan you can qualify for. Your credit score and the expected interest rate will also play a factor.

How long do you plan to stay?
Do you plan to be in the area for a long time or is there a chance you’ll need to move for your career, family or another reason down the line?

Is the market favorable?
What is the current housing inventory, and will you be competing with other buyers? Favorable market conditions mean you’ll get more house for your money, making it an ideal time to purchase a forever home.

Get in touch today if you’re ready to buy a new home. If you’re unsure about a starter home or forever home for your family, we can discuss what options are available to meet your needs and long-term goals.

Fixer-upper or move-in ready home?

Shows like HGTV’s “Fixer Upper” have popularized the idea of buying and renovating the worst house on the best block. Homes that need major remodeling, however, aren’t for everyone. Sometimes a move-in ready house is a better option. Whether you’re a first-time homebuyer or a seasoned investor, it’s important to understand the pros and cons of each.

Pros of Fixer-Uppers

Lower price – Homes that require some updating tend to be priced lower, and many renovations can quickly add value to your home.
Creative control – When you’re the one in charge of updating your home, you can customize it however you choose.

Cons of Fixer-Uppers

Delayed move-in – The planning and work involved to fix it up can significantly delay your move-in date.
Unexpected costs – No matter how well you plan, major renovations are always subject to unforeseen expenses.

Pros of Move-In Ready

Quick move-in – Can’t wait to begin nesting? With a finished home, you can start moving in as soon as you get your keys.

Energy-efficient technology – New and renovated homes are often outfitted with the latest energy-efficient options when it comes to kitchen appliances and heating and cooling systems, which can save your money over time.

Cons of Move-In Ready

More expensive – To recoup the costs of updating, sellers often price move-in ready homes much higher. These homes also don’t allow for easy customization.
Questionable quality – When you’re not there to oversee the update process, you’re unable to ensure that high-quality work and materials are used for your home.

2018 Real Estate Market Forecast

2017 was certainly an interesting year! We had more buyers, and looser mortgage guidelines, qualifying more people for a home loan. We still maintained incredibly low interest rates with noisy politics and uncertainty contributing a great deal to that. As supply and demand would have it, we saw an increase in demand for home ownership but a shortage of supply as low inventory was the only thing holding the housing market back from a sure explosion. That led to home values increasing and a shift from a buyers- market; to a sellers- market.

So here we are its 2018 and we are seeing incredible economic growth. The Dow Jones Industrial average is soaring to record levels, unemployment rates are at a 17-year low and job growth predictions are all leading to signs of a very healthy America in 2018; from an economic perspective.

So what does all of this mean to you? Well it’s always important to know what is going on in the real estate market because if you are a home owner, you should always know the current market value of your home. If you are considering selling, you of course want to know how much cash you can get out of your sale. And if you’re looking to own a home, you want to know what the interest rates are, what they are projecting to be and what the inventory situation looks like to make better, more informed decision.

It’s expected that historically low interest rates, still baffling to even the most seasoned analysts, will gradually rise to an average of 4.5% percent over the next 12 months. Inventory is expected to increase, but moderately; making 2018 thus far, a sellers- market.

“This will be the first of many years to come in which it’s all about the millennial first-time homebuyer,” said Mark Flemming, chief economist at First American Financial Corp, a title insurance company. “ Find ways to appeal to those buyers, and it’s likely to be a successful year.”

Millennials, first time home buyers and self-employed individuals finally have access to options they really didn’t have after the mortgage meltdown. Let’s face it, most rentals today aren’t as desirable and they are more expensive as sellers of nicer properties have opted to “cash out” and sell once the market recovered. What I have recommended to interested buyers in our community is define where you are at financially and what your credit score is; then learn what products exist today that will get you qualified. For my sellers or potential sellers, get a free market analysis and know the market value of your home; you might be pleasantly surprised.

Mortgage Interest Rate Prediction for remainder of 2017

Inflation is a key indicator for where mortgage rates are headed. In simple terms, when prices of goods and services go up, investors of mortgage backed securities lose return. That is why when prices rise, so too do interest rates. The last report on inflation saw a slight drop; from 1.8% to 1.4% from January to May. With three jumps in interest rates this year, many projected a steady increase, but recently mortgage rates dropped slightly. While I’m not a prognosticator of interest rates, all signs from here to about December 2017 look like they will remain very low, perhaps even a slight decrease. That is good news for borrowers; especially the huge number of millennials that are taking advantage of low down payment mortgages and looser credit guidelines.

Inventory is getting better. After three consecutive months, pending home sales reversed course in June in all major regions of the United States with the exception of the Midwest. Almost all regions saw an increase in contract activity according to the National Association of Realtors®.

How about some more good news? As I’m writing this blog the Dow Jones Industrial average hit a record high, approaching the 22,000 mark; powered largely by Goldman Sachs, JP Morgan Chase and a few others.

The economy certainly is showing signs of legitimate growth built on the right foundation. Unemployment numbers SHOULD be next to improve and if and when that happens, we should see a solid run of economic prosperity.

If you are considering a real estate purchase or are considering getting a mortgage, now is a very good time to act. You have to simply balance the prices of real estate and interest; but when you look at an amortization schedule you quickly place the value of low interest rates over slightly higher real estate prices. Please let me know if I can help you in any way or if you simply have any questions you need answers to.

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