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Spring 2022 House Talk Newsletter
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How's the Market?
Confused about the current state of the real estate market? You're not alone. Let's dive into understanding the conflicting headlines and get a clear picture.
The market has cooled off slightly compared to earlier in the year, but it's still historically strong. For example, the percentage of homes on the market with price reductions is lower than any comparable period other than 2020. Additionally, most homeowners have positive equity in their homes, with existing home prices showing a consistent increase.
Graph showing home price forecast
While housing demand continues to outpace supply, there are some cautionary signs on the horizon. The Federal Reserve is projected to raise interest rates and cut monthly mortgage-backed security purchases in 2022. These actions will likely lead to higher mortgage rates, potentially impacting home sales and price growth. If you have clients who are on the fence about selling, now may be the time to encourage them to make a move.
Essential vs. Cosmetic Updates
When it comes to maintaining and increasing the value of your home, it's important to differentiate between essential and cosmetic updates. Essentials include items that ensure your home's safety and longevity, such as the roof, HVAC system, and hot water heater. On the other hand, cosmetics are the elements that add personality and make your house feel like a home, like fresh paint, appliances, and lighting fixtures.
Take a moment to assess the age and condition of your home's essentials and cosmetics using the following checklist:
Essentials:
- Roof
- HVAC system
- Hot water heater
- Exterior siding
- Plumbing leaks
Cosmetic:
- Functioning appliances
- Operational ceiling fans and lighting fixtures
- Fresh paint or wallpaper
- Sturdy bathroom cabinets
- Intact blinds or curtains
Addressing minor repairs now can help you avoid major expenses and inconveniences in the future. If you're uncertain about the current value of your home or need guidance on prioritizing updates, don't hesitate to reach out to us for a walk-through. Having a second opinion can provide valuable insights.
The Green, Green Grass of Home
A beautiful, lush lawn is the cornerstone of any home landscaping project. However, without proper care, it can become overrun with unsightly weeds. Don't fret! We have some tips to help you maintain a healthy lawn and keep those pesky weeds at bay.
First and foremost, implementing a regular schedule of thatching and aeration can work wonders for your lawn's overall health. Additionally, experts recommend mowing your lawn to a uniform height of at least 3 inches to shade out weed growth. Watering infrequently but deeply and using a high-quality controlled-release nitrogen fertilizer can further support your lawn's growth while minimizing weed infestation.
In the event that weeds do crop up, hand-weeding is often the most effective method, especially when dealing with young annual broadleaf weeds. Once you've removed the weed, promptly reseed the bare spot to prevent new weeds from taking hold. Various household items like cornmeal, vinegar, and soapy water can also be used as natural weed killers.
While herbicides should be a last resort, there are specific products available that target weeds without harming grass. Spot-treating isolated weeds or weedy patches can help minimize environmental impact. Remember to protect yourself by wearing appropriate clothing and safety gear during the application.
By adopting good lawn care habits, you'll be rewarded with a beautiful, weed-free lawn that becomes the envy of the neighborhood.
While You're Away, More Than the Mice Play
With summer vacations in full swing, it's essential to take precautions to protect your home from potential burglaries. Did you know that over 2 million burglaries are reported in the U.S. each year? Don't let your home become a statistic.
Investing in a professionally installed home security system with monitoring can significantly reduce the likelihood of your home being targeted. While high-tech options like facial recognition locks may be cost-prohibitive, there are affordable actions you can take to enhance security.
First, make sure to change the locks when you move into a new home. It's always better to be safe than sorry. Additionally, ensure that all windows have secure locks and consider using a locking bar on sliding doors for added protection. Don't forget to close and lock all garage doors when not in use and avoid hiding spare keys outside.
Improving the visibility around your home can also act as a deterrent to potential burglars. Trim any vegetation that could provide hiding spots and install exterior lights, including motion-detecting lights. By illuminating areas where shadows fall, you create a more secure environment.
Lastly, it's important to minimize losses by securing your valuable belongings. Consider organizing a "test burglary" with a trusted friend to identify any vulnerable areas in your home. Lock away valuable items in a designated hiding place, safe, or even an off-site security deposit box. Keep a record of serial numbers and descriptions of valuable items for identification purposes.
Maintaining good communication with your neighbors and participating in a Neighborhood Watch program can also contribute to a safer community. By reporting suspicious activity or crimes immediately to the authorities, you play a vital role in maintaining a secure neighborhood.
Seller's Side: Helping Buyers Beat the Heat
As the temperature rises, it's important to make your home as appealing as possible to potential buyers. By incorporating a few simple strategies, you can create a cool and refreshing atmosphere that will entice buyers and potentially lead to more offers.
A couple of hours before a showing or an open house, lower the thermostat a few degrees to create a refreshing environment. Additionally, ensure that ceiling fans are set to a low to medium speed to improve air circulation and create a comfortable atmosphere.
Rather than baking cookies in the oven, which can heat up the kitchen, offer a pitcher of lemonade or iced tea with disposable cups. This small gesture allows buyers to enjoy a refreshing drink as they explore your home and envision themselves relaxing on warm summer days.
If you're planning to repaint any rooms before listing your home, consider using cool tones like blues and greens. These colors create a calming and soothing effect, making spaces feel cooler and more inviting. Additionally, incorporate water features into your outdoor spaces to add to the overall cool and serene ambiance.
Buyer's Back: Summer Home Buying
The summer housing market can be just as competitive for buyers as the spring market. In a competitive market, it's crucial to remain flexible and open to different options. Consider exploring fixer-uppers, even if you initially envisioned a move-in-ready dream home. There are more fixer-uppers available now, offering potential opportunities for customization and investment.
Don't be quick to dismiss listings that have been on the market for a week or longer. In busy markets, older listings can sometimes be overlooked, leading to potential price decreases. Take advantage of these situations and keep an open mind when exploring a property.
Springtime Refresher
As the seasons change, it's essential to adapt your home maintenance routine to keep your property in top shape. Here are a few simple tasks to consider:
Update Your House:
- Schedule an HVAC inspection for optimal efficiency and lifespan.
- Clean out the gutters to ensure proper water flow during spring showers.
- Enhance curb appeal with spring plantings and trim any broken branches.
Update Your Office:
- Choose a fresh paint color for your home office.
- Select new curtains or blinds to enhance your workspace.
- Declutter and organize your bookcases, shelves, or tables with stylish organizers.
Remember, small updates and regular maintenance can go a long way in preserving your home's value. If you need assistance or more detailed information about your home's current value, don't hesitate to reach out to us. We're here to help!
Pro-tip: Professional Newsletters Ready to Ship
If you're ready to automate your monthly or quarterly newsletters, we have you covered. Our House Talk newsletter series offers fresh content designed to engage your audience. Reaching your farm has never been easier, and your clients will appreciate the timely market information and springtime maintenance ideas.
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Our customer service team is always here to assist you. Give us a call at +(866) 777-3986 from Monday to Friday, 8 AM to 5 PM PST, or email us at [email protected]. We're ready to come to the rescue!
Remember, by leveraging free spring newsletter content and implementing effective marketing strategies, you can elevate your real estate business and stay ahead of the competition. Happy farming!
