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DIY Gallery Wall

Thinking about adding a gallery wall? Here’s a step by step process to make it easy!

Start With Art

If you’re goin

g for a modern look, choose a color palette and find art that fits within that. You can also try pieces that are from one collection, or ones that have a similar theme. If you want to make it appear like more of a long-time collection, use new and vintage prints and paintings.

Keep It Cohesive

If your images are going to vary, try to keep your frame choices cohesive – at the least, get them all in the same color. You will want any mat-boards to be the same color as well.

Make A Plan

Before adding any nails, lay your pieces out on the floor. Take a photo of your final arrangement so that you will know what you want it to look like up on the wall. You can also use painter’s tape to create outlines on your wall so you can imagine what the pieces will look like once they are up.

Use A Level

Making sure that first piece is hung correctly is one of the most important steps. If your reference point is crooked or slanted, the whole gallery can be thrown off.

Maintain Uniform Spacing

While the idea of a gallery wall isn’t necessarily to be perfectly organized, you don’t want it to appear messy. Leave the same amount of spacing between your pieces so the wall doesn’t appear haphazardly thrown together.

Use Measuring Tricks

Painter’s tape can be used in this step to mark off the amount of space you want between the frames. The tape will double as spacers between items as you hang the collection. Trying to use a measuring tape while hanging items can become frustrating, especially in small spaces.

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What It Means To Be in a Sellers’ Market

 

If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.

The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.

Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):What It Means To Be in a Sellers’ Market | MyKCMWhen the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers.

As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers.

Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house.

Bottom Line

Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it.

Let The Wheaton/Wass Real Estate Team help, call today: 719.822.1444

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HOW TO BLEACH YOUR HARDWOOD

If you want to lighten the color of wood in your home, bleaching may be the cheapest route. You may want to lighten your floor to prepare it for a special finish, or maybe they have just become discolored with age or spills/stains. The first step in this process is to find what type of bleach will work best for you.

The bleach you will need will depend on the source of the color you are trying to remove. There are three types of bleach you can use on wood: chlorine bleach, peroxide bleaches, and oxalic acid. The hardest part of bleaching your floors is finding out what created the current stain to be able to choose which bleach is appropriate. Chlorine bleach will remove dyes and many stains such as tea, blood, and juices. Household bleach is the mildest form and can take several treatments to see results. Swimming pool chlorine, or calcium hypochlorite can be used for a stronger chlorine-based bleach treatment. Two-part bleach is the only choice for altering actual wood color. Stains that do not respond to either chlorine bleaches will typically disappear when treated with two-part bleaches. Oxalic acid is your best choice to battle iron and rust stains. It can remove water stains and some black inks if they are iron-based. You can find oxalic acid in a crystal form. Any bleach will deteriorate the wood, and those chemically weakened wood fibers can be more susceptible to wear and tear.

Once you’ve found your bleach choice, it is time to start! You will need to strip, bleach and neutralize your hardwood floor. Start by removing whatever is the existing finish. You can use lacquer thinner to dissolve lacquer finishes or denatured alcohol to remove shellac. Paint-and-varnish remover will work on most other finishes. Follow your finish remover with sandpaper to lightly smooth the surface.

Mix a solution of washing soda, found in the laundry aisle of most big stores, with hot water in a small bucket following the package instructions. Use the solution to wash over the now-stripped wood and let air-dry.

Next, you will prepare the bleach you have chosen. Chlorine bleach can be mixed with hot water until saturated. For oxalic acid, use 1 quart of hot water to dissolve about 4 ounces of oxalic acid crystals.. For two-part bleaches, simply follow the product instructions.

Use a synthetic-bristled brush to apply your bleach solution. Natural bristles can dissolve and metal materials can create a chemical reaction with the bleach. Carefully spread an even layer of bleach across the wood and place a paper towel over top to keep it from drying too fast. After 20 to 30 minutes, test the wood color. When the color matches your goal, you can blot up any remaining bleach. Rinse the area with distilled water to rinse away any remaining bleach. You will also need to neutralize the bleached area to completely stop the bleaching action. You can use a blend of half hot water and half white vinegar or a mix of 2 tablespoons of baking soda dissolved per quart of hot water.

Leave your wood to air-dry at least one full day. Sand down any rough areas created by the bleaching. You can coat the wood with a light coat of lacquer to help stiffen the wood and help the sanding. You can now refinish the area as desired. If he stain or color does not lift, you can try successive bleach treatments.

If bleaching is too much for you to take on call today, we have wonderful floor vendors that can step in to help: 719.822.1444

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Millennials: Is It Time to Buy a Bigger Home?

Millennials: Is It Time to Buy a Bigger Home? | MyKCM

In today’s housing market, all eyes are on millennials. Not only are millennials the largest generation, but they’re also currently between 25 and 40 years old. These are often considered prime homebuying years when many people begin to form their own households and invest in real estate. If you’re like many millennials who are spending much more time at home these days, you may have a growing need for more space or upgraded features, making moving more desirable than ever.

For those millennials who already own a home, there’s a great opportunity to move up in 2021. Danielle Hale, Chief Economist at realtor.comexplains:

“Older millennials will be trade-up buyers with many having owned their first homes long enough to see substantial equity gains.”

Even if you bought a home sometime in the last few years, you may have more equity than you realize, and that’s a big factor to consider when you’re thinking about moving. According to the Homeowner Equity Insights Report from CoreLogic:

“In the third quarter of 2020, the average homeowner gained approximately $17,000 in equity during the past year. This marks the largest average equity gain since the first quarter of 2014.”

Growing equity can be the driver you’re looking for to fund your next move, especially if what you need in a home is changing right now. As equity builds over time, it can be put toward the down payment on your next home.

In addition to equity gains, today’s housing market affordability is powered by record-low mortgage rates, so moving at a time when you can get more for your money may be more realistic than you think.

Bottom Line

If you’re a millennial thinking about moving this year, you’re not alone. Let’s connect to shed light on the equity you have in your current home and the opportunities it can create.

The Wheaton/Wass Real Estate Team

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How to Make a Winning Offer on a Home

How to Make a Winning Offer on a Home | MyKCM

Today’s homebuyers are faced with a strong sellers’ market, which means there are a lot of active buyers competing for a relatively low number of available homes. As a result, it’s essential to understand how to make a confident and competitive offer on your dream home. Here are five tips for success in this critical stage of the homebuying process.

1. Listen to Your Real Estate Advisor

An article from Freddie Mac gives direction on making an offer on a home. From the start, it emphasizes how trusted professionals can help you stay focused on the most important things, especially at times when this process can get emotional for buyers:

“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”

A real estate professional should be the expert guide you lean on for advice when you’re ready to make an offer.

2. Understand Your Finances

Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. Doing so make it clear to sellers you’re a serious and qualified buyer, and it can give you a competitive edge in a bidding war.

3. Be Prepared to Move Quickly

According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), the average property sold today receives 3.7 offers and is on the market for just 21 days. These are both results of today’s competitive market, showing how important it is to stay agile and alert in your search. As soon as you find the right home for your needs, be prepared to submit an offer as quickly as possible.

4. Make a Fair Offer

It’s only natural to want the best deal you can get on a home. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t make an offer that will be tossed out as soon as it’s received. The expertise your agent brings to this part of the process will help you stay competitive:

“Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”

5. Stay Flexible in Negotiations

After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. You can strengthen your position with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). Freddie Mac explains that there are, however, certain contingencies you don’t want to forego:

Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

Today’s competitive market makes it more important than ever to make a strong offer on a home. Let’s connect to make sure you rise to the top along the way.

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How Smart Is It to Buy a Home Today?

How Smart Is It to Buy a Home Today? | MyKCM

Whether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated. You may have to take personal or professional considerations into account, and only you can judge what impact those factors should have on your desire to move.

However, there’s one category that provides a simple answer. When deciding to buy now or wait until next year, the financial aspect of the purchase is easy to evaluate. You just need to ask yourself two questions:

  1. Do I think home values will be higher a year from now?
  2. Do I think mortgage rates will be higher a year from now?

From a purely financial standpoint, if the answer is ‘yes’ to either question, you should strongly consider buying now. If the answer to both questions is ‘yes,’ you should definitely buy now.

Nobody can guarantee what home values or mortgage rates will be by the end of this year. The experts, however, seem certain the answer to both questions above is a resounding ‘yes.’ Mortgage rates are expected to rise and home values are expected to appreciate rather nicely.

What does this mean to you?

Let’s look at how waiting would impact your financial situation. Here are the assumptions made for this example:

  • The experts are right – mortgage rates will be 3.18% at the end of the year
  • The experts are right – home values will appreciate by 5.9%
  • You want to buy a home valued at $350,000 today
  • You decide on a 10% down payment

How Smart Is It to Buy a Home Today? | MyKCMHere’s the financial impact of waiting:

  • You pay an extra $20,650 for the house
  • You need an additional $2,065 for a down payment
  • You pay an extra $116/month in your mortgage payment ($1,392 additional per year)
  • You don’t gain the $20,650 increase in wealth through equity build-up

Bottom Line

There are many things to consider when buying a home. However, from a purely financial aspect, if you find a home that meets your needs, buying now makes much more sense than buying next year.

We can help, call today: 719.822.1444

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Preventing Household Germs

Where germs live and how to stop them in their tracks

Let’s face it, germs are everywhere. While many microorganisms are harmless or even helpful, there are a vast array of others that can make us very sick. To help you identify where these little guys live and help you prevent their ill effects, we’ve prepared this handy infographic full of germs. Full of germ info, that is.

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The Luxury Market Is Attracting Buyers in 2021

As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares:

“In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic, the luxury real estate market has seen one of its strongest years since 2008. In comparison to experts’ predictions in early 2020, it is remarkable how significant demands for property type, location, and amenity preferences have changed amid the pandemic.”

With more opportunities to work from home and a growing interest in having extra space for things like virtual school, working out, and cooking more meals, the desire to own a home that can meet these needs continues to increase. Additionally, record-low mortgage rates are creating opportunities for homebuyers to stretch their legs into higher price points or even expand their real estate portfolios. The ILHM report continues to say:

Experts believe that the demand for exclusive residential properties outside the metropolitan areas will continue well into 2021; even with the introduction of vaccines, the pandemic is far from over.

For those who have moved to the suburbs and beyond, moving back to the city full time is unlikely while the work from home trend remains. Many of these affluent homeowners are now making their secondary properties their primary residences for the foreseeable future.”

If you’re interested in buying a home this year, it appears that some higher-priced markets may have more homes to choose from than those at lower price points. Javier Vivas, Director of Economic Research at realtor.comnotes:

“Interestingly, markets, where new supply is improving the fastest, tend to be higher priced than those that have yet to see improvement, suggesting sellers are more active in the more expensive markets.”

Bottom Line

If you’re hoping to buy the home of your dreams, this could be the year to achieve that goal. Let’s connect today to explore your possibilities.

Call now and let The Wheaton/Wass Real Estate Team help you in the Luxury Home Market: 719.822.1444

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Thinking about Building a New Home? Your Agent Is Critical.

Thinking about Building a New Home? Your Agent Is Critical. [INFOGRAPHIC] | MyKCM

Some Highlights

  • A real estate professional is an expert who can advocate on your behalf throughout the process when building a home.
  • Agents help you understand key steps, like choosing upgrades and managing negotiations, while staying within your budget from start to finish.
  • If building is the right option for you, let’s connect so you have a trusted real estate professional who can help you successfully navigate the path to your dream home.
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Want to Build Wealth? Buy a Home This Year.

Want to Build Wealth? Buy a Home This Year.

Want to Build Wealth? Buy a Home This Year. | MyKCM

Every year, households across the country make the decision to rent for another year or take the leap into homeownership. They look at their earnings and savings and then decide what makes the most financial sense. That equation will most likely take into consideration monthly housing costs, tax advantages, and other incremental expenses. Using these measurements, recent studies show that it’s still more affordable to own than rent in most of the country.

There is, however, another financial advantage to owning a home that’s often forgotten in the analysis – the wealth built through equity when you own a home.

Odeta Kushi, Deputy Chief Economist for First American, discusses this point in a recent blog post. She explains:

“Once you include the equity benefit of price appreciation, owning made more financial sense than renting in 48 out of the 50 top markets, with the only exceptions being San Francisco and San Jose, Calif.”

What has this equity piece meant to homeowners in the past?

ATTOM Data Solutions, the curator of one of the nation’s premier property databases, just analyzed the typical home-price gain owners nationwide enjoyed when they sold their homes. Here’s a breakdown of their findings:Want to Build Wealth? Buy a Home This Year. | MyKCMThe typical gain in the sale of the home (equity) has increased significantly over the last five years.

CoreLogic, another property data curator, also weighed in on the subject. According to their latest Homeowner Equity Insights Report, the average homeowner gained $17,000 in equity in just the last year alone.

What does the future look like for homeowners when it comes to equity?

Here are the seven major home price appreciation forecasts for 2021:Want to Build Wealth? Buy a Home This Year. | MyKCMThe National Association of Realtors (NAR) just reported that today, the median-priced home in the country sells for $309,800. If homes appreciate by 5% this year (the average of the forecasts), the homeowner will increase their wealth by $15,490 in 2021 through increased equity.

Bottom Line

As you make your plans for the coming year, be sure to consider the equity benefits of home price appreciation as you weigh the financial advantages of buying over renting. When you do, you may find this is the perfect time to jump into homeownership.

Let us at The Wheaton/Wass Real Estate Team help you in your search.

Call today: 719.822.1444