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25 Cheap Ways To Upgrade Your Home

1. Add some character and add texture to your walls with peel-and-stick wall panels.

2. Create a charming accent wall with peel-and-stick paper.

3. Upgrade your countertops to faux granite with a DIY paint kit instead of spending a fortune to replace it.

4. Reseal all those cracks in your tub and tile with caulking and make your bathroom look new again.

5. Update recess lighting without doing any electrical work with magnetic shades.

6. Install crown molding to help make your home look historic and charming.

7. Adding a fresh coat of paint to get that pop of color (or get rid of it) will give your home a touch-up without costing you a fortune.

8. Get the stainless-steel appliances you’ve always wanted at a fraction of the price with paint.

9. Add privacy and a touch of elegance, and make your windows look super expensive, with with “leaded-glass” film.

10. Paint your cabinets to give your kitchen that just-remodeled feeling for pennies versus what it would cost to replace them.

11. Add a new tile backsplash to give your kitchen (or bathroom) that gorgeous custom look.

12. Add a medallion to your light fixtures to instantly elevate your ceiling game.

13. Paint your ugly vinyl floors to get rid of the eyesore without ripping up the floor.

14. Bulk up your baseboards with paint and extra trim instead of replacing them.

15. Install shelving systems in every room to add storage.

16. Upgrade the fixtures in your bathroom to give yourself a mini spa experience.

17. Swap the handles on your cabinets and drawers to update your kitchen.

18. Add a doorbell to your home if you don’t already have one, or upgrade your current one.

19. Update light switches to give your home a fresh look and a tech upgrade.

20. Add some curb appeal and a pop of color by painting your front door.

21. Forget interior designers! Find matching fabrics, paints, and materials with a color match tool.

22. Get even more curb appeal by sanding down and painting rusted railings.

23. Consider these useful tips for upgrading your bathroom.

24. Cover door scuffs and prevent new damage with a metal kick plate.

25. Add adhesive mirrored tiles to the underside or top of your cabinets to subtly reflect light and make your space look brighter.

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How Homeowners Are Ditching The Tub

Homeowners are looking for large, high-tech bathrooms with sleek color palettes and finishes, according to the Houzz 2017 Bathroom Trends Report.

On average, homeowners spent $21,000 to remodel bathrooms exceeding 100 square feet. That cost drops to about $12,300 for homeowners with smaller bathrooms that are less than 100 square feet. When it comes to age demographics, those aged 55+ spent the most on remodeling their bathroom since the majority of them reported that they don’t plan to sell their home anytime soon.

Meanwhile, millennials, who see their home as a short- to medium-term residence, are choosing to invest less in bathroom renovations. Out of the 4 percent of millennials who renovated their bathrooms this year, most spent $9,200 to 12,500.

Homeowners of all ages were willing to shell out the extra dough for showers (42 percent), cabinets and vanities (40 percent), faucets (35 percent) and countertops (35 percent). On the other hand, it seems that homeowners weren’t so willing to spend extra money on an upgraded toilet.

Beyond updating showers, toilets and faucets, 90 percent of homeowners decided to change the entire style and color scheme of their bathroom during renovations. Contemporary is the most popular style at 25%, followed by transitional and modern. Contemporary is most popular among baby boomers, while Gen-Xers and millennials favor modern styles with clean finishes.

When it comes to wall colors and cabinet, countertop and floor finishes, homeowners of all ages favor a white and gray palette over neutral or more colorful options. Although baby boomers and Gen-Xers are more partial to using wood grain and darker tones, Houzz says paying attention to millennial design preferences is important, especially since they’ll be leading the housing market for the foreseeable future.

Beyond design and decor, homeowners (27 percent) swapped out bathtubs for large showers, and 73 percent of homeowners chose to add high-end features such as rainfall shower heads (55 percent), dual showers (24 percent), curbless showers (21 percent) and body sprays (18 percent). Also, 29 percent of homeowners purchased a high-tech toilet — a 19 percent year-over-year increase.

The most coveted features among toilet techies were self-cleaning (12 percent), optional bidet (8 percent), overflow protection (8 percent) and motion activation (6 percent). The least important features were a self-deodorizer (4 percent) and hands-free flushing (3 percent). Baby boomers also looked for increased accessibility with comfort-height toilets (68 percent).

Previous studies have shown that bathroom renovations yield some of the highest ROIs. It showed that blue and periwinkle bathrooms sell for an average of $5,400 more and that buyers tend to favor homes with clean, neutral colors.

“Color can be a powerful tool for attracting buyers to a home, especially in listing photos and videos,” said Zillow chief economist Svenja Gudell. “Painting walls in fresh, natural-looking colors, particularly in shades of blue and pale gray not only make a home feel larger, but also are neutral enough to help future buyers envision themselves living in the space.”

 

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Perks Of Selling Your Home This Summer

The housing market forecast for the second part of this year remains positive, but there may not be a better time to sell than now. If you’re wondering what to consider when deciding if now is the time, here are some things to think about:

1. Your House Is Probably Going To Sell Quickly

Homes from the beginning of the year through this summer are selling fast according to the National Association of Realtors. With an average of just 17 days on the market, this indicates buyer competition. Homes going fast is a great sign for sellers. This is a major indicator that buyers are motivated to do (and pay) what it takes to purchase the home of their dreams.

2. Buyers Are Competing For Homes

In addition to selling fast, homes are receiving multiple offers. NAR reports sellers are seeing an average of 5 offers, and these offers are competitive ones. Shawn Telford, Chief Appraiser at CoreLogic, said in a recent interview: “The frequency of buyers being willing to pay more than the market data supports is increasing.” This confirms buyers are ready and willing to enter bidding wars for your home. Receiving several offers on your house means you can select the one that makes the most sense for your situation and financial well-being.

3. Low Supply, High Demand

One of the most significant challenges for motivated buyers is the current inventory of homes for sale, which while improving, remains at near-record lows. Total housing inventory at the end of May was down 20.6% from one year ago. There are signs, however, that more homes are coming to market. If you’re looking to take advantage of buyer demand and get the most attention for your house, selling now before more listings come to the market might be your best option.

4. If You’re Thinking of Moving Up, Now May Be the Time

Over the past 12 months, homeowners have gained a significant amount of wealth through growing equity. In that same period, homeowners have also spent a considerable amount of time in their homes, and many have decided their house doesn’t meet their needs. If you’re not happy with your current home, you can leverage that equity to power your move now. Your equity, plus current low mortgage rates, can help you maximize your purchasing power.

But these near-historic low rates won’t last forever. Experts forecast interest rates will increase in the coming months. As interest rates rise, even modestly, it could influence buyer demand and your purchasing power. If you’ve been waiting for the best time to sell to fuel your move up, you likely won’t find more favorable conditions than those we’re seeing today.

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REPAIRS TO MAKE BEFORE SELLING YOUR HOME

So you’re ready to put your home on the market and to you, everything looks great. Unfortunately, much of the wear and tear on your home becomes unnoticeable when it is something you see everyday. While you may not think about the one light switch that doesn’t work or the chipping paint in the guest bedroom, now is the time to take a step back and look at your home with fresh eyes. When you decide to sell your home, the first thing you should do is make any repairs you can to save yourself money in the long run. Here are a few repairs to cross off so you can get the best deal for your home!

1. Paint Your Walls

Re-painting the rooms that need a fresh face is the cheapest way to update the appearance of your home. Consider using light, neutral colors to appeal to a broader group of buyers. If the room is too dark or has chipped or dirty paint, make it look brand new with a coat of paint.

2. Make Minor Kitchen Repairs

Even if your kitchen isn’t large and spacious, a full renovation might not make sense financially. If your agent doesn’t advise you towards a renovation, consider making minor repairs instead. Paint what needs painted and install new fixtures where necessary. If your appliances aren’t operating properly or are in awful shape, you will need to replace them.

3. Update Your Bathroom

The first priority is making sure your bathroom looks clean. If the toilet looks old, replace the seat to give it a fresh new appearance. Replace any tiles that may be missing, clean the grout, and remove old wallpaper that may still remain. This is a room you should consider painting if need be to make it appear bright and clean.

4. Fix The Exterior

The outside of your home is the first thing buyers will see, so it is important that it looks good. Touch up the yard with sod as needed, remove any junk that may be in the yard, and make sure your fencing doesn’t have any missing parts or boards. Mow your grass and consider renting a power washer to make your siding look brand new.

5. Maximize Lighting

The goal is to maximize light so you can maximize the appearance of space. Light does a great job of making rooms look larger than they are. Update your fixtures, ensure that your windows appear clean and new, and add mirrors across from light sources to reflect even more light.

6. Ensure Functionality

Potential buyers are going to want everything to work. Do a full walk through of your home, checking all light switches, doorknobs, and locks. Repair or replace anything that doesn’t work as it should. The less issues that arise during the buyer’s home inspection, the better chance of you maximizing your profit during the sale.

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Tricks For Hard-To-Paint Areas

While some DIY projects seem like they should be left for the pros, painting doesn’t have to be one of them. Basic painting seems easy enough, but sometimes we run into those hard-to-paint areas and regret not hiring a professional. Instead of hanging up the towel, try out these tricks for those spots and see if you can finish your project all on your own (and save some money in the process!)

Painting Window Trim

Painting the wood diving panes and sashes on windows can seem daunting at first. Most people think that lining your windows with painters tape will help, but that is usually just a waste of time. Instead, just paint away! This is the one time it is okay to get a little paint outside of your target area. When paint gets on the glass, just allow it to dry and as soon as it does, scrape it off with a razor blade. Try not to let the paint set for longer than a day.

Painting Behind Toilets

Sometimes, the hardest places to paint are the tight spaces where we can’t really do much to make that space bigger. This is where you will need a “hot dog” roller. They’re smaller than regular rollers and when attached to a longer handle, can make painting in tight spaces a breeze. You can use this roller for other small spaces, like behind radiators or other fixtures.

Painting High Ceilings

If you’ve got a high ceiling or a tall wall where a ladder can’t safely reach, like above a staircase, you’ve usually got a challenge on your hands. This is where a paintbrush extension tool comes in. Rather than attaching a roller to a pole and losing stability, an extension tool is more like an extension of your arm. Make sure to avoid dripping paint by loading less paint on the brush that you typically would for a wall right in front of you.

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MAKE YOUR HOME STAND OUT THIS SUMMER

As May comes to a close, school ends and the summer officially begins, that means one important thing – home selling season is upon us. With the kids home from school and vacation time accumulated, both buyers and sellers are ready to enter the market as the weather heats up. As the market begins to grow, you may wonder how to make sure your home stands out among all the others trying to sell during the summer months. Here are a few tips to make sure you can catch the eye of potential buyers during busy season!

1. Tour Other For-Sale Homes

Check out open houses for homes similar to yours that are also on the market. As you are preparing to list, use these tours to see what decor and design-types are attractive to you and potential buyers. If there are things you notice that you do not like, be sure to remove those features from your own home if you have them. Sometimes stepping out of the box (or in this case, your own home) will allow you to look at your home through the lens of a potential buyer.

2. Complete Your Home Inspection Up Front

The home inspection can be a dreaded part of the closing process. Instead of waiting for a buyer, complete your home inspection ahead of time. The goal is to set your home apart from the others on the market, and an easy way to do so is letting those potential buyers know that your home is not just for sale, but it is already inspected. If you repair any issues found by the inspector, you’ll be one step ahead and gives potential buyers peace of mind.

3. Completely Remove Clutter

Decluttering and cleaning is always the first step on the list when you are preparing to list your home, but often we don’t take the clutter ‘removal’ part as seriously. Instead of just moving clutter from a room to a closet, completely remove the clutter from your home. Whether that means donating, storing, or just tossing those items, removing clutter will allow potential buyers to picture themselves in every part of your home, including your closets and garages – rather than just picturing your clutter stashed away there.

4. Curb Appeal Is Key

With spring quickly transitioning to summer, your yard may need a little love. Spring rains and warmth might’ve left your lawn a little overgrown. Take the time to remove weeds, mow your lawn, and add new plant life around the outside of your home. The outside will be the first thing potential buyers see, and you want them to be drawn in by your yard, not turned away by it.

5. Use Refreshments To Your Advantage

Whether you’re a baker or just love buying baked goods, open houses are the perfect opportunity to draw potential buyers in with sweets. With rising temperatures, a thoughtful treat with a glass of lemonade or ice water adds a personal touch to your open house that will, at a minimum, guarantee that potential buyers cross the threshold of your home. Sometimes, getting them in the door is all you need.

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Build a DIY Sporting Goods Center In Your Garage

 

What You’ll Need:

Bookcase

Locking Wheels

Drill

Bungee Cords

Peg Boards

Hooks & Holders

1. Find a bookcase

Choose a bookcase with at least three wide shelves so you can store gear in a variety of sizes.

2. Add locking wheels

Attach locking wheels to the bottom of the bookcase so you can easily move it around the mudroom or the garage.

3. Drill holes

Drill evenly spaced holes (about four or five, depending on the width of the bookcase) along the top surface of one of the shelves. Keep the holes fairly close to the edge — about one-half inch away or less.

On the underside of the shelf below, drill holes to match up exactly with the holes on the shelf above.

4. Attach bungee cords

Place the bungee cord hooks in the drilled holes, and arrange the cords vertically so they create a net. You want the cords to be pretty taut, so get the right size for your bookcase.

5. Mount peg boards

Frame the sides of your bookcase with 1-by-2-inch boards to support peg boards that have been cut to size. Secure the peg boards with a few nails on the top and bottom.

6. Customize with hooks and holders

Place hooks and holders on the peg board so you can hang your tennis rackets, baseball gloves, jerseys, helmets and more.

7. Load up your catch-all, MVP!

Grab your gear and organize the bins however you see fit. Now all you have to worry about is scoring the winning goal.

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Your House Could Be the Oasis in an Inventory Desert

Homebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices this year and next. As a result, buyer demand greatly outweighs the current housing supply. Here’s how the shortage of houses for sale sets yours up to be the oasis in an inventory desert.

According to the National Association of Realtors (NAR), today’s housing inventory sits at an incredibly low 2.1-month supply, far below the 6-month mark for a neutral market. Inventory of single-family homes a year ago was already very low, and as you can see in the graph below, this year’s levels are even lower:Your House Could Be the Oasis in an Inventory Desert | MyKCMDue to these market conditions, today’s buyers frequently enter fierce bidding wars while trying to purchase a home. This in turn drives up home prices and gives sellers incredible leverage in the negotiation process, two big wins if you’re going to sell your house this year.

Bottom Line

In such a hot market, it can feel as though the supply of homes has virtually dried up, leaving buyers to wander in an inventory desert. That’s why there’s never been a better time to sell. To a parched buyer needing to secure a home as soon as possible, your house could be a true oasis.

We can help! Call The Wheaton/Wass Real Estate Team today: 719.822.1444

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4 Big Incentives for Homeowners to Sell Now

The housing market keeps sailing along. The only headwind that could take it off course is the lack of inventory for sale. The National Association of Realtors (NAR) reports that there were 410,000 fewer single-family homes for sale this March than in March of 2020. The key to continued success in the residential housing market is for more listings to come on the market. However, many homeowners are concerned that selling their homes could be challenging for several reasons.

Recently, Homes.com released the findings of a survey that identified these concerns, as well as what it will take for homeowners to feel comfortable selling their houses. Here are the four major homeowner concerns and a quick explanation of what’s actually happening in the housing market today.

1. Homeowners don’t know if they’ll be able to secure their next home before selling.

In negotiations, leverage is the power that one side may have to influence the other side while moving closer to their negotiating position. A party’s leverage is based on the ability to award benefits or eliminate costs on the other side.

In today’s market, buyers have compelling reasons to purchase a home now:

  • To own a home of their own
  • To buy before prices continue to appreciate
  • To secure a mortgage at a historically low rate, while they last

These buyer needs give the seller tremendous leverage. Most already realize this leverage enables the homeowner to sell at a good price. However, this leverage may also be used to negotiate time to find their next home. The homeowner could sell their home to the buyer at today’s price, which will enable the purchaser to take advantage of current mortgage rates. In return, the buyer might lease the house back to the seller for a pre-determined length of time while the seller finds a new home or has one built.

This gives the buyer what they want while also giving the seller what they need. It’s a true win-win negotiation.

2. Homeowners don’t know if their current home will sell for the asking price or top market price.

This is the perfect time to maximize profits while selling a house. NAR just released a study showing that bidding wars are at an all-time high. The study reveals that when comparing the first quarter of last year to the first quarter of this year, the number of offers on homes for sale doubled from an average of 2.4 to 4.8 offers.

Whenever there’s a bidding war, the price of the item for sale escalates. Bloomberg recently reported:

“For the first time ever, the average U.S. home is selling for above its list price.”

If a seller is looking for a top-dollar sale, there’s no better time to sell than right now.

3. Homeowners don’t know if they will get an offer without their home requiring work or updates.

Again, leverage is the greatest strength a seller has in this market. Due to the lack of homes for sale, many buyers are more willing to take on home improvement projects themselves in order to get the home they’re after.

A recent post on whether or not to renovate before selling notes:

“It may be wise to let future homeowners remodel the bathroom or the kitchen to make design decisions that are best for their specific taste and lifestyle. As a seller, your dollars and time might be better spent working on small cosmetic updates, like refreshing some paint and power washing the exterior. Instead of over-investing in your home with upgrades that the buyers may change anyway, work with a real estate professional to determine the key projects that will maximize your listing, without overdoing it.”

If a seller is worried about doing work or updates on their home, they must realize that today’s historically low inventory likely renders these projects less critical to the sale of the house.

4. Homeowners don’t know if they can have a quick closing process.

When speed is important, there are two points sellers should look at:

  • The time it takes to find a buyer for the home
  • The time it takes to close the transaction

In the latest Existing Home Sales Report, NAR explains:

“Properties typically remained on the market for 18 days in March, down from 20 days in February and from 29 days in March 2020. Eighty-three percent of the homes sold in March 2021 were on the market for less than a month.”

Eighteen days is fast, and it’s a new record. Here are the days the average house is on the market in each state:4 Big Incentives for Homeowners to Sell Now | MyKCMRegarding the time it will take to close the transaction, all-cash sales accounted for 23% of all home purchase transactions in March. All-cash sales can usually be closed in thirty days.

If a mortgage is necessary, the most recent Origination Insight Report from Ellie Mae shows:

“Time to close all loans decreased in March. The average time to close a purchase fell to 51 days, down from 53 the month prior.”

If you’re looking for a quick closing process, there’s never been a market in which the two-step process (finding a buyer and closing the deal) has taken less time.

Bottom Line

Selling your house can be daunting, especially in a fast-paced market. However, the fact that we’re in such a strong sellers’ market clearly eliminates many common concerns. Let’s connect today so you can learn more about the opportunities for homeowners who are ready to sell.

Here at The Wheaton/Wass Real Estate Team we are tough negotiators and we know the market!

Call today and let us negotiate your next deal. 719.822.1444