some helpful advice for fall home sales...from realtor.com
Although the real estate business tends to slow down in the fall, the season still can be an attractive time to put a home on the market. If you want to sell your house in the next few months, it can be done.
Potential buyers—such as empty nesters or millennials who aren’t worried about moving after the school year has started—will compete for fewer homes on the market and will likely want to seal a deal before the holiday season kicks into high gear.
Here are three tips to help make your home more attractive in autumn, so you can sell your house before winter comes.
1. Clean Up
As many regions slowly shift from a sellers’ market to a moderate or buyers’ market, you’ll want to do everything you can to make your house look its best.
Pay particular attention to eliminating clutter and safety hazards that can crop up with cooler weather:
•Make sure your yard, walkways and gutters are free of leaves and debris.
•Mow your lawn so it looks neat.
•Trim trees so unexpected winds don’t knock down branches that could damage your home or hurt anybody.
•If it is rainy, be sure you have a good doormat so visitors can wipe their feet and not traipse mud and water through the house.
•If you already have snow, be sure stairs and walkways leading to your front door are not icy.
•Wash decks and wipe down windows so they sparkle instead of appear streaked by rain.
•Vacuum and wash down the fireplace, especially if it hasn’t been used in months.
•If you live in a region where it’s still warm enough to use the patio, make sure the area is inviting and arranged with the views from indoors in mind.
•Above all, make sure your doorway and the rest of the house is clear from knick knacks, bicycles and toys that make your home appear cluttered.
2. Create Autumn Curb Appeal
If your house's exterior looks drab, you may want to consider painting it a warm color, planting seasonal flowers, or placing pumpkins strategically along your walkup to accent your home’s appeal with instant color.
Potential buyers will make an instant judgment when they see your home, and you want to be sure it’s positive.
While you don’t want to go overboard with fall decorations that detract from the home itself, a few displays like a festive front-door wreath—and lighting so people can clearly see the path to your front door—can make your home feel fresh, even in the fall.
3. Keep the House Cozy
Entering a cold house could leave an unfavorable impression. So warm up your home with a fresh coat of paint and set the thermostat at a comfortable temperature.
Another way to warm up a home is with light, especially as days get shorter leading into winter. Be sure to open blinds and curtains so plenty of light illuminates the home’s interior.
A few embellishments like red, orange or golden yellow pillows can breathe new life into dull sofa—or a fall centerpiece can highlight a certain area of the home.
While you don’t want your home to look like the latest department store display, well-chosen embellishments that give potential buyers the impression you’ve paid attention to the fine details and taken care of any problems with the home will help you put your best face forward.
And remember, there’s nothing wrong with trying to sweeten the deal with the comforting aroma of a freshly-baked, cinnamon-laced apple pie or pumpkin cupcake to leave a lasting impression of your home as the potential buyer takes a bite.
Tuesday, August 22, 2017
7 Reasons Fall Might Just Be The Best Time to Buy a Home
still a seller's market in Denver, yet here's some things to consider on the seasonal advantages to buying this fall...
from realtor.com
Spring and summer usually get all the real estate glory with lofty accolades as the best time to buy a home—and, of course, the busiest. Meanwhile, their seasonal sibling, fall, often gets tossed to the leaf pile by potential buyers who might think autumn is just about haunted houses and turkey dinners rather than house hunting.
But surprise! Fall is not only a great time to buy a home, it might also be the best season to find the perfect property (and not just because you can browse the listings while cupping a pumpkin latte).
Read on to discover the many reasons.
Reason No. 1: Lower home prices
The best month to snag a deal when buying a home? October. This isn't just some random guess; it's based on RealtyTrac's analysis of more than 32 million home sales over 15 years. The resulting data showed that on average, October buyers paid 2.6% below estimated market value at the time for their homes.
For a house that would normally be $300,000, 2.6% translates into a $7,800 discount. Those savings are nothing to sneeze at, so bargain hunters should get hopping once autumn rolls around. (For an even better deal, aim for Oct. 8, when buyers get a home, on average, at 10.8% below estimated market value.)
"For buyers looking for a better deal, fall is a great time to make offers," says New York City Realtor® Joanne R. Douglas. (In case you're wondering, the worst month for buyers is April, when homes sell for 1.2% above estimated market value. The worst single day is Jan. 19, with an average 9.6% premium.)
Reason No. 2: Less competition
Like a beach after Labor Day, the realty market clears out as the days turn crisp. Most summer buyers have already found a home, meaning a fall buyer will have way less competition for the available houses on the market, says Bill Golden of Re/Max Metro Atlanta Cityside. And don't worry about those buyers who didn't close before August, either.
"Many folks will drop out of the market until after the new year," says Golden, giving a fall buyer even greater room to roam at open houses. There may not be as many properties to choose from, but as Golden says, "a little patience and perseverance could reap big rewards."
Reason No. 3: Worn-out home sellers
Say hello to your little friend, leverage. Sellers who have their homes on the market in the fall "are generally people who need to sell, which can make for better negotiations for the buyer," says Golden. And if a home you have your eye on has been on the market all summer, you're really in the driver's seat as far as making an offer the seller can't refuse. The longer a home sits on the market, the more negotiating power the buyer wields.
Reason No. 4: The holidays are around the corner
Not only are most home sellers worn out after the summer selling season, they're also caught between a real estate rock and a hard place in that the holidays are barreling down on them. If they want to move and settle down in time to host Thanksgiving and put up their Christmas lights, they'll have to close, fast. So use this preholiday window to your advantage by offering to help them vacate fast if they cut you a deal.
Reason No. 5: Year-end tax credits
No one wants to buy a home purely to make their accountant happy. But there's a sweet added incentive to closing on a home at the end of the fiscal year. Come the following April 15, you might be able to take some nice tax deductions, including closing costs, property tax, and mortgage interest, to offset your taxable earnings.
Reason No. 6: More quality time with your real estate team
As the year comes to an end, fewer buyers also means you should have the full attention of your real estate agent, mortgage broker, real estate lawyer, and everyone else on your house hunting team. You can take your time to ask all those questions you have about earnest money, due diligence, title transfers, and more without feeling like you're horning in their busiest season to turn a buck.
Reason No. 7: Home improvement bargains
Once you close on that home you found in the fall, you may want to upgrade your appliances. Luckily, December is when major appliances—refrigerators, stoves, washers, and dryers—are at their very cheapest, according to Consumer Reports. It's also the best time of year to buy cookware and TVs.
So once you're settled in (and provided you have any money left), get ready to renovate!
from realtor.com
Spring and summer usually get all the real estate glory with lofty accolades as the best time to buy a home—and, of course, the busiest. Meanwhile, their seasonal sibling, fall, often gets tossed to the leaf pile by potential buyers who might think autumn is just about haunted houses and turkey dinners rather than house hunting.
But surprise! Fall is not only a great time to buy a home, it might also be the best season to find the perfect property (and not just because you can browse the listings while cupping a pumpkin latte).
Read on to discover the many reasons.
Reason No. 1: Lower home prices
The best month to snag a deal when buying a home? October. This isn't just some random guess; it's based on RealtyTrac's analysis of more than 32 million home sales over 15 years. The resulting data showed that on average, October buyers paid 2.6% below estimated market value at the time for their homes.
For a house that would normally be $300,000, 2.6% translates into a $7,800 discount. Those savings are nothing to sneeze at, so bargain hunters should get hopping once autumn rolls around. (For an even better deal, aim for Oct. 8, when buyers get a home, on average, at 10.8% below estimated market value.)
"For buyers looking for a better deal, fall is a great time to make offers," says New York City Realtor® Joanne R. Douglas. (In case you're wondering, the worst month for buyers is April, when homes sell for 1.2% above estimated market value. The worst single day is Jan. 19, with an average 9.6% premium.)
Reason No. 2: Less competition
Like a beach after Labor Day, the realty market clears out as the days turn crisp. Most summer buyers have already found a home, meaning a fall buyer will have way less competition for the available houses on the market, says Bill Golden of Re/Max Metro Atlanta Cityside. And don't worry about those buyers who didn't close before August, either.
"Many folks will drop out of the market until after the new year," says Golden, giving a fall buyer even greater room to roam at open houses. There may not be as many properties to choose from, but as Golden says, "a little patience and perseverance could reap big rewards."
Reason No. 3: Worn-out home sellers
Say hello to your little friend, leverage. Sellers who have their homes on the market in the fall "are generally people who need to sell, which can make for better negotiations for the buyer," says Golden. And if a home you have your eye on has been on the market all summer, you're really in the driver's seat as far as making an offer the seller can't refuse. The longer a home sits on the market, the more negotiating power the buyer wields.
Reason No. 4: The holidays are around the corner
Not only are most home sellers worn out after the summer selling season, they're also caught between a real estate rock and a hard place in that the holidays are barreling down on them. If they want to move and settle down in time to host Thanksgiving and put up their Christmas lights, they'll have to close, fast. So use this preholiday window to your advantage by offering to help them vacate fast if they cut you a deal.
Reason No. 5: Year-end tax credits
No one wants to buy a home purely to make their accountant happy. But there's a sweet added incentive to closing on a home at the end of the fiscal year. Come the following April 15, you might be able to take some nice tax deductions, including closing costs, property tax, and mortgage interest, to offset your taxable earnings.
Reason No. 6: More quality time with your real estate team
As the year comes to an end, fewer buyers also means you should have the full attention of your real estate agent, mortgage broker, real estate lawyer, and everyone else on your house hunting team. You can take your time to ask all those questions you have about earnest money, due diligence, title transfers, and more without feeling like you're horning in their busiest season to turn a buck.
Reason No. 7: Home improvement bargains
Once you close on that home you found in the fall, you may want to upgrade your appliances. Luckily, December is when major appliances—refrigerators, stoves, washers, and dryers—are at their very cheapest, according to Consumer Reports. It's also the best time of year to buy cookware and TVs.
So once you're settled in (and provided you have any money left), get ready to renovate!
“Granny cottages” growing in Denver after 2010 city zoning change
some people call them granny pods, granny cottages, etc...
interesting articles from Denver Post, along with pics below....
When Jennifer Superka and her husband, Brian, bought their home in Denver’s Sunnyside neighborhood in 2010, they had a broken down old blacksmith studio at the back of their property.
Shortly after, they decided to convert the shop and overhaul it into an apartment that they rent out. The money they get nearly pays for their mortgage.
“I was thinking maybe down the line my mom would move in, but the bedroom is a loft, so it’s not very practical,” Jennifer Superka said.
She is just one person taking advantage of the city’s new zoning codes that took effect in 2010 that, in part, allowed for more accessory dwelling units, commonly referred to as “granny flats” or cottage houses. They were added to the zoning code to give more options for people to move in family members such as elder parents, or for seniors to perhaps move in a caretaker and still maintain a private residence.
The units can be attached or detached separate units of a house that allow for an independent living space. The city only tracks newly built cottage houses, but there is an uptick, as 66 units have been built in areas of the city where the zoning code permits the additions since 2010. With all carriage houses or granny flats, the owner is required to occupy one of the units and must own both structures.
Superka’s unit is not among the 66, as the building was converted from a pre-existing structure.
“Under the old code, (accessory dwelling units) were only allowed in parts of the city and the newest mixed-use zoned districts,” said Kyle Dalton, principal city planner with Denver’s Community Planning and Development.
Popular neighborhoods that have seen the bulk of the new units include Berkeley/Regis, Platt Park, Five Points and Whittier. Some of these neighborhoods saw the units as a middle ground between single-family and duplex housing to keep the character of the neighborhood, but open up new housing opportunities.
Other neighborhoods, such as Park Hill, didn’t want to allow the units and the new zoning reflects that.
“It’s one way to chip away at affordable housing in a community without having negative impacts that other developments are sometimes perceived to have,” Dalton said.
The city’s old zoning code, which took effect in the 1950s, did not allow the carriage houses or granny flats in single-family residential areas. Some existed and still exist in areas that were zoned for two units, according to Community Planning and Development spokeswoman Andrea Burns.
Mollie Crow, also in the Sunnyside neighborhood, is in the midst of building a garage with a carriage house above it after tearing down her old garage. Crow’s path to building has taken some time, as she intends to the do the construction herself.
Both Crow and Superka said the permitting process is arduous, but both are glad the city allows the cottage houses. Crow said she intends for her parents to live either in the unit or her home.
“I would say it adds more community, it allows young couples who want to live here and can’t afford it or don’t want to live in apartment complex,” Crow said.
The dwelling unit will also increase the value of the home, but by how much remains in question.
According to Denver assessor Keith Erffmeyer, the value will vary based on the amenities in a unit. He compared it to adding a finished basement, but said it’s hard to judge how much a unit will increase the value.
“It’s in the eye of the beholder,” he said.
interesting articles from Denver Post, along with pics below....
When Jennifer Superka and her husband, Brian, bought their home in Denver’s Sunnyside neighborhood in 2010, they had a broken down old blacksmith studio at the back of their property.
Shortly after, they decided to convert the shop and overhaul it into an apartment that they rent out. The money they get nearly pays for their mortgage.
“I was thinking maybe down the line my mom would move in, but the bedroom is a loft, so it’s not very practical,” Jennifer Superka said.
She is just one person taking advantage of the city’s new zoning codes that took effect in 2010 that, in part, allowed for more accessory dwelling units, commonly referred to as “granny flats” or cottage houses. They were added to the zoning code to give more options for people to move in family members such as elder parents, or for seniors to perhaps move in a caretaker and still maintain a private residence.
The units can be attached or detached separate units of a house that allow for an independent living space. The city only tracks newly built cottage houses, but there is an uptick, as 66 units have been built in areas of the city where the zoning code permits the additions since 2010. With all carriage houses or granny flats, the owner is required to occupy one of the units and must own both structures.
Superka’s unit is not among the 66, as the building was converted from a pre-existing structure.
“Under the old code, (accessory dwelling units) were only allowed in parts of the city and the newest mixed-use zoned districts,” said Kyle Dalton, principal city planner with Denver’s Community Planning and Development.
Popular neighborhoods that have seen the bulk of the new units include Berkeley/Regis, Platt Park, Five Points and Whittier. Some of these neighborhoods saw the units as a middle ground between single-family and duplex housing to keep the character of the neighborhood, but open up new housing opportunities.
Other neighborhoods, such as Park Hill, didn’t want to allow the units and the new zoning reflects that.
“It’s one way to chip away at affordable housing in a community without having negative impacts that other developments are sometimes perceived to have,” Dalton said.
The city’s old zoning code, which took effect in the 1950s, did not allow the carriage houses or granny flats in single-family residential areas. Some existed and still exist in areas that were zoned for two units, according to Community Planning and Development spokeswoman Andrea Burns.
Mollie Crow, also in the Sunnyside neighborhood, is in the midst of building a garage with a carriage house above it after tearing down her old garage. Crow’s path to building has taken some time, as she intends to the do the construction herself.
Both Crow and Superka said the permitting process is arduous, but both are glad the city allows the cottage houses. Crow said she intends for her parents to live either in the unit or her home.
“I would say it adds more community, it allows young couples who want to live here and can’t afford it or don’t want to live in apartment complex,” Crow said.
The dwelling unit will also increase the value of the home, but by how much remains in question.
According to Denver assessor Keith Erffmeyer, the value will vary based on the amenities in a unit. He compared it to adding a finished basement, but said it’s hard to judge how much a unit will increase the value.
“It’s in the eye of the beholder,” he said.
Retirees Moving to Mountain and Pacific West
interesting article from unitedvanlines.com
South Dakota Overtakes Oregon as the Nation’s “Top Moving Destination”
2016 National Movers Study
Retirees Moving to Mountain and Pacific West
South Dakota narrowly overtakes Oregon, which held the top spot for the previous three years, as the nation’s “Top Moving Destination.” This is the first time South Dakota has held the no. 1 spot. Vermont inched out Oregon for the no 2. position, with Oregon rounding out the top three. Those are the results of the United Van Lines’ 40th Annual National Movers Study, which tracks customers’ state-to-state migration patterns over the past year.
Retirees are continuing to move to the Mountain and Pacific West. The Western U.S. is represented on the high-inbound list by Oregon (67 percent), Idaho (65 percent), Washington (58 percent), Nevada (58 percent) and Arizona (57 percent). Of moves to Oregon, the highest ranking Western state, a new job or company transfer (53 percent) and retirement (19 percent) led the reasons for most inbound moves.
The Southern states also saw a high number of people moving in with 53 percent of total moves being inbound. United Van Lines found the top reasons for moving south included company transfer/new job, retirement and proximity to family.
The Northeast continues to experience a moving deficit with New Jersey (63 percent outbound), New York (63 percent) and Connecticut (60 percent) making the list of top outbound states for the second consecutive year. Pennsylvania (56 percent) also joined the top outbound list this year.
“For 40 years, United Van Lines has been tracking which states people are moving to and from. We also survey our customers to understand why they are moving from state-to-state,” said Melissa Sullivan, director of marketing communications at United Van Lines. “As the nation’s largest household goods mover, the data we collect is reflective of national migration trends.”
“This year’s data clearly reflects retirees’ location preferences. We are seeing more retirees than ever decide to relocate, and as a result, new retirement hubs are popping up in Western states, said Michael Stoll, economist, professor and chair of the Department of Public Policy at the University of California, Los Angeles. “Interestingly enough, these retirees are leaving at such a fast pace that the movement of millennials to urban areas in the Midwest and Northeast is being overshadowed.”
Regarding why people are moving, the Mountain West led the way with retirees, with one in four movers indicated they chose to move to this location for retirement reasons. Regions which saw the most inbound moves for company transfers included the Midwest (63 percent) and Pacific West (62 percent). The region with the largest exodus of residents due to finding jobs elsewhere was the southern U.S. (62 percent). Across all regions, nearly one in five of those who moved in 2016 moved to be closer to family.
United has tracked migration patterns annually on a state-by-state basis since 1977. For 2016, the study is based on household moves handled by United within the 48 contiguous states and Washington, D.C. This study ranks states based off the inbound and outbound percentages of total moves in each state. United classifies states as “high inbound” if 55 percent or more of the moves are going into a state, “high outbound” if 55 percent or more moves were coming out of a state or “balanced” if the difference between inbound and outbound is negligible.
Moving In: The top inbound states of 2016 were:
1.South Dakota
2.Vermont
3.Oregon
4.Idaho
5.South Carolina
6.Washington
7.District of Columbia
8.North Carolina
9.Nevada
10.Arizona
South Dakota is the most popular moving destination of 2016 with nearly 68 percent of moves to and from the state being inbound. The state has continued to climb the ranks, increasing inbound migration by 23 percent over the past five years. New to the 2016 top inbound list are South Dakota at No. 1 and Arizona at No. 10 with 68 and 57 percent inbound moves, respectively.
Moving Out: The top outbound states for 2016 were:
1.New Jersey
2.Illinois
3.New York
4.Connecticut
5.Kansas
6.Kentucky
7.West Virginia
8.Ohio
9.Utah
10.Pennsylvania
In addition to the Northeast, Illinois (63 percent) moved up one spot on the outbound list, to no. 2, ranking in the top five for the last eight years.
New additions to the 2016 top outbound list include Kentucky (58 percent), Utah (56 percent) and Pennsylvania (56 percent).
Balanced
Several states gained approximately the same number of residents as those that left. This list of “balanced” states includes California, New Mexico and Delaware. Delaware appeared on the balanced list for the second consecutive year.
South Dakota Overtakes Oregon as the Nation’s “Top Moving Destination”
2016 National Movers Study
Retirees Moving to Mountain and Pacific West
South Dakota narrowly overtakes Oregon, which held the top spot for the previous three years, as the nation’s “Top Moving Destination.” This is the first time South Dakota has held the no. 1 spot. Vermont inched out Oregon for the no 2. position, with Oregon rounding out the top three. Those are the results of the United Van Lines’ 40th Annual National Movers Study, which tracks customers’ state-to-state migration patterns over the past year.
Retirees are continuing to move to the Mountain and Pacific West. The Western U.S. is represented on the high-inbound list by Oregon (67 percent), Idaho (65 percent), Washington (58 percent), Nevada (58 percent) and Arizona (57 percent). Of moves to Oregon, the highest ranking Western state, a new job or company transfer (53 percent) and retirement (19 percent) led the reasons for most inbound moves.
The Southern states also saw a high number of people moving in with 53 percent of total moves being inbound. United Van Lines found the top reasons for moving south included company transfer/new job, retirement and proximity to family.
The Northeast continues to experience a moving deficit with New Jersey (63 percent outbound), New York (63 percent) and Connecticut (60 percent) making the list of top outbound states for the second consecutive year. Pennsylvania (56 percent) also joined the top outbound list this year.
“For 40 years, United Van Lines has been tracking which states people are moving to and from. We also survey our customers to understand why they are moving from state-to-state,” said Melissa Sullivan, director of marketing communications at United Van Lines. “As the nation’s largest household goods mover, the data we collect is reflective of national migration trends.”
“This year’s data clearly reflects retirees’ location preferences. We are seeing more retirees than ever decide to relocate, and as a result, new retirement hubs are popping up in Western states, said Michael Stoll, economist, professor and chair of the Department of Public Policy at the University of California, Los Angeles. “Interestingly enough, these retirees are leaving at such a fast pace that the movement of millennials to urban areas in the Midwest and Northeast is being overshadowed.”
Regarding why people are moving, the Mountain West led the way with retirees, with one in four movers indicated they chose to move to this location for retirement reasons. Regions which saw the most inbound moves for company transfers included the Midwest (63 percent) and Pacific West (62 percent). The region with the largest exodus of residents due to finding jobs elsewhere was the southern U.S. (62 percent). Across all regions, nearly one in five of those who moved in 2016 moved to be closer to family.
United has tracked migration patterns annually on a state-by-state basis since 1977. For 2016, the study is based on household moves handled by United within the 48 contiguous states and Washington, D.C. This study ranks states based off the inbound and outbound percentages of total moves in each state. United classifies states as “high inbound” if 55 percent or more of the moves are going into a state, “high outbound” if 55 percent or more moves were coming out of a state or “balanced” if the difference between inbound and outbound is negligible.
Moving In: The top inbound states of 2016 were:
1.South Dakota
2.Vermont
3.Oregon
4.Idaho
5.South Carolina
6.Washington
7.District of Columbia
8.North Carolina
9.Nevada
10.Arizona
South Dakota is the most popular moving destination of 2016 with nearly 68 percent of moves to and from the state being inbound. The state has continued to climb the ranks, increasing inbound migration by 23 percent over the past five years. New to the 2016 top inbound list are South Dakota at No. 1 and Arizona at No. 10 with 68 and 57 percent inbound moves, respectively.
Moving Out: The top outbound states for 2016 were:
1.New Jersey
2.Illinois
3.New York
4.Connecticut
5.Kansas
6.Kentucky
7.West Virginia
8.Ohio
9.Utah
10.Pennsylvania
In addition to the Northeast, Illinois (63 percent) moved up one spot on the outbound list, to no. 2, ranking in the top five for the last eight years.
New additions to the 2016 top outbound list include Kentucky (58 percent), Utah (56 percent) and Pennsylvania (56 percent).
Balanced
Several states gained approximately the same number of residents as those that left. This list of “balanced” states includes California, New Mexico and Delaware. Delaware appeared on the balanced list for the second consecutive year.
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