MOVING ON, MOVING UP! USSF As the housing market continues to recover, renters are making their intentions toward homeownership known. In fact, according to a survey * conducted last year, six out of ten renters intend to buy a home in the next two years. Another study – this one from the National Association of REALTORS ® (NAR) 2012 Profile of Home Buyers and Sellers ** – noted that 39 percent of all housing sales from their one-year study period involved first-time buyers. What do the results of these studies mean to you? Well, if you’re a homeowner who’s been thinking about moving up, the time may be right to put your current home on the market, especially if it’s a moderately-priced property. Lawrence Yun, NAR Chief Economist, notes that because “buyer foot traffic is easily outpacing seller traffic” in today’s market, shortages of available inventory are limiting sales in some areas, which could possibly lead to the development of a seller’s market. In addition, he observes, “Supplies of homes costing less than $100,000 are tight in much of the country, especially in the West, so first-time buyers have fewer options.” Yun believes tighter inventory, a pent-up demand and favorable affordability conditions bode well for the market, and as such, expects existing home sales to increase by nine percent in 2013. Thinking about making a move? Please call today for the latest real estate activity in your particular neighborhood! * http://www.prnewswire.com/news-releases/pultegroup-survey-shows-us-renters-sentiment-towards- homeownership-is-improving-149627575.html ** http://www.realtor.org/reports/highlights-from-the-2012-profile-of-home-buyers-and-sellers Housing conditions are looking more and more positive in many areas, prompting many renters to think seriously about entering the real estate market. Compliments of Adrienne & Aaron Thompson Excelsior Real Estate, Inc. Adrienne & Aaron Thompson Excelsior Real Estate, Inc. 350 Hwy. 7, Suite 101 Excelsior, MN 55331 Office: 952-486-7146 Aaron: 612-384-5394 Adrienne: 612-600-3550 Fax: 952-486-7147 [email protected][email protected]www.ExcelsiorTeam.com The beginning of a busy real estate season has arrived! Call today if you, or someone you know, are interested in buying or selling. Together, we can see what’s on the market and get you ready for hot properties as they become available. Volume 9, Issue 4
Transcript
Moving on, Moving Up!
USSF
As the housing market continues to recover, renters are making their intentions toward homeownership known. In fact, according to a survey* conducted last year, six out of ten renters intend to buy a home in the next two years. Another study – this one from the National Association of REALTORS® (NAR) 2012 Profile of Home Buyers and Sellers** – noted that 39 percent of all housing sales from their one-year study period involved first-time buyers.
What do the results of these studies mean to you? Well, if you’re a homeowner who’s been thinking about moving up, the time may be right to put your current home on the market, especially if it’s a moderately-priced property.
Lawrence Yun, NAR Chief Economist, notes that because “buyer foot
traffic is easily outpacing seller traffic” in today’s market, shortages of available inventory are limiting sales in some areas, which could possibly lead to the development of a seller’s market. In addition, he observes, “Supplies of homes costing less than $100,000 are tight in much of the country, especially in the West, so first-time buyers have fewer options.”
Yun believes tighter inventory, a pent-up demand and favorable affordability conditions bode well for the market, and as such, expects existing home sales to increase by nine percent in 2013.
Thinking about making a move? Please call today for the latest real estate activity in your particular neighborhood!
The beginning of a busy real estateseason has arrived! Call today if you, orsomeone you know, are interested inbuying or selling. Together, we can seewhat’s on the market and get youready for hot properties as theybecome available.
Volume 9, Issue 4
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Baking SodaThe secret of sodium bicarbonate is its ability to neutralize pH levels, which is why so many people keep an open box in their fridge. But baking soda has many more uses. It’s especially convenient for removing odors from carpeting and upholstery, as it can simply be vacuumed up after being left to sit on wet spots overnight. It’s also great for freshening up stuffed animals that are smelling a little worse for wear but aren’t machine washable: just put the toy in a bag with some baking soda, close the bag, give it a good shake to distribute the baking soda, and let it sit for half an hour or so.
White VinegarJust as vinegar neutralizes germs, it’s excellent at neutralizing odors. There are a few different ways it can be used: pour some vinegar into a bowl/bowls and leave it/them out overnight to neutralize odors from cooking or a fresh paint job; pour a solution of one part vinegar per five parts water into a spray bottle and spritz to remove smoke or perfume odors from the air; when cutting onions, rub vinegar on your cutting board before and after, and on your hands when you’re done; pour a solution of equal parts vinegar and water onto smelly spots on clothing or carpeting, let it stand a few minutes, then rinse with water and blot with a cloth to dry.
Chalk Calcium carbonate, more commonly known as sidewalk or blackboard chalk, is very porous; as such, it can retain a lot of water, which makes it great for absorbing the moisture in air that gives clothes and other fabrics that unpleasant musty odor, as well as absorbing the musty odor itself. Use string or ribbon to tie together a bundle of chalk and hang it from hooks or nails in closets and linen cupboards and/or place bundles in mesh bags or old pantyhose and stick them in drawers; when the chalk itself gets damp, it’s time to replace it. Place a stick of chalk inside of smelly shoes until the odor is gone.
Activated CharcoalActivated charcoal – also called activated carbon – can be inexpensively purchased at your local drug or health food store. Like chalk, it’s very porous, and capable of absorbing an enormous amount of household odor relative to its small size. Use cheesecloth or pantyhose to make activated charcoal sachets for hanging in closets and tucking in drawers. Leave open containers out to absorb odors caused by cooking, smoking, or pets; in your fridge and freezer, activated charcoal is an even more effective odor eliminator than baking soda. The charcoal will need replacing every month or so.
Making ScentS, naturallyWhether for environmental, health, or economic reasons, many people have stopped buying commercial odor-
eliminating products, most of which are full of chemicals and merely mask odors (often with overpowering
scents) rather than removing them. Below are four ways to eliminate odors naturally; some you may already be
familiar with – others you may have never thought of.
Value JudgmentReady oR not?
Volume 9, Issue 4 3
deciding whether to buy a fixer-upper or a
move-in ready home isn’t a question of which is
“better”, but rather which makes the most sense
for you. to help you figure that out, consider the
following questions.
What’s your budget? Move-in ready homes typically cost more than fixer-uppers, as they don’t need work. Plus, there can be more competition for move-in ready homes, which further drives up the price. With lower asking prices and less competition, fixer-uppers can be a great way to buy into a neighborhood you otherwise couldn’t afford.
What is the nature of work needed? Are the problems with the fixer-upper largely cosmetic, or are they significant, such as poor plumbing or wiring? If the work needed is significant, the high cost of improvements may mean you’ll end up spending more on the fixer-upper than you would have on a move-in ready home.
Do you have the time and know-how to fix up a fixer-upper? If so, buying such a property can be a great way to get exactly what you want in a home while boosting its resale value. If not, you’re better off buying a turnkey home, as having to hire contractors could negate any savings incurred by purchasing a fixer-upper.
What are the neighborhood dynamics? Buying a home in an undesirable location or depreciating neighborhood is always a risky proposition, but this is especially true when buying a fixer-upper, as you are less likely to recoup your improvement expenses on a home in such a location or neighborhood.
Renovations gone wrong. Repairs and improvements generally add to the appeal and value of a property, but projects that have been poorly done or left unfinished do the opposite: buyers will see dollar signs as they think about the money (and time) needed to finish or redo the work, and they’ll lower their offer as a result – if they make an offer at all.
High-end or highly customized renovations. For-sale homes should appeal to the widest possible swath of potential buyers; high-end and highly customized renovations, however, have the opposite effect, limiting the pool of prospective buyers, as such renos tend to appeal to a specific few home hunters, rather than to the average home hunter.
Outdated kitchen and bathrooms. More than any other rooms in a home, these rooms tend to make or break a property in the eyes of buyers. Just as high-end, futuristic-looking kitchens and bathrooms can turn buyers off and contribute to your home lingering longer on the market, so too can kitchens and bathrooms in serious need of a makeover.
Pets. Wonderful companions though they are, pets can cause damage to carpets, walls, and woodwork, and also leave lingering, unpleasant odors. Even those who like and are not allergic to animals – who won’t mind visiting and purchasing a home with pets – won’t want to move into a home where evidence of them can still be seen – or smelled.
even an otherwise good home (one with a prime
location and great floor plan, for example), can
frighten off buyers and become devalued as a
result of any of the following factors – all of which
are avoidable.
Whatever you want to call it – foodscaping, urban agriculture, urban farming – growing fruits and vegetables right in your own yard is a trend that’s catching on across the country.
One benefit of growing your own fruits and veggies is reducing the distance your food has to travel to reach your table from hundreds of miles, typically, to a matter of feet. The result is food that’s fresher and, as such, better tasting. A shorter trip also means reduced dependence on fossil fuels, which is good news for environmental sustainability.
Many people have opted to grow their own food for economic reasons too. In addition to being money savers (growing your own produce is cheaper than buying it from a retailer), urban gardens can be money makers too: an increasing number of urban farmers are selling their homegrown fruits and vegetables at local markets, through the Internet, and to small local restaurants and retailers.
Anyone interested in growing their own produce should check local ordinances before moving to a new address or tearing up the grass at their current one – they may find, for example, that local laws prohibit homeowners from growing food in their front (but not back) yards.
Fortunately, increased interest in the practice and pressure from citizens has motivated many municipalities to take another look at their bylaws to make it easier for homeowners to grow their own food.
Thinking about the benefits of a garden, or maybe a larger yard? Let’s talk about your housing “wish list” today!
A GrowinG Trend
Terminology TipTITLE SEARCH — A detailed examination
of a property’s ownership documents
to confirm that the seller is the legal
owner of the property (i.e. there are no
questions regarding the seller's ownership
claim) and that there are no liens or
other encumbrances on the property.
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MINNETRISTAJUST SOLD PENDINGJUST LISTED
18100 Woolman DriveSteiner & Koppelman Home
Lake MinnewashtaLake Front w/Sand Beach
26745 Edgewood Road3 Acre Estate w/Pool
7011 Hallstead DriveLarge Walkout Rambler
Compliments of Adrienne & Aaron Thompson Excelsior Real Estate, Inc.Compliments of Adrienne & Aaron Thompson Excelsior Real Estate, Inc.
