https://www.joleachman.com/blog daily 0.75 2026-02-10 https://www.joleachman.com/blog/escrow-101 monthly 0.5 2026-02-10 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1770761985726-YENFZ7VMY6VU7LSWZU28/unsplash-image-SJvDxw0azqw.jpg BLOG - Escrow 101 - Escrow Officers What is the Role of an Escrow Officer? An escrow officer serves as the neutral facilitator, managing a real estate transaction from start to finish and making sure the transaction is secure, compliant, and completed smoothly. As they work for both parties, their role includes managing the escrow account, verifying documents, tracking conditions, and coordinating the closing. The Escrow team works for you. You are encouraged to call them any time there is an issue you do not understand, know how to clear up or any stumbling block you anticipate (like a second mortgage your ex partner took out on the home that does not show up on title). https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1770762248046-IMK3OEQJGISW9Z8N4AMT/unsplash-image--o90yRQoXAM.jpg BLOG - Escrow 101 - The Steps…. OPENING ESCROW After the purchase agreement is signed, and escrow account is opened with an escrow company or attorney. DEPOSITING FUNDS The buyer places earnest money and later the down payment into an escrow account. DOCUMENT REVIEW The escrow officer ensures all required documents – title reports, loan papers, and disclosures – are complete and accurate. If they find an inconsistency, they make sure the error is corrected before closing can move forward. CONDITION FULFILLMENT Inspections, appraisals, and any agreed-upon repairs are completed. Any other obligations created in the contract are fulfilled. CLOSING Once all conditions are met, funds are released to the seller, and the buyer receives the keys. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/e212f72a-0f8f-4253-ae46-8f76642be5b7/unsplash-image-OxXmASDLFjY.jpg BLOG - Escrow 101 - ESCROW KEEPS US ALL ON OUR TOES AND MAKES SURE WE MAKE IT TO THE FINISH LINE ON TIME. https://www.joleachman.com/blog/san-diego-is-one-of-the-most-peaceful-places-to-live-in-the-country monthly 0.5 2026-01-22 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1769124250519-7PGADO2D09W3OBLUJLGW/unsplash-image-3_ROcQaL1uw.jpg BLOG - San Diego Is One of the Most Peaceful Places to Live in the Country - Whether we live alone or are raising a family, we place high importance on feeling safe and secure, but I know from personal experience that it can be hard to decide the best place to call home. What makes for a peaceful place to live can mean different things to different people, from things like natural beauty, a feeling of community, and family-friendly attractions to important issues like job security and low crime rates. A lot of factors give us comfort. It turns out that our very own city of San Diego is not only one of the best cities in Southern California but it has been rated one of the most peaceful places to live in the entire country. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1769123918983-B1PV913N6YTZR3HDJ2U8/unsplash-image-4yICUuLdgGs.jpg BLOG - San Diego Is One of the Most Peaceful Places to Live in the Country - It may be a bit unexpected for a large city to be named one of the country’s most peaceful places to live, but a closer look at San Diego makes it clear that the title is well-deserved. With somewhere around 300 sunny days per year and moderate, warm temperatures that rarely dip below 50 or reach above 80 degrees, San Diego is an extremely popular vacation destination, especially for those of us who live in SoCal. The same conditions that make tourism flourish are just part of what makes this city one of the nation’s most peaceful places to live. Of course, San Diego’s coastal location adds to the relaxed, stress-free atmosphere that characterizes life here. Beautiful beaches, stunning views, and a temperate climate cannot help but contribute to a peaceful environment. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1769123830569-9NGH6PKZMN6TA18WOW6Y/unsplash-image-S3nUOqDmUvc.jpg BLOG - San Diego Is One of the Most Peaceful Places to Live in the Country - Great Educational Opportunities Excellent test scores and graduation rates, combined with advanced math and science curriculums, testify to the fact that San Diego has some of California’s top public schools. In addition to the great school system, tons of family-friendly activities make the city a fantastic choice for raising a family. Families love the proximity to attractions like the San Diego Zoo Safari Park, Sea World, Balboa Park, a baseball stadium, Old Town San Diego, Coronado Island and more. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1769123759225-CSQ3D230QQC5L12J6BL2/unsplash-image-yo01Z-9HQAw.jpg BLOG - San Diego Is One of the Most Peaceful Places to Live in the Country - San Diego is also praised for its job market with competitive pay rates and a rapidly growing leisure and hospitality sector. When it comes to government jobs, the city proudly maintains a merit system that results in equal employment and promotion opportunities. With affordable costs, high quality, and ease of access, San Diego boasts and excellent healthcare system. As a matter of fact, in the 2022-2023 “Best Hospitals” survey by U.S. News and World Report, the University of California San Diego was rated #5 in the state which puts it toward the top when it comes to the best health care providers in the country. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1769123720239-U7OVG96YEUI7MIAV2A67/unsplash-image-od3jdQqX8O8.jpg BLOG - San Diego Is One of the Most Peaceful Places to Live in the Country - Physical safety, of course, affects peace and San Diego has ranked among the top safest big cities in the country. The overall crime rate is far lower than the national average, some communities even boasting a crime rate of nearly zero. The city’s relative safety is not a coincidence. The police department is a priority when it comes to budget, meaning the department can recruit top officers and give them what they need to do their jobs well, including excellent training and state-of-the-art equipment. A generous budget also means the capability to hire a larger force. Compared to other cities of similar size, there are more officers per capita, so trouble always receives a response, and re-incidence is highly reduced. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1769125396257-8VR7BO9NMZD253N92SPR/unsplash-image-KMn4VEeEPR8.jpg BLOG - San Diego Is One of the Most Peaceful Places to Live in the Country - Make it stand out COME VISIT….YOU ARE WELCOME TO STAY!!! https://www.joleachman.com/blog/why-do-some-homes-sell-fast-and-others-not-so-much monthly 0.5 2026-01-22 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/ff28e86e-818b-4c60-afa6-ea4b15aafb71/Screenshot+2025-12-03+at+11.47.36%E2%80%AFAM.png BLOG - Why do some homes sell fast and others, not so much - Make it stand out Data from Realtor.com shows most of the inventory growth lately is actually from active listings that are staying on the market and taking longer to sell. The blue bars show active listings. These are the homes that are sitting month to month and not selling. The green bars are new listings, the homes that were just put on the market. And it’s clear there are fewer new listings compared to how many are staying on the market unsold. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1673989732461-WOBLUS0HOCX6FROY7FGU/unsplash-image-lIvqoCl6h-A.jpg BLOG - Why do some homes sell fast and others, not so much - Why Some Homes Sell and Others Sit The secret to selling in today’s market is simple. Make sure your house is easy for buyers to say yes to as soon as it is listed. Price it based on current conditions (not what your neighbor sold for 3 years ago). Make important repairs. And highlight the best things about your house. If you do that, it will sell in any market – sometimes even faster than you’d think. Because the truth is, homes that are priced right today are still selling. It’s the homeowners who are clinging to outdated expectations that are seeing their house sit and their listing go stale. According to Redfin and HousingWire, here are some of the most common reasons sales stall out: Priced it too high from the start Skipped necessary repairs before listing Didn’t stage the house well Sellers won’t negotiate with buyers Limited availability for showings Ineffective marketing or listing pictures Most of those things didn’t matter as much just a few years ago. When inventory was at a record low, sellers could skip the prep, name their price, and still walk away with multiple offers over their asking price. But today’s market is different now that inventory has grown. And that means your approach needs to be different too. You don’t want to try out old strategies and aim too high just to see what sticks. Your first few weeks on the market are everything. That’s when your listing gets the most attention – and when pricing or presentation mistakes hurt the most. Get it wrong up front and your house will sit…and sit. Get it right, and it’ll be snatched up before you know it. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/d2e7a6d8-c5bb-4764-84b1-0b59c443fc9f/oncouchedited+cropped.jpeg BLOG - Why do some homes sell fast and others, not so much The Right Agent Helps Your House Stand Out Selling quickly isn’t about luck. It’s about knowing how to play to the market you’re in. And that’s where your agent comes in. A great agent will analyze your local market, suggest a price based on the latest comparables sold in your neighborhood, and create a marketing plan that makes buyers pay attention from day one. They’ll also walk you through any repairs you need to make or whether you need to bring in a staging company. As the National Association of Realtors (NAR) explains: “Home sellers without an agent are nearly twice as likely to say they didn’t accept an offer for at least three months; 53% of sellers who used an agent say they accepted an offer within a month of listing their home.” That’s the power of getting it right (and getting expert help) from the start. Bottom Line There are more homes for sale today, but that doesn’t have to work against you. When your house is priced right, shows well, and is marketed effectively, it will sell. Connect with an agent if you want to know how to make that happen in your market this fall. https://www.joleachman.com/blog/should-we-buy-now monthly 0.5 2025-11-20 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1763662589778-CPQY77JP8366VW5E4ZXJ/unsplash-image-8lnbXtxFGZw.jpg BLOG - Should We Buy NOW? - NATIONAL FORECAST HOUSTON (November 14, 2025) – Existing-home sales are projected to rise by around 14% in 2026, according to National Association of REALTORS® Chief Economist Lawrence Yun. Yun delivered his 2026 housing outlook today during the Residential Economic Issues and Trends Forum at NAR NXT, The REALTOR® Experience, in Houston. Yun said the expected rebound reflects easing mortgage rates, continued job gains, and improving market stability after several challenging years. Home prices are forecast to increase by 4% next year, supported by steady demand and persistent supply shortages. "Next year is really the year that we will see a measurable increase in sales," Yun said. "Home prices nationwide are in no danger of declining." Mortgage rates are projected to decline modestly, averaging around 6% in 2026. Yun emphasized that while rates are influenced by more than Federal Reserve decisions alone, broader economic factors are contributing to gradually lower borrowing costs. "As we go into next year, the mortgage rate will be a little bit better," said Yun. "It's not going to be a big decline, but it will be a modest decline that will improve affordability." https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1763662136491-5XEURUJZF6ZEI29HHF44/unsplash-image--uHVRvDr7pg.jpg BLOG - Should We Buy NOW? - AFFORDABILITY Buyers will see the greatest affordability improvements in regions where new housing supply is most robust, particularly high-construction markets like Houston. Expanding inventory in such areas will help more first-time buyers achieve homeownership. "Houston is creating more home construction, and therefore making home prices much more reasonable," said Yun. "Given the job creation, buyers will inevitably be showing up to Houston once the mortgage rate goes down." Jessica Lautz, NAR deputy chief economist and vice president of research, presented insights from the newly released 2025 Profile of Home Buyers and Sellers, highlighting how shifting demographics are reshaping today's housing market. Lautz noted that the typical age of a home buyer today is 59 and the typical age of a repeat buyer is 62. She also shared that the number one reason people move today is because they want to be closer to friends and family. "I call this the grandbaby effect," Lautz said. "This is a different type of buyer." In contrast, first-time buyers continue to face steep challenges, with the share of first-time buyers hitting an all-time low of 21% and the median first-time buyer age reaching 40. "The biggest struggle first-time buyers have is finding an affordable property, and many of them struggle to save for a down payment," said Lautz. "The biggest source of pain that they are citing is high rent and student loan debt." Despite the affordability challenges, use of real estate agents remains strong among both buyers and sellers. Lautz shared that 88% of buyers and 91% of sellers used an agent or broker in their most recent transaction. Lautz cited the value agents provide in "pricing the home competitively in a changing market, marketing that home, and finding a qualified buyer." https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1763662254360-9YIM68JSGT6NQILZC04D/unsplash-image-9cgMKmZyhH0.jpg BLOG - Should We Buy NOW? - About the National Association of REALTORS® The National Association of REALTORS® is involved in all aspects of residential and commercial real estate. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics. For free consumer guides about navigating the homebuying and selling transaction processes – from written buyer agreements to negotiating compensation – visit facts.realtor. https://www.joleachman.com/blog/baby-boomers-overtaking-millennials-the-market monthly 0.5 2025-11-20 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1744224913186-IX81I7O6KLNP41KZY817/unsplash-image-lP3Fue7Xxxk.jpg BLOG - Baby Boomers overtaking Millennials the market - What a plot twist… Americans between the ages of 60 and 78—the baby boomer generation—are commanding a sizable presence in the housing market lately, regaining their top spot as the largest share of home buyers. They accounted for 42% of buyers and 53% of sellers, the highest of any other age group, according to the National Association of REALTORS®’ newly released “2025 Home Buyers and Sellers Generational Trends Report.” They’re being motivated to buy or sell by the desire to move closer to family, friends and relatives, retirement, or wanting to downsize into a smaller home, according to NAR’s report. “In a plot twist, baby boomers have overtaken millennials—the largest U.S. population—to become the top generation of home buyers,” says Jessica Lautz, NAR’s deputy chief economist. “What’s striking is that half of older boomers and two out of five younger boomers are purchasing homes entirely with cash, bypassing financing altogether.” Indeed, they’re finding they have the equity to do it. Consider, older adults have stayed in their current homes longer than other age groups (a median of 16 years among 70- to 78-year-olds and 13 years among 60- to 69-year-olds), allowing them to ride the wave of growing home appreciation over recent years. NAR data shows that in the last five years alone, home prices nationwide have risen 47%, which has proven a boon to homeowners’ net worth. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1744225082240-JUOAYBRW2NNCNJ2LWTUK/unsplash-image-rItGZ4vquWk.jpg BLOG - Baby Boomers overtaking Millennials the market - They’ve got the equity Older adults are the most likely to leverage their equity from a previous home sale for their next home purchase, which could be helping them to better weather current high home prices and bypass elevated mortgage rates that have been blamed for delaying prospective first-time home buyers. Sixty-two percent of 70- to 78-year-olds and 53% of 60- to 69-year-olds used the proceeds from the sale of a primary residence for their next home purchase, the most common source of their down payment, according to NAR’s report. Plus, while more than 90% of buyers 44 years and younger financed their home purchase, only 49% of older baby boomers needed a mortgage to purchase their next home. Recent NAR data has shown that all-cash home sales remain at historical highs, comprising 32% of transactions in February. Having greater financial resources from the rise in home appreciation may also help explain why older buyers were the least likely age group to say they had to make any sacrifices when they purchased a home. Younger generations, on the other hand, described cutting their spending, delaying vacation plans and even getting a side hustle to afford today’s record-high home prices. Yet, while baby boomers tended to be the most confident group of home buyers, they did share some common sentiments about the housing market with other age groups: Finding the right property is a challenging step, and they need the help of a real estate agent. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1744225168740-BV66R1OXV7W4Z9V0IH61/unsplash-image-qFSQFSmfZkA.jpg BLOG - Baby Boomers overtaking Millennials the market - They need guidance on how to invest their Equity Regardless of age, real estate agents and brokers remain the top home buying and selling resource for home buyers, NAR’s report shows. “While the internet is being utilized throughout the home search, buyers continue to need the help of a real estate professional to help them find the right home, negotiate terms of sale and help with price negotiations,” the report states. “Agents remain the most used information source in the home search, followed by mobile or tablet search devices.” Buyers of all age groups said their top reasons for working with a real estate agent were to get help finding the right home to purchase, negotiating the terms of the sale and the price, and completing paperwork, NAR’s survey shows. https://www.joleachman.com/blog/where-is-the-market-now monthly 0.5 2025-01-29 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1673989732461-WOBLUS0HOCX6FROY7FGU/unsplash-image-lIvqoCl6h-A.jpg BLOG - Where is the Market now? - WHERE DID WE COME FROM? In December, the median price of all homes sold in San Diego County was $867,250, reflecting a 5.1% year-over-year increase. Although the number of sales in the last quarter was on par with the past three years, there was noticeably less market activity in terms of open housetraffic, showing requests, and offers received. December Median Home Price | All Homes San Diego 2019 2020 2021 2022 2023 2024 $575,000 $650,000 $759,000 $750,000 $825,000 $867,250 The election likely kept many buyers and sellers on the sidelines, contributing to a more hesitant environment. While home prices typically flatten or dip after the spring selling season. 2024 experienced a more pronounced decline. From June to December, home prices decreased by 6.7%, marking the second-largest drop in the past decade. The ratio of sales price to original list price steadily decreased from 100% in July to 98.4% in December, while the median days on market climbed from 9 days in May to 21 days in December. December. These shifts underscore a more tempered pace, as buyers exercised caution and sellers adjusted their expectations. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1738111309930-9QCXIMTVZJK8MEZUU0RF/unsplash-image-DZpc4UY8ZtY.jpg BLOG - Where is the Market now? - THE UNEXPECTED: NATIONAL ASSOCIATION. of REALTORS SETTLEMENT On August 17th, new procedures regarding buyer representation and commission were implemented following the landmark settlement involving the National Association of REALTORS (NAR). The changes were aimed at enhancing transparency in real estate transactions, ensuring buyers and sellers have a clearer understanding of representation agreements and their associated fees. The most dramatic change is the bifurcation of commission, meaning the seller’s agent and buyer’s agent are now compensated through separate agreements, negotiated independently. This places a greater importance on buyers having an employment contract with their agent to clearly outline their financial arrangement. Additionally, in a notable departure from past practice, the Multiple Listing Service (MLS) no longer displays offers of buyer’s agent commission. After a “sky is falling” moment, the real estate industry adjusted to its new reality. Dozens of new forms were created to clarify the rules of engagement, including a lengthy five-point disclosure that real estate agents are encouraged to present when greeting open house visitors. Despite the worst-case fear that buyers would now be on the hook to pay the entire buyer-side commission, the vast majority of sellers are still willing to consider offers in which they contribute to buyer’s agent commission. The NAR settlement triggered a seismic shift in the industry, underscoring the importance of working with full-time, professional agents who are committed to staying up-to-date with evolving regulations and best practices. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1738110103511-ESFDRL472R3NMSKNYKK8/unsplash-image-K5DY18hy5JQ.jpg BLOG - Where is the Market now? - INTEREST RATES When real estate agents weren’t freaking out over the fallout from the NAR settlement, they were celebrating the half point rate drop by the Federal Reserve in September. There were exuberant TikTok dances and many hoped that the days of 5% mortgages were on the horizon. Unfortunately, for those real estate influencers, the market had already anticipated the rate cut, meaning potential reductions in mortgage rates were already reflected in the current offerings. It serves as a valuable reminder that mortgage rates are more closely tied to movements in the bond market than to the Fed’s rate decisions. Here are various forecasts for average 2025 interest rates: Fannie Mae 6.4% Mortgage Bankers Association 6.4% National Association of Home Builders 6.36% National Association of REALTORS® 5.9% Wells Fargo 6.41% Buyers have largely come to terms with the reality of higher interest rates, adjusting their expectations and budgets accordingly. This isn't 2022, when buyers initially pre-approved at a historical low rate, were later forced to recalibrate their housing expectations after losing purchasing power as rates climbed throughout the year. Most 2025 buyers will have only experienced interest rates north of 6%. On the other hand, homeowners with pandemic-era refinance rates are far less motivated to sell, as a move-up purchase could double their current interest rate. According to the Federal Housing Finance Agency, 28.8% of California mortgage holders had interest rates below 3% as of Q3 last year—the highest percentage in the nation. These 'golden handcuffs' are a major factor to housing gridlock, as homeowners with ultra-low rates are hesitant to sell, further tightening inventory. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660966338259-079ZT4O2RLVZ02B5K2V5/B%26WhandsHoldingHome.jpeg BLOG - Where is the Market now? - INVENTORY In July 2024, San Diego's supply of unsold homes climbed to 3.2 months, its highest level since August 2019. Housing inventory in San Diego has shown a general upward trend since January 2022, when it bottomed out at 0.8 months. Even with this modest increase, 2024 inventory levels remained far below the six months typically considered a balanced market. The region has faced a chronic undersupply of housing for the past decade, driven by a combination of underbuilding, high construction costs, regulatory constraints, and geographic limitations. As expected, inventory declined in November and December due to seasonal trends and reduced seller activity during the holidays. Many sellers, particularly those with flexible timelines, often opt to wait until the new year or spring to list their homes, aiming to take advantage of heightened buyer activity and potentially higher sale prices during the peak selling season. 3,083 homes were listed in San Diego in January of this year, which is 12% more than January of 2024 (2752 listings) and 34% more than January of 2023 (2296 listings). There are currently 3,967 active San Diego listings in the MLS, a number consistent with January averages over the past five years. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1738110493522-QILEYR0FP2ME3KGRXONB/unsplash-image-9cgMKmZyhH0.jpg BLOG - Where is the Market now? - A LOOK TO THE FUTURE Expect increased activity in the housing market in 2025. Jordon G. Levine, Chief Economist of the the California Association of REALTORS projects that the number of sales of existing, single-family homes will increase by 10.5% this year. While his projection is greater than the number of actual homes sold in either 2023 and 2024, it’s lower than any year from 2013 -2022. Additionally, Levine is a projecting a 4.6% increase in California’s statewide median home price, which San Diego typically outpaces. In a recent San Diego Union-Tribune article, 13 out of 14 economists surveyed projected that San Diego County home prices would go up in 2025, with an average increase of 5.97%. Realtor.com is also optimistic about the local market and predicts a 7.3% annual appreciation for San Diego. We’re forecasting a more modest 3-4% gain in home prices for 2025. The median sales price in January for all homes in San Diego County was $900,000, which represents an 8.4% year-over-year increase. We expect to see an active real estate spring, starting in February, but not as frenzied as the past few years. Two significant unknowns that could shape the San Diego housing market in 2025 are the impact of the recent LA wildfires on local housing demand and the short-term effects of the new presidential administration. We’ll send another 'State of the Market' update over the summer, which may provide more concrete data and insights into how these factors are influencing the market.. While we’ve provided an overarching perspective on the San Diego housing market, applying these trends to your unique situation requires a more personalized approach. Reach out any time—Whether you’re wondering about what these numbers mean for your home’s value, exploring buying opportunities, or planning your next move, we’re here to help. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1738110729595-SQ2QNJL4XHLE7PGD0U8K/unsplash-image-BGXhuJIbx78.jpg BLOG - Where is the Market now? - We’re committed to providing the tailored guidance and insights you need to navigate 2025 with confidence. https://www.joleachman.com/blog/thinking-of-renovating monthly 0.5 2025-01-27 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1680039697346-OP8QB9VM5KEI4K9VF0BX/Screen+Shot+2023-03-28+at+2.41.25+PM.png BLOG - Thinking of Renovating? - HAVE TO HAVE 3 OVENS AND A ZEN GARDEN? The first step in any renovation is to identify the essentials, what’s definitively required, then make a second wish list of nice-to-haves. Be honest. Having this agreed upon prior to starting takes a lot of stress out of the process. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1738014903847-52UF5XZYCMDWZHJ0HPIR/unsplash-image-jLjfAWwHdB8.jpg BLOG - Thinking of Renovating? - NOBODY APPRECIATES INSULATING THE HOUSE AND THEN PAYING FOR THE TEAM TO COME BACK TOGETHER TO INSULATE THE GARAGE 6 MONTHS LATER. Doing things all at once is more efficient than doing different projects piecemeal. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1738014283491-FY9NMRRDUAAM5HYJITHH/unsplash-image-8lnbXtxFGZw.jpg BLOG - Thinking of Renovating? - KNOW WHAT THE TOTAL PICTURE IS AND GIVE YOUR BUDGET A CONTINGENT OF AT LEAST 10% Contractors typically charge 10-20% of the overall cost of the project. Architects bill 8-20% on top of the total project budget. Know what the pro's charge and at what level. Will you need to live somewhere while renovating? Add that to your budget... https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1738014383242-A4BQ7QHISROD3DRH64CA/unsplash-image-GDWmu0bFfS4.jpg BLOG - Thinking of Renovating? - DIY? WHAT COULD YOU DO YOURSELF WITHOUT SACRIFICING QUALITY? And, let’s be real-do you have the time in your calendar to devote to doing it without taking away from your normal family life? https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1738014527692-R600MKAXWMXCGASFWOA2/unsplash-image--uHVRvDr7pg.jpg BLOG - Thinking of Renovating? - HIRE THE RIGHT TEAM/PEOPLE WITH GOOD, RECENT REFERENCES. CHEAP CAN BE EXPENSIVE. A combination of a shared vision, experience and knowledge of the latest materials and sources for the materials… https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1738014715076-AZYPBJBS3RE62PRMSWMV/unsplash-image-dSRhwPe6v9c.jpg BLOG - Thinking of Renovating? - ASK FOR A REALTOR’S HELP… Evaluate the cost of the renovation versus a move or rebuilding from scratch-start with average per square foot pricing in your area and the cost of moving. https://www.joleachman.com/blog/presidential-elections-have-no-bearing-on-home-sales monthly 0.5 2024-07-30 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1722372775616-ZZ0FFZ97NUIYNDUJO0NG/unsplash-image-AT77Q0Njnt0.jpg BLOG - Presidential Elections have no bearing on home sales… - A Long Held Myth BUSTED… Key takeaways: The annual seasonal decline in home sales is no worse in election years than in non-election years, according to 35 years of data. Greater-than-expected seasonal declines in home sales mostly reflect poor economic conditions (recessions or other downturns). Ignore the loudest voices in the room: home purchases are usually life decisions rather than political ones. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1722372953570-B0ZZM7KT5JDAVTIQ9KJT/unsplash-image-vnfyiXo0BR8.jpg BLOG - Presidential Elections have no bearing on home sales… - Presidential elections have little impact on home sales in the 5 months leading up to elections Every 4 years, we and our clients are inundated with anecdotes about potential homebuyers who claim to be putting their home purchase decision on hold until after an upcoming election. Political uncertainty and negative campaigning undoubtedly weigh on consumer confidence, as evidenced by work from researchers at the University of Chicago. But do these potential buyers have any bearing on overall home sales? We have found that this type of buyer is the exception rather than the rule. To assess the impact of presidential elections on home sales, we compared the non-seasonally adjusted, year-over-year change in new and existing home sales in the 5-month period* leading up to November (the month an election is held during an election year). We found the following: In non-election years, new home sales decline by -14% on average, and existing home sales decline by -22% on average. In election years, new home sales decline by -10% on average, and existing home sales decline by -19% on average. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/4bafc32c-b0d9-4041-9407-c8b2166f1eeb/Screenshot+2024-07-30+at+2.02.21%E2%80%AFPM.png BLOG - Presidential Elections have no bearing on home sales… - Stop Blaming the Election Presidential elections have little impact on home sales in the 5 months leading up to elections This graph visualizes the lack of relationship between home sales and presidential election years. We find: 3 elections where home sales fell less than seasonally expected: 1992, 2004, and 2020 3 elections where home sales fell in line with seasonal expectations: Home sales appeared normal in 1996, 2012, and 2016. 2 elections where home sales fell more than seasonally expected: The lead up to the elections of 2000 (Bush vs. Gore) and 2008 (Obama vs. McCain) both coincided with recessions, which caused home sales to decline more drastically than normal. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1722373495899-J3B657WHINPSTBZU9WDM/unsplash-image-DZcZ4Kskq6U.jpg BLOG - Presidential Elections have no bearing on home sales… - A lagging economy or personal circumstances have more to do with slowing home sales… Be wary of extrapolating broader trends from anecdotes—the data just doesn’t back it up. Researchers from the University of Chicago found that elections influence consumer sentiment much more significantly than consumer spending. Our analysis of home sales in the months leading up to the presidential election supports this finding. In fact, our New Home Trends Institute finds that just 8% of consumers claim to be deferring their home purchase specifically due to the presidential election (and this is likely an overstatement). Put another way, we find that 92% of consumers are not postponing a home purchase due to the presidential election. https://www.joleachman.com/blog/0-financing-is-back monthly 0.5 2024-06-04 https://www.joleachman.com/blog/house-guest-season-is-here monthly 0.5 2024-05-29 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1e8fc022-9c55-451d-8752-8715e7f48f2e/cookbook+cover.jpg BLOG - House Guest Season is Here…. - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/af66d566-6881-4e7b-9243-efe1764e1dc3/qrcode_www.compass.com.png BLOG - House Guest Season is Here…. - Make it stand out Scan this code and you will have the entire cookbook in a “flip book” format…just click on the arrows and the page will turn for you. (no signing up for an account or any of that nonsense). HAVE FUN! https://www.joleachman.com/blog/changes-in-service-from-major-insurance-carriers monthly 0.5 2023-08-16 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1686169752847-53U4V0X08M73UKVXITFQ/image-asset.jpeg BLOG - NO NEW HOMEOWNER INS. COVERAGE OFFERED FROM STATE FARM AND ALLSTATE - It just LOOKS like they are leaving… State Farm and Allstate are not leaving the California Insurance Market: State Farm and Allstate will continue to service and renew policies of existing clients in the state and will continue to offer new auto insurance policies. However, they will not be issuing any new property insurance policies for the time being in California. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1686169908143-DYVQ9X032J6293B6KCWF/image-asset.jpeg BLOG - NO NEW HOMEOWNER INS. COVERAGE OFFERED FROM STATE FARM AND ALLSTATE - What IS happening??? Why did State Farm and Allstate stop issuing new policies? State Farm stated that it made the decision “due to historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market.” Allstate said the company "paused" its offerings "so they can continue to protect current customers." State Farm and Allstate's decision is not necessarily an indication of what other companies will do. Will more companies follow State Farm and Allstate's move? There are still a wide range of companies writing policies in California. However, those willing to write new policies in higher risk areas in particular are declining and as stated above, with the departure of State Farm and Allstate, those in more high-risk areas may have no option than the FAIR plan. What are the implications of the decision for prospective homebuyers? In certain high-risk areas of the state, there are very few insurance companies willing to write new policies. In some higher risk areas, State Farm was the last private insurance company writing policies. In those areas, unless the Insurance Commissioner is successful in its effort to get more private insurers to write policies in such areas, the generally more-costly California FAIR plan may end up being the only property insurance available. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1686170343368-QCEFZOT5XV8W2D14F40B/image-asset.jpeg BLOG - NO NEW HOMEOWNER INS. COVERAGE OFFERED FROM STATE FARM AND ALLSTATE - What are the MAIN problems for the insurance market in California? The California market is heavily regulated and has various strict requirements for rate increases, which were put into place by Proposition 103 in 1988. However, there are two areas where possible changes could result in a better climate for insurance without requiring major changes to consumer-friendly rate increase requirements. Those include allowing insurance companies to have rates that better reflect their reinsurance costs and allowing insurance companies to utilize forward looking risk models. Current law only allows companies to look back when setting rates. However, given the issues with climate change, many insurance companies argue that looking backward does not allow companies to adequately capture risk. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1686170154581-Y7QT1NOZRMSSO7P9TGOQ/image-asset.jpeg BLOG - NO NEW HOMEOWNER INS. COVERAGE OFFERED FROM STATE FARM AND ALLSTATE - HELP? The California Dept. of Insurance provides several information guides, tips and tools to help understand home/residential insurance so that we can make the best decision for our situation. They can also call the California Dept. of Insurance Consumer Hotline for assistance. https://www.joleachman.com/blog/saving-the-boathouses monthly 0.5 2023-06-01 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1685643683470-3SKK9MQ5B5XPZRGCLL6U/image-asset.jpeg BLOG - SAVING THE BOATHOUSES OF ENCINITAS - Make it stand out SOURCE: Los Angeles County Real Estate Investors Association (https://lareic.com) newsletter of Monday, May 29TH lloydsegal@msn.com. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/8ba9199e-d56a-4fe1-99b7-493a4f022973/Screen+Shot+2023-06-01+at+11.29.03+AM.png BLOG - SAVING THE BOATHOUSES OF ENCINITAS - Make it stand out The famous boathouses of Encinitas (photo was uncredited in original article) https://www.joleachman.com/blog/making-peace monthly 0.5 2023-03-28 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/d31d7cac-ca2b-4a03-b961-2f9537624879/Screen+Shot+2023-03-28+at+2.29.13+PM.png BLOG - Making Peace - PLANNING “Planning outdoor space is much like planning indoor space in the sense that you’re trying to create functional, practical environments that are also beautiful. So, proportion and balance are key,” he says. “Tokyo gardens, for example, can be tiny and surrounded by apartment blocks yet exude serenity when the landscaping elements have been pared back to a minimum and then artfully balanced.” For this city garden, Gomme was approached by architect Giles Lovegrove who had designed a striking modern extension to the typical Victorian four-story townhouse in Hammersmith. “I hoped to create a space that was modern and tranquil,” says Gomme. “The clients both work in demanding careers and have teenage daughters, so the garden needed to function as a breakout area for dining and entertaining as well as somewhere to unwind and escape the pressures of everyday life.” https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/f5bfb3fe-26f3-4385-bacf-850eb4847962/Screen+Shot+2023-03-28+at+2.30.59+PM.png BLOG - Making Peace One of the most impressive architectural features is a two-story strip of glazing that slices through the back wall and makes the garden dramatically present to the main rooms of the house. “I like to make explicit visual connections between the architecture and the garden when I can,” he says. “In this case, I drew lines out from Giles’s glazing and used these lines to help me structure the space.” Gomme also designed a pair of water features to echo the glazing in liquid form. “Water is a lovely element to use in the garden. I think we are instinctively drawn to water; our oldest settlements are by rivers and shores, and spas and hot springs are considered therapeutic. In an urban setting, water is great at canceling out background noise and instantly takes the edge off stress, so it is an invaluable element in making the home feel calm,” he says. As a fan of Japanese garden design, Gomme borrowed and adapted elements he saw in Japan like the vertical cedar slats of the fencing typically seen as cladding on traditional houses. “It is very linear and graphic,” he explains. “Here I used it as a fence with recessed LED strip lighting beneath some sections to emphasize the linear theme at night. Linear repetition creates a consistent backdrop for plants to stand out.” Plants from Japan that work well in London include lush Hakonechloa grass and the big pom poms of Hydrangea macrophylla. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/c183d8a8-2f6a-45ea-b7f2-9bf0afa1ffce/Screen+Shot+2023-03-28+at+2.32.26+PM.png BLOG - Making Peace If he had to define the style of the garden, Gomme would call it “Anglo-Japanese, London meets Tokyo,” as he tried to fuse ideas from both places. Because the home is visible from dozens of neighboring windows in other Victorian houses, introducing a grid of ornamental Japanese cherry trees and Kousa dogwood (Cornus kousa) created a canopy of foliage that screens the line of sight and provides privacy so the outdoor space feels intimate. Divided into three connected areas, the garden features a polished concrete patio for outdoor dining that matches the polished concrete floor of the home’s eat-in kitchen, a central hardwood deck, and a slate patio. Each zone has built-in seating that maximizes space and adds structure. These seating areas—two of which face water features—also create destinations to savor different views. Peaceful outdoor spaces in urban settings can provide escapes from the daily grind. “City life is great. I’ve lived my whole life in cities. They have dynamism and energy,” says Gomme. “But they can be busy, polluted, and exhausting. City gardens are an antidote. Get it right and you don’t need to travel far to unwind. It’s all there in your home.” https://www.joleachman.com/blog/ca-laws-re-building-adus-taking-affect-january-2023 monthly 0.5 2023-01-17 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1673989732461-WOBLUS0HOCX6FROY7FGU/unsplash-image-lIvqoCl6h-A.jpg BLOG - CA LAWS re: building ADUs taking affect January, 2023 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.joleachman.com/blog/condo-or-townhouse monthly 0.5 2023-03-09 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1673395623674-5674QIY4G4IBC91VM6YP/unsplash-image-ZXZ7t7TneQs.jpg BLOG - Condo or Townhouse? - Townhouse/home definition Townhouse/Townhome means a single-family dwelling in a row of at least three attached units, but no more than 7, whereby each unit has its own front and rear access to the outside. No unit shall be located over another unit and each unit shall be separated from other units by one or more vertical common firewalls. The owner is responsible for payment of all maintenance and repairs of the property. If you buy a townhouse, you’ll own the interior and exterior of the unit and the land on which it sits. Upkeep of the exterior could be split between you and the HOA, if ones exists. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087750351-42NJBTBIH12ITMPTXILC/backyardtohouse+%282%29.jpg BLOG - Condo or Townhouse? - Condo definition Condominium means a common interest community in partially owned separately (the living unit) , the rest is common ownership. The common area can only be owned by those who own the separate portions. A common interest community is not a condominium unless the undivided interests in the common elements (pool, entry, landscaping, gate, park, clubhouse, etc.) are vested in the unit owners who pay homeowners association (HOA) dues to support those shared assets. If you buy a condo, you’ll own your interior space only. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1673396576720-MVRJOZB0Z3KKZHLO6BLG/unsplash-image-miWGZ02CLKI.jpg BLOG - Condo or Townhouse? - The differences Structure A townhouse will share at least one wall with a property next door-but will not have another sit on top of it. A condo could have another unit below and above it, in addition to neighbors on either side. That could mean sharing all surrounding walls and floors/ceilings. Practical Ownership Townhome: Owner owns the land and the structure. This allows the owner to do as they wish with the lot or the home’s exterior. Condos: the owner owns the interior of the unit and an interest in the common assets of the condominium project. All other owners have an equal share, so any changes come through the HOA CC&Rs. Homeowners Associations Some townhouse communities have an HOA for common areas such as driveways, entries, etc. Since the owner owns the land and is required to take care of their own repairs, the fees are lower. Condos: The areas of common interest are regulated by an HOA. While there is a board of director from the residents, most HOAs have regulations that lay out the requirements of a larger vote required for the macro plan like changes in HOA fees or penalties, architectural changes and special assessments for larger repairs. The HOA also enforces its covenants, conditions, and restrictions (CC&Rs). Knowing the health of the management company handling the administration of collecting the fees and paying the approved bills is important. Making sure the annual financials are obtainable and up to date is an important early step in the process of buying into an HOA based community. Obligations and Regulations Townhome owners may not have an HOA-so they are free to paint their home purple if they are Prince fans. Condo owners will be required to meet all HOA standards. That could dictate anything from what residents want to hang on their doors to whether they can have pets, how many, and size, renovations, colors of paint for their exteriors, etc.. Insurance Condos have their own form of property insurance. The homeowner’s policy covers the interior of a condo and the owner’s personal belongings. The HOA policy covers the building, roof-any common interest area. Townhouses work much like a single family home if there is no HOA. Lending Lenders of conventional loans will review the financial health of an HOA as its efficiency affects the value of the property, more so with a Condo. (The FHA and VA have lists of approved commonly owned properties.) The value of the land is taken into consideration with a Townhouse, so there will be a lot more variety in loans available…like for a single family home. https://www.joleachman.com/blog/financing-for-first-time-home-buyers monthly 0.5 2022-12-11 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1670792852945-QE8CQW96XKHEH2WDYJ7A/unsplash-image-MbG7kwWptII.jpg BLOG - Don’t let Financing Scare You Off… - Make it stand out Financing Help For First Time Home Buyers (including those who have owned but not for the last 3 years) https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1670791995479-DMGQOGGQWGL5OR7OVOS9/unsplash-image-K5DY18hy5JQ.jpg BLOG - Don’t let Financing Scare You Off… - Downpayment Assistance Down payment assistance programs (DPAs) include loans and grants that can help with upfront and closing costs. They’re primarily geared toward first-time homebuyers. You’ll find thousands of DPAs throughout the country, most of which are run by state or not-for-profit organizations. Some private lenders also offer them, though. Eligibility for a DPA varies by state. In most cases, you’ll need to be a first-time homebuyer, meet certain income requirements, and use the property as your primary residence. You may also need to go through a certain type of mortgage lender or home loan program. Many programs also require a minimum credit score of 620. DPAs come in several forms, including: Cash grants Forgivable or deferred loans Lender credits Low-interest loans https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1670792218158-P8ZK31W4RDXU6Y1OTJXR/unsplash-image-5HdF3ugOSxM.jpg BLOG - Don’t let Financing Scare You Off… - State Program for First Time Homebuyers As a first-time homebuyer, you have access to many state-wide programs, resources and incentives. This includes state housing finance agency programs like: California Housing Finance Agency (CalHFA): This agency mainly helps first-time buyers in California with their down payment and closing costs. North Carolina Housing Finance Agency (NCHFA): The NCHFA offers down payment assistance, fixed-rate mortgage loans and tax credits to first-time buyers in North Carolina. The National Council of State Housing Agencies has a list of every state’s agency, as well as its first-time homebuyer qualifications and benefits. The most common benefits include tax credits, down payment and closing fee assistance, and low-interest mortgage loans. Keep in mind that each agency has its own requirements for income, credit score, DTI and other criteria. https://www.joleachman.com/blog/y84n6dz0295gsr0jqkzbwt6f56buxk monthly 0.5 2022-11-17 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660239218245-2UYD734NJ86WXX0KTGGW/Screen+Shot+2022-08-11+at+10.33.12+AM.png BLOG - Transfer on Death Deed - THIS ONE EASY STEP COULD SAVE YOU TIME AND MONEY File a Transfer on Death Deed here: https://arcc.sandiegocounty.gov/content/arcc/home/forms While a TOD deed is attractive because of its simplicity and inexpensiveness, there are specific limiting criteria and procedural requirements for TOD deeds. First and foremost, there are limitations on the type of property that can be transferred through this deed. Only the following are covered: 1) A single-family home or condominium unit, 2) A single-family residence on agricultural property of 40 acres or less, or 3) A residence with no more that four residential dwelling unit.While a TOD deed is attractive because of its simplicity and inexpensiveness, there are specific limiting criteria and procedural requirements for TOD deeds. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1666726515985-Q56ZN4LX2PBH5IHGSIWJ/unsplash-image-PXB7yEM5LVs.jpg BLOG - Transfer on Death Deed - Effects of Recording this Deed: • Not reassessable upon recordation, saving new Deed holder from rise in prop tax • The interest in the real property only transfers when the transferor dies. Then the property is reassessed per the date of death, unless an exclusion applies. • The beneficiary identified on the TOD deed does not have any rights to the real property when the transferor is alive. Furthermore, creditors of a named beneficiary cannot place any liens on the property. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1666726751326-FJP6VAQPRCA87ZB3MH16/unsplash-image-7okkFhxrxNw.jpg BLOG - Transfer on Death Deed - PROs of a TOD • Fast, simple, and very inexpensive • Protects property from probate as long as the beneficiary does not predecease the grantor • It is fully revocable during the transferor’s lifetime • Permits the transferor to retain full ownership of the property during his/her/they lifetime, instead of adding the beneficiary as a joint tenant and making him/her/them an immediate owner • The recoding of a TOD is not a taxable event. https://www.joleachman.com/blog/practical-home-info monthly 0.5 2023-03-09 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/de962179-901e-4ef7-92dd-0bbff3144ce8/Screen+Shot+2022-11-17+at+1.33.55+PM.jpg BLOG - Practical Home Sale Info - Have You Checked Your Title lately? A lien on your Title can be placed without your knowledge. This can happen with a contractor who thinks you still own him/her money…or maybe they put a lien on but you paid it but they did not clear it. Other very common ones are: a claim of back owed child support payments or a final divorce decree that was not recorded with the County. Most are easy to clear but they can cause delays in the transaction, so why not save your self some stress and do it now? https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1668719944941-FXTEH6LKOTHF3669RW4B/unsplash-image-dSRhwPe6v9c.jpg BLOG - Practical Home Sale Info - Disclosure is extremely important… get the info Buyers will need How Long Will the Mello Roos fees continue? Start here: www.co.sandiego.ca.us/auditor Click on “Services” Click on “View fixed charges” Call the phone number (s) next to the fee you are investigating. Provide the “fund” number to the left of the description to get the maturation date. These fees normally mature in 30 years from the development date (as opposed to “year built” date.) TIP: Property Owners can pay it off early. https://www.joleachman.com/blog/getting-your-house-ready-to-sell monthly 0.5 2022-09-22 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/686a5ac3-9000-41b6-b3e9-3a3467ed7d69/unsplash-image-m4GbgHAWNCI.jpg BLOG - Getting Your House Ready To Sell? - Make it Stand Out Since the supply of homes for sale has increased so much this year, today’s buyers have more options than they had last year. That may mean you’re not able to ignore some of those repairs or cosmetic updates you could have skipped in previous months. As a recent article from realtor.com says: “To stand out in the market, sellers should make their home attractive to buyers, which usually means some selective updates.” The key word here is selective. Since it’s still a sellers’ market, focusing on a few key areas may be enough to make your house stand out from other options. And since inventory is still low overall, it’s also possible buyers may be willing to handle the renovations themselves once they move in. It all depends on buyer demand and the available inventory in your local area. For advice on what’s happening in your market and what to do to make your house show well, lean on a professional. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/373174a6-55d3-4511-9701-bb10d9aea1f1/ROI+repairs.png BLOG - Getting Your House Ready To Sell? - Not All Renovation Projects Are Equal In addition to making sure your house makes a good first impression, you’ll also want to consider the return on your investment (ROI) for any renovations. According to the 2022 Remodeling Impact Report from the National Association of Realtors (NAR), here are the projects that could net you the best return when you sell your house https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1663017355334-YS9R4JI07K6SMBE1EVGV/unsplash-image-JaoVGh5aJ3E.jpg BLOG - Getting Your House Ready To Sell? - Your Realtor Knows What’s Working Now When your agent comes to your house for a walk-thru and consultation, they’ll use their expertise to offer any insight into what you may need to repair, replace, or refinish. They also know what other sellers are doing before listing their homes and how buyers are reacting to those upgrades to help steer you in the right direction. As Dr. Jessica Lautz, Vice President of Demographics and Behavioral Insights for NAR, explains: “This year, the winner was hardwood flooring. Hardwood floor refinishing and putting in new wood flooring had the most significant value”. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1663017850627-W37HI08TYORAJDNUN8XO/unsplash-image-VsEKvmOkS3M.jpg BLOG - Getting Your House Ready To Sell? - How to Draw Buyer Attention to the Upgrades For any projects you’ve already completed or for those you plan to do before listing, make sure your real estate professional knows. They’re not just an advisor to help you decide where to focus your efforts, they’re also skilled at highlighting any upgrades in your listing. That way, potential buyers know about the features that may help sell them on the house. Every home is different, so a conversation with your agent is mission-critical to make sure you make the right moves when selling this season. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1663017781034-TESU6C71F7VFRQKFBRFW/unsplash-image-I3HPUolh5hA.jpg BLOG - Getting Your House Ready To Sell? - Bottom Line: In today’s shifting market, it’s important to spend your time and money wisely when you’re getting ready to move. Let’s connect to find out where to focus your efforts before you sell. https://www.joleachman.com/blog/923xwjgjkccaa06i5hsxwvdre5r0mu monthly 0.5 2022-09-03 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/a8f988a9-b1c0-479b-b16c-9581748283e9/September%25202022%2520-%2520MVP%2520-%2520Blog%2520Post%2520Image.jpg BLOG - Strategies to Get the Best Mortgage Rates - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/b4a8784b-e73a-41eb-94be-2067ce5bc780/Screen+Shot+2022-09-03+at+11.23.15+AM.png BLOG - Strategies to Get the Best Mortgage Rates - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1662229677655-4KRY9YAZ0TO8D1S9YCOT/unsplash-image-wgcUx0kR1ps.jpg BLOG - Strategies to Get the Best Mortgage Rates - Raise Your Credit Score 1. Raise your credit score. Borrowers with higher credit scores are viewed as “less risky” to lenders, so they are offered lower interest rates. A good credit score typically starts at 690 and can move up into the 800s. If you don’t know your score, check with your bank or credit card company to see if they offer free access. If not, there are a plethora of both free and paid credit monitoring services you can utilize. If your report shows an old debt that has not cleared or your credit score is lower than you think it should be, you can take steps to improve it, including: Correct any errors on your credit reports, which can bring down your score. You can access reports for free by visiting AnnualCreditReport.com. Pay down revolving debt. This includes credit card balances and home equity lines of credit. Avoid closing old credit card accounts in good standing. It could lower your score by shortening your credit history and shrinking your total available credit. Make all future payments on time. Payment history is a primary factor in determining your credit score, so make it a priority. Limit your credit applications to avoid having your score dinged by too many inquiries. If you’re shopping around for a car loan or mortgage, minimize the impact by limiting your applications to a short period, usually 14 to 45 days. Over time, you should start to see your credit score climb — which will help you qualify for a lower mortgage rate. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1662230077528-DOQSM4T17C96T0B5K64F/unsplash-image-ocb4ft1qyjA.jpg BLOG - Strategies to Get the Best Mortgage Rates - Keep Steady Employment If you are preparing to purchase a home, it might not be the best time to make a major career change. Unfortunately, frequent job moves or gaps in your résumé could hurt your borrower eligibility. When you apply for a mortgage, lenders will typically review your employment and income over the past 24 months. If you’ve earned a steady paycheck, you could qualify for a better interest rate. A stable employment history gives lenders more confidence in your ability to repay the loan. That doesn’t mean a job change will automatically disqualify you from purchasing a home. But certain moves, like switching from W-2 to 1099 (independent contractor) income, could throw a wrench in your home buying plans. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1662230151368-RJ76ZYP2KCR178S8U31I/unsplash-image-cjeThQtJpaw.jpg BLOG - Strategies to Get the Best Mortgage Rates - Lower Your Debt to Income ratios Even with a high credit score and a great job, lenders will be concerned if your debt payments are consuming too much of your income. That’s where your debt-to-income (DTI) ratios will come into play. There are two types of DTI ratios: Front-end ratio — What percentage of your gross monthly income will go towards covering housing expenses (mortgage, taxes, insurance, and dues or association fees)? Back-end ratio — What percentage of your gross monthly income will go towards covering ALL debt obligations (housing expenses, credit cards, student loans, and other debt)? What’s considered a good DTI ratio? For better rates, lenders typically want to see a front-end DTI ratio that’s no higher than 28% and a back-end ratio that’s 36% or less. If your DTI ratios are higher, you can take steps to lower them, like purchasing a less expensive home or increasing your down payment. Your back-end ratio can also be decreased by paying down your existing debt. A bump in your monthly income will also bring down your DTI ratios. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1662230372587-BV03BBZ0QUIIT07HWQKK/unsplash-image-lCPhGxs7pww.jpg BLOG - Strategies to Get the Best Mortgage Rates - Increase Your Downpayment Minimum down payment requirements vary by loan type. But, in some cases, you can qualify for a lower mortgage rate if you make a larger down payment. Why do lenders care about your down payment size? Because borrowers with significant equity in their homes are less likely to default on their mortgages. That’s why conventional lenders often require borrowers to purchase private mortgage insurance (PMI) if they put down less than 20%. A larger down payment will also lower your overall borrowing costs and decrease your monthly mortgage payment since you’ll be taking out a smaller loan. Just be sure to keep enough cash on hand to cover closing costs, moving expenses, and any furniture or other items you’ll need to get settled into your new space. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1662230539922-E7DBDUSDUXP1N5L1OUHI/unsplash-image-VHNLKLNlCA8.jpg BLOG - Strategies to Get the Best Mortgage Rates - Compare Loan Types All mortgages are not created equal. The loan type you choose could save (or cost) you money depending on your qualifications and circumstances. For example, here are several common loan types available in the U.S. today: Conventional — These offer lower mortgage rates but have more stringent credit and down payment requirements than some other types. FHA — Backed by the government, these loans are easier to qualify for but often charge a higher interest rate. Specialty — Certain specialty loans, like VA or USDA loans, might be available if you meet specific criteria. Jumbo — Mortgages that exceed the local conforming loan limit are subject to stricter requirements and may have higher interest rates and fees. When considering loan type, you’ll also want to weigh the pros and cons of a fixed-rate versus variable-rate mortgage: Fixed rate — With a fixed-rate mortgage, you’re guaranteed to keep the same interest rate for the entire life of the loan. Traditionally, these have been the most popular type of mortgage in the U.S. because they offer stability and predictability. Adjustable rate — Adjustable-rate mortgages, or ARMs, have a lower introductory interest rate than fixed-rate mortgages, but the rate can rise after a set period of time — typically 3 to 10 years. According to the Mortgage Bankers Association, 10% of American homebuyers are now selecting ARMs, up from just 4% at the start of this year. An ARM might be a good option if you plan to sell your home before the rate resets. However, life is unpredictable, so it’s important to weigh the benefits and risks involved. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1662230748670-JI682AM62T9LQJQDI8IQ/unsplash-image-mBRtqyC_Iq0.jpg BLOG - Strategies to Get the Best Mortgage Rates - Shorten Your Mortgage Term A mortgage term is the length of time your mortgage agreement is in effect. The terms are typically 15, 20, or 30 years. Although the majority of homebuyers choose 30-year terms, if your goal is to minimize the amount you pay in interest, you should crunch the numbers on a 15-year or 20-year mortgage. With shorter loan terms, the risk of default is less, so lenders typically offer lower interest rates. However, it’s important to note that even though you’ll pay less interest, your mortgage payment will be higher each month, since you’ll be making fewer total payments. So before you agree to a shorter term, make sure you have enough room in your budget to comfortably afford the larger payment. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1662231028033-T10EPQWA87I7JEA6P2RU/unsplash-image-PXB7yEM5LVs.jpg BLOG - Strategies to Get the Best Mortgage Rates - Get Quotes From Multiple Lenders When shopping for a mortgage, be sure to solicit quotes from several different lenders and lender types to compare the interest rates and fees. Depending upon your situation, you could find that one institution offers a better deal for the type of loan and term length you want. TIP: Running your credit too often can hurt your credit score. Make sure you ask the lender not to run your credit until you commit to his product. You can run a credit report yourself and share the first page with them so that they can give you an idea of what they can offer based on that. Some borrowers choose to work with a mortgage broker. Like an insurance broker, they can help you gather quotes and find the best rate. However, if you use a broker, make sure you understand how they are compensated and contact more than one so you can compare their recommendations and fees. Don’t forget that we can be a valuable resource in finding a lender, especially if you are new to the home buying process. After a consultation, we can discuss your financing needs and connect you with loan officers or brokers best suited for your situation. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1662231287505-DALUKBJKHP9N73ZPKX3M/unsplash-image-LvySG1hvuzI.jpg BLOG - Strategies to Get the Best Mortgage Rates - Consider Buying Mortgage Points Even if you score a great interest rate on your mortgage, you can lower it even further by paying for points. When you buy mortgage points — also known as discount points — you essentially pay your lender an upfront fee in exchange for a lower interest rate. The cost to purchase a point is 1% of your mortgage amount. For each point you buy, your mortgage rate will decrease by a set amount, typically 0.25%. You’ll need upfront cash to pay for the points, but you can more than make up for the cost in interest savings over time. However, it only makes sense to buy mortgage points if you plan to stay in the home long enough to recoup the cost. You can determine the breakeven point, or the period of time you’d need to keep the mortgage to make up for the fee, by dividing the cost by the amount saved each month. This can help you determine whether or not mortgage points would be a good investment for you. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1662231522369-XWHGT28LAK0A7KIS8LTK/unsplash-image-Ta_73_AdKqU.jpg BLOG - Strategies to Get the Best Mortgage Rates - Getting Started Unfortunately, the rock-bottom mortgage rates we saw during the height of the pandemic are behind us. However, today’s 30-year fixed rates still fall beneath the historical average of around 8% — and are well below the all-time peak of 18.45% in 1981. And although higher mortgage rates have made it more expensive to finance a home purchase, they have also eliminated some of the competition from the market. Consequently, today’s buyers are finding more homes to choose from, fewer bidding wars, and more sellers willing to negotiate or offer incentives such as cash toward closing costs or mortgage points. If you’re ready and able to buy a home, there’s no reason that concerns about mortgage rates should sideline your plans. The reality is that many economists predict home prices to continue climbing. So you may be better off buying today at a slightly higher rate than waiting and paying more for a home a few years from now. You can always refinance if mortgage rates go down, but you can’t make up for the lost years of equity growth and appreciation. If you have questions or would like more information about buying or selling a home, reach out to schedule a free consultation. We’d love to help you weigh your options, navigate this shifting market, and reach your real estate goals! https://www.joleachman.com/blog/home-equity-playbook monthly 0.5 2022-08-20 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/e781fddd-bb6c-4674-aa05-ae3f0ed66535/PA+-+October+2016+-+Digital+Marketing+Campaign+-+Social+Media+Image.jpg BLOG - Home Equity Playbook - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660964967646-GDNM8DP4RAB6PGSAYUGL/unsplash-image-Zyx1bK9mqmA.jpg BLOG - Home Equity Playbook - Creating Value is in Your Hands Maintaining the condition of a home is vitally important to retaining and increasing value. Homes are judged against their peers: how they compare to similar homes in the neighborhood. Another way to retain value is to not over upgrade, since it is rare to ever recoup the money spent if you exceed neighborhood value. Keep up the landscaping and do the little things to add curb appeal. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660965089271-J7RECLUEWP6XJ516JU2F/unsplash-image-376KN_ISplE.jpg BLOG - Home Equity Playbook - Putting Home Equity to Work Home equity represents the largest single asset of millions of people, and because it represents so much of an individual’s net worth, it must be treated with respect. Home equity is not a liquid asset until a property is sold, or it is borrowed against. There are two types of loans that tap into homeowner equity as collateral. Home Equity Loans Many home equity plans set a fixed period during which the person can borrow money, such as 10 years. At the end of this “draw period,” the person may be allowed to renew the credit line. If the plan does not allow renewals, the homeowner will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period, for example, of 10 years. A home equity loan, sometimes called a second mortgage, usually has a fixed rate and a set time to pay it back, generally with equal monthly payments. Home Equity Line of Credit A home equity line of credit is similar to a credit card. The lender sets a maximum amount you can borrow, and you can draw money as you need it, though many home equity lines of credit require an initial draw. The interest rate varies daily, and is usually prime plus a set number, but the required payment is usually interest only. Once the loan has been paid down, the payment is reduced, and it can be paid off and initiated as many times as a homeowner requires. How Much Equity Can Be Accessed? Since the financial institution is lending money and using a home as collateral, they will not lend 100% of the home’s equity. The bank does not want to take the risk that if the house price drops, they would be carrying a loan for more than its market value. Therefore, most banks will allow a qualified homeowner to borrow approximately 80% of their equity. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660965285782-OHWB8V4TOM33LC7LPZ4Z/unsplash-image-7okkFhxrxNw.jpg BLOG - Home Equity Playbook - It’s Important to Use Your Home Equity Wisely Because it is likely the biggest asset most people have, losing your home equity is hard to overcome. It must be used in prudent ways, and the payments against the loan must be affordable. Using equity money to make the loan payment is only acceptable for a short-term solution. There are number of good reasons to use money from a home equity loan… and some really bad ones. First, let’s cover smart uses. 1. Invest in Your Home The best way to use the money is create more equity in the home. Among the very best returns on your investment (ROI) include kitchen and bathroom remodels, adding square footage or an extra bath, enhancing curb appeal and repairing/keeping the existing structure sound. Making prudent investments in your home is a wonderful win-win: you enjoy the upgrades and the repairs can add value to the home. 2. Invest in your Children’s Education Using your home equity to finance a child’s higher education may be the greatest payoff of all. Not only is the rate much lower than a student loan, it is an investment in the child’s future. 3. Supplement Retirement Needs Older homeowners spent their working lives paying down their mortgage. At retirement, when monthly income is reduced, a home equity loan could pay for a dream vacation or an unexpected major expense. 4. Augment the Impending Sale of a Home If you’re planning to sell soon, a home equity line of credit may be the best way to finance improvements, and you can pay it off entirely when you sell. Investing wisely on upgrades and repairs may even reap a profit on your investment. Here are some examples of some not very wise choices. Adding luxury amenities like a swimming pool, a hot spa, lavish landscaping, expensive appliances and exotic countertops and flooring rarely pay off. Purchasing a car or boat or most any personal luxury items is a poor use of the funds, since these items quickly depreciate in value. Also stay away from using money on risk-heavy investments. Financing stock purchases, start-up businesses and paying routine bills is not financially smart. If you cannot afford to purchase those items with available funds, using equity from your home means they should not be in your budget. You should treat a home equity loan as an investment and not as extra cash when making financial decisions. If your intended use of the money doesn't pay you back in some way, it's not the best use of your valuable equity. https://www.joleachman.com/blog/how-to-negotiate-after-an-inspection monthly 0.5 2022-08-11 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660238326442-07TC1KNNWZHD56PIP4FC/unsplash-image-n8Qb1ZAkK88.jpg BLOG - How to Negotiate after an Inspection - Don’t stress…we’ve got this Speak to your agent Once you have received the report from the home inspector, take some time to review it with your agent. They have the experience and know-how to guide you and determine what repairs or concessions you should request. Prioritize repairs After you go over the report, it can be helpful to prioritize the needed repairs by both cost and severity. If there are any significant issues, like foundation damage or bad wiring, you should prioritize these concerns over cosmetic issues or repairs that may be less expensive. Note any problems that will cause you to walk away from the sale if the seller does not address them. Structural damages should never be ignored as they may affect the insurance coverage you can get and the price of your premiums…and your lender may chime in on it too. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660238536716-0W7Y0XJTYI52BBPB4XIG/unsplash-image-98MbUldcDJY.jpg BLOG - How to Negotiate after an Inspection - It will all balance out… Request repairs or concessions Once you have your list of must-have repairs, you will need to negotiate with the seller to find a way to correct these issues by asking them to complete the requested repairs as part of the closing. The seller could offer a concession or credit toward the repairs instead. In that case, you will need to agree on a price to complete the repairs, and the seller can either adjust the home’s purchase price or pay an equivalent amount of your closing costs. Credits or concessions may be the preferred option for many sellers, as making repairs on the home can add another task to an already hectic moving to-do list. Additionally, as the buyer, you have no control over the repairs, and they may not be up to your standards. If you agree to a concession or credit, make sure you get quotes from a general contractor on how much the repairs will cost—this will help you have a ballpark idea of how much you will need to make these repairs. You can share them with the seller to justify the concession or credit amount. Other considerations Before negotiating, make sure you understand the following: If a home is listed as-is, it’s unlikely the seller will want to make any repairs or pay to have them fixed. In the normal market-but especially in a Seller’s market, the standard is “is it a safety issue”? However, if a home inspection discovers a major problem, you can still request a reduction or credit to help rectify the issue or walk away from the deal. If you’re buying a home in a Seller’s market, be mindful of how many repairs or concessions you request. A seller is not obligated to make any repairs. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660238813648-55ZIV1XJ4JQRATITA48X/unsplash-image-aIYFR0vbADk.jpg BLOG - How to Negotiate after an Inspection - Know when to walk away If there comes a time when it feels like you’re at an impasse and the seller won’t budge on your repair requests, it may be come down to taking care of your future finances now and start to look for a different home. The home inspection contingency clause in your contract allows you to back out of the sale without losing your earnest money deposit if the home inspection results are not up to your satisfaction or you cannot come to an agreement with the seller. By better understanding the negotiating process, you’ll be ready to get back on track to move into your dream home. https://www.joleachman.com/blog/ek1icjsj63iuyyll3dc6tqwefpfx5s monthly 0.5 2022-09-22 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/7899250d-3b69-4939-9802-212aba51e767/Photo++Seller%27s+Guide.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/c62ec8aa-3ee2-47d1-a91f-0aa8c6a9c1b0/1.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/f923aee4-4d2f-4082-b5c8-435c939803d2/2.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/fd63830c-3201-474f-a23d-5ba614e70837/3.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/4224df45-674d-4aa2-8fbb-8f8ed8842daa/4.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/55d20834-80ea-443d-acc1-e28c667e6cbd/5.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/bcf4e15f-4db9-4d70-a9cd-cadbe1644b3e/6.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/e8a593af-4d57-4097-b313-04e65de55c16/7.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/4b15c637-c32d-4d79-b6ed-62d965ea29b7/marketing.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/90062342-127c-4df0-b213-acc7e0700def/online+marketing+schedule.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/fcafd8f2-07b8-4196-8509-4db7f7f5b55a/10.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/2555a058-be22-44b4-a74b-604587f7f134/11.png BLOG - Seller’s Guide to our Services - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.joleachman.com/blog/5-steps-to-downsizing monthly 0.5 2022-08-20 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/5bd7b3b2-5f70-40d1-9f67-a3b63684c822/insta5SteptoDownsizing.png BLOG - 5 Steps to Downsizing - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660160463393-POXQZFPCPVI19EYIUW9B/unsplash-image-cYUMaCqMYvI.jpg BLOG - 5 Steps to Downsizing - DETERMINE YOUR GOALS AND LIMITATIONS The first step is to figure out your goals for your new living environment. Do you want to live closer to family? Are you hoping to cut down on home maintenance? Are you looking for a community with certain amenities? You should also consider any limitations that will impact the home you choose. For example, are stairs an issue? Do you need access to medical care? In the case of divorce, are there child-custody issues you need to take into account? Estimate how long you plan to stay in your new home. Do you expect your needs to change during that time? Make a “wish list” of features and prioritize them from most to least important. If you’d like any assistance with this process, give us a call! KNOWLEDGE IS POWER…We’d be happy to sit down with you for a free consultation. We can also help you assess the value of your current home so you can set a realistic budget for your new one. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660160696002-KDO80S8LXJZAY23F90T2/unsplash-image-llCC6EcgEZs.jpg BLOG - 5 Steps to Downsizing - FIND THAT PERFECT NEW HOME Once you’ve established your “wish list,” we can begin the search for your new home. As local market experts, we know the ins and outs of all the top communities in our area. We can help you determine the neighborhood and type of home that will best fit your wants and needs. From family neighborhoods to retirement communities, we serve clients in all stages of life. If you or a loved one are in need of extended support, we can also share our knowledge of the assisted living facilities in town and help you identify those that offer the optimal level of care. Are you planning to relocate out of town? We can refer you to a trusted real estate professional in your target area who can help you with your search. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/bf0aa2f7-938d-4921-8e5b-a28fc33f04d1/handsINhouse.jpeg BLOG - 5 Steps to Downsizing - SELL YOUR CURRENT HOME DON’T WORRY, WE’VE GOT THIS…If you’re ready to sell your current home, we’ll begin the process of preparing to list it as we search for your new one. We have a special interest in helping homeowners who are facing major life transitions, and we offer a full-service real estate experience that aims to remove as much of the stress and hassle of selling your home as possible. We also understand that many of our clients choose to downsize for financial reasons, so we employ tactics and strategies to maximize the potential sales revenue of your home. We do this by employing our proven three-part approach, which focuses on optimum preparation, pricing, and promotion. As part of that plan, we invest in an aggressive marketing strategy that utilizes online and social media platforms to connect with consumers and offline channels to connect with local real estate agents. This ensures your property gets maximum exposure to prospective buyers.. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660161293508-E9Y50N06I5K1VGZW57JH/unsplash-image-oM_2BIDTrjM.jpg BLOG - 5 Steps to Downsizing - SORT AND START PACKING You KNEW this was coming, right? Don’t worry, I’ll help…it will even be fun. I have many resources to help-first we donate all that we can to charities you support from Women’s Resource Centers to Animal Shelters to our Vets. (We have haulers for all the construction materials that you just never got to use:))) Getting started: even before you find your new home, you can begin preparing for your move. Sorting through an entire house full of belongings will take time, so begin as early as possible. Parting with personal possessions can be an emotional process, so let’s start with a small, unemotional space like a laundry or powder room and work our way up to larger rooms. Focus on eliminating duplicates and anything you don’t regularly use. If you have sentimental pieces, family heirlooms, or just useful items you no longer need, think about who in your life would benefit from having them. For large collections, consider keeping one or two favorite pieces and photographing the rest to put in an album. Make sure the items you keep help you achieve the goals you outlined in Step 1. For example, if you want a home that’s easier to clean, cut down on knickknacks that require frequent dusting. If you’re moving to be closer to your grandchildren, choose the shatterproof plates over the antique china. Allow yourself time to take breaks if you start to feel overwhelmed. If you’re helping a loved one with a move, try to be a patient listener if they want to stop and share stories about particular items or memories throughout the process. This can be therapeutic for them and an opportunity for you to learn family history that may otherwise have been forgotten. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660161786046-GR4BATXNIPAOFACUE5OT/unsplash-image-Zyx1bK9mqmA.jpg BLOG - 5 Steps to Downsizing - GET HELP WHEN YOU NEED IT If you’re downsizing due to health issues or a major life change, don’t be afraid to ask for help. My team is there for you. Seek out friends and family members who can assist with packing and decluttering. If that’s not an option, start with me. You’ll be surprised how quickly your perspective will change with just one day. I’ve seen it happen many, many times. If you need additional help, consider hiring a home organizer, full-service moving company, or even a senior move manager, which is a professional who assists older adults and their families with the physical and emotional aspects of relocation. You can find one accredited by the National Association of Senior Move Managers at https://www.nasmm.org/find/index.cfm. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1660162530321-KQWW9HEQXVPY6RDUH6S9/unsplash-image-376KN_ISplE.jpg BLOG - 5 Steps to Downsizing - ARE YOU L IVING YOUR BEST LIFE? Leaving the home where you raised your babies can be tough but if your current home no longer suits your needs, maybe it’s time to consider a change. I’ve seen it happen many times over, once we get started, the energy grows and a certain freedom reveals itself…don’t stress. Together, we’ve got this. Contact us today to schedule a free, no-obligation consultation. Sources: The Tiny Life - https://thetinylife.com/what-is-the-tiny-house-movement/ My Move - https://www.mymove.com/moving/senior-guide-downsizing/ Daily Caring - https://dailycaring.com/5-tips-to-downsizing-for-seniors-keepsakes-mementos/ National Association of Senior Move Managers - https://www.nasmm.org https://www.joleachman.com/blog/51c1o61042r47h0vljak6mbwhuk7ms monthly 0.5 2022-08-01 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/200e6324-e1dd-4303-977f-418ce0f7d89a/August%25202022%2520-%2520MVP%2520-%2520Blog%2520Post%2520Image.jpg BLOG - Make the Move Easy - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1659390735705-0T77IGCXGF5WTBG5JKHW/unsplash-image-n8Qb1ZAkK88.jpg BLOG - Make the Move Easy - DON’T GET TO BUSY TO PROTECT YOURSELF… 1. Watch out for moving scams Maybe you receive a flyer for a moving company in the mail. Perhaps you find a mover online. Either way, never assume that you’re getting accurate information. According to the Better Business Bureau, moving-related fraud is on the rise. In 2021 alone, individuals and families reported more than $730,000 lost to moving scams, an increase of 216% over the previous year. How can you tell if a moving deal is too good to be true? Trust your instincts. If the price appears too low or you can’t pin down the mover’s physical business address, try someone else. The same goes for any moving company representative who dodges questions. Reputable movers should offer transparent pricing, conduct in-home estimates, and provide referrals and copies of their insurance documents upon request. For help finding trustworthy movers, reach out. We’d be happy to share our recommendations. 2. Insure your belongings. Your moving company promises to take care of your custom piano or your antique furniture. But don’t just take their word for it. Ask to see how much insurance they carry and talk about how the claims process works. That way, you’ll know what is (and isn’t) covered in case of loss or damage. Of course, some items are priceless because they’re irreplaceable. You might want to move your more sensitive valuables (jewelry, documents, family heirlooms, etc.) in your own vehicle just to be safe. For added peace of mind, call your rental or home insurance provider if you’re moving anything yourself. You might already be protected or be able to purchase extra insurance to cover your move. If those options are unavailable, you could opt for moving insurance from a third-party carrier. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1659390792311-GN8R10CV134YPMMCTCP5/unsplash-image-oM_2BIDTrjM.jpg BLOG - Make the Move Easy - PACKING-DOESN’T HAVE TO BE THAT BAD… 3. Start packing when you start looking for a new home. As soon as your house hunting begins in earnest, think about packing away things you won’t need for the next few months. These could include seasonal or holiday decor, clothing, and books. Tackling just one or two boxes a day will give you a head start. If you're going to put your current home on the market, you'll want to declutter anyway. Decluttering will make your home seem larger, and depersonalizing helps buyers envision their own items in the space. Consider selling, donating, or throwing out possessions you no longer need. The things you want to keep can be placed in storage until you officially start moving to a new place. 4. Pack to make unpacking easier. Have you ever opened a packed box only to find that it’s filled with an assortment of items that don’t belong together? This isn’t efficient and will only make unpacking harder. A better way to pack is to bundle items from a single room in a labeled box. Labels can let movers know (and remind you) where to place each box, whether it’s fragile, and which side needs to be up. Some people like to assign colors to each room in their new home to make distributing color-coded boxes a breeze. Feel free to unleash your inner organizer with this project. For example, you could create a spreadsheet and assign each box a number. As boxes are packed, simply fill in the spreadsheet with a list of contents. Anyone with access to the spreadsheet can log in and quickly find the desired item. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1659390919173-UBREBRTI4LPXGCI1PXIL/unsplash-image-cue0DuZ8cUU.jpg BLOG - Make the Move Easy - YOU MAY NEED CERTAIN CLOTHES IMMEDIATELY 5. Think outside the box when transporting clothes. Who wants to worry about boxing up clothes? If you plan on hiring professional movers, ask if you can leave clothing in your dressers. In many cases, they will use plastic to wrap the dresser so the drawers don’t fall out during transport. If keeping your clothes in your furniture makes it too heavy, the movers might be able to wrap and move drawers by themselves. Another easy transport trick involves turning clean garbage bags into garment bags. Poke a hole in the bottom of a garbage bag, turn the bag upside down, slide it over five to seven garments on hangers, and lay the items flat in the back seat or trunk of your vehicle. The bags will help prevent wrinkling, and your clothes will be ready to hang up when you get to your new home. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1659391024296-I64DH3SA9OM2VRQRKU6T/unsplash-image-ZXZ7t7TneQs.jpg BLOG - Make the Move Easy - YOU THINK PUTTING THAT CUSTOM MADE BED TOGETHER WAS HARD THE FIRST TIME? 6. Document prior to disassembling appliances and furnishings. Few things are as confusing as looking at a plastic baggie filled with nuts, bolts, and screws from your disassembled dining room table or sorting through a box of electrical wires and cords to see which ones fit your TV. The best workaround to easier reassembly is to document the disassembly process. Take photos and videos or thorough notes as you go. Whether it’s your headboard or treadmill, be very precise. And just a tip: Construct your beds first when you get to your new home. After a long moving day, the very last thing you want is to be assembling beds into the wee hours of the morning. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1659391080178-BAO9TCMPQWM2101B8RG0/unsplash-image-SZqZu4NQsak.jpg BLOG - Make the Move Easy - YOUR LIFE WILL BE EASIER IF YOU TAKE CARE OF ALL YOUR KIDS-EVEN THE FURRY ONES-FIRST 7. Prioritize unpacking kids’ rooms. Children can become very stressed by a big move. To ease their transition, consider prioritizing unpacking their rooms as their “safe zones.” You aren’t obligated to unpack everything, certainly. However, set up your children’s rooms to be functional. That way, your kids can hang out in a private oasis away from the chaos while you’re running around and moving everything else. Depending upon how old your youngsters are, you might want to give them decorating leeway, too. Even if it’s just letting them choose where furniture goes, it gives them a sense of buy-in. This can help ease the blues of leaving a former home they loved. 8. Be a thoughtful pet parent. Many types of pets can’t handle the commotion of moving day. Knowing this, be considerate and seek ways to give your pets breaks from the action. You might ask a friend to pet sit your pooch or keep your kitty in a quieter room, like a guest bathroom. Be sure to check in on your pet frequently. Pets like to know that you’re around. Give them treats, food, and water throughout the day. When it’s time to transport your pet, do it calmly. At your new property, give your pet access to just a room or two at first. Pets typically prefer to acclimate themselves slowly to unfamiliar environments. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1ad0c6ad-5023-454e-ad7b-8ee8c8fc500f/unsplash-image-7FmoAzL2x1s.jpg BLOG - Make the Move Easy - THIS IS THE START OF YOUR NEXT PHASE IN LIFE…ENJOY IT! 9. Plan for your move like you’re planning for an exciting vacation. When you plan vacations, you probably look up local restaurants, shops, and recreational areas. Who says you can’t do the same thing when moving? Create a list of all the places you want to go and things you want to do around your newly purchased home. Having a to-explore list keeps everyone’s spirits high and gives you starting points to settle into the neighborhood. And don’t feel that you have to cook that first night. Once the moving trucks are gone, you can always pop over to a local eatery or order DoorDash for major convenience. The first meal in your new home should be a happy, welcoming treat. And if you’re relocating to our neck of the woods, we would love to introduce you to all the hot spots in town and recommend our local favorites. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1659391309435-EYSAH0I7C9696WX8K0Q4/unsplash-image-BKfsCuFQ5R8.jpg BLOG - Make the Move Easy - MAKE THAT FIRST COUPLE OF DAYS SMOOTHER 10. Pack an “Open Me First!” box. You won’t be able to unpack all your boxes in one day, but you shouldn’t go without your sheets, pillows, or toothbrush. Designate some boxes with “Open Me First!” labels. (Pro tip: Keep a tool kit front and center for all that reassembling.) Along these lines, use luggage and duffel bags to transport everyone’s personal must-have items and enough clothing for a couple of days. That way, you won’t have to rummage through everything in the middle of your move looking for sneakers or snacks. When packing your “Open Me First!” boxes, think about which items you’ll need in those first 24 hours. For example, toilet paper and hand soap are musts. A box cutter will make unpacking a lot easier, and paper towels and trash bags are sure to come in handy. Reach out for a complete, printable list of “Open Me First!” box essentials to keep on hand for your next move! https://www.joleachman.com/blog/7-costly-mistakes-home-sellers-make-and-how-to-avoid-them monthly 0.5 2022-07-11 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/9b2d03a0-d335-40a9-97d0-061f25adb52e/julyBlogImageAltered.png BLOG - 7 Costly Mistakes Home Sellers Make (And How to Avoid Them) - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/68bb6e85-b5ca-4fb9-bd39-e102196a2614/beachCottagePorch.jpeg BLOG - 7 Costly Mistakes Home Sellers Make (And How to Avoid Them) - No matter what’s going on in the housing market, the process of selling a home can be challenging. Some sellers have a hard time saying goodbye to a treasured family residence. Others want to skip ahead to the fun of decorating and settling into a new place. Almost all sellers want to make the most money possible. Whatever your circumstances, the road to the closing table can be riddled with obstacles — from issues with showings and negotiations to inspection surprises. But many of these complications are avoidable when you have a skilled and knowledgeable real estate agent by your side. For example, here are seven common mistakes that many home sellers make. These can cause anxiety, cost you time, and shrink your financial proceeds. Fortunately, we can help you avert these missteps and set you up for a successful and low-stress selling experience. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1656690473612-LJSSQN8LE9AI4ZVYB3DN/unsplash-image-sLW3loQ-jXw.jpg BLOG - 7 Costly Mistakes Home Sellers Make (And How to Avoid Them) - MISTAKE #1: Setting an Unrealistic Price Many sellers believe that pricing their homes high and waiting for the “right buyers” to come along will net them the most money. However, overpriced homes often sit on the market with little activity, which can be the kiss of death in real estate — and result in an inevitable price drop. Alternatively, if you price your home at (or sometimes slightly below) market value, it can be among the nicest that buyers see within their budgets. This can increase your likelihood of receiving multiple offers. To help you set a realistic price from the start, we will do a comparative market analysis, or CMA. This integral piece of research will help us determine an ideal listing price based on the amount that similar properties have recently sold for in your area. Without this data, you risk pricing your home too high (and getting no offers) or too low (and leaving money on the table). We can help you find that sweet spot that will draw in buyers without undercutting your profits. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1656690607964-YAMNKS2VKWLT4AZGII8O/unsplash-image-IrRbSND5EUc.jpg BLOG - 7 Costly Mistakes Home Sellers Make (And How to Avoid Them) - MISTAKE #2: Trying to Time the Market You’ve probably heard the old saying, “Buy low and sell high.” But when it comes to real estate, that’s easier said than done. Delaying your home sale until prices have hit their peak may sound like a great idea. But sellers should keep these factors in mind: Predicting the market with certainty is nearly impossible. If you wait to buy your next home, its price could increase as well. This may erode any additional proceeds from your sale. If mortgage rates are rising, your pool of potential buyers could shrink — and you would have to pay more to finance your next purchase. Instead of trying to time the market, choose your ideal sales timeline. This may be based on factors like your personal financial situation, shifting family dynamics, or the seasonal patterns in your neighborhood. We can help you figure out the best time to sell given your individual circumstances. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1656690811708-ZAEWCS6775RW0QD9S2BW/unsplash-image-NaXa8LXuaP8.jpg BLOG - 7 Costly Mistakes Home Sellers Make (And How to Avoid Them) - MISTAKE #3: Failing to Address Needed Repairs Many sellers hope that buyers won’t notice their leaky faucet or broken shutters during home showings but minor issues like these can leave buyers worrying about more serious — and costly — problems lurking out of sight. BTW, you should know-they are flushing and tuning on faucets-every tour. Even if you do receive an offer, there’s a high likelihood that the buyer will hire a professional home inspector, who will flag any defects in their report. Neglecting to address a major issue could lead buyers to ask for costly repairs, money back, or worse yet, walk away from the purchase altogether. To avoid these types of disruptions, it’s important to make necessary renovations before your home hits the market. We can help you decide which repairs and updates are worth your time and investment. In some cases, we may recommend a professional pre-listing inspection. This extra time and attention can help you avoid potential surprises down the road and identify any major structural, system, or cosmetic faults that could impact a future sale. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1656690962792-L27QXJIPVAFO4B07OXC1/unsplash-image-bLhafHPXuJE.jpg BLOG - 7 Costly Mistakes Home Sellers Make (And How to Avoid Them) - MISTAKE #4: Neglecting to Stage Your Home Staging is just the act of preparing your home for potential buyers-whether we do it together or you hire a pro, the goal is to “set the stage” to help buyers envision themselves living in your home. Some sellers opt to skip this step, but that mistake can cost them time and money in the long run. A 2021 survey by the Real Estate Staging Association found that, on average, staged homes sold nine days faster and for $40,000 over list price. Indoors, staging could include everything from redecorating, painting, or rearranging your furniture pieces to removing personal items, decluttering, and deep cleaning. Outdoors, you might focus on power washing, planting flowers, or something welcoming at the front door. You may not need to do all these tasks, but almost every home can benefit from some form of staging. Before your home hits the market, we can refer you to a professional stager or offer our insights and suggestions if you prefer the do-it-yourself route. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1656691140598-R7ZFVHQD5PJMJWRJPEX0/unsplash-image-98MbUldcDJY.jpg BLOG - 7 Costly Mistakes Home Sellers Make (And How to Avoid Them) - MISTAKE #5: Evaluating Offers on Price Alone When reviewing offers, most sellers focus on one thing: the offer price. While dollar value is certainly important, a high-priced offer is worthless if the deal never reaches the closing table. That’s why it’s important to consider other factors in addition to the offer price, such as: Financing and buyer qualifications Deposit size Contract contingencies Closing date Leaseback options Depending on your circumstances, some of these factors may or may not be important to you. For example, if you’re still shopping for your next home, you might place a high premium on an offer that allows for a flexible closing date or leaseback option. Buyers and their agents are focused on crafting deals that work well for them. We can help you assess your needs and goals to select an offer that works best for you. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1656691357087-SGHIQYERGBNRB29N8QMD/unsplash-image-KQ0C6WtEGlo.jpg BLOG - 7 Costly Mistakes Home Sellers Make (And How to Avoid Them) - MISTAKE #6: Acting on Emotion Instead of Reason It’s only natural to grow emotionally attached to your home. That’s why so many sellers end up feeling hurt or offended at some point during the selling process. Low offers can feel like insults. Repair requests can feel like judgments. And whatever you do — don’t listen in on showings through your security monitoring system. Chances are, some buyers won’t like your decor choices, either! However, it’s a huge mistake to ruin a great selling opportunity because you refuse to counter a low offer or negotiate minor repairs. Instead, try to keep a cool head and be willing to adjust reasonably to make the sale. We can help you weigh your decisions and provide rational advice with your best interests in mind. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1656691481736-3CZCJMYNFCS2AA6SG7J1/unsplash-image-_Hely2YN314.jpg BLOG - 7 Costly Mistakes Home Sellers Make (And How to Avoid Them) - MISTAKE #7: Not Hiring an Agent There’s a good reason 90% of homeowners choose to sell with the help of a real estate agent. Homes listed by agents sold for 22% more than the average for-sale-by-owner home, according to a recent study by the National Association of Realtors. Selling a home on your own may seem like an easy way to save money. But in reality, there is a steep learning curve. And a listing agent can: Skip past time-consuming problems Use market knowledge to get the best price Access contacts and networks to speed up the selling process If you choose to work with a listing agent, you’ll save significant time and effort while minimizing your personal risk and liability. And the increased profits realized through a more effective marketing and negotiation strategy could more than make up for the cost of your agent’s commission. We can navigate the ins and outs of the housing market for you and make your selling process as stress-free as possible. You may even end up with an offer for your home that’s better than you expected. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1656691803188-4INJVD1HW1W3NMQ8UXY0/unsplash-image-wGu1pzDSm3g.jpg BLOG - 7 Costly Mistakes Home Sellers Make (And How to Avoid Them) - BYPASS THE PITFALLS WITH A KNOWLEDGEABLE GUIDE Your home selling journey doesn’t have to be hard. When you hire us as your listing agent, we’ll develop a customized sales plan to help you get top dollar for your home without any undue risk, stress, or aggravation. If you’re thinking of buying or selling a home, reach out today to schedule a free consultation and home value assessment. Sources: The Washington Post - https://www.washingtonpost.com/business/2019/07/22/just-because-its-sellers-market-doesnt-mean-you-should-overprice-your-home/ Realtor.com - https://www.realtor.com/advice/sell/spark-a-bidding-war-for-your-home/ American Society of Home Inspectors - https://www.homeinspector.org/Newsroom/Articles/Before-You-Sell-6-Reasons-to-Get-a-Pre-Listing-Inspection/15766/Article Real Estate Staging Association - https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548 National Association of Realtors - https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics https://www.joleachman.com/blog/the-state-of-real-estate-in-2022 monthly 0.5 2022-06-02 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/9514cff6-bc29-42f2-a524-c8ce793bd07c/Copy2+of+June+2022+-+MVP+-+Blog+Post+Image-2.png BLOG - The State of Real Estate in 2022 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1654198936938-62VA9WU9H9KHI48BQ130/unsplash-image-cYUMaCqMYvI.jpg BLOG - The State of Real Estate in 2022 - Mortgage Rates Have Risen Higher Than Expected Over the past couple of years, homebuyers have faced intense competition for new homes—in part due to historically low mortgage rates that were a result of the Federal Reserve’s efforts to keep the economy afloat during the COVID-19 pandemic. However, in response to a concerning level of inflation, the Fed is now reversing those efforts by raising the federal funds rate. And as a result, mortgage rates are rising, as well. Few experts predicted, though, that mortgage rates would go up as quickly as they have. In January 2022, the Mortgage Bankers Association projected that rates would reach 4% by the end of this year. By mid-April, however, the average 30-year fixed mortgage rate had already hit 5%, up from around 3% just one year prior. On a $400,000 mortgage, that 2% difference could translate into an additional $461 per monthly payment. Since then, mortgage rates have continued on an upward trend. So what impact are these rising rates having on demand? While many buyers had hoped for a cooling effect, experts warn that may not be the case. Ali Wolf, chief economist at housing market research firm Zanda, told Fortune magazine, "Rising mortgage rates are having a counterintuitive effect on the housing market. Home shoppers are actually sprung into action in an attempt to buy a home before mortgage rates rise any higher." Since inventory remains low, the resulting “race” has kept the homebuying market highly competitive–at leas t for now. What does it mean for you? While current 30-year fixed mortgage rates represent an increase over previous months, they remain well below the historical average of 8%. As inflation across the economy continues, the Fed is likely to raise rates further this year. Buyers should act fast to secure a good mortgage rate. We’d be happy to refer you to a lender who can help. For sellers, speed is also of the essence. The pool of potential buyers may shrink as mortgages become more expensive. And if you plan to finance your next home, you’ll want to act quickly to secure a favorable rate for yourself. Contact us today to discuss your options. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/0acc3a36-b04a-4640-b424-2b8f0fda8fe5/backyardtohouse+%282%29.jpg BLOG - The State of Real Estate in 2022 - What About Home Prices? History shows that higher interest rates don’t necessarily translate to lower home prices. In fact, home prices rose 5% between 1980 and 1982, a period of significantly higher mortgage rates and inflation. Forecasters expect that home prices will continue to go up throughout 2022, though likely at a slower pace than the 18.8% increase of the last 12 months.4 Bank of America predicts that prices will be up approximately 10% by the end of this year, while Fannie Mae estimates 11.2%. In addition to limited supply and a race to beat rising mortgage rates, home values are also climbing because of positive economic indicators, like low unemployment.8 Plus, rents are soaring–up 17% from a year ago–which is prompting more first-time homebuyers to enter the market. Add to that the continued popularity of remote work, and it’s easy to see why property prices continue to surge. However, it’s not all bad news for prospective homebuyers. Economists expect that as mortgage rates rise, the rate of appreciation will continue to taper, though the effect may be gradual. “Eventually mortgage rates will slow down home prices,” according to Ken Johnson, an economist at Florida Atlantic University interviewed by Marketwatch. “We should not see rapid upticks in prices as mortgage rates rise.” Forecasters agree—Fannie Mae expects price increases to slow to 4.2% in 2023. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646088024908-0AN9SRN9EQKSGT5T55Q2/23+corte+pinturas.png BLOG - The State of Real Estate in 2022 - Inventory Remains Extremely Low As noted, one of the largest hurdles to homeownership is a lack of inventory. According to a February 2022 report by Realtor.com, there’s an expanding gap between household formation and home construction, which has resulted in a nationwide shortage of 5.8 million housing units. The origins of this shortage date back to the 2008 housing crisis, during which crashing home values led contractors to stop building new properties—a trend that has not been fully reversed. That decline in home construction also resulted in a decrease in the number of home building professionals, a trend that was exacerbated by job losses during the COVID-19 pandemic. Now, many builders are limited by their ability to find qualified labor. Another major challenge is a staggering increase in the cost of materials. Pandemic-related supply chain shortages have been a significant driver, with home building material costs rising on average 20% on a year-over-year basis. The price of framing lumber alone has tripled since August 2021. These trends add tens of thousands of dollars to the cost of a typical home. Factors like a lack of buildable land in many areas, restrictive zoning, and a shortage of developers are also contributing to the issue. Most homebuying experts agree that the lack of inventory is the primary factor driving rising housing prices and unprecedented competition for homes. With available housing units near four-decade lows, the end of the current housing boom is not yet in sight. What does it mean for you? Prospective buyers should be prepared to compete for a home, since low inventory can lead to multiple offers. You may also need to expand your search parameters. If you’re ready to look, we’re ready to help. For sellers, the picture is rosier. In this strong market, your home may be worth more than you realize. Contact us to find out how much your home could sell for in today’s market. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1654200412979-2DTTZYCWUDCE8LH21HVB/unsplash-image-t7TfzV1oNuw.jpg BLOG - The State of Real Estate in 2022 - I AM HERE TO GUIDE YOU While national real estate trends can provide a “big picture” outlook, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home values in your particular neighborhood. If you’re considering buying or selling a home, contact us now to schedule a free consultation. We can help you assess your options and make the most of this unique real estate landscape. Sources: Marketwatch - https://www.marketwatch.com/picks/home-price-appreciation-will-normalize-what-5-economists-and-real-estate-pros-predict-will-happen-to-home-prices-in-2022-01646940841 Bankrate - https://www.bankrate.com/mortgages/mortgage-rate-forecast CNBC - https://www.cnbc.com/2022/04/16/heres-how-much-the-same-mortgage-costs-now-compared-to-last-year.html Fortune - https://fortune.com/2022/03/23/housing-market-interest-rate-economic-shock/ National Association of Realtors - https://www.nar.realtor/blogs/economists-outlook/instant-reaction-mortgage-rates-april-07-2022 Fortune - https://fortune.com/2022/03/16/home-prices-2022-2023-bank-of-america-forecast-mortgage-rates/ Fortune - https://fortune.com/2022/03/07/what-home-prices-will-look-like-2023-fannie-mae/ Fortune - https://fortune.com/2022/03/17/home-prices-drop-housing-markets-california-michigan-massachusetts-corelogic/ CNN - https://www.cnn.com/2022/03/23/success/us-national-rent-february/index.html MarketWatch - https://www.marketwatch.com/story/home-prices-increase-at-one-of-the-fastest-rates-on-record-but-higher-mortgage-rates-should-slow-future-growth-11648559497 Realtor.com - https://www.realtor.com/research/us-housing-supply-gap-expands/ NPR - https://www.npr.org/2022/03/29/1089174630/housing-shortage-new-home-construction-supply-chain Investopedia - https://www.investopedia.com/housing-market-dips-in-early-march-2022-5222449 NPR - https://www.npr.org/2022/03/29/1089174630/housing-shortage-new-home-construction-supply-chain Fortune - https://fortune.com/2022/03/14/housing-market-key-metric-inventory-zillow-bad-for-buyers/ https://www.joleachman.com/blog/how-to-write-a-winning-offer-in-this-market monthly 0.5 2022-05-05 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/cb01fb5b-2294-4cf8-b04d-fe2892560967/May%25202022%2520-%2520MVP%2520-%2520Blog%2520Post%2520Image.jpg BLOG - How to Write a Winning Offer in this Market - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/3c6a6883-c711-49ab-b199-782da6c3036c/AdobeStock_450194155.jpeg BLOG - How to Write a Winning Offer in this Market DEMONSTRATE SOLID FINANCING The reality is, no one gets paid if a home sale falls through. That’s why sellers (and their listing agents) favor offers with a high probability of closing. Sellers particularly love all-cash offers because there’s no chance of financing issues cropping up at the last moment. But don’t despair if you can’t pay cash for your home. According to the National Association of Realtors, only about 1 in 4 home purchases are all-cash deals, which means the vast majority are financed with a mortgage. If sellers are assured that financing will come through, buying with a mortgage doesn’t have to be a big disadvantage. The most important step you can take as a buyer is to get preapproved before you start looking for homes. A preapproval letter shows sellers that you are serious about buying and that you will be able to make good on your offer. It’s also important to consider the reputation of your lender. While sellers may not know or care about a lender’s reputation, their agents often do. Some lenders are much easier to work with than others, especially if you are pursuing certain types of mortgages like FHA or VA loans. If so, you’ll want a lender who specializes in these types of mortgages. If you’re unsure who to choose, we are happy to refer you to reputable lenders known for their ease of doing business. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1651613397218-KYIL27MS6ADD6P18OF1Z/unsplash-image-lCPhGxs7pww.jpg BLOG - How to Write a Winning Offer in this Market - PUT DOWN A SIZABLE DEPOSIT Buyers can show sellers that they’re serious about their offer and have “skin in the game” by putting down a large earnest money deposit. Earnest money is a deposit held in escrow by a title company or the seller’s broker or lawyer. If the purchase goes through, it is applied to the down payment and closing costs—if the sale falls through, the buyer may lose some or all of that deposit. While an earnest money deposit is typically around 1-2% of the sale price, offering a higher deposit can help demonstrate to the buyer that you are serious about the property. However, this strategy can also be risky. We can help you determine an appropriate deposit to offer based on your specific circumstances. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1651613586127-WXN528WSLFDGC7IAZHR1/unsplash-image-iC4BsZQaREg.jpg BLOG - How to Write a Winning Offer in this Market ASK FOR FEW (OR NO) CONTINGENCIES Most real estate offers include contingencies, which are clauses that allow one or both parties to back out of the agreement if certain conditions are not met. These contingencies appear in the purchase agreement and must be accepted by both the buyer and seller to be legally binding. Common contingencies include: Financing: A financing contingency gives the buyer a window of time in which to secure a mortgage. If they are unable to do so, they can withdraw from the purchase and the seller can move on to other buyers. Inspection: An inspection contingency gives the buyer the opportunity to have the home professionally inspected for issues with the structure, wiring, plumbing, etc. Typically, the seller may choose whether or not to remediate those issues; if they do not, the buyer may withdraw from the contract. Appraisal: Most lenders will not offer a mortgage on a home that costs more than it's worth. An appraisal contingency gives the buyer an opportunity to get the home professionally assessed to ensure that its value is at or above the sales price. If an appraisal comes in low, the seller may be asked to renegotiate the contract. Sale of a prior home: Some buyers cannot afford to purchase a new home until they sell their previous one. If the buyer is unable to sell their current home within a specified window of time, this contingency enables them to withdraw from the contract without penalty. Since contingencies reduce the likelihood that a sale will go through, they generally make an offer less desirable to the seller. The more contingencies that are included, the weaker the offer becomes. Therefore, buyers in a competitive market often volunteer to waive certain contingencies. However, it’s very important to make this decision carefully and recognize the risks of doing so. For example, a buyer who chooses to waive a home inspection contingency may find out too late that the home requires extensive renovations, and a buyer who waives the appraisal may risk their mortgage falling through. If you back out of a home purchase without the protection of a contingency, you could lose your earnest money deposit. We can help you assess the risks and benefits involved. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1651613729313-JBVC7Y0U11IGG8KV6D29/unsplash-image-TqKFiMR9O6s.jpg BLOG - How to Write a Winning Offer in this Market - BE FLEXIBLE ON CLOSING DATES When it comes to selling a house, money isn’t everything. People sell their homes for a wide variety of reasons, and flexible terms that work with their personal situations can sometimes make all the difference. For example, if a seller is in the process of planning a significant move, they may prefer a longer closing timeline that gives them time to find housing in their new location. Similarly, short-term leaseback options, in which the sale is completed but the seller retains the right to rent the home for a specified period of time, can be compelling. These arrangements enable the seller to use the money from the sale of their home to purchase their next house. A leaseback agreement also makes it possible for them to avoid moving twice when their next home is not yet ready to occupy. Flexible closing dates and leaseback options can provide a powerful advantage for first-time homebuyers. If you have a month-to-month or easily transferable lease, for example, you may be able to offer a more flexible timeline than a buyer who is simultaneously selling their existing home. Of course, the value of these terms depends on the seller’s situation. We can reach out to the listing agent to find out the seller’s preferred terms, and then collaborate with you to write a compelling offer that works for both parties https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/b51b7e12-9c97-47d9-b67e-04caf53ff1c7/SUCCESS.jpg BLOG - How to Write a Winning Offer in this Market - WORK WITH A SKILLED BUYER’S AGENT In this ultra-competitive real estate market, one of the greatest advantages you can give yourself is to work with a skilled and trustworthy real estate professional. We will make sure you fully understand the process and help you submit an appealing offer without taking on too much risk. Plus, we know how to write offers that are designed to win over both the seller and their listing agent. The truth is, listing agents play a huge role in helping sellers evaluate offers, and they want to work with skilled buyer’s agents who are professional, communicative, and courteous. Once your offer is accepted, we’ll also handle any further negotiations and coordinate all the paperwork and other details involved in your home purchase. The best part is, you’ll have a knowledgeable, licensed advocate on your side who is watching out for your best interests every step of the way. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1651614691382-GNFQOV3QCWWQH1ZCPJGI/unsplash-image-I3HPUolh5hA.jpg BLOG - How to Write a Winning Offer in this Market - HELPING YOU GET TO THE RIGHT OFFER In many cases, a competitive offer doesn’t need to be all-cash, contingency-free, or significantly above asking price. But if you’re serious about buying a home in today’s market, it’s important to consider what you can do to sweeten the deal. If you’re a buyer, we can help you compete in today’s market without getting steamrolled. And if you’re a seller, we can help you evaluate offers by taking all the relevant factors into account. Contact us today to schedule a free consultation. Sources: National Association of Realtors - https://www.nar.realtor/newsroom/pending-home-sales-dwindle-4-1-in-february National Association of Realtors - https://www.nar.realtor/newsroom/existing-home-sales-fade-7-2-in-february Forbes - https://www.forbes.com/advisor/mortgages/housing-crisis-tips/ Realtor.com - https://www.realtor.com/advice/finance/earnest-money-deposit-mistakes-buyers-make/ Bankrate - https://www.bankrate.com/real-estate/contingency-clause/ Home Buying Institute - http://www.homebuyinginstitute.com/mortgage/risks-of-waiving-a-contingency/ Realtor.com - https://www.realtor.com/advice/sell/what-is-a-rent-back-agreement https://www.joleachman.com/blog/instant-cash-offers-legit monthly 0.5 2022-04-07 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/21a899b2-e803-4186-9316-521effc724d9/October%25202019%2520-%2520MVP%2520-%2520Social%2520Media%2520Image.png BLOG - Instant Cash offers, legit? - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1644886753248-URIM222NR2N8ZGNV6WED/AdobeStock_57496553.jpeg BLOG - Instant Cash offers, legit? FIRST, HOW DOES THE iBUYER PROCESS WORK? While each company operates a little differently, the basic premise is the same. A seller (or seller’s agent) completes a brief online form that asks questions about the size, features, and condition of the property. Some also request digital photos of the home. The iBuyer will use this information to determine whether or not the home fits within their “buy box,” or set of criteria that matches their investment model. They are generally looking for houses they can easily value and “flip.” In most cases, their ideal property is a moderately priced, single-family home located in a neighborhood with many similar houses. The property shouldn’t require any major renovations before listing.1 These qualities make it easier to assess value (lots of comparable sales data) and help to reduce risk and minimize carrying costs. Once the iBuyer has used their algorithm to determine the amount they are willing to pay, they will email an offer to the seller, usually within a few days. The offer should also disclose the company’s service fee, which is typically between 7% and 12% of the purchase price. If the seller accepts, an in-person visit and inspection are scheduled. The iBuyer will ask for a reduction in price to cover any defects they find during the process. Once the sale closes, they will make the necessary updates and repairs and then resell the home on the open market. WHAT ARE THE PROS AND CONS OF SELLING TO AN iBUYER? Of course, the biggest benefit of selling your home to an iBuyer is convenience. For some homeowners, the stress and disruption of preparing and listing their home can feel overwhelming. And what busy family with kids and pets wouldn’t want to skip the hassle of keeping their house “show ready” for potential buyers? Additionally, many sellers like the predictability of a cash buyer and the flexibility to choose their closing date. However, this added convenience does come at a cost. An iBuyer is an investor looking to make a profit. So their purchase offer is usually below true market value. When you tack on service fees of up to 12% and deductions for updates and repairs, studies show that sellers who work with iBuyers net a lower amount than those that list the traditional way. In fact, a MarketWatch investigation found that transactions involving iBuyers net the seller 11% less than if they would have sold their home with an agent on the open market. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/7541f6b5-f8c0-44e6-bcff-c7abb544eb01/rentalKitchen.jpeg BLOG - Instant Cash offers, legit? WHAT ARE THE PROS AND CONS OF BUYING FROM AN iBUYER? Buying a home from an iBuyer is a lot like buying a home from any investor. The pros are that it’s usually clean, neutral, and moderately updated. You’ll often find fresh paint and modern finishes. And because it’s uninhabited, you don’t have to work around a seller’s schedule to see the home. However, there are some pitfalls to avoid when working with iBuyers. Speed is of the essence, so sometimes the renovations are rushed and the quality can suffer. Also, their investment margins don’t leave much room for negotiating a price reduction or additional repairs. That leaves buyers —who have already invested hundreds of dollars in an inspection—little recourse if any issues are uncovered. That’s one of the reasons we always recommend viewing properties with an agent. During your visit, a real estate professional can point out any “red flags” at the home, provide background information about the neighborhood, and help you assess its true market value. That way, you don’t invest time and money in a high-risk or overpriced property. Safety is also a concern. Some companies allow buyers to access their homes via a smartphone app. While it may seem convenient, it provides an easy way for squatters and others to enter the home illegally. Luckily, since most iBuyers (and traditional sellers) pay a buyer agent’s commission, you can benefit from the guidance and expertise of a real estate professional … at no cost to you! HOW CAN I PROTECT MYSELF IF I CHOOSE TO WORK WITH AN iBUYER? While it may seem like the “quick and easy” way to go, working with an iBuyer can present some unique challenges. For example, they are notorious for presenting a strong initial purchase offer and then whittling it down with a long list of costly updates and repairs once they complete their inspection. And, unlike a traditional buyer who is incentivized to make a deal work, iBuyers can easily walk away if you don’t meet their demands. Just like you wouldn’t go to court without a lawyer, you shouldn’t enter into a real estate transaction without an advocate to represent you. Having a professional agent on your side can be especially important when negotiating with an iBuyer. Remember, they employ sophisticated representatives and a team of lawyers who are focused on maximizing their profits, not yours. You need someone in your corner who has the skills and knowledge to ensure you get a fair deal and who understands the terms of their contracts, so you don’t encounter any unpleasant surprises along the way. Overall, we think the emergence of new technology that helps to streamline the real estate process is exciting. And if we believe a client can benefit from working with an iBuyer, we present it as an option. But there is—inevitably—a cost to the convenience. After all, most iBuyers eventually list the properties they acquire on the open market, which is still the best place to find a buyer if you want to maximize the sales price of your home. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087904355-KV05E4TM1X1PVPM73570/kichen+CU+%281%29.jpg BLOG - Instant Cash offers, legit? EXPLORE YOUR OPTIONS Do you want to learn more about iBuyers and other options currently available in our area to buy or sell your home? We can help you determine the best path, given your unique circumstances. Contact us to schedule a free, no-obligation consultation! NOTE: this is an ever changing industry. Methodologies made have been altered since the writing of this blog. Always check the latest information from each company if you are considering this route. Sources: The Dallas Morning News - https://www.dallasnews.com/business/real-estate/2019/07/11/so-called-ibuyer-real-estate-firms-pitch-programs-to-buy-your-house-help-you-hunt-for-another/ MarketWatch - https://www.marketwatch.com/story/selling-your-home-to-an-ibuyer-could-cost-you-thousands-heres-why-2019-06-11 Forbes - https://www.forbes.com/sites/alyyale/2019/08/16/study-shows-ibuyers-cost-home-sellers-thousands-is-convenience-worth-the-price/#697ac0c42269 US News & World Report - https://realestate.usnews.com/real-estate/articles/what-to-expect-when-buying-a-home-from-an-ibuyer Inman - https://www.inman.com/2019/09/11/police-arrest-couple-found-squatting-in-opendoor-home-with-their-kids/ https://www.joleachman.com/blog/tips-for-prepping-your-home-for-top-dollar monthly 0.5 2022-04-07 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/68fc3afb-86c7-4f0e-a2dc-5b316dedd811/April%25202022%2520-%2520MVP%2520-%2520Blog%2520Post%2520Image.jpg BLOG - Tips for prepping your home for top dollar - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1649200190371-U89LSXZRYLNRFW9OXYLK/unsplash-image-E6GPU4m_2oU.jpg BLOG - Tips for prepping your home for top dollar - IT CAN BE HARD TO SEE WHAT BUYERS SEE, SO… Contact Your Real Estate Agent We go the extra mile when it comes to servicing our clients, and that includes a series of pre-listing consultations to help you prepare your home for the market. Some sellers make the mistake of waiting until they are ready to list their home to contact a real estate agent. But we’ve found that the earlier we’re brought into the process, the better the result. That often means a faster sale—and more money in your pocket after closing. We recently did a facelift of a home that had been rented for 5 years. The owners invested in new sod, basic landscaping and a quick coat of fresh paint—-and got 3% more than they would have had they left it “as is”. That was $33K in this instance. We connected with our trusted network of contractors, vendors, and service professionals to get it done quickly. This network of support can alleviate stress and help ensure you get everything done in the days leading up to listing. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1649200757637-X2L5EQZJ94RFFGGFFHBQ/unsplash-image-JRRbMLWOouE.jpg BLOG - Tips for prepping your home for top dollar - DON’T WORRY, YOU WON’T BE ALONE IN THIS… Address Major Issues and Upgrades In most cases, Sellers don’t need to make any major renovations before listing; however, if you’re selling an older home or if you have any doubt about its condition, it’s best to get into it as soon as possible. When Buyers are paying top dollar, they can get scared off and cancel escrow if they feel the repair list is too great. In that case, you will have to disclose all that is found by any inspector anyway, so why not address it up front and sell your house the first time? In some instances, we may recommend a pre-listing inspection. Although it's less common in a seller's market, a pre-listing inspection can help you avoid potential surprises down the road. We can discuss the pros and cons during our initial meeting. This is the time to address structural, systems, or cosmetic issues that could hurt the sale of your home down the line. For example, problems with the frame, foundation, or roof are likely to be flagged on an inspection report. Issues with the HVAC system, electrical wiring, or plumbing may cause the home to be unsafe. Even if you are selling “as is”, a safety hazard should always be repaired or compensation made to the Buyer to handle it later upon their possession. It’s a smart way to manage any risk of unhappy Buyers later. Contact us so we can guide you on the updates that are worth your time and investment. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1649201143295-65UPXXGTE03NR9OXCBHJ/unsplash-image-kDBMDFB2Wdg.jpg BLOG - Tips for prepping your home for top dollar - AH…THE PATH TO PEACE 1 MONTH (OR MORE) BEFORE YOU LIST Once any large-scale renovations have been addressed, you can turn your attention to the more minor updates that still play a major role in how buyers perceive your home. Make Minor Repairs Look for any unaddressed maintenance or repair issues, such as water spots, pest activity and rotten siding. This is the time to take care of those small annoyances like squeaky hinges, sticking doors, and leaky faucets, too. Many of these issues can be handled by going the DIY route and using a few simple tools. Tackle the ones you can and be sure to call a professional for the ones you’re not comfortable doing yourself. We can refer you to local service providers who can help. Remember that it’s easy to overlook these small issues because you live with them. When you work with us, you get a fresh set of eyes on your home—so you don’t miss any repairs that could make a big difference to buyers. Refresh Your Design This is a great time to think about some simple design updates that can make a significant impression on buyers. For example, a fresh coat of paint is an easy and affordable way to spruce up your home. One survey found that interior paint offered a 107% return on investment. For broad appeal, opt for warm, neutral colors. We can help with choosing that too. Never underestimate the importance of good curb appeal. Homes with good curb appeal sell for 7% more, on average, than similar homes with an “uninviting exterior.” If weather permits, lay fresh sod where needed, plant colorful flowers, and add some new mulch to your beds. Even just repositioning your furniture can make a huge difference to buyers. A survey by the Real Estate Staging Association found that staged homes sold faster, and 73% sold over list price. We have an interior designer who can offer insights and suggestions. Declutter and Depersonalize Doing a little bit of decluttering every day is a lot easier than trying to take care of it all at once right before your home hits the market. A simple strategy is to do this one room at a time, working your way through each space whenever you have a bit of free time. We’ll help with this process. Start by donating or discarding items that you no longer want or need. Then pack up any seasonal items, family photos, and personal collections you can live without for the next few weeks. Bonus: This will give you a head start on packing for your move! https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/3933b7ca-190e-47b9-9df3-3ad28d0e1b05/roam-in-color-RryFk4n-vOs-unsplash.jpg BLOG - Tips for prepping your home for top dollar - EVEN WHEN SELLING “AS-IS”, IT’S WORTH THE EXTRA $$ YOU WILL RECEIVE… 1 WEEK BEFORE YOU GO TO MARKET Now it’s time to focus on the small details that will really make your home shine. Here are a few key areas to focus on during this last week. Tidy Your Exterior You’ve already done the major landscaping—now it’s time to tackle the last few details. Make sure your lawn is freshly mowed, hedges are trimmed, and flower beds are weeded. In addition, now is the time to clean your home’s exterior if you haven’t already. If you can’t do it, hire a handyman to power wash your siding, empty the gutters, and wash all your windows and screens. Deep Clean Your Interior Do yourself a favor and bring in the pros on this. Your house should be deep cleaned before listing and we don’t always see the dust we live with…take an afternoon off-take a walk, get a massage or catch up with a friend, then come home to a sparkling clean environment. In addition to cleaning, take some time to tidy up. Buyers will look inside your closets, pantries, and cabinets, so make sure they are neat and organized. Give extra chemicals to your neighbors. Move small appliances and toiletries off of the countertops. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/0acc3a36-b04a-4640-b424-2b8f0fda8fe5/backyardtohouse+%282%29.jpg BLOG - Tips for prepping your home for top dollar - AND YOUR WORK PAYS OFF… DAY OF SHOWING Do a final walk-through and take care of these finishing touches to give potential buyers the best possible impression. Pre-Showing Prep Happy and comfortable buyers are more likely to submit offers. Make them feel at home by adjusting the thermostat to a comfortable temperature. Open any blinds and curtains throughout the house, and turn on all lights so buyers can see all the potential in your home. Then tidy up by vacuuming and sweeping floors, emptying (or hiding) trash cans, and wiping down countertops. In the bathrooms, close toilet lids and hang clean hand towels. Don’t forget to secure firearms, jewelry, sensitive documents, prescription medications, and any other items of value in a safe or store them off-site. Finally, it’s best to have pets out of the house during showings. If possible, you should also remove evidence of pets (litter box, dog beds, etc.), which can be a turn-off for some buyers. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/7263b406-c490-4a6f-835d-20e9a3d76e40/LivingRoom_BlackOffset.png BLOG - Tips for prepping your home for top dollar - FINALLY… WE REPEAT: DON’T WAIT TO PREP YOUR HOME FOR SELLING If you want to get top dollar for your home, don’t put it on the market before it’s ready. The right preparation can make all the difference when it comes to maximizing the return on your investment you will get and to help make for a smooth and completed escrow. The upgrades and changes you need to make will depend upon your home’s condition, so don’t wait to speak with an agent. Call our team if you’re thinking about selling your home, even if you’re not sure when. It’s never too early to seek the guidance of your real estate agent and start preparing your home to sell. Sources: Fortune - https://fortune.com/2022/02/08/should-i-buy-house-sellers-market-housing-real-estate-fannie-mae/ Forbes - https://www.forbes.com/advisor/home-improvement/labor-materials-shortage-impacts-renovations/ PR Web - https://www.prweb.com/releases/2012-homegain/home-improvement-survey/prweb9433460.htm Realtor Magazine - https://magazine.realtor/daily-news/2020/01/27/how-much-does-curb-appeal-affect-home-value Real Estate Staging Association - https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548 https://www.joleachman.com/blog/9-tips-for-buying-and-selling-at-the-same-time monthly 0.5 2022-05-25 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/6a206970-ec51-456a-be67-ab03c2ea31ce/midcenturyMainBedroom.jpeg BLOG - BUYING AND SELLING AT THE SAME TIME DON’T WORRY-WE’VE GOT THIS… https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/0acc3a36-b04a-4640-b424-2b8f0fda8fe5/backyardtohouse+%282%29.jpg BLOG - BUYING AND SELLING AT THE SAME TIME - “WHAT WILL I DO IF I SELL MY HOUSE BEFORE I CAN BUY A NEW ONE?” This is an understandable concern for many sellers since the competitive real estate market makes it tough to plan ahead and predict when you'll be able to move into your next home. But chances are, you will still have plenty of options if you do sell your home quickly. It may just take some creativity and compromise. Here are some ideas to make sure you're in the best possible position when you decide to list your home: https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087904355-KV05E4TM1X1PVPM73570/kichen+CU+%281%29.jpg BLOG - BUYING AND SELLING AT THE SAME TIME - Tip #1: Flex your muscles as a seller. In a competitive market, buyers may be willing to make significant concessions in order to get the home they want. In some cases, a buyer may agree to a rent-back clause that allows the seller to continue living in the home after closing for a set period of time and negotiated fee. This can be a great option for sellers who need to tap into their home equity for a downpayment or who aren’t logistically ready to move into their next home. However, many lenders limit the duration of a rent-back to 60 days, and there are liability issues to consider before entering into an agreement. A contract and security deposit should be in place in case of any property damage or unexpected repairs that may be needed during the rent-back period. Tip #2: Open your mind to short-term housing options. While it can be a hassle to move out of your old home before you’re ready to move into your new one, it’s a common scenario. If you’re lucky enough to have family or generous friends who offer to take you in, that may be ideal. If not, you’ll need to find temporary housing. Check out furnished apartments, vacation rentals and month-to-month leases. If space is an issue, consider putting some of your furniture and possessions in storage. You may even find that a short-term rental arrangement can offer you an opportunity to get to know your new neighborhood better—and lead to a more informed decision about your upcoming purchase. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646088024908-0AN9SRN9EQKSGT5T55Q2/23+corte+pinturas.png BLOG - BUYING AND SELLING AT THE SAME TIME - Tip #3: Embrace the idea of selling now and buying later. Instead of stressing about timing your home sale and purchase perfectly, consider making a plan to focus on one at a time. Selling before you’re ready to buy your next home can offer a lot of advantages. For one, you’ll have cash on hand from the sale of your current home. This will put you in a much better position when it comes to buying your next home. From budgeting to mortgage approval to submitting a competitive offer, cash is king. And by focusing on one step at a time, you can alleviate some of the pressure and uncertainty. “WHAT IF I GET STUCK WITH TWO MORTGAGES AT THE SAME TIME?” This is one of the most common concerns that we hear from buyers who are selling a home while shopping for a new one, and it’s realistic to expect at least some overlap in mortgages. To make sure you don't get into a situation where you are carrying dual mortgages for longer than you can afford, examine your budget and calculate the maximum number of months you can afford to pay both. If you simply can’t afford to carry both mortgages at once, then selling before you buy may be your best option. (See Tip #3 above.) But if you have some flexibility in your budget, it is possible to manage both a home sale and purchase simultaneously. Here are some steps you can take to help streamline the process: https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087702086-W8RTGEVQ9A52XGZDRDR6/bluebird_ln_1735_5_33854_mls.jpg BLOG - BUYING AND SELLING AT THE SAME TIME - Tip #4: As you get ready to sell, simplify. You can condense your sales timeline if you only focus on the home renovations and tasks that matter most for selling your home quickly. For example, clean and declutter all of your common areas, refresh your outdoor paint and curb appeal, and fix any outstanding maintenance issues as quickly as possible. But don't drain unnecessary time and money into pricey renovations and major home projects that could quickly bog you down for an unpredictable amount of time. We can advise you on the repairs and upgrades that are worth your time and investment. Tip #5: Prep your paperwork. You'll also save valuable time by filing as much paperwork as possible early in the process. For example, if you know you'll need a mortgage to buy your next home, get pre-approved right away so that you can shorten the amount of time it takes to process your loan. Similarly, set your home sale up for a fast and smooth transition by pulling together any relevant documentation about your current home, including appliance warranties, renovation permits, and repair records. That way, you're ready to provide quick answers to buyers' questions should they arise. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/e1e6d6ca-f906-4bc2-94d6-f27ea1f72e48/front.jpg BLOG - BUYING AND SELLING AT THE SAME TIME - Tip #6: Ask us about other contingencies that can be included in your contracts. Part of our job as agents is to negotiate on your behalf and help you win favorable terms. For example, it’s possible to add a contingency to your purchase offer that lets you cancel the contract if you haven't sold your previous home. This tactic could backfire, though, if you're competing with other buyers. We can discuss the pros and cons of these types of tactics and what’s realistic given the current market dynamics. “WHAT IF I MESS UP MY TIMING OR BURN OUT FROM ALL THE STRESS?” When you're in the pressure cooker of a home sale or have been shopping for a home for a while in a competitive market, it's easy to get carried away by stress and emotions. To make sure you're in the right headspace for your homebuying and selling journey, take the time to slow down, breathe and delegate as much as possible. In addition: https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/099888b9-786e-42f3-b8bf-aebf961b00f5/FRONT+CLOSER+UP+.jpeg BLOG - BUYING AND SELLING AT THE SAME TIME - Tip #7: Relax and accept that compromise is inevitable Rather than worry about getting every detail right with your housing search and home sale, trust that things will work out eventually––even if it doesn't look like your Plan A or even your Plan B or Plan C. Perfecting every detail with your home decor or timing your home sale perfectly isn't necessary for a successful home sale and compromise will almost always be necessary. Luckily, if you've got a good team of professionals, you can relax knowing that others have your back and are monitoring the details behind the scenes. Remember that rules-of-thumb and home-buying trends are just that: they are estimates, not facts. So if your home search or sale isn't going exactly like your neighbor’s, it doesn't mean that you are doomed to fail. Tip #8: Don't worry too much if your path is straying from convention It's possible, for example, that seasonality trends may affect sales in your neighborhood. So a delayed sale in the summer or fall could affect your journey––but not necessarily. According to the National Association of Realtors, the housing market tends to be more competitive during the summer and less competitive during the winter. But it's not a hard and fast rule, and every real estate transaction is different. That's why it's important to talk to a local agent about your specific situation. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/7263b406-c490-4a6f-835d-20e9a3d76e40/LivingRoom_BlackOffset.png BLOG - BUYING AND SELLING AT THE SAME TIME - Tip #9: Enlist help early. Which leads us to our final tip: If possible, call us early in the process. We'll not only provide you with key guidance on what you should do ahead of time to prepare your current home for sale, we'll also help you narrow down your list of must-haves and wants for your next one. That way, you'll be prepared to act quickly and confidently when it’s time to list your house or make an offer on a new one. It's our job to guide you and advocate on your behalf. So don't be afraid to lean on us throughout the process. We’re here to ease your burden and make your move as seamless and stress-free as possible. BOTTOM LINE: COLLABORATE WITH A REAL ESTATE PROFESSIONAL TO GET TAILORED ADVICE THAT WORKS FOR YOU Buying and selling a home at the same time is challenging. But it doesn't have to be a nightmare, and it can even be fun. The key is to educate yourself about the market and prepare yourself for multiple scenarios. One of the best and easiest ways to do so is to partner with a knowledgeable and trustworthy agent. A good agent will not only help you evaluate your situation, we will also provide you with honest and individually tailored advice that addresses your unique needs and challenges. Depending on your circumstances, now may be a great time to sell your home and buy a new one. But a thorough assessment may instead show you that you're better off pausing your search for a while longer. Contact us for a free consultation so that we can help you review your options and decide the best way forward. https://www.joleachman.com/blog/hedge-against-inflation monthly 0.5 2022-03-04 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/4d9febf9-2c15-434c-b4c9-2b7fa078fb84/marchBlogImage.jpg BLOG - Hedge Against Inflation - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/3c6a6883-c711-49ab-b199-782da6c3036c/AdobeStock_450194155.jpeg BLOG - Hedge Against Inflation WHAT IS INFLATION AND HOW DOES IT IMPACT ME? Inflation is a decline in the value of money. When the rate of inflation rises, prices for goods and services go up. Therefore, a dollar buys you a little bit less with every passing day. The consumer price index, or CPI, is a standard measure of inflation. Based on the latest CPI data, prices increased 7.5% from January 2021 to January 2022. A little bit of inflation is considered healthy for the economy, but 7.5% in a single year is high. How does inflation affect your life? Here are a few of the negative impacts: Decreased Purchasing Power We touched on this already, but as prices rise, your dollar won’t stretch as far as it used to. That means you’ll be able to purchase fewer goods and services with a limited budget. Increased Borrowing Costs In an effort to curb inflation, the Federal Reserve is expected to raise the federal funds rate. Therefore, consumers are likely to pay a higher interest rate on new mortgages, car loans, and variable-rate credit cards. Lower Standard of Living Wage growth tends to lag behind price increases. According to Moody Analytics, when adjusted for inflation, average weekly earnings in January were down 3.1% from a year earlier. As such, life is becoming less affordable for everyone. Inflation can force those on a fixed income, like retirees, to make lifestyle changes and prioritize essentials. Eroded Savings If you store all your savings in a bank account, inflation is even more damaging. As of February 2022, the national average interest rate for a savings account is 0.06%, not nearly enough to keep up with inflation. And economists don’t expect that rate to go much higher. One of the best ways to mitigate these effects is to find a place to invest your money other than the bank. Even though interest rates are expected to rise, they’re unlikely to get high enough to beat inflation. If you hoard cash, the value of your money will decrease every year and more rapidly in years with elevated inflation. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/df08fdb3-78e1-494c-bf0e-43aeacc317ab/CondoRentalLook.jpeg BLOG - Hedge Against Inflation REAL ESTATE: A PROVEN HEDGE AGAINST INFLATION So where is a good place to invest your money to protect (hedge) against the impacts of inflation? There are several investment vehicles that financial advisors traditionally recommend, including: Stocks Some people invest in stocks as their primary inflation hedge. However, the stock market can become volatile during inflationary times, as we’ve seen in recent months. Commodities Commodities are tangible assets, like oil, livestock, and minerals. The theory is that the price of commodities should climb alongside inflation. But the classic choice–gold–hasn’t risen consistently during periods of inflation since the 1970s, according to data from Morningstar Direct. Inflation-Indexed Bonds Treasury inflation-protected securities, or TIPS, are U.S. government-issued bonds that are indexed to the inflation rate. Bonds are considered low risk, but the returns they offer are generally low, as well. Real Estate Real estate prices across the board tend to rise along with inflation and often rise faster than inflation. That’s one of the reasons demand for real estate is soaring right now. We believe real estate is the best hedge against inflation. Owning real estate does more than protect your wealth—it can actually make you money. For example, home prices rose nearly 17% from 2020 to 2021, 10% ahead of the 7% inflation that occurred in the same timeframe. Plus, certain types of real estate investments can help you generate a stream of passive income. In the past year, property owners didn’t just avoid the erosion of purchasing power caused by inflation; they got ahead. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/7541f6b5-f8c0-44e6-bcff-c7abb544eb01/rentalKitchen.jpeg BLOG - Hedge Against Inflation TYPES OF REAL ESTATE INVESTMENTS Though there are myriad ways to invest in real estate, there are three basic investment types that we recommend for beginner and intermediate investors. Remember that we can help you determine which options are best for your financial goals and budget. Primary Residence If you own your home, you’re already ahead. The advantages of homeownership become even more apparent in inflationary times. As inflation raises prices throughout the economy, the value of your home is likely to go up concurrently. At the same time, you’ve locked in a set mortgage payment for the next 30 years, so you’ll be immune to rising rental costs. If you don’t already own your primary residence, homeownership is a worthwhile goal to pursue. Though the task of saving enough for a down payment may seem daunting, there are several strategies that can make homeownership easier to achieve. If you’re not sure how to get started with the home buying process, contact us. Our team can help you find the strategy and property that fits your needs and budget. Whether you already own a primary residence or are still renting, now is a good time to also start thinking about an investment property. The types of investment properties you’ll buy as a solo investor generally fall into two categories: long-term rentals and short-term rentals. Long-Term (Traditional) Rentals A long-term or traditional rental is a dwelling that’s leased out for an extended period. An example of this is a single-family home where a tenant signs a one-year lease and brings all their own furniture. Long-term rentals are a form of housing. For most tenants, the rental serves as their primary residence, which means it’s a necessary expense. This unique quality of long-term rentals can help to provide stable returns in uncertain times, especially when we have high inflation. To invest in a long-term rental, you’ll need to budget for maintenance, repairs, property taxes, and insurance. You’ll also need to have a plan for managing the property. But a well-chosen investment property should pay for itself through rental income, and you’ll benefit from appreciation as the property rises in value. We can help you find an ideal long-term rental property to suit your budget and investment goals. Reach out to talk about your needs and our local market opportunities. Short-Term (Vacation) Rentals Short-term or vacation rentals function more like hotels in that they offer temporary accommodations. A short-term rental is defined as a residential dwelling that is rented for 30 days or less. The furniture and other amenities are provided by the property owner, and today many short-term rentals are listed on websites like Airbnb and Vrbo. A short-term rental can potentially earn you a higher return than a long-term rental, but this comes at the cost of daily, hands-on management. With a short-term rental, you’re not just entering the real estate business; you’re entering the hospitality business, too. Done right, short-term rentals can be both a hedge against inflation and a profitable source of income. As a bonus, when the home isn’t being rented you have an affordable vacation spot for yourself and your family! Contact us today if you’re interested in exploring options in either the long-term or short-term rental market. Mortgage rates are expected to rise, so you’ll want to act fast to maximize your investment return. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/00d35f4e-36a9-4c93-b7c6-baa72efe8373/GentleWave.jpeg BLOG - Hedge Against Inflation Sources: Bloomberg - https://www.bloomberg.com/news/articles/2022-02-10/u-s-inflation-charges-higher-with-larger-than-forecast-gain CNN - https://www.cnn.com/2022/01/01/economy/inflation-prices-2022-preview/index.html CNBC - https://www.cnbc.com/2022/01/26/the-fed-sets-the-stage-for-a-rate-hike-heres-what-that-means-for-you.html Reuters - https://www.reuters.com/business/us-consumer-prices-rise-strongly-january-weekly-jobless-claims-fall-2022-02-10/ NBC News - https://www.nbcnews.com/business/markets/market-slide-dow-falls-700-points-sp-enters-correction-territory-rcna13304 CNBC - https://www.cnbc.com/2021/12/20/gold-is-losing-its-status-as-an-inflation-hedge-two-traders-warn.html Morningstar - https://www.morningstar.com/articles/1079158/why-are-inflation-protected-bond-funds-losing-money The Washington Post - https://www.washingtonpost.com/business/2022/01/04/heres-how-inflation-could-affect-your-next-real-estate-move/ Bloomberg - https://www.bloomberg.com/news/articles/2022-01-24/is-real-estate-a-good-investment-hedge-against-inflation-what-the-experts-say CNN - https://www.cnn.com/2022/01/20/homes/us-nar-home-sales-december-and-2021/index.html https://www.joleachman.com/blog/8-popular-design-features-2022 monthly 0.5 2022-02-25 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/729475b4-1387-4b87-9da8-4b6d0aa61ee2/February-2022-MVP-Blog-Post-Image.jpg BLOG - 8 popular home design features for 2022 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1644864095505-GL2JO749XDC3CKJZ93AD/unsplash-image-yq32iG6F36w.jpg BLOG - 8 popular home design features for 2022 - Eco-Friendly Fixtures Millennials account for the largest share of current homebuyers, according to the National Association of Realtors. Sustainable living tops the list of priorities for this generation. A recent Deloitte survey found that nearly one-third of millennials initiate or deepen their consumer investment in products or services that help the environment—this also includes the houses they choose to live in. Here are a few eco-friendly design features that will be attractive to these millennial buyers in 2022. Bonus, they can net a significant return on investment (ROI) for you, as a seller, too. Energy-Efficient Windows: Heat gain or loss from low-performance windows drives 25–30 percent of home heating and cooling costs, according to Energy.gov. Therefore, energy-efficient windows can help homeowners save money. Low-Flow Water Fixtures: According to the EPA, replacing your shower head with one that’s labeled with WaterSense can save four gallons of water with each shower. Doing the same with your faucet can save 700 gallons per year. This leads to cost savings and environmental support. Native Landscaping: According to the American Society of Landscape Architects, 58 percent of members report increased client demand for native trees and plants as a means to combat biodiversity loss from climate change. Enhance the eco-friendly appeal of your home with some native plants in the front yard. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1644864357315-6F0UMO5MR7CY29L6VPXS/unsplash-image-3LTht2nxd34.jpg BLOG - 8 popular home design features for 2022 - Soothing Paint Colors Paint colors that produce a calming atmosphere will also be a key selling point in 2022. Soft earth tones and natural hues will prevail this year, including various shades of blue, green, brown, and beige. Recent research suggests steering clear of trendy paint colors in favor of a more classic palette to bring the feel of nature indoors in a subtle and soothing way. In fact, the same research found that buyers are often willing to pay an extra $4,698 for a house with a light blue bathroom or an extra $1,491 for a house with a dark blue bedroom. Another crowd-pleasing hue to refresh the walls with is BEHR’s 2022 paint color of the year, known as Breezeway. This shade of green with silver undertones was created to mimic sea glass. As the BEHR website describes it, Breezeway “evokes feelings of coolness and peace, while representing a desire to move forward and discover newfound passions.” https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1644863698804-NCDV6T8F11GVE2B4U201/unsplash-image-l_M3usPiEuM.jpg BLOG - 8 popular home design features for 2022 - Luxury Kitchen Retouches Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1644863321371-6ACNQEPAHKHWNBBE9TNU/unsplash-image-2d4lAQAlbDA.jpg BLOG - 8 popular home design features for 2022 - Exterior Siding Updates A new exterior siding refresh is one of the most affordable renovation projects you can do to help increase a home’s resale value. The average cost is just $12 per square foot, but higher-end material options can push costs closer to $50 per square foot. What’s more, there are many siding materials available, from fiber-cement, brick, and wood to vinyl, metal, and stone. While all these options can infuse the exterior with character and add curb appeal, fiber-cement and vinyl deliver the highest ROI. In fact, according to a 2021 Cost vs. Value Report, a vinyl siding replacement can boost resale value by $11,315 (68.3 percent cost recoup), and a fiber-cement siding replacement can boost resale value by $13,618 (69.4 percent cost recoup). Give your home this simple, affordable, and attractive facelift before putting it on the market. If you’re not sure how to get started yourself, our team can connect you with a trusted vendor to guide you through the process. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1644863464152-IFJS5F6N0IJZETJ5UIN2/unsplash-image-TZ_Aj8a5SW8.jpg BLOG - 8 popular home design features for 2022 - Unique Accent Walls In a recent interview with the National Association of Realtors, Brian Santos, the director of education for Fresh Coat Painters, explains that bold, unique accent walls are trendy right now. An accent wall gives a home character while maintaining the calming feel of natural- and neutral-colored walls. https://www.joleachman.com/blog/a-return-to-normal-the-state-of-real-estate-in-2022 monthly 0.5 2022-02-25 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/910c05c9-46a8-47ec-a0c2-3e929e869068/January-2022-MVP-Blog-Post-Image.jpg BLOG - A Return to ‘Normal’? The state of real estate in 2022 - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/3c6a6883-c711-49ab-b199-782da6c3036c/AdobeStock_450194155.jpeg BLOG - A Return to ‘Normal’? The state of real estate in 2022 - MORTGAGE RATES WILL CREEP UP Most economists expect to see mortgage rates gradually rise this year after hitting record lows in late 2020 and early 2021. Freddie Mac forecasts the 30-year fixed-rate mortgage will average 3.5% in 2022, up from around 3% in 2021. The Mortgage Bankers Association predicts that rates will tick up to 4% by the end of the year. “Mortgage lenders and borrowers should expect rising mortgage rates over the next year, as stronger economic growth pushes Treasury yields higher,” said Mike Fratantoni, chief economist for the Mortgage Bankers Association at their 2001 Annual Convention & Expo in October. However, it’s important to keep in mind that even a 4% mortgage rate is low when compared to historical standards. According to industry trade blog The Mortgage Reports, “Between 1971 and December 2020, 30-year mortgage rates averaged 7.89%.” What does it mean for you? Low mortgage rates can reduce your monthly payment and make homeownership more affordable. Fortunately, there’s still time to lock in a historically-low rate. Whether you’re hoping to purchase a new home or refinance an existing mortgage, act soon before rates go up any further. We’d be happy to connect you with a trusted lending professional in our network. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/e1e6d6ca-f906-4bc2-94d6-f27ea1f72e48/front.jpg BLOG - A Return to ‘Normal’? The state of real estate in 2022 - What does it mean for you? If you struggled to buy a home last year, there may be some relief on the horizon. Increased supply and softening demand could make it easier to finally secure the home of your dreams. If you’re a seller, it’s still a great time to cash out your big equity gains! And with more inventory on the market, you’ll have an easier time finding your next home. Reach out for a free consultation so we can discuss your specific needs and goals. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/3933b7ca-190e-47b9-9df3-3ad28d0e1b05/roam-in-color-RryFk4n-vOs-unsplash.jpg BLOG - A Return to ‘Normal’? The state of real estate in 2022 - RENTS WILL CONTINUE TO RISE Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/099888b9-786e-42f3-b8bf-aebf961b00f5/FRONT+CLOSER+UP+.jpeg BLOG - A Return to ‘Normal’? The state of real estate in 2022 - What does it mean for you? Both property and rent prices are expected to continue rising. But when you purchase a home with a fixed-rate mortgage, you can rest assured knowing that your monthly mortgage payment will never go up. Whether you’re a first-time homebuyer or a real estate investor, we can help you make the most of today’s real estate market. https://www.joleachman.com/home daily 1.0 2026-03-11 https://images.squarespace-cdn.com/content/v1/5ec321c2af33de48734cc929/1618497259178-6XJGK9GR6YAVBQL5L519/20140301_Trade-151_012-2.jpg Home https://images.squarespace-cdn.com/content/v1/5ec321c2af33de48734cc929/1607694583486-2PQT0LQ193RL7MCB6DX4/20140228_Trade+151_0046.jpg Home https://images.squarespace-cdn.com/content/v1/5ec321c2af33de48734cc929/1607694644871-IC85FNH781UNZSZEGHDR/Aro+Ha_0428.jpg Home https://images.squarespace-cdn.com/content/v1/5ec321c2af33de48734cc929/1589847767761-J2M1HI20BXRQ9XCR0HUD/Large+JPG-Aro+Ha_0387.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646084144401-NATTS9ZNF866LSNBLRMU/1693+Docena+%281%29.png Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646084347511-UJ3DDFDOKWA3CPL1EU1H/straightOn2.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646084477939-E0XB5QV153FE6FQPM6IB/1front+head+on.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087206462-7H6FKUNEC55W5S4E4UV8/7219+mimosa+view.png Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087584009-J3UN3TWF0IXOSMBUPAFQ/gatepostExt.png Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087642793-WXRN9FL5V9X5DQYSNOJ8/941+Hawthorn.png Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087702086-W8RTGEVQ9A52XGZDRDR6/bluebird_ln_1735_5_33854_mls.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087750351-42NJBTBIH12ITMPTXILC/backyardtohouse+%282%29.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087904355-KV05E4TM1X1PVPM73570/kichen+CU+%281%29.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646087978207-LGZDCW16ZC1YLZ29WBG8/deck+looking+west.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1646088024908-0AN9SRN9EQKSGT5T55Q2/23+corte+pinturas.png Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/34391d71-eacb-43dc-8348-aad32cd82128/Screen+Shot+2023-08-16+at+12.13.10+PM.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/29a95824-8cc3-41a0-8a84-595033a5c04c/3755VISTACAMPANAn%2311NEW.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/5f3827bf-a17a-4d42-b6c5-2865c7ec6c68/Torrejon-MLS-19backofhouse.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1717726514751-EVGSH93U1J2IO620GQ3E/image-asset.jpeg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/8eea27a6-537d-4d12-8963-7fee9875819c/ext.jpg Home https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/d6c94314-f05c-4b34-ad1f-fef78c939d91/SittingWithCoffeeforHBD.jpeg Home - Meet Jo I know I have an L.A. phone number but I've been in S.D. County since 2005...I am your local choice:))) Take a moment to read my client reviews (below). You will see that this is not just about ripping through deals for me. It’s about guiding you to decisions leading to you reaching your goals. My professional background rooted in the film industry allows me to manage high-pressure transactions with the same calm efficiency used to oversee film and TV productions. I bring a creative approach to problem solving-which helps clients navigate complex deals with ease. My priority is to be a steady advocate balancing deep market knowledge with a reassuring, stress-free experience. Call me for an experience where you will feel supported and informed at every step. Partner with me for a professional, honest, and results-driven real estate journey in Southern California. Let’s go. P.S. I can help you find an Agent anywhere in the US and in many countries internationally….let’s get that second house you dream of every night. Tuscany, Paris, London….here you come. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/8d72204d-b7ea-415c-a1c3-cd902497335d/BUYING_Image.png Home - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/2353d934-6bcb-4cde-bda5-a8e8267452f0/SELLING_Image.png Home - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.joleachman.com/about daily 0.75 2026-03-10 https://images.squarespace-cdn.com/content/v1/5ec321c2af33de48734cc929/1618497259178-6XJGK9GR6YAVBQL5L519/20140301_Trade-151_012-2.jpg ABOUT https://images.squarespace-cdn.com/content/v1/5ec321c2af33de48734cc929/1607694644871-IC85FNH781UNZSZEGHDR/Aro+Ha_0428.jpg ABOUT https://images.squarespace-cdn.com/content/v1/5ec321c2af33de48734cc929/1589847767761-J2M1HI20BXRQ9XCR0HUD/Large+JPG-Aro+Ha_0387.jpg ABOUT https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1495e4e9-a485-421a-9113-2b91790c0f3f/AdobeStock_396811735.jpg ABOUT https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/d2e7a6d8-c5bb-4764-84b1-0b59c443fc9f/oncouchedited+cropped.jpeg ABOUT - Hello My job is to help you to get the best return on you investment-whether you are buying or selling; however, the real estate experience is also a very personal one. My mission includes understanding your core needs so that I can anticipate hurdles and clear the path , minimizing your stress throughout. My toolbox has been filled by both the extensive programs available to Compass clients and the skills learned in previous work lives. I started out as a Paralegal, learning the ability to explain legal concepts as a practical matter. A healthy portion of my life has been spent in Film/TV production arena. The unique "film-to-real-estate" transition allows for smooth management . As your trusted teammate in this journey, years of dealing with multiple projects concurrently involving divergent personalities results in flexible negotiating and creative problem solving skills. Compromise does not mean giving in. It means finding a way for all parties to feel their needs have been served by the resolution. Finally, it's important for me to feel I am being of service to others, so you may find me helping you to prep your home for the move and your next adventure. Don't worry, it'll be fun :) Partner with me for a professional, reassuring, honest and results-driven real estate journey in Southern California. NOW, LET’ S GET TOGETHER AND TALK ABOUT YOU. https://www.joleachman.com/contact daily 0.75 2025-09-02 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/2f1581b1-52a6-4ea3-9987-cf10b9570f98/compassblackonwhitewithline.jpg CONTACT - Make it stand out Whatever it is, the way you tell your story online can make all the difference. https://www.joleachman.com/buying daily 0.75 2022-03-23 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1644886753248-URIM222NR2N8ZGNV6WED/AdobeStock_57496553.jpeg BUYING https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1644887698871-ZQZUX3I4W2NIXZGVFTZH/AdobeStock_423594187.jpeg BUYING https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1644887862445-MLPVCZR0FFIHR7GH7WHK/AdobeStock_452795828.jpeg BUYING https://www.joleachman.com/selling daily 0.75 2022-06-24 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1645658611171-AT1SQFRGXK0K6WNK6E8A/AdobeStock_67165304.jpeg SELLING https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1645658637749-DMUHXQ6NXEKRNCFALV8I/AdobeStock_320874238.jpeg SELLING https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1655182746605-XSTGV4R132548XB87E6G/CoupleInHammock.jpeg SELLING https://www.joleachman.com/about-the-area daily 0.75 2022-11-30 https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1669842017985-F37Y96WFAAZEC9T306BQ/unsplash-image-XWZ3cObZuso.jpg https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1669846296608-UCDU09NE8YGSPE02YHZS/unsplash-image-w1sYdquxs-I.jpg https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1669846513268-09I93D0BW5WA1MY3DTS9/unsplash-image-JpHuBfpc71I.jpg https://images.squarespace-cdn.com/content/v1/61fd8d6e6708ff72c773994c/1669843314089-4URGK7WBIV4GWOMDXQVP/unsplash-image-teW93KGEt6s.jpg