It appears we’ve had quite a shift in our marketplace! It was just a few months ago, in August, that we were still seeing serious buyer activity and multiple offers on the under $1,000,000 properties. Since then, showings have dissipated and the number of offers have dropped off significantly.

There could be a number of reasons for this, including interest rate increases, the elections, buyers’ distrust of pricing and a fear of a potential dip, the holidays and general confidence level (or lack thereof) in today’s financial markets. So what do buyers and sellers need to think about in this sort of marketplace?

First off, homes are still selling. If you need or want to sell, Sellers need to know that although they may not be getting multiple offers and their properties may be on the market longer than the average property sale from the last few years, prices are still relatively high. We’ve had consistent appreciation the last 6-8 years, so you will probably be selling at an all time high value. Remember, this is a more normalized and typical marketplace. We had so much pent up demand for so many years, we began to think that was normal but it is not historically. Sellers need to spruce up their homes to be competitive and price properly. This will result in a sale.

If you’re a buyer in this marketplace, know that inventories are rising and therefore, you may have a better selection of homes, therefore, getting something that if a good fit. If you’re afraid of prices and fear a dip, know that you should be looking just as hard at your payment than at that price. Even if you were to wait until prices go down (which may or may not occur), you’re payment could actually go up if interest rates continue to rise. Also, if you’re currently renting, you’ve seen rental rates increasing at record levels. Would you rather give tens of thousands of dollars to someone else, or build equity and get a tax break in a place you can call your own?

So what do you do now? Call and we can discuss your situation and all of your options so you can make the best decision going forward. Consultations are free and at no obligation. I’m here to help!

You think decking the halls and hanging the stockings on the chimney with care is all you have to worry about this holiday season? Think again. Owning a home is more than just decorating your digs. There are a few precautions you should take to get your house ready for the winter season. Let’s go over your homeowner’s winter holiday checklist.

 

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Clog Up the Drafty Areas

One of the most expensive aspects of winter is the costs of staying warm. An easy fix is to find where the hot air is going out…and where the cold air is coming in! Check entryways such as doors and windows.

 

For gaps between the door and floor, get a draft stopper. These cushy strips fit around the bottom of the door and are snug to the floor. That way, no air gets in or out.

 

Also, look at your windows. Caulk around the doors and windows and use weatherstripping. Also, get some foam insulation to put around electrical outlets. That way, cold air doesn’t come through those little holes in the wall.

 

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Make Your Thermostat Smarter

Having a programmable thermostat is a great way to stay ahead of your heating costs. In a mad dash out for the day, we can forget to turn off the furnace. Therefore, you have a nice and toasty house for no one all day long.

By having a programmable thermostat, you need to set the times and temps you want once. From there, it takes care of itself. You can go about your business and have the ideal temperatures whenever you want them.

 

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Clean the Gutters

The outdoors needs care too. Fall time means a lot of fallen leaves. This is a nightmare for gutters. In the winter season, snow is going to come and go. Therefore, the gutters need to be readily available to move the water away from the roof and foundation.

 

By leaving the leaves in there, it allows for moisture to build up. This will turn to ice is the colder part of winter. This may become too much for your gutters to handle and can cause damage.

 

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Turn off Outside Water Sources

Chances are you won’t be watering your grass or cleaning your car this winter. Therefore, turn the main water source to outdoor faucets off. Otherwise, water running through my freeze. This can cause the pipes to end up bursting!

 

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Inspect Your Fireplace

Thinking of starting a fire? Have someone check it out first. As the months get cold, animals may set up shop inside of your chimney to keep warm. If you do use your fireplace, make sure to close the damper when it’s not in use. Otherwise, you lose all the hot air!