House hunters will likely wonder about the age and upkeep of certain big-ticket features in a home like the roof and HVAC system. But they will also likely be interested in just how move-in ready the home is. Sellers can take on some prep work to get their house move-in ready to appeal to the largest buyer pool.

HomeLight, a real estate referral company, recently interviewed real estate agents to list some of the top remodeling projects before selling a home. Some of the projects that topped their list:

1. Painting

• Average project cost: $954 to $2,893 (depending on location, paint type, and labor)

Stick with neutral colors throughout, like whites, beiges, or soft grays. “It’s fine when there’s an accent wall or whatever; that’s different,” MaryBeth Harrison, a real estate professional in Dallas, told HomeLight. “But when every room’s a different color …  that’s cheap to fix with paint.” More than half of real estate professionals surveyed by HomeLight said they advise sellers to paint their interiors before listing. Some of the most popular colors: Sherwin-Williams Agreeable Gray and Benjamin Moore’s Revere Pewter.

2. Keep flooring consistent

• To install carpet: $789 to $2,794
• To install hardwood floors: $2,493 to $6,754
• To install vinyl floors: $800 to $2,900

Real estate pros may be more likely to recommend this house project if the home has several different kinds of flooring throughout. A more uniform flooring look—one or two types—can be more appealing to buyers. Real estate pros say that many buyers may expect hardwood floors or premium vinyl. But not all carpeting has to go. However, many real estate pros do suggest removing any dated carpet, like those in bright colors, as well as any stained or worn carpet.

3. Brighten the kitchen

• Average project cost: $382 to $1,064 (depending on equipment and labor); $2 to $20 per piece of hardware

White-colored kitchens remain the most popular. They can brighten the look of the space. “What the buyers are looking for today is white and clean—they just want clean,” Harrison told HomeLight. “It doesn’t have to be stark white. But they just want a clean palette.”

Dated kitchen cabinets can be painted by a pro for a quick fix. If the kitchen has other colors throughout, real estate pros recommend painting the walls white to try to brighten the space. Also, kitchen cabinets can get an upgrade with new hardware, such as hand pulls.

4. Replace dated countertops and appliances

• Average project cost: $40 to $100 per square foot for new countertops (depending on material); $1,360 to $19,050 for appliances

Dated appliances and countertops can turn off buyers. If replacing the countertop, Harrison suggests a bright, monochromatic look, such as a gray or white countertop made of granite, marble, or quartz. Butcher block countertops could be a more cost-effective option. Harrison advises against brown or multicolored granite, which she says can date a home. She also recommends not replacing a countertop if the rest of the kitchen has not been upgraded and is dated. New countertops will look out of place.

5. Hire a professional cleaner for your bathroom

• Average project cost: $70 to $85 per hour for a professional

A thorough cleaning of the bathroom can make a big difference, and often a professional cleaner can do the most thorough job. Pay attention to tile grout lines and any signs of mildew.

Zillow Group’s ambitious tech-fueled bid to shake up how people buy and sell homes is coming to a surprising end.

The Seattle online real estate giant said today it will shut down Zillow Offers, its iBuying program that aims to digitize and accelerate how people sell their home.

Approximately 25%, or about 2,000 people, will be laid off as a result of Zillow Offers closing. The company will take a write-down of more than $500 million related to the shutdown.

The decision is a remarkable reversal from the company’s home sales operation that represented a fundamental shift away from Zillow’s core business when it began rolling out in 2018. Zillow was pinning its future on Zillow Offers, beyond its bread-and-butter money-maker as a home price estimate platform and lead generator for agents. It originally projected annual revenue of $20 billion by 2024 off 5,000 home sales per month from the home-flipping program, which was billed as a way for consumers to avoid the hassle, time commitment and uncertainty of a traditional sale. To read full blog: https://www.geekwire.com/2021/zillow-shutter-home-buying-business-lay-off-2k-employees-big-real-estate-bet-falters/

Senate Bill 9 is a 2021 California state law that allows up to 4 homes in most single-family zones, regardless of local zoning. You can use SB9 to split your lot, add a 2nd home to a lot, or both (split lot and have 2 homes on each lot for a
total of 4 homes). SB9 takes effect on January 1, 2022.
SB9 – Senate Bill 9 Summary
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SB9 makes it possible for homeowners in CA to divide their property into two lots. It allows two homes to be built on each of those lots, with the effect of legalizing fourplexes in areas that previously only allowed one home (SFR) – There is no requirement as to whether the two residential units on each lot be a “duplex,” or attached to each other, or free-standing.
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Requires the City to approve either or both:
– A housing development of no more than two units (duplex) in a single-family zone.
– Allows for a lot split to take place (a single-family lot becoming two lots).
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Prohibits the City from requiring more than one parking space per unit.
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The new law will mark a shift from current policies that allow only two large units — a stand-alone house and an accessory dwelling unit — on single-family lots, as well as an attached junior unit no larger than 500 square feet.
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Requirements:
– The parcel is within a single-family residential zone.
– Property owners have signed an affidavit stating they will occupy 1 of the housing units as a primary residence for
at least 3 years after splitting the property or the addition of units.
– Lot splits create two parcels of similar size that are at least 1200 square feet.
– Proposals must adhere to local objective zoning and design standards unless those standards would have the effect of physically precluding the construction of up to 2 units on each lot.

A sellers’ market is a sales environment in which the number of willing purchasers far outnumbers the available product. It basically means that there is a lot of demand for a product that is in short supply. In a sellers’ market, heated bidding wars and heightened competitiveness among buyers are common outcomes. This is an excellent situation for sellers because consumers have fewer options, allowing them to negotiate better deals and higher prices for the things they are selling. It gives the sellers a lot more power.

The term “sellers’ market” is widely used in the real estate industry. It indicates that there are more willing home buyers than available homes on the market. It improves the likelihood that numerous potential purchasers may show interest in a particular property, giving the seller additional bargaining power. As a result, in a sellers’ market, purchasers must move and react swiftly.

A potential sellers’ market in the real estate sector can be influenced by a series of causes. The exact geography, for example, is quite important. When industries and businesses relocate to the area, certain communities may see population increases. As a result, population growth accelerates, increasing competition among homebuyers.

Another factor could be the time of year. Did you realize there’s a season for selling houses? This usually occurs during the summer months, beginning around April and lasting throughout July. As a result, there are fewer homes available for purchase during the winter months, resulting in a seller’s market.

Furthermore, interest rate changes can cause specific markets to react. As mortgage interest rates fall in a given region, more and more people qualify for a loan, resulting in a surge in property purchases and a sellers’ market.

Difference Between a Sellers’ Market and A Buyers’ Market

The distinction between these two is straightforward: they are totally opposite. A buyers’ market is one in which there is more merchandise than willing buyers. This is a frequent real estate term that refers to when there are more homes for sale than there is demand for them.

Because the buyer has so many more options, they can get better bargains and pricing on the house they want to buy. The buyer has increased negotiating power, which might result in significant price and value reductions.

Key Signs of a Brewing Sellers’ Market

If you want to sell a home in your neighborhood, you might want to wait for these ideal conditions. There are several ways to tell if your local area is heading for a sellers’ market.

1. Check out the area real estate listings to get a better idea. There should be very few properties for sale in a seller’s market. In this climate, houses sell quickly, leaving purchasers with little options. This is a clear indication of a saleable condition.

2. Another tell-tale indicator are fierce bidding wars. Multiple purchasers may be interested in a single house because there are fewer options for home buyers to choose from. This frequently results in the property selling for more than its original listing price.

3. Increased home prices and property values could be another indicator. The increasing competition for properties among purchasers frequently causes property values in the area to skyrocket. This is a perfect situation for individuals wishing to sell a home quickly and for a higher price. You’ll get more bang for your buck.

If you’re thinking of selling your house before the end of the year, you should start planning now. When it comes to selling real estate, the sooner the better. But don’t be dismayed if you, like many others, find yourself in the fourth quarter of 2021 and still want to sell your home. Mortgage rates are now low, and properties for sale are scarce. These are ideal conditions for potential sellers. These low rates, however, will not persist forever in the natural cycle of things. The home market will gradually begin to recover as more sellers become aware of the situation.

The spring and summer are the finest times of year to sell a home. The “selling season” usually begins in May and lasts through July, and this past summer has been particularly favorable for home sellers. Naturally, this varies by region, but statistically speaking, that is the greatest time to sell.

According to Zillow, a real estate analytic company: “Generally, the best time to sell a home to maximize return and minimize time on the market is May 1 to May 15. Homes sold in the first half of May sell six days faster and for $1,600 more than the average listing.”

Don’t worry if you missed that ferry. It doesn’t rule out the possibility of selling your home in the fall or winter. These figures simply indicate that selling early in the year is easier and faster.

However, the housing market has performed exceptionally well this year. Despite the pandemic-related unemployment weariness, conventional home prices soared by as much as 24 percent at the start of the year. Even while these prices and rates are starting to cool and come back down to earth, the aftershocks of this historic spike may be felt well into next year. Especially as a growing number of people return to work.

Another factor to consider is the inventory (home) gap that exists across the United States. Fewer homes are being listed for sale at the moment, creating an extremely favorable environment for potential sellers. However, these conditions do not endure indefinitely, and if you were planned to sell, it would be in your best interest to do it now, or as soon as possible. By the year 2022, the market may have returned to competitive levels, making it more difficult to sell your house. However, in the majority of cities and areas across the United States, the market remains extremely low. The housing market in metropolitan areas is still witnessing large reductions. For example, in the last year, the population of Austin, Texas has decreased by a startling -72.7 percent.

For a large chunk of the country, selling a home has never been easier than it is right now. Homes that are just listed are flying off the “shelves” even without the staging and “setting up.” The standard rate on a 30-year mortgage fell to 2.65 percent at the beginning of January 2021, eclipsing any previous record lows in the last 50 years.

To put it another way, if you’ve been thinking about selling your house, do it immediately or as soon as feasible (before the end of the year). The housing market is delicate, and these advantageous conditions will not last indefinitely. As more people learn about it, more homes will be placed for sale, putting the seller at a disadvantage.

A Homeowners association, or “HOA”, is a community of homeowners who abide to a governed structure formed by the neighborhood. It’s an association created to care for the neighborhood formed by the residents within that community.

The association maintains and cares for the integrity of the community, similar how a landlord takes care of apartments in a complex. There are various benefits included in belonging to an HOA, but with it, comes a roster of do’s and don’ts.

HOA’s vary in structure and requirements, so it’s important to determine if it’s right for you.

Pro: Provided Amenities

Different HOA’s provide different perks. These usually include swimming pools, workout facilities, tennis courts, playgrounds, basketball courts, and sometimes even golf courses. They are only available to the residents of the community.

These perks are free for residents to use because the maintenance costs are already added to the HOA fees. Certain communities will even host community cookouts, sporting events, and block parties. If you’re looking for a sociable community, an HOA might be right for you.

Cons: More Rules to Follow

Belonging to an HOA requires a homeowner to abide by a (potentially lengthy) roster of rules and regulations.

Some of the guidelines can be quite simple to follow, while others can be more tedious and frustrating to keep up with. These rules may include the size of your garden, fence dimensions, the number of pets allowed, and even the type of fertilizer used on your lawn.

Failing to abide by these regulations may result in expensive fines and possible expulsion from the association all together.

Pro: Aesthetically Pleasing

The plus-side to keeping up with all and any community rules is that the neighborhood is always upkept and maintained.

You won’t ever have to worry about stepping in dog poo during your morning jogs or dealing with a neighbor that has 7 “project cars” taking up space in the cul-de-sac. Certain standards are expected out of the residents to help care of the community as a collective effort.

Con: Much Less Freedom of Choice

As a member of an HOA, you cannot simply decide to change the exterior attributes of your home. Everything from painting to installing new window awnings must be approved by the board of the HOA.

Other restrictions include approved yard ornaments and even garbage can placement. Failure to comply with these strict regulations result in hefty fines and possible eviction in extreme cases.

Pro: Increased Property Value

All of these rules and regulations assure residents that no individual property will degrade and compromise the property values of other homes in the area. If you are buying a home with the intentions to sell in the future, this may be an avenue worth exploring.

According to a study conducted in 2019 by UC-Irvine, homes which were sold in HOA communities increased their value by 4% on average.

Con: Risky Fees

The benefits that an HOA offer is certainly not free and require the payment of additional fees. These fees are charged separately property taxes and monthly mortgage payments. If you’re a member, you’re responsible for these payments even if you don’t use the amenities offered.

In certain communities, failure to pay these dues may result in extreme penalties such as foreclosure and liens on your home. This means that even if your mortgage payments are caught up to date, failure to pay HOA fees can still result in foreclosure.

Do Your Research

A Homeowners Association is certainly not for everyone, but some communities can be tailored to an individual’s specifications. Plenty of homes can be bought inside and outside of an HOA. Before purchasing, never be afraid to ask questions.

It’s the most wonderful time of the year, and no, I’m not talking about Christmas…It’s summertime! There isn’t anything quite as powerful than the smell and sizzle of a burger on the grill, expect for of course, a refreshing dip in a swimming pool in your own back yard!

But all wonderful things in life accompany downsides, and swimming pools are no exception, check out this article from bankrate.com to see how a pool can add value to your home.

Less is More

This is a good mantra for everything! It’s all too easy to get caught up when driving renovation projects. But sometimes you can find the greatest renovations from taking items away, rather than adding more.

Simply eliminating clutter can make any room seem larger and easier to move around. It’ll feel like you have a whole new kitchen! Take some time and rummage through your kitchen and figure what is used daily, and what hasn’t been used in 15 years.

Estate Sales

Stores too expensive? Try your luck at an estate sale! They’re similar to garage sales but often sell much higher quality items. From wooden cookware to whole complete sets, you can usually find everything you need at estate sales. You can even find some cheap artwork that will truly let your home kitchen snap.

Various apps and websites contain rosters of when and where an estate sale is taking place in your area. The items will be slightly used, but that isn’t anything a little dish soap won’t take care of. Use your best discretion and start saving!

Open Space Shelving

These are basically cabinets without doors. Sounds goofy, but these shelves are not only stylish, but very affordable. More shelving means more workspace, which is incredibly valuable in any effective kitchen.

They allow you to customize your kitchen a unique and unorthodox fashion without devastating your bank account.

Upgrade Pre-existing Items

Before you go tearing your kitchen apart and ripping the cabinets from the wall, you might want to consider working with what you already have.

Want new cabinets? Well you don’t have to replace the entire unit. Cabinets are often perfectly fine, it’s usually the cabinet doors that require replacement. Even if you are purchasing new items, you can buy cheaper products and upgrade them yourself at half the costs.

Attend a Home Improvement Lesson

If you’re not confident in your renovation skills, don’t hire a contractor quite yet! Various businesses offer quick classes that teach people how to perform simple renovations on their own. Places like Home Depot and Farm & Fleet offer handy work shops that will give you the knowledge necessary for lite renovations.

What’s better than learning handy tips! Once you’ve acquired new skills, you’ll be able to renovate and maintain without hiring pricy contractors.

Paint and Wallpaper

Sometimes a simple paint job will make you feel like you have an entirely new kitchen! Paint is usually cheap and easy to apply by yourself. Depending on the colors you choose, creative schemes can actually make your kitchen appear larger.

Don’t like painting? Try laying wallpaper! It’s just as affordable as paint and provides the same results. Experimenting with accent colors and shades can provide you with some pretty innovative results.

Purchase “Basic” Brands

You don’t need to purchase the top-quality brands to receive top quality use from your kitchenware and accessories. If you’re feeling handy you can always purchase cheaper products (cabinets, kitchen island, etc.) and upgrade them yourself with new doors and paint jobs.

“Garnish” Your Kitchen

Leaving a bowl of fruit on the countertop is a pretty typical practice. But when you “garnish” your kitchen, it gives you a creative opportunity. Do you store a lot of dry produce like onions, garlic, and avocados? Try hanging baskets that will suspend room temp produce off of the counter space. It’s handy, saves space, and looks cool.

Creating a Focal Point

This classic tip is straight out of the artists handbook. Creating a focal point directs the eye to where you want. It gives your kitchen a symmetrical appeal that allows you to literally construct what you want your guests to see. It also gives the illusion of a larger workspace.

Don’t Buy Too Cheap

We’re all about saving money, but the concept defeats it’s own purposes if you spend money on low quality products which won’t last long anyways. Sometimes it’s okay to splurge and drop some cash on something you really need, whether that be a new refrigerator, oven, or even cooking pans/utensils. You will save both time and money.

During the pandemic, many real estate agents had their busiest year ever. There were millions of people who suddenly needed more space, no longer wanted to be “stuck” in cities they had moved to for work or school, or finally had an opportunity to get their dream home at a great price and with a crazy-low mortgage rate. But there was just one, small snag: A pandemic that made in-person meetings a no-go. Showings and open houses were replaced with lockdowns, flight bans, quarantines, social distancing, and travel restrictions. As the industry faced its biggest challenge—and highest demand—yet, we were pleasantly surprised to find that real estate could function very well using a simple tool we all had on hand: Our phones.

In the past 30 days alone, I’ve sold four properties in South Florida over $10 million apiece without a single in-person showing. These deals happened completely virtually. While this may sound like the exception, or a Covid-specific occurrence, I see virtual deals as a trend that will only grow. Here’s why: Read the complete article here.

Article written by Ryan Serhant

Forbes Magazine

Is there anything like getting greeted at the door by your jubilant pup or snuggling your unconditionally loving cat? Whatever pet you call your own, there’s no doubt that animals can bring us insane amounts of joy in our everyday life. What you might not know is that pets can also have a remarkably positive effect on your overall well-being. Whether you have a pet or you’re thinking about bringing a new furry friend into your life, this article will help you understand these amazing animals more.

They’ll Help You Get More Exercise

Owning a pet, particularly an active variety like a dog, means you have to up your own exercise to help them stay healthy and get the minimum amount of movement. Whether it’s a walk around the block, a run down to a local park, a hike, or even a bike ride for high-energy breeds, owning a pet means you have to build exercise into your day.

Your Blood Pressure May Be Lower

High blood pressure is a widespread issue in the U.S., affecting one in three adults. If you’re concerned about this for yourself or your loved ones, having pets can help. Studies have shown pet owners, specifically dog-owners, have lower blood pressure and are potentially at less of a risk of developing cardiovascular disease than non-pet owners. Even the simple act of petting a dog can bring down blood pressure.

You Might Feel Less Stressed

Just being with your pet has the ability to reduce your stress on a chemical level, according to veterinary medicine academic Rebecca A. Johnson, Ph.D., as quoted in DailyPaws.

“A powerful neurochemical, oxytocin, is released when we look at our companion animal, which brings feelings of joy. It’s also accompanied by a decrease in cortisol, a stress hormone,” Johnson shares.

In an increasingly busy and uncertain world, anything that reduces your stress is a good thing.

They Can Ward Off Your Children’s Allergies

Pets don’t just benefit you; they can also help your whole family. Studies have shown that children have a lower risk of developing allergies or eczema if they were around pets before reaching 6 months of age. This applies not just to dogs and cats but also to farm animals.

They Can Help You Fight Depression

Depression is a prevalent issue for many people, and treatment can be daunting since the condition itself can affect motivation. If you or someone important in your life is facing depression, know that taking care of a pet—and not just a cat or dog—can ease the symptoms. In a study of elderly individuals in 2016, merely caring for caged crickets helped reduce feelings of depression.

They Can Be Trained to Sense Health Changes

Pets can also take a more active role in your health with the proper training. Support animals can learn to sense dangerous drops in blood sugar, prostate cancer, and other conditions.

They Can Help You Make Friends

Walk a new puppy through a park and count how many times you’re stopped by total strangers to chat and socialize. It’s probably obvious, but it’s also been shown through experiments that pets can increase your opportunities to socialize. In a study conducted by Dr. June McNicholas, being out and about with a dog compared to being alone resulted in many more interactions with strangers.

You Might Live Longer Because of Them

In the end, our dear animal companions can actually increase our life expectancy. Cat owners were shown in a Minnesota Stroke Institute study to have a 30 percent lower risk of heart-disease-related death. Similarly, people who own dogs can have longer lives than non-dog-owners. If people have experienced a stroke or heart attack, owning dogs can also help with recovery.

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With all the benefits of owning a pet, it seems a pretty small price to pay to feed them and take them for a walk a few times a day. If you own a pet, give it some extra attention. If you don’t, consider adopting from a local shelter and enriching your life.