Good Eats November 1, 2022

Good Eats Virginia: Garrisonville Edition

this post was first published on www.coldwellbankerelite.com

Where: Garrisonville, Stafford County, VA

Hungry for a bite to eat while out and about in Stafford County and not sure where to go? Regardless of if you’re looking for breakfast, lunch, dinner or dessert, we’ve got you covered with our list of favorite spots to try in the Garrisonville area of Stafford County, Virginia!

 

Breakfast: Botta Bing Bagel & Deli

310 Garrisonville Rd, Stafford, VA 22554

Fresh bagels and hot eggs are a breakfast match made in heaven, and Botta Bing Bagel & Deli has this combo down pat. Whether you’re a sausage egg and cheese fan, or more of a lox and cream cheese person, they’ve got you covered. There are so many different combinations of sandwiches to choose between with their wide variety of bagels, and protein and topping options at an affordable price point. If you’re not feeling a bagel, don’t worry, they also have several omelet options and serve both pancakes and French toast as well to satisfy your morning munchies. Botta Bing Bagel & Deli is open on weekdays from 5:00 am-2:00 pm and 7:00 am-2:00 pm on weekends.

 

Lunch: Robiolina Italian Cuisine

356 Garrisonvile Rd, Stafford VA 22554

When lunchtime rolls around and your stomach won’t stop growling, it’s time to head to Robiolina Italian Cuisine. With takeout and dine-in options, they’ll keep you fed regardless of the length of your lunch break. Fresh pasta made in-house is the core ingredient for several of their lunch entrees; Capellini, Linguine Luciana, and Linguine Agile e Olio e Peperoncino just to name a few! If you’re not a huge pasta fan, no worries, they also have Chicken Marsala, Piccata, and Fiorentina as well as a rotating Soup of the Day and a solid lineup of salads including a Roasted Beet Salad and a classic Chicken Caesar option. Their lunch special is affordable and they have a handful of gluten-free, vegan, and organic dishes to round out their menu. Robiolina Italian Cuisine is open daily for lunch at 11:30 am excluding Tuesdays.

 

Dinner: Fatty’s Taphouse

225 Garrisonville Rd, Stafford VA 22554

Calling all Stafford county seafood and beer lovers for dinner, Fatty’s Taphouse has you covered. Seafood is their specialty, so we recommend bringing a friend or a few with you to share some appetizers or a steam pot.  They’ve got more seafood options than you can count on both hands. From Calamari to Pale Ale Mussels and Alligator Skewers for seafood lovers, and buffalo chicken dip, quesadillas, and tater tots for those who prefer their food from land, there’s something for everyone. For the beer connoisseur, Fatty’s has over 2 dozen beer taps for you to mix and match your drink to your food. Their handhelds menu also offers a combination of land and sea choices, and their portion sizes are generous enough that you’ll likely be asking for a to-go box at the end of your meal! Fatty’s Taphouse is open weekdays from 11am-12am Sunday through Thursday and 11am-2am on Fridays and Saturdays.

 

Dessert: Koi Tea

418 Garrisonville Rd. Suite 114, Stafford VA 22554

If you’ve got a sweet tooth and an appreciation for cleverly named menu items, you can’t go wrong with Koi Tea. Although their specialty is boba tea, their hand-rolled ice cream is also a must-try on their menu. They pride themselves on keeping a simple menu packed full of flavor and are constantly evolving their menu with yummy new flavor combinations.  For Boba lovers, their “Koiffee” is a perfect blend between boba and coffee. For those with sensitivities to dairy, they offer dairy milk alternatives almond milk and coconut milk. To drink, they also have lemonade, Piña Colada tea, a “Legally Blonde” strawberry milkshake, and Taro tea which is anything but “Taro-able”. Ice cream wise, their “Milk and Cookies” ice cream roll is their take on a classic, cookies, and cream, and their “Garrisonville Road” with mashed graham crackers, marshmallow fluff, and brownie mix is another fan favorite despite the rocky road it’s named after. Koi Tea is open 7 days a week from 12:00 pm -9:00 pm.

BuyersMarket Update October 19, 2022

Should You Still Buy a Home with the Latest News About Inflation?

Should You Still Buy a Home with the Latest News About Inflation?

Should You Still Buy a Home with the Latest News About Inflation? | MyKCM

While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%. This news impacted the stock market and added fuel to the fire for conversations about a recession.

You’re likely feeling the impact in your day-to-day life as you watch the cost of goods and services climb. The pinch it’s creating on your wallet and the looming economic uncertainty may leave you wondering: “should I still buy a home right now?” If that question is top of mind for you, here’s what you need to know.

Homeownership Is Historically a Great Hedge Against Inflation

In an inflationary economy, prices rise across the board. Historically, homeownership is a great hedge against those rising costs because you can lock in what’s likely your largest monthly payment (your mortgage) for the duration of your loan. That helps stabilize some of your monthly expenses. James Royal, Senior Wealth Management Reporter at Bankrate, explains:

A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”

And with rents being as high as they are, the ability to stabilize your monthly payments and protect yourself from future rent hikes may be even more important. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains what happened to rents in the latest inflation report:

“Inflation refuses to budge. In September, consumer prices rose by 8.2%. Rents rose by 7.2%, the highest pace in 40 years.”

When you rent, your monthly payment is determined by your lease, which typically renews on an annual basis. With inflation high, your landlord may be more likely to increase your payments to offset the impact of inflation. That may be part of the reason why a survey from realtor.com shows 72% of landlords said they plan to raise the rent on one or more of their properties in the next year.

Becoming a homeowner, if you’re ready and able to do so, can provide lasting stability and a reliable shelter in times of economic uncertainty.

Bottom Line

The best hedge against inflation is a fixed housing cost. If you’re ready to learn more and start your journey to homeownership, let’s connect.

Market UpdateSellers October 13, 2022

Perspective Matters When Selling Your House Today

Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key. Here are some of the ways a trusted real estate professional can explain the shift that’s happening today and why it’s still a sellers’ market even during the cooldown.

Fewer Homes for Sale than Pre-Pandemic

While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market. A recent article from Calculated Risk helps put this year’s increased inventory into context (see graph below):

Perspective Matters When Selling Your House Today | Simplifying The Market

It shows supply this year has surpassed 2021 levels by over 30%. But the further back you look, the more you’ll understand the big picture. Compared to 2020, we’re just barely above the level of inventory we saw then. And if you go all the way back to 2019, the last normal year in real estate, we’re roughly 40% below the housing supply we had at that time.

Why does this matter to you? When inventory is low, there is still demand for your house because there just aren’t enough homes available for sale.

Homes Are Still Selling Faster Than More Normal Years

And while homes aren’t selling as quickly as they did a few months ago, the average number of days on the market is still well below pre-pandemic norms – in large part because inventory is so low. The graph below uses data from the Realtors’ Confidence Index by the National Association of Realtors (NAR) to illustrate this trend:

Perspective Matters When Selling Your House Today | Simplifying The Market

As the graph shows, the pre-pandemic numbers (shown in blue) are higher than the numbers we saw during the pandemic (shown in green). That’s because the average days on the market started to decrease as homes sold at record pace during the pandemic. Most recently, due to the cooldown in the housing market, the average days on the market have started to tick back up slightly (shown in orange) but are still far below the pre-pandemic norm.

What does this mean for you? While it may not be as fast as it was a couple of months ago, homes are still selling much faster than they did in more normal, pre-pandemic years. And if you price it right, your home could still go under contract quickly.

Buyer Demand Has Moderated and Is Now in Line with More Typical Years

Buyer demand has softened this year in response to rising mortgage rates. But again, perspective is key. Getting 3-5 offers like sellers did during the pandemic isn’t the norm. The graph below uses data from NAR going back to 2018 to help tell the story of this shift over time (see graph below):

Perspective Matters When Selling Your House Today | Simplifying The Market

Prior to the pandemic, it was typical for homes sold to see roughly 2-2.5 offers (shown in blue). As the market heated up during the pandemic, the average number of offers skyrocketed as record-low mortgage rates drove up demand (shown in green). But most recently, the number of offers on homes sold today (shown in orange) has started to return to pre-pandemic levels as the market cools from the frenzy.

What’s the takeaway for you? Buyer demand has moderated from the pandemic peak, but it hasn’t disappeared. The buyers are still out there, and if you price your house at current market value, you’ll still be able sell your house today.

Bottom Line

If you have questions about selling your house in today’s housing market, let’s connect. That way you have context around what’s happening now, so you’re up to date on what you can expect when you’re ready to move.

Home ImprovementsSellers October 10, 2022

Should You Consider Home Staging?

this post was first published on www.coldwellbankerelite.com

Are you ready to sell your home? Adding a home stager to your team might be your next best move. Your neighbors may not be talking about it, but many people connect with home-staging companies. The goal is to ensure a home is warm and welcoming while helping a buyer see the potential.

 

You have another option, too. Do your research — and do the staging yourself. With the help of a realtor, you can make a great first impression. Home staging has many benefits, and we hope you add it to your to-do list before putting your house on the market.

 

The How-Tos of Home Staging

Home staging is about preparing your home to help potential buyers see your space as their own. Adding decorations, removing personal items, and deep cleaning are a few ways to make staging a success. Although you are selling your home, remember you are also helping to sell a vision to the next homeowner. If you successfully staged your home, the benefits directly impact your budget.

 

Here is how to do things right:

 

  • Sell the vision

House hunters don’t want to see how you designed your home. They want to know if they can make a place feel like theirs. One of the best ways to accomplish this goal is to keep the design minimal. Let someone picture how their couch will look in the corner — or whether a bed will fit in a guest room.

 

  • Close with a cleaning

What could mess up a beautifully staged home? Dirty baseboards, odors, or other visible signs of an unclean home. It’s worth the time and investment to have your home professionally cleaned. For potential buyers, a clean home also shows a move-in-ready space.

 

  • Focus on key rooms

There is no reason to stage every room. Try to focus on the rooms that are key selling points. Consider staging the living room or the kitchen. If you have a spacious main suite, find ways to help homebuyers see this space as their own.

 

Hire a Professional — or Home Stage On Your Own

While hiring a professional is a great investment, a seller may need to allocate those costs to another part of the process. Either way, you are giving your home an edge over other homes in the neighborhood. By selling a home that includes a vision, you may be able to sell your home faster and at a better price.

 

If you are ready to stage your home, here are your options:

 

  • Hire a full-service staging company

Allow a full-service company to do it all. They can help you place the right photos on your home listing, attracting more potential buyers.

 

  • Attend a consultation and stage on your own

Learn from the best, and then try it on your own. During a consultation, gain advice on which rooms are your best selling points. Then, find ways to help each room stand out.

 

  • Stage your home on your own and consult your realtor

A quick Google search can introduce helpful tips for staging your home. Check in with your REALTOR® for feedback and guidance. They also have an eye for design and have experience staging a property to maximize your space.

 

Ready, set, stage! Put your home’s best side on display with these helpful tips.

BuyersHome OwnershipMarket Update October 4, 2022

The Cost of Waiting for Mortgage Rates To Go Down

The Cost of Waiting for Mortgage Rates To Go Down

The Cost of Waiting for Mortgage Rates To Go Down | MyKCM

Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information that can help you make an informed decision when you set your homebuying plans.

The Impact of Rising Mortgage Rates

As mortgage rates rise, they impact your purchasing power by raising the cost of buying a home and limiting how much you can comfortably afford. Here’s how it works.

Let’s assume you want to buy a $400,000 home (the median-priced home according to the National Association of Realtors is $389,500). If you’re trying to shop at that price point and keep your monthly payment about $2,500-2,600 or below, here’s how your purchasing power can change as mortgage rates climb (see chart below). The red shows payments above that threshold and the green indicates a payment within your target range.

The Cost of Waiting for Mortgage Rates To Go Down | MyKCM

As the chart shows, as rates go up, the amount you can afford to borrow decreases and that may mean you have to look at homes at a different price point. That’s why it’s important to work with a real estate advisor to understand how mortgage rates impact your monthly mortgage payment at various home loan amounts.

Are Mortgage Rates Going To Go Down?

The rise in mortgage rates and the resulting decrease in purchasing power may leave you wondering if you should wait for rates to go down before making your purchase. Realtor.com says this about where rates could go from here:

“Many homebuyers likely winced . . . upon hearing that the Federal Reserve yet again boosted its short-term interest rates by three-quarters of a percentage point—a move that’s pushing mortgage rates through the roof. And the already high rates are just going to get higher.

So, if you’re waiting for mortgage rates to drop, you may be waiting for a while as the Federal Reserve works to get inflation under control.

And if you’re considering renting as your alternative while you wait it out, remember that’s going to get more expensive with time too. As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), says:

“There is no doubt that these higher rates hurt housing affordability. Nevertheless, apart from borrowing costs, rents additionally rose at their highest pace in nearly four decades.”

Basically, it is true that it costs more to buy a home today than it did last year, but the same is true for renting. This means, either way, you’re going to be paying more. The difference is, with homeownership, you’re also gaining equityover time which will help grow your net worth. The question now becomes: what makes more sense for you?

Bottom Line

Each person’s situation is unique. To make the best decision for you, let’s connect to explore your options.

Buyers October 3, 2022

The Ultimate Guide To Relocating A Family With Kids

this post was first published on www.coldwellbankerelite.com

The Ultimate Guide To Relocating A Family With Kids

You may have heard that moving with young kids is difficult. No matter how important the move is for you and your family, children can have a tough time leaving behind friends and familiar environments, not to mention accepting their new home. The truth is that kids can and will thrive if given time and resources!

 

Many moves throughout childhood might be more difficult, but one or two is something they can understand or even enjoy. Both SquareFootHomes and Thriveworks cite studies that found more than four moves tend to have consequences for a child’s mental health, mostly when they are older than five, because leaving behind friends and moving to a new neighborhood hurt their sense of stability and security. Thankfully, there are plenty of resources to remedy this situation and help them through those feelings.

 

The move to a new home has always involved labor, packing, driving, and unknowns. Doing so while also taking care of your child’s emotions and confidence involves finding ways to make the process easier for you and them. Moving can be broken up into several phases: First is when you announce the move to your family and start looking for your new home. The second is when you are packing and cleaning, and the third is during the move itself. Let’s consider each in turn.

 

Phase 1 – Home Shopping

What matters to a child is the house they live in, their life at home, what the neighborhood is like, their friends, and school. Rather than simply saying you’ll be moving, focus on all the great things they’ll have there, from a better school or nicer neighborhood to interesting local places and the difference in weather. Focus on the excitement, and children should start feeling the same. Don’t build up your child’s expectations too high, but let them dream.

 

PartSelect suggests parents start with a family meeting about the move. Younger kids may need several reminders that your family will remain together, you won’t still be living in the old house too, and they can bring along their favorite belongings. Tell them about the first time you ever moved and let kids express fears so you can acknowledge these concerns as important to you. Remember to stay positive and help them understand why you are moving and how this will be for the best overall.

 

Ask kids for feedback on the top new homes you are looking at and consider what they say. Whatever they liked about the place you pick can become a strong connection with that home, while things they didn’t like can be the first areas you consider improving or helping them start to like. New homes are a great opportunity for kids to get new benefits and responsibilities, such as a new gaming console for the rec room or adopting a puppy if your yard is now big enough.

 

When researching your new town and neighborhood, find out where the important local spots are like the closest grocery store, hospital, parks, and schools. You’ll of course, do this online, but make sure you visit some of these locations with your kids. Even if your child is still in elementary school, showing them where the high school is will leave an impression, and taking a tour of their elementary school before their first day is a great way to get them excited. Learn about community groups, state fairs, outdoor activities, or what sports are most popular in the area.

 

Let kids help with choosing what the rooms of your new house will be used for. You may not have considered making a room into an indoor plant nursery or exercise room, but your kids might. Ask what they want and help them make the room happen. Teens can even take part in the planning and purchasing by giving them a budget and allowing them to find everything.

 

Phase 2 – Packing & Cleaning

Some children are open to new experiences, while others tend to be more sensitive or worrying. You know what kind of kid you have, and the key to dealing with the latter type is providing extra support during this time. They may feel like they can’t control their own lives, so give them tasks to feel important and involved.

 

If you have a yard sale to get rid of some things before the move, let your kids help with the event and make sure that any proceeds from their old stuff goes to them. If they sell an item, part of that money should go to them too. The TODAY Parenting Team points out that moving is a great time to eliminate things your kids don’t love anymore or won’t need. Maybe you’re moving to a very different climate and they won’t need their cold weather clothes anymore. Or perhaps they have a doll that sits on their shelf now and could give a friend as a keepsake.

 

Begin packing as soon as possible, starting with anything you won’t need in the next few months like winter clothes if your move is in the summer. Make life easier by renting a temporary storage room near the new home to move things in stages. From there, you can pack down the list by how soon you will need things, ending with your child’s favorite stuff (anything they won’t simply be carrying) with the promise to unpack them first on arrival. Kids that are old enough can help with some of this work, such as cleaning up rooms after being emptied or practicing their handwriting with the labels for boxes.

 

Creating a scrapbook for the move helps kids record their important memories from home. This might include pictures of the neighborhood, a few items from the area such as pressed leaves or backyard dirt, group pictures with their old friends and classmates, and email addresses or phone numbers for people they want to stay in contact with. The last is especially important because using text messages, online games, or communication apps, children can keep in touch with their friends from any distance as long as they have those methods to contact them.

 

Phase 3 – Moving Day

Throughout the process of moving, let your child make plenty of decisions. A classic would be choosing paint colors for their new room, but don’t forget moving day! Where would they like to go out for lunch one last time? Do they want to start unpacking the moment you arrive or go for a walk around the neighborhood first? And, of course, let them pick what to have for dinner that first night.

 

All their most treasured possessions should be packed into one backpack or luggage bag, which they can then carry and keep close. Even if all their other stuff is somewhere in the moving truck, they’ll feel more comfortable knowing their favorite toy is within reach.

 

One of the difficult times for a child can be falling asleep the night before the move, along with their first few nights sleeping in a new place. You’ll want to use every trick you know to help your child sleep better, whether falling asleep on the couch with you, a glass of milk, or reading stories. Familiar items like posters or bed sheets will help their new room start to feel the same.

 

The moving day trip is a big adventure for most kids, so plan little breaks and tourist stops along the way. They may never return to that state park halfway between your start and destination, but getting the chance to run around during a long car ride will help with any nerves. Take them to see something amazing, and they’ll talk about it for years afterward.

 

Our Top Advice for Moving with Kids

Professional realtors can make moving easier by providing advice for every step of the process, from telling your kids about the move, to what you should do first in the new home. You’ll be more confident in your kids’ happiness during and after this stressful time by relying on realtors who understand the intricacies of moving with a young family and can help you through this journey.

 

Coldwell Banker Elite is passionate about helping you find your slice of the American Dream, whether selling a home and moving, buying a new place, or making improvements. For 40 years, we’ve been proud to help generations of families move into their homes with advice, tips, and trends. Follow along for more blogs on all things home!

Good Eats October 1, 2022

Good Eats Virginia: October Edition

this post was first published on www.coldwellbankerelite.com

Where: Spotsylvania, VA

 

Courthouse Cafe & Pizzeria: Breakfast

Come to Courthouse Cafe & Pizzeria for a quick breakfast! With amazing prices, food, and atmosphere, this café has outstanding reviews. Any breakfast food you can think of, they have it. From Rise & Shine, the Griddle, House Specialties, Omelets, and Sandwiches, Courthouse Café & Pizzeria has that little hometown diner feel to start your morning right.

Pho Saigon: Lunch

For some authentic Vietnamese cuisine, come to Pho Saigon. Pho Saigon is a family-owned restaurant from Saigon, Vietnam! With a diverse menu of Vietnamese cooking, you’ll be able to find your go-to meal. Especially with the Fall season, nothing is better than a big bowl of Pho with some Garden Rolls.

Himalayan Heritage Restaurant & Bar: Dinner

At Himalayan Heritage Restaurant, they bring you delectable, fresh, healthy, and authentic Nepali & Indian cuisine. A calm and beautiful atmosphere allows you to enjoy your dinner. They cook with the classic clay oven, which enhances the aromatic herbs and spices applied to dishes such as shrimp, lamb, chicken, and salmon, all seared to the perfect Tandoori style. To make their customers feel more special, they change the menus daily, so name your own dish in advance, and they will make it for you!

Sweet Loo Loo’s: Dessert

Head over to Sweet Loo Loo’s to end the day with some delicious baked goods! They ensure to bake all their desserts fresh by working before sunrise. Sweet Loo Loo’s works with local suppliers to source the freshest ingredients and use old-fashioned baking techniques to ensure the best quality. You can also request special baked goods for parties, anniversaries, and other special events. To offer something for everyone, they have gluten-free, dairy-free, and nut-free baked goods! With five stars on google, you know this place will satisfy your sweet tooth.

Home OwnershipSellers September 29, 2022

If You’re Thinking of Selling Your House This Fall, Hire a Pro

If You’re Thinking of Selling Your House This Fall, Hire a Pro

If You’re Thinking of Selling Your House This Fall, Hire a Pro | MyKCM

Today’s market is at a turning point, making it more essential than ever to work with a real estate professional. Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they’re also experts in managing the many aspects of selling your house.

Here are five key reasons why working with a real estate professional makes sense today.

1. A Professional Follows the Latest Market Trends

With higher mortgage rates and moderating buyer demand, conditions are changing and staying on top of the latest market information is crucial when you sell.

Working with an expert real estate advisor helps ensure you can stay updated on what’s happening. They know your local area and follow national trends too. More importantly, they’ll know what this data means for you, and as the market shifts, they’ll be able to help you navigate it and make your best decision.

2. A Professional Helps Maximize Your Pool of Buyers

Your agent’s role in bringing in buyers is important. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS) to ensure your house is viewed by the most buyers. Investopedia explains why it’s risky to sell on your own without the network an agent provides:

“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home. A smaller pool of potential buyers means less demand for your property, which can translate into waiting longer to sell your home and possibly not getting as much money as your house is worth.”

3. A Professional Understands the Fine Print

Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. The National Association of Realtors (NAR) explains it best, saying:

“Selling a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. . . . Also, there’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”

A real estate professional knows exactly what needs to happen, what all the fine print means, and how to work through it efficiently. They’ll help you review the documents and avoid any costly missteps that could occur if you try to handle them on your own.

4. A Professional Is a Trained Negotiator

If you sell without a professional, you’ll also be solely responsible for all the negotiations. That means you’ll have to coordinate with:

  • The buyer, who wants the best deal possible
  • The buyer’s agent, who will use their expertise to advocate for the buyer
  • The inspection company, which works for the buyer and will almost always find concerns with the house
  • The appraiser, who assesses the property’s value to protect the lender

In today’s changing market, buyers are regaining some negotiation power as bidding wars ease. Instead of going toe-to-toe with all the above parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion.

5. A Professional Knows How To Set the Right Price for Your House

If you sell your house on your own, you may be more likely to overshoot your asking price. That could mean your house will sit on the market because you priced it too high for where the market is now. Today, pricing a house requires even more expertise to ensure you get it right. NAR explains it like this:

“A great real estate agent will look at your home with an unbiased eye, providing you with the information you need to enhance marketability and maximize price.”

Real estate professionals know the ins and outs of how to price your house accurately and competitively. To do so, they compare your house to recently sold homes in your area and factor in the current condition of your home. These steps are key to making sure it’s set to move quickly while still getting you the highest possible final sale price.

Bottom Line

Whether it’s following local and national trends and guiding you through a shifting market or pricing your house right, a real estate agent has essential insights you’ll want to rely on throughout the transaction. Don’t go at it alone.  If you plan to sell your house, let’s connect.

Home ImprovementsHome Ownership September 23, 2022

5 Must-Do Home Projects for Autumn 2022

this post was first published on www.coldwellbankerelite.com

 

While it’s easy to get carried away with decorating your house with leaves and pumpkin decor, there are a few practical home updates to consider this fall, too. Whether you’re preparing to sell or rent your home or simply want to make your house more comfortable, these tips are for you. Keep reading to explore five home updates to prepare your home for the fall and winter seasons.

 

  1. Freshen Up your Home’s Interior 

 

As we head into the cooler months of the year, prepare to spend more time indoors. To prepare your home for autumn, sprucing up the interior of your home can make spending time indoors more enjoyable. It may be a good time to consider a professional carpet cleaningservice. Small updates can greatly enhance how you feel about spending time in your home!

 

While regular vacuuming and at-home carpet care can help, a professional carpet cleaning provides an extra-deep clean. This should be done at least once yearly (more in highly trafficked areas or homes with pets/children). Fall is also a great time to freshen up the paint in your home’s interior.

 

  1. Get Prepared for Colder Weather 

 

Prepare your home to stay warm during the cold weather! It may be time for an HVAC service/spruce-up to ensure your heat is functioning well. Many homeowners choose to install smart thermostats, such as the Google Nest, in preparation for fall and winter. A smart thermostat allows you to save money on energy costs by creating a heating or cooling schedule. Any preparations you make now will help ensure you stay warm and cozy throughout the fall and winter months.

 

  1. Cozy Fires

 

If your home has a fireplace, now is the perfect time to have it serviced. Your home’s chimney and fireplace should be cleaned by a professional at least once per year. Fall is the perfect time to do it before cold temperatures arrive. Another option is to add a firepit outdoors, allowing you to spend time outdoors even throughout the fall. Many electric firepits offer flexibility and less maintenance than traditional firepits. Nothing says fall like a warm fire and a hot apple cider!

 

  1. Trim Foliage 

 

Don’t forget about maintaining the outside of your home for fall too! Before the autumn, consider professional landscaping services to spruce up your front year. Overgrown bushes, trees, and shrubs can cause damage to your home during fall storms. Not only will you make your home look better, but you can also use this as an opportunity to add fun fall decor to your patio and home’s exterior.

 

  1. Paint your Home’s Exterior

 

If you’ve been considering a paint job for your home, fall is the perfect season to move forward. In the summer, paint tends to get runny from the humidity in the air. Fall temperatures, combined with lower levels of humidity, make for ideal painting conditions. A fresh coat of paintis perfect for enhancing the value of your home too, especially if you’re planning on selling or renting soon.

 

Preparing for Fall

 

Just like spring cleaning, fall sprucing is a must-do for every homeowner. Consider these five home updates to prepare your home’s exterior and interior for an enjoyable and cozy autumn season.

BuyersMarket UpdateSellers September 20, 2022

Virginia Housing Market Recap for Summer 2022

this post was first published on www.coldwellbankerelite.com

 

The summer of 2022 was an odd time in the Virginia housing market, as the market cooled down considerably, but prices continued to climb. The effects of the Covid-19 pandemic may be waning, as Virginians are slowing down on their need to move about the state.

Interest rates have been moderately hiked, which may be contributing to the slowdown of homebuying; interest rate hikes could also affect housing pricing in the state and all over the country. For July, only 13,745 new listings were made, which is down a staggering 23.4% year to year. All active listings were also down 3.4%, totaling 20,389.

 

The Housing Market is Cooling

All throughout summer, the rate of housing purchases declined sharply. The housing market is rapidly cooling, as the fervent desire to buy a new home is slowing down considerably- in Virginia and elsewhere. In June of 2022, only 13,324 home sales in Virginia, which is down 19.4% year to year. This is the sharpest year-to-year decline in more than two years.

The pattern also held for July; only 11,346 homes were sold, down 25.8% year to year for July. This decrease was the largest year-to-year drop in seven years. Total sales activity also dropped 14.8% between June and July, suggesting a firm cooling pattern. There are several explanations for this slow down, chief among them are the soaring prices and consumer doubt in the state of the economy.

 

Prices are Rising

Despite the cooling of the market, home prices are on the rise. This rise in prices could be due to many factors, such as interest from corporate groups, foreign investments, and a slight hike in interest rates. In June, the average selling price for a home was $397,315, which is up 6.6%percent year to year.

In July the average price of a home dropped to $385,000, but this still represents a year-to-year climb of 6.9%. This rate of increase is showing no signs of decline, which may contribute to the cooling of the market; Virginians may be apprehensive to buy homes that are only increasing in price. These prices may not fall throughout the year as interest rates could be increased again.

 

Fall Outlook

Virginia residents are mirroring the sentiment of the housing market and believe prices will drop eventually to match the falling rate of home sales. In the latest Virginia REALTORS Confidence Survey, only 13% of buyers rated the degree of buying activity as “high” or “very high.” In comparison, 36% of buyers rated buyer activity as “low” or “very low.”

The percentage of new homebuyers dropped one percent year to year, from 29% to 28%.Additionally, seller activity declined in August. Only 7% of respondents thought selling activity was “high” or “very high,” while a significant 49% of respondents thought the activity was “low to very low.”

 

State of the Housing Market Today

The Virginia housing market is rapidly cooling, but prices continue to rise for various reasons. Because of this continued cooling, 49% of Virginia residents expect housing prices to fall next year.

The Virginia market represents a microcosm of the national market; many purchases spurred on by the coronavirus pandemic have slowed down and those who did not participate are hesitant to pay current prices while the market seems to be cooling perpetually. Only time will tell if prices continue to cool along with the rate of purchasing.