Your home may be one of your largest assets, and you certainly want to take steps to get the highest price possible for it when you list it on the market to sell. In addition, you may have plans to purchase a new home or to take other similar steps when list your home, so you may need to your house to sell quickly. Staging your home is a great way to present it in the best possible light for potential buyers to see. While there are dozens of staging tips and ideas that you may use, there are a few that are rather simple and affordable for most to complete.
Give Each Room a Single Purpose
If your home is like most, there may be several rooms that have multiple uses. For example, you may have a work desk placed in the master bedroom, or a section of the living room may be designated as a kids’ play area. While this may be functional for how your family lives, it can confuse buyers. Buyers need to be able to walk into a room and imagine their own family living in the area. They may not have a need or use for a desk in the master bedroom, and this can confuse the use of the space. In addition, it also can make a room look smaller and more cramped than it is.
De-Clutter Your Rooms
In addition to defining a single use for each room in your home, you should also de-clutter your rooms. Depending how long you have lived in your home and how significant your periodic spring cleaning sessions have been, this can be a major undertaking. As a good rule of thumb, items that have not been used in more than six months may need to be donated or tossed away. The exception to this rule is seasonal items, like winter coats, pool toys or holiday décor. Keep in mind that buyers will open cabinets, drawers and closets, so your cleaning session should be thorough and not superficial.
Pack Away Personal Belongings
A final step to take is to pack away personal belongings. Everything from religious symbols like crosses to a family photo over the mantel should be packed in boxes. Your goal is to make your home look like any family could live there rather than to make it look like your home. Only decorative items that have a broad or universal appeal should remain.
When a home is properly staged, it may feel as though your home is not your own and even as though you are camping out in your own home. Keep in mind that staging can help you to sell your home as quickly as possible and to get the highest bid possible. Therefore, your effort is well worthwhile.
The Federal Housing Finance Agency (FHFA) reported that home prices rose by a seasonally-adjusted rate of 0.30 percent in January, and were 5.10 percent higher as compared to home prices in January 2014.
FHFA oversees Fannie Mae and Freddie Mac and its home price report is based on sales of homes financed by mortgages owned or backed by Fannie Mae and Freddie Mac.
Month- to- Month FHFA Home Prices Mixed
Month to month home price data was mixed for January. Home prices ranged from -0.40 percent in the Middle and South Atlantic census divisions to +2.30 percent in the East South Central census division.
Month-to month readings are considered more volatile than year-over-year home price readings. Year-over-year readings for all nine U.S. census divisions were positive and ranged from a 1.70 percent increase in the Middle Atlantic division to an increase of 8.20 percent in the Pacific division. This suggests that overall, home prices are gaining, but slowly.
Commerce Department: New Home Sales Hit 7-Year Peak
In an unrelated report, the Commerce Department reported that February sales of new homes reached a seven-year peak with 539,000 sales of new homes expected on a seasonally-adjusted annual basis. This was significantly higher than the expected reading of 455,000 new home sales and was also higher than the revised reading of 500,000 new home sales in January.
Analysts said that this positive reading may indicate a robust sales for the peak spring and summer home buying season. The reading for new home sales in February was nearly 25 percent higher than for February 2014.
In spite of this good news, analysts cautioned that the new home sales numbers are often volatile, and future revisions could result in lower sales figures for new homes.
With jobs increasing and mortgage rates remaining relatively low, more homebuyers may enter the market and boost home sales. Tight mortgage lending standards remain an obstacle for would-be buyers with less than stellar credit scores.
A fire can rage through your home at a moment’s notice, and it can cause a significant amount of damage in a very short period of time. Damage from the flames, intense heat, smoke and soot can cause tens of thousands of dollars or more in some cases, and a severe fire event can result in a total loss for the homeowner. More than that, a fire can create a serious health and safety risk for you and your loved ones inside the home. If you are concerned about how safe your home is from a fire, consider a few important points.
Do You Have Fire Extinguishers On All Floors?
When a small fire breaks out, you may only have a few seconds to respond. You simply do not have time to rush around the house in search of a fire extinguisher. Instead, you should know immediately where it is at and how to use it. More than that, you should have one available on all floors of your home. While you may want to reach for a fire extinguisher to put out a small flame, you should still yell for others in the home to vacate while you use the fire extinguisher.
Do You Have Smoke Alarms in Ideal Locations?
Fires can break out during all hours of the day and night. When you are awake, you may easily be able to smell smoke from a nearby room. However, when you are asleep or when the smoke is in a removed area of the home, it can be more difficult to observe the signs of a fire until it is too late. Placing a loud smoke alarm in all bedrooms in your home is a wise idea. You will also need one in living areas of the home. If your home is larger in size, you may consider investing in additional smoke alarms.
When Was the Last Time You Replaced the Batteries in Your Smoke Detectors?
It is not enough to simply have the smoke detectors mounted to your walls or ceiling. Instead, you need to make sure that they are loud and that they work well. If you have a hearing impaired person in the home, you should invest in detectors with a visible strobe light to alert them to a danger. Batteries generally should be replaced every few months, and you may consider replacing the batteries each time you replace the filters for your HVAC system. Keep in mind that it is better to replace the batteries before they lose power than to be without the function of an alarm in your home when you need it.
Even a small fire can be a dangerous and costly event. By focusing on these factors in your home, you can most easily prepare for a fire, and you will be able to take immediate action in the event a fire develops in your home.
Last week’s events included the National Association of Home Builder’s Housing Market Index, which fell to its lowest reading since last summer. Other news included reports on housing starts and building permits, the FOMC meeting statement and Fed Chair Janet Yellen’s press conference.
Home Builder Confidence Falls, Building Permits Rise
The NAHB Wells Fargo Housing Market Index fell by two points for a reading of 53 in March. The expected reading was 57. Analysts said that this proves that lower mortgage rates and steady job growth aren’t fueling housing markets as expected. NAHB chief economist David Crowe also cited supply chain issues such as a shortage of available lots, labor shortages and tight mortgage underwriting standards. Home builders remain optimistic that as labor markets continue to improve and more home buyers enter the market during the traditional spring and summer buying season, that builder confidence will also grow.
The Department of Commerce reported that building permits for February rose from January’s reading of 1.06 million to 1.09 million. This represents a 3.00 percent increase and was the highest reading since October. Permits fell for single family homes fell by 6.20 percent in February, but were 2.80 percent higher year-over-year. Single family permits account for 75 percent of building permits issued.
Housing starts fell dramatically due to bad weather. The Northeast saw housing starts fall by 56 percent due to extreme snowfall; Housing starts in the Midwest fell by 37 percent and the West saw housing starts decline by 18.20 percent in February. The South reported a 2.50 percent decrease in housing starts, but since nearly 50 percent of housing starts are in the South, this decline is more significant than it appears.
Fed Rates Hold Steady, Mortgage Rates Fall
The Federal Reserve noted in its post FOMC meeting statement that the Fed is in no hurry to raise rates. Citing ongoing concerns about low inflation and a sluggish housing market recovery, the Fed’s policymakers indicated that they don’t plan to rush on raising the target federal funds rate. In her press conference held after the FOMC statement, Fed Chair Janet Yellen reiterated the Fed’s intention to raise rates only when domestic and global economic developments warrant.
Mortgage rates fell according to Freddie Mac with the average rate for a 30-year fixed rate mortgage eight basis points lower at 3.78 percent. The average rate for a 15-year mortgage was four basis points lower at 3.06 percent; the average rate for a 5/1 adjustable rate mortgage was also four basis points lower at an average rate of 2.97 percent. Discount points were unchanged at an average of 0.60 percent for fixed rate mortgages and 0.50 percent for 5/1 adjustable rate mortgages.
This week’s housing-related news includes new and existing home sales, the FHFA home price index and FHFA’s home price index. Freddie Mac mortgage rates and weekly jobless claims will also be released as usual on Thursday.
If you have children, no home is complete without a treehouse. Besides the fact that treehouses provide kids with hours of entertainment, they can also confer ancillary benefits that are hard to quantify. For starters, treehouses can improve property values by boosting curb appeal. When building any type of treehouse, keep the following tips in mind.
Location, Location, Location
Before you head off to Home Depot and get all the necessary supplies, you need to spend some serious time storyboarding the build process. Pick a tree with low, sprawling branches such as an oak or a maple. Furthermore, consider issues like wind, shade and privacy before you start to nail up supports.
Choose Your Materials Wisely
A treehouse built with subpar materials will fall short in the longevity department and disappoint the kids. Pick out stout oak 4×4 posts for the structural elements and top them off with pressure-treated pine for the floors and railings. Use quality plywood for the interior walls and seal it to avoid rot.
Make Multi-Use Your Mantra
Treehouses that are simply shacks suspended above ground will quickly bore youngsters no matter how well-built they may be. Incorporate elements such as swings, rope ladders and even zip-lines to get more from your treehouse. As long as you’re putting in the effort, you might as well add all of the bells and whistles.
Bake Safety Into the Recipe
You don’t want the kids to get hurt when they’re frolicking among the branches. Make sure to bolt handles and permanent rails into the truck so that adolescents are less likely to slip and fall. If you want to go all out, add a few safety nets around the edges.
Heed Aesthetics When Designing
An unadorned treehouse quickly turns into an eyesore over time as it’s battered by the elements. Shingle the roof and paint the exterior walls so that they match your home. Kids will naturally gravitate towards a treehouse that looks appealing and your neighbors won’t complain about a shoddy structure in your weeping willow.
It’s More Than a Treehouse
While many young kids will no doubt love a full-featured treehouse, it’s usually the improvement in home value that will appeal to adults. If you’re interested in learning more about homes in your area that would support your desire to build a treehouse, call a professional real estate agent today.