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Score a Hole in One When Choosing a Golf Course Home
APR 3, 2023
Buying a house on the links means more than just enjoying acres of lush greens, sparkling ponds and well-manicured hills in your own backyard. There are other important factors to take into consideration before making the decision to join a golf course community.
Golf Course Environment
Remember that the beautiful surroundings come with their own unique inhabitants – from birds and turtles to more exotic, reptilian wildlife. Think about whether this strikes you as an enchanting feature that will serve as a source of constant entertainment, or a potential nuisance.
Extra Fees
In addition to homeownership, many golf communities come with mandatory greens upkeep fees for which residents are responsible. That perfectly landscaped lawn you get to enjoy may come at a price. So make sure you understand any associated fees or homeowner association costs up front.
Privacy
The house’s proximity to the course will obviously determine the amount of privacy and quiet you can expect. Visit the home at different times of day to check out the traffic flow, and investigate details such as what time of day the mowing is generally done. Consider whether early-bird games will be an intolerable, noisy disruption to your alfresco breakfasts, if landscaping work done later in the day will regularly disturb your poolside yoga session, or if the occasional golf ball in your yard will be a happy surprise or a cause for consternation and nagging concern.
Amenities
If you’re an avid player, then of course you’ll be more than happy to take full advantage of the perks associated with being in a golf community. As a paying member, you will likely have your choice of tee times and be able to enjoy discounted rates, invitations to tournaments and other great benefits. Also consider whether the activities offered throughout the year by the clubhouse are events you can appreciate. If you don’t intend on participating in the barbecues, buffet dinners and other planned gatherings intended to fill your social calendar, then the additional clubhouse fee will not be worth your while. The rules and requirements of every neighborhood differ, so be certain to review the ins and outs with your agent.
While living in a golf community brings with it an undeniable sense of prestige and security, there are other features that need to be carefully evaluated when house hunting. Considering these factors will help you find the golf course community home that’s perfect for your lifestyle. To find your next golf course home, contact me today!
The Good News for Real Estate Investments in 2024
The 2023 housing market has seen many ups and downs, leaving investors wondering what to expect in 2024. The good news is that regardless of interest rate increases and lower than average inventory, real estate investments remain one of the most lucrative areas to invest.
High Demand Means High Return
One of the central trends that defines the market today is low inventory and high demand. According to Lawrence Yun, Chief Economist for the National Association of REALTORS®, “Lack of supply is behind ongoing multiple offer scenarios on moderate- to mid-priced homes.” This demand is also fueling rising home prices, which NAR predicts will increase from an average of $384,900 in 2023 to $395,000 in 2024. This “seller’s market” can work in favor of the investor. Those who purchase, upgrade and list a property could see a quick sale and solid return. For investors waiting to list a property they already own, now is the time.
Mortgage Rates Expected to Stabilize
Although interest rates have been nearing 7% recently, Fannie Mae predicts an average rate of 6.5% in 2024. This could lead to more buyers entering the market in late 2024 and into 2025. Strong job growth may also contribute to buyer demand. The Federal Open Market Committee forecasts the unemployment rate to average a “healthy” 4.1%, an important factor that should positively impact the real estate market as a whole.
Consumer Confidence is Growing
Investors will be happy to learn that consumer confidence is rising, a positive sign of good things to come. According to the Coldwell Banker® 2023 International Consumer Survey, a significant number of respondents say they are optimistic about the state of the U.S. real estate market. In fact, 80% of luxury consumers believe purchasing real estate in the United States is a safe investment, and 76% rate the current market conditions to purchase a home as “excellent” and/or “good.”
New Construction on the Rise
To answer the housing demand, new builds are expected to increase next year. The National Association of Home Builders predicts that single-family production will rise from an average of 744,000 units in 2023 to 925,000 in 2024. Newly constructed homes could not only be a promising investment opportunity – they are also expected to lessen demand and help stabilize home prices.
Rental Property Remains a Reliable Investment
Although most experts predict that rent growth to decelerate in 2024, rental property is still a reliable real estate investment. People who take advantage of the market by selling their current home often need to move into a rental unit as they transition, ensuring investors have plenty of potential lessees. Rental income also helps offset higher mortgage rates for the investor, and rental property offers owners the benefits of long-term appreciation and various tax breaks.
Buyers are Motivated
Regardless of market trends, life goes on, and housing needs evolve. Retirees, growing families and divorcing couples don’t often have the luxury of waiting for the perfect time to move. Investors should also consider the increased mobility that comes with work-from-home buyers. Many are heading to more affordable regions, leading to pockets of growth that investors can take advantage of.
Whether the market is trending up or down, smart investors pay close attention to current trends and adjust their strategy accordingly. Once you understand the real estate landscape, you can confidently plan your next move.
The Benefits of Working With a Real Estate Agent
In a competitive real estate market, you need more than just luck on your side. Whether you’re looking to sell your property or finally get your hands on your dream home, you need the expertise of a seasoned real estate agent. One who has neighborhood knowledge, market insights, negotiation finesse and experience with contracts and closing details. Working with a real estate agent is your go-to resource when it’s time to buy or sell.
Sharing Local Expertise
When it comes to exploring community lifestyles or marketing a property to the most likely buyer at the right time, real estate agents are the ultimate insiders. They know the market and the area, and also have a network of connections and trusted professionals they can call on to ensure all your real estate goals are met. They’re well-connected in the real estate world, which means they’ve got the scoop on off-market listings and soon-to-be-available properties.
Data-Driven Decision Making
Who doesn’t love a good data-driven strategy? Real estate agents have a treasure trove of tools and technology. Using market data analytics, insights into trends impacting buyers and sellers and a comprehensive Competitive Market Analysis, they can accurately tell you where the opportunities lie and what to expect for pricing, days on the market and more.
Detailed Coordination
Ever felt overwhelmed by buying or selling a property? Working with a real estate agent gives you a personalized approach every step of the way. They will handle placing an offer, coordinating inspections, getting a home ready to list and developing a custom marketing plan. They’ll also connect you with any necessary vendors, including repair specialists or mortgage, title and insurance professionals. With an agent at your side, the intricate processes and complexities become a breeze.
Expert Negotiations
When you’re in the final stages of the game, your real estate agent turns into your personal advocate. They’re armed with data analytics and negotiation strategies that can lead to winning deals and peaceful resolutions. They’ll make sure it’s a smooth process.
With a real estate agent as your trusty guide, you can navigate the market with confidence and secure the best possible outcome. For full-service tailored assistance, reach out to me today!
Top 5 Home Renovations with the Best Return on Investment
Well-planned home renovations can really enhance your home’s appeal and amp up its price when it’s time to sell. But not all improvements bring a hefty return on investment (ROI). Knowing the most promising updates can help strategize your revamping efforts for an attractive sale. Read on for a rundown of the top five home improvements likely to supercharge your property’s resale value.
Kitchen Upgrades
A modern, functional kitchen can impress prospective buyers and significantly boost your resale value. But a complete remodel isn’t always necessary when you’re looking for a sizable ROI. If your kitchen already has a good layout, work with what you have and make strategic changes. Key renovations to consider include new countertops, an updated backsplash, a fresh coat of paint, and high-end appliances. Need some swoon-worthy inspiration to get you in the mood? These kitchen updates will make you want to start taking notes and making plans.
Bathroom Remodels
Bathroom updates are next on the list of top ROI home renovations. Your efforts here can range from replacing dated fixtures to a more comprehensive refresh, including a new soaking tub or a sleek walk-in shower. But before you pencil in a new skylight and heated floor tiles, consider every tweak’s necessity and potential upside, as bathroom work – like kitchen updates – can quickly become expensive. But if you can invest more in this space, you’ll likely see significant returns.
Hardwood Flooring
There’s no question about it – adding or refinishing lackluster hardwood flooring can significantly enhance the value of your home. This type of flooring offers a timeless look that harmoniously blends with various design styles, from boho chic to classic elegance. Besides their aesthetic charm, hardwood floors are sturdy, easy to clean and healthier due to the absence of trapped allergens often found in carpets. Buyers are consistently willing to pay more for a house with hardwood, making this upgrade a wise choice if you can swing it. How much will wood floors cost you? It all depends on the size of your rooms, the style you choose and the tree species.
Eco-Friendly Improvements
Energy-conscious renovations have been in vogue for a while now. An energy-efficient home attracts a broad range of buyers and contributes to a greener, healthier environment for everyone. Energy-saving windows, LED lighting, Energy Star-certified appliances, higher-rated insulation, an updated HVAC system and solar panels can offer a higher selling price point and significant cost savings for the homeowner.
Adding an extra room or an outdoor living space
Expanding your total livable space can add considerable worth to your home, whether it’s a finished basement, attic or flex space. An additional bedroom or an office are always in demand, especially in this work-from-home era. If expanding indoors isn’t feasible, transform your outdoor area into a relaxing second living room. A deck or patio can be an enticing bonus for buyers looking for more usable square footage at the property. Swanky garage conversions can also provide extra room year-round with unique appeal.
The right home upgrades can substantially increase your property’s value. However, balancing your renovation budget with the prospective benefits is crucial. In addition to this list, research your market and pay attention to what features the top-selling homes in your area offer. Consulting a real estate professional can also help you make informed decisions and optimize your home renovations for the best ROI.
Spring Into Action: Tips for Selling Your Home This Season
As temperatures rise and flowers begin to bloom, now is the perfect time for a spring home sale. In fact, real estate data provider ATTOM found that properties sold in April, May and June garnered the highest returns over the last 12 years. If you want to take advantage of the season’s vibrant energy and high demand, here’s what you can do to ensure a successful sale.
Maximize Your Curb Appeal
Spring is the ideal season to show off the beauty of your home and capture buyer interest before they even step through the front door. Nothing is more inviting than a freshly mowed lawn, blooming flowers and well-manicured trees and shrubbery. Buyers will notice the details, so it also pays to have your home and driveway power washed and gutters cleaned. Even small improvements like a new mailbox, welcome mat or porchlight can make a big impact.
Do a Deep Clean
Your home should sparkle from the floorboards to the ceiling fans. Buyers pay special attention to bathrooms and kitchens, so you’ll want to address tiling, grout lines and appliances. Replace shelf liners and shower curtains and have the carpets and curtains cleaned as well. And don’t forget about hidden spots, like the cabinet under the sink and the area behind the refrigerator. A pristine home shows buyers that the property has been taken care of, giving them more confidence to put in a competitive offer.
Address Repairs and Upgrades
You don’t have to renovate your home to get a quick sale. Some minor upgrades can significantly enhance the property’s overall appeal. A fresh coat of paint, for example, can change the entire feel of your home. Choose neutral colors and keep the palette consistent throughout the interior. You can also replace outdated drawer pulls, knobs and faucets. If your budget allows, consider purchasing new kitchen appliances and/or countertops, as these are important features that buyers will appreciate.
Declutter and Depersonalize
A clutter-free home appears more spacious and allows potential buyers to envision themselves living there. Pack away personal items and unnecessary objects to create a neutral canvas that appeals to a broad audience. Remove refrigerator magnets, family photos and knickknacks. Keep kitchen and bathroom counters clear and consider removing a piece or two of furniture from each room to enhance its spaciousness. Bare walls can make the home seem sterile, so hang tasteful artwork that doesn’t overpower the room.
Lighten up the Interior
Spring offers abundant natural light, making your home appear expansive and inviting. Clean your windows thoroughly to allow for maximum sunlight and keep your curtains and blinds open during showings. Now is also a good time to replace lightbulbs to create a warm ambiance throughout the residence.
As you prepare for a spring home sale, your agent will guide you through other key considerations, like pricing the home competitively, arranging professional photography and engaging buyers across high-traffic websites and social media platforms. Together you can make your property stand out in this season’s blooming real estate market.
Contemplating a 55+ Community?
Making the decision to move to a 55+ adult living community can be a big one with a lot of factors to consider. Are you looking for an active lifestyle with loads of amenities and opportunities for social connection or a quiet place to relax without a lot of distractions? While there are many benefits, it’s important to ask the right questions so you can determine if the neighborhood fits your vision of the future.
The Atmosphere
If you enjoy using the pool, gym or sports facilities in a more adults-only environment – with perhaps only a few sporadic encounters with grandchildren – then a more peaceful 55+ community may be the right fit. But if you are very active and social, a community with walking clubs, bocce ball tournaments, pickle ball courts and happy hours by the pool will provide more opportunities to meet your neighbors and establish a group of friends.
Maintenance-Free Landscaping
Lawn and yard upkeep can become a pesky, cumbersome task, especially as you age. If you enjoy not having to worry about sprucing up the outdoors and making decisions on shrubbery and plants, then a 55+ development with full landscaping services will be appealing. However, if gardening and landscaping is your thing and you love a good outdoor DIY project, a 55+ community may be too restrictive. Read the fine print to understand exactly what your responsibilities are, and what can and cannot be done in your yard.
The Active Lifestyle
With neighbors so close in the community, you may enjoy the friendly, interactive side – especially if you are a social butterfly and enjoy partaking in events, classes, clubs or holiday-themed activities. You may want to examine any clubhouse costs or dues and determine if it is worth it so you are able to take full advantage of these mingling opportunities.
Considering these circumstances with your needs and desires can help you understand if a 55+ community is the right move for you and get you on the right path to discovering the best development.
Stylish Illumination to Brighten Your Home
APR 5, 2023Lighting has come a long way since the days of an ordinary square of frosted glass adorning the center of the ceiling. With an almost unlimited range of options, interior lighting today is creative, versatile and every bit as important as the furniture you choose.
Inside the home, light serves to helpfully illuminate the spaces where we work and play, but it also creates an overall mood. Successful lighting design involves more than simply tucking a few extra lamps into dark corners. Whether you are planning illumination for a remodel or supplementing your current array, here are a few points to keep in mind.
Let’s Be Practical
Fixtures should be bright and focused for cooking, desk work, reading, grooming, crafts and games, while general illumination should allow for ease with cleaning and other practical housekeeping tasks. Motion-sensor staircase and nightlights add an extra measure of safety.
A Matter of Attraction
Place the light where you’d like to direct focus. Use a spot or up-light to draw attention to a particularly attractive architectural feature, sculpture or large potted plant. A framed photograph or painting can be showcased using a mounted picture light from above.
Set the Mood
Dimmer switches alter the ambiance easily and dramatically, turning general illumination and task lights into party lighting. Nearly every fixture and room can benefit from this simple hardware adjustment. And while high-wattage overhead bulbs are ideal for playrooms or workspaces, they’re not particularly flattering. Select softer, warm-tone bulbs for dining room fixtures and chandeliers.
Variety and Versatility
Rooms that serve multiple purposes will require a number of different light sources. A kitchen island requires plenty of light for food prep and homework, but a softer glow is in order when it doubles as a bar or buffet when you’re entertaining. Versatile, USB-chargeable LED lamps can be moved around where light is needed most – from room to room or even to brighten up the patio or porch.
Accentuate the Positive
Add a bit of drama with a touch of neon, a draped light rope, a sprinkling of twinkle lights or a set of shelving lights to artistically display a special collection. Explore the unexpected – install a colorful paper lantern in a powder room or an elegant chandelier in the guest bedroom. Make an older fixture or sconce feel new again with a distinctive bulb choice. Edison bulbs have lately been having a moment, but flame-tipped, spiral, vintage diamond shapes and even amber glow bulbs can be transformative.
The Art of the Matter
Sculptural lighting has emerged as a novel way to add some character as well – a striking work of art with a practical purpose. Spindly pendant lights, funky Art Deco sconces and styles that incorporate industrial metal accents are brilliant choices to spice things up in an otherwise conservative space.
Make a Statement
Fixtures with oversized shades or in an unusual shape can become a focal point in a main living area like a family room or even a smaller space such as an office or library. New styles range from futuristic to retro 70s cool, and custom designs can incorporate antiques, found objects, art glass or metalwork.
Efficiency Is Key
Acknowledging the importance of energy efficiency, LED bulbs and fixtures are now available in a multitude of sizes, styles and brightness levels. And with the latest in smart home technology, a single panel or remote for your entire property can manage indoor and outdoor illumination, automatic on-off, window coverings, vacation lights and much more.
Lighting can run the gamut from sophisticated and modern to traditional or romantic – and should always be uplifting and inspiring. Careful attention to illumination will enhance the comfort and overall feel of your home for both family and guests. It’s limited only by your imagination to make it brilliant!
Should You Buy or Rent a Home?
Written by: JENNIFER MCGUIREJUL 20, 2023In today’s competitive real estate market, you may wonder if it’s better to rent a place or buy a home. Purchasing a residence can provide more privacy and future investment potential, while renting allows for more flexibility and less maintenance. Both options have a myriad of pros and cons, but it ultimately will depend on your financial situation, lifestyle needs and long-term goals. Here are a few factors to consider.
Costs and Maintenance
When you rent a home, you typically pay a flat monthly rental fee plus utilities and insurance, and any repairs or maintenance are the landlord’s responsibility. However, when it comes time to renew your lease, you may find that your monthly rent goes up. When purchasing a home, your monthly mortgage payment remains constant and there’s always the option of refinancing if interest rates drop. Of course, you will also be responsible for your own maintenance and repairs.
Building Wealth
When you own your own home, you build appreciation and equity as the value of your property increases over time. In recent years as property values have appreciated across the country, owning a home has proven to be a smart investment. When you rent, your monthly housing costs go straight to the landlord.
Customization
For renters, landlords often have specific rules about the surrounding property and limit things like growing gardens, decorations, painting interiors and more. But when you own, it’s yours to do what you like. While your HOA may have some restrictions on exteriors, you are generally free to customize your property to suit your personal style. You can also add amenities and make upgrades like new appliances, light fixtures, flooring and other features that can increase its value and your future financial prosperity.
Flexibility
Rental agreements often span a year or go from month to month, which allows you to make quicker adjustments for lifestyle changes or new job opportunities. However, when it’s time to renew your lease, there is no guarantee that the property will continue to be available. When you own a home, adapting your living situation is a process and involves finding a buyer, as well as the transfer of taxes, title insurance and other legal documents. However, it will give you the stability needed to build long-term success.
In many markets, it’s cheaper in the long run to own a home than to rent, as rent prices have risen steeply across the country. Contact your local Coldwell Banker affiliated agent to help you determine if purchasing a home is the right option.
