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What’s Up With Housing?

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Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future.
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A disaster declaration in the just-expanded 37 Florida counties will aid local gov’ts and allow HUD to help with federal housing needs, such as foreclosure relief.
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Do you know what your house is worth? Have you stayed put because you are nervous you won’t have enough equity to buy your dream home?
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This report gives the results of a survey of REALTORS® on the effectiveness of home staging.
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What’s Up With Housing?

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Zillow maintains that more than half the homes it lists sell within five percent of the home value “Zestimates” it gives for them. The Tampa Bay Times looked at 20 houses for sale on both sides of bay to see if that held up.
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People tend to be too optimistic about rental rates, vacancies, management fees, maintenance costs and home value increases.
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With so many generations to serve in Florida’s increasingly attractive housing market, how can developers be sure their product supply will appeal to their target audience?
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The federal consumer bureau says it’s okay for lenders to share buyers’ Closing Disclosure with agents, and it’s announcing soon the how-to-do-it details.
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Report: The number of homeowners (about 1.8M) who still owe more on a mortgage than their home’s current value has hit its lowest point since 2006.


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Recent Housing News

Take a look at the Skyway Marina District’s New Sizzle Reel.

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Millennial Home BuyersMillennials in Tampa Bay are starting to buy houses and that’s going to revolutionize real estate.
However, here locally, high demand coupled with low supply means millennials can find themselves in fierce competition with other buyers for nice, affordable houses in popular areas.
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Florida Association of RealtorsFlorida Consumer Confidence Ticks Lower Before Election.
Consumer sentiment among Floridians declined 1.5 points in October to 90, according to the latest UF survey. The reading is the last one before Tuesday’s election.

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Housing And The CandidatesHow housing would fare under Clinton, Trump.
For an election supposedly based on the economy, housing policy has been egregiously absent from the rhetoric. Here’s what we do know.
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Will Interest Rates Rise?Fed Signals It’s on Track to Raise Rates in December.
The central bank held steady on rates, but its statement reinforced expectations that officials do not plan to wait much longer to raise them.

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Home ImprovementsFix These 10 Things That Are Hurting Your Home’s Value
Make sure to take care of some easy DIY repairs that could turn off prospective buyers.
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http://www.TitleSecurityFL.com

 


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8 Tips for Adding Curb Appeal and Value to Your Home

Curb AppealThe way your house looks from the street — attractively landscaped and well-maintained — can add thousands to its value and cut the time it takes to sell. But which projects pump up curb appeal most? Some spit and polish goes a long way, and so does a dose of color.

Tip #1: Wash your house’s face

Before you scrape any paint or plant more azaleas, wash the dirt, mildew, and general grunge off the outside of your house. REALTORS® say washing a house can add $10,000 to $15,000 to the sale prices of some houses.

A bucket of soapy water and a long-handled, soft-bristled brush can remove the dust and dirt that have splashed onto your wood, vinyl, metal, stucco, brick, and fiber cement siding. Power washers (rental: $75 per day) can reveal the true color of your flagstone walkways.

Wash your windows inside and out, swipe cobwebs from eaves, and hose down downspouts. Don’t forget your garage door, which was once bright white. If you can’t spray off the dirt, scrub it off with a solution of 1/2 cup trisodium phosphate—TSP, available at grocery stores, hardware stores, and home improvement centers—dissolved in 1 gallon of water.

You and a friend can make your house sparkle in a few weekends. A professional cleaning crew will cost hundreds–depending on the size of the house and number of windows–but will finish in a couple of days.

Tip #2: Freshen the paint job

The most commonly offered curb appeal advice from real estate pros and appraisers is to give the exterior of your home a good paint job. Buyers will instantly notice it, and appraisers will value it.
 
Of course, painting is an expensive and time-consuming facelift. To paint a 3,000-square-foot home, figure on spending $375 to $600 on paint; $1,500 to $3,000 on labor.

Your best bet is to match the paint you already have: Scrape off a little and ask your local paint store to match it. Resist the urge to make a statement with color. An appraiser will mark down the value of a house that’s painted a wildly different color from its competition.

Tip #3: Regard the roof

The condition of your roof is one of the first things buyers notice and appraisers assess. Missing, curled, or faded shingles add nothing to the look or value of your house. If your neighbors have maintained or replaced their roofs, yours will look especially shabby.

You can pay for roof repairs now, or pay for them later in a lower appraisal; appraisers will mark down the value by the cost of the repair. According to Remodeling magazine’s 2013 Cost vs. Value Report, the average cost of a new asphalt shingle roof is about $18,488.

Some tired roofs look a lot better after you remove 25 years of dirt, moss, lichens, and algae. Don’t try cleaning your roof yourself: call a professional with the right tools and technique to clean it without damaging it. A 2,000 sq. ft. roof will take a day and $400 to $600 to clean professionally.

Tip #4: Neaten the yard

A well-manicured lawn, fresh mulch, and pruned shrubs boost the curb appeal of any home.

Replace overgrown bushes with leafy plants and colorful annuals. Surround bushes and trees with dark or reddish-brown bark mulch, which gives a rich feel to the yard. Put a crisp edge on garden beds, pull weeds and invasive vines, and plant a few geraniums in pots.

Green up your grass with lawn food and water. Cover bare spots with seeds and sod, get rid of crab grass, and mow regularly.

Tip #5: Add a color splash

Even a little color attracts and pleases the eye of would-be buyers.

Plant a tulip border in the fall that will bloom in the spring. Dig a flowerbed by the mailbox and plant some pansies. Place a brightly colored bench or Adirondack chair on the front porch. Get a little daring, and paint the front door red or blue.

These colorful touches won’t add to the value of our house: appraisers don’t give you extra points for a blue bench. But beautiful colors enhance curb appeal and help your house to sell faster.

Tip #6: Glam your mailbox

An upscale mailbox, architectural house numbers, or address plaques can make your house stand out.

High-style die cast aluminum mailboxes range from $100 to $350. You can pick up a handsome, hand-painted mailbox for about $50. If you don’t buy new, at least give your old mailbox a facelift with paint and new house numbers.

These days, your local home improvement center or hardware stores has an impressive selection of decorative numbers. Architectural address plaques, which you tack to the house or plant in the yard, typically range from $80 to $200. Brass house numbers range from $3 to $11 each, depending on size and style.

Tip #7: Fence yourself in

A picket fence with a garden gate to frame the yard is an asset. Not only does it add visual punch to your property, appraisers will give extra value to a fence in good condition, although it has more impact in a family-oriented neighborhood than an upscale retirement community.

Expect to pay $2,000 to $3,500 for a professionally installed gated picket fence 3 feet high and 100 feet long.

If you already have a fence, make sure it’s clean and in good condition. Replace broken gates and tighten loose latches.

Tip #8: Maintenance is a must

Nothing looks worse from the curb–and sets off subconscious alarms–like hanging gutters, missing bricks from the front steps, or peeling paint. Not only can these deferred maintenance items damage your home, but they can decrease the value of your house by 10%.

Here are some maintenance chores that will dramatically help the look of your house.

  • Refasten sagging gutters.
  • Repoint bricks that have lost their mortar.
  • Reseal cracked asphalt.
  • Straighten shutters.
  • Replace cracked windows.

 via National Association of Realtors

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Recent Housing News

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FARAre millennials sold on using a real estate agent?   Most young adults still want a real estate agent to help them negotiate the buying process, but the percentage continues to drop.

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How To Decrease Your Home's ValueDo You Know the 5 Biggest Don’ts That Can Lower Your Home’s Value?
Many homeowners do things that they don’t even realize are bad for their home.
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5 Reasons Why 2015 is the Year to Buy a House5 Reasons Why 2015 is the Year to Buy a House…

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Millennial Home PreferencesMillennial Housing Preferences and Myths…
Why you should avoid making assumptions about this diverse group.  [Great Video]

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Happy 55+ AdultsThe 55+ Crowd is Happier Than Everyone Else…  Residents aged 55 and older have higher well-being in all 50 states than the state’s population as a whole.
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Jumbo Mortgage RatesMortgage Limits May Increase…
There’s a possibility that jumbo mortgages–loans higher than $417,000 in most areas of the country and $625,500 in high-price areas–may increase the baselines given the run-up in home prices for the first time in a decade.

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http://www.TitleSecurity.net

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