Daily Real Estate News | Tuesday, March 29, 2016 For the majority of home buyers, they want a home with about 9 percent more space than they currently have. A new study translates that to a median of 2,020 square feet. Read more: New Homes Are Getting Bigger and Pricier But the amount of desired square footage can vary quite a bit among the different age groups, according to findings from the National Association of Home Builders’ “Housing Preferences of the Boomer Generation: How They Compare to Other Home Buyers.” For example, millennial and Gen X buyers desire the most space, at more than 2,300 square feet. Baby boomers and seniors, on the other hand, mostly would be happy with homes that are under 1,900 square feet. Take a look at this chart below from NAHB that shows the gap between current and desired home sizes among the various age segments:   NAHB’s study also found that more than half of all home buyers across all age groups would like to have a home with three bedrooms. Thirty percent of respondents say they’d prefer four bedrooms or more. Millennials and Gen X’ers are most likely to want a home with at least four bedrooms. Source: “Housing Preferences Across Generations (Part II),” National Association of Home Builders’ Eye on Housing (March 17,...

Posted in Staging Tips, by Blog Contributor on January 18, 2016 641 By Tori Toth One of the most cost-effective ways to prepare a home for sale is to organize it, but I know for many home sellers it’s no easy task. It’s important to contain and, in fact, erase clutter for three reasons: Gain more square footage. Showcase the positive features in the home. Buyers can visualize living in the space. Clutter comes in all different forms and it lingers in most homes. So if you see piles of paperwork, clothes on the floor, stuffed closets — it’s time to declutter! Here are some tips: 1. Start small. Organizing is an evolving process that changes as the needs of a home owner change. Start small: One room, one closet, one corner. Just start somewhere! To make it count, tackle the first cluttered area a home buyer would see as they walk into the home. 2. Schedule it. Many times a home owner never starts the decluttering process because of time constraints. Schedule blocks of time (2-4 hours) or even just 15 minutes a day depending on what needs to be organized to make your goal a reality. 3. Find a home. One reason why clutter can build up in a home is if an item is homeless. Creating a place for each item in your home is a crucial part to obtaining an organized home. Of course, keeping the space in order only happens when you return an item back to it’s home after use.  4. Adopt “good habits.” By always returning an item home, you’re building in a maintenance system in your organizing process. Another good habit to adopt is to take 5-10 minutes every night and put items away. This way when you wake up in the morning, the house is ready to show off. For more tips on how to organize a home, view: “Lose the Clutter: Habits That Could Make or Break Your Home Organizing Goals.” ABOUT THE AUTHOR: Tori Toth is an Amazon best-selling author who wrote “Feel At Home: Home Staging Secrets for a Quick and Easy Sell.” She is also the founder of The Stage 2 Sell Strategy, the world’s first online home staging video course for home sellers. Toth opened her staging company, Stylish Stagers, Inc. in New York City back in 2009. Her book, how-to videos, newsletters, products and appearances now inspire hundreds of thousands of home owners and real estate experts worldwide. Meet Tori by visiting her website or Facebook Fan page....

If the piles of paperwork and jampacked closets have you feeling like a deer in the headlights, take a deep breath and a baby step…   It’s a common problem. You know you have way too much stuff for your available space, but you become paralyzed at the thought of decluttering. One solution is to start with something that takes minimal effort but makes a big impact in your home right away. From carving out a bit of breathing room in your closet to making a dent in the junk drawer, these five ways to begin the decluttering process are relatively painless. You can do this! Priestley + Associates Architecture Where Not to Begin Don’t plan to start with a major weekend-long purge. Plan to start being the key phrase. A big decluttering weekend can be a great way to make progress, but carving out such a large chunk of time may not be easy to arrange — and if you keep putting off getting started because you’re waiting for a big space to open up on your calendar, you could be waiting a very long time. A Darling Felicity Photography Don’t start with other people’s stuff. Oh, it is so tempting, I know! But although you may be dying to bag up your least favorite items from your spouse/significant other/kid/housemate’s space, resist the urge — it’s not likely to go over well. Even if you have way less clutter than the other members of your household, it’s important to take responsibility for your own part. If you’re lucky, the clutter-clearing bug will be catching! California Closets Don’t start at the front door. In theory, the entryway is a wonderful place to begin decluttering. But guess what tends to accumulate around the front door? Stuff you actually use a lot. That means that while there could be a few things to get rid of in this area, it’s more likely that the stuff just needs to be put away. But if everywhere else in the house is packed, there’s nowhere for the entryway clutter to go. Le Michelle Nguyen Where to Begin 1. Discard a few clothes. Removing some of the clothes and shoes you don’t wear from your closet and drawers is a good first step. By clearing out a bit of space in your bedroom closet, you can then tuck away some of the extra items (jackets, scarves, shoes) cluttering up your entryway, in effect clearing two areas of your home at once. If you’re following the Marie Kondo method of tidying, this is also where she recommends beginning. How to: Try not to get hung up on winnowing down your entire closet right now; just grab...

Quicken Loans, Freddie Team for 3% Loans DAILY REAL ESTATE NEWS | TUESDAY, OCTOBER 20, 2015 Quicken Loans has partnered with Freddie Mac to help expand a program that would allow qualified borrowers to finance homes with down payments of as little as 3 percent, the companies announced this week. The partnership comes at a time when Quicken Loans is battling allegations from the Justice Department over its past underwriting practicing on Federal Housing Administration-backed loans. Quicken Loans has sued the federal government, alleging the Departments of Justice and Housing and Urban Development “cherry-picked” from its FHA-backed loans in trying to show poor underwriting. In turn, the government sued Quicken Loans, accusing the firm of submitting insurance claims for hundreds of poorly underwritten FHA-insured loans over four years. Both lawsuits are still the pending. The lawsuit has prompted Quicken Loans, like other large lenders, to reduce its involvement in the FHA single-family program, which offers mortgage insurance for first-time and lower-income borrowers. Lenders such as JPMorgan Chase & Co. also have been reportedly hesitant to underwrite FHA loans. “Mid-size and small community-based lenders, both banks and nonbanks, have stepped up to fill the gap,” says Glen Corso, executive director of Consumer Mortgage Lenders of America. Quicken Loans, under its new agreement with Freddie Mac, will offer financing for loans with down payments as small as 3 percent – which is lower than the 3.5 percent for FHA loans. “Home buyer demographics will continue to significantly shift in upcoming years, and mortgage programs must evolve to serve the needs of groups like first-time buyers and minority groups,” Quicken Loans Chief Executive Officer Bill Emerson says. Source: “Quicken Joins Freddie Mac to Offer Loans While Battling U.S.,” Bloomberg (Oct. 19, 2015)  ...

7 Tips to Get a Home Winter-Ready DAILY REAL ESTATE NEWS | WEDNESDAY, OCTOBER 21, 2015 Winter is on the way, and home owners should preparing their homes for the colder temperatures. The National Association of Home Builders Remodelers suggested home maintenance tips to increase energy efficiency and lessen the chance of emergency repairs. “Before winter weather sets in, spend some time improving and protecting the inside of your home,” says NAHB Remodelers Chairman Robert Criner. “Fall is a good time to check mechanical systems and combat drafts. It’s also an opportune time to organize the details of your next remodeling project and save space on the calendar of a professional remodeler.” Share these tips with your prospects to help them better protect their home during the colder months ahead. Ensure there are no gaps in insulation or crawl spaces that expose pipes to cold air, which could put the pipes at risk of freezing and bursting. Have your heating system checked by a licensed technician before cold weather requires daily use. Block drafts around doors, windows and baseboards with weather stripping, window film and caulk to control heat loss. Install storm doors and windows to improve energy-efficiency and get rid of drafts. Have chimneys cleaned by an experienced chimney sweep to prevent the risk of a fire from buildup or blockages. Spray door locks with powdered-graphite lubricant to prevent freezing and sticking. Set ceiling fans to rotate clockwise to force rising warm air back towards the floor. Source: National Association of Home Builders Remodelers  ...

Best Day of the Year to Buy a Home DAILY REAL ESTATE NEWS | FRIDAY, SEPTEMBER 11, 2015 Mark Oct. 8 in your calendar. That’s the best date to close on a home at a bargain price, according to a new study by RealtyTrac. On average, buyers have purchased 10.8 percent below estimated market value on this date for the last 15 years, the study shows. The next best buying dates for house hunters are Nov. 26 (10.1 percent below market value); Dec. 31 (9.7 percent); Oct. 22 (9.6 percent); and Oct. 15 (9.1 percent). RealtyTrac analyzed more than 32 million sales of single-family homes and condos to come up with the data. Overall, October offered the most promise for bargain hunters. Over the last 15 years, the 2.7 million sales that have closed in October carried an average sales price 2.6 percent below the average estimated full market value at the time of sale. After October, the best deals are in February, July, December, and January. Meanwhile, the worst month of the year to buy a home — but the best to sell — is April. On average, buyers who purchased in April over the last 15 years bought their home at a premium of 1.2 percent above estimated market value at the time of sale. The study also found the best weekday to buy a home is on a Monday. Of 5.5 million single-family home and condo sales in the past 15 years that closed on a Monday, buyers saw an average discount of 2.3 percent below full estimated market value at the time of sale. Friday is the next best weekday, with buyers seeing an average discount of 2 percent. Thursday, on the other hand, was found to be the worst day of the week to buy, with a 1 percent average discount. By date, RealtyTrac found that the worst days of the year to close on a home purchase were Jan. 19 (buyers paid an average 9.6 percent premium above estimated market value); Feb. 16 (9.5 percent); April 20 (9.5 percent); April 6 (8.4 percent); and April 27 (8.2 percent). Source: RealtyTrac   Read more...