Navy Fellas Realty Group

Real Estate, Residential sales and purchase

Home Maintenance Tips: How to Organize Your Garage

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Home Maintenance Tips How to Organize Your GaragePerhaps you plan to sell your home in the next few months or years. Keeping your garage organized can save time and ensure that you have storage space when you need it most.

Get Your Purge On!

Clear out the garage and separate items into categories: keep, trash, donate and recycle. If you get rid of 50 percent of your stuff, you’re doing great. The more you can get rid of up front, the less you have to organize! And if you haven’t used it in years, why would you need to keep it around?

Create Zones

Map out space with masking tape, starting with where your vehicles go. Mask out where you can put heavy-duty shelves for tools, sports equipment and other stored items. Also, you can maximize storage by building cabinets or shelving from floor to ceiling.

Buying clear bins in various sizes and interlocking shapes helps you stay organized. When you store like items together, it’s much easier to find them, especially if everything is properly labeled.

Think strategically. If your garage doubles as a workshop, include space for a workbench. If you bike every day, hang your wheels on the wall near the garage door. Additionally, remember to include garbage and recycling bins near the door for easy access. 

Organizational Supplies
With the zones mapped, it’s time to get organized. For example, store shovels, rakes and brooms in a large trashcan. Meanwhile, sporting equipment such as bats, balls, skateboards and protective pads can go into larger bins, on shelves or inside lockers. Pegboards provide a versatile way to hang tools you use the most.

A cabinet that locks protects children and pets from hazardous materials like chemicals, paint and cleaning supplies. Meanwhile, constructing long open shelves of wood or metal gives you plenty of support for heavy storage bins, while a rolling cabinet lets you move craft supplies or gardening implements.

Storing Small Stuff

What can you do with screws, nails, hooks, nuts and myriad small items on a limited budget? Repurposed glass containers or mason jars let you see contents clearly while recycling. Use tin cans for screwdrivers and paint brushes. 

Once your garage is neat and clean, you may find yourself spending more time there. You might even have enough room for a home office or craft corner. A well-planned organizational strategy helps you keep it that way. 

If you are interested in listing your current property or buying a new property, be sure to contact your trusted real estate professional.

 

NAHB: Home Builder Confidence Rises in April

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NAHB: Home Builder Confidence Rises in AprilHome builder confidence increased in April to an index reading of 63, which was one point higher than for March and the highest reading in six months. Analysts said that April’s reading revealed more about housing market conditions in the past six months than it was an indicator of future market conditions.

November’s builder confidence reading was the lowest since housing markets tanked in 2008, Builder confidence recovered over the past few months despite headwinds including higher materials costs and shortages of labor and buildable lots.

Home Builder Confidence Holds Steady Despite Headwinds

NAHB Housing Market Index readings over 50 indicate that most home builders are confident about housing market conditions. While April’s reading was comfortably above the benchmark, the average reading so far in 2019 is 61 as compared to 2018’s annual average reading of 67.

Component readings of the Housing Market Index were mixed in April. Builder confidence in current housing market conditions rose one point to 69; confidence in housing market conditions over the next six months dropped one point to 71 and the reading for builder confidence in buyer traffic rose three points to an index reading of 47. Readings for builder confidence in buyer traffic seldom exceeds 50.

Market Conditions Expected to Improve, but Obstacles Persist

Improving weather conditions and the peak home-buying season should boost builder confidence and housing market conditions, but rapidly rising home prices and affordability concerns could dampen housing markets and builder enthusiasm. Analysts report that no major changes are expected to mortgage rates in 2019. If this holds true, potential homebuyers are likely to take advantage of lower rates to buy homes. Analysts also said that initial impact of new tax laws has faded; more home buyers are expected to enter the market.

Market conditions depend on buyers and sellers; their motivations, resources and ability to “stay put” impact individual home sales. Buyers who depend on financing their home purchases are competing with increasing numbers of cash buyers; the National Association of Realtors ® traditionally reported about 10 percent of home sales were cash transactions, in recent years cash sales have increased to approximately 20 percent of home sales.

Homeowners are more likely to accept cash offers rather than accepting offers from buyers who must qualify for mortgages under a lengthy and precise approval process. Trends indicate that more homeowners are choosing to stay in their homes; this and exclusionary zoning laws in some areas are reducing the number of homes available.

 

Staging Your Home: Here Are Your Self-Storage Options

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Staging Your Home Here Are Your Self-Storage OptionsIf you’re staging your home to sell, you may find yourself with more stuff than space. Rather than selling possessions that you’d rather not part with, you can put your things into short-term storage until your home sells and you’re able to move.

Here are some options you have when choosing and using a self storage unit.

Climate Controlled Or Not

Climate controlled units are located inside buildings. They could be compared to an apartment building, except instead of housing people, these storage buildings house belongings. Inside, they are powered with electricity and a temperature control that is temperate.

The advantage of a climate controlled storage unit is that your possessions won’t get above average hot or below average cold. If you plan to store certain items that are temperature sensitive, such as photographs, antique wood furniture or heirloom paintings, a climate controlled unit is a must.

Self storage units that are not climate controlled are typically located in garage-like buildings with a garage door opening that is open to the outside. There is usually no electricity or power inside the unit, so if you want to visit at night or on a dark day you’ll need to bring a flashlight.

There is no temperature control, so whatever the temperature is outside, it will be similar inside the unit. Depending on the climate you live in, it could get freezing inside the unity or extremely hot. If you’re planning on storing things that can withstand extreme temperatures, like a small motor vehicle, clothing or kitchen goods, you could opt for a unit like this.

Ground Level Or Above

Climate controlled storage buildings usually have more than one floor. Often, the ground level units are considered to be more convenient, so the rental rate may be higher than those on a higher floor. If you choose a ground level unit, you’ll be able to access your unit without navigating up and down an elevator for every trip back and forth to your car.

Units on higher floors will have access via a freight elevator. The freight elevator will be large enough to hold even your larger furnishings, such as couches, bureaus and desks. You’ll still be able to use a hand truck to cart your belongings, but you’ll have the disadvantage of having to wait for the elevator since other renters will also be using it.

Knowing these things ahead of time will help you make your decision about what kind of self storage unit to rent. No matter which one you choose, you can rest assured that your belongings will be safe and sound until you’re ready to bring them to your new home.

If your house is on the market, be sure to consult with your trusted real estate professional for staging tips that will really appeal to prospective home buyers!

8 Curb Appeal Tips for Selling Your Home Fast

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8 Curb Appeal Tips for Selling Your Home FastFrom small touches such as new lighting to larger efforts such as tiling the porch or stoop, creating curb appeal is one of the best investments you can make to resell your home fast.

Here are eight ideas to maximize curb your appeal.

Landscaping Is Critical For The First Impression

  • Cut Back Trees and Shrubs. Landscaping should enhance your house, not overwhelm it. Trimming can bring impressive results. If you don’t have a steady hand, leave it to a professional or handy relative.
  • Manicure Your Lawn. A freshly mowed lawn is a must the week before a showing. Be sure to trim and edge it for a finished look that increases your curb appeal. 
  • Plant Some Color. If the weather permits, flowering plants are a cheap way to brighten the walkway leading up to your front door. It also gives the home a fresh vibe. Adding fresh mulch to your flower beds is a great quick fix, even in colder weather.

Don’t Forget Your Home’s Exterior

  • Paint the House. If you can’t afford to paint the whole house and the exterior paint is in good condition, consider retouching the trim. The gives your home a sense of newness. If the exterior colors are outdated, painting the home should be a budget priority.
  • Clean the Roof and Gutters. If anything is likely to attract a buyer’s attention, it’s clogged gutters, tree branches brushing the roof and algae growth. If you’re in a drier climate, make sure you don’t have obvious roof damage or missing tiles. If you need to replace the roof, it’s better to get it over with. Chances are, you’ll make up the money with a faster sale at a higher price. 
  • Clean the Walks and Driveway. Pressure wash patios, drives and walkways. Put fresh sealant on black-top driveways for a like-new boost to one of the areas buyers notice first.

Spruce Up The Outdoor Areas

  • Make Outdoor Living Space Inviting: Take steps to make porches, patios and decks clean and inviting. This might include repairing wood decks and restaining them. If you can replace old furniture, it’s a great investment that you can take with you when you go. 
  • Stage the Yard: Just as you stage the inside of the home, it’s important to declutter and depersonalize your outside living area. You can leave furniture in neutral colors so that the buyer can imagine themselves in the space. However, bikes, kids’ toys and the rusted grill need to be stored out of site. 

These basic ideas go a long way toward improving the curb appeal of your home. In return, you may be very happy with the positive effects on the sale of your home.

Your trusted real estate professional has many tips to make your home appealing to the most buyers. Communicate often with this valuable resource to ensure that you are set up to sell quickly.

 

What’s Ahead For Mortgage Rates This Week – April 14th, 2019

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What's Ahead For Mortgage Rates This Week - April 8th, 2019Last week’s economic readings included reports on inflation, mortgage rates, and first-time jobless claims. Monthly reporting on consumer sentiment was delayed.

Consumer Price Index: Inflation Rises in March

The Consumer Price Index rose 0.40 percent in March, which matched expectations and surpassed February’s month-to -month reading of 0.20 percent growth. The March reading showed the highest consumer price growth in 14 months; higher rents, fuel and food prices contributed to month-to-month price gains in March.

The Core CPI excludes volatile food and energy sectors and was unchanged in March although 0.20 percent growth was expected. February’s reading showed 0.10 percent growth. Inflation increased 1.90 percent year over year.

Mortgage Rates Rise

Freddie Mac reported higher mortgage rates last week that stopped weeks of decreasing rates. Mortgage rates for 30-year fixed rate mortgages averaged 4.12 percent and rose four basis points. Rates for 15-year fixed rate mortgages averaged 3.60 percent and were also four basis points higher than during the prior week. The average rate for 5/1 adjustable rate mortgages jumped 14 basis points to 3.80 percent. Discount points averaged 0.50 percent for 30-year fixed rate mortgages and 0.40 percent for 15-year fixed rate mortgages and 5/1 adjustable rate mortgages.

Freddie Mac reported fewer mortgage applications in response to higher rates. Potential homebuyers were sensitive to higher mortgage rates, but may not have to wait long for lower rates to return. Low 10-year Treasury yields suggested that mortgage rates are likely to fall and to remain lower during the peak home-buying season. Mortgage rates are expected to stay comparatively low throughout 2019 according to Freddie Mac.

New Jobless Claims Fall To Lowest Since 1969

First-time jobless claims fell last week to 196,000 initial claims filed as compared to the prior week’s reading of 204,000 new claims filed. Last week’s reading was the first to fall below 200,000 initial claims since 1969 and provided another sign of strong labor markets.

Federal Reserve FOMC Minutes Released

The Federal Reserve released minutes of the Federal Open Market Committee meeting held in March. The minutes explained the Committee’s reversal of its plan to raise the target range of the federal funds rate twice during 2019. Committee members said that they were holding off on raising rates due to slowing in domestic and global economic conditions. While Committee members said that the current economy is strong, they were willing to exercise patience in raising rates based on slower growth of home prices and potential impacts caused by Brexit and slowing in China’s economy.

What‘s Ahead

This week’s scheduled economic reports include the National Association of Home Builders Housing Market Index, housing starts and building permits issued and data on retail sales. Weekly reports on mortgage rates and first-time jobless claims will also be released.

 

4 Ways A Little Paint Can Revitalize Your Home

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4 Ways A Little Paint Can Revitalize Your HomeFixing up your home to sell doesn’t have to be a budget-breaker. You can revitalize the look of your property with a little bit of paint in the right places.

Here are some areas that will really stand out to prospective buyers.

1. Front Door

The front door always makes the first impression on visitors to your home. Remember that while they are waiting to enter your home, potential buyers have nothing to do except get a good look at your front door. For maximum impact, paint the front door a contrasting color to your house color. If budget allows, add a new door knocker and door knob.

2. Shutters

Vinyl shutters are very affordable when you buy them online. Before you hang them, use a spray paint gun to paint them in a matching color with your front door, or a contrasting color to your house color. 

3. Interior Trim

If your home still has bare wood trim throughout, consider painting it. This will instantly modernize your home since exposed wood trim tends to date a house. The best trim color is actually a creamy shade – not white. White trim can come off as a little harsh, and your goal in most cases is to make your home look as warm as possible.

Based on the results after painting the trim, you may find that you don’t even need to worry about repainting the walls. Instead, just spot clean walls in areas where they most need it.

4. Statement Wall

Another way that a little paint can revitalize your home for sale is to paint just one wall in a room with a contrasting color. This is commonly called a “statement wall” because it helps define the room and make a big impact on guests.

Note that oil-based paint leaves a residual odor for quite some time. If your home is being listed soon, you’re probably better off using acrylic paint. Consult with your paint store representative for details. 

These projects can all be accomplished by anyone who’s a little bit handy around the home. With a little paint and some elbow grease, your home will be picture perfect for prospective buyers.

Your trusted real estate professional can help you narrow down which home improvements will be most appealing to buyers. Asking for this valued advise could save you both time and money.

 

 

 

FOMC Minutes Reveal Fed Policymakers U-Turn

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FOMC Minutes Reveal Fed Policymakers U-TurnMembers of the Federal Reserve’s Federal Open Market Committee voted to hold the target range of the federal funds rate to its current range of 2.25 to 2.50 percent. The minutes of the most recent Committee meeting cited softening domestic and global economic conditions as reason for not raising the target federal funds range.

While labor markets remained strong, the minutes noted that household spending and business investment slowed in the first quarter of 2019. FOMC members expected Gross Domestic Product growth to slow as compared to its 2018 pace.

While current inflation and the national unemployment rate fell in line with the Fed’s dual mandate of seeking maximum employment and price stabilization, inflation fell due to falling fuel prices. The meeting minutes said that the Committee would be patient as it determined which, if any, action would be appropriate regarding the federal funds rate.

Strong Labor Sector Indicators Offset Lower GDP

Labor sector indicators remained strong with a national unemployment rate of 3.80 percent; labor force participation rose and the ratio of employment to population also rose. Strong employment and consumer sentiment readings suggested that more households may transition from renting to buying homes. Home sales recently fell due to affordability issues and rising mortgage rates.

Factors influencing FOMC monetary policy decisions include labor market conditions, inflation expectations and readings on domestic and international financial developments. The meeting minutes noted that near-term adjustments to monetary policy were dependent on changes to current economic outlook according to emerging data. The Committee consistently says that monetary policy positions can change according to developments in global and domestic economic data.

Fed Chair‘s Press Conference

Federal Reserve Chairman Jerome Powell said during his post-FOMC meeting press conference that the Committee’s “wait and see” stance on raising the target range of the federal funds rate was based on information received since growth expectations based on 2018’s economic growth rate of 3.10 percent. As of September 2018, the Fed forecasted economic growth of 2.50 percent in 2019, but subsequent information caused the Fed to downwardly revise its growth estimate.

Mr. Powell said that global economic slowing was expected in Europe and China; unresolved issues including Brexit and ongoing trade negotiations were given as reasons for slower global economic growth. While domestic and international economic forecasts indicated a modest slowdown in economic growth, Chairman Powell said that overall economic conditions remained favorable.

If you are in the market for a new home, be sure to consult with your trusted real estate professional to get the most up-to-date information about the market trends in your area.

Can You Really Buy Off-Planet Real Estate?

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Can You Really Buy Off-Planet Real EstateReal estate agents are constantly looking for new listings, which will attract potential buyers. We no longer need to limit our search for good listings to planet Earth because Mars is now for sale.

Although this may sound a bit far-fetched at first, it is not such a strange concept if you consider the serious efforts being made to colonize Mars with the commercial efforts by companies like Space X. There is a company, called Lunar Land, which is already selling acres of land on Mars as a novelty.

Historical Precedent

Off-planet land sales have already had considerable success for those crazy enough to sell titles to land on the Moon. Lunar Embassy, which started in 1980, claims to have sold 2.5 million acres of the Moon for about $20 per acre. That’s $50 million in revenues.

This happened in spite of the Outer Space Treaty, which was signed by the US, the UK, and the Soviet Union. The treaty went into force according to Earth’s laws on October 10, 1967. Currently (February 2019), there are 108 countries who signed the treaty and 23 more who signed it but have not yet legally ratified it in their home country.

There is a loophole. There are 195 countries in the world. That means 64 are not a party to the Outer Space Treaty. Any of these countries can legally lay claim to any off-planet real estate according to their own country’s laws.

It’s A Fad Now That Becomes A Reality In The Future

Buying acres of land on Mars is really a fun fad. It has symbolic value but really has no practical value to earthbound persons. In a few decades, this may change.

The estimates by SpaceNews are that it will cost $230 billion to establish a human outpost on Mars with the target date of 2035. Each resupply mission, once every three years thereafter, will cost about $142 billion. The total cost to start the colonization of Mars is about $1.5 trillion.

Mars has about 35 billion acres. That means a commercial colonization program can “own” Mars for only $42.85 per acre.

The Mars Experience On Earth

One way to make this fantasy of colonizing Mars more real is to set up a practice project on Earth. We searched and found the worst, cheapest land in the United States. It is available for purchase at a mere $50 per acre. It is the worst kind of remote desert land with horrific conditions and no natural resources. However, even with the worst Earth conditions, it is a paradise compared to the challenge of living on Mars.

Some clever entrepreneur should create the Mars Habitat on Earth and invite participation to buy land and habitation in a project that develops a workable living space that is self-contained in these harsh desert areas on Earth.

If you are interested in buying a property here on Earth, contact your trusted real estate professional to assist in finding the home of your dreams.

3 Ways to Reduce the Environmental Impact of Your Home Renovation Project

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3 Ways to Reduce the Environmental Impact of Your Home Renovation ProjectThe right home renovation strategy can increase property values and improve the comfort and utility of your space. However, your actions could have a harsh impact on our natural resources.

Here are several ways you can reduce your renovation’s effect on the environment.

Use Sustainable Products

Choose Earth-friendly materials for a greener build.

  • Try reclaimed flooring. Ask permission at construction sites or search internet exchange boards to find unwanted extras. With a little artistic imagination, you can turn those cast-offs into a unique visual display.
  • Re-purpose existing material. Turn old doors into unique furniture pieces like tables and privacy shades to spruce up your new space.
  • Pick low-VOC paints to eliminate harsh chemicals in your immediate environment.

The best way to lower your impact on the Earth is to carefully choose which products you use in your project.

Evaluate Your Trash

Think about what you’re putting in the dumpster. Instead of taking up space in a landfill, many items can be redistributed and put to better use.

  • Donate household items that are no longer needed in your new space to your favorite charity.
  • Contact your local Habitat for Humanity office to help your community by donating your unused construction materials.
  • Contact your local school district. Some teachers take community donations to use in their classrooms.

Your trash could be someone else’s treasure. Don’t toss out something that others might need.

Take Care Of Your Immediate Area

Your environment includes the area in which you live. Use these tips to keep your property pristine during and after construction.

  • Rent a dumpster to make clean up easier. Pick up tools, trash, and other items at the end of each work session.
  • Use plastic tarps to protect landscaping and plant life from flying debris or chemical sprays.
  • Dispose of chemicals properly. Never pour paints, solvents, or other chemicals into your plumbing system or down a municipal drain.

Protect your neighborhood by taking careful actions during your build.

A home renovation is a fresh start for your property. Make it even more enjoyable by adding these Earth-friendly strategies to your construction plan.

If you’re planning to update your home before you put it on the market, be sure to contact your trusted real estate professional to discuss the improvements that will get you the most out of your investment.

What’s Ahead For Mortgage Rates This Week – April 8th, 2019

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What’s Ahead For Mortgage Rates This Week – April 8th, 2019Last week’s economic news included readings on construction spending and inflation; labor sector reports on the national unemployment rate, public and private sector employment were also released. Weekly readings on mortgage rates and new jobless claims were also released.

Construction Spending Rises, Retail Sales Slip

Construction spending expanded by one percent in February according to the Commerce Department spending was one percent higher month-to-month; analysts expected a negative reading of -0.10 percent. February saw a revised gain of 2.50 percent growth in construction spending.

Construction spending grew 1.10 percent year-over-year; by comparison, 2016 construction spending reached 10 percent year-over-year. High demand for homes and lower mortgage rates could compel more construction spending as the peak home-buying season starts.

Retail sales slowed in February, but January retail readings were strong. Sales dipped -0.20 percent as compared to 0.30 percent growth expected and January’s reading of 0.70 percent. Retail sales excluding automotive sales fell to a negative reading of -0.40 percent in February as compared to expected sales growth of 0.40 percent and January’s reading of 1.40 percent growth.

Mortgage Rates Mixed, New Jobless Claims

30-year fixed mortgage rates rose two basis points on average to 4.08 percent; rates for 15-year fixed rate mortgages averaged one basis point lower at 3.56 percent and rates for 5/1 adjustable rate mortgages were nine basis points lower and averaged 3.66 percent.

Discount points averaged 0.50 percent for 30-year fixed rate mortgages and 0.40 percent for 15-year fixed rate and 5/1 adjustable rate mortgages.  Would-be home buyers are expected to join active buyers as lower rates hold steady and warmer weather arrives.

First-time jobless claims fell last week with 202,000 initial claims filed. Analysts expected 216,000 first-time jobless claims based on 212, 000 new jobless claims filed the prior week.

Jobs Data Varied, but Unemployment holds Steady

ADP reported 129,000 private-sector jobs added in March as compared to 197,000 jobs added in February and an expected reading of 165,000 jobs added. Loss of manufacturing jobs caused private-sector jobs growth to fall to its lowest reading in 18 months.

Government readings for public and private jobs growth was higher in March with 196,000 jobs added; this was significantly higher than February’s slim reading of 33,000 jobs added. The national unemployment rate was unchanged at 3.80 percent, which matched expectations.

What‘s Ahead

This week’s scheduled economic news includes readings on inflation, minutes from the most recent FOMC meeting and consumer sentiment. Weekly readings on mortgage rates and initial jobless claims will also be released.