Navy Fellas Realty Group

Real Estate, Residential sales and purchase

How to Differentiate Your Home from the Neighbors for a Faster Sale

by

How to Differentiate Your Home from the Neighbors for a Faster SaleWhen it comes to selling your home, there can be a lot of options on the market, and nothing is quite so competitive as having your house listed right alongside the home of your neighbor. If you’re struggling with how to highlight your home to potential homebuyers, here are some things you can do to ensure it gets the attention it deserves.

Engage All The Marketing Options

Many people prefer their real estate agent to take care of the heavy lifting when it comes to selling a home, but there’s no reason you can’t go beyond the typical measures to really get potential homebuyers interested. Instead of leaving it up to a website or a sign on the street, send out flyers to all of your neighbors and utilize social media as a resource for getting the word out. You may also want to create a website for your home that will highlight its features in the best light.

Emphasize The Special Details

You may not think that the small things matter when it comes to selling your home, but the little details add up and they can actually make your home quite memorable to someone who’s seen a lot of open houses. Whether you’ve installed them or they were there already, your house probably has a special feature like brightly cultured kitchen tiles or an interesting light fixture; just ensure it’s effectively displayed and your home will stand out from the pack!

Clean Up The Curb

It’s possible that you have a stunning panoramic shot of your home from the outside, but if your house looks nothing like this when potential homebuyers arrive they’ll immediately be reconsidering the visit. Instead of leaving this to chance, make sure that you’ve done any minor repairs to the exterior of the house, cleaned up the lawn and organized everything so nothing looks messy or disheveled from the street. Your exterior will provide the initial impression, and nothing will make your home stand out from your neighbors like an immaculate facade.

It can be a struggle to know how to best display your house so it stands out, but by organizing the exterior and highlighting your home’s special features, you may be on your way to an ideal offer. If you’re getting ready to put your home on the market, contact your local real estate professional for more information.

What’s Ahead For Mortgage Rates This Week – July 5, 2016

by

Closing Paperwork: How to Read and Understand the Truth-in-Lending Disclosure StatementLast week’s economic events included S&P Case-Shiller’s Housing Market Indices for April along with reports on Construction Spending and Pending Home Sales. Consumer Confidence was higher in June in spite of low wage growth and inflation well below the Fed’s goal of 2.00 percent annually.

S&P Case-Shiller: Home Price Growth Ticks Downward

April home values grew by 5.40 percent in April on a seasonally-adjusted annual basis. Case Shiller reported a drop in momentum from the March reading of 5.50 percent according to the S&P Case-Shiller 20-City Home Price Index. While no city included in the 20-City Index reported lower home values, the rate of growth appears to be slowing. High home prices driven by high demand and slim inventories of available homes may continue to lose steam as high home prices coupled with stricter mortgage requirements sideline first-time and moderate income buyers.

Pending home sales in May saw their first decline since August 2015 According to the National Association of Realtors®, Pending sales dropped from April’s downwardly revised index reading of 115.0 to 110.8. Pending home sales were -3.70 percent lower in May as compared to April’s reading of +3.90 percent. The drop in pending sales, which represents homes under contract that are not yet closed, is largely blamed on markedly low inventories of homes for sale in many areas.

Construction spending was higher in May, but remained in negative territory with a reading of -0.80 percent as compared to expectations of +0.50 percent and April’s reading of -2.00 percent. While the overall reading appears unremarkable, residential construction spending was 5.30 percent higher in May.

Mortgage Rates Lower, Jobless Claims Rise

Freddie Mac reported lower mortgage rates in the aftermath of Great Britain’s vote to leave the EU. Rates for a 30-year fixed rate mortgage averaged 3.48 percent.15-year mortgage rates averaged 2.78 percent and the average rate for 5/1 adjustable rate mortgages was 2.70 percent. Discount points were also lower at 0.50, 0.40 and 0.50 percent respectively.

Jobless reports jumped due to the end of the school year; New York State in particular allows some workers to file jobless claims when schools are closed. 268,000 new jobless claims were filed as compared to expectations of 265,000 new claims and the prior week’s reading of 258,000 new claims.

Consumer confidence rose in June, but consumers were surveyed before the Brexit vote. Consumer confidence increased to 98.0 in June as compared to May’s index reading of 92.40.Stronger job markets and stabilized gas prices were seen as contributing factors that boosted consumer confidence.

What’s Ahead

Next week’s scheduled economic reports include several labor-related reports including Non-Farm Payrolls, ADP Payrolls, June’s national unemployment rate and minutes of the Fed’s last FOMC meeting. Freddie Mac’s survey of mortgage rates and weekly jobless claims will also be released.

4 Staging Tips to Achieve a Welcoming Feel

by

4 Staging Tips to Achieve a Welcoming FeelStaging a home effectively is among the best ways to make an impression on the market and get the purchasing offer you’re looking for, but it’s important to do it in a way that will really make homebuyers feel comfortable. While there are plenty of tricks of the trade to try, here are four ways your visitors are sure to feel right at home.

Give The Exterior A Boost

It’s pretty easy for many home sellers to forget about the outside, but the first thing visitors to your home will see is the exterior view so it needs to be in tip-top shape. By ensuring that you’ve trimmed the hedges, cleaned away any unsightly yard tools and done the small fix-ups to your front entrance, your guests are sure to have a positive first impression.

Buy A Beautiful Bouquet

Few things will be more inviting to home viewers than a beautiful flower arrangement that makes them feel like they’re in the midst of a well-kept space, so you may want to pick up a bouquet for your front entrance. Not only will this provide an instantly striking visual, it will also give off a pleasant smell which can be key when it comes to engaging home viewers.

Depersonalize Your Property

It’s certainly the case that a staged home is likely to have more success on the market, but a home that has too many personal items like pictures and papers can actually sway viewers in the opposite direction. While it’s great to keep some personalized pieces, you should definitely survey your house and take down what may make potential homebuyers feel like they’re intruding.

Clean It Up

Cleaning up your house before having guests over may be something of a cliché, but it’s never so important to spic ‘n’ span as it is when you’re staging your home. Instead of a sweep and a mop, ensure you’ve cleaned the bathroom top to bottom, vacuumed and mopped where necessary, and cleared away all the junk that will catch the eye of those who will be sure to notice any flaws.

There are a lot of things that go into effectively staging a home, but by cleaning up the outside and doing a thorough cleaning inside you’ll be able to make a positive impression. If you’re going to be putting your home on the market in the near future, contact your local real estate professional for more information.

5 Cheap Decor Ideas to Brighten up Your Bathroom

by

5 Cheap Decor Ideas to Brighten up Your BathroomDue to their size and the amount of work it can take to renovate them, bathrooms can be one of the least favorite rooms in the house for many people. However, there are little things you can add to instantly improve the look of this space. Instead of ripping out the tub or repainting, consider the following decor items for a much-needed boost.

Pick a Plant

A plant that can stand the heat of your bathroom is an instant way to add a new and natural element to an old, underappreciated space. With the addition of a deep, rich tone of green that will provide a pleasant scent and a unique shape, this is an instant, economical pick-me-up.

Add A Candle (Or Two)

Given the lovely scent that emanates from them and the dose of added color, candles can instantly change the appearance of a dram bathroom space. By adding one or two atop the toilet or on a cabinet, your bathroom will be a little closer to the spa experience.

Splurge On Fancy Bottles

If you’re a fan of beauty and bath products, there’s a good chance that you like to stock up on items like bath bubbles and shampoos; fortunately, items like these can make for a space that’s instantly appealing. The next time you’re at the drugstore, splurge on some beautifully packaged duds for some unexpected sophistication.

Replace Your Old Mirror

It may not seem like a mirror switch out will make much of a difference, but swapping out this stale household staple for a funkier version can completely change your bathroom. Whether you buy a new mirror with a funky frame or paint your old one a bold color, this will instantly revive the entire room.

Buy Some Colorful Towels

It may be a simple fix-up, but having a set of old towels hanging around can instantly downgrade the look of your bathroom. If your bathroom is a neutral color and you’re looking for a little dress-up, accenting with a set of colorful towels will instantly switch up the mood.

From the tiles to the tub, the idea of renovating a bathroom can seem like a huge undertaking, but there are little decor items you can add that will really change its look. If you’re renovating your bathroom and are preparing to put your home on the market, contact your local real estate agent for more information.

3 Tips for Planning Your Monthly Mortgage Payment

by

3 Tips for Planning Your Monthly Mortgage PaymentOnce you’ve purchased a home and decided on a move in date, it may seem like a lot of the hard stuff is over, but you still have one of the most important things relating to such a large purchase to think about: the payments! If you’re looking for a few tips on ways to approach your monthly payment, the following will steer you in the right direction so you can broach your mortgage schedule successfully.

Set Up A Payment Schedule

Many people have been in the situation of neglecting their phone or credit cards by forgetting about the payment due dates, but this can cause a lot of strife when it comes to an investment as large as your home. Instead of leaving it to chance, choose a day each month and ensure that your bank is transferring the funds over automatically so you never have to worry about missing a payment. This will help you retain a reputation as a responsible borrower and it means you won’t have to deal directly with this important expenditure each month.

Be Aware Of Ways To Pay

Instead of being in the dark about ways to pay your mortgage each month, talk to your bank about your options for making your monthly payments in a timely, hassle-free manner. Before you get into the nitty-gritty of home ownership, look into this as soon as you’ve signed off on the papers so you know the best way to approach each month. This will prepare you for your approximate total mortgage payment.

Is It Really Affordable?

If you’re associated with a lender you trust, you’ve probably already been made aware of the amount of house you can and can’t afford, but ensure you’ve sat down and thought about what all the added interest on your home means. While it can certainly be a huge financial commitment for anyone to commit to a monthly mortgage payment, being able to swing the expense consistently is the difference between financial well-being and a purchase you’ll come to regret.

Making the decision to invest in a home can be one of the most exciting things you’ll commit to in adulthood, but ensure you’re aware of just what your monthly mortgage means so that it’s not something you’ll look back on. If you’re currently on the market for a home, contact your local mortgage professionals for more information.

What Young Buyers Want: 4 Home Must-haves When Selling to Millennials

by

What Young Buyers Want: 4 Home Must-haves When Selling to MillennialsMany millennials are set to flood the real estate market in the coming years to invest in a home of their own, but what is it that this group of young people is looking for in their property? From sizeable kitchens to a sustainable ethos, here are some of the things that will likely appeal to millennials searching for an ideal place of their own to settle.

A Suburban Location

There’s something to be said for city life, but many millennials are actually flocking to the safety and comfort of the suburbs in the hopes of finding more economical options for housing. With real estate prices going up all over and seeing even higher spikes in city centers, properties that offer a better price and a good-sized space are becoming a more desirable option.

A Carpet-Free Living Space

There was once a time when homes were carpeted top to bottom and it was considered the must have look, but in recent years hardwood has become all the rage with its easy-to-clean ability and durability. While there are many risks associated with carpet and its overall cleanliness, the low maintenance quality of hardwood is making it an absolute must for many homebuyers.

Smaller Is Better

The oversized mansion with 3 extra bedrooms, 4 bathrooms and a huge yard used to be something that many homeowners idealized and aspired to, but with the rising cost of real estate and the awareness of all that goes into a home, people are shirking off this old world fairy tale. As opposed to sizeable estates, most millennials would prefer a space they can feel comfortable in and also maintain at the same time.

An Up-To-Date Area For Entertaining

Small-scale homes certainly feed the necessity for open spaces, but it just so happens that many millennials are also looking for great spaces for entertaining and an open concept kitchen achieves just this. Instead of four walls and outdated appliances, millennials want stainless steel, a lot of countertop space and a place they can comfortably hang out with their family and friends for hours on end.

Many millennials are currently perusing the market for their ideal starter home, but smaller homes with an open concept are often better when it comes to catching the interest of this group of buyers. If you’re currently on the lookout for a great deal, contact your local real estate professional for more information.

What’s Ahead For Mortgage Rates This Week – June 27, 2016

by

Whats Ahead For Mortgage Rates This Week May 18 2015Last week’s economic news was dominated by Great Britain’s vote to withdraw from the European Union. New and Existing Home Sales were released along with weekly reports on mortgage rates and new jobless claims.

“Brexit” Vote Tanks Stocks, Could Cause Lower Mortgage Rates

US stocks plunged in reaction to the news of Britain’s decision to leave the EU and the resignation of its Prime Minister. While investors don’t want to see their 401(k) values crash, mortgage rates may also fall as a result of “Brexit”. Fallout caused by economic uncertainty connected with Great Britain’s move to regain independence is expected to have lingering influence on global financial and economic developments in coming months and years.

Fed Chair Janet Yellen said in testimony before the Senate Banking Committee that Great Britain’s decision to leave the EU could have significant consequences. Chair Yellen’s comments were made prior to Friday’s announcement of Great Britain’s decision.

Existing Home Sales Highest Since 2007, Home Prices Continue Rising

According to the National Association of Realtors® May sales of pre-owned homes hit their highest level since February 2007. May’s seasonally-adjusted annual reading of 5.53 million sales fell just shy of analysts ‘expectation of 5.55 million sales, but exceeded April’s reading of 5.43 million sales. May’s reading represented a 1.80 percent increase in sales and a year-over-year increase of 4.50 percent.

Short supplies of available homes continued to drive up home prices according to NAR chief economist Lawrence Yun, who expressed concerns about affordability as home prices continued to outstrip wages and inflation. The national median home price was $239,700 in May, which was 4.70 percent higher year-over-year. Although first-time buyers typically represent about 40 percent of homebuyers, they currently account for 30 percent of homebuyers.

New Home Sales Fall in May

Sales of new homes slowed in May after jumping in April. According to the Commerce Department, sales of new homes fell by 6.00 percent on a seasonally adjusted annual basis. 551,000 new homes were sold against the expected reading of 560,000 new homes sold and April’s downwardly revised reading of 586,000 new homes sold. New home sales were 8.70 percent higher year-over-year in May.

Mortgage Rates Rise, Weekly Jobless Claims Fall

Last week’s mortgage rates don’t reflect the Brexit decision and rose slightly on Thursday. The average rate for a 30-year fixed rate mortgage was two basis points higher at 3.56 percent; the average rate for a 15.year fixed rate mortgage was also two basis points higher at 2.83 percent. The average rate for a 5/1 adjustable rate mortgage was unchanged at 2.74 percent. Discount points rose to 0.60 percent for a 30-year fixed rate mortgage but were unchanged at 0.50 percent for 15-year fixed rate mortgages and 5/1 adjustable rate mortgages.

What’s Ahead

Next week’s economic events include Case-Shiller Housing Market Indices, Pending Home Sales, Consumer Spending and Construction Spending

Getting to Know the Neighbors: 3 Tips for Building Good Relationships

by

Getting to Know the Neighbors: 3 Tips for Building Good RelationshipsOne of the factors involved in feeling truly comfortable in your community is the relationships that you’ve been able to establish with the locals in your neighborhood, but it can be hard to know how to nurture a good relationship. Whether you’re moving to a new home soon or are wondering how to make some nearby friends, here are some simple tips for ingratiating the ones that live closest to you.

Offer up Your Favorite Dish

It might seem like a bit of a risk, but one of the best ways to get to know your neighbors is to knock on their door and bring along your favorite treat as an offering. Whether it’s your famed banana bread or your best chocolate chip cookies, simply showing up on the doorstep with treats in hand will ensure your neighbors know that you want to get to know them, and they’ll likely be happy to return the favor down the road!

Throw A Little Party

If you don’t want to go through the trouble of taking treats over to all of your neighbors, you may want to consider throwing a party or backyard barbecue at your home for a more effective means of meeting everyone. By putting flyers around the community, you’ll easily interest other neighbors in your newfound presence on the block. As well, if you don’t want to go through all the planning of a big party, you can also make it a potluck style meal so everyone can share their own dish.

Make A Habit Of Neighborhood Walks

It’s certainly the least complicated of all the other options, but short walks through your neighborhood may also produce the most success in getting to know more about your neighbors. If you have a pet or a child, these tend to be automatic conversation starters, but a simple smile or ‘hello’ will also do the trick in making your face familiar. It also means you’ll get to know people over time and will be able to build a solid relationship.

It can often be hard to know how to integrate into a new community, but a simple smile or knock on the door can mean a lot when it comes to building a friendship with your neighbors. If you’re currently on the hunt for a home in a specific neighborhood, contact your local real estate professional for more information.

How To Host A Successful Open House

by

How To Host A Successful Open HouseFrom fixing up all the minor repairs to cleaning the house top-to-bottom, there are a lot of small details that go into organizing the perfect open house. However, in the rush to organize everything, there are a number of to-do’s that are easy to forget about. If you’re currently prepping your home and don’t want to miss the important stuff, here are some things you should contemplate before setting the date.

The Outside Look

The first thing potential homebuyers will notice when they arrive at your home is the outside, and that’s why it’s so important not to neglect it. Before organizing your open house, make sure the lawn is mowed, any unsightly hedges are trimmed and that your entrance area and flowerbeds are well maintained. Since potential homebuyers will see the outside before anything else, there’s no sense in losing them for having a disheveled lawn before they’ve even walked through the door.

Effectively Market The Event

Many home sellers want to believe that their house will sell itself, but if no one knows about your open house or bothers to show up, there’s no chance of getting any offers. While your real estate agent should be featuring your home on their website, you may also want to hand out flyers to your neighbors and make a few posts on social media sites like Twitter and Facebook to get the word out. There are no assurances when it comes to drumming up interest, but spreading the word with as many people as possible will likely find a few interested parties.

Use The Five Senses

It may not be the most common advice, but engaging potential buyers on a number of different levels can actually enhance the appeal of your home. Playing a little music can be a good way to make them feel comfortable, and you may want to do a little baking beforehand since the sense of smell can have a powerful impact. It may seem a little bit quirky, but there’s nothing to make people feel comfortable and at home like the scent of freshly baked treats and a little music.

There’s plenty of cleaning and organizing when it comes to an open house but it’s also important to look at the big picture when it comes to prepping for your home showing. If you’re nearly ready to put your home on the market, contact your local real estate professional for more information.

How to Market Your Home to Renters Online

by

How to Market Your Home to Renters OnlineMany people think that marketing their home is best left to the realtor since they have the expertise and knowledge to succeed at selling. However, there are plenty of ways that you and your realtor can approach the marketing for your home for an even more positive impact. If you’ve made the decision to put your home on the market as a rental, here are a few tips so you can be sure to find the right renters.

Make Use Of Social Media

Sites like Craigslist have long been popular for finding a place to rent, but in the times of social media, there are plenty of other ways to reach people who are looking for apartments or homes. Instead of having to rely on traditional means of marketing, take to Twitter or Facebook to post about your home rental and include a few pictures with a brief description. Not only will this reach all your friends and followers, it will ensure that they can pass the information along too.

Create A Home Website

There are many old-school means of marketing a home to interested parties, but the tricks don’t necessarily change when it comes to finding an ideal renter. If you’re entrusting your home to the reliability of renters, a professional website with a respectable realtor is still one of the best means of attracting the right crowd. With a selection of professional photos and a complimentary description, you should have a few good options in no time.

Splurge On Professional Pictures

There’s a reason that professional photography is expensive, but when it comes to marketing your home online, a good picture is one of the best tools you have in finding your audience. Because a professional photographer knows all the small stuff about lighting and accentuating your home’s best features, they’ll be able to provide you with the kind of images that are sure to capture attention. In addition, a professional photograph can go a long way towards getting the rental price you’re asking for.

There was a time when renters walked the neighborhood to find the best rental options, but with so much of the search having gone online, there are other ways to market your home to potential candidates. If you’re planning on purchasing a second home and are putting your own up for rent, you may want to contact one of our local real estate professionals for more information.