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Kids’ Influence on Home Buying

When buying a home, the opinion of children matter. If you also add what the parents think the kids want and need, and include those variables into the home-buying decision, it would be even higher – probably close to 100%. Centrally-located homes with big yards and pools tend to benefit:

When it comes to purchasing a new home, 55 percent of U.S. homeowners with a child under the age of 18 at the time of home purchase say the opinion of their child was a factor in their home buying decision. This is according to a new Harris Poll survey commissioned by SunTrust Mortgage, a division of SunTrust Banks, Inc. (NYSE: STI). For millennial parents between the ages of 18 and 36, the influence of children is even higher at 74 percent.

What are children lobbying for in a home? Top requests include their own bedrooms (57 percent); large backyards (34 percent); proximity to parks/activities (25 percent), schools (24 percent), friends (24 percent); and swimming pools (21 percent).

“As a parent of two kids, I know from experience that including children in the home buying process is not only fun for the whole family, but also educational for our homebuyers of tomorrow,” said Todd Chamberlain, head of Mortgage Banking at SunTrust.

Link to Article

Posted by Jim the Realtor on Jun 13, 2018 in Jim's Take on the Market, Market Conditions, Tips, Advice & Links | 1 comment

Create a Floor Plan

Magicplan is a mobile app that lets you create a floor plan of a home. I tried it, and it works pretty well:

Posted by Jim the Realtor on Jun 2, 2018 in Jim's Take on the Market, Tips, Advice & Links | 0 comments

View In My Room 3D

With View in My Room 3D, iPhone and iPad users can now preview over 300,000 furniture and decor products within their own homes, before they buy.

Posted by Jim the Realtor on May 31, 2018 in Jim's Take on the Market, Tips, Advice & Links | 1 comment

Lowball Offers

It is virtually impossible for lowball offers to succeed in the first week or two – the fresh listings get too many showings in the beginning, and sellers and listing agents are optimistic. Wait at least a month before attempting a lower offer, and don’t be surprised if you get kicked to the curb.

From realtor.com:

Real estate pros warn against extremely lowball offers (typically more than 15% below listing price) because you might offend the sellers—even if the home’s been on the market for months. Strategize with your agent to determine both how far under listing price you’re comfortable going, and what you think the sellers might respond to.

Not sure where to start? These five signs will help you determine when the time is right for a low offer.

Posted by Jim the Realtor on May 31, 2018 in Jim's Take on the Market, Tips, Advice & Links | 2 comments

Buy a House With An X?

This is why electronic signatures are binding. Thanks daytrip!

Does it matter what you sign on contracts? Could you draw a picture or put an X and have it still be legally binding?

With so many facets of modern life being automated, signatures being easy to forge, and given how difficult it is to prove based on signature alone whether a given person actually signed something, using a person’s exact signature “design” for verification purposes after the fact is going the way of the Dodo.

This leads us to the question of the day – given all this, is there any rule about what exactly your signature has to look like? Can you, for example, just sign all your legal documents with a big X like they do in cartoons?

As it turns out, just like it’s possible to cash those big novelty checks because there’s no rule about what a check has to look like or be made of (just what information needs to be included), you can, in many regions of the world, sign a document in any way you wish. This is because a signature from a legal standpoint is just proof that you considered and accepted something. Or to quote the U.S.’ Uniform Commercial Code §3-401(b):

A signature may be made (i) manually or by means of a device or machine, and (ii) by the use of any name, including a trade or assumed name, or by a word, mark, or symbol executed or adopted by a person with present intention to authenticate a writing.

In other words, even if you sign a document in the U.S. and many other parts of the world with a drawing, you’re still legally bound by the terms of that document because it’s the act of signing a document that matters, not the signature itself.

Posted by Jim the Realtor on May 1, 2018 in Jim's Take on the Market, Tips, Advice & Links | 2 comments

What Do Higher Mortgage Rates Mean?

Sellers will be reluctant to lower their prices just because rates went up, so what do higher rates mean for home buyers?

Let’s take a minute and a half and logically review the actual differences in payments when rates go higher:

Posted by Jim the Realtor on Apr 29, 2018 in Bubbleinfo TV, Interest Rates/Loan Limits, Thinking of Buying?, Tips, Advice & Links | 1 comment

More on Home Staging

From Realtor Magazine:

Real estate shopping requires a buyer’s imagination. As a real estate professional, you want open-house guests to be able to picture the household as if they’ve already moved into the property. That’s why staging can make all the difference in the world, especially for an empty house, says Desare Kohn-Laski, broker-owner of Skye Louis Realty in Coconut Creek, Fla.

If you’re having a tough time convincing sellers that staging a vacant home is worth it, here are four compelling reasons that Kohn-Laski shares with her clients.

Staging plants the idea that a home could be theirs. Buyers will make a good offer at first sight if the mood of a property says, “This could be your next home.” Whether it’s a townhome, condo, or single-family property, Kohn-Laski says it’s worth it to present a home in the best, most inviting light possible.
Staging puts room dimensions into perspective. This point is important for both listing photos and for showings. “Without anything in it, a buyer will be clueless in differentiating the size of a room even if you give its area measurement,” Kohn-Laski says. “But with some furnishings in it, there will be reference points to at least give them an estimate that this room is actually larger than the other one.”
Staging emphasizes the positive aspects of a home. Imperfections in walls, floor bumps, missing details in built-in cabinets, and small closets tend to get more attention when there’s nothing else to look at in a vacant home. It’s tougher for buyers to imagine the view from the couch, the dinners at the dining room table, or the cookouts on the back deck.
Staging curbs negative presumptions. According to seller’s agents, Kohn-Laski says, an empty house typically gives an idea of financial crisis, divorce, and personal problems. Staging dissuades negative assumptions about the sellers, she adds.

Link to Article Bob Vila 10 Staging Tips

My thoughts:

Staging a home with attractive furniture and artwork helps buyers envision the possibilities, and give a boost to the online photos, which stimulates more interest. It’s one of the best things to ever happen to home sales:

Staging enables resale homes to imitate the model-home look.
For buyers who wanted new, a staged resale home might be close enough.
A staged home compares more favorably to a non-staged home, and can compete with new homes.
HGTV shows have trained buyers to expect staging.

For those who want to ensure a good first impression, staging is an ideal option.

Posted by Jim the Realtor on Apr 26, 2018 in Jim's Take on the Market, Staging, Tips, Advice & Links, Why You Should List With Jim | 1 comment

Painting Tips 2018

I agree – red for the front door only:

Posted by Jim the Realtor on Apr 22, 2018 in Jim's Take on the Market, Tips, Advice & Links | 6 comments

No House is Perfect

Is road noise so bad? Other things could be worse:

Posted by Jim the Realtor on Apr 8, 2018 in Bubbleinfo TV, Carmel Valley, Jim's Take on the Market, Tips, Advice & Links | 0 comments

Trendy Tuesday – Pantry Renovation

I don’t know where the last three months have gone, but it is now April which means time for some SPRING CLEANING! There are a few places in a home that always seem to get cluttered and messy. Each week during the month of April, I will talk about how to better organize your space so it not only looks nice but it will be easier to find things!

Some people might have an actual pantry, which is a small room next to the kitchen to store food/sauces/etc. Others might have extra cabinets and shelving, which then becomes their official “pantry.” Here are some ideas that can make sure your pantry doesn’t a hodge-podge of ‘stuff’:

Use clear air-tight containers – I swear this will solve half your problems. Best part about this is you can get them anywhere – Container Store, Bed Bath & Beyond, literally wherever. This will help your pantry look so clean and crisp rather than having a bunch of bags and boxes of stuff everywhere. Since they’re air-tight, your food will last so much longer – WIN WIN!

Door storage – This is great for “on the go” snacks or anything you would like to have easy access to! I’ve seen people use these for spices as well. If you would like to use this trick, I would recommend putting only light items in the racks so the door won’t be heavy/hard to open.

Clear bins or baskets- This is pretty similar to #1. If you don’t want to take food out of the original box/bag you can store them in an open container! You could also try to group them into categories like a bin for baking, grains, tea bags, etc! And if you want to be EXTRA organized, use a label maker so things are easier to find!

My best friend from college works at Facebook HQ and check out all their snacks in baskets/bins!

4. Use a cart – Bar carts have become extremely popular within the last few years – especially for those young millennials! They can also be used to store plates, bowls, mugs, whatever your heart desires! This idea is great for people who have a smaller kitchen and need more shelving.

5. Pegboards – I LOVE this idea! Pegboards would mostly be used for a man’s tools – well the times have changed and now people are using them in kitchens! This would be perfect for pots and pans rather than reaching far back into a cabinet or drawer. If can also free up some counter space. Check out our Pinterest page to see more photos of people using pegboards!

https://www.pinterest.com/klingerealty/kitchen-pegboards/