Signs That Determine Real Estate Market

Many, often wonder, why, it is often, so challenging, to understand, predict, etc, many of the variables, involved, when it comes to the real estate market. Why are prices, so high, or low, or a buyers market, or sellers market? Why do some houses, sell, very quickly, while others, remain, unsold, for a seemingly, long period? What makes pricing fluctuate, etc? With that, and more, in mind, this article will attempt to briefly consider, review, and discuss, 6 factors, which often, determine, how the real estate markets, might perform, etc.

1. Supply and demand: Like so many economic issues and considerations, supply, and demand, often, is a major factor, in the performance of the housing market. When there are more buyers than sellers, we call this, a sellers market. When the scenario is reversed, it’s a buyers market. When there is balance between those seeking to buy, and sell, conditions are neutral. Many factors and considerations, go into, what market conditions, might be, including the overall economy, mortgage rates, tax laws, employment/ jobs, etc.

2. Economic strength/ employment: When potential homeowners feel comfortable and secure, in terms of their employment, presently, and for the foreseeable future, they proceed, with a mindset, which focuses on the possibilities!

3. Consumer confidence: The more, consumers exhibit confidence, in the overall strength and stability of various factors in the economy, and the more convinced, ownership has advantages over renting, etc, the stronger the possibilities for housing and real estate pricing. Relevant factors include: mortgage rate trends; tax considerations; the attractiveness of certain neighborhoods, areas, and homes, etc; and the overall national and international economies, and the balance between positive and negative factors/ trends.

4. Mortgage interest rates: When mortgage interest rates are low, the corresponding monthly carrying charges/ expenses, are reduced, This means one can buy, more house, and be able to afford the costs. When rates are higher, monthly costs rise, and, this is generally, a negative factor, in terms of rising prices!

5. Tax considerations: The tax reform legislation, passed at the end of 2017, places caps, on the amount of real estate taxes, which are deductible. Therefore, homes in states, with higher state and local taxes, are somewhat, at – risk, in terms of maintaining their value, because this, significantly increases the costs of home ownership!

6. Real estate, often, is local: There is a slogan, All real estate is local, which means, every local housing market, is different and variable! Avoid believing, what happens elsewhere, is directly related to your specific region.

An educated homeowner is beware, and prepared! The more one knows, and understands, the better all are served!

 

Place To Look For Minimizing Air Leak

If you wouldn’t purposely, throw money down the toilet, or out the window, why do so many homeowners, take the time and effort, to make their home, more energy – efficient, or, at least, less wasteful? The simplest, easiest, and least costly way, to achieve positive, relevant, realistic objectives, and thus, save money, and increase the level of comfort, within a house, is to locate, and then, minimize, air leaks. With that in mind, this article will attempt to briefly consider, examine, and discuss, 5 relatively simple places to start, and somewhat easy fixes.

1. Windows: Begin your review and examination, where a large amount of air leaks, and often, can be addressed! In many houses, energy, literally, is thrown, out the windows, because, either they are inefficient windows, or ineffectively sealed and installed. In the late 1970’s, President Jimmy Carter, recognized how wasteful this was, and enacted, tax credits, to encourage homeowners, to upgrade to better, more energy – efficient windows. If a house has older windows, it might make sense to address this, and replace them, because the Return on Investment (ROI) make sense, in most cases. In addition, testing, and identifying areas, where there are leaks, should be addressed and corrected.

2. Doors: Leaky doors, are often, the second leading cause of energy wastes! Some doors are made of a material, which makes things worse, but, in many cases, it’s simply a matter of putting an inexpensive, sweep, on the bottom of the door, to stop air from flowing underneath it. Also, it’s wise to check if it’s properly installed and/ or hung, so excessive waste, does not occur, from the sides!

3. Attic/ roof: How well insulated, is your attic, and roof, areas? Adding a better insulation, or, sometimes, putting insulation, where none presently exists, saves a significant amount, at a relatively little cost!

4. Behind outlets: One of the most overlooked areas, where there is significant waste, is behind outlets. This can easily, and inexpensively, be addressed, by putting a simple, strip, which can be purchased at most hardware stores, and there is, potentially, a huge savings!

5. Exterior wall: Check the exterior walls, simply, by putting your hands on these, and feeling, temperature changes, and whether the walls, feel cold, in winter, and warm, in summer. Installing insulation behind these, helps, quite a bit!

A wise homeowner, is a proactive one! Pay attention to ways, you might, inexpensively, make certain tweaks and changes, which will save money and energy!

 

Guide Before Having A Home

Many consider, owning a home, of one’s own, to be a main element, in the so – called, American Dream. However, while, certainly, being a homeowner, is, for most, a desirable course and path, it is important, for potential homeowners, to proceed, with their eyes, wide – open, in order to be certain, they are ready for, and prepared, to OWN a house. Relevant considerations, often include, factors such as: financial ability; personal needs and priorities; specific area; local neighborhood; school system; convenience to transportation; safety – related issues; religious considerations (such as convenience to their desired, house of worship); shopping conveniences, etc. With that in mind, this article will attempt to briefly consider, examine, review, and discuss, using the mnemonic approach, some of the factors, one should evaluate, before assuming, both the benefits, and responsibilities, of home ownership.

1. Options; opportunities; orderly process: One must make the personal decision, when owning is for them, or if, they would be, more comfortable, renting. There are options, to consider, such as one’s personal comfort zone, whether they are comfortable taking – on, the associated responsibilities, financial, and one’s personal comfort zone, etc. Is having their own place, focused on the best personal opportunities, but, more dream, than need? There is a necessary, orderly process, involved, with the responsibility, and, thus, each individual must/ should, consider, whether they are ready, willing, and/ or able, to do, what’s best, for them!

2. Where; why; when: When is the right time, to buy a house? While this is an individual decision, the smartest approach, is to balance financial/ fiscal abilities, including tax considerations, etc, with the preparedness, to assume the necessities! Why do you want to purchase a specific property, as opposed to another? Is it needs – oriented, affordable, and will you be happy, living there? Where would you want to reside? Will you take fully into consideration, your family needs, goals, priorities, finances, and personal comfort zone?

3. Needs; nuances; neighbors: What is best, for your personal needs, goals, and future considerations? Each of us, have specific needs, and orientations, and, thus, a future homeowner, should look at the specific niche, and nuances, needed and necessary. Look around the neighborhood, and speak to the neighbors, to ensure it’s somewhere, you’d like to live.

Are you ready, and fully prepared, to OWN a home, of your own? Will you take the time, to, introspectively, objectively, give yourself, a check – up, from the neck – up?

 

Perfect Time To Maintenance Your Home

Home ownership, is, both, a right, and an obligation! A smart homeowner considers how, to effectively, maintain, his house, in the best, most effective way, to minimize costs, hassles, and keep the home, well – maintained! Rather than waiting for obstacles and challenges, to become problems, the wise ones, realize and recognize, it’s a good idea, to do, regular maintenance, on a seasonal basis. After over a decade as a Real Estate Licensed Salesperson, in the State of New York, I have attempted to simplify this process, and refer to, this approach, as the 4 Seasons, of Home Maintenance.

1. Spring: Nearly everyone has heard of Spring Cleaning, and wise owners, approach this season, as an opportunity, to address, issues, which were brought on, by winter’s weather. For example, in colder climates, houses undergo certain stresses, during winter. Front hallways, often suffer, because of the dirt, brought into the house, by bringing in the elements, such as snow, salt, etc. In addition, they clear leaves, address plantings, repair cracks on paved paths, driveways, and exterior foundation, as well as examining, whether the weight of snow and ice, have created challenges, with the gutters. Also, now that weather has warmed, it is wise, to seed lawns, and take care of all the little things, you needed warmer weather, to do!

2. Summer: Towards the end of Spring, and during the Summer, and early Fall, take care of landscaping. Do as much exterior/ outside work, when the opportunity arises, and, do so, proactively, before minor issues, become major expenses.

3. Fall: As trees begin to lose their leaves, clear them from lawns, paths, drains, gutters, etc, so as to be prepared, for more extreme weather conditions! Towards the end of the season, drain, and turn – off, exterior water sources, in – ground sprinklers, etc. Have a pre – winter, heating system, preventive maintenance, to ensure fewer heating problems, when you most need to heat, your house.

4. Winter: Thoroughly perform snow removal, and clear away, paths, pipes, etc, to ensure fewer issues and challenges. Avoid using harmful chemicals, when melting ice, etc, and there are many safe products, on the market, today. Using certain chemicals, often cracks cement, etc. Remove hanging icicles, in order to reduce the stresses and strains on your roof, and gutters. Make certain, early in the season, to minimize wasting energy, by using a setback thermostat, and doing minor efficiencies, such as door sweeps, caulking windows, insulating behind sockets, etc.

It’s wise to have a home maintenance plan. Addressing these simple steps, generally saves a lot of hassle, and money!