March 2016 Your Home Newsletter

Housing Inventory is Low – Making it a Great Time to List!


If you have been considering a move, now is a great time to list.  The existing inventory of houses for sale is lower than historical averages, creating favorable market conditions to sell!


 


According to a recent article on Real Estate Economy Watch, there are several reasons for this low inventory.  Understanding them will help you to understand the current market, and the reasons for listing  now.


 


1.    Many home owners are still underwater.  Although the situation is not as bad as it was during the housing crisis, it is estimated that one in five owners with a mortgage still do not have enough equity to sell.  This situation will gradually improve as prices rise and people pay on their existing mortgages.  But for the time being, it is still a limiting factor in the number of houses for sale.


2.    Many home owners are waiting to sell until they can make a profit.  For people who bought during the peak years prior to the housing crisis, they may still not be able to make a profit by selling, even if they are not underwater.  It could be another five years or so before this comes to pass.


3.    The inventory shortage is limiting people wanting to upgrade.  Price instability and lack of options may be holding people who want to move into a larger house back.  This is an issue that will probably rectify itself soon, but until then, it also impacts the availability of mid and smaller sized homes on the market.


4.    Investors are not ready to sell their single family investment homes.  Investors are making money both with rising rents and house prices. 


5.    New home construction is still low. During the housing crisis, many smaller home builders closed.  And while higher end construction is expected to pick up, modest sized new construction is also needed.


6.    Baby Boomers are staying in place longer.  Baby boomers are working longer and enjoying better health, causing them to hold onto their homes longer.  This condition won’t last forever, but for now it is limiting the number of houses for sale.


 


These conditions have led to a strong demand for single family houses.  If you are considering selling, these factors make it a good time to list now.  Contact me at 859-380-5771 or mikebeckerhomes@fuse.net if you would like an expert opinion on the value of your home.


 


Source: “Where Have All the Sellers Gone?" Real Estate Economy Watch (March 17, 2016)


 


Fun Fact


Around 5PM EST is when the greatest proportion of the world is sleeping.  (55-60%)


 


Source:  www.wtffunfact.com


 

 

Walk on Wood

Hardwood flooring is one of the most sought-after features in new and existing homes. This eco-friendly feature can turn your home into a warm and inviting space to relax and entertain. Selecting the right flooring can be a challenge, however, depending on your design style, budget and personal preference. Before choosing a wood floor for your home, here are a few things to keep in mind, courtesy of the National Wood Flooring Association:

There are two basic types of wood flooring. Solid wood flooring can be sanded and refinished many times and can be used in all rooms, including kitchens and powder rooms. Engineered wood is manufactured with multiple layers of wood veneers, so it expands and contracts less than solid wood flooring when temperatures and humidity fluctuate. Engineered wood is a better alternative for basements and other below-ground living areas.

 

Hardwood floors come in different finishes. Satin gloss offers the most shine and reflects the most light, so scratches and normal wear and tear are less noticeable, while matte finishes offer the least shine.

 

Light woods like ash or maple help make a room appear more open and airy, while darker woods like walnut or mahogany can give a room a more stately and refined appearance.

 

To keep floors looking new, clean them frequently using a dust mop or vacuum. Avoid using a wet mop as water can dull the finish or damage the wood over time. To prevent scratches, place scatter rugs at all entrances and floor protector pads on the bottom of furniture legs.

 

When spills occur, wipe them immediately with a dry or slightly damp cloth. When floors begin to look dull, use a wood flooring cleaner to renew the luster. Use only products that are compatible with your wood floor type. The wrong cleaning product can damage the finish and possibly the wood itself.

 

With these simple tips in mind, hardwood floors can provide comfort and enjoyment for many years.

 

 

It’s Almost Opening Day!

Baseball season is just around the corner!  If you would like a magnet with the Reds’ schedule for this year, email me at mikebeckerhomes@fuse.net .  Go Reds!!!

 

 

 

 

Looking for a Golf Getaway Property?

Look no further!  This reasonably priced Perry Park condo is only an hour (or less) away from Cincinnati, Lexington, and Louisville.  With 3 bedrooms and 2 baths, it sleeps 10 with hide-a-beds.  Fully furnished, it offers a view of a lake, river, and golf course. Enjoy the amenities of Perry Park Golf Course, 2 restaurants, 27 hole golf course and clubhouse! Located near historic Carrolton KY.  $62, 500. Click here for more information, or contact me at 859-380-5771 or mikebeckerhomes@fuse.net


  

Save Me, Super Kitchen!

 

Kitchens have come a long way from linoleum floors and olive-colored appliances that our grandparents had. Today’s kitchens are super-sized and designed for multiple purposes. Sixty-nine percent of owners use their kitchen space for dining, while 49 percent use it for entertaining and 43 percent for socializing, according to a recent survey of homeowners by Houzz. The kitchen has become the hub for family activities, such as doing homework, watching TV and reading. Nearly two-thirds of homeowners spend more than three hours a day in their kitchens.

 

Therefore, today’s homeowners are not skimping on renovations. Nearly one-third of homeowners surveyed spent between $25,000 and $50,000 on kitchen renovations and another third spent more than $50,000.

 

Features that are typically part of living and dining rooms, such as dining tables, chandeliers, TVs and workspaces, are being added to kitchens. Wine refrigerators and built-in coffee stations are popular for entertaining, while custom cabinetry and hardwood floors integrate more seamlessly with the home’s overall design.  As the modern kitchen has continued to evolve, several design trends have emerged:

*    Black and bronze finishes on stainless steel appliances contribute a sleek, modern look.

*    Deep kitchen drawers help organize dishes and pans.

*    Niche appliances, from steam ovens, warming drawers and induction cooktops, add luxury and practicality.

*    Kitchen islands with more workspace and storage, prep sinks and seating are the workhorse of the home.

*    Unexpected combinations of backsplash and countertop finishes can spice up kitchen décor — for example, a brick backsplash with concrete countertops or yellow ceramic tile with butcher block.

    The modern “super kitchen” not only improves flow, storage and aesthetics, it also supports family life with style and substance.

 

 

Proud To Be with Re/Max Affiliates!

As a Realtor© with Re/Max Affiliates, I am able to leverage some great resources for my clients through our corporate office.  This month, I would like to highlight the remax.com website.  Our site received over 52 million hits last year, significantly more than many other prominent real estate brokerages.  Listing your house with me gives you exposure on remax.com and to all the people searching it!

 

 

 

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