November 2024 Real Estate Newsletter
Get Your Home Ready To Smell SELL
When it comes to selling your home, first impressions are everything. Potential buyers experience your home with all their senses, especially their sense of smell. A subtle scent can evoke feelings of comfort and familiarity that make them feel at home from the moment they walk through the door. Here are some ways to use the power of scent to create an inviting atmosphere that speaks to the senses and leaves a lasting impression.
Start by eliminating unpleasant odors. If you have pets, keep their bedding fresh by washing it regularly. To deodorize furniture and carpets, lightly sprinkle baking soda, let it sit for 15 minutes, then vacuum it up. Use a natural, all-purpose cleaner on hard surfaces to remove lingering smells. Freshen up the garbage disposal by cutting a lemon or lime and running the slices through the disposal. This will also help clean and deodorize the drain, leaving behind a sweet citrus scent.
Once you've cleared the air, bring in subtle aromas that set the right mood. Scents can have a powerful effect on emotion. They have the ability to create an environment that encourages buyers to linger and envision themselves living in the space. Opt for light, natural scents like vanilla or cinnamon, which evoke feelings of comfort. If you prefer a fresher scent, citrus fruits like lemon make a crisp, clean impression, giving your home an inviting and well-kept feel. For a subtle floral edge, consider lavender to craft a calming atmosphere that helps everyone feel relaxed and at ease.
A well-chosen subtle scent can do more than fill the air — it can help seal the deal and make your home feel like the perfect place to settle in.
DIY Natural All-Purpose Cleaner
For a natural way to keep your home smelling fresh and clean, try this simple DIY all-purpose cleaner. You can even customize it with essential oils to complement your overall scent strategy.
- 1 cup water
- 1 cup white vinegar
- 10 drops essential oil (such as lemon or lavender)
Mix all ingredients in a spray bottle and shake well. Perfect for wiping down counters, cleaning sinks and eliminating odors naturally.
First Steps to a Second Home
Are you dreaming of owning a cozy cabin in the mountains or a breezy beachfront bungalow? Understanding your options for financing a vacation home is a good place to start.
- A conventional mortgage loan is a common choice if assets are limited and you prefer not to use equity from your primary residence.
- Making a full cash payment upfront allows for a mortgage-free purchase, while a partial cash payment reduces the amount financed.
- A home equity line of credit (HELOC) uses the equity in your primary residence to open a revolving line of credit for your second home.
- Unlike a HELOC, a home equity loan offers a fixed interest rate and a lump sum payout, with repayment in monthly installments.
- Refinancing the primary mortgage for more than the remaining principal amount is called a cash-out refinance, allowing you to apply the extra cash to a second home.
Opportunity's Knocking: Are Better Days Ahead?
As we look ahead to 2025, the real estate market is showing signs of a turnaround. Recent data suggests new opportunities are beginning to emerge. With indicators pointing toward a more stable environment, what factors are driving this change?
Mortgage Rates
After a period of fluctuation, mortgage rates are expected to stabilize. This steadier financial footing should help boost confidence in real estate transactions. Eager buyers who've felt priced out of the market may see the potential savings on monthly payments as motivation to start house-hunting.
Increasing Inventory
With the stabilization of mortgage rates, homeowners who've felt locked into their current rate may be more willing to make a move. At the same time, while the resale housing shortage persists, recent months have shown an increase in inventory, giving those looking to sell more confidence in their options when it comes to finding another home. Additionally, new construction will play a part in rising inventory numbers with single-family housing starts expected to increase.
Now may be the time to explore the evolving market. A trusted real estate agent can help you navigate the changes expected to come in 2025.
Home Sales by the Season
What To Expect When Selling a House in the Winter
When the winter months begin, the housing market tends to cool down — but not as much as you might think. Properties sold during winter can still command competitive prices, as the reduced inventory creates less competition. Nationwide, fewer homes are typically listed during the winter, but buyers in the market are often more motivated.
National projections from industry leaders offer key insights on how the season can affect market trends, revealing a slightly slower pace but steady demand from serious buyers.
- Sales Period: December, January and February
- Existing Homes: About 11,000 sold per day (compared to a springtime high of 16,500)
- New Homes: 1,640 sold per day (compared to a springtime high of 2,000)
- Median Days on Market: 49 (compared to a springtime high of 33)
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