T. Jay Johnson Jr. - Lamacchia Realty, Inc.



Posted by T. Jay Johnson Jr. on 1/17/2020

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 Photo by Gerd Altmann via Pixabay

As 2019 draws to a close, people aren't just turning the page on a new year but also a new decade. With a new decade comes new trends in the real estate industry. The 2010s were a time of drastic shifts in the real estate market. This new decade is sure to be more of the same. As a result, there are a few trends for 2020 that everyone should note.

What the Current Generation Desires

While there are people of all ages looking for houses, the majority of people currently looking for homes are members of the millennial generation. Many of these individuals and families are buying a home for the first time. Many members of this generation are looking for something specific in their home. This might be a laundry room, patio, or additional space in the garage. This also means that many people looking for homes care more about these features than they do about the overall size of the home.

Home Prices are Rising Slowly

When the real estate market crashed about ten years ago, many people were concerned. Fortunately, home prices have rebounded since then and the market has stabilized. For now, home prices are continuing to rise; however, they are rising slowly. This means that those who are looking to establish equity in their current home will continue to do so. This also means that anyone who is looking to buy a home might be able to find the house that is right for them at a discounted rate.

Mortgage Rates Remain Low

In addition, mortgage rates are remaining low as well. Mortgage rates bottomed out a few years ago and haven't changed significantly since then. This has led to a boom in the number of people looking to buy a home, providing advantages for both buyers and sellers. Some people thought that with the rapid rise in the number of people buying homes, mortgage rates would start to climb. This hasn't been the case. This is another reason why many people looking to buy a home should try to act quickly. Mortgage rates cannot go much lower.

More Work is Done Online

With more millennials looking to buy a home than ever before, it should come as no surprise that more of the work is shifting to the internet. More people than ever before are looking at listings online. As a result, anyone looking to sell a home should make sure the information on their online listing is accurate. Furthermore, people looking to purchase a home should also check out the internet listings. Of course, make sure to verify that anything posted online is accurate before acting on it!




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Posted by T. Jay Johnson Jr. on 1/10/2020

Finding a deal on a new home sometimes can be difficult. Fortunately, we're here to help you shop for your dream residence so you can discover a house that matches your budget perfectly.

Now, let's take a look at three tips to ensure you can pay the lowest-possible price for your dream residence.

1. Be Aggressive During Your Home Search

Much in the same way that the early bird catches the worm, a homebuyer who tracks the real estate market closely is better equipped than others to discover a deal. If a buyer monitors the housing market in his or her preferred cities and towns, this individual may be able to pounce at the opportunity to acquire a quality house at an affordable price.

Oftentimes, it helps to make a list of homebuying criteria. This list will help you narrow your home search and eliminate houses that fall outside your price range.

You also may want to get pre-approved for a mortgage. With a mortgage in hand, you'll know precisely how much you can spend on a home and may be able to navigate the homebuying journey more quickly than other buyers.

2. Evaluate a Home's Strengths and Weaknesses

Once you discover your dream house, you likely won't want to wait long to submit a competitive offer to purchase. Because the longer you wait, the more likely it becomes that a rival homebuyer could make a move to acquire this residence.

If you find a home that you may want to purchase, analyze its strengths and weaknesses. This will allow you to determine whether the residence is right for you. And if you believe this house is the ideal choice, you can weigh the residence's strengths and weaknesses as you craft an offer to purchase.

Furthermore, there is no need to submit a "lowball" offer to purchase your ideal residence. If you review a home's condition, the current state of the housing market and other real estate factors, you should no trouble submitting a "fair" offer to purchase.

3. Collaborate with a Real Estate Agent

A real estate agent is committed to helping a homebuyer discover a terrific home that corresponds to his or her budget. As such, a real estate agent will collaborate with a buyer and ensure this individual's homeownership dream can come true.

Typically, a real estate agent and a homebuyer will work together to develop a property buying strategy. When this plan is in place, a real estate agent and a buyer will explore the housing market and find a great home at a price that suits the buyer.

A real estate agent is ready to provide comprehensive guidance for homebuyers too. And if a buyer ever has questions during the property buying cycle, a real estate agent is ready to respond to these queries at any time.

Want to pay a low price for your dream house? Use the aforementioned tips, and you can seamlessly navigate the real estate market and find a top-notch and budget-friendly house.




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Posted by T. Jay Johnson Jr. on 1/3/2020

Photo by Andrey_Popov via Shutterstock

An HOA — or Homeowners' Association — is an organization in your subdivision or community that creates and enforces regulations and rules for the properties and residents. If a property is part of an HOA's jurisdiction, buying it automatically makes you a member. Therefore, you are required to pay HOA dues that cover the organization's costs and services. The strictness of HOA rules can vary significantly from community to community, and while some are very restrictive, others allow a wide range of changes to your property. It's essential to check in to what an HOA requires, costs and offers in a particular community or neighborhood before purchasing a home. Contrary to fictional portrayals, an HOA can be really beneficial to the homeowners by providing deals on local services and generally keeping the home values constant or increasing by keeping the neighborhood the same.

Collective Bargaining

In a lot of ways, you can think of an HOA like a homeowner's union. It gives you that collective bargaining power with larger agencies like utilities, city services and local governments. This power can save you a lot of money by getting members better deals on trash services or electricity, including landscaping with HOA dues and more. It's a well-known rule that the more you buy, the better prices you get. That means when a group of 50 homes is negotiating for a landscaping deal, they can get much better prices than if it's just one home. Don't feel like you're cheating the other business owners either. They offer lower prices because doing a bunch of things in one area lowers their overhead, and having a consistent client increases their overall profits.

Maintaining Home Values

The main job of any homeowners' association is to maintain property values. They do this not by restricting what you can do but by limiting what your neighbors can do. And yes, since you are a neighbor as well, you are also subject to the same neighbor restrictions. That means you typically can do whatever you want inside your home since that only affects you. However, you can only do things within a specific range to the outside of your home since that affects your neighbor's houses as well. The look of a neighborhood, especially neighboring homes, can significantly affect the value of a home and usually are outside the purview of the homeowner. HOAs seek to fix this by requiring that everyone keep their home up to the same standards and avoid practices that will devalue the neighborhood.

It's essential to understand the benefits and restrictions of living with an HOA, especially if you've never had one before. Your professional real estate agent will be familiar with or be able to get, the bylaws of any HOA that covers a home you are considering. Sit down and go over them together to ensure that those rules work with your preferred lifestyle.




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Posted by T. Jay Johnson Jr. on 12/27/2019

Photo by Schluesseldienst via Pixabay

Selling? Ready to wow potential buyers with some high-impact touch-ups? Here are some top ideas to mesmerize home buyers—without spending a fortune on renovations. 

Dazzle Them at the Doorstep

Many of today's home sales, and certainly most fast transactions, begin with online browsing. First, snap a photo of your home. Take it from the perspective of someone walking up to the front door. Is the walkway weeded? Is the welcome mat spiffy? Is the patio tidy? Think about the irresistible qualities of your home, as you first saw them. Are those charming elements as visible today? Lay fresh mulch on the front garden to touch up the landscaping. A coat of paint for the door, window frames, and decorative shutters is well worth the time invested. Just one sunny day's work...et voilà!

Now, to clean the windows. Are they perfectly clear and inviting? Peek in. Is the interior clutter-free, sparkling clean, and charming? Well done! You're ready to start your virtual home tour on your social media accounts!

Uplift the Interior Mood

Look for spots where you can lighten up the interior look. White paint over dark panels, doors, or cabinets can make a world of mood-lifting difference.

If possible, remove the furniture, except for your staging pieces, before having the photography done. Make the essence of your home bright and joyful. Consider, for instance, that essential oils can be exceptional mood enhancers. Research has confirmed lavender's "anti-agitation and antidepressant" effects.

Make this knowledge work for you. Drop a little lavender oil on your AC filter, or on the cardboard roll inside toilet tissue, for diffusion that keeps spreading a calm feeling throughout your home. (You can share the tip with the new homeowner at closing!)

Try Speed Renovating 

Here again, start by taking pictures inside. Find your best touch-up targets. 

For example:

  • Pick out some simple brass outlet covers to replace your old ones.
  • For a mini-makeover in the kitchen, install a sleek, new faucet. It's a relatively small project. But it can be transformative.
  • Grab some attractive peel-and-stick tiles. Make a backsplash to frame your stove or sink.

Now, throw those curtains open! Open those blinds and windows. Bright, sunny interiors sell homes. 

Ready to Sell Your Home?

Great!

You've cleared out everything. The baseboards are painted. Your kitchen is ready with its glistening—and empty—countertops.Be sure the lock and key work nicely. (You might be surprised, but homes get passed over because the agent can't get the key to work.) Now, you're ready to open your home, and I'm ready to help you. Just give me a call, and let's get that SOLD sign ready!




Tags: DIY   Home Sale   Homeseller  
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Posted by T. Jay Johnson Jr. on 12/20/2019

There are many reasons that you might consider selling your home during the holiday season. There’s one thing that holds true about both buying and selling during the holiday season- people are motivated. With the stress of the holidays, many people shy away from real estate. The serious buyers and sellers are in the thick of the market this time of year. 


Sell Faster


Many people assume that the spring and summer are the best times of year to buy and sell a home. As a seller, your home may go off the market faster during the holiday season. While many people are planning on making a home purchase during the warmer months, there are plenty of serious buyers out there in the cold. There are a few reasons for this. If your home is for sale during the holiday season, you may be in a great position to sell your home at a good price.


Less Competition


As a seller, you’re in a good position during the winter months because there is less inventory for buyers to look at. If buyers are motivated, your home has a better chance of standing out. You’re not in competition with many other sellers to entice buyers. 


Buyers Are Motivated


The buyers who are out looking for homes over the holiday season are those who have a need. Whether these buyers have been looking for awhile and want a new home in the new year, or are facing a job change, they want to close on a house ASAP. The best thing you can do as a seller is to stay flexible so that buyers have easy access to home showings. 


Your Home Is Already Clean


If you’re selling your home over the holidays, it’s probably already clean. As you expect family and friends to pop in and out of your home, it will be tidy. The other guests who are touring your home to potentially buy it will also see that your home looks fantastic. A neat home is an additional way to attract buyers because they can more easily see themselves living in the house. Holiday decor will only enhance your home’s appearance.    


It’s Easier To Work With Agents


Since the holiday season is a less busy time in real estate, REALTORS® have more time to devote to each sale they do have this time of year. Working with an agent is the best way to get a good return on your home. An agent can help you to price your home appropriately and market it to the right buyers. It’s always best to go with a professional when it comes to selling your home.              




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