How recent financial events could lead to significant savings on your dream home
In the ever-changing world of finance and real estate, sometimes the unexpected can lead to new opportunities. The recent collapse of Silicon Valley Bank and a few other regional banks might seem like bad news, but it could actually present a golden opportunity for potential homebuyers. Let’s delve into the backstory and explore how these events can benefit you.
A Brief Backstory
A few years ago, in 2020 and 2021, banks saw a flood of new deposits as a result of stimulus money and increased savings during the pandemic. To make the most of this influx, banks invested in low-interest treasury bonds and mortgage-backed securities, locking in 1-2% returns for years. Fast forward to today, and the Federal Reserve has significantly raised interest rates, making those previous investments far less attractive. This series of events has contributed to the banks’ downfall.
The Silver Lining for Homebuyers
The collapse of these banks and the subsequent rapid drop in interest rates have led to a decrease in mortgage rates, as they typically align with the 10-year treasury.
Seizing the Opportunity
If you or someone you know has been considering purchasing a home, this recent turn of events could be a once-in-a-lifetime opportunity to save big. Here are a few steps you can take to make the most of these favorable financial conditions:
Get pre-approved for a mortgage: With lower interest rates available, now is the time to secure your mortgage pre-approval to lock in these favorable rates.
Start your home search: Begin exploring potential homes and neighborhoods that fit your criteria. Consider working with a knowledgeable real estate agent who can guide you through the process and help you make the most of this opportunity.
Navigating the Current Market
The recent collapse of banks might seem like a cause for concern, but it has opened up a window of opportunity for homebuyers to secure their dream home at a potentially lower cost. By acting quickly and working with knowledgeable professionals, you can take advantage of this rare chance to save on your mortgage and make your dream of homeownership a reality.
If you have any questions or need assistance navigating these unique market conditions, don’t hesitate to reach out to our team. We’re here to help you every step of the way.
Curb appeal is an important part of selling your home
You can improve your home’s curb appeal without a professional
Contact us to see how improving your home’s curb appeal can help it sell
Despite what the phrase suggests, you don’t actually need to have a curb to improve your home’s “curb appeal.” Curb appeal is the overall exterior allure of your home, and has nothing to do with the concrete edge it’s named after. So, if you’re looking to sell your home in 2023–whether it’s a townhome, condo, or single-family residence–you should be evaluating your home’s curb appeal since it’s the first thing prospective buyers see. If you follow these simple tips and apply them appropriately to your property, you can make a good first impression on local homebuyers before anyone even steps through the front door.
If You Have a Lawn, Manicure It
Manicure may sound like a silly word to use in this instance, but it’s accurate as you’re ultimately tending to your lawn’s cosmetics. Spruce up your lawn before showings by cutting overgrown grass and shrubbery to uniform heights and removing all weeds..
Of course, manicuring also includes getting rid of those patches of dried, brown, dead grass. Reseeding for new growth is optimal, but you can use lawn-safe paint to cover brown spots in a pinch if there’s no time to grow new grass. A real, natural look should be your goal as a clean lawn gives the entire property a more elegant appearance.
Tend to Your Garden Beds
Even if you don’t have a lawn and grass to worry about, you may have garden beds that need tending. Mulch fades and decorative rocks can get lost over time. Fill in any bare spots; replace your current mulch with a fresh, brightly colored option; and remove dead plants as needed.
Even if it’s just a windowsill flowerbed, the extra care and attention can go a long way to sprucing up your home’s curb appeal.
Give Your Door a Pop of Color
The front door is a surprising focal point of your home and can be one of the first things buyers notice. Unless there’s heavy damage to the door, you don’t need to replace it. Simply add a coat or two of paint, using a color that accentuates the scheme of your home. Be mindful of any HOA regulations regarding exterior paint colors as you may have to choose from a specific set of shades.
While you’re painting the door, replace the hardware to match the new color. If your old hardware does match and can be cleaned to look brand new, certainly use it. While you’re replacing the hardware, you might as well swap out any street numbers if you can find a good match.
Upgrade Your Lighting Fixtures
Light fixtures can be a pretty big part of your home’s curb appeal. No matter how many you have, these fixtures should look updated and new. In many cases, you can clean up the ones already installed and maybe even hit them with a can of spray paint. However, it can be necessary to replace them entirely if they’re damaged or beyond repair.
If you aren’t sure if fixtures need to be repaired, don’t tackle the project alone. We can recommend local experts who can tackle any needed updates.
Install Outdoor Path Lighting
Townhomes, condos, or single-family homes typically come with a walkway leading up to your front door. Even if you have a motion sensor flood light, path lighting can really enhance your space, give it a luxurious look, and even improve safety. Path lighting comes in all shapes and sizes, and, for the most part, is solar-powered.
Additional to path lighting, you may consider adding uplighting to illuminate a lone tree, a planter you’re quite proud of, or to showcase the exterior facade of your home. Uplighting really adds a touch of class to any exterior, leaning even further into the lavished home look with minimal effort needed.
Add Simple Accents
A home without anything out front to fill the empty space can seem vacant, cold, and dull. Even if you just add potted plants, a welcome mat, or a seasonal wreath, it can go a long way to give a welcoming look and feel. One thing to consider is symmetry. Potted plants look so much better in pairs when they’re symmetrical.
Try not to crowd your porch or any other area you’re filling in. Just add enough to boost your home’s curb appeal.
Clean It All Up
Everything that can be seen from the road should be scrubbed, swept, wiped down, and cleared out. Gutters, stairs, windows, driveways, porches—try to make things as spotless as possible. A clean-looking home is going to be more attractive to buyers because they’ll know it’s been in good hands all these years. A high level of cleanliness shows you really cared about the space, and will certainly get buyers excited to see the rest of your home.
Put Your New Curb Appeal to Use
If you’re putting in all this work to improve your home’s curb appeal, then it must mean you’re getting ready to sell your home in 2023. Reach out to our team today to start discussing how we can leverage your new curb appeal to build a sales strategy that will attract new homebuyers. Our local sales experts use the latest market data for your neighborhood to ensure you’re getting the best return on your home.
Get your best mortgage rate with a better credit score
When you find a property you love, make an offer
Don’t wait—contact us and start planning your move today!
The spring real estate market looks different for homebuyers in 2023 than in previous years. With recent changes to interest rates, available inventory, home prices, and a lot more, it’s essential to work with your trusted local real estate team to get prepared! The spring real estate market is full of opportunity and potential, making it the ideal time to purchase a home. If you’re looking to buy a home this season, here are some tips on what steps to take during the spring real estate market.
Improve your credit score for a better mortgage rate
The first step in buying a home is getting pre-approved for a mortgage loan. This involves submitting information like credit score and payment history to potential lenders so they can determine whether or not you’re eligible for a loan. In order to get the best mortgage rate possible, it’s important that your credit scores are up-to-date. Improving your credit scores may involve paying off any existing debts or disputing any errors that may be present on your credit report. It may also help to keep your debt-to-income ratio low by avoiding taking on new debts while trying to get pre-approved.
Utilize our online tools to find the right home for you
Technology has made it easier for potential buyers to find their new dream homes without stepping outside their current homes! Our free and easy-to-use tools (such as our advanced property search, instant listing alerts, virtual tours, and mortgage calculators) allow you to view properties from all angles and calculate estimated monthly payments to plan before making an offer. Our tools save you time by giving you an idea of what to expect when viewing a property in person or speaking with lenders about loan options.
Work with the right agent—starting today!
Finding the right professional help is key when it comes to navigating through the homebuying process. Work with our knowledgeable team because we know both the local market and the national trends. We’re here to help make finding your dream home much easier, as well as helping you avoid common pitfalls associated with purchasing property. Finding a reliable lender offering competitive rates will ensure you get the best deal possible on your mortgage loan, so make sure to speak with our team as you start the pre-approval process to get our insights into the best lenders for your goals. Start searching homes for sale now, so you have plenty of time before closing day rolls around!
Pounce on desired properties immediately
Once you find your dream home, don’t hesitate—act quickly! Finding the exact home you’re looking for doesn’t happen every day, so make sure that you take advantage of this opportunity by putting in an offer as soon as possible after viewing it in person or online via virtual tours. Before you contact the home seller, contact our team first! We’ll get you access to the latest neighborhood sold reports and other market data to help you determine the best offer for that dream property. And, our team brings expert negotiation tactics to the table, plus smart advice to avoid common pitfalls like overbidding or offering too little money initially.
Don’t Wait Until Summer—Start Buying Now!
Ready to buy your next home during the spring real estate season? Start by improving your credit score, using our online tools and market data, and building a strategy we can execute quickly when the right home comes up for sale. With these tips, you can maximize your chances of success during this season’s real estate market. So if you’re ready to start looking for your dream home, contact us today to get started!