Tuesday, February 6, 2018

8 Ways to Love Your Small Space More

Discover bedroom design ideasDiscover bedroom design ideasA+B KASHA Designs
When we run stories on living in homes with petite proportions, you often tell us, "Small? You should see my house!" Because we aim to please, we've rounded up some of the tiniest rooms on Houzz, picking those that pack plenty of ideas and function into a small space. We think that these are indisputably compact. But, more important, do you?
Pack it in. This bedroom may be minute, but it is perfectly formed. Rather than conventionally putting the headboard on the back wall, the owners found just enough space to turn it so that the side of the bed runs along the back wall.
This could look cramped and messy but instead looks airy and designed. Here's why.
  • Crumpled bed linen allows the bed not to be made perfectly (which can be a pain when a bed is surrounded on three sides) but still looks clean, stylish and, especially, cozy and inviting.
  • Deep storage drawers beneath the bed take the place of bulky furniture elsewhere.
  • An almost one-color palette - the drawers are the same pale color as the bed and walls, and the floor is pale too - banishes harsh boundary lines and visually expands the space.
  • A wall light is nearly always the best solution for teeny spaces, since it frees up surface area that might otherwise house a table lamp.
The high shelf enhances the feeling that the room is bigger than it is, especially since its use is decorative and not functional. Why? If a room appears to have space to use shelves purely for display, it simply feels as though it must have the space to do so - a little brain trick! Choose light or transparent objects, which won't visually fill up the room, or get designer-y if you're so inclined and display paperbacks with their spines facing inward to add texture, but not color.
Scale your furniture. This wee living room, which flows into a small dining space, shown in the foreground, has lots of smart tips to pick up.
Furniture is scaled down, so as to give the room the impression of being bigger than it is and to avoid overcrowding. Take the spool coffee table: Not only is it low and compact, but it's also circular, often a wise shape in small spaces since curves can intrude less into a space than corners.
The side table next to the petite sofa and the armchair are interesting choices too, as each is designed to let light through them, meaning they don't block space and light.
Incorporating up-and-over storage, which makes use of otherwise unused areas above a door frame and high-up wall space, is an absolute winner of a way to pack more into a little space without making it feel cramped.
Divide and conquer. Picture, for a moment, walking into this studio apartment before that shelving unit had been built and before the glass screen went up. You'd risk feeling as if you'd arrived home and straight into the dining table. Subtle and interesting divisions of space — especially those that don't close it off, as shown here - are your friends.
Highlight cuteness. This teeny sink could get swallowed by a vanity, but with the hairpin legs, its petite proportions are really highlighted. The legs also make it look more elegant and important. As already discussed, something may be small, but if you make it really special, no one will be thinking about whether it's big enough. Instead, they'll just be admiring it, as hopefully you will also do daily. Distraction as a tool should not be underestimated!
Another great idea here is to have wall-mounted faucets when you have to have a smaller-than-average sink — the last thing you want is deck-mounted ones impinging on the little space you have. Act out washing your face exuberantly before you buy -- if none of the water has a chance of going back into the sink, think again. Or design a wet room around it where it won't matter.
Go custom. This little home office is clever on several fronts. First off, rather than feeling thwarted by that low, skinny window, the owners simply worked around it. The desk cuts through it, but by painting the desktop and the window frame the same color, the two features work with rather than against each other.
Investing in custom design for a space that needs to be functional is also a good tip to take from here: Just look at how much storage has been packed in and at how deep the desk is. It looks so obvious when you see it now, but the secret of good design is that it's so often deceptively simple.
Lie low. This rooftop garden plays with proportions. Opting for furniture that's low to the floor gives an impression of more head height. It's a trick that works more obviously in rooms with low ceilings, but you can see how effective it is at also making this area feel like a welcoming lounging spot.
Another tip to take away is not to scrimp on planting. You may think that crowding the space with greenery will shrink it. In fact, doing so is likely to make you feel as though you're in a lush, extravagant secret garden. But do choose plants that are easy to prune and handle, and that have soft foliage you can brush past without ducking, diving and contorting.
Ignore convention. No space for that statement slipper or roll-top tub? Are you sure? Of course, having wall space on both sides would be more conventional, as would generally putting a fancy bath in a more generously sized room, but a small bathroom hasn't stopped these homeowners from going big on their bathing spot. And what better way to make the most of a lush view like that?
Build your own sofas. When you can't find the right sofa for a very small living room, consider copying this idea. The homeowner had her own bench seating built around the room, and beneath the cushions, she's bagged loads of extra storage to boot.
Ensure that you design benches to be deep enough for slouchy TV-watching comfort, and invest in good-quality, thick cushions, which you can get made at a foam-cutting shop. This is furniture you'll spend a lot of time on, so before you go ahead, make it your mission to seek out and try out every bench seat in your area - in cafes, friends' homes, shops - so you can figure out what you do and don't like.


Source: Realty Times | Kate Burt, Houzz 020118

Monday, February 5, 2018

Whether You Rent Or Buy, Either Way You’re Paying A Mortgage!

Whether You Rent or Buy, Either Way You’re Paying a Mortgage!
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:
“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”
Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage as opposed to paying rent:
“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”
As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.
Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.22% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.


Source: Keeping Current Matters | The KCM Crew 020518

Thursday, February 1, 2018

Bidding Wars Abound… How Long Will They Continue?


Bidding Wars Abound… How Long Will They Continue?
Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase.
In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season is just around the corner.
CoreLogic recently conducted an analysis on national home prices at the time of sale for their January 2018 MarketPulse Report and found that a third of homes sold for at least list price.
“The share selling above list price was almost three times the trough in January 2008 and represented more than one-fifth of total sales.”
Many markets in the western part of the country and around major cities are experiencing higher shares of homes selling above list price.
“San Francisco had the largest share of homes—76 percent—that sold for at least the list price, and Seattle and Los Angeles followed with 63 and 51 percent, respectively. Miami had the lowest share—16 percent—of homes selling at or above the list price.”
Increased demand during the spring and summer months, the traditionally busier seasons for real estate, will no doubt influence how many homes continue to sell over list price.
This should not be seen by sellers as permission to overprice their homes, though. Buyers are becoming more and more educated, especially those who have been searching for their dream homes for a while now while waiting for new inventory to come to market.
Realtor.com gives this advice:
“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

Bottom Line

Without a large wave of new listings coming to market, buyers will continue competing with each other for the homes that are available. If you are thinking of selling your home, now may be the time to do so before more competition comes this spring. Contact a local real estate professional who can help you determine the demand for your house in your area.


Source: Keeping Current Matters | The KCM Crew 020118

Wednesday, January 31, 2018

2 Major Myths Holding Back Home Buyers


2 Major Myths Holding Back Home Buyers
Urban Institute recently released a report entitled, “Barriers to Accessing Homeownership,” which revealed that eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.”

Myth #1: “I Need a 20% Down Payment”

Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report:
Consumers are often unaware of the option to take out low-down-payment mortgages. Only 19% of consumers believe lenders would make loans with a down payment of 5% or less… While 15% believe lenders require a 20% down payment, and 30% believe lenders expect a 20% down payment.”
These numbers do not differ much between non-owners and homeowners; 39% of non-owners believe they need more than 20% for a down payment and 30% of homeowners believe they need more than 20% for a down payment.
While many believe that they need at least 20% down to buy their dream home, they do not realize that programs are available that allow them to put down as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined with programs that have emerged allowing less cash out of pocket.

Myth #2: “I Need a 780 FICO® Score or Higher to Buy”

Similar to the down payment, many either don’t know or are misinformed about what FICO® score is necessary to qualify.
Many Americans believe a ‘good’ credit score is 780 or higher.
To help debunk this myth, let’s take a look at Ellie Mae’s latest Origination Insight Report, which focuses on recently closed (approved) loans.
2 Major Myths Holding Back Home Buyers | Keeping Current Matters
As you can see in the chart above, 53.5% of approved mortgages had a credit score of 600-749.

Bottom Line

Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.

Source: Keeping Current Matters | The KCM Crew 013018

Monday, January 29, 2018

5 Secrets to Selling Your Home Faster

Sell your home faster with these tips!
Are you looking to sell your house quickly and for a for a great price? Many homeowners find it challenging to get their homes out of the market. This may be because you have a lot of competition in your area, have an older property or buyers are having difficulty securing an affordable mortgage.

Amy Pritchett, a commercial and residential real estate expert from London Office Space, offers five secrets to selling your home faster. These tips will help you sell your home fast. There is no reason to wait months or even a year to sell your house!
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1. Get property valuations from different appraisers

Find out what your house is actually worth by having multiple professionals look at your home. Having your house properly valued and knowing what it is worth in the current market will affect the chances of it being sold.

With multiple valuations from different appraisers you will be able to gauge the most accurate and reasonable price to place your home. They will take into factors like the state of your property, value of properties nearby and current market conditions.

2. A staged home will sell faster

According to UpNest.com, 90% of buyers use the internet for their home search and for this reason a well-staged home with images and video tours will generate more buyer interest. A staged house means arranging your furniture in the best way to showcase your floor plan and make use of the space.

This will also speed up the sale of your property. The Real Estate Staging Association found that homes staged before listing sit on the market for an average of 23 days and sell 87% faster than homes staged post listing.

3. Prioritize the kitchen area

This is the area that all home buyers will look at first and it is also a really important area of the house. Many experts will even say that you are not selling a home - you are selling a kitchen. If your kitchen looks dated then you will run the risk of buyers knocking off thousands for your asking price.

The quickest way to update your kitchen include fresh paint and new cabinet hardware. Make sure to use neutral paint colors with a blank canvas so buyers can imagine their own style.

4. Depersonalize your home

The more personal things you have in your house, the harder you're making it for potential buyers to imagine themselves living there. This is why it’s really important to remove most of your personal stuff. You can put it into storage if you need to. This includes any photos, keepsakes or collections.

5. Invest in quick fixes

Investing in quick updates is a really great way to sell your home faster. It is also a smarter option than over upgrading where you run the risk of shrinking profit margins. Consider doing things like adding fresh paint to the walls, cleaning or replacing curtains, replacing door handles and fixing leaky faucets. These changes are easy and affordable to make and can drastically increase the look of your home.

Attract buyers now

Remember that buyers are looking for square footage, space, great lighting and up-to-date or new fixtures and appliances. If you are looking to sell quickly, then you really should invest some time and money into making your home more appealing to the average buyer in both practical and visual terms.


Source: Realty Times | Amy Pritchett 012918

Friday, January 26, 2018

5 Reasons Millennials Choose To Buy

5 Reasons Millennials Choose to Buy [INFOGRAPHIC] | Keeping Current Matters

Some Highlights:

  • “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.”
  • The top reason millennials choose to buy is to have control over their living space, at 93%.
  • Many millennials who rent a home or apartment prior to buying their own homes dream of the day when they will be able to paint the walls whatever color they’d like, or renovate an outdated part of their living space.

Source: Keeping Current Matters | The KCM Crew 012618

Wednesday, January 24, 2018

Gap Between Homeowners & Appraisers Narrows To Lowest Mark In 2 Years


Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years
In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 4% or more over the next twelve months. One major challenge in such a market is the bank appraisal.
When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.
Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth and what an appraiser’s evaluation of that same home is.
In the latest release, the disparity was the narrowest it has been in over two years, as the gap between appraisers and homeowners was only -0.5%. This is important for homeowners to note as even a .5% difference in appraisal can mean thousands of dollars that a buyer or seller would have to come up with at closing (depending on the price of the home)
The chart below illustrates the changes in home price estimates over the last two years.
Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years | Keeping Current Matters
Bill Banfield, Executive VP of Capital Markets at Quicken Loans urges homeowners to find out how their local markets have been impacted by supply and demand:
“Appraisers and real estate professionals evaluate their local housing markets daily. Homeowners, on the other hand, may only think about their housing market when they see ‘for sale’ signs hit front yards in the spring or when they think about accessing their equity.”
“With several years of growth, owners may have more equity than they realize. Many consumers use the tax season at the beginning of the year to reevaluate their entire financial life. It also provides a good opportunity for them to consider how best to take advantage of their equity while mortgage interest rates and borrowing costs are still near record lows.”

Bottom Line 

Every house on the market must be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, meet with an experienced professional who can guide you through this and any other obstacles that may arise.


Source: Keeping Current Matters | The KCM Crew 012418