Title /blog/posts/2014/07/?format=rss A blog feed. en-US Wed, 30 Jul 2014 04:02:49 -0400 Right Time for First Time Home Buyers https://www.vtprop.com/blog/posts/2014/07/30/right-time-for-first-time-home-buyers/ <p>As we watch the economy rebound, real estate sales have been a strong indicator of overall economic health.</p> <p>As we anticipated, fast, cash only sales are declining. As the real estate market improves and inventory declines we are poised for rising home prices just as interest rates are increasing. With this in mind it may start to look like you could be priced out of the housing market. However, some believe now is the perfect opportunity for first time buyers to get their foot in the door before the end of 2014.</p> <p><strong>Home prices are still off their high</strong></p> <p>Home prices are rising, but considering how far they fell in 2008 there is still some great deals to be had. According to the S&P/Case-Shiller Home Price Index, average U.S. home prices are currently at summer 2004 levels.</p> <p>As the economy improves, first time home buyers will likely see significant appreciation in the years to come if they are able to get in now before both prices and rates increase.</p> <p><strong>Interest rates are expected to keep rising</strong></p> <p>Although interest rates are still very low, they are rising. Some experts believe that rates could reach 5% by the end of 2014. A percentage point here and there may not seem like a lot but even a small bump in interest rates can mean a significant jump in your monthly payment.</p> <p>A good example: consider a $400,000 mortgage at 4.2%. You will pay about $300,000 in interest on a 30-year mortgage. Increase that by a mere .7% (4.9%) and your overall payback increases by more than $60,000 over 30 years, that is more than $360,000 in interest alone!</p> <p><strong>Rental costs are also rising</strong></p> <p>This is where the first time home buyers need to really think about the costs of home ownership. While there are compelling reasons to rent rather than buy, these reasons are usually personal in nature, i.e. you move around a lot, your job location changes, etc. A good rule of thumb when you feel like it is time to put down roots is to consider the price/rent ratio, your buying power and the local housing market.</p> <p>Overall, you should look at your personal finances and really consider if buying is right for you. It may not be, but consider that experts believe that it is unlikely the housing market will be as appealing next year. Interest&nbsp;rates&nbsp;and home prices are both likely to be considerably higher and you may indeed find yourself priced out of the market in more ways than one.</p> <p>If the time is right for you to buy a home <a href= "http://www.vtprop.com" target="_blank">Vermont Properties</a> can help you find your home on or off Okemo Mountain, in the Lakes Region and the Okemo Valley. Stop by and say hi!</p> <p><a href= "https://s3.amazonaws.com/files.usmre.com/5698/blog/files/2014/07/sign-with-flowers.jpg"> <img class="alignleft size-medium wp-image-362" src= "https://s3.amazonaws.com/files.usmre.com/5698/blog/files/2014/07/sign-with-flowers-300x225.jpg" alt="sign with flowers" width="300" height="225" /></a></p> Ludlow Real Estate Okemo Real Estate Uncategorized Vermont Real Estate VT Properties News Wed, 30 Jul 2014 04:02:49 -0400 A fresh coat of paint! A fresh look for your home https://www.vtprop.com/blog/posts/2014/07/16/a-fresh-coat-of-paint-a-fresh-look-for-your-home/ <p>Thinking about selling your house? Paint your house! Your&nbsp;Realtor &reg; can be a trusted advisor, suggesting any changes that you should make to sell your home.</p> <p>What is the one thing 94% of all real estate agents agree will help sell a house? A fresh coat of paint! Sellers who invest in an interior paint job may find their homes are on the market for a shorter time and may get higher offers. It sounds easy enough but careful consideration of colors is important. Remember, you are not painting to suit your taste. Rather, finding colors that appeal to the broadest array of buyers is key!</p> <p>Buyers need to mentally "move in" to your home. Depending on the impression you want to give, consider the following information.</p> <p><strong>Enlarge a space</strong></p> <p>Cool colors reflect light and can appear to recede, enlarging small areas. A monochromatic color scheme can also make a space feel larger. To really create a feeling of spaciousness in a room, choose a soft blue, spa like green or cool gray.</p> <p><strong>Create calm</strong></p> <p>Organic shades of green, brown and blue elicit a positive response from most people and are a great choice for personal spaces, like bedrooms. They're neutral to live with and aren't likely to result in a "Get me out of here!" reaction during home showings.</p> <p><strong>Embrace intimacy</strong></p> <p>Warm colors, like sandy beiges, rich&nbsp;browns and muted reds or plums, will give a cavernous space a sense of intimacy. These cozy colors work well with wood floors, bronze finishes and some period.</p> <p><strong>Highlight a feature</strong></p> <p>Create an accent wall to highlight a special feature - like a fireplace or built-in bookshelves - but don't overdo it. Avoid choosing a bright or dramatic color. Instead, select a color that is 2 or 3 shades lighter or darker than the one on adjoining walls.</p> <p><strong>Camouflage the unwanted</strong></p> <p>Paint heater vents and other unavoidable fixtures the same color as the walls to minimize distractions - they should not be the first things buyers spot when they visit your home.</p> <p>What colors get the most favorable reactions? Depends on the room.</p> <p><strong>Kitchens should invite you in</strong></p> <p>In the kitchen it's good to stay in the orange, red and yellow families. These work well because they're food related, but it's important to still make them soft, appealing and neutral.</p> <p><strong>Bathrooms can be tricky</strong></p> <p>Bathrooms tend to be smaller so keep it light colored. Keep it in the light yellows or tans. Perhaps you can pick up colors from the tile floors. A favorite color idea is the "spa" colors like muted greens and lavenders. You can always use accessories or soaps to give it a pop of color.</p> <p><strong>Bedrooms are your haven</strong></p> <p>Ahh, the sanctuary of the house; especially important to stay away from bright colors. Choosing something neutral in tone that will work with the flooring and flow in to the master bath. You do not have to match the master bath but do keep them coordinated. You want people to have a sense of flow.</p> <p><strong>Home Offices should be cozy</strong></p> <p>For all us "old school" people who like the traditional colors. This is the space. In the home office warmer, richer colors are welcomed. People often expect an office to be painted with cinnamon, dark brown or even dark blue. These colors make the space an area to work and relax and impart comfort in the familiar.</p> <p><strong>The color to avoid may surprise<img class= "alignleft wp-image-355" src= "https://s3.amazonaws.com/files.usmre.com/5698/blog/files/2014/07/paint-cans.jpg" alt="paint cans" width="162" height="145" /></strong></p> <p>What color should you avoid? Seems like this is an easy one but most people don't even consider it.&nbsp;&nbsp; Surprisingly, white is the color to avoid. Many people will paint everything white thinking it is neutral; in fact it is a bright color.</p> <p>&nbsp;</p> <p>&nbsp;</p> <p>Decisions about paint colors can seem overwhelming. Just stick to a few solid rules and stay away from trends and you will be fine. Select muted colors for the most universal appeal. Avoid dramatic darks or brights that may cause buyers to react negatively. And of course, avoid white, the brightest color of them all! Choose a warmer or cooler tint instead.</p> <p>Happy painting!</p> Ludlow Condos Ludlow Real Estate Okemo Condos Sellers Selling Your Home Uncategorized VT Properties News Wed, 16 Jul 2014 03:19:40 -0400