Deidre Pfeifer

Real Estate Agent, California

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Staging Tips: How to Make Your Bedrooms One of Your Home’s Best Selling Features

August 7, 2015 by Deidre Pfeifer

Staging Tips: How to Make Your Bedrooms One of Your Home’s Best Selling FeaturesTo potential homebuyers, a bedroom is more than just a place to lay your head at night. It’s a place to relax, retreat, and recover, a place where the demands of the busy world are locked out. And with a properly staged bedroom, you can tap into potential buyers’ desire for relaxation and make your home their number one pick.

So how can you stage your bedroom in a way that buyers will love? Here are three strategies you can use to make your bedroom look like a modern oasis – without spending a fortune.

Position The Bed In The Right Place

One easy-to-change yet often overlooked detail in staging the perfect bedroom is the location of the bed. The bed is the focal point of the room, so position it accordingly. If your bedroom has French doors or a large window, positioning your bed directly opposite that amenity will create balance.

Ideally, your bed should have space to walk around it on both sides. If that’s not possible, place it against the longest wall in the room.

Use Neutral Colors And Ample Lighting To Boost Appeal

As a highly personal and intimate space, the bedroom is one area of the home where potential buyers are likely to try to imagine themselves in the space. If your bedroom incorporates loud colors, unique patterns, or poor lighting, it’ll be harder for potential buyers to envision themselves there. What you want is a neutral color and lighting scheme.

Take out any dark curtains and heavy drapes, as they can make the room seem dirty. Swap out your bed sheets with white duvets and covers, and use some solid-colored throw pillows for contrast. Add a lamp to give the room a cozy feel.

Remove Everything That Screams “You”

The point of staging a home is to help potential buyers see themselves living in it – if you can get buyers to picture themselves actually living in your home, they’ll form an emotional connection to it and will be more likely not just to buy, but to bid at or above asking price.

But in order to help buyers see themselves living in your home, you have to make it look as if you were never there. That means the family photographs, books on the nightstand, and exercise equipment has to go.

Home staging is a highly effective way to make your home sell faster – and for more money. And although it may seem like quite the undertaking, an experience real estate agent can make it a breeze. Contact your trusted real estate professional today to learn more about home staging.

Filed Under: Home Seller Tips Tagged With: Home Seller Tips, Selling a Home, Staging

Real Estate Terminology 101: What Exactly Is A “Buyer’s Market”?

August 6, 2015 by Deidre Pfeifer

Real Estate Terminology 101: What Exactly Is A If you’ve been following the real estate industry for any length of time, you’ve probably heard the phrase “buyer’s market” at some point. And although the meaning may seem apparent, it takes some study to understand what actually constitutes a buyer’s market.

Who decides whether it’s a buyer’s or seller’s market? What’s the threshold for deciding between the two? Here’s what you need to know.

Supply And Demand: Economic Factors That Govern…Everything

If you studied economics in school, you’ll probably remember an early lesson on supply and demand. Essentially, supply and demand are the two factors that influence what a commodity is objectively “worth” in a free market. They’re also a great way of characterizing whether a market is hot or cold, and whether or not it’s a good idea to invest at any particular moment in time.

In a nutshell, supply is the amount of something that is available for purchase, while demand is the amount of that same thing that people want to buy. When supply goes up while demand stays the same, buyers have more choice with respect to whom they want to buy from – and that means the price goes down because the commodity is freely available. When demand increases while supply stays the same, we see the opposite effect – the value (and price) increases because there’s not enough of the supply to go around.

The Buyer’s Market: What You Need To Know

A buyer’s market is a real estate market where the supply of homes available is greater than the demand for housing – it’s a market where there are more homes for sale than there are people willing to buy. This is a great situation for buyers, because their freedom of choice gives them a significant amount of power when negotiating prices. In a buyer’s market, sellers may have to accept a lower price in order to make the sale.

How To Navigate The Buyer’s Market

For buyers, the buyer’s market means lower prices and fewer bidding wars. But there are still some basic principles that savvy buyers ought to follow. Don’t lowball too far below the asking price, even if it is a buyer’s market – if homes in an area have recently been selling for $400,000 and the asking price is $450,000, offering $350,000 will only insult the buyers.

A buyer’s market means you can find your dream home at an affordable price, but there are certain nuances you’ll want to pay attention to. A professional real estate agent can help you to read and navigate the market, which means you’ll have an easier time finding your ideal home. Contact your local real estate professional to learn more.

Filed Under: Real Estate Tips Tagged With: Home Buyer Tips, Home Seller Tips, Real Estate Tips

Thinking About Selling Your Home Without A Real Estate Agent? Don’t – Here’s Why

August 5, 2015 by Deidre Pfeifer

Thinking About Selling Your Home Without A Real Estate Agent Dont Here is WhyIf you’re considering selling your home in the near future, you may be tempted to simply cut out the middleman and opt for an FSBO sale. However, selling a home is a major undertaking, and most “For Sale By Owner” home sales run into obstacles.

So why is an FSBO sale such a problem for most homeowners? Here are three reasons why you’ll want an agent to represent you instead of going it alone.

An FSBO Puts You At Risk Of A Lawsuit

Selling a home involves mountains of paperwork, and in order to make the transfer of ownership legal and above board, there is a large amount of minutiae that need to be considered. For instance, as a seller, you are legally obligated to disclose certain facts about the property: Some jurisdictions require you to disclose whether a death occurred in the home, for example, or if the home is located in a historical district.

Even one seemingly minor mistake could open you up to legal action. An experienced real estate agent already knows everything that needs to be disclosed, and although agents can make mistakes, they have errors and omissions insurance to protect them. Most homeowners don’t have that protection in place.

Buyers’ Agents May Discourage Buyers From Viewing Your Home

When it comes to FSBO deals, most buyers’ agents anticipate the deal being a challenge at best. Buyers’ agents typically only show FSBO properties in one of two cases: Either the price is extremely low or there aren’t any other homes available.

But according to Atlanta real estate agent Bruce Ailion, most experienced agents have had an FSBO transaction go poorly at some point and are now wary of them. Without a real estate agent to represent you, sellers’ agents will be hesitant to deal with you – and you won’t get as many offers on your home as you’d like.

You’ll Need To Discern Qualified Buyers From Dreamers

One thing that most homeowners don’t know is that not everyone who views your home is actively interested in buying it in the near future. Showing your home may mean taking time off work or away from activities you care about, and if the prospect doesn’t end up buying, you’ve wasted your time.

A real estate agent knows what questions to ask in order to weed out the merely curious and find motivated buyers, so you’ll sell your home much faster.

FSBO sales don’t always end in disaster, but they’re considerably difficult to do well. An experienced real estate agent can help you sell your home faster and for more money than you can on your own. Contact your local real estate professional today to learn more.

Filed Under: Home Mortgage Tips, Home Seller Tips, Personal Finance Tagged With: Home Seller Tips, Homeowner Tips, Selling a Home

First-time Home Buyers: Why Splurging for a Larger Home Beats Condo Living

August 4, 2015 by Deidre Pfeifer

First-time Home Buyers: Why Splurging for a Larger Home Beats Condo Living Some first-time home buyers are on a tight budget when making their real estate purchase, and there may be an inclination by many to purchase a smaller property, such as a condo, rather than the home they truly want. While there may be some initial financial benefit associated with buying a smaller property, there are a few benefits associated with splurging and buying a larger home as a first purchase. By analyzing these benefits, first-time home buyers can make a more informed decision about how to proceed.

Costs Associated With Upgrading In The Future

Some people will purchase a smaller property initially with the goal of later upgrading to a larger property. This can provide the home buyer with the initial benefits of building equity, taking advantage of tax benefits associated with real estate ownership and more. However, there are costs associated with selling property, including closing costs, real estate fees, make-ready and improvement costs and more that should be considered.

Benefits Of Long-Term Ownership

For many, there will be a need to have a larger property over the years, such as when starting a family or when young children grow into teenagers who need more space. When the first property purchased is large enough for the family to grow into, the homeowner can enjoy long-term appreciation and equity growth. More than that, the higher value of the property may mean that there is more upside for property appreciation over the years.

Getting Established In A Community

In addition to the financial benefits associated with investing in a larger property initially, there are intangible benefits. Moving into a new home in a few years means that there is a need to get re-established in a community. When a home buyer settles down into a larger home that he or she plans to stay in for many long years or even decades, getting established and settled in the community can begin right away.

These are considerable benefits that can be enjoyed when a first-time home buyer makes a purchase that he or she plans to enjoy for many years to come, but there are other factors to consider. Each person needs to make a decision regarding a real estate purchase that is best for their needs, goals and financial situation, so there is not a best-fit solution that is right for everyone. Those who are thinking about buying their first piece of real estate may consider contacting a real estate professional for assistance with their home hunting efforts soon.

Filed Under: Home Buyer Tips Tagged With: Buying A Home, Home Buyer Tips, Real Estate Investing

3 Trends That Will Help Shape Your Local Real Estate Market in 2015

July 21, 2015 by Deidre Pfeifer

3 Trends That Will Help Shape Your Local Real Estate Market in 2015Each real estate market is unique in various ways, and your local real estate agent can help you to become more familiar with the trends in your community. For example, in some areas, it may be common for a seller to pay for at least a portion of the buyer’s closing costs, but this may not be common practice in other areas. While each market may be unique, there are some common trends that you can expect to be rather widespread across many communities throughout the rest of the year.

Buyers Acting Quickly To Make An Offer

In recent years, it was rather common for buyers to take their time researching the market and comparing various listings. There was a feeling that financing would continue to be affordable and that home prices would remain relatively low in many markets due to economic conditions. However, the economy has generally rebounded and market conditions in many areas have improved. There is an increasing feel of urgency in buyers to make a purchase sooner rather than later in order to lock in a great deal.

Younger Buyers Making a First-Time Home Purchase

Many younger adults have notably been sitting on the sidelines and have not been buying real estate at the same level that previous generations did in their 20s and younger 30s. However, as overall real estate market conditions have improved as well as other economic factors like the employment rate, consumer confidence and more, younger buyers are increasingly finding the confidence to move forward with their first home purchase.

More Realistic List Prices

In recent years, it was common for some sellers to list their home for sale based on the amount they owed on their mortgage or their general belief in property value without giving much consideration for market conditions. This may have been out of financial need, a general belief that their property value did not decline significantly even when markets plummeted and more. However, because market conditions have dramatically improved, you will find that the list prices on many properties are much more realistic.

Real estate agents keep a pulse on the trends in your local market, and their insight and guidance can be invaluable to you as you search for a property, structure an offer and walk through the rest of the home buying process. If you are preparing to purchase a home in the coming year, you can begin looking for a friendly and helpful real estate agent to assist you.

Filed Under: Real Estate Tips Tagged With: Home Buyer Tips, Home Seller Tips, Homeowner Tips

What’s Ahead For Mortgage Rates This Week – July 20, 2015

July 20, 2015 by Deidre Pfeifer

Whats Ahead For Mortgage Rates This Week July 13 2015Last week’s economic news included an encouraging report from the National Association of Home Builders, whose housing market index held steady with a reading of 60 in July. This was the 13th consecutive month for readings over 50, which indicate that more builders are confident about housing markets than those who are not. July’s reading was noteworthy as it was the highest since November 2005 prior to the recession.

Housing Starts, Building Permits Increase

The Commerce Department provided further evidence of stronger housing markets with reports on housing starts and building permits issued in June. Housing starts rose from May’s reading of 1.07 million to 1.17 million, which surpassed the expected reading of 1.11 million housing starts.

May’s reading for housing starts was revised from 1.04 million to 1.07 million an annual basis.

Construction of apartments and other multifamily housing complexes attained their highest level since 1987, which supports reported trends that millennials who prefer to live in larger cities are renting rather than buying homes. Housing starts gained nearly 10 percent between May and June. Would-be home buyers are also renting due to tighter mortgage approval standards; others may be “sitting on the fence” as they wait for further indications of stronger labor markets and improvements in overall economic conditions.

Building permits issued in June supported trends in housing starts, with permits for multi-family housing units higher by 16. 10 percent and was the highest reading for multi-family building permits since 1990. Analysts said that the increase in multifamily building permits was in caused by the pending expiration of a tax credit for builders in New York State that was set to expire June 30.

Permits for single family homes rose only 0.90 percent in June, to an annual pace of 689,000 but this was still the highest reading for single family housing permits since 2008.

Mortgage Rates Rise, Jobless Claims Fall

Freddie Mac reported that average mortgage rates rose last week. The rate for a 30-year fixed rate mortgage averaged 4.09 percent and was higher by five basis points. The average rate for a 15-year mortgage was also five basis points higher at 3.25 percent. The average rate for a 5/1 adjustable rate mortgage was up by three basis points to 2.96 percent. Discount points were 0.60 percent for 15 and 30 year mortgages and 0.50 percent for 6/1 adjustable rate mortgages.

New jobless claims fell to 281,000 last week against the prior week’s reading of 296,000 new claims and an expected reading of 285,000 new jobless claims. Analysts said that the current reading indicates that last week’s spike in new unemployment claims was a false alarm. Seasonal anomalies and re-tooling at some auto plants were cited as causes for the prior week’s high reading. New jobless claims have remained under the benchmark reading of 300,000 since February for the longest consecutive period in 15 years.

Last week’s reports ended with the University of Michigan’s Consumer Sentiment Index, which fell from June’s reading of 96.1 to 93.3; analysts expected a reading of 95.0.

What’s Ahead

Scheduled economic reports for next week include new and existing home sales, and FHFA home prices along with weekly reports on mortgage rates and new jobless claims.

Filed Under: Market Outlook Tagged With: Freddie Mac, Housing Starts, NAHB, National Association of Home Builders

NAHB: Home Builder Confidence Holds Steady

July 17, 2015 by Deidre Pfeifer

NAHB Home Builder Confidence Holds SteadyHome builder confidence remained steady at the highest reading in almost ten years according to the National Association of Home Builders (NAHB) Wells Fargo Housing Market Index for July. The latest reading of 60 for the index was identical to expectations and June’s reading, which was revised to 60 from an initial reading of 59. The NAHB Wells Fargo Housing Market Index is based on readings of zero to 100 with readings over 50 indicating that a majority of home builders surveyed are confident about housing market conditions. July’s reading was the 13th consecutive month of readings above 50.

July’s Housing Market Index Highest Since November 2005

NAHB chief economist David Crowe said that July’s reading is consistent with stronger markets for new and existing homes as well as job growth, but also noted builder concerns over obtaining lots for development and necessary labor at favorable prices.

The monthly reading for housing market condition is based on three components. Two components showed improvement with the reading for current market conditions up one point to 66; the reading for housing market conditions in the next six months gained two points for a reading of 72 and the reading for buyer foot traffic in new housing developments lost one point for a reading of 63.

Report Details Regional Market Conditions

NAHB’s three month moving average of regional builder confidence showed gains of one point in the South for a reading of 61; the Midwest also reported a gain of one point to 55. Builder confidence readings for the Northeast and West each gained three points to readings of 47 and 60 respectively.

NAHB chairman Tom Woods said that based on current readings, housing markets should continue to improve throughout the second half of 2015. Economic analysts agreed with this assessment and noted that evidence suggests that housing markets are seeing a steady upswing.

In unrelated reporting, the Department of Commerce is due to release reports on housing starts and building permits today.

Filed Under: Market Outlook Tagged With: Housing Market Index, NAHB, National Association of Home Builders

Have a Weekend to Spare? Consider These Quick Renovations to Add Value to Your Home

July 16, 2015 by Deidre Pfeifer

Have a Weekend to Spare? Consider These Quick Renovations to Add Value to Your HomeHomeowners who are thinking about listing their home for sale in the coming weeks or months may be focused on improving their home to help it sell more quickly, but there also may be a focus on adding value to the home in the process. While each home is unique, there are a few projects that most homeowners would benefit from. In fact, these are a few simple and easy projects that can typicaly be completed over the course of a weekend; that can add value and desirability to the home.

Replace The Front Door

The front door has an impact on curb appeal, and it also is one of the primary features that buyers will see when they approach your home to take a tour. Replacing an older door that lacks style or that is plagued with signs of wear and tear can improve property value and curb appeal alike. Many homeowners who have basic tools and some do-it-yourself experience with other projects will be able to replace the front door without additional help from a contractor.

Update The Kitchen Back Splash

A kitchen is a key selling point in a home, and the back splash is among the most visible features in this space. Replacing the back splash with stylish tile can improve the look and can instantly make the home more desirable. This can be a relatively simple type of home renovation project, if you have experience with tile work, that may be completed within just a few hours.

Repaint The Walls And Baseboards

Few things can improve the look of a home more easily than a fresh coat of paint. If the walls are showing signs of wear or the colors do not have modern or universal appeal, applying a fresh coat of paint to walls and baseboards is a simple enough project to tackle. For the best results, focus on the rooms with the most undesirable paint colors, in the most visible rooms of the home or in areas where the paint is in generally poor condition.

Each of these projects can have a dramatic impact on the homes appeal and can influence the value of the home itself.   Each of these prjects under most circomstances can be completed with minimal time and cost to the homeowner. Those who are ready to improve their home in a short period of time can consider which of these projects will yield the most significant results in their home. Consulting with a real estate professional about improvements that may be desirable in a specific home can help the homeowner in choosing what to tackle first.

Filed Under: Around The Home Tagged With: Around The Home, Home Maintenance, Upgrades and Renovations

Ignore ‘The Bubble’ Talk – 3 Reasons Why Summer 2015 is an Excellent Time to Buy Real Estate

July 15, 2015 by Deidre Pfeifer

Ignore 'The Bubble' Talk - 3 Reasons Why Summer 2015 is an Excellent Time to Buy Real Estate It is common for those who are interested in buying real estate in the near future to tune into news stories about the real estate market, and many may have heard that there is speculation about a real estate bubble that may pop soon. While this gloomy outlook on the real estate market can strike fear in some hearts and may deter a purchase until a later date, the fact is that summer 2015 is an excellent time to purchase property. In fact, there are three good reasons why potential buyers may want to start moving forward with their buying plans soon.

Low Interest Rates

Most who have plans to purchase real estate will need to apply for a mortgage loan to complete their transaction, and today’s low interest rates are highly competitive. Low interest rates make the cost of borrowing money to purchase real estate lower, and this means that the mortgage payment that may be locked in may be lower. There is some speculation that interest rates will rise in the coming months, and this means that now may be a great time to take advantage of lower interest rates.

Great Deals Available

More than that, there are some great real estate deals available for buyers to take advantage of. Real estate values in many areas have rebounded in recent years, but some areas are still off historic highs. In addition, there may be foreclosures, short sales and other types of transactions that can result in buyers saving money on their property purchase.

The Benefits Of Home Ownership

Another benefit associated with making a purchase now is that home buyers can start enjoying the financial benefits of home ownership sooner. These benefits include the ability to build equity through debt reduction and value appreciation as well as tax benefits associated with owning property. These are benefits that can have a true impact on a person’s financial situation, and it may be financialy advantageous to have access to these benefits sooner rather than later.

There will always be speculation about what the real estate market may do in the coming weeks, months and years, but it is impossible to accurately determine how the market may act. With this in mind, it may be best for buyers to take advantage of currently great market conditions rather than attempt to time the market in the future. Home buyers can get more information about market conditions by speaking with their trusted real estate professional.

Filed Under: Home Buyer Tips Tagged With: Buying A Home, Home Buyer Tips, Interest Rates

First-time Mortgage Borrowers: Avoid These “Rookie Mistakes”

July 14, 2015 by Deidre Pfeifer

First-time Mortgage Borrowers: Avoid These Many home buyers who are applying for their first mortgage will go to great lengths to research the options, learn more about loan terms and generally educate themselves about a process that they are unfamiliar with. Despite these common steps that rookie mortgage applicants make, they often make similar mistakes when applying for their first mortgage. By learning about these common mistakes, you can take steps to prevent making them yourself.

Not Focusing on All Costs of Home Ownership

Many first-time home buyers are overwhelmingly focused on setting up a mortgage payment that is affordable for their budget. While this is important, the mortgage payment is not the only expense associated with home ownership. For example, there are property taxes, insurance, repair and maintenance expenses, homeowners’ association dues and more. All of these expenses should be reviewed when you consider what mortgage payment is affordable for your budget.

Not Thinking About Short and Long-Term Plans

You should also think about short and long-term plans for your home ownership experience. Some will choose a long term or an adjustable rate to keep the payments low. However, they will not consider the fact that the payment will be in place until the home is sold or the loan is refinanced. It is not certain what mortgage rates will be in the future or if you may qualify for a great rate on a refinance loan in the future, so you should always ensure that you can maintain the payment structure for as long as needed.

Not Getting Pre-Qualified

It can be intimidating to get pre-qualified for a home mortgage. Some may fear rejection or denial altogether, and some may estimate an amount they may qualify for without actually getting pre-qualified. This can backfire for you. The pre-qualification process helps you to learn the maximum loan amount you may qualify for and the payment for that amount, and this is sound, valuable information that can help you to make a more informed decision when selecting your home.

As a first-time home buyer, you may be stressed about finding the right home to buy and researching the neighborhoods and schools. While these are all factors to pay attention to, you also need to focus heavily on your mortgage. Through these efforts, you can set up an affordable home loan that is comfortable for you to manage on your budget.

Filed Under: Home Mortgage Tips Tagged With: Home Mortgage Tips, Homeowner Tips, Mortgages

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