Tips to Sell Your Home Faster for More

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Most of us realize that making your home as inviting as possible will attract higher offers faster because home buyers feel more comfortable. But how do you make that happen without spending a fortune?

“One of the most common mistakes that home sellers make is overlooking the simple and inexpensive steps in favor of costly upgrades” says agent Tev Brackin adding, “simply decluttering, depersonalizing, deep cleaning and curb appeal boosting lawncare will do more for resale value than just about anything you can do.”

Use this checklist to knock out the basic tasks to maximize your home’s value:

  1. Declutter every room in your house, the garage, the yard and any storage buildings.
  2. Depersonalize your home. Remove your personality so that potential buyers can visualize how their own personality will look in your house
  3. Deep clean. Think about hiring a pro – your realtor should have affordable options. Not only will they make your home sparkle, they’ll also often notice things that you may overlook.
  4. Amplify your curb appeal. Small and economical upgrades like a few cheerful flowerpots, fresh paint around the doorway, and trimming overgrown shrubs will make a big difference. Realtor Kali Blakley advises her clients to “Take a step back and add some color with potted plants – and you can take them with you after you sell.”

Of course, there are a few tasks that you may not have thought about that are absolutely worth your time:

  1. Wow buyers with inviting pictures that compel them to take a deeper look. Most buyers begin their search online. Be sure to declutter, depersonalize, deep clean and brighten your home before taking your online listing photos. Consider hiring a professional real estate photographer to maximize your appeal.
  2. Avoid surprises by conducting your own pre-listing inspection. A pre-listing inspection provides sellers with upfront information about the condition of their property, which gives them more control over repairs and potentially strengthens their negotiating position.
  3. Adjust the thermostat to make certain that your home is comfortable for potential buyers when showing the home.
  4. Make your home smell free. Taking out the garbage and recycling is obvious but removing candles and room fresheners is important too. Any smell can spoil a buyer’s opinion of your property. “Some sellers are shocked when I tell them a buyer thought that the candle scent was covering up a musky smell in the home.” Recalled agent Shelby Enyart.
  5. Avoid signs of your pets in the home. While we love our pets, dander, excess fur and messes in the yard can turn-off potential buyers.

The to-do list or home sellers may seem never ending. Use this list to help your home make a powerful impression, entice buyers, and compel maximum offers early in the process.

How Realtor Commission Changes Affect You

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Have you been hearing the buzz about changes in real estate commissions and wondering what it all means for you as a home buyer or seller? Recent changes to real estate commission structures are poised to significantly impact home buyers and sellers in Oklahoma. The media chums the water with headlines declaring things like:

  • “Real estate commissions are being slashed!”
  • “Selling your house will now be less expensive!”
  • “No more paying 6% to real estate agents!”

These changes stem from a series of legal settlements and new regulations aiming to increase transparency and fairness in real estate transactions.

They may sound like a game-changer, but what does it really mean for you? To clear up the confusion, we’ve put together a quick and easy guide. Dive in to understand the recent NAR settlement, how it will work, and how you can benefit from these changes.

First, What’s Changing?

Traditionally, the seller pays the real estate commission for both the seller’s agent and the buyer’s agent, often totaling around 6% of the home’s sale price. The settlements require real estate agents to make their commission structures more transparent and allow buyers and sellers to negotiate commissions more freely. The changes are designed to protect consumers by promoting fair competition and preventing anti-competitive practices in the real estate market. This shift aims to ensure that consumers get better value for their money​ (www.nar.realtor)​.

The settlement mandates increased transparency regarding real estate commissions. Sellers and buyers must now be informed about how commissions are divided between agents, which can lead to more informed decisions and potential cost saving. Here’s an excerpt from a National Association of REALTORS® press release that speaks to the changes most likely affect the typical home buyer or seller:

“In addition to the financial payment, NAR has agreed to put in place a new MLS rule prohibiting offers of broker compensation on the MLS. This would mean that offers of broker compensation could not be communicated via the MLS, but they could continue to be an option consumers can pursue off-MLS through negotiation and consultation with real estate professionals. Offers of compensation help make professional representation more accessible, decrease costs for home buyers to secure these services, increase fair housing opportunities, and increase the potential buyer pool for sellers. They are also consistent with the real estate laws in the many states that expressly authorize them.

Further, NAR has agreed to enact a new rule that would require MLS participants working with buyers to enter into written agreements with their buyers. NAR continues, as it has done for years, to encourage its members to use buyer brokerage agreements that help consumers understand exactly what services and value will be provided, and for how much. These changes will go into effect in mid-July 2024.”

Simply stated, this means that sellers may choose not to offer or agree to pay a commission to buyers’ agents when they list their house for sale. And buyers are now allowed to choose to not work with a buyers’ agent when they buy, in hopes of saving money.

Impact on Home Sellers

Sellers now have greater power to negotiate commission rates with their listing agents. This flexibility can lead to tailored agreements that better suit the seller’s needs and financial situation.​Home sellers need to know that:

  • You may still offer a commission to buyers’ agents but, you can’t publish how you’re willing to offer or agree to on your listing.
  • In most cases when a buyers agent commission is offered, it will likely be paid through the proceeds of the sale.
  • Selling price may be impacted. The traditional practice of incorporating commission costs into the selling price may change. Sellers might list their homes at lower prices since they won’t need to cover the buyer’s agent’s commission, potentially making homes more attractive to buyers.

Impact on Home Buyers

One of the most significant changes is that buyers may now need to pay their agent’s commission directly, rather than having it included in the home’s price. This could mean buyers must have more cash available upfront, potentially reducing their purchasing power.

With the new regulations, agents might need to work harder to justify their commission rates, emphasizing their value in the home buying and selling process. This could lead to a more competitive market for real estate services, with agents offering enhanced services or lower rates to attract clients.

Legislative Perspectives

Oklahoma legislators have mixed reactions to these changes. Some, like State Senator James Leewright, saw the new rules as a positive step towards greater transparency and consumer protection in real estate transactions. “These reforms are necessary to ensure that home buyers are fully aware of the costs they are incurring and to promote fair competition among real estate professionals,” Leewright stated.

Others worry about the potential negative impact on the housing market. Representative Mark Lepak expressed concerns that the increased upfront costs for buyers could slow down the market, particularly affecting first-time homebuyers and those with limited financial resources. “While transparency is important, we must also consider the practical implications for our constituents who may find it harder to afford a home under these new rules,” Lepak commented.

The Takeaway

Aside from flashy headlines, the only immediate change for home buyers and sellers is greater transparency in the real estate process and increased control of how they compensate real estate professionals.

Ronn Cunningham, Broker at CJ Real Estate advises:

  • Budget Accordingly. Be prepared for potential changes in how you’ll pay your real estate agent. Discuss commission structures early in the process to understand what your out-of-pocket expenses might be.
  • Don’t be afraid to negotiate commission rates with your real estate agent. With the increased focus on transparency, agents may be more willing to discuss and adjust their fees.
  • Compare Services. As agents strive to prove their value, it’s a good time to compare the services and rates of different agents. Look for those who offer the best combination of services and costs to meet your needs.

While commission change may pose new challenges, they also offer opportunities for savvy buyers and sellers to navigate the real estate process more effectively.

Key Terms Every Home Seller Should Know

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Selling a home is a significant event that involves numerous steps, legalities, and jargon that can be quite overwhelming for the uninitiated. To ensure a smooth transaction and to empower yourself as a seller, it’s vital to familiarize yourself with the key terms used in the real estate market. Here’s a list of terms every home seller should know to navigate the sales process with confidence and clarity.

Comparative Market Analysis (CMA)

A Comparative Market Analysis is an evaluation of similar properties in the same area that have recently sold, are currently on the market, or were on the market and failed to sell. A CMA helps you price your home competitively by giving insight into how your home compares to others in terms of price, size, amenities, and conditions.

Listing Agreement

This is a contract between a homeowner and a real estate agent, detailing the conditions under which the agent will sell the home. It includes the duration of the agreement, the listing price, the agent’s commission, and other terms of the arrangement.

Asking Price

The asking price is the amount of money a seller requests when listing their property for sale. It can differ from the final sale price after negotiations and is often strategically set based on a CMA.

Offer

An offer is a formal proposal made by a potential buyer to purchase your home. It includes the offered price and may contain contingencies, which are conditions that must be met for the sale to proceed.

Contingencies

Contingencies refer to specific conditions outlined in an offer or a purchase agreement that must be fulfilled before a real estate transaction can be completed. Common contingencies include home inspections, appraisal, financing, and the sale of the buyer’s current home.

Escrow

Escrow is a neutral third party or account that holds funds in trust until all parts of a real estate transaction are complete. This process ensures that the buyer’s earnest money is safeguarded while purchase conditions are met.

Earnest Money

Earnest money is a deposit made by a buyer to demonstrate their seriousness about purchasing the home. It’s held in escrow until the closing and usually counts towards the down payment or closing costs.

Closing Costs

Closing costs are expenses, over and above the price of the property, incurred by buyers and sellers in transferring ownership of a property. These may include fees for attorneys, title search, escrow, home appraisal, and more.

Disclosure Statements

Sellers are usually required by law to provide disclosure statements, which reveal any known issues with the property that could affect its value or desirability. This might include past damages, presence of hazardous materials, or other significant flaws.

Title Insurance

Title insurance protects real estate owners and lenders against any property loss or damage they might experience due to liens, encumbrances, or defects in the title to the property.

Home Warranty

A home warranty is a service contract that covers the repair or replacement of home systems and appliances that break down over time. Offering one can sometimes enhance the attractiveness of the property.

Understanding these terms will equip you with the knowledge needed to engage in real estate transactions more confidently and effectively. Remember, always consult with professionals like real estate agents, attorneys, and financial advisors to guide you through the intricacies of selling your home.

Armed with the right information, you can look forward to a successful and stress-free home sale. If you’re preparing to put your house on the market, take the time to learn the lingo—it’s one of the first steps toward real estate success!

Would you like to delve deeper into any of these terms, or do you need assistance with another aspect of home selling?

ABOUT CJ REAL ESTATE:  CJ Real Estate is a full-service brokerage helping people across Oklahoma, Arkansas, Missouri and Kansas buy and sell residential, lake, land, ranch and commercial real estate with confidence.

MEDIA CONTACT:

Ronn Cunningham

1.918.550.8122

Info@CJ-RE.com

 

SOURCE: Cunningham-Johnson Real Estate

Lake living never looked so good

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Fabulous home design options full of bright and modern options.

If you’re looking to take your laid back, comfy and casual lake house decor to the next level, look no more! Updated lake decor is so easy to find these days. Lake homes are evolving into homes with clean lines, plentiful textures, and modern, simple styling. It’s contemporary but still inviting and comfortable and endlessly livable.

Todays lake home buyers are trending towards a more ‘coastal modern’ look. It’s stylish and sophisticated, elegant and beautiful, but still relaxed enough to be stress free. Learn more about how to get an elegantly chill vibe in your lake home.

Lake living never looked so good!

Long gone are those days of dark, rustic lake house decor! Now there are fabulous options that are light and bright, fresh and modern.

Your lake house will shine with living spaces full of light from warm shades of greys and shining metallics to rustic accents and beautiful organic woods. When designing spaces for an entire home, there has to be a certain flow from the textiles to cabinetry to paint colors. Great design provides a seamless transition from room to room.

Texture helps living space design pop!

Texture adds a lot of interest and laid-back vacation style to your lake house decor. Think of elements like grass cloth, rattan and raffia. These traditional, natural textures speak to the outdoor and of course, a little nod to the water and the islands.

We like to incorporate rattan into our lake decor in elements like a lighting, seating, accent furniture and more. It adds instant interest to any space, while still remaining light and bright, and so functional!

Weave a little texture in through linens – pillow covers and throws add depth and small comforts.

Texture matters so much in design – but especially when you’re working with a modern space. When you are choosing a simplified color palette, texture goes a long way to create a warm and cozy home!

Adding textural elements like pillow covers, throws and even textured furniture can take your space to the next level. Create a lake home that guests will want to return to again and again!

Crisp whites make better backdrops

Clean whites look fresh and crisp while serving as a beautiful backdrop for pops of color. They feel clean, welcoming and spa-inspired.

Image Credit: Laurey W. Glenn; Styling: Matthew Gleason

I know white might feel like a leap for some… of course, it does show dirt a little more than other colors might. However, there are two important takeaways when balancing your love for a clean, bright white interior design element.

First, consider this: if you can see the dirt, you can clean the dirt. It’s the reason higher end hotels often provide white bedding, robes and towels!

And secondly, it’s easy to incorporate white pieces that might not feel like quite as much of a risk! Choose easy-to-clean elements like this tree side table, hanging swing and stool for pops of crisp white that will leave you feeling at ease.

Crisp whites can be brought in in ways large and small. Even integrating white towels can make your home feel like a stay in a luxurious hotel!

Plush white bath towels add a luxurious touch to your lake decor and comfort.

Add fun flair to your lake house decor with a crisp white scallop quilt.

Stripes make a subtle nautical statement

Stripes are a quintessential reference to everything nautical! They speak to summer and have such a happy, preppy feel that works beautifully in lake house decor.

Another benefit of incorporating stripes into your lake house interior design? They are truly timeless. Historic homes and resorts from decades ago were using stripes to welcome guests in a fresh, bold way… so why shouldn’t we continue the tradition?

Much like a beach house, a lake house should reference the water in some way… and there’s no better way to do that than with fresh, bold stripes!

Details make the difference

Add in a few nods to lake life. Don’t be afraid to integrate them, just remember to do so, sparingly.

Oars can give your home a sense of adventure. Hang above above a large window or replace a banister with one to make a unique handrail.

You can integrate boats, ropes, cleats and anchors in unexpected ways. Cleats make great towel hangers!

More Lake Decor Tips

Enjoy all the fun designing your stylish lake home without getting to complicated. A few well-placed details go a long way towards personalizing your cozy getaway.

  • Try a wooden oar or heavy duty nautical rope as your stair railing or even to hang curtains!
  • Incorporate natural, soft wood tones like white oak floors to embrace the rustic lake setting.
  • Add a Bunk Room – there’s nothing that feels more like a lake home than that!
  • Personalize your wall art with inexpensive photos of family time at the lake, or personalized maps that reference your location.
  • Create an nook under your stairs or anywhere – perfect for overflow guests and a great space for the kids to read on a rainy day!
  • Embrace the view. Frame it with your furniture, create nearby seating areas and keep windows unobstructed. It’s the perfect space to create a window bench seat.
  • Don’t forget outdoor spaces. Bring the comforts of home, outdoors! Lighting, rugs, side tables, coffee tables, cozy sofas and more!
  • A few details go a long way. You can integrate a nautical fixture or brass cleats, but tone it down with more subtle nautical nods like crisp whites and striped towels.

Looking for more lake house inspiration? Reach out to Tev, Shelby or Kali today. They’ll be happy to connect you with a designer that’s just right for your taste and lifestyle.

ABOUT CJ REAL ESTATE:  CJ Real Estate is a full-service brokerage helping people across Oklahoma, Arkansas, Missouri and Kansas buy and sell residential, lake, land, ranch and commercial real estate with confidence.

 

MEDIA CONTACT:

Ronn Cunningham

1.918.550.8122

Info@CJ-RE.com

 

SOURCE: Cunningham-Johnson Real Estate

Hot 2024 New Home Features

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Welcome to the future of home buying in 2024, where home buyer priorities are shifting to focus on blending comfort, functionality, and an eco-friendly touch that tips its hat to the natural world around us. New research reveals that house hunters are willing to accept a smaller property if it includes key amenities. Learn more in this 3-minute article.

New home shoppers are making a surprising trade-off—they’re opting for smaller houses than we’ve seen in over a decade. With the average new house now sizing at just 2,479 square feet, the smallest in 13 years, it’s clear that owning a cozy corner of the world is becoming more of a priority than sprawling square footage. Interestingly, 38% of builders reported building smaller homes in 2023 and early new housing permits indicate the trend will continue.

Today’s buyers crave homes that feel distinctly theirs. People are placing greater value in personalization and authenticity. Realtor Alex Shibley relayed that he’s finding home buyers are looking for better quality, rather than bigger homes. “They want their new house to instantly feel like a home. Uniquely tailored to them and not a cookie-cutter of their neighbors’ homes.”

The NAHB’s survey, “What Home Buyers Really Want,” sheds light on buyers’ preferences. Nearly 40% are okay with a smaller yard if it means getting a home, and 35% would go for a smaller dwelling. When it comes to scaling down, kitchens and closet space are must-haves while buyers are swiping left when it comes to dining rooms and dens.

Beyond the home’s physical features, buyers are keen for specific amenities, valuing elements like laundry rooms, patios as well as Energy Star-rated windows and appliances. And true to the spirit of customization, technology plays a key role in modern homes, from security cameras to energy management systems— innovations aimed at making homes safer and more comfortable.

Another interesting trend is the growing popularity of multi-generational living, with over half of respondents expressing a preference for homes with dual primary bedroom suites.

While builders plan to include high-demand features like laundry rooms, spacious great rooms, and stylish kitchen islands in their 2024 projects, they’re less likely to incorporate less sought-after options like cork flooring or pet washing stations.

So what are the most sought after new home features in 2024?

Sustainability Takes Center Stage

The real estate scene is riding a green wave. Eco-friendly features like energy-saving appliances, solar panels, and materials that do less harm to our planet are moving from nice-to-haves to must-haves. The National Association of Realtors has highlighted a growing appetite for such homes. But it’s not just about eco-conscious living; it’s also about thinner utility bills!

Smart Homes Get Smarter

In our tech-savvy era, homebuyers crave properties that sync up with their digital lives. We’re talking about smart thermostats, high-tech security setups, and lights that dim with a single command. Thanks to platforms like Thumbtack, the surge in smart device installations is tangible. These gadgets promise not just convenience but a safer living environment too.

Luxury Kitchen and Bath Touches

Kitchens and bathrooms hold the throne when it comes to spaces that capture homebuyers’ hearts. The dream? Think large, sumptuous kitchens and bathrooms that rival a spa experience, marrying sleek design with utter functionality.

Home Office Space to Two

With the remote work trend showing no signs of fading, the demand for dedicated home offices is sky-high. Buyers are on the lookout for quiet, well-equipped spots where both bread winners can buckle down and work. It’s no longer a perk—it’s a staple for the modern professionals.

The future of homeownership is shaping up to be not just about having a place to live, but creating a space that reflects personal style and caters to modern needs—proving that sometimes, less really is more.

ABOUT CJ REAL ESTATE:  CJ Real Estate is a full-service brokerage helping people across Oklahoma, Arkansas, Missouri and Kansas buy and sell residential, lake, land, ranch and commercial real estate with confidence.

 

MEDIA CONTACT:

Ronn Cunningham

1.918.550.8122

Info@CJ-RE.com

 

SOURCE: Cunningham-Johnson Real Estate

Our Favorite New Color Trends

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Sherwin-Williams: Upward

The 2024 color landscape is full of stunning shades of versatile blues and earthy tones to connect living spaces and ignite your creativity.

Last year, warm hues that sparked creativity took center stage. We’re seeing more blues and earth tones bringing comfort, versatility, and natural connections to living spaces. From a grounding soft black to an uplifting sky blue, from a muted olive green to a warm peach, the options are endless.

We’ve compiled a short list of our favorite ‘Colors of the Year for 2024’, making it easier for you to keep track and explore the ones that catch your eye. There are more to come so check back for updates soon. Whether you’ve already embraced these colors or are still deciding how to incorporate them into your walls or wardrobe, this handy cheat sheet has got you covered. And as a bonus, we’ve even included some ideas on how to bring these colors into your home to ignite your creative flow. We can’t wait to see how you put these colors to work infusing your spaces with a colorful refresh.

Benjamin Moore: Blue Nova

Benjamin Moore: Blue Nova

Indulge your senses, explore new horizons, and let Blue Nova guide you on a journey of creativity within your living space. This cosmic blend of blue and violet is more than just a hue; it’s an invitation to embrace adventure and indulge in new experiences. In a unique collaboration, Benjamin Moore and aerospace company Blue Origin have joined forces to unveil this color and ignite a passion for STEM education and careers in the space industry among future generations.

The paint experts at Benjamin Moore suggest creating a captivating atmosphere by pairing this grounding blue with vibrant, contrasting colors such as orange. This combination brings a touch of ethereality to any space. Moreover, think beyond the walls and explore the idea of a statement-making painted ceiling or covering every wall of a powder room with Blue Nova. The choice is yours, and the options are limitless.

Sherwin-Williams: Upward

Sherwin-Williams: Upward

This serene blue color embodies the feeling of taking a slow breath of crisp air, evokeing a sense of contentment and peace. With this color, they invite consumers to infuse a new sense of ease and possibility into their spaces.

Upward, with its light blue shade and gray undertones, is perfect for creating a coastal chic design style. It can be used as a standout color in a bathroom or kitchen. In a calming bedroom, it also serves as a refreshing accent wall.

Overall, this relaxed blue hue not only adds visual appeal but also creates a tranquil atmosphere. It encourages pause, meditation, and a feeling of tranquility when incorporated into interior design.

Pantone: Peach Fuzz

Pantone Peach Fuzz

A light, delicate shade that sits between pink and orange, Peach Fuzz marks the 25th anniversary of Pantone’s Color of the Year program. This soft, heartfelt hue expresses the desire to nurture kindness, compassion, and connection—all while fostering a deep coziness as we seek a peaceful future.

PPG/Glidden: Limitless

This remarkable hue, described as a honey beige, defies the norms as it possesses the endurance of a primary color while maintaining the adaptability of a neutral shade.

In this ever-evolving world where consumers are pushing the boundaries of color usage in unconventional ways, a versatile palette is in demand. Glidden’s Limitless offers just that. With its warm neutral tone, it can be applied anywhere and everywhere, from adorning kitchen cabinets to painting ceilings, ensuring a perfect fit with any new or existing decor.

So, if you’re looking to inject an extra touch of creativity and vibrancy into your space, Glidden’s Limitless is the perfect choice. Step into this new era of endless possibilities and embrace the beauty and versatility that this remarkable color brings. Don’t limit yourself; let your imagination run wild with Limitless.

Behr: Cracked Pepper

This soft black shade possesses the remarkable ability to ground any space, while also possessing a timeless quality. It effortlessly blends into any design style, making it an approachable gateway into the world of darker paint.

The announcement of Cracked Pepper as the Color of the Year was made by Behr and The Home Depot at Stanly Ranch in Napa, California. The choice of location perfectly showcases how black can effortlessly blend with nature and other neutrals, creating a harmonious and captivating aesthetic.

According to Erika Woelfel, the vice president of color and creative services at Behr Paint, “Cracked Pepper empowers and elevates our senses, creating a truly sophisticated atmosphere in any room of our homes.” Its timeless and modern appeal is sure to leave a lasting impression on all who experience it.

It’s clear that neutral decor just got a whole lot more exciting. Get ready to be inspired and transform your living spaces with this captivating and versatile shade.

Sherwin-Williams: Persimmon

Persimmon exudes warmth, vitality, and a hint of nostalgia. In today’s world, our homes have evolved to become more than just living spaces; they are now sanctuaries of relaxation. The concept of “Renewed Comfort” effectively captures this idea, and this curated collection perfectly blends cherished traditions with contemporary innovation.

The main focus of this collection is the earthy color named for the plump, sweet fruit. Persimmon combines softness, exuberance, and security. The warm and inviting color is ideal for creating a cozy and comfortable atmosphere in any room. It can be used as an accent with other shades in the collection to add a touch of brightness and vitality, or as a more dominant color to create a bold and statement-making space.

ABOUT CJ REAL ESTATE:  CJ Real Estate is a full-service brokerage helping people across Oklahoma, Arkansas, Missouri and Kansas buy and sell residential, lake, land, ranch and commercial real estate with confidence.

 

MEDIA CONTACT:

Ronn Cunningham

1.918.550.8122

Info@CJ-RE.com

 

SOURCE: Cunningham-Johnson Real Estate

Home Maintenance Tips

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A First-time Homebuyer’s Guide to Home Maintenance

Buying your first home is a significant milestone, and it feels exhilarating to finally own a house. However, homeownership also comes with responsibility. An essential part of owning a house is maintenance. As a first-time homebuyer, it’s crucial to understand what you need to maintain to keep your property in good shape.

Home maintenance may seem daunting, but with the proper knowledge and preparation, homeownership can be a breeze. Here are a few helpful tips on how to keep your home in excellent condition and avoid common maintenance mistakes.

 

Know Your Homes Critical Systems:

You don’t need to be an expert but, it’s important to know that what these systems are, all the functions they perform and have regular preventive maintenance checks and services.

  1. A properly functioning heating, ventilation, and air conditioning (HVAC) system is critical for maintaining indoor comfort and air quality. As a homeowner, you should understand the basics of how your HVAC system operates. Check the air filters monthly and change them regularly. Schedule regular HVAC maintenance with a licensed and qualified technician to keep your system operating efficiently and identify potential issues before they become costly repairs.
  2. Gutters and Downspouts. Gutters that are clogged with leaves, debris, and water can cause significant damage to a house’s foundation and roof. As a homeowner, inspect and clean the gutters and downspouts regularly. If left unchecked, clogged gutters can lead to water damage, foundation problems, and basement flooding.
  3. Electrical Systems. Your home’s electrical system is complex and vital to everyday life. Inspect your electrical outlets and wiring regularly for signs of damage and wear. Check the circuit breaker panel to see if any breakers have tripped and replace any that continuously trip. If you notice any electrical issues, hire a licensed electrician to diagnose and repair the problem.
  4. Water damage can be an expensive and time-consuming problem to fix. Regularly inspect your pipes and plumbing fixtures for any leaks, rust, or corrosion. Ensure that the drainpipes and gutters are functioning correctly and keep an eye out for any water spots or discolored walls and ceilings. If you have any concerns, consult with a licensed plumber.
  5. Roof and Windows. Your roof and windows are your home’s primary defenses against the elements, so it’s essential to maintain them. Conduct regular inspections of the roof and look for any signs of wear or damage, such as cracked or missing shingles. Clean your gutters and downspouts to prevent clogs that can lead to water damage. Inspect the windows and look for any cracks, leaks, or damage.

 

Create a home maintenance schedule:

A maintenance schedule is the best way to ensure that your home remains in excellent condition. Create a list of all the tasks you need to do, including when they should be done and how often. For instance, you might need to clean gutters in the fall, change air filters every three months, and have your HVAC system serviced annually. A maintenance schedule ensures that you don’t miss any essential tasks to keep your home in excellent shape.

 

Learn basic DIY skills:

Not all home maintenance tasks require a professional handyman. Learn basic DIY skills, such as changing light bulbs, repairing leaking faucets, painting walls, and unclogging drains. With the internet as a valuable resource, you can find step-by-step guides and tutorials to help you tackle simple repairs yourself. However, be honest about your limitations, and don’t attempt risky repairs you can’t handle.

 

Check for water damage:

Water damage can be costly and dangerous, causing mold growth, warping wood, and even weakening your home’s structure. Knowing how to spot water damage and addressing it promptly can prevent significant issues. Check for signs of water damage, such as brown stains on the ceiling, musty smells, and water puddles. Inspect your home’s plumbing system, including pipes, toilets, and water heaters, to ensure they’re not leaking.

 

Maintain your home’s exterior:

Your home’s exterior is the first impression visitors get when they approach your property. Maintaining your home’s exterior improves curb appeal and also keeps your home safe from damage. Regularly clean gutters, trim bushes, mow the lawn, and pressure-wash your home’s siding. Inspect your home’s roof to ensure it’s not leaking or damaged. Regular upkeep of your home’s exterior can also prevent pest infestations.

 

Budget for maintenance:

Home maintenance expenses can add up quickly, making it essential to budget for them. Even if you aren’t experiencing any significant issues, it’s smart to set aside money for unexpected repairs. With a budget, you can avoid dipping into your savings or racking up credit card debt when a problem arises. A rule of thumb is to set aside one percent of your home’s total value annually for maintenance.

 

Conclusion:

Owning a home is exciting, but it can also be overwhelming, especially for first-time homebuyers. Home maintenance can help keep your house safe, comfortable, and in good condition. By following these tips, you can minimize expensive repairs and keep your home in excellent condition for years to come. Remember, regular maintenance can save you money and ensure you get the maximum value from your investment.

Homeownership can be a rewarding experience, but it comes with responsibilities. Fortunately, with preparation and knowledge, maintaining your property can be manageable and even enjoyable. Remember to create a maintenance schedule, learn DIY skills, be proactive about preventative maintenance of critical systems, and budget for maintenance. Taking these steps can help ensure that your first home remains in perfect condition for years to come.

What is PMI?

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What is PMI and How Does it Affect Your Home Buying Process?

 

Purchasing a home is one of the most significant investments you will make in your life. However, it can be a little confusing, especially when navigating through the financial aspect of buying a new home. One thing you may have come across in your research is something called Private Mortgage Insurance or PMI. In this blog post, we’ll dive a little deeper into what exactly PMI is and how it affects your home buying process as a first-time homebuyer.

 

PMI is a type of insurance that lenders require borrowers to pay when they have a down payment of less than 20% of the total mortgage amount. This insurance protects the lender in case the borrower fails to meet their mortgage payments. The cost of PMI varies based on the loan amount, credit score, and down payment, but it typically costs between 0.3% and 1.5% of the loan amount annually.

 

PMI is usually added to your monthly mortgage payment, increasing your overall monthly payment. It’s essential to factor in this cost when budgeting and calculating your mortgage payments. If you put down a down payment of less than 20%, you cannot avoid paying PMI unless you refinance or pay off the loan until the mortgage amount is less than 80% of the value of the property.

 

There are two kinds of PMI: borrower-paid and lender-paid. Borrower-paid PMI is the most common form, where the borrower pays the PMI premium to the lender. In contrast, Lender-paid PMI is where the lender pays the PMI premium, but this usually comes with a slightly higher interest rate, which may be more costly in the long run.

 

The good news is that PMI is not a permanent addition to your mortgage payments. Once you have paid off enough of the loan balance until the mortgage amount is less than 80% of the property’s value, you can contact your lender to remove the PMI. You must also have a good payment history with no late payments.

 

Understanding PMI is crucial when it comes to home buying. As a first-time homebuyer, you want to ensure you can afford the monthly payments that come with homeownership. Knowing that PMI is an additional cost to your monthly mortgage payment, you should factor in this expense when budgeting for your new home. It’s always best to speak with a mortgage specialist to review your options and figure out what loan works best for you. That way, you can make a sound financial decision on your home purchase, and avoiding PMI is always the goal.

First Time Homebuyers Guide

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First-Time Homebuyer’s Guide

 

If you are renting, you may be questioning whether home ownership is worth the investment. Renting may seem easier since it requires less upfront expenses, but owning a home brings many benefits that renting can’t offer. Here are several advantages of home ownership that could change your mind about buying a home.

 

What are the Advantages of Home Ownership?

 

  1. Build Equity Over Time. One of the most significant advantages of home ownership is building equity over time. Equity is the amount of your home’s value that you own compared to the amount you owe on the mortgage. As you pay off the mortgage, your equity increases. As your home’s value increases over time, so does your equity. Building equity through homeownership gives you access to funds, provides financial security, and builds wealth over time.

 

  1. Tax Benefits. Homeowners are entitled to various tax deductions that renters aren’t. Mortgage interest and property taxes are tax-deductible, which can significantly reduce the amount of tax you owe each year. When you own a home, you can itemize your deductions, which can lead to significant savings.

 

  1. Control Over Your Investment. When you own a home, you have full control over your investment. You can make changes, upgrades, and renovations as you see fit. As a homeowner, you can decorate your home to your taste, put up shelves, and even remodel when needed. Beyond the physical changes, homeowners have more control over the quality of their community and the safety of their neighborhood. You can meet your neighbors and get involved in activities that interest you. You can also influence and participate in your neighborhood’s decisions.

 

  1. Forced Savings. When you own your home, you must save money regularly to maintain and repair your property. These expenses may seem like a burden, but they are essentially forced savings. By paying maintenance and repair costs, you preserve the value of your home, protect your equity, and avoid costly surprises down the road.

 

  1. Long-Term Financial Benefits. Homeownership can have long-term financial benefits that far outweigh the cost. Owning a home offers greater financial stability, provides a hedge against inflation, and provides the opportunity to build wealth over time. If you stay in your home for an extended period, you may own the home outright and be free of mortgage payments altogether.

 

 

What are My Financial Considerations?

 

The decision to buy a home is one of the most significant financial commitments you’ll make. It’s not just about finding your dream home; it’s also about weighing the financial factors involved. Owning a home is a substantial investment, and it’s essential that you’re prepared for the hidden costs beyond your mortgage payments. As a renter, you may have considered buying a home, but you may be hesitant because of the financial considerations involved. Here are the key financial factors you should consider:

 

  1. Upfront Costs: One of the most important financial considerations for home buying involves upfront costs. These include expenses such as closing costs, home inspections, appraisals, and down payment. Closing costs include attorney fees, title insurance, and transfer taxes. Home inspections can uncover unforeseen repair expenses. You will also need an appraisal to ensure that you’re paying a fair price for the home. Don’t forget to factor in your down payment, which is typically around 20% of the purchase price of the home. Knowing about these expenses upfront will help you budget and prepare for the buying process.

 

  1. Monthly Bills: As a homeowner, you will be responsible for new bills that you may not have had as a renter. These bills include property taxes, insurance, maintenance, and utilities that were previously included in your rent. Property taxes can vary significantly by state and locality and can be a considerable expense. Additionally, homeowner’s insurance is typically more expensive than renter’s insurance. Ongoing maintenance, repairs, and utilities can add up, so it’s essential to be realistic about these expenses.

 

  1. Long-Term Financial Planning: As a homeowner, you’ll need to think about long-term financial planning. Owning a home can provide a sense of stability and a long-term investment, but there are also costs involved, such as future renovations or upgrades. Additionally, you’ll need to consider the resale value of the property. An essential financial consideration can be the impact of putting down roots, making it harder to relocate for job opportunities. It’s crucial to be honest with yourself about your long-term financial goals and how a home purchase fits into those plans.

 

  1. Market Conditions: Another critical financial consideration for home buying is to consider market conditions. The housing market can fluctuate rapidly, and you may end up paying more for a home than what it’s actually worth. That being said, it can still be a good financial move to buy a home during an economic downturn when lower prices and interest rates can benefit you financially in the long run.

 

  1. Closing Costs Assistance Programs: Lastly, it’s worth mentioning the financial assistance available for first-time homebuyers who need financial help with upfront costs. Many states offer closing cost assistance programs that can help you cover these expenses, making the process of homeownership more feasible.

 

  1. Financial Stability: Unexpected circumstances are an integral part of homeownership. It is essential to be financially prepared for the expenses that come with owning a home beyond the upfront costs. Seek to ensure that the home you buy is a good investment and has the potential to retain its value over time. Maintenance and repairs will be your responsibility. Remember to take your time when considering buying a home and make sure that you are financially prepared for this significant investment.

 

 

Lifestyle and Location:

 

Lifestyle and location go hand-in-hand when deciding whether to continue renting or buy a home. If you have a job that requires frequent relocations, renting may be the better option since breaking a lease is typically easier than selling a home. If you have children or are planning to start a family, buying a home in a desirable school district may be a priority. Additionally, proximity to public transportation, entertainment, and necessary amenities should be taken into account when considering which housing option is right for you. Here are a few key factors first-time homebuyers should consider before buying their first home:

  1. The Location. One of the essential factors in home buying is the location of the property. There are several aspects of location that first-time homebuyers need to consider before buying a home. For instance, you need to choose a location that meets your desired commute. The location should be near your workplace, child’s school, and other amenities you frequently use, such as grocery stores, hospitals, and recreational parks. Also, you need to consider the neighborhood’s safety, and if it’s near public transportation systems, shopping centres, or restaurants.
  2. Another crucial factor when it comes to home buying is affordability. Before buying your first home, you need to determine the budget you are working with. You need to calculate your monthly budget that you allocate for mortgage payments, utilities and other housing-related expenses. Additionally, you also need to factor in the down payment and closing costs to avoid unexpected costs during the home buying process.
  3. Your lifestyle. Your lifestyle is another critical consideration when buying your first home. You need to ensure that your new home suits your lifestyle preferences. For instance, if you love outdoor activities, you can consider buying a home within a location that offers various outdoor amenities such as parks, hiking trails, and bike paths. Alternatively, if you enjoy hosting guests, you should choose a home that has sufficient living and entertainment spaces, including a backyard, patio or deck, and additional guest rooms.
  4. Property size and type. The property size and type are also essential considerations when choosing your first home. You need to determine if you require a single-family home, townhome, or a condo. Additionally, you should choose a property size that accommodates your current and future household needs. For instance, if you plan to start a family, you need a home with enough bedrooms and space for children’s play areas.
  5. Property condition. Finally, first-time homebuyers need to assess the property’s condition before buying a home. The condition of a property often determines the cost of repairs that you may be required to undertake should you buy the property. Therefore, you need to hire a qualified home inspector to evaluate the property’s overall condition before making an offer. A home inspection report can help you understand what repairs necessary and which you can defer to a later time.

 

Home Maintenance:

 

It’s crucial to understand what you need to maintain to keep your property in good shape. Homeownership requires ongoing maintenance and repairs. Owning a home allows you the freedom to customize and improve your living space to suit your personal needs and tastes. If you’re willing to invest the time and money it takes to maintain a home’s upkeep, homeownership can be a rewarding experience. Here are the most critical home maintenance considerations for new homeowners:

  1. HVAC Systems. A properly functioning heating, ventilation, and air conditioning (HVAC) system is critical for maintaining indoor comfort and air quality. As a homeowner, you should understand the basics of how your HVAC system operates. Check the air filters monthly and change them regularly. Schedule regular HVAC maintenance with a licensed and qualified technician to keep your system operating efficiently and identify potential issues before they become costly repairs.
  2. Gutters and Downspouts. Gutters that are clogged with leaves, debris, and water can cause significant damage to a house’s foundation and roof. As a homeowner, inspect and clean the gutters and downspouts regularly. If left unchecked, clogged gutters can lead to water damage, foundation problems, and basement flooding.
  3. Electrical Systems. Your home’s electrical system is complex and vital to everyday life. Inspect your electrical outlets and wiring regularly for signs of damage and wear. Check the circuit breaker panel to see if any breakers have tripped and replace any that continuously trip. If you notice any electrical issues, hire a licensed electrician to diagnose and repair the problem.
  4. Water damage can be an expensive and time-consuming problem to fix. Regularly inspect your pipes and plumbing fixtures for any leaks, rust, or corrosion. Ensure that the drainpipes and gutters are functioning correctly and keep an eye out for any water spots or discolored walls and ceilings. If you have any concerns, consult with a licensed plumber.
  5. Roof and Windows. Your roof and windows are your home’s primary defenses against the elements, so it’s essential to maintain them. Conduct regular inspections of the roof and look for any signs of wear or damage, such as cracked or missing shingles. Clean your gutters and downspouts to prevent clogs that can lead to water damage. Inspect the windows and look for any cracks, leaks, or damage.

 

Investment Potential:

 

Buying a home can be a good investment in the long run, but it’s important to consider the potential return on investment. If you live in an area with high demand for housing or a steady increase in property values, your home’s equity could appreciate over time, providing you with a return on investment. On the other hand, if the housing market is unpredictable or the demand for housing is low, homeownership may not be the best investment.

 

Emotional Factors:

 

Your emotional state should also be taken into account when deciding whether to continue renting or buy a home. Homeownership can be incredibly rewarding as it provides a sense of stability and ownership, but it can also be stressful and lead to unexpected expenses. Renting can offer flexibility and the option to move without the burden of selling a home but can also feel transient and lack the sense of permanence that homeownership provides.

 

Conclusion:

 

When deciding whether to continue renting or to buy a home, there are many factors to consider, including financial considerations, lifestyle and location, home maintenance, investment potential, and emotional factors. Ultimately, the best decision is one that takes into account your unique personal situation and preferences. As you explore your options, carefully consider each factor and seek advice from trusted professionals, such as a financial planner or a real estate agent, to help you make an informed decision that aligns with your goals and aspirations.

 

Owning a home can provide a sense of stability and investment return but requires careful planning and budgeting. Be realistic about your budget and financial expectations, and don’t forget to factor in hidden costs beyond your mortgage. With the right mindset and approach, buying a home can be a rewarding and sound financial decision.

 

ABOUT CJ REAL ESTATE:  CJ Real Estate is a full-service brokerage helping people across Oklahoma, Arkansas, Missouri and Kansas buy and sell residential, lake, land, ranch and commercial real estate with confidence.

 

MEDIA CONTACT:

Ronn Cunningham

1.918.550.8122

Info@CJ-RE.com

 

SOURCE: Cunningham-Johnson Real Estate

Home Seller Checklist

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Home Seller Checklist

 

Selling your home is a significant milestone in anyone’s life.  Planning and preparation are key to achieving all of your goals. A comprehensive home seller checklist can help simplify the process and ease the anxiety. Check out our home seller checklist to get the most out of the market.

 

Hire a Reputable Real Estate Agent

 

Hiring a professional. Listen to their advice and make informed decisions. You’ll ease your stress, likely sell your house quicker and ensure you’re getting a fair price. Do research on the agent’s experience, customer satisfaction rates, and areas of expertise before hiring them.

 

Begin with a Pre-Listing Inspection

 

Before putting your property on listings, have a professional inspector examine your house for any potential issues. A pre-listing inspection can help you address any repairs that need to be done before listing the house on the market. Repairs and replacements can be expensive, and it is best to address these issues early on to avoid future problems.

 

Do Necessary Repairs

 

Once the inspection is done, fix all the issues that were identified, even minor ones, before listing your house. This can enhance your house’s value and make it more attractive to potential buyers. If the repairs require professional services, hire contractors, and purchase the necessary materials to get the job done.

 

Staging and Cleaning

 

Nowadays, staging your house has become a norm in the industry. Staging aims to present your house in its best possible light and allow potential buyers to imagine themselves living in the house. Once your house is staged, it’s time to clean thoroughly. A clean, uncluttered house can significantly increase its value and make a lasting impression on potential buyers.

 

Set the Right Price

 

Pricing your house correctly is crucial to attract potential buyers and sell your house fast. Research the desirability and demand for your property, and set a fair price. Your real estate agent can offer you insights into market trends in your area.

 

 

Conclusion:

 

Selling a house can be overwhelming, but having a comprehensive checklist can simplify the process. Preparing your house before listing it on the market, setting the right price, and hiring a reputable real estate agent can help you sell your house quickly and at a fair price. By following our home seller checklist, you can avoid the common pitfalls that can hinder you from getting the most out of your property sale.

 

ABOUT CJ REAL ESTATE:  CJ Real Estate is a full-service brokerage helping people across Oklahoma, Arkansas, Missouri and Kansas buy and sell residential, lake, land, ranch and commercial real estate with confidence.

 

MEDIA CONTACT:

Ronn Cunningham

1.918.550.8122

Info@CJ-RE.com

 

SOURCE: Cunningham-Johnson Real Estate