Creating Curb Appeal

May 5, 2022

PAINTING YOUR HOME’S EXTERIOR IS A WAY TO WOW THE NEIGHBORS, WITHOUT EVER HAVING TO INVITE THEM IN

When it comes to first impressions, the paint you choose for your home’s facade matters. “Refreshing, changing, or brightening up the exterior can make a huge difference,” says Cara Woodhouse of Cara Woodhouse Interiors in Roslyn Harbor, N.Y.

It’s not just about the color; the type of paint you choose is vital. “With exterior paints, durability is key,” says Rick Watson, director of product information and technical services at Sherwin-Williams. “The best exterior paints hold color longer and resist peeling and blistering. Look for paints formulated to resist chalking, mildew, and dirt, which will save you money and time in maintenance,” he says. The company’s new Emerald Rain Refresh, has a self-cleaning technology that washes dirt away upon contact with rain or water, requiring minimal maintenance, Watson says.


But painting your home isn’t a one-and-done kind of thing. It requires upkeep, which can depend on where you live. “It’s all about the weather,” says New York City architect Kevin Lichten. “If you live on the coast of Maine or North Carolina where your house is pelted with salt spray, sand, and wind in the winter, you may need to touch up every spring and repaint every three or four years. In more mild climates, you may only need to repaint every 10 years,” he says. “And remember that the sun can be brutal.”


CUE THE COLOR


When considering the hue, your selection should be driven by the home’s character and architectural style, says Vancouver-based designer Stephanie Brown. “Generally speaking, a simple color palette of one to two colors helps modernize most homes and more complex color combinations of three or more lend themselves to more traditional homes, especially if you are trying to highlight various details and moldings,” she says.


The secret to painting your home’s exterior is more than just finding the right color; it’s finding the right color combination, says Mike Mundwiller, end user product experience manager at Benjamin Moore. “To narrow down your color choices, build an exterior palette around the elements of the house that won’t change, such as roofing materials and stone or brick components,” he says.


Color choice can also be a product of your surroundings. Sue Wadden, director of color marketing at Sherwin-Williams, recommends first looking at the colors your neighbors have chosen for their homes and avoid using those exact same shades. “Choose a color that complements—a curb appeal trick that will benefit you and your neighbors,” she says.

And look at the location. “A dark brown house with green trim would not look great near the beach, but would be very happy in the mountains or a forest,” Lichten says. “Likewise, a gray-shingled house with white trim would not fit into a wooded area but it’s happier by the ocean,” he says.

 

Grays, whites, and beiges are classics that help the siding of a house look prim and freshen up the curb appeal, Wadden says. But there are other choices too, of course. “Charcoal gray, navy, and hunter green are more popular in areas with pine trees, mountains, and sea access, while terra cotta, burlap, and rust colors dominate areas of the country in the desert,” she says.



Dark, saturated hues, such as Tricorn Black, Iron Ore, and Urbane Bronze, have been trending for exteriors in recent months, Wadden says. “Not only do these colors pair beautifully with a home’s surrounding greenery, they also help create a focal point when used on a front door or shutters.”


And you don’t even need to paint a whole house to make an impact. “Painting your front door is one of the easiest and quickest ways to boost curb appeal.” For a classic and elegant look, Wadden suggests a bold navy blue, or, for a door that really stands out, a jewel-toned blue/green or even a deep pink.

ALL THE TRIMMINGS


Trims are an important finishing touch—much like an accessory is to an outfit. “They add a layered look to your home,” Woodhouse says.

Wadden advises making sure your accent, trim, and siding colors are varied enough to discern them from each other, unless you’re purposely going for a monochromatic look.

The shades you choose can also impact how big a house feels.

To make a small house seem more substantial, Lichten suggests keeping the walls and trim the same color. “Likewise, a massive hulking house can be made lighter and more delicate with a contrasting trim,” he says.

Homes with the most curb appeal tend to have opposite hues of paint and trim, Mundwiller says. “If your home’s exterior is painted in a lighter hue, consider a trim in a darker color, and vice versa,” he suggests.


PREP TO PERFECTION



The outcome of any painting project is only as good as the preparation you put into it. Everything needs to be washed, cleaned, and sanded and any loose paint or damaged or rotten wood should be replaced before starting.

“A good primer will render the surface more uniform and, because of this, the topcoat has a better chance to adhere to the surface, which ultimately results in longer coating life expectancy,” Watson says.

Timing of the work is important, too. “Check the weather forecast. Paint dries faster in warmer temperatures, lower humidity, and when it’s sunny,” Watson says. For best performance, avoid painting in direct sun, and try for a material temperature above 35 degrees Fahrenheit, Watson says.

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Many things have changed over the past couple of years, and real estate is no exception. One impact is an increased desire to own more than one home. According to the recent Luxury Market Report from Luxury Home Marketing: “As trends such as remote working and flexi-hours took hold in 2021, so too did the flexibility of relocating as well as the growth of second homeownership .” This may be because the pandemic has altered how we think about our homes. Where we live has become, more than ever, our safe space and our getaway. And with the rise in remote work , more people are reconsidering where they want to live and buying second homes to give them greater flexibility. If you fall in that category, here are just a few of the perks you’ll enjoy, and how owning a second home may be a great decision for your lifestyle and your future. Enjoy a Change in Scenery (or Weather) When you have two homes, you can alternate between them as the weather changes or as you crave different scenery. Do you want to live in an area with a particular season? Would alternating between a resort and a suburban setting be ideal? With two homes, you have those options. Being able to move between homes based on which location best suits you at the time gives you added flexibility and variety that can help increase your happiness . Build Your Wealth Faster You may have heard that home equity is skyrocketing, thanks to ongoing home price appreciation. CoreLogic reports that the average homeowner gained $56,700 in equity over the last year. With home prices projected to continue rising, if you purchase a second home, you could benefit from rising equity on both properties to build your wealth (and your net worth) even faster. Be Closer to Loved Ones The pandemic has also reignited the importance of being near our loved ones. One option worth exploring is whether you want your second home to be near the people who matter most in your life. This makes it easier to see your loved ones but still gives you your own dedicated, private space so you can be nearby for major life events or longer visits. Lock in Your Expenses Buying a second home today and locking in your mortgage rate may be a good option if you’re looking to stabilize your housing costs for the long haul. If you’re approaching retirement or are looking to use your second home as your permanent residence in the future, buying that house now with today’s rate and price may be a good financial decision . That way, no matter what happens with rates and prices in years ahead, your monthly payment is locked in for the next 15-30 years. Bottom Line  Having multiple homes has considerable benefits. If owning a second home is something you’re interested in, let’s connect to explore your options, discuss the benefits, and take the next step to start your home search.
February 3, 2022
If you’re thinking about selling your house in 2022, you truly have a once-in-a-lifetime opportunity at your fingertips. When selling anything, you always hope for strong demand for the item coupled with a limited supply . That maximizes your leverage when you’re negotiating the sale. Home sellers are in that exact situation right now. Here’s why. Demand Is Very Strong According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), 6.18 million homes were sold in 2021. This was the largest number of home sales in 15 years. Lawrence Yun, Chief Economist for NAR, explains: “Sales for the entire year finished strong, reaching the highest annual level since 2006 . . . . With mortgage rates expected to rise in 2022, it’s likely that a portion of December buyers were intent on avoiding the inevitable rate increases.” Demand isn’t expected to weaken this year, either. In addition, the Mortgage Finance Forecast , published last week by the Mortgage Bankers’ Association (MBA), calls for existing-home sales to reach 6.4 million homes this year. Supply Is Very Limited The same sales report from NAR also reveals the months’ supply of inventory just hit the lowest number of the century. It notes: “Total housing inventory at the end of December amounted to 910,000 units, down 18% from November and down 14.2% from one year ago (1.06 million). Unsold inventory sits at a 1.8-month supply at the present sales pace, down from 2.1 months in November and from 1.9 months in December 2020.” The reality is, inventory decreases every year in December. That’s just how the typical seasonal trend goes in real estate. However, the following graph emphasizes how this December was lower than any other December going all the way back to 1999. Right Now, Sellers Have Maximum Leverage As mentioned above, when there’s strong demand for an item and a limited supply of it available, the seller has maximum leverage in the negotiation. In the case of homeowners who are thinking about selling, there may never be a better time than right now. While demand is this high and inventory is this low, you’ll have leverage in all aspects of the sale of your house. Today’s buyers know they need to be flexible negotiators that make very competitive offers , so here are a few areas that could tip in your favor when your house goes on the market: Competitive sales price Flexible closing date Potential for a leaseback to allow you more time to find a home Minimal offer contingencies Bottom Line If you’re thinking of selling your house this year, now is the optimal time to list it. Let’s connect to discuss how you can put your house on the market today.
January 6, 2022
As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. Odeta Kushi , Deputy Chief Economist, First American: “Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.” Danielle Hale , Chief Economist, realtor.com: “ Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise. And with more than 45 million millennials within the prime first-time buying ages of 26-35 heading into 2022, we expect the market to remain competitive .” Lawrence Yun , Chief Economist, National Association of Realtors (NAR): “With more housing inventory to hit the market , the intense multiple offers will start to ease. Home prices will continue to rise but at a slower pace .” George Ratiu , Manager of Economic Research, realtor.com: “We also expect a growing number of homeowners to bring properties to market , taking some pressure off high prices and offering buyers more options .” Mark Fleming , Chief Economist, First American: “ Strong demographic demand will continue to act as the wind in the housing market’s sails .” What Does This Mean for Buyers? Hope is on the horizon for 2022. You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Just remember, rising rates and prices are a great motivator for you to find the home of your dreams sooner rather than later so you can buy while today’s affordability is still in your favor. What Does This Mean for Sellers? Make no mistake – this sellers’ market will remain in 2022 as home prices are projected to continue climbing, just at a more moderate pace. Selling your house while buyer demand is so high will truly put you in the driver’s seat. But don’t wait too long. With more listings projected to become available, your ideal window of opportunity to stand out from the crowd won’t last forever. Work with an agent who knows your local market and current inventory conditions to ensure you have the support you need to make an educated and informed decision about selling in the coming year. Bottom Line If you’re thinking of buying or selling, 2022 may be your year. Let’s connect to discuss your goals and the unique opportunities you have in today’s housing market.
December 2, 2021
The game of chess can provide incredible lessons to apply to all aspects of life, including the homebuying process. Chess requires you to plan and think about your strategy from the very beginning of the game. The homebuying process, like chess, requires strategy and planning. Here are a few things to keep in mind to ensure your plan is as strong as possible when you begin your home search. Pre-Approval: the Best Opening Play To Make as a Homebuyer It’s important to have a great opening play when you’re buying a home. And the best move you can make when you begin your home search is getting pre-approved by a lender. You’ve probably already heard this is an important step, but what exactly is pre-approval and what benefits does it provide you? As Freddie Mac puts it: “The pre-approval letter from your lender tells you the maximum amount you are qualified to borrow. Getting a pre-approval letter is not a loan guarantee, it simply states how much your lender is willing to lend you. . . .” And while determining how much you can afford at the start of your search is critical, the pre-approval letter also serves another important purpose. Freddie Mac also notes: “This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.” In the game of chess, a strong opening move signals to your opponent that you’re a serious competitor. As a homebuyer, your pre-approval letter signals to the seller that you’re a serious, interested buyer. Homebuying: It’s a Team Game, Not a Single-Player Experience Every step you take to create your strategy as a buyer is important in today’s market . Why? Mortgage rates are still low, but increasing. Prices are going up. There’s a limited supply of homes for sale. These are just a few key variables in today’s market you need to be prepared for . That means leaning on expert guidance as you plan every move is more important than ever. Have a team of professionals – like your trusted real estate agent and a loan officer – every step of the way to make sure you make the right moves. Bottom Line  Getting a pre-approval letter isn’t just good strategy, it can be game-changing. It allows you to get a full understanding of what you can afford, and it signals to sellers that you’re serious. Let’s connect today to ensure you’re playing chess and being strategic during the home buying process.
November 5, 2021
With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying : “Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year.” But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to the latest Existing Home Sales Report from NAR: “From one year ago, the inventory of unsold homes decreased 13%. . . .” What Does This Mean for Sellers Today? With buyers eager to purchase but so few homes available, sellers who list their houses this fall have a tremendous advantage – also known as leverage – when negotiating with buyers. That’s because, in today’s market , buyers want three things: To be the winning bid on their dream home. To buy before rates rise To buy before prices go even higher. Your Leverage Can Help You Negotiate Your Best Terms These three buyer needs give homeowners a leg up when selling their house. You might already realize this leverage enables you to sell at a good price, but it also means you can negotiate the best terms to suit your needs. And since buyer demand is still high, there’s a good chance you’ll get offers from multiple buyers who are willing to compete for your house. When you do, look closely at the terms of each offer to find out which one has the best perks for you. If you have questions about what’s best for your situation, your trusted real estate advisor can help. They have the expertise and are skilled negotiators in all stages of the sales process. Bottom Line  Today’s buyers are motivated to purchase a home this year, and that’s great news if you’re thinking of selling. Let’s connect today to discuss how much leverage you have as a seller in today’s market.
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