Watch this video for a quick summary of Warren County real estate for April 2019. Charts demonstrate the changes in the market, so be sure to click play!
In general summary:
- Closed sales are UP by 18% compared to this time last year
- Average Median Sold $250,000.
- Average Days on Market 84.
*If you would like a copy of this report emailed to you, please send request to Jennifer@nexthomerealtyselect.com.
Resource: 2019 Market Stats by ShowingTime
MRIS: Statistics calculated May 2019
Jennifer Avery, Realtor for NextHome Realty Select
BPOR, SRS, CNE, E-Pro Certified | Licensed in VA
email@example.com | 540-683-0790
210 E Main Street, Front Royal VA
How to use ‘Living Coral’ in your home
With summer here, the time of year is just right for decorating with Pantone’s color of the year, Living Coral. This pink-orange hue is bold, vivacious and perfectly suited to the season’s most festive occasions. Here are a few ideas for using it in your home.
• As an accent. A little Living Coral goes a long way. Add one or two throw pillows for a pop of color that screams summer. For a bolder look, paint a dresser or upholster a chair.
• On your walls. A splash of this color can brighten up a windowless room or create an energizing environment for a nursery or playroom. If you’re reluctant to use it for an entire room, consider painting just one wall.
• Outside. Does your front door need a makeover? Then give it a fresh coat of paint. Living Coral makes a big impact and will increase your home’s curb appeal.
No matter how you use it, this lively shade is sure to brighten your home.
Cigarette smoke impacts your home’s resale value
Did you know that smoking is not only bad for your health but that it can also decrease your home’s resale value?
Studies show that smoking cigarettes inside your home seriously affects your property’s worth. In a 2013 study by Pfizer Canada, 88 percent of the approximately 400 real estate agents surveyed said that it’s more difficult to sell a home where smokers live. Nearly half said that smoking affects a home’s resale value, and about one-third said that it lowers a property’s value by as much as 29 percent.
The damage caused by cigarette smoke can discourage potential buyers from purchasing your home and lead appraisers to devalue your property. Residue from the smoke stains walls, floors and ceilings, and the smell is extremely difficult — and costly — to get rid of.
Not only are the grime and smell unappealing to buyers, but third-hand smoke (the residue from second-hand smoke containing nicotine and other harmful chemicals) is carcinogenic and can remain lodged in dust and on surfaces for more than two months after smokers have moved out. Exposure to third-hand smoke can be harmful for your health and is especially dangerous for children.
If you’re a smoker and a homeowner, think twice before lighting up inside; the habit may be hurting not only your health but also the market value of your home.
Should you hire a general contractor?
If you’re planning a major renovation or you want to build a new home, you should consider hiring a general contractor (GC) to manage the project. If you do, the GC will be responsible for supplying materials and equipment. They’ll also oversee the hiring of specialized subcontractors such as plumbers, electricians and carpenters. Plus, they’ll take care of administrative tasks like obtaining the proper permits, acquiring the requisite insurance and paying subcontractors.
While managing the project on your own may seem doable, a contractor has the experience and resources to execute the work more efficiently. Most GCs have a short list of professionals they’ve worked with before and trust, saving you the guesswork of finding the right person for each job. And, because they’re licensed pros, they can get materials for your project at discounted prices only offered to those in the industry.
Managing a renovation or construction project is a full-time job that requires experience in order to do it well. If you aren’t able to take time off from work, or if you don’t have experience in project management, you may run into problems. But by hiring a general contractor, you’ll be sure that your construction project gets completed properly and on time.
5 signs it’s time to replace your siding
Siding is one of the most important parts of your home’s exterior. Not only does it protect the structure from the elements, it also showcases your house’s style. While you may wish your siding would last forever, it will eventually need to be replaced. Here are a few signs you need new siding.
1. Visible damage. Numerous things can damage siding including dirt, the weather and moisture. If only a few panels are affected, you might be able to replace them. But if the damage is widespread, you’ll need to replace the whole thing.
2. Peeling paint indoors. If you have water damage on your interior walls, it might mean that your siding is no longer effectively keeping moisture out of your home.
3. Your bills have increased. Siding plays a big part in insulating your home. If you notice a drastic change in your bills, your siding may have an air leak. In this scenario, your heating and cooling system works extra hard to regulate your home’s temperature, which ultimately results in costlier utility bills.
4. Mold or mildew. Fungus or mold in or near the seams of your siding may indicate water infiltration.
5. It looks faded and old. Replacing your siding can drastically increase your home’s curb appeal. Among home renovations, new siding has one of the highest returns on investment.
When it’s time to replace your siding, be sure to take action sooner rather than later. The longer you wait, the more likely it becomes that other parts of your home will get damaged as a result of having deteriorated siding.
By replacing your siding when necessary, you’re protecting your home and increasing its value at the same time.
Pre-approved versus pre-qualified: what’s the difference?
While the terms pre-qualified and pre-approved are sometimes used interchangeably, they in fact refer to two different things. Here’s an overview of the differences between a mortgage pre-qualification and a mortgage pre-approval.
To get pre-qualified for a mortgage, a lender needs to evaluate your financial situation — including your income, assets and debts — to determine how much you can afford to borrow. It can usually be done for no cost, often over the phone or the internet.
The pre-qualification stage allows you to discuss different mortgage options with your lender and get a sense of your price range. However, the pre-qualified amount is just a rough estimate of how much you might be approved for.
Getting pre-approved for a mortgage is a more involved process. You’ll need to fill out an official mortgage application and supply the lender with the necessary information to thoroughly evaluate your financial history and credit score. This process allows the lender to tell you the mortgage amount for which you’ll be approved. You may also be able to lock in an interest rate.
When you get pre-approved, your lender will provide you with a letter explaining the loan you’re eligible for. Being pre-approved for a mortgage shows sellers you’re a serious contender when making offers.
Keep in mind that even after you’ve been pre-approved, you’re still not guaranteed to receive a loan. Once you’ve found the house you wish to buy, your lender will need to evaluate you and the property in question before committing to a loan amount and interest rate.
The truth about pets abandoned on moving day
It’s a sad truth that every year countless dogs and cats are abandoned by their human companions. Frequently this happens as the result of a move, and in particular, when a person’s new residence doesn’t allow animals.
Abandoning dogs and cats is illegal in most states. Nevertheless, many domestic pets are cast-off, either by releasing them into the wild or putting them out on the street. Unfortunately, starvation, and ultimately death, is the fate that typically awaits them.
Pets in shelters
According to the Humane Society of the United States, there are six to eight million dogs and cats that enter shelters each year. The organization approximates that about three million of these animals are euthanized, despite the fact that around 80 percent of them are fit for adoption.
But even pets that aren’t euthanized may face difficulties. Both dogs and cats tend to form strong bonds with their owners, and when this bond is severed, they’re likely to experience a great deal of stress and sadness. It isn’t uncommon for animals in shelters to be depressed to the point of refusing to eat.
What you can do
If you’re in the process of looking for a new home, make sure you find a place that accommodates your pet. And if you want to welcome a dog or cat into your new home, consider adopting one from your local animal shelter.