St. Patrick's Day Fun
Happy St. Patrick's Day from Windermere Tower Properties!
Here at Windermere Tower Properties we are all for a good mix of work, having fun & success! This year we threw a St. Patrick's Day Irish Party here at the office which included Irish themed trivia, Gold toss, corned beef sandwiches and green libations & more!
We had a blast!
Housing Market Expected To “Spring Forward” This Year
Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by arctic temperatures and conditions.
That hasn’t happened this year.
Demand for housing has remained strong as mortgage rates have remained near historic lows. Even with the recent increase in rates, buyers are still able to lock in an affordable monthly payment. Many more buyers are jumping off the fence and into the market to secure a lower rate.
The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2017 all fell in April, May, or June.
Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.
If you are planning on selling your home in 2018, meet with a local real estate professional to evaluate the opportunities in your market.
Getting Pre-Approved Should Always Be Your First Step
In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.
Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing if your dream home is within your reach.
Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:
“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”
One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”
Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:
- Capacity: Your current and future ability to make your payments
- Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
- Collateral: The home, or type of home, that you would like to purchase
- Credit: Your history of paying bills and other debts on time
Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.
Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.
Source: Keeping Current Matters
10 Things To Do Before Placing Your House on the Market
Many homebuyers are also sellers who need to place their current property up for sale in order to move into a different home. If you fall into that category, here are ten jobs to tackle before listing your home for sale.
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Remove ALL Non-Essential Items - You are getting ready to sell your house and move your stuff... ALL your stuff. It makes sense to eliminate as much as possible now. After all, it will be much easier to stage your home (storage spaces, for instance, should be less than half full during showings). You'll also have less stuff to pack up and move later.
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Let the Light Shine - Clean your windows, eliminate heavy/dark drapery and window treatments, and change out all the light bulbs for the highest wattage recommended for each fixture. Do this inside, outside and in storage areas. The lighter and more "airy" your home seems, the more space it will appear to have and the more attractive it will be to potential buyers.
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Fix Things Throughout the House - Scratch off every small repair job you can find (a running toilet, a leaky faucet, a closet door thats jumped track, the doorbell that never worked, torn screens, etc.) Also look for small but important cosmetic updates 9new light switch plates, fresh tub/shower grout, a brand new welcome mat, etc.) Touch up the interior paint where needed and replace worn or outdated cabinet pulls/towel rods/hardware in the kitchen and baths. These small weekend fixes make a big difference and will pay for themselves, while massive renovations and makeovers may not.
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De-Personalize Everything - Envision a show room or luxury hotel executive suite and remove anything you wouldn't find in one of these locations. If it's a personal "statement," it probably needs to go. This includes collections, knick-knacks, and too-full shelves. People want to imagine THEIR stuff in your house. If your stuff is consuming all the space, it's much harder for buyers to see themselves living there. It's an important first step toward "Sold!"
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Tend the Yard- First impressions are made at the curb. Add a few flowers (preferably potted in beautiful containers) and remove anything that's not essential in your front, back and side yards. If you have a mailbox, now may be the time to replace it with a shiny new model. Paint fences, remove dead branches from trees, pull weeds, repair and edge sidewalks and driveways.
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Pull Together Paperwork - Before you start packing things, pull out all your owner's manuals, warranty information, and even purchase receipts on any appliances, renovations, etc. Create a notebook of these items to hand over to the new buyer and to easily answer potential buyers' questions. Also create a folder (that you'll keep) containing the last year of utility bills, so it's easy to answer those questions too.
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Get a Pre-Sale Home Inspection - Investing in a pre-sale inspection will help you know the potential problem areas of your home before you start showing it. You may want to remedy those issues, but even if you don't, you can avoid being surprised with big expenses after accepting a sales contract.
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Get Written Estimates - If you know that something in the home needs to be replaced (the roof or HVAC system, for instance), get a few replacement estimates. Even if you aren't going to have the work done, you won't run the risk of knocking $20,000 off your selling price, during negotiations, for a $9,000 repair.
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Interview Real Estate Agents - Before you are ready to put your house on the market, begin researching and interviewing potential listing agents. This will include asking local co-workers and family members who have sold their house who they would recommend-and why. Do your own online research to see which agents do the best job of advertising and marketing their listings.
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Release Emotional Attachments to the House - Completing each of these steps (especially de-personalizing your home) will help you view your current house as a cherished place in life's journey, while also recognizing that your memories will be carried forward into new places. Detaching yourself emotionally from this major financial transaction will make negotiations much easier and a successful sale happen much faster.
First Comes Love, Then Comes....Mortgage?
Love and marriage is the traditional pairing, but now there’s a step in between for many couples: a mortgage. While marriage may come eventually for unmarried couples who buy a home together, for many millennials (those aged 18-34), down payments have taken precedence over heading down the aisle.
According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2016 at 58% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable.
But, many couples are also deciding to buy a home before spending what would be a down payment on a wedding, as unmarried couples made up 14% of all first-time buyers last year.
If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2016, while single men accounted for 8% of buyers. One recent article pointed to a sense of responsibility and commitment that drives many single women to want to own their home, rather than rent.
Make this Valentine's Day stand out with buying your dream home!
Is This the Year to Move Up to Your Dream Home? If So, Do It Early!
If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. It usually means good news for the housing market when the country sees an optimistic future. People begin to dream again about the home their family has always wanted, and some make plans to finally make that dream come true.
The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are a few reasons why considering now is better than later:
Demand is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong! Buyers are ready, willing and able to purchase! Take advantage of the buyer activity currently in the market.
There is Less Competition
Housing inventory is under the 6-month supply that is needed for a normal housing market. This simply means there are not enough homes for sale to satisfy the number of buyers in the market.
There Will Never be a Better Time to Move up to Luxury
Now is the time to move up into premium or luxury home! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. Prices are projected to appreciate by just about 5% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
Only you know the answers to the questions above. You have the power to take control, making the decision of putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire!
Making the decision to sell your home represents a big change in your life - emotions, fond memories, and excitement about the future all come together - at a time when thinking clearly is of the utmost importance. You need a team of high integrity who will guide you through each step of the process.
If you are feeling good about your family’s economic future and are considering making a move to your dream home, doing it sooner rather than later makes the most sense.
New Year's Resolutions - I Want to Buy a Home!
It’s a New Year – which means, everyone has a long list of New Years Resolutions. Whether it be wanting to travel across the world, wanting to save more money, wanting to lose weight, you name it, its probably on someones list. Every year, we make our resolutions; Career Resolutions, Personal Resolutions, Health Resolutions. The best way to reach a goal is by writing them out, re-reading them throughout the year, and making them attainable and within reach.
Is your goal to buy a home in 2017?
If so, we would highly recommend getting started NOW versus waiting. Why now? January and February tend to be months when more homes are going on the market with more people wanting to make that big move going into the new year! Get started on your home hunt now!
First Step: Get Pre-Approved
Before you start looking for your dream home, you need to know what’s actually within your price range. Most buyers spend hours perusing homes on Zillow, Realtor.com, Redfin, and online resources. Some, even go out and tour homes, yet, they have not been pre-approved. We highly recommend – Talk to a local lender. This is the most important step in the initial home search. Get Approved. NOT Pre-Qualified. Getting pre-qualified, simply gives you an estimate of how much a lender may be willing to lend based on your income and debts. But as you get closer to buying a home, it’s smart to get a pre-approval, where the lender thoroughly examines your finances and confirms in writing how much it’s willing to lend you and at what terms.
Second Step: Make a List (Wants/Needs)
Searching for a home can be exciting. But deciding what you truly want and need—and can afford—can be challenging. Making these decisions begins with setting priorities among many different preferences. Our agent's can play a key role in helping you sort out your options and can also offer important insights specific to your local market.
First and Foremost you need to ask yourself - What is important to YOU in a Home? Everyone has different needs/and wants. What may be important to you is completely different than your spouse.
What we recommend is that clients make a Needs/Wants List. Write it down, what is important to YOU in a Home? Location, Price, Style, Size, etc. For some it may look something like this:
1. Price – Home under $400K
2. Size – 1500+ Sq. Ft.,
3. Min. 3 Bedroom
4. Detached Garage
5. Living Room off of Kitchen
6. 5 miles or less from the nearest freeway, shopping mall, schools
Third Step: Start the Search!
When you have taken the proper steps in getting pre-approved and getting the financing in order, the hunt for your perfect home is the fun part!
What happens after you find the home, is a whole separate article.
Ready to get started on your 2017 New Years Resolution of Buying a Home?
We would love to help you.
Interior Design Trends of 2018
2017 was all about hygge, a Danish state of living that loosely translate to “coziness.” Both interior décor and lifestyle way of living. This trend won’t completely disappear in 2018, as we see the coziness appear in more neutral, earthy tones, fresh plants and earthy colors.
Here’s our list of 10 home styles that will be trending in 2018:
1. Neutral, Earthy Tones
Earthy tones, such as browns, tans, and grays for neutral-colored walls and furniture will add an on-trend, natural vibe to your space providing an extra sense of warmth and coziness to any room.
2. Gallery Wall
A gallery wall is the perfect way to spruce up any room, whether it’s to show off your adorable family photos or collection of mirrors and paintings. Especially in an entrance way, a gallery wall offers a great visual as you walk through the door.
3. Pop of Green
Calming greens such as emerald and olive project a welcoming aura to anyone entering the room especially when mixed with warm, neutral tones. Whether this be a wall color, natural fresh plants in any room!
4. Retro Furniture
Retro is back, replacing last season’s modern style. Try refreshing the old furniture you have in storage, or hauling out those garage-sale buys that didn’t quite fit last year’s style.
5. Fresh Plants
A simple addition of plants can definitely elevate a room. Not only are they good for you, but they are pretty too. Anything from a cute little succulent to a flower bouquet can provide a sense of freshness to your space.
6. Natural Lighting
Natural lighting is one of the best ways to add the illusion of space to any room. Larger windows and lighter shades bring nature’s light into your room and open up your space.
7. Open Storage Space
Open-concept and open-space living formats are a win-win. The days of struggling to find closet space may be over. Hanging hats on walls or putting jackets on a hook not only provide convenience, but also lend a bit of chicness to your decor.
8. Dark Wood
Dark wood has been a trend for some time now but we will see it being one of the top modern interior design trends of 2018. Delicious chocolate brown tones give a touch of warmth and richness to any room. And dark wood isn’t just for beautiful floors, it’s gorgeous and sleek on cabinets doors and walls, too.
9. Herringbone Pattern
Using a directional herringbone pattern to add dimension to your room is a great trend if you are considering re-doing your floors or walls. We love a good herringbone pattern seen in flooring or even in back splash in the kitchen. The pattern can really add a classic, yet modern element to any space.
10. Bookish Chic
The old school library alone-time vibe is making a comeback in 2018. Whether they are existing reading space in rooms, or hanging on the walls like artwork, books and paper can be used for any decor.
What do you think of these trends? Would you try any of them out in your home?
Let us know in the comments!
2017 in Review - Here's to a Wonderful 2018!
As 2017 comes to a close, we're reflecting on how lucky we are to have shared the year with you during each exciting new chapter in your lives! Nearly 600 families we have had the opportunity in working with this year! To our clients, thank you for trusting us, for your referrals and for the opportunity to serve you! We truly appreciate your support and trust in Windermere Tower Properties!
If 2018 is YOUR year to buy your dream home, to purchase an investment property or buy your first home - we would love the opportunity to help you!
Wishing you a happy new year, and a great year ahead!
Sincerely,
Windermere Tower Properties
Riverside at a Glance: Humble Beginnings and Huge Returns
Riverside past and present
In 1870, John North and a group of Easterners set out to establish a colony they could dedicate to furthering education and culture. What they found was land once belonging to a Spanish rancho along side the Santa Anna River. From then on, that land became known as Riverside.
Riverside has provided a list of firsts for Southern California since its beginnings. Investors from Canada and England incorporated traditions and activities resulting in the first golf course and polo field being built in the area. But, perhaps the most important event was in 1871 when the first orange trees were planted foreshadowing the blossoming wealth that was soon to come.
Eliza Tibbets- an early American settler among the founders of Riverside, CA
In 1873, Eliza Tibbets received two Brazilian navel orange trees from a friend working for the Department of Agriculture in Washington. Due to the climate in Southern California, the trees flourished and the citrus industry took off at rapid speed.
"Within a few years, the successful cultivation of the newly discovered navel orange led to a California Gold Rush of a different kind: the establishment of the citrus industry, which is commemorated in the landscapes and exhibits of the California Citrus State Historic Park and the restored packing houses in the Downtown's Marketplace district. By 1882, there were more more than half a million citrus trees in California, almost half of which were in Riverside. The development of refrigerated railroad cars and innovative irrigation systems established Riverside as the wealthiest city per capita by 1895." - Riverside, CA Gov
Picture of Frank Augustus Miller
As the city grew, so did the amount of visitors. Captain Christopher Columbus Miller, Riverside resident as 1874, built what was first known as the Glenwood Tavern to capitalize on the fortune. Years later Christopher's son, Frank Miller whom had a lasting passion for arts and culture, took over the tavern and expanded it into what is now known as The Mission Inn Hotel and Spa.
The Mission Inn Hotel and Spa aerial view
"Over the years he [Frank Miller] embellished and expanded it into a unique resort known all over the world. It has played host to numerous movie stars, musicians and heads of state. Ronald and Nancy Reagan honeymooned there, and Richard and Pat Nixon were married on its grounds. Teddy Roosevelt planted a tree in its courtyard, and a special chair, built for President William Howard Taft when he visited, is still in the Inn's collection." - Riverside, CA Gov
Downtown Riverside, California
Today, Riverside is known as The City of Arts and Innovation due to the dedication those first settlers put into their vision and the continued progress from everyone then on. In the midst of all the hustle and bustle in this city, cultures from all around the world feel welcomed and at home. When you take a step back, you will come to realize that it's more than just a city here- it's a community.
