First Comes Love… Then Comes Mortgage?

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First Comes Love… Then Comes Mortgage? | MyKCM

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.

Here is the breakdown of all first-time homebuyers in 2016 by percentage of all buyers, income, and age:

First Comes Love… Then Comes Mortgage? | MyKCM

Proof of Purchase

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Proof of Purchase

People who experience a property loss are usually asked by their insurance company for proof of purchase which can come in the form of a receipt or current inventory of their personal belongings.

receipts or inventory.png

Even the most organized people might find it challenging to find receipts for all the valuables in their home. If the inventory isn’t up-to-date, a homeowner might forget to add some items to the claim and may not recognize the omission for long after the claim is settled.

The inventory can serve as a guide to make sure a homeowner gets compensated for all the loss.

Photographs and videos can be adequate proof that the items belonged to the insured. A series of pictures of the different rooms, closets, cabinets and drawers are helpful. When video is used, consider commenting as it is shot and be sure to go slow enough and close enough to things becoming recorded.

For your convenience, download a Home Inventory, complete it, and save a copy off premise. Good places for your inventory could be a safety deposit box or digitally, in the cloud if you have server-based storage available like Dropbox

Real Estate with Joann Samelko

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5 Myths About Real Estate Reality TV Explained

5 Myths About Real Estate Reality TV

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there… watching entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” “Property Brothers,” and so many more, just in one sitting.

When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.

Reality TV Show Myths vs. Real Life:

Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.

Truth: There may be buyers who fall in love and buy the first home they see, but according to the National Association of Realtors the average homebuyer tours 10 homes as a part of their search. 

Myth #2: The houses the buyers are touring are still for sale.

Truth: The reality is being staged for TV. Many of the homes being shown are already sold and are off the market. 

Myth #3: The buyers haven’t made a purchase decision yet.

Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy. 

Myth #4: If you list your home for sale, it will ALWAYS sell at the Open House.

Truth: Of course this would be great! Open houses are important to guarantee the most exposure to buyers in your area, but are only a PIECE of the overall marketing of your home. Just realize that many homes are sold during regular listing appointments as well.

Myth #5: Homeowners make a decision about selling their home after a 5-minute conversation.

Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their homes and move on with their lives/goals.

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The top 20 home design trends of 2017

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Wanted to share this article from Inman News _

What sellers and stagers should know about the trends ahead.

  • 2017’s home design trends are all about creating lush spaces by taking traditional designs and making them modern with unique color, texture and material choices.
  • As far as color, experts suggest grays with warm beige undertones for living rooms and kitchens, and bold reds and rich caramels for bedrooms.
  • When it comes to remodeling, homeowners are favoring upgrades that make day-to-day life more convenient and luxurious.
As the new year approaches, everyone is looking for ways to improve their lives — whether it’s shedding a few pounds, taking on a new hobby or completely revamping their living space for renewed inspiration.

Take note: The next year’s home trends call for lush colors, plush textures and modernistic takes on traditional designs that make the perfect environment to create a “new you.” (Or for staging a buyer’s new home!)

Although it may not be advisable to incorporate all these trends into a home you’re trying to sell, HomeAdvisor Chief Economist Brad Hunter says Realtors can use the following trends to help buyers imagine how a potential new home could look.

“Ideas for changing color schemes, updating countertops and undertaking more significant remodels can be mentioned while showing the home, depending upon the body language and comments the shopper is making,” said Hunter.

Furthermore, he noted that 2017’s trending renovations, such as “human docking stations” and “shedquarters” — along with upgrades, such as new appliances, countertops and cabinets — can help a home get sold quickly and at a higher price. Score!

Traditional kitchens with a twist

1. Built-in bars

Bring the party home with a sleek built-in bar.

The trend, which is a twist on 2016’s bar cart trend, is the perfect addition for homeowners who love to entertain. The bars add instant pizzazz to an otherwise traditional kitchen, plus offer built-in shelving for cocktail fixings, drinks, glasses and everything you’ll need for a ritzy night in.

2. Contrasting islands

Is a built-in bar a little over-the-top for you? Then a colorful island is a simple substitute that offers extra room for mixing drinks and whipping up tasty snacks for family and friends.

The key to nailing this trend and making it modern is choosing a contrasting color. Have a kitchen with a lot of warm hues? Choose an island in a cool shade, as seen in the photo below.

3. Colored island plus colored fridge

Feeling colorful? Add a 1950s-style fridge in a vibrant hue to your kitchen.

4. Hexagonal tile backsplash

It might have been “hip to be square” in 2016, but 2017’s tile designs are all about experimenting with other geometric shapes — namely, hexagons. Go for a cool, monochromatic look as seen below, or choose a few complementary colors for a punchy focal point.

5. White and wood kitchens

If complex geometric shapes and bright colors aren’t your cup of tea, embrace a simple style with white accessories and wood countertops for a modern twist on country chic.

Photographee.eu / Shutterstock.com

6. Wall of tile in kitchen

See a pattern here? Clearly, 2017’s kitchen style heavily relies on tile to create focal points and direct the overall vibe of a kitchen.

Homeowners who think a backsplash isn’t enough are covering their kitchens with full floor-to-ceiling and wall-to-wall tiles.

7. Marble surfaces

Is tile simply not for you? If so, opt for marble in shades of white and light gray for countertops, flooring, tabletops and home accessories, such as serving platters and vases.

In living color

8. Go Greenery

Recently, Pantone released its 2017 color of the year, Greenery.

Greenery is bright, lush and perfect for homeowners who want to bring the outdoors indoors. But Real Estate Staging Association CEO Shell Brodnax says sellers would be wiser to stick with neutral colors, such as grays with beige undertones.

9. Opt for Shadow or Poised Taupe

Brodnax favors Benjamin Moore’s color of the year, Shadow 2117-30, and Sherwin Williams’ color, Poised Taupe SW 6039, both of which are neutral tones that add understated warmth to a room.

10. Beige is in

If gray is a little too dim, consider using a palette of beige-based neutrals to create a warm and cozy atmosphere.

11. Don’t forget the color!

With all these neutral tones taking stage in 2017, it’s important to add pops of color to keep your space from looking “blah.”

Designers and homeowners alike are favoring saturated jewel tones (such as emerald green and sapphire blue) in artwork, furniture and other home accessories.

12. Velvet aboveground

Another way to add color and texture to a space is with a velvet statement piece. Designers are adding the lush fabric on sofas, throw pillows and even curtains for a sultry look.

In the bath

13. You’re so vain

Vanities are making a comeback, and instead of reaching for pre-manufactured designs, homeowners are getting crafty by using chests of drawers, old file cabinets and vintage consoles to make one-of-a-kind pieces.

Photo by Louise de Miranda – More industrial bathroom ideas

14. Black steel (and glass)

Take your shower to the next level with black steel and glass doors. The result is an understated chic space that allows plenty of natural light to come through.

Photo by Adrienne DeRosa – Discover contemporary bathroom design ideas

Playful bedrooms

15. They hang brightly

Instead of table lamps, consider hanging pendant lights in the bedroom to create a whimsical style. This option works especially well in small rooms where there’s no space for nightstands (or where you want to use your nightstand space for something besides a lamp).

16. Time for romance

While neutral tones will be popular for living rooms, kitchens and bathrooms, warm, romantic colors will rule bedrooms.

According to Houzz, colors like raspberry pink, deep ruby red, caramel and even black are the perfect shades to make a room that Cupid will want to stay in all year long.

Let me upgrade you

HomeAdvisor Chief Economist Brad Hunter says 2017 will be about lifestyle renovation projects that make day-to-day life convenient and more luxurious.

“The kinds of projects that were deferred during the recession, and for several years after the recession ended [will be popular],” says Hunter.

“People decided back then to be very judicious with their money, and so they put off some of the enhancements.”

17. Multi-room remodels
Hunter expects to see more multi-room remodels and other major remodels. People waited until their home’s value was well above previous levels before embarking on lofty projects.

18. Human docking stations

Hunter says that since Wi-Fi allows homeowners to work anyplace within the home, there’s less of a need for a home office.

He notes there does have to be a place to store printers, file cabinets and so on, but in 2017 homeowners will opt for “docking stations” made out of a small equipment cabinet with a drop-down or pull-out desk surface to tackle quick tasks.

19. Garage remodels

Garages are notoriously misused as storage spaces, some with barely enough room for a car.

Hunter says garages can be put to use by converting them into mother-in-law suites or as a guest room for family and friends.

20. Shedquarters

“The term ‘shedquarters’ has been used to refer to a small structure that is on the property, but outside the house, often utilized for home-based businesses,” says Hunter.

“This is a spinoff of the ‘tiny house’ movement, and one that will see more interest in the next couple of years. We expect to see more of these planned for ‘flex’ or ‘hybrid’ use, such as [an] office/party room.”

All listed trends were sourced from Zillow, Houzz, HomeAdvisor and RESA.

Email Marian McPherson