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Mortgage Rates Fall
In Freddie Mac's results of its Primary Mortgage Market Survey the 30-year fixed-rate mortgage averaged 3.79% for the week ending January 28, 2016.
A year ago at this time, the 30-year FRM averaged 3.66 percent.
The Fed stood pat this week but kept its options open for a rate increase in March. This week's housing releases confirmed the momentum of home sales going into 2016. A hesitant Fed, sub 4% | |
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mortgage rates, and strong housing fundamentals should generate a three percent increase in home sales this year. |
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Garages: Not Just For
Cars Anymore
 With larger, more luxurious kitchens now the heart of many houses, and first-floor laundry and mud rooms the new activity centers, it was only a matter of time before the garage also underwent a transformation.
Despite the fact that 82 percent of homes have garages, the space is often "the largest, most underutilized, most abused, and most often ignored room in the house," wrote Bill West in his book, Your Garagenous Zone.
Many people still struggle to find enough space amid the junk in their garage to park a car. But there's a growing desire to create cleaner, more organized spaces that can contribute to a home's "wow" factor, says West. It may not raise the price in most markets, but it helps win a beauty contest if the buyer is deciding among a few homes. | | | |
Giving Your Kitchen A
Boost When Selling
 Most experts agree it is not always cost-efficient to remodel a kitchen in anticipation of selling.
There are ways to make your kitchen sparkle before you put your home on the market.
Repair leaky faucets and remove stains from the kitchen counters and sink.
Clean the interior of your oven and dishwasher, as someone is sure to open them. Dirty appliances can convey an impression that will extend to the rest of the house.
"Before taking out walls or committing a lot of money, you have to ask, does it need a facelift or major surgery," said Jason Feldman, director of style, innovation, and design for Home Depot.
"There's no point in replacing cabinets or making structural changes if all that's needed are a few cosmetic improvements." |
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Can Home Staging Really Win Over Buyers?
 Home staging can influence buyers' perceptions of a home and even motivate them to pay more, according to the National Association of REALTORS®' Profile of Home Staging, a survey of more than 2,300 REALTORS® representing buyers and sellers.
Eighty-one percent of REALTORS® who represent buyers say that staged homes make it easier for their home buyers to visualize a property as their future home. Forty-six percent of buyer agents also reported that staging makes their buyers more willing to tour a home they viewed online, and 45% say that buyers tend to view the value of the home more positively if it is decorated to buyers' tastes.
Twenty-eight percent of agents said their buyers are even more willing to overlook other property faults if a home is staged, according to NAR's survey. Buyer agents also say that staging can potentially influence how much their buyers are willing to offer for a home. According to the survey, thirty-two percent of buyer agents surveyed say that staged homes increase the dollar value buyers are willing to offer for a home by 1% to 5%; 16% said it could increase offers by 6% to 10%.
However, not everyone chooses to stage a home in prepping it for sale. Forty-four percent of seller agents say they only suggest that sellers declutter and fix property faults, and they do not recommend that their clients should professionally stage the home. | |
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