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Selling to Millennial Homebuyers

by Desi Sowers

Generation Y, better known as millennials are buying homes. In fact, per the National Association of Realtors’ 2017 study of generational housing trends, millennials (those born between 1980-2000) make up the largest portion of the buyer market at 34%. That being said, when selling your home, it would be wise to think about the wants and needs of millennials as potential buyers.  Here are 7 must-haves for selling a home to millennials:

  • Updated kitchens and baths –  young homebuyers have been saving for a down payment and budgeted for mortgage payments, but they want move-in ready homes.  Updating kitchens and baths are expensive, so unless they are specifically looking for a fixer upper, they are going to want these rooms in particular to already be updated.
  • Location, location, location - millennials are not only facing higher gas prices, but they are more environmentally conscious.  They are looking for homes in areas that have easy access to public transportation and a good walk score.
  • Great Rooms – there was a time when a formal dining room was on every buyer’s wish list. But this generation of buyers prefers a great room with combined kitchen and living space.  And because of how younger homeowners entertain, they prefer an open floor plan for easier flow throughout the house.
  • Home office – millennials make up a huge portion of our work force. Working from home has risen in popularity by 80% over the past ten years.  So, having a home office is definitely a must for most young buyers.  Even if you have a room staged as a bedroom, it would be prudent for your agent to point out that it could be used as a home office.
  • Low maintenance – young buyers want low maintenance homes.  Things like wood floors and granite countertops appeal to them because they are both attractive and easy to take care of.  Smaller yards are their preference as well. They want to spend their free time relaxing or traveling, not doing yardwork and cleaning.
  • Technology – this generation life without the internet and cell phones.  Good service is vital to them.  Many millennials don’t even use a landline.  You may not be able to control the strength of cell service at your home, but you can be sure that young buyers will be asking about it.
  • Energy efficiency – With a growing interest in protecting the environment, younger buyers look to buy "green homes".  While energy efficiency is not the top reason to purchase a house, it can certainly be an advantage when dealing with millennial buyers.

If you are a millennial looking to buy a home in the New River Valley, let Desi Sowers help you find the perfect home to suit your needs and desires.  Call her today at (540) 320-1328!

http://www.desisowers.com/Blog/Welcome-to-the-New-River-Valley

http://www.desisowers.com/Blog/Help-for-First-Time-Homebuyers

http://www.desisowers.com/Blog/To-Renovate-or-Not-to-Renovate-Should-You-Fix-Up-Your-Home-or-Sell-it-As-Is

Decluttering 101

by Desi Sowers

Having a cluttered house makes life more challenging than it has to be.  The emotional toll of clutter can be surprisingly draining.  Take these steps to declutter your house and before you know it you will start to experience the positive effects of a clutter-free life!

  1. Stop the flow of stuff coming in. Some people have a rule that if you buy something, you must get rid of something. That is all fine and well if your house isn’t already cluttered.  But, if you have too much stuff you are going to need to get rid of things and NOT replace them with other things.
     
  2. Declutter at least one item a day. You don’t have to do it all at once.  You likely feel overwhelmed by the thought of trying to declutter.  Take it one small step at a time.  Some days you might get a lot accomplished, others you may not. But try to declutter at least one item a day. 
     
  3. Declutter the easy stuff first.  If there are things that you know are going to be difficult to part with, don’t start with them.  Start with the easiest things.  Ease your way into the process. 
     
  4. Have a disposal plan in place. Do your research. Find out where you can donate or sell items.  After all, your trash might be someone else’s treasure. Websites like Freecycle and Ebay, as well as local thrift stores, are good disposal options.
     
  5. Decide not to keep things out of guilt or obligation. If you love it, keep it. If you use it, keep it.  But if it is meaningless to you and simply taking up space, get rid of it!
     
  6. Don’t be afraid to let go.  If you are hanging on to something because you might use it someday, don’t.  Be realistic.  If you haven’t used it in years, chances are you will never use it.  Let. It. Go.
     
  7. Only declutter what is yours.  All family members should participate and go through their own belongings to decide what to keep and what to dispose of.
     
  8. Do not waste your life on clutter! Clutter drains your energy.  It’s a physical manifestation of chaos that can often make you feel like you are not in control.  Take that first step and start enjoying life without clutter!

http://www.desisowers.com/Blog/Autumn-Home-Maintenance-Must-Do-List

http://www.desisowers.com/Blog/Lunch-Logistics-Organizing-Your-Kitchen-for-Back-to-School-Lunches

http://www.desisowers.com/Blog/Packing-it-Up-and-Moving-it-Out

Debunking the 20% Down Payment Myth

by Desi Sowers

You are ready to purchase your first house.  Your credit score is great.  You know you can afford a monthly mortgage payment based on your budget.  You are sure you will be approved for a mortgage loan.  But that down payment!  How the heck are you supposed to come up with 20%?  Don’t despair, because the truth is, you don’t need a 20% down payment to purchase a house!

Saving for a down payment on a house can seem overwhelming for many people.  Keep in mind that it can come from various sources.  Funds can come from bank accounts, stocks or mutual funds, an inheritance or a gift from a family member.  Some people will even use assets from their retirement portfolio.  Requirements regarding where the money comes from for your down payment depend on the loan type. Also, purchasing a primary residence usually requires a lower down payment than if you are purchasing a second home or buying an investment property.

The myth about down payments is that 20% is the norm. While that may have been true in the past, it’s not anymore.  The fact is that in 2016, the average down payment was just 11%, per the National Association of Realtors.  Unfortunately, a lot of people don’t even consider buying a home because they still think they need 20% down.  The NAR 2017 Aspiring Home Buyers Profile found that 39% of non-owners believed they needed more than 20% for a down payment, while 26% thought they needed to put down 15-20%.  Not true!

So now that you know you don’t have to have 20%, perhaps buying a home seems more within reach.  But there are still some things you should be aware of before taking that first step toward homeownership. Various factors are at play in determining if you should take on a mortgage with lower down payment.  For example, the less you put down, the larger your mortgage payment will be each month.  That is because you will have a larger loan amount, possibly a higher mortgage interest rate and the added cost of mortgage insurance.  So, while you don’t have to come up with more cash, your monthly costs go up.

Once you have educated yourself about the requirements, you can make informed decisions about your budget and how much you can afford.  Don’t let the 20% down payment myth stop you from pursuing your dream of home ownership! 

 

http://www.desisowers.com/Blog/Help-for-First-Time-Homebuyers

http://www.desisowers.com/Blog/Buying-a-Home-is-a-Sound-Financial-Investment

http://www.desisowers.com/Blog/The-Top-Ten-Things-to-Look-for-When-House-Hunting

Majestic Fall Flowers

by Desi Sowers

If you’re lucky enough to live near the mountains in VA, you know that fall foliage provides a natural, extraordinary backdrop of color during the autumn months.  But if you would like to add some of the glorious autumn colors to your home’s landscaping, now is the time to start planning and planting.  Whether you are partial to yellows and golds, burnt oranges and rusts, or deep reds and burgundies (or if you like to mix it up with a variety of hues), there is something for everyone when it comes to fall flowers.  Here are some favorites:

Chrysanthemums -  These popular flowers come in a variety of sizes. With seasonal, festive shades of yellow, red and orange they provide a perfect backdrop for all your outdoor fall décor.  Learn how to plant and grow chrysanthemums here.

Pansies - Found in just about every shade of the rainbow, these versatile flowers create a majestic ground cover and look equally amazing in hanging baskets.  If planted in fall, pansies can last up to eight months, so you definitely get your money’s worth of beauty with these hardy plants!

Celosia - These lovelies are durable and easy to care for.  They provide bright yellow, warm orange, crimson red, and rich burgundy accents to your container gardens.  You can also add celosia to your landscape beds and borders.  Their flame-like plumes add a whimsical look to any fall garden.

Croton - An ideal plant for autumn, this plant has brilliant shades of red, orange, yellow and purple.  It works as a houseplant in cold-weather regions or as a shrub in frost-free areas.  It also can be grown outdoors as an annual. Be on the lookout for different varieties to find the best crotons to complement your fall garden.

Black-Eyed Susan - These golden-yellow stunners bring to mind happy daisies.  Bees and butterflies love them and they brighten up any landscape or container garden. Learn how to plant and care for black-eyed Susan and create a blanket of color for fall!

Helenium - Also known as “sneezeweed” (don’t worry, it doesn’t make you sneeze…the name comes from when they used to make snuff out of their dried leaves) they look like small, copper hued coneflowers.  They can grow quite tall and add a burst of warm cheer to your fall garden.  Get planting and maintenance tips for Helenium here.

Take advantage of what’s left of late summer and start your fall garden while the days are still longer and the temperatures are still mild.  Before you know it, you will be enjoying the glory of Autumn!

http://www.desisowers.com/Blog/Autumn-Home-Maintenance-Must-Do-List

http://www.desisowers.com/Blog/Ten-Décor-Trends-to-Avoid-in-2017

http://www.desisowers.com/Blog/Creative-raised-bed-and-planter-gardening

 

Investing in Real Estate - Tips for Success

by Desi Sowers

Real estate investing can be a great way to make money.  But to be successful at it, you need to do your homework first and make sure you know what you’re getting yourself into.  Here are some tips to help you get started:

  • Choose an experienced real estate agent .  Finding the right agent is critical to successfully capitalize on real estate investments.  You want to find someone who has the knowledge to make the process easier for you.  They should have awareness of location, value and return on investment.
  • Location, location, location!  Research what areas are declining and which ones are on the rise before deciding where to purchase an investment property.  If large retailers such as Lowe’s or Home Depot are setting up shop there, it’s probably a good place to invest because big chains do a lot of research before moving in.
  • If you plan to invest with a partner, make sure you have a partnership agreement drawn up to protect all parties in case something happens.  Relationships can sour and expensive mistakes can happen. Making early decision about how to handle bad situations will help prevent catastrophic results.
  • Be prepared to invest for the long term.  When you hold onto a property for a long time, you can manage expenses and income easier and use the money to pay the mortgage.
  • Be picky about renters.  If you are going to rent to students or rent rooms to different people verses to a family, you may need special permits, depending on where you live. Educate yourself about rules and regulations for renting out your property.
  • If you have more than three properties you’re renting out, you would benefit from hiring an experienced property manager. It can be overwhelming when you are trying to take care of multiple homes (including your own!). A property manager will handle repairs and minor problems for tenants. They will help find new tenants as well.  Just keep in mind that property managers usually get around 10% of the monthly rent.

Being a landlord isn’t always easy.  But with the right investment, it can be very rewarding!

Contact Desi Sowers for all your New River Valley real estate needs.

 

http://www.desisowers.com/Blog/Selling-Your-House-or-Renting-It-Out-Pros-and-Cons

http://www.desisowers.com/Blog/Help-for-First-Time-Homebuyers

http://www.desisowers.com/Blog/Buying-a-Home-is-a-Sound-Financial-Investment

Welcome to the New River Valley!

by Desi Sowers

As a new resident of this beautiful area, you have probably been so busy unpacking and getting yourself situated that you haven’t had time to really take it all in.  I want you to feel at home in your new community, so here are a few tips for getting to know the wonderful people and places in the New River Valley:

MEETING YOUR NEIGHBORS:

Often people don’t want to intrude when they see you are busy unpacking and setting up house.  But there are a lot of ways you can still meet your neighbors:

  • Take a walk around the neighborhood.  Chances are others will be out strolling with kids and pets.  Pets are fabulous ice-breakers!  Don’t hesitate to say hi and introduce yourself.
  • Join the neighborhood civic league and attend meetings.  If there is a home owners’ association, become an active participant.  Not only will you hear lots of good information at meetings, but you will find about fun activities that are happening.
  • Once you are settled, take some treats to your immediate neighbors thanking them for accommodating your moving truck. Include a note introducing your family. 
  • See if your neighborhood has a social media page and join if they do.

GETTING TO KNOW YOUR HOMETOWN

Take some time to explore your new surroundings. There is so much to see and do here!

  • Play tourist for a day.  Check out local travel guides and city websites to see what’s going on in your new town.
  • If you are a stay at home Mom, check out Moms' Groups; an excellent way to meet other Moms!
  • Join your University alumni association.  These groups offer you the chance to socialize locally while maintaining a connection with your college.
  • Check out social media for local groups, book clubs, meet ups and community events.
  • Join the YMCA or Community Recreation Center and meet people while staying in shape!

If you have any questions, feel free to contact me at (540) 320-1328.  As a resident of the New River Valley, I am happy to welcome you home!

 

http://www.desisowers.com/Blog/Moving-Day-Survival-Kit

http://www.desisowers.com/Blog/The-Perks-of-Retiring-in-a-College-Town

http://www.desisowers.com/Blog/The-Upside-to-Downsizing

Packing it Up and Moving it Out!

by Desi Sowers

Let’s face it, no matter how prepared you think you are, moving is stressful .  One of the worst parts of moving is packing up your current house.  You are probably busy enough already, and now you are adding this huge task to your “to do” list.  It can be overwhelming.  One way to make it a little easier is to spread it out over several weeks instead of trying to do it all right before you move.  Here is a general timeline for packing that you can use as a guide. 

FOUR WEEKS BEFORE MOVING DAY: PRE-PACKING - If you are lucky enough to know a full month before you have to move, take advantage of it.  Pre-pack items that you won’t need or use before you move.  Out of season clothing, tools and small appliances, and collectibles/knick knacks are items that you won’t miss and you can get them out of the way.

THREE WEEKS BEFORE MOVING DAY: NON-ESSENTIALS - Among the items that you didn’t pre-pack, choose those that you know you likely won’t need before moving.  Books, extra linens, and kitchen items can be packed up because you likely won’t be doing much reading, and you only need enough linens, plates, and utensils for the number of people living in the home.  CDs and DVDs can go as well.

TWO WEEKS BEFORE MOVING DAY: TIME TO GET SERIOUS - Yes…now it is time to really start paring down the amount of “stuff” still in your home. If you have children,  allow them to choose a few toys/games to keep out, and pack up the rest.  If you have a home office, clean it out and box up what you plan to take with you.  Jewelry and shoes that you don’t wear daily can go as well.  You may feel that two weeks is a long time to go without these items, but trust me, it will go by fast!

ONE WEEK BEFORE MOVING DAY: SEVEN DAYS AND COUNTING: Now it is time to pack up all but the few things you will need to get through the last few days at your current home.  The rest of your clothes and kitchen items can go (leaving yourself what you will need until the move, of course).  Go through your medicine cabinet and toss any expired medications. Pack the rest except for the ones you take daily.

TWO DAYS BEFORE MOVING DAY: NOW IT’S GETTING REAL: At this point the stress might reach maximum levels, but if you have been following the time-line and packing a bit each week, you should be almost finished!  Box up your electronics (in their original packaging when possible), bathroom items, and any miscellaneous items that are left.  Keep a box for essential items that you will keep with you as you are moving.

MOVING DAY: IT’S HERE! All that should be left is furniture and appliances.  Whether you have hired movers to load the large items or you are doing it yourself, it will be so much more manageable with everything else already boxed up and ready to go.

IMPORTANT TIP: Label every box.  You can either write what is in the box or what room the box should go to.  Or both.  You will be glad you did when you are unpacking!

Remember that this is simply a general guideline.  You should do what is right for you and your family when it comes to packing and moving. But hopefully this will make what can be a trying and overwhelming time a little more pleasant.

 

http://www.desisowers.com/Blog/Moving-Day-Survival-Kit

http://www.desisowers.com/Blog/The-Top-Ten-Things-to-Look-for-When-House-Hunting

http://www.desisowers.com/Blog/The-Upside-to-Downsizing

What Women Want - She Sheds!

by Desi Sowers

The she shed trend has arrived and it looks like it’s here to stay. And really, what took so long?  Men have had their “caves” for years.  Women should have their own space to get away and unwind too!  Whether a she shed is used for relaxation and contemplation, watching chick flicks, or as a space for hobbies, it is a long overdue oasis for hardworking women who deserve a peaceful space to call their own.  If you’re ready to create your own she shed, here are some ideas for you:

If you already have a backyard shed, you are going to need to clean it out.  Completely.  You will want a blank slate for designing your perfect environment.  Find new storage options for the items you are keeping and give away the rest.  If you don’t have a shed, you can build one with an  easy-to-build kit purchased online or from a local home improvement store.

Show off your one-of-kind sense of style by giving your she shed a fresh coat of paint.  Choose colors that you love.  Do you want a rustic look, or do you dream of a storybook cottage?    The ideas for designing your personal retreat are endless.  Remember, it’s all about YOU!

Think about what you want the purpose of your shed to be.  Will you use it as a peaceful sanctuary where you can curl up with a good book?  Perhaps you might set up an easel and use it as your art studio.  Whatever your intent, be sure to keep it in mind while coming up with your design. 

You don’t have to spend a lot of money to furnish and decorate your she shed.  Search antique stores and flea markets for unique pieces.  The idea is to make it feel relaxed and cozy.  You might already have everything you need, but just needed a special place for it all. 

Choose a spot in the yard that takes you away from your day to day grind and makes you feel surrounded by nature.  Lush plants and window boxes full of flowers will give you a tranquil ambiance that will provide the calm environment needed for quiet serenity.

The most important thing is to make your she shed a reflection of yourself.  And remember…it’s a woman’s prerogative to change her mind, so as your interests and hobbies shift, your shed can transform with you and always be there to fulfill your needs and desires.

 

http://www.desisowers.com/Blog/Heavenly-Homes-Churches-Converted-to-Residential-Living-Spaces

http://www.desisowers.com/Blog/Ten-Décor-Trends-to-Avoid-in-2017

http://www.desisowers.com/Blog/Bedand-Breakfast

Help for First Time Homebuyers

by Desi Sowers

Are you ready to buy your first home, but worried you won’t be able to come up with the cash required for a down payment?  Don’t fret my friends!  There is help out there for you.  The Virginia Housing Development Authority (VHDA) has a down payment assistance program (DPA) in the form of a grant, and it just might be the best shot for a first-time homebuyer.  The DPA grant can provide eligible first-time homebuyers with the funds needed for their down payment.  If you qualify for the DPA program, you may receive a percentage of the purchase price to help with the down payment. You can check out the guidelines and requirements for your eligibility here.  Here is more information to help you determine if this program is right for you:

  • Maximum grant will be 3 - 3.5% of the purchase price, based on the down payment required for the eligible VHDA loan.
  • Buyers must have household incomes at or below program limits.
  • Down Payment Assistance Grant may be used with eligible VHDA loans only.
  • Grant funds may NOT be used in combination with other down payment assistance resources (including FHA Plus).
  • Down Payment Assistance Grant has no repayment.
  • VHDA’s eligible first mortgage must be locked on or after the program implementation date.
  • The eligible first mortgage must be locked prior to reserving the grant funds.
  • All borrowers receiving this grant are eligible for a Mortgage Credit Certificate (MCC). Borrowers must apply for an MCC through an approved MCC lender and receive an MCC commitment/approval prior to closing.  (And MCC is a dollar-for-dollar credit against your federal income tax liability. 
  • Other program requirements may apply.

A video tutorial is available to help you with the process of understanding and applying for the DPA Program.

Desi Sowers can also help you understand how you CAN afford to purchase your first home!  Give her a call at (540) 320-1328 and start your search for your first home today!

 

http://www.desisowers.com/Blog/Buying-a-Home-is-a-Sound-Financial-Investment

http://www.desisowers.com/Blog/Negotiation-101

http://www.desisowers.com/Blog/The-Top-Ten-Things-to-Look-for-When-House-Hunting

Buying a Home is a Sound Financial Investment!

by Desi Sowers

Trulia recently reported that buying is cheaper than renting in 100 of the largest metro regions by an average of 33.1%.   Surely this makes you stop and think, “why am I paying someone else’s mortgage when I could be a homeowner myself?”  Being a homeowner allows you to build long-term wealth because it is like a forced savings account.  By paying down your mortgage, you are building equity and basically paying yourself.  So, before signing another rental lease, take a look at some other benefits of owning a home:

  • Mortgage payments can be fixed while rents go up.
  • Equity in your home can provide future financial resources.
  • You can build wealth without paying capital gains.
  • You can become a landlord yourself and not only pay your mortgage but possibly make a profit.
  • You have the freedom to make a home your own with renovations and décor.
  • You can take advantage of tax breaks..
  • You will build closer ties to your community
  • Over the long run you will have greater net worth than if you were a renter.

With current mortgage interest rates still low, now is a great time to consider buying a home.  I can help you better understand your options and why owning is better than renting.  Contact me at (540) 320 - 1328 or at Desi Sowers and we can start your home search today!

Displaying blog entries 1-10 of 25

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