Buyers Are Looking For Your Home

Buyers Are Looking For Your Home

Buyers Are Looking For Your Home [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Existing Home Sales are currently at an annual pace of 5.46 million.
  • The inventory of existing homes for sale remains below the 6 months needed for a normal market and is now at a 3.9-month supply.
  • Inventory remains low due to high demand from buyers who are still looking for a house to buy!
The Teal Deal

The Teal Deal

Teal is timeless. This worldly blue refreshes a room with instant elegance no matter the era. In this photo series, we explore home decor designed in shades of teal.

A teal front door adds a pop of color to this farmhouse entryway without overshadowing the treasure trove of antiques and heirlooms. 

This simple but stylish kitchen design combines classic cream cabinets with a bejeweled teal backsplash. The playful variety of shapes from the ogee drop tile, geometric bronze seating and varying light fixtures add further whimsy to this sleek and modern kitchen.

Cozy and rich. This bedroom is immersed in deep teal lending to a feeling of comfort. Minimalist decor and luscious finishes further warm the space.

This exquisite teal chandelier, is highlighted by dreamy velvet upholstery and clean lines. Rich hardwood floors, cast brass accents and inky bursts of deep purple convey a sense of poetic nostalgia.

It is not necessary for teal to be the main color for your room to make a bold statement. Use it in small accent and place this color throughout the room to create a cohesive connection.

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5 Fireplace Tips to Increase the Value of Your Home

5 Fireplace Tips to Increase the Value of Your Home

What’s the ultimate joy in owning your own home? Is it having a comfortable place to entertain friends and family members? Perhaps that is part of it, but another part of the joy of owning a home is watching the value of the home rise. There are countless ways to boost the value of your home, from refurbishing the roof to adding an outdoor pavilion in the backyard. One way to increase the value of a home escapes many homeowners.

It’s adding a fireplace.

Fireplaces represent a value-boosting accessory for any home. Even homeowners that live in the scorching hot desert landscape that surrounds Phoenix, Arizona benefit financially from installing a fireplace in the den and/or living room. Of course, fireplaces really start crackling when the temperature dips below zero.

Does a Fireplace Increase the Value of Your Home?

You might be skeptical that such a small space can increase the value of your home. According to a 2013 survey conducted by the National Association of Realtors, homeowners ranked a fireplace as one of the most coveted additions to their homes. The National Center for Real Estate Research released the results of a recent study showing on average that adding a fireplace boosts home values by 12%. Nearly 70% of real estate agents polled by Angieslist stated they notice home values increase whenever a fireplace is installed.

How Fireplaces Increase Home Values

We know adding a fireplace will increase the value of your home, but the question remains how fireplaces boost home values. First, fireplaces exude a luxurious lifestyle, which includes surrounding an elegantly designed fireplace with beautiful materials and accessories. Second, both a gas and natural fire fireplace generate enough warmth to decrease the cost of heating your home. Although modern technology has upgraded home heating systems, nothing beats sitting next to a roaring fire blazing within a fireplace. Finally, installing a fireplace enhances the ambiance of a home by making it much more cozy and welcoming.

5 Fireplace Tips to Increase the Value of Your Home

We have established that adding a fireplace boosts home values. We understand how that happens. Now, the time has come to reveal the five tips that help you install a fireplace that increases the value of your home.

It Starts with a Budget

The key of any successful home improvement project is to enjoy a positive return on your investment. In other words, you want the increase in the value of your home to exceed the money you put into a home improvement project. This is especially true for adding or remodeling a fireplace. Remodeling projects typically cost less, but you have to decide if budgeting less for a home improvement project will generate enough of a boost in the value of your home. Carefully budgeting for a fireplace remodeling or installation project is the first step to realize the maximum return on your investment. Make sure to compare the cost of different materials.

Location, Location, Location

Answer this question: What’s the primary reason you want to add a fireplace? Is it to warm up a room that sees little, if any sunlight? Do you want a roaring fire to greet guests the instant they enter through the front door of your home? Have you made installing a fireplace the most important improvement you want for the primary bedroom? You have to decide why you want to install a fireplace and in return, your answer will dictate where you strategically install the home value-boosting accessory. Technological advances allow you or a contractor to install a fireplace into any wall within every room of your home. If you really want to capitalize on the home value-boosting benefit of adding a fireplace, consider installing a large fireplace in the living room and then adding a second, smaller fireplace in the entertainment room.

Surround it with Elegance

Although adding a fireplace in and of itself is a home value booster, you can accomplish much more by surrounding a fireplace with elegantly designed materials. For example, you can accentuate the sparkling beauty of a brass fireplace by surrounding it with a combination of the following materials: brick, stone, concrete, and wood paneling. Think several rows of bricks directly above the fireplace, with wood trim set along both sides of the fireplace. You can make a room more charming by placing glass and metallic vases on end tables located next to the fireplace. Another item that surrounds a fireplace is flooring material, such as finely buffed teak wood or a tile mosaic consisting of several different colors.

Let There Be Light!

The most visually appealing fireplaces produce a cascade of light colors coming from the logs and reflecting off the materials used to design a fireplace. By adding mood lighting above and to the sides of your new fireplace, you can create any type of ambiance you want. Darker colored mood lighting exudes intimacy, which makes a fireplace ideal for placing in the master bedroom. Brighter mood lighting colors do a great job of generating more energy for the living room.

What about the Mantel?

As an invention from the medieval era, a fireplace mantel ensures the chimney catches all the smoke produced by a roaring fire. It is imperative to select the correct type of mantel to keep the fireplace clean and more important, safe. An improperly designed mantel can turn a potentially home value-boosting fireplace into an accessory that turns your home into a money pit. Fireplace mantels come in a number of materials that including wood, marble and cast iron. Choosing the right fireplace mantel enhances the visual appeal of any room by adding more types of colors.

Nothing beats the ambiance created by a crackling, brightly illuminated fireplace. Just make sure you spend the time required to add a fireplace that increases the value of your home.

This post originally appeared on the NapoleonFireplaces.com Blog.

Expert Advice: 3 Benefits to Owning a Home

Expert Advice: 3 Benefits to Owning a Home

Success is something often worth repeating, and Brent Sutherland, a Certified Financial Planner and Real Estate Investor, has certainly made his way in a momentum-driving direction. Here are 3 tips he shares from a recent piece in Business Insider on the benefits of owning real estate:

1. Real estate diversifies your income

“While it is certainly important to be properly diversified with your investments, it is even more important to be diversified with your income. This is because the largest financial risk for most of you is the loss of your primary source of income, which is typically in the form of a day job.”

The article highlights how having multiple sources of income, such as those derived from real estate investments, can eventually lead to relying less and less on a day job. Sound dreamy? It can be. When done well, real estate investments may eventually open up your time and the financial freedom to explore other things, like travel and other aspirations you may have for the future, particularly in the golden years of retirement.

2. Real estate produces near-immediate results

“You can achieve and feel the results almost immediately. Property improvements are visible and tangible. You can cash, spend, and invest rent payments. Today! Not 30 years in the future.”

Currently, home prices are appreciating in all price ranges, and just last week CoreLogic announced their 12-month home value projection at 5.6%, an increase from 4.5% noted earlier this summer. With that in mind, real estate today is definitely driving immediate results!

3. Passive income can help you become financially independent sooner

“If you need $40,000 a year to live, you could alternatively invest in assets that generate an 8% cash-on-cash return. This is a very reasonable assumption. And it means you would only need to save a total of $500,000 (instead of $1 million). Yet, your investments would still meet your annual household living needs.
While returns, taxes, and inflation can, of course, affect your timeline, cash-flowing real-estate is a clear asset.”

Homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you’re contributing to your net worth by increasing the equity in your home, bringing you one step closer to true financial independence.

Bottom Line

If you want to increase your savings and overall net worth, real estate is a great way to go. To learn how you can make it happen, let’s get together to discuss the process.

Who is Brent Sutherland?
Sutherland was 35 when he bought his first single home to rent out for income, less than five years later, he owns eight additional properties and part of a commercial real estate project.

Local Market Update – November 2019

Local Market Update – November 2019

A steady influx of buyers continued to strain already tight inventory throughout the area in October. Home sales were up, as were prices in much of the region. With our thriving economy and highly desirable quality of life drawing ever more people here, the supply of homes isn’t close to meeting demand. Homeowners thinking about putting their property on the market can expect strong buyer interest.

As the Eastside continues to rack up “best places” awards, it’s no surprise that the area is booming. Development is on the rise, fueled primarily by the tech sector. The appeal of the Eastside has kept home prices here the highest of any segment of King County. The median single-family home price in October was stable as compared to the same time last year, rising 1% to $900,000.

VIEW FULL EASTSIDE REPORT

King County’s 1.74 months of available inventory is far below the national average of four months. Despite the slim selection, demand in October was strong. The number of closed sales was up 5% and the number of pending sales (offers accepted but not yet closed) was up 11%. The median price of a single-family home was down 2% over a year ago to $660,000. However, some areas around the more reasonably-priced south end of the county saw double-digit price increases.

VIEW FULL KING COUNTY REPORT

Seattle home prices took their largest year-over-year jump in 12 months. The median price of a single-family home sold in October was up 3% from a year ago to $775,000, a $25,000 increase from September of this year. Seattle was recently named the third fastest-growing city in America. Real estate investment is surging. A growing population and booming economy continue to keep demand for housing –and home prices—strong.

VIEW FULL SEATTLE REPORT

Both the number of home sales and home prices were on the rise in Snohomish County in October. Overall homes sales increased 7%, and the median price of a single-family home rose 5% over a year ago to $495,000.  Supply remains very low, with just six weeks of available inventory.

VIEW FULL SNOHOMISH COUNTY REPORT

This post originally appeared on GetTheWReport.com