Thursday, October 21, 2021 / by Flr Team
When supply is low and demand is high, prices naturally rise. That is exactly what’s happening in today’s housing market. Home prices are appreciating at near-historic rates, and that’s creating some challenges when it comes to home appraisals.
In the last couple of months, it has become increasingly common for an appraisal to come in below contract price on the home. Why is that?
With the heightened buyer demand, purchasers are often willing to pay over asking to secure their dream home. If you ever toured a home and have fallen in love with it, you understand. Once you start to picture yourself and your furniture in the rooms, you want to do everything you can to land the property, including putting in a high offer to try to beat out other potential buyers.
When the appraiser comes through, they look at the home a bit more objectively. Their job is to assess the inherent value of the home to make sure the lender isn’t lending more mo; ...
Thursday, October 14, 2021 / by Flr Team
Did you know that the bathroom is one of the most-used rooms in your home? If your bathroom feels dated or has seen better days, you are not alone! The heavy wear and tear with constant changing trends in bathroom design means your bathroom should be at the top of your reno list. Rather than planning to sell your home in a couple of months or years from now, upgrade your bathroom and it can lead you to a higher list price with a lot more interested buyers.
How Much Does a Bathroom Remodel Cost?
When it comes to remodeling your bathroom, there is no set cost. The more you spend, the bigger the changes. Small changes, like new light fixtures, faucets, and a fresh coat of paint all come with a relatively low-price tag while making a big impact on the room. If your budget allows for more of a drastic change, you can invest in some flooring, cabinetry, possible tub and tilework. Set your desired budget at the beginning and then you can determine which projects to tackle th; ...
Wednesday, October 6, 2021 / by Flr Team
The rising rental costs may make it seem impossible to prepare for homeownership if you’re a renter. But the truth is, there are ways you can prepare to purchase your first home. Here is some expert advice on what you can do to learn more about how to escape the rising costs of rentals.
Start Saving Now
Set aside what you can, even if it is small amounts. Putting some money into a dedicated savings account is a great starting point when it comes to saving for a down payment.
Assess Your Finances and Work On Your Credit
Take a look at your overall finances and credit score. Find ways to reduce debt. If you’re not sure what your credit score is, there are numerous online tools that can help you check. If your score is below the average, don’t fret. Remember that the average credit score means there are homeowners with credit scores above and below the threshold.
If you find out your score is below the average, there are ways you can im; ...
Thursday, September 30, 2021 / by Flr Team
Hurricane season is still upon us. Are you prepared? Here are some helpful tips to enforce safety and preparation for future storms:
Let’s start with the most important thing on the list, food! You will want to get a water supply for about 3-7 days, canned food, a manual can-opener, non-perishables for 3-7 days, paper plates, cups and plasticware in case you lose electricity.
Another thing on your list should be supplies. This would include the following items:
Candles and matches
First Aid Kit
Grill and Charcoal
Solar Powered Walkway Lights
Last but certainly not least, you should make sure you do the following for your safety:
Put up storm shutters
Fill gas tanks
Fill propane tanks
Have cash on hand
Fill bathtub with water
Charge all electronics
Remove patio furniture
Bring trash into the garage
Turn A/C and fridge temp down
Freeze water in gallon jugs and lea; ...
Thursday, September 23, 2021 / by Flr Team
There are many non-financial benefits of buying your own home. However, today’s headlines seem to be focusing primarily on the financial aspects of homeownership- specifically affordability. Many articles are making the claim that it’s not affordable to buy a home in today’s market, however, that is not the case.
It’s Not That Homes Are Unaffordable - It’s That They’re Less Affordable
Since home prices are rising, it is true that homes are less affordable. To paint the full picture, you have to look at how today stacks up the historical data. A closer analysis of affordability going further back in time reveals that homes today are actually more affordable than any time from 1975 to 2005.
Despite that, the chatter about affordability is pushing some buyers to the sidelines making them feel uncomfortable knowing the owners got a better deal a year ago.
However, Are Homes Really Less Affordable If We Consider Equity?