What the “Experts” Are Saying About the Impact of Rising Interest Rates

Ask Connie: Your Real Estate Pro

real estate quotesIt’s no secret that interest rates are climbing steadily – or in some cases, even appearing to skyrocket.

What impact will this trend have on the nicely-recovering real estate market? Will it cause recent enthusiasm to die down as prospective Buyers decide they can’t afford a mortgage after all?

Below are some interesting comments from market experts giving their perspective on how rising interest rates might impact the real estate market as we move forward.

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Don’t leave money on the table, 5 things to consider before listing your home.

MoneyTable

Home values–  Unless you want to gamble with the possibility of losing a significant amount of money, you must find out your home’s true value in relation to the current market.  Just as you would love to sell your home there are people who would love to buy it, however you will soon learn that it all comes down to the numbers! If the price is too low, you will leave money on the table, too high and the house doesn’t sell. To ensure that you are getting the most value throughout the transaction be sure to avoid the mistake of looking for your homes value on county tax appraisals, Truila, or Zillow. So how do you figure out what your home is worth?  A real estate agent can provide you with comparable properties that have recently sold, as well as, market trends relating to your home and area.  These are the only two things that determine the price for…

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5 Home Improvements Worth the Cost

The Parsons Group, LLC

Some home improvements have better resale value than others. Here are some of the best home improvements from Norada Real Estate Investments:

Kitchen

People spend a lot of time in the kitchen, so upgrades in that area are both visible and valuable. It’s not just aesthetics. A kitchen has many working parts, like a refrigerator with a water and ice dispenser, a built-in microwave and a double oven. But it doesn’t have to be an all-or-nothing deal. If your counter top is scratched and stained, but the cabinets are still in good shape, just replace the counter top, and maybe add new cabinet hardware. And new appliances by themselves add both utility and sparkle to your kitchen. Rule of thumb: Expect to recoup about three quarters of the cost of a kitchen remodel when you resell your house.

Bathroom

People like big, expansive bathrooms, so any fix-up that adds…

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Better lead generation: 3 tips

MM and Associates | Blog

building-blocks

This is part three of Digital Mind Shift. Also read part one and part two.

The first two articles in this series were designed to wet your whistle with respect to online lead generation. I offered statistical trends to demonstrate the potential that exists for real estate companies. As a result, I’ve been getting lots of messages from people asking for a common-sense outline to start catching more fish (see part two to read the fish analogy).

For those seeking to take online lead generation seriously, consider the following process and fundamentals to start building a strategy:

aware

Awareness: Boy meets girl

For any relationship to begin, two people must first become aware of each other. It might take place at a grocery store or the local coffee shop. Regardless of how it happens, each will have to enter the mental radar of the other. The same is true when…

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Buff Up Those Floors so it is a Selling Point That Shines

MM and Associates | Blog

Wood floors (like people) look best with regular TLC. Aside from daily cleaning, sensitive wood floors require occasional in-depth maintenance that goes beyond a sweep or vacuum. Think of tired professionals and run-down moms. What do you do to revive their dull pallor? You send them to the spa to experience the health benefits of a massage, exfoliating body wrap, or facial. Then, voila – spa-goers come home revived!

To maintain a healthy glow, a hardwood floor has its own menu of spa treatments that must be followed regularly. For starters, after they’ve been in use for some years, wood floors needs to be sanded and finished afterwards by a protective sealer that will give them a natural sheen. Other wood floors may require patching in spots that undergo intense damage. Some wood floor owners also choose to have their wood floors stained to change their color.

But a “screen…

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Don’t Forget the ‘Windshield Effect’ When Protecting Your Listing

MM and Associates | Blog

Most sellers concentrate on getting the inside of their homes ready for visiting buyers. While this is, of course important many miss the most important moment in the presentation of their home: The so-called “windshield effect.”

By the time buyers enter a home they already formed opinions. They already have emotional imprints and reactions. The property, including your seller’s “stuff” spread around the outside of the home, gives them clues about the sellers and, most importantly, their motivation for sale.

I always tell my client sellers: Daily living and presenting a home are two very different experiences. We are all bound by our habits. However, a buyer sees a home for the first time with fresh eyes and as a visitor.

Have your seller ask themselves these five questions:

• What story does your home tell a visitor right now? What story do your home want it to tell?

• When you…

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Mortgage Rate Trends: Where We’ve Been and Where We’re Going

The Parsons Group, LLC

In 2012, the housing market got a boost from the long-term stability of mortgage rates. The Federal Reserve’s stimulus measures helped keep borrowing costs near record lows for much of last year, and through the first few months of 2012.

Low rates helped bring home buyers off the sidelines and into the market, driving home prices north across much of the country.

But mortgage rate trends shifted significantly in May 2013. That’s when Federal Reserve officials met for one of their Federal Open Market Committee (FOMC) meeting.

These meetings are a regular occurrence, taking place eight times a year. But the event that took place on May 1 sent waves through the stock market and the broader economy. That was when Fed officials said they could begin winding down their bond-buying stimulus program known as quantitative easing.

Shortly after that seemingly innocuous statement, the 10-year Treasury yield rose sharply. Mortgage…

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