Weekly Events in Greenville:
June 21 – June 28
Warfield & Company at Keller Williams Greenville Upstate is a different kind of real estate agency. Rob Warfield is a 3rd generation real estate agent, ‘born and raised’ in real estate and has spent over 15 years studying the real estate market conditions to better help serve you.
We seek to know the market and to share knowledge with our buyers and sellers. Every month we publish new content that seeks to inform and educate our community. Please reach out to us if you have any questions, requests, or comments. We can better utilize this space with your input!
First impressions are everything. In the months leading up to listing your home for sale, put in a little sweat equity to create killer curb appeal. Prune the bushes, power-wash the fence and never underestimate the impact of a fresh coat of paint on the shutters, siding or doors. Replace your old mailbox and house numbers or give them a facelift with spray paint.
Preparing a home for the market is all about appealing to the masses. You may be obsessed with that bold statement wall in your master bedroom but ruby red isn’t for everyone. Use a soft, neutral hue to give the people what they want: a blank slate. Soft shades of white, beige and gray are popular picks because they appear fresh and clean. Bonus: Light, neutral paint colors create the illusion of a larger space.
Light fixtures are the jewelry of the home, so make sure yours are prepared to dazzle prospective buyers. Toss the dated flush mounts and bid adieu to the glossy brass chandelier from 1987. Replace them with pretty, Pinterest-worthy pendants like the ones pictured in this cozy kitchen.
No one wants to come home to a pet-stained carpet or dingy floor, so replace any worn-out or dated flooring throughout your home. A dark-stained hardwood will always be a beautiful choice but there are also many budget-friendly laminate options and carpets that will make a huge impact. Prioritize high-traffic entertaining spaces such as the living room or kitchen when allotting your flooring budget.
If you haven’t already removed that unsightly popcorn ceiling, make it a priority before putting your home on the market. We know nobody wants to spend their Saturday afternoon scraping the ceiling, but tSo roll up your sleeves and remove it yourself so that there’s one less “daunting project” that could deter potential buyers from making an offer.
If your bathroom tile has seen better days (like in the 1970s) put in some sweat equity and replace them with a set of crisp, white tiles. The classic subway tiles in this airy, white and gray bathroom give the space a bright and clean appearance that buyers would love to call their own.
Enhance your home by installing crown molding and baseboards throughout. This simple, subtle touch yields huge impact because it adds a polished touch that gives a space a high-end look.
Give your bathrooms a facelift in one afternoon by swapping out old faucets, replacing mirrors and installing new cabinet hardware. Replacing these accents will give your bathrooms a modern boost that will turn buyers’ heads. Pro tip: Select classic finishes like nickel or brushed brass for an upgrade that will last them years.
Freshen your foyer by ripping up that grimy and dated stair runner and replacing it with a few coats of paint. (How striking is this inky staircase?!) Ripping out the old carpet and painting the stairs black or white will provide the new owners a clean canvas that they can easily manipulate to reflect their personal style.
Selling your home doesn′t just mean hiring a realtor to stick a sign out front. There are a lot of preparations you should make to ensure you get the best offer possible in the shortest time.
Repair. Just because you’ve gotten used to the cracks in the walls and the rattles in the radiators doesn’t mean a buyer will too. If you have hardwood floors that need refinishing, be sure to get it done—hardwood is a huge selling point. Buyers like to snoop around, so be sure to fix any sticky doors or drawers as well. Finally, don’t forget to address any issues with the exterior—fences, shingles, sidewalks, etc. After all, without curb appeal, some buyers may never get to see the inside.
Neutralize. You want buyers to see themselves in your home. If your living room has lime green shag, wood-paneled walls, and all your collectibles and personal photographs, this will be much harder for them to do. Try replacing any bold color choices in your floors and walls with something more neutral—beiges, tans, and whites. Repainting and reflooring will make everything look fresh and new, and help prospective buyers imagine all the possibilities.
Stage. Once your house is clean and updated, it’s time to play dress up. Home stagers can add small details and décor touches that will bring out the possibilities in the various spaces in your home: lamps, mirrors, throw rugs and pillows, flowers, decorative soaps and towels, patio furniture. Home staging can be particularly useful if your home is especially old or if the exterior looks dated. Think of it as a little mascara and rouge—if it’s done right, you notice the beauty, not the makeup.
According to a recent study by Zillow, owning a home is more affordable than renting in most metro markets across the United States.According to the study, renters pay an average of 29.1% of their household income towards rent, while homeowners only pay an average of 15.4% towards their mortgages. This means renting eats up nearly twice as much of your income as owning a home.
Data Source: Zillow
Thanks to rising rents, homeownership is becoming a more sensible option across the nation, and renters are taking notice. According to the National Association of Realtors' Realtors Confidence® Index, 39% of homebuyers from October 2016 to November 2017 were renting at the time of their purchase, which means that 39% of buyers made the transition from renter to homeowner. And many of them did so without breaking the bank on a down payment. In fact, 61% of first-time buyers made a down payment of 6% or less.
If you're currently renting, it's time to reevaluate your situation. Why throw away nearly 30% of your income on rent when you can spend almost half as much and have a home to show for it?
Thanks to the timing of the 2008 financial crisis, millennials have a reputation as a generation that's laden with financial struggle. And while it definitely took some time for this younger generation (millennials are considered anyone 36 years or younger) to recover, if you're judging by the real estate data, it's safe to say that in 2018, millennials are doing just fine.According to the National Association of Realtors® Home Buyer and Seller Generational Trends Report, in 2017, millennials made up the largest share of homebuyers on the market at 34%, putting them well ahead of Gen Xers (28%) and Baby Boomers (Younger Boomers, aged 52 to 61, came in at 16%, while Older Boomers, aged 62 to 70, made up 14%).Out of that 34% of millennial buyers, 66% were buying a home for the first time, meaning more millennials are making the transition from the outrageously expensive rental market to a more long-term investment of owning a home.What's the reason for so many millennial buyers flooding the market?For one, renting has become so expensive, buying a home is often times the more affordable choice (according to a recent report from Zillow, renting is more expensive than owning in the majority of the US' major metro areas). And with a variety of non-traditional lending options on the market that require little or no down payment, buying a home is becoming more and more accessible for younger buyers.
If you're a millennial thinking about buying a home, it's time to make the move: if 34% of the market is made up of buyers just like you, owning a home is probably more within your reach than you ever thought possible.
Ideally, you want to list your home during a time when you can get the highest price for your property. And if you've been thinking about selling, here's some news for you—that time is now.The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which measures home prices in multiple markets across the country, rose a whopping 6.5% from March 2017 to March 2018 (the most recent data available).What does that mean for you? If your home was valued at $250,000 just a year ago, that same home is worth $266,250 today—an increase of $16,250. And the higher the price tag on your home, the more you stand to gain. Homes priced at $375,000 one year ago saw a gain of $22,500, while homes priced at $500,000 gained an impressive $32,500 in value.
If you've been thinking about selling, take advantage of the rising home prices and list your home. These dramatic increases won't last forever, and most experts predict most markets will cool off later in the year, making now the perfect time to sell.
There's no denying it: Homes that are staged well definitely stand out. Not only does the right amount of decluttering, organizing and accessorizing make your home more attractive, it can actually increase its value.According to the National Association of Realtors' 2017 Profile of Home Staging Report, about one third of buyers' agents believe their clients are willing to offer one percent to five percent more for staged homes. What's more, 77 percent of agents said home staging made it easier for buyers to visualize the property as their future home.If that's not enough to convince you, take a look at these before-and-after photos to really illustrate how powerful home staging can be.
1. Cool kitchen
Attractive barstools and place settings make you want to sit right down for lunch! The hardware upgrade on the cabinets makes a big difference too.
2. Dining room do-over
A fresh coat of paint and right-sized furniture create an appetizing room that's welcoming without being over-the-top.
3. Room with a view
A living room can go from sad to sophisticated with the help of the right furnishings and accessories. Who could focus on a stunning view with flimsy outdoor chairs in the way?
4. The personal touch
Homeowners are often advised to keep their rooms neutral and remove many of their personal effects. That being said, note that a few well-placed items on the countertops of a kitchen can make it look that much more enticing. Think about a cluster of matching canisters, a matching soap set and tea towel, a cake stand or cookbook. I like to find inspiration on Pinterest.
5. The beauty of decluttered space
Organizing and decluttering go hand-in-hand with home staging. It's hard to envision yourself in a space if you can't see past the clutter. Make sure you allow the highlights and features of the home to be seen.
6. Updated decor
Many consumers have a hard time envisioning themselves in a space if the decor is too distinctive or distracting. Keeping items current and appealing to all is a way to attract as many buyers as possible.
7. Bedrooms don't need to be bold
While you may love the idea of an extreme shade, not everyone wants to wake up to dramatic hues. In addition to lightening the wall color, moving the bed away from the window enhances the view.
8. Brighter bathroom
Nothing makes a bathroom sparkle like clean, cream-colored walls. Fresh-flowers, white hand towels, and an elegant soap dispenser take this bathroom from drab to eye-catching without any remodeling required..
9. Gorgeous guest room
Update your guest space with a few new accent pillows on the bed and a throw blanket at the foot of the bed. Even the addition of a nice display of magazines on a 'tv' tray or guest towels can make a space seem more luxurious. That being said, no amount of ambiance will translate if the photos aren't taken with the right lighting and at the right angle.
10. Wall art adds a wow factor
The right wall hangings can take a room from comfortable to curated with minimal effort.
11. Less is more
Home stagers will often suggest placing some of your items in a storage unit to make your rooms appear more open and spacious. This is such a smart idea.
12. Accent on color
The walls can stay neutral but adding a pop of color through accent pieces like throw pillows and well-placed chairs pull a room together. Use the rule of three or a triangle. Your accent color should pop in three places and draw the eye across/around the room.
13. Let there be light.
An attic bedroom can go from dim and dreary to quaint and cozy with the addition of a nightstand and table lamp. Not enough can be said for the right lighting. Chose a lamp to overhead lighting any day.
14. Empty just isn't as appealing
Even if an empty room looks great on its own, showing buyers how to show off the space is inspiring.
15. Every detail counts
In case you needed any additional convincing that home staging makes an enormous difference, this montage of makeovers should do the trick.
Moving from a small town or suburb to a large city can be an intimidating proposition. Here are a few tips to help make your move as painless as possible.
Research before you move. It’s important to understand the culture you’re joining. Do research online and find out about school systems, neighborhoods, parking, weather, public transportation, and laws that are native to that area. If you can, visit a city before moving and connect with someone who’s lived there before.
Have a plan. There are a lot of steps to go through before you start packing the moving truck. Find housing before you leave, or at least know where you’ll stay while you look for a home. Never sign a lease on an apartment that you haven’t seen. If you can’t get there, find a friend or an employer to check for you. Have a job waiting for you, or if that’s not possible, know what you’ll do for money in the first few weeks of living there. Try to line up things like driver’s licenses, car insurance, renter’s insurance, and parking passes ahead of time as well.
Get involved. Meeting people in a big city can be daunting. Don’t expect the neighbors to knock your door down with a casserole when you arrive: city life is often too noisy and hectic. Take the initiative. If there are things you liked to do in your town, find ways to do those things in the city. Try new things. Volunteer. Big cities offer so many opportunities to engage other people, so find what you like.
Mind your wallet. City life is expensive. Everything costs more: food, insurance, clothes, rent. There are also a lot more ways to get ripped off, whether legally or criminally. Be careful how you spend, and know where your money is going.
As the events of the last few years in the real estate industry show, people forget about the tremendous financial responsibility of purchasing a home at their peril. Here are a few tips for dealing with the dollar signs so that you can take down that “for sale” sign on your new home.
Get pre-approved. Sub-primes may be history, but you’ll probably still be shown homes you can’t actually afford. By getting pre-approved as a buyer, you can save yourself the grief of looking at houses you can't afford. You can also put yourself in a better position to make a serious offer when you do find the right house. Unlike pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history. By doing a thorough analysis of your actual spending power, you’ll be less likely to get in over your head.
Choose your mortgage carefully.Used to be the emphasis when it came to mortgages was on paying them off as soon as possible. Today, the debt the average person will accumulate due to credit cards, student loans, etc. means it’s better to opt for the 30-year mortgage instead of the 15-year. This way, you have a lower monthly payment, with the option of paying an additional principal when money is good. Additionally, when picking a mortgage, you usually have the option of paying additional points (a portion of the interest that you pay at closing) in exchange for a lower interest rate. If you plan to stay in the house for a long time—and given the current real estate market, you should—taking the points will save you money.
Do your homework before bidding. Before you make an offer on a home, do some research on the sales trends of similar homes in the neighborhood with sites like Zillow. Consider especially sales of similar homes in the last three months. For instance, if homes have recently sold for 5 percent less than the asking price, your opening bid should probably be about 8 to 10 percent lower than what the seller is asking.