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Kelly Morrison | Take Advantage of Your Home Equity: A Homeowner’s Blog

Tuesday, August 1, 2023   /   by Kelly Morrison

7 Common Homebuyer Regrets (And How To Avoid Them)

7 Common Homebuyer Regrets (And How To Avoid Them) 
 
To avoid buyer's remorse, be sure to consider your future self when shopping for a home.
 
Most new homebuyers don't regret becoming homeowners. In fact, according to a survey by LendingTree, 80% of recent buyers who successfully overcame a challenging housing market say they're glad they found their current homes.1 But that doesn't mean newly-minted homeowners don't have any regrets about their buying choices. 
 
On the contrary, research shows that even the most-satisfied homeowners would change some aspects of their home purchase if given the opportunity. According to a recent survey by Anytime Estimate, nearly 3 out of 4 buyers who purchased a home in 2021 or 2022 still have a few regrets.2
 
Some question their decision to move to a neighborhood they still don't love. Others wish they had been less picky about where they lived so they could have paid less. Many are afraid they oversp; ...

Saturday, July 1, 2023   /   by Kelly Morrison

Renovate or Relocate? 3 Questions To Help You Decide

 
 
Does your current home no longer serve your needs?
 
If so, you may be torn between relocating to a new home or renovating your existing one. This can be a difficult choice, and there’s a lot to consider—including potential costs, long-term financial implications, and quality of life. 
 
A major remodel can be a major commitment. From hiring contractors to selecting materials to managing a budget, it can take a tremendous amount of time and energy—not to mention the ordeal of living through construction or relocating to a temporary residence.
On the other hand, moving is notoriously taxing. In fact, in one survey, 40% of respondents viewed buying a new home as ”the most stressful event in modern life.”1
So which is the better option for you? Let’s take a closer look at some of the factors you should consider before you decide.
 
 
What Are Your Motivations for Making a Change?
 
It’ ...

Thursday, June 1, 2023   /   by Kelly Morrison

National Real Estate Market Update for 2023

National Real Estate Market Update for 2023
 
There’s an old adage in real estate: location, location, location. But ever since the Federal Reserve began its series of inflation-fighting interest rate hikes last year, a new mantra has emerged: mortgage rates, mortgage rates, mortgage rates.
 
Higher rates had the immediate impact of dampening homebuyer affordability and demand. But this year, we’re seeing further repercussions. While analysts expected listing inventory to swell as sales declined, instead, homeowners have been pushing off plans to sell because they feel beholden to their existing, lower mortgage rates.
 
So what impact is this reduced demand and low supply environment having on home values? And what can we expect from the real estate market in the coming months and years? Here are several key indicators that help to paint a picture of the current market and where it’s likely headed.
 
 
HOME SALES ARE EXPECTED TO PIC ...

Monday, May 1, 2023   /   by Kelly Morrison

How to Become a Homeowner on a First-Time Buyer’s Budget

How to Become a Homeowner on a First-Time Buyer’s Budget
 
It's not easy being a first-time homebuyer right now. At the end of last year, housing affordability hit an all-time low.1Additionally, mortgage rates have risen significantly since 2021, while inventory remains tight for many property categories, but especially for starter homes. Even lower-priced condos are harder to snag these days, as investors and downsizers muscle out first-timers by offering stronger, often cash-heavy bids.2
 
In fact, according to the National Association of Realtors, only 26% of last year's homebuyers were first-timers—the lowest share on record and down from 34% a year prior. This underscores just how steep a hill new buyers are facing.3 As a result, many first-time homebuyers are finding that they need to get creative or risk renting for longer than they planned. 
 
If you, too, are struggling to afford homeownership, here are some workarounds to consider ; ...

Saturday, April 1, 2023   /   by Kelly Morrison

Stress-Free Home Cleaning: 27 Practical Tactics for Busy Households

Stress-Free Home Cleaning: 27 Practical Tactics for Busy Households
 
Keeping a clean and orderly home is a challenge for many of us. Between busy work schedules, social obligations, and family commitments, it’s tough to keep up with daily chores—let alone larger seasonal tasks.
 
The effort is worthwhile, however. A sanitary environment can keep you and your family healthier by minimizing your exposure to germs and allergens.1 Plus, researchers have found that organized, uncluttered homes have quantifiable mental health benefits, too, including reduced stress, improved emotional regulation, and increased productivity.2 
 
The reality is, we enjoy our homes more when they are in good order. It’s much easier to relax without piles of unopened mail or a messy kitchen reminding us of work to be done. And don’t we all feel more inclined to entertain family and friends when our homes are well-kept?
 
That’s why we’v/ ...
Avenue Realty Shenandoah Valley
Kelly Morrison
413 W Main St
Waynesboro, VA 22980
540-649-5000

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