Spring has sprung and with it the busiest time of the year for real estate activity. Early forecasts from March pointed to trends that were shaping up for this year’s high season. Two months later, we are seeing signs that signal prime opportunities for many potential homebuyers and sellers.

Here are three reasons to act now if you are in the market for a home this year.

1. Tighter inventory is fueling price gains

With an average inventory level of 4.7 months, there are fewer properties to choose from, resulting in multiple offer situations and bidding wars. Lack of inventory may be frustrating for buyers now, but the classic supply and demand cycle is having a positive effect on housing prices and thus can serve to continue the momentum of the housing recovery. NAR and Fannie Mae are forecasting between a 5 and 7.5 percent increases in median sales prices this year so entering the market now could get you a sweet deal.

2. Conventional sales are outpacing distressed sales

For many years, distressed properties negatively impacted prices but as fewer distressed properties make up the inventory mix, a more realistic pricing environment is emerging, one that serves to instill greater confidence in local market conditions. The brighter pricing picture may be just what many people need to feel comfortable in getting off the fence. And as prices increase, more people who are underwater will be able to consider putting their home on the market. If you have been underwater, get a current picture of your equity position by asking a real estate professional for a CMA. If you are looking to buy, get your finances in order now to be able to take advantage of these homes as soon as they come on the market.

3. Continuing challenges in getting financing

Credit scores continue to be the sticky wicket for many would be homebuyers, but with time comes the eventual repair of consumer credit history and the ability to secure a loan. As unemployment continues to drop, aspiring homebuyers will be in a better position to save for a down payment, paving the way to a mortgage loan for which they can qualify.

We are well on the road to a housing recovery – if you are in the market for a home, don’t ignore the signs! http://www.owningthefence.com

The Village of Flat Rock will hold its annual Ice Cream Social at noon June 1 on the grounds of the Flat Rock Village Hall and throughout the village. Vanilla, chocolate chip, strawberry, no sugar added butter pecan and sherbet will be served.

Mayor Bob Staton will kick off the festivities, which continue until 4 p.m. Beginning the afternoon’s entertainment is Appalachian Fire Bluegrass Band, led by Dwayne “Doc” Durham. Also returning are the Bishop Brothers (Myron, Wayne and Lenior), who grew up in Brevard.

New to the Ice Cream Social this year will be Simple Folk, a four-piece Asheville/ Hendersonville band celebrating its 10th anniversary this summer. The West Henderson High School Jazz Band, directed by Alan Klaes, will close out the afternoon’s entertainment. Tiffany Ervin will serve as mistress of ceremonies.

The performance of the Flat Rock Village Merchant’s Music Series, sponsored by the Village of Flat Rock, will feature singer and songwriter Tom Fisch at 6 p.m. on the back porch of the Wrinkled Egg. Call 828-697-0208 for more information.

One of the main goals when it comes to selling your home is getting what you’re asking for it or possibly even more. It’s also nice to be able to sell your home pretty quickly. You can make this happen by following some home staging tips.

Use these tips to make sure you’re giving potential home buyers a great first impression:
•Focus on your front lawn and entrance: Make sure these areas look their best in order to entice people to take a look inside your home. Brighten up the lawn with flowers, and keep the grass mowed.
•Clean, clean, clean!: Your home should be spotless and free of clutter when home buyers come over to look at it. Make sure each room looks neat and tidy. Scrub the floors, wipe down counters, vacuum and wash windows as needed.
•Make the most of your dining room: Decorate your dining room table instead of leaving it bare. Place a few small vases of seasonal floral arrangements down the center of the table to liven it up a bit.

Looking for additional home staging tips? Check out this post on how to use Pinterest for inspiration, and visit ERA.com for more advice to help you sell your house faster!

http://www.owningthefence.com/home-staging-to-sell-quickly/

Spring is the perfect time to plan and carry out home improvement projects. Whether you are getting your home ready to sell or just want to make it an even nicer place to live, a little extra cash in your pocket can go a long way towards updating your house.

We polled several ERA Real Estate brokers and here are the areas they feel are worth addressing first when planning home improvements:
•Kitchens: As mentioned in an earlier post, ERA president and CEO Charlie Young suggests granite or quartz countertops, a mosaic tile backsplash, and a stainless steel under-mount sink – all of which can be purchased for around $10,000. If your return isn’t that large, focus on the countertops. Hands down, our brokers believe that is the best way to freshen up any kitchen.
•Bathrooms: Again, the countertops win! While overall bathroom updates can be pricey, simply switching out the countertops and adding a few nice touches such as a new mirror, contemporary fixtures or a new medicine cabinet can make a world of difference when selling a home or improving quality of life in your home.
•Doors: Do not shut the door on this idea! Broker Robyn Erlenbush of ERA Landmark Real Estate in Bozeman, Mont. says that one of her favorite recommendations is to change out the front and garage doors for a quick, easy and affordable update because they are exterior focal points that get a lot of attention from potential buyers.

You know that fixing up your home is a great way to get a better deal when you sell it. Many homeowners focus on the rooms that are the most visible or highly used. Don’t make the mistake of overlooking your bathroom or only making minimal changes to it.

Here are a few ideas for a remodeled bathroom that can add value when it’s time sell a home:
•Scale back: Modern designs for bathrooms focus less on elaborate concepts and more on sleek, organized styles. Keep it simple with storage areas that are tucked away so that your new bathroom fixtures get more attention.
•Go green: Consider having eco-friendly features installed, like low-flow faucets, toilets and shower heads. In addition to protecting the environment, these green features also lower water bills significantly.
•Add flair: Choose a pedestal sink for a more elegant look or a freestanding claw-footed tub to give your bathroom a more vintage appearance.
•Go modern: Take advantage of high-tech features, like wi-fi music or programmable thermostats for the shower, to give your bathroom more resale value.

Don’t let debt stop you from going after your dream home. You might think that you have to pay off all your debts before you can qualify for a mortgage, but this isn’t always true. You can still buy a new home while you’re in debt, as long as you keep a few things in mind.

Don’t let debt hold you back from being a homeowner.

When deciding whether to pay off debt before buying a home, take the following points into consideration:
•How much debt you have: If the amount you owe is fairly low, you can still get approved for a mortgage with decent interest rates. Lenders calculate your debt-to-income ratio in order to determine how much of a risk you are.
•Buying beats renting: If you rent while putting off buying a home in order to pay off debt, you’re missing out on tax incentives for homeowners and the opportunity to build equity.
•Refinancing down the line: Keep in mind that you can refinance your home later on, and use that equity payment to pay off debt.

Stop by ERA Real Estate for more tips and resources for home buyers!

Crank up the curb appeal
Pull weeds, rake leaves and trim overgrown shrubs, especially if they block windows or the path to your front door.

Paint
It’s important to make your house generic. A fresh coat of neutral paint will make your home appear larger, brighter and more appealing to potential buyers.

Make repairs
Fix things like leaky faucets and sticky cabinets, and replace old screens. They may seem insignificant, but minor repairs add up in the mind of a potential buyer. They tend to overestimate how much repairs cost. You don’t want to give them any reason not to put in an offer.

Rearrange
Make sure your furniture placement allows for easy traffic flow and shows the purpose of each room. If you have too much furniture, rent a portable storage device to hold things until you are ready to move into your new place. If you don’t have enough furniture, borrow or rent.

A clean and uncluttered kitchen is a staple of home staging.Pack up
This includes personal photos and portraits. Less is always more. The less clutter and knickknacks you have lying around, the more potential buyers will be able to see your home and what it offers. Remember, you are selling your house, not your stuff. Plus, getting a head start on packing will eliminate some stress down the road.

Organize
When your house is meticulously organized, buyers will envision themselves living a stress-free life in your home.

Clean
Clean every inch of your house, and don’t forget to make your windows and floors sparkle. If your carpet appears old and stained, think about replacing it. Also, make sure there are no offensive odors. Purchase an air-neutralizing spray that will help remove odors without creating an overwhelming masking odor. Clean homes sell!

Lighten up your home with natural tones and a neutral dose of style.Lighten up
Let the sun shine in, and turn on the lights. Open all blinds or curtains, and make sure the house is well lit.

Temperature
Be sure potential buyers are comfortable when touring your home. If it’s freezing outside, leave the heat on, and if it’s summer, turn on the air conditioner.

Keep it ready to show
It may be a little inconvenient, but until you accept an offer, keep your home in tip-top shape at all times. What this means is that each room should have a clear purpose, nice flow and be clean and clutter-free. Buyers need to be able to picture themselves and their things in a room, and taking these steps will help ensure that

What sets one home apart from another as buyers are touring homes? What features do buyers truly need, and which amenities would they merely view as a bonus? The National Association of Realtors has tried to answer those questions (and more) with the recently released 2013 Profile of Buyers’ Home Feature Preferences. The survey was completed by buyers who purchased a home between 2010 and 2012.

According to the study:
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The typical buyer bought a home with three bedrooms and two full bathrooms. About half of homes purchased were on a single level, while two-fifths were on two levels. Garages were more popular among buyers of new homes, homes in the Midwest, and homes in the suburbs. Fireplaces were most common in higher priced homes, homes in resort or recreation areas, and in detached single-family homes. Forty-one percent of homes had basements, which could be finished, partially finished or unfinished. Finished basements were more popular among single males, younger home buyers, and buyers in the Northeast and Midwest.

For sellers who are looking at remodeling, and want to make sure their renovation dollars are well spent, this could be a road map of what to update or add to their homes. Some other highlights:
•78% of buyers chose a home with a garage
•58% purchased a home with a fireplace
•New kitchen appliances were more important to buyers than granite countertops
•69% of buyers who didn’t buy a home with new appliances would have been willing to pay more for a home that had them
•Among buyers 55 and older, 42% rated a single level home style very important, compared to only 11% of buyers under 35
•Buyers were willing to pay a higher dollar value for an in-law suite and a basement than other extra room types.
•The feature that had the highest dollar value buyers were willing to pay extra for? Waterfront location.
•53% of buyers started a home improvement project within 3 months of buying, typically in the kitchen.
•The majority of buyers wanted more or larger closets and more storage.

The great news is that 97% were satisfied with their home purchase.

Crews placed the copper mountaintop on the new fountain at the First Citizens Plaza on Wednesday, giving a clear picture for the first time of what the downtown piece will look like.

The mountain fountain, designed by sculptor Berry Bate of Asheville, is going up now. Under Bate’s direction, crews with the Trace Co. have poured the 15-foot diameter concrete circle that will contain boulders and the copper artwork. Water will flow down from the copper mountains to the boulders. The dome at the top is 10 feet high.
The boulders will start going into the fountain pool on Friday and continue next week, she said.
“It’s ringed with Pisgah, Pinnacle and Sugarloaf, the mountains that surround Hendersonville,” she said. “We wanted to make it what was meaningful to Hendersonville.”
The artwork on the First Citizens Plaza is the most visible part of the city’s $1.6 million makeover of the 500 and 600 blocks. The city had planned a gateway sculpture at the Umi corner, at Seventh and Main, but the council could not agree on a design and instead settled on a stone welcome sign featuring the city’s stylized H. The City Council allocated $70,000 for the fountain and $40,000 for the gateway sculpture.
Bate works with copper, bronze, iron and stone, and has done work at Chimney Rock, Jump Off Rock, the Biltmore Estate and the Grove Park Inn. She said she is enjoying the Hendersonville project, which draws a lot of comments and questions from passersby.
“I’m so fortunate after 32 years of doing this to be given such nice work,” she said.

Friday Fun Day takes on a whole new meaning when you are in home selling mode. Did you know that according to an analysis by real estate brokerage Redfin, Friday is the best day to list your home on the market?

According to the Wall Street Journal article, “The Best Day to List a Home Is . . .”, last year, homes listed on Fridays sold for 99.1% of the seller’s original asking price versus 98.4% for homes listed on Sundays. And, apparently, properties listed on Fridays sell the fastest – within 81 days on average.

Why? Well it seems that adults tend to be in a better mood on Fridays and are positive in anticipation of the weekend.

However, do not count out Tuesday through Thursday when potential buyers are making plans of what to visit and when. This is the time when they most often begin booking their weekend home tours.

For more information about when to sell and when to check out homes, check out the article. For great one-on-one advice pertinent to your market, contact your ERA Real Estate professional. They’ll know the ins and outs of selling success relative to your area.