Easy Ways To Save Energy In your Home

Running an energy-efficient home this coming summer doesn’t necessarily entail buying expensive solar panels or wind generators. Neither does it mean you have to wear your outdoor clothes inside to stop you shivering! Here are 8 useful tips.
Laundry: Wait until you have a full load of laundry and run the machine on cold. Detergents are available to clan clothes at low temperatures.
Dishes: Don’t pre-rinse your dishes as this wastes energy. And wait until the dishwasher is full before turning it on. If you have the time, use the air dry or no-heat dry settings so the dishes dry without using electricity.
Windows: In the winter during the day, open the blinds on south-facing windows to allow the sun to warm your home then close them in the evening to increase insulation. (In the summer, you can do the opposite to keep your home cool.)
Computers and TVs: Turn off your appliances when you are not using them. Even when they’re in standby mode they are still using electricity — it’s estimated 5% of household energy use is from appliances leaking away electricity. So turn them off at the wall.
Showers: While a long, hot shower is nice and relaxing, you can save a lot of money taking shorter showers and by installing energy-efficient shower heads that give you a good shower while reducing water use.
Space heaters: Surprisingly, space heaters are a lot cheaper than a central heating system. And don’t forget to turn them off when you’re out. Installing a programmable thermostat will also keep your heating bill low.
Furnace filter: Change the filter at the start of every season and then every month or two after because a dirty filter makes the furnace work harder and be less efficient.
Floors and drafts: If you’ve got hardwood floors, put down some rugs, particularly if you have wood floors above a cold basement. Make sure also that you’ve installed insulation such as weather-stripping at the bottom of doors. Like all other necessities, energy bills are on the rise. Being aware of the optimum times to run appliances such as heat and air, dishwashers & washer and dryers will increase your chances of keeping that hard-earned dollar in your pocket. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

How Can Buyers Compete In Today’s Real Estate?

How can buyers compete in today’s real estate? That’s the question being ask more and more by buyers near and far. It only takes a couple of offers not accepted to generate that response. When you have multiple offers on nearly every home that hits the market, there will be many unhappy prospects that miss out and will have to wait for the next opportunity. This market is not for the weak-hearted, only the strong survive. Even with what appears to be a never-ending supply of buyers, there are still many buyers that have decided to postpone buying and wait for the market to calm down and for more inventory to come on the market.

There are two problems with that last approach. The chances of inventory increasing enough to make supply outweigh demand is slim to none. The other point that should concern these buyers are property values are not stabilizing, they are still in an upward trajectory. The mind-set these fence sitters should consider is making adjustments to the strategy they used that made them lose the last property they bid on.

It’s difficult for buyers in general, but especially first-timers to give up their contingencies or protective devices. Unfortunately, that’s real estate as we now know it. When you have 25% or more of the homes selling with all cash offers, buyers that are obtaining a loan can only compete by giving up their appraisal and or loan contingencies. That’s a scary proposition for some, but just the way homes are now being bought. The correct sequence should be getting pre approved for a loan first before making an offer. If you take that step, removing the loan contingency should not be a big concern.

You still have that all important inspection contingency, right, no that’s something else that might have to go. Our purchase contracts allow 17 days for buyers to investigate the property. That is way more time than is actually needed. Lowering that to 7 or 10 days might be the difference in getting that home or losing out to a more motivated buyer. Sellers are in complete control when there are five prospects that want their home at the same time. Everything else being equal, giving up those contingencies could make a difference in moving into your new home or getting back on the fence. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home and easy access to view local area homes for sale in Davis, California and the surrounding communities.

Home Prices Raising The Roof

Home prices in 10% of the nation’s top 200 housing markets have recently hit new peaks or are only a hair away, new data show. Another two dozen of the top markets are within 5% of their peaks. many of the remaining cities are likely to hit new peaks this year. The data show how far prices in many cities have rebounded since the historic housing collapse after mid 2006.

Many cities now or at previous highs never saw the price runup leading up to the bust that others did. They didn’t drop as far, so they have less of a climb back. Of the cities within 5% of their previous peaks, none saw more than an 11% decline in home values from mid 2006 to the market’s bottom in 2012.

Much of the recovery can be attributed to a number of factors, none more than the lack of inventory. Rising mortgage rates and job growth are the other components that have been part of the recovery. There are still dozens of markets where prices peaked in 2006 that are still 25% to 60% below those highs.

One constraint is that sellers are afraid they won’t be able to locate a replacement home, since so few properties are for sale. The lack of inventory has effected that segment of buyers most of all. Multiple offers are the new normal in this market. We basically went from having lots of inventory and no buyers to having a lot of buyers and no inventory. This combination has led to rising prices and a concomitant drop in short sales as homeowners regain positive equity. With prices starting to go up, the renewed hope is that some of the underwater homes will become afloat.

A number of prospective buyers have made offers on homes and lost out to higher bids. Homes are so scarce that some offers are substantially higher than asking prices and many buyers are releasing appraisal, inspection and loan contingencies to make their offers more competitive. This maneuver would not have been even considered as late as 2012 and is now a common practice among many buyers.

Investors, all cash buyers and first time and repeat buyers are all competing for the same properties. This has created a demand that far outweighs the supply. This buying frenzy combined with limited inventory will continue throughout the rest of this year and make buying a home feel like a lottery win. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home and easy access to view local area homes for sale in Davis, California and the surrounding communities.

Fast And Furious Defines Real Estate Today

Fast and furious certainly defines the housing market today. What an excellent analogy when it comes to today’s real estate. The first five months of 2013 has had a similar feel to the roaring early 2000′s when sellers were in complete control and buyers were pursuing homes at a frantic pace. We are just now moving into what normally would be the selling season, no telling what the summer months will bring. There are many factors for the housing resurgence. Let’s look at a few factors that have turned the real estate market from fizzle to sizzle.

Lack Of Inventory: This is the most important reason for the turn around. When you have a one or two month supply of homes for sale at any given time and more buyers than homes available, this creates a supply and demand that favors the seller. Most indicators say it’ll be slim pickings for home buyers when it comes to home choices this summer and throughout the rest of 2013. Home prices have increased and the lack of inventory is the main component for that hike.

Uptick In Mortgage Rates: The combination of steady mortgage rate increases and the lack of sellable properties has changed the buyer’s perspective when it comes to buying a home. Patience is no longer a virtue for those determined prospects that want to buy a property before both rates and home prices move higher. One of every four homes selling are purchased with all cash, but for those that need financing, this is the time to get a loan before rates move higher.

Fewer Short Sales/Foreclosures: The past gluttony of short sales and foreclosures brought the housing market to a screeching halt and prices plummeted. The number of distressed properties have shrunk this year compared to the last several years and stagnant home prices have made a steady climb with fewer short sales and foreclosures to compete against.

Home Buyer Confidence: Lessons were learned by buyers, lenders and the real estate industry as a whole from the housing collapse. Lenders are less likely to give loans to questionable applicants and 20%  down payments are now the norm. There are still programs for those buyers with less than the desired 20% down, but there are more stringent guidelines than in years past. Buyers feel compelled and confident with buying a home again. The lessons learned from the recent past are much less likely to be repeated by todays home buyer. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.

Real Estate: An Overnight Phenomenon

It seems like just yesterday that buyers were in complete control of the housing market. Being patient was extremely beneficial because of the weekly drop in home prices and mortgage rates. You could not go wrong by waiting. As the clock ticked midnight on December 31st and the new year began, almost by magic the market turned from a buyers market to a full-blown sellers market. There were signs last year that real estate might be moving in a different direction, but nothing that would indicate what’s currently taking place. Even though home prices were stagnant in 2012, many more buyers felt the time was right to buy.

Bank owned and short sales were dwindling in numbers in 2012 and traditional sellers were being cautious when it came to competing with those distressed properties. As the new year set in we then saw the overnight phenomenon that changed the way buyers and sellers adapted to the quick turnaround. Home buyers were like sharks in a feeding frenzy and sellers were reluctant to sell because of the reports of steady increases in home prices. Why sell now when home prices are on the way up and could go higher was the thought process for many home owners.

Nationwide, home prices are up over 9% this year. Each region of the country showed price improvements. Let’s use our local markets in Davis and Woodland as models for what housing is doing throughout the rest of the country. There have been 129 properties sold in Davis as of 30 April 2013 compared to 71 properties sold last year through the same period. The average sales price also increased this year to $494,907 from last years $427,752. Price per square foot jumped to $266 this year compared to $253 last year. These are drastic increases across the board in such a short period of time.

Like Davis, the Woodland market saw large increases this year compared to last year. There have been 170 homes sold year-to-date compared to 108 properties sold in 2012. The average sales price of $236,794 this year dwarfed the $181,447 from 2012 and the price per square foot leaped to $135 from $115 last year.

Limited inventory and rising mortgage rates, plus home buyer confidence  have been the catalyst with the surge in the housing market. Both Davis and Woodland have less than a two month supply of homes available for sale. Six months are considered a normal market. The rise in mortgage rates combined with the lack of inventory has quickly changed what was a buyers market into a full-fledge sellers market. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home.

Homes Are Selling At A Frantic Pace

There’s no way anyone was expecting the quick turnaround that has taken place within the housing market. Homes sold faster last month than in any February since 2007 as eager buyers dealt with a tight supply of homes for sale. Normally the housing market is still hibernating in February, but times have changed. The Sacramento region had one of the largest turnarounds in the entire country. Properties were coming and going at a rapid pace. Homes averaged 21 days on the market. Eight of the ten fastest moving markets were in California.

With such fast-moving markets, buyers and sellers are less likely to see price reductions on properties and more likely to see multiple offers. It’s not just a coincidence that nearly all of the markets with low median market times are also seeing big declines in home listings. Many regions throughout California are experiencing multiple offers, Oakland for instance had two of three properties that sold with multiple offers during the month of February.

The prices of homes rose over 10% in Davis this year with the lack of housing inventory being the main reason for the increase. The supply of homes for sale is slightly over a two month supply. Historically, Realtors have considered a six month supply to be balanced between buyers and sellers. Nationally, February’s inventory was at an 18 year low.

Some homes in Davis and other inventory deficient communities are selling before they hit the multiple listing service. These off-market sells makes up a small amount of the total sold properties in Davis. In other areas like Menlo Park and Palo Alto, those homes make up nearly 25% of home sales. Many flustered home buyers that have lost a number of homes in multiple offer situations have been willing to waive home inspection or other contingencies that might make their offer more seller friendly.

The other part of the double-edge sword working against the buyer is the recent rise in mortgage rates. Home buyers have a time of the essence attitude with the current dynamics of higher prices and the jump in rates. Homes purchased with a loan and at higher than asking prices are having some difficulties with the all important appraisal. Appraisers are having problems with comparable sales when home prices are rising at such a rapid pace. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home and easy access to view local area homes for sale in Davis, California and the surrounding communities.

Is The Current Sellers Market Here To Stay?

How quickly fortunes have changed for home buyers and sellers. It seems like just yesterday that we had a boundless number of properties on the market and a shortage of buyers. This year we have had a complete reversal with few homes to choose from and an immense number of home buyers. This has created a hectic situation for prospects looking to purchase a property and ecstasy for those fortunate homeowners that have taken advantage of the circumstances. Local Davis, California home prices have jumped by over 15% through the first couple of months this year compared to last years first couple of months.

Real estate is cyclical and local but the entire state of California has had a revival of home prices. Most states are reporting an upsurge in property values and forecasters are expecting prices to increase in every state by the end of 2013. The bigger questions should be, is this sellers market here to stay? Will the lack of inventory continue through the spring and summer? Might the continuing increase in mortgage rates derail any of these buyers enthusiasm or ability to purchase a home? These are questions that can only be answered over time. Let’s take a look at real estate data for Davis comparing last year and this year.

Through March 15th, we have had 63 sold properties. The average sales price is $497,566 with a price per square foot of $264. These homes averaged 66 days on the market. The same period in 2012 saw 62 sold properties that averaged $432,524 sales price. The price per square foot was $252 and it took those homes 89 days on the market. Those increases from last year to this year are fairly typical of the improvement real estate has experienced regionally and statewide.

We presently have 64 homes on the market with an average listed price $549,681. The average square footage of those homes are 1,898. The price per sq ft is $294 and they averaged 57 days on the market. This is less than a two month supply of homes. A five month supply would define a normal market. There are 58 pending sales with an average listed price of $493,328. The average square footage of these homes are 1,813. The price per sq ft is $271 and they averaged only 33 days on the market. As long as the inventory stays low and buyers continue bidding on homes, the current sellers market might be present for the forseeable future. Please visit my website www.JohnnyBrooksHomes.com for helpful tips on buying or selling a home, scan my informative blogs and easy access to view local area homes for sale in Davis, California and the surrounding communities.