October 2020 Charlotte Housing Stats

Sellers who are ready to list have the opportunity to receive high visibility for their listings and spend less time on market!

Properties averaged 25 days on market in October, which breaks yet another record related to how quickly homes are selling. During the month of September DOM averaged 29 days.

This means properties are selling nearly as quickly as they are listed!

Give us a call today at 704-467-8877 to see how our team of seasoned experts can get you the most money for your home!

Should I Renovate My House Before I Sell It?

In today’s hyper-competitive market, buyers are often willing to overlook cosmetic or minor repair needs if it means snagging a home in their price range. With so few houses available for sale today, you may be able to skip the bigger renovations before you sell and cash in on the current demand for your home!

If you’re ready to move, reach out to the Yancey Realty team at 704-467-8877 to determine your best next steps in this sellers’ market!

 

Choosing the Right Couch

As one of the integral furniture pieces you will be purchasing for your home, selecting the right couch for you is incredibly important. Below are five aspects to consider when looking for the lounger of your dreams.

Size. The first thing to consider is how much seating you need. If you have a large family (or planning to grow yours) or have plans to host friends for movie nights or the big game, you should look at larger sectionals. If you live alone or don’t have children, you can opt for something a little smaller.

Shape. To determine the couch shape, you’ll need to examine the size of your living room and determine how you want the area divided. If you want your couch to be the focal point and fill most of the room, an L-shape is a great option, but if you are interested in incorporating more chairs or recliners then a 3-seater sofa might get the job done.

Color. If you have children or pets, will be hosting gatherings where people may eat or drink in your living room, or you just love a good movie and snack night, you may want to choose a darker couch.

Fabric. Similar to choosing a color for your couch, selecting a fabric comes down to who will be using your couch and how. Cotton, linen, and chenille are usually better suited for a slightly-used couch while fabric like leather, microfiber, and polyester is easy to clean and durable.

Filling. Foam is a commonly used cushion material and generally offers more support and lasts longer with little maintenance, while feather- or down-filled cushions provide that soft, sinking comfort, but require more maintenance.

Style Your She Shed!

She sheds allow the women of the household a tranquil sanctuary where they can step away from the hustle and bustle of their home lives. Here are some must-haves for your she shed!

Décor

The options for decorating your space are endless. Whether you go modern, rustic, or cozy, the choice is all yours. Some items to consider are framed photos of family, friends, and pets, a letter board for fun sayings, colorful paintings, mirrors, and plush or colorful rugs.

Plants

Whether you have a green thumb or not, adding real or fake plants into the mix can help create a Zen, calming space. Some easy-to-maintain plants include succulents, snake plants, air plants, and parlor palms. Freshly cut flowers can also liven up the room.

Lights

Selecting the right lighting can really affect the ambiance of your she shed. Some options to consider include string lights, unique floor or table lamps, chandeliers, candles, and light diffusers.

Seating

Some of the most popular seating choices for a she shed are lounge chairs or chaises, however don’t rule out a big comfy couch, recliners, or floor pillows if those are more your style.

Activities

What are your favorite activities to do alone or with your girlfriends? Whether you love to craft, sew, journal, read, play an instrument, watch TV, or workout, make sure you stock all the items needed for your favorite hobbies in your space. Refreshments Whether you’re a wino, dirty martini connoisseur, or mocktail master, a designated bar area is a common addition to a she shed. Don’t forget your favorite treats to complement your favorite drink.

Closing Costs 101

When purchasing a home, there are several fees you have to understand and factor in to your budget before you hit the closing table. Here’s what you need to know.

What are closing costs?

Closing costs are the fees for services required to finalize your mortgage. Typically, the buyer is responsible for paying these costs unless otherwise negotiated to have the seller contribute. Fees include (but certainly are not limited to) attorney, appraisal, inspection, government taxes, title insurance, home insurance, mortgage insurance, and property taxes.

How much are closing costs?

According to Zillow.com, closing costs usually total about 2 to 5 percent of the home’s purchase price, and they generally vary depending on the property purchased and state you reside in. Your lender will provide you with an estimate of your closing costs following your loan approval, and although that number can change slightly, your final costs should be similar.

How can you reduce closing costs?

Some of the fees that fall under your closing costs can be reduced by doing ample research on lenders at the beginning of the homebuying process. Then, compare any potential discounts or deals they offer before making your choice. Additionally, you can attempt to negotiate with the seller to cover part or all of your closing costs.

Can you avoid upfront closing costs?

If you think you will be unable to afford the closing costs upfront, you can opt to roll them into your loan. However, choosing this route often costs you more in the long run. At a minimum, you’ll have to pay interest on your closing costs, or depending on your lender, you may face a higher interest rate on your entire loan.

Create Your Dream Man Cave

Sometimes, the man or men of the house just need a little space to do their thing. That’s why, if your home layout allows, a man cave is a great addition. Now that you have the space picked out, how should you fill it? Check out the below to get you started!

Mini fridge and bar. Every good man cave has a stockpile of drinks and food. Purchase a mini fridge and fill it with your favorite alcoholic or non-alcoholic beverages. Then, don’t forget to fill a basket with easy-to-grab snacks.

Ample seating. You’ll likely be spending a large chunk of time in your man cave watching tv, relaxing, playing games, and more, so choosing the right couch or recliners is crucial. Plus, if you plan to have the guys over, you’ll want to make sure you choose furniture that can seat everyone comfortably and have back-up folding chairs in case you need more spots.

Favorite décor. Whether you’re a big movie buff, die-hard sports fan, or dedicated concert goer, your man cave is the perfect place to let your interests shine by displaying your favorite memorabilia, posters, jerseys, and more. TV.

The centerpiece of your man cave is your TV. You should purchase one that is large enough to see clearly from any spot in the room and comes equipped with streaming services to ensure you can catch the game or newest movie release with a click of a button.

Games. Video games, card games, board games, and more. Fill your man cave with all your favorites to keep you and your guests entertained with some friendly competition.

Must-Haves For Your First Home

You’ve just purchased your first home and it’s time to start filling it up. But, where to start? Below is a list of must-haves for each room in your home!

Living room. Aside from standard furniture, like a couch, chairs, coffee table, and television, there are a few other staples you should consider purchasing, such as a plush rug, floor lamp, TV stand with cupboards or drawers, and throw blankets.

Kitchen. On top of dishes, silverware, and glassware, don’t forget other kitchen essentials such as a can opener, bottle opener, toaster, strainer, oven mitts, baking sheet, measuring cups and spoons, and cooking utensils. Plus, it’s a good idea to stock up on basic seasonings, oil, and other commonly used condiments.

Bedroom. When you think of your bedroom, purchasing a bed frame, mattress, bedding, dresser, hangers, and bedside table are the first items that come to mind. In addition to those, you may want to consider picking up a table lamp, laundry hamper, wall or full-length mirror, wall or door hooks, and under bed storage bins.

Bathroom. A bath mat, shower curtain, shower liner, toothbrush holder, hand soap dispenser, plunger, and toilet brush are must-have items for each bathroom in your home.

Cleaning supplies. New home means new cleaning supplies. Start by purchasing dishwashing soap, laundry detergent, handsoap, disinfectant spray, glass cleaner, floor cleaner, mop, broom, and sponges.

Other. It’s always a good idea to keep a few maintenance and safety essentials on hand in your home. Some items to consider are a step ladder, small safe, first aid kit, batteries, flashlight, lighter, extension cord, toolbox, and duct tape.

How to Save Water (and Money!) at Home

As a homeowner, if you don’t maintain good water-saving habits, you could be sending more money than necessary straight down the drain every year. Start saving by trying out the tips below!

Replace the showerhead. Daily showers account for a huge portion of water usage at home, especially if you have multiple people residing in the house. To help cut down on water used during each shower, swap out your normal showerhead with a WaterSense-certified replacement that uses fewer gallons of water per minute. According to the EPA1, this can save a family of four up to 2,700 gallons of water a year.

Fix leaking faucets. According to Forbes2, a leaking faucet can result in up to 20 gallons of wasted water a day. To avoid the expense that comes with this waste, make it a habit to check your faucets regularly for leaks and repair them quickly. Most of the time, it’s a quick fix and can be done with a faucet repair kit purchased online or at a home improvement store.

Don’t hand wash dishes. In this day and age, most homes are equipped with water-efficient dishwashers. By running a mostly full or entirely full load in the dishwasher, you use 1/6 less water than if you hand wash your dishes.

Water your garden by hand. Using a hose to water your outdoor plants and garden can result in a lot of waste. Try opting for an old-fashioned watering can, allowing you to keep your yard alive and well while also controlling the amount of water used each time.

Grocery Shopping On A Budget

As a homeowner, it’s never a bad idea to look at different ways to cut costs and one of the easiest areas to tweak is your grocery budget. Take a look at the tips below to help you tighten it up.

Test out stores. Take a couple weeks to trial some neighborhood grocery stores and track how much your staple foods cost at each, such as eggs, milk, vegetables, and chicken. Once you’ve completed your survey, determine if one store offers more savings overall and try to primarily shop at that location.

Plan ahead. Everyone has heard the sound advice to never shop while hungry. But, it’s also a good idea to never shop without a well formulated grocery list. Before heading to the store, outline your meals for the week, keeping in mind breakfast, lunch, dinner, and snacks. Don’t forget any condiments, seasonings, etc. you may be out of. Then stick to the list, preventing overspending.

Shop local. Farmers markets are an amazing way to save money. Not only are you likely to find amazing deals, but often the quality of the fruits and vegetables is higher than at chain grocery stores. Many of these markets offer “stuff your bag” deals where they allow you to fill a bag with as many yummy items as you can and pay one set price.

Don’t knock the freezer. Although it’s best to pick up fresh groceries, there are certain items you can venture into the frozen aisle for, like organic fruits and veggies. Plus, if there’s a great deal on a fresh item, like chicken, consider buying in bulk and safely freezing some for later.

Top Tips For The First-Time Homeowners

Owning your first home is one of the biggest milestones in an individual’s life. Once it’s finally all yours, you want to make sure you avoid common rookie mistakes like the ones below.

  1. Starting major renovations right away. With all the excitement and energy from the closing table still lingering, it’s easy to get caught up in home improvements. Before starting a major renovation, give yourself 2 or 3 months of living in your home to really solidify that it’s the right financial investment and what you really want.
  2. Ignoring routine maintenance. Ignoring routine upkeep and maintenance, such as prepping your pipes for winter, clearing gutters, and filling cracks near doors and walls, can cause big issues down the line. Make sure to budget both time and money for these tasks.
  3. Hiring the cheapest option. If you have a job that a professional, don’t always opt for the cheapest option. Makes sure to get several estimates for the work and look online for reviews. Once you do your research, select the professional you think will do the best job.
  4. Not knowing your property boundaries. During closing, you may receive a survey of your home and property, however it’s crucial you know exactly where your property lines are. Outline this before your start planting or building fences or structures.
  5. Neglecting the exterior of your home. Once you move in, it’s easy to focus your energy and effort on the interior. But don’t forget to give your exterior some TLC with thoughtful landscaping and regular checks to ensure weeds are taken care of and water is draining correctly.