Building Wealth • General Info • July 11, 2024

The Coming Recession!

by Darren Upp

You’ve undoubtedly seen that there’s a recession and market adjustment looming again. Many say it’s already here. This is all part of the natural cycle and after you’ve been through a few, you start to prepare for them and profit from them in several different ways.

While the last bubble burst was real estate related due to sub-prime loans and questionable lending practices, this one is much different due to massive inflation and supply chain issues like never before.

Since I work with so many real estate clients, I always try to keep up to date on stats and predictions to ensure my clients are prepared for any changes they may want to make with upcoming economic changes. This upcoming market correction is different and I must say, I’m feeling pretty confident about it.

I’ve seen articles from NAR as well as other respected economic authorities and it appears that the ONE safe investment people will have in America with the down turning market is housing. That’s great news for me and great news for your family too! While they DO expect the real estate market to cool off and slow, that doesn’t mean we will see a “crash”. This certainly beats the massive depreciation we all experienced starting in 2008!

So of course, we are all hoping these economic indicators are right and if so, real estate may be the only safe investment to consider! The stock market has dropped, the bond market will take a hit and consumers will slow their spending in the retail environment but real estate can keep a steady and healthy base as we push through to begin recovering from whatever losses the market sees.

I’m certainly no economy genius myself, but I trust the respected and proven “higher ups” that have always been right in the past. They study this stuff all day, every day and they have a pretty good read on the market.

We are already talking to investors that are pulling their money out of other markets and creating a real estate portfolio. It’s nice to know you can MAKE money in a shrinking economy! If you’ve considered buying a rental home, lets chat!

Uncategorized • June 18, 2024

When Is Best Time To Sell A Home?

by Darren Upp

This is the question of all questions when it comes to real estate. As a professional agent and marketing specialist, I talk to homeowners during every month of the year that are hoping to “time the market” to sell the home for as much as possible.

The common misconception is that you will sell a home for more money during one season as opposed to another one. Unfortunately, we’ve never found any data whatsoever to support that in this area.

In some areas of the country, there are more buyers in the Summertime and in other areas, the Wintertime is the big season. But guess what??? When there are more buyers, there are also more sellers trying to sell. As a matter of fact, most of those buyers also put their current property on the market so that they can make the move.

The most ridiculous thing anyone can do when making a move for their primary residence is to try to “time the market” in lieu of making the move when the family needs change.

In real estate, we know that most people have a housing need change when they go through a life change. In other words, a birth or death in the family, a job promotion or a job loss, children heading off to college, a marriage or divorce and other things of this nature. When there’s a life change, it creates a housing need change. The last thing you’d ever want to do is wait until “the hot market” time in the area. The truth is, everything is based on supply and demand and your home won’t sell for more money when there are 5 times as many homes available for sale in your neighborhood.

As a matter of fact, due to the competition, I’ve personally witnessed this having a negative effect on home prices because after all, you probably don’t really NEED to sell your home so someone will always be a heck of a lot more motivated to unload their home than you are. That creates a downward pressure on asking prices.

In reality, if you are going to be utilizing a mortgage when buying your next home, you want to time the market by timing YOUR expenses which is the interest rate. Since rates are going up and it appears that will continue to happen for the next several years, the absolute BEST time to buy a home was 3 months ago. The next best time is right now. Waiting a year or two can cause you to pay several hundred dollars per month more in the form of a higher interest rate.

While nobody can precisely predict the future of the economy in any country, it’s safe to say that rates will never go any lower than they’ve been lately. After all, for all of us still living and breathing, we’ve never seen anything like this before throughout our adult lives.

It may be wise to find that new place sooner, rather than later. If you feel like your family deserves a bigger home and could really utilize the extra space, now is the time for us to start casually looking around with no commitment of officially making a move. But for my clients, I want to ensure they don’t wait until rates are way up again and it prices them out of the ability to secure a larger home for the same monthly payment they have now.

General Info • Sellers • June 10, 2024

How Far Is Starbucks From You?

by Darren Upp

Lately, stats have proven that your home’s value can be dependent upon your proximity to the local Starbucks, Trader Joe’s or any other local grocery store as well as fast food locations. According to Zillow, things that increase your home’s value are good school districts and neighborhoods, larger square footage and its closeness to these local retailers.

Recent research shows major increases in value for homes that are “in the thick of things” as opposed to those that are out of the way a bit.

Of course, we’ve heard this our whole life. Location, location, location.

The most recent data we’ve found shows that homes within a quarter mile of Starbucks had value appreciations nearly double that of homes that are further away. Meanwhile in Detroit, homes near a brand-new opening of a Whole Foods have nearly DOUBLED in price!

A RealtyTrac study showed that homes in the same zip code as a Trader Joe’s went up by an amazing 40% during a period when the average growth for the nation was only 34%.

In all fairness, what happens in other areas around the nation doesn’t necessarily apply here in our area all the time, but it certainly makes sense when there’s a definite connection between property values and it’s closeness to these new or popular retail locations around the country.

There are many factors that go into what you are looking for when considering a possible move.

First and foremost is always about finding the perfect home for your family’s needs.

However, a very important second factor to consider is location to popular retail locations even if it’s not establishments that you would frequent yourself. You have to keep resale value in mind anytime you are buying a home for your family, or for investment purposes. If you have questions about any of these thoughts, just give me a quick call here. I’m always happy to speak with you!

Homeowner Tips • Sellers • May 16, 2024

Increasing The Value Of Your Home

by Darren Upp

When it comes to one of the largest assets you’ll ever own, it’s important to ensure that you keep the value on par with where it should be in relation to other homes in the area. As you start seeing other homeowners doing upgrades to the inside or outside of their property, it’s important to keep up with the revitalization of your own home.

Sometimes a simple landscaping upgrade can make it feel like you live in an entirely different house each time you pull in the driveway. A fresh coat of paint or new flooring also makes the inside feel new and can keep your home on par with other properties that have done the same improvements.

We are all aware that your property’s overall value has a lot to do with comparable home sales within your area. But remember that any upgrades they have which seem superior to yours will certainly shine through with Realtors and Appraisers that are looking at the comps.

A few months before you plan to sell your home it’s best to first declutter as much as possible. Since we live in our homes every day, things can start to accumulate and before you know it, there’s clutter stacking in various places. Anytime a potential buyer is looking at a home it’s often because they are looking for more space. You want your property to look like it has ample space which can easily be done by taking things out of the home to make it look more open and spacious.

Each home is unique. There are generally a few items that your specific home could have done to increase the overall value by $10,000 to $20,000 yet it doesn’t cost much money to create that value. As a real estate professional, I offer to meet with my clients once every year or two to take a quick tour of the home see what they’ve done and provide some professional advice on things they COULD do to increase the value and marketability of the home. We’ve found that this works much better than waiting 5 or 6 years until it’s time to move again and then dealing with everything at once.

If you’d like some professional advice on how you can increase the value of your home, just give me a call and I can swing by. Being a Realtor, I’m always driving around town so it’s no problem at all to stop by. That’s also a good time for us to catch up for a moment! You know how to reach me!

Homeowner Tips • Sellers • May 7, 2024

You’ll Probably Need Maintenance!!

by Darren Upp

When you’re spring cleaning, you’ll likely find basic maintenance issues that need addressed.

Did you know there’s actually a maintenance checklist full of items you should investigate within the home this time of year? Now that the weather is consistently staying above 70 degrees, you should run through this checklist to ensure your home is in optimal condition.

Exterior Caulking: Be sure to scrape out and replace any caulking to keep things water tight.
Window Sills, door sills & thresholds: Fill cracks, caulk edges and repaint to protect the wood.
Hot Water Heater: Drain from the floor drainage system to remove all sediment. Also lubricate the circulating pump and motor.
HVAC System: Lubricate the blower motor so it will work efficiently this year.
Foundation: Check the walls, floors, concrete and masonry for cracking, heaving or deterioration. If you can slide a nickel into any crack or mortar joint, be sure to call a professional immediately.
Roof: Inspect roof surface flashing, eaves and soffits. Check all flashing and sidewalls to ensure everything is tight.
Siding: Clean off any mold with a pressure washer. Check for any chipped paint to scrape it and repaint. You may want to use a coat of primer to extend the life of the material, as well as the paint.
Gutters & Downspouts: Pull leaves and debris from gutters and downspouts. Reattach anything that has broken loose from the house. Use a water hose to flush everything out. If you see leaks, seal them immediately.
Door & Window Screens: Clean all screening and check for small holes created by the weather or by birds. If holes are bigger than a nickel, it leaves plenty of room for bugs to get in. Replace screens as needed and be sure to repair anything that appears to be getting loose. Wind can absolutely ruin screens if they are loose and flapping.
Landscape: Cut back and trim all vegetation and overgrown bushes from structures. Limbs and leaves can cut into your paint due to wind. Ensure that no tree limbs are touching the house as this can allow for termites, carpenter ants and other wood boring insects.
Sprinklers: If you have sprinklers installed in the ground, check for leaky valves, exposed lines and improperly working sprinkler heads. See if any area of your lawn is getting too much water or not enough. Adjust accordingly or call in a professional to make the changes.

Buyers • Client's Corner • Sellers • April 18, 2024

The Proper Way To Think About Moving

by Darren Upp

One of the biggest decisions you’ll ever make comes from deciding on the right time to move, and where to move to. As a real estate pro, I’ve seen that most people go about it all wrong. It’s not wise to just “decide” to make a move, then go with whatever house you happen to find that will fit your needs for the coming years or decades. There are actually far better options that will allow you to casually look around without formally committing to making a move or even putting your house on the market.

With Spring now being here, we often get the itch to think about a home that may better fit our sizing or location needs. One that’s bigger, one that’s smaller, everything on one floor or even something with a really nice fenced in yard. But the last thing you’d want to do is look online at the overpriced, picked through properties because you’ll get disheartened very quickly when looking at all of the rejected homes that nobody else wanted.

A much smarter approach is to make no commitment at all to making a move or not, and utilize our totally free Perfect Home Finder program whereby if we know what you are looking for, specific amenities, areas and even style of home, we can go out and find UNLISTED properties that nobody else knows are for sale.

This allows you priority access to OFF-MARKET properties so that you can take a look at them before the traditional buyers even know they are for sale, sometimes weeks before they’d ever end up on any online website.

With our proprietary marketing approach, we can often find multiple off-market homes for our preferred clients to take a look at because we have a “first peek” look at homes before they are officially listed and available to the general public.

This gives you the chance to take a look at the BEST homes without listing your current property for sale or committing to making any move at all unless you’d find an absolutely perfect property. Sometimes we’ll look at a half dozen and decide not to move at this time. In other cases, we’ll look at a few and find the perfect dream home. But you’ll never know what’s out there unless you give us a call to casually look around at the secret gems we can find for you! Give us a call and lets chat!

Building Wealth • Sellers • April 15, 2024

Keeping Your Eyes Peeled

by Darren Upp

Spring has finally sprung and you are undoubtedly seeing more and more neighbors milling around the community. The nice weather allows for afternoon walks to be more enjoyable and it’s a great chance to say hello to some of the fellow homeowners!

With all the blooming flowers, we also see several “For Sale” signs going up all over town. While you may be planning to stay in your home for the next several years, it’s still wise to keep your eyes peeled for new properties that pop on the market so you can get an idea as to what’s going on with current home values.

One common misconception that a lot of people have is that real estate values will always go up based on however long you hold it.

I often hear from clients that believe if they can’t get what they want for the total sale price of their home, they’ll just wait a couple of years until they can get that amount. This can prove to be disastrous. There are countless stories of homeowners that didn’t time the market correctly so they ended up selling their home for over $100,000 LESS than they could’ve gotten if they’d sold at a different time.

Another big misconception is that if the market slows and someone can’t get what they want for their home, they can just wait it out. Unfortunately, this generally doesn’t work out. As an example, during the last cycle, the home values peaked in 2008. So during 2009 and 2010 there were several homeowners that said “they’ll just wait a few years” to sell their home.

Over the last several decades, our cycles are often 5 to 7 years of dropping values, followed by 5 to 7 years of increasing values. So home values continuously dropped from 2008 to 2012 but then started to INCREASE in value beginning in mid-2012. That’s of no use for the owners though because it took a full 4 years to get BACK to where they were in 2008. So the value in 2008 was finally reached again in 2016 to be at a break-even point but is certainly a lot less money due to inflation over the course of those 8 years.

So be cautious in thinking you can wait a few years because statistics show that it may be 8 to 10 years before you get back to the current value you weren’t happy with in the first place!

While most of our real estate clients are happy staying right where they are for years and years (sometimes decades) it’s also wise to stay up on current values, pricing trends and the overall strength of the real estate market.

Just like owning any asset, even if you aren’t planning to sell it, you’ll want to keep up on the total value. As an example, if you own stocks, you may plan to own that portfolio forever but should still stay up on what’s going on, how the companies are being ran and anything going on within the economy that may change your thought process.

Sometimes owning a large asset is not all about how it fits you currently from a personal perspective as outside forces can mean it’s time to make some changes. That may mean refinancing, moving, doing additions to the place or any other combination of changes that may mean a better return on your investment. If I can help you with any questions, don’t hesitate to reach out. Consultations are always free!

Homeowner Tips • Sellers • March 15, 2024

Spring Is Just Around The Corner!

by Darren Upp

As I drive through the neighborhoods throughout our area, I always love seeing the difference in real estate during Springtime. It’s what homeownership is all about! You’ll see families out working in the yard, meeting on the sidewalk to catch up with neighbors and countless people out for a slow stroll with their dogs.

Around here, I’ve always found that everyone gives a friendly wave as we drive by and as I’m showing homes in the area, it’s not uncommon for them to stop and strike up a conversation with me about the house I’m showing or the real estate market in general.

Coupling this with the fact that everything is blooming and the weather is outstanding and you can easily see why Spring is one of my favorite times of year.

Statistically around the country, Springtime is a great time in the real estate market too. Everyone loves selling their home when things are bright and cheery and nothing beats that neighborhood feel you get when everyone is outside enjoying the weather. That’s why each year, you see neighboring homes popping up for sale every week and lots of people considering a move to the community.

For you as an area homeowner, one of the most important things you can do is give a friendly wave when you see people driving down the streets or getting out of their car to view a neighboring home for sale. They need to feel comfortable with a community before they’ll ever be comfortable with a house and your welcoming smile may make all the difference in the world.

Why is this important? As you know, your house is one of the most valuable assets you’ll ever own. And yes, you actually CAN affect the neighboring home values, thus increasing the value of your asset!

I’ve often set records in neighborhoods for the highest home sale price ever seen. Even if we just increase that price by $5,000 it actually means every single homeowner in the community each made an additional $5,000 in the value of their home!

Our hopes for the community this year are that everyone really spruces up their homes as best as possible, thus allowing increased enjoyment for all homeowners, more marketable homes for those that require new owners and of course increased prices for the area meaning everyone increases their net worth!

Once Spring has sprung, we will all develop our green thumb again. Let’s do something NEW with the front of our house! Let’s make it fresh and exciting! Maybe even hire a professional landscaper just to change some stuff up a little bit. It makes it so much more exciting every time you pull up to the house!

I have several people I can refer to you regardless if you need a landscaper, lawn care or anything interior or exterior with your property. We have a “Dream Team” that’s helped our clients with countless projects before so they do a great job, have fair prices and come highly recommended.

As always, my team is just a phone call or email away. Get out your work clothes and let’s start sprucing things up!

Client's Corner • Sellers • March 4, 2024

Watch Out For the Creep!

by Darren Upp

You’ve probably seen that interest rates are starting to slowly creep higher and higher. This can be a financial disaster for you if you are thinking you may want to sell your home in the next 2 to 8 years.

There’s no question that you can sell your current house for more money and buy a BIGGER house with an affordable payment now while the interest rates creep. But as they begin creeping up, it makes housing prices less and less affordable, ultimately pricing some people out of the market.

Since all mortgage qualifications are based on a monthly payment, the amount that you can afford each month will simply give you less buying power. As an example, if you can afford a $400,000 house today, that same monthly payment may only get you a $350,000 house if you wait to buy for another year or two. This is assuming that the interest rates will continue inching up as they have been for the past several months and as they are projecting.

As your real estate advisor, I owe it to you to make sure you know the importance of “forward thinking” when it comes to your housing needs. While every situation is different, the truth is that you know your family housing needs better than anyone. You can make a knowledgeable decision as to what changes may need to be made over the next 2 to 8 years. If you would anticipate a move up or a move down to another house, NOW may be the best time to do it from a financial perspective.

I’m sure you’ve always heard that the real estate market is all about TIMING. So it’s wise to think about any changes you may have in finances or family size over the next several years, then focus on the timing that will make the most sense financially.

I can help you with all real estate related questions with a free, no obligation phone consultation. You’ll never get a “sales pitch” and will receive sound, solid advice on some options that you may want to consider. Just call, text or email!

Sellers • February 20, 2024

May 15th – Remember This Date!

by Darren Upp

If you’ve ever considered selling your home, you’ve likely procrastinated about it for months and sometimes even years. It’s a big step.

Is now the best time? Will the market change? Where would we move to? These are all questions that likely pop into your head. It can be too much to consider and as we know, the confused mind says “NO!”.

A new study was recently released by Zillow which showed that they did extensive research on the very BEST time to sell a home nationwide. The results are very revealing to say the least…

The researchers found that selling a home before May 15th not only allows it to sell faster, but also sell for a lot more money. As a matter of fact, those homes were sold for one percent more than those sold after May 15th. Coupling that with the fact that they also sell 18 days faster (on average) and this means it’s a far better option to get the home sold and closed prior to that mid-May date. Nationwide, a full 1% more for your home can mean thousands of dollars in additional profit as well as a much quicker sale time.

While this was a national study (rather than local) it certainly shows some facts you will want to consider when looking at a possible move.

One of the most important things noted within their research was marketing time. It reveals that it can take 45 to 90 days to find the right buyer for your home, so you’ll need to allow your agent some marketing time in order to get the property “in contract” and finally closed prior to that magic May 15th date revealed in the study.

Obviously, waiting until April or May to list your home may be too late as there’s little chance it would close by that time.

We’ve always known that price is a function of supply and demand. With so many of your neighbors listing their home for sale during late Spring and once children get out of school for the Summer, it simply drives values down due to the flood of homes available. If you’ve considered selling, be sure you beat the rush!

The Coming Recession!

When Is Best Time To Sell A Home?

How Far Is Starbucks From You?

Increasing The Value Of Your Home

You’ll Probably Need Maintenance!!

The Proper Way To Think About Moving

Keeping Your Eyes Peeled

Spring Is Just Around The Corner!

Watch Out For the Creep!

May 15th – Remember This Date!

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