Movers Reveal: 5 of the Dumbest Mistakes They’ve Seen People Make

We all do seriously inane things when we’re moving. The first time I moved into an apartment alone, I decided I could save 400 bucks by doing it all myself. And I would have, too, if I hadn’t dropped a desk on my bare toe right at the start (that’s right, folks—I was also moving in flip-flops). In the end, not only did I not save that cash, but the whole thing cost me about $600 in medical bills.

Maybe you’ll have better luck (or common sense). But here’s the thing: When you’re moving, it’s surprisingly easy to make dumb and costly mistakes. Just ask these moving companies, who’ve seen the good, the bad, and the stupid.

1. Forgetting to pack

“Clients aren’t always prepared. It literally happens daily. You would be surprised if you knew how many clients we have found still asleep when we rang the doorbell. Recently, we received a call from a potential client on a Friday afternoon for the following Monday. They said they’d have everything packed and ready to go. We knew better, but we booked the move and showed up Monday. And yes, not one single box was packed.”—Derek Mills, co-founder of Square Cow Movers in central Texas

If you leave anything until the last minute, you’re setting yourself up for disaster.

“It adds exponentially to the stress level for the client and movers,” Mills says. And when you’re under stress, something is bound to go wrong. Save yourself the headache, and be totally prepared the night before.

2. Packing in the least efficient way possible

“One customer of ours attempted to save money by packing all of their belongings in plastic bags. Think about an entire kitchen’s worth of dishes and stemware in Hefty bags. Not good! Another customer loaded their dresser drawers and armoire with books, photos and other assorted sundries.”—Aaron Steed, CEO and founder of Meathead Movers in California

The smarter way: If you properly wrap your belongings, you’ll not only keep them from breaking, but you’ll keep your sanity intact as well.

“Take note: Boxes and protective material like bubble wrap and newsprint are the most effective means of carrying, transporting, and protecting one’s personal items,” Steed says. But don’t attempt to use furniture to store heavy items: The furniture can break under the stress. Empty those drawers, and pack the contents in boxes.

3. Bringing the drama

“About two years ago, one of our movers showed up to load a truck for a woman who had booked a move well in advance. The day of the move, we show up to load her truck, and it wasn’t there. No one was there to answer the door and no one returned our phone calls.

“After we wait for 20 minutes, hoping for a callback, she opens the front door and she’s heavily intoxicated. She then asked us to drive her to a truck rental agency, which we did. After we secured her truck and finished loading all her items, her husband comes home and begins physically and verbally panicking because he claimed the things we loaded were all his! This resulted in a lengthy yelling match, with one telling us to load certain items and the other telling us to unload the same items—simultaneously. Nothing got moved that day.”—Mike Glanz, CEO of HireAHelper

The smarter way: If the movers have to hang around while you sort things out, you’ll likely be charged. Instead, get the personal stuff out of the way long before they show up … and we don’t just mean personal belongings.

4. Shipping a fully packed car

“A mistake customers routinely make [when transporting their car in an interstate move] is packing their vehicles with personal items. People sometimes get the idea they can use their car as a giant suitcase, and this will not work. Auto transporters are only licensed to carry automobiles, not freight. Also, these carriers have to go through weight stations going across the country. If they are overweight, they will get fined and can pass that fine down to the customer with the packed car.”—Brett Deinum, manager at AAcrossUSA Auto Transport

The smarter way: You can’t use your car as a way to transport your boxes, but that doesn’t mean you have to clean it out entirely, either.

“We have found that most carriers will let the customer get away with around 50 pounds of personal items secured in the vehicle,” Deinum says.

5. Not taping both ends of your boxes

“One situation that comes to mind happens quite often, but I remember this one move in particular because of the scale. The client we were moving went to great lengths to excessively tape the tops of their hundreds of boxes … but completely forgot to tape the bottoms. Of course, as soon as the first boxes were picked up, the bottoms opened up, and all the contents unloaded onto the floor. The associate moving the boxes simply turned them over and put the contents back in, hundreds of times. And we all know, time is money!”—Ashley Thibodeaux Herbert, COO of Bart’s Office Moving, Inc. in New Orleans, LA

The smarter way: Movers will be happy to fix your boxes for you, but it’ll cost you. Save yourself money, and test-lift a few boxes before the movers get there. And for goodness sake, tape up all of the sides!

Source: Realtor.com, Angela Colley
http://www.realtor.com/advice/move/dumbest-mistakes-movers-see/?iid=rdc_news_hp_carousel_theLatest

California housing market to see modest gains in 2017, Realtors forecast

California’s housing market will post modest gains next year amid tight supplies and the lowest housing affordability in six years, the California Association of Realtors forecast Thursday.

Sales of existing single-family homes – which make up about 68 percent of the overall market – are projected to rise 1.4 percent in 2017 to 413,000 transactions.

Next year’s small gain will follow a projected 2016 sales drop of 0.4 percent to 407,300 deals, the forecast said.

Meanwhile, the median house price – or price at the midpoint of all sales – is projected to rise 4.3 percent to $525,600. That’s the smallest percentage gain in six years.

By comparison, 2016 house prices are projected to be up 6.2 percent to $503,900 by the end of December.

“The net result will be California’s housing market posting a modest increase in 2017,” said Leslie Appleton-Young, the Realtor association’s chief economist. “The underlying fundamentals continue to support overall home sales growth, but headwinds, such as global economic uncertainty and deteriorating housing affordability, will temper stronger sales activity.”

Housing affordability will fall as price gains continue to outpace pay raises.

Just 29 percent California homebuyers will be able to afford a median-priced house next year, the association predicted. By comparison, more than half the buyers could afford the median-priced home in 2011-12.

In Southern California, house sales are projected to be virtually unchanged this year and next from 2015’s sales pace, the forecast said. Sales are projected to rise 0.4 percent this year and 0.7 percent next year.

The median house price in the region is projected to be up 5.4 percent by the end of 2016 and to rise 3.2 percent to $501,500 next year.

The state’s hottest housing market – the San Francisco Bay Area – will see larger price jumps amid falling sales as buyers flee to more affordable markets. The forecast projected sales declines of 6.4 percent and 5.6 percent in 2016 and 2017.

Bay Area prices, meanwhile, are forecast to increase by more than 6 percent both this year and next, rising to $833,600 in 2017.

Mortgage interest rates are forecast to rise next year, but not by much. The average rate for a 30-year fixed mortgage is expected to be 4 percent in 2017, compared to this years near-record low of 3.6 percent

Source: San Jose Mercury News, Jeff Collins
http://www.mercurynews.com/2016/09/29/california-housing-market-to-see-modest-gains-in-2017-realtors-forecast/

7 Reasons Fall Might Just Be the Best Time to Buy a Home

Spring and summer usually get all the real estate glory with lofty accolades as the best time to buy a home—and, of course, the busiest. Meanwhile, their seasonal sibling, fall, often gets tossed to the leaf pile by potential buyers who might think autumn is just about haunted houses and turkey dinners rather than house hunting.

But surprise! Fall is not only a great time to buy a home, it might also be the best season to find the perfect property (and not just because you can browse the listings while cupping a pumpkin latte).

Read on to discover the many reasons.

Reason No. 1: Lower home prices

The best month to snag a deal when buying a home? October. This isn’t just some random guess; it’s based on RealtyTrac’s analysis of more than 32 million home sales over 15 years. The resulting data showed that on average, October buyers paid 2.6% below estimated market value at the time for their homes.

For a house that would normally be $300,000, 2.6% translates into a $7,800 discount. Those savings are nothing to sneeze at, so bargain hunters should get hopping once autumn rolls around. (For an even better deal, aim for Oct. 8, when buyers get a home, on average, at 10.8% below estimated market value.)

“For buyers looking for a better deal, fall is a great time to make offers,” says New York City Realtor® Joanne R. Douglas. (In case you’re wondering, the worst month for buyers is April, when homes sell for 1.2% above estimated market value. The worst single day is Jan. 19, with an average 9.6% premium.)

Reason No. 2: Less competition

Like a beach after Labor Day, the realty market clears out as the days turn crisp. Most summer buyers have already found a home, meaning a fall buyer will have way less competition for the available houses on the market, says Bill Golden of Re/Max Metro Atlanta Cityside. And don’t worry about those buyers who didn’t close before August, either.

“Many folks will drop out of the market until after the new year,” says Golden, giving a fall buyer even greater room to roam at open houses. There may not be as many properties to choose from, but as Golden says, “a little patience and perseverance could reap big rewards.”

Reason No. 3: Worn-out home sellers

Say hello to your little friend, leverage. Sellers who have their homes on the market in the fall “are generally people who need to sell, which can make for better negotiations for the buyer,” says Golden. And if a home you have your eye on has been on the market all summer, you’re really in the driver’s seat as far as making an offer the seller can’t refuse. The longer a home sits on the market, the more negotiating power the buyer wields.

Reason No. 4: The holidays are around the corner

Not only are most home sellers worn out after the summer selling season, they’re also caught between a real estate rock and a hard place in that the holidays are barreling down on them. If they want to move and settle down in time to host Thanksgiving and put up their Christmas lights, they’ll have to close, fast. So use this preholiday window to your advantage by offering to help them vacate fast if they cut you a deal.

Reason No. 5: Year-end tax credits

No one wants to buy a home purely to make their accountant happy. But there’s a sweet added incentive to closing on a home at the end of the fiscal year. Come the following April 15, you might be able to take some nice tax deductions, including closing costs, property tax, and mortgage interest, to offset your taxable earnings.

Reason No. 6: More quality time with your real estate team

As the year comes to an end, fewer buyers also means you should have the full attention of your real estate agent, mortgage broker, real estate lawyer, and everyone else on your house hunting team. You can take your time to ask all those questions you have about earnest money, due diligence, title transfers, and more without feeling like you’re horning in their busiest season to turn a buck.

Reason No. 7: Home improvement bargains

Once you close on that home you found in the fall, you may want to upgrade your appliances. Luckily, December is when major appliances—refrigerators, stoves, washers, and dryers—are at their very cheapest, according to Consumer Reports. It’s also the best time of year to buy cookware and TVs.

So once you’re settled in (and provided you have any money left), get ready to renovate!

Source: Realtor.com, Margaret Heidenry
http://www.realtor.com/advice/buy/reasons-fall-is-the-best-time-to-buy-a-home/?is_wp_site=1

LOL! Why you shouldn't For Sale By Owner

They say you never get a second change to make a good first impression. Well, professional marketing is a must when selling your home, and it is the professional marketing that often makes the difference is getting your home sold in a market where your property is competing against many others. An experienced Realtor can provide that professional marketing and get your home sold for Top Dollar!

How to Buy a Home Without a 20% Down Payment

One of the first things you’ll hear when you start considering homeownership is that you’ll need a hefty chunk of change upfront. Most financial planners recommend putting down a 20% down payment. On the current national median home price of $306,700, that comes to $61,340. And that’s serious money.

But if you don’t happen to have that kind of cash on hand, you’re not alone. Quicken Loans Vice President of Capital Markets Bill Banfield notes that the most common barrier to homeownership isn’t being able to afford the monthly mortgage payment—it’s being able to save the down payment.

Thankfully, there are other ways to go about buying a home that don’t require you to put 20% down, like the following:

Federal Housing Administration loans

The Federal Housing Administration requires a down payment of only 3.5%. Compared to 20%, that’s pretty sweet—but these government-backed mortgages aren’t for everyone. To be eligible, you’ll need a decent credit score, of at least 580. Scores as low as 500 may qualify, but then you’ll need to put 10% down.

Another stipulation is that you’ll have to pay mortgage insurance, an extra fee that’s required on home loans where less than 20% has been put down. There are also limits on how much money you can borrow, with a minimum and maximum between 65% and 115% of the median home price in an area—on average between $271,050 and $625,000. Still, in spite of these restrictions, these loans are plentiful and a boon to home buyers, particularly those who are entering the housing market for the first time.

VA loans

If you or your spouse has served in the military, Uncle Sam has your back! You may quality for a Veterans Affairs loan, which requires 0% down and, unlike FHA loans, no mortgage insurance, since the Department of Veterans Affairs insures the loan on your behalf.

To get a VA loan, you’ll need to present a certificate of eligibility, proving one of the following requirements:

• 90 consecutive days of active duty during wartime (including from Aug. 2, 1990, to the present; see other qualifying dates), or 181 days during peacetime.
• six years in the National Guard member or reserves.
• You were wounded in service, even if you served for less than the specified time.
• You’re a widow or widowers of a member of the military forces who died in action or from injuries suffered while on duty.

USDA rural development loans

The United States Department of Agriculture also offers 0% money-down loans to home buyers who qualify as having low or moderate income. And the threshold for “moderate” can be quite high depending on where you live; in San Francisco, it amounts to $141,000 for an individual.

And while eligible properties are typically in rural regions where space isn’t at a premium, this doesn’t necessarily relegate you to the sticks. A full 97% of the United States is covered under USDA loans; check whether any address or area is covered at USDA.gov.

State and local home buyer programs

The federal government isn’t the only one offering down payment assistance. In fact, there are 2,290 down payment programs across the country that offer financial assistance, kicking in an average of $17,766, according to one study.

Generally, these programs have income limitations and require you to take a home-buyer class. Find programs in your area on the National Council of State Housing Agencies website, or at the Down Payment Resource, which offers a calculator that can show you what you may be eligible for.

Credit unions

You may be able to get a mortgage with no down payment or a limited down payment from a credit union—a nonprofit banking cooperative whose members can typically borrow at lower rates.

In order to qualify, you will probably have to meet limited income requirements—such as a maximum of 80% of the median area income. You’ll also need a decent credit score. But the policies can vary widely, so check. For instance, the San Francisco Federal Credit Union recently offered 100% financing for up to $2 million to borrowers with an average credit score of 747 and $219,000 income.

How to find down payment help in your area

Start by talking with a lender, mortgage broker, or your Realtor to determine not only what home you can afford, but also what programs and financial assistance you might be eligible for. You can also see how much home you can afford by punching your numbers into realtor.com’s mortgage calculator.

Source: Realtor.com, Nichole Odijk DeMario
http://www.realtor.com/advice/finance/20-percent-down-payment-for-a-home/

7 Reasons to Work With a REALTOR®

7 Reasons to Work With a REALTOR®

REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers:

1. Ethical treatment. Every REALTOR® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a REALTOR®’s client, you can expect honest and ethical treatment in all transaction-related matters. The first obligation is to you, the client.

2. An expert guide. Buying a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. Also, there’s a lot of jargon involved, so you want to work with a professional who can speak the language.

3. Objective information and opinions. REALTORS® can provide local information on utilities, zoning, schools, and more. They also have objective information about each property. REALTORs® can use that data to help you determine if the property has what you need. By understanding both your needs and search area, they can also point out neighborhoods you don’t know much about but that might suit your needs better than you’d thought.

4. Expanded search power. Sometimes properties are available but not actively advertised. A REALTOR® can help you find opportunities not listed on home search sites and can help you avoid out-of-date listings that might be showing up as available online but are no longer on the market.

5. Negotiation knowledge. There are many factors up for discussion in a deal. A REALTOR® will look at every angle from your perspective, including crafting a purchase agreement that allows enough time for you to complete inspections and investigations of the property before you are bound to complete the purchase.

6. Up-to-date experience. Most people buy only a few homes in their lifetime, usually with quite a few years in between each purchase. Even if you’ve done it before, laws and regulations change. REALTORS® handle hundreds of transactions over the course of their career.

7. Your rock during emotional moments. A home is so much more than four walls and a roof. And for most people, property represents the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on the issues most important to you.

Souce: RealtorMag
http://realtormag.realtor.org/sales-and-marketing/handouts-for-customers/for-buyers/7-reasons-work-realtor

Why that million-dollar home is sitting on the market

By the time it sold last week for $4.8 million, a six-bedroom lakefront mansion in Winnetka had been on the market for most of the past six years and the sellers had already moved to California.

They're not the only high-end sellers who've had to wait: Luxury-priced homes all over the city and suburbs are taking a long time to sell.

Homes priced at $1 million and up are selling slower on average this year in 18 of 22 expensive Chicago neighborhoods and suburbs, according to Midwest Real Estate Data. Luxury homes are selling faster in just four locations: Streeterville in the city and in the suburbs of Evanston, Glencoe and Highland Park.

Agents blame an oversupply in the price range, reluctance of homeowners to head for the suburbs and the protracted struggle to clean up the financial mess in Illinois and Chicago.

"We've got these high property taxes, sales taxes and income taxes, and these crazy pension problems we'll never be able to pay for," said John Phillips, a Jameson Sotheby's International Realty agent in Winnetka. "Why buy an expensive house when you can buy a smaller one and use the rest of the money on something else, like a second home in another state?"

In Deerfield, where the slowdown has been steepest, the average home that went for $1 million or more in the 12 months ended July 31 sold in 233 days, up from 144 in the year-earlier period, MRED's data show.

Househunters in Deerfield "are seeing they can get a better deal in Highland Park," said Margie Brooks, a Baird & Warner agent with high-end listings in both Deerfield and Highland Park, to the east. "They get more of a downtown and the beaches."

Highland Park's better deals are available in part because so many homes are for sale there, which leads to price wars. There are 91 homes on the market at $1 million-plus in Highland Park, almost twice the 46 upper-end homes that sold in the previous year.

That should mean that Highland Park's high-end homes would be selling slower as well, but they're not.

In the city, the biggest slowdown is in North Center, where $1 million-and-up homes are selling in an average of 116 days this year, up 41 percent from the year before. There were 122 sales last year and 116 this year.

"It's because there's so much supply on the market," said Sean Glascott, an @properties agent. He sold a newly built home on Waveland Avenue in North Center that was on the market for 18 months before selling in June for slightly over $1.8 million.

While the 5,000-square-foot home was under construction, "there were 10 other homes being built in the immediate area, all within a couple hundred thousand dollars of ours, and we knew about more that were coming," Glascott said.

SALES UP

Although the time it takes to sell million-dollar-plus homes has lengthened this year, more of them are selling. This year, a combined 1,711 high-end homes have sold in the 22 areas, according to MRED, an increase of 3 percent from a year earlier.

Buyers may be coming for the prices. The Waveland Avenue home that Glascott sold started out at just over $2 million but eventually went for 13 percent less.

"We knew it was time to let this thing go before we were competing with 20 houses," he said.

Sales have slowed in city neighborhoods from the South Loop up to Lincoln Square. Only Streeterville has speeded up, but not by much. Million-dollar homes are selling in 140 days, down from 143 last year. But at the same time, the number of Streeterville sales is down 20 percent at 75 this year.

In the market overall, homes at all prices are selling faster than they were a year ago, according to MRED. While a single regional figure is not available that corresponds with the time period in the million-dollar study, MRED's end-of-August report showed that everywhere but Lake County had homes selling faster year-to-date than in the first eight months of 2015. In Lake County, they were selling 4 percent slower.

Evanston stands out as the bright spot for million-dollar sellers. Luxury homes are selling 35 percent faster—in 92 days this year, down from 142—and the number of sales, 45, is up 20 percent from last year.

"Evanston has always been a mini-Chicago," said Debbie Magnusen, an @properties agent who works there. "It has restaurants and culture; and if you want to go into the city easily, you can."

'THEY REALLY DON'T WANT TO GO FARTHER NORTH'

That's always been true, but Magnusen said it's become even more important in recent years as two-earner couples try to stay close to job centers and raise kids at the same time.

"They really don't want to go farther north," said Magnusen, who said listings in next-door Wilmette are getting considerably fewer showings than those in Evanston. High-end sales are taking 63 percent longer in Wilmette, an average of 101 days, up from 62 last year.

Agents in other, farther north suburbs have been saying the same recently: that younger affluent adults don't want to make longer commutes.

Phillips, the Jameson Sotheby's agent, said keeping to a shorter commute is a pragmatic choice the younger generation is making, in part because in these days of slow price recovery,

When home values "were going up 4 or 5 percent a year, you had the fun of living in it and made money at the end," Phillips said. "Now you can have a lot more fun with that money somewhere else, like Florida."

Source: Crain's Chicago Business, Dennis Rodkin
http://www.chicagobusiness.com/realestate/20160913/CRED0701/160919978/why-that-million-dollar-home-is-sitting-on-the-market