Blog :: 2017

2017 Mid Year Single Family Sales Trends for Suburbs North of Boston

 

The market this year continues to favor sellers with less inventory, less days on market and as a result of strong buyer demand, higher median sales prices.

We have seen a spike in offers and prices early in the spring season.  Currently, the market remains strong, however buyer competition is less fierce, and buyers are getting some breathing room.

 

If you are considering a move, and would like to understand what time of year would work best please contact us today.

 

Get your homes instant estimated value, and search all MLS listings at TernulloRealEstate.com

 

Have great summer!

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The Best Paint Color to Sell a Home

Lure potential buyers with a simple and clean palette. Shades of white and off-white are the top colors for a quick home sale, Jody Finglas of Finglas Painting in Ossining, N.Y., told USA Today.

“White is the foundation that anchors the home,” adds Friley Saucier, a broker-associate with Sotheby's International Realty in Naples, Fla. “This is absolutely what is most requested when I’m working with home buyers.”

Finglas says less is more. “We’re seeing a lot of requests for lighter, brighter colors,” he notes.

When working with a white backdrop, the trick is to add in color through the furnishings and accessories, Finglas says. He says selecting the right shade of white paint isn’t easy. “A white kitchen can mean 40 different colors,” Finglas says.

Homeowners should still bring home paint swatches, says Dwayne Bergmann of Dwayne Bergmann Interiors in Fort Myers, Fla.

“Whites can have a more blueish hue or more of a brown or even pinkish hue depending on the exact lighting,” Bergmann says. “Even a pure white is going to look different.”

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Buying Is Now 33.1% Cheaper Than Renting in the US

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!

Other interesting findings in the report include:

  • Interest rates have remained low and, even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
  • With rents & home values moving in tandem, shifts in the ‘rent vs. buy’ decision are largely driven by changes in mortgage interest rates.
  • Nationally, rates would have to reach 9.1%, a 128% increase over today’s average of 4.0%, for renting to be cheaper than buying. Rates haven’t been that high since January of 1995, according to Freddie Mac.

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let's get together to find your dream home.

 

Are Home Prices Approaching Bubble Territory?

As home values continue to rise, some are questioning whether we are approaching another housing bubble. Zillow just reported that:

“National home values have surpassed the peak hit during the housing bubble and are at their highest value in more than a decade.”

Though that statement is correct, we must realize that just catching prices of a decade ago does not mean we are at bubble numbers. Here is a graph of median prices as reported by the National Association of Realtors (NAR).

Are Home Prices Approaching Bubble Territory? | MyKCM

We can see that prices rose during the early 2000s, fell during the crash and have risen since 2013.

However, let’s assume there was no housing bubble and crash and that home prices appreciated at normal historic levels (3.6% annually) over the last ten years.

Here is a graph comparing actual price appreciation (tan bars) with what prices would have been with normal appreciation (blue bars).

Are Home Prices Approaching Bubble Territory? | MyKCM

Bottom Line

As we can see, had there not been a boom and bust, home values would essentially be where they are right now.

 

Why Working with a Local Real Estate Professional Makes All the Difference

If you’ve entered the real estate market, as a buyer or a seller, you’ve inevitably heard the real estate mantra, “location, location, location” in reference to how identical homes can increase or decrease in value due to where they’re located. Well, a new survey shows that when it comes to choosing a real estate agent, the millennial generation’s mantra is, “local, local, local.”

CentSai, a financial wellness online community, recently surveyed over 2,000 millennials (ages 18-34) and found that 75% of respondents would use a local real estate agent over an online agent, and 71% would choose a local lender.

Survey respondents cited many reasons for their choice to go local, “including personal touch & handholding, longstanding relationships, local knowledge, and amount of hassle.”

Doria Lavagnino, Cofounder & President of CentSai had this to say:

“We were surprised to learn that online providers are not yet as big a disruptor in this sector as we first thought, despite purported cost savings. We found that millennials place a high value on the personal touch and knowledge of a local agent. Buying a home for the first time is daunting, and working with a local agent—particularly an agent referred by a parent or friend—could provide peace of mind.”

The findings of the CentSai survey are consistent with the Consumer Housing Trends Study, which found that millennials prefer a more hands-on approach to their real estate experience:

“While older generations rely on real estate agents for information and expertise, Millennials expect real estate agents to become trusted advisers and strategic partners.”

When it comes to choosing an agent, millennials and other generations share their top priority: the sense that an agent is trustworthy and responsive to their needs.

That said, technology still plays a huge role in the real estate process. According to the National Association of Realtors, 95% of home buyers look for prospective homes and neighborhoods online, and 91% also said they would use an online site or mobile app to research homes they might consider purchasing.

Bottom Line

Many wondered if this tech-savvy generation would prefer to work with an online agent or lender, but more and more studies show that when it comes to real estate, millennials want someone they can trust, someone who knows the neighborhood they want to move into, leading them through the entire experience.

 

9 Ways to Make Your Home More Photogenic

How photogenic is your home? Perhaps the question has crossed your mind in this snap-happy, hygge-obsessed Instagram era. Whether you are selling your apartment or listing it on Airbnb, a camera-ready home is a must. An inviting photograph can draw in people scrolling through listings online; a messy or disheveled room will quickly turn them off.

To find out how to make your home look as if it belongs in a shelter magazine, we reached out to professional stagers and interiors photographers for their advice. Here are some of their suggestions for creating a picture-perfect home.

CLEAN AND DECLUTTER “Don’t be afraid to strip down 70 percent of what normally lives on any surface,” said Laure Joliet, a Los Angeles-based photographer whose work has been published in The New York Times, Dwell and Domino. “Instead of having lots of little things along a countertop or table, have one bold vessel or large plant, or a trio of objects that read as one whole. This helps anchor the photo and keeps the space feeling serene.

Clear away family photos, plants and knickknacks from the windowsills, coffee table, piano top and other surfaces. In the kitchen, remove towels, refrigerator magnets, sponges, paper towels, dish detergents, mats and most small appliances. Throw the mail piling up on the counter in the junk drawer if you need to. Stray items can be stuffed in a closet, under the bed or even hidden on the side of the room the camera won’t capture. (Of course, if you are planning on having an open house, more intensive measures are in order.) In the bathroom, open the shower curtain, remove all toiletries and wastebaskets, and close the toilet lid. Fold towels in thirds the long way, then fold in half over the towel bar.

LET IN THE LIGHT Wash your windows, open the curtains and pull up the blinds. “Natural light allows for depth in the shadows and highlights in the window, which makes a room look the way it feels,” Ms. Joliet said. “It’s more human and more relatable. Also, because shelter magazines are often shot this way, it can make your real estate photos look that much more high-end and designed.” And if your fireplace is in good working order and the season is right, light it up.

STEAM THE BED “No one wants to look at a wrinkly, unkempt bed,” said Cheryl Eisen, the president of Interior Marketing Group, which specializes in staging and designing luxury real estate. For a crisp-looking bed, Ms. Eisen uses a hand-held steamer to rid the pillows and comforter of any wrinkles. “We typically start with two stacks of two freshly steamed pillows laid flat, with long pillows on the bottom and standard size on top,” said Ms. Eisen, who prefers soft textures and muted colors rather than patterned spreads. “To create the appearance of a wider bed, match the edge of the pillows with the edge of the bed.The pillowcase openings should lie outward.” Center a throw pillow against each stack of pillows and prop it up with a soft karate chop in the middle, she added, “to create a showstopping bed.”

ADD ACCENTS A pop of color in the way of flowers or throw pillows is always welcome. “Instead of a fussy bouquet, a vase filled with one type of flower, or greens, is best,” said Ms. Joliet, who recommends eucalyptus branches. “I think everyone is tired of seeing a bowl of green apples, so try some simple flowers or greens in a vase instead.”

For a perfectly placed throw, “grab the middle of it and hold it up so that the throw cascades evenly down, and then place it diagonally at the foot of the bed, with the point up toward the long side of the bed and the fringes hanging slightly off the front,” said Donna M. Dazzo, president of Designed to Appeal, a home-staging company. “You can also place it on a bench in a bedroom. Use the same trick with holding it in the middle: Lay it across the bench diagonally, so that the pointed tip is on the bench or off the back of the bench, and the fringe is hanging off the lower left corner.” Another option: Drape the throw over the top or across an arm of a chair, she said, tucking the bottom behind a throw pillow or allowing the throw to cascade off the arm.

LOWER THE ARTWORK “We tend to place our art a little bit lower than maybe somebody would in personal use, because in a photo, if you place it too high, the ceiling looks very low,” said David C. Salvatore, creative director for Edge Mid-Century Designs, a staging and vintage furniture company in Clifton, N.J. “Everyone loves high ceilings — and certainly, if you have the ceilings, you need to put in a huge vertical piece” to show off the height.

What if your ceiling is low? Then you should not only hang your art lower, said Rich Fostek, president of Edge Mid-Century Designs, but “use pieces that are more horizontal than vertical.”

CONSIDER YOUR PETS So as not to alienate potential buyers who are allergic to hamsters or do not like dogs, most real estate professionals recommend keeping pets and their accouterments out of photos, no matter how adorable your dog is. But a furry friend can also add an element of fun to an otherwise staid photo. If you decide to include a pet, consider the color of its coat. Some dark-colored pets end up looking like dark blobs on sofas or rugs, depending on light and furnishings. But always hide chew toys, feeding bowls, litter boxes, pet beds and cages.

BOOST THE CURB APPEAL Rake leaves off your lawns, remove any trash or recycling bins from view, and prune overgrown trees, “especially if they obscure the view of the house,” said Alberto Lau, a retired architect with a second career as an architecture, interiors and real estate photographer in San Diego. “Take the cover off the barbecue grill unless it is hopelessly rusty, in which case it’s better to move it off the frame of the photo.”

 

Experts are divided about including pets in photos, but they agree on hiding the toys and food bowls. 

Also, clear any cars from the front of the house and driveway. “If necessary, place cones or signs requesting others not to park in front of the house,” Mr. Lau said. If you live in the city, try to schedule the photo shoot on a day that street cleaning is happening, to reduce the number of cars and trucks in front of your building. And if your house has a pool, be sure to uncover it and turn on any hot-tub jets.

DON’T WORRY ABOUT THE WEATHER “Weather doesn’t matter as much as widely believed,” said Jane Beiles, who specializes in interiors and architectural photography and has been a regular contributor to The New York Times since 2013. “A good photographer will figure out the best shots in any conditions. For example, when I have posted the same pool house on social media, I had just as much positive feedback to the rainy-day image as I did to the classic twilight shot or a sunny daylight shot,” she said.

But too much sun can pose a challenge. “On sunny days, every flaw — whether it be a wall, the floor, every speck of dust — gets more pronounced with harsher light, and is less flattering to the apartment,” said Michael Weinstein, the founder of MW Studio and a real estate photographer for more than 20 years who works with major New York City brokerage firms like Halstead Property and the Corcoran Group. “Oftentimes, I prefer to shoot on cloudy days,” he added, noting that “soft light tends to make the room feel more calm and soothing, and imperfections are less pronounced.”

BRING IN A FRESH EYE “Too often, the worn carpet or scuffs on the walls are invisible to home sellers, because these become part of the house and they don’t even see them anymore,” said Ms. Dazzo of Designed to Appeal, who recommends bringing “an honest friend” in for a walk-through. “I once did a staging consultation and asked the homeowner whether the blue plastic on the foyer ceiling was covering something. She said, ‘What blue plastic?’”

It turned out that the homeowner had covered up a fire alarm years earlier, because it went off every time she cooked. “She came into her home every day and stopped seeing it,” said Ms. Dazzo, who noticed it right away. “How could you not?” she added. “It’s blue!”

 

Check Yourself: 7 Home Maintenance Tasks You Should Tackle in May

We've been fantasizing about it for months, and finally warmer weather has arrived. We know: You just want to fire up the grill and start working on your tan—we do, too! But before you can kick back in your hammock (or in your pool on your giant patriotic bald eagle float, if that's your thing), there are a few tasks you’ll need to tackle.

And you can bet they're all outside.

“The old adage ‘April showers bring May flowers’ rings true and makes May prime time for landscaping and lawn care in most of the country," says Missy Henriksen, vice president of public affairs for the National Association of Landscape Professionals.

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But it goes beyond gardening and yard work. Now's the last chance to take care of all that winter wear and tear and transform your home's outdoor space into something worthy of the host with the most.

The good news? We're here to make it as quick and easy on you as possible—with our handy checklist of home maintenance chores, you can knock them out and get back to that pool float ASAP. We’ve provided tips for doing each task faster and easier—or with the help of a pro.

1. Inspect brick and stone patios and walkways

Don't let your brick and stone walkways fall through the cracks.

Don't let your brick and stone walkways fall through the cracks.

Task: Freezing temperatures can wreak havoc on hardscape surfaces made of loose (unmortared) brick, stone, and concrete paving materials. Check to see if frost heave and erosion have caused pavers to shift, rise, or sink. You’ll want to fix any unevenness for safety as well as aesthetic reasons.

Shortcuts: Repair hardscape surfaces using a wheelbarrow filled with playground sand and a sturdy trowel. Pry up displaced pavers, smooth and even out the bed with fresh sand, and replace the paver.

Call in the pros: This is a good job for a handyman. Expect to pay $30 to $60 an hour, depending on your location.

2. Feed your lawn

Task: After a wet spring, your lawn might be looking quite rich and lush. Since Mother Nature did the hard work, you can sit back and relax, right? Not so fast. Grass loves nutrients, so now's the time to add high-nitrogen fertilizer to help suppress weeds and keep your lawn looking great all summer.

Shortcuts: A push-powered broadcast spreader makes quick work of fertilizing your lawn. You’ll find spreaders suitable for an average suburban lawn for $35 to $100. If you have a cooking compost pile, you can substitute home-grown compost for commercial fertilizers.

Call in the pros: A lawn care company will spray on a chemical fertilizer for about $40 an application.

3. Repair wood fences and gates

Task: Cycles of cold and wet weather cause wood to move, twist, and warp. That can make garden gates fall out of alignment, and can cause fence pickets to loosen or fall off. Check for signs of loose fencing, and fix sagging gates.

Shortcuts: A cordless battery-powered nail gun ($250) makes quick work of refastening pickets and fence supports. Use only galvanized nails for outdoor work. Use a power drill fitted with a screw tip or a hex driver to remove or tighten loose screws and bolts in gates.

Call in the pros: This is a good job for a handyman. You’ll pay $30 to $60 an hour, depending on your location.

4. Mulch flower and vegetable beds

You'll be mulch happier in the long run if you care for your gardens now.

You'll be mulch happier in the long run if you care for your gardens now.

Task: Prevent evaporation and help keep weeds in check by insulating planting beds with 2 to 4 inches of mulch.

Shortcuts: Set aside a mulching day, and have a landscaping service deliver bulk mulch and dump it where you can get to it easily (like your driveway). Plan on 1 cubic yard of mulch to cover 100 square feet, with mulch 3 inches deep.

Call in the pros: A landscaping service will put in the mulch, but it'll cost you—to the tune of $250 to $560 for 500 square feet, depending on your location.

5. Wash windows

Task: As your yard takes shape and your gardens come into full bloom, you’ll want to see everything clearly. It's time to wash away winter’s dirt and grime from your windows.

Shortcuts: Have a partner clean the outside while you do the inside of the same window. That way, you can identify which side of the glass contains lingering streaks and smudges, and get rid of them on the spot. Plus, who wants to clean alone?

Call in the pros: In addition to cleaning the glass, a professional window washer will remove and clean screens and remove accumulated dirt from sliding tracks for $2 to $7 per window.

6. Get your grill in gear

It's time to get all up in your grill's grill.

It's time to get all up in your grill's grill.

Task: Nobody wants a rack of ribs with last year's grill gunk on them. Before you fire up the ol' barbecue, make sure your grill is clean and that any gas hoses and connections are secure.

Shortcuts: No matter what kind of grill you have, invest in a grill brush or other coarse cleaning brush, remove the grates and metal plates beneath them, and soak them in hot soapy water for five to 10 minutes. Then scrub hard. To rinse, spray them with the hose.

Cover the area where the grates usually go with foil, and use a stiff grill brush to clean grime from the hood and inside walls. Use a cleaner specifically designed for your grill's surface (e.g., stainless steel, porcelain, or cast iron), and reassemble all parts.

Call in the pros: There are professional grill cleaners who will take your barbecue from slimy to spotless, but it will cost you the equivalent of a few porterhouse steaks. This Denver cleaning service offers quotes from $185 to $279.

7. Make sure your AC is cool

Task: Now's your last chance to double-check your air-conditioning unit and make sure it's in good working order before the mercury starts to rise.

Shortcuts: Hook up a garden hose and spray the outside of the condenser to remove any dust that's settled on the unit and connections. (Yes, dust can affect your AC's effectiveness.) Don’t use a brush, and be careful if pressure washing—you could damage or bend the fins. Make sure to change the filter, too.

Call in the pros: Having a pro service your AC system costs $100 to $250 and includes cleaning the condenser and lubricating the fan motor.

the psychology of color

How to Use Color to Influence Your Mood and Productivity

WRITTEN BY BLAKE MILLER

The five senses are an incredible thing. Smell and taste are two of the most powerful tools at evoking emotion. But sight must not be forgotten. After all, what you see can have an incredible impact on how you feel. Even more so, color can inevitably influence how you feel on an everyday basis without you ever really noticing. Which is exactly why incorporating the most appropriate hues into your own home can have a profound effect on how you feel (or would like to feel) while completing a specific task. 

“Color can have a tremendously powerful influence on people’s lives,” explains Sally Augustin, PhD, an environmental/design psychologist and the principal at Design With Science. “I see a lot of people who are scared of it, who create one white space after another.” But, she says, you shouldn’t be afraid of the rainbow. In fact, you should embrace it. “Color is a fantastic tool to utilize in interior design. You can create a mood in a room instantly with the use of color, especially when utilizing it on your walls and in your accessories.” Here, Augustin details the best hues to add to the most common rooms in your home and the feelings they evoke.

KITCHEN

It’s no secret that certain colors influence you to eat a little more—and a little less. In fact, a 2012 study out of the Cornell Food and Brand Lab found study participants, who had a low contrast in color between their food and plates—for example, mashed potatoes on a white plate— served themselves 30 percent more food than those whose plates and food were high contrast in color. That same study found that the color of one’s placemat and tablecloth had the same effect. The same can be said for wall color, says Augustin. “Warm colors, generally, do seem to make us feel a little hungrier. They get our appetites flowing,” she says. “You can use this information in one of two ways: if you have children who never eat and weight isn’t an issue for you or your partner, you might want to make spaces like your kitchen or breakfast nook a warm color like an orange or brown. On the other hand, if someone tends to overeat, you would want to avoid those warm colors and opt for cooler hues such as blues and grays.” 

BEDROOM

The bedroom is meant for sleep and relaxation and, as such, says Augustin, you want to avoid colors that will excite you such as a color in the red family. “Because of our cultural associations, we view blue as a calming and relaxing color,” she says; however, if a pale blue is not what you’re looking for, Augustin recommends a “color that’s not very saturated but relatively bright. A sage green with lots of white or a dusty blue with lots of white mixed into it are perfect for the bedroom.”

 

Photography provided by ©iStockphoto.com/Userab9fe5bb_275.

color wheel

Pantone is the authority on color. In fact, the color-system company’s forecasted color of the year is so closely watched that industries beyond interior design—think fashion—look to it as one of the biggest trend-setting announcements of the year. Here’s a look at the last five years of colors that Pantone has deemed the “it” hue of the year.

2017: Greenery
Get ready to see plenty of this fern-colored hue as the current color of the year dominates trends.

2016: Rose Quartz and Serenity
Pantone says they chose this pink-and-blue duo to evoke feelings of warmth and tranquility.

2015: Marsala
The company notes that this warm wine color is ideal in a kitchen or dining room.

2014: Radiant Orchid
This shade of purple has fuchsia and pink undertones. The company suggests pairing it with deeper hunter greens, turquoise, teal, or even light yellows.

2013: Emerald
This jewel-tone green hue is ideal in accessories such as dinnerware, or in an entryway or foyer, dining room, home office or library, or a powder room.

HOME OFFICE

If you have a home office, you know that it’s oftentimes a place to brainstorm ideas. Research shows that green can actually get your creative juices flowing. Like the bedroom, Augustin recommends “a sage green that isn’t very saturated in color to achieve that ideal balance that enhances creativity without over-stimulating you.”

EXERCISE ROOM

Need a burst of energy to crank out that workout? Go red! “Seeing the color red gives you a burst of strength,” explains Augustin. “If you have a place in your home where you work out, paint the wall you’re looking at red to have that burst of strength while you exercise.”

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The Importance of Using a Professional to Sell Your Home

When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.

In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. According to the National Association of Realtors’ 2016 Profile of Home Buyers & Sellers, the percentage of buyers who used the internet in their home search increased to 94%.

However, the report also revealed that 96% of buyers who used the internet when searching for homes purchased their homes through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their homes directly from a seller whom the buyer didn’t know.

Buyers search for a home online but then depend on an agent to find the home they will buy (50%), to negotiate the terms of the sale (47%) & price (36%), or to help understand the process (61%).

The plethora of information now available has resulted in an increase in the percentage of buyers that reach out to real estate professionals to “connect the dots.” This is obvious, as the percentage of overall buyers who have used agents to buy their homes has steadily increased from 69% in 2001.

Bottom Line

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.

 

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