Three Simple Tips for Home Decorating Success

Even if it’s your dream to have an elegant, classy home, it’s easy to get overwhelmed looking at picture-perfect homes on Pinterest or in magazines. If you want to redecorate your home but don’t know where to start, here are three simple tips for successful decorating:

1. Start Neutral, Then Slowly Add In Colors and Patterns

Beginning with a neutral color palette creates a more sophisticated space right from the start and allows room for growth. Choose a bright neutral shade such as white, cream, or light gray for the walls, then build the room around it. Select bolder colors carefully and reserve them for statement pieces such as large artwork or a sofa; this will make the room pop without overwhelming the space.

2. Choose Statement Artwork and High, Wide Curtains to Make a Room Look Larger

There is a common misconception that smaller artwork and window treatments will make a small room look larger. While it may seem contrary to nature, the opposite is true. A single focal piece of artwork fills the room, making it appear larger, while a cluttered gallery wall actually makes the room look smaller. The same principle applies to curtains. Choose curtain panels larger than the windows they’re covering and hang them higher.

3. Choose Well-Proportioned Rugs

A rug is a pricey upgrade; however, it’s a worthwhile investment that will boost the aesthetic of your home, and with the proper care it can stick around for many years. Instead of guessing what size rug will work best in a given space, use painter’s tape to map out potential rug dimensions in the room. When you’re happy with the placement, measure the tape. Once you know what size will work best, you’ll be motivated to find the right rug in the right size and resist the urge to size down a few feet to save some money. Bringing a sophisticated touch to your home takes time and often a bit of trial and error. Gather lots of paint samples and test them on small sections of different walls to determine which colors will work best in which room. If you aren’t happy with a rug or piece of art in the living room, try it in the entryway or a bedroom instead. Making a couple of switches can create a significant difference in the overall aesthetic.
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We make buying and selling your home SIMPLE!

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Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

www.SilverAllianceRealtyAZ.com

www.SilverAllianceAZHomeSearch.com  

Debunking Down-Payment Myths

The National Association of Realtors (NAR) describes difficulties with down payments as “what many consider the greatest barrier to homeownership.” And according to the NAR, there are a lot of misconceptions surrounding down payments. Perhaps the misconceptions shouldn’t be all that surprising, though. Following the market crash of a decade ago, no down-payment home loans disappeared. Potential home buyers began accepting that they’d have to put 20 percent down. As the economy and housing market rebounded, lenders weren’t as tightfisted. Minimum credit scores to qualify for a mortgage began dropping. And so did down-payment requirements. Many people don’t have to put 20 percent down to buy a home. In fact, statistics show that the majority of home buyers don’t do this. The NAR lists the 20-percent fallacy among its four biggest myths surrounding down payments. Here are the other three DOWN-PAYMENT MYTHS:

1. Low down-payment programs are only for first-time buyers. There are first-time buyer incentives that offer help in several areas, including down payments. And all the promotion and pushing of first-time buyer programs may lead some to believe that buyers of their second or third homes don’t qualify for down-payment assistance when, in fact, they do.

2. It’s difficult to qualify for down-payment assistance. Again, there are programs for lower-income home buyers that help them with a home purchase. But there are down-payment assistance programs for even those who make over the local median income.

3. You can’t use grants, gifts, or loans. Some of these rules vary from lender to lender, but plenty of lenders allow home buyers to use gifts from family members and grants toward a down payment. Also starting to become more popular are no-interest loans that help toward down-payment funds and aren’t due until the house is sold. There are also online resources that help explain down-payment assistance. The housing department in each state shares information online about loan and grant programs that are available. The Federal Housing Administration and Department of Housing and Urban Development sites are also worth checking out.
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Silver Alliance Realty is here to help you with all your real estate needs.
We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

www.SilverAllianceRealtyAZ.com

www.SilverAllianceAZHomeSearch.com  

Perks of Selling or Buying a House over the Holiday Season

Spring is often considered the best time of year to sell. Families can find their dream house, make their purchase, and move in all before the new school year starts. But there are perks for home buyers and sellers who decide to list at the end of the year.

Perks for Sellers

Since most sellers wait until spring to list their home, there are typically fewer homes available for sale over the winter holidays, which means less competition. If sellers price their home competitively and stage it right, they can make their house stand out from the sparse crowd, catching the attention of more buyers.

When You’re Selling . . .

You can still celebrate the holidays but keep it simple. Instead of hosting a large party, invite a few family members and friends for a quiet dinner in, or head to a restaurant to keep your kitchen tidy and open-house ready. When decorating, remember that not everyone celebrates the same holidays in the same way. Stick to more neutral decorations that transcend any religious event like candles and winter flowers such as paper whites and poinsettias. Whatever decorations you use, keep them to a minimum so your house remains the center of attention.

Perks for Buyers

Despite the limited selection, buyers can also benefit from purchasing over the winter holiday season. Often a homeowner will put their house on the market in winter because they can’t or won’t wait until spring―that is, they need an immediate sale. Buyers who purchase during the winter holidays might find sellers more willing to negotiate on price or contract terms.

When You’re Buying . . .

Buying a house is stressful enough without the added pressure of celebrating a family holiday at the same time. To enjoy the season, prepare for your purchase in advance. Before you start your home search, figure out what type of home you want and where it should be located. Decide on a budget and get pre-approved for a mortgage. And don’t RSVP “yes” to every party invitation you receive; you will need to keep some time available for viewing homes with your agent. 
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Silver Alliance Realty is here to help you through all your real estate questions and concerns.  We make buying and selling your home SIMPLE!

Contact Silver Alliance Realty

Mary Platt

Designated Broker

(602) 618-6764

Mary@PlattTeamAZ.com

www.SilverAllianceRealtyAZ.com

www.SilverAllianceAZHomeSearch.com

Always Start Your Home Search With Pre-Approved Financing

Today’s real estate market moves swiftly. Often, buyers find they need to act quickly to avoid missing out on their perfect home. In today’s market, sellers are receiving multiple offers, allowing them the luxury of choosing an offer that’s to their exact liking. So, what can buyers do to increase their chances of enticing sellers with their offers?

The Benefits of Mortgage Pre-Approval

Pre-approved financing gives buyers a significant edge over those whose competing offers do not have a mortgage preapproval letter.  For home sellers, an offer that’s accompanied by a pre approval letter shows that the buyer is serious. The seller (and the seller’s agent) sees that the buyer has done his or her homework and is ready to purchase the home as quickly and as smoothly as possible. When faced with two similar offers, the offer backed by mortgage pre-approval is almost universally preferred. For buyers, beginning a home search by getting pre-approved for a mortgage provides even more benefits. Your pre-approval gives you a firm budget to work with, saving you from the heartache of falling in love with a home that’s outside your financial reach. 

Additionally, having pre-approved financing sets you on track for a smoother home purchase. Pre-approved buyers close more quickly and are less likely to come up against unexpected delays or difficulties.  The process of buying a home is stressful and has many stages.  Taking these steps in the proper order is the best way to minimize your stress.

How Much House Can You Afford?

Buying a home doesn’t begin with looking at the area’s real estate listings. It begins, as with most things, with financing. With a mortgage pre-approval in hand, you’ll know what you can afford. Much of the waiting involved in choosing and obtaining a loan will be behind you as you search for your perfect home. You’ll still have a short wait when your actual loan goes through underwriting. However, as long as you don’t make any changes to your financial status, the loan application process is much shorter if you’ve already been pre-approved. Best of all? By being pre-approved when you make an offer on a home, you’ve given that offer its best chance to be accepted. In today’s fast-paced real estate market, that’s no small advantage. 

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What's Up With Mortgage Rates?

Mortgage rates nationwide are starting to rise after several years of record-low rates. What does this mean for home buyers and sellers? Here are a few points to consider:

The Real Estate Market Remains Strong

Real estate remains an excellent investment, and real estate markets across the country are consistently strong. In many local markets there is high demand but low inventory, and buyers are quickly snapping up homes despite rising rates. While buyers may have plenty of competition, it also means they can feel confident in their real estate investment, especially when buying in a part of the country where housing is in demand.

Mortgage Rates Are Still Affordable, Historically Speaking

While current rates are higher than they were at this time last year, they’re still considered quite affordable from a historical perspective. Rates are expected to remain under 5 percent for the foreseeable future, as they have been for the past ten years. Compare today’s average mortgage rates to the average rate of 5.67 percent in 1996, or the whopping 10.13 percent average in 1990, and you can easily see that current and projected rates are still quite affordable by most objective standards.

Rates Are Expected to Rise in 2017

Most experts expect that rates will either rise slightly in 2017 or fluctuate slightly over the course of the year. Many experts think mortgage rate averages in 2017 will hit the 4.5 percent mark, with some predicting average rates inching up closer to 5 percent. If you plan to buy a home later in the year, you may want to keep these ballpark estimates in mind when figuring out your home budget. And remember these are just guesstimates; nothing is set in stone.

Buyers Can Still Get Great Rates

Although mortgage rates are rising, it’s still possible for individual buyers to negotiate and find lower rates. This sometimes involves “buying down” your mortgage, which means paying additional money upfront to take points off your mortgage rate. The general idea is to pay more money now to save money on your mortgage over time. This can make a lot of sense if you have extra cash on hand and plan to hold on to your home for a long time. Keep in mind that if mortgage rates go down in the future, you can always refinance your loan to get a lower rate and reduce your payments or get more favorable loan terms. 
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