Real Estate

Three Simple Criteria to Qualify for a Capital Gains Three Simple Criteria to Qualify for a Capital Gains Tax Exemption

Imagine the hustle and bustle of a busy city where people are always on the go, especially when it comes to buying homes. Goldman Sachs predicts home prices will rise more than 4% in 2024 and 2025a projection that many are following closely as the real estate market continues to show signs of life. With factors such as changes in interest rates and the fluctuating job market at play, this forecast raises many questions about what it means for home buyers, homeowners and those looking to invest in property. Real estate market forecast for next year: prices will rise by 4.4% Key takeaways: House prices in the US they are expected to increase 4.5% in 2024 and 4.4% in 2025. Lower interest rates due to Federal Reserve Stocks are driving this rise. He housing supply remains limited, contributing to continued price appreciation. Recent mortgage rate decreases have not yet led to a significant increase in applications. different United States regions are experiencing varying levels of price growth, with the Midwest and Northeast showing the strongest increases. US Real Estate Market Outlook 🏠 House prices is expected to increase 4.5% in 2024 4.4% in 2025 📉 Interest rates Lower rates due to Federal Reserve behavior 📦 Housing offer remains limited contributing to price appreciation 📝 Mortgage applications No significant increase despite the recent the rate decreases 🗺️ Regional variations Midwest and Northeast demonstration stronger increases The real estate market has always been influenced by a multitude of factors, and recent analysis from Goldman Sachs sheds light on what the future could hold. Goldman Sachs analysts They have increased the price of their home appreciation forecasts based on several vital factors, stating that the economy remains strong and interest rates are expected to decline. But what does this mean for the average person? Let's delve into this important topic. Current trends in home prices The market has experienced significant fluctuations as a result of economic conditions and global events. At the start of the pandemic, many feared a drop in property values. Contrary to what was expected, the opposite happened. As many people turned to homeownership during the lockdowns, demand for housing increased. This caused an unprecedented rise in prices, which peaked around 20% annually. Recently, annual house price growth has stabilized around 5.5%hinting that demand is far from satisfied, especially with a demographic increase of potential buyers looking for homes in the age group of 30 to 39 years who are forming families. Interestingly, the cost of mortgages has seen a substantial decline, from a peak above 7.8% in October 2023 unless 6.5% recently. This decline in mortgage rates paves the way for more affordable home buying opportunities, allowing more potential homeowners the opportunity to enter the market despite historic affordability challenges. Factors driving house price growth A key factor driving the rise in home prices as forecast by Goldman Sachs is the forecast interest rate cuts by the Federal Reserve. As the labor market shows signs of easing, economists predict that the Federal Reserve will implement multiple rate cuts in the near future. Lower rates mean lower borrowing costs, which in turn makes homes more affordable for buyers even as prices continue to rise. Interestingly, the phrase “bad news is probably good news” reflects the current sentiment in the market. Analysts suggest that concerns about economic downturns may lead to interest cuts that ultimately benefit homebuyers. As employment concerns continue to circulate, it appears that home prices are resilient, and low permanent layoff rates support a stable labor market. The affordability conundrum While home prices are rising, the issue of affordability It is still a hot topic. Current affordability levels are said to be the worst since the beginning of 1980s. The anxiety surrounding rising prices has led many to wonder if potential buyers will be priced out of the market entirely. In the past, affordability issues were often resolved by sudden drops in home prices. However, Goldman Sachs believes that the current scenario may lead to a more gradual return to normalized levels of affordability. With mortgage rates expected to continue to decline and real disposable incomes to grow modestly, there may still be hope for buyers looking to enter the market. Regional variations in house prices Projected growth in home values is not uniform across the United States. According to Goldman Sachs, some regions are experiencing much healthier appreciation rates than others. He MidwestOften recognized as the most affordable part of the country, it is seeing notable price increases, particularly in cities like cleveland and chicago. He Northeastwith centers like New York and BostonIt has also shown strong growth in house prices. On the contrary, in Californiamarkets like san diego are thriving, despite historic concerns about affordability challenges. Meanwhile, the Southeastespecially Floridahas shown a drop in affordability that challenges its previous status as a budget destination. The future of home prices and the economy Looking ahead, Goldman Sachs has expressed optimism about the housing market and expects it to remain buoyant with 4.5% growth in 2024 and 4.4% in 2025. There are a couple of factors contributing to this positive outlook. First, the anticipated interest rate cuts It seems likely to encourage buyer activity when it comes to mortgages. Analysts predict that reductions in borrowing costs will help buyers who have been on the fence for quite some time. Second, while affordability issues persist, revenue growth It is expected to remain positive, providing more purchasing power to buyers. The challenge remains to see whether these factors will create a balance, stabilizing the market without resulting in a drastic drop in house prices. Consumer sentiment and market anticipations Despite notable changes in mortgage rates, the market has yet to see an increase in mortgage applications. This stagnation could be due to a combination of seasonal predictability and buyers' hesitancy to jump into a fluctuating market. As families begin to settle into a routine with school-aged children, it is common for many to decide not to move during this

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The latest trends in home renovations

Real Estate / DSKM

Last updated on November 15, 2024 The home renovation trend continues as homeowners look to improve their living spaces, add square footage, and remodel dated spaces in their homes. Recently, home renovation spending has skyrocketed to new heights: The median spend was $24,000, up from just $15,000 in 2020. Are you planning a renovation project soon? This is what's trendy: Kitchens and bathrooms account for the majority of expenses According to a recent HOUZZ study, 29% of homeowners who were renovating said they intended to remodel their kitchen in the next year, 27% said they planned to remodel their guest bathroom, and 25% intended to remodel your master bathroom. The average spend on kitchen renovations is now $24,000 and $15,000 on bathrooms. Main trends in kitchen renovation An island spanning at least 7 feet. White still dominates cabinet color choices, but the color is making waves, with blue cabinets being chosen 25% of the time and green cabinets 4% of the time. Warm wood tones are making a comeback, with 24% of homeowners opting for wood cabinets. High-tech appliances are gaining popularity, with 34% of homeowners replacing outdated appliances with smart ones. Ceramic tile remains a timeless choice for backsplash, and the vast majority of homeowners choose this option, followed by a smaller number of those who choose to carry countertop material to the backsplash. The best trends in bathroom renovation 64% of those who renovate their bathroom do so with aging in place in mind. The growing trend of adding wet rooms to bathrooms continues. A wet room encompasses the bathtub and shower behind a glass partition. The color white dominates all categories of the bathroom except the vanity, where wood is the main option. Freestanding bathtubs are still king, but built-in bathtubs are making a comeback: 39% of renovators opt for this style. Tiles are by far the most popular material for shower walls and floors. Outdoor improvements Homeowners continue to invest in their curb appeal as more and more choose to spend money on outdoor spaces and improve the aesthetics of their home's exterior. These are the top trends in outdoor improvements: Decks continue to be the biggest spenders in outdoor upgrades, with 44% of homeowners renovating their outdoor space opting to install a deck, followed by 23% who add a porch and 20% who add a porch structure. shade. Outdoor kitchens continue to be popular as homeowners look to expand their outdoor living space. 77% of homeowners who undergo an exterior improvement project invest in serious landscaping, while 78% improve or add exterior lighting. You may also be interested in: Paint Color Trends for 2025 Are Here! ___________________ Allen Tate is the largest real estate company in the Carolinas with more than 70 offices and 1,800 real estate agents in the Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain regions. Allen Tate is a partner at Howard Hanna Real Estate, the largest private real estate brokerage in the U.S., with 500 real estate, mortgage, insurance, title and escrow services offices and 15,000 sales associates and staff. in 13 states. For more information, visit www.allentate.com and www.howardhanna.com. Visited 983 times, 83 visit(s) today

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The big difference between the net worth of the tenant and the owner

Real Estate / DSKM

The big difference between the net worth of the tenant and the owner Did you know that the net worth of a typical homeowner is approximately 40 times that of a renter? This is because home ownership is the number one way to build wealth in this country. When you own a home, your net worth increases as you pay off your mortgage and the value of your home increases. Want to learn more about this great financial benefit or programs that could help you become a homeowner?

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Is it a good time to sell a house or should I wait until 2025?

Real Estate / DSKM

Are you wondering if now is the right time to sell your home or if you should wait until 2025? Overall, it’s a good time to sell a home in late 2024, especially if you’re in a seller’s market, but the market is showing signs of slowing, which may continue into 2025. However, the ideal time to sell varies depending on numerous factors, including local market conditions, personal circumstances, and predictions for the future of the real estate market. Let’s dive into the details to help you make the best decision for your specific situation. Is it a good time to sell a house or should I wait until 2025? Understand the typical best time to sell a home in the US. In the United States, conventional wisdom has long been that the spring and early summer months (roughly March through June) are the optimal time to sell a house. There are a few reasons for this: Increased buyer activity: Historically, the spring season sees an influx of buyers eager to move before the school year begins or enjoy the warm weather. This increased demand can translate into more potential offers and faster sales. Pleasant climate: Spring and early summer typically offer favorable weather conditions, making it easier for buyers to tour homes and participate in open houses. School Year Transition: Families often want to complete their moves before the new school year begins, leading to an increase in buying and selling activity. However, these traditional trends have been somewhat altered in recent years. The real estate market has experienced a lot of volatility, influenced by economic conditions, interest rates and inventory levels. While spring and early summer can still be advantageous, it is not always a guaranteed formula for success. Current real estate market conditions (end of 2024) Source: Fannie Mae The real estate market at the end of 2024 shows some signs of cooling after a period of intense activity. While we have seen a significant improvement in housing sentiment over the past two years, according to Fannie Mae, there are some factors to consider: Consumer confidence: The Fannie Mae Home Buying Sentiment Index (HPSI) has increased, indicating that consumers are feeling a little better about the housing market. But the percentage of consumers who think it’s a good time to buy a home remains relatively low (to 20% in October 2024). Good time to sell: While there is a higher proportion of consumers who believe it is a good time to sell compared to those who believe it is a good time to buy, the proportion of sellers actually decreased slightly to 64% in October 2024 from the month former. This indicates some weakening in the sellers’ market. Mortgage rates: While mortgage rates have seen some fluctuation, they have been a major concern for potential buyers. In the first half of October 2024, consumers were slightly more optimistic about mortgage rate reductions, but a subsequent increase in rates may have impacted that sentiment. Home Price Expectations: Consumers still anticipate home prices to rise over the next 12 months. However, the net share of those anticipating price increases has increased only slightly, indicating that the rapid rise of recent years may be stabilizing. Rental Preference: A direct result of the high home prices of recent years is a growing preference for renting, especially in the context of consumers’ future housing decisions. With rental growth expected to be modest in 2025, more attractive deals may be found in the rental market. Factors to consider before selling your home in late 2024 Before making a decision about selling your home in late 2024, it is wise to consider these important factors: Local Market Conditions: Your local market will have a big impact on your ability to sell your home quickly and for a good price. If you live in a competitive market with high demand and low inventory, you may be in a more advantageous position compared to a market with a surplus of homes for sale. Talk to a real estate agent in your area to get a more accurate picture of your local market trends. Inventory levels: If your area has a greater number of homes currently for sale, you may experience more competition and a longer time on the market. On the other hand, if there is little inventory, you will probably have more bargaining power. Your personal circumstances: Your own individual situation should always be a primary consideration in any housing decision. Are you moving for work, need to downsize, or just looking for a change of pace? Interest rates: Fluctuating interest rates have a large effect on buyers’ ability to obtain a mortgage. If rates are going up, you may find a smaller pool of potential buyers and a potential impact on your sales price. In my opinion, if you need to sell, it is still a reasonable time to do so. However, the market is changing, and you may want to keep in mind that prices may not continue to rise as they did in previous years. What about waiting to sell in 2025? Many people are wondering if it would be better to postpone selling their home and wait for market conditions to improve in 2025. It’s a valid question, and here’s what I’ve been thinking and reading about it: Deceleration potential: Experts predict that the housing market could experience a modest slowdown in 2025. This could be due to factors such as higher interest rates, lower buyer demand, and a possible increase in housing inventory. Mortgage Rate Predictions: Experts predict that mortgage rates may continue to be a challenge for buyers in 2025. Economic uncertainty: The overall economic outlook remains a source of uncertainty. A possible recession or economic slowdown can have a substantial impact on the real estate market. Increased inventory: There is a possibility that more homeowners will decide to list their properties for sale in 2025, which could lead to a greater inventory of homes for sale. Should

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The 5 Most Common Improvements Sellers Make Before Listing Their Home

Real Estate / DSKM

Last updated on November 13, 2024 According to a recent report, nearly 65% of all sellers who recently listed their home for sale did at least two projects to help present their home in the best light possible before selling it. While not all projects generate a significant return when sold, there are several projects that make financial sense and virtually pay for themselves at the closing table. Before revealing the list of the best projects to tackle before selling, it is imperative that you understand that this is a general list, compiled using national data. After reading this list, your next order of business should be to find an experienced real estate agent in your area who can talk to you about the exact elements you should consider improving to maximize the sale of your home. Now that you understand that caveat, here are the most common improvements sellers make before putting their home on the market. fresh paint If you're selling your home in the future, you can bet there will be paint cans involved. Buyers are looking for a fresh, neutral canvas to imagine their new life in their home. The best thing to do is to repaint all the walls with pale neutral paint colors. Cool gray paint colors were trending years ago, but today's buyers crave warmer spaces. Stick to warmer neutrals like Benjamin Moore Manchester Tan, Edgecomb Gray or Classic Grey. If it's been a while since you touched up the trim or it looks dirty, it's also a good idea to repaint it to keep it looking clean and crisp. While you're at it, you may have to show your exterior some love with a more modern paint color. Curb appeal improvements are especially important when selling, so if your home needs a new or updated coat of paint, don't overlook this investment. If your exterior has seen better days and even the most current color can't fix it, it might be time to replace your siding. The latest Cost vs. Value lists this investment as a great value, and owners can expect to recover between 88 and 94% of their costs. Curb Appeal Improvements The goal with the right curb appeal is to welcome buyers into your home. It's mentally difficult for buyers to get over a bad first impression, and for that reason, exterior and curb appeal improvements are often at the top of sellers' to-do lists. These are the best improvements that can be made based on return on investment: Liner replacement Garage door replacement Paint your front door Entry door replacement (steel) In addition to these big-ticket items, in a recent survey by Zillow, investing in landscaping topped most sellers' lists. Ranging in cost from $500 to $3000, if you're willing to put in some effort here, you can save a lot of time. How about a new roof? How does that compare in terms of ROI? Unfortunately, replacing a roof at the end of its useful life is not something that will necessarily increase the value of your home, as it is something that buyers expect to be in good condition. Keep in mind that a roof that needs a lot of care and attention will be flagged on an inspection report and may give buyers cause for concern. New lighting Now here's a task you can easily accomplish in a weekend: contemplate the power of proper lighting! About a third of sellers seriously upgrade the lighting in their home before listing. What's more, a recent report showed that upgrading lights to LED lighting is associated with a 1.5% sales premium. While we're talking about lighting, don't underestimate the power of lamps! Lamps create a cozy atmosphere that simply cannot be recreated with overhead lighting. If you're missing a good number of lamps in each living space (ideally at least 3, but the more the better), it's time to turn to Home Goods or Target to invest in some ambiance. Bathroom Updates Many sellers think they have to clean out outdated bathrooms before putting their home on the market, but this couldn't be further from the truth. Minor bathroom updates are where sellers see the biggest return on their investment. Things like replacing outdated lighting fixtures, adding framed mirrors, replacing worn knobs and plumbing fixtures, and refinishing a worn bathtub are worthwhile investments. Minor updates in kitchen. Spending money to invest in the appearance of your kitchen just got easier, as the Cost Vs. Most recent value indicates that a minor kitchen remodel typically returns over 96% when it comes time to sell. With an average cost of $26,000, a minor kitchen remodel includes: New shaker-style door and drawer fronts New hardware new appliances New sink/faucet RVP floors New countertops/backsplash As with all major investments you make before selling, it's best to talk to your real estate agent before starting any large-scale project. Look for a real estate agent with local experience; You want an expert with knowledge of your local area who knows what projects are worth doing based on the price of your home. If you are seriously considering selling your home soon, we recommend a physical exam! Whether you're planning to sell soon or stay in your home for years to come, a home physical exam can help you save money in the long run by helping you make smart decisions when remodeling or repairing your home as it ages. If you are ready to receive a complete “checkup” on your home, the real estate experts at Allen Tate are here to help. Fill this form To start today! ________________________ Allen Tate is the largest real estate company in the Carolinas with more than 70 offices and 1,800 real estate agents in the Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain regions. Allen Tate is a partner at Howard Hanna Real Estate, the largest private real estate brokerage in the U.S., with 500 real estate, mortgage, insurance, title and escrow services offices

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The latest trends in bathroom remodeling.

Real Estate / DSKM

Last updated on November 8, 2024 In the latest Cost vs. Value, the average mid-range bathroom remodel costs just over $24,000, while a larger-scale remodel costs more than $72,000. Whether you're looking to simply make some cosmetic changes to your current space or tear your current bathroom to the ground, here's what's hot in the world of bathroom design. Seventy-nine percent of homeowners choose to maintain existing space when renovating their bathroom. Those who choose to expand their space do so by removing square footage from a closet or building an addition. More than 55% of all renovated bathrooms are a modest size of less than 100 square feet. As the average price of renovating a bathroom continues to rise, more and more homeowners are deciding to cut costs in an effort to save budget. Interestingly, in previous years, increasing the size of the shower was a major trend, but in 2024, we will see that trend begin to decrease and less people choose to expand the shower space. Wet rooms Wet rooms are gaining popularity year on year, with 13% of homeowners renovating their bathrooms choosing to add this feature. Not only is this a better use of space, but it is also great for residents aging in place, as these wet rooms are curbless entrances. Freestanding bathtubs The oversized garden tubs that graced new construction in the '90s are slowly being retired and replaced with sleek freestanding tubs. Thirty-seven percent of homeowners renovating their bathroom choose these space-saving tub styles, with the majority opting for a flat-bottom acrylic tub. Classic finishes While bold colors like green are trending, white has always been and continues to be the favorite color when it comes to vanities, countertops and tiles. Considering that white finishes have dominated the bathroom design world for decades, designing a bathroom using primarily white finishes will never go out of style. You can inject personality with easily changeable wall colors, greenery, and even artwork. Tile floors Tiles, tiles and more tiles! The vast majority of those who renovate their bathroom opt for tile floors and shower walls. The art of mixing metals in home design is not just for the kitchen, as this idea has slowly made its way to the bathroom as well. With interior designers leading the trend for this eclectic approach, more and more homeowners are opting for a more curated look and looking to achieve this by mixing metals. The key to achieving this look is to keep plumbing fixtures in the same metal family and then have fun with light fixtures, cabinet pulls, and other accessories. Showers without curb As more and more homeowners want to age in place, master bathrooms are being renovated with that in mind. Curbless showers are trendy and exceptionally functional, bridging the gap between accessibility and perfect design. Interested in seeing other trending home design ideas? Verify the latest trends in home improvement ROI. Transitional style is still king With 23% of homeowners choosing this aesthetic, transitional style is the most popular bathroom renovation style, ahead of contemporary (16%), modern (15%), traditional (11%), farmhouse style ( 5%) and eclectic (5%). ). Wooden dressing tables are now the most popular. White aside, wooden vanities are now the most popular choice for those renovating their bathrooms, with 26% opting for this style, followed by white (22%), gray (11%), blue (11%). ) and the whitish. (10%). However, white remains the most popular choice for vanities and shower walls. ________________________ Allen Tate is the largest real estate company in the Carolinas with more than 70 offices and 1,800 real estate agents in the Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain regions. Allen Tate is a partner at Howard Hanna Real Estate, the largest private real estate brokerage in the U.S., with 500 real estate, mortgage, insurance, title and escrow services offices and 15,000 sales associates and staff. in 13 states. For more information, visit www.allentate.com and www.howardhanna.com. Visited 227 times, 3 visit(s) today

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In the Spotlight: Property Score Filter, Email Alerts, and More

Real Estate / DSKM

We're excited to bring you more powerful features to help you make smarter real estate investment decisions with the latest updates to Mashvisor. He first part of In the spotlight showed filters for investors in short-term rentals and new ways to use the Map Property Finder tool. In this blog post, you'll discover a new way to see only properties with high investment potential, learn about recently listed properties, and get a list of their comparisons. Let's explore these further. Filter by property score In addition to providing you with tools to help you research the best real estate markets and find the best investment properties, we have also created a new proprietary rating system called Property Score. While Mashmeter measures a neighborhood's investment potential, Property Score Measures whether a home listing would be a profitable rental property. Therefore, if you want to focus only on properties for sale that have the highest overall investment potential, you can use the new Property Score filter to only display listings with Property Scores that meet your preferences. How to access this feature Gonna Property finder on the maplow Find and invest. Click More filters. Click +Add across Property Score (investment probability). Use the slider to toggle which property scores you want to view. The score ranges from 0 (lowest potential) to 5 (highest potential). Set property alerts You can now set up email alerts for properties that match your search criteria, so you never miss a great deal. When you enable this, we will send you email notifications about new listings and price drops. You can set the delivery frequency to daily, weekly or monthly. How to access this feature while it is in Property finder on the mapClick on the bell icon at the top right of the screen. In the first box, give the email alert a name. In the second box, type the city where you want to receive alerts. Configure the characteristics of the properties you are interested in (property type, number of bedrooms and bathrooms, price range, etc.). Select whether you would like to receive a daily, weekly or monthly email alert. Click Save alert. Export property list Did you know you can export a list of for sale listings, Airbnb offers, and rental offers in a selected neighborhood? This feature has helped real estate agents, brokers, and investors conduct in-depth market research outside of the platform and share potential investments and compensation with their clients or team members. How to access this feature In Property finder on the mapType the neighborhood you are researching into the search box. The export feature will not work on a city level search. Change to Airbnb Compensations either Rental compensationif required. Apply your preferred filters to display only the properties you want to see. Click on the Export button at the top right of the page. Customize your property report If you're using Mashvisor data to present your services or research to current and potential clients, you can add your branding to property reports and make them look official. There is no longer a need to take screenshots of the data and copy and paste them into a separate file; The PDF you download will have your logo and company name embedded. How to access this feature While on a properties page, click the Discharge icon located below the basic property details. The pop-up window will ask if you want to add your company branding. Click yes I want. Add your agency name and logo, then click Save and download. Share a property While creating a property report is a great option to leave a good impression on a potential client, you can also share the property page by copying the link or emailing it directly from Mashvisor. However, please note that the recipient will not be able to see the full details unless they have a Mashvisor account. How to access this feature While on a properties page, click the Share icon located below the basic property details. To copy the property page link, click Copy icon at the end of the URL text box. To share the property page link by email, type an email address in the Email text box, and then press Get into. You can add more email addresses to receive the link to the property page. Once you have done so, click on the Send email button. Learn about the top amenities in a neighborhood In our previous product update, we shared how you can create a filter to only show Airbnb listings with your preferred amenities. But what if you want to discover the most common amenities in a specific neighborhood? Each property details page now includes information about your neighborhood and the top Airbnb amenities in that area. This way, property managers and Airbnb hosts can plan what amenities to offer when they purchase the home they are considering and list it as a short-term rental. How to access this feature While on a properties page, click the Perspectives eyelash. Scroll down to the section, What amenities do the ads have? On the right side of the page. Towards a more insightful investment search We hope these additional features help you invest smarter and earn higher returns. If you have comments, questions, or feature requests, please send us a message in the intercom chat located in your dashboard.

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Three Simple Criteria to Qualify for a Capital Gains Tax Exemption

Investors are not buying all the houses

The Best Vacation Activities in North and South Carolina

Prices will rise 4.4%

The latest trends in home renovations

The big difference between the net worth of the tenant and the owner

Is it a good time to sell a house or should I wait until 2025?

The 5 Most Common Improvements Sellers Make Before Listing Their Home

The latest trends in bathroom remodeling.

In the Spotlight: Property Score Filter, Email Alerts, and More

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