First Time Homeowner? Here’s The Move-In Checklist That Will Save You Stress

Congratulations on your new home! The process can be exciting – but also very stressful. And that’s just the process of buying a home. After the closing, you will probably find you have even more tasks to deal with.

Here’s a short homeowner move-in checklist of things you should make sure you do to smooth over the process. You’ll be surprised at how much easier this makes the moving process.

Start By Taking Time Off From Work

The first week or two in your new place will likely be a mess of repairs, phone calls, unpacking, and of course waiting. Waiting for contractors, internet and phone and cable installers, and deliveries.

Trying to work this in alongside your job is not a good idea. Remember, you just bought yourself a house. This is a big deal! And not something you will do often. Give yourself a break and take some personal or vacation days.

Do As Many Repairs And Improvements As Possible Prior To Moving In

It doesn’t matter whether you’re hiring a pro or doing it yourself. It’s much easier to work on a house when it’s empty. This is particularly true for projects that are best done when there’s no furniture in the way, like refinishing floors, plastering, or painting. I recommend using HomeZada to plan and manage your remodeling projects to prevent them from going over budget.

You should probably do basic tasks like using a multimeter to check the whole electrical system to find out if it needs a repair project. And we would strongly recommend removing the new paint smell before the move. In new construction, new paint can especially can be a bit much.

Set Up Utilities And Change Your Address

To begin with, let the post office know you’ve moved, so that they can start forwarding mail to your new home. Try to start updating your address on all your key bank and workplace benefits accounts, your credit cards, your health and car insurance. Next update your information on your memberships and magazine subscriptions.

At the same time, call the electric and gas companies to let them know you’ve moved. Most will just transfer over your account to the new address.  If you are moving in the same neighborhood or service area, you need to also do the same with your internet or cable provider. If you’re moving outside your region, you’ll want to investigate the local options and call them to set up service when you get settled.

Clean Up (Or Hire Someone)

Before the furniture shows up and you start unpacking, it’s time to clean like crazy. Ideally, you’d hire a house cleaner who can do a one-off deep clean of the house.

You don’t need to be obsessed about cleanliness to see how difficult it is to live in someone else’s mess. This means wash and vacuum carpets (if need be, rent a carpet cleaner or hire out), mop and sweep the floors, bleach the bathroom, clean the bathtub, clean the oven and fridge and sinks, and wipe off all the closets, shelves, drawers, and cabinets.

Have The Locks Changed

Even if you trust the last owner, it’s impossible to say how many house key copies are floating around or who might have them. A new set of door hardware will only cost around $50, and it’s worth the peace of mind. The hardware store will also be happy to make up a few extra copies of your new key for you to give to a trusted neighbor, friend, or relative.

Locate Your Shut-Off Valves

First, there are shut off valves to help deal with smaller, local problems. If the toilet starts overflowing, find the valve that comes out of the floor or sticks out of the wall just under or behind the toilet. If your sink starts leaking uncontrollably, there’s a shut-off under the sink. Similarly, there’s a gas shut off near the dryer or stove. Find all of these and get some familiarity with using them.

Then, and this is crucial, find the main shut-offs. These control the water and gas as it comes into your house from the street. You need to locate these so you don’t have to panic about a busted pipe that’s flooding your kitchen. Similarly, familiarize yourself with the circuit breakers. Different circuits control the electricity to different rooms or different appliances. Notice the main shut off switch is, which can turn off all power to your house in the event of an emergency.

Conclusion

Of course, there are plenty of other things you’ll need to take care of as part of your move — like going to a furniture store or throwing a housewarming party. However, this brief checklist is a good place to start for the most important things you definitely don’t want to forget.

Posted on HomeZada

 

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15,014 Homes Sold Yesterday… Did Yours?

There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is… If it hasn’t sold yet, maybe it’s not priced properly.

After all, 15,014 houses sold yesterday, 15,014 will sell today and 15,014 will sell tomorrow.

15,014!

That is the average number of homes that sell each and every day in this country, according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. NAR reported that sales are at an annual rate of 5.48 million. Divide that number by 365 (days in a year) and we can see that, on average, over 15,014 homes sell every day.

The report from NAR also revealed that there is currently only a 3.8-month supply of inventory available for sale, (6-months inventory is considered ‘historically normal’).

This means that there are not enough homes available for sale to satisfy the buyers who are out in the market now in record numbers.

Bottom Line

We realize that you want to get the fair market value for your home. However, if it hasn’t sold in today’s active real estate market, perhaps you should reconsider your current asking price.

 

Posted by The KCM Crew

“Lagging Supply” Leads to Slowdown in Sales

The National Association of Realtors (NAR) recently released the results of their Existing Home Sales Report. Despite the fact that properties are selling faster than they have at any other time since July of 2013, existing home sales declined 3.3% from March.

Lagging Supply Leads to Slowdown in Sales

NAR’s Chief Economist Lawrence Yun explained the main reason for the slow:

“April’s setback is the result of lagging supply relative to demand and the upward pressure it’s putting on prices.”

One major news organization actually used this headline about the decline:

Existing home sales crater in April, falling 3.3%

They certainly haven’t cratered! April marked the second month in a row that the annual sales pace remained above the five million mark (5.04 million). Year-over-year sales have increased for seven consecutive months and are still 6.1% above a year ago.

Every month, SentriLock, LLC provides NAR Research with data on the number of homes shown to potential buyers. This data is referred to as ‘Foot Traffic’ and is a great predictor of future sales and buyer demand. In April, buyer demand remained at the same level experienced in March.

So why did sales go down?

Buyers who are ready and willing to make a purchase are entering a market where their dream house may not have been listed yet. They can’t find it! Or if they find it, it happens to catch the eye of other buyers and an ‘auction like environment’ begins.

“Housing inventory declined from last year and supply in many markets is very tight, which in turn is leading to bidding wars, faster price growth and properties selling at a quicker pace,” says Yun. “To put it in perspective, roughly 40 percent of properties sold last month went at or above asking price, the highest since NAR began tracking this monthly data in December 2012.” (emphasis added)

The median home price of existing homes sold in April was $219,400, which is 8.9% higher than last year, and marks the 38th consecutive month of year-over-year price gains.

Bottom Line

So how do you make sense of everything that’s going on in the housing market when there are so many conflicting headlines on the same report?

John Burns, real estate expert and CEO of John Burns Real Estate Consulting gives this advice:

“The bottom line is this: don’t make decisions based on newspaper articles. Read the actual press release, including the methodology, and make sure the results jive with other data points and qualitative feedback you receive.”

If you are one of the many homeowners out there realizing that now may be the time to list your home for sale, or one of the many renters debating a purchase, sitting with a local real estate professional who takes the time to find out what’s really going on in the market, should be your first step!

Published on Keeping Current Matters.