Click There are many reasons why some people prefer to rent an apartment rather than purchase a home. Some jobs require considerable travel and occasional job-location transfers. Career-oriented professionals in their twenties find it easier and more convenient to pack up an apartment when it's necessary to move. For the majority of people, however, purchasing a home makes practical and financial sense. Home ownership in the United States is at almost 64 percent and on the rise. It is within the majority of Americans' reach and can be just as affordable as renting.
Personal Investment
A rental unit can cost as much, or more, per month than the mortgage payment on a home, but without the financial benefits. Home ownership is an investment. Each payment increases your equity, and each improvement you make increases the home's value. Owning a home is also a tax advantage. Real-estate property taxes, insurance, and mortgage interest are all deductible expenses. When you pay rent, you don't receive any of these financial benefits.
Growing Money (Equity)
The amount of your down payment determines the size of your mortgage payment. The money you put down on your home is instant equity. When you buy a home, the majority of your early payments goes toward the loan interest, and only a small amount goes toward the principal. After a period of time, the majority of your payment will go toward the principal. That means the equity in your home is growing faster, and as the paid principal amount grows so does your investment. When you sell your home, you will make money on your investment. Home prices continue to rise, and any remodeling you do also adds additional resale value.
Freedom to Make Changes
When you own your home, you are free to paint a door, rip out a wall, add a porch, or plant a garden. You don't need anyone's permission. (Restrictions may apply if you live in a development managed by a homeowner's association). A homeowner has freedom to make changes to their house, but a renter has to ask permission to repaint a wall.
Payment Stability
With a fixed-rate mortgage, the homeowner will not experience any change in payment for the length of their mortgage. Knowing exactly what to expect each month places the homeowner in a stable environment. Renters, however, must continually sign leases and deal with increases in their payments. Their only option is to look for another apartment with a lower rent.
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A Comparative Market Analysis (CMA) is routinely done for sellers to determine a listing price for their home based on current market conditions. Knowing how a CMA is created will help you understand why it's so valuable in finding a home's market value.

Comparables (Comps) Are Selected
The listing agent locates three or more recently sold homes comparable to the one ready to be listed. The best comps will:
✓ Be as near as possible to the home ready to be listed (same neighborhood, if possible).
✓ Have the same features or as near as possible (bedrooms, baths, garage, etc.).
✓ Sold as recently as possible, because the older the sale, the less reliable the CMA.
Sold Prices Are Adjusted
The sold price is adjusted to account for differences in features or characteristics. If the comp has one less bedroom, the value of a bedroom is appraised or estimated and added to the sold price. If the comp has one extra bedroom, the value would be deducted from the sold price. This brings the total sold price to an estimated amount based on if the comp had identical characteristics with the home in question.

Average Sold Price per Square Foot
Once the adjusted sold prices are calculated, they are averaged to find the average sold price per square foot. This number is multiplied by the square footage of the home ready to be listed to establish a tentative listing price.

There are several variables that make this an exercise in estimation, not a nailed-down price. It is as accurate as possible based on the comps selected, but there is some flexibility in the final pricing.

​The National Association of Realtors conducted a survey of active agents to research the benefits and disadvantages of staging a home. Here is a look at four statistics taken from this survey that suggest that staging your home is a good idea.

1. Staging Your Home Increases the Selling Price
The results of the survey show that 48% of the respondents found that home staging increases the sale price by a value of 1–20%. The agents determined their answers by comparing the selling prices of staged homes with those of similar homes that did not undergo this type of preparation. Buyers' agents also suggested that a sale was more likely if the staging decor matched the homebuyers' preferences.

2. Viewing a Staged Home Online Increases a Buyer's Willingness to Visit
According to 77% of the survey's respondents, staged homes helped buyers imagine moving into them. Potential buyers are also more likely to complete a walkthrough with an agent if the home is staged.

3. Home Staging Decreases a Property's Time on the Market
The study found that buyers are more likely to view and buy a home when it has been staged for its online listing. Moreover, buyers are quicker to set up an appointment when the home has been staged according to their personal preferences for colors and styles of furniture and accessories.

4. Staging Your Home May Simplify Moving
When a homeowner takes on the task of staging a room, the first chore is to get rid of the clutter. Doing so also makes it easier to pack up once the home sells. Most real estate agents do not ask sellers to stage every room of a home. Instead, they suggest that homeowners tackle the living room, kitchen, and master bedroom. However, sellers can stage more rooms if they believe it will lead to a quicker sale. If sellers choose to do more, survey respondents suggested staging the dining room, primary bathroom, and yard.

If you want to sell your home and are considering home staging, you should start by decluttering each room to prepare for the process. If you'd like more help with staging your home to sell, please contact me today. As an experienced real estate agent, I know what buyers are looking for in a home. I can also help you with home staging advice or connect you with a professional home stager.

​Avant - Realty NewsJanuary 2021

(650) 796-5565   |   marybethrojas.com   |   [email protected]
These New Year’s Resolution Tips Will Keep You On Track
Image: satapatms / Adobestock

We all make New Year’s resolutions, but most of us fail to stick to them. Our motivation and self-control is always much higher in the run-up to December 31 than it is two weeks into January. But to follow through with resolutions requires months or even years of willpower. Here are some strategies to help you stay committed:

Take Small Steps
Your resolution might be something big, such as losing weight, learning a language, or getting a promotion at work. Don’t get disheartened if you haven’t achieved it in the first few weeks of the year; you’ve got to take it step by step. Be proud of yourself for a week of healthy eating, a few hours spent studying Spanish, or a completed deadline in the office.

Let the World Know
The best way to motivate yourself and stick to your resolutions is by telling people. They will hold you accountable to the goals you set and provide a support system. Tell your family, message your friends, or publish it on Facebook. By letting people know about your resolutions, you’re putting an extra incentive in place for yourself.

Put It In Your Schedule
Write down regular checkups in your planner to assess your progress. Set alerts on a digital calendar every week to remind yourself of your resolutions so that it is harder to pretend they don’t exist. For bigger resolutions, check in with yourself every three months to see how you’ve progressed.

Join a Community
Being surrounded by a community of like-minded people makes it easier to keep working on your resolutions, so look for relevant groups in your area or online. Join a book club if you want to read more, connect with a running group if you want to improve your fitness, or subscribe to a civic newsletter if you want to be more politically active.

Remind Yourself Why
Your reason for investing in your health or saving money is important, so remind yourself of this every time you feel like giving up. Make placeholder goals for larger resolutions and celebrate your progress when you reach them—this will also help keep you on track. If you want to run a 10K by the end of the year, set a goal to run 2K by the end of February, 5K by the end of June, and so on.

Keep on top of your goals with these self-regulation tips for a happy and productive year ahead.

​When it comes to floor coverings, carpeting is a popular choice for many reasons: it's comfortable to walk on, helps insulate a room, and can be cost-effective. But it's also much easier to damage than stone or hardwood materials—and harder to clean. Here are the biggest cleaning mistakes to avoid if you want to keep your carpets in great condition:

Letting Spills Dry
Many household substances are mildly corrosive and can cause permanent damage to your carpet by bleaching out color or leaving frayed-looking spots. It's important to deal with spills as quickly as possible—even minor ones. The longer a spill is left to fester, the deeper it penetrates carpet fibers, making it harder to remove without using harsh chemicals.

Vigorous Scrubbing
Dealing with a spill or stain by scrubbing the damp area will damage your carpet. The scrubbed area will show up clearly as worn patches once the carpet has dried. Treat soiled areas by gently blotting out the dirt with a cloth dampened by warm water or a mild detergent mixture.

Inexpert Use of Chemicals
Sometimes it's necessary to use a spot remover for heavy stains, but always follow the manufacturer's instructions carefully. If you're not sure how much of a cleaning fluid to use or how much to dilute it by, don't just guess; you could easily cause permanent damage. If in doubt, test the solution on a hidden corner of the carpet first.

Excessive Wet-Washing
While a small amount of liquid can help shift stubborn stains or soiling, take care not to get your carpets too wet. This can risk shrinkage or other distortions, and the textile fibers may not dry quickly enough to prevent mold from setting in, causing discoloration and musty smells.

Cleaning Too Often
A full shampoo or deep clean can help bring a carpet back to life and leave it looking as good as new, but it's best not to do this too often. It should be a special treat, not a regular routine, or you risk wearing out the carpet more quickly. A professional clean once or twice a year is ideal, so long as you vacuum weekly and attend immediately to any spillages.

​Whether you're purchasing your first home or your third, knowing that the house you live in belongs to you fills you with a sense of accomplishment. Along with this feeling of pride comes a large array of benefits. Here are five advantages of home ownership:

You Can Choose the Home That Fits Your Lifestyle
Purchasing a home often provides the opportunity to select from a variety of different houses to find one that fits your lifestyle. For example, if you're looking for a nontraditional home, you can buy a condo, town house, or patio home, or if you don't want to take care of the lawn and landscaping, you can purchase a home that has a homeowners' association who can do it for you.

Remodeling Is Your Choice
Do you want to remodel your outdated bathroom or old-fashioned kitchen, or add an extra bedroom to your existing home? One advantage of homeownership is that you are free to design your home exactly as you like. Make sure to consult with your local government for necessary permits and other legalities.

You Have the Liberty to Expand Your Outdoor Living Space
Owning a home often includes the land on which it was built. As a homeowner, you are free to decide how you want to use your outdoor living space. For example, you might build an in-ground pool in your backyard, install a swing set for your kids, or construct a large deck for entertaining.

You're Building Home Equity
A house is typically one of your most valuable financial assets and only continues to build equity the longer you live in it. Your home's equity is the monetary difference between its fair market value and the outstanding debts you owe on it. Other factors, such as residing in a sought-after neighborhood with limited housing supply, can quickly boost your home's equity.

The Monthly Payments Are Consistent
A fixed-rate mortgage keeps your principal and interest payments constant for the life of the loan. Your real estate taxes and homeowner's insurance may fluctuate a bit, but typically you can depend on the same payment every month. Better yet, you have the opportunity to rid yourself of any principal and interest payment by paying off your mortgage in full.

Mortgage rates are at historic lows. Now is a good time to buy or list your home. Contact me today!