The Price of Perfection: Don’t Wait for the Perfect Home

In life, patience is a virtue – but in the world of homebuying, waiting too long in hopes of finding the perfect home actually isn’t wise.

That’s because the pursuit of perfection comes at a cost. And in this case, that cost may be delaying your dream of homeownership. As Bankrate explains:

“One of the most common first-time homebuyer mistakes is looking for a home that checks each of your boxes. Looking for perfection can narrow your choices and lead you to pass over good, suitable options for starter homes in the hopes that something better will come along.”

The Cost of Holding Out for Perfection

Nothing in life is ever perfect – and that’s true when you search for a home too. Unless you’re building a brand-new home from the ground up, chances are there are going to be some features or finishes you wouldn’t have picked yourself. It may be as simple as paint colors, a light fixture, or the tile in the bathrooms or kitchen. Or even that the backyard isn’t fenced in. It could also be that the home itself is great, but it’s not the ideal location you were hoping for.

But here’s the trade-off you’d be making without even realizing it. In all that time you’d spend searching for the perfect place, you’d overlook a lot of homes that would’ve worked for you. U.S. News explains:

“. . . you may miss opportunities if you enter the process with blinders on and aren’t open-minded . . . Countless potential buyers never buy because of this, and thus miss great investments or never move on to the next chapter of their lives.”

It’s Time To Redefine Perfection

Especially with affordability and inventory where they are today, buying a home that needs some updates, is a few neighborhoods away from your ideal location, or doesn’t have all your desired features can be a smart move. Here’s why.

For starters, these homes are usually more affordable, which is important at a time when some buyers are struggling to find options in their budget.

And they give you a chance to make the space your own or discover a whole new area of town. You may find out you actually love that neighborhood. Or, swapping out a feature here or there after move-in isn’t such a big deal. So, look past the green shag carpet and see the bones of the house. With a little vision and creativity, you can turn a good house into a fantastic home.

How an Agent Helps You Explore Your Options

If you’re open to a home that needs a little elbow grease or is a bit further out, let your agent know. They’ll be happy to show you how this can really open up your pool of homes to pick from. They’ll also help coach you through this process by:

1. Prioritizing Your Must-Haves: Your agent will want to revisit your wish list and separate your non-negotiables from your nice-to-haves. From there, they’ll focus on what’s really most important to you as they come up with a bigger list of options for you to choose from.

2. Coaching You To See the Potential: As you tour these added options, your agent will help you look beyond cosmetic flaws and imagine what the home could be with a little work. Simple updates like a fresh coat of paint or new flooring can make a big difference.

3. Connecting You with Local Pros: And an agent’s support goes one step further. If they know what you’re hoping to change after you move in, they can connect you with local pros who can get the job done. That way it’s less work for you, and you don’t have to worry about tracking down contractors.

Bottom Line

Remember, there is no perfect home. But with expert help and an open mind, an agent can find you the right home – even in today’s market. Connect with a local real estate agent to see what’s out there.

Read more at KeepingCurrentMatters.com

Related Links

• Ideas for Freshening Up Your Home’s Exterior

• Inflation Drops Again in June, Clearing the Path to a Fed Rate Cut This Fall—and Relief for Homebuyers

• Patterned Flooring is Back: A Look At This Hot Design Trend

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Inflation Drops Again in June, Clearing the Path to a Fed Rate Cut This Fall—and Relief for Homebuyers

Annual inflation in the U.S. dropped to its lowest level in more than three years last month, increasing the odds of a September interest rate cut that would bring relief to mortgage markets.

In the 12 months through June, the consumer price index rose 3%, according to data released by the Department of Labor on Thursday. It was the lowest annual increase in prices since March 2021.

On a monthly basis, overall prices dropped 0.1% in June from May, the first monthly decline since the onset of the COVID-19 pandemic in spring 2020. Costs for energy and vehicles dropped on both a monthly and annual basis, offsetting rising housing prices.

Prices for shelter, which make up more than a third of the index, continued to rise last month under the Labor Department’s method of calculating housing costs. Rent rose 5.2% from a year ago, while owner’s equivalent rent, a measure of what homeowners would pay to rent their own residence, was up 5.4%.

For potential homebuyers, the overall cooling of inflation toward the Federal Reserve’s 2% target could mean incoming relief from higher mortgage rates. The central bank is now viewed as extremely likely to slash a quarter point from its current benchmark rate of 5.3% when policymakers meet in September.

“Prospective homebuyers have been eagerly waiting for a drop in borrowing costs,” says Bright MLS Chief Economist Lisa Sturtevant. “Mortgage rates will fall when the Fed cuts interest rates … but it is also possible to see mortgage rates come down even before the actual Fed rate cut, if the central bank assertively telegraphs their intentions.”

Mortgage rates generally follow yields on the 10-year Treasury note, which move in response to investor expectations about inflation, the economy, and future Fed rate moves. Yields on the 10-year dropped on Thursday morning after the new inflation data.

Average rates on 30-year fixed mortgages stood at 6.95% for the week ending July 3, more than double their level three years ago, according to Freddie Mac.

Fed chair signals rate cuts on the horizon

Earlier this week, Fed Chair Jerome Powell testified on Capitol Hill as part of his twice-yearly report to Congress on the state of the economy.

In his remarks, Powell highlighted softening in the U.S. labor market, after the unemployment rate ticked up for the third straight month, hitting 4.1% in June.

The labor market "has cooled really significantly across so many measures," Powell told the Senate Banking Committee on Tuesday. "We are well aware that we now face two-sided risks."

His comments highlighted the Fed's dual mandate to keep both inflation and unemployment low, and signaled that policymakers could soon cut rates to prevent rising layoffs and a recession.

"Today’s inflation reading underscored Fed Chair Powell’s recent remarks that both the risks to the economy and the supply and demand of goods and services are coming into better balance," says Realtor.com Chief Economist Danielle Hale.

"Combined with the more moderate June jobs report, this data should build Fed confidence that its target is in sight, and could pave the way for a signal in the July Fed statement that a rate cut is on the horizon," continues Hale. "This should help improve interest rates, like mortgage rates, much sooner, especially if the data continue on this trend."

In his testimony, Powell struck a cautious tone, saying that officials don't expect to cut rates until they are certain that inflation is "moving sustainably" toward the Fed's 2% goal. Still, this was a dovish shift in language from his previous statements, noted Sturtevant.

"There is a notable distinction between 'moving sustainably toward 2%' and 'hitting 2%,' and by using this language, Chairman Powell has escalated expectations that the central bank is almost ready to cut the Federal funds rate," she says.

Bond markets still view a rate cut at the Fed's next meeting in late July as unlikely. But investors now price in a 79% probability of a quarter-point rate cut at the central bank's September meeting, according to the CME FedWatch tool.

Read more at Realtor.com

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• Homeowners Gained $28K in Equity over the Past Year

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Ideas for Freshening Up Your Home’s Exterior

It's highly likely you take a lot of pride in your property and, therefore, want it to look its best, whether that be for guests or potential buyers.

One of the most important ways to put your home's best foot forward is to make sure the exterior is at it's best, which can be achieved with simple updates here and there during your time living there. If you feel it's time for your home to get a makeover, or you think there are areas of your home's exterior that could improve, below is a list of areas to get you started.

Update Your Windows
One of the first things people notice about a home is its windows. Consider replacing your windows with new, energy-efficient models if they are outdated or need repair. These modern windows not only improve the overall aesthetics of your home but also help reduce energy costs by providing better insulation and reducing drafts. Opting for windows with larger panes can increase natural light, making your interior spaces feel brighter and more inviting.

To further enhance the look and functionality of your windows, consider adding or updating exterior shutters, interior blinds and curtains, either yourself or through services like Integrity Blinds & Shutters Inc. Exterior shutters come in various styles and materials, such as wood or vinyl and can add a touch of charm and sophistication to your home's façade. Interior blinds, available in options like wood, faux wood, or aluminum, offer privacy and light control while complementing your décor. Lastly, curtains or drapes can add warmth and texture to your rooms, allowing you to play with colors and patterns to suit your style. By combining these elements, you create a cohesive and polished look that boosts curb appeal and enhances your home's comfort and energy efficiency.

Add Some Color
A fresh coat of paint can do wonders for the exterior of your home, instantly revitalizing its appearance and giving it a modern touch. Consider painting your front door a bold color like deep red, navy blue, or vibrant yellow to make a striking statement and create a focal point that welcomes guests. Complement this with colorful accents such as shutters, trim, or window boxes in coordinating shades to add depth and character to your facade. Choose colors that enhance your overall exterior palette for a cohesive look, whether you prefer subtle contrasts or eye-catching combinations.

In addition to enhancing aesthetics, adding color can reflect your personality and style, making your home stand out in the neighborhood. Opt for high-quality, weather-resistant paint to ensure longevity and resilience against the elements. Don’t forget smaller details like repainting the mailbox or refreshing planters to complete the transformation. These colorful updates not only brighten up your home but also increase its curb appeal and market value. By thoughtfully incorporating color into your exterior design, you can achieve a refreshed, inviting and contemporary look that makes your home shine.

Enhance Your Curb Appeal
Simple landscaping updates can go a long way in improving your home's curb appeal. Start by planting a variety of flowers and shrubs to add color and texture to your garden. Use seasonal plants to ensure year-round beauty, and consider adding mulch around your flower beds to maintain moisture and reduce weed growth. Outdoor lighting is another effective enhancement; strategically placed paths and spotlights can highlight your home's architectural features and provide safety and security. Adding a new walkway with materials like brick, stone, or pavers can guide guests to your entrance while updating your driveway with decorative concrete or asphalt, which provides a polished, welcoming look.

Additionally, consider incorporating features such as a charming front porch, stylish house numbers and a fresh coat of paint on your front door to make a bold statement. Trim overgrown hedges, mow the lawn regularly and tidy your garden beds to create a well-maintained appearance. Small touches like window boxes filled with vibrant blooms or hanging baskets can also contribute to a more inviting façade. These enhancements not only boost the aesthetic appeal of your property but also increase its market value, making it more attractive to potential buyers. Investing in these simple yet impactful landscaping updates can transform your home's exterior into a captivating and welcoming space.

Upgrade Your Exterior
If your home siding looks worn or outdated, consider upgrading it with new materials like vinyl or fiber cement. Vinyl siding is an excellent choice due to its durability, low maintenance and resistance to harsh weather conditions. It comes in many colors and textures, allowing you to achieve any aesthetic, from classic to contemporary. Fiber cement siding offers similar benefits with added fire resistance and the ability to mimic the appearance of wood, stucco, or masonry. Both options are energy-efficient, helping to improve your home's insulation and reduce energy costs.

Updating the exterior of your home, whether yourself or through a business like 20/20 Exteriors, with these materials can completely transform its appearance, giving it a fresh, modern look that enhances curb appeal. Investing in high-quality siding improves your home's aesthetics and increases its market value and longevity. Additionally, new siding can provide better protection against pests and severe weather, ensuring your home remains structurally sound. Whether you're planning to sell your home or want to enjoy a refreshed facade, upgrading your exterior with vinyl or fiber cement siding is a smart and stylish choice.

Install Outdoor Features
Consider installing outdoor features like a pergola, deck, or patio to add some personality to your home's exterior. Pergolas add elegance and provide shade, making them perfect for outdoor dining areas. They can be customized with climbing plants, fairy lights, or curtains to suit your style. Decks extend your indoor living space, offering durability and aesthetic appeal with materials like wood, composite, or PVC. They are ideal for hosting barbecues or simply lounging. Patios, made from stone, brick, or concrete, offer versatile spaces for dining, lounging, or play. These low-maintenance features enhance the beauty and functionality of your home's exterior, creating an inviting environment for entertaining guests or relaxing with family.

Freshening up the exterior of your home doesn't have to be complicated or expensive. By implementing these simple ideas like updating windows, adding color, enhancing curb appeal, upgrading the exterior and installing outdoor features, you can easily give your home a facelift and improve its overall appearance. Remember that small changes can make a big impact when it comes to refreshing your home's exterior!

Read more at Rismedia.com

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Just Listed: Spacious Brick Ranch with Modern Upgrades and Charm!

Explore the allure of mid-century modern charm in this spacious brick ranch nestled in the sought-after Applewood neighborhood.

Boasting a bright and airy open floor plan ideal for effortless main floor living. Gleaming hardwood floors and abundant natural light greet you as you step through the front door. This home features a large updated kitchen complete with quartz countertops, stainless steel appliances and sleek modern cabinetry, perfect for whipping up a gourmet meal. Enjoy cozy evenings by the gorgeous living room fireplace complete with built in bookshelves. The primary suite comes complete with an attached bathroom, with 2 additional bedrooms and another full sized bathroom giving you plenty of room for a dedicated office space or workout room. An oversized attached 2 car garage, extra large concrete driveway and a storage shed provide tons of storage space. The huge corner lot has been xeriscaped for easy maintenance and is filled with a canopy of trees that provide beauty and shade for sunny summer days. Conveniently located near shopping, dining, and coffee shops, and with easy access to I-70, Golden, Arvada, and downtown, this home combines comfort, style, and convenience, for modern living. Don't miss out on this opportunity to call this charming mid-century gem your own!

Listed by Sue + Mark for West + Main Homes. Please Contact Sue for current pricing + availability.

 

Have questions?
West + Main Homes
(405) 652-6635
hello@westandmain.com

Presented by:
Sue Perrault + Mark Pledger
303-667-6279
sue@westandmainhomes.com

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Just Listed: Low-Maintenance Living in The Villas at The Meadows!

Welcome to The Villas in the Meadows, a pleasant and vibrant paired-home neighborhood, close to community pools, amazing parks, miles of trails, hiking, incline, and the charming Downtown Castle Rock.

Low maintenance living here - no front mowing or shoveling! This better-than-new, only 3 year old home stands out above the rest with its nearly 2,900 square feet, every showroom upgrade imaginable, huge corner side lot, full basement with tall 9' ceilings, a main-floor bedroom with a 3/4 bath - all very RARE FINDS in this community! The huge open concept floorplan on the main level is a space you'll truly love to be in! Upstairs, you'll be greeted with more LVP flooring in the large loft/bonus space and huge laundry! You’ll be pleasantly surprised by the abundantly generous primary suite and the sprawling mountain views in the 3rd guest bedroom! Upgrades abound with gorgeous quartz counters and tall cabinets throughout, premium appliances, designer backsplash, tall 8' doors, luxury vinyl plank floors, designer light fixtures, honeycomb tile, so many closets, and 800 sq ft of storage space in the basement! Right outside your door and just beyond the cozy covered front porch, you'll find pocket parks, friendly neighbors and sprawling trails. Venture out and visit the historic, yet lively, Downtown Castle Rock restaurants, breweries, and boutique shops! Summer in Castle Rock will make you feel like you're in a small town with Concerts in the Park, Farmer’s Market, Yoga in the Park, Parade, Cattle Drive, and the Douglas County Fair + Rodeo that you won't want to miss! Only 15 minutes to DTC, 35 minutes to Downtown Denver! Come live the good life!

Listed by Janell Arant for West + Main Homes. Please contact Janell for current pricing + availability.

 

Have questions?
West + Main Homes
(303) 935-8787
hello@westandmain.com

Presented by:
Janell Arant
720-469-5332
janell@westandmainhomes.com

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