Repairs You’ll Need to Take Care of After Moving Into an Old Home

The first thing you'll need to do when moving into an old home is to check for any repairs that need to be made.

This includes both major and minor repairs. Significant repairs could include fixing a leaky roof or repairing a broken foundation. Minor repairs could involve fixing a loose doorknob or painting over a cracked wall. No matter what kind of repair you're dealing with, it's important to take care of it as soon as possible. Otherwise, the problem will only get worse over time. Here are a few repairs you'll need to take care of after moving into an old home.

Dated Appliances
They are a common sight in many old homes. While they may be charming, these appliances can also be a source of frustration for homeowners. The good news is that a few simple repairs can help keep them up to date. First, take a look at the door gaskets. These seals keep the door closed and prevent cold air from escaping. Over time, these gaskets can become brittle and cracked. Replacing them is a relatively easy and inexpensive repair that can make a big difference in your fridge or freezer performance. Another common issue with older appliances is rust. Rust can not only cause cosmetic damage, but it can also interfere with the appliances’ ability to function properly. If you have big concerns with your appliances, talk to a plumber to see if they can help. 

Drafty Windows
One of the most important repairs to do is addressing drafty windows. While weather-stripping and caulking can help, it's necessary to replace the windows in many cases. Not only will this improve your home's energy efficiency, but it will also help to reduce noise pollution and make your home more comfortable overall. Of course, replacing windows can be a significant expense. But if you plan and budget for it, you can make this important home improvement without breaking the bank.

Squeaky Floors
The movement of the floorboards causes them as they settle into the house's frame. Over time, this can cause the nails that hold the boards in place to loosen and come out. As a result, you'll need to re-nail the boards regularly to keep them from becoming loose again. In addition, you may also need to add some additional support to the floor to keep it from sagging over time.

Peeling Paint
Paint is one of the essential things in a house. Not only does it add color and life to a room, but it also protects the surface of walls from damage. However, paint can also be a source of repair issues, especially in older homes. One problem that often arises is peeling paint. This can happen for several reasons, including poor quality paint, inadequate preparation of surfaces before painting, and excessive moisture. Peeling paint can be unsightly and may create additional repair issues if not addressed promptly.

If you're moving into an old home, be prepared for some necessary repairs. Knowing what to look out for and being proactive about taking care of any problems that arise, you can help keep your new home in good condition and minimize the amount of money and time you'll need to spend on repairs down the road.

Read the full article on RISMedia.

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8 Things First-time Homebuyers Need After Moving In—and Always Forget

First-time homebuyers are no doubt excited when they move in, and eager to furnish their new digs with all the essentials.

But here’s the rub: While they may be thrilled to buy the perfect coffee table and ottomans—and those things are certainly nice to have—they may not be exactly necessary.

In the excitement of setting up your first house, it’s all too easy to overlook a few items that will truly come in handy.

Curious about what you might be missing? We canvassed new homeowners as well as real estate pros for the essentials you’ll want at the ready on move-in day. Behold these eight surprising must-haves to add to your cart, plus some advice on picking the best of the bunch.

1. Fire extinguisher

Every broker and homeowner polled for this article made a fire extinguisher priority No. 1. Place one on every floor in your new home, and definitely include one in the kitchen since most fires start here.

It’s also smart to have a fire extinguisher in the garage or shed in case dry leaves or other yardwork spark a flame.

This pick ($60, The Home Depot) offers a six-year warranty and sports clear graphics to illustrate how it’s used. (Smart tip: As soon as you can, take the whole family into the backyard and practice using it.)

Plus, “make sure you have working smoke detectors and a working carbon monoxide detector,” says Kimberly T. Hastie, a top New York-based Licensed Associate Real Estate Salesperson with Brown Harris Stevens residential sales. “Be sure to check in advance that your new home has one, and if it doesn’t then add it to the top of your shopping list. And if your new home does already have one, make sure it’s working! The last thing you’ll want is to move into your new home and then find out months later that your carbon monoxide detector hasn’t been working.”

2. Heavy-duty garbage cans

After years of apartment living, you’re no doubt used to tossing your garbage bag down a chute or leaving it for a building staffer to pick up. But once you become a homeowner, curbside pickup is usually the way trash and recyclables are hauled away, which means you’ll need a sturdy can that will withstand the elements.

A rugged container keeps your waste safe and smell-free and is especially smart since “you may not have set up trash collection service by the time you’ve moved in,” says Caroline Kalpinski, a real estate agent with Sotheby’s International in Asheville, NC.

Backed by a 10-year warranty, this heavy-duty trash bin ($65, Lowe’s) has a tight seal to thwart critters from diving for corn cobs and is compatible with many types of municipal truck lifters.

3. Flashlights

Why struggle to find the breaker panel in the basement? A flashlight on hand will save you every time, whether there’s a power outage due to a storm or you’re poking around in a dark crawl space for the first time.

This four-pack ($14, Amazon) is ideal since you can keep one each in the kitchen, the bedrooms, and the garage. These flashlights also come with batteries (for 60 hours of juice).

4. Sump pump

A sump pump is pricey, but even if you think the basement will never flood, cleaning up even one busted pipe is worth the investment. Plus, it’s hard to tell what the weather can bring in a new location, so it’s better to be prepared.

Pre-assembled and ready to pop in, this energy-efficient sump pump ($449, The Home Depot) has a battery backup system and round-the-clock monitoring capability.

5. Power strips

Extension cords are obvious, as your new house might be larger or “the TV and lamps might be in different areas than your previous home,” says Adam Graham, an industry analyst who covers real estate and home construction at Fixr. But along with longer cords, add power strips to your cart (bonus if they have USB ports).

These strips ($30 for a two-pack, Amazon) come with surge protection, six outlets, and USB options. The steel gray tone will blend nicely into most color schemes.

6. Step stool

On Day One (or Day Two), you’ll be hanging everything from blackout shades and curtains to framed photos and a pot rack. And don’t forget about changing hard-to-reach lightbulbs.

For all of these tasks, a simple step stool is essential, especially one with an anti-skid rubber bottom and the ability to withstand 300 pounds on top.

We love that this stool comes in four different sizes and seven colors like pink, ocean blue, and coral ($20, Amazon).

7. Stud finder

Becca Stewart, a military spouse in San Antonio, TX, who moves frequently, swears by her tool kit and work gloves for all the handiwork you need to do on move-in day. But this box isn’t complete without a stud finder.

You need this device to locate the studs in your walls so the pictures, mirrors, and huge flat-screen TV are anchored securely. (Most items can’t hang safely on drywall alone.).

This well-priced stud finder ($30, Amazon) can locate metal, live wires, pipe, and more behind your walls so you don’t bang away blindly. And the LCD screen and alarm offer both visual and audio clues, which means you’ll never mis-hang anything in your new home.

8. Outdoor key box

There’s nothing worse than returning to your new home during the first week and realizing you can’t find the key to your front door.

The fix: A lockbox with a protective cover will hold an extra set of keys as long as you can remember the four-digit code. (Your birthday, perhaps?)

This pick ($17, Amazon) is easy to set up as it comes with the mounting hardware you need, and there’s room for multiple keys within, like for the back shed or car. You’ll sleep better knowing there’s an extra key for anyone whose backpack or purse tends to be a black hole for important items like a key.

Get more tips like this on Realtor.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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Flooring Alternatives for That ‘Hardwood Look’ on a Budget

Innovation in construction materials means there are a number of flooring alternatives that can give your home the hardwood look without the high price tag.

Laminate and engineered wood are two popular choices that offer the beauty of hardwood at a fraction of the cost. Let's take a look at some of the alternatives that will fit into a tight budget.

Laminate
Laminate is a synthetic product made to look like wood. It is composed of several layers of pressed wood that are fused together with a synthetic resin. The top layer is a photograph of wood grain that is protected by a wear-resistant clear coating. Laminate is much less expensive than hardwood and can be installed over almost any type of subflooring. Installation of laminate can be a do-it-yourself project that will save you even more money, but if you choose, a professional installer can do the job quickly and reasonably.

Engineered Wood
Engineered wood is a product made from real wood that has been shredded and reconstituted with a binding agent. The top layer is a hardwood veneer that can be stained and finished to look like almost any type of wood. Engineered wood is more expensive than laminate, and comes in a variety of colors and grain patterns, such as engineered oak flooring. Engineered wood is more expensive than laminate but less expensive than hardwood. Installation is similar to laminate and can be done by a do-it-yourselfer or professional installer.

Vinyl
Vinyl has come a long way in recent years and can now be made to look like almost any type of flooring, including hardwood. Vinyl is made from PVC plastic and is waterproof, making it a good choice for areas that are prone to moisture, such as kitchens and bathrooms. Vinyl is less expensive than engineered wood and can be installed by the do-it-yourselfer or professional installer.

Bamboo
Bamboo is grass that is harvested and made into flooring. Bamboo is a sustainable and renewable resource that is becoming more popular as a flooring alternative. Bamboo is harder than oak and can be stained or finished to look like almost any type of wood. Bamboo is more expensive than laminate but less expensive than hardwood and is a favorite option among those who are seeking to build a green home due to its sustainability.

These are just a few of the many flooring alternatives that can give your home the hardwood look without the high price tag. With so many choices available, you are sure to find one that fits both your budget and your style.

Get more like this on RISMedia.

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As Featured in West + Main Home Magazine: Exterior Overhaul

What started as a smaller project to fix chipped paint + rot on the fascia boards turned into a complete remodel of the exterior of her home for West + Main agent Jessica Thompson.

What started as a smaller project to fix chipped paint + rot on the fascia boards turned into a complete remodel of the exterior of her home for West + Main agent Jessica Thompson.

Deciding to rip off all of the vinyl siding and see what's underneath, Jessica was met with completely rotted wood and decided to tear it all out.

"This project had a snowball effect, as we started off with a small ball, it got bigger and bigger as we kept going,” said Jessica. “There was no budget, it was more of a pay-as-you- go-or-can-afford situation.”

“I wouldn’t change a thing because the project turned out exactly as I envisioned!"

Before, during, and after of the exterior.

Jessica was inspired by the families in Disney movies who always lived in beautiful craftsman-style homes, and she knew she wanted to incorporate this look along with energy-efficient upgrades and historic features to create her dream exterior.

To figure out the design, Jessica uploaded a photo of her house to her Instagram story and drew in a porch with the colors she wanted, as well as the style of columns.

“Whatever it is, the way you tell your story online can make all the difference.It’s hard to choose a favorite part of the project, but one thing I knew I wanted from the beginning was the pyramidal brick columns. My great-great grandmother, who lived two blocks from our house, had them and I felt like the column shape would help maintain the historical accuracy of the home.”

— Jessica Thompson

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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Even with sales down, home prices up 10.8%

Today the National Association of Realtors reported that the trend of declining existing home sales, which we have seen since mortgage rates rose, is getting worse.

But that isn’t the worst part of the data line! The shocking stat (for some, not for me) is that even with the significant decline in sales since January of 2022, the median sales price is up 10.8% year over year. The savagely unhealthy housing market continues — a function of starting the year at all-time lows in inventory.

From NAR: Total existing-home sales slipped 5.9% from June to a seasonally adjusted annual rate of 4.81 million in July.

I was concerned about 2022 home-price growth because by October of 2021, I knew we would start 2022 at all-time lows in inventory, which can create forced bidding action. I am not a fan of forced bidding action under any circumstances, but when it’s due to a raw shortage of homes and not a credit boom, as we saw from 2002-2005, it’s even worse.

NAR: The median existing-home price for all housing types in June was $403,800, up 10.8% from July 2021 ($364,600), as prices increased in all regions. This marks 125 consecutive months of year-over-year increases, the longest-running streak on record.

On the good news, inventory is rising, which is a positive. The parts of the country where inventory levels are at peak-2019 levels or higher are officially off the savagely unhealthy market list because they have plenty of inventory to have a more functional housing market. However, as a nation, we aren’t there yet.

NAR: The inventory of unsold existing homes rose to 1.31 million by the end of July, or the equivalent of 3.3 months at the current monthly sales pace.

My rule of thumb is that I will take the savagely unhealthy housing market theme off once we can touch 2019 peak levels of 1.93 million homes for sale and have at least four months of supply, which would mean a balanced housing market in my book. I am looking for a range of 1.52-1.93 million, something I have talked about for some time post-COVID-19.  Because inventory is very seasonal — it falls in the fall and winter and then rises in the spring and summer — it’s not going to happen in 2022, but hopefully, we can get there next year.

NAR lists total current inventory at 1.31 million. Historically we are between 2-2.5 million. The peak in 2007 was roughly 4 million.

One of the most painful data lines to watch over the last two months has been the median days on the market, which have now broken to all-time lows. In a regular housing market, we are over 30 days, which is why I want the total inventory to get back to 2019 levels to have more balance nationally.

NAR: First-time buyers were responsible for 29% of sales in June; Individual investors purchased 14% of homes; All-cash sales accounted for 24% of transactions; Distressed sales represented approximately 1% of sales; Properties typically remained on the market for 14 days.

To give you some historical perspective here, you can see why I am using the term savagely unhealthy, as the median days on the market have never been lower in history.

Higher days on market mean choices for buyers and sellers. We never focus on the seller aspect because it’s easy to forget that a traditional primary recent home seller is also a buyer. Now that rates are up a lot, some sellers can’t afford to move or have delayed moving.

However, this is a good thing for others that need to move, as it means more inventory and more choices. This is one of the reasons I haven’t been the biggest fan of the housing market in recent years: we lacked options and time for people to have a more traditional home-buying and selling process. Over 30 days is preferable; anything that is a teenager isn’t a good thing at all.

This year, we saw that housing acted poorly when mortgage rates exceeded 6%. Of course, we have seen a 1% move lower and a lot of back-and-forth action on rates daily. If mortgage rates can head toward 4% again, the market should act better. However, until then, the market is still dealing with the affordability shock to demand as rates jumped massively this year. This, on top of the 44% + home-price growth since 2020, is a meaningful hit on affordability.

Purchase application data was down 1% weekly and down 18% year over year. The four-week moving average is down 17.75%. I had anticipated four-week moving average declines of 18%-22% once mortgage rates got above 4%. That didn’t happen, but rates above 5% did the trick.

We will soon enter a time where the year-over-year comps will be more challenging because we will have a higher bar to work from. Last year starting in October, mortgage demand started to pick up noticeably and pushed the existing home sales data toward 6.49 million at the start of this year. Some of the year-over-year data can look weaker than the 18% decline trend we have recently just due to higher comps.

Keep reading on Housing Wire.

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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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