Lessons Every Homeowner Can Learn This Winter to Prepare for the Next

 
 

This winter has been a tough one, with temperatures lower than expected in some regions and more precipitation than usual.

But it's also been a learning experience, and homeowners can take some lessons from it as they prepare for next winter. Here are some of the things we've learned this winter.

Don't Take Your Home for Granted 
Give it the TLC it needs to weather any storm

In a winter full of unexpected weather, it's easy to let your home needs go unnoticed. But lessons learned this season have taught us that now is the time to give your home some TLC to ensure your place of refuge is in peak condition--whether it be fixing that pesky draft or replacement of worn out windows and pipes. Don't take your home for granted; proper maintenance and care can help you weather any storm life throws at you.

Be Prepared for Anything 
Have a plan and supplies on hand in case of an emergency

We all know that winter weather can be unpredictable, but this past season has been a special reminder of how ready we should always be. When the temperatures plummeted and snowfall exceeded expectations, it was hard to know what to expect. That's why it's important to plan ahead and have a strategy in place - with necessary items on hand, just in case of an emergency. It might take some extra effort and planning, but having peace of mind is invaluable. Being prepared for anything will help ensure that any inconveniences that come along with unexpected weather don't turn into disasters. 

Stay Warm and Comfortable 
Make sure your home is well-insulated

This winter brought a series of surprises with unpleasant weather and more snow than expected. To stay warm and comfortable it is essential to make sure your home is well-insulated. It's important to take the time to check for drafts, detect poor insulation in walls, ceilings, and floors, and seal any openings that let in cold air or moisture; all of these steps can help keep your living space at a pleasant temperature. As well, the exterior of your house might need some focus, whether it's your windows that are not up to the task of keeping the heat in or your roof that leaks in inconvenient places. Consulting a company like Liberty Exteriors LLC can give you an idea of whether or not your roof is properly doing its job. Investing a bit of effort into the upkeep of your home during this winter can ensure that you’ll be able to rest easier, even during unpredictable weather conditions.

Keep Things Clean and Tidy
Avoid slip-ups and accidents

Keeping things clean and tidy is an effective way of avoiding slip-ups, accidents, and other preventable issues. We have a responsibility to do whatever we can to prevent hazardous conditions. By taking the necessary time to focus on tidiness such as clearing away snow and ice or sweeping up wet leaves, we can guarantee that our yards and driveways remain safe. As well, making sure to keep our indoors organized can be beneficial. Instead of leaving blankets out to get worn and stepped on, make sure to keep things tidy to care for the things you own. A little bit of extra care goes a long way, especially during the wintertime!

Check In on Your Neighbors
…Especially if they're elderly or live alone

Although the unusually cold, wet winter weather might be wrapping up where you live, it's important to remember the lessons we learned. Especially when it comes to looking out for our neighbors. We should all do our part in checking in on those who are particularly vulnerable - especially the elderly and those that live alone. Even if you're not able to provide any resources, a little bit of kindness goes a long way and can help give people a little extra peace of mind during difficult times. So let's continue to keep our friends and neighbors safe by taking care of each other.

Winter may soon start winding down (hopefully), but that doesn't mean we should let our guard down. These past few months have been a great reminder of the importance of taking care of our homes and being prepared for anything. By following these simple tips, we can make sure that we're ready for whatever mother nature throws our way. So as you start to pack away your winter gear, keep these lessons in mind and you'll be all set for whatever comes next.

Keep reading.

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Just Listed: Charming Home in the Heart of Edmond!

 
 
 

Located in the highly sought-after Clegern Place community, this home is the absolute cutest!

The built-ins, brick wrap-around wood-burning fireplace, and original hardwood floors give this home so much character. This charming home is a true 2-bedroom with a study and 1.5 baths - Don’t miss the vintage tile! This house features a huge backyard with a storage shed and a firepit perfect for entertaining and making all the s’mores. You are going to love living here!

Listed by Autumn Nicole for West + Main Homes. Please contact Autumn for current pricing + availability.

 
 
 

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

Presented by:
Autumn Nicole
(405) 420-3661
autumn@westandmainok.com


 

Just Listed: Entertainer's Dream Home in Village Verde

 
 
 

Fabulous and modern in Village Verde!

This is an entertainer's dream. Spacious floor plan. Luxurious fireplace and close to the highway and Kilpatrick turnpike. This three bed/two bath home has so much to love. Cross the covered patio with vaulted arches and enter the front door to reveal high ceilings and open concept living space. Just to the right you'll find a home office space next to the laundry. Check out the kitchen with ample counter space and a large pantry. Large primary suite with double vanity and walk-in closet. Giant backyard with covered back porch. Piedmont schools on a quiet street. The HOA offers a park and a volleyball court for summer fun!

Listed by Ben + Ace Scott for West + Main Homes. Please contact Ben or Ace for current pricing + availability.

 
 
 

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

Presented by:
Ben + Ace Scott
(405) 306-8839
ace@westandmainok.com


 

This Weekend: Oklahoma City Metro Area Open Houses for February 3rd-5th

 
 

Our agents are hosting Open Houses this weekend all over the OKC Metro. You can find all of these listings on our website. Please reach out to the listing agent for information on times and more information on the listing!

 
 

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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2023’s Housing Market Is Looking Up: 3 Things That Should Give Homebuyers Real Hope

 
 

After suffering all-time lows during the COVID-19 pandemic, the supply of homes for sale has rebounded with a bang.

January marked a whopping 65% more real estate listings than this same month a year earlier, according to a recent inventory report from Realtor.com®.

And while home prices are still up year over year, they’ve declined from the pandemic peak. January’s median home list price clocked in at $400,000—holding steady since December but much lower than June’s record high of $449,000.

In addition to this deluge of homes for sale at more reasonable prices, mortgage rates are also down from their 20-year high, which broke 7% in November. For the week ending Jan. 26, Freddie Mac found that rates for a 30-year fixed-rate loan averaged a mere 6.13%.

These three things—lower mortgage rates, stabilizing home prices, and a glut of listings—spell a long overdue opportunity for homebuyers to jump into the market and snag a deal.

“The fact that mortgage rates are down from their November highs means that today’s homebuyers aren’t paying quite as much as they did before,” says Danielle Hale, chief economist of Realtor.com.

Plus, mortgage rates might dip lower still.

“Further declines in inflation are expected at this point, but if they register faster than expected, that could mean a further drop in mortgage rates,” Hale predicts. “This would bring back purchasing power for buyers and help close the current gap between what many sellers hope to sell for and what buyers are willing to pay.”

‘An interesting year’ for real estate?

Yet the unpredictability of what interest rates might do next has many buyers and sellers nervous about forging ahead.

“January data tells us that it’s going to be an interesting year,” says Hale. “Both sellers and buyers are feeling their way out of this market stalemate with a keen eye on the broader economy and interest rates.”

While steadily climbing inventory means buyers can enjoy plenty of homes to shop and a more balanced negotiation with sellers, their affordability challenges persist. Despite the recent dip in interest rates, median mortgage payments are still about $750 higher each month than they were just one year earlier.

Additionally, many potential buyers are facing financial crunches in many aspects of their lives due to stubborn inflation. The net result? Many bottom-line-minded buyers are unable or unwilling to make offers on homes as aggressively as they were a few months ago, if at all.

As a result, many homes are simply sitting on the market an average of 75 days—way longer than the June rush, when listings lingered a mere 32 days before being snapped up.

That’s why inventory is so much higher: It’s not that more homes are going up for sale; rather, the ones that are on the market already aren’t selling as fast.

Why home sellers are hibernating

Meanwhile, many potential sellers are remaining in their homes rather than listing for one simple reason: They’re locked into mortgages with low interest rates they aren’t willing to give up. Sellers might also be hesitant to list properties that will simply sit there growing stale with nary an offer in sight.

And so the increase in listings—which breaks down to 248,000 more homes on any given January day—hides an important caveat: In January, new listings were down 2.8% on a year-over-year basis, following a much steeper year-over-year drop of 21% in December.

Why does this decline in fresh homes for sale matter? Because new listings help drum up demand and attract buyers, many of whom have already checked out (and passed over) listings that have been lingering on the market for months.

“Fresh listings are a new opportunity for buyers because they might mean they will better fit the needs and budget of potential buyers,” says Hale. However, she urges buyers to give those long-in-the-tooth listings another look, since this is where sellers might be desperate enough to lower their price.

“One benefit to buyers of looking at older listings is that their sellers may be more willing to negotiate,” Hale explains. “Sellers of new listings are typically going to want to see how many offers they can attract in a week or more before they consider negotiating with a buyer.”

Where inventory is soaring

Regions in the South and West have taken a beating in the market downturn, with supply far outweighing demand, sometimes by staggering numbers.

Take Nashville, TN, a pandemic darling. Once red-hot Nashville saw its inventory grow by a whopping 304.2 % on a year-over-year basis in January, according to Realtor.com data.

“In December 2021, we had just over 3,600 units available on the market,” says local real estate agent Brian Copeland, of Tennessee’s Doorbell Real Estate. “At the end of December 2022, we had just over 8,200 units.”

Copeland explains that there are several factors at play in the rise in inventory. One is pricing, with some sellers still putting homes on the market for $25,000 over comparable properties.

“Sellers aren’t being as realistic with pricing straight out of the gate,” says Copeland. “When you couple that with higher interest rates, it causes a slowdown.”

Hale agrees with this on-the-ground assessment: “What we see in the data is that while home sellers are more likely than a year ago to reduce their asking price, the majority of home sellers are still not making reductions,” she says.

What will happen to housing in the year ahead?

To get the market moving again, perhaps both buyers and sellers need to budge and make some concessions so they can meet in the middle.

“With macroeconomic conditions continuing to shift and adjust, it’s more important than ever to focus what you can control and on your individual goals,” Hale says. “As a seller, you can’t create more buyers, but you can price appropriately for the buyers that are in the market.”

As for buyers? Don’t forget your negotiating power as the new year gears up rather than letting high listings prices push them past what they can afford.

“As a buyer, you can’t set the market price, but you can determine what you’re comfortable paying, and make the best offer you can on a home that fits your needs and falls within your budget range,” Hale says.

Get more insight on Realtor.com

Related Links

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.

Search Homes in Colorado

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Search Homes in Oregon