February 8, 2024

West + Main Homes

Colorado, Colorado Springs, Minnesota, Mountains, National, North Carolina, Oklahoma, Oregon

Don’t Wait Until Spring To Sell Your House

February 8, 2024

West + Main Homes

Colorado, Colorado Springs, Minnesota, Mountains, National, North Carolina, Oklahoma, Oregon

As you think about the year ahead, one of your big goals may be moving.

But, how do you know when to make your move? While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell. Here’s why.

1. Take Advantage of Lower Mortgage Rates

Last October, the 30-year fixed mortgage rates peaked at 7.79%. In January, they hit their lowest level since May. That means you may not feel as locked-in to your current mortgage rate right now. That downward trend in rates has made moving more affordable now than it was just a few months ago.

Another reason today’s rates make now a good time to sell? More buyers are jumping back into the market. Many had been waiting on the sidelines for rates to fall, but now that that’s happening, they’re eager and ready to buy. That means more demand for your house. According to Sam Khater, Chief Economist at Freddie Mac:

“Given this stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market.”

2. Get Ahead of Your Competition

Right now, there are still more people looking to buy a home than there are houses for sale, which puts you in a great position. But keep in mind, with the recent uptick in new listings, we’re seeing more sellers may already be re-entering the market.

Listing your house now helps you beat your competition and makes sure your house will stand out. And if you work with an agent to price it right, it could sell fast and get multiple offers. U.S. News explains:

“When there is low housing inventory, sellers could get top dollar for their homes.”

3. Make the Most of Rising Home Prices

Experts forecast home prices will keep going up this year. What does that mean for you? If you’re ready to sell your current house and plan to buy another one, it may be a good idea to think about moving now before prices go up more. That would give you the chance to buy your next home before it gets more expensive.

4. Leverage Your Equity

Homeowners today have tremendous amounts of equity. In fact, a recent report from CoreLogic says the average homeowner with a mortgage has more than $300,000 in equity.

If you’ve been waiting to sell because you were worried about home affordability, know your equity can really help with your next move. It might even cover a big part, or maybe all, of the down payment for your next home.

Bottom Line

If you're thinking about selling your house and moving to another one, connect with a local real estate agent to get the process started now so you can get a leg up on your competition.

The Best Things to do in Bend For February

February 5, 2024

West + Main Homes

Oregon

If there’s snow in the mountains and heart-shaped cutouts in shop windows, it must be February in Bend.

It’s a month filled with wintery fun and fireside snuggles, with Valentine’s Day landing right in the middle like a bright cupid’s arrow. There’s love in the air, along with that crisp winter chill.

Wondering what to do, see, eat, or drink this February in Bend? Here’s what’s happening in this itty-bitty month packed with lotsa heart and soul.

Love is in the air

I’ll admit up front that I perhaps put overemphasis on the love aspect of our shortest month. Blame Visit Bend’s use of a tourism blogger who’s also a USA Today bestselling romance author. Guess I’m wired to see love all around?

In 13+ years of this blog, I’ve rounded up wintery ways to show your love, some fabulous Valentine’s dates, and Valentine’s gifts to exchange besides germs (it was pandemic times, what can I say?)

I guarantee I’ll never run out of romance-inspired blog ideas, but my author career has little to do with it. There’s simply something magical in Bend each February.

Bend restaurants bust out specialty menus filled with comfort food and prix fixe dinners designed for romantic dates. Tour companies like Wanderlust bust out Valentine’s packages (and I’m still all heart-eyed over a coworker’s Wanderlust snowshoe wedding last year). Out at Juniper Preserve, try the one-of-a-kind experience of a romantic dinner in a lava tube cave.

Why not embrace February as a chance to show your sweetheart how much you care?

Book a couples’ massage day at a Bend day spa. Take a romantic twirl together with a skate date at The Pavilion’s ice rink. Pick a Bend Sno-Park and make snow angels together. Heck, go the freebie route and use a fingertip to draw a heart in frost on your honey’s car window.

No sweetie in your arms this year? Show your love for Bend’s wild places when you practice Leave No Trace principles while exploring outdoors.

If Rover’s the love of your life, spread the love from him to Bend pet stores with a visit to Bendy Dog or Bend Pet Express for a fresh bag of treats and a blingy new collar.

There’s enough love in Bend to leave you dizzy. Spread some around this February!

Squeeze in some snow play

Mt. Bachelor boasts one of the longest ski seasons in North America, spanning from November through the end of May (weather permitting).

But don’t get cocky thinking you’ve still got half a season left.

March and April get busy with crowds of spring breakers flocking from around the Pacific Northwest. While May can bring epic bluebird days, it can also bring naked ski slopes if it’s not a great snow year.

You never know what you’ll get, so February’s a great time to get serious about booking your winter trip. Schedule some ski lessons or that sled dog ride you’ve been dreaming of.

Plan ahead by buying tickets for Winter Pridefest before midnight on February 1. That’s how you score the best price for this amazing event happening March 7-10.

If snowmobiling’s on your bucket list, now’s the best time to book that grand adventure. Add it to a romantic winter getaway complete with a couples’ cross country ski outing or a snowshoeing trip to a snuggly, cozy warming hut.

We’re back to romance again, aren’t we?

Embrace your love of beer

Fans of beer-centric events like Bend Brewfest and Bend Ale Trail Month may not know of February’s lesser-known beer celebration.

But Zwickelmania and its assortment of tours, tastings, and prizes is one of my favorite beer events of the year.

Sponsored by the Oregon Brewers Guild, it’s typically split into two weekends, with Portland peeps getting their own event a week before Bend’s breweries throw open their doors for throngs of beer fans. It’s a more intimate event than you’ll find at some of those bigger shindigs, with a chance to chat with brewers and sample seasonal beers. Some even offer kiddie games and other family fun.

Can’t make it out that weekend? February’s still a great time to sample all those hearty winter ales and thick porters along the Bend Ale Trail. With summer’s crowds a distant memory, you’ll have an easier time finding tables or fireside sipping spots at your favorite Bend brewery.

They’re playing our song

Considering the size of this shortest month, February sure brings a lot to the table for Bend’s music front.

One of my favorite musical events kicks off when Bend A Cappella Fest takes the stage. It’s the Northwest’s only festival focusing on masterclasses, a cappella performances, and camaraderie. Each year’s lineup is different, but you’ll almost always see names you recognize from shows like Pitch Perfect or The Sing-Off. Grab tickets early, since this one tends to sell out.

Speaking of tickets getting snapped up fast, it pays to plan ahead for Jazz at the Oxford. This seasonal series spans November through March, and many snows sell out quickly. Take a look at what’s on tap for February, then cross your fingers you snag seats for a show at this uber-cool series.

While you’re feeling classy, browse the schedule for Central Oregon Symphony. Winter concerts range from brass musicians to string shows and more. Tickets often sell for tiny prices at modest venues like local high schools.

If opera’s your jam, it’s worth a look at what’s happening with Opera Bend.
Pro tip: By the time February hits, Hayden Homes Amphitheater has usually announced about a dozen summer concerts, with more on the way. Watch closely, as popular acts sell out in minutes. Make sure you’re on their email list so you don’t miss any concert announcements. Then plan to pounce fast when you see one you like.

Bust out those boots

It’s not all snow and ice when you head for Bend in winter. You’ll find plenty of inspiring winter hikes from Sawyer Park to the Tam a Lau Trail to good ol’ Pilot Butte.

We’re still a few months out from snow gates opening at popular spots like Tumalo Falls, the Cascade Lakes Scenic Byway, and Newberry National Volcanic Monument, but why miss the chance to explore in uniquely wintery ways?

Book a fat bike tour with Cog Wild for the thrill of cycling on snow. If that’s not your scene, find plenty of snow-free routes on the Cascades Gravel Scenic Bikeway.

Take a chance on only-in-winter adventures like snowshoeing or ice skating, then wrap things up with some fireside suds at your favorite Bend brewery.

Cheers to this short but oh-so-sweet month in Bend!

The Housing Market’s ‘Affordability Picture’ May Finally Be Coming Into Focus

February 2, 2024

West + Main Homes

Colorado, Colorado Springs, Minnesota, Mountains, National, Oklahoma, North Carolina, Oregon

As of late, the housing market seems to be in standby mode, ready to rev up if mortgage rates fall or further stagnate if rates rise.

Currently, mortgage rates are toggling back and forth in the mid-6% range, down from the high 7% range in the fall of last year. According to the latest Freddie Mac data, rates for a 30-year fixed-rate home loan ticked down to an average of 6.63% for the week ending Feb. 1. (Last week’s rate averaged 6.69%.)

Yet the suspended state of rates does not mean there was complete stasis in the real estate market. While the big picture might show a market barely shifting gears, a closer look at the latest Realtor.com® data at the end of January reveals a different story—maybe even a (gasp) happy story where the market is picking up steam.

We’ll explain what the latest housing market data means for buyers and sellers in this newest installment of “How’s the Housing Market This Week?”

Real estate listings have returned

The engine powering the housing market’s surprising burst of activity is the number of homes for sale, which shot up by 10.1% year over year for the week ending Jan. 27.

“For a 12th consecutive week, active listings registered above the prior-year level, which means that today’s home shoppers have more homes to choose from,” says Realtor.com Chief Economist Danielle Hale in her most recent analysis.

Many of these listings are newly on the market, too, with 2.1% more home sellers jumping in this week compared with a year earlier.

“While the jump was not as big as seen in recent weeks, further improvement in new listings will help contribute to a recovery in active listings, meaning more options for home shoppers,” explains Hale.

This influx of listings has many buyers ready and raring to make a deal with their checkbooks at the ready.

Homes were snapped up three days faster for the week ending Jan. 27 compared with this time last year. This marked 17 weeks the typical home spent less time on the market than the same week the year prior. (The typical home spent 69 days on the market in January.)

In general, though, it’s worth remembering that overall housing inventory remains a whopping 40% below 2017 to 2019 levels. Still, this latest uptick in listings is a welcome step in the right direction.

The mortgage rate outlook

The Federal Reserve met at the very end of January. While it didn’t raise its interest rates to combat inflation, it didn’t lower them either. That means mortgage rates, which generally follow the same trajectory as the Fed’s rates, aren’t likely to drop by as much as many homebuyers had hoped.

“Incoming data will continue to be an important arbiter of the likely rate path, and the Fed is waiting to see what results, alongside everyone else,” says Hale. For example, if the data shows that inflation has fallen below the Fed’s 2% target, the Fed could cut rates sooner.

Hale explains that buyers and sellers face an unknown future as to exactly when—and in what direction—rates might go. However, she predicts “the general trend is likely to be lower, in line with Realtor.com’s 2024 Housing Forecast and also in line with consumer expectations, which have pivoted toward this reality in recent weeks.”

Sam Khater, Freddie Mac’s chief economist, agrees.

“Mortgage rates have been stable for nearly two months, but with continued deceleration in inflation, we expect rates to decline further,” he said in a statement.

Why home prices still seem stuck

Mortgage rates aren’t the only variable seemingly stuck in limbo. Home prices have also “been in a rough holding pattern since May 2023,” explains Hale.

Indeed, the median list price was up just 0.2% for the week ending Jan. 27 compared with the same week last year. (The median list price in January was $409,500.)

List prices typically dip during winter, then rise once temperatures warm up as home shoppers show up in droves. This seasonal upswing typically starts as early as January.

“The nation’s median home listing price typically rises after the first week of the year,” says Hale. This year, however, it might not be by much.

“We may not see the intensity of increase that we’ve seen in 2021 to 2023,” adds Hale.

Hale predicts that cooling home price growth might, along with softening mortgage rates, “give buyer incomes a chance to catch up and improve the affordability picture.”

Will a Silver Tsunami Change the 2024 Housing Market?

February 1, 2024

West + Main Homes

Colorado, Colorado Springs, Minnesota, Mountains, National, North Carolina, Oklahoma, Oregon

Have you ever heard the term “Silver Tsunami” and wondered what it’s all about?

If so, that might be because there’s been lot of talk about it online recently. Let’s dive into what it is and why it won’t drastically impact the housing market.

What Does Silver Tsunami Mean?

A recent article from HousingWire calls it:

“. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .”

The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation is, if these moves happened in a big wave, it would affect the housing market by causing a significant uptick in the number of larger homes for sale. That influx of homes coming onto the market would impact the balance of supply and demand and more.

The concept makes sense in theory, but will it happen? And if so, when?

Why It Won’t Have a Huge Impact on the Housing Market in 2024

Experts say, so far, a silver tsunami hasn’t happened – and it probably won’t anytime soon. According to that same article from HousingWire:

“. . . the silver tsunami’s transformative potential for the U.S. housing market has not yet materialized in any meaningful way, and few expect it to anytime soon.”

Here’s just one reason why. Many baby boomers don’t want to move. Data from the AARP shows over half of the surveyed adults ages 65 and up plan to stay put and age in place in their current home rather than move (see chart below):

Clearly, not every baby boomer is planning to sell or move – and even those who do won’t do it all at once. Instead, it will be more gradual, happening slowly over time. As Mark Fleming, Chief Economist at First American, says:

“Demographics are never a tsunami. The baby boomer generation is almost two decades of births. That means they’re going to take about two decades to work their way through.”

Bottom Line

If you’re worried about a Silver Tsunami shaking up the housing market, don’t be. Any impact from baby boomers moving will be gradual over many years. Fleming sums it up best:

“Demographic trends, they don't tsunami. They trickle.”

6 Subtle Things That Make Your Home Feel Comfortable and Polished

February 1, 2024

West + Main Homes

Colorado, Colorado Springs, Minnesota, Mountains, National, North Carolina, Oklahoma, Oregon

When it comes to creating a comfortable and polished home, it's the little things that count.

Whether it's adding a pop of color or changing the light fixtures, small updates can make a big difference. In this post, we'll discuss subtle yet effective ways to make your home feel inviting and refined. These tips don't require a major overhaul or breaking the bank; they simply require a little effort and creativity. Read on to find out how you can create a cozy, welcoming atmosphere in your home. Let's get started!

Incorporate Soft Lighting
Nothing sets the mood in a room quite like lighting. Whether it's a soft and warm glow or a bright and intense light, lighting has the power to affect how we feel and interact in a space. Incorporating soft lighting in your home can make it feel more relaxing and comfortable. Consider adding lamps with warm bulbs, incorporating candles, or implementing a dimmer switch to create a cozy atmosphere.

The best places to add soft lighting in your home are areas where you want to create a warm and inviting ambiance. This could be in the living room, bedroom, or even the bathroom. Placing lamps on side tables next to seating areas is an excellent way to add soft lighting while also providing functional light for reading or relaxing. Adding candles on shelves or coffee tables can also create a cozy and intimate atmosphere.

Declutter Regularly
Clutter and chaos can quickly change a room's vibe, making it feel less comfortable. Decluttering regularly and keeping a space organized can create an inviting and calming environment. It also helps to eliminate stress, ensuring that you can relax in peace and enjoy your space more.

Decluttering can be done at any time, but it's especially helpful to declutter before adding new décor or furniture. This ensures that you have a clean slate to work with and can properly evaluate what items are necessary and what can be removed. It's also beneficial to declutter as part of your regular cleaning routine, whether it's once a month or every few months. This way, clutter doesn't accumulate and becomes overwhelming.

Display Personal Items Thoughtfully
Adding personal items, such as photographs or keepsakes, in your home can make it feel more lived-in, cozy and welcoming. However, it is essential to display these items thoughtfully. Instead of hanging pictures randomly on the walls, consider grouping them together or organizing them in a way that creates a sense of balance and order. In addition to thoughtful grouping and organizing, it's important to keep personal items dusted and well-maintained. This ensures that they continue to enhance the overall aesthetic of your home instead of becoming a distraction or an eyesore.

Consider designating shelves, tables, or walls as decoration spaces and limit how many items you place in each area. This not only helps to prevent clutter but also allows you to focus on specific pieces and showcase them in a more visually appealing way. Additionally, rotating decorative items throughout the year can keep your home feeling fresh and avoid overwhelming any one space with too many decorations at once.

Incorporate Pops of Color
Adding pops of color can bring life and energy into a home, making it feel more vibrant and cheerful. However, this doesn't mean going overboard with bold or bright colors. Instead, think about using muted shades as accents to complement the rest of your décor. Whether it's through a throw pillow or statement piece of artwork, adding a pop of color can transform a space.

When choosing which colors to incorporate into your home, consider sticking to a color scheme or palette. This will help create a cohesive look and avoid any clashing or overwhelming combinations. Gravitate towards warm and calming colors, such as shades of blue, green and neutral tones like beige and gray. These colors tend to create a sense of tranquility and comfort in a space. Don't be afraid to mix and match different hues to find the perfect balance for your home.

Invest in Quality Bedding
Creating a comfortable and relaxing bedroom is essential when trying to make an overall comfortable home. Investing in high-quality bedding, such as soft cotton sheets, plush pillows,and a cozy duvet, can set the tone for a good night's sleep. Additionally, having a tidy and well-made bed makes a room feel more polished, regardless of the décor.

When selecting bedding materials, it's important to avoid synthetic fabrics and materials. These can trap heat and moisture, making for an uncomfortable sleeping experience. It's also beneficial to choose bedding with a higher thread count, as this indicates a softer and more luxurious feel. Avoiding materials like polyester and opting for natural fabrics like cotton, bamboo, or linen can contribute to a more comfortable and peaceful sleep.

Keep Your Exterior Polished
While we often focus on creating a comfortable and inviting interior, don't forget about the exterior of your home. This includes the front porch, entryway and any outdoor seating areas. By keeping these areas clean, well-maintained and welcoming, you can make a great first impression for yourself and any guests.

Consider adding potted plants or flowers to bring some greenery and life to your entryway. Keep pathways clear of clutter and debris, ensuring a safe and easy walking experience for visitors. You can also add some outdoor lighting to create an inviting atmosphere during evening gatherings or just for added curb appeal.

In addition to these subtle touches, keeping your exterior well-maintained by using Superior Products, as well as regular cleaning, painting and repairs can make a significant difference in the overall appearance and feel of your home. It's important to remember that the exterior of your home is just as much a reflection of your style and personality as the interior, so take pride in it and keep it polished.

Creating a home that feels comfortable and polished doesn't have to be hard or overly expensive. By incorporating just a few of these subtleties, you can create a space that is both inviting and sophisticated. Creating a home that’s welcoming and comforting requires more than just the large-scale elements of a home renovation, it requires a thoughtful focus on those little details that can make all the difference in creating a space that makes you feel at peace. With the help of these touches, your home can be transformed into the sanctuary you’ve always desired.

Blog

As you think about the year ahead, one of your big goals may be moving.

Read more at KeepingCurrentMatters.com

Related Links

If there’s snow in the mountains and heart-shaped cutouts in shop windows, it must be February in Bend.

Read more at VisitBend.com

Related Links

As of late, the housing market seems to be in standby mode, ready to rev up if mortgage rates fall or further stagnate if rates rise.

Real estate listings have returned

The mortgage rate outlook

Why home prices still seem stuck

Read more at Realtor.com

Related Links

Have you ever heard the term “Silver Tsunami” and wondered what it’s all about?

Read more at KeepingCurrentMatters.com

Related Links

When it comes to creating a comfortable and polished home, it's the little things that count.

Read more at Rismedia.com

Related Links

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