Signs the exterior needs an upgrade

Curb appeal is often discussed in regard to the effects it can have when selling a home. But curb appeal, its allure from the street, is equally important for homeowners who aren’t putting their homes on the market. A well-maintained, aesthetically appealing home is a source of pride, while a home with fading curb appeal can make homeowners feel a little sheepish. Homeowners who want their homes to maintain their curb appeal can look for signs that it’s time to update their home exteriors.

♦ Curling shingles: The roof may not be the first thing people think of when pondering curb appeal, but a damaged roof can contribute to problems that ultimately affect the exterior and interior of the home. Multiple curling shingles indicate it’s time to replace the roof. The sight of curling shingles is not pretty, but the larger issue in such instances is the potential for costly water damage when water gets in through the affected shingles.

♦ Dated entry door: Many home improvement experts insist they can determine when a home was built or most recently renovated simply by looking at the front door. Steel and glass doors are popular in modern homes, so homeowners with front doors with ornate designs and oval glass inserts can likely benefit from an upgrade to their entryway. A modern front door can make a statement and real estate experts note how popular updated front doors are among buyers.

♦ Unsightly landscaping: It’s not only the physical components of the home that may suggest an update is necessary. Homeowners without a green thumb may have exterior landscaping that has seen better days. If a spring or summer day spent tending to your landscaping is not your ideal weekend pastime, then consider replacing unsightly landscaping with low-maintenance plants or hardscaping. These alternatives to more needy plants can create curb appeal without requiring any extra work for homeowners.

♦ Cracked driveways/walkways: If the driveway looks like a busy road at the end of snow plowing season, chances are that’s harming the impression people have of your home. In addition, cracked walkways indicate a need for renovations, as these areas are front and center when welcoming guests.

Homebridge can help maximize your buying power with a down payment assistance program designed to cover the cost of the down payment with two second mortgage options: a 5-year forgivable loan, or a 10-year repayable mortgage option. This combined loan financing strategy could help reduce the upfront expense to purchase, making your next move more affordable. In addition, this down payment assistance option can be combined with other financing strategies, including a temporary interest rate buydown. Additional benefits of the program include:

No income limits for borrowers

First loan amount can be as high as $726,200

Flexible credit requirements - you don’t need a perfect credit score to qualify

You do not need to be a first-time homebuyer to take advantage of this financing option

Second loan options provide either 3.5% or 5% of down payment assistance. This is calculated based on either the purchase price or appraised value, depending on which is less loanladies@homebridge.com

Phone: (925) 706-6702

Branch NMLS #1563663

2200 Sand Creek Road Suite 1

Brentwood, CA 94513 www.homebridge.com/brentwood influenced by various factors, such as economic conditions, interest rate, housing supply and demand, location, population growth, social and government policies,” said Prinzivalli.

Simone St. Clare, a real estate agent in Martinez, says that the housing market started off well at the start of 2022. Home prices skyrocketed 20.6 percent in March compared to the year before, which was the highest price change in more than 35 years. Those selling their homes were receiving offers anywhere from $50,000 to $250,000 over asking price, while homebuyers flocked in droves to the few properties on the market, even waiving appraisal and inspection contingencies in order to get their offers accepted.

“And then, all of a sudden, the air went out of the balloon,” said St. Clare. “Home prices have cooled off and are dropping, especially in areas that were super-hot. Homes are languishing on the market for much longer timeframes.”

Redfin Real Estate data shows that while homes in Contra Costa County sold after an average of 12 days on the market in 2022, homes in 2023 sell after an average of 45 days. Rising rents have also led to people buying homes to stabilize their payments, with price reductions of 8 to 10 percent in nearly every city in the county. What can be expected in 2023, according to St. Clare, depends on whether one is buying or selling a home because there are new guidelines for each.

“For buyers, it’s imperative to get pre-approved with a mortgage lender who can offer options,” said St. Clare. “There are new programs designed to make it easier to afford the higher rates.

There is still help for first-time buyers in the form of down payment assistance and some lower rates.”

“For sellers, pricing your property correctly is super important,” she added. “With more homes on the market and fewer buyers making offers, your house needs to stand out more than ever. If it’s not model-perfect, then the price needs to reflect that. Otherwise, it will be ignored in this market. Sellers who think that they can offer a house for sale without doing any fix-up work to items that need paint, repair or replacement are fooling themselves.”

Still, looking further ahead into 2023, most economic forecasters predict that prices of homes will still slightly rise, likely beecause housing in many areas of the United States is in short supply. According to Norada Real Estate Investments, the housing inventory in the Bay Area is said to be low, but increasing.

“The bright spots in the market will be multi-family units,” said St. Clare. “There are two pricing categories of multi-family properties when it comes to getting a loan:1-4 units and 5-plus units. Both categories of multi-units will continue to be attractive to investors and/ or owner-occupants.”

Prinzivalli said while many real estate agents suggest the spring and summer months as ideal times to buy a home due to the availability of more inventory, she and other agents suggested that the perfect time of year to buy a house is simply whenever anyone is ready.

“It’s always a good idea to work with a reputable Realtor who can help you navigate the buying process and find the best opportunities,” said Prinzivalli.

More information can be found at https://bit.ly/3LyDMDQ