For Buyers • ROBcasts • June 20, 2024

“Real Estate ROBcast” Credit – Part 2

by Nancy Nino

Welcome to our 4th “Real Estate ROBcast” with Rob Nino (Lender) and Nancy Nino (Realtor), where we are discussing the topic of credit and ways to build it up to improve your prospects of a good interest rate and your overall home financing experience. (If you missed our “Credit Basics #1“, go here!)

We will also delve into some side hustles you can do to earn a little cash to help either pay down debt or save up for your down payment.

We will have a special guest appearance from Cousin Leo Quinn for this one…you won’t want to miss it!

And don’t miss our Side Hustles Idea guide (below), our bullet point list of various side hustles that ANYONE can do!

Buying Myths • First Time Home Buyers • For Buyers • June 11, 2024

Savings Strategies Every First-Time Homebuyer Needs To Know

by Nancy Nino

If homeownership is on your goal sheet for your future, you’re probably working on your savings. And a big priority is making sure you’ve got a plan in place for things like your closing costs, down payment, and more.

Here are a few strategies that can help speed up that process.

Budget and Track Your Expenses: To start, create a detailed budget that tracks the money you’ve got coming in and the money going out. This’ll give you a better look at your finances as a whole.

Cut Down on Unnecessary Spending: Now that you have your budget sheet done and you know how you’re spending your money, look for any line items that aren’t absolutely essential. If you cut down on those, you can re-allocate that cash toward buying a home. Even the little things can add up. As the National Association of Realtors (NAR) says:

“The majority of first-time buyers did make financial sacrifices to purchase a home. For those who did, the most common sacrifices buyers reported were cutting spending on luxury goods, entertainment, and clothes.”

Automate Your Savings: Once you know how much you want to set aside for your homebuying budget, look for ways to make it easy. If you have to transfer money manually, you may forget to do it. But getting some automatic transfers set up helps drive consistency and removes the temptation to spend it elsewhere. Realtor.com explains:

“If you’re struggling to put enough money away because of the constant temptations to blow your paycheck, consider automating the process. Ask your employer if you can have your paycheck deposited into multiple accounts—if so, instruct it to send a certain percentage of your salary directly into your savings account. Or go through your bank . . .”

Lean into Any Side Hustles You Have: Do you have a gig you do (or have done before) to net some extra cash? Taking on part-time work, freelance jobs, or picking up a side hustle can help give your savings a boost.

Put any Unexpected Cash To Good Use: If you get any sudden windfalls, like a tax refund, bonus, inheritance, or cash gift from family, put it toward your house fund.

By using these strategies and focusing on your savings over time, you can make sure you’re well on the path to having what you need to buy your first home. As Ramsey Solutions says:

“Budgeting shows your money who’s in charge (that’s you). It gives you the power to tell your money where to go instead of having to wonder where it went. It’s how you make any money goals happen—like saving for a down payment.”

Bottom Line

If you need more strategies for getting ready to buy, let’s connect.

For Buyers • ROBcasts • May 30, 2024

“Real Estate ROBcast” Credit – Part 1

by Nancy Nino

Welcome to our 3rd”Real Estate ROBcast” with Rob Nino (Lender) and Nancy Nino (Realtor), where we are discussing to topic of credit. In this ROBcast, we explore some credit basics as well things that could hurt your credit when trying to buy a home.

For Sellers • Selling Tips • May 27, 2024

194% ROI?! Unveiling the Home Remodeling Projects That Actually Pay You Back

by Nancy Nino

Thinking about sprucing up your home? Whether you’re planning to sell soon or just want to enhance your living space, remodeling can be a great investment. But not all projects offer the same return—especially since home repair costs have risen 40% since 2019.

I know remodeling costs today can be disheartening, but the experts at Zonda, a housing market research firm, just released their 2024 Cost vs. Value Report, and it’s packed with insights to help you maximize your return on investment (ROI).

Curb Appeal is King

When it comes to boosting your home’s value, exterior improvements are where it’s at. According to Zonda, eight out of the top ten projects with the highest ROI are exterior upgrades.

Why? Because first impressions matter. A home with great curb appeal can stand out in the market, attracting more buyers and potentially selling for a higher price.

According to Clay DeKorne, Zonda’s chief editor, exterior replacement projects continue to make the most sense when it comes to adding resale value. In today’s market, characterized by higher mortgage interest rates and homeowners with significant equity, these projects stand out for their high ROI.

Cost vs. Value: National Average for Home Remodeling Projects

Below are all of the home remodeling projects that Zonda analyzed for its report, ranked by highest return on investment.

Top 3 Projects with the Highest ROI

This year’s report shows that the hottest projects for maximizing your ROI are actually the “unsexy” ones – the things that maybe don’t grab headlines but definitely grab buyers’ attention.

Just take a look at the top three on the list, each of which has an ROI well over 100%.

Garage Door Replacement: 194% ROI. This project tops the list, almost doubling its return from last year. A new garage door can dramatically improve your home’s exterior look, making it more attractive to buyers.

Steel Entry Door Replacement: 188% ROI. Replacing your front door with a steel one doesn’t just boost security; it also enhances the overall appearance of your home. It’s a simple upgrade with a significant payoff.

Manufactured Stone Veneer: 153% ROI. Adding stone veneer to your home’s exterior can give it a luxurious and durable look. This upgrade is not only stylish but also highly valued by homebuyers.

For those looking for small projects with a big impact, doors are a great place to start.

“A new garage door or new entry door can make a pronounced difference,” says Todd Tomalak, principal of Zonda Advisory. “It could be the thing that makes one house stand out against all the others, making the home worth a higher price.”

Of course, there are other not-so-glamorous upgrades that can add value. Things like a new roof, windows replacement, and HVAC conversion also made Zonda’s list.

Key Takeaway

While a luxurious kitchen remodel might be your dream, the data suggests it won’t necessarily pay off as much when it comes to resale value. That doesn’t mean you can’t enjoy a new kitchen! But if you’re focused on maximizing your return on investment, target those exterior improvements and strategic interior updates first.

First Time Home Buyers • For Buyers • ROBcasts • May 23, 2024

“Real Estate ROBcast” First Time Home Buyers – Part 2

by Nancy Nino

We’re back with the 2nd half of our inaugural “Real Estate ROBcast”, finishing up our conversation on First Time Home Buyers. If you missed the first part of this conversation, go here!

First Time Home Buyers • For Buyers • ROBcasts • May 23, 2024

“Real Estate ROBcast” First Time Home Buyers – Part 1

by Nancy Nino

Meet my nephew, Rob Nino, a lender wit Premier Mortgage Resources. Here is our inaugural “ROBcast” in our new video series on lending and real estate.

First Time Home Buyers • For Buyers • Rent vs Buy • May 2, 2024

GUIDE – First Time Home Buyers – Spring 2024

by Nancy Nino

Click the image below to access and download the PDF guide.
If you have any issues accessing this file, please reach out to me directly via email and I’ll get it over to you straight away.

For Sellers • Selling Myths • Selling Tips • May 1, 2024

GUIDE – Things to Consider When Selling a Home – Spring 2024

by Nancy Nino

Click the image below to access and download the PDF guide.
If you have any issues accessing this file, please reach out to me directly via email and I’ll get it over to you straight away.

Buying Myths • For Buyers • May 1, 2024

GUIDE – Things to Consider When Buying a Home – Spring 2024

by Nancy Nino

Click the image below to access and download the PDF guide.
If you have any issues accessing this file, please reach out to me directly via email and I’ll get it over to you straight away.

Rent vs Buy • May 1, 2024

The Perks of Buying over Renting

by Nancy Nino

Thinking about buying a home? While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own place.

1. Home Values Typically Go Up Over Time

There’s been some confusion over the past year or so about which way home prices are headed. Make no mistake, nationally they’re still going up. In fact, over the long-term, home prices almost always go up (see graph below):

Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices have climbed steadily for the past 60 years. There was an exception during the 2008 housing crash when prices didn’t follow the normal pattern, but generally, home values kept rising.

This is a big reason why buying a home can be better than renting. As prices go up and you pay down your mortgage, you build equity. Over time, this growing equity can really increase your net worth. The Urban Institute says:

“Homeownership is critical for wealth building and financial stability.”

2. Rent Keeps Rising in the Long Run

Here’s another reason you may want to think about buying a home instead of renting – rent just keeps going up over the years. Sure, it might be cheaper to rent right now in some areas, but every time you renew your lease or sign a new one, you’re likely to feel the squeeze of your rent getting higher. According to data from iProperty Management, rent has been going up pretty consistently for the last 60 years, too (see graph below):

So how do you escape the cycle of rising rents? Buying a home with a fixed-rate mortgage helps you stabilize your housing costs and say goodbye to those annoying rent increases. That kind of stability is a big deal.

Your housing payments are like an investment, and you’ve got a decision to make. Do you want to invest in yourself or keep paying your landlord?

When you own your home, you’re investing in your own future. And even when renting is cheaper, that money you pay every month is gone for good.

As Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the National Association of Realtors (NAR), says:

“If a homebuyer is financially stable, able to manage monthly mortgage costs and can handle the associated household maintenance expenses, then it makes sense to purchase a home.”

Bottom Line

If you’re tired of your rent going up and want to explore the many benefits of homeownership, let’s talk to explore your options.