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The Feeling You Get from Owning Your Home

by Amy McLeod Group


We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful and compelling ones.

No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, that feeling of safety and security you gain from owning your own home is simultaneously one of the greatest and most difficult to describe.

Frederick Peters, a contributor for Forbesrecently wrote about that feeling, and the pride that comes from owning your own home.

“As homeowners discover, living in an owned home feels different from living in a rented home. It’s not just that an owner can personalize the space; it touches a chord even more fundamental than that.

Homeownership enhances the longing for self-determination at the heart of the American Dream. First-time homeowners, young or old, radiate not only pride but also a sense of arrival, a sense of being where they belong. It cannot be duplicated by owning a 99-year lease.”

Bottom Line

Owning a home brings a sense of accomplishment and confidence that cannot be achieved through renting. If you are debating renewing your lease, let’s get together before you do to answer any questions you may have about what your next steps should be, and what is required in today’s market!

Starting the search for your new home? Let the professionals with The McLeod Group Network help you find your dream home! 971.208.5093 or admin@mgnrealtors.com

By: KCM Crew


If you're a homeowner who takes pride in staying on top of interior design trends, you've no doubt been busy lately. High-end kitchen island? Check. Living wall in the living room? Sure thing! And you've most certainly got a Chip and Joanna Gaines-inspired farmhouse sink or shiplap lurking somewhere, too.

Sorry to break it to you ... but those trends are très passé. The rest of the world has moved on, and they're decking out their homes with way hipper stuff than that.

Relax, your friends at  realtor.com  are here to help! Just feast your eyes on four of the hottest, hippest home trends we've seen lately.

Kitchen islands with beds

Kitchen island with bed

iStock; realtor.com

Kitchen islands have been getting bigger and more souped up than ever. This so-called "hub of the home" can now incorporate sinks, ovens, breakfast bars, charging stations, and far more. But let's be honest here: All that kitchen multitasking can leave home chefs feeling pooped. And alas, if there's one thing kitchen islands lack, it's a place to lay your head, much less your whole body.

But that's about to change with the kitchen island's newest accoutrement: a sleeping bunk!

That's right, thanks to a stowaway mattress incorporated just underneath the counter, now you can take a power nap as you wait for your pasta water to boil. You can lounge longitudinally while you slice and dice onions. Guests who hover around your island can now really kick back with that glass of merlot, or just crash for the night if they've had one too many.

This may explain why this home feature has popped up in the kitchens of party-hard celebs including David Hasselhoff, who says, "In the past, I had to choose between staving off hangovers with sleep or a bacon cheeseburger. But now, I can do both at once!"

Indoor yards

Fun for the whole family!

iStock; realtor.com

For years, we've all been bringing the indoors outside, with outdoor kitchens and fully decked al fresco living spaces. So get ready to flip the script. Are you wishing you could enjoy the great outdoors from the comfort of your couch? Well, now you can, by rigging up your home with an indoor yard. In-floor irrigation systems now enable homeowners to go beyond a few potted plants and have wall-to-wall grass beneath their feet—all without the hassles of inclement weather, nosy neighbors, mosquitoes, or other outdoor annoyances.

Due to the added privacy, indoor yards have really taken off with celebs, including Angelina Jolie ("It's so natural and earthy") and even Barack Obama, whose Portuguese water dogsSunny and Bo, "were confused at first," he admits. "Although these indoor lawns are rigged with drainage systems so canines can relieve themselves inside, I had to 'house train' them again, only in reverse. They eventually caught on, particularly once I installed a few bushes."

Wall-to-wall wallpaper

Wallpaper wall-to-wall

Getty Images

From florals and metallics to textures, the wallpaper trend is truly taking over. But get ready for the next level.

Although many choose to paper an accent wall, this hot new trend sees paper covering not only the traditional four walls, but also the ceiling, floor, furniture ... sometimes even pets and family members!

Celeb fans include Kim Kardashian West—who might like to bare all when it comes to her wardrobe, but wants her walls completely covered at home. Kicking hubby Kanye’s minimalist style to the curb, the reality star supposedly has designers scrambling to order rolls upon rolls to paper the 15,700-square-foot Los Angeles estate she and Kanye bought for $20 million in 2014. Reportedly, their kids, North, Saint, and Chicago, have pajamas and bedspreads that match the wallpaper in their rooms.

"It can be a bit dizzying sometimes, and it's frankly even hard to find them now," Kardashian West admits. "But it's worth it. Now I never have to ask, 'Does this go with that?' ever again."

Farmhouse furniture straight from the barn

Hay, ya!

iStock; realtor.com

The modern farmhouse style has been all the rage since Chip andJoanna Gaines' show "Fixer Upper" hit the airwaves and developed a devoted following. They have their own home line at Magnolia, Target ... yet some think those aren't quite farmhouse enough.

Enter their newest venture: real farmhouse furniture, straight from the barn to you! Think: hay bale coffee tables. Side table butter churns. Manger beds. Of course, Chip and Jo have incorporated these elements into their own home too. Just ask Chip: "We swapped our regular alarm clocks for a rooster. Since there's no snooze button, he really gets us up!"

So if you love living on the very cutting edge of design, you're probably eager to incorporate these into your home. But before you do that, maybe check the date on this article first.

Contact The McLeod Group Network for all your Real Estate needs! 971.208.5093 or admin@mgnrealtors.com 

By: Realtor.com, Liz Alterman

6 Changes to Make After a Move to Start Off on the Right Foot

by Amy McLeod Group

You're moving! And along with a new address, you get to enjoy a fresh start at life. OK, maybe you can't easily erase everything from your past—nor would you want to—but it is a good opportunity to break old habits that weren't helping, or were costing you money without much payback, or were causing more headaches than they solved.

For instance: If you usually have a landline phone, consider cutting the cord and going cellular. Or since you're changing your mailing address, sign up for paperless delivery of your important bills. Here are six other ways to change up your home life and daily routine for the better.

1. This time, actually unpack all those boxes

When people move, they eventually get tired of unpacking after a few weeks (and who can blame them?). And once you've unpacked the essentials, it's easy to take a break from unpacking—never to go back.

"Whether it's four more boxes or 14 more, you don't want them sitting in that same spot until your next move," says Kelly Tenny, content and social media manager for Zippboxx.com, a moving and on-demand storage company. So after you've moved households, make a realistic goal of when you'd like to have everything unpacked—and stick to it!

2. Purge unused subscriptions and other auto-renewal fees

"When you move, it's a good idea to look at all the deductions from your bank account," says agent Katie Messenger of Keller Williams Louisville East.

Services with auto-renewals you simply forgot to cancel—like that streaming channel that you subscribed to for just one show, or a magazine that goes straight to the recycling bin—can add up to a lot being deducted from your bank account.

"When my wife and I moved, we went through our budget line by line," says Mark Aselstine, founder of Uncorked Ventures. "We found subscriptions and subscription boxes—admittedly mostly for the kids—were starting to pile up unused."

Aselstine canceled the subscriptions his family no longer used and kept track of their savings.

3. Cut the cord—or consolidate streaming services

"When my wife and I looked into cable TV plans in the area we were moving to, we were met with plans that totaled $130 per month," says Aselstine. He realized the pared-down local internet service provider cost only $35 a month; that, combined with Netflix for $10 and other cheap add-ons, could meet most of his TV needs for much less.

Already subscribed to streaming services? Make sure you use them all; if not, it's time to pare down, or go back to good ol' public TV! That's what photographer S.J. Brown did when she moved into a house that had an antenna.

"For the price of one month's cable, I had it reconnected and am now enjoying free television," Brown says.

4. Switch to energy-efficient lightbulbs and dimmers

You'll be handling all of your lamps when you move, so why not make the swap to energy-saving LED lightbulbs? These lightbulbs can help the typical home save about $1,000 over 10 years. And while dimmers are best known for their ability to improve a room's ambiance, these devices also reduce energy consumption and cut costs on your power bill, leaving more money in your wallet.

5. Resolve to keep records of all of your home improvements

Even though you just moved, you never know where life is going to take you. A surprise job offer may have you selling your new house sooner than expected.

"Having a record of when you fixed something at a glance is hugely helpful," says Messenger.

If you bought your current digs, those records will also help with capital gains. And from a budgeting perspective, you'll know when the last time major systems such as the furnace, air conditioning, or roof were maintained, so you can budget for future upkeep.

6. Start a new cleaning ritual

"If you've been in a house for years, chances are you learned to live with some deferred maintenance–type things," says Messenger. When she moved, Messenger made it her mission to always keep her house tidy in case someone stopped by for a surprise visit.

"It's challenging with pets, but I feel much more pride in my new home knowing I'm taking care of it," she says.

Another bonus? Messenger found doing a few small things daily meant her free time wasn't spent on massive cleanup days.

Are you searching for your new home? Let's the experts on The McLeod Group Network help you find it! 971.208.5093 or mcleodgroupoffice@gmail.com.

By: Margaret Heidenry, Realtor.com

The famous quote by Walt Whitman, “A man is not a whole and complete man, unless he owns a house and the ground it stands on,” can be used to describe homeownership in America today. The Census revealed that the percentage of homeowners in America has been steadily climbing back up since hitting a 50-year low in 2016. The homeownership rate in the first quarter of 2018 was 64.2%, higher than last year’s 63.6%.

Chief Economist, Dr. Ralph McLaughlin, in his VUE Blog gave these new homeownership numbers some context:

“The trend is clear: the homeownership rate has been ticking up for five consecutive quarters, and the number of new renter households has fallen for four consecutive quarters. Owner-occupied households grew by 1.345 million from a year ago, while the number of renters actually fell by 286,000 households.

The fact that we now have four consecutive quarters where owner households increased while renter households fell is a strong sign households are making a switch from renting to buying. This is a trend that multifamily builders, investors, and landlords should take note of.”

In a separate article comparing the rental population in America to the homeowner population, Realtor.com also concluded that the gap is now shrinking:

“The U.S. added 1.3 million owner households over the last year and lost 286,000 renter households, the fourth consecutive quarter in which the number of renter households declined from the same quarter a year earlier. That could pose challenges for apartment landlords, who are bracing this year for one of the largest infusions of new rental supply in three decades.”

America’s belief in homeownership was also evidenced in a survey conducted by Pew Research. They asked consumers “How important is homeownership to achieving the American Dream?”

The results:

  • 43% said homeownership was essential to the American Dream
  • 48% said homeownership was important to the American Dream
  • Only 9% said it was not important

Bottom Line

Homeownership has been, is, and always will be a crucial part of the American Dream.

Contact The McLeod Group Network today to find your dream home! 971.208.5093 or mcleodgroupoffice@gmail.com.

By: KCM Crew

NOT Owning Your Home Can Cost You a Lot of Money!

by Amy McLeod Group

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Realtor.com recently reported that:

Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option… as people get more savings in their pockets, buying becomes the better option.”

What proof exists that owning is financially better than renting?

1. In a previous blog we highlighted the top 5 financial benefits of homeownership:

  • Homeownership is a form of forced savings.
  • Homeownership provides tax savings.
  • Homeownership allows you to lock in your monthly housing cost.
  • Buying a home is cheaper than renting.
  • No other investment lets you live inside of it.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. Just a few months ago, we explained that a family that purchased an average-priced home at the beginning of 2018 could build more than $44,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!!

Bottom Line

Owning a home has always been, and will always be, better from a financial standpoint than renting.

Let’s make your dreams of homeownership a reality! 971.208.5093 or mcleodgroupoffice@gmail.com.

By: KCM Crew

Whether You Rent or Buy, Either Way You’re Paying a Mortgage!

by Amy McLeod Group

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage as opposed to paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.22% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.

Contact The McLeod Group Network today to discuss your options!  971.208.5093 or mcleodgroupoffice@gmail.com.

By: KCM Crew

The Benefits of Homeownership Go Beyond the Financial

by Amy McLeod Group

Homeownership is a major part of the American Dream. As evidence of that, 91% of Americans believe that owning a home is either essential (43%) or important (48%) to achieving that “dream.” In a market where some people may be unsure about the benefits and possibilities of buying a home, it is important that we remember this.

Homeownership is NOT just about the money. In fact, some of the major benefits are non-financial. Here are a few of those benefits as per the National Association of Realtors:

  • Consistent findings show that homeownership does make a significant positive impact on educational achievement.
  • Several researchers have found that homeowners tend to be more involved in their communities than renters.
  • Early studies of homeownership and health outcomes found that homeowners and children of homeowners are generally happier and healthier than non-owners, even after controlling for factors such as income and education levels that are also associated with positive health outcomes and positively correlated with homeownership.

Bottom Line

Homeownership means something more to people and their families than just the financial considerations.

Let The McLeod Group Network help you achieve your dream of homeownership. 971.208.5093 or mcleodgroupoffice@gmail.com.

By: KCM Crew

The Cost of NOT Owning Your Home

by Amy McLeod Group

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Zillow recently reported that:

“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset. Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”

 

What proof exists that owning is financially better than renting?

1. We recently highlighted the top 5 financial benefits of homeownership:

  • Homeownership is a form of forced savings.
  • Homeownership provides tax savings.
  • Homeownership allows you to lock in your monthly housing cost.
  • Buying a home is cheaper than renting.
  • No other investment lets you live inside of it.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. Just a few months ago, we explained that a family that purchased an average-priced home at the beginning of 2017 could build more than $48,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!!
 

Bottom Line
Owning a home has always been, and will always be, better from a financial standpoint than renting.

Meet with McLeod Group Network to discuss your options! 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

The Truth About Homeowner Equity

by Amy McLeod Group
The Truth About Homeowner Equity | MyKCM

A recent article from a reputable news source was titled: Here's why some homeowners still can't sell. In the opening bullets of the article, the author claimed, “Negative equity is one of the main reasons why there are so few homes for sale.” The article then goes on to soften that stance but we want to bring better clarity to the equity situation.

A recent report from CoreLogic (which was quoted in the article) revealed that over 80% of all homes now have “significant equity,” which means the home has over 20% equity. That level of equity allows the homeowner to sell their home if they so desire. (There was no reference to significant equity in the article.)

If eight out of ten homeowners now have significant equity in their homes, it is hard to make the claim that lack of equity is “one of the main reasons why there are so few homes for sale.”

Here is a map showing the percentage of homes in each state which currently have significant equity:

The Truth About Homeowner Equity | MyKCM

Bottom Line

If you are one of many homeowners who is debating selling your home and are wondering how much equity you have accumulated, let’s get together to determine if now is the time to list.

McLeod Group Network, 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Homeowner’s Net Worth Is Still Greater Than a Renter’s

by Amy McLeod Group
Homeowner’s Net Worth Is Still Greater Than a Renter’s | MyKCM

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). 

The latest survey data, covering 2014-2016 will be released later this year. In the meantime, Lawrence Yun, the National Association of Realtors’ Chief Economist estimates that the gap has widened even further, to 45 times greater ($225,000 vs. $5,000)! 

Put Your Housing Cost to Work for You

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 84% of consumers believe that purchasing a home is a good financial decision. William E. Brown comments:

“Despite the growing concern over affordable housing, this survey makes it clear that a strong majority still believe in homeownership and aspire to own a home of their own. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top reasons to own a home. 

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together and evaluate your ability to buy today! 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Displaying blog entries 1-10 of 13

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The McLeod Group Network
Keller Williams Capital City
1900 Hines St SE #220
Salem OR 97302
971-208-5093
Fax: 971-599-5229

**Disclaimer: Amy McLeod, and her team, do not initiate, process, or service mortgages.  And provide this information only as a service.  You should confirm information here with your Licensed Mortgage Lender.