Benefits and Roadblocks When Decluttering

 

Introduction

This is the first article of four on decluttering a home.  There are many reasons to declutter, but we will be focusing on decluttering with the intent of selling your home. In this article we will concentrate on the benefits and difficulties of decluttering. The second article will concentrate on how to declutter, and finally in the third and fourth articles we'll discuss using a decluttered home to showcase your home for sale.

Unless you already live a minimalist lifestyle, you will probably need to declutter before selling your home. It can be a time consuming, exhausting, and an emotional experience. While this can be true for all of us, it is especially true of seniors. Because there is often so much, not only will decluttering be physically demanding but also emotionally challenging. Even more so if one or both of them are in poor health or one has passed away. The trauma of dealing with their partner’s possessions may invoke even deeper emotional responses, and perhaps even irrational guilt.

Benefits of Decluttering

There are many  benefits to decluttering. First, if we're moving, we are often going to downsize to a smaller home. We don't want to transport and re-create this problem in the new home, which would probably be even worse. In addition, we certainly don't want to pay anyone to move stuff we're not going to use. Finally, if we're going to live in the home while it is on the market,  we will want to showcase it to the greatest extent possible. Minimizing our possessions can help us with that.

Here are some quick bullets of additional benefits of decluttering:

ü  More visually appealing-  Removing excess possessions  creates a more spacious environment for potential buyers.

ü  Home seller safety- As difficult as it may be to think about, life can happen in a flash. Before they are needed, we may want to be sure there is plenty of space to move around with a walker, wheelchair or with diminished balance.

ü  Increased Property Value-

o   Depersonalization- Potential buyers want to envision themselves living in the space.

o   Minimalist Living- This has been embraced by the younger generation in recent years due to its focus on simplicity, functionality, and stress reduction.

o    Home Organization- A well-organized home not only looks visually appealing but also gives potential buyers confidence in the maintenance and care taken by the homeowners.

ü  Enhanced Visual Appeal-  This creates an inviting and attractive environment that can significantly impact its market value.

ü  Easier Staging Process- Decluttering allows sellers to effortlessly showcase the property’s best features and create a positive first impression for potential buyers.

ü  Creates a Sense of Space- Decluttering enhances the sense  of spaciousness within each room, enabling them to envision how they could effectively utilize the space according to their needs.

ü  Reduces Stress for Sellers- Sellers need to keep their home “show” ready while it is on the market. The less there is, the less there is to keep organized.

ü  Reduces Stress for Potential Buyers- By removing personal items such as family photos and sentimental trinkets, the home becomes a blank canvas that can be easily imagined as their own.

ü  Faster Selling Process- By removing personal touches and creating a neutral atmosphere, homeowners increase their chances of attracting more potential buyers and ultimately selling their homes quickly.

ü  Save Money on Moving Costs- The less you move, the less it costs.

It’s worth emphasizing again. Creating spaciousness and depersonalization are key when preparing a home for sale.  Buyers who can more readily visualize their own possessions in each space are more likely to make an offer.

The Difficulties Encountered with Decluttering.

Decluttering can actually be very difficult before it becomes easy. In many communications to clients, I have recommended decluttering ruthlessly.

Of course, decluttering can be a challenging task, and many people encounter various obstacles along the way. Let’s explore some common difficulties and then in the next post, how to overcome them:

1.    Inertia- Just getting started is often the greatest challenge.

2.    Keeping items “just in case”- This is my Achilles heel. We often hold onto things we don’t use or love, fearing we might need them in the future. However, most of the time, these items remain unused.

3.     Keeping items to use “someday”- Like number two above, we often hold onto things with good intentions of using them someday.

4.     Too much clutter- The overwhelming presence of numerous items can make decluttering difficult. Where do we start?

5.     Emotional attachment to possessions- Sentimental value often makes it hard to part with items.

6.     Fear of judgment from others- Sometimes we worry about what others will think if we declutter or get rid of certain items.

7.     Lack of time- Busy schedules can hinder decluttering efforts. Combining this with too much clutter can make it seem overwhelming.

8.     Scarcity mindset- Holding onto items due to a scarcity mindset (fearing you won’t have enough) can hinder decluttering.

9.     Financial guilt- Feeling guilty about decluttering items you spent money on is common.

In Conclusion

Remember, decluttering is a process, and it’s okay to take it step by step. In my next post, we will get into some details on how to overcome these hinderances and be victorious. Celebrate each small victory, and gradually create a home that reflects your values and brings you peace.

We are here to help. We are happy to visit with you to provide an unbiased view of the situation and share thoughts on how best to get started. We know of various resources available to help with the heavy work. Perhaps we can help in other ways too. Start early. Call or text me at 301-873-2106 or email me at BReynolds@lNF.com for a complementary, non-judgmental, no obligation appointment.

 

Radon: Protecting Your Home and Health

January is national Radon awareness month. Let's give it a little attention right now. Here are some things you might want to know in our area.

Understanding Radon

Radon is a silent threat that can infiltrate your home without warning. It is a colorless, odorless, and tasteless radioactive gas that naturally occurs in soil and rock. When radon seeps into buildings, including homes, schools, and workplaces, it poses serious health risks. In fact, radon exposure is the leading cause of lung cancer deaths among nonsmokers in America. Approximately 21,000 Americans lose their lives each year due to radon-related lung cancer.

What is our Risk in Frederick County?

This map from the EPA denotes Maryland’s three zones of risk. Radon is measured in pick/L (picocuries per liter). The definitions of the zones are as follows:

Zone 1 (red zones) Highest potential - average indoor radon levels may be greater than 4 pCi/L.

Zone 2 (orange zones) Moderate potential - average indoor radon levels may be between 2 and 4 pCi/L .

Zone 3 (yellow zones) Low potential - average indoor radon levels may be less than 2 pCi/L.

As you can see, Frederick and surrounding counties are in a zone with the highest potential of Radon gas infiltrating our homes. In the Real Estate world, if a Radon inspection detects indoor radon levels greater than 4 pCi/L, it is highly recommended the home be remediated. In addition, with a few exceptions, in Montgomery County the home is required to be tested before closing the sale. The seller or the buyer may do the test, but it must be done.

The Montgomery County Government has a Website where you can get more specific information and citizens of Montgomery County can buy a test kit for $3. Otherwise contact a nearby home improvement store or Amazon to purchase a radon test kit. For best results look for tests that are approved by the EPA, 

If you want to have a professional test and/or remediate your home, I recommend  Roberts Radon, LLC. Phone: 301-750-2695 Email: office@robertsradon.com. I find Roberts to be very competent; I trusted them with our home.

Finally, if you own a rental unit in Montgomery County, Radon Bill 26-22 passed and became effective on July 1, 2023. This legislation mandates radon testing and, if necessary, mitigation, in both single- and multi-family rental units.

For more information about Radon, you might try the EPA’s website on Radon or Maryland’s Department of Health.

As always, I am here to help with any questions you might have about buying or selling your home. Feel free to call me at 301-873-2106

Bob

Bob’s 2024 Residential Real Estate Market Prediction

 

Executive Summary

Most observers seem to agree that we will continue to have low inventory and moderately high mortgage rates. As a result, most of the year will be a seller’s market much like last fall, where there are one or two offers with negotiations. However in the second quarter there may be higher activity in the second quarter with multiple offers and sellers more in the driver’s seat.

 

Introduction

As we start a new year we would do well to try and understand what the market will be like over the next twelve months. Like everyone else, my crystal ball is pretty cloudy, but we can take some educated guesses. Most everyone agrees that there is a lot of pent-up demand. There are many interested buyers, but there are two significant obstacles for them, and therefore the market.

It is important to note that Real Estate is hyper local. This prediction is primarily for southern Frederick County and Northern Montgomery County. Down county in Rockville, Bethesda and Chevy Chase may be completely different.

Low Inventory

The first issue is availability of properties to buy. We have been experiencing historically low inventory for the last five plus years and it was particularly low in 2023. Inventory was trending lower before the pandemic, and of course was exacerbated by the pandemic. Here are some of the reasons behind the lack of inventory:

o   Remote work – with the maturation of cell phones, internet tools, cloud computing and storage, people can work from wherever they are thereby reducing the need to relocation for a new job.   

o   Low locked in mortgage rates – many people refinanced their mortgages, often to less than 3% making them reluctant to take on a new mortgage at a higher rate.

o   Ageing in place – It is much easier for the baby boomer generation to age in place than in the past. As of 2021 they owned 44.1% of all real estate in the U.S. keeping many homes out of the market.

o   Lack of new home construction – Since the great recession in 2007/2008, new home construction has not kept up with demand. Exacerbating this problem are materials supply chain issues, labor shortages and increases in the material cost.

o   Governmental policies - The U.S. has failed to keep up with the housing demands of a continually increasing population. These policies may include:

·       Zoning and permits for new home construction.

·       Limiting the types of housing

Unfortunately, low inventory becomes a cyclical issue. When people feel like they cannot find a place to buy or rent, they don’t want to sell their home and be homeless.

Interest Rates

The second issue is interest rates. Interest rates have skyrocketed over the last two years, going from 2.66% at the end of 2021 to a max of 7.79% in late October 2023 and finally back down to 6.6% at the time of this writing on 1/15/2024. These higher rates have made it very difficult for buyers, particularly younger buyers, to qualify for a loan for the home they want. They will wait for the interest rate to come down to be able to afford the right home.

For most observers, the robustness of the market hinges on interest rates. Many see interest rates going down this year, however not as much as we would like. The thought is that the rates will be reduced modestly in the first quarter, and then loosened some as the year goes on. The consensus seems to be the year will close with interest rates just above 6%, and even lower in 2025.

While this is good news, unfortunately, we live in an extremely volatile world today where world events can impact those rates. Globally, there are several wars that can impact our economy. The war around Israel/Iran region is threating to grow substantially. Ukraine is begging for more support against Russia. China is flexing their muscles in a threateningly way too. We also have an increasingly bitter political division within our own country with a presidential election where the results will probably be contested with much turmoil.

On that last point, presidential elections also tend to have a suppressive effect on the Real Estate market. This is because the prospect of a new president tends to create uncertainty about the future economy, and homebuyers become more cautious as a result. People feel more comfortable with one of the largest financial transactions of their lives when they know the result.

What is coming in the next year?

So, what does all this mean for the market over the next year. By traditional measurements, it will be a seller’s market for the first quarter a lot like the last quarter. However, it will probably feel like a normal market where there are one or two offers with negotiations between buyers and sellers. Spring will probably be a stronger seller’s market quite possibly with multiple offers returning. The balance of the year will probably be more like the first quarter unless interest rates fall below 6%. All in all, it is probably a good year to sell if you know where you are moving to. 

If you are considering selling your home, whether in the next six months or the next few years, I would be happy to help you. If you are still on the fence, please use me as a sounding board; You will not get pressure from me to move, just what I hope is a helpful conversation.

Finally, if you found this article helpful and you know of someone who is planning to buy or sell, I would appreciate your referral. Call/text me at 301-873-2106 or email me at BReynolds@LNF.com. We will get you taken care of.

 

Do you need Home Title Lock?

 

Have you seen the commercials for the Home Title Lock company's service or something similar? Do they provoke a sense of fear or concern about your home being taken away from you by a scammer and not even know it? I have to say that every time I see one of those commercials, I get a little queasy. I sure as heck don't want someone to be able to take my home and/or cost me tens of thousands, if not hundreds of thousands of dollars. So, I thought I'd take a deeper look at the whole idea.

First let me state that I'm not a real estate lawyer and I'm not giving legal advice here. That said, I'd like to explore with you whether it is necessary to have someone watch your title 24 hours a day seven days a week. Let me also state that my research is only for the state of Maryland; other states may have different risks.

The Maryland Attorney General (AG) has issued a Consumer alert concerning Home Title Lock. The alert says that Title Lock is neither Insurance nor a “Lock” on your home title. It simply is a monitoring service which may alert you to a change (after it happens) and may support you in restoring the title to you. It also says “Title fraud is very rare, and hardly ever successful”. If someone ever tries to transfer your deed without your permission or knowledge, like these title lock companies suggest could happen, “the transfer is fraudulent and void from the outset.”

The bottom line from the AG’s Consumer Alert is that you do not need the service. Today, all of us should be taking steps to protect ourselves from identity theft, after all, title theft is an extension of Identity theft.  You can do most of the work yourself, something you should be doing anyway. In my judgement, one very important recommendation is to consider freezing your credit reports. This makes it difficult for a fraudster to open new accounts in your name. In addition, you should monitor your identity by paying attention to regular bills such as utility bills. If you don’t get one, investigate why. Carefully check your credit reports from Experian, TransUnion, and Equifax, which you can do for free, once a year from each of them. You can even check your title with Maryland’s land records website.

The AG’s alert does not mention any safeguards the county or state has in place to protect your title. However, reading between the lines in the Steps to Recording a Deed in Frederick County Maryland we can find some clues as to what they may be. Here are a couple that I see:

1. Lien Certificate/Tax Status Report – The property must be free of liens. If you have a mortgage on your home, you have a lien. That must be paid off before the property can be transferred. Of course, there could be others.

2. Water bill must be fully paid off.

3. All property taxes must be up to date.

4. Property tax credits must be recaptured, if any.

5. Agricultural Transfer Tax, if any, must be paid.

6. Recordation Tax must be paid (calculated at a rate of $7.00 per $500 of sale price).

The Maryland Land Instrument Intake Sheet is reviewed by at least 3 groups/agencies looking at the above information to be sure they are completed correctly (they have the receipts). There may be other safeguards involved but they are not highlighted anywhere. 

If you are still uncomfortable and don’t mind spending the money (about $200 annually), by all means sign up for one of the title lock services.  The AG’s Consumer alert says Title Theft is “rare” and you don’t need the service. Practice safe Identity procedures and relax.

I hope this post was useful to you. I have included some links below if you are interested in doing a little more research yourself.

Here are some helpful links.

Maryland Attorney General Consumer Alert – Home Title Lock 

Checking your Home’s title

Steps to Recording a Deed in Frederick County Maryland

Steps to recording a Maryland Deed

Protect yourself from identity theft. 

Requesting credit reports

Experian Credit Reports

US Government 

Nerd Wallet