As Featured in West + Main Home Magazine: Open, Airy, and Whimsical

West + Main Agents April + Rob Schmidt

“The overall architecture of the house truly inspired this project. It was built in 1954 as a personal residence for an architect. Big windows that let the outdoors in, wood tones, and an open, airy and whimsical feel are all key elements in Midcentury Modern design.”

— April

April + Rob had been wanting to remodel the kitchen for several years, but other projects always took precedence. When the time came to redo the kitchen space, they really wanted to honor those design elements that make a mid-mod home special. They widened the front window from 30 inches to just about 6 feet wide, chose a light wood tone cabinet reminiscent of the popular blonde wood of the 1950s, and added a bit of whimsy with the navy blue KitchenAid range.

“The KitchenAid appliances were definitely the biggest investment for the kitchen, over all they were $14,000,” explained April. “That being said, we really did not break the bank with this remodel. That’s the beautiful thing about a small space, you can really up your game with cool finishes because you’re not finishing off a large amount of square footage. However, Rob and I used to remodel and build houses as a career, and Rob is a licensed residential and commercial general contractor, so he was able to do a bulk of the work on his own with my help and supervision. Lol!”

 “We spent about $30,000 total, but it would’ve easily been double that if we would have had to pay for HVAC, electrical, plumbing,” she said. “As well as cabinet, appliance and window installation. Those projects were all done by Rob with my assistance. The only work we hired subcontractors for were the countertops, tile and drywall finish.”

The Schmidts are very happy with how the kitchen turned out...it functions well, it’s fun to cook in, and it has a ton of storage with the large pantry units.

“Our absolute favorite thing is the navy blue range! It definitely exceeded expectations when it was unboxed and installed in the kitchen. I might’ve cried a few happy tears upon first seeing it! It really is the focal point of the space!”

Related Links

• As Featured in West + Main Home Magazine: Kitchen Glow Up!

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Single Women Are Embracing Homeownership

In today’s housing market, more and more single women are becoming homeowners.

According to data from the National Association of Realtors (NAR), 19% of all homebuyers are single women, while only 10% are single men.

If you’re a single woman trying to buy your first home, this should be encouraging. It means other people are making their dreams a reality – so you can too.

Why Homeownership Matters to So Many Women

For many single women, buying a home isn’t just about having a place to live—it’s also a smart way to invest for the future. Homes usually increase in value over time, so they’re a great way to build equity and overall net worth. Ksenia Potapov, Economist at First American, says:

“. . . single women are increasingly pursuing homeownership and reaping its wealth creation benefits.”

The financial security and independence homeownership provides can be life-changing. And when you factor in the personal motivations behind buying a home, that impact becomes even clearer.

The same report from NAR shares the top reasons single women are buying a home right now, and the reality is, they’re not all financial (see chart below):

If any of these reasons resonate with you, maybe it’s time for you to buy too.

Work with a Trusted Real Estate Agent

If you’re a single woman looking to buy a home, it is possible, even in today’s housing market. You’ll just want to be sure you have a great real estate agent by your side.

Talk about what your goals are and why homeownership is so important to you. That way your agent can keep what’s critical for you up front as they guide you through the buying process. They’ll help you find the right home for your needs and advocate for you during negotiations. Together, you can make your dream of homeownership a reality.

Bottom Line

Homeownership is life-changing no matter who you are. Connect with a local real estate agent to talk about your goals in the housing market.

Read more at KeepingCurrentMatters.com

Related Links

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• Exploring Opportunities: How to Get Started in the Real Estate Market

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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The Biggest Red Flag to Watch for If You’re Hiring a Painter

Some home projects are very obviously better left to a professional, such as roofing, electrical work, and plumbing, which all require specialized knowledge and skills.

Painting is one of those home projects that straddles the line. If you have the necessary painting supplies and a little patience, there are plenty of opportunities to DIY your own paint makeover. But there are also other times when you might want someone else to take on the task (think: rooms with high ceilings or an entire exterior that needs a freshening up). In those cases, you might consider hiring a painting contractor to get the job done.

But while you’re perusing the web and reading reviews, wading through the pros and cons of each business may prove difficult. So, how do you know if your chosen company is worthy of getting your business? To set your future painting projects up for success, four experts — two designers and two paint pros — weigh in on what’s considered a red flag when securing a painter. Their resounding top pick? The biggest red flag is when your contractor doesn’t have a license or proof of insurance.

Before you hire a painter, make sure they have a license and proof of insurance.

Just as with any situation, having insurance offers protection for everyone involved. In the case of pro painters, it safeguards you, your home, and the painting company from a variety of issues that may arise. “Without insurance, a homeowner is exposed if the painters get hurt on the job or if something gets damaged on the home,” says Paige NeJame, who owns CertaPro Painters of the South Shore and Boston in Massachusetts. 

Keely Smith, the lead designer at JD Elite Interiors in Vancouver, also warns of liability when working with an unlicensed paint contractor. “An uncertified painter might leave you on the hook for medical bills or repair costs from even a small mishap,” she warns. Additionally, a certified professional receives safety training, so you can have peace of mind that they’re qualified.

Be wary if painting contractors don’t have proof of insurance and certification readily available. “If a painter cannot produce an insurance certificate within a day, that is a sign that he or she does not have insurance,” says NeJame. “Most insurance agents, including ours, can produce a certificate of insurance within an hour.” She also adds that you should request the painter to add you, as the homeowner, as an additional insured person for added protection.

There are other things to look out for beyond licensing and insurance, though. Here are experts’ top watch-outs. 

Red flag: The painter won’t provide a specific outline for the scope of work.

You should always ask for a contract outlining the project’s parameters and approximate cost before signing a contract. Carla Bast owns a Minnesota-based studio, Carla Bast Design, and recommends always asking for a contract that lists specifics. “Request a written estimate that outlines the scope of work, materials used, timeline for completion, and warranty,” says Bast. She advises steering clear of any painters that can’t — or won’t — provide this information.

Red flag: The painter’s cost estimates are really broad.

Sometimes, a project estimate falls within a range instead of pinpointing a specific price, which isn’t a big concern unless the range is broad, as they may be trying to increase their profit margins. “For instance, if they note the brand name of paint they’ll use but don’t share the specific kind of paint, they can use a spectrum of quality with pricing from $14 to $100 per gallon,” reveals Bill Nishanian, who is the owner of Nash Painting in Nashville, Tennessee.

Red flag: The painter doesn’t specify the number of coats of paint they’ll use.

Nishanian also warns against contractors who don’t specify the number of coats of paint or how many colors they’ll use, as varying hues and multiple coats require extra time. “If that’s not clear in the initial contract, and you’ve paid a large deposit, they hold all the cards,” Nishanian says.

Red flag: The painter asks for a large deposit.

Nishanian says that deposits are another cautionary point. “Most of the time, they are making 40 to 60% profit on the job, and if they ask for 50% down, they guarantee that they will not lose money, whether you’re satisfied or not,” he says. On the other hand, companies that ask for a low deposit often prioritize the customer and their happiness. 

Read more at ApartmentTherapy.com

Related Links

• 6 Essential Spring Home Maintenance Tasks To Do ASAP

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Home price growth is back at pre-pandemic levels. Here’s what that means for buyers and sellers

The rate at which home prices grow is slowing down.

U.S. home prices increased 0.6% from a month before in February, in line with the 0.6% average monthly gain in the roughly eight years leading up to the Covid-19 pandemic, according to a new Redfin analysis.

Before the pandemic, it was normal for prices to grow about half a percent every month, or to increase around 5% or 6% annually, said Daryl Fairweather, the chief economist at Redfin.

“We’re back to that trend, despite these higher mortgage rates,” she said.

A similar trend appeared in Moody’s Analytics House Price Index, said Matthew Walsh, assistant director and economist at Moody’s Analytics.

“Home prices are appreciating at the same pace as before,” he said. “It’s returned to the trend that we saw pre-pandemic.”

However, the market today is vastly different from the market two to eight years ago, experts say. The average home is still unaffordable for most potential buyers while inventory has slightly improved but not enough to meet demand.

“The sentiment we’re getting… is that neither sellers nor buyers are satisfied with this market,” Fairweather said. “Sellers are dissatisfied ... with offers that they’re getting. And buyers are disappointed in rising prices and rising mortgage rates.”

Levels of transactions are at ‘recessionary lows’ 

While the housing market has stabilized in terms of price growth, a major difference between the market today and the pre-pandemic period is the relatively low number of transactions, which is largely due to high mortgage rates, said Fairweather. Mortgage rates peaked at nearly 8% last year, but are still over 6%, according to Freddie Mac data.

In fact, the level of transactions are at “recessionary lows” despite “a pop in the data in February,” Walsh said.

Another factor affecting sales is the extremely limited supply of homes, he added.

New listings climbed 5% during the last four weeks ended March 17, the biggest year-over-year jump since May 2023, Redfin found. But “it’s like a small recovery from a rock bottom,” said Fairweather.

“We’re not back to where we were pre-pandemic,” she said.

Supply growth is mostly tied to a seasonal trend, economists say. Owners often list their homes for sale in February because they prefer to move in the spring and summertime, Walsh said.

And sometimes, life happens. “Another factor is just people needing to move for either a new job or they’re getting married, or there’s some other big life event,” Fairweather said.

The rate lock-in effect is loosening its grip

The mortgage rate lock-in effect, also known as the golden handcuff effect, kept homeowners with extremely low mortgage rates from listing their homes last year: They didn’t want to finance a new home at a much higher interest rate. Now, that is loosening its grip on the market and slightly boosting available supply, economists say.

“It was definitely keeping people in place, but the more time that passes, the less strong that effect becomes,” Fairweather said.

Some buyers who had put off listing their homes “are coming to terms with higher mortgage rates,” because they feel they can no longer postpone the move, Walsh explained.

While the rate lock-in effect is still playing a role in today’s low inventory, it will fade further over time, especially as the Federal Reserve decides to cut rates later this year, Fairweather said.

Mortgage rates are also forecast to modestly decline this year as the Fed trims interest rates, while home prices are likely to remain flat or unchanged nationally, Walsh said.

New builds are slightly improving

New-home sales are running at the high end of the range seen pre-pandemic, averaging about 600,000 per month, Walsh said. There were 661,000 new homes sold in January, 1.5% more than in December, according to the U.S. Census Bureau.

Buyers frustrated with the tight supply of existing homes, are giving a lift to the new-home market. “Builders are certainly benefiting from that,” he said.

Homebuilders can also offer buyers incentives that homeowners might not, such as mortgage rate buydowns or price cuts, Walsh added.

However, the boost is not enough to bolster the acute housing supply across the country. “It’s going to take us some time to make up for that gap, even though they’re building more than before,” he said.

Read more at CNBC.com

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Exploring Opportunities: How to Get Started in the Real Estate Market

Are you interested in investing in real estate but not sure where to begin?

The world of real estate can seem daunting at first, but with the right information and strategies, anyone can start building their wealth through property. In this article, we will discuss some key ways that you can get started in the real estate market. Let's get started!

Educate Yourself
The first step to success in any field is knowledge. Before you dive into real estate investing, take the time to educate yourself on the basics. This includes learning about different types of properties, financing options and current trends in the market. You can find a wealth of information online or by attending seminars and workshops hosted by experienced investors.

Define Your Goals
Before you start investing, it's important to have a clear understanding of your goals. Are you looking for long-term rental properties or short-term fix and flip opportunities? Do you want to focus on residential or commercial properties? Defining your goals will help guide your investment decisions and keep you on track towards achieving them.

Be sure to be realistic about your goals when it comes to starting in the real estate market. While everybody dreams of making big profits, it's important to understand that success in real estate takes time and effort. It's also crucial to assess your financial situation and set achievable targets based on your resources. Setting unrealistic goals can lead to disappointment and may cause you to make rash decisions that could harm your investments in the long run.

Start Small
Don't bite off more than you can chew when starting in the real estate market. You definitely don't want to start flipping mansions, getting into any dodgy investments or set to work not knowing the Rules for 1031 exchange. Begin by investing in a smaller property or partnering with other investors to spread out the risk. This will help you gain experience and confidence before taking on larger investments.

Some small ideas to get started in the real estate market include investing in a rental property, such as a single-family home or duplex, and becoming a landlord. This can provide a steady stream of passive income and give you hands-on experience managing a property. You could also consider purchasing a fixer-upper and renovating it for resale, known as "flipping" properties. Other options include investing in real estate investment trusts (REITs) or crowdfunding platforms, which allow you to invest in real estate projects with smaller amounts of capital.

Network
In any industry, networking is key. This is especially true in real estate where relationships and connections can lead to lucrative opportunities. Attend local real estate meetups, join online forums and connect with experienced investors in your area. You never know who you may meet and what valuable advice they can offer.

Consider Financing Options
Real estate investing can require a significant amount of capital, but there are various financing options available to help you get started. These include traditional bank loans, hard money loans, private lending and even crowdfunding platforms. Research and compare these options to find the best fit for your financial situation.

So, when do you know you're in a good spot to start investing in real estate? While the answer may vary for each individual, there are some key indicators to keep in mind. Firstly, it's important to have a stable source of income and manageable debt before taking on any investments. Additionally, having a solid understanding of market trends and property values can help you make informed decisions.

It's also crucial to have a financial cushion in case of any unexpected expenses or fluctuations in the market. Lastly, having a strong support system and network can provide valuable guidance and resources as you navigate the world of real estate investing.

Location is Key
When it comes to real estate, location is everything. Do your research on different neighborhoods and areas to find properties with potential for growth. Look for areas with good schools, amenities and a strong job market as these factors can greatly impact the value of a property.

Be Prepared for Challenges
As with any investment, there will be challenges along the way. Real estate is not a get-rich-quick scheme and it's important to have patience and resilience when facing obstacles. Stay informed on market trends and maintain a strong team of professionals such as real estate agents, lawyers and contractors to help you navigate any challenges that may arise.

When facing challenges, be sure to remain calm and composed. This allows you to think clearly and make rational decisions instead of reacting impulsively. One way to handle challenges calmly is by having a solid plan in place and being prepared for potential obstacles. It's also helpful to have a support system or mentor who can offer guidance and advice during tough times. Remember to stay focused on your goals and have patience, as overcoming challenges is a natural part of the real estate investing journey. 

Take Action
The most important step in getting started in the real estate market is to take action. Don't get bogged down by analysis paralysis or fear of failure. Start small, educate yourself and be proactive in seeking out opportunities. The more you invest and learn, the better your chances of success will be.

The world of real estate investing is full of opportunities for those willing to put in the work and take calculated risks. By educating yourself, defining your goals, networking, considering financing options, researching locations and being prepared for challenges, you can begin your journey towards building wealth through property. So don't wait any longer—start exploring the possibilities in the real estate market today! Happy investing!

Read more at Rismedia.com

Related Links

• 6 Essential Spring Home Maintenance Tasks To Do ASAP

• 4 Tips To Make Your Strongest Offer on a Home

• ‘The Best of Both Worlds’: The Spring Housing Market Might Just Change Everything for Homebuyers and Sellers

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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