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Back-to-school supplies for students of any age: Parents, consult this list

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As the summer winds down, you can practically smell the return to school in the air. 

Back-to-school sales dominate targeted ads and passing billboards, and families are cramming in as much vacation and ice cream time as they can. It’s just about time to stock up on pencils and new sneakers, and to do it best you'll want to look for deals while looking for school supply reviews, too.

Whether you're the parent of a student or a student yourself, here’s your guide to back-to-school shopping supplies and dates to know.

Must-have back-to-school supplies

Back-to-school supplies vary from classroom to classroom, from teacher to teacher. If your child is in elementary or middle school, they may have received an itemized classroom supply list from their new teacher. Specific lists often can be found on school district or teacher websites. Take note of the words "requested" and "required" – some pricey items may be a suggestion or donation to the classroom.

But if you don't have a list and want to get things ready for the big day, here’s a general guide of what you'll need according to tutoring agency Oxford Learning.

Back-to-school supplies for elementary students:

  • 1 pocket folder per subject

  • Agenda (some classrooms issue school-specific agendas)

  • Loose-leaf ruled paper or notebook

  • Loose-leaf blank paper

  • Pencils

  • 2 erasers

  • Ruler

  • Pencil sharpener (metal ones, even small ones, will last longer if kids can hold onto them)

  • Box of crayons

  • Colored pencils

  • Washable markers

  • Bottle of glue

  • 2 glue sticks

  • Safety scissors

  • Backpack

  • Pencil box or bag for supplies

Your child’s teacher may also request classroom supplies like disinfectant wipes, hand sanitizer or tissues. When in doubt, send a quick email to their new teacher ahead of the first day of school.

Back-to-school supplies for middle school students:

  • 1 binder per subject or a couple of large-sized binders

  • Binder dividers

  • 1 pocket folder per subject

  • Sticky notes

  • Agenda (some classrooms issue school-specific agendas)

  • Combination lock for lockers

  • Loose-leaf ruled paper and/or notebook

  • Loose-leaf graph paper or notebook

  • Mini stapler

  • Highlighters

  • Blue or black pens

  • Pencils

  • 2 erasers

  • Ruler

  • Pencil sharpener

  • Reinforcements (for placing loose-leaf paper in binders)

  • Colored pencils

Your teacher may also ask for some specific supplies depending on the type of work you’re doing, like USB drives, calculators or a compass and protractor. Check in with your teacher before school starts if you’re not sure what to buy.

Back-to-school supplies for high school students:

  • 1 binder per subject or a couple of large-sized binders

  • Binder dividers

  • 1 pocket folder per subject

  • Sticky notes

  • Agenda

  • Combination lock for locker

  • Loose-leaf ruled paper or notebooks (one per subject)

  • Loose-leaf graph paper or notebooks

  • Highlighters

  • Blue or black pens

  • Pencils

  • 2 erasers

  • Ruler

  • Pencil sharpener

  • Reinforcements (for placing loose-leaf paper in binders)

How to shop for back-to-school supplies

Take a deep breath – we know this is an overwhelming time for parents. Take it step by step.

1. Consult the list

Run through the required supplies and contact your child’s teacher if you have questions or don’t see something you think will be important. If you have a little extra in your budget, ask your child's new teacher if they need help supplying their classroom. Most teachers dip into their wallets to decorate and equip their rooms, so they'll appreciate the help.

2. Search for deals

School supplies can be expensive. The National Retail Federation estimated American households would spend nearly $900 in the 2023 back-to-school season.

Some places help people get free school supplies and offer deals. Some states offer school supply sales-tax holidays through July and August. You can also check with your school or community, which may keep donated supplies on hand.

Decide if you want to shop in person at major retailers or avoid the lines entirely by shopping online. Check out these discounts from Amazon, Target, Walmart and Staples.

If you’re in the market for a new back-to-school wardrobe or are purchasing big this school year, here’s a list of the best student and teacher discounts.

3. Plan ahead

After you’ve shopped your way down the list, the next best thing to do is be prepared. Game plan go-to healthy school lunches and after-school snacks for the weekly rotation. Make sure to pack your backpack or child’s backpack ahead of time so you’re not scrambling on the first day. We've also got tips for how to clean your kid's backpack, which is probably pretty gross.

When does school start in 2024?

It depends on the region, though most U.S. students will typically return to school between August and early September. In 2023, a Pew Research study took a random sample of over 1,500 public school districts and found that the highest percentage of students returned to school in the second and third week of August – 23% during the week of August 7 and 24% the week of August 14.

However, it varies heavily by region, Pew Research reports. Southern regions often start school later than northern ones, and New England states are more likely to go back the last week of August or after Labor Day, which is September 2 this year.

Read more at USAToday.com

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Buying an Older Home Is a Mixed Bag

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Purchasing residential real estate is a mixed bag under the best of circumstances, and buying an older home comes with its own unique set of challenges.

Older homes ranging from 100 to 50 years of age – as opposed to "newer" homes constructed since the 1980s – were built to last. They feature superior materials and possess craftsmanship and charm not available in new construction.

Historically, older housing stock has survived the flu pandemic from 1918 to 1920, the Great Depression of the 1930s, the GI Bill of Rights of the 1940s, the Great Society of the 1960s, the oil embargo of the 1970s and the condo boom of the 1980s.

Buyers of Older Homes 

Why are older homes available and who is buying them? High mortgage rates and rising home prices negatively affect affordability, exacerbated by the fact that inventory of starter homes and affordable housing doesn't meet demand.

Gen Z buyers, born between 1999 and 2011, account for only 3% of buyers, according to a recent report by the National Association of Realtors (NAR). Millennials, born between 1981 and 1996, now make up the largest group of homebuyers (38%). Put together, these younger buyers often look for affordability in their starter homes.

While some of these buyers may be childless couples with two incomes, they often carry student debt and are forced to confront high interest rates. In their desire to get on the homeownership ladder, they may be willing to forgo modern finishes and up-to-date appliances for affordable move-in properties.

The Upsides of Older Homes 

What are these young homebuyers actually getting for their relatively affordable prices? Mature homes often come with established neighborhoods, amenities such as mature landscaping and tree-shaded streets and sidewalks, and are close to shopping, schools and recreational facilities.

If the house itself has been carefully maintained and systems updated to current standards, all the better for the new owners. But what if the house has been badly updated with questionable wiring and plumbing and faded, worn interiors or not maintained or updated at all?

A savvy real estate agent and a buyer with imagination can see beyond dated decor and cracked, water-stained ceilings to negotiate aggressively in light of necessary renovations and updating. Real estate opportunities often come in disguise.

Unique Features in Older Homes Worth Keeping 

Two of the most overused words to describe older homes that I, as a real estate broker, encounter are "charm" and "character." I prefer to emphasize craftsmanship and materials not found in new construction.

Slate roofs, leaded glass windows, unique wrought iron handrails, front door hardware,and exterior light fixtures are features I point out to buyers before we enter a house. A gracious foyer, vestibule or "transition space" between outside and inside, rarely found in new construction, is very welcoming to a well-proportioned living room, often featuring a fireplace with a custom mantel, wainscoting and, sometimes, built-in bookshelves.

I emphasize to homebuyers that if these details are original, they are indeed unique, as mass-produced stock woodwork did not exist when the house was constructed. Each banister, railing and newel post was unique to each house. Recreating these elements today would be prohibitively expensive, if possible at all, as craftsmanship is a dying art.

Dining rooms may feature beautifully crafted sideboards or cabinets, butler’s pantries and cabinetry unique to that space. Kitchens may be a patchwork of old and new, but dining nooks with windows and built-in banquettes and, if lucky, a separate pantry, are gems long gone from post-midcentury homes.

Other features worth keeping are laundry chutes, telephone nooks, window seats, cedar closets and, most prized of all, solid hardwood floors, often in mint condition if preserved under wall-to-wall carpeting, as is often the case.

Features Absent in Older Homes 

Despite the abundance of vintage hardware, light fixtures and opportunities for gracious living, certain features may or may not be present in homes built before the 1980s. If they are, they may appear as awkward renovations, standing out as late additions. Walk-in closets, like sliders to decks and patios, were not common in homes until after World War II.

“During World War II, a shortage of construction materials led to smaller, more efficient housing designs influenced by the federal government’s plans for war industry-related housing projects,” according to Utah's Historic Architecture Guide. Hence, older properties may not include modern features like sliding glass doors common in newer homes.

Over the next few decades, lifestyle changes produced the family room, dedicated entirely to leisure, followed by the mudroom and the Great Room. Buyers of older homes can forget about home offices and home gyms, unless they allocate some existing space to these contemporary conveniences.

First-floor half-baths, called powder rooms or guest baths, appeared occasionally in larger, custom-built homes, but were not commonplace until the 1960s. Elle Decor researched the evolution of the half bathroom to the “powder room,” revealing that first-floor bathrooms are one of the first renovations that buyers of older homes will add.

Undesirable Features of Older Homes 

While some desirable features may be absent, buyers of vintage homes may be dismayed to find "modernizations" or "upgrades" from more recent homeowners that they may view as undesirable.

Dropped acoustical ceilings with fluorescent lighting were seen as a way to disguise cracked or peeling ceilings and add a "modern" touch, as were vinyl sheet good flooring in kitchens and bathrooms. Wall-to-wall carpeting, a sign of luxury to which almost every 1960s and 1970s homeowner aspired, is often found in older homes, along with decorative wall treatments including gold veined mirror tile, veneer brick, knotty pine paneling or wallpaper of all hues and patterns. New homeowners may want to consider removing parts of these wall coverings to determine if anything of value lies beneath.

Transforming an existing house into a home is a labor of love. When up to one's elbows in shredded wallpaper, stripping paint with chemicals and heat guns, and hauling out moldy or pet-stained wall-to-wall carpeting, padding and tack strips, used to hold carpet in place, it may be hard to recall why the house seemed so appealing.

However, the popularity of mature homes is ultimately reinforced by the charm, the location and the craftsmanship. Like any aging structure, improvements, both aesthetic and structural, that may have seemed like good ideas or even vital to maintaining the integrity and adding to energy efficiency may, in time, evolve to be less-than-ideal choices. Modern technology, which is ever-evolving, may well prove to provide newer materials, systems, and appliances, which, when added to older homes, provide a seamless and sensitive improvement.

An Older Home: A Nesting Place 

Nesting is defined by dictionary.com as "the tendency to arrange one's immediate surroundings, [...] to create a place where one feels secure, comfortable, or in control.” Closely associated with birds who build nests to lay eggs, members of all classes of vertebrates and some invertebrates construct nests. Older homes, previously nests to prior generations, can, through new owners' efforts, become modern and secure homes for future generations.

Read more at USNews.com

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Helpful Negotiation Tactics for Today’s Housing Market

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If you haven’t already heard, homebuyers are regaining some negotiating power in today’s market.

And while that doesn’t make this a buyer’s market, it does mean buyers may be able to ask for a little more. So, sellers need to be ready for that possibility and know what they’re willing to negotiate.

Whether you’re looking to buy or sell a house, here’s a quick rundown of potential negotiations that may pop up during your transaction. That way, you’re prepared no matter which side of the deal you’re on.

What Can You Negotiate?

Most things in a home purchase are on the negotiation table. Here’s a list of just a few of those options, according to Kiplinger and LendingTree:

 
 

  • Sale Price: The most obvious is the price of the home. And that lever is being pulled more often today. Buyers don’t want to overpay when affordability is already so tight. And sellers who aren’t realistic about their asking price may have to consider adjusting their price.

  • Home Repairs: Based on the inspection, a buyer is within their rights to ask the seller to make reasonable repairs. If the seller doesn’t want to do that, they could offer to reduce the home price or cover some closing costs, so the buyer has the money to take them on themselves.

  • Fixtures: Buyers can also ask for appliances or furniture to convey when the house changes hands. Having the seller throw in the washer and dryer cuts down on expenses the buyer would have when moving in. As the seller, you could leave your existing ones behind to sweeten the deal for your buyer, and get yourself new ones for your next place.

  • Closing Costs: Closing costs typically run about 2-5% of the home’s purchase price. Buyers can ask the seller to pay for some or all of these expenses to offset the cash the buyer has to bring to the table. 

  • Home Warranties: Buyers can also ask the seller to pay for a home warranty. This is great for buyers worried about the maintenance costs that may pop up after taking possession of the home. And since this concession usually isn’t terribly expensive for the seller, it can be a good option for both parties.

  • Closing Date: Buyers can ask for a faster or extended closing window based on their own timetable. The seller can also advocate for what they need based on their move to find the right compromise.

One thing is true whether you’re a buyer or a seller, and that’s how much your agent can help you throughout the process. Your agent is your go-to for any back-and-forth. They’ll handle the conversations and advocate for your best interests along the way. As Bankrate says:

“Agents have expert negotiating skills. Without one, you must negotiate the terms of the contract on your own.”

They may also be able to uncover what the buyer or seller is looking for in their discussions with the other agent. And that insight can be really valuable at the negotiation table. 

Bottom Line

Buyers are regaining a bit of negotiation power in today’s market. Buyers, knowing what levers you can pull will help you feel confident and empowered going into your purchase. Sellers, having a heads up of what they may ask for gives you the chance to think through what you’ll be willing to offer.

Want to chat more about what to expect and the options you have? Connect with a local real estate agent.

Read more at KeepingCurrentMatters.com

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Mortgage Rates Plunge to Lowest Level in Over a Year Amid Recession Fears. Is Now a Good Time To Buy a House?

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Mortgage rates have plunged to their lowest level in over a year. But with fears of a recession mounting, is it a good time to buy a house? Not necessarily, one expert says.

“A lot of people want to dive in with 30-year rates declining, but at the end of the day, we still have a housing market that’s overly elevated as a whole,” Todd Stankiewicz, a certified financial planner and president and chief investment officer of Harrison, N.Y.-based Sykon Capital, told MarketWatch.

With home prices still at a record high and the median-priced home near $400,000, buyers should not let the direction of mortgage rates drive their decision to buy a house, he said. “Don’t try to buy it because it’s a good deal. Don’t try to rush into it because rates came down. You’ve got to be patient,” Stankiewicz said.

His word of caution comes at a time when markets are in turmoil.

Global stock markets are sinking as investors view the weak July jobs report as a sign that a widely-recognized indicator called the Sahm rule has been triggered, indicating that the U.S. economy could be entering a recession.

The rule was named after Claudia Sahm, but the economist said she hadn’t seen enough evidence yet that a recession is certain. “We are not in a recession now,” Sahm told CNBC, “but the momentum is in that direction… a recession is not inevitable and there is substantial scope to reduce interest rates.”

30-year rate falls to lowest level since April 2023

Since mortgage rates move based on what the market expects, the possibility of the Federal Reserve cutting rates as the economy slows pushed the 30-year rate down over the past week.

Initially, the 30-year fell due to the Fed putting a September rate cut on the table on Wednesday, and then it fell again after the jobs report on Friday. As of Thursday, the 30-year average rate was at 6.48%, the lowest level since May 2023, according to data from Intercontinental Exchange.

The 30-year fixed-rate mortgage fell further on Monday, to 6.34%, which was the lowest level since April 2023, according to Mortgage News Daily. The site surveys lenders on a daily basis.

“We could see additional interest-rate declines if the [economic] data continue to support the narrative of a weakening economy, but today’s data didn’t offer additional support,” Ralph McLaughlin, a senior economist at Realtor.com, told MarketWatch. The service side of the economy rebounded in July, countering recession talk.

Income required to buy a $400,000 house at current mortgage rates

Yet for many buyers, a drop in rates is a big development, as housing affordability has deteriorated significantly over the past few years. In May, housing affordability fell 7% from a year before, as measured by the Federal Reserve Bank of Atlanta’s Home Ownership Affordability Monitor.

Buying a median-priced $383,000 house in May with an annual salary of $81,000 would eat up 44% of a household’s income, which is considered to be a financial burden, according to the Atlanta Fed.

If a home buyer wanted to comfortably afford a house with a median listing price of about $440,000 as of July, they would need to earn an annual income of $90,000, according to calculations by Realtor.com.

The calculations assume that the buyer’s monthly housing payment would only be a third of their income. Their monthly housing costs would be around $2,500, assuming a down payment of 20%, a 30-year rate of 6.3%, as well as taxes and insurance.

To be sure, “an economic downturn isn’t necessarily bad news for buyers,” McLaughlin said, based on a 2023 survey of visitors to its site.

About 36% buyers indicated then that a recession would make them somewhat more likely to purchase a home, McLaughlin said, with that share being even higher among first-time buyers at 42%, and 32% among repeat buyers.

And if the U.S. economy enters a recession and a buyer’s income is not impacted and is “relatively secure,” he added, “a recession could present advantages for homebuyers, such as higher inventory, lower rates and a slower moving market.”

But buying a house should also be a decision that is based on one’s finances and risk tolerance, with a focus on whether one can pay their mortgage versus getting a good rate or price, Mark Palim, deputy chief economist at Fannie Mae, told MarketWatch.

“I would really not try to time the market,” he added. “I wouldn’t try to time home prices or rates. I would look at my personal budget, my personal circumstances… [and if] you’re comfortable enough to ride out whatever happens in the economy.”

Stankiewicz also advised home buyers to factor long-term needs and a variety of scenarios. “What ultimately people should be focusing on is, is the home right for them? Is it right for their family, and do they see them living there for, you know, seven to 10 years?” Stankiewicz said. “Is it right for their financial situation going forward?”

Low housing inventory still a problem in some parts of the country

Lower mortgage rates could also free up more housing inventory across the nation, Fannie Mae’s Palim said.

Higher interest rates discourage homeowners from moving, particularly those who have ultra-low mortgage rates. A move could necessitate them taking on financing at an interest rate that’s double what they presently have.

Consider this: For a homeowner who still has an outstanding balance of $200,000 and a rate of 3.5% on their mortgage, buying a house of equal value at a new rate of 7% would mean their monthly payment would increase by 38%, which would add up to $110,000 over the remaining life of the loan, according to a working paper titled “Household Mobility and Mortgage Rate Lock,” circulated by the National Bureau of Economic Research on Monday.

That “creates a large disincentive to move,” the researchers added. Higher interest rates prevented roughly 800,000 moves from happening between the third quarter of 2022 and second quarter of 2023, the researchers found. “For households moving between July 2022 and June 2023, the average rate gap was about 2.7 percentage points, which corresponded to a difference in annual payments of $4,928,” they wrote.

With homeowners staying put, the inventory of homes for sale has remained low in many parts of the U.S. Housing inventory is 32% below pre-pandemic averages, according to a monthly report from ICE, with “stubbornly low” levels in the Northeast.

‘Fixated on the American Dream’ versus weighing costs of homeownership

Home buyers eager to snap up lower rates should also be aware of the rising cost of owning property. Homeowners have been especially challenged by the cost of utilities, which includes electricity, gas, water and sewage, as well as homeowners insurance, and real-estate taxes, according to a recent survey by Fannie Mae.

Aspiring homeowners should factor those costs in before committing to a home, Stankiewicz said. “People become so fixated on the American Dream, owning a house,” he said. But they sometimes ignore the “other costs that come along with it,” he added.

So even though mortgage rates are falling and people might feel compelled to buy now, rather than wait until they can afford to, they should not “get too caught up in that,” Stankiewicz added, and “buy a home that’s not right for them at the wrong time.”

Read more at Realtor.com

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As Featured in West + Main Home Magazine: Little Rainbow Kaua'i

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West + Main Agent Kate Kazell
and West Way Lending Mortgage Professional Dan Kazell

“All the decor is locally sourced on island from mostly local artists or small businesses”
— Kate Kazell

West + Main agent Kate Kazell and her husband Dan (a mortgage professional with West Way Lending) have spent many years traveling to Hawaii as often as possible. Now that they have two adorable little girls, they decided to invest in their own little piece of paradise...a wonderful condo on Kauai!

"We did a big cosmetic overhaul as soon as we bought it - paint, some wallpaper accent walls, new lighting + hardware, and completely refurnished,” said Kate. “We did it all DIY in a couple weeks staying there with the girls this past spring, and it made a huge difference even though it was all cosmetic and not huge updates."

Little Rainbow Kauai is booking super well on Airbnb, largely in part because of the amazing location, but also because Dan + Kate have made it pretty unique and cute.

“This summer we’re planning a kitchen renovation to open it up with a one-level island vs the pony wall/bartop, and I think opening it all up will make it even that much better!

 

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