The spring season appears to be warming up in housing as more and more buyers enter the market. And after rising mortgage rates sidelined so many buyers last year, that’s a good sign for sellers. Realtor.com has the latest:
“Spring is officially here, and like green shoots emerging from the bleak winter, new data suggests that more buyers are back in the market, although more subdued compared to a year ago.”
We know buyer activity is trending up because of mortgage purchase application data According to Investopedia:
“A mortgage application is a document submitted to a lender when you apply for a mortgage to purchase real estate.”
That means the number of mortgage applications shows how many buyers are applying for mortgages Put another way, an increase in mortgage applications means an increase in buyer demand – and as Joel Kan, VP and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains, application activity started ramping up as mortgage rates fell steadily in March:
“Application activity increased as mortgage rates declined recent increases, along with data from other sources showing an uptick in home sales, is a welcome development ”
In fact, we can see how mortgage rates have a direct impact on applications over time As rates rose dramatically last year, applications fell in response (see graph):
Source: Mortgage News Daily, MBA
The recent uptick in mortgage applications, as well as the decline in mortgage rates, is good news for sellers because it means more buyers are actively looking for homes.
Buyers are coming this spring, which is typically the busiest time of the year in real estate And as Realtor com tells us, if you’re a seller, you need to prepare:
“If homeowners are planning to sell in 2023, now is the time to get ready.”
Work with your real estate agent to maximize your home’s appeal and get it listed at the ideal price for your area.
"Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country,"
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Spring cleaning can help you regain a sense of control over the environment in your home, reduce your stress levels, increase your focus, improve your mood, and may even reduce symptoms of anxiety and depression. Here are some spring cleaning tips to help you out.
1. Clean crumbs out of hard-to-reach spaces
If there's a gap between your stove and your kitchen counters, there's a good chance food bits have made their way into this tight, dark space. Use the crevice tool on your vacuum to reach into this space, then place a stove gap cover between the counter and stove to cut down on the debris that falls out of view.
2. Deep-clean the fridge
In addition to wiping down your fridge's interior shelving on a regular basis, give the removable bins and shelves a deep-clean every now and then. Pop out the door shelves and bins and wash them in warm, soapy water to help get rid of food bacteria and spillage
3. De-gunk your oven
Use the appliance's self-cleaning function to remove stubborn, baked-on grime. If your oven doesn't have one, place a hot, wet cloth on top of burned spots to help soften the gunk Then apply an oven cleaner and let stand for as long as the manufacturer recommends. Rinse with a wet cloth and wipe dry.
4. Scrub down kitchen cabinets
To de-gunk, use a cabinet cleaner to cut through dirt and leave wood moisturized. Do an extra pass around any places where grease collects, like door and drawer pulls.
5. Freshen up musty carpets
To rid your carpet of odors, sprinkle baking soda or carpet deodorizer on your carpet. Using a soft brush, work the baking soda into your carpet and let it set for 15 to 30 minutes Vacuum the baking soda off the carpet with a fresh bag or clean dirt cup
6. Wipe down the walls
Rid painted walls of greasy fingerprints, dust and stains by wiping them with a damp microfiber cloth or a clean, damp microfiber mop Be sure to start from the top and make your way to the bottom; bonus points if you wipe the doorframes and baseboards too
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