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Charlie Wills Team
Team Leader, CRS, CLHMS
Work: 6088078802, Mobile: 6082203282
[email protected]
https://charliewills.firstweber.com
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![[decorative image]](https://www.firstweber.com/img/news/2022_08/pointleft_e6e7e8_48x84.png) |
Happy August!
Let’s explore the advantages of buying or selling in the current Real Estate market, together. Contact me today.
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Housing Market Remains Tight
INVENTORY
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Inventory in Wisconsin continues to remain tight with new listings dropping 13.5%, as well as total inventory being down a staggering 14.4% compared to June of 2021. These numbers have led to 2.8 months of inventory available on the market, signaling a significantly strong seller’s market.
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 AFFORD-ABILITY
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Housing affordability has been rocked in the recent months due to a multitude of factors, including a rise in home prices and stagnant median family income. The average home price in June increased by 10.2% year to date, which has pushed it up to $260,000.
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SALES
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Home sales continued to drop through June of 2022. Sales in 2022 were down 11.6% compared to June of 2021 and were also down 6.9% through the first six months of 2022 compared to the year prior.
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Source: https://www.wra.org/HSRJune2022
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“Properties continue to move at a brisk pace, with average days on the market falling to just 60 days through June. Even with rising mortgage rates, demand remains strong. However, we are seeing more price reductions and anticipate days on market to increase as we move through the year. Properly positioning your property and receiving the expertise of a First Weber agent is key to being successful in a transitioning real estate market.” |
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Shawna Alt, CEO
First Weber, Inc.
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MORTGAGE NEWS
The average 30-year fixed rate mortgage increased to 5.52% in June, up from 2.98% in June of 2021. This increase has taken a tool on how much consumers can afford to purchase with the average applicant being able to afford 127% of the median home price, down from 182% in June of 2021.
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Source: https://www.wra.org/HSRjune2022
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How to Make Your Home Energy Efficient
If you want to save money on your energy bill, it may be time to consider home improvements to make your home more energy-efficient. From small to big improvements, there are many ways to do this. There will be upfront costs, but they will save you money in the long run! Here are a few tips on how you can lower your energy bill and create a more energy-efficient home.
Check Your Windows
Depending on how old the windows are in your home, they may be making a big impact on your energy bill. You can upgrade your windows that both keep hot air in during the winter months as well as cool air throughout the summer. If you don’t want to replace your windows, check for drafts or leaks and seal them so your thermostat doesn’t have to work so hard.
Choose Energy Efficient Appliances
We don’t expect you to go ahead and replace all of your appliances after reading this, but when it’s time to swap out old appliances with new ones, make sure they are energy efficient. You can check appliances’ Energy Star rating by visiting their website and searching for products.
Improve Your Insulation
Insulation can drastically help reduce your heating and cooling costs. If your insulation hasn’t been updated in over 10 years, it may be time to replace it. According to EPA estimates, homeowners on average can save 15% on cooling and heating costs by effectively air sealing and insulating their homes.
Integrate Smart Home Products
Smart home products give you the best of both worlds. They not only make your home more energy-efficient, but they also provide convenience by automating your home. Your smart home system will adapt to your habits by adjusting your lighting, thermostat, etc. to help reduce your home’s energy output.
Check Your HVAC System
Your HVAC system affects the air quality in your home. They also impact your home’s energy output. As a matter of fact, HVAC systems account for 46 percent of energy consumption on average in U.S. homes. By regularly cleaning, replacing air filters or even replacing an old HVAC system you will save a significant amount on your energy bill.
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Source: https://blog.firstweber.com/2022/07/06/how-to-make-your-home-energy-efficient/
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When is the best time to replace your roof?
There are many reasons why you might need to replace your roof, but as with other home improvement projects, there are optimal and sub-optimal times to get it done. Here are just a few considerations when you’re wondering about the best season for redoing your roof.
Temperature
Temperature is the first thing to think about when planning an outdoor project. You don’t want to be working in intense heat, but you don’t want your fingers going cold and numb as you handle power tools, either. The ideal temperature is a moderate one during spring or fall. Make sure that you’re also paying attention to things like humidity, windchill, and air quality; these can be just as significant as the numbers on the thermometer.
Weather
You should always consider the weather when tackling outdoor renovation projects, but you’ll need to watch out for more than just extreme temperatures. Spring and summer storms can be volatile, bringing wind, rain, and hail that delays your roof work. You might also have to deal with things like unexpected heat waves softening your shingles or warping their adhesives.
Environmental Conditions
Winter is a dangerous time for roof replacement since ice and snow can make things slippery on top of your home. The colder temperatures can also create icicles and ice dams, which can be genuine health hazards that can cause bodily injury. Summer can also be dangerous with the possibility of everything from heatstroke to sweaty hands dropping tools.
Professional Availability
If you’ll be calling in the experts to help you with your roof, you should think about their availability. Home renovation companies tend to be high in demand in the spring and summer months. They might also need time to order and arrange supplies, especially if you’re opting for something like a solar roof, which can push your project from one season to the next. It’s best to contact them directly when working out a timetable for your roof work.
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Source: http://blog.rismedia.com/2022/when-is-the-best-time-to-replace-your-roof/
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Common DIY Home Improvment Mistakes
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Whether you bought a fixer-upper or want to make updates to your current home, you have a decision to make. You could hire someone for the job or take on the project yourself. If you choose the latter, make sure you’re prepared for the job. Here are some common homeowner DIY mistakes you should prepare for before your next home project. |
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NOT ENOUGH PLANNING |
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Taking on a home improvement project is no small task. Oftentimes, people don’t know exactly what they are getting themselves into. Make sure you take the time to plan every part of the process in order to avoid any bumps in the road on your home improvement journey. Check to see if you need any permits, estimate the cost of materials, make sure you have the right equipment, etc. Not planning beforehand can lead to many headaches down the road!
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UNDERESTIMATE TIME |
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Home improvement projects, especially big ones, take time even when professionals are doing the job. The last thing you want is to be living in a home that is unfinished for a significant amount of time. As mentioned, do your research beforehand to estimate how long it will take to complete a project and plan accordingly.
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UNDERESTIMATE COST |
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Even if you are tackling a project yourself, the cost of it will add up quickly. Consider everything you will potentially need and add it all up to get an estimate. You can then create a budget, but you may want to leave a little wiggle room just in case the project gets more expensive than you initially thought.
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OVERESTIMATING YOUR ABILITIES |
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We all have different skill levels when it comes to just about anything. It is best to recognize our abilities and be honest with ourselves prior to taking on a project. If you want to begin your first DIY project for your home, start with something small and hone your skills and slowly work your way up to bigger projects when you feel ready and able to take them on.
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| Home improvement projects can be difficult! According to a recent survey, over 40% of people found DIY projects to be more challenging and expensive than expected. If you take the time to plan, prepare, budget and set realistic expectations, your next home improvement project will go much more smoothly! |
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Source: https://blog.firstweber.com/2022/06/16/common-diy-home-improvement-mistakes/
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VALUABLE LINKS
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