Len and Leslie Marma | Marshfield Real Estate, Scituate Real Estate, Pembroke Real Estate


One to two guests visiting you at your home probably won’t cramp your rooms. However, depending on the size of your home, three or more visitors easily could. If you have young children, you could send them out of their bedrooms to sleep downstairs on the sofa. But, that may not work for many more years. Your guests also may not feel comfortable knowing that, because of their stay, your children had to give up their bedrooms. A few simple, temporary designs (these are easy to implement) could keep your children in their bedrooms and your guests comfortable. Pull out a sofa bed – This bed has a long tradition of meeting the extra sleeping space needed. Sofa beds come in leather, fabric, sectionals and three to four-seater styles. The range of colors is as broad as with a traditional sofa. A sectional adds seating and sleeping room. Pull the bed out at night; push it back in the morning. Add a daybed – Daybeds have improved over the years. They’re designed with storage drawers at their base. You could keep a daybed in your basement or attic. You could also keep a daybed on a screened in porch. Border the daybed with tall framed pictures or potted flowers when guests aren’t visiting to enjoy the furniture with your family. Get the rollaway bed out of the basement – Be especially kind to your guests if you opt to let them sleep on a rollaway bed, as these beds are not well padded. You may want to add a layer of foam beneath the mattress and the springs for added comfort. Give up your master bedroom – Add a sofa bed to your master bedroom for permanent design and temporary sleeping space for guests. If your guests are only going to be staying with you for a week or less, consider giving them your master bedroom, and you sleep on the sofa bed in the living room. Place bunk beds behind curtains or room dividers – This option offers privacy. Decorative privacy screens with a tri-fold design also work well. Another option is to place bunk beds behind sliding doors. When guests aren’t visiting, simply close the sliding doors. Make good use of your attic – Don’t forget your attic. Place a queen sized bed, dresser, mirror and chair in your attic and you have a full sized bedroom. Before you let guests stay in the attic, make sure that insulation is good, so your guests stay warm during winter and cool during summer. Hooray for the finished basement – You could add an office, bathroom and a full sized bedroom with a seating area in your finished basement, depending on how large the space is. Regardless of which options you choose, give your guests two pillows, fresh folded sheets and fresh towels to make them feel welcomed. Show your guests where stores, public transportation, restaurants, parks and bookstores are if your guests are going to be staying with you for an extended period. It’s a great way to help make them feel at home.

4 Curb Appeal Projects to Max Out Your Home’s Value https://www.houselogic.com/by-room/yard-patio/landscaping-home-value/#CurbAppeal #Lawn #Patio

www.houselogic.com, July 29th, 2017



300 Ocean St, Marshfield, MA 02050

Brant Rock

Single-Family

$599,000
Price

8
Rooms
4
Beds
2
Baths
A great location at the entrance to vibrant Brant Rock Village and all it's amenities. Only one house from the water and sandy beach, this updated 4 BR/2 Bth home features updated interior, many decks and fabulous ocean views. 3 floors of living space await the buyer looking for comfortable oceanside living. Move right in and vacation at home. BONUS: property is zoned for business (B-4) and enjoys exceptional visibility and traffic flow. Check table of use regulations for many professional and business services.
Open House
Sunday
July 30 at 12:00 PM to 2:00 PM
Come visit this 4/5 bedroom ocean side home in vibrant Brant Rock Village and only steps to the beach. Enjoy all that the Village has to offer..restaurants, shopping, beaches, marina, fishing, boating, etc. Property is also business zoned.
Cannot make the Open Houses?
Location: 300 Ocean St, Marshfield, MA 02050    Get Directions

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What happens if interest rate continues increasing

Several reports showed home prices continue to increase as affordability falls, however affordability will plummet even more next year.

The Federal Reserve plans to raise interest rates once more this year, and several times over the next couple of years. Currently, the 30-year fixed-rate mortgage hovers near 4%. A new report from Arch MI gives the scenario if interest rates increase to 5% or 6%.

The report shows the U.S. median existing home price is $246,000. The corresponding $1,200 monthly mortgage payment would require 25% of the median household’s $58,000 a year in pre-tax income.

However, if rates rise to 5%, the median debt-to-income increases 2% to 27% for the U.S. overall. In Texas, median DTI would increase from 21% to 23%, however California’s would increase from 46% to 50%.

If rates increase to 6%, the median DTI would increase to 31% for the U.S., 26% for Texas and 56% for California.

The chart below shows the decrease in affordability for the two scenarios.

Click to Enlarge

Affordability

(Source: Arch MI)

However, the report explains these increases, while drastic, are increasing from the current historical lows. From the report:

While large projected increases seem dramatic after a long period of mortgage rates hovering near historic lows, thankfully median DTIs are currently lower than their historical averages in most areas. For the United States overall, median DTI would just move up to the historical average since 1975. For median DTI to be similar to the “normal” years (1990 to 2004), rates need to be around 5.5%.

While home prices peaked in 2007, total housing costs peaked much before that in the 1980s when interest rates spiked to nearly 18%, the report explains. Housing costs hit a low in 2012 to 2013 as home prices and interest rates fell after the crash.

Since then, affordability worsened as home prices increased faster than incomes. But while interest rates will increase to an estimated 5% by the end of 2018 and 6% by the end of 2019, most economists expect home price growth will also slow to between 2% and 4% once rates begin to rise.

But while home price increases may slow, there is little chance of seeing them fall through 2018. The average probability that home prices will decrease in America’s largest 400 cities remains unusually low at 4%.

The map below shows the states that are most at risk of home prices dropping.

Click to Enlarge

Affordability

(Source: Arch MI)

The Arch MI Risk Index estimates the probability home prices will be lower in two years, times 100. The higher the Risk Index value, the more likely an area is to experience slower than normal economic and home price growth, and the more likely it is to see outright home price declines.


Many would-be buyers sitting on the sidelines

Houses sunset

Although homes continued selling at a record pace, existing home sales dropped in June due to low levels of inventory, according to the latest report from the National Association of Realtors.

Total existing home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 1.8% to a seasonally adjusted annual rate of 5.52 million in June. This is down from 5.62 million in May.

Despite this monthly decrease to the second lowest level of 2017, the sales pace is still up 0.7% from last year.

“Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that’s straining their budget,” NAR Chief Economist Lawrence Yun said. “The demand for buying a home is as strong as it has been since before the Great Recession.”

“Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines,” Yun said. “The good news is that sales are still running slightly above last year’s pace despite these persistent market challenges.”

Home prices continue to rise, increasing 6.5% from last year’s $247,600 to $263,800 in June 2017. This increase surpassed May as the new peak, and marks the 64th consecutive month of annual gains.

Total housing inventory dropped 0.5% from May and 7.1% from June last year to 1.96 million existing homes available for sale. Inventory has now fallen annually for 25 consecutive months. Unsold housing inventory rests at a 4.3-month supply, down from 4.6 months a year ago.

“It’s shaping up to be another year of below average sales to first-time buyers despite a healthy economy that continues to create jobs,” Yun said. “Worsening supply and affordability conditions in many markets have unfortunately put a temporary hold on many aspiring buyers’ dreams of owning a home this year.”

Properties stayed on the market for an average 28 days in June, up from May’s 27 days but down from 34 days last year.




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