The Sully Group

May Newsletter


Want to help yourself and your mortgage lender?

Now Might Be A Good Time
To Buy A Home


7.3 Million Boomerang Buyers May Be
Coming Into The Market.

In 2015, the first wave of 7.3 million homeowners who lost their home to foreclosure or short sale during the foreclosure crisis are now past the seven-year window they conservatively need to repair their credit and qualify to buy a home. More waves of these potential boomerang buyers will be moving past that 7-year window over the next eight years corresponding to the eight years of above historically normal foreclosure activity from 2007 to 2014.

While millennials have gotten a lot of attention lately as the generation whose below-normal homeownership rates are changing the landscape of the U.S. real estate market, the boomerang buyers – who are primarily Generation Xers or Baby Boomers – represent a massive wave of potential pent-up demand that could shape the housing market in the short term even more dramatically. Homeownership done responsibly is still one of the best disciplined wealth-building strategies, and there is much more data available for homebuyers than there was five years ago to help them make an informed decision about a home purchase.

U.S. Census data shows homeownership rates for those ages 35 to 44 – roughly Generation X – were 11 percent below historical averages in the third quarter of 2014, while home ownership rates for the below age 35 cohort – roughly the Millennial generation – were 10 percent below historical averages.

 

dollar sign in lawnStrenghten Your Credit Score

Figure What You Can Afford

Save For A Down Payment

Build A Healthy Savings Account

Get Preapproved For A Mortgage

Buy A House You Love

dollar sign in lawn


Home Organization

It’s a wonderful time to get your home organized in anticipation of the busy summer months ahead. Effective storage solutions and organization systems will enable you to enjoy your home to its fullest. Here are some tips to put you on track.

Learn To Let Things Go
The
first step in any organization plan is purging. This can be the hardest part, but it is also the most rewarding.

Don’t Let The Perfect Be The Enemy Of The Good

Any organization effort is better than no organization effort. It’s best to approach a behemoth task like organizing your entire home in stages.

Think Outside The Box

A trip to the Container Store can be fun, but unorthodox storage solutions make for a more interesting space. The three Bs always rule: bins, buckets and baskets.
Oh, and jars. (That doesn’t start with a B.)

Use Your Vertical Space

If your home doesn’t have a huge footprint, vertical solutions are essential for staying organized. These can be implemented in a more practical manner, like stacking bins and boxes under your bed or in your closet.

The best reason to get and stay organized? You’ll save yourself valuable time – which means you can focus on doing things that really matter to you.

dollar sign in lawn


6 Top Tips To Refresh Your Laundry Room

Transform a cramped laundry room to a space that’s loads of fun. Everyone has something they would rather be doing than washing and drying load after load of laundry. But laundry doesn’t have to be so bad. This seemingly never-ending chore is often completed in a neglected, cramped room of the house. With the right upgrades, your laundry room can go from blah to beautiful, which goes a long way toward making the time you spend doing laundry much more enjoyable.

Identify Bottlenecks
Every family is different, so the first step is thinking
about how you use your laundry room. Do the clothes pile up without space to sort them? Or do they get washed and sorted only to never make it back to their closets and drawers?

Think of Second Uses

Common second uses are a linen or cleaning supply storage, or room for your furry friends.

Give your Back a Break

Newer washers and dryers are predominantly front loading, which can result in needing to bend closer to the ground to load and unload clothing. A feature of newer washers and dryers is that they are often stackable.

Make a Place to Hang Out

A dedicated space to hang clothes results in fewer wrinkles, and increases the chances that clothes will make it back to your closets. Try a closet-style hanging rod.

Add Some Style

Laundry rooms are not typically high visibility spaces. When it comes to decorative choices, go crazy?

Light It Up

Nothing ruins a morning faster than putting on newly cleaned clothes and seeing a stain in the daylight that wasn’t visible in your poorly lit laundry room.

dollar sign in lawn


Want To Find A Stud In The Wall?

Knock
Knock along the wall near where you
think a stud might be located. You
will hear the knock become higher
pitched and sound less hollow
once you’ve found a stud.

Locate A Wall Outlet

Outlet boxes and light switch boxes
are usually affixed to a stud on one
side. Find these boxes and you can be
sure there’s a stud nearby. You can also
remove the faceplate to
find out exactly which side it’s on.

Use A Strong Magnet

Run a magnet along the wall until it
finds a screw. Drywall screws will be
near the surface and catch
the magnet as it passes by.
dollar sign in lawn

Do you have any mortgage or real estate questions? Just call me!