The answer is different for each homeowner. Your earning power, expected future earning power, savings, and even your hobbies will all have an impact on how you choose to pay your mortgage. The good news is that there really are simple, effective tactics for paying off your mortgage early — as long as you're willing to stay committed to the process.
One of the best ways to pay off your mortgage early is to make sure that your mortgage fits your finances well before signing on the dotted line. Free mortgage calculators are very useful when shopping for a mortgage. If you're already locked into a mortgage, don't worry, there's still plenty you can do to more quickly own your home free and clear.
While the goal of saving more and spending less holds true for all homeowners interested in paying off their mortgage early, there are many different ways to reach that goal after buying a house. Research, experiment, and find the savings tips that work for you. The benefits of owning your home free and clear are worth the effort.
Shrimp is a staple of many Cajun and Creole dishes, and there is no better place to find fresh shrimp than Louisiana. Fresh, Gulf shrimp is the most popular seafood in the state, and for good reason. Shrimp is incredibly versatile. Whether you like it fried, grilled, or blackened, everyone has a favorite style, including many of our real estate agents who are often in search of new local shrimp-based dishes to try.
Whether you're visiting the area or are a local looking for a good new restaurant, here are five popular destinations where you can get some delicious shrimp around Shreveport.
There's no place better to enjoy authentic Cajun and Creole seafood than Lousiana. If you're considering a move to the Shreveport and Bossier City area, contact us today.
MAY IS THE MOST IMPORTANT WORD
By Brad Gosslee, President, Coldwell Banker Gosslee
This is my May blog. And it's also an article that will use the word "may" over and over. That's because there remain a whole lot of unknowns about what may occur in housing over the near- and long-term future. But there remains one certainty…we are still in the one of the hottest and tightest times in real estate history that is especially challenging in Northwest Louisiana.
Let's start with today. We continue to see strong buyer demand met with a limited supply of available homes, causing continued rising prices.
I want to explain a bit more about the current market while I also look into the future of what may occur.
As you can tell from my blogs, I love digging into the statistics associated with the housing market. I believe the numbers give us insight into what is occurring and what may be coming down the road with prices, sales and the pace of the market.
One of the most telling numbers that indicates a down-the-road shift may be coming is in the number of home sales. The National Association of Realtors just came out with its Existing Home Sales Report looking at April sales and shared that the U.S. was down 5.4% in sales over last April. This was the third time in a row that the sales figures were below the previous month. And locally, our sales in April were down 8% over last year.
That rationale for a decrease in sales likely has a lot to do with the following:
At the same time, we are continuing to see the repercussions of a record low number of homes on the market. If there aren't enough homes for sale, logic would indicate we can't sell as many homes.
The buying frenzy of these last several years, which was fueled by historically low mortgage rates and the "work from anywhere" phenomenon, has never allowed for an already dipping pre-pandemic supply of homes to keep up. If we continue to see fewer buyers, we may start to see homes stay on the market longer, with fewer multiple bids and therefore prices would stabilize. After all, double-digit percentage increases are not sustainable.
But for now, we remain in dire need of more listings. I am hopeful that potential sellers who may have waited to "time the market" and sell at the peak, may recognize that we may be at that point and decide to list.
The inventory challenge has been exacerbated by another phenomenon of modern times – aging in place. The older generation, those 65+, have the highest homeownership rate according to the U.S. Census, with just under 79% in this age group owning their homes. This figure more than doubles the 38.8% reported for those under 35. But these older homeowners may not be selling. In fact, AARP reports that more than 90% of them want to remain in their homes.
It's just another piece of our inventory concerns. We entered May in Caddo, Bossier and Desoto Parishes with only 667 homes for sale. This was just a 1.3-month supply, and off nearly 78% from just four years ago. Even though 606 new listings came on the market in April, they are being sold really quickly. In fact, the median days on market locally for all sold homes was a ridiculously fast nine days, which was almost twice as fast as the national figure of 17.
We remain in the greatest "seller's market" of all-time. As this next chart shows, because inventory levels are so low, sellers have a huge negotiating advantage. You can see that by comparing back to 2018.
Four years ago, we had a very balanced market at our lower price points – at or near the six-month supply. In this environment, neither side has a negotiating advantage. The script flips to the buyer's advantage when there are more properties available than buyer demand. Taking a look at the chart below, this is evident in the higher price points in 2018. You can also see how severe today's lack of inventory is:
Price Range |
April 2022 Available Homes/Month Supply |
April 2018 Available Homes/Month Supply |
Total |
667/1.3 |
2,289/5.9 |
$100,000 & less |
148/2.0 |
523/5.4 |
$100,000-$200,000 |
172/1.0 |
728/4.6 |
$200,000-$300,000 |
144/1.0 |
494/5.6 |
$300,000-$400,000 |
64/1.1 |
261/9.2 |
$400,000-$500,000 |
51/1.9 |
132/14.9 |
$500,000+ |
88/4.7 |
160/23.4 |
Now let's address sales and demand. While we are off a bit from last year, remember a year ago our frenzy was at full capacity. There were 469 home sales in April in Caddo, Bossier and Desoto Parishes. The drop of eight percent was off a record 510 a year ago. But if you look at our five-year April average of 426, we are actually running 10% ahead. So the demand is still there!
What's also interesting locally is that if we were selling more at the lower price points, we would be at record level pace. As this next chart shows, the move-up segments above $200,000 continue to show incredible sales strength.
Price Range |
YoY Number of Home Sales NW LOUISIANA |
YoY Number of Home Sales in Bossier Parish (% change over April 2021 |
YoY Number of Home Sales in Caddo Parish (% change over April 2021 |
YoY Number of Home Sales in Desoto Parish (% change over April 2021 |
Total |
1,723 (-4%) |
649 (-10%) |
1,021 (0%) |
54 (-11%) |
$100,000 & less |
281 (+5%) |
66 50 (0%) |
208 (+9%) |
8 (-27%) |
$100,000-$200,000 |
573 (-18%) |
173 (-25%) |
308 (-12%) |
15 (-42%) |
$200,000-$300,000 |
530 (+5%) |
233 (-6%) |
285 (+17%) |
12 (+0%) |
$300,000-$400,000 |
194 (-1%) |
112 (-2%) |
74 (0%) |
8 (0%) |
$400,000-$500,000 |
84 (+12%) |
48 (+55%) |
32 (-22%) |
4 (+100%) |
$500,000- |
34 (+21%) |
11 (-35%) |
17 (+55%) |
6 (+400%) |
$600,000+ |
27 (0%) |
6 (-40%) |
20 (+25%) |
1 (+100%) |
This is also the second straight month where we are not seeing dramatic increases in the number of sales over the previous year. In fact, because 2021 was such a strong sales year, we are even seeing large swings to the negative. But I urge you not to read into these shifts too much since they are compared to record levels. I am more focused on the price points that are still showing positive increases. A few months ago, we were seeing most of these in the plus 50-80% ranges. We are not seeing those same dramatic increases today. This may be an indicator that we are entering a more normalized market.
As you would expect with demand (buyers) still high being and a lack of supply, prices would continue to rise. And that is exactly what has occurred here and throughout the U.S.
Nationally, home prices have risen to a record median price of $391,200, up 14.8% over last year. For comparison's sake, it was $255,300 at this time in 2018. Locally we saw a similar April increase of 11% to $218,000. Thankfully our median priced home is $172,000 cheaper! Once again, the affordability of Northwest Louisiana is visible.
This next chart shows how we compare to the U.S. As you can see by what I've highlighted, our supply and pace is drastically lower than the nation:
|
U.S. (change over April '21) |
Northwest LA (change over April '21) |
Median Price |
$391,200/+14.6% |
$218,000/+11% |
Number of Sales |
5.61 million/-5.4% |
469/-8% |
Inventory |
1.03 million/-10.4% |
667/-14% |
Months Supply |
2.2/2.3 |
1.3/1.6 |
Median Days on Market |
17/17 |
9/10 |
I wanted to close this month's blog with a portion of the actual script from our radio ads that run on our local radio stations. It addresses a seller's needs:
NOW…MORE THAN EVER…SELLERS NEED A HIGHLY SKILLED….FULL TIME AGENT…..WHO IS WELL TRAINED ON PRICING AND NEGOTIATING MULTIPLE OFFERS.
THAT'S WHAT YOU WILL FIND IN A COLDWELL BANKER GOSSLEE AGENT…
REMEMBER…NOT ALL AGENTS ARE THE SAME…
YOUR TRUST HAS ALLOWED US TO BE THE #1 BROKERAGE IN NORTHWEST LOUISIANA FOR 29 STRAIGHT YEARS.
This is not just marketing speak. It is the truth. Sellers face different challenges today than they ever have, including managing the nearly daily changes in prices along with the ability to properly choose and negotiate with the right buyer.
I am confident that our agents are the most skilled in the region and I applaud them for continuing to train, learn and grow.
Remember, there are no silly questions. If you have any, please reach out to one of our agents or feel free to reach out to me at bgosslee@cbgosslee.com.
Hope you have a great Memorial Day start to summer!
(Shreveport, LA - May 24, 2022) - Katelyn Roan has joined Coldwell Banker Gosslee, the #1 real estate brokerage in Northwest Louisiana.
"For me, Real Estate has nothing to do with the transaction and everything to do with the relationship I build with my clients," says Katelyn. "I am armed with superior services, technologies and knowledge of the market conditions to provide a smooth process from beginning to end!"
Katelyn strives to serve her clients with compassion, leads with integrity and looks forward to being a part of everyones' story. She feels like it's an honor when someone chooses her to turn a page or close a book in their life's milestones!
"It is my goal to help my clients make the right move and be their forever Realtor! You will not find anyone willing to work harder for you. I am completely dedicated to my client's satisfaction and will always go above and beyond to make that happen."
Born and raised in Shreveport, LA, Katelyn knows the market well. She believes that it matters having an agent on your side who knows cities, towns, schools and all of the local things to make life easier! Katelyn is licensed in Louisiana and Texas.
You may contact Katelyn at 318.402.6983 or you can email her at kroanrealtor@gmail.com.
To find out how Coldwell Banker Gosslee has remained #1 for the 29th straight year, go to CBGosslee.com.
Is the yard a mess? Do the shutters need painting? Have you just cost yourself a contract by making a few simple mistakes. Here is a list of five home-selling mistakes to avoid with tips on how to correct them.
Avoid these common mistakes and you can be sure buyers will want to bite! And don't forget to talk to your real estate agent for even more advice on selling your home.
There's something magical about watching a movie on a warm summer night under the stars with friends. If you're not close to one of the few drive-in theaters still in existence, no worries – you can easily transform your backyard into an outdoor home theater. Here are five tips for turning your backyard into a pop-up movie theater.
Projector and Screen
If you want to capture the essence of the drive-in theater, there's no substitute for a good projector. An outdoor projector should be at least 1,200 lumens, a measurement of how much light a device emits. Another must-have feature are HDMI ports, so you can connect items such as Blu-ray DVD players. If you don't want to invest in a projector, bring your TV and DVD player outside.
Comfy Seating
Provide your guests with a range of comfortable seating options, including patio furniture, lounge chairs, blankets and outdoor pillows. Of if you have a pool, even better. Host a raft-up party and invite guests to bring their own pool float to relax on while the movie plays.
Snackage
Step up your game by creating a popcorn bar for guests. Fill small decorative bags with popcorn and offer an assortment of candy treats, marshmallows and other sweet mix-ins. And, of course, a movie night wouldn't be complete without offering some classic movie-theater candy like Raisinets, Jujubes and the perennial favorite – Junior Mints!
Soft Lights
While your yard needs to be dark enough to see the movie, you also will need a little light so guests don't trip over each other on the way to the snack bar. String lights and luminaries are a nice inexpensive option, casting a glow over your yard without distracting from the movie.
De-bugging
Spray the backyard before guests arrive, or, if your backyard isn't generally buggy, offer them insect repellent. There is quite an array of natural bug-repelling options available to keep the swatting to a minimum.
Hosting a backyard film fest isn't as challenging as you might think. With just a little planning ahead and some creativity, you can bring the drive-in movie theater experience to your backyard… possibly even better.
Whether you're moving across town or across the country, it's tough to feel like the new kid on the block--regardless of your age. Here are five great ways to make friends with your new neighbors and make the move into your new community.
When you buy a house, there's plenty to be excited about during the packing and moving processes. Once you're settled in, roll out the welcome wagon and meet your new neighbors. Your new house and neighborhood will soon be feeling just like "home sweet home."
This is especially true for younger people (the Millennial generation), who arguably have the most to gain from buying a house.
Millennials make up the largest group of first-time homeowners in America, and many in their 30's and even in their 20's are coming around to the benefits of buying their first home. Unfortunately, many factors are keeping Millennials from becoming homeowners—student debt, a volatile job market—but the numbers are improving. Here are four benefits of buying a home while you are young:
Age is just a number, of course, and the right time to become a homeowner is when you're ready.
Gear up for summer by giving your air conditioner a break and lowering your energy bill at the same time with these home cooling methods. Alternatives like energy-efficient windows, doors and electronics, filters and shading can help chill your home with less energy use, according to the U.S. Department of Energy.
Dress Your Windows
During peak daylight, it's a good idea to keep window coverings closed to block the sun's heat. Consider window awnings or roll-down shades for the outside of your home that can be operated remotely or put on a schedule. For your home interior, opt for insulated cellular shades or blinds that block out the sun and have reflective backing. Even fitted drapes that cover the interior blinds can help reduce heat in your home.
Fans for Cooling
A great way to help your air conditioner is to run ceiling fans at the same time. This circulates the cool air, so your A/C doesn't have to work quite so hard. A whole house fan is an entire air system that's installed in the attic to pull in air from the windows and push it out through the attic vents. This not only cools your whole home fast, but it also gives your attic, which is a major source of heat, better ventilation.
Adjustable Thermostats
No matter what the temperature is outside, you can always pre-set your thermostat according to the weather report and your schedule. Many new thermostats let you repeat daily settings or even control the temperature with an app. Check out this energy saver video for quick tips on what the optimal house temperateive should be.
Door Draft Stoppers
Consider adding door draft stoppers to your interior and exterior doors. These fitted plastic, magnetic or fabric pieces are placed at the bottom of entrances to stop heat from escaping. They provide the flexibility of being able to cover slight openings and cracks under the door. And don't forget the sliding glass door — there are extra-long options available to stop the draft before it starts.
Now that you know more ways to stay cool for the summer, you can see what works best for you and your home to make sure you have a nice, cool summer.
Whether you're thinking of selling soon or you plan to stay in your home for the long haul, your outdoor space is more important now than ever before. With the peak of the COVID-19 pandemic still fresh in our minds, most homeowners are re-evaluating their space and re-prioritizing what's important to them.
Today, many buyers are focused on making the best use of all available space. This has created a strong trend towards all types of outdoor upgrades. It's now one of the most sought-after features among home buyers, and we don't see this trend going away any time soon. Still not convinced? Here are three reasons to consider spending some of your time this summer upgrading our outdoor space.
1. Increased Home Value
Many outdoor upgrades increase the amount of usable living space on your property. According to a January 2021 survey conducted for the International Casual Furnishings Association, people spend more time outdoors doing things like grilling, dining, gardening, and spending time with their children and pets.
People want outdoor spaces that complement both their homes and their lifestyles. They want privacy, relaxation, and comfort when they're spending time outdoors. Since this is so desirable right now, you can expect upgrades that support these goals to earn you a solid return on your investment.
2. Improved Curb Appeal
Upgrades to your driveway, front entrance area, and landscaping will all improve your curb appeal. This will make your home more attractive and inviting. It will also go a long way towards making it more desirable when you decide to sell.
You never get a second chance to make a first impression, so don't miss out. You'll be surprised by how much even small upgrades like replacing your mailbox or house numbers can improve your home's curb appeal.
3. Long-Term Enjoyment
Even if you don't plan to sell your home any time soon, it's worth considering moving forward on the outdoor upgrade you've been dreaming of. Countless studies tout the benefits of spending time outdoors.
Creating a space where you can relax and enjoy your time off without ever leaving the comfort of your home will do wonders for your physical and mental health. You'll also have the peace of mind that comes with knowing you're making smart moves and keeping your home on-trend.
2021's Top Outdoor Upgrades
Outdoor kitchens top the list of desirable outdoor upgrades. This can range from a covered grill with some cabinet space to a full gourmet kitchen complete with pizza ovens, dishwashers, and more. Other desirable features include outdoor heating (ex. fire pits), outdoor bars, and comfortable outdoor seating areas. In some locations, inground pools are also making a comeback. Decks, patios, and outdoor gazebos are also growing in popularity.
It's important to note that you don't have to break the bank to follow this trend. Even a simple landscaping update can make a major difference in the value of your home. Other simple upgrades to consider include replacing your garage door, installing a sprinkler system, updating your front door, and adding landscape lighting.
Every buyer-to-be knows searching for a home can be a challenge. However, your house hunt doesn't have to mean chaos if you start with an organized plan. Streamlining your search starts with a healthy dose of preparation by including a great real estate agent, setting a budget, creating a wish list and reviewing real estate listings that meet your requirements.
These six tips can keep you organized and focused as you search for your new home.
Creating a plan before you start your search for a home gives you the chance to enjoy the process and to make an efficient, informed decision when it's time to place an offer on your new house.
There's no doubt that you're going to be busy while you work to sell your home, but focusing your energy in the right places will make your life much easier. Better yet, a bit of focused prep can make your home more appealing to potential buyers and ultimately makes it easier to find the right match as quickly as possible. Use this "survival guide" for selling your home to get started.
Your real estate agent will help make sure that people show up, so the most important thing you can do when selling a house is to make sure that your home is always ready to show. That part becomes significantly easier to maintain after you get the initial work out of the way, as long as you keep up with it consistently. With a little teamwork, you'll find the right buyer in no time.
It's hard to imagine a better way to spend a sunny spring day in Louisiana than a bike ride. It's the perfect season to enjoy the outdoors, and the Shreveport area is blessed with an abundance of excellent bike paths.
In honor of National Bike Month, which spans the entire month of May, Our real estate agents are here to share some of their favorites. Check out these perfect destinations for a family bike ride in the Shreveport, LA area!
Contact us today to learn more about life in Louisiana! Our real estate agents are dedicated to helping you find your dream home in Shreveport and the surrounding areas.
Tech To Smarten Up Your Household Cleaning
Need a little help around the house? Today's technological gadgets can clean gutters, mow lawns, vacuum floors and even clean your toilet bowls. This real-life tech is accessible for everyone to make life a little easier. Check out these cool ideas for some smart home cleaning gadgets.
Say Goodbye to the Pool Boy
Robotic pool cleaners can brush, scrub, vacuum and filter your pool's surface, making them just as handy, if not more so, than your typical pool maintenance company. Say goodbye to pesky leaves, dirt and grime on the pool walls with a touch a button. Top-of-the-line models let you set daily or weekly schedules with hassle-free cordless options.
Lawn Time Coming
The days of fighting the lawn (and the H.O.A.) are over. Robo lawn mowers are rapidly evolving to become even more efficient, streamlined and even quieter for painless grass cutting. That way, you can focus on spending time with family and friends instead of mowing your lawn under the hot sun. Many models can be scheduled to cut when you want them to and offer easy control, so you can take the work out of yard work.
Toilet Talk
Smart toilets offer amazing technology such as ultraviolet light for sanitizing, night lights, self-cleaning nozzles and deodorizers. These thrones give you more than the traditional toilet. Newly added comforts such as a heated seat, automatic opening and closing lid, front and rear warm water sprays, auto flush and warm-air dryer make your bathroom a high-tech experience.
Pet Products Save The Day
Tired of constantly cleaning the litter box? There's a robot for that. Check out this awesome list of smart pet products, including a remote-access automatic feeder, glow-in-the-dark collars, automatic pet door, treat tossing camera, GPS trackers and of course, the self-cleaning litter box. You and your furry friends will be glad you did.
Smart Starts in the Garage
If you've ever been locked out of your garage, you know the feeling. That's why smart garage door openers have been popping up everywhere to give homeowners access to easy-to-use tech. From Amazon deliveries to letting family and friends inside, these clever openers don't just click to close. They let you have control from your phone with daily notifications, custom schedules and even home lighting accessibility while you're away.
Let's not forget gadgets that wet mop, clean windows, scrub barbecue grills, offer companionship and even teach the kiddos. With so many options today, new technology can be a reality of modern life and can make yours so much easier!
Waterfront Buying: 8 Steps to Buying a House on the Lake
Does the idea of turning your love of spending weekends out on the lake, fishing, or lounging by the shore, into your everyday way of living? Buying a house on a lake could be your answer. However, be aware it comes with challenges making it a tall order. Still, the effort is worth it!
Let's look at eight crucial steps when buying a house out on the lake:
For the right buyer, a lakefront home is an ideal choice. As a primary residence, a seasonal vacation getaway, or even a rental property, it's an excellent investment in your quality of life. Use these eight tips, and you'll be on your way to a successful lakefront buy.
Downsizing frees you from the time, energy, and effort required from living in a larger home.
People have become obsessed with the idea that bigger is better. You see it everywhere: bigger burgers, bigger cars, and bigger houses. It's time to set the record straight — selling your house and downsizing your home might actually be a better lifestyle choice for you.
Choosing to buy a smaller home often has to do with the desire to live a more simple life. If you're trying to decide whether downsizing is the right move for you, here are some benefits to consider before taking the plunge.
Downsizing your home is about doing more with less. Rather than spending your time and energy maintaining a larger home, you may enjoy your life more by living in a smaller one.