Prep Your Home For Guests With These Tips

The holidays are a special time of year when joy and laughter fill the air. We decorate the house with festive ornaments, string lights along the rooftop, shop for holiday gifts, and celebrate the season with family and friends who come to visit.

Whether your holiday guests are visiting overnight or staying for a few days, they need a cozy place to relax and sleep. Hosting guests requires some preparation, but you don't need to stress. With a little effort, you can make your guests feel comfortable and welcome for the holidays.

Create a Warm Welcome

Welcome your guests to your home with a festive entry that showcases the holiday season. Starting outdoors, adorn the trees and shrubs with holiday twinkle lights, line the front walkway with poinsettias, hang a seasonal wreath on the front door, and greet your guests with a cup of hot chocolate. As guests step into your home, welcome them with scented holiday candles, a roaring fire in the fireplace, freshly-baked muffins, and a beautiful holiday tree filled with ornaments, tinsel, and wrapped gifts.

Stock the Kitchen

When you're hosting overnight guests, make sure you stock the kitchen with extra food and beverages. A self-service style layout will keep you from playing short-order cook, especially when guests are staying for several days. Set up an area in the kitchen for a coffee bar with mugs, spoons, and sweeteners. Provide a convenient countertop area for making toast, sandwiches, salads, and plate lunches. For late-night snacks, fill a big basket with fresh fruits, snacks, and sweets so guests can munch at their leisure.

Prepare the Guest Bedroom

A beautiful, inviting guest room is a sure way to make your holiday guests feel welcome. First, create a comfortable, cozy bed with fresh linens, puffy pillows, and warm blankets or quilts. As a welcoming gesture, leave some mints or chocolates on the pillows and a good book on the nightstand. Next, make room for your guests' personal belongings:

• Find space for suitcases
• Clear a shelf or drawer
• Clear out space in the closet
• Make room for a laptop
• Buy an extra shoe rack

If your guests are staying for a while, make sure they have easy access to wall plugs and consider sharing your wi-fi password. To create more restful sleep, put a sound machine, a small fan, or a humidifier in the room. If there's no TV in the guest room, leave some magazines, a pack of playing cards, or a puzzle on the dresser. In case of an emergency, make sure there's a flashlight near the bed.

Prepare the Guest Bathroom

Whether your guest bathroom is directly off the bedroom or down the hall, make sure your guests have everything they need. Before you start gathering essentials, clean the bathroom spic and span, clear out non-essentials, fill the room with fresh scents, and put down non-slip rugs. Once the bathroom is sparkling, you can put out guest essentials:

• Fresh towels and washcloths
• Rolls of extra toilet paper
• Toiletries (toothbrushes and toothpaste)
• Liquid or bar soap
• Shampoo and conditioner
• Air freshener
• A first-aid kit

Some people travel with their own beauty essentials, so put a decorative basket on the sink or vanity where they can conveniently store them during their visit. For fresh scents and a relaxing atmosphere, place a few holiday candles on the tub or the vanity.

Above all, remember it's the personal attention you show to your guests that really matters, so welcome them to a comfortable holiday home filled with warmth, laughter, and lasting memories.

5 Things to Do Before Your First Showing

You work hard to get potential buyers into your home. Whether you've scheduled a last-minute viewing or a daylong open house, your home should be ready when they arrive.

Every room should be neat, clean, aired out, comfortable, and bright. Your entire home should be a silent invitation to buy. It's important to hide the stuff that sends a different message.

• Your Identity
  When a potential buyer looks at your home, they want to consider what it would be like if they lived there. Your presence during a viewing would make it difficult, which is why you're not invited. Things in your home that present the same dilemma should be hidden.
  
  - Family photos may tell potential buyers, "this is their"
  - Cultural or ethnic mementos can send a divisive message.
  - Guns and political mementos are controversial and may inspire anger.
  - An odd smell can be the only thing a potential buyer remembers about your home.
  
  
• Pets and Pet Evidence
  Potential home buyers see dogs and cats as smelly little creatures that leave behind a permanent odor. You're not likely to get rid of your beloved pet just to sell your home. However, you should eliminate tell-tale pet evidence before each showing.
  
  - Make pet odor and hair removal an ongoing project.
  - Take litter boxes, animal habitats, and food and water dishes with you.
  - Get a pet carrier for quick getaways.
  - Light a mildly scented candle to cover left-behind odors.
  
  
• Clutter
  Your clutter might be irreplaceable knick-knacks, beautiful collectibles, or a must-have shoe collection. Still, these things make your home look less roomy, less neat, and less desirable than its decluttered version.
  
  Remember:
  - Clear your stuff from every surface unless it serves a specific purpose.
  - Clean out and organize your closets.
  - Remove belongings stored under a bed. It gives the impression of too little storage space.
  - Clear kitchen counters except for high-end appliances.
  - Remove throw rugs. They're clutter-ish and also a trip and fall hazard.
  - Store removed items away from your residence.
  
  
• Valuables
  You have no idea who is in your home during an open house. It's impossible for your real estate agent to watch everyone every moment, so it's best to be cautious. Take your jewelry and other valuables with you, or consider storing them in a safe deposit box.
  
  
• Toys
  Toys are often hard to manage because they're everywhere, and children aren't big fans of decluttering. If you're tidying up your home to put it on the market, now is a good time to establish a donate-toys-to-charity habit with your kids.
  
  Your children's generosity will make it easier to keep your rooms neat during the marketing process.

Keep these tips in mind when prepping for your first showing, and you're sure to attract the attention of promising buyers.

5 Holiday Decorating Tips for Small Spaces

Are you in the process of getting your decorations up and realizing you're running out of room? Maybe you are starting to outgrow your current home? Today, we are sharing 5 decorating tips for small spaces.

Keep It Simple

A Christmas tree is a must but opt for something smaller that won't take up a ton of space. When it comes to your Christmas decor theme, use lots of neutrals. Winter White looks so pretty againt a tree and won't overwhelm small spaces. 

Create Ambiance

Candles are your best friend when it comes to making smaller spaces festive and cozy. You might not have tons of extra space for strands of garlands and lights without feeling overwhelming, but candles can be added to decorative trays, countertops and your mantle, if you have one. 

Chunky Linens

Swap out linens and blankers with cozy, chunky textures. Think chuny knut blankets, sheepskin rugs and comfy pillows. If you don't want to totally replace what you have then bring on the layers! Festive flannel sheets are a fun way to add decor to your bedroom without taking up any additional space.

Festive Framed Artwork

One of the easiest ways to add holiday cheer to your home is to swap out current framed photos or art with fun Christmas prints. You can even print your own Christmas quotes in pretty font and frame them for the season.

Bring The Outdoors In

Evergreen clippings, berries and birch logs for the win! You can add berries to a pretty vase, and use evergreen clippings to accent the fireplace, kitchen table, a mirror - really anywhere! Lean birch logs against a corner wall or throw into a woven basket for some easy decor.

What do you think of these simple holiday decor ideas? What is your favorite way to make your home festive for the holidays?

Buying a House for a Blended Family

When the step-siblings of The Brady Bunch made their TV debut in 1969, the concept of a blended family was something of a novelty. Today, according to data from the U.S. Census Bureau, approximately 75 percent of divorced people remarry and 65 percent of those remarriages include children. In addition, a study by Pew Research Center indicates that 16 percent of kids under the age of 18 are living in blended families.

By definition, a blended family increases the number of household members, making it unlikely that either of the current homes is suitable options. If you're buying a house for a blended family, start off on the right note with these helpful tips.

• Get Professional Financial Advice
  In first marriages, couples are generally building a financial profile together. Couples who come together later in life have already established careers, credit histories, and tolerance for risk. Consult a financial advisor who can help create mutually compatible goals and budgets.
• Be Realistic about Space Considerations
  What seems doable in theory often turns out to be impractical in reality. How many kids can reasonably share a bedroom? Will everyone have to stand in line to shower in a single bathroom? Give your blended family room to breathe as they become accustomed to their new living situation.
• Choose Location Strategically
  If real estate is all about "location, location, location," that applies double to buying a house for a blended family. Instead of having only one side relocate, you may decide on a "neutral" neighborhood to put everyone on equal footing. Proximity to kids' other parents is also a vital factor in shared custody arrangements.
• Involve the Kids
  When partners in a new relationship have children, kids may often feel they are along for the ride. They may find themselves in the middle of changes completely out of their control. Bring kids along as you view houses and solicit their input to emphasize that it's their home also. Once you've made the move, assign each child a designing "project" to put their own stamp on the new home.
• Plan Timing Carefully
  Coordinating the process of buying a house with the sale of your existing home can be tricky enough. When you add in the sale of a second home, it becomes a real juggling act. Prepare a backup plan, such as renting out one of the homes or moving into a short-term rental, in case the timing hits a snag.

The definition of family continues expanding to include previously non-traditional forms, but the idea of home as the center of family life remains constant. Buying a house that accommodates the needs of a blended family is the first step toward creating happy memories together.

The Ultimate To-Do List For Home Sellers

Selling your home involves a lot of details — some you probably haven't even thought about. There are a few main areas most of these fall under, and having a list can help you plan and prepare effectively.

The Planning Stages

You've made the decision to sell your home, and now it's time to work out all the details.

• Determine your timeline. How fast do you need to sell? Do you need to find another home first? How much time will you need to prepare your home?
• Make a list of all repair or upgrade projects. Big and small inside and outside. Estimate completion time and cost.
• Have an idea about pricing. You probably don't want to decide on the final figure without talking to your agent first, but do some research and think about a range that takes into account any major repairs or upgrades.

Work on Curb Appeal

The first thing buyers notice about your house is the outside, so start here. Walk toward the street and look at your house to see what kind of first impression buyers are getting. What can be improved? 

• Remove clutter. Branches and debris, trash cans, bikes, tools, and toys should all be removed or put away.
• Mow and edge the lawn.
• Trim trees and shrubs. Make sure they aren't blocking windows or the view of the house.
• Add flowers or plants and mulch.
• Repair or add a walkway.
• Paint. You may not need to paint the entire house. A fresh coat or color change on the trim, shutters, front door or garage door may be enough.
• Update a curbside mailbox.
• Replace, relocate or repaint house numbers.
• Repair, replace or add exterior lighting.
• Add or refresh porch furniture.
  

Getting the Inside Ready

You'll want the inside of your home to look just as amazing as the outside. Consider hiring a professional home stager. Having someone who doesn't have an emotional attachment to anything in the home can be helpful.

Here are some other things you can do.

• Declutter. Dispose of, donate or store unnecessary items. Remember, buyers will look everywhere. The less you have to hide or reorganize, the better. 
• Remove your personal touches. Flashy décor and artwork, family photos, and collections should be removed. It's hard for buyers to envision themselves in the home when your belongings are visible.
• Detail clean. Wash walls and baseboards and molding to remove scuff marks and fingerprints. Clean inside cabinets, corners, and window tracks. Every house has those areas that get passed over. Now is the time to make sure they're clean.
• Paint. Freshening up the color or repainting in a neutral color can give your home wider appeal.
• Make small repairs. Potential buyers see burned-out light bulbs, loose handles and doorknobs, and dripping faucets and wonder what else may have been neglected.
• Take a sniff. Weird smells are a major turn-off. Clean, sanitize, or get rid of the source.
• Lock up or relocate valuables.
• Wash windows.
• Redo caulking in the bathroom and clean the grout. 
  

Meet with Your Real Estate Agent

It's a good idea to use a real estate agent when selling your home. An agent will list your home, publicize it, and schedule tours. They can also advise you on pricing. 

There are a lot of details involved in selling your home. Being well organized and planning ahead can save time and help you get the price you're looking for.

You Just Might Have Seller's Remorse

No matter how much you're looking forward to turning over your house keys to a new owner, selling your home can lead to deep soul-searching.

Did I get a good price? Will the new owners love my home the way I do? Did I really want to sell in the first place? If you're asking yourself these questions, you just might have a case of seller's remorse.

When you walk away from a place you love, it can feel like abandoning an old friend. Fortunately, the emotional attachments will likely fade with time. The financial regrets that settle in after closing can be even more difficult, but you'll have to let them go as well. Those wordy closing documents you signed are contracts. They're difficult to break, no matter how much remorse you feel.

The best time to manage seller's remorse is before you put your home on the market. Begin the process by asking yourself these questions:

Am I listing for the right reason?

Empty nest? Divorce? Financial gain? Impulse? Exactly why are you selling your home? If you received a big job offer with a deadline to relocate to a new city, selling your home can feel like lifting a weight off your shoulders. If you list your home because Uncle Bob said you could make a ton of money, you might not realize it's a bad idea until the deal is done. 

Only you can decide if selling your home is the right decision for you. 

Am I listing for the right price?

Pricing your home can be tricky. It's not an exact science, but your real estate agent can help. Review recent home sales and research comparables — homes similar to yours in similar neighborhoods. Also, when calculating the potential net return on your sale, don't ignore these and other before-sale and after-sale costs.

• Home repairs and upgrades
• Cleaning and landscaping
• Staging and photography
• Commissions
• Relocation costs

Your price should include enough wiggle room to negotiate with a serious buyer. If your price is too high, you'll attract few potential buyers. If you price your home too low, you may lose money on the deal. That's a sure trigger for seller's remorse.

Have I found my next home?

Whatever the cause of your seller's remorse, it will likely fade with time. The healing process may take longer to begin if you sign the closing documents on your old home but don't have a new home to go to.

Sellers do that sometimes when a buyer's purchase is contingent on a quick closing. You can do it too. But if you don't have a backup plan, the sensation of temporary "homelessness" can leave you with an acute case of remorse. It's important to think before you list:

• Find a home before you put your home on the market.
• Consider what you'll do if your home sells quickly.
• Locate movers and storage facilities that require little notice.
• Research temporary housing options.
• Offer the buyer incentives in exchange for a delayed closing.

Seller's remorse happens

The sense of having made the wrong choice can happen any time you make a decision with long-range consequences. That's why it's important to work with a real estate professional when you decide to sell your home. Your real estate agent can work with you from pre-listing through closing. You'll gain confidence in the home-selling process, and that will minimize your chances of succumbing to seller's remorse.

Make Your Home Smarter Without Spending A Fortune

Everything from security cameras and thermostats to light bulbs and locks is now available with wireless connectivity, and when multiple devices communicate, they join an "Internet of things" that instantly makes life more convenient and customizable. Some even learn your preferences and household habits, then adjust themselves accordingly. However, some homeowners still assume that "smart home" technology is still out of their price range.

If you want to smarten up your home and take advantage of the latest gadgets, you don't actually have to invest in a six-figure rewiring job. Instead, just take some of the following steps to keep your home compatible with the 21st century.

• Swap Out Your Light Bulbs for Smart LED Bulbs
  Traditional light bulbs generate heat, use electricity, emit one color, need to be replaced every so often, and only respond to physical switches. Smart LED bulbs, on the other hand, generate no heat, use far less electricity, may change colors, last much longer, and can be controlled wirelessly. Whether you care about the planet or you need more lighting options, WiFi LED bulbs like the Philips Hue system or single LIFX bulbs are the way to go. If you want to spend less than $20 per bulb, opt for Bluetooth-enabled bulbs like the GE C-Life instead.
  
  
• Plug Your Appliances into Smart Plugs
  Do you want to control your oven, computer, TV, or any other appliance remotely? You don't have to wait until a "smart fridge" is in the budget. Now, it's possible to connect your mobile devices to anything that plugs into your wall, thanks to pass-through plugs like the Belkin WeMo Insight Switch or the mydlink Home Smart Plug. Download an app to turn appliances on and off, monitor usage patterns, and more.
  
  
• Invest in a Nest
  It's hard to overstate the value of a programmable thermostat, especially when it's as striking as the popular Nest. This wireless-enabled thermostat is easy to plug into your existing HVAC wires, and once it's installed, you can use your phone to adjust the minimum and maximum temperatures, set specific temperatures, program fluctuations, and more. Best of all, the Nest knows where you are and adjusts your temperature accordingly. You can even set it to conserve extra energy by turning off its screen until you walk up to it.
  
  
• Greet Visitors with the Ring Video Doorbell
  Who's at the door? If you had a Ring doorbell, you would never have to ask that question again. Ring integrates two-way audio for speaking back and forth through the door, a camera that allows you to see your visitors in HD from anywhere in the house (or the world) in any lighting, and motion sensors that make it easy to start recording when someone arrives. With Ring, you can even set up mobile alerts when someone rings the bell or comes near your door. Ring's doorbells range from $150 per doorbell to more than $600 for whole camera systems, but peace of mind is priceless.

How will you turn your house into a smart home? Investing in a few wireless gadgets now may save time, money, and energy for years to come, but let's be honest: it makes your house look a whole lot cooler, too. Whether you hope to attract buyers soon or you want to make life in your new home more convenient and futuristic, these smart products are a great place to start.

Savvy Ways to Increase Your Home's Value

Whether you plan to be in your home for just a few more months or many more years, there are plenty of efficient ways to maximize your space and increase its value. This type of investment needn't require a loan, nor does it have to span any great length of time. From green living to greenery in your yard, here are a few impactful and straightforward means of boosting your home's value and appeal over the short or long term.

A Smart Move

Green is the new black. Any form of energy efficiencies and conservation in your home will inevitably be a fiscal gain. Whether you install energy-saving window treatments or solar panels, both options can reduce utility expenses for you and any future inhabitants. When it comes time to replace appliances, a prudent decision would be to select a "smart" model of said item, which can significantly lower long-term energy costs.

While on the topic of efficiency, a wise investment would be installing "smart" devices throughout your property. Think digital features such as automated blinds or shades, security cameras, door locks, security lighting and thermostats. When you're ready to sell, the smart tech will appeal to buyers with a penchant for the added value of convenience and connectivity.

Wide Open Spaces

Create visual space in rooms by keeping them clutter-free and organized, which can be solved by simply installing a stylish shelving unit to keep extraneous items out of sight. Seek the help of a professional organizer who will be bursting with innovative ideas to optimize the storage areas in your dwelling.

Another way to increase square footage without a renovation is to let the sunshine in! Avoid heavy drapes and instead, use modern window treatments that add height such as roller, Roman or cellular shades. Similarly, you can position a decorative floor-to-ceiling mirror in any room to visually double your space.

From the Bottom Up

Explore the possibility of replacing the flooring in a few key spaces. A unique, beautiful and buzzworthy material is cork, which is also known to have antibacterial properties. If you opt for new surfaces under your feet, consider installing radiant heating simultaneously. These systems not only add optimum comfort, but are also aesthetically pleasing and energy efficient.

Make an impact through your lighting choices. Utilize contemporary or dramatic fixtures to complement each room. Whether you choose minimal or eye-catching designs – the right piece in the optimal locale can add intrigue and substance to your residence.

Kick It Up a Notch

Significant updates to your kitchen and bathroom are sure to boost value. Modern appliances and updated décor increase appeal to buyers, so consider a new backsplash or that roomy farmhouse-style sink you've been eyeing. Think one step further and install a water filtration system to add practicality and luxury to your dwelling. Additional elements like stylish sconces, a new vanity or a vintage mirror can elevate functionality and increase allure.

It's Only Natural

Consider your front and backyard. If there is an area that would benefit from some striking landscaping or creative plantings, explore your options or consult with a professional landscape architect or designer. Executed well, a garden or other natural elements in your yard can become lovely extensions of your home's indoor atmosphere.

When you look around, there are many ways to enhance the comfort and appeal of your property that will serve you well as a resident – and add value one day when you're ready to sell.

LAWRENCE YUN IS NOT TALKING ABOUT US
By Brad Gosslee, President, Coldwell Banker Gosslee

We are coming to a very special time of year as we celebrate Thanksgiving and the holidays with our friends and loved ones. And, of course, as a former football player who played at Byrd High School, I'm also pumped up that it's almost time for the Independence Bowl! I can't wait to see which teams and their fans are coming to Shreveport!

This is also a great time for me to take a moment and once again salute our Coldwell Banker Gosslee agents. For those of you who have worked with them, especially over the last couple of years during the pandemic-fueled real estate frenzy, you saw how dedicated and exceptional they are. Now with mortgage rates rising, their value will grow even more! As our company has been a fabric of the region for more than 60 years and the market leader for three-straight decades, our agents have been through numerous market changes. They are well-trained and ready to support buyers and sellers in a uniquely different market.

The story of rising mortgage rates is everywhere. It's obviously big news. But I came across a quote from National Association of Realtors Chief Economist Lawrence Yun that makes a lot of sense:

"More potential homebuyers were squeezed out from qualifying for a mortgage in October as mortgage rates climbed higher. The impact is greater in expensive areas of the country and in markets that witnessed significant home price gains in recent years."

Because our home prices are nowhere near San Jose's $1.4 million, Seattle's $750,000 or Austin's $550,000, the financial challenges may not be as severe for our buyers. While no one wants to pay more, Lawrence's point is valid. It's likely harder to pay $2,700 more a month for a loan than $400.

I say this because the median price for a home in Caddo, Bossier and Desoto Parishes is currently $212,000. Using Lawrence's views as a guide, here is a breakdown of what monthly loan payments would be in several markets – compared to earlier this year - assuming no extra fees or having a down payment.

His theory seems to be true in Northwest Louisiana judging by home sales too.

While the National Association of Realtors reports that home sales are down 28.3% in October nationally, we are down 24%. The reason it is so far off is because we were in blistering times a year ago. And to provide a comparison, I looked at some markets in uber-expensive California. The San Francisco market is off 37.5% and Los Angeles is down just about the same (39.8%).

Locally, for all of 2022 so far (not just October which I just described), there have been 4,475 home sales in our three parishes which is down 12% from the blistering pace of a year ago. But we are still up compared to more traditional times like 2018 (4,074) and 2019 (4,152) prior to the pandemic:

As I said earlier, obviously higher interest rates are not what buyers or sellers want. Hopefully as the nation overcomes inflation, mortgage rates may come down. If you want to geek-out, pay attention to the 10-Year Treasury Note which is the greatest indicator of where mortgage rates are likely headed.

But in the meantime, our agents are working closely with our friends at Fairway Mortgage to show prospective buyers that 30-year-fixed rate loans are not the only option. In fact, here are some terms and loan options to understand:

• You can refinance; "Marry the home…date the loan." I don't know who originally said this, but it's a brilliant line. The belief is that you can always re-finance your loan when they drop. Most economists predict this will likely occur in the middle of 2023.
• Adjustable Rate Mortgages (ARMs): Because mortgage rates dropped so low during the pandemic, most took 30 or 15-year fixed rate mortgages. But ARMs give you a lower rate for a sizeable time period, usually 5, 7 or 10 years, before readjusting.
• Buy Downs: Along with having a down payment to lower costs, you can also pay more upfront in your loan. This can lower your interest rate and thus the monthly payments.
• Other options: There are several loans that aid buyers including those from the Federal Housing Administration (FHA) and the Department of Veterans Affairs (VA).

We have to remember that the need for a home will always be there. This is because life events will dictate moves including happy occasions like engagements and marriages, children and growing families, job promotions and new jobs. If you are considering buying a home, you owe it to yourself to speak with one of our agents. Northwest Louisiana is a very different place than the rest of the nation and having someone who understands our current market conditions will be a huge help to you. I promise!

Let's now get into the nitty gritty of what IS occurring on the real estate front in our wonderful area.

The first thing we have to understand is that home prices are slowing their pace of appreciation. You may remember that I've always referred to Northwest Louisiana as a "Steady Eddie" market where we would usually see a 2-3% increase in home prices each year. But because of the recent historically-low mortgage rates, the ability to work from anywhere and our amazing affordability, we saw demand far exceed supply and therefore home prices went up locally in dramatic fashion over the last couple of years.

We are now starting to slow down. We have had back-to-back months where prices were less than they were at the same time a year ago. This could be expected because we could not sustain such a red-hot market and the price declines are off of record highs.

In fact, if you compare the median home price we had in October 2021 of $218,500 to this year of October-only sales, we are down 17%. But remember that even at this reduced price, we are still ahead of 2018's $165,000. While I don't have a crystal ball, I don't see prices dropping to those levels.

Even with the slowdown, our annual price appreciation is 7% for all of 2022

But here is the rub. We still do not have enough homes for active buyers to consider. Sure our buyer pool has decreased and we don't have multiple bids at the same levels we had last year and into the early part of 2022, but we still have only 1,072 homes on the market which is 51% less than we had available at this time in 2018.

While I am excited to see our inventory increase, we do need more homes to come on the market. This is why the monthly supply stat is valuable. We know that over the last 12 months we have been averaging 447 sales a month. Therefore, as you will see in the next chart, our 1,072 homes on the market would only last 2.4 months.

And while buyers don't have to choose a home at the same quick pace they did previously and have a little more negotiating wiggle room today, we are still in a sellers' market.  A balanced market locally – where neither buyer nor seller has a negotiating advantage – is about 5-6 months. You can see we are still a long way from that mark:

We are especially tight in the mid-tier price ranges. And, if/when mortgage rates retreat and more buyers came back into the market, we would see our supply dwindle further. This is why we also encourage potential sellers to talk with one of our agents. While we have moved past the top of the market, you may be surprised to know how your home has maintained its value.

One of the reasons for the market's slowdown is that higher rates pull out buyers at the lower end of the market. Also buying power dwindles and therefore others are forced to purchase less expensive homes. That appears to be occurring in Northwest Louisiana.

We saw 95 October sales at the $100,000 or less price point, the strongest October in this range since 2019. We had 18 more homes sold in this price range this year than last year, which is one of the main drivers for our lower median sales price. Remember, the median is the middle of all 1,072 homes sold last month. We also had 11 fewer $500,000+ homes. Therefore, our median price may be a bit skewed.

Here is a look at how we compare to the overall U.S.

I want to close by reminding you that the last two months of the year are normally two of the slowest in real estate. And while many buyers will take advantage of less competition, this is normally a time where families don't make changes and instead plan for the following year. In this case, a potential move.

I encourage you not to overwhelm yourself with everything you read on the web, including what we see on the national sites like Zillow and Realtor.com. It might create "paralysis by analysis." Instead, I encourage you to spend time talking to one of our agents. Get comfortable with the buying and selling process and what is occurring in your neighborhood today.

If you want to get even more insight, you can click here to get our Coldwell Banker Gosslee October 2022 Monthly Market Report. 

Please reach out to one of our agents or feel free to reach out to me at bgosslee@cbgosslee.com.

(November 18, 2022) Sarah Ramsey has joined Coldwell Banker Gosslee, the #1 Real Estate firm in NW Louisiana.

"As a recent first-time homebuyer, I really look forward to helping others learn the process of home buying, take the fear out of it, and just be there for them for their first and biggest purchase of their life!" -Sarah

Sarah is from Haughton, Lousiana, where she graduated high school. She then went on to earn a Bachelor degree in Mass Communications. She is self-motivated, organized, and well-versed in marketing and mass communications - which she feels will all be perfect for a successful career in real estate. 

"I enjoy the creative aspect in everything I do. With real estate, I would love to be a part in improving our area. A goal of mine if to invest in neglected homes and bring them back to life. I would love to help my clients along that journey as well. I would also love to put my artsy side to work by helping my clients stage their homes."

When Sarah isn't making real estate dreams come true for her clients, you'll find her creating handmade jewelry, reading, painting or traveling.

You can contact Sarah at 318.747.5411 or you can email her at sarahramsey454@gmail.com

To find out how Coldwell Banker Gosslee has remained #1 for the 29th straight year, go to cbgosslee.com.

Meet Your Neighbors with these Three Party Ideas

If your strategy for meeting the neighbors is a quick hello while walking the dog or picking up your mail, you need a better approach. Here are three ideas for neighborhood get-togethers that are easy to organize, inexpensive and a lot of fun. 

1. Progressive Dinner – Organize a progressive dinner party that involves traveling to several homes, each serving up a different course to the meal. Start with hors d'oeuvres at the first home, then move on to soup or salad at the next, an entrée at the next and then end with dessert at the final home. Leisurely pacing out the evening in this way is the perfect way to encourage lively chit-chat between bites and en route to the next destination. And because everyone chips in, no one host is burdened with the cost, preparation or clean-up for the entire meal.
2. Progressive Party – Put an engaging twist on the traditional cocktail party by applying the progressive concept to adult beverages: each stop can feature its own signature drink. There are all kinds of ways to spice things up, such as establishing an imaginative theme to the evening or having each home come up with a quirky name for its individual concoction. Once the creative juices start flowing, so will the conversation!
3. Game Night – A small group of eight or fewer can meet up for a rousing game night. Everyone has their favorites, whether it's trivia that tests your knowledge or a drawing game that gives you a chance to exhibit your artistic prowess. Teaming up and encouraging a little bit of healthy competition among friends (and soon-to-be-friends) is a sure way to get further acquainted while having fun in the process.

Since you already share a neighborhood, you may as well find out what else you have in common. This spring, assemble the troops and plan some creative festivities to mix and mingle.

6 Tips For A Stress-Free Home Closing

Whether you're buying or selling a home, closing day can be a stressful part of the process. The closing day is when everything related to your real estate transaction becomes finalized. Luckily, closing often goes smoothly — especially when you have a great real estate agent working with you throughout the process.

Once the sale is final, there are often still a few things you need to do. None of these steps are as big or as complex as what you've already been through but making sure they are taken care of will go a long way toward protecting you from last-minute hiccups.

Let's review some of the most important considerations you shouldn't forget:

1. Take Utilities Out of Your Name – Fast!
   Remove your name from all utilities as soon as possible after closing. Contact every utility and service provider, preferably on the day closing takes place. It could be much more difficult to get this done once you move out. Don't forget about insurance: You may be eligible for a refund of any prepaid premium on your old homeowner's policy.
   
   
2. Change Your Address
   Change your address with the post office about two to four weeks before your closing date. If you forget or decide to wait until things are really final, don't forget you can file your change of address with the USPS online. The IRS also offers an address change procedure. Check in with your local DMV to ensure your license will have the correct address, too.
   
   
3. Make Moving Out Easier
   Take a close look at any moving company estimate, especially before a long-distance move. Most movers will only insure what they pack themselves, so consider supplemental insurance for anything else. Be present during packing to ensure a higher quality of service. Excessive packing material can raise the weight of your items, leading to heftier charges.
   
   
4. Double-Check Your Settlement
   Even in a detail-oriented situation like closing on a home, mistakes do happen. To be certain everything is accurate, get out a copy of your closing disclosure and compare it to your loan estimate. You might save hundreds or even more if you happen to spot a discrepancy. The best time to do this is right away, so you can report any problems within 24 hours of the closing day.
   
   
5. Your Closing Documentation
   The worst-case scenario is this: A tiny typo leads to a situation where mortgages that should be paid off aren't. Reread all closing docs to ensure mortgages are fully paid and payoff amounts are correct. Also, keep your eyes peeled for any additional fees added by the title company. As closing approaches, fees become easier to estimate and should be disclosed well in advance.
   
   
6. Empty the Escrow Account
   Don't forget: Unused funds that you placed in escrow belong to you. There are two situations where this can cause headaches. More commonly, the title company fails to release escrow-held funds in a timely manner so you can access them. Occasionally, sellers make the mistake of leaving sales proceeds in a new escrow account, leading to complications down the line.

Closing day is a huge milestone for anyone — it marks true success in selling your home. To maximize your profits and minimize frustration, plan on two extra days to manage these last six issues. You'll be glad you did!

7 Factors to Consider When You're Selling Your Home

When you've made the decision on selling your home, the fun really starts!

Selling your home involves a lot of different moving parts. When you take things one step at a time, however, it all gets easier. Going into the selling process with a clear idea of what you need to do will reduce your stress and prevent you from overlooking key details.

Here are seven things you need to consider while selling your home:

1. You Need a Real Estate Agent
   First and foremost, you'll need a terrific real estate agent to help make your goals a reality. A local real estate expert will help you manage and accelerate the process: Pricing the home right, finding motivated buyers, and getting you to closing without a hitch. By contrast, sellers who try to go it alone often spend many extra months on a sale and get a much lower final price.
2. Gather Your Paperwork Early
   You'll need a ton of paperwork to make sure your sale goes forward on schedule. That includes lots of things you may not think much about: Warranty paperwork for your roof and major home systems, instruction manuals, details of home improvement projects, permits and certificates of compliance, mortgage information, and more. Get started early to get it all together.
3. Get a Professional Inspection
   A pre-sale inspection will save you time in the long run and put you in a superior negotiating position. An inspection is intended to help you uncover problems with the home. Things like the roof, septic, and electrical issues can make potential buyers wary. Having the information in front of you, however, allows you to work on repairs or adjust your approach to selling.
4. You'll Need to Prepare the Home
   When you're finally ready to sell a home, you can't simply open the doors. Cleaning it from top to bottom is imperative. That should include steam cleaning carpets and drapes and remove about half of the items from closets. Sometimes, it's also a good idea to remove certain furnishings and to make lighting a bit brighter. This can make the space seem larger and more inviting.
5. "Price it Right" from the Very Start
   Pricing a home correctly is one of the most challenging things for a homeowner to do. When you try to price a property after living there, your own feelings inevitably play a role. A real estate pro will produce a research-based price after looking at recent sales in the area and other factors. This is the best way to ensure you reach your goals on the timeline you want.
6. Perform Staging Before Showings
   Staging isn't the only aspect of selling a home, but it is very important. Your real estate agent should be versed in staging techniques or use an expert stager at no additional cost to you. The purpose of staging is to make your home show better, and there are hundreds of little ways to do this: From simple things like opening the blinds to more complex tactics like baking cookies.
7. Yes – Hold Weekly Open Houses
   Forget about any "controversy" you might've heard: Holding open houses is the most effective way to meet motivated buyers fast. Yes, your real estate agent should still be marketing your home proactively online, and yes, a vacant home is more challenging to show than one that's still occupied. Even so, the time and effort of weekly open houses are almost always well spent.

Selling your home starts with a firm decision. Once you've made that choice, give yourself every advantage you can by reaching out to a local real estate agent you can trust.

The Best Tips For Buying A Home In Your 20s (Or Early 30s)

The follow-up to the Millennial generation, the eldest members of Gen Z are aged 25 today. Research shows most of this up-and-coming cohort see buying a home as a major goal — one they plan to achieve earlier than their parents and grandparents.

Although they're an exciting new generation, Gen Z is in some ways a blast from the past. They think of homeownership as an important way to build wealth, just as their grandparents did. On the other hand, many Millennials remain wary of buying, especially among the older set.

Both older Gen Z and younger Millennials made a strong showing in the seller's market of 2021. There are many would-be buyers aged 25-35 who haven't settled on a property just yet, but their dreams are within reach. They just need to take the right steps to get there!

So, how can you buy a home in your 20s or early 30s?

Start with these tips:

• Handle Debt with Care
  Mortgage lenders use the debt-to-income ratio as a crucial factor when deciding what loan package you qualify for – so the debt you accrue along the way makes a big difference. Always pay bills on time, and do your best to avoid taking on new debts within six months of applying for a mortgage.
  
  
• Develop a Household Budget
  A household budget can help you save the money you need to pay off debts and accumulate a down payment, which is usually not less than 10% of a home's sale price. It will also come in handy when you need to decide whether the fixed costs associated with a given home are right for you.
  
  
• Find the Right Real Estate Agent
  The right real estate agent is your best ally as you navigate the housing market. Remember, it's okay to talk to several agents before choosing one. An agent should help you clarify your goals and put you in touch with the right resources to make an informed decision at every fork in the road.
  
  
• Connect with First-Time Homebuyer Programs
  First-time homebuyer programs provide buyers like you with the inside insight to make the most of the process. Check out government-backed mortgage programs such as those offered by the VA, USDA, and FHA. These often offer favorable lending terms and lower down payments.
  
  
• Prequalify for a Mortgage
  In prequalification, you submit income information to a mortgage lender and get a firm commitment on a funding package you then have the option to use within 30 or 60 days. This empowers you to make a move on the home you want as soon as you find it, helping you be more competitive.
  
  
• Set Your Priorities from the Start
  In general, it's a good idea for everyone who will be living in a home to set 1-3 "must-haves." This makes it easier for you to know when a home does or doesn't meet your needs. It also ensures your real estate agent can support you with listings that really work for you, potentially accelerating the process.
  
  
• Negotiate with Care
  It won't be a seller's market forever. As buyers gain clout, it becomes easier to negotiate for better terms. Never be afraid to walk away from a home, and be wary of properties sold "as-is." A mortgage lender usually won't fund a home with serious issues, so you'll need to have it inspected anyway.

Buying a home might seem intimidating, but your real estate agent is in your corner from start to finish. Use these tips in conjunction with your agent's advice, and you will be on your road to homeownership.

Are You The Reason Your Home Isn't Selling?

If you thought your home would sell quickly, but you haven't had a single offer so far, could you be the reason?

That's a hard reality to consider, but it's important if you're serious about selling your home. You should examine everything you did or did not do before and after your listing went live. Sometimes a single change can make a big difference.

When you've lived in your home for a long time, it's easy to miss conditions that might be obvious to a home buyer. That's why it's important to seek other opinions when re-evaluating your home. Sometimes you simply need a second pair of unbiased eyes to pinpoint obvious issues. Other times you may require professional input. Use this list of questions as a guide.  

Did you price your home unrealistically?

The selling price is a primary consideration for most home buyers. If your asking price is unreasonably high, buyers may just move on to the next listing. You can still recover from high pricing expectations.

• Adjust your asking price. 
• Be more flexible in negotiating a deal. 

Is your home ready for the market? 

If your home lacks the curb appeal that draws buyers to your door, do something. When you're selling your home, do whatever you must to make it a home buyer's magnet.

• Re-Landscape: Have a professional redo your DIY landscaping.
• Repair: Fix exterior and interior areas in need of attention.
• Repaint: Brighten interior rooms with lighter walls.
• Declutter: Remove unnecessary stuff for a less junky look.
• De-personalize: Remove personal photos, artwork, and mementos so homebuyers can visualize themselves in your home.
• Restage: Consider hiring a professional to rework your interior spaces.  

Is your home not quite clean enough?

When you're giving home buyers free rein, they'll find whatever you missed in your spotless home. Before putting your home on the market, have a professional do a deep cleaning. It will cost you, but they will eliminate problems you might not have noticed.

• Lingering odors: You might be "nose blind" to smells like mildew, pets, and garbage.
• Dust: Soil accumulates on surfaces high and low.
• Windows: Dirty windows keep natural light from entering.   
• Pet problems: Little Fluffy's litter scatterings and carpet stains may disgust a potential buyer.

Are your listing photos a turn-off?

Buyers respond to great photos. If your home has curb appeal, beautiful landscaping, and bright, spacious interiors, your listing photos must show it. It's worth the cost to have them done professionally.

Do you have bad Open House etiquette?

If you've scheduled only a few private showings and had no feedback from your open houses, eliminate yourself as a cause.

• Be available: Say yes to all private showings, even on short notice. Tidy up, leave, and let your real estate agent handle it.
• Open up your home: Establish an Open House schedule. Publicize your events to buyers outside your neighborhood.
• Ge out!: With you hovering and watching, potential buyers will feel more like trespassers than future owners. 
  

Your Real Estate Agent Matters

Most of your problems wouldn't be problems if you'd vetted your real estate professional. When selling your home, you need a real estate agent who will work with you throughout the process.

• Inspect your home
• Make recommendations
• Recommend stagers and photographers
• List your home only when it's ready
• Market traditionally and on social media
• Work with buyers and their representatives
• Execute bid, buy, and closing documents
  

While no real estate agent can make magic happen, a professional will work hard to minimize problems so you can sell your home.

5 Decluttering Hacks to Get Your Home Buyer-Ready

If you're thinking about selling your home, the next few months may be a great time to do it.

Selling a house requires presenting it in the best possible light. For some, that means spending time, money, and effort on cleanup and repairs. For others, the project starts with decluttering. Don't cringe... decluttering your home doesn't have to be a headache. These cleaning hacks will get you well on your way to a home that anyone would be happy to call their own.

1. Work on one room at a time. If you try to clean your entire house at once, you're likely to wind up feeling overwhelmed and defeated. It's much better to break it up into manageable chunks. Tackle one room per day until your whole house sparkles. If you don't have time to polish every square inch to a high shine, focus the bulk of your efforts on the most important areas – kitchens, bedrooms, bathrooms, and entryways.
   
   
2. Focus on horizontal surfaces. One shortcut to making your home immediately feel less cluttered is to zero in on horizontal surfaces like counters, shelves, tabletops, kitchen islands, mantels, and dresser tops. Clear off these surfaces, leaving only a few basic decorative items. You'll be amazed at how much more open your house feels after performing this one simple trick.
   
   
3. Look with a buyer's eye. It's hard to emotionally disconnect yourself from a place that has been home to you for years, but it's important to do so. Look at your house dispassionately, and ask yourself, as a potential buyer, what do you see? Chances are, you'll notice little things to clean or fix that had gone unnoticed for ages but would jump right out at someone who had never been in your house before.
   
   
4. Clear out personal items. Sellers often leave lots of family photos and other personal items on display, with the idea that they make the place look more lived-in and homey. Unfortunately, that's not usually a good tactic. Your house should appear to the buyer as a blank slate for their future life. Hard as it may be to pack up all your personal belongings, remember that the buyer should be able to envision their family photos on the walls and their kids' drawings on the refrigerator, not yours.
   
   
5. Don't forget the yard. The first thing a potential buyer sees isn't your clean kitchen or your perfectly organized entryway. It's your front yard. So it pays to make sure the outside portion of your house is just as thoroughly decluttered as the inside. Make sure the porch is clear, put kids' toys away, and stow all your garden tools in the garage. A clean front yard makes a lasting first impression.

When the time comes to sell your house, remember that presentation counts. Making repairs and improvements can definitely increase your home's resale value, but these simple decluttering tricks will go a long way toward presenting your home in the best way possible.

The Price is Right...Until It's Not

Of all the choices you have to make when it's time to sell your house, none are more important than setting the right asking price.

Unfortunately, zeroing in on that magic number can be tricky.

Set the price too high, and your home could languish on the market for months, or worse — maybe not sell at all. Set the price too low, and you could be cheating yourself out of thousands of dollars. Here's what you need to know about setting the perfect price for your home. 

1. Forget What You Paid for Your Home
   It's easy to recall what you paid for your home and think of that number as a rule by which to measure your asking price. But taking the price you paid and adding a little extra doesn't always add up to the right number. Some homes appreciate in value more than might be expected, and some appreciate less. The best thing you can do is not even think about what your home was worth when you bought it.
   
   
2. Look at Other Homes in Your Area
   Consider what other homes on your street and in the surrounding neighborhood typically sell for. If there are any other homes on the market now, that's a good starting point, but also look at the sale prices of homes similar to yours in the past months and even years to gain an understanding of market values in your neck of the woods.
   
   
3. Be Unemotional
   Letting go of a place that has been your home for many years is difficult, and you might be tempted to overestimate the financial value of your home based on what it's worth to you on an emotional level. But for better or worse, you can't put a price tag on memories, so it's best to approach pricing your home with as little emotional attachment as possible.
   
   
4. Leave Room for Negotiation
   Buyers love to negotiate, and that's something you should factor into your pricing. It pays to price your home with just enough wiggle room that a buyer can "talk you down" to a price that's fair to both of you. This can be tricky, as you can overshoot and end up with a high price that buyers balk at. That said, one of the biggest mistakes you can make is to start out by asking a rock-bottom price.
   
   
5. Keep Online Shoppers in Mind
   Once you've settled on a ballpark price range, you can fine-tune the number. This is when it pays to consider how your home will be listed on the internet. Many potential buyers browse online listings by price range. That means that if they search for homes in the $250,000 to $300,000 price range, for example, and your home is listed at $305,000, they won't even see it.
   
   
6. Talk With Your Real Estate Agent
   A real estate agent's experience can be invaluable when it comes to setting the price for your home. A good agent has in-depth knowledge of the local real estate market and years of experience selling homes in your area. Ask your agent to run a comparative market analysis to zero in on the right asking price.

As with so many things, first impressions are everything when it comes to selling a house. The longer your home stays on the market, the less likely it is to sell. Setting the right price is the key to selling your home quickly and making sure you get the amount for it that you deserve.

Real Estate Tricks and Treats

It can be hard to tell the real estate tricks from treats, so let's clear the confusion once and for all. Here are some of the most common real estate myths, debunked: 

MYTH: "You don't need a real estate agent to buy a home."

TRUTH: Buyer agents 1) Are duty-bound to put your interests first, 2) Will ensure you stay organized (and calm!) through the buying process, and 3) Use their local knowledge and expertise to help you realize the perfect home at a price you feel great about. Why would you want to skimp on that?

MYTH: "You should start the buying process by looking at homes." 

TRUTH: It's critical to start the process by getting your financial ducks in a row. First stop? A preapproval letter from a trusted lender. You'll thank yourself later when you're able to put in that offer lightning fast.

MYTH: "You need 20% down plus closing costs to buy."

TRUTH: While 20% is ideal, most buyers don't have that amount of cash lying around. There are many loans that have down payments as low as 3.5% (or even 0%!), so ask your agent or lender what's right for you.

When it comes to buying and selling, knowledge is power. Never blindly follow the advice you've heard from the internet or your friends without talking with an experienced agent. Have other thoughts or questions about buying? Reach out to us today! 

Bossier City Office: 318.747.5411    Shreveport Office: 318.861.2461

Let's Talk About Paperwork: What You Need To Buy A Home

From securing mortgage pre-approval through your lender to closing on your new home, the process of purchasing a home involves plenty of paperwork. You can make your life much easier by being prepared. Here are some of the key documents that you may need to provide or review throughout the process of purchasing your next home.

• Proof of Income
  In order to apply for loan pre-approval and determine how much you may be able to borrow, your lender may request a variety of documents to prove your income. These documents may include pay stubs, tax returns, bank statements, and retirement account statements.
  
  
• Proof of Employment
  Your lender wants to know where your down payment will come from and verify that you will be able to pay your mortgage, so they will also request proof of employment. Documents required may include pay stubs, 1099s, and W-2s.
  
  
• Debt Information
  Your lender will also want to be aware of any debts that you already owe, to ensure that you can pay those debts while also covering your mortgage. That could include information on student loans, car loans, and any other debts that you may be carrying.
  
  
• Loan Estimate
  While it's not an indication of your loan status, the loan estimate that your lender is required to send by law provides a broad outline of the terms of your potential loan. It's helpful to have this document available when you're comparing loan terms from multiple lenders.
  
  
• Loan Pre-Approval Letter
  Once you've provided your lender with all of the necessary documents, hopefully the next step will be receiving your pre-approval letter. While it doesn't mean that you've definitely secured the loan, this important piece of paperwork gives you a better idea of your budget.
  
  
• Purchase Agreement
  Once you have found a home you love and negotiated with the seller, the purchase agreement outlines the terms of the agreement. You won't need to create this document, but you'll need to be familiar with it in order to know your responsibilities before closing.
  
  
• Seller's Disclosure
  In some states, the seller is required to disclose any known issues with the home. The seller's disclosure, if required, provides important details on the home's history.
  
  
• Inspection Report
  The home inspection report provides detailed information on the condition of the home. If the inspection reveals problems, you might decide to negotiate with the seller for repairs or for a credit at closing that reflects issues with the condition of the home.
  
  
• Home Appraisal
  The home appraisal, which will typically be arranged by your lender, details the value of the home in the current real estate market. If the appraisal comes in significantly below your offer, you may have to pay the difference in cash or try to negotiate a lower price for the home.
  
  
• Proof of Homeowner's Insurance
  Your lender won't commit to a loan without proof that you have home insurance, so you'll want to have that ready to go in order to secure your loan.
  
  
• Government ID
  Sometimes, the simplest things are also the easiest to forget. You will need a government-issued ID like a driver's license or passport on closing day. Before closing, check that your ID isn't expired and that all of the information is up to date.

The exact documents you will need depend on your location and other factors. If you have any questions about exactly which documents will be needed in your market, your real estate agent should be a great source of advice.

What to do Now If You Plan on Selling Your Home in 2023

You might have pumpkin spice on your mind, but we're thinking about SPRING today! Why? Because if you want to sell your home during the next spring market, it's time to get to work!

Here are 5 things to do NOW in order to set yourself up for success in 2023.

PREP FOR SUCCESS.
Clean, donate, declutter and organize your closets and cabinets. And sell any furniture you plan to replace when you move into your new home. The more you do now, the less stressful the prep will be for showings.

MAKE A PLAN.
Once you sell, where will you go? What will you do if your home sells before you find a new one? Do you know what to do in a multiple offer situation? (Pssst: I do!)

HIRE A PHOTOGRAPHER.
Homes present much better in photographs and video when skies are blue and trees are full. (Pro tip: wait to put up seasonal decor! You don't want to market your home with a pumpkin on the front steps in February).

CONSIDER A PRE-INSPECTION.
Especially if your home is older and needs repairs. A knowledgeable inspector can help identify the red flags buyers will be on the lookout for so you can get them fixed prior to showings.

MEET WITH YOUR AGENT.
We can talk through your goals, priorities, and develop a good strategy to help get it done. If you're ready for a consultation, reach out to one of our agents today to set up a time to chat! They will be happy to answer all of your real estate questions.

Bossier City Office 318.747.5411  Shreveport Office 318.861.2461

THE REAL ESTATE CONUNDRUM
By Brad Gosslee, President, Coldwell Banker Gosslee

I love the word "conundrum." Not only does it sound cool, but its meaning has always fascinated me. It means "a confusing and difficult problem or question." I guess I've always loved challenges. I get to use one of my favorite words in this month's blog because our current housing market is definitely a conundrum.

As you already know, I love analyzing the numbers of our real estate market while comparing and contrasting us to the overall U.S. And I am fascinated with what is going on today. And because the market is complex, I wanted to use more of a "bulleted" style to help explain what is going on as easily as possible:

First, let's address interest rates:

• For a variety of reasons, mortgage interest rates have risen dramatically and quickly. While this is a huge shock for so many who got used to the rates being in the 3% range, we are still at relatively normal mortgage rate levels:
  • 1981 17.00%
  • 1985 12.96%
  • 1990 10.31%
  • 1995 9.13%
  • 2000 8.25%
  • 2005 5.66%
  • 2010 4.98%

Next, the supply of homes:

• At the national level, there are currently 1.25 million homes for sale in the U.S. This is down 0.8% from a year ago.
• In Northwest Louisiana, we are a bit different. We have 1,078 homes currently for sale. This is up 22% over last year's 881. While we are encouraged that the number is rising, we are still a long way from the 2,153 we had in September 2018.
• The lack of inventory is one of the dramatic differences from the "Great Recession", the last time the real estate industry endured a downturn. In its Existing Home Sales Report, the National Association of Realtors made a point that the low inventory levels today are in stark contrast to the 2009-2010 downturn when inventory was 4-times higher than it is today.
• Nationally, the supply of homes equates to a 3.2-month supply. This is up from 2.4 a year ago.
• Locally, we are at 2.4 months which is up from 1.8 months a year ago. For comparison, it was 5.2 months prior to the pandemic. Remember, in most markets, including ours, we remain in a "seller's market" nowhere close to the 5–6-month supply we traditionally call a balanced market where neither buyer or seller has a competitive negotiation advantage.
• Essentially the reason for the increase in month supply is not solely because of more homes coming on the market. We still need more supply. It's largely because the number of sales has declined.

This chart looks at our housing supply and breaks down where we stand at each price point compared to four years ago. Notice how low we are in the lower price ranges.

Let's get into sales:

• Nationally, this was the 8th straight month of decline in the number of home sales. The annualized number of September sales was 4.71 million, which was down 1.5% from August and 23.8% over last September. Remember, last year was one of the most active real estate markets ever.
• Locally, there were 416 September sales which was very similar to August (417). Last September there were 474 home sales. Our 5-year September average is 439. September marked the third month in a row where our sales were below that month's 5-year average.
• And for the entire year, there have been 4,071 homes sales in Caddo, Bossier and Desoto Parishes. This is off 11% from 2022, which was our strongest year ever. We are currently at the second-best year ever locally.
• In the U.S., homes stayed on the market for 19 days. It was 17 a year ago. 70% are still selling in 30 days or less. Locally, we are at 20 days, up from the ridiculously quick 8 days a year ago.
• There are several reasons for the slowdown in sales:
• The hot, pandemic-fueled market was not sustainable and had to slow at some point. And it has.
• Mortgage rates.
• We also must understand the cyclical trend of homes sales that slow after the spring/summer months.

The next two charts show what is occurring with sales for all of 2022 in the different price points and just September. You will see that sales at the lower price points are really off.

Now, let's look at how supply vs. demand has impacted home prices:

• The median home price in the U.S. in September was $384,800, up 8.4% from a year ago but behind June's all-time record of $413,800. This was the third-straight month of price declines.
• September was the 127th-straight month of year-over-year price gains which is a record.
• Locally, our median home price for all of 2022 is $215,000, up 9% from a 2021. In September only, the median price – the middle of all homes sold – was $200,000. This was up 4% from a year ago.
• My belief is that while prices will likely continue to slow a bit, we will still finish year ahead of last year. But the percentage increase will likely not be in double-digits which we have seen for the past couple of years.

This chart compares much of what I just shared comparing us to the U.S.:

Now I can address the conundrum of the real estate market. We are not seeing a normal shift.

What traditionally occurs is that home prices rise to a point buyers begin to pull back. When this occurs, the number of sales drop and inventory increases. This increased competition "levels the playing field" as buyers have more choice and seller's who overprice their home won't attract buyers.

But today things are drastically different, largely because of our post-pandemic world. And the challenges are complex. Allow me to go back to the bullet-style to explain:

• Unemployment is low and wages have increased. This gives us a robust potential buyer pool.
• Until the rise in mortgage rates, buyers were incredibly active and multiple bids were routine. While there are fewer buyers today, there are still plenty of buyers looking for homes.
• With higher monthly payments, many potential buyers need to look at lower price points. But, as I explained earlier, those are the ranges where we have the fewest choices thus limiting sales.
• While there are also many at the lower end of the wage scale who may no longer be able to afford a lower-priced home, those with good jobs, while not happy at the rates, can still afford to purchase a home. They recognize they can always refinance their loan if rates drop. This is one of the reasons we are still seeing active sales rates in the upper-end of the market.
• Current homebuyers, who likely have enjoyed great appreciation in their homes likely have historically-low mortgage rates. Many therefore are not willing to move.

The result of all of this is a bit of a stalemate. We are not yet seeing inventory rise to a level that equates to a buyer's market with lowered prices and plenty of choices. We still have a historically low supply of homes. And because the supply levels are low, the diminished pool of buyers still face competition.

With all of this, we must remember that we will always have home buyers and sellers. Engagement, marriage, births, new jobs and promotions, divorces, illness and unfortunately the loss of loved ones will always be there – the drivers of moves.

The market is complex. It is confusing. It can be hard to navigate. It is a conundrum.

I strongly encourage those interested in buying or selling a home to talk with one of our Coldwell Banker Gosslee agents to learn what is going on today. It can be overwhelming to understand current market conditions locally, along with what is happening in the market you might be moving to. Our agents are well-schooled in what is occurring in the market and working closely with their buyers and sellers.

So please, do yourself a huge favor and don't panic or become overwhelmed. Learn from our agents and get comfortable with the buying and selling process and what is occurring today.

While there is a lot of information available today, no national site or news outlet can properly explain what is happening here. Our agents are incredibly skilled at knowing what is happening community-by-community and neighborhood-by-neighborhood.

If you want to get even more insight, you can click here to get our Coldwell Banker Gosslee September 2022 Monthly Market Report.

Please reach out to one of our agents or feel free to reach out to me at bgosslee@cbgosslee.com.

(October 21, 2022) Thomas DuBois has joined Coldwell Banker Gosslee – the #1 Real Estate firm in Northwest Louisiana.

After working in the travel management business for 30+ years, Thomas is ready to spend his retirement in the real estate business.

Thomas began investing in real estate in North Texas in 2015. He then expanded his investments into Central Texas in 2018. When he moved back to Shreveport in 2020 to be closer to family, it was only natural for him to start investing in HOME.

"My passion is urban renewal! I am focusing on affordable housing and improving neighborhoods. I love being able to take distressed properties and turn them into completely beautiful rehabs." With Thomas' extensive background in investing, another one of his goals is to help his clients grow their investment portfolios.

Thomas and his partner recently purchased a home in the Fairfield Historic District in Shreveport and are excited about the renovation. You can contact Thomas by phone at 318.215.5531 or by email at thomas@thomasdubois.homes.

To find out how Coldwell Banker Gosslee has remained #1 for the 29^th straight year, go to cbgosslee.com.

Windows that Wow

What's one of the fastest and easiest ways to update a room? You guessed it – window treatments. Gone are the days of heavy, dark, drab curtains. Instead, you can refresh just about any space with a variety of modern options to fit every style and budget.

Now Trending
Whether you're creating a home office space, looking to be more eco-friendly or moving into a new home and want to add your own personal touches, window treatments can make all the difference.
If energy efficiency is on your list, you have many options to choose from. High-tech cellular shades offer temperature control capabilities in a variety of innovative designs. Roller shades have a modern, minimal look and provide UV ray protection while allowing ample natural light in. Blinds have also come a long way, now designed with modern patterns, textures and materials to enhance any space.

 Bring on the Drama
If you're ready to breathe new life into a room and add a little drama, consider luxurious curtains. Depending on how much light you want, a sophisticated, patterned drape can set the mood and make a bold statement.

By introducing a pop of color, like a bold orange or deep red, you can give your space a dramatic new look. Not into vibrant tones? White window treatments can be just as impactful. Layer white shades with a gauzy curtain to create a romantic and whimsical feel. You could also inject a little boho chic into a room by pairing classic woven or bamboo shades with patterned drapery. Whatever you choose, curtains can easily give your home a whole new look in a matter of minutes.

 Smart Tech
Who would've thought that you'd be able to open and close your curtains with the touch of a button? Say hello to smart windows, which let you control your blinds, curtains or shades through either a remote control or handy app. You can easily set up a schedule or use the setting to adjust your window treatments without even having to leave your comfy couch.

Giving your interiors a fresh new look is easier than ever by simply by changing out your window treatments. Whether you're creating a space that's soft and serene or bright and bold, these ideas should help set you off on the right path.

Finding a Home Loan Right for You

Whether you're buying a home for the first time or have navigated the process before, choosing the right home loan is key to long-term financial happiness with your next home. The number of loan options available can feel daunting to sort through, but the good news is there's a loan available to suit the needs of nearly every buyer. The trick is finding the right one for you. Get started with our guide to some of the most common types of home loans and how they might fit your needs.

• Conventional Mortgages
  Conventional mortgages rank among the most commonly used loans, and there are two types available. Conforming mortgages are backed by Fannie Mae or Freddie Mac, with maximum loan limits set by the county. Borrowing with a conforming, conventional mortgage will allow you to make a lower down payment but may require a higher interest rate than other loans. In most cases, you will be required to pay private mortgage insurance (PMI) if your down payment is less than 20 percent.
• Jumbo Mortgages
  The second type of conventional loan is a non-conforming mortgage, often referred to as a jumbo mortgage. A jumbo mortgage is typically used to purchase homes in affluent areas, where home values are higher than the limits for conforming loans. A jumbo mortgage requires excellent credit, a significant down payment, and extensive documentation to prove that the loan will fit within your finances.
• FHA or USDA Mortgages
  There are also a variety of government-insured loans available, including FHA and USDA mortgages. FHA mortgages are a popular tool for first-time buyers because they require low down payments and are available to buyers with less-than-perfect credit. USDA loans are primarily used to purchase homes in low-income or rural areas and may not require any down payment for buyers who meet certain income limits.
• VA Mortgages
  The final type of government-insured loan is a VA mortgage, which is available to military members (active or veteran) and their families. VA mortgages are very flexible, with low interest, no down payment needed, and no requirement to purchase PMI. These loans are generally considered a great option for military buyers because of the flexible terms and minimal requirements.
• Fixed-rate Mortgages
  When analyzing mortgage options, it's also important to consider how your loan terms might change over time. If you want financial certainty and have the opportunity to lock in a low rate, then a fixed-rate mortgage may provide just what you're seeking. With a fixed-rate mortgage, your interest rate is locked in for the duration of the loan, with terms that usually last for 15, 20, or 30 years. It takes longer to build equity with a fixed-rate mortgage, but choosing a fixed rate allows you to budget precisely for the life of the mortgage.
• Adjustable-rate Mortgages
  Unlike with a fixed-rate mortgage, your interest rate on an adjustable-rate mortgage can change over time based on market conditions. Some adjustable-rate mortgages will offer a low, fixed interest rate for the first few years, followed by fluctuating rates after the initial term. While adjustable-rate mortgages can offer lower interest rates to start, they also come with risks. Higher interest rates can make your payments unmanageable over time and may also make it harder to refinance if home values drop.

Choosing the right type of home loan is a big decision, so it's crucial to gather as much information as possible and seek advice from trusted advisors. By fully understanding the options available, you can make the right choice for your financial future.

How Much Home Can You Afford?

Determining your creditworthiness can help you learn what size mortgage you'll qualify for and lead you to a realistic homebuying budget. When you obtain a pre-approval from a mortgage lender, you'll know exactly what you can afford. Having a pre-approval letter will also make your offer more appealing to sellers. To ensure you are set for success for the homebuying journey, contact your Coldwell Banker-affiliated agent, who can connect you with a trusted loan officer.

Prior to any significant purchase, it's important to set a realistic budget, and buying a home is no exception. Do a reality check on your personal finances. Scrutinize your monthly income, expenses and debt-to-income ratio, so you can assess what funds you'll have available for a down payment and a monthly payment once you move into your new home.

Another important piece of this puzzle is your credit history. Check your current credit report for any debts you need to pay off so you're in a stronger position when it comes time to apply for a loan. The higher your credit score is, the more access you'll have to loans and lower interest rates.

Refer to a handy, online mortgage calculator to study property purchase prices. Do a quick search online and you'll find a variety of free options. In fact, many allow you to figure in important, relevant factors such as property taxes, down payment amounts, interest rates and home insurance to provide a detailed breakdown of what your monthly payments would look like.

To be really savvy, factor in related expenses such as upfront costs, closing costs and other fees you'll have prior to closing on a home. Also, budget for standard property maintenance expenses such as homeowner's insurance, taxes and repairs that may be needed in the short term after closing.

Comfort and joy in your first home start with setting realistic financial expectations ahead of time. Buying a home will likely be the biggest purchase of your life, after all.

10 Easy DIYs To Do Before Selling Your Home

One of the best parts of homeownership is the great do-it-yourself projects you can enjoy.

When it comes time to sell your home, it's even more important to apply the DIY spirit. The more time and energy you invest — known as sweat equity — the better your odds of getting the sale you want faster.

Consider these ten projects:

1. Painting the Exterior
   There's a reason "curb appeal" is so important: It's the first impression! A coat of exterior paint is the perfect way to help prospective buyers see themselves in the home. Plus, you can tone down unusual colors.
2. Power Washing the Exterior
   The best way to enhance your new paint job is to make sure the outside walls are clean as can be. This only takes a few hours of work and can take ten years off the apparent age of a house. Effects continue long after the average house is sold.
3. Manicuring the Lawn
   It can be tough to maintain a lawn. In some areas, scorching heat and restricted water use lead to brown patches. In others, weeds grow like — well, weeds! Before putting your home on the market, break out the mower and hedge clippers.
4. Steam Cleaning the Carpets
   This is vital if you have a cat or dog. Even the nicest carpets are bound to accumulate stains over time. The more of these you can remove, the better. A clean carpet is softer and more inviting.
5. Adding a Closet
   When you add a closet, you're really adding a bedroom. You don't have to outfit the room with furniture, but taking a weekend to install a closet can have a big impact on your sale price.
6. Cleaning the Gutters
   It's important to clean gutters at least twice yearly and whenever the weather gets heavy. Still, it's a chore that easily gets put off. When gutters clog, they can damage the roof and foundation.
7. Patching the Roof
   Roof issues are high on the list of problems many would-be buyers are keen to walk away from. Since so many buyers get inspections, beat them to the punch by fixing leaks or weak spots.
8. Replacing the Windows
   Broken windows not only age a house, they can make the whole neighborhood seem less desirable. Fix cosmetic damage and treat windows with coatings that reduce heat loss.
9. Tidying Up
   Get clutter out of the way — into closets or storage — to make things easier on yourself now and in the future. Buyers can envision their stuff in the space and you'll have less to do at sale time.
10. Replacing Air Conditioning Filters
    Washing or replacing AC filters helps to keep your ductwork functioning and improves air quality inside the house, which can be ten times worse than the air outside.

DIY projects are fun, exciting, and make a difference in your sale. Try these ten, and your buyers will really be wowed by what you have to offer.

Bossier City, Louisiana - October 14, 2022 -

Zedrick Tinsley has joined Coldwell Banker Gosslee – the #1 Real Estate firm in Northwest Louisiana.

"I'm a people person with a relentless work ethic and I have a passion for helping others!"

Zedrick has lived in Bossier City his whole life and loves his community. He even holds back-to-school drives, Easter egg hunts, and health & wellness fairs for them!

"I got into real estate so that I can help the people in my community and to make an impact on the world. I also see this as a personal goal – of being really good at the job and succeeding in this career."

Zedrick graduated from Airline High School. He has four beautiful girls. He enjoys watching football on Sundays. He also owns 'We Haul Hauling Services' – they can haul anything you need.

He looks forward to being your honest, knowledgeable, and helpful agent. You can contact Zedrick at (318)762-5372 or by email at zedtinsley1@gmail.com

To find out how Coldwell Banker Gosslee has remained #1 for the 29^th straight year, go to cbgosslee.com

A Young Family's Guide to Buying a Home

Many young families find themselves ready to buy a home--often for the first time. Buying a house that not only suits your own needs but also those of your child--and possibly future children--requires some planning, but the payoff is well worth it.

The following are some homebuying tips for young families:

Consider the Future
Buy a home that will not only suit your needs now but also in the future. Think about what you'll need in a home when your child is older. Consider the neighborhood and what the schools like. Is there a park nearby? Does the neighborhood have a lot of other kids that could be potential friends for your child?

Also, think about whether you'll want to add to your family in the next few years. How many bedrooms and bathrooms will you need? Could you use a bonus room to help provide a play space?

Budget Carefully
When you have a child, it can be harder to budget. Try to keep a larger cushion between your expenses and what you expect to earn in order to make sure you can handle your mortgage payments and other obligations.

For example, you or your spouse may want to reduce the number of hours you work, take a less demanding job, or quit work entirely. This will reduce your household income. Even if you keep your work schedules the same, you may have daycare costs. And whether you continue to work or change your employment situation, you'll also need to pay for everything from diapers to clothes to activities.

Make Sure Your Home is Safe for Children
A home should be a safe haven for your family, so make sure the house itself and its immediate environment area are child-friendly. Take a walk around the neighborhood to determine whether you feel safe. Do you live on a busy road, or in a quiet subdivision where your child could ride their bike? Is there a pool in your yard, and if so, are you comfortable making sure it's gated and has motion-detectors and also ensuring your child doesn't get near it if they're unsupervised? If you have a yard, is it fenced in, or will you take care of having this done yourself?

In addition, consider the inside of your home. Are there stairs, and if so, are you OK with buying and navigating your way past baby gates? And if you're buying a house that's older, make sure to have it tested for lead paint and asbestos before making a commitment.

Take Your Time
You may want to buy a home before you have your first child, but don't be in a hurry. Take your time and make sure your finances are in good shape and that you'll be able to be approved for a mortgage at a favorable interest rate.

And when you're ready to look for a home, don't settle for a house just because you're in a rush. Take your time and find a home that's right for you and your family. No home will probably include every single thing that you want, but if you're realistic, you should be able to find one that has the vast majority of attributes you're looking for.

Buying a house will help your family have a place of your own to bond and build memories. By planning, taking your time, and knowing what you're looking for, you'll find the home that's right for you.

How to Remove Dog Odors From Your Home

There are plenty of home improvement projects that will add value to your home if you're selling and add comfort to your home if you're staying put. One of these home improvement projects is clearing out pet odors from your house. Lingering smells from dogs are particularly unpleasant — and worst of all, you may have become so desensitized to them that you can't sense them at all! Regardless if you're planning to sell or planning to entertain guests, here are a few easy home improvement tips for removing dog odors from your home.

• Regularly Steam Clean Carpets
  Carpet fibers will trap pet odors and require much more than a simple vacuum treatment to remove them. Steam clean your carpets regularly, ensuring they are completely dry before your dog gets back on them.
  
  
• Wash Hard Flooring Weekly
  Although solid flooring won't trap odors as strongly as carpets do, they can still hold onto these smells. Along with vacuuming your floors for pet hair, wash them every week or two with soap and water.
  
  
• Use Furniture Covers
  Even if your dog is not allowed to sit on your bed or couch, your furniture can still hold onto pet odors. One home improvement hack is to purchase washable furniture covers that you can clean periodically to remove the smells and prevent them from getting on your clothing.  
  
  
• Clean Dog Beds Regularly
  No matter how often your dog uses their bed, it only takes one long nap to make it smell. Another home improvement hack is to purchase a dog bed that either has a washable cover or that can be cleaned easily to remove smells and stains.
  
  
• Throw Away Stinky Items
  Unfortunately, some of your items may be too stinky to save even with the most thorough of home improvement cleaning projects. Don't be afraid to throw items like dog beds or blankets away and replace them with fresh items.
  
  
• Purchase Specialty Cleaners
  Not all cleaning products are strong enough to remove pet odors. However, pet-specific cleaners are. Purchase specialty cleaners designed to remove dog odors for maximum effectiveness.
  
  
• Create Natural Cleaners
  Many pet owners don't want to use artificial chemicals in their home, especially on surfaces where their pets lay. Thankfully, you can create safe, homemade cleaners to remove pet odors. For instance, let baking soda sit overnight on the carpet, then vacuum it up or spritz surfaces with a little vodka, which will remove odors as the alcohol evaporates.
  
  
• Locate Problem Areas
  Since pet odors can linger, dogs may gravitate to those spaces and make them smell worse. Locate and treat these problem areas to eliminate the smell.  
  
  
• Purify the Air
  One way to eliminate odors without completing a home improvement project is to purify your home's air. Open windows to air out your home and change your ventilation filters regularly to cut down on unpleasant smells. You should also consider purchasing an air purifier if the smell becomes too much.
  
  
• Keep Your Pup Clean
  Keeping unpleasant odors away involves more than home improvement cleaning projects. You should also make sure your pet is regularly groomed and bathed so that they smell fresh and stay healthy.

Your home doesn't have to smell like you own a dog! Clean your home and four-legged friend consistently to eliminate strong odors from your house.

Curb Appeal Tips for Fall

First impressions are everything when it comes to selling your house.  When a potential home buyer drives by your home, what will they see?  The outside of your home should serve as a preview for the inside of your home.

"WOW" home buyers from the curb with these tips perfect for the fall. 

1. Spruce up your lawn
   Brilliant fall foliage can automatically "sell" your home for showings, but that doesn't mean you should forget about raking the leaves and mowing.  Keep those leaves raked and give your lawn the TLC it needs to look great. Patch any brown spouts, and water the lawn as long as possible to keep it green and vibrant.
2. Plant fall flowers
   Once lawn maintenance is handled, add a splash of color to your landscape by planting fall flowers.  Some of the best fall flowers include vibrant mums, yellow marigolds, sedum, or goldenrod.  You can also place fall flowers in pots near your front door along with a few pumpkins as accents.
3. Highlight the front door
   Calling attention to your front door is a good selling tactic no matter what season when you're selling your house.  Your front door is like an invitation to your home. Hang a fall wreath for added color and a festive touch.  A fresh coat of paint in a vivid color can make your entrance stand out.
4. Tidy up the exterior
   During the fall, your home becomes more exposed making its exterior appearance even more important.  Before listing your home for sale, pressure wash your siding, sidewalks, and walkways.  Clean the windows.  Apply a fresh coat of paint as needed.
5. Clear out the gutters
   Being diligent about home maintenance tells buyers you care about your home's upkeep.  Keeping your gutters and downspouts clear from leaves and debris protects your home from water damage and ups the ante for curb appeal.
6. Invest in outdoor lighting
   Days get shorter during the fall.  Exterior light adds a touch of elegance and sophistication to your landscape and improves safety. Illuminate your walkways, front door, and important landscaping elements so the home shines no matter when people drive by.
7. Keep outdoor decorations simple
   A simple fall wreath on the door and seasonal flowers make your home look inviting to potential homebuyers.  However, scarecrows and spooky Halloween decorations may "scare off" homebuyers and distract them from the gorgeous exterior you've worked so hard to otherwise create.

Shreveport, LA – October 5, 2022 – Erika Wysong has joined Coldwell Banker Gosslee - the #1 Real Estate firm in Northwest Louisiana. Wysong's expansive and diverse background in sales, marketing, public relations, facility management and community involvement serves her well in this new role.

Wysong is a 27-year veteran of the hospitality and facility management industry in Northwest Louisiana. Most recently, she was the General Manager of the Shreveport Convention Center and Shreveport Municipal Auditorium (managed by ASM Global). She also previously served as the Director of Sales & Marketing for the Convention Center and Municipal Auditorium. Prior to joining ASM Global, Wysong's professional experience includes various other public relations, community relations, sales and marketing positions at Harrah's Entertainment/Horseshoe Gaming and Harrah's Louisiana Downs, and she has worked tirelessly to promote the Shreveport-Bossier area as a destination during her career. With a Bachelor of Arts in Communications and Public Relations from Louisiana State University in Shreveport, Wysong has strong ties to the market, and has been instrumental in attracting and negotiating with top-tier talent such as Bob Dylan, Tyler Perry's "Madea", Jerry Seinfeld, Cole Swindell, Harry Connick Jr., Luke Combs and Dancing with the Stars to name a few.

Erika has served on many local boards and has participated in many community events throughout her years in this area. She lives in Stonewall, La with her husband Walter Scott Wysong IV, along with her two sons Alex and Conner Roberts and their dog Sadie.

"I truly believe that my vast business experience will enhance my ability as a new Realtor® in our market. I will provide exemplary service to my clients and always negotiate to get them the best deal possible. I am honored and excited to join such an incredible team such as Coldwell Banker Gosslee," says Wysong.   

You may contact Erika at (318) 207-7203 or email at wysongrealty@gmail.com

To find out how Coldwell Banker Gosslee has remained #1 for the 29th straight year, go to cbgosslee.com.

Closing Costs That Might Surprise You

Selling your home soon? As you look at your finances and list your home, it's probably tempting to focus on your potential earnings. However, every real estate transaction comes with closing costs for the buyer and the seller.

You probably already know you're responsible for the agents' commissions, but what about the rest of your closing costs?

Before selling your home, make sure you understand all the closing costs you'll be expected to cover. Here are some common costs that may surprise you:  

1. Pro-Rated Property Taxes
   You're responsible for all property taxes up to the date of the sale. That means if you're selling in July, you need to pay your property tax for the first seven months of the year — not wait until next year to file. Make sure you're aware of the final number because you must provide this to the buyers. This is required because buyers will get a bill next year for the whole year, including the months you still owned the home.
   
   
2. Transfer Taxes and Fees
   Real estate transactions are essentially title transfers from one owner to another. Before your sale is complete, you must pay state and county or city fees in order to process this transfer. You may also need to pay transfer taxes. While most sellers are aware that it costs money to transfer a title, many are surprised by the final percentage, which can fluctuate wildly depending on your location. Make sure you're aware of the local requirement beforehand.
   
   
3. Title Insurance
   If you think buyers are always responsible for buying a title insurance policy, think again. Many states now require sellers to cover the new homeowner's title insurance policy. This coverage is designed to protect the mortgage lender from any future claims, and they won't approve the transaction without it. Find out now if you will be responsible for the buyer's title insurance coverage.
   
   
4. Home Preparations
   Staging a home for market success is about more than just cleaning thoroughly and rearranging the furniture. Your real estate agent will know which services are the most valuable, especially to sellers who want to ask for more money or sell more quickly. For example, renting a storage unit will make it much easier to clear out a third of your clutter and personal possessions, leaving a more neutral and walkable space for potential buyers. Carpet cleaning, painting, lawn care, and professional photography services are also important investments for serious sellers.

Of course, your final closing costs before selling your home will depend on a lot of different factors. From zip code and loan terms to the buyers' willingness to negotiate, these factors will help you figure out just how much to set aside for closing. Understand your responsibilities and prepare yourself for every possible expense.

Moving In? 9 Ways to Feel More at Home

Buying a house is one of the happiest feelings of your adult life. Although this exciting time will have you grinning from ear to ear, your first few nights in your new place can feel a little weird — almost as if you're staying at a hotel or friend's home. When you're moving in after buying a house, use these ten tips to make it feel more like home right away.

Hang Photos & Mementos
One of the fastest ways to feel at home after buying a house is to immediately hang up photographs, mementos, and other personal items. Seeing your family portraits on the walls or your décor of our favorite sports team hanging in the living room will make the space truly feel like your own.

Unpack Everything
As long as you have boxes sitting around your house, you won't 100 percent feel at home. Unpack as much as you can as fast as you can while making sure to stay organized and orderly, so you don't create a larger mess.

Let Your Children Decorate
If your children are having trouble getting comfortable in this new space, let them call the shots when it comes to setting up the house. Allow them to unpack and decorate their own rooms.

Engage All Five Senses
Feeling at home after buying a house requires engaging all five senses. Turn on your favorite music while you unpack and make sure you have plenty of natural light streaming in. Bake cookies, light candles or bring in fresh flowers to fill the space with pleasant smells. As you unpack, make sure you're wearing comfortable clothing. Don't forget to buy a few of your favorite foods to snack on while you work!

Create Comfortable Spaces
After you've unpacked, make sure you set up specific spaces to cater to your comfort. Purchase new pillows for your couches or soft sheets for your bedroom, where you can snuggle up and get comfortable in your new home.

Clean, Clean, Clean
When buying a house, it should be relatively clean when you move in, but don't underestimate the power of a deep clean. Once you give the home a thorough cleaning from top to bottom, you'll feel more comfortable in the space.

Get Rid of Old Items
Buying a house is a perfect time to say out with the old and in with the new. Take this opportunity to sell, donate, or throw away old items that you didn't love in your previous home, such as clothing, furniture, and décor. 

Decorate for the Holidays
Though it may not be high on your priority list, decorating for the upcoming holiday is a great way to feel more at home after buying a house. Whether it's the winter holidays or even the 4th of July or Valentine's Day, it is a perfect opportunity to create new family traditions. 

Relax!
Take a load off! Buying a house is a huge project, and you deserve some time to enjoy all of your hard work. Settle in, kick back, and relax, knowing that you've finally found your dream home.

After buying a house, you may not feel at home right away. This is a normal feeling that will disappear as you finish unpacking and get back into your normal daily routine.

8 Reasons Why Real Estate is the Best Investment

Real estate has long been considered a solid investment for many reasons. It is a relatively safe and easy way for people to build wealth beginning with a small amount of money. If you are interested in investing in real estate, I'd be happy to help you find the right properties.

Here are some of the ways investing in property can help you build an investment portfolio.

1. Real estate investments can provide you with a reliable and steady cash flow. Investing in rental properties is relatively easy as expenses are predictable and if your properties remain occupied you know what to expect in terms of profit margin.

2. Real estate appreciates in value. Real estate consistently appreciates, even during economic downturns, making it one of the more reliable investments. On average, real estate in the US appreciates between 3-5% annually.

3. Real estate investments help you retire. If you have been paying on your mortgage throughout your working years, you will experience greater cash flow as you near the end of your mortgage term and the principal is paid off.

4. Real estate sales are taxed at a lower rate than other income. When you sell your property, you are taxed short- or long-term capital gains which are usually lower than income tax brackets.

5. Real estate equity can be leveraged. One of the most attractive reasons for investing in real estate is the ability to leverage your money. When you take out a mortgage to purchase property you reduce the amount of capital required. As you build up equity in the property, you borrow against the equity or refinance the original loan, freeing up cash to buy another property.

6. You have control to improve upon your asset. Unlike an investment in stock, where you have no control over how it performs, you can improve upon your real estate investment. Updating or upgrading systems, finishes, appliances, and landscaping helps build value in your investment.

7. Real estate gains taxes can be deferred. Under the 1031 exchange tax code, you can invest the gains from the sale in one property to the purchase of another property without paying taxes on the gains.

8. Real estate investments are depreciable. This is confusing, but you can legally claim a depreciation expense on an investment property even though the value of your investment property is actually appreciating. The depreciation deduction allows investors to generate a higher cash flow while reporting a lower income for tax purposes.

Ready to start building your real estate portfolio? Call us today!

Bossier City Office 318-747-5411

Shreveport Office 318-861-2461

Pros and Cons of Selling During the Holidays

If you are thinking about listing your home this fall, you might be concerned about showing it, and possibly having to move, over the holiday season. The holidays are already a busy time of year for most families, so you would be right to wonder if you are making a good decision by marketing your home between Thanksgiving and New Year's Day. Some sellers even take their homes off the market temporarily during the holiday season, but, before you make that choice, consider all the pros and cons to selling during this festive time of year.

Pros:

1. Buyers are serious. Buyers looking for a home during the holiday season are usually serious about getting under contract, or else they'd put it off. Often, they are starting a new job at the beginning of the year, or they want to get their children registered in school by the end of the holiday break, or maybe they want the tax break in the current year. Regardless of their reasons, if they are out looking in November or December, they are serious buyers.

2. There are not as many homes on the market. As a seller, you benefit from having fewer homes on the market to compete with. Less inventory combined with serious buyers means sellers get higher offers.

3. You can take advantage of holiday season curb appeal. While it's recommended that you not over-decorate while showing your home, you can take advantage of the warm and festive vibes that holiday decorations add. Some white twinkle lights, a wreath on the door, and poinsettias lining your porch can add just the right cozy and inviting feel to win over buyers.

4. Cooler weather may invigorate buyers. The only thing worse than house hunting in the dead of summer is moving and unpacking in the dead of summer. On the other hand, the cooler temperatures of the holiday season may fuel buyers' desire to get out on the hunt.

5. You can use a holiday theme to ramp up an open house. Instead of offering the same old plate of cookies and bottled water, let your prospective buyers feel the warmth of your home with a cup of hot chocolate and warm gingerbread in front of the fireplace, or let them wander through your rooms listening to holiday music and enjoying the scent of pine or cinnamon candles.

Cons:

1. You won't have as many lookers. We noted that buyers shopping during the holidays are serious ones, but there will definitely be fewer buyers looking than later in the New Year.

2. Showing your home may be more inconvenient. Again, it's a busy time of year for most families, so do consider the inconvenience of having showings while you are preparing for the holidays or enjoying time off from school or work.

3. Business closings may slow down transactions. Many businesses have shortened hours or holiday closings, which means you or your buyers might have delays with such things as scheduling inspections and appraisals, clearing title or escrow payments, or getting repairs completed.

Ready to sell your home today? Our experiences agents can guide you through the holiday hustle and bustle. Just give us a call!

Bossier City Office 318-747-5411

Shreveport Office 318-861-2461

BUYER RETREAT AT THE LOWER END
By Brad Gosslee, President, Coldwell Banker Gosslee

I'm a numbers guy. I always have been since my days at Byrd High School. I used to love when my dad Jimmy, who headed our company for many, many years, came home and talked about what was occurring with buyers and sellers – everything from the number of sales to home price increases.

I'm really lucky that my dad is still very visible in our company and we often talk about the real estate markets of today vs. yesterday. I believe our company, and are agents, are extremely well prepared for the market shift we are seeing today, largely because in our company's 60-year history and through the nearly 30-straight years of leading the Northwest Louisiana real estate market, we have lived through quite a few market shifts.

Our agents have the benefit of years of experience and understand that each market brings different buyer and seller behaviors. This knowledge is showing itself in the educated conversations we are having with our clients – and potential clients - today.

We are being proactive and transparent, sharing what is occurring today. Prior to July, our local real estate market remained in an overheated state. But in such a short time, we have seen things shift quickly, especially at the lower end of the market.

Yes, the real estate market story is now all about mortgage rates. Specifically, the rise of a 30-year fixed rate mortgage to near the 6% range that has caused many to abandon their search for a home.

The rise in mortgage rates is hitting especially hard for those looking to purchase homes at the $200,000 price point and below. This makes a lot of sense. Not including fees or other payments tied to a loan, when rates were 3.0% late in 2021 and into 2022, a monthly payment on a $200,000 home was $843. At 6%, this payment jumps to $1,199. Therefore, we can understand that unfortunately there will be some unable to afford that jump.

This shows in the number of area home sales. We are down 16% year-over-year in the $100,000-and-under category and 23% in the next highest bracket.

Last August, there were 542 homes sold in Bossier, Caddo and Desoto Parishes compared to 417 last month. This was dramatically below the five-year August average of 487. Along with July, this marks the first two months since COVID hit that we have seen home sales lag behind a month's 5-year average.

And while we are now down 11% in overall sales for all of 2022, we are still on pace for this to be the second greatest sales year ever in Northwest Louisiana. Our decline is not as severe as what the National Association of Realtors recently shared for the entire nation which is off 19.9% in sales to an annualized rate of 4.8 million.

The below chart for all of 2022 shows, the retreat is not as pronounced at the higher levels. Again, this makes sense. While those with larger incomes may not be happy with higher rates, they seemingly are able to be able to afford a higher monthly payment.

Let's look a bit closer into just August sales to see exactly where the high mortgage rates are having an impact. As you can see, overall there were 30 fewer sales last month compared to a typical August (2018). But the market was off by 75 in the below $200,000 range. Yet in every other price point, we are dramatically higher, a theme that has repeatedly played out since the pandemic began.

It will be interesting to watch how this plays out. We would expect that if there are fewer sales at the lower end of the market, that could create a lack of move-up buyers into the mid-range and above, and the higher price points might see a decline.

There is another thing that usually happens when market corrections like this occur. The number of homes on the market will rise. We are starting to see this happen, although we still have a long way to go to get back to traditional inventory levels. Yes, we have jumped from a record-low 667 available homes back in April to 1,032 today, but our monthly supply is still incredibly low at just 2.2 months overall. It was 5.4 months prior to COVID which was a solidly balanced market where neither buyer nor seller had a negotiating advantage.

Today, we remain in a seller's market – still far from the 5–6-month supply that equals balance in Northwest Louisiana. Remember, our inventory is much lower than what NAR shared about the nation overall where there are currently 1.28 million homes on the market which equates to a 3.2-month supply. It was 2.6 months last August.

Based on the below chart, it appears that while our inventory is rising, the demand – even if it is lower – is still strong enough. Homes that come on the market are still selling quickly. A year ago, homes were selling in an unheard of eight days. Today, we have jumped to 12 days, which is still off-the-charts low.

Nationally, 81% of homes that sold in August come off the market within 30 days with most doing so in 16 days, one day more than a year ago. Here is a full look at how we compare to the national scene.

I brought a new set of stats into the blog last month and want to revisit the updated Fannie Mae Home Purchase Sentiment Index (HPSI). Every month since 2010, Fannie Mae showcases what buyers think about buying and sellers about selling.

It's interesting that buyers believe that rising interest rates benefit them as the HPSI shows an uptick in positive responses on the "Good Time to Buy" column. That suggests surveyed potential buyers think that if rates rise and some retreat, that will slow the pace of the market, reduce multiple bids on a home and therefore greater opportunity.

Sellers were not as thrilled with the market changes as August showed the least confidence among potential sellers this year. Obviously, there is disappointment that we have moved from the top of the market:

While market stats give insight into our local housing market, it is important to remember that people will always buy homes. While COVID allowed many to leave urban centers for more affordable surroundings and others "moved up," we may enter a more traditional market where people move because of life events – engagement, marriage, children, promotions, new jobs, and other moments.

Therefore, I want to provide some suggestions to both buyers and sellers:

• Sellers: You remain in the negotiating driver's seat. While you may have missed the absolute top of the market, prices remain strong. You likely have seen your home equity increase dramatically over the course of owning your home. Homes that are priced right and in good condition are selling at a strong pace. We are also seeing the list-to-price ratio remain at 98% meaning that they are selling within 2% of the list price. Clearly, sellers and their agents are choosing the correct listing price that buyers can meet. If we see that number drift down quickly, that might indicate an unexpectedly fast shifting market.

Sellers are benefitting in an interesting way in today's market when they enter the buying phase. In many markets around the nation, the inventory levels are increasing at a swifter pace than here, giving buyers more options than they had months ago. Our agents are helping connect many sellers – and potential sellers – to great agents in their next destination so that they can get questions answered.

• Buyers: I encourage you not to panic because of the rising mortgage rates. Not only will our agents provide you excellent counsel and represent you well, but they can also help answer your mortgage questions and connect you to a great mortgage professional including those at Fairway Mortgage. Remember, there are different ways to finance your home outside of the rising 30-year-fixed rate mortgage. This lending option was great when rates were at historically-low levels and you could lock in for years to come. But in other years, in other markets, buyers turned to other types of loans. And that is what is occurring today.

It's also important to remember that home prices will likely not return to pre-pandemic levels. Instead, the rate of increase will slow from the double-digit price gains we had over the last couple of years to more traditional numbers.

I want to close this month's blog by encouraging ALL who are considering buying or selling a home today to start the process by talking to one of our Coldwell Banker Gosslee agents. While there is a lot of information available today, no national site or news outlet can properly explain what is happening here. Our agents are incredibly skilled at knowing what is happening community-by-community and neighborhood-by-neighborhood.

If you want to get even more insight, you can click here to get our Coldwell Banker Gosslee August 2022 Monthly Market Report.

Please reach out to one of our agents or feel free to reach out to me at bgosslee@cbgosslee.com.