Southeastern Connecticut and Westerly Rhode Island Community Realtor Bridget Morrissey

 

MEOW Who else thinks their cat owns the home

 

Your Community Realtor bridgetmorrissey.com

 

Your Community Realtor serving your housing needs in Southeastern Connecticut and Southern Rhode Island

 

Happy Holidays Dance to the Music

Vrbo vacation homes designed for dogs

 Short-term rental company Vrbo says it has seen a 40% increase in demand for pet-friendly vacation homes on its platform. With so many Americans showing interest in their pets, Vrbo has launched vacation homes designed for dogs.

https://magazine.realtor/daily-news/2021/12/06/vrbo-targets-pet-lovers-with-vacation-doghouses

December is here! Happy holidays!

The first priority when starting a home search

There's no need to wait – get started on your home search today with Pre-Approval: the Best Opening Play to Make as a Homebuyer. This important first step will give you an edge in the market and help you avoid any surprises down the road. 

So how does it work? Just apply for pre-approval with one of our trusted lenders, and they'll do a check of your credit score, debt-to-income ratio, and assets. Within moments, you'll be able to start browsing homes that fit your budget – and you can even lock in a great interest rate while you're at it! 

Freddie Mac says “The pre-approval letter from your lender tells you the maximum amount you are qualified to borrow. Getting a pre-approval letter is not a loan guarantee, it simply states how much your lender is willing to lend you.”

They go on to say “This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”

Don't wait any longer – make Pre-Approval your Best Opening Play!

A Too Small House Does Have Some Benefits

 

You might have been raised to believe that bigger is better, but there are incredible benefits of making a smaller purchase. Maybe you've lived in a giant house for years and never noticed how much it costs each month, or the advantages of living with less space. 

In this book Aaron Nelson will show you the many ways small can be beautiful--and that standing in an overpriced American McMansion isn't worth it when your children still don't want to clean their rooms. And in order to help others "go small," he'll show them where they can do so without breaking the bank! This helpful guide will lead readers from renting tiny houses from quirky landlords who love creativity, to buying affordable houses on land parcels close-in proximity to city centers.

Small houses are incredibly affordable. What might you miss out on by always looking for the least expensive option? Brain scans show that people are less happy in bigger houses, with higher prices tags. You save more money each month than most people will ever earn at their job or find that they need during retirement. 

You may find yourself accumulating new friends and enjoying an overall sense of simplicity—a mental state of ease and simplicity grasped through decluttering, minimalizing one’s possessions, and living in a smaller home.

Sure, there were some downsides—like not being able to host BBQs for all of our friends or take after-work trips without feeling guilty about leaving whoever ended up watching the kids—but who even have those kinds of friends anymore? 

And with a place this small, everything looks newer—even though we're just old enough that it wouldn't matter if anything got dirty! Natural wood furniture is so easy to maintain because it won't be stained by dirt or liquids of any kind unless there's complete submersion involved! Great-looking products can be made with real solid wood--no exceptions! 

Now that you know how much money we actually saved by living in a smaller space, do you think maybe moving again is worth it?

Expect more home sales this winter

We are excited to share with you new findings from a survey of over 300 potential home sellers. America's housing market is on the upswing, and more people than ever are looking to sell their homes this winter. 

The good news is that many have already started preparing for the process by taking stock of their finances, securing a pre-approval loan, and researching what they can expect in terms of costs. 

With just under half of all respondents saying that they plan to list within 6 months or less, it's important to know that the majority have done their homework ahead of time so they're not caught off guard when it comes time to make decisions about where and how much they'll be spending on repairs or renovations before listing their home for sale.

George Ratiu, Manager of Economic Research for realtor.com, said:

“The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority of prospective sellers are actively preparing to enter the market this winter.”

65% of prospective sellers plan to enter the market this winter. This is up from 58% last year and 54% in 2016. What could be driving these numbers? Some believe it's because they are waiting for prices to rise before they put their home on the market; others say it is the overall increase in demand.

Whether you're looking for a starter home or your dream house, now is a great time to explore what's out there in your desired location!

Prices are still increasing but at a slower pace. Buy your dream home now before price and interest rates get too high!

3 Reasons why you should research getting your VA loan now

1. Borrowers who are using a VA Loan can purchase homes without putting down any money. In 2020, 350,000 individuals utilized this type of loan to make their dream come true and buy the house they always wanted!
2. The VA loan is a low-down payment option for veterans. It doesn't require Private Mortgage Insurance, which means they can save on their monthly housing costs and enjoy the benefits of owning property in America without paying more than necessary with taxpayer money!
3. The best loan for you is one that suits you, so take a look at what's available. While many loans have similar features and terms it's important to find out which ones are backed by the VA (Veterans Administration). These come with great benefits like lower interest rates than conventional lenders can offer!

 As the Veterans Administration says of the program:

“The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service. . . .”

You sacrificed so much and deserve to achieve the American Dream: Homeownership! We can help veterans do just that by ensuring they know about all of their benefits with VA loans, such as low-down payments or interest rates on mortgages over 25 years depending upon disability status at time application is submitted. Thank you for your service.

https://www.bridgetmorrissey.com/2021/11/11/3-reasons-why-you-should-research-getting-your-va-loan-now/

American home equity gains result in dream home purchases

In the wake of a recent pandemic, Americans have been cashing in on their homes' increased value. Cash-out refinancing is up 33% from last year and it is clear that this trend will continue as more people cash out to make some extra money during these hard economic times.

Property values in America are on fire, and this year's pandemic seems to have fueled an even greater appreciation. The low rates on mortgages have also made it easier for home owners. Those who were previously unable to purchase property because of high interest rates before are now being able to do so, said Dan Roccato with Credible Financial Analysts. "A record number of people are now home owners thanks to rock-bottom mortgage rates."

The Fannie Mae forecast predicts that home prices will slow down in 2022 after reaching an all-time high 18% increase from 2021 levels. This is much faster than previous years' gains, which ranged anywhere between 5 to 11%.

The prediction was made after reports came out stating how hot housing markets were becoming around the country. Low inventory numbers and interest rates being at historic lows for an extended period of time contribute to the hot market.

When a neighbor sells their house at an eye-popping price, it increases the value of surrounding properties even if they’re not for sale. This is because lenders require appraisers to weigh recent sales based on so called comparable sales - meaning similar homes within proximity that went through recently in order to come up with fair market values. The result is your home appreciates in value as your neighborhood does.

Have you had a comparable market analysis done for your home? You may be surprised to find out how much equity you have in your property. It could be time to sell and move up to your dream home!

6 Home upgrades to boost a property value

If you want to sell your house fast, then it's important that you keep the following tips in mind:

When you are looking to sell your house, there is a lot that goes into making it look perfect. It needs to be clean and in good condition. There should also be the right colors on the walls. However, one thing that many sellers forget is that their home needs to have what buyers want these days too! There are some things that might not seem like they would make much of a difference but actually do! Here are three items every buyer wants in a home: 

1. Make sure your exterior is well-maintained. Buyers are looking for houses with curb appeal so make sure yours has it! 

2. Use neutral colors throughout the interior of your house to avoid scaring away buyers who may not be interested in bold color schemes or patterns on their walls and furniture. 

3. Keep an open floor plan by removing bulky pieces of furniture like bookshelves and armoires from common areas like living rooms, dining rooms, and kitchens. This allows buyers to see how spacious these spaces really are.

It is important to know what buyers want. If your house doesn't have these features, potential buyers will immediately lose interest and move on to another listing. They don't think about whether or not they actually need the feature; they just see that it's not there and go elsewhere. Contact an experienced Realtor like Bridget Morrissey for more information about some of the most desirable features when buying a new home. 

Mystic Seaport Trivia from Bridget Morrissey

 

There are six principle neighborhoods in North Stonington

There are six principle neighborhoods in North Stonington:
1. Pendleton Hill (RT 49) 
2. Clarks Falls
3. Kingswood
4. Cedarcrest
5. Laurel Glen
6. North Stonington Village

https://www.bridgetmorrissey.com/

12 Smart Home Devices

Here are 12 Smart Home Devices that will help sell your home!

1. Smart Speakers – Need a personal assistant at home? Ask it questions, schedule reminders and a lot more!

2. Smart Plugs – Sync a smart plug with your smart phone to turn on or off any plug-in devices remotely.

3. Smart Locks – Forget your keys? No problem! Use a code to get in or unlock your door from your smart phone.

4. Smart Switches – Forget to turn the light off? Turn lights on or off from your smartphone with a smart switch.

5. Smart Bulbs – Want to add some color to your room? Smart bulbs can adjust to any color and brightness from your smartphone.

6. Smart Doorbell – Find out who rang your doorbell or stole your Amazon package with a smart doorbell.

7. DIY Home Security – Monitor your home from your smart phone. If someone breaks in you will find out immediately!

8. Smart Appliances – Smart appliances such as refrigerators, washers, dryers and stoves tend to be more energy efficient.

9. Smart Thermostats – control the temperature of your home from your smartphone to help lower your electric bill.

10. Heated Floors – Keep your feet nice and warm during the winter with heated floors!

11. Smart Toilets – The #1 way to go #1 or #2 and to conserve water.

12. Smart Curtains – Open your blinds without getting out of bed using your smartphone!

Ice Build-Up and Frozen Gutters

When the weather is cooler than cool, it can turn ice cold. Unfortunately, this can lead to a lot of ice on and around your home. There are few things that can make you lose your chill faster in the winter than ice-related falls or damage to your home. Excessive ice build-up can create a number of potentially dangerous situations during the winter, so knowing what causes it (and more importantly, how to prevent it) is an important part of staying safe as temperatures drop.

There are a few different ways that ice can build up during the winter. The most basic ice buildup is just a thin layer of ice that covers large portions of the house, sometimes accompanied with snow or other precipitation. This usually isn’t that big of a deal. Of greater concern are large icicles, sheets of ice and snow that build up on the roof, frozen gutters and built up ice at the edge of the roof known as an ice dam. These can be dangerous in several ways, both to you and to your house.

Frozen Gutters

When ice freezes in your gutters, it places extra strain on the screws or clips holding the gutters in place. Overflow can result in icicles hanging from the gutters, and if the buildup gets too heavy it can actually pull the gutters away from your roof. This is particularly dangerous because that heavy ice can then fall to the ground… bringing part of your gutter with it.

Ice Dams

If a portion of your roof becomes warm enough to melt some of the snow and ice on top of it, an ice dam can form. That melted snow or ice will trickle down the roof as water, reaching the eaves or gutter and encountering much colder materials where it will freeze again. This process continues until there is a buildup of ice at the very edge of the roof, with liquid water attempting to flow underneath it. The ice can overflow onto your gutters, while the water forces its way under shingles and possibly through other materials until it freezes and expands. The longer the ice dam continues this process, the thicker it becomes and the more damage it can do.

Other Forms of Ice

Ice sheets and icicles also present dangers during the winter. Icicles form when liquid water gradually drips at the same spot over time, freezing more and more until it grows large enough to potentially break free and fall to the ground. Ice sheets form similarly to ice dams, but instead of melting entirely the heat of the roof only melts a small portion of the ice sitting on it. The remaining ice is able to shift under its own weight due to the thin layer of water underneath it, and in some cases may slide down the roof and fall to the ground.

Removing Ice Build-Up

Care should be taken when trying to remove any form of ice build-up. Don’t use any sharp implement as it can damage your roof, gutters or walls. Instead, tap away at the ice with a blunt mallet or pole. Work in small sections, making sure that there is someone with you to brace your ladder in case the ice shifts. Apply a calcium chloride ice melter to the ice beforehand, if possible, to melt as much of it as you can (but don’t use rock salt or other chemicals that can damage your home.) Take every precaution you can before you start trying to remove the ice, because even when you’re prepared, it can be dangerous.

Preventing Build-Up

To prevent ice build-up, work on improving ventilation in your attic to ensure even heating and consult an energy efficiency expert to see if there are other steps you can take. Use a snow rake to remove snow and ice buildup from the roof before it can become a problem, and clean your gutters thoroughly before winter weather sets in. If you have a continuing problem with build-up, you might also consider replacing some or all of your existing roof with a standing-seam metal roof with a water-repellant membrane underneath it.

Seven things to know about home generators

There’s little more frightening than losing your electricity in the middle of a big winter storm in the Mystic to Westerly Area. Whatever natural disaster is common in your area, you have probably experienced at least one major disaster in your life. Because of that, you may tend to linger around the generators at your favorite home improvement store when bad weather season starts.

Is this the year you’ll finally install a whole-home generator? Before you swipe that card, take a look at these must-know things about choosing a whole home generator.

A Generator Can Be An Investment In Your Home

You probably know that in some areas you can get tax credits for installing efficient whole-home generators, but what you may not realize is that a permanently installed generator can also increase your home’s value. According to Consumer Reports, a three to five percent increase in appraised value after a generator is installed isn’t uncommon.                                                                                          

But, you can’t just stick any old generator in the yard and call it a home improvement. The generator you choose will be part of your home’s electrical system for the foreseeable future, so it has to be able to do the job you need it to do. Here are seven things to keep in mind while you’re shopping:

1. Generators are far from universal in size. You should make a list of the items you intend to keep turned on while you’re running on generator power before you start to shop. Appliances, HVAC systems, hot water heaters and even light bulbs add up when you’re talking about an entire home. Although your appliances may differ in their power consumption, in general, refrigerators use about 600 watts of electricity, your lights can soak up to 600 watts, even your computer may need 300 watts to stay running.                                                                                                                                                    
2. Portable generators can be an inexpensive alternative. If you’re only hoping to keep a few lights on and maybe a small refrigerator running during a power outage, you might be able to limp along with a portable generator. These smaller units can be loud and require lots of manual intervention, including refilling their fuel tanks multiple times during prolonged use, but can push out 3,000 to 8,500 watts reliably for under $1,000.                                                                                                                                                   
3. Generators run on different types of fuel. Those portable generators almost exclusively run on either gasoline or kerosine, though some can be converted to run on propane or natural gas with a special kit. A whole house generator connects to a gas line by default, be that propane or natural gas. Depending on where you live and what your utility supplies, you’ll want to choose one that matches your fuel supply. If you live in a rural area, you may have to rely on your propane tank to run your generator, keep it full through the toughest weather of the year.                                                                                                                                                           
4. Regular maintenance on generators includes running them frequently throughout the year to ensure that there isn’t an unplanned problem when an emergency does crop up. Some whole home generators have an automatic maintenance cycle, allowing you to ignore them most of the time. However, these auto-run cycles can be very noisy, so you’ll want to consider the decibel level of the generator you choose.                                                                                                                                                 
5. You’ll need a transfer switch, but there are several options. Transfer switches are electrical devices that allow you to change the power source that runs your home from the utility grid to your home generator. There are many different types, rated both by amps and switching type. Manual switches are less expensive, but require you to make the connection in all kinds of weather, automatic switches will flip on the generator when they detect a lack of power from the grid.                                                                                                                                             
6. Older homes may need electrical panel upgrades. Even homes that aren’t considered antiques can have very limited electrical systems that aren’t compatible with a large transfer switch. If you want to use, say, a 200 amp transfer switch and your house will only support 100 amps, either your system needs to be upgraded or your generator transfer switch will need to be downgraded.                                                                                                                                     
7. It needs to be installed by a professional. There are people who have installed their own whole home generators, but because of local building codes and the general difficulty of the project, this is not something that’s generally encouraged. You’ll be tapping into gas lines, electrical systems and you’ll need to place the unit a very specific distance from combustible materials and above areas that may flood.                                                                              

Don’t Spend One More Season Without Power

Storms can blow in fast and ice will bring powerlines to the ground, but you don’t have to worry with a whole home generator that’s properly sized for your house and carefully installed. You never know who might come out when you have the guy working for the home improvement store do the job, but when you ask for a referral from your HomeKeepr community, you can be assured that you’re getting the best.