Earlier this year, we expanded our team to better serve buyers that are looking to purchase and renovate a new space into their dream home. By offering a full-service experience, clients feel more supported throughout the purchase and financing stage and, of course, the design and renovation! Today, we help lots of families navigate the offer stage and make renovation and design decisions on the forefront of relocations! This helps our clients really prioritize what’s important and find the perfect space to support their family’s lifestyle.
The Shades that never go out
We’re glad you’re here!
Our blog is back and back with the utmost intention! Market updates, design, renovation, how-to’s, favorite products…name it, we’ve got you! By combining the knowledge, passion and expertise of our team members, we’re excited to provide our readers (you!) with alllll the intentional tid bits to help you create the lifestyle you’ve always dreamed of. More real, more lifestyle, more personality, more authentic value. That’s our promise.
As seasons change, so does a desire for fresh chapters. I don’t know about you, but we love a fall drive here in the midwest. Looking at the changing trees and dreaming of the beautiful homes that pass by. “What if transformed my home into the spaces I dream of on my Pinterest board?!” “What if we sold and started fresh?”
Imagining new spaces and We put together a market update for those wondering about the current state of the market, interest rates, and renovation loan options (OK, the less than fun parts to make your dreams a reality in this new season, but important too!)…
"But more often than not, the neutral option provides the understated elegance that allows you to express yourself in a more authentic way. A neutral palette often lets you be you!“
Mortgage interest rates have been steadily rising throughout 2022 and rate movement has become the new normal with the Federal Reserve continuing their fight against inflation.
I’m Vanessa Keyes, Vice President of Mortgage Lending at Guaranteed Rate. You will see me more around here as I am combining my expertise and passion for design. A little perspective can help here. Though the national average 30-year fixed rate is now around 5.50 – 5.875%*, a homebuyer is not “married” to their interest rate for thirty years. “With higher rates, we are consulting with our clients on different ways to approach their home affordability. The positive news is that data is showing market competition has cooled down towards the end of the summer, offering buyers the opportunity to not always compete with multiple offers and over list price.”
Here are a few options to consider while shopping for your dream home
- Review Different Loan Programs: Based on how long you plan to be in the home, review Adjustable-Rate Mortgage (ARM) options. ARMs are generally fixed for 5, 7, or 10 years, giving you security for the initial period with the option to refinance before the adjustment period.
- Lock in your Rate while you Shop: With Vanessa’s Lock N’ Roll program, your rate can be locked in before you find the home or while you build or renovate.
- Renovate or Relocate?: With home values at an all time high and inventory still very low, you have options to renovate your home or a fixer upper you are looking at purchasing! A Home Equity Line of Credit (HELOC) or Cash-out refinance allows you to tap into your home equity, while a HomeStyle Renovation or 203k loan can be used for construction.
For more buying and renovation tips, reach out to the BZS team!