Laura Harbison Team
If you are thinking of selling your home, you may be feeling unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting a very negative picture. Contrary to those headlines, prices aren’t in a freefall. The latest data tells a very different (and much more positive) story.
If we take a look at the year-over-year data, home prices stayed positive – they just appreciated more slowly than they did at the peak of the pandemic.
In the first half of 2022, home prices were climbing, and they peaked in June. Then, in July, home prices started to decline slightly. By roughly August or September, the trend began to stabilize. As we look at the most recent data for the early part of 2023, we see a recent rebound in momentum with prices ticking back up. Monthly changes in home prices are gaining steam, slowly but surely, as we move into the busier spring season.
Sellers: If you’ve been holding off on selling because you’ve been worried about what was happening with home prices and how it would impact the value of your home, it may be time to jump back in. You don’t have to put your needs on hold any longer because the latest data shows a turn in your favor.
Buyers: If you’ve been waiting to buy because you didn’t want to purchase something that would decrease in value, you now have the peace of mind things are going in the right direction. Buying now lets you get into the market before home prices climb more and gives you the chance to own an asset that typically grows in value over time.
If you put off your plans to move because you were worried about home prices falling, data shows the worst is already behind us and prices are actually rising now. Call me today if you would like more information - I’m here to help!
Laura Harbison, ABR, AHWD, BPOR, BS, CDPE, CRS, DRB, GRI, PSA, RSPS, SRES
Broker/Owner REALTY EXECUTIVES SOUTHERN NEVADA PROPERTIES
License Numbers B.0026537LLC PM.0164922.BKR
Solar panels have become more popular than ever! With more affordable installation and material costs, many people are installing solar panels on their homes. It might be worth considering if you want to offset some of your energy costs.
The Ease of Installation
Solar panels still require expert installation, but the process has become much more straightforward. A good installation technician will be able to walk you through the process so that you understand the pros and cons of your investment.
Solar Panel Placement
You will want to consider the placement of your home with respect to sun exposure. South-facing homes are ideal, but other positions can also work depending on the slope and direction of your roof. The shade from tree cover may also play a part in the placement.
Return on Investment
The average return on investment (ROI) for solar panels in the United States is roughly 10%. The ROI isn’t the same as the payback period. That’s part of it, but the rate of return and the cost savings for energy should also be factored into the decision.
Rebates and Tax Credits
For solar power systems installed between 2022 and 2032, tax credits are 30%. You must meet certain residential requirements, so check with your tax accountant before signing a contract to learn more. You can also review the federal guidelines for more details.
Purchase? Lease? Power Purchase Agreement? Or?
There are many types and structures of "Solar Agreements" and you really need to understand what you are agreeing to before signing on the dotted line... I often find when assisting clients with the sale or purchase of a home with solar panels that they don't know what type of contract they have signed - it is VERY important to understand the options, and to understand the terms of your agreement. You will need to know what type of agreement it is, what is and is not included in the price, warranty & maintenance information, and more.
Need help?
I will be happy to answer any questions that I can, and to direct you to trustworthy experts for any questions that I can't answer (people who aren't just looking to sell you something...). I'm here to assist you with all of your real estate needs!
Laura Harbison, ABR, AHWD, BPOR, BS, CDPE, CRS, DRB, GRI, PSA, RSPS, SRES
Broker/Owner REALTY EXECUTIVES SOUTHERN NEVADA PROPERTIES
License Numbers B.0026537LLC PM.0164922.BKR
During the pandemic, second homes became increasingly popular - largely because of the rise in work-from-home flexibility. It also allowed people to go on “vacation” safely, having their own private getaway. Owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or to enjoy different home features. And a luxury home isn't necessarily defined by price -other characteristics such as location, a view, or specific features and/or upgrades may put it in this category … the things that make the home itself feel luxurious.
What if you own a second home that you no longer use? If you are seeing your priorities and needs changing, you may find you're not utilizing your second home as much. Right now is a great time to sell it! And if you own what's considered a ‘luxury home’, buyer demand for it may be even greater. (Homes with unique features are selling very well in today’s market). There are buyers in the market who are looking for a home like yours today.
Let's connect to explore the benefits of selling your second home this year. My office is open seven days a week for your convenience, and I’m looking forward to speaking with you.
Laura Harbison, ABR, AHWD, BPOR, BS, CDPE, CRS, DRB, GRI, PSA, RSPS, SRES
Broker/Owner REALTY EXECUTIVES SOUTHERN NEVADA PROPERTIES
License Numbers B.0026537LLC PM.0164922.BKR
If you're thinking about buying a home, you're likely trying to juggle your needs, current mortgage rates, home prices, your schedule, and more when considering your decision.
If this sounds like you, here's one key factor that could help you with your decision: there are more homes for sale today than there were at this time last year. Having more options for your home search may be exactly what you need to feel confident about making a move.
The primary reason the supply of available homes for sale has grown is because homes are staying on the market a bit longer. That's happening because higher interest rates and home prices have helped moderate buyer demand, which has slowed down the rate at which homes are selling. And, as the pace of sales has slowed, inventory has grown as a result.
While overall inventory gains may slow down this winter due to typical housing market seasonality, you still have a chance to capitalize on the current supply. There is usually a good number of homes that go on the market right after the holidays as well - so this may be perfect timing for you!
Regardless of the source, the increase in available housing supply is good for buyers. More homes available for sale means you have more options to choose from as you search for your next home, and you may also have more time to consider them.
So, if you tried to buy a home last year and lost out in a bidding war or just couldn't find something you liked, this may be the news you've been waiting for. If you start your search today, those additional options should make it less difficult to find the right home for you!
Just remember, housing supply is still relatively low overall, so it won't suddenly be easy – it will just be less challenging than it was at this time last year. The increase in housing supply helps put you in a great position to find your dream home in the New Year.
If you're ready to jump into the housing market and see what's available, let's connect. My office is open 7 days a week for your convenience, and my team is ready to go to work for you!
Laura Harbison, ABR, AHWD, BPOR, BS, CDPE, CRS, DRB, GRI, PSA, RSPS, SRES
Broker/Owner REALTY EXECUTIVES SOUTHERN NEVADA PROPERTIES
License Numbers B.0026537LLC PM.0164922.BKR
If you’re approaching age 65, statistics show that you’ll need assisted living or nursing care soon. And though there are numerous options on how you will live out your golden years, these odds are enough to warrant at least considering the possibility of eventual long-term care. The more information you have before this time comes, the better.
To help you make an informed decision, we’ve put together a list of pros and cons of residential custodial care and what you can do to prolong your independence. But first, let’s look at the options for paying for long-term care.
Paying for Senior Care
If you’ve yet to make a plan for the future, it’s never too late. And fortunately, if you already have an existing life insurance policy, you may be able to cover the cost of your own care without further burdening your family.
Life insurance is an asset that can be utilized for more than just a death benefit. Selling your life insurance policy is a relatively simple process that can help you get cash immediately, and often in a larger lump sum than the policy’s surrender value.
Other care funding options include personal savings, retirement accounts, and, if you have an income that meets poverty guidelines, Medicaid.
Now that we’ve covered the costs associated with long-term care, let’s look at the pros and cons of assisted living and other options.
Pro -- Assisted living offers help with the activities of daily living.
Assisted living facilities offer their residents help with meal preparation, medication management, transportation, housekeeping, and much more.
Con -- It’s expensive.
The average cost for assisted living in Nevada is $3,750, which is much more than most seniors bring in via Social Security. It’s important to note that assisted living is less expensive than in-home care in some situations.
Pro -- Assisted living offers an opportunity to socialize with peers.
Isolation is dangerous for seniors, and if you live alone, you are more likely to suffer from depression and all the issues relating to it.
Con -- Staff turnover rates are high.
The average turnover rate for assisted living staff is 50 percent annually. This means you may not enjoy long-term companionship or care from the same workers.
Pro -- Assisted living relieves stress on caregivers.
Caring for someone with significant needs can put a strain on the family. Assisted living and skilled nursing care facilities ensure these needs are met.
Con -- Assisted living may not provide 24/7 skilled nursing care.
If you require day-and-night supervision due to a medical issue, then you’ll be better off in a skilled nursing facility where you can get the care you need.
Prolonging your independence
No one has a crystal ball to see into the future. However, there are things you can do in the present that will give you a better chance at maintaining your independence and living in your own home. This starts at the dinner table.
Eating a variety of healthy foods and turning your back on boxed and bagged store shelf products gives your body the vitamins and minerals it needs to stay healthy. Stock up on healthy snacks like apples and nuts and avoid unhealthy options like chips and candy bars. You should also consume a healthy breakfast that can give you the energy needed to face the day. Exercise and mental stimulation can also go a long way toward keeping your mind and body strong and healthy. The AARP has an extensive library on the subject of senior longevity.
If you’re in danger of falling or injuring yourself in your current home, you can prolong your independence by finding an accessible home. When searching for homes, pay close attention to the accessibility features that are already built into the home. Ideally, you should be looking for features like wide doorways, ramps, and control panels that can be easily reached from a seated position. Additionally, you should assess your own abilities and limitations when determining what type of home would work best for you. Peruse real estate listings online and filter for accessibility to see what’s available in your area.
Whether you think independent living or assisted living is right for you, take the time to research the drawbacks and benefits of each. By understanding these options, along with knowing how you’ll pay for long-term care, you’re placing yourself in a position of power and reducing the financial and emotional burden on your family. If you’re planning on living independently, make sure to prioritize your nutrition and find an accessible home.
If you’re a senior looking for a more accessible home, realtor Laura Harbison can help. Call (702) 777-1234 to get your search started!
Article reposted with permission from Eldersday.org
Laura Harbison, ABR, AHWD, BPOR, BS, CDPE, CRS, DRB, GRI, PSA, RSPS, SRES
Broker/Owner REALTY EXECUTIVES SOUTHERN NEVADA PROPERTIES
License Numbers B.0026537LLC PM.0164922.BKR
