RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

How Paint Colors Impact Sale Price

June 28, 2016 12:45 am

There are numerous factors that impact a buyer’s decision to make an offer on a home. One of those is color—a feature that may be positively or negatively received by buyers.

A recent Zillow Digs® analysis found that listings with kitchens painted soft shades of yellow sold for more $1,360 more than anticipated. Generally, listings with rooms painted in earthy hues garnered up to $1,300 more than expected at sale, according to the analysis.

Colors to avoid, the analysis found, include slate gray, terracotta, and—contrary to popular belief—white. Generally, listings with rooms painted in dark or white shades sold below expectations.

Specific findings include:

Wheat Yellow Kitchen – $1,360 more
Eggshell/Off-White Kitchen – $82 less

Beige/Oatmeal Bathroom – $283 more
Dark Brown Bathroom – $469 less

Eggplant/Lavender/Mauve Dining Room – $1,122 more
Slate Gray Dining Room – $1,112 less

Dove/Light Gray Living Room – $1,104 more
Terracotta Living Room – $793 less

Khaki/Light Green Bedroom – $1,332 more
Dark Brown Bedroom – $236 less

“A fresh coat of paint is an easy and affordable way to improve a home's appearance before listing,” said Svenja Gudell, Zillow’s chief economist, in a statement. “However, to get the biggest bang for your buck, stick with colors that have mass appeal so you attract as many potential buyers to your listing as possible. Warm neutrals like yellow or light gray are stylish and clean, signaling that the home is well cared for, or that previous owners had an eye for design that may translate to other areas within the house.”

The analysis assessed approximately 50,000 sold homes from across the nation.

Source: Zillow

Published with permission from RISMedia.


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Mortgage Rates Slow to Rise

June 27, 2016 2:42 am

Fixed mortgage rates, on average, remain low. According to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®), the average 30-year fixed-rate mortgage (FRM) is 3.56 percent, with an average 0.6 point, and the average 15-year FRM is 2.83 percent, with an average 0.5 point. The average 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) is 2.74 percent, which an average 0.5 point.

Why so low? Mortgage rates are gradually responding to recent fiscal developments, says Sean Becketti, chief economist of Freddie Mac.

“Mortgage rates have been slow to adjust to the 10-year Treasury yield, which has increased 12 basis points since [the week of June 6, 2016],” Becketti said in a statement. “[Last week’s] survey shows the 30-year fixed-rate inching up to 3.56 percent, only two basis points above last week’s average. The low rates continue to be good news for the housing market, as existing-home sales rose 1.8 percent to a 5.53 million seasonally-adjusted annual rate in the month of May—the highest level since February 2007.”

Source: Freddie Mac

Published with permission from RISMedia.


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