Life @ Home eNewsletter: September 2022 [Buyers]

by Bob Patel



SEPTEMBER 2022 \| WHAT’S IN THIS ISSUE? » At long last, is the tide turning in favor of home buyers? » Want a friendlier neighborhood? Consider adding a front yard patio » Which college towns have the best tailgating?



At long last, is the tide turning in favor of home buyers? Planning to look for a new home sometime soon? After two years of a robust seller’s market, the tide is turning in the buyer’s favor. Caveat: These trends may or may not apply to your region, but these indicators are showing up in the housing market at large. Bidding wars are down If you find a place you love, you have a much better chance of finding breathing room at the offer table. For the first time since the start of the pandemic, bidding wars dipped below 50% of housing sales, according to Redfin. While some properties are receiving multiple offers, there are many great homes that are not, which can only help. Housing inventory is up If you’re hoping to find a great place in a specific location or neighborhood, you may be in luck. In June 2022, the number of available properties rose 2%, which is the first increase since July 2019. At the same time, home sales are down 16%, suggesting the competition for available homes has cooled. Home costs? Well, also up Another thing to prepare for is a higher house payment. Property values continue to appreciate, but the rate of growth is starting slow. At the same time, interest rates have elevated by two percentage points since the start of the year.



Want a friendlier neighborhood? Consider adding a front yard patio Taking the party out front is a great way to invite neighbors to stop and chat for a spell. Instead of retreating into the backyard, create outdoor living space out front. Just like a Southern front porch minus the construction costs! Here are the elements to create your sweet space. Comfortable seating: A pair of patio chairs creates an instant conversation corner. Add a side table to hold cold drinks and snacks and you’re set! Lay the foundation: All you need is a small space for a patio, which leaves room in the budget for pretty artisanal blocks to create that Old World look. Lighting: Invest in patio and landscape lighting. As dusk sets in, experiment with placement to find the perfect arrangement. Lanterns, candles and Tiki torches can also set the mood. Flora: Strategic landscaping will make your front yard patio complete. If the yard doesn’t have trees, set up an arbor to make shade. Fragrant flowers and pretty potted containers will also make your space like none other in the neighborhood!



Which college towns have the best tailgating? Which college towns have the best tailgating? LSU — Baton Rouge, Louisiana University of South Carolina — Columbia, South Carolina University of Mississippi — Oxford, Mississippi North Dakota State University — Fargo, North Dakota University of Tennessee — Knoxville, Tennessee Source: Insider.com