Check out our November newsletter!
NOVEMBER 2023
ME LV I N ’ S MON T H LY MOMENT S
205-223-6192 www.MelvinUpchurchSells.com
HOME VALUES ON THE RISE The Bright Side of the Current Market
Melvies happen in December, so time is running out to be considered for one of these prestigious awards! If you buy or sell a home, refer someone to me, or leave us a five-star review, you could qualify for a Melvie! Don’t miss out on this lifetime achievement!
Melvin, how is the real estate market?
It is the best of times — home values are up about 3% in our market over last year. It is the worst of times — as I write this, mortgage rates are at 7.31% , which is the highest they have been since December of 2000. The number of homes sold locally and nationally is down about 20% from last year. The number of existing homes sold this year in the U.S. is projected to be 4.3 million. That is the lowest since 2011. In 2021, we sold 6.12 million homes nationwide. The increase in mortgage rates has led to this dramatic drop in available inventory. Seventy percent of Americans have a mortgage rate of less than 4%. Sellers do not want to trade their low mortgage rate for a 7% or higher rate now, so they are opting to hold off on placing their homes on the market. While the rise in interest rates has created a sharp drop in the supply of available homes, it has had the opposite effect on pricing, primarily because there has not been a corresponding drop in demand. We had an inventory shortage before the rise in interest rates. Millions of homebuyers are looking for a home with insufficient inventory to satisfy the demand. It is estimated that we have an inventory shortage of about 3.8 million homes (3.8 million more buyers than sellers). This demand for homes will continue to grow as we enter 2024. The U.S. generates about 1 million new households per year. Also, millennials are now the largest generation of our population and are just now hitting their prime years for buying a home. Melvin, what does the future hold? Trying to “time the market” in real estate or the stock market is never a good idea. If your hesitation is high mortgage rates, remember the average mortgage rate for the past 50 years has been 7%. It is unlikely we will ever see mortgage rates in the 2%–4% range in our lifetimes. Home values are going to continue to rise. It is a great time to buy a house and join that rising ship. It is hard to predict when mortgage rates will drop, but they will come down. If you buy a home now, you can always refinance later.
One last thought — if you are going to sell, remember the LIST Flat fee model has helped over 1,200 sellers. Currently, my average seller saves over $10,000 in commission — now that’s a perk!
Jan - Sept Median Price Home 2023
2022
Change
Homewood
$469,000 $460,000 -1.92% $485,000 $487,500 0.52% $800,022 $872,450 9.05% $450,000 $475,000 5.56% $387,500 $405,500 4.65% $435,000 $455,230 4.65% $310,000 $319,900 3.19% $340,000 $325,000 -4.41% $459,565 $475,073 3.37% $383,500 $407,100 6.15%
Vestavia
Mt. Brook
Hoover High School Spain Park High School Oak Mtn High School
Birmingham*
Helena
Birmingham Market Avg
National Avg
*Birmingham: Avondale, Crestwood, Highland Pk, Forest Pk, Downtown Bham, Southside, Crestline Park
30 Year Mortgage Rates
2022
2023
January 1 March 31
3.11% 6.48% 4.67% 6.27% 5.30% 6.69% 6.67% 7.31%
June 30
September 30
–Melvin Upchurch
• 1 www.MelvinUpchurchSells.com
Say Goodbye to Chronic Clutter
Brick Painting vs. Staining:
USE THE CORE 4 METHOD TO TRANSFORM YOUR HOME!
If you’ve attempted Marie Kondo’s famous “spark joy” approach to decluttering but still have too much stuff, you might want to try the CORE 4 Method designed by professional organizer Kayleen Kelly. Kelly specializes in tackling “chronic clutter” and designs her techniques to work for everyone , including people who are neurodivergent. Her CORE 4 Method has earned her millions of online fans because it includes just four steps anyone can follow to purge clutter! Here’s how it works. Step 1: Clear Out — First, choose one room of your home to work on. Then, grab a trash bag and several sturdy boxes. Use the bag to collect trash like food wrappers or broken items you never got around to repairing. Then, look for things that belong in other rooms of your home and toss them into the boxes, using a different box for each room. If you’re working in your office, for example, move extra sweaters to your bedroom box and the spare hammer to your garage box. Then, put the boxes in their corresponding rooms to deal with later. Step 2: Categorize — Sort everything left in your room into categories. In your bedroom, you might have one pile for clothes, one for shoes, and another for hobby items. Step 3: Cut Out — Assess the storage in your room and use that space to calculate how many items you can keep from each category. For example, if you have a category of books, figure out how many will fit on your bookshelf. That’s how many books you can keep! Then, choose a category and go through it item by item. Kelly recommends using the “3 Second Rule”: Give yourself three seconds to decide if each item is a “Yes’’ or a “No,” and consider anything you hesitate on a “Yes.” Repeat this cycle until you have the right number of items in each category. Step 4: Contain — Stash each category of items in its designated storage space. Kelly suggests keeping “like” items together and ensuring your regularly used things are easy to access. These four steps can help you tackle even the most cluttered spaces. With help from a few friends, you can organize an entire room in a single day!
Which DIY Method Is Right for You?
Historical home lovers cringe at the thought of painting or staining original brick, but there’s no shame in it! In fact, it’s one of the easiest ways to give your home a facelift. However, deciding to refresh your brick facade or fireplace comes with a question: Should you paint or stain? Painting vs. Staining Painting or staining brick is very similar to painting or staining wood. Paint will sit on the brick’s surface and transform it with a bold, solid color. Stain will sink into brick and act more like a tint, adjusting the color to a lesser degree. Brick painting hides flaws like discoloration and crumbling, while staining lets the brick’s original texture show through, imperfections included. If you paint your brick, you can choose from a rainbow of colors — everything from neon green to lavender is on the table! Brick stains are more muted but still come in various shades, including light blue, warm yellow, gray, brown, and charcoal. The Application Process With either method, you need to clean your brick first. For indoor areas, spray the brick with a 1:1 mixture of water and vinegar, let it sit, and scrub it clean. Experts recommend power washing outdoor bricks. If you paint, you should prime the surface with masonry primer or use a 2-in-1 paint. Whether you paint or stain, you’ll need to apply multiple coats to achieve your ideal shade. Some bricks absorb stain more easily than others, and bricks that are sealed or painted won’t stain at all. You can test this by spraying water on your bricks. If the water sinks in, they’ll absorb stain! Whether you plan to paint or stain, a paint sprayer will deliver the fastest, easiest application. If you don’t own one, try renting from your local hardware store!
Pro Tip: Dampness on your bricks can prevent paint from sticking, so let them dry completely before painting.
The Maintenance Painted bricks can flake or peel easily, so experts recommend repainting them every 3–5 years. Brick stain, however, doesn’t need regular retouching. While costs of paint and stain vary, this difference in upkeep makes brick staining the more affordable option. Good luck, and happy renovating!
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Gutter Guards: WHAT YOU SHOULD KNOW BEFORE BUYING
It doesn’t take much for your home’s gutters to clog. Whether a rainstorm washes debris down your roof or tree foliage sprouts inside your gutters, you may find yourself cleaning them out regularly. If not, clogged drains can lead to a host of issues, including water damage, sagging gutters, and even flooding. Gutter guards come in different shapes and sizes, but the primary purpose of these tools is to catch the residue and grime that falls off your roof to keep your gutters unclogged and functional. While gutter guards seem like a simple solution, they can also be another headache. But the benefits might outweigh the hassle. Benefits to Consider It’s easy to see why homeowners should consider gutter guards. Your gutters must be blockage-free to stream water away from your home effectively. Yet, aside from keeping your gutters unclogged, these helpful guards can also ensure: • Fewer gutter cleanups: Spend less time unclogging your gutters since your gutter guards are catching most of the debris. • Insect infestation prevention: Wet foliage and stagnant water can be breeding grounds for mosquitoes and other insects. When your gutters are clear, this won’t be a problem! • Delay in gutter rusting or erosion: With less water blocked in your gutters, you can increase the lifespan and minimize the need to replace rusted or eroded gutters.
• Freeze and ice dam prevention: The sun can melt snow and ice that drips into your gutters before re-freezing and causing a blockage. Guards can help ensure that water is constantly flowing away from your home. Some of the Drawbacks The main drawback to remember is that no gutter guard is a one-stop solution. They will in no way allow you to stop cleaning your gutters. Even with gutter guards, you must check and clean your gutters regularly. These guards won’t catch everything, and clogging can still occur with them in place. Cleaning your gutters with guards can also become more time-consuming than without them. While you will need to maintain and clean your gutter guards, they are still helpful in minimizing blockage and debris from damaging your gutters. Whether gutter guards suit your home and schedule is up to you!
Everything- Seasoned Dinner Rolls
TAKE A BREAK
Inspired by RealSimple.com
No need to make rolls from scratch this season. Instead, dress up store- bought rolls with delicious everything bagel seasoning!
Ingredients
• Cooking spray • 20 frozen dinner rolls • 2 tbsp unsalted butter
• 1 tbsp honey • 2 tbsp everything bagel seasoning
Directions
1. Coat a 13x9-inch baking pan with cooking spray and arrange frozen rolls in the pan to thaw according to package instructions. 2. Preheat oven to 350 F. Then, melt butter and honey together in the microwave or on the stove. Once the rolls thaw, brush butter mixture over the rolls and sprinkle seasoning on top. Bake for 15–20 minutes, or until golden, and serve these tasty rolls straight out of the oven!
• 3 www.MelvinUpchurchSells.com
205-223-6192 www.MelvinUpchurchSells.com 300 UNION HILL DR., STE. 200 BIRMINGHAM, AL 35209
PRST STD US POSTAGE PAID BOISE, ID PERMIT 411
INSIDE
1
A Closer Look at Home Sales and Inventory
2
Brick Revamp: To Paint or Stain?
Tackle Clutter With the CORE 4 Method
3
Are Gutter Guards Worth the Investment?
Everything-Seasoned Dinner Rolls
4
Easy and Affordable: Transform a Pumpkin Into a Centerpiece!
IMPRESS YOUR GUESTS WITH A DIY PUMPKIN CENTERPIECE
Are you hosting Thanksgiving this year? Here’s an easy and affordable way to wow your guests: Turn a pumpkin into a centerpiece in just four steps! 1. Choose a vase. Look for one with a flared top and narrower base that can hold the ideal size of floral arrangement for your table. 2. Purchase a pumpkin. Make sure the pumpkin is roughly the same height as your vase or a little bit taller. 3. Cut a hole in the top of your pumpkin and hollow out the inside. The hole should be big enough for the thickest part of our vase to fit through. After hollowing, drop the vase inside. Its rim should line up with the hole you carved.
4. Fill the vase with fall foliage. You can gather leafy branches, twigs, pine boughs, and pine cones outside or purchase fake ones! Stick to a fall color scheme of browns, reds, oranges, and yellows, or find items that match your table linens. Have fun and be creative!
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