Your REALTOR:
Vickie Gallimore
May 2022
Real


How to Deal with Rising Rent
Rent prices are soaring for both houses and apartments. Single-family home rental prices are at an all-time high, having gone up an average of 7.8% in 2021. Of all the markets across the U.S., nearly 98% saw recorded price increases for one-bedrooms. All markets had increased for two bedrooms.
      One-bedroom rents were up 24.4% nationwide, and two-bedroom rent prices were up 21.8%.
     
      In January 2022, according to Redfin, the median home price went up 14% year-over-year, which is part of why rent prices are similarly going up. A lot of people are being priced out of buying a home, yet renting a home is proving to be
MORTGAGE RATES
U.S. averages as of May 2022:


30 yr. fixed: 5.1%
15 yr. fixed: 4.4%
5/1 yr. adj: 3.78%






to be just as challenging.
      Along with high home prices affecting the rent prices, there were low vacancies, inflated costs of construction, and just enormous
houseWondering What Your Home Is Worth?

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What to Expect When You Close on a House
     Buying a house is one of the biggest things you might do in your life.
      The final step in the process is typically the closing. Once you reach this point, it can be a relief because you’re through the arduous underwriting process, but what should you expect when you’re closing on a house?
      The closing date is usually decided during the contract negotiation. It’ll be listed on your purchase agreement. A seller accepts your offer, the earnest money is paid, and then, at some point you’ll have your closing.
      A closing date can be weeks or months after the formal acceptance of your offer, depending on how much time is needed to complete the deal. Being prepared can speed up the



How to Have a Consistently Clean Home
     Whether your house is on the market and you’re preparing for showings, or you just like to have a home that feels clean and tidy, it’s a lot of work. Keeping a home consistently clean can feel like a full-time job, particularly when you have a family.
     
      If you’ve ever been to someone’s house and felt like it’s always clean and you’ve wondered their secret, they probably have a few, including the following.
      Stop the Marathon Cleaning Sessions What a lot of us do that makes us feel like we’re never going to be able to keep up with household chores is putting them all off and trying to do everything at once. For example, maybe clutter piles up all week, and then Saturday, you tackle it.
      That’s fine, but you could develop a negative relationship with cleaning because it’s always frustrating to tackle such a big

Preparing for an Unexpected Home Emergency Expense
     When you’re a homeowner, one of your challenges is dealing with the unexpected. Unlike being a renter, you’re responsible for dealing with emergencies and repairs when you own a home. It can be costly, time-consuming, and stressful.
      When you buy a new home, the risk of emergency repairs may be lower. On the other hand, older homes can need quite a bit of upkeep.
     
      An emergency home repair always seems to come along at the worst time.
      For example, you might not think much about your roof until there’s an issue. The same is true of major systems like your furnace or air conditioning.
      According to Nerdwallet, 65% of American homeowners say their house needs repairs to make it free of damage or safe. Cost is the primary barrier to making needed repairs.
      A study from Porch found the national average cost to maintain a home is a little over $16,000, including both repairs and routine tasks. Discover advises budgeting 1% of the value of your home for maintenance every


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Vickie Gallimore, REALTOR
E-mail: vickie@vickiegallimore.com
Website: http://www.vickiegallimore.com
336-953-9500
RE/MAX Central Realty
336-626-5600
231 S. Fayetteville Street
Asheboro, NC 27203


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