Barbados is a small island in the Caribbean with well-developed infrastructure and a stable political and economic system. It has some of the most beautiful beaches in the world, not to mention the epic diving, shopping, delicious local cuisine, and all the fun and flavor of island life. But there's one more important, and brand-new, reason to love Barbados. You can now get a 12-month visa to work there remotely. "Even as the pandemic continues to rage, the government of Barbados, a country in the eastern Caribbean, is sending a very different message: Come here, not just for a holiday, but for up to a year. Bring your laptop," said the Washington Post."
Prime Minister Mia Amor Mottley introduced the 12-month Barbados Welcome Stamp "to allow visitors the option to work remotely from Barbados for a year at a time," according to Barbados Government Information Service. The program is designed to attract remote workers earning more than $50,000 a year in an effort to boost the country's tourist-dependent economy. The program has, unsurprisingly, sparked global interest. A tropical island is, after all, SLIGHTLY more inviting than your hastily-thrown-together home office, even to those who know little about Barbados. Though the coronavirus has disrupted many aspects of our work lives, it may end up accelerating some trends--like working remotely. Gallup polling of Americans conducted this spring found that 62 percent said they had worked remotely at some point by April, an increase from 31 percent in mid-March. That big spike might seem temporary, but according to that same poll, in 2015, 3.9 million U.S. workers were working remotely. Today that number is at 4.7 million, or 3.4% of the population. Remote work is trending up, and as more workers get accustomed to the flexibility, it may end up being a trend that sticks around. Whether you want to buy or sell a home locally or globally, I can help you finding or selling your home so you can create the life you love! ☎️ 706.530.1114
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Mortgage rates are near all-time lows right now, but that doesn’t mean they’ll stay that way forever.
That’s where a rate lock can come in. Rate locks guarantee you a certain mortgage rate for an extended period, protecting you from the possibility of rising interest rates while you complete the homebuying process. Are you shopping for a home? Here’s what you need to know about mortgage rate locks: Q: What is a rate lock? A: A rate lock guarantees your initially quoted mortgage rate for an extended period of time. Your rate can’t rise at any point during your lock period (even if market rates rise), giving you plenty of time to close the loan. Q: How long does it last? A: The length of a rate lock depends, though it’s usually 30, 60 or 90 days. In some cases, you may be able to pay for a longer lock period if you need more time. Q: Why would you want to lock your rate? A: Rate locks are smart if interest rates are very low or fluctuating. They’re also a good move if you have a unique situation — like being self-employed — and it could take a bit longer to close your loan. Q: Are there any risks? A: In the event market rates drop, there’s a chance your locked-in rate could be higher than what newer applicants are being quoted. You can pay for a “float down” option when you lock, which essentially means you’d get the lower market rate if they do fall. Do you have more questions about rates or the home buying process? Are you ready to sort out your home financing? Get in touch so we can discuss your options. I can help! Iveth Caruso, your REALTOR in the North Atlanta Area Whether you're planning to sell or refinance, a home appraisal is a necessary step in determining the true value of your home. This means your home should be in the best possible condition, so it will be appraised at the highest potential value. While it may be tempting to swing for the fences with big-ticket renovations, there are smaller things you can do to efficiently raise the market value of your home. Start Small with a Little Spackle If you've lived in your home for any length of time, you've probably hung things on the walls, put up shelves, or simply had accidents that resulted in minor damage. Now is the time to repair those blemishes. Filling these holes and crevices with a little spackle and painting over the area will leave your walls looking like new. While this may not boost the value of your home, it will keep the appraiser from deducting for the damage. As Long as You're Painting... After you've touched up your walls, you might want to consider freshening up the paint. Repainting worn trim and moldings around the home can give it a fresh look. Venture outside and touch up the trim around the windows and doors too. This will boost curb appeal and help you add value to the home. Any area where the paint is peeling, chipping, or simply has lost its luster should be retouched with a fresh coat. Update Your Crawl Spaces An upgrade that's growing in popularity (and will grow your home value) is crawl space encapsulation. Crawl spaces are essential for providing homeowners and contractors with access to important systems of the home. However, these spaces are vulnerable to moisture and water damage caused by humidity and harsh weather conditions. In drier climates, dust and insects can interfere with HVAC systems. To protect crawl spaces, homeowners have started sealing these spaces with polyethylene barriers to keep out moisture, dust, and pests. Do a Deep Clean This is also the time to really clean your home from top to bottom. If you have young children and pets, there may be odors and damage that might not be noticeable to you, but strong odors and scuffed hardwood floors will be the first things your appraiser notices. Consider hiring professionals to wax the floors, shampoo the carpets, and conduct an intensive cleaning of the entire home. Conduct Other Repairs At some point, you should tour your home with the mindset of a home buyer. This will help you identify problems that you live with every day but just don't notice anymore. Look for things that need to be repaired, such as a loose handrail, a leaky faucet, or a shorted electrical outlet. Repairing these problems ahead of time will ensure you won't lose money on the appraisal. By taking the time to spruce up the home ahead of the appraisal, you may be able to increase the value by thousands of dollars. The suggestions offered here should give you a head start, but if you have additional questions on how to add more value to your home, don't hesitate to reach out me. Real Estate Alert: Home Flipping Hits 14-Year High
While the real estate market in general is adapting to new challenges and market conditions, one segment of the market is going strong. Home flipping is boasting its best numbers in 14 years. The newly released first-quarter 2020 U.S. Home Flipping Report from ATTOM Data Solutions shows that "53,705 single-family homes and condominiums in the United States were flipped in the first quarter. That number represented 7.5 percent of all home sales in the nation during the quarter, up from 6.3 percent in the fourth quarter of 2019 and from 7.3 percent in the first quarter of last year." Those are the highest numbers since the second quarter of 2006. The gross profit for home flips across the country also rose over the same time period, to $62,300. "That was up slightly from $62,000 in the fourth quarter of 2019 and from $60,675 in the first quarter of last year," the report said. If you're looking to get in on the flipping trend, here are a few insights:
A lot has changed in just a few months, and for many that includes the idea of what a 'dream home' looks like. Not long ago, buyers were showing preference toward smaller homes and open concept spaces conducive to gathering. After a few months cooped up inside, those features don't seem so appealing - and developers have taken note. "While the coronavirus still rages on, it's hard to predict what post-pandemic abodes might look like," according to Barrons. "Yet, developers around the U.S. are already rethinking projects, anticipating residents' needs and preferences that Covid-19 would spur. In doing so, they are re-evaluating current in-unit aesthetics and in-demand amenities." Here are just a few areas of home design where trends may shift in the coming years:
Home size Homes had been trending smaller, but that may be over. With so many families spending (way) more time around the home lately, there's never been more need for personal space. Expect homes to grow in size accordingly. Prioritizing the home office As more and more businesses relax work-from-home policies, or shift to full-time remote work entirely, the home office will become a near-essential for many buyers. A space that was once an after-thought now will need to offer privacy, good lighting and be pre-wired for telecommuting. Return to the closed-floor plan For some buyers, the appeal of the open-floor plan was already trending down prior to 2020, and the past few months have only made the reasons why more evident. Sharing more time and space at home demands privacy for school work, hobbies, and entertainment. With more meals being cooked at home, an open concept kitchen becomes noisy epicenter practically all day long. Builders expect a rise in demand for closed floor plans, where rooms are partitioned for purpose. Smart technology This is already one of the fastest growing trends in home design, but smart home technology will soon move from a 'plus' to a 'must'. Temperature and lighting control can now be voice or motion-activated. Touchless faucets, once thought superfluous, are now an inexpensive and health-conscious upgrade. Systems that filter air and monitor air quality will become more common and affordable. Summer is here! The sun is blazing, the temperatures are soaring and the rain is pounding. It’s important that you take the time to maintain your biggest investment this summer and prepare it for the extreme heat.
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