Blank Canvas vs. A Life Well Lived vs. An Aspirational Life

Blank Canvas vs. A Life Well Lived  vs. An Aspirational Life
Written by: Compass Chief Evangelist - Leonard Steinberg

The recent Los Angeles fire devastation has inadvertently gifted us everywhere a renewed appreciation for HOME: the tragic images of people sifting through the burned ashes of their memories is brutally painful. It serves as another reminder that homes are not merely walls, roofs, space, etc. They are the canvas of our lives, our own 'masterpiece'.....

We as real estate marketers are often confronted with a seller where there are ultimately just three options in how we present their home to the outside world/markets upon resale or renting:

1.  We can clear out all furnishings and traces of the 'current/past life' and showcase a blank canvas, possibly whited out to leave everything else to the imagination of the viewer.

2.  We can leave things exactly as they are, or moderately modified, cleaned up or simplified that showcases the life of those who have lived in the home. Sometimes when it's ELLE DECOR Editorial-worthy, tidy and beautiful, this can be invaluable. However, even some exquisitely designed homes may just appeal to a very small audience.

3.  We can paint, renovate, stage, etc to showcase an aspirational life, one that inspires to a better, more beautiful environment that we dream of as we scroll Pinterest and other media that broadcasts beautiful homes. When YOU spend a lot of money are you looking to improve your life? Most are.

Research shows that a small minority of people have really, really good imagination, anywhere from 5-10% of the population. Which may answer the question as to what might be the best approach. The cost of staging (as well as the cost of living elsewhere while this happens) has to be weighed up against the benefits one might achieve in:

1. The transaction price.

2. The cost of time.

There is a difference between decorating a home and presenting a home for sale, one being significantly more personal and the other designed to appeal to a wide audience. Agents know the difference and can direct their clients accordingly.

TUESDAY's TIP: Interest ONLY loans!!

TUESDAY's TIP: Interest ONLY loans!!

Interest only loans - The Myth, The Facts and The Legend.

All info is provided by Lysa Griffith, OriginPoint
Regional Manager/SVP of Mortgage Lending, NMLS ID: 754386

In response to the 2007 - 2008 mortgage meltdown, one of the casualties was the interest only loan. Interest only loans were originally designed as cash flow tools for higher net worth clients and were not necessarily "bad" loans, but their reputation got tangled up with that of riskier loan programs.

 The loan products that truly contributed to the mortgage meltdown were negatively amortizing loans where banks offered loans with a teaser interest rate to start which was below the note rate. 

Buyers could make a minimum payment for a limited period of time that was less than the interest only payment and allow the loan balance to grow. Once the loan balance reached 125% of its original value, the loan would reset, and the payment would increase to a fully amortized payment at the full note rate at the higher loan amount. 

 These loans were super attractive in the beginning, and then a definite cold plunge when reality set-in and the payment jumped up.

Fast forward and lenders offer amazing interest only loans. Today's interest only loans do not negatively amortize and are generally stable loans that give homebuyers control over cash flow. In addition to lower monthly payments, one of the best benefits is that if you pay additional amounts towards principle, the monthly mortgage payment resets automatically the next month.

The new interest only loans feature: 

• Fixed rate options for the entire term - no surprises

• Interest only for the first 10 yrs

• Amortizes after year 10 and if it's a fixed rate, you now have a fixed rate program

• There are also 40 yr terms available – so after the interest only term (yr 10), you roll into a 30 yr fixed

 Advantages of this program: 

• Lower monthly payments – at times quite significant

• Ability to pay down the loan and the next payment reflects the reduced balance

Call us today to see what we can do for you!

Luxury Trends | January 2025

A Billionaire Built a Cliffside Version of Versailles "Perched above La Jolla Bay, billionaire Darwin Deason’s ornate mansion isn’t so much a California beach house as a cliffside Palace of Versailles. The Sandcastle, as it is locally known, has become a local curiosity with its carved stone columns, elaborate balconies and private elevated beach."

Read the Article

SPOTLIGHT Discover the Gift of N°33 Park Row Whether you’re searching for high-end dining, exclusive shopping, or cozy spots to unwind, the surrounding neighborhood boasts an array of experiences that perfectly complement the lifestyle at N°33 Park Row. READ MORE

LIFESTYLE Artistic Abodes Revel in the beauty of art-forward homes that push the boundaries of design, where every detail is a masterpiece, transforming everyday living into an immersive and elevated experience. EXPLORE

MIAMI BEACH, FL A generational opportunity to purchase on Miami Beach's most coveted guard-gated Star Island. View Property>> LOS ANGELES, CA Artfully designed with a harmonious triangular layout, featuring three expansive wings. View Property>> MIDTOWN CENTRAL, NY Extraordinary & rare opportunity to purchase two full floor apartments with a private hallway to create a duplex. View Property>> LENOX HILL, NY Duplex apartment with terraces, unobstructed views, and exceptional light located in the heart of one of NY's most distinguished neighborhoods. View Property>> KENWOOD, CA With over five acres of land, including approximately three acres of planted vineyards, this property is a dream. View Property>> NOHO, NY Perched atop one of NYC's most coveted addresses, Penthouse West is a meticulously designed, never-lived-in, museum-quality home. View Property>>

View All Luxury Properties

Chris Doucet Founding Partner in Seattle M: 206.819.4663 chris.doucet@compass.com

PROPERTIES EDITORIAL PUBLICATIONS PRESS

LUXURYATCOMPASS.COM

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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January 8th King County Market Watch NW | Chris Doucet

Reflecting traditional holiday seasonality, active listings in King County have dipped slightly compared to the previous week, while pending and sold listings have increased. The median active price has held steady, but the median sale price has softened slightly as days on market have grown. Notably, there was a significant 182.7% surge in new listings week-over-week, signaling strong motivation from sellers eager to start the new year. Contact me today to set up a consultation in person or virtually to learn more about market conditions, Compass Concierge, and how I can leverage our nationwide network to source buyers to sell your home for more money.

Chris Doucet Founding Partner in Seattle M: 206.819.4663 chris.doucet@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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December 11th Weekly King County Market Watch NW | Chris Doucet

Activity remains stable, with the number of listings increasing compared to the previous week. Active listings saw a slight decline, while sold listings experienced a modest rise in King County. The days on market have increased, likely influenced by the holiday. The median active price remains steady, and the median sale price has risen. Notably, new listings surged by 166% last week. Contact me today to set up a consultation in person or virtually to learn more about market conditions, Compass Concierge, and how I can leverage our nationwide network to source buyers to sell your home for more money.

Chris Doucet Founding Partner in Seattle M: 206.819.4663 chris.doucet@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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