Provided By Dallas Morning News
The number of potential home foreclosures in North Texas is down sharply.
Foreclosure filings for next month’s auctions dropped by 23 percent, Foreclosure Listing Service said Thursday.
This is the third month in a row that foreclosure postings in the four-county area are lower than the previous year.
“Dallas-Fort Worth residential foreclosure postings have dropped to a 40-month low,” said George Roddy, president of the Addison-based foreclosure tracking firm.
Lenders have scheduled 3,719 area homes for foreclosure in May, the lowest number since January 2008.
But despite recent declines in foreclosure postings, Roddy isn’t convinced the worst is over.
“I believe this is an artificial decline in foreclosure notices due to the tremendous scrutiny applied by regulators during recent months in response to publicity about past problems with the foreclosure process,” he said. “The fallout from this foreclosure crisis is going to take a long time to work through.”
Some analysts are predicting lenders will increase the number of foreclosures in the months ahead.
The biggest drop in current foreclosure filings is in Collin County, where postings dropped 31 percent from a year ago. Postings are down 23 percent in Dallas County and 24 percent in Tarrant County.
For the first five months of 2011, foreclosure filings in North Texas are 8 percent lower than in the same period last year, Foreclosure Listing Service reports. So far in 2011, 25,106 home foreclosure filings have been recorded in the four-county area.
Only about a third of the homes set for foreclosure each month are actually sold by lenders. In many cases the forced sale is delayed or the borrower reaches a new agreement with the mortgage company.
Last year, lenders filed for foreclosure on a record 63,835 D-FW area homes — up 4 percent from 2009.
Facing foreclosure? There are options, call us at 972.772.7000 or email us at frontdesk552@kw.com.
Friday, April 29, 2011
Wednesday, April 27, 2011
Evaluating and responding to different offers
Provided By Trulia
Congratulations - you have received an offer on your home! So how can you evaluate and respond to the offer ihttp://www.blogger.com/img/blank.gifn a way that protects your interests but doesn't send buyers running for the hills?
The first thing to remember is that all offers are good. Why? Because it shows that a buyer has chosen your home over the massive amount of competition available in the marketplace. Any offer then, regardless of how high, low, or crazy it might be, should be taken as a compliment. Now the harder question - Should you accept the offer?
As a seller, when you receive an offer you always have three choices. First, you can accept the offer - this means subject to the conditions of the sale your home is officially sold. Second, you can reject the offer, and in effect tell the buyer to kindly kiss off. Or third, you can counter the offer. While many sellers instinctively reach for a pen to counter all offers, wise sellers take a deep breath before making this decision.
Many sellers view making a counter offer as a natural part of the sales process, but what many don't realize is that they are really rejecting the buyer's offer first and then presenting a new offer back to the buyer. The trouble with this is, the instant you give the buyer a moment to pause and reconsider their decision, even for a minor point, you run the risk of losing the buyer. Because of this the question that successful sellers have learned to ask themselves first is: Is it really worth a counter offer? This simple question should be the measuring stick with which to evaluate every item you plan to ask for from a buyer. In many cases the risk is not worth the reward.
If you are forced to make a counter offer keep in mind these three tips:
Attempt to understand the buyer's position
A negotiation is never a one way street. In order to create a sale, both parties must feel they are receiving a good value. Learn as much about the buyer, including their background and reasons for making their initial offer, as possible. By doing so you may able to find common ground that can create a successful sale.
Use the give and take technique
When making a counter offer, think in terms of, not only what you want, but what you might be willing to give up to make the sale happen. For instance, if you are asking for a higher price, can you help pay the buyer's closing costs or perhaps pay points to help them secure lower payments?
Emphasize the positives
In writing your counter offer you may want to emphasize the areas that you do agree on before you begin asking for modifications. For instance, point out all the areas of the original offer that are acceptable. This might include the closing date, the possession date, the down payment, the price, the inclusions and exclusions, the financing type, specific conditions or contingencies, or even something as simple as the size of the earnest money deposit.
By taking the time to evaluate each offer and establish a negotiating strategy, based on an unemotional analysis of the market and your needs as a seller, you will be far ahead of your competition.
If you are ready to sell your home and need a professional real estate agent give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
Congratulations - you have received an offer on your home! So how can you evaluate and respond to the offer ihttp://www.blogger.com/img/blank.gifn a way that protects your interests but doesn't send buyers running for the hills?
The first thing to remember is that all offers are good. Why? Because it shows that a buyer has chosen your home over the massive amount of competition available in the marketplace. Any offer then, regardless of how high, low, or crazy it might be, should be taken as a compliment. Now the harder question - Should you accept the offer?
As a seller, when you receive an offer you always have three choices. First, you can accept the offer - this means subject to the conditions of the sale your home is officially sold. Second, you can reject the offer, and in effect tell the buyer to kindly kiss off. Or third, you can counter the offer. While many sellers instinctively reach for a pen to counter all offers, wise sellers take a deep breath before making this decision.
Many sellers view making a counter offer as a natural part of the sales process, but what many don't realize is that they are really rejecting the buyer's offer first and then presenting a new offer back to the buyer. The trouble with this is, the instant you give the buyer a moment to pause and reconsider their decision, even for a minor point, you run the risk of losing the buyer. Because of this the question that successful sellers have learned to ask themselves first is: Is it really worth a counter offer? This simple question should be the measuring stick with which to evaluate every item you plan to ask for from a buyer. In many cases the risk is not worth the reward.
If you are forced to make a counter offer keep in mind these three tips:
Attempt to understand the buyer's position
A negotiation is never a one way street. In order to create a sale, both parties must feel they are receiving a good value. Learn as much about the buyer, including their background and reasons for making their initial offer, as possible. By doing so you may able to find common ground that can create a successful sale.
Use the give and take technique
When making a counter offer, think in terms of, not only what you want, but what you might be willing to give up to make the sale happen. For instance, if you are asking for a higher price, can you help pay the buyer's closing costs or perhaps pay points to help them secure lower payments?
Emphasize the positives
In writing your counter offer you may want to emphasize the areas that you do agree on before you begin asking for modifications. For instance, point out all the areas of the original offer that are acceptable. This might include the closing date, the possession date, the down payment, the price, the inclusions and exclusions, the financing type, specific conditions or contingencies, or even something as simple as the size of the earnest money deposit.
By taking the time to evaluate each offer and establish a negotiating strategy, based on an unemotional analysis of the market and your needs as a seller, you will be far ahead of your competition.
If you are ready to sell your home and need a professional real estate agent give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
Monday, April 25, 2011
Art of HOA Tree Pruning
Provided By Realty Times
Trees are living artwork that decorate the common area. They are beautiful and soothe the soul but are constantly changing. Like all living things, they need care and attention.
Trees are pruned to produce an effect in the landscape - that's the "art" side of pruning. Understanding and being able the tree's growth and health response to pruning is the "science" side.
When done properly, pruning can improve a tree's appearance as well as increase its life expectancy. Proper pruning opens the canopy of the tree to permit more air movement and sunlight penetration. Done improperly, pruning can decrease the tree's life expectancy or even kill it. Because trees are living organisms, they can be profoundly affected by pruning practices.
The American National Standards Institute's criteria for tree pruning called "ANSI A300" was adopted in 1995. It should be followed in all pruning situations and geographic areas.
Making Cuts: Branches should be removed with thinning cuts. A thinning cut either removes a branch at its point of origin or shortens it back to a lateral branch that is large enough to assume the terminal role.
Branches should not be removed with heading or topping cuts. A heading cut is when a currently growing or one-year-old shoot is cut back to a bud, or when a larger limb is cut back to a stub or a lateral that is not big enough to assume the terminal role. Heading should not be used in shade and ornamental tree pruning, since it forces the growth of sprouts that are weakly attached to the parent stem. Drastic heading can kill the tree outright.
Branch Size: A minimum or maximum diameter size of branches to be removed should be specified in all pruning operations. This establishes how much pruning is to be done.
Pruning Objectives: Pruning objectives should be established prior to beginning any pruning operation. A300 provides two basic objectives:
Hazard Reduction Pruning: This is recommended when the primary objective is to reduce the danger to a specific target caused by visibly defined hazards in a tree. For example, hazard reduction pruning may be the primary objective if a tree had many dead limbs over a park bench.
Maintenance Pruning: This is recommended when the primary objective is to maintain or improve tree health and structure, and includes hazard-reduction pruning. An example here might be to perform a maintenance pruning operation on a front yard tree.
Pruning Types: Hazard reduction pruning and maintenance pruning should consist of one or more of the pruning types noted below.
Crown Cleaning consists of the selective removal of one or more of the following items: dead, dying, or diseased branches, weak branches and watersprouts.
Crown Thinning is the selective removal of branches to increase light penetration, air movement, and reduce weight.
Crown raising consists of the removal of the lower branches of a tree to provide clearance.
Crown reduction, also called crown shaping, decreases the height and/or spread of a tree. Consideration should be given to the ability of a species to sustain this type of pruning.
Vista pruning is selective thinning of framework limbs or specific areas of the crown to allow a view of an object from a predetermined point.
Crown restoration pruning should improve the structure, form and appearance of trees which have been severely headed, vandalized, or storm damaged.
When you contract a company for tree care, you should obtain a written commitment that, "All pruning shall be done in accordance with the ANSI A300 standard for tree pruning." This means:
Proper cuts will be made.
Spikes won't be used to climb. Spikes are injurious to the living tree and should only be used in emergency situations or when the tree has very thick bark.
Not more than 1/4 of the foliage of the canopy or individual limbs should be removed in any one season.
When pruning is completed, at least ½ of the foliage should remain evenly distributed in the lower 2/3 of the canopy.
Trees are one of a homeowner association's biggest assets and need to be treated with respect and care. Use only a trained arborist and budget in your reserve plan for recommended pruning.
If you are interested in a home and have HOA questions, please give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
Trees are living artwork that decorate the common area. They are beautiful and soothe the soul but are constantly changing. Like all living things, they need care and attention.
Trees are pruned to produce an effect in the landscape - that's the "art" side of pruning. Understanding and being able the tree's growth and health response to pruning is the "science" side.
When done properly, pruning can improve a tree's appearance as well as increase its life expectancy. Proper pruning opens the canopy of the tree to permit more air movement and sunlight penetration. Done improperly, pruning can decrease the tree's life expectancy or even kill it. Because trees are living organisms, they can be profoundly affected by pruning practices.
The American National Standards Institute's criteria for tree pruning called "ANSI A300" was adopted in 1995. It should be followed in all pruning situations and geographic areas.
Making Cuts: Branches should be removed with thinning cuts. A thinning cut either removes a branch at its point of origin or shortens it back to a lateral branch that is large enough to assume the terminal role.
Branches should not be removed with heading or topping cuts. A heading cut is when a currently growing or one-year-old shoot is cut back to a bud, or when a larger limb is cut back to a stub or a lateral that is not big enough to assume the terminal role. Heading should not be used in shade and ornamental tree pruning, since it forces the growth of sprouts that are weakly attached to the parent stem. Drastic heading can kill the tree outright.
Branch Size: A minimum or maximum diameter size of branches to be removed should be specified in all pruning operations. This establishes how much pruning is to be done.
Pruning Objectives: Pruning objectives should be established prior to beginning any pruning operation. A300 provides two basic objectives:
Hazard Reduction Pruning: This is recommended when the primary objective is to reduce the danger to a specific target caused by visibly defined hazards in a tree. For example, hazard reduction pruning may be the primary objective if a tree had many dead limbs over a park bench.
Maintenance Pruning: This is recommended when the primary objective is to maintain or improve tree health and structure, and includes hazard-reduction pruning. An example here might be to perform a maintenance pruning operation on a front yard tree.
Pruning Types: Hazard reduction pruning and maintenance pruning should consist of one or more of the pruning types noted below.
Crown Cleaning consists of the selective removal of one or more of the following items: dead, dying, or diseased branches, weak branches and watersprouts.
Crown Thinning is the selective removal of branches to increase light penetration, air movement, and reduce weight.
Crown raising consists of the removal of the lower branches of a tree to provide clearance.
Crown reduction, also called crown shaping, decreases the height and/or spread of a tree. Consideration should be given to the ability of a species to sustain this type of pruning.
Vista pruning is selective thinning of framework limbs or specific areas of the crown to allow a view of an object from a predetermined point.
Crown restoration pruning should improve the structure, form and appearance of trees which have been severely headed, vandalized, or storm damaged.
When you contract a company for tree care, you should obtain a written commitment that, "All pruning shall be done in accordance with the ANSI A300 standard for tree pruning." This means:
Proper cuts will be made.
Spikes won't be used to climb. Spikes are injurious to the living tree and should only be used in emergency situations or when the tree has very thick bark.
Not more than 1/4 of the foliage of the canopy or individual limbs should be removed in any one season.
When pruning is completed, at least ½ of the foliage should remain evenly distributed in the lower 2/3 of the canopy.
Trees are one of a homeowner association's biggest assets and need to be treated with respect and care. Use only a trained arborist and budget in your reserve plan for recommended pruning.
If you are interested in a home and have HOA questions, please give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
Friday, April 22, 2011
Wednesday, April 20, 2011
Easy Ways to Boost Curb Appeal
Provided By Good Housekeeping These quick, inexpensive changes will help you have the best house on the block Whether you simply want your home to look its smartest or you're thinking about putting it on the market in a year or two, these quick, inexpensive changes will help you have what you want: the best house on the block. 1. Get a new door. "The front door is the most telling detail of your house," says Alan Hanbury, Jr., former chairman of the Remodelors Council of the National Association of Home Builders. You can give your home's entryway an instant lift by choosing custom colors, handsome woods such as mahogany or cherry, or cut-glass storm doors. 2. Think shutters. "If you have an older house, this is one way to add character without spending a lot," says Rocco P. Orlando Jr., an architect in Ridgewood, New Jersey. You can hunt for them in antiques shops or order them from a home store. Shutters are also a good place to add vibrant accent colors like Benjamin Moore's Caribbean Blue Water, Valspar's Oatlands Yellow, or Home Depot's spicy margarita greens and chili-pepper reds. 3. Accessorize. Brass knockers, mailboxes, and lanterns are small investments that make your house look great, says Tim Carter, a syndicated home-improvement columnist (askthebuilder.com). Since these accents can lose their shine, choose tarnish-free pieces such as Baldwin Hardware's line, starting at $50 for a mail slot. House numbers, kickplates, and doorbell buttons are also available. 4. Spruce up the grounds. Trim shrubs so that doors and windows aren't hidden. Fill window boxes with vines, geraniums, and ornamental grasses, or plant tried-and-true perennials like climbing hydrangea. The garden should complement the style of the house, says Don Haldeman, owner of Sycamore Springs Garden Center in Reading, Pennsylvania. If your house is contemporary, skip the old-fashioned flowering plants and select carefully trimmed spruces or spiral topiaries. 5. Paint it right. Traditional colors are big right now, says John Crosby Freeman, a color and design consultant. And unlike eggplant purple (which was hot a few years ago), the classics never go out of style. Benjamin Moore's Historical Colors collection is the company's most popular line, with 174 shades. Timeless favorites from Valspar's American Tradition line include Coastal Peach (inspired by San Diego's Hotel Del Coronado) and Woodlawn Sterling Blue (from George Washington's daughter's estate). Since the average cost to paint a two-story home is more than $8,000, don't rush your decision. Check out homes you like in your area and ask the owners for the names of the paint colors they used. Read more: Easy Ways to Boost Curb Appeal - Good Housekeeping
Friday, April 15, 2011
The Numbers on Buying a House
Provided By Realty Times
It can be a tricky question. How much home can you really afford? From employment status, to savings, downpayment, and even spending habits, there are a myriad of factors that come into play.
Here is a list of items to consider before settling on a budget.
1. Monthly Payment: Conventional wisdom tells us that your mortgage payment should be no more than 28 of your gross monthly income. This means that if you make $50,000 a year, the maximum amount you would safely want to pay each month is $1,166. How do you figure this for you own salary? Take ___ (salary) x .28 = total dollar amount for year. Then divide the total dollar amount by 12 (months in the year) and there you have it!
The National Association of Realtors also gives this simple equation for renters to use to figure out how much they can afford. Multiply your rent by 1.32 and that will equal your affordable mortgage payment.
2. Job Security: Have you just switched jobs? Is your company experiencing layoffs? In times of economic uncertainty, you may find it best to stay put. This is why many economic analysts keep saying that a housing recovery is dependent on a jobs recovery. When jobs return, so will the buyers.
3. Savings: The state of American savings is scary. According to Visual Economics.com, the average family has $117,951 worth of debt and only $3,800 in savings.
And a quarter of Americans have no savings at all! Half have nothing saved for retirement. Talk about crossing your fingers that social security will hold out for a while.
New grads are encountering an even scarier situation. The average college graduate has well over $20,000 in student loans to repay, and according to the New York Times, "Paying back student loans is likely to be especially difficult for recent graduates ... because the unemployment rate for college graduates ages 20 to 24 was 8.7 percent in 2009 — the highest annual rate on record and a substantial rise from 5.8 percent in 2008."
How does your debt-to-income ratio stack up? The Federal Reserve thinks debt adding up to more than 40% of your gross income could indicate financial distress.
The U.S. savings rate has risen steadily since the recession hit. It is now at 5.8 percent (American Express Spending & Saving Tracker). Hopefully, this rate will continue to be a trend.
4. Emergency Fund: Before you even begin to think about buying a house or moving, you must have an 8-month emergency fund in the bank. This means you need to add up your living expenses for a month. Include all the necessities and things that must be paid (rent or mortgage, car payments, insurance, food, gas money, electric, phone, tuition, day care, etc). Then multiply this number by 8. You must have this in case you or your spouse loses your job, gets sicks, or some other disaster hits your family.
5. Downpayment: This is savings in addition to your 8-month emergency fund. And a downpayment should be at least 20 percent of your purchase amount.
Look at it this way. If your monthly expenses are $2,000 a month and you want to buy a $100,000 house, you'll need a bare minimum of $36,000 in the bank to truly afford this move. That doesn't include cash needed for closing costs, repairs, moving expenses, and renovation.
6. Lifestyle and Extraneous Factors: Everyone has different wants and needs. You may be fine spending a little more for the house of your dreams in exchange for taking fewer vacations. Others abhor the statement, "house rich, cash poor," and instead would rather have funds for shopping, dining out, and travel. And don't forget about extraneous factors, such as aging parents, car repairs and maintenance. Things may come out of nowhere!
Buying a house is a fulfilling experience, but it comes with a lot of financial responsibility that shouldn't be taken lightly. Be sure to mull these items over when considering a buy.
Do you feel ready to buy a home, but are unsure where to start? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
It can be a tricky question. How much home can you really afford? From employment status, to savings, downpayment, and even spending habits, there are a myriad of factors that come into play.
Here is a list of items to consider before settling on a budget.
1. Monthly Payment: Conventional wisdom tells us that your mortgage payment should be no more than 28 of your gross monthly income. This means that if you make $50,000 a year, the maximum amount you would safely want to pay each month is $1,166. How do you figure this for you own salary? Take ___ (salary) x .28 = total dollar amount for year. Then divide the total dollar amount by 12 (months in the year) and there you have it!
The National Association of Realtors also gives this simple equation for renters to use to figure out how much they can afford. Multiply your rent by 1.32 and that will equal your affordable mortgage payment.
2. Job Security: Have you just switched jobs? Is your company experiencing layoffs? In times of economic uncertainty, you may find it best to stay put. This is why many economic analysts keep saying that a housing recovery is dependent on a jobs recovery. When jobs return, so will the buyers.
3. Savings: The state of American savings is scary. According to Visual Economics.com, the average family has $117,951 worth of debt and only $3,800 in savings.
And a quarter of Americans have no savings at all! Half have nothing saved for retirement. Talk about crossing your fingers that social security will hold out for a while.
New grads are encountering an even scarier situation. The average college graduate has well over $20,000 in student loans to repay, and according to the New York Times, "Paying back student loans is likely to be especially difficult for recent graduates ... because the unemployment rate for college graduates ages 20 to 24 was 8.7 percent in 2009 — the highest annual rate on record and a substantial rise from 5.8 percent in 2008."
How does your debt-to-income ratio stack up? The Federal Reserve thinks debt adding up to more than 40% of your gross income could indicate financial distress.
The U.S. savings rate has risen steadily since the recession hit. It is now at 5.8 percent (American Express Spending & Saving Tracker). Hopefully, this rate will continue to be a trend.
4. Emergency Fund: Before you even begin to think about buying a house or moving, you must have an 8-month emergency fund in the bank. This means you need to add up your living expenses for a month. Include all the necessities and things that must be paid (rent or mortgage, car payments, insurance, food, gas money, electric, phone, tuition, day care, etc). Then multiply this number by 8. You must have this in case you or your spouse loses your job, gets sicks, or some other disaster hits your family.
5. Downpayment: This is savings in addition to your 8-month emergency fund. And a downpayment should be at least 20 percent of your purchase amount.
Look at it this way. If your monthly expenses are $2,000 a month and you want to buy a $100,000 house, you'll need a bare minimum of $36,000 in the bank to truly afford this move. That doesn't include cash needed for closing costs, repairs, moving expenses, and renovation.
6. Lifestyle and Extraneous Factors: Everyone has different wants and needs. You may be fine spending a little more for the house of your dreams in exchange for taking fewer vacations. Others abhor the statement, "house rich, cash poor," and instead would rather have funds for shopping, dining out, and travel. And don't forget about extraneous factors, such as aging parents, car repairs and maintenance. Things may come out of nowhere!
Buying a house is a fulfilling experience, but it comes with a lot of financial responsibility that shouldn't be taken lightly. Be sure to mull these items over when considering a buy.
Do you feel ready to buy a home, but are unsure where to start? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
Wednesday, April 13, 2011
10 Cheap Fixes To Boost Your Home's Value
Provided By Donna Patrick
Short on cash but ready to renovate? Think new door handles, not new doors, and spiffed-up appliance fronts, not new appliances.
Looking for ways to spruce up your home without putting yourself in the poorhouse? Whether you're getting ready to sell your home or want to spiff it up inexpensively for your own enjoyment, we've got 10 good strategies for you to consider.
The actual cost and payback for each project can vary, depending on both your home's condition and overall real estate market values in your region of the country.
Make your kitchen really cook. The kitchen is still considered the heart of the home. Potential home buyers make a beeline for this room when they first view a home for sale, so make sure your kitchen looks clean and reasonably updated.
For a few hundred dollars, you can replace the kitchen faucet set, add new cabinet door handles and update old lighting fixtures with brighter, more energy-efficient ones.
If you've got a slightly larger budget, you can give the cabinets themselves a makeover. "Rather than spring for a whole new cabinet system, which can be expensive, look into hiring a refacing company," says serial remodeler Gwen Moran, co-author of "Build Your Own Home on a Shoestring."
"Many companies can remove cabinet doors and drawers, refinish the cabinet boxes, then add brand-new doors and drawers. With a fresh coat of paint over the whole set, your cabinets will look like new."
If you're handy, you can order your own replacement cabinet doors and door fronts from retailers like Lowe's Home Improvement or The Home Depot and install them yourself.
Give appliances a facelift. If your kitchen appliances don't match, order new doors or face panels for them. When Nicole Persley, a Realtor in Boca Raton, was sprucing up her own home to sell, her mix-and-match kitchen bothered her. The room had a white dishwasher, microwave and wall oven mixed with other pieces that were stainless steel with black trim.
When Persley called the dishwasher manufacturer to see about ordering a new, black face panel, the customer service representative clued her in on a big secret: Many dishwasher panels are white on one side and black on the other.
"All I had to do was unscrew two screws, slide out the panel and flip it around. Sure enough -- it was black on the other side!"
Persley, who has remodeled numerous homes for resale, says that a more cohesive-looking kitchen makes a big difference in the buyer's mind -- and in the home's resale price.
Buff up the bath. Next to the kitchen, bathrooms are often the most important rooms to update. They, too, can be improved without a lot of cash. "Even simple things like a new toilet seat and a pedestal sink are pretty easy for homeowners to install, and they make a big difference in the look of the bath," says Moran.
Moran also suggests replacing an old, discolored bathroom floor with easy-to-apply vinyl tiles or a small piece of sheet vinyl. "You may not even need to take up the old floor. You can install the new floor right over the old one," she says.
If your tub and shower are looking dingy, consider re-grouting the tile and replacing any chipped tiles. A more complete cover-up is a prefabricated tub and shower surround. These one-piece units may require professional installation but can still be cheaper than paying to re-tile walls and refinish a worn tub.
Step up your storage. Old houses, particularly, are notorious for their lack of closet space. If you have cramped storage areas, add a do-it-yourself wire and laminate closet systems to bedrooms, pantries and entry closets.
Firms like ClosetMaid allow you to measure and redesign your closets online. You can also get design details and parts for these systems at many large home-improvement stores. Most closets can be updated in a weekend or less.
In the end, your closets will be more functional while you're living in the house and will make your home look more customized to potential buyers when you're ready to sell.
Add a room in a week or less. "If you have a three-bedroom house with a den, the only reason the den can't be considered a bedroom may be because it doesn't have a closet," says Persley. "If you add a closet to that room, you've now got a four-bedroom house. That adds a lot of value."
Persley says it's usually possible to add a custom closet system and drywall it in for less than $1,500.
Mind the mechanics. Finley Perry of F.H. Perry Builder in Hopkinton, Mass., advocates spending a few bucks on nitty-gritty stuff. "It's often very worthwhile to hire an electrician and plumber for a couple of hours to look over your electrical services, wrap or fix loose wires, fix any faulty outlets, and check for and fix any water leaks," Perry says. "Those details tell a buyer that someone has really taken care of the home and can really influence its price."
Look underfoot. Carpeting is another detail that can quickly update a home and make it look cleaner. A professional carpet cleaning is an inexpensive investment, especially if your rugs are in good shape and are neutral colors.
If your carpet is showing serious wear, cover it with inexpensive, strategically placed area rugs. Unless it is truly hideous, most Realtors don't suggest replacing wall-to-wall carpeting right before you sell your house. The new homeowners may want to choose their own carpeting after they move in.
Let there be light. If you have boring recessed lights in your dining and living rooms, consider replacing one of the room's lights with an eye-catching chandelier. Home stores offer a wide range of inexpensive, but nice-looking, ceiling fixtures these days. If you have a ceiling fan and light, you can also buy replacement fan blades (leaving the fan body in place) to update the fixture's look.
Reframe your entry. Do you have a flimsy little knob on your main entry door? If so, spring for a substantial-looking handle-and-lock set. A nice, big piece of hardware on the front door signals to newcomers that this is a solid home.
Also, if you're stuck with a basic steel front door, Persley suggests painting or faux-finishing it for more eye appeal. "It's becoming a trend in Florida to add wood-grain doors to a home's entry or garage. The good news, though, is that you can easily paint existing metal doors with stain and paint," she says.
After using a good metal primer, Persley gives the door a base coat of paint (again, be sure to use one approved for use over metal). For a cherry wood look, Persley uses a burgundy base paint. After it dries, she brushes over the base coat with a cherry wood stain. "It really looks amazing, and it only takes a few hours," she says.
Consider curb appeal. Although it sounds obvious, a nicely mowed lawn, a few well-placed shrubs and a swept walkway makes a great first impression. What buyers see when they first drive by your home is tremendously important.
If you don't have a green thumb, consider hiring a landscaper to install some new sod, plant a few evergreen shrubs and give your front yard a good cleanup. "These kinds of changes can instantly change people's perception of your home and, therefore, increase its value," says Viessi. And hey, your neighbors will love you for it, too.
Do you need great tips on getting your home sold? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
Short on cash but ready to renovate? Think new door handles, not new doors, and spiffed-up appliance fronts, not new appliances.
Looking for ways to spruce up your home without putting yourself in the poorhouse? Whether you're getting ready to sell your home or want to spiff it up inexpensively for your own enjoyment, we've got 10 good strategies for you to consider.
The actual cost and payback for each project can vary, depending on both your home's condition and overall real estate market values in your region of the country.
Make your kitchen really cook. The kitchen is still considered the heart of the home. Potential home buyers make a beeline for this room when they first view a home for sale, so make sure your kitchen looks clean and reasonably updated.
For a few hundred dollars, you can replace the kitchen faucet set, add new cabinet door handles and update old lighting fixtures with brighter, more energy-efficient ones.
If you've got a slightly larger budget, you can give the cabinets themselves a makeover. "Rather than spring for a whole new cabinet system, which can be expensive, look into hiring a refacing company," says serial remodeler Gwen Moran, co-author of "Build Your Own Home on a Shoestring."
"Many companies can remove cabinet doors and drawers, refinish the cabinet boxes, then add brand-new doors and drawers. With a fresh coat of paint over the whole set, your cabinets will look like new."
If you're handy, you can order your own replacement cabinet doors and door fronts from retailers like Lowe's Home Improvement or The Home Depot and install them yourself.
Give appliances a facelift. If your kitchen appliances don't match, order new doors or face panels for them. When Nicole Persley, a Realtor in Boca Raton, was sprucing up her own home to sell, her mix-and-match kitchen bothered her. The room had a white dishwasher, microwave and wall oven mixed with other pieces that were stainless steel with black trim.
When Persley called the dishwasher manufacturer to see about ordering a new, black face panel, the customer service representative clued her in on a big secret: Many dishwasher panels are white on one side and black on the other.
"All I had to do was unscrew two screws, slide out the panel and flip it around. Sure enough -- it was black on the other side!"
Persley, who has remodeled numerous homes for resale, says that a more cohesive-looking kitchen makes a big difference in the buyer's mind -- and in the home's resale price.
Buff up the bath. Next to the kitchen, bathrooms are often the most important rooms to update. They, too, can be improved without a lot of cash. "Even simple things like a new toilet seat and a pedestal sink are pretty easy for homeowners to install, and they make a big difference in the look of the bath," says Moran.
Moran also suggests replacing an old, discolored bathroom floor with easy-to-apply vinyl tiles or a small piece of sheet vinyl. "You may not even need to take up the old floor. You can install the new floor right over the old one," she says.
If your tub and shower are looking dingy, consider re-grouting the tile and replacing any chipped tiles. A more complete cover-up is a prefabricated tub and shower surround. These one-piece units may require professional installation but can still be cheaper than paying to re-tile walls and refinish a worn tub.
Step up your storage. Old houses, particularly, are notorious for their lack of closet space. If you have cramped storage areas, add a do-it-yourself wire and laminate closet systems to bedrooms, pantries and entry closets.
Firms like ClosetMaid allow you to measure and redesign your closets online. You can also get design details and parts for these systems at many large home-improvement stores. Most closets can be updated in a weekend or less.
In the end, your closets will be more functional while you're living in the house and will make your home look more customized to potential buyers when you're ready to sell.
Add a room in a week or less. "If you have a three-bedroom house with a den, the only reason the den can't be considered a bedroom may be because it doesn't have a closet," says Persley. "If you add a closet to that room, you've now got a four-bedroom house. That adds a lot of value."
Persley says it's usually possible to add a custom closet system and drywall it in for less than $1,500.
Mind the mechanics. Finley Perry of F.H. Perry Builder in Hopkinton, Mass., advocates spending a few bucks on nitty-gritty stuff. "It's often very worthwhile to hire an electrician and plumber for a couple of hours to look over your electrical services, wrap or fix loose wires, fix any faulty outlets, and check for and fix any water leaks," Perry says. "Those details tell a buyer that someone has really taken care of the home and can really influence its price."
Look underfoot. Carpeting is another detail that can quickly update a home and make it look cleaner. A professional carpet cleaning is an inexpensive investment, especially if your rugs are in good shape and are neutral colors.
If your carpet is showing serious wear, cover it with inexpensive, strategically placed area rugs. Unless it is truly hideous, most Realtors don't suggest replacing wall-to-wall carpeting right before you sell your house. The new homeowners may want to choose their own carpeting after they move in.
Let there be light. If you have boring recessed lights in your dining and living rooms, consider replacing one of the room's lights with an eye-catching chandelier. Home stores offer a wide range of inexpensive, but nice-looking, ceiling fixtures these days. If you have a ceiling fan and light, you can also buy replacement fan blades (leaving the fan body in place) to update the fixture's look.
Reframe your entry. Do you have a flimsy little knob on your main entry door? If so, spring for a substantial-looking handle-and-lock set. A nice, big piece of hardware on the front door signals to newcomers that this is a solid home.
Also, if you're stuck with a basic steel front door, Persley suggests painting or faux-finishing it for more eye appeal. "It's becoming a trend in Florida to add wood-grain doors to a home's entry or garage. The good news, though, is that you can easily paint existing metal doors with stain and paint," she says.
After using a good metal primer, Persley gives the door a base coat of paint (again, be sure to use one approved for use over metal). For a cherry wood look, Persley uses a burgundy base paint. After it dries, she brushes over the base coat with a cherry wood stain. "It really looks amazing, and it only takes a few hours," she says.
Consider curb appeal. Although it sounds obvious, a nicely mowed lawn, a few well-placed shrubs and a swept walkway makes a great first impression. What buyers see when they first drive by your home is tremendously important.
If you don't have a green thumb, consider hiring a landscaper to install some new sod, plant a few evergreen shrubs and give your front yard a good cleanup. "These kinds of changes can instantly change people's perception of your home and, therefore, increase its value," says Viessi. And hey, your neighbors will love you for it, too.
Do you need great tips on getting your home sold? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
Monday, April 11, 2011
TEXAS HOME BUILDING MARKETS HEALTHY
Provided By Texas A&M Real Estate
Texas housing markets are among the healthiest for home building, according to Hanley Wood Market Intelligence.
The firm's Builder Market Health Index gives many Texas MSAs a market health indicator well above 50 out of 100 (50 being the minimum to be considered healthy).
Austin-Round Rock had a score of 86.5, second only to Raleigh-Cary, NC, which had 86.9.
Houston-Sugar Land-Baytown scored a 77.3, San Antonio a 75.6, Dallas-Fort Worth-Arlington a 70.7 and El Paso a 65.8. Killeen-Temple-Fort Hood and McAllen-Edinburg-Mission each scored 54.5.
According to Hanley Wood, the index weighs housing conditions in the 100 largest home building markets based on the 2011 outlook for six key variables most associated with strong home sales. Those include unemployement rate, change in unemployment numbers, home price appreciation, household growth, job growth and median income growth.
Are you interested in building your dream home? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
Texas housing markets are among the healthiest for home building, according to Hanley Wood Market Intelligence.
The firm's Builder Market Health Index gives many Texas MSAs a market health indicator well above 50 out of 100 (50 being the minimum to be considered healthy).
Austin-Round Rock had a score of 86.5, second only to Raleigh-Cary, NC, which had 86.9.
Houston-Sugar Land-Baytown scored a 77.3, San Antonio a 75.6, Dallas-Fort Worth-Arlington a 70.7 and El Paso a 65.8. Killeen-Temple-Fort Hood and McAllen-Edinburg-Mission each scored 54.5.
According to Hanley Wood, the index weighs housing conditions in the 100 largest home building markets based on the 2011 outlook for six key variables most associated with strong home sales. Those include unemployement rate, change in unemployment numbers, home price appreciation, household growth, job growth and median income growth.
Are you interested in building your dream home? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
Friday, April 8, 2011
Wednesday, April 6, 2011
Features and upgrades to make your home stand out
Provided By Yahoo! Real Estate
With the economy more precarious and housing starts and sales somewhat sluggish, homeowners are wise to consider hot trends to differentiate their home from others on the block.
But gone are the days when homeowners were eager to have the largest house on the block. Many also are less interested in gaining a spa bathroom when they have less leisure time to soak; ditto for chef-worthy kitchens.
The last survey from the National Association of Home Builders reported that more homeowners are looking foremost for value rather than splash in building or buying a new house, says Stephen Melman, the NAHB's director of economic services, economics and housing policy. "More than 40 percent of new homebuyers are first-time purchases, so money is an issue. Affordability is driving every decision," he says.
The same goal of getting as much for their money holds true for remodelers, according to Kermit Baker , chief economist at the American Institute of Architects. "Many are remodeling homes in infill areas, since there's less demand for large suburban subdivisions," he says. Houses with close proximity to public transit, employment centers, retail, entertainment options, access to open recreational space and multigenerational options are among the most popular, Baker says. In contrast, homes with specialized media and workout rooms are less sought after, he says.
While the goal should be to build or remodel so improvements meet an owner's lifestyle and budget, it's smart to know what's desirable. Here's what's currently hot in the home:
Walk-in master-bedroom closets
More closet space, with ample room to move about, contributes to efficiency - especially for homeowners trying to get dressed and out the door in a hurry each morning.
Home offices
With more working from home on a full- or part-time basis, or picking up freelance work, a home office or devoted work area holds allure, Baker says.
Popular porches
Whether at the front of the house or back and whether open air or screened, the iconic porch has become more of a must-have.
Smaller dining rooms
Not yet dead and gone, the dining room is shrinking in many houses or becoming a corner of a living or great room. "It can be located against a wall to designate where it's located," says Melman.
Indoor kitchens only
The outdoor kitchen - one of the housing boom's hallmarks of opulence - has seemed to lost its favor, as it can be expensive to outfit, and, after all, the indoor kitchen may be just steps away. It maintains some value in warmer climates, however, due to its role in enhancing casual living.
Flexible arrangements
With more adults downsizing but wanting to have room for family, rooms that lend themselves to flexible arrangements are key. Fairfield, N.J.-based designer Judi Schwarz suggests pushing a sofa away from a wall so there's space for storage behind or having a banquette by a table to accommodate more at meals.
Energy efficiency
At the top of lists are modern-day standards like good insulation and LED lights with dimmers, plus sustainable features like tankless water heaters, Melman says.
Main-floor masters
The trend continues as baby boomers age and purchase, perhaps, their last new home.
Smaller garages
With folks eschewing massive gas-guzzling SUVs, the demand for the big garage with three bays and storage space is dwindling.
High ceilings
Despite a trend toward smaller homes, ceilings are rising a bit, though not necessarily to former two-story volumes, says Gary Drake, CEO of Drake Construction in Los Angeles.
Striking flooring
Among the hottest choices are pre-finished antique ebony oak, Jerusalem Gold classic limestone, Crema Marfil 18-square stone tiles and natural fiber flooring made from eco-friendly sources such as bamboo, Drake says.
Are you looking for fabulous ways to make your home stand out from other listings? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
With the economy more precarious and housing starts and sales somewhat sluggish, homeowners are wise to consider hot trends to differentiate their home from others on the block.
But gone are the days when homeowners were eager to have the largest house on the block. Many also are less interested in gaining a spa bathroom when they have less leisure time to soak; ditto for chef-worthy kitchens.
The last survey from the National Association of Home Builders reported that more homeowners are looking foremost for value rather than splash in building or buying a new house, says Stephen Melman, the NAHB's director of economic services, economics and housing policy. "More than 40 percent of new homebuyers are first-time purchases, so money is an issue. Affordability is driving every decision," he says.
The same goal of getting as much for their money holds true for remodelers, according to Kermit Baker , chief economist at the American Institute of Architects. "Many are remodeling homes in infill areas, since there's less demand for large suburban subdivisions," he says. Houses with close proximity to public transit, employment centers, retail, entertainment options, access to open recreational space and multigenerational options are among the most popular, Baker says. In contrast, homes with specialized media and workout rooms are less sought after, he says.
While the goal should be to build or remodel so improvements meet an owner's lifestyle and budget, it's smart to know what's desirable. Here's what's currently hot in the home:
Walk-in master-bedroom closets
More closet space, with ample room to move about, contributes to efficiency - especially for homeowners trying to get dressed and out the door in a hurry each morning.
Home offices
With more working from home on a full- or part-time basis, or picking up freelance work, a home office or devoted work area holds allure, Baker says.
Popular porches
Whether at the front of the house or back and whether open air or screened, the iconic porch has become more of a must-have.
Smaller dining rooms
Not yet dead and gone, the dining room is shrinking in many houses or becoming a corner of a living or great room. "It can be located against a wall to designate where it's located," says Melman.
Indoor kitchens only
The outdoor kitchen - one of the housing boom's hallmarks of opulence - has seemed to lost its favor, as it can be expensive to outfit, and, after all, the indoor kitchen may be just steps away. It maintains some value in warmer climates, however, due to its role in enhancing casual living.
Flexible arrangements
With more adults downsizing but wanting to have room for family, rooms that lend themselves to flexible arrangements are key. Fairfield, N.J.-based designer Judi Schwarz suggests pushing a sofa away from a wall so there's space for storage behind or having a banquette by a table to accommodate more at meals.
Energy efficiency
At the top of lists are modern-day standards like good insulation and LED lights with dimmers, plus sustainable features like tankless water heaters, Melman says.
Main-floor masters
The trend continues as baby boomers age and purchase, perhaps, their last new home.
Smaller garages
With folks eschewing massive gas-guzzling SUVs, the demand for the big garage with three bays and storage space is dwindling.
High ceilings
Despite a trend toward smaller homes, ceilings are rising a bit, though not necessarily to former two-story volumes, says Gary Drake, CEO of Drake Construction in Los Angeles.
Striking flooring
Among the hottest choices are pre-finished antique ebony oak, Jerusalem Gold classic limestone, Crema Marfil 18-square stone tiles and natural fiber flooring made from eco-friendly sources such as bamboo, Drake says.
Are you looking for fabulous ways to make your home stand out from other listings? Give us a call at 972.772.7000 or email us at frontdesk552@kw.com.
Monday, April 4, 2011
Why Owning a Home Rocks
Provided By Realty Times
Homeownership has been part of the American Dream for centuries, and it's no wonder why. It rocks.
First, owning a home is an investment. No, it's not a sure-fire way to get rich-quick. It is a long-term investment. Over the course of many years, even through times of economic upheaval, you can build wealth over time.
An average appreciation rate during normal times is around 6.5 percent a year. That means if you buy a home for $100,000, in just ten years you will have a home that could feasibly sell for around $174,000.
During that time you build equity, as well. Equity is the value of your property minus what you owe. So even if you still owe $60,000 on your home after 10 years, you will now have $114,000 in equity. Many homeowners use this equity to take out loans to use for home improvement projects, such as adding on new additions.
Owning a home also comes with less tangible benefits. Studies have shown that it creates a sense of community, motivating community involvement. And family stability is manifested through higher graduation rates and lower crime rates.
When you own a home, you take control of the creation of your surroundings. You can paint, make updates, and style the home to your liking -- all things not possible with most rentals.
You have even further stability when you have a fixed-rate mortgage. A fixed-rate means your rate will never increase. This means you will know the cost of your mortgage for the life of the loan. There won't be any surprises, which is what caught many homeowners off guard during the sub-prime mess. And there aren't any worries about the cost of rent going up each year. You can budget for life!
Don't forget about those great tax breaks, such as deducting your mortgage interest, and tax credits, such as money back for making energy efficient upgrades!
And of course, just think of all the fun times you can have with your family and friends. Memories will be made that will last a lifetime!
Would you like to know more reasons why owning a home in Rockwall ROCKS! Call us at 972.772.7000 or email us at frontdesk552@kw.com.
Homeownership has been part of the American Dream for centuries, and it's no wonder why. It rocks.
First, owning a home is an investment. No, it's not a sure-fire way to get rich-quick. It is a long-term investment. Over the course of many years, even through times of economic upheaval, you can build wealth over time.
An average appreciation rate during normal times is around 6.5 percent a year. That means if you buy a home for $100,000, in just ten years you will have a home that could feasibly sell for around $174,000.
During that time you build equity, as well. Equity is the value of your property minus what you owe. So even if you still owe $60,000 on your home after 10 years, you will now have $114,000 in equity. Many homeowners use this equity to take out loans to use for home improvement projects, such as adding on new additions.
Owning a home also comes with less tangible benefits. Studies have shown that it creates a sense of community, motivating community involvement. And family stability is manifested through higher graduation rates and lower crime rates.
When you own a home, you take control of the creation of your surroundings. You can paint, make updates, and style the home to your liking -- all things not possible with most rentals.
You have even further stability when you have a fixed-rate mortgage. A fixed-rate means your rate will never increase. This means you will know the cost of your mortgage for the life of the loan. There won't be any surprises, which is what caught many homeowners off guard during the sub-prime mess. And there aren't any worries about the cost of rent going up each year. You can budget for life!
Don't forget about those great tax breaks, such as deducting your mortgage interest, and tax credits, such as money back for making energy efficient upgrades!
And of course, just think of all the fun times you can have with your family and friends. Memories will be made that will last a lifetime!
Would you like to know more reasons why owning a home in Rockwall ROCKS! Call us at 972.772.7000 or email us at frontdesk552@kw.com.
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