Homeowners Make it Personal When They Can't Move When Planned

Provided By Realty Times

More than one in four homeowners plan to stay in their current home as many as 20 year longer than planned and that's fueling a trend in personalized home improvements.

The National Association of the Remodeling Industry (NARI) says personalizing spaces is a better alternative than fretting over market conditions that ruin plans to move.

NARI said 26 percent of those surveyed in an online NARI.org poll said they plan to stay an additional 16 to 20 years in their homes because home values decreased during the downturn. Another 23 percent said they'd stay put 6 to 10 extra years.

"This is very telling of what homeowners are experiencing as a result of the recession," says NARI National President Dean Herriges, also with Urban Herriges & Sons in Mukwonago, WI.
"Because many homes have recently decreased in value, people are deciding to stick it out for much longer than they had originally planned," Herriges added.

But that's sparked a new remodeling trend that appears to help soothe those bruised hopes - personalized spaces. Homes that better reflect individual lifestyles are better suited as housing for the long haul.

"Remodeling used to be about increasing resale value - making improvements that are appealing to the majority of buyers in order to boost the value of the home," Herriges says.
Not any more.

Man Caves for all The idea behind the Man Cave has a more universal appeal.
"More and more people are throwing out the resale theory and making specialized improvements that suit their needs and their needs only," he added.
It's not just fancy fabrics, finishes and window covers or a n
ew round of the latest appliances. Think caterer kitchens, real work-at-home headquarters, tech centers, 3D home theaters, art rooms, vehicle collection garages, wine cellars and tasting rooms, mini micro breweries, meditation rooms, yoga studios, dog spas, built-in teppanyaki grills, sewing rooms and more, according to NARI.

The spaces are limited only by imagination.

However, Herriges cautions homeowners to make the customizations an accurate reflection of their lifestyle, not just a whimsical remodeling fling triggered by boredom or frustration.
"Make sure that whatever your adding is going to be something that you really intend to use, otherwise the space will end up being underutilized and make you unhappy," Herriges says.
And if you are already living in you home longer than planned, you don't need any help with being unhappy.

Happy Memorial Day!

And I'm proud to be an American,
where at least I know I'm free.
And I won't forget the men who died,
who gave that right to me.
-Lee Greenwood

Rockwall Summary

Provided By Trulia

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Why Spring Listings Blossom

Provided By Realty Times

Nature is in full bloom across the nation. Many of today’s homeowners are unaware that Spring can be the ultimate time to list a home for sale. From beautiful lawns to temperate weather it’s prime time to lure in buyers.

Spring offers up a wide array of natural beauty. Green lawns, budding roses, and fragrant blossoms treat the eye and nose at every turn. This particular Spring, however, has a leg up on previous years.
Interest rates are still near historic lows, hovering well below 4.0 percent for the 30-year fixed rate mortgage. This translates to favorable terms for eager buyers.

Jobs have begun to return in sectors all across the economy, which equals into a larger pool of eligible and willing buyers. Finally, as home prices have stabilized more homes are now within reach of more buyers. Affordability rates are at generational highs.

Are you a seller who will be looking to buy? Today’s market conditions make for a great time to buy and move up (if you have equity built in your home). Let Springtime showcase your home in the most natural light and “spring” a buyer into action.

Need a reason for selling this season? Consider nature’s paintbrush. Curb appeal is your home’s first impression. Many designers create this by painting the front door or a home or adding a punch of color with , but Spring means that your punches of color need not end at the front step.

Add flower beds around your mailbox, trees, and some to line your walkways. Prune back trees and shrubs to give a neat and orderly appearance.

Finally, take a good, hard look at the exterior of your home. Spring is a good time to break out the paint and give your home a few touch ups. Clean out gutters and clean up any trash.

Next, consider the beautiful weather. Who wants to look at houses during ice and snow? Okay, so there are plenty of buyers who brave those elements, but having an open house or showing during beautiful Spring weather is always a plus. Instead of too hot or too cold your guests will be just right.
Finally, most families prefer to pack up kids when school is taking a break. That means they want to move during the Summer months. What does this mean for sellers? It means families are looking to buy in the Spring. This gives them plenty of time to look at homes and then go to closing, which can take from a few weeks to over a month.

Springtime is full of new growth opportunities. So, stop and smell the roses ... and list that home for sale!

A Buyer's Wish List

Provided By Realty Times

It's always good to have a map when you're traveling unfamiliar roads. It's easy to get lost or to make a wrong turn. Having a good map is doubly important when you are traversing the roads of real estate.

Having a real estate wish list ready before you venture into the market will help you avoid impulsive decisions, delayed decision making, and spending too much time looking at homes you'd never consider.

Everyone wants something a little different when it comes to their dream home. Some people must have beautiful hardwoods while others prefer carpet. Some buyers want a home in a great school district while older couples may prefer to be near their favorite restaurants or theaters.
Having a wish list is a great way to give your real estate agent a good idea of what you want. This will mean they can show you only the best homes for your needs.
What sort of items should you add to your wish list? Consider the following items:

Home Type: Are you a condo, townhome, or single-family detached kind of buyer? There are great resources all over the web that can show you the pros and cons of each of these living situations. What's right for one buyer may not be right for another. Condos are great for those looking for low maintenance homes. A townhome can give you lots of space, but you better like stairs! Single-family homes comes in all shapes and sizes. What one are you looking for?

School preferences: Do you have children or plan on having them in the near future? Many cities have excellent schools, while some districts have some schools that stand a home

Neighborhoods: Whether you want a quiet suburban neighborhood or a bustling walkable downtown spot, there's something for everyone. Some people want to have a prestigious zipcode or a home in a gated community with a strict HOA. Do you want to stay in your current neighborhood or near family?

Home Condition: Some buyers want a home that is move-in ready. They don't want to mess with messy repairs. Does this sound like you? Are you instead a buyer looking for a deal on a fabulous home that just needs a little work? A fixer-up might be more your speed.

Architectural Style: Do you love the sprawling one floor plan of a Ranch style home? Does a charming French Country style home tickle your fancy? An easy way to learn more about home styles is to look at home plans online.

Home Features: This is where you can really have some fun! Consider the following and what features are most important to you: garage, great room, formal dining room, mudroom, butler's pantry, home office/study, built-ins, master suite, first-floor master, floor-to-floor carpet, outdoor living space, stainless steel appliances, granite, and other finishes.Once you've written out your wish list, give some real thought to what items you're willing to compromise on. You may prefer to have a corner lot, but if an otherwise perfect home comes along without the corner view would you be willing to put in an offer?
You may want a move-in ready home, but if you see a great home with a stellar price that needs an updated kitchen would you make a move?

Five Musts Before You List Your Home

Provided By Realty Times

We all know the social benefits of owning a home. Homeownership gives family stability, creates lower high school dropout rates, and of course gives the opportunity to create meaningful and lasting relationships.

In addition to these great pluses, owning a home can be your largest financial asset.

First, you'll have access to homeowner tax breaks, which include the mortgage interest deduction (MID), property tax deduction, and credits for green-friendly updates to your home.

What all of these deductions mean is you can save money on your taxes each year. That's money back in your pocket. Additionally, the eco updates you do will save you money in the long run on operating costs of the house. Some of these great updates can include energy efficient windows and doors, and solar panels.

You may have heard that real estate is a good investment. You may also be wondering if that is still true when home values are declining. The truth is that real estate has always been a good “long-term” investment.

The fact that many people were making bank by buying and selling real estate in the mid-2000's was more of a fluke than the norm. Twenty to fifty percent appreciation rates are not the norm. In general, during healthy economic times, appreciation averages four to six percent. The National Association of Realtors (NAR) reports that from 1972 to 2005 appreciation averaged 6.5 percent.

Today's home prices are still declining, but financial experts predict this will abate in the next year or so and yearly appreciation rates will return.

As you begin to see appreciation, you'll start to earn equity. This is one of the biggest advantages homeownership has over renting. Renting means paying money to the landlord. Once that rent check is written that money is gone. As you pay your monthly mortgage payment you're building equity. You will one day soon owe less than the home is worth. The difference in between is equity.

Homeownership also gives you a certain financial freedom and stability. You can take out a home equity loan for improvements or if you need some cash. You can sell your home down the road and use those profits towards retirement, a dream home, or even a dream vacation.

Homeownership is a great way to introduce long term stability to your life, even in uncertain economic times. Today's historically low interest rates and low prices mean now is a great time to make an investment in your future.

Keller Williams Realty International Employees and Real Estate Agents To “Green” Local Low-Income Housing Development

Provided By KW Blog

Last year, the Keller Williams Realty International Support Center participated in RED Day by beautifying and restoring the grounds at the Mary Lee Foundation, a private, non-profit service provider, specializing in residential treatment and vocational services for persons with disabilities. And though the odds were against us, with a torrential downpour of epic proportions – we managed to make a huge impact. Bu the work wasn’t done.

This year, more than 250 volunteers from KWRI in partnership with the Austin SW Market Center are heading back to the Mary Lee Foundation to finish the work we started!

In addition to deep-cleaning, beautifying, and making repairs that will improve the quality of life for residents, we are also taking steps to “green” our RED Day, such as:

• - Using low VOC paint, CFL light bulbs, low-flow showerheads and eco-friendly cleaning supplies
• - Performing energy-saving tasks such as cleaning air vents and refrigerator coils, re-caulking and installing weather-stripping where needed
• - Water-saving landscaping and installing drought-resistant plants.
• - Asking volunteers to reuse bring from home such as rags for cleaning and refillable water bottles to help stay hydrated
• - Encouraging volunteers to carpool
• - Providing residents with  laminated cards to serve as quick, visual reminders of all items that can be recycled

None of this would be possible without the help of several Austin-based companies. First, we’d like to thank TreeHouse, an Austin-based home improvement company dedicated to helping people improve the efficiency, health and sustainability of their homes, for donating/discounting products to be used in the residences. Kevin Graham, VP Marketing and Co-Founder of Treehouse says,”We are especially thrilled to be a part of Keller Williams Red Day. The combination of the Keller Williams team with TreeHouse products is a recipe for some very positive change at a very deserving place. Thanks for letting us piggy-back on a wonderful effort!”

We are also grateful to Elizabeth Frisch, Director of Development at A Nurtured World/1houseatatime, and to Pat Rist, Owner/Operator of AtticDr.com, andWilliam Marshall with Austin Auditors. Each of these individuals donated their time and services by performing detailed walkthroughs of the Mary Lee Foundation buildings and noting opportunities to improve sustainability. William says, “Keller Williams RED Day brings together hundreds of people to help the Mary Lee Foundation. I wanted to be one of those hundreds of people helping out because Keller Williams’ RED Day is a truly worthy project helping out a remarkable organization in the middle of Austin.”

We’d also like to thank Whittlesey Landscape Supplies for providing four yards of crushed granite to beautify the courtyard and Office Max for donating their printing and laminating services to produce the recycling guides for the residents at Mary Lee Foundation. Budget/Avis Car Rental will also be instrumental in feeding our big team!

Seduce Buyers With The Master Bedroom Suite

Provided By Realty Times

Kitchens and bedrooms are both very important rooms in a home. It's in these two rooms where our basic needs are satisfied but they are also areas of a home that attract buyers for more than just what's done in these rooms: eating and sleeping. The master bedroom suite and the kitchen can be used for multiple purposes.

If your home has a master bedroom suite, a room large enough to allow space for more than just a bed and a couple of dressers, then it can be decorated to highlight other activities like a reading nook or a meditation setting.

In the kitchen, as I've written about in previous columns, it's not just how functional it is for cooking meals that appeal to buyers. Instead, they also want to see that the kitchen can be a comfy gathering place where the cook can have guests huddle around over a glass of wine while the meal is being fixed.

The common denominator, as you might well be able to see, is that homes must have gathering spaces where family and friends can come together, like in the kitchen-great room extension–a wide open area (formerly a living room but now opening into the kitchen) that unites the rooms and the company in them.

But conversely, homes also need privacy. Spaces that are like sanctuaries and escapes for the people living in them. A place for individuals to take a break, even from the other members living in the home. Thus the master bedroom suite is so much more than just a "bedroom".

It can be a place of refuge. A place to unwind and re-energize for another busy day. In a master bedroom suite, you have the ideal opportunity to create an atmosphere that allows you to see the bedroom as more than just a sleeping area.

Master bedroom suites can be very appealing to buyers if they're nicely decorated. However, sometimes sellers will use the extra space in a master bedroom to store things they love but that aren't appropriate in the minds of most buyers.

What do I mean? I did a walk-thru with a designer who was pointing out the pros and cons of home that the seller was getting ready to put on the market. There was a big beautiful master bedroom suite. Your eye was drawn to the bright (pink, red, white) colors. Architecturally, the master bathroom flowed seamlessly into the master bedroom suite but then your vision stopped abruptly at the large, protruding drum set. Yes, drum set, in the corner of the master bedroom that overlooked a beautiful valley. Unfortunately, you couldn't really see the valley and its lush trees because of the drum set that blocked the window.

So, you get my point. This was a good example of what not to put in your master bedroom. Yes, the rare drum enthusiast may argue this issue but most would not think that a drum set belongs in the master bedroom suite.

When you're staging your home for sale, you're staging it for the masses, not the rare exceptions.

Here are a few quick pointers. Go with colors you like but try to keep it to no more than three or four. Any more than that and the room can look a bit kaleidoscopic. Keep the colors all flowing and harmonizing unless you have a very compartmentalized master bedroom suite. Then you can separate the areas using different colors like entering a different room but if the areas can be seen from any one standing point, make sure they blend.

Use lighting and mirrors to evoke emotion, depth, dispersion of light, and interesting views. This also creates a greater brightness and cheery look. Decorative lighting is also good in large rooms.

Remember the key to good decor that appeals to buyers is to keep the room comfy, simple, and not overly crowded. And, even though you're selling the home, you might just find that style of decor is also attractive to you. It's just that the day-to-day living often imposed piles, boxes, and added "stuff" that accumulates and sometimes doesn't find the appropriate "home" until it's time to move.

Making your master bedroom suite seductive will surely create a compelling reason for a buyer to consider making an offer.

Survey Reality: Is What I See, What I Get?

Provided By Realty Times

As I stand on my front porch admiring my small, but spectacular, spring garden, nestled under my two towering spruce trees, I am very wrong about everything I see.

 

Most of my urban garden - plants, trees, rocks, retaining wall… - is not “mine," but the government's.
The first 30 feet or so in from the street belong to the city even though I am charged to look after this land. I'm caretaker of the retaining wall, trees, and plants, but not owner of the land they occupy.
 
The actual property line marking the limit of my ownership is not the street curb that I consider as delineating what's mine from public property. My ownership begins at an invisible line called the street line, not visible to anybody, but a surveyor. (In different jurisdictions, this ownership demarcation may have a different name, like building line.)


The marked line, running left of the hedge on Edith Avenue and parallel to it, is the street line.
©Copyright 2012 Association of Ontario Land Surveyors, AOLS.org Surveyors are not blessed with sci-fi sight that allows them to detect street lines. However, they do have the special knowledge, skills, and technology to carry out the detailed research which reveals street line locations - along with many other things, or improvements - on the land.
 
In Ontario, licensed land surveyors (OLS) are members of the Association of Association of Ontario Land Surveyors (AOLS). The designation requires successful completion of a university program, an articling period, and professional exams.
 
The visual confusion assailing property owners extends to the other property boundaries, too. Fences are taken as identifiers of what's mine and what's not, but their location can only be determined by a surveyor's skill. Are your fences on the property line, or on one side or other of that boundary? Only a survey (more accurately called a plan of survey) can identify exactly where boundaries - and, therefore, fences - are on the land. But a plan of survey's value lies beyond this basic clarification.
 
You think you can count on knowing that you own the buildings on your property, but you can't especially if they are near a property boundary. Once again, only surveyors can confirm that the garage or patio lies entirely within a property, or extends or encroaches on neighbouring land.
 
Even obvious overlaps like eavestroughs require a survey to establish exactly how much of an encroachment is involved. If a gutter or garage extends only a few inches into the neighbouring property, problems can arise. Ever tried to move a garage 6 inches to the left to pacify an irritated neighbour? Mortgage lenders don't like encroachments because they can lead to legal issues which could delay a quick sale should the homeowner default on the mortgage.
 
Title insurance can satisfy lender concerns because this product provides financial compensation for losses, but title insurance may not identify specific problems before closing or offer alternatives. Nor does it certify title in the ways a Surveyor's Real Property Report (SRPR) - considered “the best disclosure of the extent and quality of title" - does through its detailed plan and accompanying written report highlighting the OLS's opinion of any issues regarding title. Purchasers benefit from having the property they buy surveyed to ensure they know what they are getting. There are too many examples of cases, especially in cottage country, where how a property looks is quite different from the way ownership is revealed in a survey.
 
A plan of survey is not created in isolation, but ties the property to others in the neighbourhood, according to the original survey of the area. AOLS Deputy Registrar Maureen Mountjoy, OLS, OLIP describes this as fitting one property into “the fabric or the framework" of a street by researching previous surveys in the area and local details. Mountjoy explains: “You're trying to establish the original intent of the survey, so you can't just survey the property like an island. It has to be in conjunction with everything around it."
 
What are you missing when you stand and “survey" all that you own - or think you do? Perhaps, a plan of survey?
 
Resource - This AOLS brochure provides additional detail on the value of and relevance of plans of survey: Click Here ©Copyright 2012. Association of Ontario Land Surveyors, aols.org

Texas Housing Market Picking Up

Provided By Texas A&M Real Estate Center

The Texas real estate market gained positive momentum in first quarter 2012, according to the Texas Association of Realtors’ latest Texas Quarterly Housing Report, which was issued this week.

For January through March 2012, the volume of single-family home sales in Texas was 45,502, 12 percent more than the same quarter in 2011. The median price for Texas homes during the quarter was $147,100, up 2.7 percent more than a year ago.

Months inventory was at six months. Experts say a 6.5-month inventory represents a balanced market.
Real Estate Center Research Economist Dr. Jim Gaines said he believes several factors are driving the strong performance of the first quarter, including continued job growth in Texas and some increased access to credit for homebuyers.

Most of all, Gaines said there's beginning to be a shift in Texans’ attitudes toward real estate. Essentially, buyers and sellers have higher expectations for the market, so they’re beginning to take action, and the state is starting to feel the impact.

**RED DAY**

Hello Rockwall Community,

We are asking any and all volunteers to help us this Thursday, May 10, 2012 at the Boys & Girls Club of Rockwall! To learn more about how you can give back to your community please call us at 972.772.7000! Thank you!

-Rockwall Cares

"Being good is commendable, but only when it is combined with doing good is it useful."
-Author Unknown

Avoid First-Time Buyer Mistakes

Provided Realty Times

You've finally decided that now is the time for you to jump into the housing market! Perhaps you've done the math and want to take advantage of historically low interest rates and high levels of affordability. Maybe you have a new family that is quickly outgrowing your little rental. No matter the reason, buying real estate is a big responsibility.

 

There are several rookie mistakes that many first-time home buyers can make. Keep reading for how to avoid them!
 
First, first-timers underestimate the importance of finding the right real estate agent. Not all agents are equal. Not only do their experience levels and commission rates vary widely, but every agent has their own unique personality. You want to be sure you find an agent that you feel comfortable with and that you respect.
In order to find the best fit agent for your needs, set up several interviews with local agents. Ask them about their business. Do they have a cell number where you can reach them? Do they web conference on days you can't meet? How often do they send prospective homes to buyers? Be sure to ask for testimonials and references. Finally, just get a feel for how your two personalities will mesh. Does the agent seem to have your best interest at heart? Are they giving you the respect you deserve or treating you like a dunce?
Next, a common mistake for first-time agents is to consider what type of home you want. If you know ahead of time what you are looking for, the price range, as well as what you're willing to compromise on, you'll be much more likely to make a decision quickly about buying a specific home.
 
This is important for two reasons. You don't want to make an impulsive decision, but you also don't want to wait so long that someone else swoops in and buys the house before you can make an offer!
 
The third mistake is not considering that a home is an investment -- one where you don't want to lose your shirt down the line. Is this home priced right? Compare it to other similar homes. Is this home in a desirable location or is it next to a busy street, etc? Will is require a lot of work? When you go to resell this home, you want to make a profit or break even.
 
You'll need to consider that you'll probably pay an agent a commission and will be paying closing costs at selling time. This is extra money on top of what you need to make on the sale of the home to break even.
Most experts say you need to stay in a home for at least 3 to 5 years in order to break even. This time frame could be even longer if home values continue to fall. Remember, homeownership is a long-term investment
Next, ask your lender lots of questions and be proactive about finding the best deal. Different lenders will offer you different rates. Research your options. Would you be better served with a 15-year or 30-year note?
 
Ask lots of questions about the difference between adjustable and fixed rate mortgages. Learn about points. Find out how much interest you'll pay over the life of the loan. The lender is there to serve you, so don't be shy about getting the information you need.
 
Finally, don't be greedy or low-ball sellers. This may be a buyers market, but if you offer too little or ask too much in concessions you may turn the seller off. They don't have to sell their home to you!
 
Avoid these common first-time buyer mistakes and you're sure to have a fun and rewarding buying experience!