Provided By Realty Times
Deciding whether or not to sell your house can be a trying time. Many questions pervade your mind. "Is now the best time to make a move?" "Will I make money from this sale?" Will a move disrupt my family's routine?" There are numerous factors that come into play when making this decision. Let's look at just a few to consider.
First and foremost, can you afford to make a move? In many areas of the country, home values fell dramatically during the recession. Homeowners across the nation now find themselves owing more than their home is worth. If you find yourself in this predicament, it is probably not the best time for you to move. If you are able to afford your payments and have no fear of defaulting, then it will be best to stick it out for a while longer, waiting for your home to regain some of its lost value.
Along those same lines is the topic of job stability. Do you have money saved for downpayments and closing costs, as well as an 8 month emergency fund should you get laid off?
Next, consider the impact the move will have on your family. Do you have children? Moving during the middle of a semester can be difficult for children. Will you be able to move and stay in the same school district? If not, they will be coming into a new school in the middle of activities, after bonds and friendships have been established. Timing is everything when it comes to moving with children.
Additionally, research has shown that having strong social relationships can lengthen your lifespan. Consider this strongly before you move away from family and friends. Or consider it as motivation for moving closer if you live far away!
What if you need to move for your health. Warmer climates, less humidity, and even a change of settings can be a boost to some people's health. Some seniors find cold winters too hard on their older bodies. A move for health is always a good decision, since without our health we have nothing.
The bottom line is this. Moving means changing routines, hobbies, and even friends. Be sure to evaluate your decision carefully, weighing all of your options, before jumping into a life changing decision.
Do you have questions about selling your home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Friday, December 31, 2010
Wednesday, December 29, 2010
Where does Rockwall rank?
Provided By Michelle Little of Republic Title
Source Dallas Morning News
Below is a graph from the Dallas Morning News – Rockwall’s Median Household income ranks #2 out of the 12 DFW Metroplex counties. Great news!!
Are you ready to purchase your first home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Source Dallas Morning News
Below is a graph from the Dallas Morning News – Rockwall’s Median Household income ranks #2 out of the 12 DFW Metroplex counties. Great news!!
Monday, December 27, 2010
Texas housing market took some hits but is still standing
Provided By Michelle Little of Republic Title
Source Dallas Morning News
By now you've heard about the huge debt problems in Ireland, the protests in London over government cutbacks and the growing financial crisis in Spain.
You can't help but hear about it – on television and every news website. And of course there's the home foreclosure crisis in Florida, cascading unemployment in Michigan. And California is basically broke.
What does all that have to do with Texas? If not for the dire national and international news, we'd be feeling a lot better about our economy and real estate market. Texas is in comparatively good shape when it comes to housing, commercial real estate and unemployment.
But it's hard to feel good about that with all that's going on in the rest of the world.
That's a shame. During the Oil Patch meltdown of the late 1980s, our neighbors to the north and in booming West Coast markets didn't seem to give a whit about our woes here in Texas.
Of course, the downturn is more universal this go-round, and the declines are steeper. But still, the Texas real estate market deserves props for getting through two years of a nuclear economic winter and only catching a cold.
Don't take my word for it. Just this week the Brookings Institution put out its regular economic assessment of major U.S. metro areas, and Texas and Dallas-Fort Worth were near the top of all the lists. D-FW, and most of the other big Texas markets, were included in the top U.S. housing markets during the third quarter, according to the Brookings report. North Texas is among the areas that have seen the smallest home price declines since the nation's housing market fell with a thud.
North Texas also got high marks for being one of the areas with the highest economic output and stronger employment markets.
And D-FW was singled out by Brookings as one of the top overall 20 markets in the country.
The only area where North Texas doesn't outperform the rest of the country is in number of foreclosed homes. And there we are close to the middle of the pack.
Brookings estimates that about four out of every 1,000 D-FW homes with a mortgage is now in lender hands. The average among major U.S. metro areas is closer to six out of 1,000.
So again, things here aren't so bad compared with the rest of the country.
It's just that it isn't easy to get past all the noise about the international financial mess and problems in places like California and Arizona.
And Americans in general – the real estate industry found in a recent survey – are more pessimistic than in previous economic periods.
The weight of all the bad buzz on our real estate market won't be lifted right away.
If you have questions about the DFW real estate market, give us a call at 972-772-7000 or email us at rockwall@kw.com.
But when the chatter about U.S. economic trends improves, don't be surprised if attitudes about Texas' property market turn on a dime. Again, the hole we have to climb out of isn't very deep.
Source Dallas Morning News
By now you've heard about the huge debt problems in Ireland, the protests in London over government cutbacks and the growing financial crisis in Spain.
You can't help but hear about it – on television and every news website. And of course there's the home foreclosure crisis in Florida, cascading unemployment in Michigan. And California is basically broke.
What does all that have to do with Texas? If not for the dire national and international news, we'd be feeling a lot better about our economy and real estate market. Texas is in comparatively good shape when it comes to housing, commercial real estate and unemployment.
But it's hard to feel good about that with all that's going on in the rest of the world.
That's a shame. During the Oil Patch meltdown of the late 1980s, our neighbors to the north and in booming West Coast markets didn't seem to give a whit about our woes here in Texas.
Of course, the downturn is more universal this go-round, and the declines are steeper. But still, the Texas real estate market deserves props for getting through two years of a nuclear economic winter and only catching a cold.
Don't take my word for it. Just this week the Brookings Institution put out its regular economic assessment of major U.S. metro areas, and Texas and Dallas-Fort Worth were near the top of all the lists. D-FW, and most of the other big Texas markets, were included in the top U.S. housing markets during the third quarter, according to the Brookings report. North Texas is among the areas that have seen the smallest home price declines since the nation's housing market fell with a thud.
North Texas also got high marks for being one of the areas with the highest economic output and stronger employment markets.
And D-FW was singled out by Brookings as one of the top overall 20 markets in the country.
The only area where North Texas doesn't outperform the rest of the country is in number of foreclosed homes. And there we are close to the middle of the pack.
Brookings estimates that about four out of every 1,000 D-FW homes with a mortgage is now in lender hands. The average among major U.S. metro areas is closer to six out of 1,000.
So again, things here aren't so bad compared with the rest of the country.
It's just that it isn't easy to get past all the noise about the international financial mess and problems in places like California and Arizona.
And Americans in general – the real estate industry found in a recent survey – are more pessimistic than in previous economic periods.
The weight of all the bad buzz on our real estate market won't be lifted right away.
If you have questions about the DFW real estate market, give us a call at 972-772-7000 or email us at rockwall@kw.com.
But when the chatter about U.S. economic trends improves, don't be surprised if attitudes about Texas' property market turn on a dime. Again, the hole we have to climb out of isn't very deep.
Friday, December 24, 2010
Pros and Cons of Condo Living
Provided By Realty Times
As purse strings tighten across the nation, and aging boomers enter retirement, many homeowners are making the decision to downsize. One popular choice among consumers is condominiums.
Here are some pros and cons of condo living to consider before you make a move.
Pro
1. Affordability: Are you looking to buy in a specific neighborhood? A condo allows many buyers to live in a desired location, even if they can't afford a single family home.
2. Amenities: Many condominiums come with access to such things as fitness centers, pools, and club houses.
3. Low Maintenance: While you are still responsible for the inside upkeep, outdoor and community features such as the roof, foundation, sidewalks, pool, and yard are covered by the association. This means no mowing the yard in 100 degree heat!
4. Reserve Fund: The condo association collects funds and keeps them in reserve for larger repairs and upgrades needed down the road. If your association keeps accurate surveys and books, this means there should be no surprise expenses.
5. Safety: Many condos offer gated parking, security guards, and even doormen.
Con
1. No Storage: You may find the rare condo that offers access to storage lockers, but condo living generally means no storage. If you have items that will need stored, be sure to include a storage facility rental fee into your budget.
2. Lack of Privacy: You will most likely have neighbors upstairs or down, or at the very least right next door. Some people love the sense of community this creates, though!
3. Monthly Association Fees: Nearly all condo units require you pay a monthly fee that pays for upkeep around the community. This means even if you own your condo free and clear, you are still responsible for monthly fees.
4. Rules: Who likes to follow the rules?! But kidding aside, many condos have strict rules about guests, noise, decor, and even subletting.
5. No yard: While some homeowners love the idea of no yardwork, others enjoy planting and growing. Most condos have very little outside space, apart from small patios.
Be sure to take these elements into consideration when deciding whether a condo is the home choice for you.
Do you have questions about renting vs buying? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
As purse strings tighten across the nation, and aging boomers enter retirement, many homeowners are making the decision to downsize. One popular choice among consumers is condominiums.
Here are some pros and cons of condo living to consider before you make a move.
Pro
1. Affordability: Are you looking to buy in a specific neighborhood? A condo allows many buyers to live in a desired location, even if they can't afford a single family home.
2. Amenities: Many condominiums come with access to such things as fitness centers, pools, and club houses.
3. Low Maintenance: While you are still responsible for the inside upkeep, outdoor and community features such as the roof, foundation, sidewalks, pool, and yard are covered by the association. This means no mowing the yard in 100 degree heat!
4. Reserve Fund: The condo association collects funds and keeps them in reserve for larger repairs and upgrades needed down the road. If your association keeps accurate surveys and books, this means there should be no surprise expenses.
5. Safety: Many condos offer gated parking, security guards, and even doormen.
Con
1. No Storage: You may find the rare condo that offers access to storage lockers, but condo living generally means no storage. If you have items that will need stored, be sure to include a storage facility rental fee into your budget.
2. Lack of Privacy: You will most likely have neighbors upstairs or down, or at the very least right next door. Some people love the sense of community this creates, though!
3. Monthly Association Fees: Nearly all condo units require you pay a monthly fee that pays for upkeep around the community. This means even if you own your condo free and clear, you are still responsible for monthly fees.
4. Rules: Who likes to follow the rules?! But kidding aside, many condos have strict rules about guests, noise, decor, and even subletting.
5. No yard: While some homeowners love the idea of no yardwork, others enjoy planting and growing. Most condos have very little outside space, apart from small patios.
Be sure to take these elements into consideration when deciding whether a condo is the home choice for you.
Do you have questions about renting vs buying? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, December 22, 2010
CURB APPEAL IS KING, NAR STUDY FINDS
Provided By RECON
Nine of the top ten most cost-effective projects in terms of value recouped are exterior replacement projects, according to the National Association of Realtors 2010–11 Remodeling Cost vs. Value Report.
Among the report's findings:
The steel entry door replacement is the project that returned the most money, with an estimated 102.1 percent of cost recouped when the home is sold.
The midrange garage door replacement is expected to recoup 83.9 percent of costs.
Upscale fiber-cement siding replacement was deemed the most cost-effective among siding projects, recouping 80 percent of costs.
Upscale vinyl window replacements were expected to recoup the most among window replacement projects, at 72.6 percent.
Wood decks tied with a minor kitchen remodel for the fourth most profitable project, recouping an estimated 72.8 percent of costs.
Meanwhile, here's what the study found inside the house:
An attic bedroom addition costs more than $51,000 and recoups an estimated 72.2 percent.
A basement remodel costs more than $64,000 and recoups an estimated 70 percent.
Improvement projects that are expected to return the least are a midrange home office remodel, recouping an estimated 45.8 percent; a backup power generator, recouping 48.5 percent; and a sunroom addition, recouping 48.6 percent of costs.
In addition, the study found that Texas was among the regions that were consistently estimated to return a higher percentage of remodeling costs when a home is sold.
Are you ready to sell your home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Nine of the top ten most cost-effective projects in terms of value recouped are exterior replacement projects, according to the National Association of Realtors 2010–11 Remodeling Cost vs. Value Report.
Among the report's findings:
The steel entry door replacement is the project that returned the most money, with an estimated 102.1 percent of cost recouped when the home is sold.
The midrange garage door replacement is expected to recoup 83.9 percent of costs.
Upscale fiber-cement siding replacement was deemed the most cost-effective among siding projects, recouping 80 percent of costs.
Upscale vinyl window replacements were expected to recoup the most among window replacement projects, at 72.6 percent.
Wood decks tied with a minor kitchen remodel for the fourth most profitable project, recouping an estimated 72.8 percent of costs.
Meanwhile, here's what the study found inside the house:
An attic bedroom addition costs more than $51,000 and recoups an estimated 72.2 percent.
A basement remodel costs more than $64,000 and recoups an estimated 70 percent.
Improvement projects that are expected to return the least are a midrange home office remodel, recouping an estimated 45.8 percent; a backup power generator, recouping 48.5 percent; and a sunroom addition, recouping 48.6 percent of costs.
In addition, the study found that Texas was among the regions that were consistently estimated to return a higher percentage of remodeling costs when a home is sold.
Are you ready to sell your home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Subscribe to:
Posts (Atom)