All homeowners have one thing in common - home improvement and
maintenance projects. Whether something breaks, becomes outdated, or
you're ready for a change, certain projects are just a part of owning a
house.
Should I stay or should I go?
So what makes
for a successful home-improvement project? The answer depends on your
intentions. Are you making a change because you plan on living in the
house for a while? Are you upgrading so you can sell soon? Your plans
should affect your priorities and make certain improvements more
appealing.
Where to start?
Whether you're staying for a
while or selling soon, structural and mechanical improvements should
come first. Plumbing and electrical systems should be sound before you
go for a hot tub and modern appliances. What good are new wood floors
if your roof is leaking? Get the point? Is it necessarily interesting
or rewarding work? Not really. Frustrating? Maybe. Trust me, though,
it's the right move.
When you've gotten the infrastructure up to snuff, you can start on more exciting and gratifying improvements.
Home sweet home
If you're planning to stay in
your home for the foreseeable future, the nature of your improvements
is not so much about recovering money as it is about a higher quality
of life. Want to get rid of a small bedroom and create a big master
suite with two walk-in closets and a hot tub? Go for it!
Even if you're not planning on selling anytime soon, though,
keep in mind that the longer you stay in your home after a project is
complete, the less likely you are to recoup a high percentage of the
project's cost.
Make buyers want your home
If you're improving
the house with a goal of a short-term resale, some improvements are
more appealing to buyers and, as such, offer a higher return on your
investment.
It's also worth noting that while you may not get a
dollar-for-dollar return on the sales price, a quicker sale can save
you thousands of dollars.
Now, there are no guarantees on recuperating costs when you
sell, so I strongly suggest doing lots of research. Use the Internet to
see what other homeowners are doing and what their experience has been.
Go to open houses in your neighborhood. Consult your Realtor. The more
information you have, the better off you'll be. In general, I find that
most buyers value kitchen upgrades, bathroom upgrades and increases in
livable space. It's not only my years of experience that lead me to
believe this. Data from various sources show that people want these
areas to be comfortable, functional, attractive and durable.
How much you'll recover in costs depends on several other
factors, as well. These include the big-picture condition of the
housing market, the value of the homes in your immediate area, when you
plan on selling and the type of projects you undertake.
How much is too much?
For a short-term sale,
make sure you don't overdo your improvements. If you put in
top-of-the-line appliances or light fixtures, you're most likely going
to recover a lesser percentage than the seller who went with brand new
mid-range appliances or fixtures.
Guidelines for remodeling
Curb appeal is
important, and easy fixes like fresh paint and exterior improvements
like landscaping are simple ways to instantly improve the appearance of
any house. First impressions stir potential buyers' emotions as they
evaluate homes. Curb appeal also encourages prospective buyers to come
inside to see your new wood floors, updated kitchen and remodeled
master bathroom.
Who, me?
After you decide what kind of
improvements you're going to do, the next step is deciding who's going
to do it. Some people are adept at home improvement, some are not. You
probably know which category you're in.
Safety is a factor as well. If you're going to tackle the
project yourself, exercise caution - working on a ladder or dealing
with electricity are not jobs to be taken lightly. If you lack
confidence, find an insured and bonded professional.
Just do it
Whether you want to increase your
living space, avoid the expense of moving to a pricier neighborhood,
make a needed or wanted upgrade, prolong your home's life or achieve a
good return on investment, there's no time like the present. Start your
research today.
Whether you're interested in buying your first home, your next
home, or just want to know more about home-ownership in general, I
encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert! You can see my entire blog at http://www.pearlandrealtyblog.com
My column was also published in the 28June09 edition of the Galveston County Daily News
Pearland TX; Home for sale, 2201 Washington Irving, Pearland Real Estate
• 3,535 sq. ft., 2 bath, 4 bdrm 2 story "Mother-in-law quarters too"
-
MLS®
- Priced to Sell
Sleepy Hollow, Pearland TX
-
Incredible custom-built 2 story home on over-sized corner wooded lot in coveted area of Pearland. Recently remodeled, new roof, energy friendly a/c & beautiful landscaping. Home features all oversized bedrooms up, with master down. The kitchen begs for a cooking enthusiast; the downstairs is an entertainer s dream. Utility area is the size of some bedrooms with incredible storage, wonderful natural light and a craft area. Mother-in-law quarters over detached garage that could also be used for reantal income. Easy access to 45 & Btwy 8. MOVE IN READY.
Property information
Sleepy Hollow, Pearland TX
-
Announcing
2201 WASHINGTON IRVING DR, a 3,535 sq. ft., 2 bath, 4 bdrm 2 story "Mother-in-law quarters too". Now
MLS®
- Priced to Sell.
Property information
Personal and home security is a concern whether you're old or young,
single or married a parent or not. Protection of self and property is a
fundamental component of feeling safe, and this is especially true in
our homes. So, if you're in the market to buy a home, be mindful of
security during your search.
Searching for your new home
It's likely that
you will evaluate different neighborhoods as you look for you next
home. Do your research to find areas that appeal to you. In addition to
relying on your Realtor's expertise, go online and look around.
http://www.HAR.com is an excellent resource. Many neighborhoods have
Web sites, e-mail groups or discussion forums that offer helpful
information about the area. You can also use the Internet to review
crime statistics and search for sex offenders.
Other considerations are more in your direct control - things
that are already present on the property or that you can change after
you take possession of the house. Generally speaking, criminals will
select the house that presents the least risk of being caught. Homes
with easy access, substantial cover and good escape routes tend to be
more common targets.
Simple ways to tighten up
Evaluate points of
entry to the home. Solid-core or metal doors are preferable, as are
keyless deadbolt locks. Also check to see if there are windows near the
doorknob; a thief could smash the window, reach in and unlock and open
the door. Look at the condition of the door jamb … should it be
replaced? Do all the locks on the windows work? Sliding glass doors and
sliding windows should have functioning latch locks, but a
through-the-frame pin is a decent hindrance to a potential thief, as is
a charley-bar. Unsecure garages are also a common access point. Does
the entrance to the house from the garage have a good door with a solid
locking mechanism?
If the home does not have heat- or motion-activated lights
outside, consider installing them. A potential thief may be dissuaded
from entering your home simply based on the fact that the automatic
lights around the property remove his cover as he approaches.
Let the pros handle it
You might
consider a security system. If the home is not pre-wired or does not
have an existing system, you could spend a substantial amount to get
one installed, although most insurance companies offer an attractive
discount for such a setup. If there is an existing system, determine if
all windows and doors are monitored and see if the installed equipment
includes a motion sensor and a battery backup. Some systems can even
detect smoke, heat, fire and carbon monoxide. Find out whether the
system you're looking at has that capability.
Good fences make good … security
Fences
not only cut off easy escape routes, but also can provide a degree of
privacy and restrict unwanted access. Additionally, if there's a lot of
pedestrian activity in the neighborhood, a property without a fence may
get pass-through traffic. If you have children, a fence provides a safe
area for them to play.
With an enclosed back yard, you may even consider getting a
dog. While big dogs are usually more intimidating and more of a
stereotypical watch dog, any barking dog can be effective at giving
warning that something is out of the ordinary. Plus, you can hang a Beware of Dog sign, which may act as another deterrent.
Minimize your risk
Everyone has
different definitions of and expectations about safety. After all,
what's "safe" to one person may be far too risky for someone else. One
thing's for sure, though - we all want our home, our possessions and
most of all, our lives to be as secure as possible.
When searching for a home, consider personal and home
security. You may not be able to find a home that offers every
conceivable security feature, but you can make improvements. Anything
that makes your house less of a target will reduce your risk and give
you increased peace of mind.
Whether you're interested in buying your first home, your
next home, or just want to know more about home-ownership in general, I
encourage you to check out a couple of great online resources:
http://www.texasrealestate.com/ or
http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at
http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert! You can see my entire blog at http://www.pearlandrealtyblog.com
My column was also published in the 21June09 edition of the Galveston County Daily News
There's no question about it: nationwide foreclosures are up,
particularly in Nevada, California, Arizona, Michigan, Florida and
Colorado. Although we can be grateful that the Lone Star State is not
currently near the top of this list, there are Texans facing foreclosure.
No one buys a home with the intention of falling behind on
payments and facing foreclosure proceedings, yet it happens. Even when
the nationwide picture is much rosier than it is today, some homeowners
find themselves in this unenviable position. Here are a few tips to
avoid this scenario, and what to do if it occurs.
Don't set yourself up for failure
There are two
main ways to lessen the likelihood of foreclosure before you're even in
the house. First, don't put yourself in a situation where you won't be
able to afford your mortgage. Just because the mortgage lender approves
you for a loan at a certain amount doesn't mean you can actually afford
the payments on that loan. If you know how much you can afford before
you start shopping for a home and stick to that price range, you're
taking a big step in the right direction.
Second, it's vitally important that you have a solid grasp on the
details of your loan. Some people get into trouble because they don't
fully understand their obligations regarding their home loan. There are
many types of loans where the payments for the first year or first few
years are much lower than the amount you will pay in the following
years. When you're shopping for the loan, ask the lender about how
various loans work, and make sure you understand the payment structure
of each and how it may change.
Could it happen to you?
Unfortunately, bad
things sometimes happen to good, hard-working people. Injuries or
illness, accidents, unforeseen economic circumstances, unemployment and
other factors can hinder the ability of a homeowner to pay his or her
lender. Many people do not have sufficient savings accounts and cannot
afford to miss even one paycheck without facing considerable struggle.
If you find yourself in a bad spot, take a hard look at
items you spend money on that you can do without. Cable is great, a
night on the town is fun, and eating out is convenient, but keeping
your home should take priority over those types of expenditures
What to do
If you face the prospect of missing a
monthly payment on your house, do not be embarrassed. Instead, contact
your lender as soon as you're aware your payment will be late. Also, if
your lender attempts to get in touch with you, never
ignore those phone calls or letters. If you're elusive, unresponsive or
seem disinterested, your lender will be less willing to work with you.
A HUD-approved counseling agency can work with you and your
lender and may be able to negotiate a repayment plan. You can call
(800) 569-4287 or go online at HUD.gov (search the term HUD approved counseling) for the counseling agency nearest you.
Beware of sharks
In addition to legitimate
companies and agencies that can help you, there are scam artists out
there. They may tell you that they can stop the foreclosure by signing
a document that authorizes them to act on your behalf. Make sure you
read and understand any document presented to you - you may be signing
over your title to the house, and before you know it, you are a renter
in the home you formerly owned! Stay away from companies that promise
you swift, effortless results by paying them a large fee - this is
usually evidence of a scam.
Get back on track
Facing the possibility of
foreclosure is stressful. However, if you understand this risk, you can
take steps to avoid it before you even buy a home. Should you ever find
yourself behind on your payments, though, there are resources to help
you get back on track. As a real estate professional, your Realtor
understands the entire homebuying process and can discuss options
available to you.
Whether you're interested in buying your first home, your next
home, or just want to know more about home-ownership in general, I
encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert! You can see my entire blog at http://www.pearlandrealtyblog.com
My column was also published in the 14June09 edition of the Galveston County Daily News
Silverlake, Pearland TX, Real Estate for Sale - Announcing a price reduction on 3418 WOODBINE PLACE, a 3,363 sq. ft., 3 bath, 4 bdrm 2 story. Now MLS® #90389165 $272,000 - Priced to Sell and Move in Ready. Call me today to schuled and appoitment
http://www.har.com/90389165
Property information
The
rising cost of energy is a concern for all of us. And I'm not just
talking about what we pay at the pump. Energy prices affect how much we
spend on almost everything we buy. That includes the electricity and
natural gas we use to power, cool and heat our homes. It even can play
a role in the price you pay to purchase a home or how much you can
fetch when you sell.
For buyers
Buyers are still looking at all the usual factors in selecting a home;
considerations like schools, bedrooms, bathrooms, and closet space -
those things won't change. Recently, though, increasing energy costs
have prompted consumers to place more emphasis on the proximity to
desirable locations and the energy efficiency of the homes they find.
For
many families, utility bills and pressure at the pump amount to
substantial expenditures that are often overlooked in affordable
housing decisions. Choosing a less expensive home that's 10 miles
farther from work or one with lower energy-efficient qualities may
actually cost you more over time and could even jeopardize your ability
to afford the home. Talk about diminishing returns!
If
you find a home that piques your interest, see what you can find out
about the average energy costs for that property. Two seemingly similar
houses can have large discrepancies in heating and cooling costs,
especially if one was remodeled with energy efficiency in mind.
What
about transportation costs? How would living in this home affect your
commute and errands? Is public transportation available? Living just 10
miles farther away from a five-day-per-week job adds up to 100 miles
per week. That's at least one extra tank of gasoline per month. These days, that can add up to a few thousand dollars over the course of a year.
For homeowners and sellers
Energy-efficient homes are less expensive to run, more comfortable and have a higher resale value.
If
you're interested in making energy upgrades to your home, consider
having a Home Energy Rating audit performed. A home energy rating
system (HERS) report is a review of your home's efficiency prepared by
a trained professional.
In
this audit, a certified home energy rater will check insulation levels,
window efficiency, the integrity of the ducts, ventilation, weather
stripping, the HVAC unit, the water-heating system, appliance
efficiency, climate considerations and other components of energy
efficiency. The results of the report show opportunities to increase
efficiency.
Is
your home already energy-efficient and on the market? If so, you have
an attractive selling point. If you're trying to sell your home and
haven't made any energy improvements, it's possible the house down the
street has that advantage over yours. A prospective buyer may feel
she's getting more for her money at the other house, due to the
anticipated savings of a smaller utility bill.
Energy-efficient mortgages
A HERS rating can also be used to help a buyer or homeowner qualify for financing options like an energy-efficient mortgage.
In
new construction, the HERS rating verifies that the home and appliances
are energy-efficient, and the borrower qualifies for a higher amount
based on projections of low energy consumption.
For
existing homes, a buyer or owner can use an energy improvement mortgage
to purchase or refinance the property. After the certified rater makes
suggestions for efficiency upgrades, the estimated costs of these
improvements are rolled into the loan. Once the projects are complete,
the lender pays for the work out of an escrow account. So, even though
the monthly payment to the lender is slightly higher, you would realize
an advantage through lower utility bills.
Who can help?
There are Realtors who specialize in "green" real estate. Many of them
have earned the EcoBroker designation, which teaches real estate
professionals innovative energy, environmental and other green
strategies. Additionally, some Realtors have attained an affordable
housing certification - Texas Affordable Housing Specialist - which
includes a course on green technology's effect on housing affordability.
Whether you're interested in buying your first home, your next
home, or just want to know more about home-ownership in general, I
encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert! You can see my entire blog at http://www.pearlandrealtyblog.com
My column was also published in the 17May09 edition of the Galveston County Daily News
You’ve
finally arrived at the decision to buy a home. Now you face the choice
between buying a newly-constructed or an existing home.
There are advantages and disadvantages to each option, so the
decision may not be an easy one. No matter which way you go, you’ll
probably end up making a few tradeoffs. In the end, choose the type of
home that makes the most sense for you, your lifestyle and your
upcoming plans.
You will sell someday
From an investment standpoint, it’s wise to think about the future
when you’re buying. After all, you’ll be the seller one day and you
want to get the largest possible return on your investment.
What if, for example, a home is one of the first in a new
subdivision. As other houses are still being built, short-term resale
of a two-year old house can be difficult. Given two similar choices in
the same neighborhood, most buyers opt for a brand new house as opposed
to one that’s been lived in. Additionally, builder incentives can make
the new home down the street more attractive to buyers.
This typically changes as the neighborhood matures and the builders clear out.
That’s a big closet
It’s not all about the investment, though. You have to live in this
home. Central air, large pantries, walk-in closets, multi-car garages,
more and bigger bathrooms and other contemporary amenities are more
common in newer homes. There are not many 40-year-old homes featuring a
master suite with a spa and two walk-in closets.
New homes are also built with infrastructure tailored to modern life
- like having more electrical outlets or being pre-wired for security
or Internet.
Additionally, there are stricter building codes and significant
advances in construction materials and techniques. These improvements
result in safer and more energy-efficient homes.
Also, the builder may offer customization options, like color
schemes, flooring, kitchen cabinets or appliances, that allow you a
degree of personalization. Existing homes were built and designed to
someone else’s standard and taste, which is bound to be different from
yours.
On the flip side, many older homes have a charm from the period
during which they were built. That’s not easily replicated in a new
home. Some older homes sit on larger parcels of land than the lots
common in most new subdivisions. You also may find an existing home
that has been remodeled in a way that suits your needs perfectly.
New doesn’t mean perfect
Home maintenance comes with homeownership. There is no house that is
maintenance- or defect-free - ven brand new homes. In fact, it’s not
uncommon to find at least one construction defect that must be
addressed in a brand new house. So, if you do opt for a new home, make
sure you understand the warranty and the process for identifying and
fixing problems.
If the ‘hood fits …
The neighborhood should be a significant part of your decision.
Think about what you value - school district, proximity to your
workplace, and day-to-day convenience are common concerns for most
people, but your list may vary.
You’ll find that many residential builders acquire large tracts of
land (usually far away from the center of the city) and starting a
subdivision from scratch. It’s more cost-effective to lay
infrastructure and build if there are no obstacles. So, if you happen
to be partial to large trees lining the streets, an older neighborhood
may be more your style.
Some new communities also initially lack services like nearby
grocery stores, shopping or other things that you take for granted in
established areas.
When can I move in?
If you purchase a home before it’s completed, builder delays or
other holdups could prevent you from moving in on schedule. This may
end up being no big deal, but if the timing’s wrong, you may have to
find a temporary solution while the setbacks are resolved. This may
mean delaying closing on the sale of your current home, finding a place
to rent, staying with friends or family or placing your belongings in
storage.
Talk to someone who can help
When you’re deciding between a newly built home and an existing
home, decide based on your family’s needs. A Realtor can help you sift
through the options. Sit down with him and let him know what’s
important to you and your family.
Whether you’re interested in buying your first home, your next home,
or just want to know more about home-ownership in general, I encourage
you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert!
My column was also published in the 17May09 edition of the Galveston County Daily News
The Pearland TX real estate market continues to shine very bright.
Looking at the trends over the last 2 years, you can see the Pearland
TX housing market is doing better than ever. In April 2007 the average
sales price was at an all time high of $192000 and in April 2008 the
average sales price jumped to $203000 and in April 2009, Pearland is
setting new records with an average sales price of $210000. So the
average sales price in Pearland TX is up $18000 in the last 3 years...
Now I will say the Pearland TX real estate market has slowed in volume.
So what does that mean? It means that not as many houses are selling or
for Sale. Pearland only has about 3.9 months of inventory to sell at
this time and is what is driving up the price. Before Ike hit our area,
we had almost 11 months of inventory in the Pearland market. In looking
at the chart below, you can see the Pearland real estate market is vey
healthy. The DOM or Days on Market is averaging 76 days. Compared with
the national average of 180 days, Pearland is doing great.
Now let's look at the absorption rate of real estate in the Pearland TX
housing market. What you want to see in this chart is residual
inventory falling and homes under contract and new listing trending
upwards. And as I see it, the Pearland market is doing just that and in
a big way.
So what does this mean for the person wanting to buy or sell real
estate in the Pearland TX area? It shows you NOW is the best time to
buy or sell real estate and a lot of people are doing just that...
Donald Trump and Dave Ramsey both said last week on Fox news that this
is the best time to move real estate in the last 20 years...
Whether you're interested in buying your first home, your next
home, or just want to know more about home-ownership in general, I
encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert
Southdown, Pearland
TX -
The single story at 3306 Southmere Lane has been sold.
Property information
Danny Frank has SOLD another house in Pearland.
Call him today to get your house sold... 713-569-8102
This story starts
out at the NAR Midyear Conference and Board Meeting and WCR event in
Washington DC May 11-16, 2009. After a very long week at the trade
show, this flight attendant, Debbie Terrago did something I think needs
to be brought to everyone’s attention. You see this flight attendant is
also a fellow Realtor® and because of her, a completely full 737, was
able to continue on to Houston... One of the flight attendants, working
the flight became very ill right after takeoff and could not work the
flight... and federal rules require 4 flight attendants on this flight.
I am sure Debbie
was as tired as I was after a long week at the NAR Meetings and was
probably looking forward to just kind of sitting back and relaxing....
But she did what a good Realtor® and flight attendant always does; she
got the deal done....
You see, Debbie
volunteered to work the flight back to Houston so we would not have to
return to Washington DCA and pick up another flight attendant. Everyone
at both Continental Airlines and the entire Continental flight 1059
owes Debbie Terrago a debt of gratitude. And I just want every Realtor®
& future client to know, she will work for you and will get the job
done.
Thanks again for working the flight so we could go home.
Whether you're interested in buying your first home, your next home,
or just want to know more about home-ownership in general, I encourage
you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert!
• 3,363 sq. ft., 3 bath, 4 bdrm 2 story
-
MLS®
$279,999
- Priced to Sell - Won't last long... Call me for an appointment: 713-569-8102
Silverlake, Pearland
-
IMPECCABLY MAINTAINED & DECORATED, STUNNING FLOOR TO CEILING, RUSTIC STONE FIREPLACE, HARDWOODS IN ENTRY, GIGANTIC BACKYARD W/ROOM FOR A POOL
Property information
Silverlake, Pearland
-
Announcing a right priced house for sale
on 3418 WOODBINE PL, a 3,363 sq. ft., 3 bath, 4 bdrm 2 story. Now
MLS®
$279,999
- Priced to Sell -
Property information
Everybody makes mistakes. After all, we're only human. Some mistakes are bigger than others, though, especially when it comes to the real estate market. Make a mistake on either the buying or selling side and it could end up costing you a pretty penny in the long run. Here are some tips for you to ponder:
Remove emotion
Buying or selling a home should be like any other business transaction: clear, concise and without emotion. This sounds like common sense, but as they say, home is where the heart is. Making an impulsive decision when caught up in the moment could cause big problems later. Buyers and sellers will often make emotional decisions that cost them money and time, so having a third-party like a Realtor to balance things out is a wise move. Be sure to stick with tough standards when selecting a Realtor, just as you would when hiring an attorney, your child's pediatrician or an accountant. Smart up-front decisions will pay off at closing day.
Base asking price on market value
Many sellers base their asking price on how much they paid for or invested in their home, but this can be an expensive mistake. If your home is not priced competitively, buyers will reject it in favor of larger homes for the same price. At the same time, the buyers who should be looking at your house won't even see it because it's priced over their heads. The result is more time spent sitting on the market, and the perception that you're selling a house that nobody wants.
Dress up (your home) before you go out
A house with overgrown shrubbery, tires in the front yard and old lawn furniture strewn about is a huge red flag for the buyer. While that description of disarray might be a little extreme, keep it in mind when you get your home ready to sell. The bottom line is that sellers who don't make repairs and who don't clean the house inside and out repel buyers.
Don't overdo it
On the flip side, don't make the mistake of overdoing upgrades, especially if you think you'll recoup the cost. The real benefit of home improvement is making the home more marketable, not a dollar-for-dollar return. This is where a real estate professional's advice can come in very handy. Don't misunderstand - I'm not saying avoid improvements, I'm saying avoid making the wrong improvements or out-improving your neighborhood. Consult with your Realtor before making any big or expensive changes.
The first of many?
The first offer you get may be the best you get, so don't discount it. Sometimes, sellers believe that the first offer they get will be one of many to come, but are disappointed when a higher offer never occurs. Remember that your property is usually at its hottest early in the selling process; after that, its appeal can diminish over time. The phrase "get it while it's hot" definitely applies here.
Know the true value
Before you make an offer to buy, you need to know what the market value of the home is to make sure you're not overpaying for it. Your Realtor can help you analyze the market, often by looking at recent sales prices of similar homes in your area of interest.
Upon further inspection
Buying a home is certainly one of the biggest purchases you'll ever make, and it's a decision that's often made after spending only 30 minutes or so looking at the home. That's why an inspection is crucial, whether the home is brand new or 100 years old. Your Realtor can recommend several inspectors and will help negotiate if any repairs need to be made prior to closing.
Get your finances in order
Knowing how much you can afford to spend goes a long way toward peace-of-mind when you're looking for that dream home. And getting pre-approved by your lender before you start looking will put you way ahead of other offers on the table - especially if those buyers still need to obtain financing.
Follow these tips and the dream of homeownership - or selling your house quickly and for the highest possible price - will be yours. All it takes is a little common sense and being aware of potential pitfalls when it comes to buying and selling real estate.
Whether you're interested in buying your first home, your next home, or just want to know more about home-ownership in general, I encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert!
My column was also published in the 26April09 edition of the Galveston County Daily News
How has the Internet changed our world? That’s an historic question with a constantly changing answer. We have instant access to huge amounts of information, with more being created every day. We can read the latest news headlines, collaborate and communicate with people around the world, conduct business, check stock prices, watch video, listen to music, play games, and research anything that comes to mind – at any time of the day and without leaving our desk!
Not your parents’ home search
The Internet is also largely responsible for dramatic changes in the real estate industry. What’s the most significant difference? Research shows that almost 80 percent of recent homebuyers relied heavily on the Internet to conduct their home search. This is a definitely not the way our parents and grandparents looked for a property. I see this as a positive thing. It saves everyone a great deal of time and makes the house-hunting experience much more efficient for the homebuyer.
Got a question?
http://www.HAR.com is one of the nation’s preeminent real estate Web sites, offering valuable, readily available data for the entire greater Houston area. I’m not just talking about searching homes for sale. You can estimate the value of a house, research demographics, assess schools, learn about communities, and even get satellite imagery of a neighborhood or a house. The best part is that these services are free.
If you’ve searched online for real estate information recently, you’ve probably noticed the proliferation of real estate-related blogs. Blogs are a great source of information—places where you can ask questions, interact with experts, and find data that’s already been deciphered and analyzed. And bloggers will engage almost anyone about almost anything. Want to know where the best hamburger or pizza in your new town is? How about the return on investment for stainless steel kitchen appliances when remodeling or selling a home?
Don’t believe everything you read
It’s not just trade-specific sites that affect the industry. National news media continue to be obsessed with doom-and-gloom real estate coverage. There’s certainly no shortage of negative publicity about the industry: stories about foreclosures and real estate’s ties to the national economy are widespread. Bad news sells, and the national outlets’ content reflects it. This is especially true on Web sites—there are no true space constraints, authors are not confined to traditional publication schedules and deadlines, and readers have the ability to post their comments on stories.
Know the source
With all these streams of information, there’s no question that anyone, especially someone who’s not in the real estate industry, could easily suffer from information overload. What’s the worst part of that? A lot of that information is extraneous, erroneous, or simply invalid in our market.
As a buyer, seller, or homeowner, you may find it hard to know who to trust. Much of the information on the Internet is written authoritatively and wrapped in a pretty package, which lends instant credibility, sometimes without good reason. So what’s true? What do you really need to know? As a trusted adviser, a Realtor can help you navigate the modern real estate transaction, sift through all the data and arrive at good decisions.
The industry has changed, but ultimately, the job of a Realtor is the same: to help you with the process of buying or selling a home. It’s what we do. The Internet has added a new dimension to the real estate world, and it’s made many aspects of the real estate transaction easier, quicker and more transparent. More data and solid research make for a more involved and informed buyer, which are positive consequences of today’s Internet-based real estate tools. Be aware, though, that all that available information has added a level of complexity to the process as well.
Whether you're interested in buying your first home, your next home, or just want to know more about home-ownership in general, I encourage you to check out a couple of great online resources: http://www.texasrealestate.com/ or http://www.har.com/ and for all of your Pearland TX and Northern Brazoria and Galveston County real estate needs, please visit my site at http://www.danfrankrealty.com/. All of these sites offer tons of useful, real estate-related information geared specifically for Texans.
Danny Frank is a local Pearland TX Real Estate expert!
My column was also published in the 19April09 edition of the Galveston County Daily News