Stop Thinking About It And Just Do It!!!

After thoroughly enjoying reading my friend Kerrie McLoughlin's blog (http://thekerrieshow.blogspot.com/), I thought "Stop Thinking About Blogging And Just Do It!!!" Now I realize I may not have as humorous a story as she...heck, when there are four little children around, there is bound to be a funny quote or story...but, possibly I might have something from my 18 years of real estate that someone might find interesting.

Most recently my son, Thomas, and his new wife, Amanda, purchased their first home. As clients, they were wonderful to work with. When looking at a property they would look for the "potential". Now this might not sound like something to point out but it is. See, most buyers today cannot see beyond what they are looking at...they cannot see the potential of what a bit of work and effort would do to improve a property. Too much of that instant gratification mentality. Not so with Amanda and Thomas. They truly have an attitude that anything worth having is worth working for.

With the help of their lender, Ed Rafferty (http://www.capfed.com/home/fiFiles/static/documents/Ed_Rafferty.pdf), and Capital Federal's Purchase + Improvements Loans they were able to purchase a home that had the potential of being lovely.

'A Purchase + Improvements loan allows you to buy the house you want and make the improvements with one mortgage loan. You may use your Purchase + Improvements for any improvements or permanent additions. You don't have to wait to make improvements, and you'll enjoy lower monthly payments compared to a separate home improvement loan. You simply submit your bids for the improvements at the time of the loan application, and Capitol Federal will appraise the house taking your bids for improvements into consideration. This allows you to borrow for your improvements now by taking advantage of the higher improved value.'

Well, Amanda & Thomas have moved into their home. The remodeled kitchen and refinished floors are beautiful. To date the interior painting is a work in progress...they choose to do that themselves...and once it is complete, the house will look nothing like the home they purchased. The cool thing is that they took a toad and turned it into the prince it was waiting to be.

Oh, by the way, if this is something you or someone you know would like to do, give me a call. I'll be happy to follow up and take excellent care of you/them.

Jacqueline McCroy Elbert

913.647.7162

http://www.searchhomeskansascity.com/

Homes & Universal Design

Here are just a few of many universal design features that are rising in popularity among homeowners:
-One-step entries
-One-story living
-Wider doorways and hallways
-Lever handles instead of doorknobs

Originally conceived in the 1970s to provide disabled people with a “barrier-free” lifestyle, today universal design is embraced by people of all ages and physical abilities who seek greater convenience, comfort and safety in their homes.

It’s a trend that’s expected to grow, too.

Architectural experts say that as baby boomers age, the bending, stretching, climbing and toting that have traditionally been part of independent living will only focus attention on the benefits of universal design, and provide a distinct advantage to the homebuilders, remodelers and real estate professionals whose service includes universal design expertise.

http://www.realestateforspecialneeds.com/

Advantages of Remodeling Now

Rising energy costs and a middling economy have dampened consumer confidence, but for many homeowners, recent adjustments to the market may actually have a silver lining. For homeowners who've been looking to make updates to their property, there are a number of reasons that make this an attractive time to tackle a remodeling project.

Lower Costs

While it's unlikely that a contractor will offer to remodel your bathroom or finish your basement for fifty cents on the dollar, many are offering deals to encourage homeowners to invest in their services. Some companies are offering rebates or discounts to attract business. Others are simply more open to negotiating the bottom line. Generally speaking the better deals are for smaller projects, but exceptions can be found.

Shorter Waits, Faster Timelines

With new construction slowing in many areas and fewer homeowners funneling money into their own remodeling projects, many contractors have more time to take on new work. In years past homeowners often had to take a spot at the end of the line with their contractor of choice, as many companies had a backlog of work. In some cases start dates were set weeks or months out, and the total timeline for a project could be extensive if the contractor was working multiple projects at once.

Today, many companies are more able to schedule projects to begin in the short term. Timelines too are becoming more flexible.

Hiring the Best

During periods of construction boom, the average homeowner can have a tough time securing the services of the best local contractors. At those times the consumer has to compete for the contractor's business. While the situation is not completely reversed today, the average homeowner does stand a much greater chance of hiring a top-notch remodeling contractor than would have been possible even a year or two ago. Quality contractors are looking for new avenues of business, even if it means taking on minor jobs that may not have been on their radar in the recent past

Market Trends

I am licensed in Kansas and Missouri and I mainly sell in Johnson County (Kansas) and Kansas City, Missouri. In Johnson County for the month of March (2008) 131 new homes sold with an average sale price of $372,438. In comparison to the same time last year, 162 new homes sold with an average sale price of $391,355. That is a 19.7% drop in sales and a 4.8% drop in average sale price. In the resale market there was a 14.28% drop in number of homes sold in March 2008 as compared to March 2007 but a 2.45% increase in the average sales price. So, when combining the new home sales and the resale, there was a 15.26% drop in sales and a .38% drop in average sale price.

Looking at Kansas City, for the month of March (2008) 60 new homes sold with an average sale price of $310,767. In comparison to the same time last year, 113 new homes sold with an average sale price of $245,061. That is a 46.9% drop in sales but a 26.8% increase in average sale price. In the resale market there was a 17.73% drop in number of homes sold in March 2008 as compared to March 2007 and a 9.2% drop in the average sales price.

To checkout homes for sale in my area please go to http://www.searchhomeskansascity.com/

4 Ways To Add Value To Your Home

With resale in mind, there is a right way and a wrong way to add value to your home.

1. In an increasingly energy conscious world, going solar for electricity can save money while you live in the home and be more desirable when you go to sell.
   
2. When comparing to otherwise equal homes, a multi-room audio systems may make your home more preferable.
   
3. Adding or updating a home security system is often a good way to increase your home's resale value.
   
4. While it may not add dollar value to a home, a home theater system can add a "coolness factor" that will make your home appeal to the right buyer at the right time.
   

Here's the caveat: Be careful not to go to techie. Too many expensive toys may create a home that is too far out of the typical price range of the neighborhood.

If you have questions, just give me a call (913.647.7162) or drop me an email.

http://www.searchhomeskansascity.com/

What About Foreclosures?

The following is an email I received from a client:

Dear Jacqueline,
I had a question, what about looking at foreclosed homes? What are your thoughts? Mary

Well Mary, when it comes to foreclosures there are pros and cons to these properties.

The pro is that the bank is not in the business of holding onto properties so often they are priced more reasonably.

Cons are that the person did not have money to keep up with the mortgage and most likely did not keep up with the care and maintenance of the property. Also, there are times that the people who had the home, being upset with the pressures of their failing finances, may have done damage to the property prior to leaving.

One more thing…banks sell these homes “as is” with no disclosures or warranties. Here is the but…But, you may have inspections and if you find that there is more there than you want to tackle then you may cancel the contract and get your earnest money back.

If you guys go in knowing that you are going to have to do work then let’s give it a shot.

http://www.jacquelineelbert.com/

Non-toxic Spring Cleaning!!!

With Spring just around the corner the urge to open the windows and do a good house cleaning is great. This year rather than using toxic chemicals try making your own nontoxic cleaners at home.

▪ All-Purpose Cleaner: Mix 1/2 cup vinegar and 1/4 cup baking soda into 1/2 gallon water. Great for removing water deposit stains in shower stalls, on chrome bathroom fixtures, windows, bathroom mirrors, etc.

▪ Air Freshener: Baking soda with lemon juice or dried lavender in small dishes absorbs odors around the house without dulling your sense of smell. On the other hand, commercial air fresheners coat nasal passages and mask smells to diminish the sense of smell.

▪ Disinfectant: For wiping surfaces mix 1/4 cup borax into 1/2 gallon hot water.

▪ Bathroom Mold: Mold in bathroom tile grout is a common problem and can be a health concern. Mix one part hydrogen peroxide (3%) with two parts water in a spray bottle and spray on areas with mold. Wait at least one hour before rinsing or using the shower.

▪ Carpet Cleaner: Mix equal parts white vinegar and water in a spray bottle. Spray directly on stain, let sit for several minutes, and clean with a brush or sponge, using warm soapy water.