Remodeling Decisions that Add Value to Your Home: Historic Connection

If you are planning a remodel, consider keeping the original design features of your home.  Historic elements contribute to an enduring style and will be more valuable to buyers if you decide to sell.

A sense of historic connection is valued by buyers. Build your improvements around the best original features of the home. Historic features endure and will give a sense of timelessness to your home. People love clues to the past. Don’t be afraid to blend old finishes with modern ones. The one-of-a-kind, eclectic look is much desired, instead of a mass produced sameness. Sometimes folks rip out interesting old finishes and replace them with bland, standard issue cabinetry or tiles. They miss the chance to create a truly unique combination of new and old.

Wood windows and doors, period door knobs, old stone steps, original baseboards, and refurbished fixtures can add a touch of historic significance to your home. People are delighted by retro bath tiles combined with a splash of new wall color. Consider working with the old fireplace tile or stone before tossing it into the dumpster. Retro wallpaper can be a great find. These touches of original character can be incorporated into your design to create a unique final product.

The Craftsman style, built in the early 1900’s, is in very much demand. Rustic stonework, deep eaves, tapered columns, stained woodwork, and wide trim reflect the handmade look that people love.

Farmhouses are a great style choice for today. Reclaim the basics of this style – simple floor plan, hardwood floors, wood windows, local stone, and muted colors that connect with nature. Like farm buildings, the rooms are informal, somewhat sparce and provide just what is needed.

Younger folks are breathing new life into their parent’s ranch style and split level houses from the 1950’s and 1960’s. Mid-century modern furniture, paint colors, fixtures, and rugs are all the rage, and help to bring this style back into top form.

Urban modern has been around since the 1950’s, with experimental use of space, color, glass, plastic and metal. Simplified spaces with clean lines and fresh colors are an antidote to today’s complex lifestyle.

When planning a remodel, take care to reinforce and build on the design strengths that it already has. Your results will achieve greater value and stand the test of time.

Austin Texas Real Estate Guide

Posted via email from roselind-hejl’s posterous

How to Show Your Home: Should You Stick Around?

This is a blog series on preparing for a successful showing of your home for sale. In a slower real estate market, sellers cannot afford to ignore any part of the marketing process. Price, preparation, and presentation must be compelling in order to attract a buyer.

The price must be set realistically. Preparation should be complete – with paint touched up; space de-cluttered; floors clean or updated; and glaring repairs handled. And, presentation should be meticulous – with drapes open; lights on; interior immaculate; and lawn mowed.

Now you are ready to show your home. This is the final step in winning the heart of a buyer. A call for a showing is an expression of interest in your home. The potential buyers are clearly interested in your neighborhood, and have most likely seen your home on line. They are willing to invest their time for a visit. It is worth the effort to make each showing one that will be remembered.

Should You Stick Around?

Generally, it is not a good idea to be present for the showing. Remember that this is not a social visit. Most buyers will feel that they are intruding on your privacy if you are in the house. They may shorten the time spent in your home. Or, they may not be able to discuss your home as freely as they might have. If it is difficult to leave, you may sit outside or take a short walk.

Sometimes sellers try to offer certain information, and they inadvertently turn the buyer off. It is best not to make assumptions about what the buyer wants. Keep in mind that buyers are there to make a big decision. They need some time to experience your home on several levels. If it passes the first test, there will be time to communicate how many water heaters you have and other facts about the house.

I recall one showing in which the seller questioned the buyers about whey were looking for.  This is not an easy question to answer.  They are figuring this out as they absorb the inventory.  In another case the seller actually grilled the buyer on his reaction to every room, and then argued about it.

It was a relief to leave.

Austin Texas Real Estate Guide

How to Show Your Home – Is Your Home safe for visitors?

This is a blog series on preparing for a successful showing of your home for sale. In a slower real estate market, sellers cannot afford to ignore any part of the marketing process. Price, preparation, and presentation must be compelling in order to attract a buyer.

 

The price must be set realistically. Preparation should be complete – with paint touched up; space de-cluttered; floors clean or updated; and glaring repairs handled. And, presentation should be meticulous – with drapes open; lights on; interior immaculate; and lawn mowed.

 

Now you are ready to show your home. This is the final step in winning the heart of a buyer. A call for a showing is an expression of interest in your home. The potential buyers are clearly interested in your neighborhood, and have most likely seen your home on line. They are willing to invest their time for a visit. It is worth the effort to make each showing one that will be remembered.  

 

 

Is Your Home Safe for Visitors?

 

Remember that showing your home is going to interfere with your day to day life.  You will need to prepare for some inconvenience and intrusion into your privacy.  Consider the safety of your visitors.  There may be seniors as well as small children walking around your home.

Is there a statue or tall lamp that could easily fall if touched?  Are there wires at ground level that could trip someone?  Are there rugs that tend to slide?  Are stair and upper level railings safe for small children?  (Or, could a child fall through?)  Could a visitor be bitten by a bird or other animal?  Are the stairs free of small toys?  Are traffic patterns open between rooms?  Are there rotten deck boards that could give way?

Also consider your own security and privacy.  Put away valuable possessions.  Do not leave money, guns, jewelry, x rated magazines or any personal items in public view.  Do not leave breakable objects where they could be accidentally bumped.  Move your medicines to a secure location.  Do not leave bleach or poisons in reach of children.  Do not leave candles burning when you leave the house. 

Having your home on the market will most certainly involve some changes in your lifestyle.  Your home will be a product on the market, open for viewing.  Consider the safety of visitors who will be in your home, and safeguard your own possessions.  Take precautions during the showing process to make your home safe for visitors.    

   Roselind Hejl’s Austin Texas Real Estate Guide

How to Show Your Home – Is Your Home Easy to Show?

In a slower real estate market, sellers cannot afford to ignore any part of the marketing process.  Price, preparation, and presentation must be compelling in order to attract a buyer. 

The price must be set realistically.  Preparation should be complete – with paint touched up; space de-cluttered; floors clean or updated; and glaring repairs handled.  And, presentation should be meticulous – with drapes open; lights on; interior immaculate; and lawn mowed. 

 

Now you are ready to show your home.  This is the final step in winning the heart of a buyer.  A call for a showing is an expression of interest in your home.  The potential buyers are clearly interested in your neighborhood, and have most likely has seen your home on line.  They are willing to invest their time for a visit.  It is worth the effort to make each showing one that will be remembered.  This is a blog series on preparing for successful showings of your home for sale.

 

 

Is your home easy to show?

 

If possible, schedule showings in the same way that is used by a majority of the homes in your area.  This may be by special appointment or by a lockbox system.   Remember that this will be the buyers’ first contact with you.  Your response should set a positive tone.  Go out of your way to make the buyers and their agent feel welcome.  Some home sellers set out a plate of cookies or small bottles of water and soft drinks.  This sends a wonderful message that visitors to their home are welcome and appreciated. 

 

Be as flexible on timing as possible.  Consider that buyers may be viewing many homes over a large area.  They may be dealing with traffic, children’s needs, etc.  It is often difficult to make precise appointments.  If extra timing flexibility is needed, you could wait until they arrive before leaving your home.  Welcome them at the door, and then leave by car or take a short walk.

 

 

You may get an occasional last minute call for a showing.  The buyers and agent may already be in front of your house.  If this happens, start by thanking the agent for the interest, and discuss how to proceed.  You have three choices:  Welcome them in right then; ask for some time to get ready; or let them know that the time simply will not work.  The important thing is to keep a friendly, professional attitude. 

 

I can recall instances in which the seller came to the door in a hostile way and demanded to know why we were 30 minutes late.  Or, the buyers sensed that they were inconveniencing the seller or their agent by asking to see the house.  Most people have a strong reluctance to intrude or bother other people.  Remember that the decision to buy a home is emotional response.  Don’t create a negative response before your potential buyers come in the door.  Make your home easy and pleasant to show.

 

Austin Texas Real Estate Guide 

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Austin Real Estate Market

The  Austin real estate market is considered one of the best in the country.  Our real estate market is supported by a fundamentally strong job market.  Job growth is driven by an educated work force, reasonably priced housing, and the overall desirability of  as a great place to live and work.  Over the past year, several studies have confirmed this: 

First, the Milken Institute, an economic think tank, placed Austin-Round Rock #4 on their list of top performing cities.  They looked at where jobs are being created in America, plus salary growth, high tech output, and other factors. 

Second, Forbes Magazine said:  “This state capitol is a hip area on the rise.” Forbes placed Austin #2 on their list of Best Cities to Buy a Home, and #3 on their list of Most Recession Proof Cities. 

And, third, American Business Journals analyzed employment trends in the nation’s 100 largest labor markets, and placed  in the #2 spot.Austin

Fortunately, Austin did not have the escalation in home prices that happened over the past five years in many cities.  In the years from 2000 to 2004,  was recovering from the dot.com bust of 2000.  The dot.com implosion was fairly localized, and many parts of the country did not experience it.  However, the  real estate market suffered through loss of jobs, reduction in demand for homes, high inventory levels, and little appreciation during that time. AustinAustin

When the Austin real estate market began to gain momentum in 2004, builders responded by increases in inventory.  This kept demand and supply in balance in suburban areas where lots were available.  In central Austin, an area where the supply of homes is traditionally tight, we did have some double digit appreciation.  This led to a surge of new construction by small home builders and remodelers.  However, for Austin as a whole, home price appreciation in the peak year of 2007 was about 7%.  This is up from our usual 5%-6%.

During 2008, in response to the national credit crisis, the  real estate market slowed down.  Home sales dropped by about 20% in 2008, compared with the previous twelve months.  This is not a bad thing.  A reduction in momentum will bring demand and supply back into balance.  And, a market with balanced supply and demand forces will have price stability.  Builders have slowed construction, and are selling their existing inventory.  Of course, neighborhoods where there is a current oversupply of homes will have longer marketing times during the next year, as their inventory whittles down.     Austin

A true picture of the condition of the market is revealed by the number of months of inventory on the market for sale.  Currently, we have about 6 months of inventory on the market, averaged for the Austin area as a whole.  This means that, given the sales rate of the past 12 months, it will take about 6 months to sell the current inventory.  Six months of inventory is considered a balanced market.  Since 1990, the inventory of homes for sale in Austin has been in the range of 4 – 6 months, most of the time.  In the peak of the dot.com boom (early 2000) we were down to about 2 months of inventory, and in the worst of the dot.com bust (mid 2003), we averaged just over 7 months of inventory. 

Of course, inventory levels vary throughout .  There are localized differences by neighborhood and by price range.  Areas that have high numbers of homes for sale are often the more popular neighborhoods where builders anticipated strong demand.  These neighborhoods are going to be buyer’s markets in the near future, but they will eventually lower their inventory.  When this happens, builders will come back, and start the cycle again.  This has happened before.  Austin has a resilient real estate market. Austin

Certainly, the financial uncertainty on Wall Street has created a lull in the real estate market.  When the national economy stabilizes, we will see some pent up demand for homes.  The important thing is that Austin has good market fundamentals.  This has been acknowledged by study after study.  Market slowdowns have happened before, and the Austin market has come back strong.  Today we are down from a couple of peak years.  We are settling into a normal, balanced market.  And we know that there are lots of folks who have jobs, good credit, and cash for a down payment who want to enjoy living and working in Austin.   

Austin Texas Real Estate Guide 

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