Pearland Real Estate Expert

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What’s it worth to you?

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 Whether something breaks, becomes outdated, or you’re ready for a change, certain projects are just a part of owning a house.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

 

 

1 comment • Danny Frank • June 28 2009 08:03AM

Pearland TX: 2201 WASHINGTON IRVING DR in Sleepy Hollow

 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

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

1 comment • Danny Frank • June 27 2009 07:51AM

Keep safety in mind when buying a home

 

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

1 comment • Danny Frank • June 23 2009 06:43PM

Preventing Foreclosure

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

1 comment • Danny Frank • June 14 2009 11:02AM

Pearland TX: 3418 Woodbine Place, Silverlake 77584

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

0 comments • Danny Frank • June 12 2009 07:50AM

Pearland TX - Real Estate Market conditions through May 2009

Looking at the Pearland TX real estate market snapshots, I see wee had a slight downturn in property values for the months of May.  But I also see we sold more real estate in Pearland TX last month than we have since Aug 2008.  So with that being said, I still feel buying real estate in Pearland is a smart buy.  Pearland real estate is still on the increase in value... We are still have a higher sales price than we had 2 years ago.

Pearland Real Estate Market Trends

As you can see from this next chart, the total number of home under contract is on a very steep incline and has surpassed pre-Ike numbers... This is just another key indicator of how strong real estate is in the Pearland TX area.  The Pearland area has more house under contract at the end of May 2009 than it has had in the past 2 years.

Pearland Real Estate Market Trends

Now I want to look at the key indicator of (DOM) days on market and (MSI) months supply of inventory.  This is one way of telling how the real estate market is doing by seeing how long it take to sell a home in a given area like Pearland.  First let's look at the DOM in the Pearland area.  The average DOM in the Pearland area was only 79 days.  Compare that with the national average of over 200 days and for someone trying to sell their home in Pearland, our is outstanding in any market.

Now looking at the MSI, you can see Pearland is doing great in this catogory too...  Pearland's MSI is down to only 3.9 months of inventory.  I believe this is what is driving real estate prices in the Pearland market to hold  on and even grow.  The National Association of Realtor's, NAR says that 6.1 months of home inventory is a natural market and anything below that number is a seller's market and anything above it is a buyer's market... But I think Pearland is just sitting at neutral right now because of the national economy...

Pearland Real Estate Market Trends

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 month 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

0 comments • Danny Frank • June 08 2009 12:20PM

How many miles to the gallon does that home get?

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

1 comment • Danny Frank • June 08 2009 11:01AM