Kent Redding / Broker Austin Texas Real Estate 512.306.1001's Blog

Preventative Home Maintenance

Wed, 26 May 2010 07:49:25 -0700

Most of us have learned the hard way that a home will not maintain itself and we ought to budget for routine maintenance and repair for the house and yard. High cost, irregular expenses will occasionally occur as our homes age. Expenses such as interior and exterior painting, repairs or replacement of the heating and air conditioning units and appliances, floor coverings and roof surfaces can often surprise you.

Experts recommend setting aside 1-3 percent of the market value of your home each year to pay for maintenance and repair costs. Even though all of these funds may not be needed if your home is new, the accumulated amounts will help you prevent a budget crisis when it is time for large future expenses such as re-roofing or replacing a heating unit. Preventative home maintenance helps provide a healthy, safe environment and it protects your growing investment. We suggest having a qualified home inspector inspect at least every ten years.

Some Suggested May Home Maintenance Items

1 .Mark and monitor small/hairline cracks in foundation. If stable after a few months fill with epoxy. If they've expanded beyond one half inch, call a structural engineer.

2. Inspect crawl spaces for seepage/leakage.

3. Inspect roof for any missing, loose or damaged shingles.

4. Check and clean AC/furnace systems. Follow the manufacturer's recommendations

5. Clean and/or replace the AC/furnace filters. Adjust thermostats for season change.

6. Check and clean gutters, downspouts and extensions and repair/replace as needed

7. Do a safety check: smoke detectors, fire escape routes, fire extinguisher, carbon monoxide alarms and window locks.

8. If you have a fireplace check flue to make sure it is closed for warmer weather.

9. Scrape, caulk and paint any wood surfaces that have peeled or weathered.

10. Clean and inspect windows, windows sills and caulking.

Whoa...Don't toss that paint

Wed, 06 May 2009 07:49:58 -0700

In the world of real estate with clients and friends moving in and out of their homes, wondering what to do with those cans of unneeded paint and that private stash of old batteries taking up space is a common issue. These items are difficult to throw out, but what do you do when it is time to get rid of them. Always resist the temptation to toss them in the trash anyway. Batteries, CFL bulbs, electronics, motor oil and paint contain toxic chemicals capable of contaminating the environment if not disposed of properly.

Unlike items that are picked up at the curb, you'll have to make a special effort to unload these ones responsibly. But, with a little advance planning and some good info, it's really quite simple to dispose of these items safely and properly. Here's are some suggestions:

* Batteries: Recycling rechargeable batteries is fairly easy. Home Depot, Staples, Radio Shack, Best Buy, and other retailers take them back free of charge. There are fewer options for single-use batteries, but look for bins at your local Whole Foods Market, Ikea, or library. Otherwise, your best bet is the local household hazardous waste drop-off site. Search you local city web site for more details. Click here Austin Solid Waste Department for more info in Austin.

    * CFLs: These energy-efficient bulbs are becoming easier to get rid of. Just drop old bulbs off at any Home Depot or Ikea for free recycling. Or ask about CFL recycling at your local Ace Hardware or home improvement store. You can search locally for other nearby solutions. You can also donate you no longer needed cells phones.

    * Electronics: Every retailer that takes back rechargeable batteries also accepts mobile phones, as do most wireless providers. For computers, cameras, televisions and others, it's worthwhile to do a little homework because some stores charge fees depending on item and brand. Check out Best Buy, Staples, and Office Depot to see what's the best fit. Some places, like Radio Shack, have trade-in programs where you can receive store credit for your old gadgets. For more info, click here Cell Phone Donations

    * Motor Oil: In case you need some motivation, consider this: Every gallon of used motor oil that's improperly disposed of can contaminate one million gallons of drinking water. Bring it to Wal-Mart, Autozone, Jiffy Lube, or search online for more convenient choices.

    * Paint: It's among the harder items in this group to dispose of, but it's worth it and totally doable. With proper planning and application, paint disposal is usually unnecessary. Buy the right amount for your project. Apply a second coat and touch up areas that need improvement. If the paint is still in good shape, consider donating it. Liquid wastes are restricted from municipal solid waste landfills - never throw away leftover liquid paints in your trash. From more info from the National Paint Association on paint disposal, click here National Paint Association

Hmmm.....I think I'll go clean out the garage. Nah.

Stage to SELL

Sat, 04 Apr 2009 07:50:54 -0700

Clients often ask us why our homes sell 30 - 40% faster than the norm in Austin. We feel it is a team effort between agent and homeowner in getting the home in pristine showing condition, keeping fresh during the showing period and pricing competitively in the market place. With getting the home ready as the key. We often bring in professional staging to the home. Below are our staging tips.

Make a Clean Sweep

Detail clean woodwork and doors, have carpets professionally cleaned and restore appliances to like -new condition.

Follow the "cantaloupe rule"

We learned this one from our favorite professional stager, Ellen Boettcher. Remove all items around the home that are smaller than a cantaloupe. In addition, be sure personal items are stored out of site.

Pare down possessions

Leave at least 1/3 of all bookshelves empty. Remove enough clothing from closets to allow 1/4 bar rod space. Empty all non-vital items from kitchen cupboards and pantries.

Put away pets

Animals can be a serious distraction to buyers. Arrange for off - site care. Remove food bowl, leases, kitty liter, etc from the house.

Set the scene

Before potential buyers arrive at the home, tune the radio to a classical music station, neutralize odors with an unscented air freshener, open all curtains and blinds and turn on all the lights.

Home Buyer Tax Credit

Fri, 27 Feb 2009 08:11:41 -0800

I have been getting quite a bit of questions from home buyers recently about the "tax credit" which has changed forms many times of late.

It is my understanding that President Obama's $787 billion stimulus bill was passed into law last Tuesday and it will grant a no-repayment credit equivalent to 10 percent of the purchase price (up to $8,000) for first-time home buyers of principal residences between January 1st 2009 and December 1st 2009. This is unlike the previous $7,500 credit available to this group of buyers, the credit outlined in the American Recovery and Reinvestment Act of 2009 does not have to be paid back

I welcome comments and feedback. It is my understanding that those eligble are first-time homebuyers or anyone who hasn't owned a principal residence for three years before buying a home. (Date of Purchase is the day the title transferred) There are also income limitations applied to eligibility. Single buyers must have a modified adjusted gross income of less than $75,000 or $150,000 for married couples to receive full credit. The credit is $4,000 for married individuals filing separately, according to the IRS' Web site.

In order to receive the $8,000 refundable tax credit you must purchase a property and have the title transferred before December 1st of 2009. Qualifing properties are principal residences, vacation or investment properties. This can include single-family homes, condominiums, townhomes, apartments, and cooperatives.

Those that qualify have the unique opportunity for $8,000 government dollars or potentially up to half of your down payment toward the property of your choice. It is a great time to by in Austin.

I want to buy and move-up, but it is a bad time to sell, right?

Mon, 02 Feb 2009 08:42:18 -0800

I have recently been contact by several clients indicating a desire to buy and move-up, but concerned that it is not a good time to sell. Oftentimes there are misconception by sellers in a buyers market as they consider the sell of there home. It is, in fact, a great time to sell!

Consider this hypothetical.

Balanced market:

$500,000 Seller Smith's current home value in a balanced market.

$650,000 Seller Smith's new home value in a balance market.

$150,000 move up cost

Buyer market- values down 15%:

$425,000 Seller Smith's current home value in a buyer market market.

$552,500 Seller Smith's new home value in a buyer market

$127,500 move up cost

*other benefits include broader selection buyer market and when market cycle back upside is stronger on new home they prior home

Seller market- values up 15%. (Seller Smith decided to wait out the slow market until things "bounce back")

$575,000 Seller Smith's current home value in a sellers market.

$747,500 Seller Smith's new home value in a sellers market.

$172,500 move up cost

*other concerns for a move up buyer in a sellers market include less selection, more multiple offer competition and since history has shown a certainty that markets are cyclic then Seller's Smith new home value bought in an up peak for the market is more likely to not appreciate in the near future or possible depreciation some as the market cycle back down over the next few years.

All this is assuming Seller Smith's employment is stable, financial plan is in place and the family budget can afford the new purchase.

Hey America, let's get moving.

Time to refinance?

Fri, 16 Jan 2009 08:06:25 -0800

Since interest rates are continuing to stay low, lately I have been receiving numerous calls from buyer clients wondering if they should re-fi. I generally defer them to their mortgage lender, however, I like to have some general advice so as a rule of them I suggest they plan to be in their home at least 5 additional years and their current mortgage rate is above 6.25% they might consider a re-fi. The cost to re-fi can be in the $2K-$3K range and you likely need a 1- 1.5 point spread it rates to come out ahead over time. In addition you typically will need 20% equity and a credit score of 720+ to get the best rates.

Where's the Bottom?

Sun, 11 Jan 2009 15:16:41 -0800

I often get asked "How's the market and your business?" and "When will I know when housing hits the bottom?".

Well my business is phenomenal. I just posted the best 2 sales quarters in my career and I am now comfortably the Top Prudential Residential Agent in Austin. There may be talk and hints of a recession. I am just choosing not to participate in it.

In regards to"When is the real estate market going back up again". I think that is flawed thinking. You will know the market is going up AFTER you see it hit bottom, but that is too late. The best time to buy is while its still going down when there is no competition, rates are low (like in the mid 4's now!) and sellers are more willing to deal in most cases.

Click below to see an article from the National Realty News which seems to indicate we might come out of this housing slump in 2009. If this is true, then we all know people will start buying homes en-mass at one time, driving up prices.

If you click HERE you can view the article.

Austin Texas Real Estate Report

Mon, 21 May 2007 17:12:37 -0700

The Texas Real Estate Reseach Center at Texas A&M University came out with a report that stated that the number one download on its website this year was the 2006 Austin-Round Rock Area Market Overview Report.

For those considering buying or selling your Central Texas home anytime soon, or if you are considering a relocation to the area, you should consider reading this report. It has a ton of great information from demographics and education, to employment to go to the downloadable pdf report