investment: Cheap Tip #2... Tip-Top Shape in 5 Steps - 02/05/11 10:22 PM
Image by lane.bailey via Flickr You are NOT a bank. Your home isn't a foreclosure. Hopefully it isn't on its way to a foreclosure. You need to maximize the price your home fetches on the market, and minimize the time it is on the market. The problem is those foreclosures that your house has to compete against. Foreclosures often have price going for them. That is a VERY powerful tool. It can overcome a lot of issues. But, you have to find a way to overcome the prices that banks are asking for their properties.
You are not a bank... so … (3 comments)
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investment: Lane's Prognostications for 2011... - 01/10/11 08:57 PM
Image by thinkpanama via Flickr We'll see how well I peg this.
Lane's Predictions for 2011... Looking back over the last year or two in real estate market reports, there are a few things that have been jumping out at me.
For over two years I have been hearing about the millions of homes in "Shadow Inventory". These are properties in the foreclosure process, or already foreclosed, that the banks are basically sitting on, waiting until "the market improves" before releasing them into the market. I predict that next year there will STILL be people talking about the coming giant wave … (2 comments)
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investment: Renovation RoI Revisited... - 12/30/10 09:19 PM
Image via Wikipedia Just last week I wrote a post highlighting the results of the Remodeling Magazine's Cost vs. Value study. And in this month's Realtor® Magazine, the newest results are published. The reason I like this particular study is that it breaks down the results by region. It would be great to break it down further to metro area... and then maybe ZIP code... and possibly subdivision... or even street... but that isn't happening. Region is good.
The numbers for the Southeast are interesting. The Top 5 Renovations for Return on Investment (RoI) are:
Mid-range entry door (steel) - 135.5% … (1 comments)
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investment: Flashback Friday... Getting the Most for Your Renovation Dollar - 12/25/10 10:08 PM
Image via Wikipedia Do you know anyone that just likes to throw time, money and energy at a home renovation project, without a care for the value added? I sure don't. In fact, almost everyone I know is looking for ways to maximize the value of the dollars they spend renovating.
Last year, I wrote about a study from the National Association of Realtors® which detailed the average costs and RoI (Return on Investment) for various renovations. It was even broken down by region.
I'll give you the spoiler... Replacing the front door actually is the winner, and by a wide … (1 comments)
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investment: Wayback Wednesday... Fear/Greed and "the Deal" - 12/22/10 10:31 PM
Image via Wikipedia Two years ago, we were in the midst of the financial system meltdown. real estate was looking bleak... and so was everything else. Unemployment hadn't really reared its ugly head. It was swirling up, but still seemed manageable.
So, I thought that a blog about market psychology was in order... And this isn't just real estate. The same holds true for any kind of market.
Fear and Greed Those are the emotions that drive ALL markets. Stop into the old post and take a look at the background.
In a nutshell, when fear overruns greed, markets expand. When … (3 comments)
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investment: Flashback Friday... Tax Credit Gambling - 11/12/10 08:49 PM
Image via Wikipedia This week last year, the biggest news in housing was all about the Tax Credit expansion and extension. It went from just being for First Time Home Buyers to allowing existing home owners to get a credit also.
Those credits finally expired in April (with closing mostly by June).
Looking back on the market reports for the last year, the effect of the tax credits is pretty obvious. And I wouldn't call it all a good thing. There certainly was an increase in closed sales leading up to the original June deadline. But, there was a VERY sharp … (2 comments)
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investment: Wayback Wednesday... Median Price Comparison... Ouch! - 11/03/10 11:15 PM
Image via Wikipedia A couple of years ago I was looking at median house prices in the Atlanta area, via a map that the NAR (National Association of REALTORS®). My friend Jay Thompson unearthed it... I think before the NAR was quite ready to release it.
The map is a fun little interactive tool, but the information is the real story here. A couple of years ago, I noted that the Median Home Price in the Atlanta area was $158,300 for the 2nd Quarter of 2008, down 9.8% from the 1st Quarter of that year.
For the 2nd Quarter of 2010, … (5 comments)
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investment: Finished or Unfinished Basements... - 10/21/10 10:44 PM
Image via Wikipedia I had the opportunity to sit in on REData Center's presentation about the state of the Gwinnett County Real Estate Market for the 3rd Quarter at NAMAR (Northeast Atlanta Metro Association of REALTORS) on October 18th.
One of the findings that was presented wasn't a shock to me, but it was a shock to some of the other real estate professionals that were there.
Finishing a basement doesn't really add to the value of the home in the eyes of a buyer...
I know that there are all sorts of news stories about the RoI (Return on Investment) … (2 comments)
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investment: And Another Thing... - 09/01/10 12:47 AM
I just wrote a post a few minutes ago about 'The Bandwagon' and all of the folks climbing on-board to trash a book based on its title.
But there is something else that has been bugging me...
There is a disregard for DiYers that I see all too often. It comes from agents, inspectors and others. There is an assuption that if the home owner does ANY repair to their home, it will be sub-standard, not up to code, poorly executed and solely for the purpose of killing kittens and puppies.
I am a car hobbyist. I do a LOT of … (8 comments)
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investment: Mom Always Said... Don't Judge a Book by Its Cover... - 09/01/10 12:15 AM
Recently, there was a post about a book here on Active Rain. The book was about tips and tricks that pros use while remodeling and repairing homes. Honestly, I'm not crazy about the title...
But, reading through the comments, one might draw the conclusion that the book was purely evil.
How to Cheat at Home Repair
Like I said, not crazy about the title... But, the title doesn't tell the whole story. Here is a short except from the book:
Here’s another situation where a panic response will lead to misery and unnecessary expense: the times when you need to call … (3 comments)
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investment: There IS a New Real Estate Transfer Tax in the ObamaCare Law - 07/20/10 10:05 PM
Image via Wikipedia One of the forums in which I participate has had stories on both sides of this issue for a couple of months… with the more conservative members saying that there is a 3.8% sales tax on the sale of homes, and those that are more supportive of the President and his policies saying that there isn’t.
Neither side was real specific about their information source… talk radio for some, blogs for others… nobody seemed to be going to the source… the 20,000+ page law signed by the President. In all fairness, there is a LOT of room in … (229 comments)
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investment: Incrementalism... revisited... - 06/13/10 11:37 PM
Two years ago I wrote a blog post called “Incrementalism“… It is actually a favorite term among a small group of my friends. We coined the term in regards to Jeep modifications. Instead of doing the work over and over, but just a little at a time, causing a tremendous amount of laber of spending WAY more money, just go full in the first time.
Image by airgap via Flickr Of course, there are a few reasons to build a Jeep (or a sports car or a tow rig or anything else) a little at a time… especially as one is … (1 comments)
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investment: Wayback... My Garage Wish List - 04/22/10 11:26 PM
Image by lane.bailey via Flickr A couple of years ago I wrote a post about my wish list for garages. This stuff isn’t rocket science, but it also seems to escape most builders… There are a few out there that hit a few of these things, but it is a rarity to see a garage in a newer home that has all of these touches.
I’ve actually written a lot of posts about making garages better, both for builders and renovators. (Keep in mind that I’m not a builder… I’m a user. I USE my garage, like many of my clients).
… (6 comments)
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investment: 5 Steps to make your Garage Cool... - 04/02/10 11:03 PM
The garages in most homes are less than spectacular. In fact, a lot of them (including mine... excuse soon) won't even hold a car. They seem to collect all sorts of things, from Christmas decorations to sports equipment. All of that is in addition to tools, lawn equipment and the bulky stuff that won't go elsewhere.
But, most garages are pretty close to being back into 'show shape'. Here is a good place to start... Let's get started.
Step 1. Clean out the 'Not-Garage-Stuff'. Get the Christmas decorations up to the attic or down to the basement. Find a closet … (16 comments)
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investment: Another Community Improvement District Coming to Lilburn - 03/21/10 10:47 PM
Lilburn is already kind of home to part of the Evermore CID running along US78 between Stone Mountain and Snellville. As an area resident, some of the improvements that are directly and indirectly a result of the CID are quite obvious.
Image by mjp* via Flickr The updating of the bridge over the Yellow River between Lake Lucerne and the Yellow River Game Ranch.
Roadway improvements including new medians from East Park Place out to around Highpoint Road. There is also another direct project that hasn’t been visible yet… the rehabilitation of the old Olympic Tennis venue on West Park Place … (0 comments)
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investment: Improvements nobody thinks of... - 02/09/10 10:23 AM
It is pretty common knowledge that kitchens and master bathrooms make or break the appeal for a home on the market. Get those two areas right can land a buyer that might otherwise pick another home.
Image by lane.bailey via Flickr But doing those rooms right isn't cheap. Back around Christmas I wrote a post about how the front door was the most bang for the buck in the improvement arena. In the same post, I mentioned that a "Minor Kitchen Remodel" averaged over $20k in cost (while only delivering about $15k in value). That isn't cheap...
So, what are … (7 comments)
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investment: Is there a stock market bubble coming? - 02/04/10 08:22 AM
I have been wondering about this for the last couple of weeks... There are a few things about that give me pause. We've seen the Dow climb a bit, but I don't think there haven't really been increased profits to explain it. And where there have been increased profits has been largely from overseas operations.
Sure, there are some companies that are bucking that trend... but I still wonder.
A good bit of the increase in overseas profit comes down to exchange rates. the US Dollar has been pounded in currency markets. This means that companies with overseas profits will see … (8 comments)
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investment: FHA Changes On The Way... - 01/27/10 08:13 PM
Ken Cook, from America Home Key Mortgage, is an FHA expert and extremely knowledgeable about the Mortgage Industry in general. And of course he is on top of the recent and pending changes HUD announced for the FHA.
The Federal Housing Administration, the division of the Department of Housing and Urban Development which insures home mortgages for qualified borrowers, has recently announced pending changes which will affect all borrowers and specific borrowers.
Reports show FHA defaults and foreclosures to be at 18% of the total number of loans where the average number of defaults and foreclosures on other loans is … (0 comments)
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investment: Garage Upgrades YOU can do! - 12/26/09 11:14 PM
Keeping the theme from yesterday regarding improvements and their return on investment, I thought I might mention a few upgrades/improvements that can be done on a budget AND that will add value to your home. The following links ARE affiliate links to Amazon. Most of these products can also be found at your local Home Depot or Lowes store.
Let's start with the floor. When there aren't any cars in the (hopefully) clean garage, that floor is awfully big. To make it look nice, an epoxy coat is a great addition. Regular floor paints do NOT stand up to hot tires. … (7 comments)
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investment: 146.8%... Show them the DOOR... - 12/25/09 11:43 PM
The NAR Magazine (called REALTOR) recently published a story about what improvements enhanced a home's value the most. It was also broken down regionally...
For the Southeast (they called it South Atlantic, DC, DE, FL,GA, MD, NC, SC, VA and WV), the absolute winner was a "midrange" 20 gauge steel entry door. Nationally, that change added 128.9% of the cost as value to the home. Here in the Southeast, it added 146.8%... with an expected cost of $1065 and a return on investment (RoI) of $1562.
Rounding out the top five here in the Southeast:
Attic Bedroom - 90.0% - Cost … (9 comments)
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