More people in the Midlands remodeled homes in 2008 than the previous year, but they spent less money doing it.  More people appear to be staying put amid a cooling real estate market, but they are using their money to make upgrades that will add value when the market turns and allow them to enjoy the benefits of a remodel now.  Others have found good deals on houses and want to modify them to fit their lifestyles.  Home sales in the Columbia area fell 28% in the first three months of 2009, compared to the same period last year.  Some people are being forced to stay in their homes because of market conditions and are deciding to renovate or add on.  Some are even smaller jobs such as screening in a porch.  Homeowners are really looking for someone to help them figure out how to maximize a return on investment.  While investing in kitchens and bathrooms is usually a good bet, individual decisions must be made on the home.  A master bathroom is almost a must for some buyers while younger buyers are looking for open floor plans.

Here are this weeks top 3 selling home prices in Richland and Lexington:

Richland:

$624,413 - 27 Club Ridge Court, Elgin 29045

$465,000 - 104 Old Still Road West, Columbia 29223

$435,000 - 129 Hamptons Grant Court, Columbia 29209

Lexington:

$330,000 - 120 Inverness Drive, Lexington 29072

$325,000 - 135 Cross Creek Drive, Columbia 29212

$309,000 - 129 Quiet Cove Drive, Chapin 29036

Here are this week's mortgage rates:

30 Year:  4.84%

15 Year: 4.51%

You have one more opportunity to visit this year's Tour of Homes on Saturday and Sunday from noon-6PM.  The Tour is sponsored by the Home Builders Association of Greater Columbia.  Here are this year's winners:

Under $125,000 - Best overall: The Dawson by Executive Construction, LLC, Dawson's Park, Lexington.

 Honorable mention: The Brooke by Executive Construction, LLC, Indigo Place, W. Columbia

$126,000-$200,000 - Best overall: The Hutchinson by Holiday Builders, Chandler Hall, SE Columbia

       Honorable mention - The Keowee AA by Essex Homes, SE, Allan's Mill, SE Columbia

$201,000-$300,000 - Best overall: The Kaeley by Essex Homes, SE, Ashland Falls at Lake Carolina, NE Columbia

      Honorable mention: The Remmington by Essex Homes, SE, Magnolia Pointe, Irmo

$301,000-$400,000 - Best overall: The Reece by Clifton Custom Homes, Westcott Ridge, Chapin

      Honorable mention: The Charlestowne by S.E. Miller Construction Inc., Harborside at Lake Carolina, NE Columbia

$401,000-$500,000 - Best overall: The Sorento by Key Construction/Holder Properties, ADESSO, Downtown Columbia

       Honorable mention: The Pelham, Circle H Builders, Crickentree, NE Columbia

$501,000-$750,000 - Best overall: The Saluda by Dunbar Builders, Saluda River Club, Lexington

       Honorable mention: The South of Broad by Donna Gardner Builders, Saluda River Club, Lexington

$750,000 and above - Best overall: The Concept Homes by Berry Builders, Lake Carolina, NE Columbia

These "Ten Commandments of Travel" will help you avoid problems and even enjoy business and leisure trips.

1.  Travel is difficult and it costs too much.   Think and plan ahead.  If you think you're going to get it as easy as the $49 flight commercials you see on tv, think again.  Be as flexible as you can and be ready to act.

2.  Book smartly.  There is so much information available out there.  Check out farecast.com to see what your flight has cost in the past to see if you are actually getting a good deal or not.  Allow yourself plenty of time by arriving a day or two early for a wedding or cruise.  Airlines aren't dependable enough to cut it that close.

3.  Plan for trouble.  Always have a backup plan.  Ask your pilots how much "duty time" they have left in the day.  If your flight is delayed and they don't have much duty time left, start trying to get another flight or a hotel.

4.  Learn something.  Have fun when you travel.  Build in an extra day to try the regional cuisine, see a new city, and learn local culture.

5.  Enjoy perks that pay.  Sometimes you can get lucky and find deals on better seats, valet service, and VIP airport club day passes for when you really  need them. 

6.  Stay local.  Concentrate your spending to generate quicker connections to free perks.  If you prefer an airline, use it often to get perks.  Become a VIP customer at your favorite hotel chain.

7.  Never check anything you can't live without.  Sometimes you have to check luggage, but never check something you MUST have: medicine, valuable papers, jewelry, etc.

8.  Play the upgrade game.  Each company has their own games, so play wisely.  For hotels, its best to show up late at night and try and get the upgrade to a suite when the clerk knows its not going to rent. 

9.  Ask nicely.  Even if you aren't treated nicely by airport staff, don't stoop to their level.  You're not the one trying to check-in hundreds of thousands of people in one shift.  If you treat them nicely when their frustrated, it will get you farther in the long run.

10.  Be kind to your fellow traveler.  Be helpful and kind to those traveling around you.  Before you recline your airplane seat, ask the person behind you if its ok to descend into their space. 

In today's real estate market, there isn't a straight answer for most situations.  Not only are you learning along the way during a real estate short sale, but so are the real estate agents, bankers and sellers.  Here is an important checklist of issues buyers and sellers need to consider when purchasing or listing a short sale property.

Short Sale Listings:

Setting a good and comparable listing price for a short sale is quite important to attract the right buyers and bring an offer quickly to the lender. Choosing an expert real estate professional that has dealt with short sales can be quite beneficial.

The buyer must put together all the information requested by the lender that is required for short sale consideration:

1) A hardship letter that honestly describes how the situation was entered - the more details the better and include any supporting evidence of the hardship to further prove to the bank.

2) Include the last few months of pay stubs.

3) Include the last few months of bank statements, last 2 years of tax returns, and last 2 years of W-2 statements.

4) Also, complete a financial statement showing the detailed incomes and expenses.

The Listing Agent:

1) Must provide a CMA to support the listing sale price

2) Must keep track of all the activities related to the transaction to be on top of all the parties involved. They also must stay in good communication with sellers and the lenders.

3) It is also helpful to have a list of items that detract from the properties value, along with verifiable proof.  Take pictures of any repairs to the house, any houses on the street that may be a drag to housing prices, and provide rough estimates of what it may cost to make the property otherwise 100% sellable.

The Title Company:

1) Needs to estimate the closing related expenses such as any tax liens, judgments, commissions, lien search fee and more.

2) Preliminary HUD

Buying a Short Sale:

A short sale may appear like a regular transaction but the short sale timeline is quite an obstacle for many involved. It definitely requires a lot of follow up and consistent communication. Once the seller and buyer are delivered written approval by the bank or lender on the short sale, things can move very quickly.

Contributed by:

Thomas J. Harrington

Real Estate Attorney

Brock & Scott, PLLC

(803) 237-6422

Thomas.Harrington@brockandscott.com 

People who spend a lot of time outdoors often have a lot of equipment.  The problem is where to store this equipment.  Here are some good tips on what to do:

1. Decide where you are going to store your kayak, bikes or hunting gear.

2. Ask a friend about your plan to store items.

3. Use plastic tubs to store smaller items.

4. Set up shelves for items to be placed on or hung from.

5. Look to your ceiling for extra storage space.

6. Use walls with pegboards.

7. Use masking tape and permanent markers to identify.

8. Recycle storage items.

9. Use a milk crate to store items.

10. Use a rod rack or caddy to store fishing rods.

11. Create a system to handle items when you return from a trip.

12. If you don't use it anymore, get rid of it!

You've got to take a look at this awesome read by Harry S. Dent (2008). The Great Depression Ahead is right on target. Here's an excerpt about it from his website www.hsdent.com

 "Harry S. Dent accurately foresaw the recession of 1990-1991, the expansion of the mid-nineties, and the boom of 1998-2000. Now, in The Great Depression Ahead, he predicts that our economy is on course towards a major depression, not unlike the one that struck Japan a decade ago. The slowdown, he says, will continue for at least a decade.

The Great Depression Ahead offers much more than just doom and gloom. Dent suggests practical steps that investors can take today to inoculate themselves against tomorrow's worst and to position themselves to take advantage of changing conditions. Property owners, he says, should either sell immediately or prepare to hedge-perhaps by drawing equity out of a home and investing it in zero-coupon treasuries.

The economy is as volatile and worrisome as it's ever been. Harry S. Dent's is one voice that no serious investor can afford to ignore."

Couple this with watching the BBC news and you've got some real info!

God Bless My Friends,

Troy

Obama is quickly finding out two things as he looks for ways to make the White House more environmentally friendly.

1. It's already been done.

2. It needs to be done again.

In 1993, Bill Clinton started "greening" the White House and saved $1.4 million in the first six years.  He took projects on such as lighting, heating and air, insulation, and water sprinklers.  During George Bush's two terms, three solar panels were installed including one that heats the pool and showers.  Bush also started an office paper recycling program. 

Before he took office, Barack Obama wanted to start an initiative that would show American's that it isn't that hard to go green.  He said, he already did it in his own house, so why not take it to a grander scale that is in the public's eye, so that they too can be more cautious about their energy use.

The first-family is starting off on the right foot.  Michelle Obama broke ground on an organic herb and vegetable garden.  The Obamas installed an environmentally friendly wooden swing set for the girls.  Although the full plan has not been created, the Obamas are taking small steps in the right direction to get it started.   

Every year in the US, 1/3 of people over 65 falls.  Falling is also the leading cause of injury deaths among older adults according to the CDC.  What for most is a simple misstep, can turn into a life altering injury or death for the elderly.  With older folks having been hit hard in their retirement by the economy, many are choosing to not sell their homes in our market, but instead make them safer.

The most dangerous room for seniors to fall in is the bathroom.  Manuevering between the bathtub, toilet and shower can be difficult for older individuals, especially on wet surfaces and late night trips to the bathroom.  One important step that may shock you, is to remove rugs, even if they have been there for years.  Trade your old rugs in for newer slip-resistant ones and make sure the flooring in your bathroom is uniform.

Some more tips to make your home safe for seniors include:

-Make sure wall-to-wall carpeting is secure and flat without wrinkles or raised areas.

-Fix and update poor lighting and add nightlights for trips to the bathroom.

-Place nonskid adhesive strips in the bathtub or shower floor, or a plastic shower chair to help get in and out.

-A raised toilet seat with armrests can also make using the restroom easier.

-Keeping your balance is important so install handrails near the toilet, bathtub or shower.

-Some no brainers include having well lit stairs, remove clutter from floors, and don't wax hardwoods where seniors walk.

Aging is never anyone's favorite topic, especially if the one aging is you.  Instead of thinking of this as age--proofing, think of it as remodeling.  Remember safety is first!

Now that Spring has sprung, gardeners are preparing for some time outdoors.  This year, how about invite some insects to join you in the garden as well.  Beneficial insects can help reduce the amount of bad insects by eating them.  There are two types of beneficial insects: predators and parasitoids.  Predators eat the harmful bugs and some types include preying mantis, green lynx spiders, ground beetles, lacewigs, and ladybugs.  Parasitoids have two jobs: pollinating and comsuming pests.  They include wasps, flies and bees, but are so small that they will not harm the gardner. 

The easiest way to attract beneficial bugs is to plant their favorite flowers, which are flower forms for nuzzling nectar or hunting prey.  One of the best types is a Queen Anne's Lace or any other with a blossom  or landing pad such as: fennel, cilantro, dill, and parsley, alyssum, oregano, mint, basil, thyme zinnias, daisies, coneflowers, and sunflowers.  It is important to spread these plants out through your garden to lure the beneficial insects.  Make sure to not over fertilize because many pests can detect high nitrogen in plants and will move on.