Leader0524b

Saturday, May 24, 2014 • Page 1B

DO-OVER

Question: What is the most important factor to look for in determining which mortgage institution to choose for you Mortgage process and why?

Powering Up for a Zero Energy Lifestyle

OPINIONS

These days, mortgage lending is still quite conservative and with the slight differential in interest rates and underwriting fees you ultimately may be charged to close on a loan (or loans) – they all operate quite similarly – and the experience itself should be pretty close to the same no matter who you use – but which one is the most appropriate one for me you ask? Of course, it will depend on the kind of funding you will need – are you purchasing or refinancing? Will you qualify for a conventional, FHA, or VA loan on paper with no expected hitches in this lending environment? Are you trying to pursue hard money for real estate investment (Houston is absolutely booming at this moment) as this is becoming extremely popular. With any lender for whatever purpose, the better your credit and financial profile looks on paper (in underwriter standards), certainly the more options you will have. But if you are a first time homebuyer or are thinking about being one – it all starts with your middle credit score – the higher the better of course, as this is the first criteria they all use. This number opens the floodgates for the interest rate you (market is constantly moving the entire

By Cynthia Lescaleet For The Leader

Renovations to a long-and-lean Heights property transformed the quirky, 1984-built home into a modern and sustainable environment for the “zero energy lifestyle.” As owner-architect Palmer Brooks Schooley explains, that lifestyle means “Live well and offset as much of your existence as you can. Take the long view and care about the long term,” he said. ‘That’s what really matters.” Even before its modiﬁcations, the singlestory home at 409 W. 8th St. was a pretty cool property, he says. The linear footprint set up a unique arrangement of spaces and a relationship between them and the side garden. The property’s lore was also intriguing, he said. The home is attributed to a former neighbor, a “creative pragmatist” who recycled, re-purposed and re-used materials. He subdivided his corner lot to accommodate his project. Serial remodelers since 1991 and longterm Heights residents, Schooley and wife Merry bought the property in 2012. They knew it well since its garden was adjacent to See Do-Over, P. 2B

EXPERT

Renovations transformed a 1984 home in the Heights with sustainability in mind. (Photos by Cynthia Lescaleet)

time) will ultimately lock in on. A solid loan oﬃcer should help you navigate through the paperwork and the process – as should your real estate agent. Lenders prove themselves to agents and in return sometimes earn a (hopefully long) pipeline of business referrals based on the quality of the service they provide. Are their loans closing on time? Are their closing costs and interest rates in check with Truth in Lending requirements before closing? How is their communication? Are they guiding you through the process and clearly explaining the status of the loan? All of these things are traits of a great lender. Experienced Realtors should all have a small collection of proven lending comrades and should put you together with the one that best suits your situation and based on an established history of success. Bryan Craft Craft Texas Properties I would say the most important factor is without a doubt, the service you receive. Most of the big banks have become known in the industry for providing very poor service to their clients. From lack of communication,

See Expert, P. 4B

At home in the Heights By Michael Sudhalter

Heights builder Joe Petruzzi stands next to the 27-foot staircase in his own home at 634 Rutland. Petruzzi has put the home on the market for $1.2 million.

michael@theleadernews.com

When Heights homebuilder Joe Petruzzi is designing and building a new home, he tries to consider what he’d want in his own home. “When you build something for yourself, you put more energy into it,” said Petruzzi, a Heights resident. Petruzzi takes that strategy to heart because he builds a home for himself, lives there for 2-4 years, puts the home on the market and sells it. He currently lives at 634 Rutland, a 3,675 square foot home that he put on the market last week, which is expected to sell for somewhere between $1.1 million and $1.2 million. Since it listed, Petruzzi has had two showings for the home. Petruzzi, 45, builds about 25 homes per year, and as a small builder, he does everything from designing the

homes, marketing them and selecting designs that make the homes unique. “I don’t list houses until they’re almost ﬁnished because everything sells extremely fast,” Petruzzi said. In his current home, there’s a brick wall made of 100-yearold Chicago bricks, handcarved stone, a Theater room, a retro yet modern bathtub, a 27-foot-stairway and several classic chandeliers. Sometimes, Petruzzi comes up with ideas that clients select for their custom homes. One of the themes that rings true with his homes is that they ﬁt into the Heights

culture. “The best thing about the Heights (as it’s been revitalizing ) it’s stayed true to the little town neighborhood it was,” Petruzzi said. “People are building a product that looks indigenous to the area. What happened in the last year and a half is amazing with the new construction. There have been builders such as David Weekley and Urban Living that wouldn’t have been here before, that have come in.” Petruzzi builds homes be-

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See Petruzzi, P. 2B

WOODWIND LAKES ••

Oak Forest home selling for $1.4 million sets growing trend A Tuscan-style home located in the 1200 block of Althea is being sold for approximately $1.46 million, according to Brett Hartman of Hartman & Associates Realtors. Hartman and the homebuilder, Justin Gordon of Justin Gordon Homes, are not listing the exact address due to privacy of the purchaser. The home is a little over 5,100 square feet with a pool, grotto and basketball court, and the lot is close to 11,000 square feet. “They’re going to be top notch ﬁnishes,” Gordon said. “with 12 foot ceilings up and down. I imagine that will be an Oak Forest ﬁrst. The house will be digitally automated with sound, security and lights.” Gordon expects the trend of houses over $1 million to continue in the area. “The dirt alone is worth

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MLS# 8538283

MLS# 56511184

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An artist’s rendering of a $1.46 million home on Althea, which is believed to be the most expensive home in Oak Forest. (Submitted visual)

$300,000,” Gordon said. The study will have a 25foot ceiling, there are two outdoor fireplaces and the wine room will be able to hold over 2,000 bottles. Oak Forest homes have exceeded the $1 million mark, but this is believed to be the priciest one. It could exceed $1.46 million once final fixtures and finishes are determined. Regardless of the home’s size or prize, Hartman and Gordon have been working hard to boost the quality of

BAMWOOD••

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custom homes in Oak Forest. “We cater to the clients’ needs and what they would want in a property,” Hartman said. “We encourage the custom aspect of a home and make the possibilities endless as far as a custom home builder goes. Justin lives in Oak Forest and has a wonderful reputation for helping out the neighborhood as well. We have several lots available right now ready for other custom home clients.”

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NORHILL •• �� MLS# 86841654

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PREMIER PROPERTIES

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