Real Estate LUBBOCK AVALANCHE-JOURNAL
SATURDAY
OCTOBER 1, 2011
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SATURDAY, OCTOBER 1, 2011 A1
Inside Real Estate:
WTHBA Featured Floorplan - Page 7 Local Real Estate News - Page 9
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On The Web:
Kitchen Design - Page 8 Home Improvements - Page 9
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Realtor Revealed Janis Rothwell Where did you grow up? I grew up in Cleburne, Texas before coming to Lubbock to graduate from Texas Tech University.
market will dictate in bringing buyers and sellers together. What tip would you offer someone looking to buy or sell a home? If looking to sell a home, make sure to pick a Realtor to help you price your home according to the market, not according to emotional feelings about the house. If your price is too high to begin with, buyers may not look at the home. Also, it’s so important to minimize decorations, clear counters, and make the house as de-cluttered as possible. You want someone to walk in and have it feel like home to them. If looking to buy a home, pick a Realtor you are comfortable working with and who can help you determine your wants and needs. Talk with your lender before starting your home search to know what price you are actually qualified to buy.
most important commodity, their home.
What is your specialty? Jimmy Don, and I have always worked as a team in business. My specialty is working with What do you enjoy when people in the residential area you’re not working? The enjoyment of my life is my of real estate. After attending Texas Tech and graduating from family. Our three grandchildren keep us busy between basketball the University of Texas School of games, piano and dance recitals, Business, Jimmy Don had always and choir concerts with the Texas wanted to be in the real estate Girls’ Choir. We also love going to business. We have combined our talents of working with people, Texas Tech football and basketfarm and ranch knowledge, and ball games. When time allows, I marketing skills from the cotton also love to travel. business to be able to assist How long have you worked in Lubbock area buyers or sellers with their individual needs. real estate? Jimmy Don is also involved in I have been a Realtor for 8 commercial, plus farm and ranch years and a Real Estate Broker transactions. for the past 5 years. What did you do before that? Before we moved to Lubbock, my husband, Jimmy Don, and I lived in Childress, Texas for more than 30 years where he farmed and ranched with his dad. We also bought and sold cotton. Because of this experience with the farmers in marketing their commodity and our experience in working with people, we felt that being Realtors was a perfect fit with our expertise in buying and selling of one of a person’s
e s i t r e v d To A g n i t s i L r u Yo l l a C e m o or H
CRS, ABR, Broker & Co-Owner
Assist-2-Sell Buyers and Sellers Realty 806-797-SELL (797-7355) WeSellLubbock.com
Produced By Advertising Editorial Staff
What is the most unique property you’ve sold? The properties that I am listing or buying presently are the most unique. Each client brings a unique and special story to the home they are selling or the home they are buying.
Janis Rothwell, Assist-2-Sell Buyers and Sellers Realty
What are the most gratifying aspect and the most challenging aspect of what you do? One of the most gratifying aspects for me is walking through
a seller’s home for the first time and having them show and describe to me special qualities in their home. I love watching
Photo by Misty Setzler
the pride in all their years in this home, whether it be 3 or 30 years. The most challenging aspect is finding the price the
Why should someone select you as their Realtor? Real estate is my full-time career by choice, just as relocating to Lubbock was by choice. I have met many folks who have done the same as Jimmy Don and myself, and I feel I can understand and assist them in relocating to Lubbock. In my real estate career as well as my personal life, I think my ethics, my love for people and knowledge of the real estate business follows through with my clients.
Josh H 806-766-o8rs6e5y3
Jason W-h2it1tle96 806-766
Katie McKinney 806-766-8646
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OCTOBER 1, 2011 LUBBOCK AVALANCHE-JOURNAL
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Featured Floorplan – Edge Homes
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6203 92nd St. – Day Estates
his week’s Featured Home, sponsored by the West Texas Homebuilders Association in cooperation with the Lubbock Avalanche-Journal, is located at 6203 92nd Street in Lubbock’s ever growing southwest location of Day Estates. This beautiful and spacious home was built by Edge Homes and is in the very popular Frenship Independent School District. This Featured Home has four bedrooms, three bathrooms, two living areas, two dining areas, and a rear-entry three-car garage. The total living space is approximately 2,756 square feet and with all the included amenities is priced at $269,950. As you approach this home, you will notice the Austin stone accents on the exterior and a beautiful glass and iron front door with matching side lights on each side of the door. Once entering the front
door, you will be greeted by an angled entry with 12’ ceiling accented with double crown molding. In the entry, you will also find an art niche, a perfect place to show off a treasured family portrait or painting. To the left of the entry is the formal dining room, which is spacious enough to accommodate large family gatherings during holiday times and other special occasions. To the right of the entry is the formal living room, which could also serve as a study, reading room, or a music room which could easily accommodate a baby grand piano. Past the entry is the family room, boasting a beautiful fireplace surrounded by black marble tile and a built-in entertainment center. The family room is bathed in natural light due to the four large windows on the south wall of the family room, overlooking the back yard. Open to the living room is a well-appointed kitchen with beautiful traditional cherry stained custom built cabinets with Tan Brown granite. The stainless steel Whirlpool appliance package includes a built-in double over, Jennaire cook-top, built-in microwave and dishwasher. Also in the kitchen you will find a convenient built-in desk, a perfect place to plan your weekly menus. Next to the kitchen is the breakfast nook, with a door leading to the large covered patio. The isolated master bedroom also has four large windows overlooking the backyard. The ensuite bathroom features a whirlpool tub, large tiled shower, two separate vanities with engineered
marble, linen closet and a generously sized wardrobe closet. All the bedrooms and living areas of this home are carpeted in a an upgraded beautiful frieze, with a plush blue sky carpet pad. The living areas and all four bedrooms have ceiling fans and recessed lighting can be found in the kitchen and family room. The entry, kitchen, breakfast area and all other wet areas have flooring of an 18” beautiful ceramic tile. Other highlights of this grand home include a large utility room with an abundant amount of storage. You will also find in the utility room a mud area with coat hooks and storage bins. Complete landscaping of the home includes flower beds with concrete borders, shrubs, and trees for the front yard and the back yard is enclosed with a 6’ top capped cedar fence. Front and back yards include sod and a sprinkler system. Edge Homes is a division of Edge Concepts, LLC, which specializes in residential and commercial construction. Edge Homes are also found in Lubbock at 150th street and Indiana Avenue in Timber Ridge Estates, and in Odessa, Bushland, Hereford, Amarillo, Canyon, Snyder and Andrews. You may view this week’s Featured Home at 6203 92nd Street, this Saturday from 10 a.m. to 7 p.m., Sunday from 1 to 5 p.m., and next week, Monday through Friday from 10 a.m. to 7 p.m. For a private showing, you may contact Robby Vestal at 806-535-8376 or Flo Nimry at 806-786-1060. Come discover why “the neighborhood just got better” with Edge Homes.
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8 LUBBOCK AVALANCHE-JOURNAL OCTOBER 1, 2011
The ultimate in modern kitchens highlight the home cook and combine chic style with an openness that’s perfect for entertaining guests or connecting with the family. Built-in appliances are the rage (right) because they add to the beauty of the room, rather than interrupting the design. Look for professional grade features now available on home appliances.
Kitchens with Style
Ultimate modern kitchens great for entertaining and showing off culinary skills (ARA) – Want to “wow” guests with your culinary skills and the beauty of your kitchen? You’re not alone. Enhanced kitchen designs aimed at allowing homeowners to show off their advanced cooking techniques are one of the hottest kitchen trends. Homeowners are tuning in to TV shows that showcase chefs competing for top honors, and
designers upgrading old and run-down rooms into fabulous new living spaces. Modern kitchens are incorporating more of the elements chefs use in restaurants, and designers are giving kitchens plenty of function and style so that it’s a place to show off and gather with family and friends. “Innovative modern designs reinvent the way people live
at home in the modern world,” says Miyoko Ohtake, editor at Dwell Media, a leader in the modern design movement for more than 10 years. “Cooking, finances, homework and socializing are based more and more in the kitchen, requiring these rooms to have both function and style.” The Dwell on Design conference held this summer featured
Heat up your kitchen with today’s top color trends (ARA) – The kitchen is the heart of the home: a place to cook and share a meal, to entertain friends, gather as a family and even pay bills or do homework. “From a decor perspective, the kitchen is the perfect place to get colorful,” says Ginny Bean, publisher of Ginny’s catalog and founder of Ginnys.com. “Vibrant colors are a great way to reflect and reinforce the high energy of your home’s central gathering place.” Energizing your kitchen doesn’t take a major decor overhaul. Some strategically selected splashes of color in countertop appliances, cookware, dinnerware, candles, placemats and other linens can do the trick. “Among this year’s hottest colors, warm hues like tangerine and butterscotch are perfect for kitchens because they’re comforting and actually stimulate appetite,” explains Bean. “A lot of the fun comes in blending old favorites and new shades in fresh, innovative ways.” Color palettes that Bean recommends for 2011 include: Rustic Revival: Relaxed and informal, this palette is inspired by nature and features colors pulled from the outdoors. Shades such as basil, eggplant and copper help create a cozy space reminiscent of the past and simpler times. For a new spin on a traditional rustic color scheme, Bean suggests pairing a deep, earthy hue with accents of cool pink. Bold Expression: Exuding optimism, this palette creates a look that is both unconventional and energetic. Unique color mixes, such as intense purple combined with butterscotch and Capri blue, or sunny orange with dark red
balanced against a soft neutral like champagne, create a space that’s eclectic, yet warm and welcoming. Bean recommends mixing patterns, textures and styles for a one-of-a-kind look. Classic Elegance: Evoking the look of 17th century Versailles, this color palette will give your kitchen a serene, elegant look. Traditional shades like lavender, turquoise, antique pink and bronze can be combined with touches of richer colors like peacock, charcoal and delicious red for a more contemporary look. World Market: With the explosion of technology, the world has suddenly become a much smaller place. This modern palette reflects the new global outlook with cookware and other accents in colors from other cultures, such as the calm oranges and yellows of India, the bright reds of the Far East, and the Capri blue of the Mediterranean. Bean suggests grounding these bright colors with black, white, silver or brushed stainless. “In the final analysis, it’s all about doing what you like and surrounding yourself with the colors that make you happy,” says Bean. The process of choosing paint colors may involve sifting through hundreds of hues, but decorators have discovered the final selections are almost inevitably tied to the homeowner’s emotional connection to a particular color. “You’re drawn to different colors for reasons depending on your distinct personality. The feelings that stem from the five senses are the best sources to identify meaningful colors best suited for your personality, style and interests. Color preferences are unique, and choosing a color is a personal exercise.”
innovative design trends from industry professionals, including LG’s Studio Series. Dwell recommends trends you can incorporate into your kitchen remodel or build to give it sophisticated style, yet also make it operational: • Incorporate bold colors in unexpected places. For example, pop your sink or cabinets out with a striking color against more neutral countertops, walls and floors. This trend makes the kitchen visually appealing, arresting the eyes in different locations. • Recycling has gone beyond just hiding containers for aluminum, plastic and paper under the kitchen sink or in a closet. More modern kitchens are incor-
porating recycled content in the design and build. From flooring to countertops to light fixtures, the opportunities to make kitchens green are endless. • Built-in appliances are the rage because they add to the beauty of the room, rather than interrupting the design. Some of the newest built-in products like the Studio Series contain professional grade features on ovens, ranges and refrigerators that aren’t traditionally found in private kitchens. For example, LG’s UltraHeat feature is one of the most powerful burners on a freestanding range, making it easier to achieve great cooking results with gourmet meals. And LG’s oven InfraGrill system utilizes infrared
heating elements to keep food juicier than traditional thermal cooking does. • Choose products that combine production and entertainment. There are many gadgets that do double duty. For example, sink covers allow users to extend countertop space and cabinets can hold dishes, but also have built-in speakers for a complete surround sound experience in the kitchen. Designing the ultimate kitchen experience in your home can be very rewarding for your family, Ohtake says. “And with your new culinary techniques, and the right kitchen ambiance, you’ll be entertaining in grand style for many years to come.”
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Local Real Estate News – Lubbock Association of Realtors
Making a good offer; taking the variables into account
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BY Joe L. Murfee, III, President Lubbock Association of REALTORS®
After days of searching on the Internet, attending open houses, and motoring around town with your Lubbock Realtor, you finally found a house that you want to call yours. Now you’re ready to make the purchase – so the next logical step is preparing an offer. Let’s look at a few things to help get MURFEE you started. Start with a number Obviously, the price you initially write into the contract has much to do with whether the seller looks favorably upon your offer. But, how do you come up with that figure? There are
several factors to consider. Determine how the home stacks up to similar properties in the immediate area. The most reliable way to make this evaluation is to look at recently sold homes in the same neighborhood – real estate professionals call these “comps.” Comps are an important part of determining price because they reflect local, i.e. neighborhood, conditions. Real estate markets are localized, so the sales price of a home across town may have very little to do with what a home in another area of town is worth. The size of a home is a major factor in determining an offer; you would generally expect to pay less for a home that’s smaller than the neighborhood average. As with most things in real estate, though, there may be other variables to take into account. A smaller property with desirable upgrades can be worth substantially more than a larger house that needs
serious work. The type of market you’re in also plays a part. If you’ve lost out on three bidding wars because you’re doing business in a seller’s market, you might be more likely to make an offer that approaches the asking price. A buyer’s market may give you more leeway. Keep in mind, though, that it only takes one other offer to knock you out of contention. It’s not all about money Hitting a seller’s magic number does not necessarily guarantee he will accept your offer. Several other aspects of your offer can improve or sink your chances. For starters, the homeowner will look at the amount of earnest money in the proposed contract. A higher number shows a higher level of sincerity about the purchase and may place your offer above other similar offers. Some sellers may have a strong
preference for when they close on the sale. If you can meet their timeline, your offer gains strength. When you can help it, stay away from contingencies. When you can’t help it, make those contingencies as moderate as you can. Why? Put yourself in the seller’s shoes. A slightly lower offer may be more attractive than a higher offer that’s contingent on the buyer needing to sell his own home. The more you ask for from the seller, the weaker your offer. That’s not to say that you shouldn’t make a purchase contingent on selling your home first, or that you shouldn’t ask for the patio furniture to convey if that’s important to you. Just know that each request may take a bit of luster off your offer. Give yourself options There’s a provision in the standard residential contract whereby you can
purchase a termination option. This non-refundable fee buys you an option period – time to back out of the transaction for any reason. You’d use this timeframe to have the home inspected and otherwise evaluate whether you want to proceed with the transaction. The amount of the fee and the length of the option period are negotiable. While you don’t want to propose an option period that’s so long the seller will reject your offer, be sure to give yourself enough time to schedule inspections and weigh your decision before proceeding. Many things combine to make an attractive offer. Your Lubbock Realtor can help you determine how to put together an offer that gives you the best chance of getting the home you want at terms that are favorable to you. For more great tips about real estate, visit LubbockRealtors.com, the consumer site of the Lubbock Association of Realtors.
Things to consider when budgeting your home improvement project
Coldwell Banker Real Estate launches first-time buyers resource online
Home improvement projects have become de rigueur for today’s homeowners. Be it a kitchen remodel or the ever popular man cave project, home improvement projects remain a goal for many homeowners. As enticing as a home improvement project might be, no project can be successful until a budget has been established. The right budget will keep homeowners from going deep into debt when improving their homes, ensuring that, upon the project’s completion, they can fully enjoy their revamped castles without the specter of significant debt hanging ominously over their heads. Before beginning a home improvement project, homeowners can take the following things into consideration. • Personal finances: It sounds simple, but homeowners must examine their finances before starting a home improvement project. Just because a bank will loan out money for a project doesn’t mean the project is affordable. Homeowners should compare their monthly expenses with their incomes, and then determine what’s left that might be able to go toward a project. Monthly expenses include everything from groceries to mortgage payments. When the comparison between monthly expenses and monthly income has been made, homeowners can get
PARSIPPANY, N.J. – Taking the next step to help people turn their dreams of homeownership into realities, Coldwell Banker Real Estate LLC launched a new portal on its website specifically for first-time home buyers. The First-Time Home Buyers Resource Center includes videos, articles and tools to answer questions and guide new home buyers through the real estate search process. According to the National Association of Realtors (NAR), firsttime home buyers accounted for half of all the real estate market home sales in 2010. A recent survey by Coldwell Banker Real Estate found that 93 percent of first-time home buyers said using online tools to find detailed information about homes was important to them. “Buying your first home is exciting but it can also be overwhelming, so we created this section for first-time homebuyers to simplify the steps toward home ownership, and make the process easier and enjoyable,” said Jim Gillespie, chief executive officer, Coldwell Banker Real Estate LLC. “I, like most, remember buying my first home and going through a process that was complex, emotional and rewarding all at the same time. Today, first-time homebuyers recognize that if they have the financial wherewithal, now is a smart time to buy a home. The First-Time Home Buyers Resource Center helps give them the confidence to enter the real estate market and gain valuable insight so they can best work with their agent.” The new web portal, which will be updated regularly with timely content to help first-time home buyers, provides informative features from coldwellbanker.com, including multiple ways to search and recommendations for like properties. It also includes: • Video tips and advice about selecting a home, moving, renovating, and decorating • Informative articles on such topics as how to select a real estate agent, identifying wish list items vs. must-have items for a first home and determining how much is affordable • Mortgage calculator • Affordability radar – This feature breaks down a home’s listing price into what the monthly payment might be at current mortgage rates The new First-Time Home Buyers Resource Center is a continuation of the Coldwell Banker Real Estate innovative online resources. Coldwellbanker.com already features BlueScape, a unique way to search for homes by emotion and feelings. Clients select from a series of images that they like or dislike and the site returns a group of homes that might meet their needs. The website also has a lifestyle search, which allows people to use a simple, sliding scale to rate elements of a home and community that matter most to them. In addition, Coldwell Banker Real Estate partnered with YouTube to develop Coldwell Banker On Location. This site allows consumers to gain market perspective, community highlights and home video listings from Coldwell Banker sales professionals. More than 2.5 million channel views have been recorded since its launch in May 2009. Since 1906, the Coldwell Banker® organization has been a premier provider of full-service residential and commercial real estate. Coldwell Banker is the oldest national real estate brand in the United States and today has a network of nearly 87,000 sales associates and brokers working in approximately 3,100 offices in 49 countries and territories. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.
a grasp of just what they can and cannot afford. • Credit score: Many homeowners finance home improvement projects with loans from the bank. Particularly in the current economy when banks are being forced to tighten lending requirements, securing such loans isn’t easy. Homeowners with significant credit card debt should eliminate such debt before beginning a project. Doing so serves multiple purposes. First and foremost, eliminating outstanding debt will free up more money to allocate toward the project. Eliminating debt will also make loan applicants more attractive to prospective creditors, increasing their chances of securing a loan and a lower interest rate. • The project’s priority: Budgeting a home improvement project also involves being honest as to just how necessary the project is. For example, a man cave might be a dream project, but should it be a priority over other things around the house? If wear and tear is taking its toll on the roof, for instance, the money going toward the man cave should probably be allocated to replacing the roof instead. If a project is low on the priority list but high on the want list, re-examine those projects higher up on the priority list to determine if they are more deserving of immediate attention and funds than vanity projects.
Before beginning a home improvement project, homeowners should construct a budget to ensure the project is a success. • Overrun costs: Not every home improvement project will come in at or under budget. Many, in fact, go over budget due to a host of factors. Homeowners should not be caught off guard when a project goes over budget. Instead, plan for the proj-
ect to go over budget and expect such frustration. Allocate extra money in the original budget for overrun costs. This will reduce stress and frustration, and if the project comes in under budget, then there’s extra money when the project is completed.
New-home sales decline 2.3 percent in August Sales of newly built, single-family homes declined 2.3 percent to a seasonally adjusted annual rate of 295,000 units in August, according to newly released data from the U.S. Commerce Department. The decline is from an upwardly revised, 302,000-unit rate in the previous month. “The number of foreclosed homes on the market continues to pose major challenges, not just to builders who have to compete against that low-priced product, but also to buyers who need to sell an existing home before trading up to a new one,” said Bob Nielsen, Chairman of the National Association of Home Builders (NAHB) and a home
builder from Reno, Nev. “As the price data show, entry-level homes are generally driving the new-home market right now, and that’s because first-time buyers don’t have another home they have to sell.” “As builders in our recent surveys have been telling us, the lull in new-home sales continued even as mortgage rates held at extremely favorable levels in August. This is partly because continuing tight credit conditions are dissuading even well-qualified buyers, who are having trouble obtaining the good rates that are out there,” said NAHB Chief Economist David Crowe. “However, on a positive note, today’s num-
bers confirm that builders are wisely refraining from adding to the inventory of unsold new homes, which is currently at a 49-year low.” The only region to register an increase in new-home sales in August was the Midwest, where sales rose 8.2 percent. Meanwhile, the Northeast, South and West posted declines of 13.6 percent, 2.4 percent and 6.3 percent, respectively. The inventory of new homes for sale fell to 162,000 units in August, a new record low. However, due to the slower sales pace, the months’ supply of new homes rose slightly, to 6.6.
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