Real Estate LUBBOCK AVALANCHE-JOURNAL
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Why do you live in the Lubbock area? What do you like most about it? After living away for 13 years (finding my beautiful wife and starting a family), we moved back to be close to my parents and nephews in light of a family tragedy we all experienced. Although moving back to Lubbock was not in our plans, we know that something greater was planned for us, so here we are and feel that being here in Lubbock is exactly where we are supposed to be to love and to serve. How long have you worked in real estate? And before that? I joined the ranks of Lubbock Realtors in August of 2009 after working in vocational ministry. Our move back to Lubbock in 2008 was a part of what changed my
What strengths do you have? I love working with people who are buying their first home! It is very exciting to
at its
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proach to sales and customer care. I want my clients to have an advantage because I work for them! What tips do you have for someone looking to buy or sell a home? First I encourage everyone to define their motivations for themselves. Ask the big question “Why?” first. When that is answered, please consult a professional Realtor to fleshout an understanding of what it takes to sell or purchase a home. Make sure you are in the right place in life to make such a big and wonderful commitment. As these things are in place or have been easily addressed then enjoy the ride!
life and direction. I decided that being in Pastoral ministry was something that could exist in my life no matter my vocation. I have had some amazing opportunities to help others while in real estate that I would not have had before. I am thankful for my life’s direction and totally enjoying the real estate industry. Being in this business has been rewarding and has given me the opportunity to understand something extremely important to people in a whole new light: their home, their investments, and their money. Why should someone choose you as their real estate agent? My desire is that those who choose me as their Realtor do so because they sense that I work for them. I have their best in mind. I value serving with all of my being. Trust, respect, and service are key to what I want to give my clients. Ultimately with all of that they will have an excellent real estate experience and get the best deal possible.
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Century 21 John Walton Realtors (806) 445-1754 michael.hutton@century21.com Where did you grow up? I grew up in Lubbock and went through the Lubbock school system: Bayless, Atkins, Monterey, and Texas Tech. I graduated from Tech in 1993, then headed to Wilmore, Kentucky where I graduated from Asbury Theological Seminary in 1998. To be honest, I aim to grow up and learn more every day!
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Michael Hutton, Century 21 John Walton Realtors Photo by Misty Setzler
help people map out their future plans for life through their home. Move-up buyers and transferees have different needs. Whether moving in or out, they are in transition and need the extra care of a professional on their side. That is my specialty. Finally,
investors are usually trying to set-up some financial security or plan for expenses or retirement down the road. I enjoy helping people establish a stream of income for their future because I am doing the same thing for my family. My experiences inform my ap-
What do you see in the future for real estate sales? I have a strong sense of confidence and optimism in our nation, state, and region. The real estate market’s stability is truly a local reality. As we stand strong as a community and maintain wise financial/lifestyle practices then we truly have nothing to fear. I have faith that providence will bring the resources we need day in and day out to make West Texas a wonderful place to live on into the future! Lubbock being such a stable place with steady growth means that our properties will sustain their value and gradually increase over time. Give me a call and we can discuss the details!
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Color is a quick and inexpensive way to give a room new life. A coat of paint on the walls does wonders, while colorful accessories and new lighting can add new flair. In just a weekend you can have an out-dated room looking new again!
Spring into home improvement with weekend wonder projects (ARA) – Sprucing up your home doesn’t have to mean spending huge amounts of time and money. In fact, there are many projects that you can complete in a weekend that will improve the look and feel of your home. With a little guidance and the right tools, you can easily get your home in top shape by Monday morning. Paint Refresh – Commonly recognized as one of the most easy and cost-effective interior updates, painting is a weekend project that can completely transform the aesthetic of your home. When purchasing paint, a quality product will ensure your end results are beautiful. Low-quality, inexpensive paint will likely require a number of coats to get the coverage needed – resulting in more time and money spent. To avoid increased time and cost, use a premium line of paint for excellent hide and outstanding durability. When choosing paint for your next weekend project, remember that a quality product will achieve the best end result and save you time and money in the long run. Lighting Update – Tired of the same old lamps sitting on your end tables but don’t have the funds to revamp your lighting decor? A new lamp shade will completely change the look of any piece. You can also easily transform pieces by renewing the lamp bases; a quick walk down the spray paint aisle will show limitless possibilities of colors and finishes. You can even renew plastic pieces with Krylon Fusion for Plastic, the first paint of its kind. Create a
cohesive look by bringing that new finish to your hanging fixtures as well. Accessorize – Adding trendy, fun accessories will give any room a new and more put-together look. Think vases and bowls, wall art and rugs. When adding accessories, look for colors that complement what is already in the room. Plants and flowers can also add energy and color, some with the added bonus of a pleasant aroma. Furniture Renewal – One easy way to update furniture on a budget is by recovering it or using slip covers. Pre-made covers are available in a wide variety of fabrics and designs, or you can create a custom cover for your sofa or armchair. More ambitious crafters may actually reupholster furniture to create a completely new-looking seating option. After re-padding and covering cushions, sand and stain or paint wood pieces for a completely modern feel. Modern Flooring – Carpet has seen better days? Replace it. Hardwood is scuffed and dull? Refinish it. You can also achieve the look of natural wood or stone flooring with luxury vinyl tile. This affordable option is no longer your grandmother’s vinyl, now available in a variety of natural finishes that are both durable and modern. If replacing isn’t in your budget, simply give your flooring a good cleaning and use accent rugs to cover blemished areas. Check off a project on your home improvement to-do list this weekend, and enjoy the results for many more weekends to come.
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Local Real Estate News – Lubbock Association of Realtors
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Close the deal with ease BY Debora Perez Ruiz, President Lubbock Association of REALTORS®
Many homebuyers mistakenly confuse getting an accepted contract on a home with closing the deal. Don’t be one of them. Realtors refer to this challenging period as “contract to close.” Of course, getting a signed contract is reason for celebration for both the buyer and the seller, but there’s still a long way to go before the home buying transac- RUIZ tion can be successfully completed. There are a variety of things that can happen during “contract to close” to derail the process. While they may not halt the sale altogether, each can potentially cause lengthy delays and even escalate into a legal matter. Understanding some of the most common pitfalls can help you successfully close the deal. Show Me the Money You will need to have some funds available at closing, but your lender will provide you with a good faith estimate of all your closing costs within three business days of filing your loan application. Closing costs include charges for establishing and transferring ownership, and the costs of getting a mortgage, including the appraisal, credit checks, loan documentation fees, notary charges, loan origination and underwriting. So, before the closing process begins, make sure you budget for the necessary funds. On Closer Inspection If you are looking at purchasing a home but still need to get the home inspected, consider purchasing an option period to protect yourself. An option period allows you to buy some time, without losing the contract or your earnest money, to have the property professionally inspected prior to closing. In fact, the option provision allows buyers
to terminate a new-home or resale contract – for any reason at all – and still receive a refund of their earnest money. The length of the option period will vary depending on the terms of the contract. For a list of licensed home inspectors affiliated with the Lubbock Association of Realtors, visit LubbockRealtors.com. It All Depends Contingencies make the contract dependent on some action, such as securing financing or selling an existing home before purchasing another. If either party fails to meet the contingencies as laid out in the contract, the sale could potentially fall through. What happens at that point depends on the circumstances and the specifics agreed upon in the contract. Working on Deadline It’s important to meet any deadlines outlined in the sales contract. Failure to do so could delay the sale or allow the seller to find another buyer. If it looks like a deadline is unattainable, inform your Lubbock Realtor right away so he or she can help meet the deadline or get an extension if possible. Getting Cold Feet Some buyers and sellers find that somewhere between the contract and the closing process they get cold feet. Maybe the seller has decided that “moving up” isn’t the right financial decision at this time. Perhaps the buyer realizes the monthly mortgage will stretch her budget too thin. Whatever the case, getting cold feet happens. And it helps to know what to look out for – no matter what side of the transaction you’re on. If you’re the one having second thoughts, talk with your Lubbock Realtor right away. Discussing your situation may help you remember why you do want to move ahead after all – or you can work toward the best resolution rather than springing a last-minute surprise. For more advice about buying and selling real estate in Lubbock and Texas, I invite you to visit LubbockRealtors.com and TexasRealEstate.com.
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Builder confidence up 6 points in July Builder confidence in the market for newly built, single-family homes rose six points to 35 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for July. This is the largest one-month gain recorded by the index in nearly a decade, and brings the HMI to its highest point since March of 2007. “Builder confidence increased by solid margins in every region of the country in July as views of current sales conditions, prospects for future sales and traffic of prospective buyers all improved,” said Barry Rutenberg, chairman of the National Association of Home Builders (NAHB). “This is greater evidence that the housing market has turned the corner as more buyers perceive the benefits of purchasing a newly built home while interest rates and prices are so favorable.” “Combined with the upward movement we’ve seen in other key housing indicators over the past six months, this report adds to the growing acknowledgement that housing – though still in a fragile stage of recovery – is returning to its more traditional role of leading the economy out of recession,” noted NAHB Chief Economist David Crowe. “This is particularly encouraging at a time when other parts of the economy have begun to
show softness, and is all the more reason that the challenges constraining housing’s recovery need to be resolved.” Derived from a monthly survey that NAHB has been conducting for the past 25 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor. Every HMI component recorded gains in July. The components gauging current sales conditions and traffic of prospective buyers each rose six points, to 37 and 29, respectively, while the component gauging sales expectations for the next six months rose 11 points to 44. Likewise, every region posted HMI gains in July. The Northeast registered an eightpoint gain to 36, while the Midwest gained three points to 34, the South gained five points to 32 and the West gained 12 points to 44.
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Featured Floorplan – Madewell Homes
4622 121st Street – Vintage Township Established in 2005, Vintage Township was created with a vision to build a neighborhood unlike anything in Lubbock. A community where distinctive home architecture, tree-lined streets, wider sidewalks, a walkable neighborhood and socializing were the norm and would be fostered. Vintage Township is now Lubbock’s fastest growing neighborhood, with more than 200 fam-
ilies and individuals making the neighborhood their home. This week’s Featured Home – “The Cambridge” – is being built in the Colonial Farmhouse style and is one of the newest designs by Madewell Homes in Vintage Township. This Featured Home is presented by the West Texas Home Builders Association with cooperation of the Lubbock Avalanche Journal. This 4 bedroom/3 bath home located at 4622 121st Street will feature a distinctive two-story exterior with a spacious front porch and relaxing backyard retreat. From the moment you step up to the welcoming covered front porch, you’ll feel instantly at home in this practical, yet timeless home. With your convenience in mind, the front door opens into a breathtaking interior view of the sunlight-filled two story windows that overlook the spacious, landscaped back yard. The Cambridge’s living area offers a beautiful setting for family get-togethers or quiet nights at home in front of the elegantly framed fireplace. A separate dining area opens seamlessly to the right, offering a special place to cherish family dinners together with magnificent views view of Salisbury Park. As you continue your exploration of the Cambridge, you’ll also notice a discreet hallway to left leading to a full bath, as well as a ground floor guest bedroom with sunlight filled windows facing the front porch and park views. The open feel of the living room and dining
area transition easily to the spacious kitchen with island and breakfast area. The kitchen will be love at first sight with its endless modern features blended with timeless craftsmanship. A beautifully designed island for extra counter space, granite countertops, pantry, and seemingly endless cabinet space are just a few of the highlights of this culinary paradise. You’ll also find a carefully designed utility area nestled behind the kitchen with convenient workable counter space and cabinet storage. The expansive ground floor master suite is located near the back of the home with French doors revealing a garden view and private access to the outdoor terrace. A large master bath offers flexibility with a double vanity and promises relaxing moments with its large whirlpool garden tub and separate modern shower area. As you continue through the master bath into the walk-in closet, you’ll find the perfect space for your wardrobe, complete with shelves and smart-storage details. As you visit the Cambridge’s second story, a unique design feature is revealed as you are welcomed to the second level by an elegant landing
overlooking the open spaces of the living room and outdoor views. Two more upstairs bedrooms as well another full bath and an additional storage closet follow in the open floor plan that completes the second floor. With an expected completion date of early Fall 2012, the “Cambridge” will be a gorgeous addition to the exclusive homes surrounding Vintage Township’s new Salisbury Park. This lovely park and the surrounding homes were the setting for the 2011 Parade of Homes, featuring a beautiful classical gazebo, a whimsical Splash Pad water feature, a formal lawn, playground and perennial garden. Available for Pre-Sale now, the Cambridge is the perfect choice for the person who enjoys new construction, but may prefer a simplified building process. The Cambridge is just one of many innovative and beautiful ready-tobuild plans offered by Madewell Homes in Vintage Township. With a diverse selection of housing sizes and prices starting at just $130,000, Madewell Homes and Vintage Township can make building your dream home a reality. Call (806) 771-1117 for information today or visit online at www.vintagetownship.com.
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