Lubbock AJ Real Estate Section 2012-08-18 by Lubbock Avalanche-Journal

Real Estate LUBBOCK AVALANCHE-JOURNAL

SATURDAY AUGUST 18, 2012

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Josh Allen

What do you enjoy doing when you’re not working? I love spending time with my best friend/wife Paige and our two little girls (Selah 2; Haven 1 month old). I am heavily involved at Church on the Rock, and my wife and I lead many annual overseas mission trips. What is your specialty? I honestly love and con-

sider it a privilege helping home buyers and sellers with their most prized possession. But my background and love in the financial arena, allow me to help investors consider the many different ways to invest in real estate whether it’s single family ownership, apartments/multi-family, or even commercial and land. I have done it all and this diversity really allows me to walk anyone through maximizing their return on investment How long have you worked in real estate? Gosh it has gone by fast, but 8+ years. What did you do before that? I am a financial guy who loves helping people, so I have owned my own investment company out of college helping clients maximize their investments. What are the most gratifying and most challenging aspects of what you do? The challenge is to really help clients focus on what is most important for them and not assuming I know the answer or rushing to push them into something or misunderstand their real

homes. lubbock online .com Search 1000s of MLS and classified listings in the Lubbock area

Real Living Greg Garrett 806-239-5313 Joshallentexs@gmail.com

Why do you live in the Lubbock area? What do you like most about it? We felt God call us here (crazy I know), but now I love it and am one of Lubbock’s biggest promoters, especially to all my big city peers. As a former “big city kid,” I love the community and relational feel you do not get in big cities. I love the unity that Texas Tech brings even for those of us not officially associated with the university. I love the quality of life and ease of getting around.

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Realtor Revealed Where did you grow up? Dallas was pretty much home for most of my life, and then I went to college in Tulsa and met a pretty girl from Lubbock who I guess pulled me to Lubbock despite my initial reservations!

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Search for farms, ranches, and foreclosures throughout the US View open houses complete with a map every Friday, Saturday, and Sunday Josh Allen, Real Living Greg Garrett needs. The most gratifying aspect of our work is the look of satisfaction that results from a successful close. Not every transaction is easy, but when we work hard and solve problems we are all pleased. What is the most unique property you’ve listed or sold? I call it the “bird house” as it was an architect’s personally designed home in a great neighborhood. But as unique as the home was, there were many very large birds and parrots that greeted you in a loud and surprising manner each time you entered the

Photo by Deborah Hughes - Aric & Casey Photography

home. I will never forget that one! What tips do you have for someone looking to buy or sell a home? Work with an agent who can fully present all of your options so you make the best decision. Ask them to describe how they solve problems and create solutions. At the heart of our job, that is the majority of what we dosolve problems and create solutions. What do you see in the future for real estate sales? As many already know,

Lubbock has continued to prove its resilience and steady growth in the face of a difficult national economy. I would not bank on any exceptional increase in sales prices, but as long as you purchase your home at median sales prices I think we can expect slow steady growth. The higher end price point $400,000+ has the slowest demand and is not matching the large supply on the market hence putting these homes at risk of price depreciation. I would just use wisdom when making your purchase decision at the higher end of the market.

Read local news articles, featured, Realtor Revealed articles, floor plans, home improvement articles, and much more

To Advertise Call... Josh Horsey 806-766-8653 Kendall Krohn 806-766-8646

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Homes.LubbockOnline.com’s Picks of the Week

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The Popular 3-2 Home This week’s featured picks from homes.lubbockonline.com are new listings in the Lubbock area. Varying in price and style, each home features three bedrooms and two bathrooms. 1. This superb three-bedroom, two-bath garden home offers storage galore in 1,854 square feet. The very open floor plan features a large kitchen and an isolated master suite with double vanities, separate air flow tub and shower, and a huge closet. When evenings are nice, enjoy the outdoor courtyard area with flowering plants galore! There is a large utility room with a big closet and a 9 x 14.6 workshop with electricity. See this home at 3516 104th St.; the price is $165,000. MLS# 9989478

healthy lawn front and back yard, wonderful covered patio, wood burning fireplace, spacious kitchen with breakfast bar, stained cabinets, black appliance package, isolated master suite with air-flow tub, his and her vanity, separate shower, and two master closets. The price is $117,000 for a total of 1,532 square feet. MLS# 9989476 3. This former model home was built by Creative Homes and is loaded with extras! A classic 3/2/2 floorplan, the home features wood flooring, double sided fireplace, alarm, sound system throughout, a rear entry garage, and tons of upgrades. Don’t miss this one at a price of $206,500! You’ll find this gem on a corner lot at 5826 102nd St. MLS# 9989373.

upgrades galore. Come home to a peaceful covered front porch, granite countertops, hardwood floors, stainless steel appliances, cathedral ceiling in living room, isolated master suite with separate tub and shower, and so much more! There is even a great bonus room with a sink – perfect for an art studio or craft room. Come view this home today! This three-bedroom, two-bath home is priced at $269,900. MLS# 9989450

5. This home is a rare find! Located at 4202-#15 78th St., this gorgeous garden home is in an exclusive gated area and offers lots of charm and character. Containing 3,176 square feet, the one-owner home is very well maintained. The home features two living areas and two dining areas. There are 2. Located at 10613 Cantwo large bedrooms upstairs ton Ave., this charming and 4. This new listing is a charm- with a jack-n-jill bath. There is beautifully-kept three-bedroom, ing newer home in Vintage also a large area upstairs for two-bath home in Cooper ISD Township. Located at 12115 a third living area or for use is priced to sell! This fabulous Salisbury Blvd., this home as a children’s space. Other open floor plan features: a has excellent curb appeal and features include a small area

for a library and a pergola in the backyard for watching the sun set. This home is priced at $365,000. MLS # 9989019 6. Southwest Lubbock is the location for this gorgeous home on almost a half-acre lot. Featuring a large open floor plan with a basement, this home at 6910 89th St. is 2,747 square feet with three bedrooms, two bathrooms and a half bath. Additional features include professional faux painted walls, very elegant upgrades, a desk area in kitchen, and granite counter tops throughout. The large yard has a pond, covered porch, and a workshop. The basement is a good size and could be used for a workout room, a second living area or could easily become a home theater. The price is $330,000. MLS# 9988898 For more information and pictures about these and other homes, go to homes.lubbockonline.com and enter in the MLS# provided.

Go online & view hundreds of listings in the Lubbock area, read home improvement articles, real estate tips, & local news. homes.lubbockonline.com “Your best source for housing in the lubbock area”

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Real Estate

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Local Real Estate News – Lubbock Association of Realtors

Brokerage relationships: understanding who’s who in real estate BY Debora Perez Ruiz, President Lubbock Association of REALTORS®

The business of real estate can be pretty confusing, even for those that have bought and sold several homes. Between the forest of legal documents, unfamiliar terms and lingo, even the simplest real estate transaction can be like venturing into uncharted waters. When you add that RUIZ buying a home is one of the largest financial purchases most of us will make – well, that can also be intimidating. Realtor®, Buyer’s Broker And Listing Broker It’s important that consumers understand the broker’s role in any real estate transaction, whether you’re buying your first house or your tenth. Let’s start with a Realtor. First, not every real estate broker or salesman is a Realtor. Only those who are members of the National Association of REALTORS® and who have pledged to follow NAR’s code of ethics are REALTORS®. A buyer’s broker is a person retained by a buyer to help him purchase real estate and represent him in the transaction. The buyer’s broker can consult with and advise the buyer about the state of the market, available properties, financing, property values and all the other details involved in buying real estate. A seller might choose to retain a listing broker, to help them market and sell real estate, more commonly known as “list” a house for sale. A listing

broker’s primary loyalty is to the seller, and will likely advise the seller about property values, asking price, and negotiation and marketing strategies. Finally, there’s also an intermediary. This person is a broker who acts as intermediary between buyer and seller in the same transaction. The intermediary’s job is to act fairly and not favor one party over the other. Usually a broker becomes an intermediary when a buyer that the broker has agreed to represent wants to purchase a property that the broker has listed for sale. Uncharted Waters For Representation Now that you know who’s who in a transaction, it’s important to know where things can get a little confusing. The real estate transaction is basically simple when you’re buying or selling an existing house. You hire a Realtor who helps you find the house you want, and that person represents you until closing. When you sell a home, you can hire a Realtor who helps you both sell your old home and buy another. But what about when you buy a new home – built from the ground up – from a homebuilder? Who’s looking out for your best interests then? Many people think they don’t need an agent when they’re buying a brand-new home. It’s always helpful to have a knowledgeable adviser who can help you negotiate the best deal – new house or old. Remember that all prices, concessions, allowances, and other provisions are always negotiable. In any big financial transaction, it pays to be informed and have someone that will advise you through the process. For more advice about buying and selling real estate, visit LubbockRealtors.com and TexasRealEstate.com.

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Sellers: leave your home to your agent and buying customers BY Gayle Ninemire Prudential Anderson Properties

Should I stay or should I go when my home is showing? Gently put, most agents say that when potential homebuyers come to see your home, it’s best that you leave the premises. Perspective buyers don’t want to see owners hovering or milling about. When they do, they get uncomfortable and feel as if they are intruding. This often causes buyers to look quickly without gaining a proper feel for the home. The reason sellers give for sticking around is that they believe home shoppers won’t be able to find everything, and the sellers want to point out the important features. Another is that owners feel they can help “sell” the property by talking about the positives. Rest assured your real estate agent is well trained in showcasing your home, as well as in reading buyers and knowing when it’s best to relay

information to them. If you bombard a seller with too much information all at once, you are going to leave a lessfavorable impression. You might even hurt your cause by calling attention to something buyers aren’t interested in. Let buyers discover your home’s features themselves at their own pace. Some sellers choose to wait outside in their car or on the patio, which is better, but still not ideal. Again, if prospective buyers feel like they are being rushed they are going to move on to the next property on their list quickly. Face it, there are some parts of selling a home that can be challenging and vacating the home is at the top of that list – especially when there are kids to care for, dinners to cook and work to be done. However, you want buyers to spend as much time as they want in your home, envisioning the possibility of living there someday. So go to a neighbor’s home, the library or shopping. The inconvenience will be worth it in the long run.

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Real Estate

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Rising home prices push affordability slightly lower in second quarter Strengthening house prices in metros across the country contributed to slightly lower housing affordability in the second quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). The latest HOI data reveal that 73.8 percent of all new and existing homes sold in the second quarter were affordable to families earning the national median income of $65,000. This is down from a record high 77.5 percent of homes that were affordable to median-income earners as of the first quarter, and is largely attributable to rising prices in metros across the country. A full 92 percent of metros covered in the latest HOI saw their median home prices rise between the first and second quarter. “While interest rates and overall housing affordability remain very favorable on a historic basis, the decline in the latest HOI is a positive development because it is another signal that the housing recovery is starting to take root, and it lends Rutenberg needed confidence to prospective buyers and sellers who have been reluctant to move forward in the current marketplace,” said NAHB Chairman Barry Rutenberg, a home builder from Gainesville, Fla. The most affordable major housing market in this year’s second quarter was Youngstown-Warren-Boardman, Ohio-Pa., where 93.4 percent of homes sold during the period were affordable to households earning the area’s median family income of $55,700.

Also ranking among the most affordable major housing markets in respective order were Dayton, Ohio; Buffalo-Niagara Falls, N.Y.; Indianapolis-Carmel, Ind.; and Modesto, Calif. Among smaller housing markets, Fairbanks, Alaska topped the affordability chart with 98.7 percent of homes sold during the second quarter being affordable to families earning the area’s median income of $92,900. Other smaller housing markets at the top of the index include Mansfield and Springfield, Ohio; Carson City, Nev.; and Kokomo, Ind. Meanwhile, New York- White PlainsWayne, N.Y.-N.J. retained the title of the least affordable major housing market in the country for a 17th consecutive quarter, with just 29.4 percent of homes sold there being affordable to families earning the area’s median income of $68,300 as of the second quarter. Other major metros at the bottom of the affordability chart included San Francisco-San Mateo-Redwood City, Calif.; Bridgeport-Stamford-Norwalk, Conn.; Santa Ana-Anaheim-Irvine, Calif.; and Los Angeles-Long Beach-Glendale, Calif.; in that order. Ocean City, N.J., retained its title as the least affordable smaller housing market in the second quarter, with just 43.8 percent of homes sold in the second quarter affordable to families earning the median income of $71,100. Other small metros at the bottom of the list included San Luis Obispo-Paso Robles, Calif.; Santa CruzWatsonville, Calif.; Dover, Del.; and Santa Barbara-Santa Maria-Goleta, Calif., respectively. Please visit www.nahb.org/hoi for tables, historic data and details.

Builder confidence in the 55+ housing market shows improvement in Q2 WASHINGTON – Builder confidence in the 55+ housing market for single-family homes showed improvement in the second quarter of 2012 compared to the same period a year ago, according to the National Association of Home Builders’ (NAHB) latest 55+ Housing Market Index (HMI). The index more than doubled year over year from a level of 13 to 29, which is the highest second-quarter reading since the inception of the index in 2008. “Builders and developers in the 55+ housing segment continue to show increased confidence in the market,” said

NAHB 50+ Housing Council Chairman W. Don Whyte. “As the share of 55+ households continues to grow in all regions across the country, we have a unique opportunity to create communities that address specific needs of the mature homebuyer.” “We are seeing buyers slowly return to the 55+ housing market as home prices begin to improve” said NAHB Chief Economist David Crowe. “This helps unlock some of the pent-up demand from 55+ consumers who have been sitting on the sidelines until they are able to sell their current homes at a reasonable price.”

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Featured Floorplan – Betenbough Homes

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‘Ann’ Model Home – 6517 82nd St.

etenbough Homes is proud to showcase the stunning Ann model home at 6517 82nd St. Ann is one of three fully furnished, professionally landscaped and decorated model homes at the Betenbough New Home Center. Located near the corner of 82nd Street and Milwaukee Avenue, the New Home Center is nestled in southwest Lubbock, near Betenbough Homes’ Quincy Park community, which features brand-new homes from the $100s. This community boasts three and four bedroom floor plans ranging from 1,300 square feet to more than 3,200 square feet. “Along with beautiful homes, Quincy Park offers an exclusive 3-acre lake and 9-acre park. The lake and park provide the perfect backdrop for families to enjoy our community,” said Ron Betenbough, vice president of Betenbough Homes. Priced at approximately $80 per square foot, Ann has 2,022 square feet of living space featuring a grand entrance with ceramic tile flooring and an open and inviting family area. This popular four-bedroom, two-bathroom home also includes covered front and back porches, corner brick fireplace, spacious kitchen with bar area, large two-car garage and a secluded master suite. The master suite bathroom includes his and hers closets and a marble vanity accentuated by a beautiful garden tub. Included features with this floor plan are decorative, rounded wall corners, 10-foot ceiling in the family area, 12”x12” ceramic tile, electric range, dishwasher, maple furniture-finished cabinets, and no paint exterior, as well as a weather-treated 6’ privacy fence, depending on the com-

munity. Visitors are welcome to view the Ann as well as the other fully furnished models Monday through Saturday, 10 a.m. to 6 p.m. at the Betenbough New Home Center. For more information on Quincy Park or the Ann, please visit a Betenbough New Home Specialist at the New Home Center or call (806) 687-8787. A great time to tour the Ann floor plan will be during Betenbough Homes Summer Concert on the Lawn featuring Josh Wilson. This free, family-friendly event will be Thursday, August 23 from 8-9:30 p.m. at the New Home Center. ASCAP’s Songwriter/Artist of the Year, Josh Wilson’s hits include “Before the Morning,” “Savior Please,” “I Refuse,” and “Fall Apart.” The concert will benefit the Humane Society of West Texas. Visit Betenbough.com for event details. Betenbough Homes, West Texas’ No. 1 home builder, was founded in 1992 when father and son duo, Ron and Rick Betenbough, teamed up to deliver quality homes at the most competitive price. Based in Lubbock, Texas, Betenbough Homes has built more than 4,000 homes in communities across West Texas. Recently named one of America’s Top 100 Builders by Builder magazine, Betenbough Homes is an employee-owned, faith-based home building company passionate about people and committed to providing West Texans with an unparalleled home buying experience and more home for less money. For more information on Betenbough Homes, visit betenbough.com or call (806) 687-8787. This home is sponsored by the West Texas Home Builders Association in cooperation with the Lubbock AvalancheJournal.

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