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Coldwell Banker Rick Canup, Realtors 806-535-7653 vmedina@coldwellbanker.com How long have you worked in real estate? I have been in real estate for 12 years. Oscar Armendariz has been with me for 10 years. My first year in business, I was awarded the “Rookie of the Year.” Since then, I have consistently been in the International Coldwell Banker President’s Elite and President’s Circle which represents the top 5 percent of Coldwell Banker agents nationwide. What did you do before real estate? My journey to this point is very interesting. In the early ‘90s, I decided to go back to Texas Tech to get my undergraduate degree. I am very proud that I graduated from Texas Tech University in 1994! After graduation, I started working on a parttime basis at National Travel Systems. While there, I was approached by a committee with the Franklin Graham Festival asking me if I would consider being the office manager for an office that would handle the year-long work it takes to put on such a festival. It was during that time that I met Rick Canup, who was serving as the Executive Director of the Festival. The rest is history! I hired Oscar
pieces of the puzzle together. In any real estate transaction, there are many parties involved; including the lender, home inspector, insurance provider, appraiser, surveyor, etc. The most gratifying part of my job is seeing the happy hearts and smiling faces of the parties when everything comes together and the puzzle is complete!
two years after I was in the business. He got his license soon after and has been an integral part of the Medina Team since then. What is your specialty? We specialize in representing buyers and sellers of residential properties. Our main emphasis is listing homes. We take an aggressive approach to get homes sold. We specialize in helping those that need to sell before they buy. Although that is our main focus, we do love working with buyers, too. Another aspect of our business that has really grown is with the investor client. With a stable market and increasing home prices, the Lubbock real estate market can be a very profitable investment with the right guidance. What designations do you have and what does that mean for the people you work with? I realize that we proudly attach those abbreviations to our business cards and few know what they mean! I am proud to have my GRI (Graduate REALTOR Institute) and my ABR (Accredited Buyer Representative) designations, as well as several other certifications: Certified
What is one tip you have for someone looking to buy or sell a home? Work with an agent you can trust; don’t go at it alone! Remember that puzzle? Well, so many things can go wrong with those pieces of the puzzle. We have the experience to help you every step of the way no matter if you are buying or selling. We are always looking out for your best interest.
Velma Medina & Oscar Armendariz, Coldwell Banker Rick Canup, Realtors Photo by Misty Setzler
Home Marketing Specialist, NAHREP (National Association of Hispanic Real Estate Professionals) certification, Certified Negotiation Specialist, Certified Relocation Agent and Texas Affordable Housing Specialist. I continue to be very willing and eager to
learn so that I can in turn be the best, most educated Realtor for my client! What is the most challenging/gratifying aspect of what you do? The most challenging part of my job is putting all of the
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What do you see in the future for real estate sales? I see great things in Lubbock’s real estate future! We are blessed to live in a community that presents all the right factors for an expanding economy: growing universities – Texas Tech University, LCU, Wayland and South Plains; medical facilities that bring in the best and brightest; LEDA, who is actively bringing successful companies to the Lubbock area; a growing population; and great, competitive local mortgage lenders. This translates to good years ahead!
homes. lubbock online .com Search 1000s of MLS and classified listings in the Lubbock area Search for farms, ranches, and foreclosures throughout the US View open houses complete with a map every Friday, Saturday, and Sunday Read local news articles, featured, Realtor Revealed articles, floor plans, home improvement articles, and much more
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Homes.LubbockonLine.com’s Picks of tHe Week
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Million Dollar Homes This week’s featured picks from homes.lubbockonline.com are homes priced at $1 million and higher. All are located in the Lubbock area and vary in size and style. 1. Our first pick is located at 15806 Slide Road and is priced at $1,195,000. Featuring four bedrooms, four full baths, and two half baths, this 8,702 square foot home is just made for a family – there is space for everyone! Features include a large laundry, a catering kitchen, a wonderful basement/theatre room, and an office. The third floor room is a tremendous 33x21. There is also an 800’ “man cave” which opens to an infinity pool, as well as a 2,400’ workshop with overhead doors. This home is a must see – truly one of a kind! MLS # 9981086
areas, two dining areas, four fireplaces, a media room, a study, a built-in salt water aquarium, a koi pond, custom chiseled travertine floors, dark wood floors, an outdoor kitchen, and extra land with room for a garden and a pool. The fourth bedroom in this home is separated from the main house so it could be used as mother-in-law quarters or staff quarters. This beautiful home has a gated entry to the driveway. MLS# 9980884
3. At 8,893 square feet, this home at 2208 Wayne Avenue is absolutely amazing. It includes six bedrooms, eight full baths, and three half baths. The newlyremodeled kitchen has granite countertops and new appliances. The lush, heavily landscaped backyard will make you feel like you’re on vacation! Enjoy the newly-remodeled pool and hot tub, as well as the pool cabana 2. Located at 4703 111th Drive, with new kitchen appliances and this home is priced at $1,100,000. 1.5 baths. Additional features inThis 4,678 square foot Dan Wilson clude multiple living areas, marCustom Built Home is in The ble floors in main entry/dining Falls and features two living room, fish pond with bridge, an
electric gate to the backyard, and abundant storage throughout. This gem is priced at $1,649,000. MLS# 9983254 4. Looking for a West Texas retreat that’s the perfect spot to enjoy a sunset? Look no further than this home at 8818 County Road 6860. Priced at $1,398,989, this exquisite custom home features five bedrooms, six baths, and a four-car garage. Resting in an exclusive and private neighborhood, the home includes an 1,100 square foot office/in-law suite with complete kitchen. All aspects of this home were well thought out for living comfortably and allowing for great entertaining both inside and out. MLS# 9984307 5. This home at 4004 109th Street showcases exceptional beauty and elegance by Robert Wood. Priced at $1,395,000, the home has four bedrooms, five bathrooms, and 5,940 square feet. This custom home features attention to the highest standard and detail. Highlights include an
outstanding in-ground pool with three water features, an outdoor living space with fireplace, an open kitchen with top-of-the-line appliances, an upstairs living area, exercise room in the basement, a wine room with wine refrigerator, and a durable metal roof – all in a beautiful neighborhood! MLS# 9988716 6. Our final home is another amazing custom built home with quality and beauty throughout! Located at 4703 116th Street, this 5,377 square foot home includes: wood paneled office and wood floors, granite and Terrazzo floors, marble countertops, a master suite with his and her separate bathrooms, a mother-in-law suite, a beautiful pool and fountain, an outdoor kitchen, fireplace, and side courtyard. The price is $1,225,000. MLS# 9986512 For more information and additional pictures of these and other homes, please 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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Remodeling for aging in place today will help sell your home tomorrow (ARA) – If you’re on hold in the real estate market, now is the time to get your house in order – literally. Make the right changes today, and you’ll get a better price tomorrow. But before you invest in a homeimprovement project, consider your potential buyers with this fact in mind: More than 3.5 million baby boomers turn 55 each year, according to the 2010 U.S. Census. Since people aged 45 to 64 make up more than a quarter of today’s U.S. population, there’s a good chance you’ll be selling to someone in this age group. Will your home appeal to them? Your chances will be better if your home has “aging in place” design features that make it easier for older adults to live on their own longer. These modifications are the fastest-growing segment of the home remodeling industry, says the National Association of Home Builders. Because they range from simple fixes to full-scale renovations, making aging-in-place changes can suit any budget. Best of all, this type of project not only improves a home’s resale value for the future, it also increases its safety and comfort for all residents right now. Add A Bath Where None Exists Adding a bathroom on the main living level is a smart strategy to appeal to older adults, says national home safety expert Meri-K Appy. “Falls are the leading cause of home injury deaths, and older adults are at greatest risk for them,” she says. “Eliminating the need to use stairs and reducing the distance to a bathroom can be a great safety advantage.” A new bath is also a sound investment. This one improvement was shown to return more than 53 percent of its cost at resale in the 2010-2011 Remodeling Magazine Cost vs. Value Report. A macerating toilet system is a good way to lower the cost of adding a bath, says Otis Dardy, owner of Dardy Construction in Conyers, Ga. Dardy recently used macerating, or up flush, technology to install a full bathroom in a home that lacked below-floor plumbing drainage. With conventional plumbing fixtures, Dardy would have had to dig through the concrete, creating a costly and time-consuming mess.
Instead, he used Saniflo up flush technology, which allows you to add plumbing to any room in your home, even the basement, without having to break up the floor. Macerating plumbing systems pump waste and water from a toilet - as well as a sink, shower, wet bar, even a washing machine - upward through small diameter piping. Before Dardy knew about macerating plumbing systems, many of his customers who wanted a bathroom couldn’t afford the cost of creating new drainage. “I can save them a ton of money now,” he says. “It will also work if you want to convert a walk-in closet into a powder room.” Looking for more ways to update a bathroom with aging adults in mind? Put a telephone line in the bathroom. You may also want to install grab bars in and near tubs and showers while adding a hand-held showerhead. It not only makes bathing easier, but it also helps when it’s time to wash a pet or clean the tub. Use low, open shelving, and place nightlights in hallways and bathrooms to improve illumination and reduce falls.
Universal Improvements If you’re doing a kitchen remodel, consider using nonslip flooring. Some designers recommend cork tiles, which have the added advantage of being environmentally friendly. And to make your kitchen workspace more user-friendly, vary the height of your countertop areas to accommodate both standing and seated cooks, and don’t forget to install bright task lighting. Always choose appliances with controls that are easy to read and easy to use. Push/pull levers are a must for kitchen faucets, and installing thermostatic and anti-scald devices can reduce hot-water burn injuries. If you’re replacing windows, make sure the hardware is easy to operate. Installing a new entry door? Choose a low-maintenance alternative to wood. All stairways inside and out should have two handrails and bright overhead lighting. Less-expensive improvements include replacing doorknobs with handles that are easier to open and putting D-shaped pulls on drawers and cabinets. Replace any dim bulbs with bright overhead lighting.
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Fast, functional and fabulous bathroom fixes for less than $500 (ARA) – Longing to update your home, but short on time and money? You’re not alone. Remodeling experts report that whole-house remodels have declined in recent years – but don’t throw in the towel just yet. Instead of focusing on every room – focus on smaller areas where you spend a lot of time, like the bathroom. “Bathroom renovations are one of the most popular projects with homeowners, but not everyone has the same needs or budget,” says renowned home improvement expert Danny Lipford. “Luckily, cosmetic updates can be quick, inexpensive and easy enough for anyone to do.” With a few days and minimal budget, you can give your bathroom an instant facelift that will be fashionable and functional. 1. Start your bathroom update with a good cleaning. Removing any mildew, dust and soap scum is the first step to a brighter bath. 2. Color can affect our mood – so add a splash of paint. For only the cost of a brush, roller, tape and a gallon of paint (less than $40), both your bathroom walls and your mood will feel refreshed. 3. Did you know that within a year, the average person washes their hands 8,776 times? And that doesn’t account for the time spent brushing your teeth or washing your face. With these many interactions with water, be sure that your bathroom remodel includes a stylish new faucet. 4. Not sure if your current cabinets or vanity are fashionable enough for your new faucet? Before you replace it, consider adding new cabinet hardware for an instant update. There are a wide variety of choices – and manufacturers, such as Moen, even offer knobs and pulls that perfectly match your faucet in both design and finish. 5. The average person takes 365 showers per year. If your shower space is feeling a bit small, add 7½ inches in an instant with a curved shower rod. Both single and double curved shower rods are available in the most popular finishes to maximize your bathroom shower space with ultimate style. 6. Likely you share your bath with others. Bathroom accessories are a simple and inexpensive (less than $150 for a set) way to add organization and a design update to your bath. Collections offer a variety of solutions such as towel bars, towel rings and robe hooks to keep items tidy and off the floor, as well as pivoting paper holders to entice users to change the empty roll. Plus, they are available in a variety of finishes to perfectly coordinate with the rest of your new bath hardware. 7. The final step of your simple and sensational bath upgrade is the soft touches. Add plush and colorful towels to your new accessories, a decorative shower curtain to your new shower rod and a soft throw rug in front of the vanity. Soon, with minimal budget and effort, your bathroom will be more enjoyable – with an attractive look you’ll love and your guests will envy.
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Local Real Estate News – Lubbock Association of Realtors
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Five ways to be a savvy first-time seller BY Debora Perez Ruiz, President Lubbock Association of REALTORS®
Think back to when you were a first-time homebuyer. Were you excited but overwhelmed? It’s not unusual to feel that way as a first-time seller either, and it’s just as involved of a process – if not more so. But knowing what you can expect RUIZ can make the selling process go smoothly. Here are five ways you can be a smart first-
time seller. Is It Time to DIY? While it may sound appealing to try to sell your home on your own, keep in mind the challenges you could face if you’re not a real estate expert. Hiring a Lubbock REALTOR® can save you time, reduce hassles and will help you avoid the legal risks that come with selling property. Pricing your home is easier when you have a Lubbock REALTOR® who can provide you with information on comparable property prices and current market conditions. Asking too little for your home is a costly mistake, but pricing it too high can cause your property to languish and ultimately sell for less
than it might have had it been priced right. Timing is Everything Selling a home often involves buying one, too. As a first-time seller, understand that timing your sale and your new purchase can be tricky. Your Lubbock REALTOR® can walk you through your options and help you make a decision on timing that is in your best interest. He or she can also help you keep track of progress made on the sale of your home and the purchase of a new one. Does Your Purchase Depend on Your Sale? If you find a new home you want to buy, you might include a
contingency clause in your offer. This means your purchase of the new home depends on the sale of your current home. But using a contingency clause can also put you in a weaker position as a buyer, since another buyer without a contingency may be more attractive to a seller. Again, your Lubbock REALTOR® has the experience to guide you through difficult decisions such as this. Help is Where You Need It If your selling agent doesn’t serve the new city you’re moving to, he or she may be able to give you a referral for a REALTOR® who can help you locate your next property to purchase. That referral can save you time while
matching you up with another professional ready to help you achieve your goals. Selling is a New Experience Remember when you bought your first home and had a lot to learn? Selling also has a learning curve, since your to-dos during the home-selling process won’t be exactly the same as when you bought your home. Putting yourself in a buyer’s shoes can help you position your home as an attractive property to purchase and help you make that first-time sale. For more advice about buying and selling real estate, visit LubbockRealtors.com and TexasRealEstate.com.
Existing-home sales improve in July, prices continue to rise WASHINGTON – Sales of existing homes rose in July even with constraints of affordable inventory, and the national median price is showing five consecutive months of year-over-year increases, according to the National Association of Realtors®. Monthly sales rose in every region but the West, where inventory is very tight. Total existing-home sales, which are completed transactions that include singlefamily homes, town homes, condominiums and co-ops, grew 2.3 percent to a seasonally adjusted annual rate of 4.47 million in July from 4.37 million in June, and are 10.4 percent above the 4.05 million-unit pace in July 2011. Lawrence Yun, NAR chief economist, said housing affordability conditions are very good. “Mortgage interest rates have been at record lows this year while rents have been rising at faster rates. Combined, these factors are helping to unleash
a pent-up demand. However, the market is constrained by unnecessarily tight lending standards and shrinking inventory supplies, so housing could easily be much stronger without these abnormal frictions.” NAR is asking the government to expeditiously release the foreclosed properties it owns in inventory-con- YUN strained markets. Given population and demographic demand, Yun said existing-home sales could be in a normal range of 5 to 5.5 million if all conditions were optimal. “Sales may reach 5 million next year, but it will require more sensible lending standards and stronger job creation to push beyond that,” he said. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 3.55 percent in July
from 3.68 percent in June; the rate was 4.55 percent in July 2011; recordkeeping began in 1971. “Fewer sales in the lower price ranges are contributing to stronger increases in the median price, but all of the home price measures now are showing positive movement and that is building confidence in the market,” Yun said. “Furthermore, the higher median price naturally means more housing contribution to economic growth.” The national median existing-home price for all housing types was $187,300 in July, up 9.4 percent from a year ago. The last time there were five back-to-back monthly price increases from a year earlier was in January to May of 2006. The July gain was the strongest since January 2006 when the median price rose 10.2 percent
from a year earlier. Distressed homes – foreclosures and short sales sold at deep discounts – accounted for 24 percent of July sales, down from 25 percent in June and 29 percent in July 2011. Foreclosures sold for an average discount of 17 percent below market value in July, while short sales were discounted 15 per- VEISSI cent. NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami, said pricing is the primary factor in determining how long homes stay on the market. “Correctly priced homes, regardless of price range, are selling quickly these days,” he said. “Fully one-third of homes purchased in July were on the market for less than a month, and only 21 percent were on the market for six months or longer. Sellers should carefully consider a Realtor’s® advice about
marketing their homes.” Total housing inventory at the end July increased 1.3 percent to 2.40 million existing homes available for sale, which represents a 6.4-month supply at the current sales pace. Listed inventory is 23.8 percent below a year ago when there was a 9.3-month supply. Yun said there are distortions in housing inventory. “The total supply of housing inventory appears to be balanced in historic terms, but there are notable shortages in the lower price ranges which are limiting opportunities for first-time buyers. The low price ranges also are popular with investors, so entry-level buyers are at a disadvantage because many investors are making allcash offers.” First-time buyers accounted for 34 percent of purchasers in July, up from 32
percent in June; they were also 32 percent in July 2011. Under normal conditions, entry-level buyers account for four out of 10 purchases. Single-family home sales increased 2.1 percent to a seasonally adjusted annual rate of 3.98 million in July from 3.90 million in June, and are 9.9 percent above the 3.62 million-unit level in July 2011. The median existing single-family home price was $188,100 in July, up 9.6 percent from a year ago. Regionally, existing-home sales in the South rose 2.3 percent to an annual level of 1.77 million in July and are 8.6 percent above July 2011. The median price in the region was $162,600, up 6.6 percent from a year ago. Existing-home sales in the West were unchanged at an annual pace of 1.08 million in July but are 5.9 percent higher than a year ago. With pronounced inventory shortages, the median price in the West was $238,600, a jump of 24.5 percent from July 2011.
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Featured Floorplan – Custom Homes by Robert Wood
4107 124th – Brooke Heights This Featured Home was built by Custom Homes by Robert Wood. It is located at 4107 124th in the Brooke Heights addition, off of 124th and Quaker Avenue, just south of Orchard Park. This Featured Home is sponsored by the West Texas Home Builders Association in cooperation with the Lubbock AvalancheJournal. Robert started Custom Homes by Robert Wood in 2002 and began fulfilling his dreams of being a home builder. Robert’s first entry in the West Texas Home Builders Association Parade of Home® was in 2006, when he began wowing people with his designs and unique creativity. Over
the last five years, he has received awards for his homes from “Best Kitchen” to “Best Bathroom” to “Best Overall” and most importantly, “People’s Choice.” Robert states that he is most proud of the People’s Choice award because it matters so much to him what his clients think. He spends quality time with each of his clients and listens to every detail of their needs. When walking through a Custom Home by Robert Wood, it is obvious that each craftsman on his team takes pride in their work. This home in Brooke Heights displays his craftsmanship and features all of the great amenities
that each Robert Wood Home displays. This home is approximately 2,520 square feet and is priced at $294,400. It has three bedrooms, two baths and a twocar garage. It is a very open floor plan from the kitchen to the living area. The beautiful stained custom cabinetry in the kitchen is accented with beautiful granite countertops, stainless steel appliances, and an extra large island. The interior also features superb flooring, a stone fireplace surrounded by floor to ceiling cabinets, two eating areas (one casual and one formal), an isolated master with his and her sinks in the master bath, and great closet space with
a separate tub and shower. The exterior of the home is brick and stone with great curb appeal and an extra large patio to enjoy your West Texas evenings. This
home will be held open for you to view Saturday from 2-4 p.m. This home is being marketed by Scott Toman of RE/MAX Lubbock. Please
call (806)787-6571 for your private showing. You can also view more photos at www.ScottToman.com or www.RobertWoodHomes. com.
Housing starts edge down 1.1 percent, permits rise in July Nationwide housing production edged down 1.1 percent to a seasonally adjusted annual rate of 746,000 units in July, according to newly released figures from HUD and the U.S. Census Bureau. However, builders pulled more permits for planned new-home projects than they have in any month since August of 2008. “While many builders believe that the outlook for housing is considerably brighter than it has been in years, we are being very careful about keeping inventories tight and not building ahead of demand,” noted Barry Rutenberg, chairman of the National Association of Home Builders (NAHB) and a home builder from Gainesville, Fla. “At the same time, builders are drawing more permits for new construction so we can accommodate buyers and renters as they return to the marketplace.” “Our latest surveys confirm builders’ increased confidence about future home buyer demand, and that’s reflected in today’s permit numbers,” agreed NAHB Chief Economist David Crowe. “Increasingly, housing is re-emerging as a traditional and much-needed source of strength in local economies as builders are able to put more of their crews back to work. But two things that are slowing this process considerably are
the challenges that builders continue to face in accessing credit for viable new projects and the difficulty of obtaining accurate appraisals on new homes.” After four consecutive months of gains, single-family housing starts fell back 6.5 percent to a seasonally adjusted annual rate of 502,000 units in July. Meanwhile, multifamily starts posted a 12.4 percent gain to 244,000 units, their strongest pace since February. On a regional basis, combined single- and multifamily starts declined 1.3 percent in the Northeast, 3.5 percent in the South and 5.3 percent in the West, but rose 17 percent in the Midwest in July. Issuance of new building permits, which can be an indicator of future building activity, rose 6.8 percent to a seasonally adjusted annual rate of 812,000 units in July – the fastest pace in nearly four years. Singlefamily permits rose 4.5 percent to 513,000 units (their best pace since March of 2010) while multifamily permits rose 11.2 percent to 299,000 units. Permit issuance rose in three out of four regions in July, with the Northeast registering a 12.2 percent gain, the South a 5.8 percent gain and the West a 14.0 percent gain. The Midwest posted a 4.2 percent decline.
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