Hold the Latte? by michele marano

Ever stood in a Starbucks line?

No longer is the rhetoric “non-fat caramel macchiato or mocha latte, hold the cream!”  For the last 2 days, I have been in 2 different Starbucks and have over-heard the same “should-of, would-of, could-of real estate woes, building chatter, and buying and selling theories of homes “now” and “then”.

What are today’s theories in Real Estate?  It depends on who you speak to.  If it’s a builder, then things may be slow but not overpriced.  If it’s a knowledgeable realtor, then they will tell you it’s a great time to purchase because of record low interest rates, considering you’re capable of getting loan approval.  It’s also not necessarily a bad time to sell, considering the fact that if you turn around and buy, the differential in savings on your purchase should offset a sale in today’s market, even if the value in your home has somewhat declined.

Opportunities are out there.  It’s just a matter of understanding value.  The time to buy is usually right, when at the same time, no-one else seems to think so.

THE FOLLOWING IS PROVIDED BY HAR COMMUNICATIONS, RESIDENTIAL SALES STATISTICS:

June sales of single-family homes throughout the Houston market rose 2.9 percent compared to June 2009.  Sales volume showed gains in all single-family home pricing segments except the $150,000 to $250,000 market. The largest increase took place among homes priced from $500,000 and above. Sales of all property types combined climbed 4.1 percent in June on a year-over-year basis.

Heavy sales activity in the high end of the housing market boosted the average price in June, but growing inventory, an increase in months inventory and a slowdown in listings under contract point to a more flattened market in the coming months.”

THE ART OF DEAL MAKING by michele marano

What is “The Art of Making a Deal” mean to you?  For those of you that don’t know what goes into making deals work, I have some news for you.  When it comes to Real Estate, negotiations are the name of the game.

First and foremost, there are a lot of emotions involved when making deals work and each party is going to look out for themselves.  Learning to keep emotions out of the equation or, at the very least at low levels, will allow deals to start out working smoothly.  There is nothing worse than getting into stinky situations where parties grovel over things that don’t matter.

Hopefully you have hired an agent who knows the ins and outs of deal-making and is equipped with the proper skill set in getting what is reasonable and fair for you.  Knowing the marketplace well is the most important factor in understanding negotiations, however, if one doesn’t have business savvy and experience in making deals, a transaction can easily go sour.

It is truly important to be conscious of time when getting a deal to work.  Nothing is more annoying than lack of responses or long lag times between negotiations.  In addition, working with diligence and integrity goes a long way, as well as making all parties involved to feel equally important.

For more information on Listing Your Home, contact Michele Marano with Beth Wolff Realtors at Michele@BethWolff.com or 713-622-9339.

www.MicheleMarano.com
www.LuxuryHighRisesHouston.com
www.LuxuryRealEstateHomesHouston.com

Defying Gravity

If we break it down into meaning, it looks like this:

defy |diˈfī|verb ( -fies, -fied) [ trans. ]

openly resist or refuse to obey : • (of a thing) make (an action or quality) almost impossible : his actions defy belief.

gravity |ˈgravitē|noun

extreme or alarming importance; seriousness :

Defying gravity is almost like two opposing forces:  Taking what seems impossible and making it probable,  taking a leap of faith and feeling secure, knowing the unfamiliar feels right when not knowing why at all.

I have been thinking of this in terms of real estate because the market has been somewhat peculiar.   Just 2 years ago, I sold an investment property for top dollar.  Today, although it may not be the best time to sell investment properties, it is a day to recognize the opportune time to buy.

Dwarfed interest rates, economic turbulence, real estate pricing adjustments and an inventory surplus are just a few reasons that one should consider buying now, rather than waiting for the rush.  Although it may take years for the general public to get back in and take ownership, those who find the solace in buying now, will thank themselves later.

Defying gravity is more than what it seems.  Individual perceptions are what we make our own reality.

When my inner awareness makes it impossible for me to second guess my intuition, I know I am where I should be.

michele@michelemarano.com

REAL ESTATE LOVE MATCH

REAL LOVE, REAL ESTATE: THINKING IN TERMS OF LOVE WHEN BUYING A HOME.

MICHELE COMPARES LOVE AND MATCHMAKING TO BUYING A HOME.  WHY WOULD YOU BUY A HOME YOU ARE NOT IN LOVE WITH?

Love Lesson 1:  Be Prepared to Make the Commitment.
Shopping for a home is like looking for a mate.  Until your ready to make the commitment, you’re probably not ready to settle down with a home.  Ask yourself first if you’re willing to take on the responsibility of owning up to being a good homeowner.

Love Lesson 2: Know What You’re Looking For.
Do you require the 5 star treatment? Have a good idea what attracts you to a property.  Look for characteristics that please you.  Draft a list of requirements that you desire so that when you’re ready to settle down, you are shopping the right criteria.

Love Lesson 3: Keep “Geographically Desirable” in Mind.
This element is extremely important because location determines how conveniently located your home is to your lifestyle.  Also, consider the value of the location vs. the price.  Look at the surroundings and ask yourself if there are possibilities of growth, improvements and changes that will either hurt or harm your value.

Love Lesson 4: High Maintenance May or May Not Work for You
First impressions are everything, however, look at the overall property and its good and bad points.  Consider the repairs and improvements that may be necessary and its associated costs before you move on.  Keep your list in mind.  You will need to know how to identify the qualities that please you, without being distracted by little things that don’t really matter.

Love Lesson 5: Your Property is a Reflection of You.
Your home should please you and make you happy.    In other words, it should say a lot about the person you are.  Everything you like in life is somewhere reflected in your home, whether it is style, color, or personal belongings.   Loving where you live is part of the romance of owning.

Love Lesson 6: Nurture it Extensively.
If you treat your home with care, chances are, you’ll have fewer problems in the future.  If something breaks, take care of it timely, rather than letting a maintenance issue become a bigger, costly repair.  Taking proper care and paying attention to maintenance will most likely bring you a favorable return in the long run.

Love Lesson 7: Investigate the Red Flags but Don’t Judge by a Bad First Impression.
Determine how much you are willing to put into it.  If it’s going to require a lot work, maybe it’s not for you.  Determine how extensive the repairs or improvements are before purchasing.  If it requires high dollar repairs or a complete overhaul, consider your checkbook and schedule.  It may work for you in the long term, but in the interim, your life may be a disaster.

Love Lesson 8: Considering Multiple Homes
If you’re buying a second (or third), decide if you really have the time, money and responsibility to put into it.   There is always the risk of owning more than one home and not being able to enjoy the purpose of having it.  A second home needs to be treated as good, if not better than the primary.

Love Lesson 9: Determine whether it is Long or Short Term
When considering a purchase, be realistic about how long you plan to hold the property. If you are planning to stay short term, you may not want to buy the highest priced home on the block.  Pay close attention to the location in which you are buying and be aware of the surroundings that could affect its value.  If you plan to hold the property for many years, consider the same factors; however, be sure it is a home you absolutely love, while making sure you can grow into it and not out of it.
Whether you are buying long or short term, identify the condition of the economy and the current real estate market.  This will have a lot to do with your negotiating power.

Love Lesson 10: Head Over Heals
The most rewarding part of owning is falling in love, day after day, when you walk  in to your home.  If you haven’t experienced that…..you’re probably not in love and may want to consider making some changes.

Life After Flipping

Those were the days when everyone got their hands involved with flipping.  Show after show was a flip show.  Everyone knew someone who flipped.

I flipped and loved it.  My best house was my last.  It sold for cash with over 100% profit about 6 months prior to the economic decline, mortgage debacle.  The market was ripe and my house sold within only a few months after it listed.  I took a break, coincidently, and the market fell apart.  Boy, was I fortunate.

Now that the market seems somewhat stable, or at least in Houston, I feel the urge to flip.  Knowing what makes a house attractive, knowing how and where to purchase, understanding your competition and knowing your audience are factors to consider up front.

Although many got burned in the past, flipping seems to be making a come-back.  In some ways, it’s a good thing to the economy that investors are stepping up to the plate and picking up properties that are owned by banks.

So, the next time you think about flipping, be sure to understand the risks that go hand in hand.   There may be a lot of deals out there, but knowing when to flip avoids making any deal a flop.

Aspen SnowMass Majestic for Lease

With the summer practically here and the heat already set in, it may be that time to put Aspen Snowmass, CO on the calendar.

Imagine dwelling in a lavish, 5750 sq. foot newly constructed home nestled peacefully amongst mountains and a riverfront setting.  Outside the front yard, the Rio Grande trail is steps away, while world-class fishing awaits you 20 ft outside your back door.   This modern 4-bedroom, 4 ½ bath architecture features bamboo ceilings, slate and bamboo flooring, 4 wood burning fireplaces, a wine room, a media den and a cozy hearth room.  Purposely designed facing south, each room provides magnificent lighting and breathtaking views.

For $35,000/mo. you may lease this gorgeous retreat.  To purchase please contact Michele@bethwolff.com or phone 713-899-8420.

Does Color Make a Difference When Selling?

Some say no.  I say yes.

Color is one of those things that either affects you or it doesn’t, triggers a mood or it doesn’t, cultivates a feeling or it doesn’t.  It does all of the above with me.  Color in a home is like drama to a good play.  Without well-thought-out color, it’s just another boring, run-o-the mill home.

I hate to say it home owners, but great color selections require a trained, keen eye or a natural one that knows how to identify the right shades, hues and tones.   There is nothing worse than walking into a home where the owners think their smashing cherry red dining room walls are the next best thing to grandma’s pie.  Hold the servings please, I can’t get past that red!

Certain shades are irritating, nauseating and too robust for the mind and body when shopping for a home.  To say the least, it is not comforting to be in a room that drives you out because the color doesn’t please.  Too bright, too dull, too brass, too yellow, too much of something in the mixture, gets you nothing on the wall.

A color should be subtle, gentle, serene and calming.  It should look so good you want to taste it.   It needs to be inviting, welcoming, and friendly.  Feeling good when you walk into a room is an instant notification of color.  If the color doesn’t move you, it’s not the right one.

Think of colors this way:   TO BE CONTINUED

First Impressions Mean Business

Are first impressions really important? You better believe it!

When it comes to shopping for real estate, a first impression is a lasting one. This is why it is so important to make sure your home looks attractive, starting with the exterior. Driving by a home can leave a first impression on a person. Does your home look appealing enough on the outside to initiate a view of the inside? It should. Your home should look it’s best amongst other homes on the block, otherwise it will automatically stand out and be compared to more attractive, well maintained properties.

Now that you’ve made a good impression on the outside of your home, it’s important to maintain their opinion as they tour the inside. When entering a home, the first impression is usually determined by the “smell” or “odor”. If you just cooked heavily odored food the night before, you may want to take extra precautions in deodorizing the home before it’s time for showings. Next step, when you enter the home, what is the first thing you see? If it is several rooms or an entry, make sure the overall appearance is clean, neat, uncluttered and welcoming. Going out of your way to make a room look spectacular will pay off. The pay off comes when you receive positive feedback and a contract to follow.

For more info on “Preparing a Home to Sell” go to:

Commercial and Residential Real Estate Services


or contact Michele Marano at 713-899-8420
Beth Wolff Realtors
713-622-9339

Where to Begin When Buying

When it comes to buying in Houston, the first item on the list to determine is which area of town you choose to live. Since there are so many areas to Houston, there are factors you need to consider.

Let’s first start by saying “location, location, location” takes on a meaning of its own. Location is probably the most important factor in any real estate transaction. Where a home is situated not only effects it’s value in price, but also it’s value in demand. Typically, the higher the desirability of a location, the greater the demand there will be to own it. Location is important, especially in Houston because of the zoning, or lack-there-of zoning laws. Paying top dollar for a property which eventually depreciates in value because of a commercial community slowly being developed around it, is something to watch for in transitional neighborhoods. Some individuals prefer to live in a transitional neighborhood, where there are many changes that take place over long periods of time, like 10 years or more, while others prefer established neighborhoods where there are no unexpected surprises.

Houston has so many different neighborhoods, all of which are unique to the eye of the buyer. Buyers need first determine the most important aspects of their life. For example, if a couple wants to be able to walk to restaurants and shops, then that will dictate certain parts of town. If an individual works downtown and wants to live minutes away from work, there are multiple areas that will offer a quick commute.

Determining what’s important in the buyers life, helps determine what area of Houston is most attractive. From there, it is easier to begin narrowing down the list of neighborhoods and fine tune what really matters in purchasing a home.

For more information about buying in Houston, please contact Michele Marano, Beth Wolff Realtors.
Michele@bethWolff.com or 713-622-9339.
www.MicheleMarano.com
www.LuxuryHighRisesHouston.com