Eco Friendly Real Estate Blog

As part of Turning Houston Green's webinar series on how to green an existing home, here is the recorded version of our 4th program.  Michael Strong and I discuss Windows and Radiant Barrier.

It's not just about getting new windows or finding a radiant barrier.  Here we provide you with all of the questions you may have and/or need to ask your installers to get the biggest bang for your buck.  We also talk about the new Tax Credits to help you maximize what is available.

Our next webinar is on March 28th and we will be going over Indoor Air Quality.  We would love to have you join us!

I would also like to take a quick moment to Thank our Sponsors for helping to bring this to you:

Pella Windows

Bluegill Energy Management

Lutron Lighting and Electronics

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"How do people have the money to buy homes that need foundation repair and tons of work?" 

Answer:  They don't need to have the cash to do it.  Here's the story.

We have all seen those homes.  You walk in and it is in dis-repair needing paint, flooring - Maybe it's outdated and needs some new appliances.  Sometimes it is difficult to look past all of that and picture a beautiful home.  One that your family can live in and enjoy.

Others see a home with 'potential'.  The home is a good consideration, especially at that price!  Let's look a little further.  And then, Uh Oh.

What are all of these cracks?  There may be some around the windows, where the sheetrock comes together in the corners.  The floor, it feels like we are walking downhill!  We then go outside to see significant cracks in the exterior of the home.

Immediately people think foundation problems.  With everything else, why would I want to tackle that?  It can be very costly, maybe we should just keep looking.

Well, maybe it is foundation problems - Maybe it isn't.  Maybe it is just an older home that has settled naturally.  It is not uncommon here in the Southern Region of the United States.  Especially if the home has sat vacant for a long period of time.  Often times people will walk away.  They feel that they do not want to do inspections and find out if there really is a problem they just keep moving and find another house. 

But you know what?  SOMEONE will buy that house.  6 months later you may see it back on the market by an investor that does a complete makeover on the home and you know what else?  You would never believe it unless you had seen it with your own eyes 6 months earlier.  You hear whispers of 'Can you believe it? Do you remember how much that home SOLD for?  I can't believe it!'

It must have been an investor with a lot of money.  Or, let's just leave that one to an investor with a lot of money.  That's what was heard before, when it needed work.

Home Buyers are looking for 'deals', but here in Houston, the homes that are 'perfect' still sell quickly.  They also sell for a higher price. However, the one I mentioned above that sits on the market for a while?  It may go for a REALLY great value to the Home Buyer.

Using an FHA 203K loan a regular Home Buyer, one that intends on LIVING in the home and ENJOYING the home can still purchase at just 3.5% down.  You know what else?  They can have ALL of the questionable repairs done.  EVEN THE FOUNDATION REPAIR!

FHA 203K is the ONLY loan that I am aware of that allows for Foundation Repair to be rolled in to the loan.  Along with paint, moving walls, landscaping, new countertops...just about anything!

ATTENTION Buyers looking for a good deal:  Consider these Mortgage Products!  Renovation and FHA 203K Loans. 

• As little as 3.5% down
• Roll in the cost of repairs
• Work must be done by qualified and licensed professionals
• Usually within 60 days of closing
• Competitive Interest Rates

Someone will buy that really neat home that needs a lot of repair and probably at a great price.  It may as well be you! 

If you need the name and number to a Qualified Mortgage Professional that can do these loans and has experience with them, just send me an email.  I would be happy to send you their name and number.  If it is the home for YOU, just make it happen!

For those that have been around the Houston area for an extended amount of time, you are familiar with North Harris Montgomery College - The local College that not only offers courses for those starting out their College Education, BUT ALSO a Huge Variety of Continuing Education Courses for both Professionals AND Homeowners!

North Harris College this past year changed their name to Lone Star College Systems!

One of the Courses that is on the Spring 2009 Schedule for the location on WW Thorne by Intercontinental Airport is 'How To Make Your Home More Energy Efficient'!  If you follow my blog, you guessed it right.  It's being taught by Yours Truly - Stephanie Edwards-Musa - Houston's Realtor and Certified EcoBroker -

The course costs $35 and I guarantee that I will have that money back to you through a lower Utility Bill with what you learn in the class.

The Course runs 2 nights a week for 2 weeks in both March and April from 6p-8p in the evening.  The majority of the coursework will be what you can do yourself over a weekend with some Homework at the end of each day to make it a little more fun learning and so that you can get a good idea of how YOUR particular home works.

Every home is different, this course will teach you about YOURS in particular.

It's not just about Light Bulbs!  We will go in to how you need to have a strategic approach when sealing up your home and step by step what should be done to maximize the money you spend so that it is not wasted.

To register for the class you can call the College at 281-618-5400 and ask for the Continuing Education Dept.  I hope to see you there!  Below is a Calendar that has the Courses. 

March 17-26 on Tuesdays and Thursdays

April 20-29 on Mondays and Wednesdays

In Part 1 of my series I discuss how there are quite a few expired listings out there that are gorgeous!  Unfortunately, it appears that many features of the home went UnNoticed.  Forgotten. These features are those the right now, in our Financial climate and increased awareness of what it takes to OWN a home are often times the MOST important to Home Buyers.

Part 2 of the Series is Location.  It's not just about the Proximity to shopping, hike and bike trails, work and other things that are often mentioned.  Location goes WAY beyond that.

For the sake of this Series I am using The Woodlands as an example.  Home Buyers that are looking in The Woodlands are extremely savvy.  They know that Grogans Mill is the closest to I-45, however, it is also the Oldest Village.  As we work our way back, we have Cochran's Crossing, Indian Springs, Alden Bridge, Sterling Ridge....

The distance towards the front of the Community gets further and further.  That is no Secret.  Neither is the fact that as we work our way further and further to the back, the homes get newer and newer.

So, let's take for example Grogans Mill or Cochrans Crossing.  These locations sometimes tell potential Home Buyers what they may see in a home.

Actually it is not necessarily what they may see in a home, it is the FEAR of what they MIGHT see in a home:

• Wood Rot
• Foundation Problems
• Water Damage
• Overall luster of a home diminishing with age
• Single Pane Windows
• Higher Electric Bills
• Higher Maintenance Costs incurred throughout the time of owning the home

Now, again, none of this is a secret.  Obviously as a home gets older there is more work to do to the home.  Kind of like owning a car.  You pass the certain mileage and you have to replace the Timing Belt, Brakes..sometimes the Transmission and other things that just really cost a lot of money.

In today's Financial Climate, folks do not want to mess with all of that.  They need their money. 

From an Affordability Ranking,  how does YOUR home rate versus the ones around you? 

Often times an 'Updated' home means that Cosmetically it looks nice.  It does not have the Laminate Countertops, the paint is updated..in other words the appearance is TRENDY.

But when we look at it a little more closely, the Fascia Board on the home looks like it could be replaced.  The roof is only a few years from being replaced, the HVAC system looks like it might be on its last leg.

The cost of all of this can TRIPLE the cost of personalizing the Home INSIDE.

So, back to Location.  Where your home is located, how does your Home Rank in Affordability? 

• How much MAINTENANCE has been done on your home?
• Was your BUILDER ahead of the pack in products being used to make the home more AFFORDABLE?
• Are your UTILITY bills less than the AVERAGE home in your Community?

THAT is where Location often comes in to play with Today's Home Buyers.  This could also be termed 'Myth Busters'

What does YOUR home have that could be known as a 'Myth Buster'?  Let's think outside the Box.

Next in the series:  Fluff.  The 'fluff' in advertising.  "Updated Appliances!  Granite Countertops and Hardwood Floors!"

While that is all well and good, forget about some of it.  I'll tell you why.

As I was searching through some Expired Listings in The Woodlands today I was absolutely amazed at some of the Gorgeous homes that were on the list.  Beautiful!  Updated Older Homes that glistened, Newer homes that appeared to be clean as a whistle...

But what shocked me the most, was the fact that at first glance, they did not appear to be incredibly Over Priced.  Now, I did not run comps on any of the homes as it would not be accurate anyhow without stepping inside of them and seeing for myself but here is what caught my eye:

• Custom Hardwood Floors
• Central Vacuum Systems
• Granite or other updated Countertops
• Incredible Landscaping
• Some had amazing Pools
• A few had unique floorplans that are somewhat difficult to find

Since this post is not about how the homes were listed, I'll stop there.  I often wish I knew how much traffic these homes had while they were on the market, but I don't.

Now, when I filter through listings for potential clients I try to look at everything that is NOT mentioned in the descriptions.  For Example, the pictures (especially the ones that we would typically think are bad), Builder name and year built can tell you A LOT:

• Those pictures of the side of the home that show the Compressor for the HVAC system- Wow, That looks like it could be a 15 or 16 SEER!
• The appliances in the kitchen that are only noted as Stainless Steel or Upgraded appear to be a brand that is likely ENERGY STAR
• One home was built by Ryland in 2000:  Ryland was one of the few builders that was actively using Double Pane windows and sometimes Radiant Barrier BEFORE it was required by Code.
• Another was built in 2006 by David Weekley who happened to use an extremely Energy Efficient Building program before the other builders hopped on in late '07 and mid-'08

All of these features are ones that I consider to be the Sustainable, Greener or otherwise...more Affordable ones.

These are all of the features that often times go UN Noticed by potential, QUALIFIED Homebuyers.

Would this kind of stuff actually bring the attention to people in the market for a home?  They should!  And they DO to many of the Buyers that I personally work with.

While explaining it all right here and right now would take a long time, this is the start of a new series of Blog Posts.  ~The Affordability Ranking~

• How much maintenace will be required on this home?
• How much will it cost me to LIVE in this home?
• How Comfortable will it be to LIVE in this home?
• Why is this home different than all of the others besides the paint, countertops and flooring?
• Overall, how will it affect my pocket book at the end of every Month?

While any home that goes on the market would Benefit from using this, I am aiming it towards Expired Listings as we are entering the 'Selling Season' with a higher inventory than recent years with longer time on the market.

Let's take a look through this Series on how to Maximize Affordability in your home to give it a selling advantage. 

Next part of the Series?  Location.  It's not just about where the home is located, it's where the home is located in comparison to the Affordability of the home.  No, it's not about location to work, school, shopping...Location goes much deeper than that.  The simple location of a home can tell Home Buyers A LOT about the potential Condition of every home they see.  It's important to show how YOUR home may be different.  Stay Tuned.