Home Design and Future Trends

January 14, 2011

Home design is fluid and ever changing. Many features we clamor for today may be passé tomorrow. Remember white kitchen cabinets? At one time, this was THE top wished for item and now… It is dated and unwanted. Corian countertops… All the rage in the 1990’s but now, nowhere near the top of choices.

What changes can we expect in the near future?

Based on responses to a recent survey by the National Association of Home Builders (NAHB), here are some ways in which builders can expect homes to change by as early as 2015:

Single-family homes will get smaller (74 percent of respondents said).

Homes will have more “green” features (68 percent).

Homes will have more technology features (29 percent).

Homes will have more universal access features (20 percent).

Homes will have more outdoor living features, such as kitchens and fireplaces (10 percent).

The average home size will be roughly 2,150 sf.

Living rooms will merge with other spaces in the home (52 percent), vanish to save on square footage (30 percent), or become a parlor/retreat/library or music room (13 percent).

If the living room doesn’t vanish, it will likely decrease in size (76 percent).

Also downsizing are the entry foyer (66 percent) and dining room (63 percent).

Features “very likely” to be included in a new home in 2015 include a kitchen-living room combo (“great room”), walk-in closet in master bedroom, laundry room and two-car garage.

“Unlikely” features include three or more bathrooms, mudroom, unheated porch, dining room, skylights, three-car garage, four or more bedrooms, media room and two master bedroom suites.

Homebuyers are “somewhat likely” to want universal design features such as stepless entries, three-foot-wide doorways and four-foot-wide hallways, stepless showers that have seating, non-slip floor surfaces and grab bars in bathrooms.

People seem likely to lavish more attention on the kitchen, ensuring that room will retain its status as the home’s social center. Survey respondents said they are “very likely” to want double sinks, recessed lighting, table space for eating and breakfast bars. They’re “somewhat likely” to want a central island, walk-in pantry, recycling center and desk/computer area.


Texas: A Proposed Sales Tax on Real Estate –

January 12, 2011

Texas, like many states, is currently facing an economic shortfall and our Legislators are scrambling to make up the difference. There are many proposed bills being brought for consideration to try to shore up the State’s coffers. While I realize the money has to come from somewhere, an informed consumer is wise consumer.

Political party affiliations aside, as a Realtor, I am a fierce proponent of private property rights. I will be running a series of discussions about the proposed bills to share available information so that you aware of items that could negatively impact your property rights and your pocket-book.

Taxes on real estate transactions: Combined State and Local sales tax rate would be applied when a property is sold or changes ownership and on long-term leases.

This is similar to buying a car now but could come into play whether a home is bought, sold, or transfers ownership due to divorce, probate, etc. The position of the Texas Association of Realtors (TAR) is that this will actually drive down the number of transactions and potentially  increase the future tax rates needed to cover earmarked expenditures, burdening both buyers and sellers and hurting the real estate market and the Texas Economy.

As a Buyer: This would certainly eat into the cash reserves for your down payment, repairs, furnishings, etc. And if your margins for borrowing are narrow, this could actually diminish the amount you can finance or size of home you can purchase.

As a Seller: This will eat into the equity or net proceeds you walk away with from the sale and could end up raising the costs of housing in your area.

As a Tenant/Landlord: One concern is what will be designated as a “long-term lease” and how much will this impact lease costs because someone has to bear the expense:  landlord, tenant or both. As an investor, this could certainly impact your ROI.

What are your thoughts on this proposed sales tax item?


Katy, TX – Cinco Ranch Does it Again! in Katy, TX – # 1 in sales in US

March 24, 2010

by christi borden

 According to a report by the PR Newswire – March 23, 2010 –  Newland Communities’ Cinco Ranch in Katy (sprawling suburb 20+ miles west of downtown Houston) was the nation’s top-selling master-planned community for new-home sales in 2009, according to a survey by RCLCO, an independent real estate advisory firm.

“With 887 net new-home sales in 2009, Cinco Ranch topped the RCLCO study, moving up from second place in 2008. Sales in the 7,600-acre community were up 14%, making it one of only four communities on the top 10 list to report a positive new-home sales gain from 2008 to 2009. Telfair, another Houston community by Newland Communities, was ranked fourth, up from sixth the year prior, with 450 new-home sales, a 9% sales increase over 2008 levels.”

 Interestingly, Newland held 5 spots in the top-selling 15 for last year: Cinco Ranch, Telfair, Eagle SpringsTeravista and FishHawk Ranch, No other developer has held such a record and continues to be the leader in not only sales but resident satisfaction.

The Cinco marketing folks have recently changed their campaign to, “Cinco Ranch, Your Comfort Zone”. At a time when the economy across the nation has people skittish about real estate, this is a brilliant approach. Buyers need to feel comfortable or safe when making a home purchase. This has never been truer than for the relocation buyer – who may only be here for a year or two before moving again and needs to place his/her family in the safest area in terms of resale value. Although there are many choices out there, one must really look to the strength of the community and the developer along with the actual builder when considering a purchase. Buyers understand this as do the Realtors that serve them. No amount of incentives or give-aways can change the fact that community is so very important in our area – not just in terms of resale values but also quality of life. If you research the sales data for area builders, you will note that many of them are being kept afloat because of the strength of the very communities in which they build.

 “Newland’s sales success at Cinco Ranch can be attributed to the product diversity our homebuilders offer, the proven established track records of these communities, and a highly focused marketing approach that speaks to our customer needs,” McLeod continued.
Houston’s strong showing in the RCLCO study underscores the fact that the city is a bright spot in the national economy.

 RCLCO has been releasing its top-selling MPC rankings since 1994.

About Newland Communities
Newland Communities is the largest private developer of planned communities in the United States. With a legacy that began in 1968, Newland specializes in comprehensive residential and urban mixed-use master planning with expertise in leading large-scale single and multifamily new-home communities. Headquartered in San Diego, Calif., Newland and its affiliated companies are currently developing and managing nearly 40 projects in 14 states. www.newlandcommunities.com

 About RCLCO

RCLCO is an independent real estate advisory firm, providing market and financial analysis and strategic planning services to a broad spectrum of clients including developers, corporations, financial institutions, institutional and private investors, public agencies, and nonprofit organizations around the globe.


Local Custom Builder Partner Retires…Two Buyers Benefit!!!

March 16, 2010

 

by christiborden

Masterpiece Custom Builders: Launching a new generation in home building and celebrating a much earned retirement.

Have we got a deal for you!

 Masterpiece Custom Builders is offering two Inventory Homes for immediate and BELOW MARKET VALUESale in Lakes of Bella Terra as part of their company’s special celebration!

 Gordon Boyle, original founder of Masterpiece Custom Builders has announced his impending retirement, entrusting the future success of his company to his long time friend and partner, Greg Stephens, a master builder in his own right. Greg will carry on the Masterpiece name and tradition of building award winning Custom Homes in Lakes of Bella Terra and other communities in the West Houston area, maintaining the integrity of workmanship while adding to their design capabilities and product line.

This retirement announcement has prompted Masterpiece to offer for special Sale selected Inventory Homes in selected communities at Below Market Value prices during their restructuring process!

 Included in this offer are two Custom Homes in the Lago Verde section in Lakes of Bella Terra:

These homes are 100% completed, ready to move-in, fully warranted and Masterpiece is ready to “make a deal” to liquidate inventory!

If you have not committed to a Custom Home in another community, I invite you to stop by and visit Lakes of Bella Terra.  With interest rates still very low, the economy on an upswing, and construction costs for future new homes on the rise,  there has never been a better time to take advantage this “once in a lifetime” opportunity!

 HOW DO I GET THE BEST POSSIBLE DEAL DURING THIS BUILDER’S CELEBRATION?

Contact me right away for more details regarding this special event at 832-368-5953 or email me, Christi Borden at christi@christiborden.com. We have Sales Experts on site and the builder, Greg Stephens is available for private showings.

 Custom Home Sales Leader – Christi Borden, Prudential Gary Greene, Realtors     www.ChristiBorden.com


Katy makes the Gadberry Group’s top 5 position!

January 8, 2010

 

Group, renowned supplier of Household Level Geo-Demographics names their nine most notable high-growth areas in the nation from 2009 and guess what, our wonderful Katy is number 5. Click here to view the entire report.

Katy, Texas

Katy was one of the Top 25 candidates in 2008 and occupies the number five position in this year’s list. The area is second for absolute household change, adding 15,699 households since 2000, and was third for percent household change, increasing from 6,585 households in 2000 to 22,284 households in 2008, or 238%.

Katy tied with Mansfield for highest percentage of children compared to total population at 42%. It is also the most ethnically diverse of this year’s places, with no ethnic group having less than 6% of total households and all major ethnic groups growing more than 150% since 2000.

Those of us who live, work and play in Katy, TX are not surprised. Our growth has remained strong and constant. We are consistently recognized as one of the hottest real estate markets in the Greater Houston Area (which is also one of the hottest in the US).

Why Katy, you ask? What has led to this amazing growth? We have wonderful master-planned communities, terrific access to thoroughfares for your commute to work, close proximity to the huge energy corridor (a major employer in our area), one of the strongest school systems in the State, constantly growing retail, entertainment, dining, shopping opportunities and now, we are currently developing into a major medical area know as the Med-Center West.

So many reasons to love living here… and it is great to be given this national recognition. If you would like to know more about our area, please visit my web site www.ChristiBorden.com  or give me a call 832-368-5953.


Is Now the Time to Invest in Real Estate?

January 8, 2010

I always liked being the center of attention, even as a kid in my grandfather’s restaurant where I frequently accompanied the piano player – probably to the chagrin of those trying to enjoy their food.

I still get the same attention now – without the singing, mind you –  because my business is the business of real estate. When anyone finds out I am a Realtor, the subject of conversation invariably hits on “How is our market?”. I love this, of course, because it is one of my favorite subjects.

In reading today’s Tycoon Report, I came across a blog addressing real estate in Florida and how the economic indicators point to NOW as a terrific time to get off the sidelines and hit the field.

One thing you will note in this article is that the author addresses investment to “hold and lease” – much different from Speculation – which is the type of investing that got us into so much trouble. If you purchase property or any investment for that matter in anticipation of earning money from the short term sale of that property – you are a speculator. While in some areas of the country that gambit has paid off, most have seen  their dreams of instant wealth vanish before their eyes. I am still amazed at people that lost money through investments during the dot.com debacle with the attitude of “easy come/easy go” but when the same thing happened in real estate, they were shocked and felt that they “were done wrong” by some entity and should be “bailed out”. Why did they expect protections for speculating in real estate that they did not expect for stocks? Gambling is gambling, no matter what you wish to call it. While I love a go at the Craps tables occasionally, I promise you that the Pit Boss is not going to give my money back just because I do not know what I am doing!

Let’s take a look at real estate as a true investment without the specter of Speculation hanging over our heads. Purchasing a property to hold and lease no longer takes into account the sole expectation that the property will appreciate (there are no guarantees in this world) but sets the expectation for a reasonable rental income (backed up by factual past rental data for that particular type of property and area) and then perhaps the hope of some accrual of appreciation at the end of the life of that investment (icing on the cake but not the batter itself).

Self-Directed IRA’s could be a good way to fund your investment but you need to know that this is heavily regulated and you would not want to make an improper move that would endanger your IRA protections. I would talk to a Self-Directed IRA specialist before moving in this direction. Also note the words “Self-Directed”, meaning you need to know what you are doing. Hire a professional Realtor to assist with finding the best properties to meet your investment goals. Word of caution: Do not be tempted to jump on the latest Foreclosure just because it looks like a “deal”. There are many factors that go into finding a viable leasehold investment and “deal” is not at the top of that list.

All in all, now is a terrific time to investigate real estate as a long-term investment to add to your diverse financial portfolio. Good Luck!


Houston Real Estate Market on the Upswing?

November 10, 2009

The table below shows the difference between the market experienced in February, June and October YTD 2009.   As you can see, as 2009 progresses, the single-family housing market is slowly marching toward a healthier market.

 

Houston Market Improvement Comparison 2009 of Single-Family Homes

Market Indicator

February ‘09

June ‘09

Oct. ‘09

% Change from

June ‘09

# units sold

-24%

-20%

-11%

+81%

Dollar volume sold

-33%

-24%

-14%

+71%

Average Sales Price

-12%

-6%

-4%

+50%

Median Sales Price

-8%

-2%

-1%

+50%

# of Pending Sales

-23%

-21%

-14%

+50%

Active Listings

-20%

-22%

-21%

-.46%

A summary of October YTD market statistics compared to last year:

 

  • Sales are down from October YTD 2008 by 11% with 45,391 single-family homes.
  • Dollar volume sold is down from October YTD 2008 by 14% with $9,202,482,156.
  • Average sales price is currently $202,738, down by 4%.
  • Median sales price is $153,000, down by 1% [half of the homes sold above and half below this midpoint range.
  • # of contracts written [pending] are 31,101 and that represents 14% fewer than found last year.
  • Active listings, a metric that is good if on a decline, are currently 27,758 or 21% less than last year.  This is also a metric that in Houston is the exact opposite heard frequently in the national news.

For more detailed information, go to Prudential Gary Greene Blog