lubbock aj real estate section 2012-03-31

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REAL ESTATE SATURDAY Produced By Advertising Editorial Staff lubbockonline.com homes.lubbockonline.com LUBBOCK AVALANCHE-JOURNAL Inside Real Estate: Seasonal Decor Updates - Page 3 Local Real Estate News - Page 5 On The Web: Follow us on Facebook & Twitter View Full MLS Listings & Open House List Tips for Spring Cleaning - Page 5 WTHBA Featured Floorplan - Page 7 Where did you grow up? I grew up in Wisconsin, but got to Texas as soon as I could. Why do you live in the Lubbock area? What do you like most about it? The people here are genu- inely friendly and it’s a great place to raise kids. The qual- ity of life here is something special. What do you enjoy doing when you’re not working? I love the time I spend with my boys. They are grown now, and I am very proud of them. I enjoy golf. Even when I’m not playing, time on the range is great therapy. I also like hunting, fishing and try to work out 3-4 times per week. How long have you worked in real estate? I have been in the Real Es- tate business in Lubbock for 17 years and can’t imagine doing anything else. What did you do before that? I was a District Service Manager for a large com- puter corporation. I was responsible for hardware and software support of all of the systems we had installed in Arizona, Colorado and New Mexico. What is your specialty? I specialize in residential real estate, including rural property. What designations do you have and what does that mean for the people you work with? CRS (Certified Residential Specialist), GRI (Graduate, Real estate Institute), ABR (Accredited Buyer Represen- tative, and CNHS (Certified New Home Specialist). What they mean to my clients is that they can have confidence in the extra knowledge and training that I have regard- ing the real estate business, and that they will be better served because of it. What is one tip you have for someone looking to buy or sell a home? Call me of course! Seri- ously, buying or selling a home is one of the biggest financial decisions you make in life. You need the services of a knowledgeable, experi- enced Realtor to guide you through the process. Even though so much information is available online, you need a Realtor to get the job done. What is the most challeng- ing/gratifying aspect of what you do? With regard to the most challenging, I would say it’s dealing with the changes that have occurred in the mortgage business in the last couple of years. The qualifica- tions for obtaining a mort- gage loan and the appraisal process are much different than they were three years ago. Another challenge is overcoming the perception of our market. While other parts of the country certainly are having problems, Lubbock is very blessed to have a stable economy and a stable real estate market. As far as the gratifying aspect goes, that’s an easy one – seeing the look on my clients’ faces when I hand them the keys to their new homes. What is the most unique property you’ve sold? I’ve sold several homes in Vintage Township. The archi- tectures of the homes, as well as the whole neighborhood concept, is very unique to Lubbock. I’m anxious to see how it continues to develop. What do you see in the fu- ture for real estate sales? In Lubbock I expect prices to continue to climb at a steady, controlled rate. We typically see appreciation in the 2-3 percent range. Howev- er if the market heats up, and indications are good that they will this year, appreciation could be better than that. Why should someone choose you as their real estate agent? As I mentioned earlier, buy- ing or selling a home is one of the biggest financial decisions you will make in your life. You want a professional you trust with the knowledge and experience necessary to make that experience a successful one. In the 17 years I have been in the business, I have sold literally hundreds of homes and rarely run into a situation I haven’t seen before. Rich Eberhardt RE/MAX LUbbock (806) 438-0071 [email protected] Realtor Revealed Rich Eberhardt, RE/MAX Lubbock Photo by Misty Setzler CRS, GRI, ABR, CNHS homes. lubbock online .com Search 1000s of MLS and classified listings in the Lubbock area View open houses complete with a map every Friday, Saturday, and Sunday Search for farms, ranches, and foreclosures throughout the US Read local news articles, featured, Realtor Revealed articles, floor plans, home improvement articles, and much more Jaime Engler 806-766-2194 Josh Horsey 806-766-8653 Kendall Krohn 806-766-8646 To Advertise Call... MARCH 31, 2012

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The Avalanche-Journal's Real Estate Section comes out every Saturday. It contains local Real Estate related news, editorial stories and features of local Realtors, builder floor plans, real estate classifieds, and much more.

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Page 1: Lubbock AJ Real Estate Section 2012-03-31

Real estateSATURDAY

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Produced ByAdvertising Editorial Staff

lubbockonline.com homes.lubbockonline.com LUBBOCK AVALANCHE-JOURNAL

Inside Real Estate: Seasonal Decor Updates - Page 3Local Real Estate News - Page 5 On The Web: Follow us on Facebook & Twitter

View Full MLS Listings & Open House ListTips for Spring Cleaning - Page 5WTHBA Featured Floorplan - Page 7

Where did you grow up? I grew up in Wisconsin,

but got to Texas as soon as I could.

Why do you live in the Lubbock area? What do you like most about it?

The people here are genu-inely friendly and it’s a great place to raise kids. The qual-ity of life here is something special.

What do you enjoy doing when you’re not working?

I love the time I spend with my boys. They are grown now, and I am very proud of them. I enjoy golf. Even when I’m not playing, time on the range is great therapy. I also like hunting, fishing and try to work out 3-4 times per week.

How long have you worked in real estate?

I have been in the Real Es-tate business in Lubbock for 17 years and can’t imagine doing anything else.

What did you do before that?

I was a District Service Manager for a large com-puter corporation. I was responsible for hardware and software support of all of the systems we had installed in

Arizona, Colorado and New Mexico.What is your specialty?

I specialize in residential real estate, including rural property.

What designations do you have and what does that mean for the people you work with?

CRS (Certified Residential Specialist), GRI (Graduate, Real estate Institute), ABR (Accredited Buyer Represen-tative, and CNHS (Certified New Home Specialist). What they mean to my clients is that they can have confidence in the extra knowledge and training that I have regard-ing the real estate business, and that they will be better served because of it.

What is one tip you have for someone looking to buy or sell a home?

Call me of course! Seri-ously, buying or selling a home is one of the biggest financial decisions you make in life. You need the services of a knowledgeable, experi-enced Realtor to guide you through the process. Even though so much information is available online, you need a Realtor to get the job done.

What is the most challeng-

ing/gratifying aspect of what you do?

With regard to the most challenging, I would say it’s dealing with the changes that have occurred in the mortgage business in the last couple of years. The qualifica-tions for obtaining a mort-

gage loan and the appraisal process are much different than they were three years ago. Another challenge is overcoming the perception of our market. While other parts of the country certainly are having problems, Lubbock is very blessed to have a stable

economy and a stable real estate market. As far as the gratifying aspect goes, that’s an easy one – seeing the look on my clients’ faces when I hand them the keys to their new homes.

What is the most unique property you’ve sold?

I’ve sold several homes in Vintage Township. The archi-tectures of the homes, as well as the whole neighborhood concept, is very unique to Lubbock. I’m anxious to see how it continues to develop. What do you see in the fu-ture for real estate sales?

In Lubbock I expect prices to continue to climb at a steady, controlled rate. We typically see appreciation in the 2-3 percent range. Howev-er if the market heats up, and indications are good that they will this year, appreciation could be better than that.

Why should someone choose you as their real estate agent?

As I mentioned earlier, buy-ing or selling a home is one of the biggest financial decisions you will make in your life. You want a professional you trust with the knowledge and experience necessary to make that experience a successful one. In the 17 years I have been in the business, I have sold literally hundreds of homes and rarely run into a situation I haven’t seen before.

Rich Eberhardt RE/MAX LUbbock(806) [email protected]

Realtor Revealed

Rich Eberhardt, RE/MAX LubbockPhoto by Misty Setzler

CRS, GRI, ABR, CNHS

homes.lubbockonline.com

Search 1000s of MLS and classified listings in the Lubbock area

View open houses complete with a map every Friday, Saturday, and Sunday

Search for farms,

ranches, and foreclosures throughout

the US

Read local news articles,

featured, Realtor Revealed articles, floor plans, home

improvement articles,

and much more

Jaime Engler 806-766-2194

Josh Horsey 806-766-8653

Kendall Krohn 806-766-8646

To Advertise Call...

MARCH 31, 2012

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ReAl eSTATe SATURDAY, MARCH 31, 2012 LUBBOCK AVALANCHE-JOURNAL 3homes.lubbockonline.com

(ARA) – Spring’s new growth and warm sunshine provide inspi-ration for renewal in our lives. It’s a time to pack away the sweat-ers and boots for lighter layers and brimmed hats. Homeowners should embrace this same mind-set – one where you pack away the heavy textures and colors of winter in favor of breezy fabrics and fun decor that inspire a fresh feeling in your house.

Break out of the winter gloom

by making some simple changes to your home with bright, fresh decor. Here are the top trends in interior decorating that capture the optimistic feeling of spring-time, without having to spend a lot of time or money.

1. Color your world happyTo uplift your mood and give

your home a new personality, color should be the first thing you address. Paint is an easy and

affordable way to dramatically change a living space. Spring’s hot color palette includes rich hues of blue and turquoise, vibrant pink and orange tones, and soft greens and neutrals. Visit your local Lowe’s for inspiration from the paint color studio that allows do-it-yourselfers to identify the “hot” paint colors of the season and even pick up samples of each hue to try at home.

Feeling adventurous? Dabble in some vibrant shades inspired by the flora and fauna in your region. Love the bright red of blooming tulips? How about the rich blue of the sky at the noon hour? Try picking one thing and paint it that bold color – a single wall, a door, or even a piece of furniture. Watch as the entire room suddenly comes to life.

2. Mix in light and fresh decorMaking small changes to your

home’s decor is a great way to refresh the interior, and you don’t have to spend a ton of money. Win-dow treatments are a great place to start – replace dense fabrics with airy options that beg to blow in the warm breeze.

Next, store away existing rugs and replace with ones that feature bright colors or botanical designs. Dark accent pillows can be re-placed with fluffy, colorful options that add life to dated couches and chairs. Seasonal decor changes are simple and can be swapped out year after year.

3. Bring the feeling of “green” indoors

The buds and blooms of spring are a big reason it’s such an inspi-rational season, and houseplants are a great tool for awakening that sense of nature and bringing the outdoors inside. Houseplants make any room look more luxuri-ous, and they are natural air cleaners, awakening the senses of spring’s fresh air. Good, low-maintenance indoor houseplants include the peace lily, spider plant

and snake plant.Interior decor can also reflect

the natural feeling that indoor plants provide. Coordinate pieces that feature nature’s elements, such as a leaf motif on a lamp shade or a beach scene on a piece of wall art. These elements, while subtle, will work together to provide a seamless update to any drab decor.

4. Cut the clutterOf course any home refresh

is not complete without some cleaning. Don’t let spring cleaning overwhelm you – start small and go through any clutter, sorting into piles to use, store, give away and throw away. A good dusting goes a long way too, so be sure to hit all the surfaces with a damp cloth. Shine up mirrors, which

will reflect that beautiful spring sunshine to brighten and enlarge the feeling of the room.

To stay on top of your organi-zation and home management, create a MyLowe’s profile at www.lowes.com/mylowes. While there, you can create a virtual version of your home for easy project plan-ning. You can add items you need or save ideas that inspire you to your profile for easy reference, making it simple to keep track of your to-do list. Millions of people are currently using the program to make home project manage-ment simple.

Changing your home to reflect the seasons is easy with a few basic steps and a little creativity. Remember to embrace the feeling of spring, and the inspiration will come naturally.

Easy seasonal changes refresh and revive your home

BRING THe FeeLING of “green” by adding natural elements to your room this spring. Houseplants, flowers and accessories made of natural materials can lighten your decor.

TO uPLIFT YOuR MOOD and give your home a new personality, color should be the first thing you address. Paint an accent wall or use pops of bright color with home accessories.

InterIor DesIgn trenDs

(ARA) – Gardening is good for you on many levels – from the mental health boost you get from doing something relaxing to the physical benefits of exercise, time outdoors and adding fresh vegetables to your diet. Bending over to weed, gripping gardening tools and the general physical effort of gardening, however, can make existing aches and pains worse, or even cause new ones.

This year, take steps to ensure your gardening experience is as comfortable and beneficial as possible. Here are some ideas for avoiding injury and ir-ritating existing conditions while gardening:

Warm Up

You wouldn’t go jogging without doing some light stretching and warm-up exercises, and you shouldn’t jump into gardening with-out warming up first. Before stepping into your garden, do some stretches to limber up, especially your arms, legs and back.

Banish Bending

Many Americans suffer from chronic back pain, and it makes sense to minimize activities that could create or worsen pain. Bending over to work in the garden can be hard on your back. Consider planting your gar-den in raised beds this year, or working with container gardens. elevated beds re-quire you to bend less when doing typical gardening chores. And container gar-dens can be placed on tables or deck railings to make it easy to reach plants.

protect hands and Wrists

Weeding, hoeing, raking, shoveling – the repetitive motions of gardening can lead to hand and wrist

pain, and worsen existing conditions such as arthritis. Taking steps to minimize irritation and discomfort while you work can help ensure your gardening tasks don’t create aches or worsen pain. Consider wearing an Arthritis Glove, like the gloves from IMAK commended by the Arthritis Foundation, to provide mild compression and warmth while you work. Because the gloves are made of cotton Lycra with an open fingertip design, they won’t make your hands hot or hinder movement. An added bonus – wearing any kind of glove can help you avoid another common gardening injury: blisters.

gUard skin

Sunburn and insect bites are a risk for gardeners. While most insect bites are just an irritation, sunburn can cause serious, long-term skin damage. To ward off

mosquitoes and other biting bugs, apply an insect repel-lent. Prevent sunburn by always wearing sunscreen – the kind that blocks both uVA and uVB rays – when-ever you’re outdoors. use a wide-brimmed, lightweight hat to shade your eyes and keep the sun off your head. Take frequent breaks and drink plenty of water.

move Wisely

Lifting can be source of back pain, and garden-ing often involves lifting. Remember to lift from a squatting position, with your back straight, so that your legs do the work, not your back. When kneeling, use gardening knee pads or a rolled up towel to cushion your joints from the hard ground. Minimize twisting motions that can injure your back and joints.

With a few precautions, you can ensure gardening is enjoyable and pain free.

Guidance for gardeners: avoiding injury, discomfort

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For homeowners, spring cleaning is one of the annu-al rites of spring. The return of warmer weather presents the perfect opportunity for homeowners to open the windows, let some fresh air in and tidy up after a few months spent cooped up inside while the weather outside was frightful.

But now that spring has arrived, the time to clean up around the house has come. Homeowners about to start on their annual spring cleaning should consider the following.

Get the RiGht tools

The right tools won’t nec-essarily be a hammer and nails, but cleaning products that can make spring clean-ing more efficient. Rubber gloves, cleaning products (preferably natural prod-ucts that are good for the environment) and enough garbage bags to discard a winter’s worth of clut-ter should all be on hand before you begin cleaning. If they’re not, you’ll likely need to make a trip to the store while cleaning, which can be time-consuming and prolong the process.

take some inventoRy

Many people have no problem buying new clothes, but they do find it hard to get rid of older items. Part of spring cleaning is tossing

old items you no longer use, and that includes cloth-ing. Clothing can take up a significant amount of space, so take some inventory on your wardrobe and decide which items you want to keep and which ones you can afford to discard or even donate.

addRess the WindoWs

If the last several months have been especially cold or snowy, then you might not have looked out the windows in quite some time. Unfortunately, those windows might have accu-mulated quite the amount of dirt and grime while you were huddled inside. When washing the windows, do so on a cloudy day, as the sun can actually cause streak-ing. In addition, be mind-ful of what you’re using to wipe down the windows post-cleaning. Microfiber rags typically give windows a great shine without any streaking.

The blinds and drapes will also need to be ad-dressed, as they have likely accumulated some dust over the last few months. Dust the valance and the frame, and wipe the blinds down with a damp cloth. You can also use your vacuum’s upholstery and brush at-tachments to further clean blinds and drapes. tidy Up the Bed

You likely wash your bed linens regardless of the sea-son. When spring cleaning, toss these linens into the washing machine and don’t forget to wash the mattress pads and bed skirting as well. While those items are in the wash, flip all the mat-tresses in your household.

don’t FoRGet the kitchen

The kitchen is not im-mune to clutter, and it’s especially easy for items to overstay their welcome in the refrigerator and the kitchen cabinets. Look for old takeout containers in the refrigerator that have managed to stick around, and throw these out as well as any items that have passed their expiration dates. While items in the kitchen cabinets might not have an expiration date, it helps to remove them from the pantry and then dust and wipe down the shelves. When doing so, discard any items that no longer seem appetizing.

Beat the RUGs

Area rugs have no doubt collected dirt and dust over the last several months. Though vacuuming these area rugs might be enough during the year, take advantage of the pleasant weather and take the rugs outside to beat them and rid them of dust and any other

particles the vacuum might have missed over the last few months.

empty and clean the Bookshelves

Bookshelves are one the biggest collectors of dust in many homes. Open the

windows in the home and then remove books from the shelves. Once the books have been removed, dust the shelves and wipe them down with a damp cloth. And don’t forget to dust the books and reorganize titles before returning them to

their newly cleaned shelves.Spring cleaning is some-

thing all homeowners must do to keep their homes healthy and clean. Spring cleaning is annual event at many households, and a few simple strategies can make it go much more smoothly.

Suggestions to get you started on spring cleaning

One of the first steps to selling your home is decid-ing how much to ask for it. Several factors influence pricing a home… some you can control, and some you can’t.

A Lubbock Realtor can help you decide on the best price based on the condition of the home and what comparable homes in the area have recently sold for– be prepared in case the amount isn’t what you had in mind. Here are a few things that determine a fair price.

neW and impRoved

Your home’s condition plays a large role in setting an asking price. Buyers will be thinking about how much work they would have to do before or after they move in.

When it comes to fixing or updating a house, cost is not necessarily equal to value. Even minor improvements can translate to more dol-lars for you in the long run. Upgrades or repairs mean a little work on your part but can positively affect your

asking price.

oUt oF yoUR contRol

The asking price also depends on circumstances you can’t control – the housing market’s inventory,

local employment numbers, interest rates, the amount your neighbor’s home sold for, and a host of others.

You also can’t do anything about your property’s location… and location is perhaps the biggest word in real estate. A

house’s location includes ac-cess to schools, businesses, and other conveniences that could be a strong selling point. A property with an attractive view or near a public greenspace can de-servedly command a higher sales price than a similar house on the block without those features.

don’t take it peRsonally

It’s been a few years since the housing market peaked and your home was prob-ably at its highest value. In other words, even if your home is in immaculate condition, it may no longer be worth what it was worth then.

And, unfortunately, the

amount you paid for the house doesn’t matter. What you need to get out of the sale doesn’t matter, either – your buyer doesn’t care that you just need another $10,000 to buy your dream home. Instead, make a case for why your house is worth it, and keep any negotia-tions strictly business.

And remember, no matter what price you set, your house is really only worth what someone’s willing to pay for it.

Get expeRt help

With such significant financial consequences at risk, it’s in your best inter-est to work with a Lubbock Realtor.

In many cases, your Real-tor will prepare a compara-tive market analysis (CMA), which compares your prop-erty to similar, recently sold homes. This is a time-tested way of getting an asking price in the right ballpark. Of course, each home is dif-ferent – and that’s where a Lubbock Realtor can really clarify and fine-tune the pricing process.

For more information about buying and selling real estate in Lubbock, I in-vite you to visit LubbockRe-altors.com and for informa-tion on the state as a whole, go to TexasRealEstate.com.

What are you asking? Setting the right asking price

Ruiz

LocaL ReaL estate News – Lubbock associatioN of ReaLtoRs

BY Debora Perez Ruiz, PresidentLubbock Association of RealtoRs®

One popular outdoor landscaping project involves redesigning the front yard or back-yard to include an array of different flowers and foliage. While many people gravitate to the flashy and colorful annuals on display at nurseries and home centers, you may want to consider adding some succulents to your home landscape.

Succulents get their name from their primary function, which is drawing up and storing water. Succulents are able to thrive in arid conditions, and there are more than 300 different types.

The advantages to planting succulents are many. Because they store water in their stems, roots and leaves, succulents can go several days between waterings. Succu-lents, like cacti, that have few if any leaves, are perhaps best at managing water be-cause they lose little to evaporation through the foliage.

Succulents are particularly good to have in areas prone to arid temperatures or where water restrictions are often in place. They can be environmentally friendly because of their ability to conserve water. Succulents treat water as a precious re-source, and their entire makeup is designed to minimize consumption of water.

Because they thrive in sunlight, succu-lents can be the ideal plants to put in ex-tremely sunny and hot locations. They will not wither and dry out due to extreme heat. For particularly dry areas of landscape or

where soil is subpar, consider the placement of different varieties of succulents to create a varied and eye-catching display.

There are many other advantages to planting succulents:

• With the many varieties, succulents of-fer contrasts in shape, texture and colors.

• Succulents will grow just as well in containers as they do in the ground.

• Succulents don’t tend to require prun-ing or cutting back of the plant. With this in mind, you can expect them to grow large. Therefore, space the plants adequately to allow for growth.

• Succulents are perennials. So once you plant them, they should last for years and years without the hassle and expense you can expect from planting annuals every year.

• Indoor greenhouses or sunrooms can be another good place for succulents. They prefer not to get chilled, which makes a controlled environment advantageous.

When considering a spot for your suc-culents, choose areas that get plenty of sun. Space the succulents widely apart – more so than you would with other plants – to al-low them to spread. Pebbles or gravel make good mulching material around succulents so that drainage will be adequate.

Visit a gardening center or home im-provement store to learn more about the myriad types of succulents that can add beauty to most gardens.

Succulents for low-maintenance

SUCCULEnTS, like jade, are ideal for arid conditions or for gardens where low-maintenance plants are desired.

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This Featured Home was built by Custom Homes by Robert Wood. It

is located at 4107 124th in the Brooke Heights addition, (off 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 Avalanche-Journal.

Robert started Custom Homes by Robert Wood in 2002 and began fulfill-ing his dreams of being a home builder. Robert’s first Parade Home was in 2006, when he began wowing people with his designs and unique creativity. Over the last five years, Robert 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 Featured Home in Brooke Heights displays fine 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 bed-rooms, two baths and a two-car garage. The home has an open floor plan from the kitchen to the living area. The beautiful stained custom cabinetry in the kitchen is accented with beautiful granite coun-tertops, 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 for-mal), and an isolated master with his and her sinks in the master bath, great closet space, and a separate tub and shower.

The exterior of the home is brick and stone with great curb appeal and an ex-tra large patio to enjoy your West Texas evenings.

This Featured Home will be held open for you to view Saturday, March 31, 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.RobertWood-Homes.com.

4107 124th – Brooke Heights

Featured Floorplan – Custom Homes by robert Wood

The economic downturn has hurt many families during the past few years, and sadly that means there are a larger number of foreclosed homes on the market than during a healthy economy. The lower price of these homes can make them look like a bargain, but home buyers need to carefully compare the actual cost – and advantages – of a newly-constructed home versus a foreclosed one before you buy.

During an educational seminar at the 2012 International Build-ers’ Show in Orlando, Jay McK-enzie, Vice President of Builder Digital Experience, LLC, offered a number of advantages of purchas-ing a brand new home, and hidden costs of foreclosed homes that buyers need to consider:

• Many foreclosures are sold “as is” with no disclosure require-ments. You could be surprised with major repair bills for issues such as foundation faults or other structural defects, mold, hidden water damage, unsafe wiring, ro-dent infestations and more. A fore-closed home that appears to have been renovated may not have been done so with the proper permits and inspections. A brand new home provides peace of mind for your family’s safety because it has passed inspections and conforms

to current building codes. A new home is also under warranty and any issues that arise during the warranty term will be fixed at no cost to the homeowner.

• New homes can be personal-ized with appliances, cabinets, countertops, carpets, floor cover-ings, paint color and other design elements to meet your family’s needs and tastes. They also come designed for modern lifestyles, with open space floor plans, walk-in closets, creative storage solutions and conveniently-located laundry facilities. With a foreclo-sure, you’ll have to spend time and money to make renovations.

• Newly built homes are energy-efficient, saving the buyer money and helping the environment. New windows, doors and insula-tion better control the home’s interior climate, and Energy

Star-rated appliances and modern components will help save on util-ity bills. With a foreclosure, if the appliances, water heater or HVAC are in working order, depending on their age, they may not be for long. And they certainly aren’t as energy-efficient as new ones.

• New homes are outfitted with the latest home automation and wiring components that provide state-of-the-art technology capa-bilities to accommodate modern home appliances and entertain-ment resources such as high-def-inition TVs, sound systems, hard-wired fire and security alarms, and more. Foreclosures probably don’t have updated wiring, and old wiring not only may not be able to handle modern resources. It may be unsafe and a fire hazard, and will cost a lot to update to current standards.

• Financing a new home is easier than financing a foreclosed home. Many builders offer incen-tives to reduce closing costs and can complete the closing quickly, unlike banks that just want to get foreclosed homes off their books and may have a backlog of homes to process, which can take months or years.

It is important to note that some home builders have expanded their businesses to include buying foreclosures, then renovating and re-selling them. In these cases, the builder normally has inspected the home for hidden damage, gotten the required permits, and completed the necessary repairs. They also often renovate, replace appliances and components, and perform many cosmetic upgrades to make the home an attractive and safe place for the home buyer.

Comparing new homes to foreclosures

Strong

BY Trey Strong, PresidentWest Texas Home Builders Association

Watch for Hidden Costs

Page 8: Lubbock AJ Real Estate Section 2012-03-31

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