Terry McDowell – Real Estate Blog

Remodeling Cost versus Value

If you have a project to do some remodeling, perhaps to sell your property you will be interested in this information. Or perhaps you intend to purchase a home that has to be remodeled.

Section remodeled added Job Cost (midrange) Resale Value

Bathroom Remodel $15,000 $10,000

Deck Addition – wood 8,500 7,500

Backup Power Generator 11,356 14,667

Window replacement (vinyl) 9,500 7,100

If you have a project and would like an estimate on the cost versus value, let me know, and I will be glad to send you the figures.

New stuff to think about in the New Year

TODD. This is a Transfer On Death Deed. This Deed was created to help people of modest means (that’s most of us) pass on their real estate with a clear title and without using a lawyer. However, a lawyer can help you avoid potential pitfalls. As a Real Estate Broker, I see too many properties that are stuck in the legal system, because it is unclear as to who owns the property. If you want more information about this TODD, let me know and I will be glad to provide more information.

WELL? Water Well that is.

According to the Texas Water Development Board there are between 275,000 and 425,000 abandon water wells in the state of Texas alone. I have an abandoned one in South Carolina, but I make sure the upkeep is done and there is no chance of anyone falling in. This can be a big liability to you should this happen. If you own acreage, check the records or with older neighbors to make sure there are no wells on the property. If you do have a well that is still producing water, it can be used as your source of water, especially for cattle etc. Look into it.

The Good, the bad and the ugly

Another BAD and UGLY company to deal with in obtaining your commission is: MADISON PARK OF WESTCHASE,….. Pagewoo Place Apartments. One of my Realtors procured a tenant for them and THEY NEVER PAID. This company is in Houston, TX. Shame on you.!!

Houston, TX Willow Hollow HOA

Do you know who is on the Board of Directors? I know one person. What part do they play in the management of the community? If you know, let me know.

First Time homebuyers

If you see a good deal and the home is a foreclosure, owned by Fanny Mae, don’t think about buying it and renting it out. No, no, no, Fanny Mae says you must move in within 60 days of the purchase and occupy the home for one year.

First Time Homebuyers

sign1 First Time Homebuyers purchase 33% of all homes sold. The median age for this group is 31, and their median income is $67,800. Repeat buyers purchase 67% of of homes sold, they are 50 years of age and earn $107,100. Where do you fit in?

First Time Homebuyers

Fees are negotiable …. Again, fees are negotiable. Ask your Realtor to place these requests in the contract. You may ask for $ from the seller toward your closing costs.

More Money talk

Time is running out!!! EB-5 is the immigrant investor visa program. It was extended for the foreign-investor until September 30, 2016. This program allows eligible non-US residents to apply for a green card if they invest in a commercial enterprise in the U.S. Hummmm, I have 3 car wash facilities for sale.

First-time homebuyer

Are you a first time home buyer ? A “first-time homebuyer” is defined as anyone who has not owned a home during the prior two (2) years.

Have you hear the expression “running with the land”? It refers to rights that are passed with the title of property to subsequent owners and cannot be separated from the land or transferred without it.