Mischer News

According to HoustonFacts.org, now is the time to buy. Unlike the booming years where the sellers were the ones in control; today the buyers are calling the shots. All the components are in a buyer’s favor. Homes are competitively priced, interest rates are lower, and sellers are willing to negotiate.

"If my neighbor sold his house for $250,000 six months ago, why should I have to settle for $225,000 today?"

Attempting to regain this loss could cost more in the long run because it’s not so much a loss on the current home as it is a discount on the new, upgraded home. When the market comes back on an upswing, the new home’s value will increase, greater than the value of the original home. Purchasing a home has tax benefits and is usually one of the best financial investments. The national average of appreciation is between 5 to 6 percent, meaning every 13 years the value of a home doubles.

To learn more and to find a neighborhood that's right for you, visit Mischer Investments planned communities.

The largest generation of young people since the '60s is beginning to come of age. Often referred to as “Generation Y” or “Echo Boomers”, they were born between 1982 and 1995, and are nearly 80 million strong. Making up nearly a third of the U.S. population, they are spending $170 billion a year of their own and their parents' money, according to the Associated Press. Needless to say, Generation Y is already having a huge impact on many different segments of our economy, including the recently strained housing market. But, things are slated to improve.

According to Harvard University researchers, members of this new generation — children of the baby boomers — are ""entering their peak household formation years of 25 to 44 with more than 5 million more members than the baby boomers had in the 1970s,"" Harvard researchers said in a recent report. ""The echo boomers will help keep demand strong for the next 10 years and beyond."" While some of this demand is likely to flow into the rental market, the preferred tax treatment of mortgage loans should help keep the American infatuation with homeownership alive.

It is suggested by experts that over the next ten years, a combination of cash conservation and stiffer lending requirements will ward of another housing bubble, at least over the next few decades.

As a result of these spending habits and financial practices, the recent housing bubble will likely soon burst, allowing for a rebirth of the housing industry and in turn a more stable new home market with slow, but steady, appreciation over the next ten years. All good news!

Amidst the recent housing bubble, an unpredicted buyer has emerged – Women.

Women, in particular younger women, are finding their most opportune shot at home ownership. In recent years, more men than women lost their jobs by a ratio of almost three to one, in the financial and manufacturing sectors.

Ellen Iggulden, a 27-year-old Chicago-based auditor, says “most of my guy friends are sitting on the buying sidelines. But among my female college pals, (I) was actually one of the last to take the real estate plunge.” Hearing about their successes, she says, was empowering - “If they can do it, so can I!”

And, according to the National Association of Realtors, women now sign on the dotted line in nearly a quarter of all U.S. home deals - up from 14 percent in just 10 years ago. As a result, new home sales teams are incorporating sales tactics including expanded “paint-color psychology” and hosting spa nights, instead of the traditional open house, in an attempt to do everything they can to eliminate the “intimidation factors” associated with females perceived purchase process. Home-marketing consultant Sara Lamia addressed a gathering at the International Builders’ Show by summing up this theory, stating, “If Mama ain’t happy, you’re dead in the water!”

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A spare room in your home can easily be made into a space to entertain. With the growing popularity of media rooms and home gyms, making the call to transform an unused home office or formal dining is made even easier thanks to the floor plans used in the majority of today’s suburban homes.

Home theaters are no longer a luxury found only in celebrity cribs, and with so many new compact electronics on the market it takes very little work to turn a bedroom or unused space/room into a cozy cinematic viewing area.

For a seamless look, a contractor can remove sections of drywall and conceal all of the surround sound and component wires. You may even want to consider having the contractor place soundproofing inside the walls before replacing the drywall. This will allow people in other parts of the home to continue enjoying peace and quite and at the same time boost the audio experience of the home theater.

Not ready to tear down your walls for the love of George Lucas? Most home electronics stores offer products to help consolidate and camouflage wires, or you can opt to hide wires along the corners of the floor or under the carpet.

If a large scale conversion is not in your budget, there is certainly nothing wrong with a fresh coat of paint, a sectional, ottoman, and a flat screen TV.

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If you are considering a home improvement, retirement, sending a child off to college, or any other unexpected expenses, you may want to consider a home equity loan.

A home equity loan is basically borrowing against the equity you’ve already paid into your home. Generally a borrower can request a loan in any amount up to 80 percent of their equity. Just like your existing mortgage, you will incur a fixed or variable interest rate, and in some cases, fees and closing costs.

The Pros of a Home Equity Loan

Home equity loan interest is tax deductible up to $100,000 and often the money can be borrowed at a lower interest than conventional loans or credit cards. Also, if you have tremendous card debt AND the interest on a home equity loan is less than what the credit cards are charging AND you have exhausted all efforts to negotiate a lower rate with them, then you may want to consider using your home equity to pay it off.

The Cons of a Home Equity Loan

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In a buyer's market it can really pay to make necessary improvements before listing your home for sale. Even small projects can impress potential buyers, but be purposeful in your focus.

For around $100, you can install new cabinet knobs and drawer pulls in a wide range of styles for an instant update. Consider choosing classic styles that will appeal to a wide range of potential buyers.

Let the light shine by adding a variety of lighting such as under-cabinet fixtures, pendants over the island or recessed LED lights, or you can install a sleek new sink and faucet – either way you can make a big impact for about $1,000.

Although you may be attached to your avocado appliances, today’s buyers likely won’t appreciate the nostalgia. Buyers want new cook-tops, range and/or dishwashers all in matching stainless finishes. Although the $3,000 to $5,000 investment might seem steep, it will be worth the splurge when it comes to negotiating the sale.

Kitchens can make or break a sale, so carefully consider these home improvements that can work for almost any budget.

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It’s springtime in Texas and the smell of BBQ is in the air. This can mean only one thing: the backyard parties have begun! Follow these ten backyard party tips and your next alfresco get-together is sure to be a blast!

1. Clean up your party space. Make sure the grass is mowed, de-weed the flower beds and rake or blow away any debris. Put away any tools and toys you don’t plan on using with your guests.
2. Make sure not to overlook spaces inside the house where guests may be, including the entryway, kitchen and guest bathroom.
3. Decorate with greenery and flowers from your own yard to add interest to your tables and serving areas.
4. Set up plenty of seating for your guests before they arrive, creating conversation areas around your yard and allowing guests to spread out. If you're short on chairs, spread blankets on the grass for the kids; they will think it’s a picnic planned especially for them.
5. Choose music that is both fun and pleasant, crazy loud music could be too taste specific to entertain all your guests.
6. Think of your guests when choosing the menu. If kids are part of the plan, make sure the food is not too spicy or hard to eat while balancing a plate on their lap. Everyone loves a theme party, so visit cooking websites like MarthaStewart.com for fun recipes and party ideas.
7. Always be open to the idea of a potluck party. It lightens the host's load and can also be a fun way to try new things.
8. Invite your favorite neighbors and employ them to help with pre-party preparation. Make it fun by starting the music early, sampling some food and mixing cocktails.
9. Prepare as many foods in advance as possible. On the day of the party, you'll be glad you got a head start. Not only will the flavors be enhanced, but you will have more time to relax and enjoy your guests as they arrive.
10. Don’t forget to have easy-to-find trash disposal locations around the party. By having at least two large trash cans, you will spend less time in the garage and more time with your guests.

If you don’t already have a backyard party on the calendar, pen one in and start planning!

March is definitely “in like a lion” with warm winds signaling a refreshing change of seasons, but the harsh winter months may have been hard on our homes' exteriors.

Although it’s not quite time to redo the flower beds or make dramatic landscape changes, you can definitely bring a little life back to your home this weekend by freshening up the porch and entryway.

One way to stay on top of your home’s esthetic appeal, and protect your investment, is to look at it from the curb, as if you are a stranger considering it for purchase. Perform cosmetic repairs first, which will protect your monetary investment and then focus on adding a little something special to the home’s curb appeal.

Next, flank the front door with large, matching planters filled with easy to maintain greenery such as large foxtail ferns. Then you can plant a colorful seasonal flower around the base where it can easily be changed as necessary.

Finally, put a fresh coat of pain or wood polish/stain on the front door and pressure wash the brick or breezeway. A clean entry, free of spider webs and dead bugs is much more inviting for your summer guests!

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The most important job for homeowners this month is to prevent water damage and leaks from frozen pipes at home. Here are a few tips to keep things flowing smoothly:

• If you'll be gone for any period of time during freezing weather, even if it’s just overnight, employ a friend or neighbor to check on your house for  evidence of broken or leaking pipes and show them how to shut off the water.
• Keep temperatures inside your house at 55 degrees Fahrenheit or above, night and day, even when you're gone.
• Install small, battery-powered individual leak alarms, also called flood alarms, under the refrigerator, kitchen and bathroom drain pipes, dishwasher and laundry appliances and behind toilets.
• Check to make sure your sump pump is operating properly and if it has a battery backup, test it frequently.

Make sure to give special attention to pipes — indoors and out — that are exposed to the cold, including pipes in outside walls, garden hoses and sprinkler lines, swimming pool pipes and pipes in unheated attics, basements and garages.

With the proper proactive measures, you can prevent almost any unwanted water leak!

Holiday tipping can be a slippery slope even in a healthy economy. According to a survey by consumer ratings service Angie’s List, “thirty-one percent of those who opt out of holiday tipping say it is because they don’t know how much to offer.” 

The service providers most likely to get a holiday tip include housekeepers, teachers and hairdressers. According to a survey conducted by the Consumer Reports National Research Center Last year, almost 70 percent gave money or gifts to their cleaning people, 60 percent gave something to a teacher, and 50 percent gave an extra tip to their hairdressers while only 11 percent tipped their garbage collectors.

Remember, a glowing note to a supervisor may be appreciated even more than a gift since it could result in an annual pay raise, but, if you are planning to give a holiday tip, here are suggestions based on the service provider: 

• House cleaner: A day’s pay.
• Teacher: A small gift from you and your child or some classes prefer to chip in for one gift.
• Childcare providers: For a full-time nanny, one to four weeks’ pay plus a small gift from the children. For standard childcare providers, check with the facility manager first, but $25 to $75 for each caregiver is a good idea.
• Beautician: 50 percent more than the standard amount that you ordinarily would tip for a hair appointment.
• Barber: Cost of one haircut.
• Yard workers: $20 to $50.
• Pet groomer: Up to the cost of one session.
• Personal caregiver: One week to one month’s salary.
• Mail carrier: The U.S. Postal Service prohibits carriers from accepting cash or cash equivalents in any amount. They can accept snacks, beverages and gifts no more than $20 in value.

If finances are tight this holiday season, just keep in mind that a simple thank you note for the hard work provided by each of the service people you come into contact with can mean as much as a small gift. Showing any sort of appreciation is very much appreciated!

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