In This Market, Is It Better To Rent Or Own?

For the sake of not investing in a home that might decrease in value, lots of families who are entering into today's real estate market have decided to rent rather than purchase a home. Sounds smart, but playing such a conservative card might not be best decision, from both the short-term and long-term perspecitives. Check out this little article from the New York Times:

5 Reasons Home Ownership Trumps Renting
The seemingly endless run of bad housing news is discouraging some potential home buyers from considering a purchase. But the truth is that the advantages of homeownership have very little to do with investment gains. The best things about owning a home have a lot more to do with personal comfort and satisfaction.

Here are five of them:

· Be your own landlord. The bank can only kick you out if you don’t pay; a landlord can be much less dependable – deciding to sell the property or choosing to live there themselves.
· Paying the principal is forced savings. Yes, it’s possible that home prices will fall further. It is also possible that your 401(k) will lose value. But over the long haul, both are likely to enjoy modest gains in value.
· Fixed-rate mortgages never rise – and eventually you pay them off. With mortgage rates at record lows, people who buy now are locking in real bargains.
· Good schools. Family-sized rentals are harder to come by in areas with excellent public schools.
· Spacious properties in pleasant neighborhoods. Sizable homes in attractive communities are almost always owned – not rented.

Source: The New York Times, Ron Lieber (08/27/2010)

Painting Your Home: No-Sweat Equity For Your Home If You Do It Right

Everybody knows that a fresh coat of paint is an inexpensive and easy way to boost the appearance of your house -- and the price that it may fetch on the market. Yet Sell-Your-Home Shows on TV are replete with homeowners that can't even get a showing because they dared to paint their walls in an interesting shade of chartreuse. Or, maybe they picked a more modest color that of itself is unobjectionable, yet it failed to compliment the size of the room, take advantage of available light, or did not pair well with the flooring. Anybody can paint, it is true, but homeowners could make do with a little "painting education." Knowing some painting basics will make your home painting project a winner and will boost your home's value. Here is a nifty little article that will give you the basics to make perfect your next painting project!

DIY Painting 101

By Stephanie Andre 

Looking to spruce up your home, but don’t know where to start?

From molding to choice of color, there’s a lot to consider before dipping your brush in the paint. Does a room really look smaller with a darker color on the walls? Should your ceilings be white? Do you want to add an accent wall?

Here are some tips from Lowe’s on how to getting started:

Getting Started • Size up your room. How you use color depends on where you use color. Each room has its own unique elements and function. First think about the structure of the room. Consider its shape and size. A lighter color can make a small room feel more spacious, while a darker color can help an immense room seem cozier.
• Take into account any architectural details, such as molding, trim, columns, and brackets. What's attractive and what's not? Varied intensities and hues can complement architecture, furnishings, and art. Remember, paint can accentuate a room's features or hide them.
• Your choice of color also depends largely on function. Will the main purpose of the room be eating, sleeping, working, entertaining, or something else entirely? A warm hue in the living room gives a more comfortable and inviting atmosphere for guests than a cooler color.

Selecting Interior Paint • Before choosing your paint, think about where your room fits into the scheme of things. Where is it situated in relation to other rooms? Is it a high- or low-traffic area? Flat paint, for instance, is best suited for ceilings, walls, surface imperfections, and anywhere else that a muted low-reflecting surface is desired. Because it takes more effort to remove stains from this type of paint, a flat finish is best suited for the low-traffic areas of your home.
• Use low-luster, satin, and eggshell paint on areas where a sheen is desired. These paints are easier to clean than flat paint and hold up better under repeated washings. They withstand the wear and tear of high-traffic areas-hallways, woodwork, kitchens, baths, children's rooms, and playrooms-more easily than other finishes.
• Semigloss and high-gloss paint and enamel are best suited for banisters, railings, shelves, kitchen cabinets, furniture, doorjambs, windowsills, and any other surface you wish to accentuate. But be careful-the higher the gloss, the more it emphasizes any surface imperfections.

Choosing a Palette • Having trouble deciding on your paint palette? Choose a design direction. If you've already chosen an interior décor or if you're working with a room that's already furnished, focus on a favorite fabric color, piece of art or furniture, or other object. If you still can't settle on a color you like, we offer free computerized paint matching and custom color mixing.
• Have color confidence-don't be afraid to paint bold and bright. If your room is unfurnished, a vibrant color can fill it until you can.
• Consider yourself above all. Paint color should reflect your mood and personality. What are your favorite colors? If you're having trouble selecting a color, try looking in your closet. The colors you enjoy wearing are the ones that make you feel good. You are the one who has to live with the color so live with the shades you love.

Making Your Purchase • Water versus oil. When selecting an interior finish, try choosing a water-based enamel instead of an oil-based gloss paint. Water-based gloss enamels have less odor than conventional oil-based paints. They are much easier to clean up after, and they wear better over time.
• Don't purchase low-quality paint. High-quality paint performs better for a longer period of time. It's less prone to yellow as it ages, goes on smoother, and won't leave brush marks. It is also easier to wash and dirt resistant.
• Purchase test quarts to review your color and finish selections at home. Paint a piece of scrap material such as cardboard, or even a portion of your wall, to study the effects of various light conditions.

If you are looking to sell your home in the Lake Conroe area, The Woodlands area, Spring, or Greater Houston, Lauri Kent and the Lake Conroe Realty Now Staff will provide you with a comprehensive assessment on what steps you can take, from interior painting to sprucing up curb appeal, to make sure you get the very best price for your home. A full evaluation of market comparables, our standard procedure for any home, is where we begin to help you determine what is needed to make sure you have the most successful selling experience possible!

6 Reasons it Pays to Shop Around Before Choosing a Mortgage

Becoming savvy about the Mortgage lending process is just as critical as becoming savvy about home value and housing trends when it comes to ensuring you are getting as much house possible for your dollar. However, understanding the mortgage process and mortgage rates is an area where most people feels completely uneducated. The following article is a great launch point for understanding the basics of the lending process - and how to make sure you are getting a good deal.

School Performance Can Increase Home Values, Buyer Interest

Across the country, school is back in session. This should bring to mind that the quality of the education of your local public school system has plenty to do with the attractiveness of your single family home to potential buyers. Those who are looking to buy your home are looking for a good deal, but not at the expense of their children's school environment. Consider the following while assessing your home's value:

Beware the Last Minute Credit Check

If you've been approved for a mortgage and you’ve found the home of your dreams, you might think it’s time to celebrate. We’re all for it, but beware of how you do so:  applying for more credit or a large appliance could put your whole deal in jeopardy.

In an effort to cut down on fraud and the sloppy underwriting that led to the subprime mortgage meltdown, this past June, mortgage giant Fannie Mae launched a “loan quality initiative” that requires lenders to get credit reports for each mortgage transaction at two different times, as well as additional verification. Your lender wants to see if you've obtained — or even shopped for — new credit. If you have, it could affect your rate or undo the whole deal. The lender might decide that the additional debt means you can’t afford the payments.

Waiting For Lower Home Prices Can Actually Cost You More

Boosting Your Home's Value For Sale - On The Cheap!

When selling your home, the object of the game is to increase the market value as much as possible while expending the least amount possible in upgrades and improvements. Lucky for all of us, the "less is more" concept is a good rule of thumb: Redesigning the master bath in Grecian marble is a bad idea, repainting and adding a few new fixtures is a good idea. But many homeowners don't know where to put their focus on these little improvements, so where should one put the smartest upgrades that will result in the biggest possible payoff? Here is an article we found that will give you a a clear view on this important subject.