

Are lower real estate values keeping you in your current home - even though you were hoping to upgrade? Or, maybe you can't bear the thought of boxing up all your belongings to move? You're not alone. More homeowners are staying in their current homes, but remodeling with the idea of improving their quality of life and adding more "live-in value," according to recent research from Consumer Reports. No matter what your reason for staying put, rest assured; you don't have to move to get the home of your dreams ... just make a few home improvements.
Ooh la la kitchen
Today's kitchens are no longer a place to simply cook and eat. Your kitchen is the "real" living room - for living, working and entertaining - and the ideal room to improve for added enjoyment. One project to improve your home and "live-in value" is installing a multilevel kitchen island. Not only does this provide an extra work area, but also an informal place for entertaining guests. Central island cooktops and sinks are another option, keeping cooking and clean-up areas within easy reach. Tying the overall look of the kitchen together will also help to make a style statement you can live with for years to come. Upgrading to stainless steel appliances is a common choice, especially with the latest technologies - such as built-in flat screen televisions or computers on refrigerators - all with a beautiful high-end finish.
Fashionable faucets
Just think of how much time you spend at the sink, from rinsing fruits and vegetables to filling pots and washing hands and dishes. So why not update this kitchen focal point with a new functional and fashionable faucet? High-arc models with pullout spouts are the most ideal since they allow ample room to fill or clean large pots and pans. Models with multifunction sprays are helpful when washing delicate fruits. Once you've found a model with these useful features, don't forget about style. Designer finishes, such as stainless steel will give your kitchen a professional look. And, for a designer look that maintains the beauty and brilliance of the faucet's finish in between cleanings, try Moen's Renzo pullout kitchen faucet with Spot Resist Stainless finish. This unique finish does just what it says - resists fingerprints and water spots. Moen's Renzo kitchen faucet is available at Lowe's.
Storage space explosion
No matter the square footage of your home, accumulating belongings over the years contributes to a lack of storage space. Try to solve this issue by first purging items that you haven't used within the past six months. Next, you can organize your necessities with a variety of storage systems - from drawer organizers to storage bins. And, if it seems like a task that you can't handle on your own, hire a company that specializes in organization, such as Closet World, to create a custom-designed solution.
Spa-tacular and sensible baths
Today's baths have evolved from a task-oriented room to become a private spa. Luckily it's simple to turn your bath into a private sanctuary. To start, update your current showerhead with a more luxurious and functional design. If you prefer a powerful, full-body spray, perhaps you'd like a rainshower showerhead. Or, if you like options, try a multi-function version that allows you to switch from a relaxing wide spray to an invigorating concentrated spray - or somewhere in the middle. You can find a variety of designs and finishes at your local home improvement store, such as Lowe's. And, as in the kitchen, the faucet is a focal point in the small space. Update your current faucet with a new designer style and finish ... and with water-saving benefits. Faucets account for approximately 15 percent of indoor household water use - more than 1 trillion gallons across the U.S. each year - so once you've found the perfect look, be sure that you choose one that is certified to meet WaterSense criteria. With these few home improvements you can start recouping your "live-in value" and make your current residence a home sweet home.
Are you considering buying or selling a home this spring? Contact the Grove Team to work with you through all of your real estate needs. Call us at the office, (817) 337-0000
Yingda Bi and Jason Saving, the authors of the report, said this alone suggests the residential real estate market "may have finally begun recovery," but other housing indicators also improved in January. According to the Fed's report, all major metros witnessed declines in housing inventory.
To sell all housing inventory in the Lone Star State would take 7.7 months as of January, down from eight months in December, the Fed said. The serious delinquency rate, anything more than 90 days delinquent, dropped on a seasonally adjusted basis to 2.9% in the fourth quarter of 2010 from 3.4% the previous quarter. The Foreclosure Listing Service reported that year-to-date postings for foreclosure auctions in the Dallas/Fort Worth metroplex decreased for the first time in 11 years. Postings for the January to April auctions fell 4% compared to the same period of 2010.
"Over the past year, posting activity for this four-month period declined to 21,387 for the first four foreclosure auctions of this year, which includes January through the upcoming auctions in April," said George Roddy, president of FLS. "Last year, foreclosure notices for the first four auctions of the year reached a new record high with 22,305 postings."
The last time there was a decline in year-to-date foreclosure auction postings during this period was 2000, according to Roddy. However, underwater properties made up a larger portion of postings than in past months, up to 27% in April 2011 from 21% in April 2010.
Bi and Saving at the Fed remain cautious on the whole, as home prices will also be a large factor in market recovery.
"New data from the Federal Housing Finance Agency housing price index show slight declines in fourth-quarter housing prices from both the third quarter and year-over-year," their report said.
A special thank you to Sandy Shetty, Sr. Loan Officer with Benchmark Mortgage for her assistance with this new information on our housing market. For more information on pre-qualifying for a home loan, contact Sandy direct (817) 966-9446.
For all needs real estate, contact us on the Grove Team, (817) 337-0000. Find us online, www.groveteam.com, follow us on Facebook and Twitter!
As a buyer, choosing to be represented by a broker and their agent you are ensuring your interests are protected. The Grove Team has a dynamic team of buyer's agents - specially trained to assist in your home purchase.