March Update 2011

Subject: Real Estate Advisor - March 2011

Real Estate Advisor: March 2011 Architectural Styles at a Glance When beginning your home search, it's easy to become overwhelmed by the onslaught of both real estate terminology and architectural descriptions. For the uninitiated, phrases like "French Colonial" or "post-war bungalow" seem like another layer of jargon designed to confuse the average buyer. The overview below will help you familiarize yourself with the basic characteristics of some of the most common residential architectural styles in the U.S. Victorian Style Victorian architecture refers to several styles developed during the reign of Queen Victoria. The Victorian styles evolved largely from the Victorian idea that architecture (along with fashion, furnishings, among other things) should be beautiful rather than practical. The last true Victorians were constructed in the early 1900s, but contemporary builders often borrow Victorian ideas, designing eclectic "neo-Victorians." These homes combine modern materials with 19th century details, such as curved towers and spindled porches. Common Elements: Any and all exterior finishes, from brick to shingles to terra cotta Different exterior wall textures or materials on the same facade Asymetrical facade with extensive wood or brick patterning or detailing Extensive ornamental and decorative accents, usually in one of the following themes: delicate posts and spindles, raised classical columns, fancy half-timbering, or intricately patterned stone or brick Front entryway and significant part (or all) of front facade covered by a porch Bungalow The name "bungalow" originates from India, where it indicated a small, thatched home. In the United States what we call bungalows became popular during the 1880's in California, in part as a reaction to the elaborate nature of Victorian style. The style grew in popularity throughout the early 20th century. Common Elements: One or one-and-a-half stories Wood, brick or stone exterior finishes Rectangular building with low profile Simple facade with few decorative details Projecting, covered front porch with entryway set off to one side Interior Characteristics: Kitchen, bedrooms and bathrooms laid around central living room Craftsman A descendent of the bungalow style, the craftsman gained popularity at the turn of the 20th century. Often called the "California bungalow", these homes feature overhanging eaves, a low-slung gabled roof, and wide front porches supported by columns. Common Elements: Exterior or natural materials, like wood or stone Asymetrical facade Large porch with square pillars or columns holding up the corners Ornamental braces Stone chimney One story Relatively low-pitched (flat) roof Interior Characteristics: Built-in china cabinets, nooks, desks, etc. Exposed beams. The beams on the porch and inside the house are often exposed. Open floor plan. The Arts and Crafts Movement rejected the small, boxy rooms like those in Victorian houses. Ranch Style The ranch style home emerged in the 1930s and grew in popularity during the 1950s and 1960s, coinciding with the growing role of the automobile in American lifestyle. The style draws on elements of Spanish Colonial and Prairie and Craftsman homes, and is characterized by its one-story, pitched-roof construction, built-in garage, wood or brick exterior walls, sliding and picture windows, and sliding doors leading to patios. Common Elements: Exterior finished in stucco, wood, brick or some combination thereof Low-pitched roof with medium to wide overhanging eaves Side or rear glass doors which slide open to a porch or patio area Attached garage Cape Cod Many of the first homes built in the United States were Cape Cod-style homes constructed in the New England colonies. Many of the Cape Cod homes on the market today were built after World War II, when thousands of returning soldiers and their young families needed inexpensive housing. A 20th-century Cape Cod is square or rectangular with one or one-and-a-half stories and steeply pitched, gabled roofs. It may have dormers and shutters. The siding is usually clapboard or brick. Common Elements: Large, central chimney. The large, central chimney is located directly behind the front door, with the rooms clustered around it in a rectangular shape. Steep roof. Cape Cods have steep roofs to quickly shed rain and snow, and a shallow roof overhang. Windows and dormers. Two windows on each side of the door, and often a dormer on each side of the chimney to open up the attic. Captain's stairway. "The second floor, often kept for boarders or 'seafaring' men, was accessed by a narrow stair, or 'captain's stairway,' which has incredibly steep risers and shallow treads to minimize the use of the first-floor space," explains David Karam, an architect and builder from Brewster, Mass. Shingle siding. Weathered gray shingles are one of the most recognizable elements of a classic Cape Cod, but newer homes are built of brick, stucco and stone. Colonial As the nations of Europe settled the new world, they brought their unique architectural styles to the Americas, building their new homes in styles that reminded them of, well, home. "Colonial architecture" encompasses a number of individual styles including Georgian Colonial, Spanish Colonial, French Colonial, Dutch Colonial, and Federal - although Georgian is often the style referred to in the colloquial sense of "colonial". Georgian homes find their roots in both Italian Renaissance and the classical architecture of ancient Greece and Rome. These homes are often marked by a centrally located front door, evenly spaced double-hung windows and simple side-gabled roof. Traditional Colonial homes have paired chimneys, decorative doorways and plain, symmetrical fronts along with a generally rectangular and formal style. Common Elements: Brick or wood exterior Small front porch with white rectangular columns topped by a triangular gable or pediment leading up to the front door Rectangular building Symmetrical facade -- same number of windows on either side of the front door, etc. Two or more stories Relatively steep roof pitch Interior Characteristics: Living rooms on first floor and bedrooms on higher floors Spanish/Mediterranean Spanish Colonial homes date back to the original Spanish colonies and missions throughout the American Southwest, and are characterized by stucco walls, tile roofs and enclosed courtyards. Today the term Spanish Colonial Revival is used to describe homes built in the early 20th century that incorporate various elements of Mediterranean architecture. The stucco siding and small windows of the Spanish Colonial style make the homes very energy efficient. Common Elements: Stucco exterior finish (usually in earthy, cream, or pinkish tones) Flat, red-tiled roof Small, circular accent windows Wide, square pillars on front facade Arches over doors, large windows and porch Square or polygonal towers Interior Characteristics: Tile floors, arches, wrought iron light fixtures Tudor Built mostly in the first half of the 20th century, Tudor homes can be found in established communities in practically every region of the country. Tudors have half-timbering on bay windows and upper floors, and facades dominated by steep cross gables. While this highly recognizable style was often the choice of the wealthy for grand mansions, modest interpretations of the style are prevalent as well. Common Elements: Steeply pitched roof, sometimes with mock thatch Large rectangular chimney with an ornate, cylindrical pipe-or "chimney pot"-on top Patterned brick or stone exterior, or plaster with half-timbers Decorative exposed wood framing known as "half-timbered" construction Asymmetrical façade Entryways are often arched and outlined with decorative brick or stonework. Windows placed in groups of two, three or four. Tall or narrow windows, multi-paned, with panes sometimes arranged in a diamond pattern. Front door of vertical wood planks Modern Modern architecture refers to designs influenced and inspired by the modernism movement in art and literature. Modern architecture was a rebellion against classical architectural tradition, and as a broad movement that spanned many decades, it incorporated elements of art deco, arts and crafts, and ranch home design. Common Elements: Open living spaces - Modernist homes usually feature open floor plans that combine spaces for dining, relaxing and entertaining. Clean, geometric lines - modernist homes emphasize spare geometric forms. Technologically advanced materials - Rather than traditional wood and plaster, modernism advanced the use of new materials like iron, concrete, steel and glass. Back To Top RE/MAX Classic Bruce Weaver Address RE/MAX Classic 6801 Cahaba Valley Road, Suite 210 Birmingham AL 35242 Phone Number Direct: 205-965-6761 Business: 205-352-4229 Toll-Free: 877-829-7653 Office: 205-408-1306 Email Address pellcity@gmail.com Web Site www.bweaver.remax-alabama.com Mobile Search bweaver.m.remax-alabama.com

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October Update

The First Time Landlord: Determining Rent Price As a landlord, determining how much to charge for rent can be a difficult prospect. Setting a realistic market rent will be crucial to making the most out of your investment, regardless of whether you're renting out your former primary residence following a move, leasing an investment property or renting out a vacation home on a seasonal/weekly basis. If you set rent too low you may end up leaving money on the table. On the other hand, if you ask too much in rent you risk having the property stay vacant for long stretches or seeing high tenant turnover. Calculate your cost Before you begin determining how much you can or want to charge in rent, it's prudent to first gauge your total cost incurred from owning and renting the home. Your total cost will include mortgage payments, maintenance expenditures, any paid utilities and professional services you may require (such as property management, tax help or legal consultation). Avoid being too conservative when estimating potential maintenance and repair costs. The cost of owning and renting out may not directly dictate the rent you charge in all cases, but it will serve as a vital baseline value which you can refer to as you get closer to setting a rent price. Potential rental rates based on home value Professional real estate investors often determine rental prices by looking at the total value of the home. A common rule of thumb is that for homes up to about $100,000, you can charge approximately 1.1% of the home's value in rent ($1,100/month). With increasing home values, the percentage you can realistically charge will become smaller as the rental pool becomes more limited. For example, if your home is valued at $400,000, you may only be able to charge .75% of its value, or $3000/month. In general, calculating rent in this fashion is mostly a useful theoretical exercise that can provide some framework for you to work within. While in some cases you may be able to price rent purely based on the current value of your home, in most cases the realities of the local rental market will play a far greater role in determining how much rent you can realistically hope to charge. Understanding the renters in your market Before investigating actual rental rates in your market, it's important to actually understand the nature of the rental market and area renters. The needs of renters differ from those of potential buyers. For example, most renters will not be as interested as buyers in top of the line fixtures or brightly painted interior walls, because most lease agreements will prevent the tenant from changing such elements to meet their own taste. Things that will interest many renters include sturdy carpet that will resist wear and tear, appliances in good working order and plenty of storage space. In addition, rental markets are often defined on a highly local level - notice how rental classified are often divided by neighborhood or sub neighborhood. The needs and wants of renters in your local area will greatly influence how much rent they are willing to pay for your particular property. For example, a five-bedroom luxury house with attached three-car garage may have a tough time commanding high rent if located in a neighborhood whose rental demographic is predominantly students, single professionals or young couples. By the same token, a modestly sized studio or cottage will not rent for nearly as much in a suburban area popular with families and pet owners. Establishing market price To truly devise a competitive rent price, you will want to thoroughly research the prevailing rents of comparable homes. Start by scanning newspaper ads or online classifieds such as Craigslist to assess the price range for similar units in your area. Make sure to sample listings that are of comparable size and amenities, and which are near enough to your home to fall under the local conditions of your micro-market. Once you locate some comparable properties, visit them to better compare their amenities, location, condition and level of maintenance with your own home. Rental listings often vary a great deal from what is advertised to what you see in person when looking over the property, and often this discrepancy can help explain drastic differences in advertised rent. Visiting three or four homes in person will give you the best idea of how your home stacks up against the competition. Long term strategy Before you settle on a final rental price for your property, take some time to consider what your overall goals are with the rental unit. Are you focused on making a profit from the unit or recouping as much of the ownership cost as possible? If so, you may decide to charge rent on the high end of the market, at the risk of experiencing higher tenant turnover or longer periods of vacancy between occupants. If instead your goal is to ensure steady rental income from the unit, minimizing periods of vacancy, you will likely want have a pricing strategy more geared towards attracting long term tenants.

What In the World Is HAFA?

September Update

Tips for Buying New Construction Buying a brand new a shiny, un-lived in home has a certain amount of appeal. There is no previous homeowner who has affected the home or who has emotional ties to the home that will factor into the negotiation process. New homes are usually built with floor plans that reflect the latest, most popular design trends. In many ways, buying new construction is an entirely different animal than buying an existing home. While you still need to determine your budget, decide which home features are must-have and secure financing; the process of buying new construction involves a number of different steps. Representation Always have independent agent representation when considering new construction. The builder will have sales agents of their own, but they are paid to represent the builder's interests, not yours. Many will use pressure tactics to encourage you to sign the contract. A buyer's agent will act as your fiduciary and provide unbiased information on the pros and cons of any potential transaction. If you find developments that you are interested in learning more about, channel everything through your own independent representation. Protecting your own welfare is paramount. Learn About the Development(s) Buying a home in a planned development necessitates careful research of the development and neighborhood itself - more effort than you might otherwise put into learning about an existing neighborhood surrounding a resale. · Drive around the neighborhood to get the lay of the land. Are street grids easy to learn, or confusing. What community amenities are in the development, and how conveniently are they located in relation to available homes? · Are homes built right on top of each other, or does each lot have breathing space between houses? Are houses laid out such that similar models are not side-by-side, or does each street have an overly "cookie-cutter" feel to it? · Visit open houses for any home models that fit your budget, size requirements and general home needs. You may need to allot several days to this task to avoid rushing through each open house. Bring a camera to document details of each model - this way you don't have to rely on either your memory or marketing materials provided by the development. · Inquire with the city or county planner's office to learn about what is in store for the area around the development(s) you are interested in. Is that bucolic country neighborhood destined to besiegement from an array of shopping complexes and office parks? Is a seemingly too-distant neighborhood due to be linked by future mass-transit into core areas? · Research the bylaws and rules of the homeowners association, if one exits. Some subdivisions have HOA's with strict rules and regulations restricting things such as exterior paint colors, outdoor sheds, landscaping and vegetable gardens. Violating these guidelines can result in expensive penalties, while living by them may be too stifling for some. Research the Builder(s) Accurately and fairly reviewing a builder's history is a crucial step if you're considering the purchase of a newly built home. Don't rely on information provided by representatives of the builder or subdivision, as it will be their goal to represent the builder in the best possible light. Go to the courthouse to see if any liens or lawsuits have been filed against the builder, and verify how they were resolved. Check with the Better Business Bureau for any serious complaints against the builder registered by past homeowners or subcontractors. If at all possible, contact homeowners currently living in homes previously constructed by the same builder to see how they feel about the quality of craftsmanship after having actually lived in the home. Experienced real estate agents should also have a good understanding of which builders have a good reputation locally, and which do not. Be Cautious with Upgrades and Extras 5 Home Features That Excite Buyers 1. Stainless Steel Appliances: Many buyers like the sleek, powerful appearance of stainless steel kitchen appliances. Part of the attraction may be that a home kitchen with stainless steel appliances suggests the professionalism of a commercial kitchen. The modern look of the appliances themselves can be incorporated into almost any kitchen design (from modern interiors to more traditional styles). A stainless steel finish is not for everyone, however, so keep in mind that the appeal of these contemporary gadgets will not be universal. 2. Hardwood Floors: Hardwood floors are sought after by home buyers across all property types and architectural styles. Hardwood flooring has a timeless style and is more durable than other types of flooring. Synthetic wood floors are an option for owners who can't afford hardwood - just know that most potential buyers will know the difference right away. 3. Quality Fixtures: Upgrading the smallest details can often go a long ways to improving your home's appeal to buyers. Replacing outdated or lower-quality doorknobs, faucets, light switch/outlet covers, and drawer pulls can be a relatively inexpensive way to make over a bathroom or kitchen. You can also greatly enhance your home's appeal by updating lighting fixtures throughout your house, but keep in mind that higher-end lighting fixtures can get expensive fast. Whenever replacing fixtures, make sure the replacements coordinate with both any remaining fixtures and the interior aesthetic of your home. 4. Surround Sound: The popularity of larger flat panel and projection screen televisions in recent years has in turn generated greater interest in advanced home audio that compliments near cinema-quality picture. Building a surround sound system into your living/media room can entice potential buyers who may be excited by the idea of a new dimension of home entertainment but disinclined to go through the process of installation and setup. 5. Slab Kitchen Countertops: Granite countertops get a lot of attention as a must-have finish for any contemporarily designed kitchen, but in reality a number of other slab materials can be used to achieve a similar look at a lower cost. One of the major selling points of granite countertops is how easy they are to care for: the hard, nonporous surface is much easier to clean than a tile counter top with grout lines. Solid Synthetic surfaces (such as Corian), composite stone (such as Silestone), limestone, soapstone, marble, quartz and butcher-block slab counters all come with easy care and a more attractive appearance than laminate or tile countertops. Upgrades to the home itself are features (such as hardwood flooring or high end appliances) that you pay extra for to improve the home based on your tastes. Builders can make a lot of money on upgrades, because they get the parts and labor at favorable rates and generally tack on a large markup. Make sure you know the base feature list of the model you are purchasing by heart. When the builder offers upgrades, make sure you understand exactly what is being offered by asking questions and taking notes. Do your own research to compare the cost of the feature plus installation as offered by the builder with what it would cost to have the work done independently after move in. If the builder's version is far and away more expensive, bidding the work out to independent contractors after you move in is probably the smart move. If the costs are similar, however, it may be less stress to have the work completed by the builder in advance. Hire an Independent Home Inspector Many people who purchase new construction fall into the trap of thinking that because the home is newly built, the important step of getting a detailed home inspection is unnecessary. Simply put, new construction does not guarantee sound construction, and skipping a professional inspection can leave you open to future problems that might crop op as a result of building flaws or cut corners. Even homes built by the most scrupulous contractors can have defects that are not obvious to the untrained eye. Many builders will proved an all-inclusive home warranty as a part of the purchase agreement. This should not dissuade you from getting an impartial inspection: most warranties have a limited lifespan, and many original issues with home construction may not become apparent until many years later. Shop for Lenders Builders almost always have a preferred lender (sometimes even an in-house mortgage company), and will typically try to steer you to using this lender to secure the mortgage for your new home. Some builders will even offer deals on the purchase price of the home or free upgraded - contingent upon you using their lender. Using the builder's lender, especially without first shopping around for mortgages and other sources, is highly problematic. A mortgage provider who has a working relationship with a builder or development is out to make sure they can get you into a loan for the property. What they aren't necessarily doing is making sure you get the best deal. Always shop around for the best possible rate, lowest closing cost and fewest hassles.

Foreclosures and other Listings

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http://www.bweaver.info

See current listings, current foreclosures in Birmingham, current MLS listings, or create and save your own specific search for property.
Thank you,

Bruce Weaver
RE/MAX Classic
Direct: 205-965-6761
Fax: 866-822-3730
www.bweaver.info

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Good rainy day to yo

Good rainy day to you all. I'm testing this Hellotxt.com service to see if it does as stated. Once configured you can make one post to Hellotxt.com and all of your configured Social Networks will receive the same post. Handy, huh? Another service is Dial2do.com which will take your voice commands and post to Hellotxt. Let's see if this manual post through my Blackberry works.

HAPPY HOMEOWNERS!