NY Architect and REALTOR®: April 2010

Monday, April 26, 2010

Should you Remodel or Move Up?

Should you Remodel or Move Up??
Increasingly, it looks like you should remodel...

According to the Wall Street Journal and the Joint Center for Housing Studies at Harvard University, when pondering this question in 2010, even the majority of homeowners who are not "underwater" on their mortgages are feeling more apt to renovate their existing digs than sell and move to a different home.

This "Do More with Less" theme could well be the theme of 2010 and a nascent economic recovery. In that vein, we wanted to share this video showing how a little space combined with a lot of imagination can result in more than you expect.

The Wall Street Journal article also mentioned a "psychology return on investment" which [1016] Architecture covered in one of our previous posts on Getting the Most Out of Home Improvements as "emotional return." A level-headed analysis of costs vs. value should definitely include this non-monetary return on improvements intended to be enjoyed over many years.

Read the full Wall Street Journal Article here.

Andrew Wilson: Shop for real estate with confidence.

Work with a buyer's agent who is also a licensed architect.

Looking for Queens or Long Island Real Estate? Contact Andrew Today: andrew.wilson@realestate.com To search Long Island MLS like an agent: Click here(powered by ListingBook)

Monday, April 12, 2010

How to Get the Most Return on Home Improvements

As an architects, I meet more and more homeowners who are interested in renovating or adding on to an existing home rather than seeking to sell and move or to build new.

Their questions are plenty, but usually revolve around one central issue: How to I get the most out of my home improvement dollar?

Here are some general tips to consider when deciding whether or not to undertake your project:

Assess how long you want to remain in the home. Obviously, if you are thinking of staying put to enjoy the fruits of your improvements for ten years, you will be able to make different decisions than someone interested in moving on from a fixer-upper after only one or two year. Think of this time as "emotional" or "utilization return" on your investment. This factor will also affect the life-cycle return of energy efficient improvements such as new windows or insulation.
Refer to the latest numbers. Check out this Cost vs. Value 2009-2010 resource from Renovation Magazine to see how much of your money you can reasonable expect to recoup when you sell the house. There is data for various regions and metro areas across the country, so you should be able to get a good idea of a general range for typical improvements such as adding an attic bedroom, or renovating a master bathroom. The difference between cost and value is the true price tag of your improvement.
Consider doing some of the work yourself. Labor can make up anywhere from 15% - 30% (or more) of the cost of a renovation job, so tackling some of the simpler items can make an impact on the overall budget. Beware, however, of taking on more than you can handle safely and economically. Frustrations, complications, and delays are always just below the surface on renovation projects.
Remain sober about the economic benefit of certain changes. If you check the Cost vs. Value chart from number two above, you realize gone are the days of renovating a bathroom or kitchen and selling your house for a 20% gain in just over a year. Is that "true price tag"worth spending to get your emotional or utilization return?
Ask for professional advice before undertaking a big project. As an architect and real estate agent, I am obviously a big proponent of planning and knowing the realities of your real estate market before making decisions regarding home improvements. Most professionals will be glad to give an quick opinion or consult without cost or obligation. If you like what they have to say, consider engaging them to help you with the rest of your project. Find a professional for your job at ServiceMagic.com.

Overall, being realistic with your goals, expectations, budget, and abilities are all critical aspects to a home improvement. Assembling a team of professional advisers may cost a little more on the front end, but could save big bucks by steering you clear of costly mistakes.

About Andrew Wilson

As a licensed architect, co-founder of [1016] Architecture in New York and Chicago, and a Licensed Real Estate Salesperson and Realtor with the New York office of RealEstate.com, I bring a unique perspective to the real estate purchase process and see often opportunities where others may not.

I have dedicated my professional life to learning as much as possible about the real estate market and the built environment. I am committed to sharing that knowledge with my clients through exceptional service.

[1016]: Architecture + Real Estate
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Let us know: Think about it, comment below, then:
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Looking for Chicago or Long Island Real Estate?
To search Chicago MLS like an agent: Click here
To search Long Island MLS like an agent: Click here
(powered by ListingBook)

Tuesday, April 6, 2010

How to Search the Long Island MLS like an Agent

Craving the best real estate search information for Long Island, NY?

Your Problem:
You want to know how to search the MLS for access to Nassau County, Long Island, or Queens, NY real estate information, just like an agent.

If you are searching the internet independently for Long Island real estate listings then you are probably running into the following frustrations:

Fragmented searches on many different websites, none of which give you depth of information you are seeking.
Since information is spread between different brokerage sites, it is difficult to keep a convenient record of which properties you liked or didn’t like.
It is entirely too cumbersome to get additional information or schedule a showing for an interesting home without someone dedicated to helping you.
Submitting questions online and dealing with multiple agents is frustrating and ineffective. Listing agents are too busy or they think you're not worth their time.
An agent for a given property is not obligated to you as the buyer. The seller is their client, not you!

The Solution: A Buyer's Agent + ListingBook
You need the best available information at your fingertips and an agent available as a professional resource to answer questions specific to your situation. I do that in association with a powerful and free website called ListingBook.com.

ListingBook puts the power of up-to-the-minute MLS searches at your fingertips and provides a single-source for all listings, communications, and recordkeeping with me as your buyer’s agent. ListingBook increases the breadth of your search across all MLS listings, just like an agent, and consolidates results in one place to save you time.

You are in control and are free to update your searches as you see fit. Don't be forced to rely on unresponsive agents for changes.

Also, with a free ListingBook account through me, I will be informed of the progress of your search and will be available to answer questions along the way. You will have access to a single agent as a dedicated resource.

After technology stops, the transaction begins, and that will always require the best people on your team.

Visit Andrew's ListingBook page to learn more and to search the MLS with real-time information.

[1016] Architecture is ready. Are you?

Let us know: Think about it, comment below, then:

Check out [1016] elsewhere on the web: Facebook, eHow, SlideShare

NY Architect and REALTOR®

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