City of Pensacola Florida

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If you are a Pensacola Florida Pearl Girl, call today for

setting up a Pearl Trunk Show at your location!

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Welcome to PEARL GIRLS SHOP 
                                          (STORE & INVENTORY COMING SOON)                        

       What girl does not LOVE PEARLS? 

The word pearl has become a metaphor for something very rare, very fine, and very valuable; yet seemingly fragile.  But a PEARL is CREATED by GRIT captured deep within the oyster's shell.  The Pearl is symbolic of women of the world - nurturing, beautiful and tough inside.
           
In these economic times, a girl has to be smart and fashionable!  Just like pearls, Pearl Girls are timeless.  Just like lipstick, you can never have enough pearls.                      


Pearl Girls know, all girls love a bargain  Pearl Girls Shop.com is a source for "discounted" pearls and FUN costume jewelry, as well as, other FUN items.  LIFE is SHORT - so enjoy yourself!  Pearl Girls Unite

 

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What could be better than living on the wonderful Gulf Coast of Florida!  A quaint southern town that is located on the northwestern portion of Florida has a New Orleans cuisine flair and diversity.

This is true Coastal Living with the white sugary sandy beaches, eclectic neighborhoods and fun festivals!

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Neighborhoods

The city of Pensacola is composed of several neighborhoods, each of a different age and character:

A generalized map of neighborhoods within the city limits of Pensacola.

• 1. Downtown Pensacola: The historic core of the city. Historic preservation efforts have centered around Palafox Street, downtown's main retail and entertainment corridor. Many of Pensacola's major attractions are here, including Plaza Ferdinand VII, the Pensacola Civic Center and Seville Quarter, as well as much of the city's government and professional office space.
• 2. Brownsville: A working-class neighborhood composed of most of the streets with single-letter names from "E" Street west. It is perhaps most famous as the center of the Brownsville Revival of the 1990s. This neighborhood extends west into unincorporated Escambia County.
• 3. College Park: Consists mainly of middle class homes built in the 1970s. Major landmarks include Pensacola Junior College, Sacred Heart Hospital and Washington High School. Larger subdivisions include Springdale and Broadview Farms.
• 4. Cordova Park: Upper middle class housing built from the 1950s to the 1980s. Some of its wealthier residents live along Bayou Texar. Subdivisions include Cordova Park proper, Birnam Woods and Inverness. Cordova Mall is the commercial center of this neighborhood and the remainder of northeast Pensacola.
• 5. East Brent: Lies east of the unincorporated community of Brent. The area west of Interstate 110 is largely industrial. Major residential subdivisions on the east side of the neighborhood include Highland Terrace and Woodland Heights. Includes Pensacola Christian College immediately adjacent to I-110, and Pensacola Christian Academy along Highway 29.
• 6. East Hill: A middle to upper class neighborhood known mostly for its 1920s-era bungalows and mansions. Housing stock extends into the post-World War II period. Like Cordova Park, the most expensive homes are found along the bayou. Major landmarks include Bayview Park and Old Sacred Heart Hospital.
• 7. East Pensacola Heights: Consists mostly of 1930s-era bungalows with a cluster of apartment complexes and towers along the Scenic Highway bayfront. This neighborhood is known for its eclectic, bohemian atmosphere. Its commercial center stretches along Cervantes Street and includes the locally famous Jerry's Drive-In.
• 8. Gull Point: Developed mostly in the 1980s and predominantly upper-middle class residential. Major subdivisions include Baywoods, Bohemia, Ironwood and La Belle Terre/La Mirage.
• 9. North Hill: Pensacola's first suburb, dating to the post-Civil War period, it is home to the North Hill Preservation District and has been the focus of a tremendous revitalization effort. The majority of the homes in the neighborhood are large Victorians. Belmont-Devilliers, the historically black commercial district, is located in this area, as well as Pensacola High School, the oldest high school in the city.
• 10. Pensacola Gulf Coast Regional Airport
• 11. Sanders Beach/Tanyard: A working class neighborhood consisting of most of the streets with single-letter names south of Garden Street. Barrancas Avenue cuts diagonally through this neighborhood and connects Pensacola to Warrington via the Bayou Chico bridge. The area west of Pace Boulevard is mostly industrial, and the east side of the neighborhood consists mainly of 1930s-era bungalows.
• 12. Scenic Heights: A middle class neighborhood developed between the late 1950s and the late 1970s. It is vastly residential and includes the subdivisions of Scenic Heights proper, Belvedere Park, Eastgate, Hidden Oaks and Tierra Verde.
• 13. Seville Square: The oldest part of modern Pensacola. Consisting of homes, churches and commercial buildings dating to the 18th Century, this is the most consistently historic neighborhood in the city. Historic Pensacola Village, Seville Square Park, Old Christ Church and the New Urbanist development of Aragon Court are located in this neighborhood.
• 14. South Ferry Pass: Lies to the south of the unincorporated community of Ferry Pass. Predominantly residential, it includes the subdivisions of Camelot, Dunmire Woods and Eau Claire Estates, all developed in 1960s and 1970s. The small portion of the city limits that stretches north of Interstate 10 is located in this neighborhood.
• 15. Summit Park: Consists of the middle class subdivision of Summit Park proper as well as the adjacent upper middle class Gaberonne/Lavallet addition. Developed mostly in the 1960s, it also includes clusters of multi-family and high-density single-family residential development along Summit Boulevard and Spanish Trail.
• 16. Long Hollow: A working class neighborhood surrounding the Interstate 110 corridor. The Crystal Ice Company Building is a feature of this neighborhood.

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latest report on Florida home buyers and sellers: TO BUY: HTTP://WWW.JEANNETTESPENCER.COM

ORLANDO, Fla. – Jan. 6, 2009 – What did the typical Florida homebuyer look like in 2008? The answer lies within the pages of the 2008 Profile of Home Buyers and Sellers Florida Report released by FAR and compiled by NAR, which is now available at floridarealtors.org.

Because the real estate market evolves, it’s important for real estate professionals to have a clear picture of today’s home buyers and sellers. The 2008 Profile of Home Buyers and Sellers describes the characteristics and motivations of recent home buyers and sellers in Florida to help real estate professionals track the changing demands of consumers in a dynamic market.

Characteristics of home buyers

• The median age of home buyers was 43 years old. Among first-time buyers, the median age was 32.
• The median 2007 household income of home buyers in Florida was $68,500 compared to $74,900 among home buyers nationally.
• Sixty-seven percent of home buyers had no children under age 18 residing in the home.
• Fifty-eight percent of home buyers were married couples, 18 percent single females, 13 percent single males, and 9 percent were unmarried couples.
• Seventeen percent of home buyers reported they were born outside the United States, compared to 9 percent nationally.
• First-time home buyers accounted for 43 percent of recent home purchases.
• Forty-eight percent of first-time home buyers were between 25 and 34 years old.
• The median income of first-time home buyers was $58,400 compared to $60,600 among all first-time buyers nationally.
• Thirty percent of first-time buyers identified their race or ethnicity as non-white.
• The primary reason for the recent home purchase was a desire to own a home for 60 percent of first-time buyers.
• For the timing of the home purchase, 34 percent reported it was just the right time for them, 19 percent noted they had to purchase when they did, and 29 percent reported it was either due to improved affordability of homes or availability of homes for sale. Only 7 percent stated they wished they had waited to buy.
• Forty-six percent of home buyers reported using social networking Web sites, such as MySpace, Facebook, LinkedIn, and Friendster. Among home buyers aged 18 to 24, 85 percent reported using social networking sites, and 50 percent reported using them every day or nearly every day.

Characteristics of homes purchased

• New home purchases were 25 percent of recent home purchases.
• Seventy percent of homes purchased were detached single family homes.
• The typical home buyer purchased a home 15 miles from their previous residence.
• The median price of homes purchased was $207,000 compared to $204,000 in the U.S.
• The typical buyer purchased a home that was 1,760 square feet in size. The median size of home purchased by first-time buyers was 1,570 square feet
• Commuting costs were considered as very or somewhat important by 79 percent of buyers when considering which home to purchase.
• Recent home buyers plan to live in their home a median of 10 years.

The home search process

• Twenty-nine percent of recent buyers reported that their first step in the home-buying process was looking online for properties for sale. Thirteen percent of first-time buyers and 19 percent of repeat buyers reported their first step was to contact a real estate agent.
• Eighty-four percent of home buyers used a real estate professional during their home search.
• Among home buyers, the typical Internet searcher was 41 years old and visited a median 12 homes. The typical home buyer who did not use the Internet to search for homes was 54 years old and saw a median 7 homes.
• Forty percent of home buyers first learned about the home they purchased from a real estate professional; 24 percent first learned about the home they purchased through the Internet.
• Real estate agents were viewed as a very useful information source by 79 percent of buyers, and as a somewhat useful information source by an additional 19 percent of buyers searching for a home.
• Six percent of buyers purchased a foreclosed home. 48 percent considered buying a home in foreclosure, but either could not find the right home, or found the purchase process to be too difficult or complex.

Home buying and real estate professionals

• Seventy-eight percent of home buyers purchased their home through a real estate agent or broker.
• Thirty-seven percent of first-time buyers were referred to their agent by a friend, family member, neighbor or relative.
• Ninety-seven percent of buyers ranked honesty and integrity as a “very important” factor when choosing a real estate professional to assist with a home purchase.
• When asked about their agent’s performance on those qualities considered important, 84 percent reported they were “very satisfied” with the honesty and integrity of their agent.
• Seventy-two percent of recent buyers will definitely use their agent again and 16 percent will probably use the agent again or recommend to others.

Financing the home purchase

• Eighty-eight percent of home buyers financed their home purchase; 95 percent of first-time home buyers financed the purchase of their home compared to 82 percent of repeat buyers.
• Savings was the chief source of the downpayment for 65 percent of first-time buyers.
• Forty-two percent of repeat buyers used proceeds from the sale of their primary residence toward the downpayment; 44 percent relied on savings for a portion of the downpayment.
• 48 percent of home buyers reported they have made some sacrifices to be able to make their home purchase, such as reducing spending on luxury items, entertainment or clothing.
• Forty-seven percent of all buyers believe that their home purchase was a better financial investment than stocks, and an additional 30 percent of buyers feel their home purchase was at least as good an investment as stocks.

Home sellers and their selling experience

• The median age of home sellers was 52 years; they had a median income of $80,600.
• Sixty-nine percent of home sellers were married and 72 percent had no children under 18 years old living at home.
• Thirty-eight percent of sellers traded up to a larger home when purchasing their next home.
• The typical home seller owned their home for 6 years.
• The typical home was on the market for 12 weeks. Thirty-one percent of home sellers did not reduce their asking price before their home sold.
• Recent sellers typically sold their homes for 92 percent of the listing price.
• Forty-four percent of sellers offered incentives to attract buyers, most often assistance with closing costs and home warranty policies.
• Eighty-five percent of sellers used an agent or broker to sell their home.
• Forty-nine percent of all sellers were very satisfied with the selling process.

Home sellers and real estate professional

• Fifty-seven percent of sellers contacted only one agent before selecting one to help assist in the sale of their home.
• When selecting a real estate professional, 38 percent of sellers received a recommendation from a friend, neighbor or relative.
• The reputation of the agent was the most important factor when choosing a real estate professional for 34 percent of recent sellers.
• Nineteen percent of sellers used the same agent for their home purchase.
• For 23 percent of sellers, their most important expectation was that the real estate agent would help price home competitively; 24 percent reported that their most important expectation was that the agent help sell the home within a specific timeframe.
• Ninety percent of sellers reported their home was listed or advertised on the Internet.
• Seventy-nine percent of sellers used an agent that provided a broad range of services and managed most aspects of the sales transaction.
• Sixty-four percent of sellers reported they would definitely use the same real estate agent again.

For sale by owner sellers (FSBO)

• Twelve percent of sellers sold their home without the assistance of an agent compared with 13 percent of sellers nationally. Among all sellers, 5 percent were FSBO sellers who knew the buyer.
• Fifty-nine percent of FSBO sellers reported that they had some difficulty in selling their home themselves, in performing tasks such as understanding and performing the necessary paperwork to complete the transaction, preparing the home for sale, and getting the price right

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Low rates keeping homes affordable

WASHINGTON – Sept. 8, 2009 – Falling interest rates are fueling a rise in home mortgage applications and refinancings in the Inland region, though experts aren’t yet ready to declare the beleaguered local housing market on the road to full recovery.

Virginia-based Freddie Mac, a government-backed corporation that provides mortgage capital to lenders, released a study Thursday showing 30-year fixed-rate mortgages averaging 5.08 percent, down from 5.14 percent a week ago and 6.35 percent a year ago.

“Bond yields pushed mortgage rates slightly lower this week,” Freddie Mac chief economist Frank Nothaft said in a statement. “Low mortgage rates are helping to keep housing very affordable.”

According to the National Association of Realtors’ housing affordability index, seven of the top eight most affordable months occurred during this year. Pending sales of existing homes rose for the sixth straight month in July, the association reported.

A Thursday check of Bankrate.com, which tracks lending trends, showed Inland rates for a 30-year fixed mortgage ranging from 4.5 to 5.75 percent. Rates assume a 20 percent down payment, and lenders are maintaining strict credit standards, according to Bankrate.

Bankrate this week released a study indicating closing costs on home purchases have recently dropped to 2007 levels, another reflection of pricing shifts in the national housing market.

Gov’t helps keep loans cheap – if you can get one

NEW YORK (AP) – Sept. 18, 2009 – It’s a good time to borrow money for a home, car or small business.

A year after a global freeze in the credit markets prompted massive government intervention to prevent the financial system from collapsing, interest rates remain at historic lows. But banks are demanding more collateral, bigger downpayments and detailed financial histories from borrowers.

And that’s for people with good credit. Everyone else need not apply.

The stingy lending is likely to last.

“Banks are going to be in a defensive posture for several years. Most borrowers can’t meet their criteria,” says Christopher Whalen, managing director at research firm Institutional Risk Analytics.

No segment of borrowers has been spared:

• Nearly seven of 10 mortgage applications were approved and financed during the housing boom five years ago. At the end of 2008, the number was down to five.

• Revolving credit, which is primarily made up of credit card debt, declined by $6.1 billion, or 8 percent on an annualized basis, in July. That’s a sign consumers are having difficulty obtaining credit and are cutting back on spending.

To be sure, it is cheaper for businesses and consumers to take out a loan today than it was at the height of the crisis last fall.

The average 30-year mortgage rate stands at 5.04 percent after falling to a record low of 4.78 percent in April. The overnight rate that banks charge each other to borrow money – a key indicator of the credit markets’ overall health – has plummeted. The London Interbank Offered Rate, or LIBOR, stands at 0.29 percent today. It soared above 6 percent last September when fear threatened to choke off lending throughout the financial system.

But those improvements are somewhat misleading. Lending – especially for homes – is being greased by trillions of dollars the federal government has made available to banks.

The Federal Reserve has provided nearly $340 billion in low-cost loans for banks. It has purchased $625 billion worth of mortgage-backed securities to drive down interest rates on home loans. The Federal Deposit Insurance Corp. is guaranteeing about $300 billion in bank debt, which enables banks to borrow at lower rates.

No one wants to see a return to the easy credit that led to the financial crisis. The question is when will credit return to normal – not too loose, not too tight and not propped up by the government?

Not soon, financial analysts and government officials say.

“We will not make the mistake of prematurely declaring victory or prematurely withdrawing public support for the flow of credit,” says Lawrence Summers, the White House’s top economic adviser.

Some analysts think it could take four or five years for the Fed to withdraw the money entirely and shrink a balance sheet that is now about $2 trillion, more than double what it was when the financial crisis struck.

The government’s role in steadying the housing market is huge. Home sales are rising, but more than two-thirds of U.S. mortgages made in the first half of this year were later sold to Fannie Mae and Freddie Mac, which are 80 percent owned by the federal government. Three years ago, Fannie and Freddie’s combined share was 33 percent, according to Inside Mortgage Finance, a trade publication.

Some financial analysts fear what will happen as the government winds down its lending programs. These analysts say banks have become so hooked on federal aid that they may become even more reluctant to lend once it is gone.
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For buyers of new Homes, buying real estate is similar to buying stocks - you want to buy LOW and sell high.

Market value has declined in the past few years due to the economy which is a buying advantage for anyone looking for a new home.

Interest rates on 30-year loans drop to 5.04 percent Experts polled by Bankrate.com generally expect rates to hold steady (59 percent) over the next 30 to 45 days. While 25 percent predict further drops, only 16 percent forecast an rate increase.

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or call: 877-461-9907

WASHINGTON – Sept. 18, 2009 – Rates for 30-year home loans edged down for the third-straight week and are close to record lows reached over the spring, providing an excellent opportunity for borrowers to save money by refinancing their home loans.

The average rate for a 30-year fixed mortgage was 5.04 percent, down from 5.07 percent a week earlier, mortgage company Freddie Mac said Thursday. Rates, while above the record low of 4.78 percent hit in the spring, are still attractive for people looking to buy a home or refinance.

It was the lowest weekly average since the week of May 28, when rates averaged 4.91 percent.

To prop up the housing market and help the economy revive from the worst recession since the 1930s, the Federal Reserve is spending $1.25 trillion on mortgage-backed securities, which has driven down rates on home loans.

That money is set to run out by winter, though some analysts expect the central bank to add more money to the program or allow it to last longer by gradually reducing its purchases.

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http://www.pnj.com/article/20090915/NEWS01/909150323

Sanders Beach center steppin' out

State-of-the-art Sanders Beach center opens Friday.

To find a home in the area: http://www.jeannettespencer.com

REALTOR® Magazine Online's Architecture Guide makes it easy to learn about home styles, architectural details, and design trends. Read our exclusive Architecture Coach column or browse Residential Styles to become more knowledgeable about the properties in your market provided by:

JEANNETTE SPENCER of Connell & Manziek Realty in Pensacola, Florida.

http://www.jeannettespencer.com

877-461-9907 toll free

http://www.realtor.org/rmohome_and_design/architecturecoach

Provided by Pensacola Home Realtor, Jeannette SPencer of Connell & Manziek Realty covering Gulf Breeze Homes, Pensacola Homes, Pensacola Beach.

http://www.jeannettespencer.com

877-461-9907 toll free

http://www.realtor.org/rmoarchitecture_guide/residentialstyles

Provided by Pensacola Realtor, Jeannette Spencer of Connell & Manziek Realty

http://www.jeannettespencer.com

877-461-9907 toll free

Despite home price dr

 in many cities, remodeling projects are holding their own as a way for owners to add value.

 Many people are wondering where their money will be safest during these uncertain economic times. When home owners turn to you for your expert advice, counsel them that some things never change: Investing in their home still pays off.

 NATIONAL ASSOCIATION OF REALTORS® statistics show that home prices have fallen by an average of 7 percent nationally in the past year. But the value of home owners’ investment in remodeling projects has declined only 3.86 percent on average between 2007 and 2008, according to Remodeling’s 2008–2009 Cost vs. Value Report.

 Remodeling produces the Cost vs. Value Report each year in cooperation with REALTOR® magazine. REALTORS® responding to a survey in midsummer said home owners could expect to recoup a national average of 67.3 percent of their investment in 30 different home improvement projects. At the height of the housing boom in 2005, home owners could expect to recoup a national average of 86.7 percent on projects.

 Remodeling remains hot in 10 cities, where, on at least some projects, home owners can recover 100 percent of their costs. In Charlotte, N.C., for example, decks, midrange kitchen remodels, vinyl siding, and window-replacement projects all would net more than they cost, in respondents’ estimation. High rates of recovery were seen in both strong real estate markets and weak ones. 

 Many cities with the highest rates of recovery were smaller—Jackson, Miss., and Billings, Mont., for example—which may point to lower labor and materials costs that are easier to recoup. 

 Seattle also made the list of cities with a cost recovery of more than 100 percent on decks and minor kitchen remodels. In fact, Pacific Coast cities recorded the best payback on remodeling by a wide margin, as they did in 2007. Although construction costs on the Pacific Coast are nearly 17 percent higher than national averages, the value of renovations at resale more than makes up for those higher prices. 

 The result is an average cost-recouped percentage that’s 14.8 percent higher than in the rest of the country. The toughest place to get your money back: Midwestern cities such as Chicago, Cleveland, Indianapolis, and Milwaukee.

 Top 10 Project Paybacks 

 Once again, exterior remodeling projects lead the way for recovery on dollars spent in this year’s Cost vs. Value survey. When you compare the national averages, replacement projects that boost curb appeal—siding, windows, and decks—give you the greatest chance of recouping your money. Inside, only kitchen remodels can compare, at least on a national level.

 1. Upscale fiber cement siding (86.7%)

2. Midrange wood deck (81.8%)

3. Midrange vinyl siding (80.7%)

4. Upscale foam-backed vinyl (80.4%)

5. Midrange minor kitchen remodel (79.5%) 

6. Upscale vinyl window replacement (79.2%)

7. Midrange wood window replacement (77.7%)

8. Midrange vinyl window replacement (77.2%)

9. Upscale wood window replacement (76.5%

10. Midrange major kitchen remodel (76.0%)

 The Real Deal: Examples from You

 REALTORS® around the country helped us track down home owners who had recently completed remodeling projects. In all cases, the projects cost far less than the job cost estimates provided with the Cost vs. Value survey.

 ATTIC-TO-BEDROOM 

Location: Oak Park, Ill. 

 When Rick Nagle and Eileen Deamer of Oak Park, Ill., spent more than $35,000 to convert the attic of their 100-year-old home into a combination master bedroom and office, "resale value wasn’t our concern," says Deamer, a U.S. government employee and the married mother of two. 

 The transformation turned 600 square feet of makeshift office with a toilet in the middle of the room to a colonial-style bedroom/office with two walk-in closets and an adjoining sage green bath with a walk-in shower. To allow two simultaneous uses, pocket doors separate the bedroom and office spaces.

 BATHROOM 

Location: Fountain Hills, Ariz. 

 "This is such a crazy market to try to judge how much a renovation is worth, but having a refurbished kitchen and bathrooms makes almost any house more salable," says Shari Gay, ABR®, sales associate at RE/MAX Sun Properties in Fountain Hills, Ariz. The owner—Gay’s sister—added Saltillo clay floor tile throughout the 1,800-square-foot home, including the new bathroom. Bathroom finishes included a new cherry vanity cabinet, a tile shower, oil-rubbed bronze fixtures, and a soothing, sophisticated yellow color scheme, which all add up to a great look. 

 Total cost? About $5,000. "She’ll at least break even on the upgrades," predicts Gay. "If this were a boom market, she would get even more."

 KITCHEN 

Location: Honolulu 

 A kitchen is the heart of most homes. That’s why Hollywood set designer Wally White decided to spend most of his $15,000 renovation budget on upgrading the kitchen of his Honolulu studio condo. To spruce up the existing white cabinetry, which he left to save costs, the owner added bursts of color with celadon green granite countertops and walls painted in a complementary shade of light green. An undermounted white porcelain sink, a six-light halogen fixture on a dimmer, and brushed stainless steel faucet completed the look. It paid off. 

 White grossed $45,000 when he sold eight months later. "The unit sold for more than any other studio—and most of the one-bedroom condos in the building," says Susan Weinik, a sales associate with Realty Executives Oahu.

 BASEMENT

Location: West Brighton, N.Y.

 In a modest 1950s ranch in West Brighton, N.Y., a midrange basement upgrade suited Bernard Fallon’s mother-in-law, Ligaya Nocon, just fine. After purchasing her home "on the high end of the market," according to Fallon, broker at Fallon Associates Realty in Rochester, N.Y., Nocon kept basement renovation costs under $9,000. 

 She created a cottage feel by whitewashing the knotty pine paneling rather than replacing it. She also reupholstered the existing bar to cover wear and warmed up the room with wall-to-wall carpeting instead of wood or tile. "We just dressed it up for the personal enjoyment of my mother-in-law," says Fallon, "but I think it will help sell the property later."

 The Specs

 To help respondents determine the resale value of improvements, the survey provided specifications for each project:

 Attic Bedroom Remodel. Convert unfinished attic space to a 15-by-15-foot bedroom and a 5-by-7-foot bathroom with shower. Include a 15-foot shed dormer, four new windows, and closet space under the eaves. Insulate and finish ceiling and walls. Carpet floor. Extend existing HVAC to new space; provide electrical wiring and lighting to code. Retain existing stairs, but add rail and baluster around stairwell.

• Minor Kitchen Remodel. In a functional but dated 200-square-foot kitchen with 30 linear feet of cabinetry and countertops, leave cabinet boxes in place but replace fronts with new raised-panel wood doors and drawers, including new hardware. Replace wall oven and cooktop with new energy-efficient models. Replace laminate countertops; install mid-priced sink and faucet. Repaint trim, add wall covering, and remove and replace resilient flooring.

• Basement Remodel. Finish the lower level of a house to create a 20-by-30-foot entertaining area with wet bar and a 5-by-8-foot full bathroom; construct 24 linear feet of finished partition to enclose mechanical area. Walls and ceilings are painted drywall throughout; exterior walls are insulated; painted trim throughout. Include five six-panel factory-painted hardboard doors with passage locksets. Electrical wiring to code. Main room> Include 15 recessed ceiling light fixtures and three surface-mounted light fixtures, as well as a snap-together laminate flooring system. Bathroom> Includes standard white toilet, vanity with cultured marble top, resilient vinyl flooring, two-piece fiberglass shower unit, a light/fan combination, vanity light fixture, recessed medicine cabinet, towel and paper-holder hardware. Bar area> Include 10 linear feet of raised-panel oak cabinets with laminate countertops, stainless steel bar sink, single-lever bar faucet, undercounter refrigerator, and vinyl floor tile.

• Upscale Bathroom Remodel. Expand an existing 35-square-foot bathroom to 100 square feet within existing house footprint. Relocate all fixtures. Include 42-by-42-inch shower with ceramic tile walls with accent strip, recessed shower caddy, body-spray fixtures, and frameless glass enclosure. Include a customized whirlpool tub, stone countertop with two sinks, two mirrored medicine cabinets with lighting, a compartmentalized commode area with one-piece toilet, and a humidistat-controlled exhaust fan. Use all color fixtures. Use larger matching ceramic tiles on the floor, laid on the diagonal with ceramic tile base molding. Add general and spot lighting including waterproof shower fixture. Cabinetry includes a custom drawer base and wall cabinets for a built-in look. Extend HVAC system and include electric in-floor heating and heated towel bars.

Why Renovation Pays

Why are renovations holding their value better than home prices today? "When housing slows down, people stay put and renovate their house to make it more livable," says Paul Zuch, president of Capital Improvements, a designing, building, and remodeling company in Dallas. And by renovating before they sell, home owners get to enjoy the new space themselves, not just make the home more appealing to buyers. "It just makes sense," says Zuch.

Recent renovations also make buyers’ lives easier. "Home owners who remodel their home are providing a service to future buyers," says Eileen Nelis, a broker at Savvy and Co. in Charlotte, N.C. "When buyers purchase, they don’t want to do all that painting and remodeling, and they don’t want that price tag. They may be willing to make improvements down the line, but when they purchase, they want to open the door and have everything complete. It reduces their stress."

Making home improvements can also reduce sellers’ stress by heading off that time-honored negotiating technique—pecking away at the sales price by pointing out imperfections. "If sellers have done some improvements and dressed up their property, the improvements will help sell it," says Bernard Fallon, broker at Fallon Associates Realty in Rochester, N.Y. "If sellers don’t want to improve their property, buyers will tick off the repairs and try to take them off the price."

That doesn’t mean that every home owner should do every renovation, even in a more stable real estate market. Take Tulsa, Okla., where median home prices actually edged up slightly more than 2 percent in 2008, according to NAR. REALTORS® in Tulsa reported that, of the 30 remodeling projects surveyed, only 16 netted home owners at least 80 percent of the cost. 

"Not every neighborhood will support the additional work," says Jim Hemphill, a sales associate at Coldwell Banker Select in Tulsa, "but in older, more established neighborhoods, if you redo a kitchen or bathroom or add a master bath or bedroom, you’ll get your money out."

Despite the value, the weak economy is likely to slow seller spending on remodeling, at least in the short term, predicts the most recent Leading Indicator of Remodeling Activity computed by the Joint Center for Housing Studies at Harvard University. 

The LIRA for the third quarter of this year estimated that owners’ spending on home improvements will decline at an annual rate of 12 percent by the second quarter of 2009, continuing a two-year downward trend. Spending is unlikely to recover until the housing market turns around, according to the Center.

Yet, despite declines in overall remodeling dollars spent and a still shaky housing market, "people’s homes are still one of their best, most solid investments," notes Zuch. "Even though the markets have gone through some adjustments, it’s still smart to invest in your home."

Staging on a Budget

What's your best, most affordable staging idea? Dozens of real estate pros offer their best tips

Link: http://www.realtor.org/rmohome_and_design/articles/2009/0904_home_stagingtips

Provided by Jeannette Spencer, Pensacola Homes

Realtor with Connell & Manziek in Pensacola, Florida

http://www.jeannettespencer.com

877-461-9907 toll free

http://link.brightcove.com/services/player/bcpid7226192001

Provided by Pensacola Realtor, Jeannette Spencer of Connell & Manziek Realty in Pensacola, Florida.

877-461-9907 toll free

http://www.jeannettespencer.com

Daily Real Estate News  |  September 4, 2009  |   Share

Home Buyer Tax Credit Countdown Begins
The first-time home buyers tax credit ends Nov. 30. Is it possible to buy in the next two weeks and still close in time to collect it?

Economist Kevin Gillen of Econsult predicts a mad rush to close as the deadline nears.

Bruce Hahn, president of the American Homeowners Grassroots Alliance in Arlington, Va., is pushing for an extension and an expansion of the credit.

Legislation to do that is critical, he says, because the recovery has so far been mostly jobless and people need more time to get their feet on the ground in order to buy.
http://www.jeannettespencer.com

877-461-9907 toll free for real estate needs