Published with permission from RISMedia.

Published with permission from RISMedia.

Published with permission from RISMedia.

1. Updated homes – Latest styles, surfaces, and appliances. The last thing you want your buyer to do when they sit down to pick from the houses they saw that day is to remember your house as “that nice one, but the kitchen was from the 80′s.”
2. No repair issues – Buyers walk away from houses with bad roofs, old furnaces, undersized electrical, bad plumbing, warped flooring, worn carpets, or cracked tile. Negative memories of your house will not help to get it sold.
3. Stand-Out luxuries- Buyers want features that make their house better than all of their friends’ houses. To make your house stand out, it needs to have memorable features that other houses don’t have, like a glorious sunroom, a luxurious master bath, or a kitchen with the best surfaces and latest gadgets. You want buyers to remember your house as “that one with the fabulous master bath.”

• Fixing up your dated house so that you can sell it faster and for more money doesn’t mean you can get a 2007 price for your house today. 2007 is long gone, the housing bubble burst, and prices are down to more sane levels. Doing all this work to fix up your house just means that it can sell faster, but it still won’t sell for more than the house is worth in today’s market.
• It also means that you have to have the will and fortitude to do a lot of work, spend money, and manage all of these repairs on a house you are trying to sell. Do you want to make that investment in a property you are leaving? You are trading your time, effort, and money in order to sell your house faster.
• The more issues with your house that you fix, the better your chances of selling. But leaving even one of the important issues un-fixed can torpedo your chances. A nice kitchen won’t sell the house if the roof is worn out and leaky. You need to fix all of the big issues, and as many of the rest as you can afford.
• Fixing up your house just before you sell isn’t without risk. Will you get your investment back in the sales price? Will the contractors you hire get it done quickly? Will the work pass inspection (you can’t sell your house without all work passing inspection)?

1. How much would it cost to rebuild my home in its current location in the event of a total loss? Your homeowners insurance policy should cover the cost of building a new home from scratch. Your insurance agent or insurance company representative will have knowledge of your neighborhood, and familiarity with the construction materials used when your home was originally built and can accurately calculate this cost. In general, homeowners policies cover partial or total damages caused by fire, hurricane, hail, lightning or any other disaster listed in your policy. Flood and earthquake-related losses must be insured separately because both perils are excluded in standard homeowners insurance policies.
2. How much is the personal property in my home worth in the event of a total loss? Your homeowners insurance policy should cover the cost of replacing all personal property (furniture, appliances, clothing) should it be stolen or destroyed by fire, hurricane or another insured disaster. Most companies provide personal property coverage equal to about 50 to 70 percent of the amount of insurance you have on the structure of your dwelling. So if you have $100,000 worth of dwelling protection, most insurers would recommend $50,000 to $70,000 worth of personal property coverage. The best way to determine if this recommendation is appropriate for your specific situation is to conduct a home inventory. Consider using the I.I.I.’s Know Your Stuff® - Home Inventory app in the iTunes App Store.
3. How much liability protection do I need? Liability covers you against lawsuits for bodily injury or property damage that you, or your family members, cause to other people. It also pays for damage caused by your pets. The liability portion of your policy pays for both the cost of defending you in court and any court awards—up to the limit of your policy. You are also covered not just in your home, but anywhere in the world. Liability limits generally start at about $100,000. Most insurance agents and company representatives recommend that you purchase at least $300,000 worth of liability protection. If you have significant assets and need more liability protection than is offered under the standard homeowners policy limits, ask your agent about umbrella liability.
4. What level of additional living expense coverage do I need? The Additional Living Expenses (ALE) provision is found in standard homeowners insurance policies. It pays for the costs of living away from home if you cannot reside there due to damage from an insured disaster. ALE covers hotel bills, meals and other expenses over and above your customary living expenses. ALE coverage differs from company to company. Many policies provide coverage equal to about 20 percent of your dwelling protection. For example, if the structure of your home is insured for $100,000, you would have $20,000 of ALE coverage. Some companies impose a time limitation, such as 12 to 24 months.
5. Should I buy a separate flood and/or earthquake insurance policy? There were numerous flooding events and earthquakes in the U.S. in 2011, but relatively few Americans had coverage for either type of natural disaster because these perils are excluded from standard homeowners insurance policies. Check with your insurance agent or insurance company representative to see whether you might need specialized coverage beyond your standard homeowners insurance policy.
6. Do I qualify for any discounts? If you have smoke detectors, burglar alarms and/or dead-bolt locks in your home, you can often get a premium rate discount. Sophisticated sprinkler systems and alarms that ring at monitoring stations often reduce your homeowners insurance premium, too. Ask your agent or company representative about discounts available to you. If you are at least 55 years old and retired, for instance, you may qualify for a discount of up to 10 percent at some companies. If you have completely modernized your plumbing or electrical system recently, a few companies may provide a price break.

Published with permission from RISMedia.

• Together, baby boomers and Gen Y comprise 50 percent of the population and will soon be part of the largest U.S. wealth transfer ever
• 60 percent of Gen Y goes to college
• More than 38 million U.S. residents (12 percent of the population) are foreign born
• 33 percent of all PhDs and 57 percent of all post-doctorates in science and engineering were awarded by U.S. universities to foreign students
• About 4.3 million Gen Y residents reached age 22 in 2010

Published with permission from RISMedia.

Published with permission from RISMedia.

“New home starts may increase 15% from last year.” – Dallas Morning News, February 9, 2012

“North Texas’ population growth led the nation with more than 146,000 new residents in N. Texas area from 2008 to 2009 (latest figures available).” – North Texas Commission

“Nationwide housing affordability during the third quarter of 2011 hovered near its highest level in more than 20 years.” – National Association of Homebuilders

“Mortgage interest rates are at an historic low – the lowest since World War II.” – Federal Home Loan Mortgage Corporation (Freddie Mac).

“Housing sector (is) now, potentially, a source of growth”. – Harvey Rosenblum, Executive Vice President & Director of Research, Dallas Federal Reserve “Homes put under contract for sale in January 2012 (contract pending) were up more than 19% over January 2011.” The preceding was sent to all members of the Ebby Halliday Companies by President & CEO Mary Frances Burleson.