144 Hickory – Space to Entertain, Inside and Out

Beautifully maintained home in excellent Georgetown Village neighborhood.

The charming home at 144 Hickory is located on a quiet street with a cute front porch and a huge yet inviting back yard. You never want to judge a book by its cover, but in this case the immaculate landscaping and condition of the exterior is exactly the type of pride and joy you will see on the interior. For you college die hards, the only thing that may turn you away is the Aggie symbols, but those can be easily replaced.

Hardwood floors - the most expensive upgrade has already been done for you.

Bamboo hardwood and tile floors greet you on the first floor. They have been professionally installed and well-maintained – meaning no scratches, cracks, or dents – and ready to be enjoyed by its next owner. The kitchen does not have stainless steel appliances or granite counter tops – two things most owners love to hand-pick themselves – but it as clean as a whistle.  It does have a nice free-flowing and open floor plan that will work for almost everyone.  Check out the video below to get a better idea of the floor plan.

For those who don't like to squeeze into their master bedrooms.

At 1,972 sf, this home gives you a large master bedroom with private walk-in bathroom, a formal dining room (or easily turn it into an at-home office), two large bedrooms on the second floor, and a nice loft area to read, watch tv, or work on kids’ projects. The home is a stone’s throw from the second largest park in the neighborhood and a 5-minute walk to the city pool and largest park in the neighborhood. It’s also conveniently located near Village Elementary School, one of the highest rated schools in Georgetown.  Priced at $194,000, this home is ready to be sold.

Pictures, info, and video below:

144 Hickory – Upgrades
144 Hickory – Floor plan
144 Hickory – Sellers Disclosure
144 Hickory – Survey

 

What sells better in Georgetown – 3 or 4 bedrooms?

I got an email from a past client the other day and she was wanting some advice on a small remodeling project:

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Hey Edward – I’ve been thinking I might like to make two of our bedrooms into one large one. The bedrooms are very small here.  Do you think that would be a mistake if we ever decided to sell? It would make our house a three bedroom instead of a four. – W.T.

I’m sure many of us have considered a renovation project at some point during home ownership.  Having HGTV or being inspired by Extreme Makeover:  Home Edition has certainly given renovation projects a new twist!  Fortunately for W.T., knocking down a wall to combine two bedrooms is an easier project than most.  The only question is, “What will it do to the value of her home?”

Well, let’s look at a comparison of ALL 3 bedroom homes with 4 bedroom homes in the city of Georgetown, Texas that sold in the past 12 months:

3 Bedrooms: 453 Sold, 37 currently Pending, 219 For Sale – 5.8 months of inventory

4 Bedrooms: 300 Sold, 20 currently Pending, 244 For Sale – 9 months of inventory

According to the numbers, more 3 bedroom homes have sold and there is less competition.  But what about if we narrow the search down to the home’s price range?

3 Bedrooms: 129 Sold, 8 currently Pending, 56 For Sale – 5.2 months of inventory

4 Bedrooms: 68 Sold, 2 currently Pending, 38 For Sale – 6.8 months of inventory

Although the inventory for a 4 bedroom home shrinks from 9 months to almost 7 months, it’s still 1.6 months more inventory than a 3 bedroom home.  It’s nice to know that the numbers are on your side, at least in the current market.  However, if you’re going to be staying in that home for a long time then I would go ahead with the renovation even if the numbers were not on your side. Why?  Well, it’s not like you’re doing something that will turn off a significant portion of the market like converting your garage to another bedroom and having no garage…you’ll also improve your quality of life and get lots of use out of a bigger room. You might even sell your home to a buyer who feels most rooms in a 4 bedroom home are too small anyway!

Quick caveat: In this particular neighborhood, most of the homes that sold in the past 12 months were 4 bedrooms homes.  In fact, only 3 of the 23 homes were 3 bedrooms, and the quickest home to sell took 94 days.  There’s only one 3 bedroom home (out of 5 homes) currently for sale and I’m the listing agent on it so maybe I’ll break a record:)  The big downside of removing the 4th bedroom is restricting your audience to just the 3 bedroom market.  The home with 4 bedrooms is able to compete in both markets.

What about you? I’d love to hear from readers about your success or nightmare renovation project! If you think going to a 3 bedroom home is a mistake, tell us why!  Would it be better to split the 4th bedroom and make it a 5 bedroom home?:)

Looking for information on Georgetown Texas Homes For Sale? Visit my website or call me anytime!! Want the latest updates on Georgetown Texas Real Estate, news and latest developments? Sign up for the blog by clicking the link below:

What’s the Mortgage Rate?

What’s today’s mortgage rate? That, my friend, is the million dollar question.

Ok, so I’m buying a house: the “cat is officially out of the bag.” I tried to keep it low-key because i wanted to surprise my in-laws. I wanted to wait for them to visit me and find renters in my current home! I would have LOVED to see that! So, I’ll write about this homebuying experience later.

For now…what’s today’s mortgage rate?

I locked my loan for 6.375% because I was told that rates went up today on the 30 year fixed. However, later this evening I was told by another lender that rates went down! So what gives? Like any resourceful, diligent young real estate agent I decided to Google this. I Googled “daily mortgage rate history” and “mortgage rates” to get to the bottom of this.

I found three articles:

This one says that rates are unchanged http://www.reuters.com/article/gc03/idUSN1043138120080710

This one says that rates are higherhttp://money.cnn.com/2008/07/10/real_estate/mortgage_rates/?postversion=2008071013

This one says that rates are lowerhttp://www.foxbusiness.com/story/markets/industries/finance/bankrate-mortgage-rates-fall-weeks-row/

Can you figure this out? First one to give me an answer gets Starbucks on me…

Tracey Day’s first post – FHA LOANS

Waiting to purchase a home in Georgetown, Texas using an FHA loan? There is something you should know…FHA is making changes to it’s lending on 1 – 4 unit single family mortgages.

Coming July 14th, FHA will make the following changes:

1. Risk based pricing on rates…higher rates for those that are credit challenged
2. Risk based pricing on FHA’s one-time funding fee…use to be 1.5%; it will now range from 1.25-2.25%
3. Monthly mortgage insurance…use to be 0.5%; now it will be 0.55

These changes will be based on credit scores and amount of money you will be putting down (LTV).
If your credit scores are not in good shape…better work on it otherwise it is going to cost you :(

~ Tracey Day

Editors Note: Looking for a great Georgetown Texas lender? Tracey is local in Georgetown and works hard for your referrals. He’s handled my own personal loans and has some competitive rates! Best of all, he’ll work with you to clean up the credit report so that you have the best borrowing power when it comes down to getting a loan. You’ll be seeing more of him on this blog, so please comment and ask any questions you have on the financing side of things.

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