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soldonlubbock.com

SOLDONLUBBOCK.COM ISSUE ONEDECEMBER 2009

Happy Holidaysfrom

Sell Your House Recipe

Ingredients

2 cups of all-purpose REALTOR(for best results use Doug Duncan, REALTOR )1/2 teaspoon of a Free Market Analysis1 cup of MLS Listing2 tablespoons of For Sale Signs1 tablespoon of Open Houses1/2 cup of Printed Media/Ads1 cup of Award Winning Keller Williams Realty

Doug will Combine All IngredientsBake at 350 degrees for 15 minutesLet cool for 5 minutes and enjoyyour house being sold.

®

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Providing Real Estate News for West Texas

searching 1500+ Properties

Overton Overhaul has been called one of the “Country’s most am-bitions urban renewal projects.”

Research economist, Dr. Harold Hunt at TAMU Real Estate Center describes Delber McDougal’s development of Overton as “One of America’s lead-ing examples of New Urbanism.” For more information visit the Real Estate Center. http://recenter.tamu.edu/pdf/1918.pdf

Helping you Find Your Place in the Hub City - That’s My Job...

For many years Lubbock was the last place I would have imagined “planting roots.” In the last two years my fam-ily has been blessed by the outpour-ing of kindness and hospitality this Hub City has to offer. For those of you who haven’t caught on yet, Lubbock is opening new doors of opportunity ev-ery day. With the quality of life, stable housing market and growing economy aren’t you Sold on Lubbock?

FOR MORE INFO ABOUT THIS

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Lubbock is doing better than just keeping up with the U.S. Some say we’re setting the benchmark.

From CNN Money Magazine to the Texas Real Estate Center in College Station, Lubbock has impressed more than just Red Raider Fans or cotton growers.

Top Place to Start a Small Business... #12 in The United States

Did you know the Lubbock Metro area has 270,610 population, a GDP growth of 30% (2001-2006) and 6,571 businesses between 1-49 employees. Are you thinking about starting a busi-ness? Check out Lubbock, Texas!

http://money.cnn.com/smallbusiness/best_places_

launch/2009/snapshot/201.html

LUBBOCK IS KEEPING UP WITH CHANGE

dougduncan@kw.com soldonlubbock.com 806-577-5595

Jim Watkins / Avalanche Journal

The Next Level of Clean

Aside from the necessary intrusions, the most inconvenient aspect of having your house on the market may well be keeping the house in showing condition.

Making a good impression on buyers is very im-portant. It’s not a huge leap for a potential buyer to equate a cluttered or dirty house with poor maintenance of the overall structure, systems, and appliances. Whether accurate or not, this can result in a lower offer than the home might otherwise bring … or worse, discourage an offer altogether.

Getting rid of clutter and keeping up with the constant cleaning can be a full-time job, so it helps to get help from everyone in the family. Even if you are neat and organized and keep a clean home, showing condition is another level. Keeping the house at such a level can be overwhelming. It may even benefit you to hire a short-term professional service to help ease your burden. Some buyers may call for last-minute ap-pointments to see your home. If it has gotten too messy, you may find that you simply can’t spend the time to get it ready for a showing.

If you do find out you’ve only got a few minutes and it looks like a West Texas wind storm just swept through your house, pick up what you can and stow it somewhere—the trunk of your car, the washer and dryer, maybe even the dish-washer. Sure, they may take a peek inside your appliances, especially if they’re conveying with the sale, but there’s also a good chance they won’t and your secret will remain safe.

You may even rent a storage space for your old furniture and other large or off-season items. Keeping your house in prime condition when it’s on the market is tough, but many hands make light work. Don’t neglect this important part of selling your home—it may make a huge differ-ence and considerably shorten the process.

TEXAS ASSOCIATION OF REALTORS®

http://www.texasrealestate.com/eb/1/12/122/archive/clean.cfm

Tips for Buyers and Sellers

Homes on Lubbock MLSTo Search Homes visit www.soldonlubbock.com

Community Reports are the Fastest form of gathering Local Information.

If you haven’t visited my website, SoldonLubbock.com, make sure to do so. I have added a community report program that allows you to review each zip code you’re considering moving into. This re-port includes data like schools, shopping, places of worship and much more. For example, 79424 median home prices are currently $162,500, average travel time to work of 15.27 minutes, house-hold income of $66,553 with 31.7% who have a bachelors degree.

CLICK HERE to learn more about the area you’re interested in.

Moving Soon? - Investigate

NEW ON MARKET LIST PRICE SIZE

1112 77th St $100,000 1,300

519 N Kirby Ave $130,000 1,883

10601 Colton Ave $177,000 2,490

810 N County Road 1460 $270,000 2,850

3314 21st St $349,900 3,238

2310 York Ave $507,000 2,974

HOMES WITH PRICE REDUCTION

REDUCED PRICE

DAYS ON MARKET

3031 68th St $99,950 91

6804 37th St $139,500 142

7806 Louisville Ave $195,950 198

2502 21st St $237,000 119

4808 104th St $399,000 141

3408 Canyon Rd $468,500 125

10601 Colton AveExit Realty of Lubbock

3314 21st StWestern Realty

2310 York AveMcDougal Realtors

dougduncan@kw.com soldonlubbock.com 806-577-5595

RISMEDIA, November 5, 2009 -

After two weeks of de-lay, the Senate cleared the way to pass a sev-en month extension and expansion of the tax credit for home-buyers.

The $8,000 first-time homebuyer tax credit, which was slated to ex-pire Nov. 30, 2009, will be extended for contracts signed before May 1, 2010 that close before July 1, 2010. First-time buyers, who are in the pro-cess of closing now, no longer have to worry about qualifying for the $8,000 tax credit if they do end up closing after the Nov. 30 deadline. The new legislation also increases the income limit for couples with income up to $225,000, a nearly $55,000 increase above the current level.Buyers who already own a home are also now eligible for a tax cred-it and the purchase of a home. The $6,500 maximum credit will

be available to existing homeown-ers who have lived in their current residence for five of the prior eight years. The legislation does set forth several provision including, limiting eligibility for existing homeowners to homes worth $800,000 or less, as well as making both credits available only for primary residences, not sec-ond homes or investment properties.

The legislation took effect No-vember 7, 2009 and is not ret-roactive. Source rismedia.com

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GettinG Your Home readY

Tips to Prepare the inside of your home for sale:

1. Give every room in the house a thorough cleaning and remove all clutter. This alone will make your house appear bigger and brighter.

2. Remove the less frequently used, and even daily-used items from kitchen counters, closets, basement and attic to make these areas more inviting.

3. Pay special attention to the kitchen and bathrooms: they should look as modern, bright and fresh as possible.

4. Buy showy new towels for the bathroom, and put them out only for showings.

5. If necessary, repaint dingy, soiled or strongly-colored walls with a neutral shade of paint.

For More Tips - Visit

www.SoldonLubbock.com

Doug’sWo r k b e n c H

dougduncan@kw.com soldonlubbock.com 806-577-5595

Article From HouseLogic.com

By: G_M FiliskoPublished: August 28, 2009

An annual check-up on your homeown-ers insurance can result in a healthier policy and a healthier pocketbook.

It’s time for your annual check-up. The good news is that for this one, you won’t have to don one of those revealing hos-pital gowns-and you may walk away with a healthier pocketbook. We’re talking about a homeowners insurance check-up, a task you should complete once a year, ideally around renewal time. This will ensure your pol-icy still provides the right level of cover-age for your family, and your premium isn’t costing you more than it should.

Remember, homeowners insurance is es-sential. The coverage is designed to pro-tect your home and its contents, as well as shield you from liability for accidents and such on your property. Block out an hour of your time, call an insurance agent, and get answers to these three im-portant questions.

What type of coverage do I have?The most effective type of coverage is known as “replacement cost,” which covers, up to your policy limits, what it would take today to rebuild your house and restore your belongings, says Jerry Oshinsky, a partner at Jenner & Block in Los Angeles who has represented hom-eowners in litigation against insurers.

“Extended” replacement cost coverage provides protection to your policy limit, say $500,000, and then perhaps another 20% of the cost after that. Percentages vary, but in this example you could re-coup up to $600,000 on a $500,000 pol-

icy, assuming your losses reach that high. Extended coverage can compensate for any unanticipated expenses like spikes in construction costs between policy re-newals. Now harder to find due to the industry shift toward extended replace-ment coverage, “full” or “guaranteed” replacement coverage covers an entire claim regardless of policy limits.

A less attractive al-ternative is “actual cash value” coverage that usually takes into account depre-ciation, the decrease in value due to age and wear. With this type of policy, the $2,000 flat-screen TV you bought two years ago will be

worth hundreds of dollars less today in the eyes of your claims adjuster. Kevin Foley, an independent insurance broker in Milltown, N.J., favors replacement cost coverage unless you can save at least 25% on the premium for going with ac-tual cash value coverage instead.

Even if you have re-placement cost protec-tion for your dwelling and personal property, don’t assume every-thing is covered. Struc-tures other than your home on your proper-ty-such as a detached garage or swimming pool-require separate coverage. So too do luxury items like jewelry, watches, and furs if you want full replacement cost because reimburse-ment for those items is typically capped.

How much coverage do I really need?OK, now that you’re clear on what type of policy you have, you need to figure out how much policy you truly require in dollar terms. Let’s say you purchased

your home five years ago and insured it for $200,000. Today, it’s worth $225,000. Simply increasing your coverage to $225,000 may nonetheless leave you un-derinsured. Here’s why.

The key to determining how much dwell-ing coverage you need isn’t the value of your home but the money you’d have to pay to rebuild it from scratch, says Car-los Aguirre, an agent for Liberty Mutual Insurance in Arlington, Texas. Call your local contractors’ or homebuilders’ as-sociation and inquire about the average per-square-foot construction cost in your area. If it’s $150 and your home is 2,000 square feet, then you should be insured for $300,000.

There’s no rule of thumb for how much your homeowners insurance should cost. Insurers use numerous factors-age, edu-cation level, creditworthiness-to deter-mine pricing, so the same policy could run you more than your neighbor. In recent years the average annual premium was $804. Oshinsky advises against scrimp-ing on insurance because big increases in coverage probably cost less than you’d

think. He recently purchased a liabil-ity policy that cost $250 for the first $1 million in coverage. Adding another $1 million increased his premiums only $12.50 more.

How can I lower my premiums?

The higher your deductible, the amount you pay out of pocket before coverage kicks in, the lower your premium. Land-ing on the appropriate deductible level requires remembering that insurance should cover major calamities, not minor incidents, says Foley, the in-dependent insurance broker. Most hom-eowners should be able to absorb modest losses like a broken window pane or a (continued on page 6)

Homeowners Insurance: Time for an Annual Check-Up

Image: Owens Corning

Image: Towne Properties

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JANEDICK

(continued from page 5)hole in the drywall without filing claims. If you can, then you’re wasting money with a $250 deductible.

Foley’s rule: If you’re a first-time hom-eowner and don’t have a lot of savings, moving up to a $500 deductible willprobably stretch your budget. However, if you live in a ritzy home and drive an expensive car, then you should be able to afford a $1,000 deductible. In Milltown, N.J., for example, the premium for a $200,000 home with a $500 deductible would be $736, according to Foley; mov-ing up to a $1,000 deductible drops the annual premium to $672. That’s $64 in savings. Every major insurer offers discounts to various groups, such as university em-ployees or firefighters. Figure about 5%. Ask which affiliations would entitle you to a discount and how much. If an AARP membership would result in a $50 savings, pay the $16 dues and pock-et the $36 difference. Many insurers also offer discounts ranging from 1% to 10% or more for installing protective devices like alarms and deadbolt locks, for going claim-free for an extended period, or for insuring both your car and your home with the same carrier.

G.M. Filisko is an attorney and award-winning writer who has been involved in insurance litigation. A frequent con-tributor to many national publications including Consumers Digest, Bankrate.com, REALTOR(R) Magazine, and the American Bar Association Journal, she specializes in real estate, personal fi-nance, and legal topics.

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Homeowners Insurance: Time for an Annual Check-Up

Article From HouseLogic.com

By: Pat CurryPublished: November 18, 2009

Before you plug in and light up for the holidays, run your decorations through this quick safety check.

Lights, inside and out, are a beautiful part of the holiday season. But as with all electrical devices, you need to take special precautions. Before you deck the halls, run through this checklist to keep your holidays merry and bright.

Inspect light strings. Discard any that are damaged. Frayed or cracked electri-cal cords or broken sockets are leading fire hazards.

Follow the manufacturer’s in-structions for connecting multiple strings. The general limit is three strings. Light strings with stacked plugs can usu-ally accommodate greater lengths than end-to-end connections.

Replace burned-out bulbs promptly.

Empty sockets can cause the entire string to overheat.

Make sure outdoor lighting is UL-rated for exterior use. Exterior lights, unlike those used inside the house, need to be weather-resistant. The same goes for any extension cords used outdoors.

Don’t use outdoor lights indoors. They’re too hot for interior use. For the coolest bulbs and greatest energy efficien-cy, try LED lights, which come in a wide range of styles and colors.

Don’t attach light strings with nails or staples. They can cut through the wire insulation and create a fire hazard. Only use UL-approved hangers.

Take exterior lights down within 90 days. The longer they stay up, the more likely they are to suffer damage from weather and critters chewing on them.

Store lights safely. Tangled lights can lead to damaged cords and broken sock-ets. After the holidays, coil each string loosely around a stiff piece of cardboard, wrap it in paper or fabric to protect the bulbs, and store in a sturdy container until next year.

Pat Curry is a former senior editor at BUILDER, the official magazine of the National Association of Home Builders, and a frequent contributor to real estate and home-building publications.

Holiday Lighting Checklist

Image: Inti St. Clair/Photodisc/Getty Images

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Lubbock Job Growth Makes U.S.-Best List

Lubbock AJ 11/17/09 - Lubbock was one of nine Texas cities to rank in the top 30 in an annual survey of job growth and performance. The Hub City ranked 29th on the Milken Insti-tute’s list of 200 Best Performing cities.

The rankings are based on a combination of five-year and one-year job- and wage-growth numbers with an emphasis on high-tech positions. The Austin-Round Rock metropolitan area topped the list, followed by Killeen-Temple-Fort Hood.

According to the statistical breakdown, Lubbock’s job growth between March 2008 and March 2009 was fifth best in the nation, and its 2007-08 job growth ranked 11th best. The Lubbock metropol-itan area, which includes Crosby County, ranked 60th in wage and salary growth between 2006 and 2007 “With local businesses still hiring, low unemployment rates and the stabilizers we have in our economy - education, health care, diver-sified business community - we have held our own,” said Terri Patterson, director of workforce development with the Lub-bock Economic Development Alliance.

Lubbock County’s workforce has grown over the last year by 6,800 people with a 1 percent increase in the unemployment rate.

Keller Williams Realty Wins Service Award Again

AUSTIN, TEXAS (September 2, 2009) - According to the J.D. Power and Associates 2009 Home Buyer/Seller Study SM, Keller Williams Realty, Inc., the third largest real estate company in North Amer-ica, received the highest overall sat-isfaction ratings from home buyers among the largest full service real es-tate firms for the second year in a row.

The company also ranked second-highest among home sellers in the study. “We couldn’t be prouder. This is an achievement our associates have truly earned. It is the face-to-faceinteraction and the relationships they build daily that has impacted this study and el-

Holiday HappeningsTis the Season for Lights Exterior lights are expected this time of season. If you’re list-ing your house this winter, consider lights to increase the value of your home. Less is more when it comes to decorating for Christmas. White lights are better than colored bulbs, as you always want to remain neutral.

A Warm and Cozy Home Open houses in the holidays are always a place to boil a pot of cider with cinnamon. Keep the temperature warm when it is cold outside. The last thing you want is a potential buyer reaching for their coat.

Size Always Matters Christmas trees are notorious for taking up too much space and creating a cramped space in a house on the market. Keep your decorating to a minimum with themed ornaments instead of the 200 homemade bells and horses you’ve collected over the last 35 years. Small trees will make your home look bigger this season.

Think Market Presence, Not Christmas Presents Make sure to keep the endless boxes in a back room and not spread out on the living room floor. Too many presents create unnecessary clutter. Besides, your buyers will not be opening any of them this year. The only present they want, is the empty one you’ll sell them at fair market value.

evated Keller Williams Realty to another level in customer service,” said Mark Willis, CEO of Keller Williams Realty.“Knowing that this study was conducted during the toughest times the market has seen shows that spirit and dedication can make an impact.” The study was produced by J.D. Power and Associates to mea-sure home buyers’ and sellers’ customer satisfaction. The results of the home-buying experience were determined by three factors including the agent, office and the package of additional services.

“I am absolutely beaming with pride that our agents have been honored in such a fantastic way,” said Mary Tennant, presi-dent and COO of Keller Williams Realty.

“We are lucky to be in business withsuch incredible business people, who have shown incredible resolve over the past two years. If there was a time to build their business, it is now.”

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ARE YOU CONSIDERINg A MOVEIN THE LUBBOCK AREA?

Visit my website and enjoy features such as:• PROPERTY SEARCH - more than 1500 homes!• COMMUNITY REPORTS - SCHOOL REPORTS• TIPS AND TRICKS• MORTGAGE CALCULATORS• REAL ESTATE NEWS

If you have real estate needs, go with the company you can trust. KELLER WILLIAMS REALTY received the highest overall satisfaction ratings from home buyers among the largest full service real estate firms for the second year in a row.

CAN BE FOUND AT

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4747 South Loop 289, Ste 110 Lubbock, TX 79424

806.577.5595 (cell)dougduncan@kw.com