Condo Crazed Houston
Peter Balcomb's Blog on Everything Condominium & More in Houston.
Monday, April 4, 2011
Wednesday, March 30, 2011
Super fun art sale and benefit for the Healing Art program! Coming in April! Check it out!
Super fun art sale and benefit for the Healing Art program! Coming in April! Check it out!
From time to time you'll find I like to post fun & interesting events that I hope my CondoCrazed readers will find interesting and worth checking out especially if it benefits a great cause! If you'd like me to mention an upcoming event/function just email me the details and I'd be happy to mention it in my blogs & on Twitter.
Here's one of them coming up in April.
MARTY
a Montrose Art Party benefitting the ALH Healing Art Program. Here's more of the details...
Opening Reception & Sale Friday, April 29, 2011
6:00 to 9:00 PM
Art League Houston is excited to invite the public to our 2011 Spring Sale + Benefit: Marty, a Montrose art party, Friday, April 29, from 6:00 - 9:00 PM. This event features an exciting selection of artwork for sale by ALH Healing Art students as well as ALH Studio School students in the main and project galleries.
Boogie along with the DJ's disco tunes while delighting in savory treats by Butter & Co., delicious desserts courtesy of Whole Foods, and tasty beverages from Saint Arnold Brewing Company. Entry to the benefit is free and open to the public.
The exhibition will be on view from April 29 to May 6. A portion of artwork and concession proceeds will help support Art League Houston's Healing Art program, which provides free art instruction and supplies to adults living with serious illness and physical disabilities. Please join us in supporting this unique and valuable program, while enjoying the opportunity to purchase amazing artwork by amazing artists at affordable prices!
About Art League Houston's Healing Art Program: In 1990, Art League Houston (ALH) founded its free Healing Art program for adults living with HIV+/AIDS. In 1995, ALH provided additional Healing Art classes to serve adults living with other severe illnesses including cancer, multiple sclerosis, fibromyalgia, and physical disabilities. The ALH Healing Art program is the only one of its kind for adults in Houston, outside of hospital or clinical settings. ALH Healing Art classes are offered free of charge. ALH teaching artists Kermit Eisenhut and Emily Sloan instruct Healing Art students in painting, collage, drawing, and mixed media. In addition, ALH provides Healing Art students with opportunities to exhibit and sell their art each year.
About the Art League School: Through the Art League School, ALH offers a wide array of affordable classes and workshops for adults taught by many of Houston's outstanding visual artists. The Art League School offers courses in oil, acrylic, and watercolor painting, classical portrait, figure, abstract, and landscape painting, drawing fundamentals, figure drawing, jewelry making, printmaking, assemblage, and principles of design.
Art League Houston, located at 1953 Montrose, was founded in 1948 and incorporated as a non-profit organization in 1953. The mission of Art League Houston is to cultivate awareness, appreciation, and accessibility of contemporary visual art. It fulfills its mission through exhibitions, the Art League School, the Texas Artist of the Year program, and outreach programming which includes a drawing lab for high school students, residencies in Houston I.S.D. schools, workshops for families, winter and summer art camps for youth, and its Healing Art program for adults living with illness and disability.
Art League Houston wishes to thank its many generous donors for their support.
For more information on this event, it's organizers contact them directly at:
They're located in the Heart of Montrose.
Art League Houston
1953 Montrose Blvd
Houston, TX 77006 www.artleaguehouston.org
info@artleaguehouston.org
P 713-523-9530
F 713-523-405399
Monday, February 21, 2011
SMART CONDO UPGRADES
Conventional wisdom holds that you can never go wrong in adding upgrades to your condo, but not all upgrades are created equal. Will a top-of-the-line kitchen bring in more at closing than a luxury bathroom? Is it better to replace that worn shag with brand-new carpeting or polished hardwood? Which condo upgrades or renovations will pay off the most?
The specific answer depends on a variety of factors, including the location of your condo, the value of other condos in the neighborhood and the rate at which property values are changing, along with your own willingness to invest money in upgrades. It’s also important to consider the overall condition of your condo: Buyers won’t care about a spa bathroom with real Italian marble if the rest of the condo is in disrepair. Make sure your condo is in good shape overall before adding any improvements.
Your choices also may be limited by the restrictions placed on your condo building. Before you consider any upgrades, it’s important to read your condominium rules and bylaws carefully and check with your condo association about which upgrades are and are not allowed. Certain renovations may be prohibited, so it’s important that you understand your obligations and responsibilities as a condo owner before beginning any projects.
Keep in mind that not all improvements will greatly increase the resale value of your condo, since some upgrades add luxury without increasing worth. Above all, buyers want a home that has no deferred maintenance, newer appliances, modern conveniences and is ready to occupy. While there’s no hard and fast rule for which upgrades are best, there are some general guidelines that can help you decide which improvements may deliver the most bang for your buck.
MAJOR RENOVATIONS
Every year, the National Association of Realtors and Remodeling Magazine publish the Cost vs. Value Report (http://www.costvsvalue.com/) which features various home project costs and returns, broken down by regions and cities, and can give you a better idea of values in your area.
Kitchens
The kitchen has always been the heart of the home, so if you’re considering any improvements at all, look to the kitchen. A kitchen remodel generally returns more than 90 percent of its costs, making it one of the most valuable condo improvements. According to the Cost vs. Value Report, major high-end kitchen remodels don't return quite as much as the mid-range or minor kitchen remodels. Most buyers won't pay extra for a built-in Sub Zero refrigerator, imported tile or designer faucets when quality mid-range kitchen features will do. If you’re redesigning your kitchen, keep function in mind. Home buyers often look for a proper L-shape, U-shape or triangular work space.
Appliances & Cabinets
Appliances and cabinets are typically the most expensive items to replace in a kitchen, but they’re usually worth it. New appliances are a huge selling point for buyers. If your kitchen is outdated, invest in a new cooktop, stove or refrigerator. Studies show that sellers usually recoup nearly every penny they spend on appliances.
If your cabinets are in good shape and are painted, add a fresh coat of paint and new hardware.
But if your cabinets have seen better days, they’ll need to be fixed or replaced. If you can’t afford new cabinets, just get new doors and drawer fronts. Then paint everything to match and add new hardware. Resurfacing, which involves attaching a thin veneer to the surface of the cabinets and replacing the doors and hardware, is another good option.
Counter tops, sinks & faucets
Updated counters, newer faucets and sparkling sinks sell. Granite, marble, solid surface, concrete and stainless steel counters are a nice addition, if your budget allows. There are also plenty of less expensive options, such as engineered stone, ceramic tile, soapstone, wood or butcher block and laminates. Buyers don't want leaky faucets or stained sinks.
Bathrooms
The average recouped cost is more than 80 percent for bathrooms in condos. Stylish upgrades can make your condo a competitive option on the market. Consider new countertops, sinks and faucets, contemporary flooring, ample cabinetry, and room-enhancing light fixtures. If you’re not planning a total bathroom re-do, porcelain coating sprayed over old tile can freshen up a dull bathroom considerably, as can switching out old fixtures and hardware, repairing or replacing tile and giving the room a coating of good primer and enamel paint.
SMALLER CHANGES
Flooring
Hardwood Floors
Wood floors are a hot item today and an attractive feature to buyers. If your floor needs to be replaced, consider installing real hardwood, if your budget allows it, or a plastic laminate or engineered hardwood alternative, which are less expensive. If your home has hardwood floors hidden beneath carpeting, it would pay to have the carpeting removed and the floors refinished. And if your existing hardwood is damaged, it would likely pay to have it repaired.
Carpeting
Dingy or worn carpeting can be a turnoff for buyers. If the problem can’t be fixed by a good carpet cleaning, replacement is probably your best bet. If your sub-floor is plywood, replace the carpeting with light tan. Neutral carpeting is your best bet for resale, so resist the urge to put your favorite color wall-to-wall.
Ceramic
Replace chipped or cracked tiles, and clean or replace the grout. Total replacement can be pricey, so you may want to consider repairing tiles or installing an alternative flooring material.
Ceilings & Walls
Painting
Buyers spend more time than you would think staring at ceilings. They’re looking for signs of a leaky roof, so you don't want them to see stains or cracks. Ditto for walls. Nothing says freshness like new paint. It’s one of the least expensive ways to make your home more attractive, and it’s also one of the easiest. Use fiberglass tape on large cracks, cover with joint compound and sand. Paint a neutral color such as light tan – think of coffee with cream. Avoid bold or unusual colors. Buyers won’t be interested in your condo if they know they’ll need to do all the work to paint over your Barbie-doll pink bathroom.
Textured ceilings
Older popcorn ceilings with the "sparkles" often contain asbestos and can be health hazards if disturbed. Say goodbye to it. Even recently sprayed ceilings turn off buyers. It's not expensive, but it is time consuming to remove. Lay down drop cloths and scrape it off. You will need to repaint.
Wallpaper
Buyers don’t hate all wallpaper; they just hate your wallpaper. It’s your personal choice, not theirs, so get rid of it – especially if it’s dated. The easiest way is to steam it off by using an inexpensive wallpaper remover steamer. Then paint the walls a creamy neutral.
Storage
Storage sells homes. It is the first thing that people look at, besides the kitchen and bathroom. Add storage whenever possible. Built-ins are an especially attractive addition.
MORE RESOURCES
Cost vs. Value Report:
http://www.costvsvalue.com/
Remodeling cost calculators:
http://www.contractors.com/h/info/resources.html
http://www.costestimator.com/hgtvkitchen/index.jsp
IT'S ALMOST TAX TIME AGAIN
TAX TIPS FOR HOMEOWNERS
Let Your Real Estate Holdings Give You Leverage
~
MORTGAGE INTEREST
You can deduct the interest you paid during the year.
CAPITAL IMPROVEMENTS
The cost of major improvements can be deducted from the taxable gain when you sell your home.
CAPITAL GAINS
If you sold your home last year, you can exempt the first $250,000 of profit ($500,000 for married taxpayers filing a joint return).
REPAIRS TO RENTAL PROPERTY
General repairs may qualify as deductions in the year they are paid for. Also be sure to keep track of major improvements as they are deductible when you sell or through depreciation.
MOVING EXPENSES:
If you moved because of change in your new Employer's location, or because you started a new job, you may be able to deduct some of your moving expenses.
POINTS
Points paid at the time of a purchase are fully deductible in that year. The points you pay when you refinance are deductible over the life of the loan, and any remaining unamortized points from the previous loan are able to be written off in that year.
*Please verify all information & questions with your tax preparer.
Let Your Real Estate Holdings Give You Leverage
~
MORTGAGE INTEREST
You can deduct the interest you paid during the year.
CAPITAL IMPROVEMENTS
The cost of major improvements can be deducted from the taxable gain when you sell your home.
CAPITAL GAINS
If you sold your home last year, you can exempt the first $250,000 of profit ($500,000 for married taxpayers filing a joint return).
REPAIRS TO RENTAL PROPERTY
General repairs may qualify as deductions in the year they are paid for. Also be sure to keep track of major improvements as they are deductible when you sell or through depreciation.
MOVING EXPENSES:
If you moved because of change in your new Employer's location, or because you started a new job, you may be able to deduct some of your moving expenses.
POINTS
Points paid at the time of a purchase are fully deductible in that year. The points you pay when you refinance are deductible over the life of the loan, and any remaining unamortized points from the previous loan are able to be written off in that year.
*Please verify all information & questions with your tax preparer.
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