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The Gibbs Team

512-431-2403

Blog

February 20, 2015 By Mary Lynne Gibbs

10801 Spicewood Pkwy

10801 Spicewood Pkwy (MLS #9593013) – This is one you will surely not want to miss! Immaculate home GetMedia (4)nestled in the prestigious Balcones Village golf course community in the heart of Northwest Austin. This home is conveniently located near major roadways including 183, 620, Mopac Hwy, a friendly neighborhood H-E-B Plus and lots, lots more! In one of the most coveted school districts, kids will enjoy the exemplary Spicewood Elementary, Canyon Vista Middle School and Westwood High school.

This large home is perfect for entertaining and lounging. With spacious bedrooms, lots of windows and natural lighting, you will immediately feel cozy and ready to move in to this well-kept home.

Walk in to an impressive spiral staircase, high ceilings and open floor plan. The homeowner’s have put their TLC into this spotless, GetMedia (2)functional home. Offered at $589,950, this large four bedroom and three and a half bath home comes complete with a massive recreation living area, separate dining room, office/study, sizable living room, breakfast area and kitchen.

The master bedroom is suited for a king-sized bed, along with several more large pieces of furniture and the bathroom is absolutely magnificent! Featuring a sizeable shower area, the master bathroom contains his and her vanities, a spacious dressing area, walk-in closet and best of all – a massive garden tub meant for relaxing in after a long day. The other two bedrooms upstairs are roomy and comfortable. However, I imagine most residents falling asleep in the substantial recreation lounge after a night of fun and games.

GetMedia (6)

10801 Spicewood Pkwy boasts an eat-in kitchen with a small breakfast area overlooking the backyard pool, which is connected to the spacious living area that everyone will find assuredly gather in.

I saved the best for last! Beat the heat in this backyard paradise! It is truly an amazing outdoor retreat with a large suburban pool and shaded wood deck made for Texas-style entertaining. The covered patio area has space for several seating arrangements and for a dining area. Right off the back deck is a bonus grass area not viewed in the pictures where pets could roam freely or extra space for any homeowner’s landscaping desire. Located across from the half bath, a secret door will allow guests to dry off after a swim without crossing the breakfast area.

You will find this home to be in mint condition with a recently shingled composition roof just five years old. Also complete with two central heating/ air conditioning units, one replaced in 2009 and the other replaced in 2011. Both with 10 year warranties.

Built in 1992, tax records show a square footage of 3,204. However, this number was re-evaluated by an appraiser whose accurate measurements show it to be 3,333 square-feet.GetMedia (5)

Other features include an intercom system, owner-owned security system, solar panels, and a smoke detector. This area is known for its great golf course, swimming pools, restaurant/club house and tennis courts! In a well-kept, friendly, sought-after neighborhood – it doesn’t get any better than this folks! Its perfection.

If you are interested in 10801 Spicewood Pkwy or buying/selling real estate in the Austin area, please contact Mary Lynne Gibbs at 512.431.2403 or mgibbs1@gmail.com. It would be an honor to earn your business!

Filed Under: Blog

February 14, 2015 By Mary Lynne Gibbs

Remodeling By the Numbers

As spring gets closer and closer, now is a good time to start considering what home renovations you want to undertake! Remodeling can give you the added or different space you need now, but its important to carefully consider the resale value of any project you undertake and stick to a budget. The spring weather makes it a great time to begin. With the longer days and nice weather, contractors find more time and energy
to complete projects. Some remodels allow for a bigger payoff than your original investment, while others might be needed just to keep the resale price on par with the neighborhood.

My hope is this information will help you evaluate the potential payoff of your remodeling project, and can show you how to budget for it. Let this act as your guide for how much the top remodels can return in resale value, which style trends you want to go after and suggestions for tackling these projects.

Whatever remodeling project you take on, may it have a happy and high-value ending!

WHAT TO REMODEL

When you’re ready to nail down your plans (so to speak), here are suggestions from industry experts:

Kitchenremodel

Add usability with dual sinks and cooking stations. Add aesthetics with commercial-quality and stainless steel appliances, stone or stainless steel countertops and ceramic tile backsplashes. Add space with a breakfast nook or walk-in pantry. Add livability with a computer desk, mudroom or hobby area.

Bathroom

Add light with skylights and glass blocks without losing privacy. Add space with a walk-in dual shower, vaulted ceiling, recessed medicine cabinet or curved shower curtain rod. Add functionality with twin sinks or vanities. Add aesthetics with ceramic tile or stone flooring, stone countertops and heated towel bars and floors.

Siding

Remodeling the exterior is as much about maintenance as it is about curb appeal. Vinyl siding looks fresh and tidy year after year with minimal upkeep. With stucco siding, a new polymer covering can be sprayed or troweled onto a fiberglass mesh base.

Windowsremodel3

New windows will help you realize additional savings in monthly utility bills. Prospective buyers view windows as they do other structural items, so failing to update old ones can result in lower—or no—resale offers. Newer styles include seamless bent-glass corner windows, curved glass and casements with no center stile.

Maximize your remodeling dollars! According to Remodeling Magazine, the projects listed below were the top projects that added the greatest amount of resale value to a home.

Project Job Cost Resale Value % Cost Recovered
Bathroom Remodel: Midrange $12,918 $10,970 84.9%
Bathroom Remodel: Upscale $38,165 $29,529 77.4%
Minor Kitchen Remodel: Midrange $17,928 $15,278 85.2%
Major Kitchen   Remodel: Midrange $54,241 $43,603 80.4%
Major Kitchen Remodel: Upscale $107,973 $81,896 75.9%
Siding Replacement: Upscale $13,149 $11,573 88.0%
Siding Replacement: Midrange $9,134 $7,963 87.2%
Attic Bedroom Remodel: Midrange $44,073 $35,228 79.9%

BEFORE YOU BUDGET

➤ Imagine the new space and make sketches. It’s easier to plan something you can see.

➤ Explore. Talk to people who have done a similar renovation. Read books, magazines and Web sites, get onto renovation listservs, watch instructional videos. Take notes!

➤ Think ahead. Is the renovation intended to add value when you sell next year? Then pay special attention to assessing the value of the house and neighborhood. Add comfort or pleasure?

Accommodate a growing or shrinking household? If you plan to stay for at least 10 years, almost any renovation will be worth its cost.

 

THE BUDGET PROCESS

➤ Figure out how much money you have to spend on a remodel without straining other budgets.

➤ Figure your debt-to-income ratio. If you’re planning to borrow, you need to know whether you can handle the extra debt.

If you’re working with an architect, designer or contractor:

➤ Bring your drawings, budget and other figures to them for help with cost breakdowns.

If you’re going it alone, the following will be your responsibility:

➤ Estimate project costs for materials, labor, permit fees and so on.

➤ Create a timeline to help contractors plan the project and help you budget efficiently.

 

Construction Labor

Including subcontractors. Multiply wages by estimated hours for each worker.

(Remember payroll taxes and workers’ compensation insurance if you do the hiring.)

$___________
Contractor Fees

Fees charged by contractors and subcontractors, such as electricians.

$___________
Construction Materials

Lumber, nails, paint, wallpaper, insulation, flooring, tiles, plumbing fixtures, cabinets, countertops, heating and ventilation.

$___________
Tools and EquipmentAll tools purchased and rented for the project, from hammers to post- hole diggers. Also includes safety equipment such as goggles, hardhats, ear mufflers, etc. $___________
Permit Fees

Contact the city planning department. Contractors may handle this for you.

$___________
Decorative Add-ons

Window treatments, light fixtures, cabinet hardware, etc.

$___________
Repairs Due to Remodeling

Repairs needed resulting from there modeling, such as patching the wall after plumbing vents are moved or replanting lawn where equipment had been kept.

$___________
Cleanup

Trash bin rental, hauling fees, dumping fees, removal service.

$___________
SUBTOTAL $___________
Contingencies

Includes cost overruns as well as upgrades, changes, supply shortages, weather delays, miscommunication, etc. Budget up to 30% of subtotal.

$___________
Add Contingencies to Subtotal for TOTAL $___________

 

Filed Under: Blog

February 4, 2015 By Mary Lynne Gibbs

Less is more – de-cluttering our home, helped de-clutter our life!

For the past few months my husband, Marty and I have been getting rid of stuff, de-cluttering and organizing! Now that all three girls have left the nest – we have boxes of memorabilia, boxes of out of date papers from the old business, etc. At the beginning, we had more than we knew what to do with and how to start. Let me just tell you, that this has not been an easy task but well worth the effort. Getting rid of stuff doesn’t exactly come easy but we are learning, taking it step by step, and loving the results! So I thought I would share a few tips – maybe this will help you make the plunge into a happier clutter free life!

The Positives

  1. The less you have, the less there is to clean!
  2. Saves money! (we are now saving $235/ month on a storage unit we didn’t need)
  3. Makes everyday life simpler, especially when trying to find things.
  4. A more peaceful environment.
  5. Better use of our living space by having what we really need, not what we think we need.

Game plan

The first thing is to get on the same page as your spouse or significant other to make sure you have one! There is no way for two people to agree on what to get rid of, if they don’t have strict guidelines in place. Otherwise, you will have one person purging and the other one keeping the same things you are trying to purge. The last thing you want is to have to spend more time than you need or duplicate efforts. We used these as our guidelines for what we wanted to keep, get rid of, or donate:

Have a spot for everything, or get rid of it!

Bills, bags, books — each item needs its own space. If there isn’t a specific spot for an item on a shelf or in a basket somewhere, it will never be put away, and be left to sit out. Therefore, it’s got to go!

You only need one.

If you have two of something, consider when you will use it. If your answer is, 5 years from now on that one rainy day – purge it! This may not work for everything, but for stuff like scissors (how many pairs of scissors do you need?), Tupperware (there are only two of us now so not much), etc. Really dig deep and consider – when will I be using this in the future?

If you don’t use it or like it, purge it.

I finally realized I can’t salvage everything and if it’s not in use, it needs to go.

And so…

My house still gets messy, but with half the stuff, it takes much less time to pick up and put away. We are saving money on storage every month and are less overwhelmed when we walk in the house or trying to find something. Marty and I are determined to stay clutter free by not buying things we don’t need. Now that we know what we have, it is easier to say we don’t need things when shopping because we already have it! Don’t let things consume you and your living environment. I encourage you, my friends, to let home feel like home again and start your de-cluttering project. For us, it will always be important to keep evaluating and editing what we are accumulating to make sure we are not going backwards. “They say” for everything you bring into your home, at least one thing or two should go out the door.

Also, consider these alternatives to just throwing stuff away:

  1. Donate, donate, donate!
  2. With 3 award winning daughters, we had lot of trophies that they did not want anymore. Instead of just tossing them – take off the name plates from all the trophies and make one plaque. Consider donating the rest to a local high school. They recycle them by decorating and using them for speech and debate tournaments.
  3. Old books and DVD’s can be sold to Half Price books. You might not make a bunch of money, but hey, its money you didn’t have before!
  4. Make old T-shirts into quilts.
  5. Take a picture of all your awards/ accomplishments and make a scrapbook instead of keeping it in a book.
  6. And last but not least, we have been selling, selling, selling on our local Facebook swap page – “Lakeway Swap”! Great alternative to Craigslist. Takes a lot less time by simply uploading a mobile upload straight from your phone and posting a little bit about it. Before you know, it you will be addicted!

Happy Purging my friends!

Mary Lynne

The greatest compliment I could ever receive is a referral from you. Please let me know if your friends or family are looking to buy, sell or invest in real estate!

Filed Under: Blog

January 28, 2015 By Mary Lynne Gibbs

2015 Housing Forecast

Briarcliff.lakeviewThe Home Builder Association of Greater Austin recently presented the 2015 Housing Forecast that showed great news for the next few years! Always glad to hear good news!!

The information was gathered by 360° Real Estate Analytics and John Burns Real Estate Consulting – both of which are known for their expertise in economic analysis and the real estate industry. The information gave an overview of the U.S. economy, Austin’s economy and the many factors that directly relate to the housing industry.

One of the main points that I found interesting was that they pointed out that economic expansions after a significant recession normally last 3-9 years and that 2017 will mark the 8th year of our country’s economic recovery since the Great Recession of 2008. This data was useful when looking at their key assumptions for the housing forecast.

  • Assumption #1 – Mortgage rates on a 30-year fixed rate will remain low through 2018 with a rise to 4% in 2015 and up to 4.7% in 2018.
  • Assumption #2 – The U.S. will continue to have growth in the job market through 2016 with it slowing down in 2017-2018 (Hence, the reason for them pointing out that economies come back in 3-9 year intervals.)

Additionally, Austin had a 17% growth in builder’s active communities – the highest in the major Texas markets. Most of this is due to the rapid growth, 110+ people moving to our area every day and the lack of homes on the market.

Overall, U.S. home sales are expected to grow 6% in 2015 with a rise in mortgage payments of 4-10% each year through 2018. Payment increases will derive from rising mortgage rates and to price appreciation.

The rising payments is not surprising, as on average the national monthly mortgage payment rose 30% from July 2012 to December 2013. Austin was below average with only a 26% increase.

Unfortunately, first-time-home buyers account for only 31% of resale sales compared to a historical average of 40%. This could be due to high costs, people marrying later and many other factors.

However, as a whole, the future looks bright for the next few years with strong job growth and a healthy real estate industry – which means an overall advantageous economy for us all!

If you or someone you know would like to purchase real estate while the interest rates are still low or sell real estate while the Austin market is still great, please do not hesitate to contact Mary Lynne Gibbs at 512.431.2403 or austinluxurybroker@gmail.com. It would be an honor to earn your business!

Filed Under: Blog Tagged With: Austin Area Real Estate, Austin Economy, Austin Housing, Austin Housing Market, Austin Real Estate, Housing Forecast, Mortgage Rates, Texas Housing Market

January 21, 2015 By Mary Lynne Gibbs

500 Irma Drive

930A7159_60_61_fusedEnjoy the convenience of living in Central Austin with this charming 1104 square foot home nestled among large towering trees! Even though 500 Irma Drive has gone under contract within EIGHT short days! They are certainly willing to entertain back-up offers!

Just a short distance from Austin’s light rail system, 500 Irma Drive (MLS #1311137) sits on a quiet street in the middle of the Highland area and offers quality craftsmanship in a 1955 ranch-style residence with .246 of an acre.

This one-story, three-bedroom home features a spacious, fenced-in backyard with a covered deck that is perfect for entertaining family and friends. The large space 930A7153_4_5_fusedwelcomes a plethora of outdoor activities and entertaining, along with a storage building for all of your lawn maintenance equipment.

500 Irma Drive has a large living area that is open to a breakfast area and leads into a galley-type kitchen which features a dishwasher, free-standing range, vented exhaust fan and plenty of cabinets for storage.

Nicely finished with ceiling fans in all three bedrooms, 500 Irma Drive has a bathroom that includes a handicap-friendly, wa930A7132_3_4_fusedlk-in shower with handrails and modifications for a wheelchair.

Other features include a large driveway for extra parking, a covered carport to keep automobiles out of the elements and a one-sided sandstone finish.

Offered at $300,000, residents of 500 Irma Drive attend Reilly Elementary, Lamar Middle School and McCallum High School, which is Austin’s only Fine Arts Academy!

Filed Under: Blog Tagged With: 500 Irma Drive, Central Austin Living, Central Austin Real Estate, Handicap friendly bathroom, McCallum High School

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