Galveston Texas Real Estate and Community News » General Real Estate Discussions

Interesting Information Concerning the Price of Kitchen Remodeling

jselig — Sat, 31 Jul 2010 12:30:34 +0000

Pricing Your Kitchen Remodel – 5 Factors to Keep in Mind

RISMEDIA, July 31, 2010—Homeowners who are looking to remodel their kitchen should keep the following factors—that can significantly affect the price of their remodel—in mind as they begin to make plans to upgrade their kitchen.

According to Kitchen Tune-Up, homeowners should pay attention the following five factors before they begin a renovation.

1. Wood species or cabinet covering material. The material that covers the cabinet will effect the overall pricing of a kitchen renovation, but not as much as you might think. A stainless steel clad cabinet will be the most expensive and a melamine (thin plastic laminate) surface will be the least costly. Cherry is usually about 7-10% more than oak, while hickory, oak and pine usually run very close in price. Unusual cabinet woods like alder, mahogany, fir, rift cut woods, redwood, teak, etc. will usually cost more than common oak or pine.

2. Kitchen layout. The layout of the kitchen and the cabinet configuration will largely affect the price of a remodel as well. For example, a lazy susan will cost more than a sink cabinet, a stack of drawers will be higher priced than a one drawer/two door base cabinet, a U-shaped kitchen costs more than an L-shape with an island and a wall oven/cooktop combination makes the kitchen cost about $1,000 more than a free standing range. Setting a budget to design within can often save homeowners many hours of re-design.

3. Cabinet door style. A door with many details will usually cost more than a simple door. If an arch is added to a square panel, homeowners can expect to pay more. A door with lots of grooves or molding generally cost more than a simple door and a full overlay door (door that covers almost the entire cabinet face) costs more than a traditional overlay door. Doors set inside the cabinet frame (called inset) cost more than doors that are mounted over the cabinet frame.

4. Type of cabinet finish. The type of cabinet finish you choose will vary the pricing of a kitchen remodel as well. Painted cabinets will run 10-15% more than a standard stain finish and glazes or layered finishes will run 7-15% more than a standard stain due to the extra labor.

5. Cabinet construction methods and materials. Don’t skimp in the area of cabinet construction in order to save money on your kitchen renovation as better construction methods make a kitchen durable. In fact, cabinet construction may be 60% of the entire cabinet cost.

See all Galveston real estate listings here.

Galveston Real Estate – Keller Williams Presents July’s “This Month in Real Estate”

jselig — Fri, 16 Jul 2010 11:28:47 +0000

Galveston real estate – Keller Williams Realty presents the July 2010 edition of ‘This Month in Real Estate”.

Click here to view the short video.

See all Galveston real estate listings here.

Economic News From Last Week

jselig — Mon, 05 Jul 2010 13:40:04 +0000

The following information was provided by Chris Nooney at Prime Lending:

INFO THAT HITS US WHERE WE LIVE Last Thursday pending home sales, a measure of contracts signed for existing homes, were reported off 30% in May compared to the prior month. This of course was simply the result of the end of the homebuyer tax credit, which required a signed contract by April 30. Common sense tells us many of those April contracts would have happened in May or even later if it weren’t for the pressure to qualify for the tax credit.

More good news on the price front, as the Case-Shiller home price index was UP 0.4% in April, seasonally-adjusted, and up a comfortable 3.8% versus a year ago. Case-Shiller tracks home prices in the 20 largest metro areas. This follows the prior week’s FHFA home price index, which was UP 0.8% for April for homes financed with conforming mortgages. Buyers take note.

Friday, the President signed into law a bill that extends the closing deadline for claiming the federal homebuyer tax credit to September 30. The National Association of Realtors estimated that up to 180,000 homebuyers in contract by April 30 could have missed the June 30 closing because of processing delays due to the huge volume of buyers seeking the tax credit.

Another Perspective on Last Week’s Housing Market News

jselig — Mon, 28 Jun 2010 22:20:28 +0000

Galveston real estate – The national housing news last week sounded bad, but Chris Nooney of Prime Lending provides another well reasoned perspective in his most recent Market Update:

>> Market Update

INFO THAT HITS US WHERE WE LIVE Last week May existing home sales came in UP 19.2% over a year ago. Nonetheless, after beating expectations three months in a row, monthly sales fell short of the gain expected, off 2.2%. But the months’ supply of existing homes dropped from 8.4 to 8.3 months, as inventory slid to 3.89 million homes. And the median price is rebounding, UP 2.7% over last year. Finally, the April FHFA home price index was UP 0.8% for homes financed with conforming mortgages.

May existing home sales came off as disappointing because experts predicted a sales gain after the homebuyer tax credit ended. We saw spikes in February, March and April in pending home sales, which track signed contracts. Clearly many of these have not yet closed so they can be counted as sales. Analysts now expect these gains to show up in June. There’s no question the tax credit encouraged people to buy earlier than they would have. But, overall, home prices, mortgage rates and inventory declines continue to be encouraging signs in the housing market.

May new home sales fared worse, dropping 32.7%, to a 300,000 annual rate. This was also seen as fallout from the end of the homebuyer tax credit. But April’s 446,000 annual rate indicates the real trend is probably in between, around 375,000, which some analysts feel is enough for builders to move the homes they’re starting. Builders can also take consolation in the fact that the new homes inventory is at 213,000, its lowest level in forty years.

Interest Rates Have Gone Lower – Now is a Good Time to Buy

jselig — Sun, 13 Jun 2010 15:40:21 +0000

According to Freddie Mac, mortgage interest rates wre lower this week. The average rate on a 30 year mortgage was only 4.72%, and the average rate on a 15 year mortgage was down to 4.17%.

Folks, these are very low interest rates. Plus prices are lower than they had been.

This makes this a good time to buy. Don’t forget, you can’ take advantgage of a buyer’s market if you don’t buy.

See all Galveston real estate listings here.

Galveston Real Estate and the Houston Economy

jselig — Thu, 11 Mar 2010 04:37:51 +0000

The recession easing in Houston could have a positive impact on the demand for Galveston real estate, especially the second home market.

Check out this Houston Business Journal article concerning the easing of the recession in Houston.

See all Galveston listings by clicking here.

James Selig Becomes Subject of Kinetic Knowledge Blog Post

admin — Mon, 15 Feb 2010 13:27:47 +0000

We were quite surprised to find the tables turned on James Selig as he became the subject of a blog post by Kinetic Knowledge Real Estate Blogsites.

This post was prompted by the recent article on James in the Council of Residential Specialists’ magazine, Residential Specialist.

You can read the post by clicking here.

You can view all Galveston real estate listings by clicking here.

Keller Williams Realty Presents “This Month in Real Estate”

jselig — Tue, 19 Jan 2010 11:00:28 +0000

Keller Williams Realty presents “This Month in Real Estate”for Janaury 2010.

Click here to see the video.

See all Galveston listings here.

Accredited Buyer’s Representative Manager

jselig — Wed, 16 Dec 2009 11:00:31 +0000

Accredited Buyer's Representative Manager

I received word yesterday that I have been awarded the ABRM real estate designation.

The ABRM real estate broker course was developed for managers, brokers and owners who wish to better incorporate buyer representation into their company’s service offerings. Designees have taken and passed both the ABR and ABRM course and provided documentation of past management experience.

I have had a buyer’s representative on my team for the past few years as a way to provide focues service to those looking to buy Galveston real estate.

Galveston Real Estate – Keller Williams Presents “This Month in Real Estate”

jselig — Tue, 15 Dec 2009 15:00:07 +0000

Galveston real estate – The December 2009 video installment of Keller Williams’ “This Month in Real Estate” can be reached clicking here.

Please be certain to let us know who is thinking about buying or selling real estate.