my husband and i have been in our lakewood glen home for 20 years... we are looking at staying for maybe 3-5

Asked by Julie Sims, Cypress, CA Wed Aug 13, 2008

years depending on the independecy of our college age kids...at this point i think we can list at maybe 50,000 more than we paid and we need to put some money into updates and improvements... do you think it is possible for this market to change at a certain period of time based on the growth and trends of the market????

Help the community by answering this question:

+ web reference
Web reference:

Answers

7
Tish Otten, Agent, Spring, TX
Wed Dec 23, 2009
Hi Julie,
Appears you're looking for some info without strings attached. I'll throw in my opinion and you decide if it's a bargain. Lakewood Glen is a great area, feeds into three very good Cy-Fair schools. Negatives include the new builds in the area and the area is exploding.

Buyers in your price range have a choice. Buy a 20 year old home and get a great community, larger lots, mature trees, quick access to transportation arteries (290 and 249) and in 10 years, sell a 30 year old home. Alternatively, they can buy a newer build that will be 10-15 years old at that same future date. It's the old discount factor . . .you have to discount for the age.

To circumvent that, plan your up-dates carefully. Focus first on going green; double pane windows; tankless water heaters; insulation; energy efficient heating and possibly add zone cooling if you only have one AC. If that's not something you want to do, then second, make the yard an entertainment area for kids and family by adding covered decking, tranquility zones/water features, out-door kitchens, back yard bed-room. Last on my list of suggestions would be interior enhancements. Without reservation, if you have a wet bar, remove it, but for other cosmetic changes, granite, paint, window treatments, visit model homes in your area and/or interview some interior designers. Soon as you put in dark granite, the buyer wanted light. Tiled back splash vs subway tile vs colored glass can attract a potential buyer but just as easily turn one off.

Growth and trends of the market will definitely impact the value of homes in the Lakewood Glen/Lakewood Forest area. Greening your current property, creating additional living space via the back yard will keep it competitive with the new growth/new builds that is your competition, but I'd be lying if I said you'd get dollar out for dollar in on those improvements. I'd suggest 85% and less on interior enhancements. Keep in mind; don't make a silk purse of a sow's ear. A $300K buyer doesn't want to live next door to a house that's worth $140K because that owner didn't up-grade, they just sold as is, even if their purchase is really worth $350K.

It's a blessing and a curse that homes in our area don't drop like a rock with each market glitch, but they don't sky-rocket either. Plan wisely, shop your competition and make sure you work with a realtor that tells you the truth, not just what you want to hear.
1 vote
Cindy Boutwe…, Agent, Spring, TX
Fri Jun 22, 2012
Hi Julie- I am a Lakewood Glen resident and my husband, Dan Boutwell and I have sold many homes in our community this past year. Most of them needed some updates and we were able to help them with the most current and sought after updates. We have painters, great granite and flooring folks. Our homes are all customs, we are zoned to outstanding schools and have trees and low taxes. Buyers love this area! We advertise in the community newsletter and would be happy to come by and give you some home selling tips. We are on April Mist Ct.
0 votes
Cathy Kinney, Agent, Cedar Park, TX
Tue Nov 16, 2010
Dear Julie,
I also live in your area and have owned my home for 30 years. I am also a Realtor for the last 24 years and would advise any of my clients that are thinking of listing their homes to have a Realtor over to tell you how to get the most bang for your buck and what updates that will be necessary for you to sell in your neighborhood.
Remember that buying and selling is a balancing act-you may make less on your sale now, but you will also be able to get a better deal on the buying side. i would be happy to help you with your decisions.
sincerely,
Cathy Kinney
Remax Suburban Northwest
0 votes
Chris Cerda-…, Agent, Houston, TX
Wed Sep 23, 2009
Julie,

There are 5 essential ingredients that comprise the formula for a successful sale of your home: Location, Condition, Market, Terms, and Price. Your home will sell at highest profit and in the quickest amount of time when all the ingredients are combined perfectly. If only one ingredient is left out of the formula, or is out of proportion to the others your home will take longer to sell and will, quite possibly cost you money.
0 votes
Ken Hunter, Agent, Spring, TX
Tue Sep 22, 2009
Julie - As your former neighbor, I would be glad to help you answer this question. My family and I lived in Lakewood Glen for 11 years at the corner of Golden Valley and Autumn Valley. If you'll call me, I'd love the opportunity to help you.

Ken Hunter, Realtor
Prudential Gary Greene Realtors
Cypress, Champions & The Woodlands
Ken@KenHunterRealtor.com
832-515-9951
0 votes
Margaret T.…, Agent, Conroe, TX
Wed Aug 13, 2008
Julie,
You are in a great area that will hold its value and continue on its upward trend,. Yes you will need to update. Please except for counter tops keep to neutral colors.Also some times it is good to take a good long look at the yard. A mature yard is good but sometimes too mature is not if you know what I mean. Some shrubs get too big. I have some pointers for sellers that you can send for on my Web site and you have a few years to ready your self. Great Idea , you will have your house ready for your Realtor when the time comes, and you will have more money to enjoy your empty nest.
Margaret
0 votes
Juan Carlos, , 77095
Wed Aug 13, 2008
Hi Julie,

This is a great question. No doubt the market will change for the better. We have reached "bottom"; if you will. Change, however, will be slow, we will have no less than 5 years of a stable market and then start to grow slowly again. I will be glad to sit down with you and your husband and share a Market Analysis with you now and periodically (maybe every six monthsor so) so that you can have the pulse on the market and this will help you make a sound decision as to whether it is the right time to sell or not. We are not in a seller's maket right now. If you, however, are thinking about buying a house, this is the perfect time to do so. You might consider leasing your current house and purchasing a new house - just a thought. Hope this helps.
Feel free to contact me at your convenience.
0 votes
Search Advice
Search
Ask our community a question
Market Conditions in Nearby Locations

Email me when…

Learn more