Buyers, particularly first-time homebuyers, get excited about the prospect of owning a home. Sellers get excited at the idea of moving on, especially if their home has been on the market for a while.

When you’re involved in a real estate transac-tion – on either side – it’s easy to get caught up in the excitement of the transaction and temporarily lose sight of details… like things that convey. But come closing time, buyers should know exactly what they’re get-ting, and sellers should know exactly what to leave behind.

It’s Probably In the ContraCt

In most cases, transactions involv-ing the resale of residential property in Texas will use the standard Texas Real Estate Commission’s One to

Four Family Residential Contract (Resale).

Paragraph 2 of this contract deals with the improvements, attachments, and accessories that stay with the property. One section of the para-graph deals specifically with exclu-sions, i.e. items which would other-wise be included with the sale.

Technically, real property includes anything permanently attached to the house or would cause significant dam-age to remove.

I saw thIs on the web

In some cases, specific items are called out in the MLS – for instance, you may see “gorgeous kitchen upgrades with stainless steel appli-ances.” Don’t be fooled. That doesn’t necessarily mean the appliances come with the house. The only thing that matters is what’s in the contract.

The information on the site could be outdated, incorrectly entered, or otherwise erroneous. Again, it’s only about what’s in the contract.

but what about … ?So, what are some common sticking

points? You’d be surprised: backyard

playscapes, storage sheds, curtains, blinds, and drapes – even shrubbery.

Recently, the Texas Real Estate Commission discussed another hot topic: mounted flat-screen televisions. They determined that a mounting bracket or system is usually consid-ered part of the home, but a TV is personal property (i.e. not part of the home).

someone who Can ask

Of course, everything is negotiable. If you’re buying a house, don’t be afraid to ask your Lubbock Realtor what comes along with it… if you want something included in the sale, like a mounted flat-screen TV, have your Lubbock Realtor negotiate for it.

If you’re selling, make sure you know what you’re responsible for leaving behind and what you can take with you.

A word of caution – sometimes negotiations don’t go your way. That’s the nature of the beast. But the aver-age sales price for a home in Lubbock is more than $137,000… and it’s probably not good business to derail a transaction of this size over some curtains.

For more tips on buying and selling, or to find a Lubbock Realtor, I invite you to visit LubbockRealtors.com.

Every market is different. Call a Lubbock REALTOR®.

Need help with your home buying or selling experience? Welcome to the Lubbock Association of Realtors web site – www.lubbockrealtors.com.

On the site you will find:• A detailed, real-time property

search to find your next home – prop-erties are instantly placed on Lub-bockRealtors.com from the Lubbock MLS (Multiple Listing Service)

• Lubbock Open House Listings• Home Buying and Selling Tips• A complete list of Lubbock Real-

tors• A directory of Lubbock mortgage

lenders, title companies, licensed home inspectors, home maintenance companies and more!

Visit the agent directory and con-tact a Lubbock Realtor to find out why now is a great time to buy or sell your home!

Does it stay or does it go? Put it in the contract!

KEARNEY

LocAL REAL EstAtE NEws – LubbocK AssociAtioN of REALtoRs

BY Ann Kearney, PresidentLubbock Association of REALTORS®

Visit Lubbock Realtors® online

This week’s Featured Home, sponsored by the West Texas Home Build-ers Association in cooperation with the Lubbock Avalanche-Journal, was designed and built by the team of Glover Construction.

This award-winning plan called the “Yellow Diamond” is an experience all in itself! As you cross the threshold of the graceful stone and brick gar-den home, you will feel the ambience created by the elegant, comfortable and inviting features. You will be amazed by the gracious living areas, two dining areas, two large covered patios, 18” tile floors, and tall ceilings.

Even the greatest of gourmet cooks would appreciate the design and function of this kitchen. Features include awe-inspiring woodwork, gran-ite countertops, spacious island, and the latest in stainless steel-look appliances.

The master suite incorporates the serenity of isolation with a door to the private side garden patio. The lavish master bath features marble vanities, dressing area and separate marble jetted tub and shower. The wrap-around closet offers abundant hanging storage, as well as two built-in dressers and a wall of shoe racks.

The two large bedrooms on the front of the home feature special ceilings and large walk-in closets. The hall bath has a beautiful tile floor, marble vanity, large linen storage, and a large framed mirror. Oil-rubbed bronze fixtures and hardware are seen through-out the house.

The utility room boasts a recessed area for the wash and dryer with a drain in the floor.

Outside, the lush, low-maintenance landscape completes the package and makes this garden home ready for your dreams to come true.

In this Featured Home, with more than 2,100 square feet and reasonably priced at only $210,000, the value shines through. Once you have experienced the beauty of this home, you will no doubt agree that the “Yellow Diamond” by Glover Construction is truly a gem without flaw!

You are invited to experience this home by visiting the Open House this weekend, Saturday and Sunday, from 1 to 5 p.m. Or call for a private showing. We know you’ll agree – “Lucky me, I live in Lubbock!”

Glover Construction has been building dream homes one at a time for more than 10 years. Their clients always remark on the company’s high standards, knowledge and attention to detail, all of which have made Glover Construction a success and well-respect-ed builder in the industry. The company is a proud member of the West Texas Home Builders Association and Texas Association of Home Builders.

For all your building needs, contact Terry Glover at (806) 632-8262 or Tera, Realtor at Lubbock Homes, at (806) 778-9515.

9825 VintonFeatured Floorplan – Glover ConstruCtion

In November, housing affordability remained near its highest level nation-wide for the seventh consecutive quarter as interest rates dipped below 5 percent for the first time since the series was first compiled nearly two decades ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

The HOI indicated that 72.1 percent of all new and existing homes sold in

the third quarter of 2010 were afford-able to families earning the national median income of $64,400. The index for the third quarter marked the sev-enth consecutive quarter that the index rose above 70 percent.

Indianapolis-Carmel, Ind., was the most affordable major housing market in the country, regaining the top rank-ing it held for nearly five years after being edged out by Syracuse, N.Y., last

quarter. In Indianapolis, 93.3 percent of all homes sold were affordable to house-holds earning the area’s median family income of $68,700.

Also near the top of the list of the most affordable major metro housing markets were Youngstown-Warren-Boardman, Ohio-Pa.; Grand Rapids-Wyoming, Mich.; and Dayton, Ohio, and Wichita, Kan.

New York-White Plains-Wayne, N.Y.-

N.J., continued to lead the nation as the least affordable major housing market. In New York, 22.6 percent of all homes sold were affordable to those earning the area’s median income of $65,600.

The other major metro areas near the bottom of the affordability scale in-cluded San Francisco; Bridgeport-Stam-ford-Norwalk, Conn.; Los Angeles-Long Beach-Glendale, Calif.; and Santa Ana-Anaheim-Irvine, Calif., respectively.

Housing remains highly affordable as interest rates dip to lowest rate in two decades