Posts Tagged ‘Newsradio Wood 1300’

The belief that people want to Love Where They Live is the central theme for why our firm exists.  When I hear that phrase it’s like hearing a musician play the most perfect cord on his guitar.  When I just reread it I heard a harp this time.  It’s just right on – you and I want to love where we live – and it may mean something entirely different for you and for me, but it’s the same dream.

The good news is people are starting to take hold of that dream again.  A few weeks ago we shared a story from the GR Press that housing starts were up 159 percent over last year at this time.  A really cool note about that is so many of those new homes were for 1st time home buyers.  It’s very exciting to think back to the joy of walking into your first home for the first time.  This Spring existing home sales were up almost 30 percent in response to tax credit incentives.  Our phone has been ringing steadily for new projects too!

“According to a survey from American Express, 49 percent of homeowners are making improvements to their house.  Nineteen percent are making repairs that can’t be put off, while 11 percent want to increase home value, and 5 percent are fixing up to sell.”

The new activity is different though.  Projects have been focused on making practical changes to beautiful custom homes versus making homes glitzy.  Project design has also become very personal for our clients who want to fix up versus trade up.  The clients who feel “trapped” by the recent housing market are using our expertise to wait out the market and we’re advising them in these ways.

What NOT To Do:

1) Don’t over improve for the neighborhood. This is one of those universal real estate laws like, “Location, Location, Location!”

2) Please do not try to remodel to make up lost equity.

Very few types of projects give an immediate dollar for dollar return on investment and at the moment market pressures are holding that return down.

What To DO:

1) Remodel to help your home better fit your lifestyle.

2) Make sure your home is clean & well-maintained & well-landscaped.  These efforts give you the best return on your investment.  It also makes your home much more appealing to potential buyers whenever that time may be.  This is the elbow grease of remodeling.  Easy to do, easy to hire it done.  We can help you with a checklist of items to have done.  Also, many of our clients choose to experience our Maintenance-Free Home program.

3) Curb appeal – building on the previous point – is your house attractive from the curb?

4) Is your home missing amenities for your neighborhood?  Does everyone have a deck but you?  Does your home only have 1 full-bathroom?  Well, if your family would benefit from another bathroom today then adding a bathroom may make a lot of sense.  Do you have a mudroom?

5) His, Her & Kids Spaces – if your kids are already in high school then maybe it’s worth it to consider finishing the basement to keep those young adults as close as possible for these next few years before they’re off to college.  Also, most people have enough square footage in their homes, it just feels like they’re cramped because of poorly utilized space.  Repurposing existing space is the most high value design help we give our clients.  If everyone in a household has a space that reflects their unique needs, everyone’s happiness goes up.  That may mean a truly functional mudroom, home office, kitchen, master suite, or closet.  It’s sometimes just one pinched area of a house that can be addressed to make everyone’s enjoyment so much greater.

There you go, five considerations for a time like this.  Happy home improving!

Acknowledgments: I’d like to cite Brian J O’Connor / Detroit News Finance Editor whose story, “Home Fix-ups on the rise, but experts urge caution” was the take off point for this blog post and radio interview on West Michigan Morning News with Gary Allen & Steve Kelly on WOOD 1300.

Pat & Sandie Thompson, co-hosts of The Home Improvement Show with the Thompsons on NEWSRADIO WOOD 1300 are announcing the sale of their business. The purchaser is their son, Ben Thompson, General Manager of Thompson Remodeling, Inc and co-host of the Home Improvement Show with the Thompsons. The highly rated show has been running for the past three years. Thompson Remodeling, Inc is now a second-generation family-owned business, after 4 years of succession planning. The sale was effective January 1, 2008.

“As Founder of Thompson Remodeling I am very excited to see Ben take this company far beyond the vision I had for it 28 years ago when Sandie and I moved to Grand Rapids, and I strapped on my tool belt,” said Pat Thompson and then added, “Succession is a process. I am still here working directly with our clients and staff, under Ben’s leadership. The public announcement of the actual sale is cause for great celebration! I am so proud of Ben, he and this company have such a bright future.”

Pat will remain actively involved in the company as Sales Manager, working directly with his clients, as well as sitting on the Board of Directors, internal Board of Advisors, and will be involved for a few more years. Sandie retired from direct involvement in Thompson Remodeling at the end of 2003.

The Thompsons approached their succession process in the same way they approach a complex remodeling project. It was a high trust transaction that only happens a few times in a person’s life so pre-planning was essential, there were a lot of moving parts to manage, trusted key professional advisors were involved, and active communication weaved all the parties together throughout the ongoing process.

Aside from co-hosting the radio show, Sandie Thompson owns and operates Home Away From Home dba: Stonewood Company, LLC. She offers temporary housing solutions by leasing furnished and unfurnished executive rental homes for short-term, long-term, private, and corporate tenants. Sandie is a fantastic resource for insurance agents and adjusters, as well as HR managers who bring new executives, professionals, and researchers to Grand Rapids.