Geoffrey Davis

Last week I mentioned that Julie and I have a home that has hit the 10-year mark-which means that it's officially no longer a "new" home by Frisco's standards. We're making some maintenance related repairs in addition to considering several updates. I solicited feedback a few weeks ago and have received some great responses that I wanted to share.

Jeff Cheney of Keller Williams has some advice, as well as suggesting home owners reference available online resources, to help them understand the potential rate of return on various improvements.

According to HGTV, five improvements deliver the best returns:

*102%: Minor Bathroom remodel which includes updating such things as replacing flooring, reglazing the tub, replacing fixtures/lighting and updating shower doors.
*100%: Landscaping
*98.5%: Minor Kitchen remodel, which includes refacing/refinishing existing cabinetry and updating things like appliances, countertops, sink/faucet and wall finishing
*95.5%: Exterior improvements, including paint, siding and updating an entry
*93.5%: Attic space to bedroom conversion

One may ask that if you can't get all your investment back, why bother to even make the updates? Similar to good home maintenance, buyers expect well priced homes not to need a ton of work. If the perception is that it will take hours to remove Aunt Nellie's wallpaper, replace the shag carpet and refinish cabinetry buyers will be looking for a pricing discount commiserate with the effort and cost of updates.

Cheney offers words of caution to homeowners around what kind of return you can expect for your neighborhood. "Homeowners should keep in mind any home that is over-improved in relation to the surrounding homes is unlikely to yield a high rate of return. It's important to note that if you have the most expensive home on the block, your investment will probably not return as much as the upgrading of a less expensive home nearby."

This is right in line with last week's article that discussed that highly specialized, and often costly, improvements will not always deliver a strong return. Instead, consider the price range and general features of homes in your neighborhood before making any significant updates. While you should certainly makes changes to fit your lifestyle and preferences, it's always a good practice to take a hard look at what percentage of the money spent on these modifications you would see should you ever have to sell.

Next week, we'll talk about what typically does give you the best return on investment and the rate of return you can generally expect.

Who here has a Twitter account? How often do you check who is following you? You might be surprised and a bit disgusted to see some of the folks who latch on to you. I don't know if it is a computer driving this or an individual, but once a week I find a rather- "shady account" following me. My note to you, check your Twitter followers from time to time and you may have to remove a few.

Frisco Cares Golf Classic, October 8th. Frisco Cares Children's Clinic was created in 2005 to address the growing healthcare needs of uninsured children in Frisco and surrounding communities. Frisco Cares is a low-cost health clinic for uninsured children, 18 and younger, living in or attending school in Frisco, Celina, Prosper, or Little Elm.

Julie and I have a home that has hit the 10-year mark. As many of you know, for whatever reason, homes begin to have issues and start to look a bit dated around that time. A few weeks back I solicited feedback from local realtors around what updates provide the most impact for resale purposes. While many of the changes we'd be looking to make wouldn't be done solely for resale, we always like to consider what would give us the best return as one never knows what may happen in the future.

Brian White of Coldwell Banker says, "Most people are aware that kitchens and baths impact value the most but also cost a lot of money." Instead, Brian recommends considering what you can comfortably do yourself to help control costs. Since labor is often a major component of kitchen and bath work, the more your willing to do (e.g., demolition, tile) the more you can save. He also suggests looking for things that have the most "space coverage" such as paint, new flooring or anything that will impact a substantial amount of visual space or square footage in your home.

Brian also offers words of wisdom to home owners on things that don't add value that one might think do, including:

*Highly specialized or taste specific items that would be highly valuable to a few but not to most home buyers. Brian's examples, which made me laugh, included things like fancy wallpaper, Australian Coastal sea shell sinks, rare Botswana bathroom tile or gold lame curtains from Micheal Jackson's wardrobe. While these might be highly valuable items to the current owners, they are likely to have no value for home buyers.

*Items such as new roofs, HVAC, hot water heaters (especially tankless), although completely necessary, are seen as maintenance items rather than things that increase the value of your home. Home buyers expect these to be present and in good condition on any well maintained home.

*Pools are also something that typically does not give a good return on investment. If home owners are lucky, they might get 50% back on what they spent. It also doesn't make your home worth more the way one might think. If there is a similar house down the street, with a better lot and no pool, they can get as much or more for their home because the lot is better.

Given Brian's advice, my take-aways are that home owners should consider the general appeal of any updates they make. This doesn't mean you should not make your house your own, but it's important to recognize that the more specialized, and personal, your updates are they more likely you are not to receive a good return on your investment or turn-off potential buyers should you have to sell.

Next week, we'll talk about what typically does give you the best return on investment and the rate of return you can generally expect.

The city of Frisco has been following a Hike & Bike Master Plan that was developed in 2002. In 2007, the Frisco Cycling Club (FCC) heard that the Master Plan was being amended and that there was a possibility that designated roadways might be eliminated. This was a major concern for members of the Frisco Cycling Club.

While researching the Master Plan, members of the Frisco Cycling Club found that the bike lanes provided in the plan were not cohesive or destination oriented. They did not allow for the establishment of logical bike routes of 5 mile, 10 mile etc. throughout the city and surrounding area. There was also a concern with the development of the Panther Creek roadway and the city recommendation to eliminate the designated street path.

This lead to members of the Frisco Cycling Club attending the City Council meeting that had this item on the agenda. During that meeting the FCC agreed with the city on the issue of the street path on Panther Creek because it would not have segued into a roadway due to the right of way access that was available. Also at that meeting, George Purefoy, City Manager of Frisco, asked city staff to include members of the Frisco Cycling Club as advisors on the re-working of the 2002 Hike & Bike Master Plan.

Members of the FCC developed a comprehensive plan for the establishment of bike routes throughout the city and submitted it to the Parks and Recreation Department. Subsequently, they worked with the Parks and Rec staff to refine the plan and submitted it to the Zoning Commission which approved it and sent it to the City Council. The Council also approved the final plan.

One component of the new plan is a 5 year implementation period. The first part of the plan to be implemented has been the 300 Share the Road signs that you see on the roadways today. The FCC members are very appreciative of the interest and quick action of the Parks & Rec staff and the members of the City Council for all they have done to make the signage a reality.

When asked about the effectiveness of the signs, Geoffrey Davis, President of the Frisco Cycling Club, asked members of the club if they felt safer with the signs. Jeanne Patterson answered: "The signs are a great way to remind motorists that cyclists have a right to be on the roads. Plus, with so many new people moving to Frisco, this is a great way to introduce the best roads for cycling to the many cyclists moving here." Matt Vonderahe replied: "Do I feel safer when riding? Absolutely. Those roads feel like sort of a safe zone where drivers and cyclists both receive a 'public service announcement' in the form of the signs. Sharing the road means just that and we as cyclists must hold up our end of the relationship and be courteous, safe and obey the laws." The note from Clint Richardson said, "Having the signs posted provides a visual reinforcement to the driving public of the rights of cyclists to use the roadways and a sense of legitimacy when cyclists are encountered by motorists on these roadways.

Frisco is a great city to live in but to also get involved with, city staff is eager to have opinions and help from the citizens. I am looking forward to the next 4 years of the implementation of the redesigned Hike and Bike master plan. It will be great to have the family all out for a ride soon!

The city of Frisco has been following a Hike & Bike Master Plan that was developed in 2002. In 2007, the Frisco Cycling Club (FCC) heard that the Master Plan was being amended and that there was a possibility that designated roadways might be eliminated. This was a major concern for members of the Frisco Cycling Club.

While researching the Master Plan, members of the Frisco Cycling Club found that the bike lanes provided in the plan were not cohesive or destination oriented. They did not allow for the establishment of logical bike routes of 5 mile, 10 mile etc. throughout the city and surrounding area. There was also a concern with the development of the Panther Creek roadway and the city recommendation to eliminate the designated street path.

This lead to members of the Frisco Cycling Club attending the City Council meeting that had this item on the agenda. During that meeting the FCC agreed with the city on the issue of the street path on Panther Creek because it would not have segued into a roadway due to the right of way access that was available. Also at that meeting, George Purefoy, City Manager of Frisco, asked city staff to include members of the Frisco Cycling Club as advisors on the re-working of the 2002 Hike & Bike Master Plan.

Members of the FCC developed a comprehensive plan for the establishment of bike routes throughout the city and submitted it to the Parks and Recreation Department. Subsequently, they worked with the Parks and Rec staff to refine the plan and submitted it to the Zoning Commission which approved it and sent it to the City Council. The Council also approved the final plan.

One component of the new plan is a 5 year implementation period. The first part of the plan to be implemented has been the 300 Share the Road signs that you see on the roadways today. The FCC members are very appreciative of the interest and quick action of the Parks & Rec staff and the members of the City Council for all they have done to make the signage a reality.

When asked about the effectiveness of the signs, Geoffrey Davis, President of the Frisco Cycling Club, asked members of the club if they felt safer with the signs. Jeanne Patterson answered: "The signs are a great way to remind motorists that cyclists have a right to be on the roads. Plus, with so many new people moving to Frisco, this is a great way to introduce the best roads for cycling to the many cyclists moving here." Matt Vonderahe replied: "Do I feel safer when riding? Absolutely. Those roads feel like sort of a safe zone where drivers and cyclists both receive a 'public service announcement' in the form of the signs. Sharing the road means just that and we as cyclists must hold up our end of the relationship and be courteous, safe and obey the laws." The note from Clint Richardson said, "Having the signs posted provides a visual reinforcement to the driving public of the rights of cyclists to use the roadways and a sense of legitimacy when cyclists are encountered by motorists on these roadways.

Frisco is a great city to live in but to also get involved with, city staff is eager to have opinions and help from the citizens. I am looking forward to the next 4 years of the implementation of the redesigned Hike and Bike master plan. It will be great to have the family all out for a ride soon!