In an article by Phoebe Chongchua, The Wall Street Journal is reporting that “affordability” is the top reason for home buying in 2010.
The driving force for buyers has been getting a bargain but low home prices and low interest rates also comes into
WSJ is claiming that buying a home because they didn’t want to rent, was not the driving force. In the San Diego market among the clients we are seeing (Senior/Staff Engineers, Managers, etc) that there are plenty that are seizing low prices to buy and "pride of ownership" is the kicker.
Another influencer was the desire for more living space. According to the Wall Street Journal the survey reported that 28% of the respondents said, “they bought a house because they wanted more living space or a larger property”. However, 11% of those surveyed said that “potential financial growth” motivated them to purchase a home. In San Diego, this continues to hold true. Many of the moves are triggered because kids have grown up and need more room for play.
Real estate experts believe that buyers are still motivated by the potential financial growth, but indeed a good value in the form of low interest rate and discounted home prices is the driving force these days. So, if you are listing your home for sale, focus on value. Detailed marketing materials that showcase your home’s amenities, walking-distance retail outlets, and neighborhood parks and schools will also help create value.
Don’t underestimate the importance of valuable upgrades such as new appliances, water heater, solar panels, green technology, smart wiring for commonly used technology, and, of course, any energy-saving lighting and/or heating/air conditioning systems that you might have installed.
Light up your house as much as possible when showing or holding an open house. Even if you typically keep the shades drawn, open them up, turn on light fixtures and, if you have skylights, make sure they’re clean.
Value increases for buyers the more they can see themselves living in your home. So, make it cozy, comfortable, and attractive. In the bathrooms, hang color-coordinated towels; some fresh flowers in a vase. And if the walls are scuffed, try using a Magic Eraser. If that doesn't work, touch up the paint or paint the entire bathroom.
In the dining room or the kitchen, set the table. But don’t overdress the table. Too much stuff on a table makes it look crowded, small, and can be a turn-off.
Remember, selling your home is about creating value for buyers. That means how you live in your home may not be the way you show your home. You may have to put away a lot of the clutter such as trinkets, family photos, pet toys, electrical cords, kids’ toys, and anything else that is personal to you. By doing this you’ll create a greater chance of buyers viewing your home as theirs. And that's value.
Additional information: http://www.rashidrealty.com/pages/prepare_your_home_for_sale.pdf
Additional information: http://realtytimes.com/rtpages/20110121_homes.htm.
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Monday, January 31, 2011
Friday, January 21, 2011
Don’t Bet On Lower Housing Prices In 2011
If you were thinking of buying or selling a home and looked at the latest price data, you’d probably agree with what many experts are saying — prices will continue to drop in 2011. Although average house prices more than doubled from January 2000 to July 2006, they had plunged 33 percent from their peak by April 2009.
Because prices are still 39 percent higher than at the start of century, some analysts warn that they have further to fall. After briefly stabilizing and rebounding a bit, the latest data suggests that prices are falling once again.
The S&P/Case-Shiller Index is down three months in a row, and for the first time in nine months, is lower on a year-over-year basis.
Despite the deteriorating trend, don’t bet on housing prices to fall this year. The Case-Shiller Index has a two-month lag and the most recent report is for the month of October. Since that time, we’ve had a power-shifting midterm election, an extension of the Bush-era tax cuts, an arms treaty with Russia, and a possible trade agreement with South Korea. While there is good reason to assume that housing prices could fall further, there are also encouraging signs that prices might strengthen instead because of a growing economy.
On the negative side, delinquencies, foreclosures and inventories are still much too high. Furthermore, mortgage rates have jumped. This is particularly worrying because the rise in rates comes in spite of the Federal Reserve’s $600 billion effort to drive interest rates down. The Fed is using the money to purchase long-term Treasury bonds. In theory, the Fed’s effort should increase demand for Treasury bonds, raising their prices and reducing their yields. Because mortgage rates are tied to Treasury rates, they too should go lower. So far, however, things are not going according to plan.
Yet the rise in interest rates could actually be a sign that investors are growing more optimistic about the economy’s prospects. This means housing prices could strengthen even if interest rates go marginally higher — especially if potential buyers who have been sitting on the fence think they better buy now before rates rise further. The Fed has a dual mandate: price stability and full employment. Right now the Fed is focusing its efforts on the latter. This is good because in the current environment employment is affecting housing prices more than interest rates are. The Fed’s real intention is to prompt banks to lend more money to businesses. Once businesses invest those funds, jobs should follow.
There is some evidence that the Fed’s plan is working. Business loans held by U.S. banks had been falling ever since the financial crisis began in 2008. According to the St. Louis Fed, in October 2008, large U.S. banks had more than $800 billion of commercial and industrial loans on their books. Two years later, the balance had plunged to just $600 billion. However, business loans during the past two months have inched up to $612 billion. The gain isn’t enough to get anyone overly excited, but at least it is a move in the right direction.
In addition, there is encouraging news on the jobs front. Initial jobless claims fell to 388,000 for the week ending Dec. 25, down from 422,000 in the prior week. The improvement may simply be due to temporary hiring during the holiday season, yet it marks the first time since July 2008 that initial jobless claims dipped below the critical 400,000 level.
Finally, the National Association of Realtors said its Pending Home Sales Index jumped 3.5 percent from October to November. This index, which anticipates closings by a month or two, has been improving over the past five months, providing hope that buying activity is picking up.
This article originally appeared in The Fiscal Times.
Read more: http://www.businessinsider.com/dont-bet-on-lower-housing-prices-in-2011-2011-1#ixzz1AxlvBoyU
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Because prices are still 39 percent higher than at the start of century, some analysts warn that they have further to fall. After briefly stabilizing and rebounding a bit, the latest data suggests that prices are falling once again.
The S&P/Case-Shiller Index is down three months in a row, and for the first time in nine months, is lower on a year-over-year basis.
Despite the deteriorating trend, don’t bet on housing prices to fall this year. The Case-Shiller Index has a two-month lag and the most recent report is for the month of October. Since that time, we’ve had a power-shifting midterm election, an extension of the Bush-era tax cuts, an arms treaty with Russia, and a possible trade agreement with South Korea. While there is good reason to assume that housing prices could fall further, there are also encouraging signs that prices might strengthen instead because of a growing economy.
On the negative side, delinquencies, foreclosures and inventories are still much too high. Furthermore, mortgage rates have jumped. This is particularly worrying because the rise in rates comes in spite of the Federal Reserve’s $600 billion effort to drive interest rates down. The Fed is using the money to purchase long-term Treasury bonds. In theory, the Fed’s effort should increase demand for Treasury bonds, raising their prices and reducing their yields. Because mortgage rates are tied to Treasury rates, they too should go lower. So far, however, things are not going according to plan.
Yet the rise in interest rates could actually be a sign that investors are growing more optimistic about the economy’s prospects. This means housing prices could strengthen even if interest rates go marginally higher — especially if potential buyers who have been sitting on the fence think they better buy now before rates rise further. The Fed has a dual mandate: price stability and full employment. Right now the Fed is focusing its efforts on the latter. This is good because in the current environment employment is affecting housing prices more than interest rates are. The Fed’s real intention is to prompt banks to lend more money to businesses. Once businesses invest those funds, jobs should follow.
There is some evidence that the Fed’s plan is working. Business loans held by U.S. banks had been falling ever since the financial crisis began in 2008. According to the St. Louis Fed, in October 2008, large U.S. banks had more than $800 billion of commercial and industrial loans on their books. Two years later, the balance had plunged to just $600 billion. However, business loans during the past two months have inched up to $612 billion. The gain isn’t enough to get anyone overly excited, but at least it is a move in the right direction.
In addition, there is encouraging news on the jobs front. Initial jobless claims fell to 388,000 for the week ending Dec. 25, down from 422,000 in the prior week. The improvement may simply be due to temporary hiring during the holiday season, yet it marks the first time since July 2008 that initial jobless claims dipped below the critical 400,000 level.
Finally, the National Association of Realtors said its Pending Home Sales Index jumped 3.5 percent from October to November. This index, which anticipates closings by a month or two, has been improving over the past five months, providing hope that buying activity is picking up.
This article originally appeared in The Fiscal Times.
Read more: http://www.businessinsider.com/dont-bet-on-lower-housing-prices-in-2011-2011-1#ixzz1AxlvBoyU
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Monday, January 10, 2011
Housing Crisis or Opportunity?
Only History Will Tell
Historically, Real Estate Has Been a Solid, Long Term Investment
Looking at the last 40 years of real estate in California, we have seen very few times in which real estate values have dropped. In fact, according to the California Association of Realtors®, since 1970 the real estate market in California has only dropped seven times, six times under 3.7% and only once at 4.5%. On the contrary, our market has seen remarkable growth. In 1970 the median cost of a single-family home in California was $26,000. Today, 37 years later, homes have seen a 2,165% increase, now selling for $588,970.
Recent Years Have Shown Even Stronger Success According to the California Association of Realtors®, in 1990 the median price of a single family home in California was $194,952. Today, just 17 years later, that same single family home is selling for $588,970 – a 202% increase. Certainly in recent months we have seen a shift from a seller’s market to a buyer’s market, but that switch was necessary to continue a healthy flow of exchange amongst buyers and sellers. The bottom line is that our economy couldn’t maintain the double-digit increases we saw in home prices in 2003 and 2004 without seeing a shift. If we continued to see an upstream of that magnitude, we would nearly eliminate the first-time homebuyers which could potentially drastically hinder our economy. Shifts in our market are what keep our economy running smoothly.
Is Now the Time to Buy? Now may be the time to buy. Mortgage rates remain low (certainly by historical standards), prices have stabilized and there is a large selection of homes to choose from. Certainly it makes a more exciting news story for journalists to dwell on the negative, but for smart consumers, it is definitely more economically advantageous to seize opportunities as they present themselves. And this market may offer some tremendous opportunities. While no one can predict the future, if history is any indication, then real estate over the long run will continue to be a solid investment. And that’s good news for everyone – buyers, sellers and the real estate industry.
Graph: Median Median Home Price of Existing Detached Homes, California - 1990-July 07 - Source: California Association of Realtors.
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Historically, Real Estate Has Been a Solid, Long Term Investment
Looking at the last 40 years of real estate in California, we have seen very few times in which real estate values have dropped. In fact, according to the California Association of Realtors®, since 1970 the real estate market in California has only dropped seven times, six times under 3.7% and only once at 4.5%. On the contrary, our market has seen remarkable growth. In 1970 the median cost of a single-family home in California was $26,000. Today, 37 years later, homes have seen a 2,165% increase, now selling for $588,970.
Recent Years Have Shown Even Stronger Success According to the California Association of Realtors®, in 1990 the median price of a single family home in California was $194,952. Today, just 17 years later, that same single family home is selling for $588,970 – a 202% increase. Certainly in recent months we have seen a shift from a seller’s market to a buyer’s market, but that switch was necessary to continue a healthy flow of exchange amongst buyers and sellers. The bottom line is that our economy couldn’t maintain the double-digit increases we saw in home prices in 2003 and 2004 without seeing a shift. If we continued to see an upstream of that magnitude, we would nearly eliminate the first-time homebuyers which could potentially drastically hinder our economy. Shifts in our market are what keep our economy running smoothly.
Is Now the Time to Buy? Now may be the time to buy. Mortgage rates remain low (certainly by historical standards), prices have stabilized and there is a large selection of homes to choose from. Certainly it makes a more exciting news story for journalists to dwell on the negative, but for smart consumers, it is definitely more economically advantageous to seize opportunities as they present themselves. And this market may offer some tremendous opportunities. While no one can predict the future, if history is any indication, then real estate over the long run will continue to be a solid investment. And that’s good news for everyone – buyers, sellers and the real estate industry.
Graph: Median Median Home Price of Existing Detached Homes, California - 1990-July 07 - Source: California Association of Realtors.
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Tuesday, December 21, 2010
How 2011 Shapes Up
From Bloomberg Businessweek:
Historical data from the National Association of Realtors (and adjusted for inflation by Businessweek.com) show that in 18 of the 25 largest metro areas in the U.S., the value of homes purchased in 1990 had increased by 2010, often by double digits. And this in a year when real estate prices around the country have softened since their peak in 2006. These houses would have been worth even more a few years ago.
A national housing survey by Fannie Mae shows that in the third quarter this year, 66 percent of consumers believed buying a home is a safe investment, compared with 16 percent who believe stocks are safe. That does not mean confidence in real estate has not been shaken in recent years: In 2003, 83 percent considered a home a safe investment.
Fannie Mae's survey also showed that 59 percent of respondents still believe owning a home is a good way to build wealth, and 84 percent believe buying makes more sense than renting.
Assuming home prices continue to increase 1 percent to 2 percent better than inflation, a buyer needs to own the property for at least five years to break even and cover selling costs, says Sorrento Capital's Hebner.
According to the latest forecast by Moody's Economy.com and Fiserv, nominal home prices in the U.S. will decline 4.8 percent from the fourth quarter of 2010 to the third quarter of 2011, when they are forecast to reach their trough.
NAR estimates that in 2010, 4.8 million homes will be sold in the U.S.—less than the 5.2 million sold in 2000, which is regarded as a "normal" year, says Yun, as the market had not yet overheated.
As the market normalizes, Yun expects sales volume to rise 6 percent year-on-year in 2011—assuming GDP grows 1.9 percent, 1.5 million jobs are created (bringing the unemployment rate to about 9.5 percent), and mortgage rates stay near 5 percent. Markets with high foreclosure rates, such as Nevada, Arizona, and Florida, will remain volatile.
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Historical data from the National Association of Realtors (and adjusted for inflation by Businessweek.com) show that in 18 of the 25 largest metro areas in the U.S., the value of homes purchased in 1990 had increased by 2010, often by double digits. And this in a year when real estate prices around the country have softened since their peak in 2006. These houses would have been worth even more a few years ago.
A national housing survey by Fannie Mae shows that in the third quarter this year, 66 percent of consumers believed buying a home is a safe investment, compared with 16 percent who believe stocks are safe. That does not mean confidence in real estate has not been shaken in recent years: In 2003, 83 percent considered a home a safe investment.
Fannie Mae's survey also showed that 59 percent of respondents still believe owning a home is a good way to build wealth, and 84 percent believe buying makes more sense than renting.
Assuming home prices continue to increase 1 percent to 2 percent better than inflation, a buyer needs to own the property for at least five years to break even and cover selling costs, says Sorrento Capital's Hebner.
According to the latest forecast by Moody's Economy.com and Fiserv, nominal home prices in the U.S. will decline 4.8 percent from the fourth quarter of 2010 to the third quarter of 2011, when they are forecast to reach their trough.
NAR estimates that in 2010, 4.8 million homes will be sold in the U.S.—less than the 5.2 million sold in 2000, which is regarded as a "normal" year, says Yun, as the market had not yet overheated.
As the market normalizes, Yun expects sales volume to rise 6 percent year-on-year in 2011—assuming GDP grows 1.9 percent, 1.5 million jobs are created (bringing the unemployment rate to about 9.5 percent), and mortgage rates stay near 5 percent. Markets with high foreclosure rates, such as Nevada, Arizona, and Florida, will remain volatile.
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Thursday, November 18, 2010
Typical Escrow Closing costs for Buyers
First time buyers will often wonder how much their closing costs would amount to. Below is a typical breakdown of costs. In bank involved transactions, buyer also pays certain other costs that banks will not pay eg. First year Home Warranty coverage ($285-$355), third party disclosure source document ($123), etc. From a planning standpoint, we give a 0.7-1% rule of thumb depending on whether it is a short sale, foreclosure, or regular sale. The lender will also require an appraisal ($450) to ensure that the buyer is not overpaying and that the lien on the property is covered by the value of the property. Buyers also get a physical inspection done by a licensed inspector ($400) – just like getting a car checked out prior to purchase.
Offer Price: $525,000
Loan Amount: $417,000
Escrow Fee: $1037.50
Loan Tie-in: $250.00
(one) HOA fees: $150.00
Electronic Download: $200.00
Archival Fee: $24.50
Overnight Fee: $30.00
Title Insurance: $611.00
Endorsements: $200.00
Wire Fee: $25.00
Sub-escrow fee: $62.50
Notary Fee: $150.00
Recording Fee: $160.00
Total: $2900.50
Additional fees:
HOA plus tax proration
Lender’s closing costs calculated once escrow receives the loan docs
One month’s HOA dues for the buyer.
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Offer Price: $525,000
Loan Amount: $417,000
Escrow Fee: $1037.50
Loan Tie-in: $250.00
(one) HOA fees: $150.00
Electronic Download: $200.00
Archival Fee: $24.50
Overnight Fee: $30.00
Title Insurance: $611.00
Endorsements: $200.00
Wire Fee: $25.00
Sub-escrow fee: $62.50
Notary Fee: $150.00
Recording Fee: $160.00
Total: $2900.50
Additional fees:
HOA plus tax proration
Lender’s closing costs calculated once escrow receives the loan docs
One month’s HOA dues for the buyer.
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Wednesday, November 10, 2010
First Time Home Buyer Q&A
First Time Home Buyer Q&A
1. The description in one of the listing says - "LIGHT TLC NEEDED TO MAKE THIS HOME SHINE". Do you know what this means?
Answer: TLC = Tender Loving Care – it is a nice way of saying home needs cosmetic repairs
2. "Ownership - Fee Simple", "Ownership - PUD", "Possession - Close of escrow", "Corporate-owned. * * * AGENTS: READ CFR * * *" - What does these different terms indicate?
Answer: Ownership – Fee Simple: You own the lot and land – city/county typically owns the roads/driveways leading up to it.
Ownership – PUD – Planned Unit Development – you own the property but there is a shared interest in the common areas e.g. driveways, etc.
Agents: Read CFR - CFR = Confidential Remarks is an MLS communication field used for broker-to-broker communication that is not to be shared with the general public on the internet for security purpose e.g. showing information, gate codes, lock box codes, contact phone numbers, etc.
3. When the listing says - "Pets - Yes". Does this mean that the house has/had pets OR is it OK to have pets in the community for new owner?
Answer:
Pets – Yes – means rules and regulations of the community (aka CC&Rs) allows pets. Sometimes it will say Pets - Yes, with restrictions. This means that pets are allowed but may have size/weight restrictions to ensure that someone doesn't have a caged 150lb Siberian Tiger in their townhome and classify it as a pet.
4. One of the houses had this description- "...Its many upgrades include travertine, Berber carpet, custom paint, surround sound,..."? Do you know what travertine, or berber carpet is? What is vinyl flooring? And as far as pricing is concerned how is vinyl compared to hardwood, engineered wood, tile, or carpet flooring?
Answer:
Tiles: Travertine is a stone tile – in order of cost for tile flooring – Ceramic Tile < Travertine < Granite < Marble. Carpet: Different types of carpet: Berber, Plush, etc. Vinyl flooring – cheapest of all floor covering – this is a piece of plastic-type covering mostly used in bathrooms and kitchens. I will show you. Vinyl < Carpet < Tile (see tiles above) < Laminate < Engineered wood < Hardwood. There are so many different types of floor coverings that this order of cost is no set in stone. Cost of stone depends on where it is quarried from, how rare it is, etc. etc.
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
1. The description in one of the listing says - "LIGHT TLC NEEDED TO MAKE THIS HOME SHINE". Do you know what this means?
Answer: TLC = Tender Loving Care – it is a nice way of saying home needs cosmetic repairs
2. "Ownership - Fee Simple", "Ownership - PUD", "Possession - Close of escrow", "Corporate-owned. * * * AGENTS: READ CFR * * *" - What does these different terms indicate?
Answer: Ownership – Fee Simple: You own the lot and land – city/county typically owns the roads/driveways leading up to it.
Ownership – PUD – Planned Unit Development – you own the property but there is a shared interest in the common areas e.g. driveways, etc.
Agents: Read CFR - CFR = Confidential Remarks is an MLS communication field used for broker-to-broker communication that is not to be shared with the general public on the internet for security purpose e.g. showing information, gate codes, lock box codes, contact phone numbers, etc.
3. When the listing says - "Pets - Yes". Does this mean that the house has/had pets OR is it OK to have pets in the community for new owner?
Answer:
Pets – Yes – means rules and regulations of the community (aka CC&Rs) allows pets. Sometimes it will say Pets - Yes, with restrictions. This means that pets are allowed but may have size/weight restrictions to ensure that someone doesn't have a caged 150lb Siberian Tiger in their townhome and classify it as a pet.
4. One of the houses had this description- "...Its many upgrades include travertine, Berber carpet, custom paint, surround sound,..."? Do you know what travertine, or berber carpet is? What is vinyl flooring? And as far as pricing is concerned how is vinyl compared to hardwood, engineered wood, tile, or carpet flooring?
Answer:
Tiles: Travertine is a stone tile – in order of cost for tile flooring – Ceramic Tile < Travertine < Granite < Marble. Carpet: Different types of carpet: Berber, Plush, etc. Vinyl flooring – cheapest of all floor covering – this is a piece of plastic-type covering mostly used in bathrooms and kitchens. I will show you. Vinyl < Carpet < Tile (see tiles above) < Laminate < Engineered wood < Hardwood. There are so many different types of floor coverings that this order of cost is no set in stone. Cost of stone depends on where it is quarried from, how rare it is, etc. etc.
For Buying or Selling, You Need a Teacher that gives you straight answers. For more information on buying, selling, or renting out an income property in San Diego, please call Frank Rashid's cell phone at (858) 676-5250 or email him at rashid@rashidrealty.com. More to follow within the next couple of weeks.
Tuesday, November 2, 2010
What gives the best ROI when upgrading your home?
I know that one can find the answers to almost anything on the internet. But excess information can be overwhelming at times, especially when you don’t have a clearly defined idea of what you are looking for. I have attempted to narrow the information based on my experience and present to you the part that is of most value – the Return on Investment in Remodeling your home.
A lot of people will ask me: what type of work should we do that would increase the value of the property?
Obviously, you don’t want to spend money over-upgrading the home if the surrounding properties don’t have these features. It doesn’t make sense to develop an intricate front yard with marble water features and exquisite palm fronds if 80% of the neighborhood has a grassy lawn and a simpler layout. Your house should have good clean curb appeal on par with the community. If you are looking for a place to start, start with the granite in the kitchen, upgrade the appliances to be more energy efficient, make sure that the roof underlayment is up-to-date, the home has good coat of paint, and decent floor covering. Details such as crown molding, above average baseboards, add definition and character to the home. Get rid of all the junk, ensure that storage space is well organized. If the cars can’t pull into the garage, either you need to get rid of your accumulated “treasures” or it might be time to consider making a move into a large home.
The home should feel that there is good space to move around and stretch. This is not a function of how large the home is but how much stuff you have managed to gather in it. Even a 1br condo can feel spacious and a 4000sf home can feel cramped. It is just a function of how the lifestyle is organized.
Check the return on investment for the projects shown here and then you decide which remodeling project will best fit your lifestyle needs along with your financial goals. Email/Call me if you have more specific questions.
A lot of people will ask me: what type of work should we do that would increase the value of the property?
Obviously, you don’t want to spend money over-upgrading the home if the surrounding properties don’t have these features. It doesn’t make sense to develop an intricate front yard with marble water features and exquisite palm fronds if 80% of the neighborhood has a grassy lawn and a simpler layout. Your house should have good clean curb appeal on par with the community. If you are looking for a place to start, start with the granite in the kitchen, upgrade the appliances to be more energy efficient, make sure that the roof underlayment is up-to-date, the home has good coat of paint, and decent floor covering. Details such as crown molding, above average baseboards, add definition and character to the home. Get rid of all the junk, ensure that storage space is well organized. If the cars can’t pull into the garage, either you need to get rid of your accumulated “treasures” or it might be time to consider making a move into a large home.
The home should feel that there is good space to move around and stretch. This is not a function of how large the home is but how much stuff you have managed to gather in it. Even a 1br condo can feel spacious and a 4000sf home can feel cramped. It is just a function of how the lifestyle is organized.
Check the return on investment for the projects shown here and then you decide which remodeling project will best fit your lifestyle needs along with your financial goals. Email/Call me if you have more specific questions.
| Paint | 70% to 300% | Built-in washer dryer | 75% |
| New Flooring | 50% to 300% | Fireplace | 65% |
| Kitchen Renovation | 75% | Energy Efficiency Features | 30% |
| Bathroom Addition | 75% to 100% | Swimming Pool | 25% to 50% |
| Addition to Existing Home | 40% to 60% | Garage | 75 to 100% |
| Basement Development | 55% | New heating system | 45% |
| Patio or Deck | 50% | Central Air Conditioning | 50% |
| New windows | 30% | Underground sprinklers | 50% |
| New Exterior Siding | 65% | Landscape Improvements | 50% |
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