5 Inexpensive Home Updates to Complete before Listing Your Home

March 22, 2013 by

5 Inexpensive Home Updates to Complete before Listing Your Home

 There is no perfect formula for selling your home efficiently, but by following these five tips prior to listing you can increase your chances to close quickly at a higher price.

1.) Update your old garage door(s). Garage doors seem like a non-issue, but many times they make up a significant percentage of the front of a home. Because of this, they are one of the first things that buyers notice when they pull in the drive way. Replacing, or even just painting, these central fixtures will do wonders when it comes to instantly impressing perspective buyers and standing apart from your competition. The market has changed drastically since many of us purchased our homes here in town. I frequently hear buyers say that they have taken a house off their list because of the lack of curb appeal. This issue is especially important to people on busier streets, corner lots, or near a neighborhood eyesore. If you’re planning to upgrade your residential garage door and looking for good garage door repair or garage door spring replacement, contact a professional garage door opener repair contractor.

2.) Replace old windows. Outdated windows age a home significantly, and you can often upgrade standard windows to vinyl for a reasonable $300 per window. The average home has 8 windows, so this upgrade doesn’t cost nearly as much as you might think and it will make a huge difference to the value perceived by prospective buyers. Key point to remember is that when buyers view a home they love, if they see it has older windows, they consider it a time consuming and costly headache. First time buyers have never replaced windows and often dramatically overestimate the cost to cure this issue. By replacing pre-listing you an actually save money. A well priced, move-in condition home will sell for far more than one with windows in need of repair. And for the most versatile window glazed options, you can visit a good place like tripleglazedwindows.uk for more helpful info!

3.) Assess your floors . If you have hardwood flooring or even vinyl flooring like the ones at vinyl flooring Melbourne, it’s worth the investment to have them refinished considering buyers put an extremely high value on them; you’ll get the most bang for your buck if they are refurbished.

As per carpet cleaning smyrna ga, carpets should be shampooed and replaced if they are stained or look worn. You don’t need to spend large amounts of money on the highest grade or most modern name but something inexpensive and neutral will certainly bring you a return on the investment. Even the smell of new carpet will make buyers set your home apart from the comparable.

4.) Paint the trim. Learn why you should choose professional painting services in Dublin. If you can’t afford the daunting task of painting your entire house, painting just the trim will still make a big difference when it comes to curb appeal. Painting the whole house can be expensive, time consuming, and delayed by weather conditions; painting just the trim will give your home a fresher look. House painters Painters Pittsburgh PA reminds everyone that interior trim is equally as important.

5.) Update fixtures. Keep an eye out for sales at home improvement stores and replace outdated lighting, plumbing and hardware fixtures. Simple replacing lighting fixtures and knobs in the bathroom or kitchen can update the entire look of the room. You can find many modern brand name fixtures online on contractor supply websites by just searching for terms like sale faucets, sale plumbing fixtures etc.

Lisa Johnson Sevajian is Vice President of a real estate firm in Andover, MA.

Thank you, www.rismedia.com

I’m happy to come look at your home and offer my advise before you list your home.

John Marcotte

720-771-9401

Search all homes for sale @ www.boulderhomes4u.com

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Luxury Sellers Hang Tough on Prices

March 4, 2013 by

Luxury Sellers Hang Tough on Prices

R Even though the time it takes to sell a luxury property has increased to as long as 260 days in Chicago, 287 in Miami and 197 nationally, overall, fewer sellers are cutting prices.

Wintertime sluggishness has slowed luxury markets across the nation. Days on market have been increasing in nearly every major market tracked by the Institute for Luxury Home Marketing, and inventories are at a seasonal low, down from 27,600 properties in June to 18,400 in January.

Rather than falling with the end of the summer buying season, low inventories have placed upward pressure on prices, which have risen from a median of 1.11 million in September to 1.23 in January, according to ILHM data.

Perhaps as a result of strong prices, sellers are not responding as they normally do in the winter by cutting prices to generate interest among buyers. In fact, fewer are reducing prices today than when days on market were lower last summer.

The percentage of homes on the market that have lowered their asking price at least once over the past 90-day period has fallen 10 percentage points since the end of the summer, from 31.4 percent of properties to 24.4 percent. This statistic illustrates how many listed properties may be behind the “price curve” –listed at a price above what the market is willing to pay for similar properties.

Even in strong seller’s markets, the percent price decreased will be 10-12 percent, so some repricing of individual properties is common in any market. In weaker markets, this value begins rise into the teens, 20 percent, 30 percent, and higher. Percent price decreased is an insightful gauge of demand levels in the residential housing market.

The National Association of REALTORS® reported that sales of luxury homes spiked in the final months of 2012 as high-end homeowners rushed to take advantage of lower tax rates before January 1.

Many sellers wanted to cash in on their homes before a widely expected capital gains hike — to 20 percent from 15 percent — that was part of the fiscal cliff budget deal. According to the National Association of REALTORS® (NAR), sales of homes valued at $1 million or more spiked 51percent in November compared with a year earlier.

For more information, visit www.realestateeconomywatch.com

John Marcotte

www.boulderhomes4u.com

720-771-9401

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2013: Transition to “Normal”?

February 28, 2013 by

2013: Transition to “Normal”?

economic_growth_chart_cash The trend of gradual but below-potential economic growth seen in 2012 is expected to carry over through 2013 and into 2014. This modest growth path combined with the real GDP growth rate during the recovery from 2009 to this point of 2.2 percent annualized give credence to claims that the recovery’s slow pace has become the “new normal,” according to Fannie Mae’s Economic & Strategic Research Group. The fiscal cliff and ongoing debt ceiling debate, which are likely to suppress consumer spending in the first half of 2013, continue to present potentially strong headwinds to meaningful growth activity. Overall, a 2 percent growth rate is forecasted for 2013, similar to the subdued pace of 2012.

This is despite the fact that the housing sector, which has become a bright spot in the economy since home prices began to rebound in 2012, is expected to provide a rising contribution to GDP in 2013 and in coming years. Recent data indicate that the housing recovery has transitioned to a faster upward track, boosted by an improving labor market and low mortgage rates. Overall, home sales, home prices, and home building activity as well as homebuilder confidence appear to be on the upswing, having risen to multi-year highs.

“What we view as sub-par economic growth may actually continue to be par for the course for the near term,” says Fannie Mae Chief Economist Doug Duncan. “We expect the fiscal policy climate to act as a drag on growth this year with possible implications on the direction of the economy in the long term. As fiscal policy debates subside later in the spring, we expect to see some upward trend in economic activity, with growth accelerating moderately in the second half of the year. That momentum will find support in the form of continued, albeit slow, improvement in the housing sector. In the longer term, the gradual return of manufacturing to the U.S. and increasing domestic energy production will work together to accelerate economic growth. However, we anticipate overall growth in 2013 will remain below its potential, extending what has been a slow recovery.”

For an audio synopsis of the January 2013 Economic Outlook, listen to the podcast on the Economic & Strategic Research site at www.fanniemae.com. Visit the site to read the full January 2013 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary.

For more information, visit www.fanniemae.com

John Marcotte

www.boulderhomes4u.com

720-771-9401

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Homeowners Take a Fresh Look at Remodeling

February 26, 2013 by

Homeowners Take a Fresh Look at Remodeling

remodel_kitchen_blueprint If you’ve put off redoing that kitchen or adding a deck while waiting for the economy to perk up, welcome to the club.

Like the rest of the housing market, home improvements and remodeling plunged during the recession as consumers hunkered down.

But now that economic conditions are improving, the forecast for home fix-ups is looking up, too.

“Future market indicators, which have been lagging a little bit, have jumped up,” said Paul Emrath, a research vice president with the National Association of Home Builders. “Calls for bids and appointments for remodeling proposals are increasing significantly.

“They are basically as high as they have ever been,” Emrath told builders meeting for the industry’s annual exposition last week in Las Vegas.

The outlook for home remodeling in the year ahead is the best it’s been in almost a decade, based on the most recent remodeling industry surveys by the homebuilders’ association.

Home improvement expenditures are forecast to rise by almost a third from the worst of the market in early 2011 to late this year.

Remodeling fell by about 30 percent during the recession.

“That’s not as big as the decline in housing starts, which was closer to 80 percent,” Emrath said. “Our forecast is for slow and steady increases going forward.

“There is still pent-up activity waiting to be released,” he said. “We had a lot of projects put off as we went through the decline.”

Some remodelers say they’ve already seen a bounce in their business.

“Most remodelers definitely saw a rebound in the market in 2012 and are expecting continued growth in 2013,” said Lisa Parelli, president of the Dallas chapter of the National Association of the Remodeling Industry.

During the recession, more of the remodels that Parelli saw in the Dallas area were home facelifts necessary to fix up a property for sale. “But, now they are starting to see the bigger projects come back to life such as additions, complete tear-outs, whole house renovations,” she said.

Nationwide, the most popular home remodeling jobs, based on total expenditures, include kitchen remodels, bathroom upgrades and bedroom add-ons, according to a new study released this week by the Joint Center for Housing Studies of Harvard University, but a new study was also released this day, homeowners would eagerly spend a lot for their home security and privacy, you might want to browse around this web-site to learn more and see what it is.

“There is pent-up demand and stuff that has been put off,” said Harvard housing researcher Kermit Baker.

Baker said Americans have spent big dollars repairing and remodeling formerly foreclosed and distressed homes, about $10 billion in 2011. If you would like more information, you can click this link here now. If your home remodel includes replacing the beds, you may do a little online research to view more options. Homeowners who are planning to replace their staircases may hire Innovative Staircase Construction contractors.

Researchers are also predicting a surge in home retrofitting to improve energy efficiency. “We still think there is a lot of opportunity for greening up the housing stock,” Baker said.

Houston remodeler Bill Shaw said many homeowners get sticker shock when they finally decide to remodel.

“They still want new kitchens, they still want new baths,” said Shaw, who has been in business for 30 years. “All the ingredients for growth are there, until they find out how much it is going to cost.”

Shaw said during the recession when remodeling business lagged, his industry saw new competition from traditional builders.

“We’ve seen a tremendous increase in custom builders getting into remodeling,” he said.

And unlike in previous downturns, many of these builders have decided to stay in the home improvement business even as home starts increase, Shaw said. Home value declines in many markets during the last few years also made it tougher for remodelers. Lenders and appraisers wouldn’t OK expensive home improvements in neighborhoods where home prices fell sharply.

“As the equity and housing values increase, I think we will get back to more larger projects,” said Bob Hanbury, a remodeler from New England.

He said homeowners are more frugal when it comes to redos. “It doesn’t have as many of the bells and whistles; people are picking and choosing what they want,” Hanbury said. “You can’t provide them all the great features as in the past because their budget isn’t big enough.”

©2013 The Dallas Morning News
Distributed by MCT Information Services

John Marcotte

www.boulderhomes4u.com

720-771-9401

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Prices Rose 7.9 Percent in 2012

January 27, 2013 by

Prices Rose 7.9 Percent in 2012

home_price265x176 December 2012 home prices are expected to rise by 7.9 percent on a year-over-year basis from December 2011 and fall by 0.5 percent on a month-over-month basis from November 2012 reflecting a seasonal winter slowdown, CoreLogic said recently.

Excluding distressed sales, December 2012 house prices are poised to rise 8.4 percent year-over-year from December 2011 and by 0.7 percent month-over-month from November 2012, according to the CoreLogic Pending HPI.

Home prices nationwide, including distressed sales, increased on a year-over-year basis by 7.4 percent in November 2012 compared to November 2011. This change represents the biggest increase since May 2006 and the ninth consecutive increase in home prices nationally on a year-over-year basis. On a month-over-month basis, including distressed sales, home prices increased by 0.3 percent in November 2012 compared to October 2012. The HPI analysis shows that all but six states are experiencing year-over-year price gains.

Excluding distressed sales, home prices nationwide increased on a year-over-year basis by 6.7 percent in November 2012 compared to November 2011. On a month-over-month basis excluding distressed sales, home prices increased 0.9 percent in November 2012 compared to October 2012. Distressed sales include short sales and real estate owned (REO) transactions.

“Housing was one of the past year’s biggest surprises. Even without significant gains in income, housing mounted an impressive recovery in 2012,” says CoreLogic Chief Economist Mark Fleming. “While the economy is strengthening, there is more to be done. For example, concerns remain around structural unemployment and the falling labor force participation rate.”

Highlights as of November 2012:

• Including distressed sales, the five states with the highest home price appreciation were: Arizona (+20.9 percent), Nevada (+14.2 percent), Idaho (+13.8 percent), North Dakota (+11.3 percent), California (+11.1 percent).

• Including distressed sales, the five states with the lowest home price depreciation were: Delaware (-4.9 percent), Illinois (-2.2 percent), Connecticut (-0.5 percent), New Jersey (-0.5 percent) and Rhode Island (-0.3 percent).

• Excluding distressed sales, the five states with the highest home price appreciation were: Arizona (+16.5 percent), North Dakota (+12.9 percent), Nevada (+12.6 percent), Hawaii (+11.6 percent) and Idaho (+11.6 percent).

• Excluding distressed sales, this month only two states posted home price depreciation: Delaware (-3.5 percent) and Alabama (-2.2 percent).

For more information, visit www.realestateeconomywatch.com

 

John Marcotte

www.boulderhomes4u.com

720-771-9401

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