WASHINGTON, DC -- For the second year in a row, Realtors(R) report that exterior remodeling projects return the most money as a percentage of cost, as detailed in the 2008 Remodeling Cost vs. Value Report.
On a national level, wood deck additions and all types of siding replacements -- upscale fiber cement, midrange vinyl, and upscale foam-backed vinyl -- returned more than 80 percent of project costs upon resale. Of these, the most profitable project was upscale fiber cement siding, which recouped 86.7 percent of costs, followed by wood decks at 81.8 percent, midrange vinyl siding at 80.7 percent, and upscale foam-backed vinyl siding at 80.4 percent.
"Because today's buyers have much more to choose from in the way of inventory, any home for sale must make a positive first impression," said National Association of Realtors(R) President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. "As a trusted source for real estate information, Realtors(R) understand what attracts and motivates their buyer clients, which is why the results of this year's Cost vs. Value report underscore the importance of curb appeal in the buyer's eye."
The 2008 Remodeling Cost vs. Value Report compares construction costs with resale values for 30 midrange and upscale remodeling projects comprising additions, remodels and replacements in 79 markets across the country, expanding from 60 markets last year. Data are grouped into nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the 11th consecutive year that the report, which is produced by Hanley Wood, LLC, was completed in cooperation with REALTOR(R) Magazine, as Realtors(R) provided their insight into local markets and buyer home preferences within those markets.
In addition to wood decks and siding, window replacements and kitchen remodels also returned a relatively high percentage of remodeling costs on a national basis. All types of window replacements -- upscale and midrange wood and upscale and midscale vinyl -- returned more than 76 percent of costs. A major midrange kitchen remodel returned 76.0 percent of project costs, while a minor midrange kitchen remodel returned 79.5 percent of costs.
On a national level, bathroom remodels, while still a relatively good investment, do not return as high a percentage as in previous years. A midrange bathroom remodel was estimated to return 74.4 percent on resale, comparable to a midrange attic-to-bedroom conversion, at 73.6 percent of costs recouped, and a midrange basement remodel, at 72.7 percent of costs recouped.
As in last year's report, the least profitable remodeling projects in terms of resale value were home office remodels, sunroom additions, and back-up power generators, returning only 54.4 percent, 56.6 percent, and 57.1 percent, respectively, of project costs.
Although most regions followed national trends, the regions that consistently were estimated to return a higher percentage of remodeling costs upon resale were the Pacific region of Alaska, California, Hawaii, Oregon and Washington; the West South Central region of Arkansas, Louisiana, Oklahoma, and Texas; the East South Central region of Alabama, Kentucky, Mississippi and Tennessee; and the South Atlantic region of the District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and West Virginia.
The regions that generally returned the lowest percentage of costs were New England (Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont), East North Central (Illinois, Indiana, Michigan, Ohio and Wisconsin), West North Central (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota), and Middle Atlantic (New York and Pennsylvania).
McMillan explained that the resale value of any given remodeling project depends on a variety of factors. "A home's overall condition, availability and condition of surrounding properties, location, and regional economic climate are all factors that will influence the value of any remodeling project," he said. "That's why it's important to consult with professionals like Realtors(R) in your area when you want to enhance the value of your home. Realtors(R) see hundreds, if not thousands, of homes every year with their buyer clients and can provide valuable insight into what projects and improvements will make a difference with buyers in your area."
Results of the report are summarized in the December 2008 issue of REALTOR(R) Magazine. The issue also includes examples of actual remodeling projects that were less expensive than many of the report's cost estimates. Full project descriptions, as well as national, regional and local project data for the 79 cities covered by the report will be posted at www.costvsvalue.com by December 5. "Cost vs. Value" is a registered trademark of Hanley Wood, LLC.
Hanley Wood, LLC, is the premier media company serving housing and construction. Through four operating divisions, the company produces award-winning magazines and Web sites, marquee trade shows and events, rich data, and custom marketing solutions. The company also is North America's leading provider of home plans. Founded in 1976, Hanley Wood is a $240 million company owned by JPMorgan Partners, LLC, a private equity affiliate of JPMorgan Chase & Co.
The National Association of Realtors(R), "The Voice for Real Estate," is America's largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
Information about NAR is available at www.REALTOR.org. This and other news releases are posted in the Web site's "News Media" section in the NAR Media Center.
Saturday, December 13, 2008
Thursday, December 11, 2008
Why Get Your Hands Dirty When You Don't Have to?
Where there's a stampede, there's an opportunity...
Thousands of wannabe entrepreneurs have jumped on a bandwagon to find, fix-up and flip foreclosures.
They thought they were being smart. They thought they were doing the opposite to the crowd and had the license to print money.
Little do they know... they ARE the crowd!
Now, please don't misunderstand me. It's a fact that many properties (sadly) are becoming available at rock bottom prices due to foreclosure. It's also a fact that a few people are making money by flipping foreclosures...
And they're earning every penny (when it all works out)!
Flipping foreclosures may sound great in principle, but stop and think about what you have to go through to achieve that…
Not my idea of easy money.
Thousands of wannabe entrepreneurs have jumped on a bandwagon to find, fix-up and flip foreclosures.
They thought they were being smart. They thought they were doing the opposite to the crowd and had the license to print money.
Little do they know... they ARE the crowd!
Now, please don't misunderstand me. It's a fact that many properties (sadly) are becoming available at rock bottom prices due to foreclosure. It's also a fact that a few people are making money by flipping foreclosures...
And they're earning every penny (when it all works out)!
Flipping foreclosures may sound great in principle, but stop and think about what you have to go through to achieve that…
Not my idea of easy money.
Monday, December 8, 2008
Proof of Funds Letters!
Proof of Funds Letters!
As a Platinum Member of HSA, you are entitled to
use our Investor’s Private Funds.
Cost to use the funds is 1% plus $300
The fee is paid out of closing!
Which means Nothing is paid uprfront and there are No CREDIT checks!
Now as you may already know, Banks won’t consider your offer on
Short Sales or REO’s without a “Proof of Funds” Letter.
This is the part that stops most investors dead in their tracks…until now.
Here’s a 2 minute video on how to obtain and print out as many of your Proof of Funds Letters as you need:
Click Here for 2 Minute Video!
If you are not a Platinum member yet, visit us at:
http://www.FUNDSFORSHORTSALES.COM
and find out how you can be flipping short sales and
REO homes using NO CREDIT AND NO CASH!
Make sure you sign up for the FREE 30 Day Trial!
It’s time to think big…really BIG!
Larry Potter
Home Seller Assist
847-872-4047
Saturday, December 6, 2008
Promote Instant Access
Have you ever purchased a gift online, only to have it arrive three days after the holidays?
Talk about a disappointment, right?
And it's that fear of NOT receiving a gift on time that could stop a LOT of people from clicking the "buy" button on your site in the final days leading up to the holidays...
... unless you make it CLEAR that their purchases will arrive on time!
So if you use a major delivery service -- like UPS or Fedex -- make sure you clearly state that prominently on your site.
Your customers will feel MUCH more comfortable making a last-minute purchase if you can assure them that the gift will indeed arrive in time to wrap it up and put it under the tree.
And to save yourself a lot of post-holiday customer service headaches, make sure you also include a "cutoff date," after which you will no longer be able to guarantee holiday delivery.
That's why we offer Instant Access to everyone joining the Home Seller Assist program created by John Alexander.
People want to get started right away and we provide that, the same with our
We Provide The Cash program which was also started by John Alexander.
Talk about a disappointment, right?
And it's that fear of NOT receiving a gift on time that could stop a LOT of people from clicking the "buy" button on your site in the final days leading up to the holidays...
... unless you make it CLEAR that their purchases will arrive on time!
So if you use a major delivery service -- like UPS or Fedex -- make sure you clearly state that prominently on your site.
Your customers will feel MUCH more comfortable making a last-minute purchase if you can assure them that the gift will indeed arrive in time to wrap it up and put it under the tree.
And to save yourself a lot of post-holiday customer service headaches, make sure you also include a "cutoff date," after which you will no longer be able to guarantee holiday delivery.
That's why we offer Instant Access to everyone joining the Home Seller Assist program created by John Alexander.
People want to get started right away and we provide that, the same with our
We Provide The Cash program which was also started by John Alexander.
Tuesday, December 2, 2008
Junk Your Company Junk...
We Buy Non-Performing Assets
Get Rid of Non-Performing Assets Now
...We have billions to buy your non-performing assets...
Simply send a spreadsheet of your portfolio...
...Mortgage loans, car loans...
Credit card debt, installment loans....
...Our hedgefunds are looking to buy now...
Contact Larry Potter Now At lpotter33@gmail.com
Sunday, November 30, 2008
Selling Real Estate by Owner
You most likely landed here because you desire to sell your home as a by owner seller. The success rates of by owner sellers of real estate vary greatly. You often hear that only a very small percentage of FSBO (For Sale By Owner) sellers succeed in selling their real estate.
Well that may be true to a point but it does not have to be the case. The fact is any FSBO seller can have success with the correct knowledge and a game plan. Therefore the seller who takes action and gathers knowledge will always get better results in any real estate market. You must also remember that it is just as difficult for real estate brokers in a slow market.
There are many action steps required to sell a home and here is a small list.
- Get a yard sign and put a phone number along with a website address on the sign.
- Set-up a free website and you can find many sources for this online.
- De-clutter and stage your home prior to taking photos.
- Print property information flyers with photos.
- Prepare to hold an open house
- Clean and maintain landscaping.
- Determine who your competition is in your area in order to determine the correct price.
- Consider a marketing budget for advertising locally.
- Contact an attorney to prepare your deed and review contracts.
- The key is to be prepared from beginning to end.
All For Sale By Owner sellers should understand that selling a home is a serious event and requires attention to detail. There is potential for a large savings on the commission typically paid to a real estate firm. Therefore the person deciding to sell by owner needs to treat this decision like a job.
Remember that the World Wide Web can provide an abundance of resources for any seller to use when selling a home. You can use any number of tools and resources but the more the better your chances are for that sale. Just remember there is no such thing as just placing a sign in the yard and getting the desired result. Selling a home by owner requires ACTION, ACTION, and more ACTION. Your actions will lead to exposure and exposure is what ultimately sells homes.
With 80-85 percent of all buyers and sellers starting their searches online. I expect to see a large number of folks looking to sell by owner in our slowing economy and the years ahead.
GOOD LUCK! To all by owner sellers...
Michael Ranger is currently Director of Operations for 24hourfsbo.com and Alliance Marketing Concepts, LLC. 24hourFSBO is a real estate marketing website that offers homeowners the information and tools need to sell their home by owner.Ranger has spent many years in the real estate industry as a very successful real estate broker. Ranger has received many awards and acknowledgments for his level of service and production. To get more information on selling your home quickly visit http://getfsboresults.blogspot.com/2008_11_01_archive.html
Article Source: http://EzineArticles.com/?expert=Michael_Ranger
Well that may be true to a point but it does not have to be the case. The fact is any FSBO seller can have success with the correct knowledge and a game plan. Therefore the seller who takes action and gathers knowledge will always get better results in any real estate market. You must also remember that it is just as difficult for real estate brokers in a slow market.
There are many action steps required to sell a home and here is a small list.
- Get a yard sign and put a phone number along with a website address on the sign.
- Set-up a free website and you can find many sources for this online.
- De-clutter and stage your home prior to taking photos.
- Print property information flyers with photos.
- Prepare to hold an open house
- Clean and maintain landscaping.
- Determine who your competition is in your area in order to determine the correct price.
- Consider a marketing budget for advertising locally.
- Contact an attorney to prepare your deed and review contracts.
- The key is to be prepared from beginning to end.
All For Sale By Owner sellers should understand that selling a home is a serious event and requires attention to detail. There is potential for a large savings on the commission typically paid to a real estate firm. Therefore the person deciding to sell by owner needs to treat this decision like a job.
Remember that the World Wide Web can provide an abundance of resources for any seller to use when selling a home. You can use any number of tools and resources but the more the better your chances are for that sale. Just remember there is no such thing as just placing a sign in the yard and getting the desired result. Selling a home by owner requires ACTION, ACTION, and more ACTION. Your actions will lead to exposure and exposure is what ultimately sells homes.
With 80-85 percent of all buyers and sellers starting their searches online. I expect to see a large number of folks looking to sell by owner in our slowing economy and the years ahead.
GOOD LUCK! To all by owner sellers...
Michael Ranger is currently Director of Operations for 24hourfsbo.com and Alliance Marketing Concepts, LLC. 24hourFSBO is a real estate marketing website that offers homeowners the information and tools need to sell their home by owner.Ranger has spent many years in the real estate industry as a very successful real estate broker. Ranger has received many awards and acknowledgments for his level of service and production. To get more information on selling your home quickly visit http://getfsboresults.blogspot.com/2008_11_01_archive.html
Article Source: http://EzineArticles.com/?expert=Michael_Ranger
Tuesday, November 25, 2008
Sell Your Home With Colours
The way in which we perceive colours can have an effect on our mood, what we like and what we do not like, and even what we buy. Many of the big box retailers have known and implemented this in their stores in order to entice people into increasing their purchases. Effective use of colours in your home can help to evoke emotions in buyers that hopefully will lead to your home being sold faster and for more money than if colours were not well used.
Blue
Using different shades of blue can make people feel calm and relaxed, aid in concentration. Certain shades of blue can also have an invigorating and refreshing influence. The best uses of blue in a home are generally in bathrooms or laundry rooms but bedrooms can also benefit form the use of blue.
Red
Red has always been the colour of passion and sexuality, so if that is what you are after this might be the choice for your bedroom. Generally speaking red should be used sparingly as it can have the opposite effect on people as the colour blue. So studies have shown that the colour red can increase blood pressure. Red can also increase people's appetite and promote conversation so a good use of red might be as an accent wall in the living room or dining room.
Yellow
Known as a happy colour and a sun colour, yellow can help to increase a person's metabolism. A great place for yellow might be the kitchen or bathroom and goes well with white. It may not be the best choice, however, for a nursery or bedroom as some suggest that babies cry and people argue more in yellow rooms.
Green
Green can calming and relaxing and even have a healing effect of people. It has also been suggested that green help to relieve anxiety and depression. Just do not go too dark as it can really close in a room. The most popular shades of green are sage, olive and lime.
Orange
Use this warm colour in your kitchen, bedroom or dining room to instill a sense of invigoration and well being. Orange is generally better used when properly balanced with white.
Black
Black is not usually a colour that is used often in people's homes since it can make a room appear small than it actually is if used improperly. But if used effectively, along with taupe and white accessories, black can add a element of elegance and sophistication to a room. Black as an upholstery means that you do not have to worry so much if that red wine stain does not fully come out.
Remember that when using colour in your home not to just think in terms of paint. While painting a room will give you the most dramatic effect you can bring colour into a room using accent pillows, potted plants, area rugs, furniture upholstery and through pictures and art. However you choose to add a bit of colour experiment and have fun with it.
Sterling Wong specializes in homes for sale in Missisauga as a sales representative for Re/Max Realty Specialists Inc.,Brokerage. Search the site for available properties or luxury real estate Mississauga resources and market information. Feel free to contact Sterling for all of your real estate needs.
Article Source: http://EzineArticles.com/?expert=Sterling_Wong
Blue
Using different shades of blue can make people feel calm and relaxed, aid in concentration. Certain shades of blue can also have an invigorating and refreshing influence. The best uses of blue in a home are generally in bathrooms or laundry rooms but bedrooms can also benefit form the use of blue.
Red
Red has always been the colour of passion and sexuality, so if that is what you are after this might be the choice for your bedroom. Generally speaking red should be used sparingly as it can have the opposite effect on people as the colour blue. So studies have shown that the colour red can increase blood pressure. Red can also increase people's appetite and promote conversation so a good use of red might be as an accent wall in the living room or dining room.
Yellow
Known as a happy colour and a sun colour, yellow can help to increase a person's metabolism. A great place for yellow might be the kitchen or bathroom and goes well with white. It may not be the best choice, however, for a nursery or bedroom as some suggest that babies cry and people argue more in yellow rooms.
Green
Green can calming and relaxing and even have a healing effect of people. It has also been suggested that green help to relieve anxiety and depression. Just do not go too dark as it can really close in a room. The most popular shades of green are sage, olive and lime.
Orange
Use this warm colour in your kitchen, bedroom or dining room to instill a sense of invigoration and well being. Orange is generally better used when properly balanced with white.
Black
Black is not usually a colour that is used often in people's homes since it can make a room appear small than it actually is if used improperly. But if used effectively, along with taupe and white accessories, black can add a element of elegance and sophistication to a room. Black as an upholstery means that you do not have to worry so much if that red wine stain does not fully come out.
Remember that when using colour in your home not to just think in terms of paint. While painting a room will give you the most dramatic effect you can bring colour into a room using accent pillows, potted plants, area rugs, furniture upholstery and through pictures and art. However you choose to add a bit of colour experiment and have fun with it.
Sterling Wong specializes in homes for sale in Missisauga as a sales representative for Re/Max Realty Specialists Inc.,Brokerage. Search the site for available properties or luxury real estate Mississauga resources and market information. Feel free to contact Sterling for all of your real estate needs.
Article Source: http://EzineArticles.com/?expert=Sterling_Wong
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