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Real Estate Sellers Blog  Sellers ... Stay Informed on the Local Market
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Selling Your Home: Getting The Highest Return on Your Investment |
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HomeGain 2009 Top 12 Home Improvements Survey Results
Posted by: Jessica Gopalakrishnan on November 4th, 2009
Due to popular demand from the real estate community, HomeGain.com regularly conducts its nationwide home improvement and home staging Home Sale Maximizer™ survey. Past findings from the survey have been a guide for thousands of home sellers in preparing their home for sale.
HomeGain recently conducted a new survey of top 12 low cost*, do-it-yourself (DIY) home improvements for people getting their home ready to sell. Nearly 1,000 REALTORS® responded to the survey.
The top five nationwide home improvements that Realtors recommend to home sellers, based on average cost and return on investment (ROI) to sellers, are:
- Cleaning and de-cluttering ($200 cost / $1,700 price increase / 872% ROI / 98% recommended)
- Home staging ($300 cost / $1,780 price increase / 586% ROI / 82% recommended)
- Lightening and brightening ($230 cost / $1,300 price increase / 572% ROI / 95% recommended)
- Landscaping ($320 cost / $1,500 price increase / 473% ROI / 94% recommended)
- Repair Plumbing ($385 cost / $1,250 price increase / 327% ROI / 88% recommended)
Costs are averages and rounded up. For ranges of values, see chart 1 below. For actual price increase, see chart 2 below.
Cleaning and de-cluttering continues to rank as the top suggested home improvement (since the survey was originally conducted in 2003). This low cost home improvement is recommended by 98% of Realtors and costs less than $200 but has a returning value of nearly $1,700 to the home’s sale price, or an 872% return (ROI).
“Inexpensive cosmetic home improvements and basic improvements greatly enhance the value of the home,” stated Carol Wilson of Carpenter Real Estate in Indianapolis, IN (AgentEvaluator member since 1999).
In 2007 survey results, Lightening and Brightening had the second highest ROI followed by Home Staging. Two years later, Home Staging overtakes Lightening and Brightening.
“Many Realtors agree, especially in a buyer’s market, that sellers who make these recommended home improvements often get their homes sold faster and at higher prices,” stated Louis Cammarosano, General Manager at HomeGain. “We have customized our Home Sale Maximizer online home improvement tool to help identify and prioritize the projects that can increase the salability and selling price of your home.”
Rounding out the top 12 DIY home improvements are:
- 6. Update electrical ($400 cost / $1225 price increase / 310% ROI / 89% recommended)
- 7. Replacing or shampooing carpets ($300 cost / $1420 price increase / 586% ROI / 82% recommended)
- 8. Painting interior walls ($700 cost / $1770 price increase / 250% ROI / 94% recommended)
- 9. Repair damaged floors ($650 cost /$1600 price increase / 250% ROI / 91% recommended)
- 10. Update kitchen ($1200 cost / $2850 price increase / 237% ROI / 69% recommended)
- 11. Paint outside of home ($900 cost / $1815 price increase / 200% ROI / 81% recommended)
- 12. Update bathroom/s ($830 cost / $1430 price increase / 172% ROI / 70% recommended)
Try the Home Sale Maximizer Tool below:
Get the Home Sale Maximizer widget for your website by clicking here.
In comparison to the 2007 survey results, the top five home improvements were the same, except that Lighten and Brighten and Stage home for sale were flipped for second and third top home projects.
The home improvements with the highest price increases to a home’s resale value is Updating the Kitchen ($2,850 price increase), followed by Painting the Outside of the Home ($1,815 price increase) and Home Staging ($1,780 price increase).
Home Staging is the second most valuable home improvement project to a seller when it comes to selling a home by ROI and third most valuable by price increase, according to surveyed Realtors. See additional analysis on Home Staging. Check the HomeGain Real Estate Blog regularly for updates.
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How To Help Sell Your Home With Paint |
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 One of the most important factors in selling a home involves the overall condition of the paint on both the interior and the exterior. In both cases this can be a make or break point for the sale. If there is any painting that needs to be done, it can be done very affordably and can add a lot of value to any home. Here are a few tips to keep in mind when you need a paint job done.
#1 - Choose a neutral color
Neutral colors are the safest as far as selling a home quickly is concerned. Home stagers and decorators all strongly recommend painting a home in neutral colors to help it sell faster, as they find many of today’s buyers prefer not having to do any work. You want to avoid having a buyer walk into your home and immediately start thinking about the extra costs of repainting because they have a strong reaction to a color.
Neutral colors also help a property look best in photographs online, which is where potential buyers often first make the decision to look at a house or condo in person.
For the exterior, if the outside of the home needs painting, find a color that blends in easily with the other colors of homes on the street. This will raise the curb appeal of your home substantially.
#2 - Finish the painting before any showings are scheduled
It will be a big turn-off to any potential buyer to see an incomplete paint job. Add to that any tools that are left out for the job and you will have your buyers leaving in a hurry. Make sure that the job is one hundred percent complete before scheduling any showings.
#3 - Seek professional advice
If you are completely lost as to what colors to choose and cannot envision how the job will appear when finished, you can hire a professional designer for a quick (and usually, free) consultation. There are qualified designers that will come to your home for an hour and tell you the exact shades of color you should use to keep the color scheme neutral, light and calming. It is a small investment of time towards a higher selling price for your home, and a quicker sale.
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Last Updated ( Wednesday, 03 February 2010 )
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Westfield New Jersey Real Estate Tips: How To Attract Buyers To Your Home |
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Interested in learning how to entice a buyer into purchasing your home? Concentrate on making a memorable first impression. Sometimes, all it takes is a little preparation to get your house ready to sell. You can inspect your house and do any necessary repair work yourself, which will save you some, but if you really want the best outcome, pay a little extra and get your home inspected by a professional.
What are some of the other things you can do that will impress buyers the most? Here are a few suggestions.
Make The Outside Look Beautiful.
Nothing extreme, just beautifying. Your buyer will be impressed when the outside looks clean and taken care of. You should be aware that the outside is the first impression formed by the buyer. There are two senses that you want to please. One is the nose, the other is sight. You want to clean up the exterior of your home to have a welcoming feeling on the outside. Here are some steps you can take:
* Mow the grass, plus water and clean out weeds from around plants and flowers.
* Clean the entrance and driveway, then put a few potted flowers along the sides.
* Eliminate any stale odors with fresh potpourri.
* Clean the windows and doorways.
* Remove or store equipment away.
* Paint walls that need it.
Create a Welcoming Interior.
Now that your buyer loves the outside, you want them to feel the same about the inside. You want the buyer to feel at home the second they walk in. Here are some steps:
* Clean or even strip any tiled floors that are dirty.
* Clean up the garage, basement, and attic.
* Clean and open your windows for fresh air and light inside your home.
* Give your pets a bath.
Repair and Replace
If you have outdated appliances, broken furniture or equipment, you might want to fix or replace them. Look around for:
* Broken or missing doors
* Cabinet hardware
* Ceilings
* Filters for ventilation
* Tiles broken in the bathroom or kitchen
* Sink and faucet
* Wallpaper or paneling
* Certain furniture
Get opinions from friends and family.
If you want to make your Westfield, New Jersey house a buyers’ first choice, have friends act as a buyer and get their advice. The one thing you want to know is if your home feels like their home.
Make The Outside Look Beautiful.
Nothing extreme, just beautifying. Your buyer will be impressed when the outside looks clean and taken care of. You should be aware that the outside is the first impression formed by the buyer. There are two senses that you want to please. One is the nose, the other is sight. You want to clean up the exterior of your home to have a welcoming feeling on the outside. Here are some steps you can take:
* Mow the grass, plus water and clean out weeds from around plants and flowers.
* Clean the entrance and driveway, then put a few potted flowers along the sides.
* Eliminate any stale odors with fresh potpourri.
* Clean the windows and doorways.
* Remove or store equipment away.
* Paint walls that need it.
Create a Welcoming Interior.
Now that your buyer loves the outside, you want them to feel the same about the inside. You want the buyer to feel at home the second they walk in. Here are some steps:
* Clean or even strip any tiled floors that are dirty.
* Clean up the garage, basement, and attic.
* Clean and open your windows for fresh air and light inside your home.
* Give your pets a bath.
Repair and Replace
If you have outdated appliances, broken furniture or equipment, you might want to fix or replace them. Look around for:
* Broken or missing doors
* Cabinet hardware
* Ceilings
* Filters for ventilation
* Tiles broken in the bathroom or kitchen
* Sink and faucet
* Wallpaper or paneling
* Certain furniture
Get opinions from friends and family.
If you want to make your Westfield, New Jersey house a buyers’ first choice, have friends act as a buyer and get their advice. The one thing you want to know is if your home feels like their home. |
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Ideas for Selling Your Home Faster and More Profitably |
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 The advantages to selling your house immediately are numerous. It will lower your stress level, since having the question of whether your home will sell while it's on the market hanging over your head can be quite unpleasant and stressful. Your property value will come down if it is unsold for a longtime.
Whatever said and done, selling a house quickly is always better This article will explain techniques and strategies that will help you sell your house in a timely and profitable manner.
Make Your House Seem As It Is Worth More
Be certain that your home is in the best condition. If you want to get the top dollar and also elicit that on the spot, "I must have this house" response in prospective buyers, it's vital to have your home in ship-shape.
The primary rooms of concern for perfecting are the bathrooms and the kitchen. Be sure that the floor is sparkling clean everywhere. You can be rest assured that it is no dirt or grime The metal should show no signs of rust.
Damaged fixtures definitely need to be replaced.
Shower heads or toilets should be thoroughly cleaned,appliances. It would be wise to replace it with a brand new one
If the existing one could not be cleaned for any reason WD-40 can always be counted on for the hinges around your house suffering from a bit of squeaking. If there are holes or dents in the walls or on the floors, it is imperative that they are fixed.
Make yours stand out from the crowd.
If you have a central focal point when showing off to potential buyers, it can help tremendously in the sale. The focal point of the property you attempt to sell can be just about anything: a beautiful fireplace, classy looking wooden cabinets, or even simply a well-maintained backyard. Buyers in the beginning find irresistible psychologically and later decrease rationally. If you have something really good about your house, it will surely make them fall in love
A Realtor I once knew had been making effort for months to sell a property that was very bland. Finally she has decided to buy a large TV and place it in her living room. After which she promoted the open house in every possible venue and made a point of letting every potential buyer know that the TV was included in the purchase of the house. Even though nothing really stood out about the house, three different people put in offers since they fell in love with the house.
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Bright and Airy Homes Sell Better |
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Author: Justin Lee
Home selling, while time consuming can be intensely rewarding when the final offer finally comes in. There is nothing like the feeling of selling your home for an amount that males you happy and makes you some money. However in achieving this goal you may want to make a few changes to your home so that it shows better when listed, Homes that have dark and morose colors do not show too well as the dreary feeling of the dark paint is not really conducive to a selling environment. Buyers like to feel welcomed and warm when they arrive at a home and a gloomy atmosphere is the worst thing they can arrive to.
In keeping a home bright and airy it does not mean that you have to fore go those darker colors that you like so much, simply that for the home to sell right you may want to save those darker colors for your new home and put something warm on the walls before the show. Also, in preparing for the showing, make sure to take down and art that might not be to the taste of the masses. It is likely that there could be people of all ages viewing your home from children to seniors and it's a safe bet that they will not all share your taste in decorations or art. Anything questionable or risky should go. This is especially true if you have teenage kids as they have a tendency to put loud posters and clippings on the walls.
Keeping the home airy is another good practice for selling. during the summer it is nice to have the windows open to catch a gentle breeze. Also having the rooms well lit will help to create a more open feeling. Homes that feel stuffy and congested always take longer to sell than homes that are open and airy.
Humans as a species do not like to feel "hemmed in" and dark colors and too much furniture can easily create that feeling. Especially in a smaller home. If it is necessary to remove some furniture prior to the show then do not hesitate to do so. The more open the home the better it will show.
Article Source: http://www.articlesbase.com/real-estate-articles/bright-and-airy-homes-sell-better-164988.html
About the Author:
Justin Lee is a real estate agent specializing in Montgomery County real estate . Justin's background in economics gives him uncanny insight into the thriving Washington D.C. real estate market. For more information contact Justin soon or visit online at www.jdlrealestateonline.com
Author: Justin Lee
Home selling, while time consuming can be intensely rewarding when the final offer finally comes in. There is nothing like the feeling of selling your home for an amount that males you happy and makes you some money. However in achieving this goal you may want to make a few changes to your home so that it shows better when listed, Homes that have dark and morose colors do not show too well as the dreary feeling of the dark paint is not really conducive to a selling environment. Buyers like to feel welcomed and warm when they arrive at a home and a gloomy atmosphere is the worst thing they can arrive to.
In keeping a home bright and airy it does not mean that you have to fore go those darker colors that you like so much, simply that for the home to sell right you may want to save those darker colors for your new home and put something warm on the walls before the show. Also, in preparing for the showing, make sure to take down and art that might not be to the taste of the masses. It is likely that there could be people of all ages viewing your home from children to seniors and it's a safe bet that they will not all share your taste in decorations or art. Anything questionable or risky should go. This is especially true if you have teenage kids as they have a tendency to put loud posters and clippings on the walls.
Keeping the home airy is another good practice for selling. during the summer it is nice to have the windows open to catch a gentle breeze. Also having the rooms well lit will help to create a more open feeling. Homes that feel stuffy and congested always take longer to sell than homes that are open and airy.
Humans as a species do not like to feel "hemmed in" and dark colors and too much furniture can easily create that feeling. Especially in a smaller home. If it is necessary to remove some furniture prior to the show then do not hesitate to do so. The more open the home the better it will show.
Article Source: http://www.articlesbase.com/real-estate-articles/bright-and-airy-homes-sell-better-164988.html
About the Author:
Justin Lee is a real estate agent specializing in Montgomery County real estate . justin's background in economics gives him uncanny insight into the thriving Washington D.C. real estate market. For more information contact Justin soon or visit online at www.jdlrealestateonline.com
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Creating Instant Curb Appeal |
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Curb appeal is a vital part of successfully selling your house. The exterior of a house and its surrounding property is a visual invitation to the buyer to enter the home. If your curb appeal is not inviting, potential buyers may not even walk in the front door to see all of what your home has to offer. This checklist is intended as a guide to help homeowners focus on areas that will attract buyers to view the interior of the home.
Lawn Care
- mow lawn
- remove weeds
- rake and remove yard waste
Plants and Shrubs
- trim
- remove weeds
- rake and remove yard waste
- perennial plants add interest and value to a property
- annual flowers add a punch of color to the yard
Trees
- trim branches as necessary
- consider having damaged or dead trees removed
Fences
- inspect for damage
- repair as necessary
- paint if needed
Mailbox
- check condition, repair or replace if necessary
- secure in the ground
- check for plumb
Driveways
- safe
- clean
- repair cracks
- consider seal-coating if appropriate
Garage
- keep organized
- keep swept
- consider painting interior walls
Tools and Toys
- keep in good working condition
- keep stored in proper place
- put bicycles and outdoor toys away when not in use
Lighting
- clean outside fixtures
- replace burnt exterior bulbs
Exterior Home Features
- inspect trim and shutters - clean, repair, replace as necessary
- gutters - clean, repair, replace as necessary
- Polish metal items such as brass or chrome accents
Porches and Patios
- inspect and make necessary repairs
- clean cobwebs, paint as necessary
Real estate agents are experts with selling homes. They have experience with curb appeal and can help you present your home in the best possible way to achieve a faster and more profitable sale.
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How Staging Can Help Sell Your Home |
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If you've been considering moving and selling you home, or selling an investment home, you should research home staging ideas and implement them. There are many advantages to taking the time to stage your home to make it more attractive to buyers.
One of the greatest benefits of staging your home is that it will sell more quickly. Sellers are always anxious to move their homes more quickly. By staging your home, you help to insure that it will not sit on the market, helping you to avoid price reductions. Research shows that homes which are stages will sell almost forty percent faster than other homes that have not been staged.
Another benefit of staging your home is that it will sell for a higher price. Homes that sit on the market will receive lower offers becuase people begin to wonder if there is something wrong with the house. However, staged homes do not typically sit on the market long enough for this to be an issue. Upon listing, the pictures that can be taken will help the house to sell itself quickly.
A staged exterior also helps to bring people in to walk through the home. First impressions are everything and staging the outside helps to create that vital, positive first impression. Flowers and a manicured yard give the impression that a property is well cared for and this will entice buyers to go in and see more. Great cub appeal with a staged exterior makes people wonder how nice the inside will look and draws them into your house.
Buyers typically decide within seconds of entering a home whether they like it or not. Therefore, you want your home to appeal to the potential buyer's liking. The buyer should never feel rushed, you want your potential buyers to feel at ease in your home and to be willing to take his time and explore it.
It is important you stage the living room and kitchen. Living rooms are the center piece of the home and you will want to show off how fantastic your can be by decorating it and staging it.
Kitchens should receive a great deal of attention, and fruit is a great way to help decorate and make a kitchen more attractive and appealing. It is also important that the house be clean and tidy with everything put away. Buyers are looking for homes that they can move their things into and begin to enjoy, not houses where they will immediately have a check-list of items that require repair.
Real estate agents also prefer showing staged homes, since they are more likely to sell, and this can also create more advertising for you. Agents who enjoy your home and are excited about your home will recommend it to their potential buyers. Staging your house increases the number of agents that will like it themselves. When the agents like your home, they will refer their clients to it and one of them may turn out to be the buyer you are seeking. This additional exposure does not cost you a dime.
It is a simple fact that staged homes sell. They have more viewings, attract more real estate agents and therefore more buyers. Going out of your way to make potential buyers believe that your home is the one he has been seeking for will pay off. While most houses will eventually sell, remember that staged homes sell more quickly and at a higher price. Once the decision is made to sell your home, beging researching staging it so that you can put it on the market with the best possible presentation it can offer. |
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5 Useful Tips for Selling Your Home Quickly |
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Most first-time sellers aren't aware of the basic principles of selling a home fast. While your real estateagent will brief you on these tips, it is a good idea to look them over again so that you are always prepared for a viewing.
#1 - Make your home welcoming
If you have to be there for the viewing then you should have a smile on your face and make the potential buyer feel welcome. Smile and be happy even if you are in a rotten mood. This is a business transaction, and the better the buyer feels about stepping into the home the more chance there is that he will consider it for purchase.
#2 - Keep it clean
This may seem quite obvious, but as time goes by and the house hasn't sold, you need to remember on a daily basis to keep it as clean as possible. It can be quite difficult if you have little children running around the house, but do your best. You may want to hire a maid service to come on a weekly basis to keep your house shiny while you are in the midst of selling.
#3 – Keep it smelling fresh
Try to keep your Westfield New Jersey house smelling fresh. You may want to burn some pot pourri, which emits a soft subtle fragrance into the air. You can do this at various times during the day so that you are always ready for a surprise viewing.
#4 - Keep your house tidy.
Always remember to pick up things as you use them especially while your house is on the Westfield New Jersey market. It only takes a few things out of order to make the house seem messy.
#5 - Be honest
If the potential buyers ask you any questions about problems in your house don't try and cover up. Answer their questions as honestly as you can. It will be appreciated. Even a freshly built home will have minor problems associated with it, and viewers expect your [home to have a few minor problems as well.
These five tips can help you sell your home much more quickly. Although they are quite simple and basic, you might be surprised at just how often they are overlooked by the seller.
If you need more free information about selling, buying or investing in Westfield New Jersey real estate feel free to contact Peter Jordan. For complete information about the Westfield New Jersey real estate market, including the most recent homes for sale, current property values and more, please visit the most complete online website dedicated to meeting all of your real estate needs at livinginWestfieldNJ.com. Do not hesitate to contact me anytime with any of your real estate or mortgage related questions and I will be happy to answer your them for you. Call me on my cell at (732) 910-1301 or email me at peter.jordan@prudentialnewjersey.com.
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Last Updated ( Monday, 21 December 2009 )
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Closing on Real Estate in Westfield New Jersey, by Peter Jordan, Westfield New Jersey Real Estate Expert |
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What happens at closing?
Many important transactions take place at a closing on real estate in Westfield New Jersey according to Peter Jordan, real estate expert.
The buyer brings the money required for the down payment and closing costs, less any down payment already made. They pay the money, sign mortgage documents and are given a Deed to the property. Every State has different laws regarding the details of a closing. A very large textbook could be written on this issue. Luckily there are experts to help buyers understand the process for their specific circumstances. That is one of the many reasons why it is a good idea to hire a professional real estate agent or broker whenever buying or selling your home in the Westfield New Jersey area.
How to prepare for closing?
The best way to prepare for a closing is to hire an attorney. The next important thing to do is to listen to your attorney. Remember that you hired them and they work for you. Ask questions and do not settle until you have received satisfactory answers. Your real estate agent or broker will work closely with your attorney to insure all of the documents are in order before you go to closing.
Who needs to be at closing?
Who needs to be at closing? First of all, YOU! Don't allow anyone to represent you at the most important financial moment of your life without taking an active role in the festivities. Of course there are exceptions to this rule. If the buyer is unable to be at closing, their attorney will act in their behalf as long as a Power Of Attorney has been signed.
What happens at the end of closing?
At the conclusion of the closing the money is exchanged, usually in the form of bank checks, and the buyer leaves with keys to their new house.
There is a lot of free information available to you about buying, selling or investing in Westfield New Jersey real estate. For complete information about the Westfield New Jersey real estate market including current homes for sale, property values and more please visit the most complete website on line dedicated to everything [Profile.market] real estate at livinginWestfieldNJ.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at (732) 910-1301 or email me at peter.jordan@prudentialnewjersey.com.
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Deducting Property taxes |
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Are Westfield New Jersey Property Taxes Deductible?
Property taxes on all real estate, including those levied by state and local governments and school districts, are fully deductible against current income taxes.
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Last Updated ( Sunday, 15 November 2009 )
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Property taxes - how they work |
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How do property taxes work?Property taxes are what most homeowners in the United States pay for the privilege of owning a piece of real estate, on average 1.5 percent of the property's current market value. These annual local assessments by county or local authorities help pay for public services and are calculated using a variety of formulas.
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Last Updated ( Sunday, 15 November 2009 )
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Are seller-paid points deductible? |
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Are seller-paid points deductible?
As of Jan. 1, 1991, homeowners have been able to deduct points paid by the seller. This deduction previously was reserved only for points actually paid by the buyer.
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Last Updated ( Wednesday, 30 July 2008 )
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tips for negotiation |
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What are some tips on negotiation?
The more you know about a seller's motivation, the stronger a negotiating position you are in. For example, seller who must move quickly due to a job transfer may be amenable to a lower price with a speedy escrow. Other so-called "motivated sellers" include people going through a divorce or who have already purchased another home.
Remember, that the listing price is what the seller would like to receive but is not necessarily what they will settle for.
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Last Updated ( Wednesday, 30 July 2008 )
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what's seller financing? |
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What is seller financing?
Seller financing is when a seller helps to finance a real estate transaction by taking back a second note or even financing the entire purchase if the seller owns the home free and clear. Usually sellers do this when a buyer has difficulty qualifying for a conventional loan or meeting the purchase price.
Seller financing differs from a traditional loan because the seller does not give the buyer cash to complete the purchase, as does a lender.
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Last Updated ( Wednesday, 30 July 2008 )
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two most important factors when selling a home |
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What are the two most important factors when selling a home?
Price and condition are the two most important factors in selling a home, even in a down market. The first step is to price your home correctly. Use comparative sales information from your agent, or pay for a professional appraiser (usually $200 to $300), to objectively evaluate your home's worth. Second, go through the house and repair any obvious cosmetic defects that could deter a buyer.
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Last Updated ( Wednesday, 30 July 2008 )
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list vs. sales prices |
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What is the difference between list and sales prices?
The list price is how much a Westfield New Jersey house is advertised for and is usually only an estimate of what a seller would like to get for the property. The sales price is the amount a property actually sells for. It may be the same as the listing price, or higher or lower, depending on how accurately the property was originally priced and on market conditions.
If you are a seller, you may need to adjust the listing price if there have been no offers within the first few months of the property's listing period.
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Last Updated ( Wednesday, 30 July 2008 )
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How does someone sell a slow mover? |
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How does someone sell a slow mover?
Even in a down market, real estate experts say that price and condition are the two most important factors in selling a home.
If you are selling in a slow market, your first step would be to lower your price. Also, go through the Westfield New Jersey house and see if there are cosmetic defects that you missed and can be repaired.
Secondly, you need to make sure that the home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage, and listings on the local multiple listing service (MLS) and on the Internet.
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Last Updated ( Wednesday, 30 July 2008 )
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