Spring has not sprung, but lots of homeowners appear to be coiled in anticipation of the moment they can slam that "For Sale" sign into the ground.
And those who plan to sell would be wise to take heed of John Gidding's three big tips for home sellers:
•Declutter.
•Enhance your curb appeal.
•Make the kitchen and bathrooms shine.
Gidding, the architect and designer who is host of HGTV's "Designed to Sell" and "Curb Appeal: The Block," expects lots of questions about getting houses ready for the market when he appears next week at the 29th annual Philadelphia Home Show.
He'll speak during the closing weekend of the nine-day show. Also appearing will be Paul DiMeo of ABC's "Extreme Makeover: Home Edition" and Christopher Straub, a "Project Runway" fashion designer. The show will include 500 industry experts to discuss money-saving tips and offer professional advice. In addition, four designer rooms will include an eco-friendly living room, spa retreat, baby suite and "man cave."
Gidding, who was born in Turkey to an American father and now lives in Atlanta, says the real key to selling your home is to imbue it with value. He'll talk about his shows and how people react, and he expects people to ask about what goes on behind stage, as well as what to do with their own homes.
Like many others, Gidding sees signs that the real estate market may be coming back.
"The Atlanta market has been pretty hard hit, but in the last few weeks, there's been a big uptick and everybody is breathing easier," Gidding says. "Based on that, I think something is going on. I think people are over this recession in every way, figuratively and literally, and hopefully when the flowers start coming out again and people start feeling good about where they are living, people will go out and buy some more."
Orchestrating simplicity
His three tips aren't as straightforward as they may seem, he says.
Decluttering goes beyond just picking up and clearing off surfaces, he says. It includes removing a lot of your personality from the home and showing off closets and drawers to their best advantage.
If your closets are full, get rid of about 40 percent of the clothing and items in them, and store them in a rental unit or a spare bedroom at your parents' or a friend's house. If your drawers are crowded, clean them out and put in organizers so they're neat.
"You know that people walking through are going to open the drawers," he says. "You have to assume this is no longer your home and people are going to walk through and look at everything."
The trick is to make sure it looks like there's room for plenty more.
And don't make the assumption that people buy according to what they see inside a house.
"The way people enter a home is so important," Gidding says. "The entry is crucial to make people feel safe."
If you don't have a light by the door, install one, he says. If a bulb is burned out, replace it.
If your door doesn't have color on it, paint it, he says. Put flowers on the path and entry. If you have any room for it at all, put some kind of outdoor furniture there, even if it's one piece.
"It shows that there's someone living there who loves the home and your neighborhood and that you appreciate the people around you," he says.
Inside, he says, kitchens and bathrooms are the primary things people look at.
"They don't want to have to do any work on them," he says. "On our show, we do kitchen and bathroom makeovers for under $2,000, so it doesn't have to be expensive; it just has to be thoughtful."
Painting a room can always help, he says. And in the kitchen, simply changing the hardware can make it look great.
Bathrooms should be squeaky-clean, he says. Change the shower curtain and install a new light fixture.
If you're stuck with one of the old industrial mirrors glued to the wall, ask a carpenter to cut four pieces of trim that can be glued directly to the mirror and painted, giving it a framed effect.
"It makes it look that much more high-end and less industrial," Gidding says.
The small things are what change people's impressions, he says. "They're not just buying a house that people are using; they're buying a home that someone really cares about and has spent some time improving and caring for."
His newest show, "Curb Appeal: The Block," goes into neighborhoods where people have complained of an eyesore and renovates the offending home, up to $20,000. The show also goes around the neighborhood and helps people do small things, like add window boxes or other decor that can be seen from the street.
"The whole street is engaged," he says. "By the time we leave, everyone's property values are improving. You'd be surprised to see how many people see us tooling around and feel compelled to come out and do stuff of their own."
http://www.delawareonline.com/article/20100114/LIFE04/1140310
Friday, January 15, 2010
Wednesday, January 13, 2010
Want the most bang for your buck on your home?
Exterior Remodeling Proves Best Bang for Your Buck, Realtors® Report
Washington, December 17, 2009
Despite a slow market and a slight decrease in the resale value of most remodeling projects, Realtors® report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale, according to estimates by Realtors® who completed a recent survey.
On a national level, eight out of the top 10 projects in terms of costs recouped were exterior replacement projects that cost less than $14,000. Certain types of door and siding replacements, as well as wood deck additions all returned more than 80 percent of project costs upon resale. A steel entry door replacement – a new addition to this year’s list – recouped 128.9 percent of costs, followed by upscale fiber-cement sliding replacements at 83.6 percent. Wood deck additions recouped 80.6 percent of costs.
“Once again, this year’s Remodeling Cost vs. Value Report highlights the importance of a home’s first impression,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “With exterior projects returning a high percent of project costs upon resale, Realtors® can help give your home curb appeal while adding value to the real estate transaction.
The 2009 Remodeling Cost vs. Value Report compares construction costs with resale values for 33 midrange and upscale remodeling projects comprising additions, remodels and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the 12th consecutive year that the report, which is produced by Hanley Wood, LLC, was completed in cooperation with REALTOR® Magazine, as Realtors® provided their insight into local markets and buyer home preferences within those markets.
On a national level, the project with the biggest improvement from 2008 was the attic bedroom addition, recouping 83.1 percent of remodeling costs compared to 73.8 percent in 2008. The only other interior project that landed in the top 10 was a minor kitchen remodel with 78.3 percent costs recouped.
Other exterior projects in the top 10 include midrange vinyl and upscale foam-backed vinyl sliding replacements, which returned more than 79 percent of costs. In addition, several types of window replacements – midrange wood, midrange vinyl, and upscale vinyl – all returned more than 76 percent of costs upon sale.
Similar to last year’s report, the least profitable remodeling projects in terms of resale value were home office remodels and sunroom additions, returning only 48.1 percent and 50.7 percent of project costs.
Regionally, cities in the Pacific states of Alaska, California, Hawaii, Oregon and Washington once again outperformed the rest of the nation in terms of remodeling costs recouped upon resale. 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 also performed relatively well.
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 the Middle Atlantic (New York and Pennsylvania).
Golder commented that remodeling projects are just one of many factors that contribute to a home’s overall resale value. “As the first, best source for real estate information, Realtors® are experts in providing insight into what projects and investments will make a difference in your house. It’s important to consult with a Realtor® who can explain the variety of factors that affect a home’s value, such as location, condition of surrounding properties and the regional economic climate,” she said.
Results of the report are summarized in the January issue of REALTOR® Magazine. To read the full project descriptions, access national and regional project data, and download a free PDF containing data for any of the 80 cities covered by the report, visit www.costvsvalue.com. “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®, “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.
http://www.realtor.org/press_room/news_releases/2009/12/exterior_proves
Washington, December 17, 2009
Despite a slow market and a slight decrease in the resale value of most remodeling projects, Realtors® report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale, according to estimates by Realtors® who completed a recent survey.
On a national level, eight out of the top 10 projects in terms of costs recouped were exterior replacement projects that cost less than $14,000. Certain types of door and siding replacements, as well as wood deck additions all returned more than 80 percent of project costs upon resale. A steel entry door replacement – a new addition to this year’s list – recouped 128.9 percent of costs, followed by upscale fiber-cement sliding replacements at 83.6 percent. Wood deck additions recouped 80.6 percent of costs.
“Once again, this year’s Remodeling Cost vs. Value Report highlights the importance of a home’s first impression,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “With exterior projects returning a high percent of project costs upon resale, Realtors® can help give your home curb appeal while adding value to the real estate transaction.
The 2009 Remodeling Cost vs. Value Report compares construction costs with resale values for 33 midrange and upscale remodeling projects comprising additions, remodels and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the 12th consecutive year that the report, which is produced by Hanley Wood, LLC, was completed in cooperation with REALTOR® Magazine, as Realtors® provided their insight into local markets and buyer home preferences within those markets.
On a national level, the project with the biggest improvement from 2008 was the attic bedroom addition, recouping 83.1 percent of remodeling costs compared to 73.8 percent in 2008. The only other interior project that landed in the top 10 was a minor kitchen remodel with 78.3 percent costs recouped.
Other exterior projects in the top 10 include midrange vinyl and upscale foam-backed vinyl sliding replacements, which returned more than 79 percent of costs. In addition, several types of window replacements – midrange wood, midrange vinyl, and upscale vinyl – all returned more than 76 percent of costs upon sale.
Similar to last year’s report, the least profitable remodeling projects in terms of resale value were home office remodels and sunroom additions, returning only 48.1 percent and 50.7 percent of project costs.
Regionally, cities in the Pacific states of Alaska, California, Hawaii, Oregon and Washington once again outperformed the rest of the nation in terms of remodeling costs recouped upon resale. 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 also performed relatively well.
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 the Middle Atlantic (New York and Pennsylvania).
Golder commented that remodeling projects are just one of many factors that contribute to a home’s overall resale value. “As the first, best source for real estate information, Realtors® are experts in providing insight into what projects and investments will make a difference in your house. It’s important to consult with a Realtor® who can explain the variety of factors that affect a home’s value, such as location, condition of surrounding properties and the regional economic climate,” she said.
Results of the report are summarized in the January issue of REALTOR® Magazine. To read the full project descriptions, access national and regional project data, and download a free PDF containing data for any of the 80 cities covered by the report, visit www.costvsvalue.com. “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®, “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.
http://www.realtor.org/press_room/news_releases/2009/12/exterior_proves
Friday, January 8, 2010
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