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Real Estate News and Advice ☛My Realty Times.
So, you want to redo or add something to your home. Have you ever asked yourself what you could do to improve your home but want to make sure you re-coup the costs if you ever sold the home. Or perhaps you just want to get more value from the home you plan to sell but you want to get the best value from the project.
A new front door to a minor or major kitchen remodel, where do you get the best return for the dollar?!
As a professional real estate consultant, it can be difficult for a home owner to understand a project that a homeowner added to their home is not necessarily going to give them the best return for their money, as it always depends on what the buyer is looking for. In fact, some home owners can over improve their home and loose money, based on the market in their neighborhood.
Remember, if you think a pool should get the same value out that you put in, this is not true. Usually it is something you did for your enjoyment. It may not be something everyone wants. As you know, some families don’t want a pool…hard to imagine for some, but they may have small children and consider it a safety issue or just don’t want to have the maintenance and upkeep a pool requires.
So before you do those improvements get THE FREE Cost vs. Value GUIDE to see where you can get the most for your improvements. DONT FORGET TO USE THIS CODE: CV2015
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Two recently released reports reveal that the American public is starting to feel much better about the U.S. economy. The University of Michigan’s Surveys of Consumersshowed that:
“Consumer optimism reached the highest level in the past decade in the January 2015 survey…Consumers judged prospects for the national economy as the best in a decade, with half of all consumers expecting the economic expansion will continue for another five years. The anticipated strength in the overall economy has been accompanied by more favorable income and employment expectations.”
As all consumers are feeling more optimistic, more young adults are moving out of their parents’ basements and into a residence of their own. The recent Census report shows that new household formations skyrocketed in 2014. Below is a chart showing the historical significance of the numbers:
The economy is definitely improving and, more importantly, the American consumer is beginning to feel much more confident. This should lead to a very robust real estate market in 2015.