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Renovate Rather Than Extricate

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Real Estate Agent

It is no secret there are a number of homeowners, who have thought about marketing their homes and moving on to more comfortable digs.  However the current housing market for many has caused difficulties in doing so.

If your family has added a member or two under your less than ample roof, or the kitchen is in major need of updating, there are remedies which present themselves as a silver lining to today's real estate market woes. 

According to the National Association of Home Builders, because of the recession, there are bargain basement prices from contractors, which are coming in at 10% to 40% below what they were during the housing boom.  Increasingly some smart homeowners are simply deciding to hunker down, and stay put - albeit with home renovation, improvements or additions.

Bankrate.com has a great tool, which provides home improvement knowledge, and saving tips.

It can be accessed via: "5 Handy Ways to Save on Home Rehab."

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Myrl Jeffcoat ActiveRain Signature
  

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Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good evening Myrl,

I see many families updating rather than making a move just to get a newer home.

Dec 13, 2010 01:06 PM
Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Central Maryland

Count me in that number. I FINALLY updated my kitchen this year. I did all the design and legwork myself and used IKEA rather than the expensive stuff.

Dec 13, 2010 01:13 PM
Kate Elim
Dockside Realty - Spotsylvania, VA
Realtor 540-226-1964, Selling Homes & Land a

Hi Myrl...What's great is that they will enjoy their home more while helping it appreciate in case they do decide to sell sometime later.

Kate

Dec 13, 2010 01:35 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Dorie - I have seen a number of improvement projects and updating going on as well.  And they have added so much charm to their homes.

Dec 13, 2010 01:43 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Ellie - I do a lot of my own legwork when I do any improvements too.  It makes such a difference.  I also think being involved results in a better outcome.

Dec 13, 2010 01:45 PM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Kate - You are absolutely right.  They are improving their homes, enjoying them for awhile, and if they do decide to sell downwind, they will enjoy the added value the improvements made.

Dec 13, 2010 01:46 PM
Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Myrl, I hadn't heard of this link.  I have just the client for it.  They aren't upside down on their house, love the neighborhood, but think the housing values will rebound and would really prefer to stay.  Thanks for the blog.

Dec 13, 2010 02:00 PM
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

Myrl, I keep telling both buyers and sellers this - buyers when they look at a house want to finish the basement, and sellers, when they know there issues to fix prior to listing. Great link!

Dec 14, 2010 05:28 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

My builder friends have found this whole new market. Now if HGTV would get the message out...
You have a friend in Washington State,
Paul

Dec 14, 2010 05:58 AM
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Myrl, We are hearing that also. If you can't move then renovate, but be careful and shop for those contractor deals that are out there. Don't put too much in, that you won't get back later.

Dec 14, 2010 11:33 AM
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