news: 6 Renovation Projects that Make $ense
- 02/15/07 07:35 AM
KNOW WHICH UPDATES WILL PAY OFF THE MOST1. High-end siding replacement - It might not be as sexy as a new kitchen or bathroom remodel, yet a large-scale siding project - replacing at least 1,250 square feet of existing siding with new fiber cement siding, and including 4/4 and 5/4 trim using either fiber-cement boards or PVC lumber returned 103 percent of its average $10,393 cost. Siding is most popular in the East, fetching 115 percent of its cost. A more budget -conscious vinyl-siding replacement including trim returned 95.5 percent of its cost.2. Midrange bathroom upgra de -Updating an existing 5-foot-by-7 … (0 comments)
news: 2006 Third Highest sales year on record
- 01/29/07 03:32 AM
Total existing-home sales - Total existing-home sales - including single family, townhomes, condominiums and co-ops eased 0.8 percent to a seasonally adjusted annual rate 1 of 6.22 million units in December from a level of 6.27 million in November. Sales were 7.9 percent lower than a 6.75 million-unit pace in December 2005.There were 6,480,000 existing-home sales in all of 2006, down 8.4 percent from a record 7,075,000 in 2005. The second highest total was 6,779,000 in 2004; NAR began tracking home sales in 1968.David Lereah, NAR chief economist, said home sales remain historically high. "Despite all of the doom-and-gloom stories and … (0 comments)
news: Quick Fixes that Add Value to a Home
- 01/18/07 06:59 AM
If you or your clients are planning to sell their homes and don't want to take on large renovation projects, suggest the following quick fixes, which can help them maximize property value and appeal:
Clients should stand outside their homes and take an objective look. They can boost their home's curb appeal by tidying flowerbeds, putting mulch around tree and shrub bases, and clearing foliage away from windows If time and budget allow, suggest that your clients paint the home's exterior with a neutral color and a contrasting trim coat. Experts say a fresh coat of exterior paint can boost a … (1 comments)
news: PMI Makes changes to tax deductibility!!!
- 01/14/07 05:37 AM
For the 2007 tax year, the Congress is allowing Mortgage Insurance to be TAX DEDUCTIBLE for families with ADJUSTED GROSS INCOMES (AGI) up to $109,000!! (To get full credit for the PMI, the borrowers' AGI cannot exceed$100,000; the eligibility is reduced by 10% up to a max AGI of $109,000)Remember, this is AGI, which means that borrowers with householdunadjusted gross incomes possibly as high as $125,000 can qualify forthis benefit!!Why is this important?? In recent weeks, the rates, and cost, forsecond trust financing has skyrocketed, due to investor worries aboutincreased levels of foreclosure. These second trust products are not as attractive … (3 comments)
news: Why You Should Renovate?
- 01/10/07 02:18 AM
Renovation experts agree that renovation just to improve resale value isn't necessarily wise, in part because you can't be sure of getting your money back. In fact, few projects yield dollar-to-dollar returns.Your focus should be on improvements that make you and your family happy and more comfortable, and ones that keep your property maintained, safe and efficient.Some experts also say that no renovation project is worth undertaking unless you plan on staying in your home at least three or four years. The rationale is simple: the longer you stay in the house, the more likely you are to recoup your costs … (0 comments)
news: Existing Homes Sales in 2007 Expected to Recover From Cyclical Low
- 12/13/06 02:11 AM
by Waltor Molony NAR, WASHINGTON, December 11, 2006 Existing-home sales are expected to rise gradually in 2007 from current levels, with annual totals comparable to 2006, while new-home sales will continue to slide, according to the latest forecast by the National Association of Realtors®. David Lereah, NAR’s chief economist, said there are mixed conditions around the United States. “Roughly three-quarters of the country will experience a sluggish expansion in 2007, while other areas should continue to contract for at least part of the year,” he said. “Most of the correction in home prices is behind us, but general gains … (2 comments)
news: Housing Downswing Expected to Bottom Out and Go Up !!
- 11/17/06 07:15 AM
The current real estate market slow down is temporary according to RIS Media, a leading Real Estate Informational tool. The market is expected to reverse back to growth in mid-2008. This is a fantastic opportunity for buyers to seize this day! The following is taken from recent RIS Media release: The National Association of Home Builders (NAHB) told Congress that the current downswing in home sales and housing production following the record housing boom of 2004-2005 is expected to bottom out around the middle of next year and gradually move back up toward trend by late 2008.Testifying before the Senate Economic … (0 comments)
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KNOW WHICH UPDATES WILL PAY OFF THE MOST1. High-end siding replacement - It might not be as sexy as a new kitchen or bathroom remodel, yet a large-scale siding project - replacing at least 1,250 square feet of existing siding with new fiber cement siding, and including 4/4 and 5/4 trim using either fiber-cement boards or PVC lumber returned 103 percent of its average $10,393 cost. Siding is most popular in the East, fetching 115 percent of its cost. A more budget -conscious vinyl-siding replacement including trim returned 95.5 percent of its cost.2. Midrange bathroom upgra de -Updating an existing 5-foot-by-7 … (0 comments)
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