How You Can Get the Highest Return on Investment Part 2

Hey, everyone! The last time we talked we discussed return rates on home investment projects. Today, I have a few more projects homeowners ask me about.

1. Garage doors - Much like the front door, the garage door is one of the first things a buyer sees. Replacing your dented and damaged garage door can get you a 75 percent investment return.
2. Kitchen Renovations -  This can be replacing cabinet doors or countertops, etc. Such renovations are expensive but they add tremendous value to your home and you can enjoy a beautiful kitchen while you are living there. You’ll get about a 75 percent return as well.
3. Windows - Replacing windows can be an expensive project, but along with adding an aesthetic element it also can save you money on your electricity and heating bill. Expect about a 73 percent return.
4. Renovating the attic into a bedroom -  Again, you will see about a 73 percent return.
5. Finished Basements - Your return depends a lot on what kind of basement you have: is it a walk out? Are there windows? How many features were added to the basement? On average, you can expect about a 70 percent return.
6. Second-story addition - This is a major renovation and not as much of an investment return at 65 percent.
7. Bathroom remodeling - This could be replacing fixtures and other minor updates; you can expect a 65 percent return.

These are few things that can add value to your home. Each property is different, so give me a call and we can discuss how we can add value specific to your home’s needs.

Thanks for watching!

How You Can Get the Highest Return on Investment Part 1

Hey, guys. We’ve been talking a lot about price increases lately. In fact, in the last 12 months we’ve had the highest price increases since 2006.

Because of this, a lot of homeowner’s have finally gotten around to those home projects they’ve been avoiding. A lot of homeowners want to know what type of financial return they can expect from their projects.

Well, for the average project you can expect about a 60 percent return. I have a list, though, of some things you can do to improve your home and get a higher return!

1. Front door. Your front door is the threshold of your home. It’s one of the very first impressions the buyer has. Find a complimentary color and a design that matches the home. You can expect around an 86 percent return.
2. Siding. It’s important for your home to be up-to-date. A popular siding is hardiplank. Adding or replacing siding can give you an investment return of around 80 percent!
3. Deck. Everyone loves a good deck to enjoy beautiful weather or to have friends over for entertaining. If you build a sizable deck (around 10x16) you can see a return of 77 percent.

These are just a few things that add tremendous value to your home. Next week I’ll have even more for you!

If you have any questions, please give me a call at 814.880.2308!

How Can a Seller Be Involved In the Process of Their Home?

Welcome back to my video blog!

What can a seller do to help during the process?

 I believe in four different things that can help get to a successful closing:

1.    Price: Buyers in this market are educated and they don’t want to pay too much for a home. Pricing properly is important because you don’t want to leave money on the table and you also don’t want to turnoff the buyers.

2.    Presentation: Sellers want to be able to see themselves living in your home. Sellers need to de-clutter and depersonalize the home; make sure it’s clean and in good condition.

3.    Buyer Home Warranty: A warranty really makes the buyer feel more comfortable with purchasing the home in case anything were to happen in the first year. For $400, you can enhance the value of your home by thousands.

4.    Compensation: Real estate agents are trying to make a living like everyone else. Offer a competitive commission rate so your agent is excited and motivated to sell your home.

These are four important sellers’ tools! Thank you for joining me. If you or anyone you know is considering buying or selling or if you just have some questions, please give me a call!

What's Changing the Momentum of Our Market?

Is anything happening right now that has affected the momentum of the market?

There has been a lot of excitement about how the market has turned around nationally and locally. We’ve had inventory issues, a surge of buyers, etc.

I think sellers are starting to feel a lot more robust about things and maybe a little bit over confident. Interest rates are starting to rear their ugly head.

As agents, we have to be concerned with buyers and their pre-approval letters. If they have a pre-approval from three months ago, but interest rates have increased by a point, that changes the game. If you are looking at a home for $360,000, your payment has gone up by $300 a month. This is a huge impact on the amount of money a bank is comfortable with lending as well as a huge impact on what a buyer can financially do.

So, sellers need to recognize now is the time to put their home on the market before interest rates increase more.

Give me a call at 814.880.23208 so we can get started on your next real estate move!

What Can We Expect for the Rest of 2013?

Check out our Free Home Value Report to see how much your neighbors sold their homes for!

What price points are selling and what can we expect to see the rest of the year?

Any homes priced up to $250,000 are doing remarkable. If a home is priced fairly and in good showing condition, it can sell in a matter of days.

There is also exciting news for homeowners in the higher price range. Currently in State College there are five active homes on the market and eight in pending sales. That is a great ratio of homes under contract vs. homes available.

There are only about 750 active listings. Unless there is an increase in inventory, it will remain a sellers’ market. Buyers made be frustrated with their limited selection, but builders are starting to dig and build again. A great sign for our economy!

Market Update June 2013

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What are the common misconceptions about the state of the current market?

The market is clearly changing and there are two common misconceptions about what is happening. The first of which is some sellers are afraid their home won’t be received well on the market; that it is still a poor sellers’ market. This fear, along with lack of new construction and a boom of nuclear families is a main reason for the lack of inventory.

The other misconception is the opposite. Some sellers are a tad overzealous about the market and feel they can sell their home at any price and in any condition. It’s important no matter how great of a sellers’ market it is that your home be priced properly and in good showing condition.

If you want to sell your home, call me at 818.880.2308 or send me an email at christurleykbb@comcast.net.

Choosing a Real Estate Agent That Invests in Themselves Pays Dividends In Your Home Buying and Selling Experiences

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Getting a real estate license is easy. In most states it’s a matter of taking a class, putting in some hours of classroom time or even online and then taking a test. But the real test is out in the real world. Until there is ample experience, knowledge gained that comes from that experience and the track record developed from years of working on successful transactions (even unsuccessful ones), you won’t really know if your agent is cut out for it. As your neighbor, friend and member of the same community – I’m here to tell you what sets me apart from the rest.

A Commitment to Constant Improvement

Each year, I spend a lot of time – plenty of money and the energy that goes along with a long-term commitment to self-improvement. I invest in my team, with a commitment to gain leverage with unique industry techniques that continue to set my team and I apart. I make sure to be on top of all the latest technology, tools and innovation that ultimately translates to better business for me and top-notch results for you.

The bottom line is that you want the best home buying or selling experience possible. And I make sure I do what it takes to be equipped with those skills and knowledge necessary to make it happen.

Today’s video is coming to your from Toronto, where we’re at the latest Mike Ferry Organization conference. Mike Ferry is an international real estate coaching expert. Google him and you will find millions of hits with success stories, a long track record of innovation and solid marketing concepts. Every time I attend one of his conferences, I walk away with a newfound wealth of knowledge and immediately apply that knowledge so my clients can reap the benefits and enjoy the positive impact of best-in-class business. Not only that, at each one of these events I am met with countless other of our nation’s top-producing agents. We share and compare each others’ secrets to success and we openly discuss what works in today’s market. The Mike Ferry Organization constantly updates me on what’s new and in turn, I pass it on to my buyers and sellers; all the while remaining accountable.

Wouldn’t you want to work with someone that values what they have to offer you? Real estate is an ever-evolving industry that continues to generate new and exciting concepts. I’m proud to share that in my quest to constantly improve the way I do business, my clients also benefit and prosper.

To start getting best in class service, I invite you to call today for a customized consultation so we can talk about your home buying or selling needs.