No sugar coating here: The housing market is in trouble. But some experts say that it will start turning around as early as 2010. So while you’re waiting for it to recover, you might want to reconsider putting off that kitchen redo or landscaping job. “Any changes you make on your house now should increase your home value later,” says Kermit Baker, project director for the Remodeling Futures program at Harvard University. But which projects will yield the most bang for your buck? Take a look at this list, starting with the upgrades most likely to recoup your investment, and then enjoy that gleaming new kitchen.
2. Adding Siding
3. Building a Deck
4. Updating the Kitchen
5. Replacing the Windows
6. Modifying a Bathroom
8. Installing Central Air-Conditioning
9. Fixing up the Basement
10. Putting in a Swimming Pool
Find out why these upgrades work here.
DAILY REAL ESTATE NEWS | THURSDAY, JULY 10, 2014
Home buyers are showing some willingness to pay more for certain amenities in a home, according to the latest PulteGroup Home Index Survey of more than 1,000 adults ages 25 to 65.
What's surprising is that buyers say they'd give up some pretty alluring draws about a property for certain amenities: Forty-four percent surveyed say they're willing to give up a location near public transportation in exchange for certain amenities, and 35 percent say they'd give up better schools and proximity to entertainment and shopping.
So what are these amenities that home buyers want so badly? Fifty-one percent surveyed say they want their next home to be larger than their current residence, and 64 percent say they prefer a move-in ready home.
Among the most important features home buyers identified:
Folding, accordion-style glass doors are popular in the Southwest, while multi-generation floor plans and screened-in porches are popular in the Southeast, according to the survey. In the Northeast, balconies off the kitchen and rooftop terraces are sought-after, while "Jack 'n' Jill" bedrooms are in high demand in the Midwest.
The most important areas to home buyers when choosing a new home: kitchen (29%), bedroom (22%), and living room (18%).
"Consumers today aren't just looking for the biggest house on the block. They're looking for more efficient use of space and a greater area allocated to 'workhorse' spaces, like the kitchen," says Marshall. "Home buyers want unique features and amenities and will do what it takes to find the home they truly want, even if they have to pay more for a move-in ready home."
Source: PulteGroup Home Index
Each month, MAAR releases the Memphis Area Home Sales Report for the previous month's publicly recorded sales in Shelby, Fayette and Tipton counties. The report also includes information on pending sales and active listings. According to a news release posted by MAAR, Memphis-area home sales for June rose 4.4 percent from a year ago, with 1,557 total sales recorded in the Memphis Area Association of REALTORS® MAARdata property records database. Sales increased 26.7 percent from May, when there were 1,229 total sales. Average sales price year-over-year increased 2.1 percent to $165,940. Inventory increased 4.3 percent, with 6,644units listed for sale. YTD sales volume increased 1.9 percent to $1.09 billion. For a complete report, click here.
Maria Krahn is an Affiliate Broker with Marx-Bensdorf, REALTORS... Maria has earned the Senior Real Estate Specialist designation as well as the Accredited Buyer Representative designation..
Maria Krahn, ABR, SRES
5860 Ridgeway Center Pkwy Ste 100
Memphis, TN 38120
Firm License #59679
Agent License #328329