Become an Agent Agent Login

blogs

Homeowners - Exterior Remodeling Projects Prove Best Bang for Your Buck


Submitted by exitrealty on March 2, 2010 - 1:07pm.

Homeowners - Exterior Remodeling Projects Prove Best Bang for Your Buck

Despite a slow market and a slight decrease in the resale value of most remodeling projects, Realtors report that the smartest home improvement investments may also be some of the least expensive. Results from the 2009 Remodeling Cost vs. Value Report show that small-scale exterior projects are the most profitable at resale, according to estimates by Realtors who completed a recent survey.

On a national level, eight out of the top 10 projects in terms of costs recouped were exterior replacement projects that cost less than $14,000. Certain types of door and siding replacements, as well as wood deck additions all returned more than 80% of project costs upon resale. A steel entry door replacement-a new addition to this year's list-recouped 128.9% of costs, followed by upscale fiber-cement sliding replacements at 83.6%. Wood deck additions recouped 80.6% of costs.

"Once again, this year's Remodeling Cost vs. Value Report highlights the importance of a home's first impression," said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. "With exterior projects returning a high percent of project costs upon resale, Realtors can help give your home curb appeal while adding value to the real estate transaction.

The 2009 Remodeling Cost vs. Value Report compares construction costs with resale values for 33 midrange and upscale remodeling projects comprising additions, remodels and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the 12th consecutive year that the report, which is produced by Hanley Wood, LLC, was completed in cooperation with Realtor Magazine, as Realtors provided their insight into local markets and buyer home preferences within those markets.

On a national level, the project with the biggest improvement from 2008 was the attic bedroom addition, recouping 83.1% of remodeling costs compared to 73.8% in 2008. The only other interior project that landed in the top 10 was a minor kitchen remodel with 78.3% costs recouped.

Other exterior projects in the top 10 include midrange vinyl and upscale foam-backed vinyl sliding replacements, which returned more than 79% of costs. In addition, several types of window replacements-midrange wood, midrange vinyl, and upscale vinyl-all returned more than 76% of costs upon sale.

Similar to last year's report, the least profitable remodeling projects in terms of resale value were home office remodels and sunroom additions, returning only 48.1% and 50.7% of project costs.

Regionally, cities in the Pacific states of Alaska, California, Hawaii, Oregon and Washington once again outperformed the rest of the nation in terms of remodeling costs recouped upon resale. The West South Central region of Arkansas, Louisiana, Oklahoma, and Texas; the East South Central region of Alabama, Kentucky, Mississippi and Tennessee; and the South Atlantic region of the District of Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and West Virginia also performed relatively well.

The regions that generally returned the lowest percentage of costs were New England (Connecticut, Massachusetts, Maine, New Hampshire, Rhode Island and Vermont), East North Central (Illinois, Indiana, Michigan, Ohio and Wisconsin), West North Central (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota and South Dakota), and the Middle Atlantic (New York and Pennsylvania).

Golder commented that remodeling projects are just one of many factors that contribute to a home's overall resale value. "As the first, best source for real estate information, Realtors are experts in providing insight into what projects and investments will make a difference in your house. It's important to consult with a Realtor who can explain the variety of factors that affect a home's value, such as location, condition of surrounding properties and the regional economic climate," she said.

For more information, visit www.realtor.org.

Copyright? 2010 RISMedia, The Leader in Real Estate Information Services, All Rights Reserved. This material may not be republished without permission from RISMedia.

exitrealty's blog | add new comment

Tax Credits Provide Outstanding Opportunities for Home Buyers


Submitted by exitrealty on November 10, 2009 - 8:30am.

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers.

 About the First-Time Home Buyer Tax Credit

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.

For sales occurring after November 6, 2009, the Act establishes income limits of $125,000 for single taxpayers and $225,000 for married couples filing joint returns.

The income limits for sales occurring on or after January 1, 2009 and on or before November 6, 2009, are $75,000 for single taxpayers and $150,000 for married taxpayers filing joint returns.

About the Move-Up/Repeat Home Buyer Tax Credit

The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and on or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).

exitrealty's blog | add new comment

Join EXIT Realty Associates


Submitted by exitrealty on September 11, 2009 - 9:18am.
EXIT FORMULA SUMMARY

10% Sponsoring Residuals

When a salesperson is introduced to management and recruited into EXIT, each transaction that they close generates a bonus that's equivalent to 10% of the gross commissions earned by the recruit, payable to the individual who sponsored them into the company. The bonus is paid via EXIT's head office, and not subtracted from the new recruit's commissions. And it continues perpetually for as long as the new recruit stays with EXIT and generates sales.

7% Retirement Residuals

Should an "EXIT" salesperson decide to retire from selling real estate, a "pension plan" is created from the sponsoring bonuses that he or she has established. Also, the retiring salesperson retains the privilege of enhancing this pension plan while in retirement by continuing to sponsor salespeople into the company.

5% Beneficiary Residuals

The sponsoring bonuses you have created turn into a beneficiary residual providing added security for your family.

With EXIT Residuals, you can potentially earn much more than 100%!

The more people you sponsor into EXIT, the more you increase your residual income. EXIT Realty annually pays out many millions of dollars in residual bonus checks as a perpetual "thank you" for helping to build the company.

And all this, with NO DESK FEES!

Isn't it time you considered making the final business decision of your real estate career? Contact us today for detailed information on career opportunities with EXIT Realty Associates. You'll be glad you did!


exitrealty's blog | add new comment

Real Estate is Headed in a Positive Direction


Submitted by exitrealty on August 31, 2009 - 8:36am.

 The housing data released this week was again positive. July New Home Sales rose 10% from June to the highest level since September. Inventories dropped to a 7.5-month supply, which was the lowest level since April 2007. This data follows a similar rise in July Existing Home Sales announced last week.

exitrealty's blog | add new comment

Home Selling Tips


Submitted by exitrealty on August 11, 2009 - 10:43am.
    HOME SELLING TIPS

If you are preparing to make an EXIT from your home, allow an EXIT Realty Associate to guide and advise you throughout the home selling process.

Deciding When to Sell

Do you want to move in time for the kids to start their new schools in September? Do you want to catch the busiest market in your area? What IS the busiest market in your area? When will your new home be ready?

Pricing

Your goal is to price your home for fair market value. This is where the expertise of a real estate agent is key. He or she will take into consideration many factors, including market conditions, comparable homes in your marketplace, your financial needs and then, in consultation with you, determine the best price that will both address your objectives and present your property well to the buying public.

Preparing your Home for Sale

It’s time to see your home through the eyes of potential buyers so when they visit your home, they are able to picture themselves living there.

  • Remove clutter and rearrange furniture to maximize space
  • Clean everything
  • Make all reasonable repairs
  • Add a few special touches

Marketing

Use state-of-the-art tools and marketing methods to expose your home to as many potential buyers as possible. The Multiple Listing Service® is only one of the many tools and media your EXIT Realty Associate will use to effectively market your home for a quick and smooth sale.

exitrealty's blog | add new comment

Valuable tips for homebuyers.


Submitted by Karen LeRosen on July 23, 2009 - 1:57pm.
 HOME BUYING TIPS

Buying a home is one of the biggest financial investments you may ever make. While it is a major commitment and responsibility, it can also be a thrilling experience and a very exciting time in your life. With that said, we would like to congratulate you on your decision to buy a new home! It is always a privilege to hand the homebuyers the keys to their new home and to be there for that first moment of celebrating ownership! We at EXIT Realty thank you for choosing us! Your EXIT Realty Associate will assist you with all aspects of your home purchase – here are a few things to think about:

Get pre-qualified

Prepare now for the financing of your home. Start with a review of your own finances and then work with a qualified mortgage broker or bank to get a clear picture of affordable home options.

Down Payment

A down payment of even a few percent can make a big difference in the types and terms of financing available for the purchase of your home. How much down payment do you have?

Location

Whether you are moving across the country, or across the street, your EXIT Realty Associate will help you find a great community to call home. Commute, schools, shopping, community amenities and places of worship all contribute to your dream neighborhood. No one knows the area better than your EXIT Realty Associate - be sure to share your community wish-list.

Property characteristics

Having a good idea about the characteristics of your desired home will greatly aid your EXIT Realty Associate in finding well-suited properties to show you. He or she will use this as a guide and will be able to tailor your property search accordingly.

Negotiation

Now that you’ve found your dream home, what is the next step? First, you’ll sit down with your EXIT Realty Associate and prepare an offer, otherwise known as a contract. You will want to review it carefully to be sure it states your terms exactly, how much you want to offer, and any applicable contingencies. Your expertly trained and experienced EXIT Realty Associate will work during the negotiation process to ensure the best possible outcome for you and your family.

Karen LeRosen's blog | add new comment

Why YOU should work with Exit Realty Associates.


Submitted by exitrealty on July 23, 2009 - 1:48pm.
WHY WORK WITH EXIT REALTY

Before you make a move, talk to an EXIT Realty Associate.

EXpertise

EXIT Realty Associates are highly trained and knowledgeable

EXperience

In today’s market, experience, patience and perseverance are more important than ever.

EXceeding Your EXpectations

In the end, it’s results that matter. EXpect the best with EXIT Realty.

We invite you to let EXIT Realty help you put all the pieces of your real estate transaction together

exitrealty's blog | add new comment

Welcome to the new Exit Realty Associates Blog


Submitted by Karen LeRosen on July 22, 2009 - 9:48pm.

Check back often for updates and information about local homes for sale, tips for buying or selling your home, realtor news and other things of interest for home buyers or sellers in the Greater Fort Smith area.

Check back often for updates and be sure to tell your friends to check out our new blog at www.exitfortsmith.com/blog

Karen LeRosen's blog | 2 comments
Syndicate content