Archive for February, 2012
Home Remodeling is on the Rebound
February 22nd, 2012 categories: Real Estate News
Residential contractors are hoping that tight-fisted consumers will decide they need a new bathroom- or maybe it’s time for those old kitchen counters to go! Perhaps it would be better to add another bedroom than move?
After 3 years of slumping business, builders anticipate that the home remodeling and improvement sector will pick up in 2012. “We have been in a downturn and a weak market for a really long time,” said Paul Emrath, a researcher with the National Association of Home Builders. “But we are starting to edge up to the tipping point.”
“The phones are ringing, people are calling and making appointments,” Emrath said recently at the association’s annual meeting in Florida. “But the challenge is to turn those over into actual jobs.”
In 2011, U.S. residential remodeling added up to an estimated $279 billion, about the same as in 2010 but down almost 15% from 2007. And new home starts have fallen more than 70% around the country since the market peak in 2005.
“All things considered, remodeling has held up well in this cycle,” said Kermit Baker, a senior fellow at Harvard University’s Joint Center for Housing Studies. “We think we are going to see better numbers coming out of the industry as we move into the second half of this year and into 2013,” he said.
The National Association of Home Builders is forecasting an almost 9 percent increase in remodeling this year and more than an 11% jump nationwide in 2013.
Houston, Dallas, and Austin are all ranked among the top five home fix-up markets for 2012, according to a new forecast by Remodeling Magazine.
More than half of the home remodeling projects last year cost in excess of $25,000. And total home remodeling and improvement expenditures now add up to more dollars than new-home construction, according to the builders association.
Remodeling accounts for close to 70% of U.S. residential construction expenditures. The biggest share of home improvement spending, roughly 20%, goes for exterior repairs or upgrades. But kitchen and bathroom jobs are a close 2nd at 19% of remodeling work.
Some of the glitzy fix-up jobs of years past are on hold, regardless of what they show on home decorating TV shows. “The growth we saw in the industry in the early and middle part of the last decade was driven by a lot of upper-end discretionary projects,” Baker said.
“When pre-owned home sales pick up, that will help the industry,” he said. “The time of purchase- particularly if you are buying an older home is the most common time for undertaking a home improvement project,” Baker said
Source: The Orlando Sentinel and MCT Info Services
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Top Five Kitchen Projects
February 17th, 2012 categories: Home Improvements and Design
A kitchen remodel is one of the best ways to add value to your home and recoup your investment- as much as 80 percent! That’s why Americans spend about $15 billion each year on kitchen renovations. Upgrade your lifestyle and resale value with these top 5 kitchen projects:
- Upgrading Appliances. Your appliances work hard, but they shouldn’t look worn out. From the refrigerator to the range, think modern and functional!
- Countertops. When it comes to your counters, sinks and faucets, beware of “over-improving.” Stick to what’s standard in your area.
- Cabinets. Before you replace the cabinets, see if a fresh coat of paint and stylish hardware are enough to update them.
- Flooring. Your kitchen floor needs to stand up to a lot of foot traffic and potential spills. From linoleum to ceramic tile, explore your options.
- Organization. Keep counters clear by ensuring your kitchen has adequate storage space. Think built-in shelves and drawer organizers.
If you or someone you know is looking for ways to improve your home before selling it, feel free to call or email me for a free consultation. Also, please like us on Facebook. We look forward to connecting with you!
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Tips for Sellers to Prepare for Spring
February 15th, 2012 categories: Home Improvements and Design, Sellers
There are still a few more weeks left of winter but sources say it is always good to prepare for changes coming in the next season. The Nest magazine has come up with a list of ways homeowners can get their home ready for spring.
While many homeowners focus on spring cleaning the inside of their home, the magazine says to remember the outside too–Especially if you are planning to list your home for sale in the spring! Cleaning outdoor fixtures after the winter can make them look new and while replacing burnt-out bulbs, homeowners can update them to more energy-efficient bulbs that can also help lower monthly electric bills.
To freshen up the rest of the home’s exterior, we recommend polishing the hinges and knobs on the front door while adding a fresh coat of paint to the door and buying a brand new welcome mat; this can make homes look fresh and bright. Homeowners should also repair any walkways that were damaged during the winter months.
The winter season is a great time to plan for spring gardening, so homeowners should take advantage of bare branches that can easily be cut back during the colder months.
If you or someone you know is thinking of listing their home for sale, feel free to call or email me for a free consultation. Also, please like us on Facebook to keep up with real estate news and great tips like these. We look forward to connecting with you!
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Homeowner Tips to Make Appliances Last Longer
February 9th, 2012 categories: Home Improvements and Design
For many homeowners, some of the most expensive improvements are repairing or replacing household appliances. Good Housekeeping magazine has come up with a list of ways homeowners can ensure their appliances last throughout their intended lifespan and even longer.
In the kitchen, homeowners should be sure to clean the refrigerator as often as possible. The source reports that cleaning underneath the appliance will help prevent dirt and other debris from interrupting the appliance’s air circulation.
Ovens and microwaves should also be kept clean as leftover food can affect the appliance’s cooking times. For the oven, the source says only use commercial cleaners as some other chemicals may increase fire hazards. Microwave keypads should be cleaned with only water as cleaining solutions can cause electrical malfunctions.
Air heating and cooling systems can be the mose expensive replacements, so the source says homeowners should clean or change filters frequently.
Washing machines should also never be overloaded to prevent knocking the appliance off balance. For dryers, the source says homeowners should clean the lint filter after each load of laundry so that air can circulate through the machine. A build-up of lent can also cause a fire.
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Source: Good Housekeeping.
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Kitchens Sell Homes
February 6th, 2012 categories: Home Improvements and Design, Sellers
A Kitchen Can Sell a House. A kitchen is the heart of a home. Kitchens are where we spend much of our time and most of that is with our family and friends. It’s the room where we nourish our bodies and our spirits.
This means buyers want homes with up-to-date kitchens. Kitchens, however, can be one of the most expensive rooms to renovate. These projects can also be the most labor intensive of all home renovations because it’s not just a layer of new paint.
So what do buyers look for in up-to-date- kitchens? A lot of this depends on what price range your home is in. The main thing to remember as a seller is to not price yourself out of your market. If homes in your neighborhood are selling for $100,000 with tidy, but not luxurious kitchens, then this is NO time to upgrade to granite, travertine, and marble that costs $40,000+. You simply won’t find a buyer!
Scope out the competition. Use open houses in your area or MLS listings to find out what your competition’s kitchens look like. Do area homes have new solid wood cabinets and granite counters in today’s designer colors? You’ll be wise to consider making the same move. Are they including new stainless steel appliances and add-ons like dishwashers, wine-coolers, and trash compactors?
Are you in a higher-end neighborhood? It’s time to think high-end. Your older home may have a highly functional kitchen, but a buyer will take one look at your formica counters and white appliances and become lost in the stress of how much money and time it would take to remodel. If you don’t want to put in the time yourself to make upgrades, then you’ll have to make consessions in the price.
Some kitchens might only need a few minor changes, such as changing the paint color to a warm neutral tone, getting rid of any clutter, updating your appliances, painting your cabinets, changing the pulls, or getting a high-end looking counter for a fraction of the cost (faux granite or lower end granite). You might even save a bundle by doing much of the work yourself.
The bottom line is a kitchen can sell a home. Do a little research and feel free to contact us at Kathy Villa Real Estate for a free consultation. We look forward to connecting with you!
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