There are many ways of giving your home a makeover and many reasons to do so, but one of the best reasons is to make your living space more comfortable, more cozy, and more like home. One often neglected area during renovations is the bedroom – we all think of redoing our kitchens, our bathrooms and even the living rooms. But when it comes to our bedrooms, we don’t seem to want to change anything about it. Perhaps it is the fact that not many people see your bedroom; perhaps it is because you don’t think renovating your bedroom adds to the value of your home; whatever the reason, it’s time to put it to bed and use these five simple and easy ways to redo your bedroom:

• Revamp the curtains: If your bedroom windows are large, use curtains to good effect to dress up your room. Instead of going in for the readymade stuff available in stores, buy suitable material and get them stitched to match the size and tone of your windows. When you color code your curtains and the walls in your room, you provide a first and lasting effect to people who walk in.
• Invest in new bed sheets and covers: Do up your bed in bright colors and bold textures, suitably in colors that match your wall and curtains. And make sure you have more than just one pillow on the bed. Put a few on the cover just for effect, and make sure your bed is neat at all times, except when you’re in it off course.
• Use a carpet to good effect: A small carpet that fits in by the side of your bed or under your table in the bedroom makes a good addition to any bedroom. Make sure the carpet is soft to step on because it’s what you’re going to be stepping in every morning when you wake up.
• Throw in some personal effects: No bedroom is perfect without a few personal effects, so put up some pictures in vantage positions. Bring in a lamp for your table and keep a vase of fresh flowers on your window sill or on the bedside table. If you like to read, bring in a book case as well, one that goes with the décor of your room.
• Do up your lighting: The best way to provide your bedroom with both comfort and good looks is through the lighting – get help from a professional as to where to position your lights so that they are bright enough without being obtrusive. When your bedroom is well lit, yet not too bright, it shows all your other accessories in good light, literally.

This guest article was written by Elizabeth Johnson, who regularly writes on the topic of online construction management degrees.

If you’re selling your home, or thinking of selling your home, you probably are facing a fierce competitor — that foreclosed home down the street.

The bank is eager to get rid of it. So the biggest challenge you’ll face is price, and price is something you’ll have to come to grips with early in the process.

However, there are ways you can set your property apart from foreclosures and give yourself an edge when sellers are comparing properties.

1. First, see if your neighborhood has foreclosed properties — if you can, you might want to wait until they are sold before listing your home.

Next, figure out a suitable price. Appraisers no longer take into account if a home next to yours is a foreclosure — a comp is a comp. Simply put, the risk factor of buying a foreclosure is no longer considered as high. Also, buyers can still do due diligence on the home — they have the time to do an inspection of the home, and they can still back out of a deal if something risky arises in the process.

2. The one factor where your home will stand out is its livability. A vacant home feels cold and sterile, while one that’s occupied has a cozier feel that’s more attractive to would-be buyers. Exercise this advantage when showing your home, and put extra effort into staging.

3. With all of the foreclosures on the market, many of these homes are being seen at their worst. Keep your home nice and clean and well-maintained. If people can see clearly that it’s a well-cared-for home — and will have fewer potential headaches for them — it will attract more positive attention.

4. Keep a vivid paper trail and photos of work, like any remodeling work, that you’ve done on your home to show potential buyers. This kind of information can be hard to track down on a foreclosure. This will increase buyers’ confidence about considering your home for purchase.

5. Finally, get real about the new market. Things are getting better, but there are still challenges for buyers, including the challenges of nailing down home loans. Be respectful of that.

And buyers themselves are very aggressive about getting a good deal. So don’t be insulted by a low offer; work with any offer to see if you can meet halfway. You know the bank will be doing the same with its foreclosure.

Source: Relocation.com

It’s not surprising that pools are most popular in California, Arizona, and Florida, where the summers are hot and the year-round temperature warm. But even though the National Association of REALTORS® say pools can add as much as 8 percent to the value of a home in these states, not all home buyers will see the value. Families with young children, older home buyers, or those not interested in the upkeep of a pool may not even consider a pool home. Of course, in areas where the winters are cold, a pool can even detract from the home value.

Yet, it’s hard to overlook the benefits of a pool, especially when you live in Florida like I do. It’s a great way to cool off in hot weather, they are a great focal point for entertaining, and let’s face it, kids love them. So if you’re thinking about installing a pool, do it for the fun factor if it’s something you desire, not as a tactic to increase your home’s value or attract buyers.

If you watch Curb Appeal on HGTV, you may think improving your home’s curb appeal requires expensive upgrades.  There’s no doubt that adding faux stone to the exterior or adding a covered front porch will seriously spiff up your home’s curb appeal, but these quick and affordable fixes will still do wonders:

Maintain the yard – A few hours of hard work in the lawn makes a big difference.  Keep the lawn mowed, pull weeds, trim shrubs and trees, and mulch flower beds.

Clean windows inside and out – remove old cobwebs, repair torn screens and broken glass, and pay attention to how your window treatments look from the outside.

Use light for that homey feeling – while your existing light fixtures should be kept clean and in working order, consider installing additional fixtures to illuminate the walkway or landscaping.

Pressure wash surfaces – driveways, walkways, and the exterior walls of your home, including brick and stone, can look brand new with a good pressure washing.

Add finishing touches – nothing says home like a rocking chair on the front porch or a pot of flowers.  Keep walkways and doorways swept, and consider hanging a wreath on the front door.

Remember, your home’s curb appeal will entice prospective buyer’s to take a closer look and even schedule a showing.  Good luck!

When deciding which remodeling projects will get you the most bang for your buck and attract potential homebuyers, opt for the outside.  According to the 2008 Remodeling Cost vs. Value Report, exterior remodeling projects return the most money as a percentage of cost.

On a national level, wood deck additions and all types of siding replacements returned more than 80 percent of costs upon resale.  Window replacements also return a high percentage of remodeling costs.

Here is a breakdown of the percentage of project costs returned for major remodeling efforts:

Wood Decks – 81.8%
Siding Replacement – more than 80%
Window Replacements – more than 76%
Kitchens – 76%
Bathrooms – 74.4%
Attic-to-Bedroom Conversion – 73.6%
Basement Remodel – 72.7%
Back-Up Power Generators – 57.1%
Sunroom Additions – 56.6%
Home Office Remodels - 54.4%

Of course, the resale value depends on a variety of factors.  Before you begin any remodeling project, whether it’s just a spruce-up or a major remodel, talk to local real estate agents and contractors to determine what is attracting homebuyers. The most important factor is to make sure the home is up to the standard of others in the neighborhood.

eppraisal.com recently relaunched their Professional Directory, allowing people to search for real estate professionals in their hometown. The Directory includes more than 1.5 million real estate agents and home inspectors. Additional professionals will soon be added, such as mortgage brokers, contractors, and landscapers.

If you’re interested in buying, selling, or planning home improvements, search for a local professional who will meet your needs.

Search the directory.

Are you a real estate professional? Join the directory.

With large inventories of homes for sale, buyers seemingly have the upper hand. Though there has been some good news lately in many markets throughout the country, such as a rise in existing homes sales, it has been balanced by record declines in median sales values. This mixed news can make it tough for homeowners when they have to make a choice between selling a home and renting it out. There are quite a few questions you can ask yourself when making this choice.

The most basic question is: Will my income exceed my expenses?

This question can be much more complicated than it first appears, due to the following questions it raises in turn:

• Do you have time and are you able and willing to manage a rental property, or should you hire a rental management company?
• Are you aware of the tax implications that renting your home can have for you?
• Can you ensure your rental property will have 100% occupancy?
• What are expected repair and maintenance costs? Most experts believe you should set aside anywhere from 20 to 30 percent of the rent in reserve for such items.

If you have done the research and uncovered all the pitfalls, there are many advantages to being a landlord. You could potentially make a profit on your rental home while building equity at the expense of the renter. Waiting for prices to start to swing upwards in this market may be the single best source of equity gain you can have over the next several years.

Whatever you decide, make sure you take full advantage of resources and get feedback from multiple rental management companies and real estate agents. They will know best about either side (rental and sales) of the real estate market and help you make an informed and advantageous decision. As always — take full advantage of the internet and sites like eppraisal.com to help track local market conditions.

In today’s housing market, many homeowners and investors are taking extra steps to make their houses more attractive to potential buyers who continue to hold a huge advantage when it comes to choices and prices. But which remodeling projects will garner you the highest returns — or even the most interest from local buyers?

Two or three years ago, you could spend five figures or more on an interior remodeling project and expect to recoup that money easily and quickly when selling your property. Today, according to real estate agents nationwide who participate in Remodeling magazine’s annual “Cost vs. Value Report,” the remodeling ROI is trending ever downward (http://costvalue.remodelingmagazine.com).

Paige Martin, a Houston-based real estate agent with Martha Turner Properties, thinks the reason for the negative trend has more to do with slower appreciation rates and rising remodeling costs than the current sluggish market.

Remodeling analyst Kelly Reidinger agrees. The longer you plan to stay in a home, the more likely you’ll recoup the costs of the remodel when the house is sold, she says. But often, people plan a major remodel with an eye toward selling in a year or two. If that’s the case, says Reidinger, it’s better to consider smaller projects in which you modernize or add a few upgrades.

As always, location counts

Everyone knows that with real estate, location is key. So it should come as no surprise that where you live — or where your investment property is located — can make a significant difference in how much of your remodeling investment you’ll recover at closing.

“While the percentage of costs returned in Mid-Atlantic and New England cities is fairly constant year to year, within California, Oregon, and Washington remodeling costs recouped at resale are over 10 percent greater than the national average,” Martin explains.

“Cities in the Southeast and Southwest that are experiencing a building boom actually fall below the national average when it comes to recouping home improvement costs,” adds Martin. “One explanation for this trend is the fact that because these areas have plenty of new homes lingering on the market and falling in price, buyers are turning their backs on even the most attractive renovated older homes.”

Start with the outside

However, if you really want to do a big remodeling project that will attract potential homebuyers, the experts suggest taking it outside.

“Hardscapes like decks, patios, fences, and gates will recoup almost dollar for dollar what you spent on the house’s resale value,” Reidinger says.

In fact, decks are one of the best resale investments right now, according to the “Cost vs. Value Report,” with 85.4 percent of the cost of a wood deck addition recouped when the house is sold.

A new exterior on the home is another remodeling plus, according to Ben Black and Andy Holmes of Ole South Remodeling.

“When people buy a home, they want something maintenance-free,” says Black. “That means a new roof and new siding.” Especially popular right now is fiber-cement siding, he adds, because it’s durable and doesn’t need paint touch-ups.

Because the latest buzzword in the housing market is “green,” an energy-efficient home is more attractive in a crowded housing market. Windows, especially wood-framed windows, should be replaced, and appliances and other fixtures should be of the highest energy standards.

And while outdoor living and recreation space can add to a home’s value, don’t over-think or over-design the landscaping. Although the house should have curbside appeal and the landscaping should be attractive, spending thousands of dollars on ponds and ornamental trees will do little to boost the home’s value.

Think simple on the inside

Investors and homeowners alike usually pick kitchens and bathrooms as their first areas for remodel. But the experts agree any changes in these rooms can be relatively minor if the main purpose is to improve resale value.

It’s quite another matter, however, if you’re working on your personal home, and you plan to stay there for several years. “If your hobby is gourmet cooking, then by all means go all out on the kitchen remodel,” says Reidinger. “You need to take your quality of life into the decision as well as the monetary value.”

Otherwise, a kitchen or bathroom remodeling project should focus on sprucing up the room with small touches. For example, instead of replacing cabinetry — one of the biggest expenses in a kitchen remodel — refinish the cabinets and replace the hardware and other fixtures.

“Get rid of the brass,” says Holmes, explaining that brass fixtures in the kitchen and the bathroom are dated. Also, anytime you’re remodeling the bathroom in an investment property, you should skip the Jacuzzi tubs and focus on installing larger showers.

The No. 1 remodeling project to avoid is turning a spare room into a home office. Even though more people are working from home, the home office recoups only slightly more than half of its initial costs.

In fact, Reidinger says remodeling a spare bedroom into some other type of living space is the worst move a homeowner can make; it completely knocks down the resale value of the home. “Bedrooms and bathrooms sell houses,” she says.

If you must remodel a bedroom — or if you’re adding a spare room that could possibly be used as an extra bedroom — make sure you either leave or add a closet. “As long as you leave the closet, the room can be marketed as a bedroom,” adds Reidinger.

Stick with what works locally

There are, however, differing opinions about some remodeling projects. The “Cost vs. Value Report” states that sunrooms recoup only 59.1 percent of their value — third worst on the survey above a home-office addition or a built-in, back-up generator system. But Black and Holmes say sunrooms are popular amenities in their area of Tennessee. Reidinger advises against garage conversions; Black and Holmes are seeing a brisk business in that area.

So, before you begin any remodeling project, whether it’s just a spruce-up or a major remodel, Black and Holmes recommend talking to real estate agents and contractors in your area to determine what is attracting homebuyers. And the most important factor, they say, is to make sure the home is up to the standard of others in the neighborhood.

And remember, simple touches can be all you need. For example, in many homes replacing the lighting fixtures with a more modern option and adding crown molding can make a world of difference in how quickly the house sells.

“People are particular,” Reidinger says. “No matter what you do, the new owners will make the house fit their needs. So it’s best to do as little as possible if you are planning to sell the house soon.”

Source: Growing Wealth

by Reed M. Sawyer

Even in today’s market, it’s possible to sell your property quickly. The bottom line: Your house must stand out from the competition.

Here are five tips to help you sell a house in a slow market:

1. Hire a professional photographer

Get pictures taken of the front of the house, backyard, kitchen, living room, master bedroom, master bath, and any other rooms of interest, and use those pictures in your marketing.

2. Work with a mortgage broker

Mortgage brokers can qualify prospects for income and credit, and then set appointments to bring qualified buyers to see your house. Most mortgage brokers are delighted to qualify buyers, because they’ll get more loans to originate.

3. Get a home warranty/home inspection

To provide your prospective buyers with confidence, have a professional home inspection completed — and set up the inspection so you have the right to validate it within three months for free or a small fee. If the inspector lists any deficiencies, repair them. After your improvements are made, have the property re-inspected, and show that inspection to prospective buyers.

If the house is in great shape, you can also pay a few hundred dollars for a home warranty that will “insure” the appliances for two years. Having a home warranty gives you a great advantage — especially if you’re selling an older home — because it reduces the buyer’s risks.

4. Make it sparkle

Clean is golden. People are attracted to houses that look and smell clean; they can’t see themselves living in a home that contains other people’s dirt or pet smells. If you have to hire a professional cleaning service, do it.

And don’t forget the outside: Mow and edge the lawn; trim trees; plant bright, cheerful flowers; and pressure wash your driveway and sidewalks.

5. Add modern touches

Wiring each room for Internet and cable access or installing a home theatre or sound system will set your home apart from the rest.

Your house has a lot of competition right now. To sell it quickly, you need to be willing to go the extra mile. Often, that means putting forth some extra money; but it can also mean stepping back with an objective eye and putting in a few days of good old-fashioned elbow grease.

If you make the extra effort, you’ll be giving yourself — and your property — every advantage.

Source: Growing Wealth

We have heard some crazy stories in our time but this piece in the Wall Street Journal Real Estate Section takes the cake. It seems that some home owners are turning to burying a statue of the Catholic St. Joseph in their lawns to help sell their homes! And on the Internet you can purchase a St. Joseph Real Estate Kit.

“In Catholicism, St. Joseph, a carpenter, is honored as the husband of Mary and foster father of Jesus. Representing a humble family man, he is the patron saint of home, family and house-hunting, according to the Rev. James Martin, a Jesuit priest and author of “My Life With the Saints.” Popular belief holds that people who wish to enlist St. Joseph’s help in selling a house should bury his replica upside-down in the yard. (Apartment dwellers are advised to put him in a potted plant.)”

You can read more of this story at http://online.wsj.com/article/SB119370066239175607.html if you have a subscription.

Now we know the National Association of Realtors reported home sales dropping by 8% in September but this may be taking it a bit too far. Do you have a “unique” story about selling your home or tools you use to sell your home? Send us a note at estateofthings@eppraisal.com