Remodeling is a great way to add value to your home. However, you need to be careful of where you invest your hard earned money. While the following are great projects to do if you plan on staying in your home for a while, you can't count on receiving a positive return on your investment when you go to sell it. The four remodel projects you should avoid are: creating a home office, constructing a family room addition, doing an upscale kitchen remodel or creating an expensive master suite addition.
Many people are choosing to stay at home and work. However, transforming a bedroom into a home office space, complete with custom cabinets and desk space, will not pay off in improving the value of your home. When it comes down to it, bedrooms sell homes...not home office space. Keep the bedroom as a bedroom. Buy furniture to accommodate your office. Just don't alter the room from it's original bedroom design.
While adding a family room to a small home may seem like a great idea, the reality is that it can cost you about $50,000 to construct a typical 16'x25' room, after you figure in the cost of additional lighting, flooring, patio doors, windows and exterior finishing. Taking that money and utilizing it to improve already existing space is a better bet. Fully finish the basement or attic into a game room or master suite. This won't increase your square footage, but you will get a much better return for the money.
Yes, master bedrooms help sell homes. Customizing your master suite to include a large sitting area, custom stone vanities and custom bookcases to fit your particular lifestyle is a great dream. Realistically speaking, however, unless you live in an upscale neighborhood, spending $100,000 on customizing your bedroom is not a smart way to spend your money. Replacing old fixtures, flooring, the sink and toilet will be easier on the wallet and will help sell your home just as much as that deluxe master suite.
The kitchen is another hot seller of homes. But, before you buy that top-of-the-line double convection oven and sub-zero freezer, check out the neighborhood to see what other homes have to offer. Spending $80,000 on a completely new kitchen is great in areas where homes go for much more money, like New York, Los Angeles and San Francisco. Most likely, replacing old flooring, countertops and appliances for a reasonable cost will help you sell your home just as well as going hog wild with custom cabinetry and imported marble countertops.
When remodeling, always keep in mind that you should keep colors neutral, the space clean and classic style never fades.
They say that patience is a virtue. Prices for Phoenix homes have been on the decline in recent months, creating an 8.97% increase in the number of single-family homes sold in July (compared to June) and a 33.86% increase from July 2007. Condominiums and townhomes have decreased in price as well, creating a 16.2% increase in sales compared to June 2008. Another leading indicator that the Phoenix real estate market may be starting a bit of a correction is that the DOM has decreased in just the last month. June's DOM for single-family homes and condos were both 127, while July's DOM for condos and townhomes decreased to 119 and single-family homes fell even lower...to 112. DOM (Days on Market) is the average time it takes a listing to go from "new" to "pending" status. In a buyer's market, the DOM is higher. In a seller's market, the DOM is lower. While the DOM is still higher than the same time last year, Phoenix homeowners can take heart that the market isn't at a complete standstill. Phoenix homes are selling! Just be patient. If you list it, they will come.
Come to the University of Phoenix Stadium in Glendale on Saturday, August 16, to partake in an attempt to set the record for World's Largest Pizza Buffet. Admission is free and the event will be held from 11am-1pm. Cici's Pizza is sponsoring the event. There will be ice cold drinks, inflatable carnival games and, of course, pizza...over 300 feet of it. Kids and adults are welcome to this free event. If you want more information, please call (972) 745-9396. Hope to see you there!
As a major suburb of Phoenix, Peoria offers a welcome respite from the hustle and bustle of its big city neighbor, even though it is the 9th largest city in the state. Somehow, despite its size, Peoria keeps its small town atmosphere in check. The sunny weather provides for some amazing outdoor recreation, including watersports at Lake Pleasant, golf, tennis, dozens of parks, hiking, biking, camping and even spring training grounds for the Seattle Mariners and San Diego Padres, both of which are major league baseball teams. Over the years, Peoria has even been quietly building a solid reputation as a mecca for culture and art in the Southwest, as evidenced by the Peoria Center for the Performing Arts and a multitude of galleries and museums in the area. The Peoria Unified School District is the third largest in Arizona and offers a grade-A education to its students. Peoria's location within commuting distance of Phoenix and homey atmosphere make it a perfect choice for families looking to relocate from big city life without losing the big city amenities that go with it.
Associate Broker with Home Smart, Certified Residential Specialist, Accredited Buyer Representative, Graduate Realtor Institute. Serving Phoenix, Glendale, Peoria, and the surrounding communities.
Foreclosures Canadian Buyers Why Buy Now?
I have been "Having a Ball" with real estate from day one. Negotiating the purchase or sale of property with an upbeat, win/win approach is one of the biggest advantages my clients receive. I have taken the extra time and effort required to earn various nationally recognized real estate designations. Those designations keep me up to date on the latest trends, laws, and marketing strategies. In addition, I have also earned my broker license (big difference between a real estate agent and a real estate broker) by attending many hours of classes and passing the state exam concerning real estate laws and practices. What does all this mean to you? It means when I go to work on your behalf you can rest assured that I am not just a casual practitioner or part time real estate agent. I stay up to date on the latest market news and can provide you with the resources needed for a successful real estate transaction. If you're new to the area or just don't know who to call for a home loan, I can provide with a list of lenders that I have dealt with successfully over the years. I can put you in touch with home inspectors, roof inspectors, and various contractors for almost any type of work you need. When I work with you in buying or selling a home, I will be your resource center for anything relating to real estate.
Areas of Expertise
My area of expertise is in listening to your needs. If you're selling your house there are reasons for selling it. And those reasons will have a big impact on how we market the house for sale. Whether you're being relocated by your employer, wanting to upsize or downsize, or are acting on behalf of an ill or deceased family member, I will listen to what is motivating you to sell the house and I will market it accordingly.
Maybe you're a buyer that has specific needs. By listening to you when we talk about your dream home I will be able to pick up on your needs and do targeted searches for those needs. If you're a first time home buyer that is absolutely terrified of your very first purchase, I will walk you through the process step by step. But before we begin the home search I will explain to you in detail what to expect along the way. The more familiar you are with the process, the less scary it will be.
Thanks Larry for making this a painless process. We are very happy the house sold in a relatively short time in a market that is saturated.
Our thanks for taking us through the process in a very professional manner.
Hope Thomas
TMC HealthCare
Glendale, Az.
"Imagine, the worst down-market in a decade, Christmas week and I had to move. I found Larry while surfing online noting that he took advantage of the Internet and mass media in his marketing and, knowing that more than 98% of prospective buyers now use the Internet to search for a home, I decided to list with him; after all, I knew I'd need all the help I could get in this market.
Not one came those first two weeks!
I guess all the other Realtors decided to take a vacation because not even one Realtor previewed even though there were three active listings in the subdivision! Then in the second week of the new year, we got an offer for full price - minus their closing costs which I was happy to pay since they wanted to close in three weeks!
There were many things that I had inadvertently left undone in my rush to get home to Hawaii and I had to rely on Larry to take care of many details which he handled with efficiency, even taking care of UPS-ing packages that came for Christmas..
Thank you Larry, you deserve an award for Outstanding Service! Merle and I are fortunate to have found you! Be sure to look us up when you visit the islands, we'll give you da local-kine tour!
Aloha,
Richard and Merle Higashide
PS: Seriously, hire Larry to represent you; you will be glad you did!"
"...actually I should be thanking you for all your effort. When talking to other former home sellers, they were surprised at how much work you put into selling the house." Lawrence City of Tempe
"I want to express my thanks to you for making the house selling experience as relatively painless as possible. Even though it was our first experience selling, I know it could have been horrendous. We were so lucky to have you agree to sell our house and then to do such a thorough and professional job. All the extras you took the time to do (postcard mailings, advertising, etc.) were much appreciated - it was proof to me that you are serious, capable and really like what you do. I always felt comfortable and trustful and never worried about the process...I have told people about you and the great experience we had selling our home through you, and I will continue to do so. Thanks so much!"
Linda Pina
Phoenix College
"We consider ourselves to have been blessed that we had the opportunity to work with Larry in the purchase of our home. Ours was not a simple transition. However, Larry put us in touch with a lender that worked with us to smooth out all the rough spots. His professionalism, knowledge of the market, legal ramifications, and personal integrity made all the difference to us. His actions have earned him the right to be our friend and Realtor for life."
Jim Hart
Phoenix, AZ
Thanks for all the effort you have put into the sale of my house and even after the sale. You made it very easy for me and you have been a great help with it all. I was right in choosing you out of five Realtors for the sale of my house. I will recommend you to anyone I know. Thanks again, Luis
Luis Brulles
Glendale, AZ
It has been our distinct pleasure to again work with Larry recently in the sale of one of our rental properties. Larry's attention to detail, marketing expertise and professionalism in all aspects of this transaction only reinforced the fact that we were dealing with a true real estate professional.
As a former Arizona Real Estate Broker, I can only say that if I were looking for individuals to add to my team, I'd call Larry first.
Sincerely,
Kim H. Stern
Fountain Hills, AZ
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