Simple and affordable do-it-yourself projects can greatly increase a home's resale value, according to HomeGain's annual home improvement and staging survey.
The marketing company surveyed nearly 600 real estate professionals to discover which DIY home improvement projects give sellers the biggest return for their buck. Here are six projects under $1,000 (amounts are estimated) that made the list.
1.Cleaning and decluttering. Remove any personal items, unclutter countertops, organize closets and shelves, and make the home sparkling clean.
◦$290 Cost
◦$1,990 Return
2.Brightening. Clean all windows inside and out, replace old curtains, update lighting fixtures, and remove anything that blocks light from the windows.
◦$375 Cost
◦ $1,550 Return
3.Smart staging. Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork, and play soft music in the background.
◦$550 Cost
◦$2,194 Return
4.Landscaping enhancements. Punch up the home’s curb appeal in the front and back yards by adding bark mulch, bushes, and flowers and ensuring current plants and grass are well-cared for and manicured.
◦$540 Cost
◦$1,932 return
5.Repairing electrical or plumbing. Fix leaks under the sinks, remove any mildew stains, and ensure all plumbing is in good working condition. Update the home’s electrical with new wiring for modern appliances, fix any lights or outlets that don’t work, and replace old plug points with new safety fixtures.
◦$535 Cost
◦$1,505 Return
6.Replacing or shampooing dirty carpets. Steam-clean carpets, replace any worn carpets, and repair any floor creaks.
◦$647 Cost
◦$1,739 Return
Wednesday, November 23, 2011
Tuesday, August 30, 2011
Do Your Part: Proper Disposal for Five Outdated Items
By Terri Bennett
(MCT)—All of us are guilty of stashing away outdated items that we just don’t know what to do with. It could be VHS tapes or expired medicines or outdated phone books. Here are five of the most common outdated items we have stockpiled away and solutions to help you get rid of them the right way.
1) VHS Tapes, Cassette Tapes, CDs, DVDs and More
When is the last time you popped in a VHS or cassette tape? GreenDisk is an online company that can help you out. They accept VHS tapes, cassette tapes, CDs and DVDs (along with a long list of other techno trash) and recycle it responsibly. Portions that can’t be recycled will be disposed of correctly. There is a small shipping fee. Other options are to check with your local library or Goodwill to see if they accept or recycle these items.
2) Old Electronics
If you’re holding on to a massive old computer monitor or a cell phone that’s years old, it’s time to get rid of it. They contain valuable metals that can be recycled and other hazardous heavy metals that should be handled responsibly. Instead, check out one of the many online trade-in websites, which pay you for the working ones. Apple and Best Buy are among many retailers that have recycling programs where you can earn gift cards by trading in old electronics.
3) Shoes
Don’t trash those outdated shoes or ones you just don’t wear anymore. Soles4Souls is a charity that wants all gently worn shoes. You can find drop off locations near you and they’ll be sent to people in need around the world. If you have old athletic shoes, one option is Nike’s Reuse-A-Shoe Program where they are ground up and turned into running tracks, basketball and tennis courts, and even playgrounds. Any brand of athletic shoe is accepted.
4) Phone Books
There’s no longer a need to have or get phone books with all of the same info available online. However, hundreds of millions of them are delivered to homes each year. You can put the entire phone book in many curbside-recycling bins. It’s also smart to stop them from being delivered to you in the first place. Call your telephone company directly or go to YellowPagesGoesGreen.org and they’ll do the work for you.
5) Old Medicine
If you have medication you are no longer taking or is past its expiration date, don’t flush it unless it specifically says so on the bottle. You can now buy a postage paid envelope to responsibly dispose of many prescriptions and over the counter drugs. The TakeAway Environmental Return System is now available online and in a number of national retailers. Or participate in the National Prescription Drug Take-Back day being held on Oct. 29.
(MCT)—All of us are guilty of stashing away outdated items that we just don’t know what to do with. It could be VHS tapes or expired medicines or outdated phone books. Here are five of the most common outdated items we have stockpiled away and solutions to help you get rid of them the right way.
1) VHS Tapes, Cassette Tapes, CDs, DVDs and More
When is the last time you popped in a VHS or cassette tape? GreenDisk is an online company that can help you out. They accept VHS tapes, cassette tapes, CDs and DVDs (along with a long list of other techno trash) and recycle it responsibly. Portions that can’t be recycled will be disposed of correctly. There is a small shipping fee. Other options are to check with your local library or Goodwill to see if they accept or recycle these items.
2) Old Electronics
If you’re holding on to a massive old computer monitor or a cell phone that’s years old, it’s time to get rid of it. They contain valuable metals that can be recycled and other hazardous heavy metals that should be handled responsibly. Instead, check out one of the many online trade-in websites, which pay you for the working ones. Apple and Best Buy are among many retailers that have recycling programs where you can earn gift cards by trading in old electronics.
3) Shoes
Don’t trash those outdated shoes or ones you just don’t wear anymore. Soles4Souls is a charity that wants all gently worn shoes. You can find drop off locations near you and they’ll be sent to people in need around the world. If you have old athletic shoes, one option is Nike’s Reuse-A-Shoe Program where they are ground up and turned into running tracks, basketball and tennis courts, and even playgrounds. Any brand of athletic shoe is accepted.
4) Phone Books
There’s no longer a need to have or get phone books with all of the same info available online. However, hundreds of millions of them are delivered to homes each year. You can put the entire phone book in many curbside-recycling bins. It’s also smart to stop them from being delivered to you in the first place. Call your telephone company directly or go to YellowPagesGoesGreen.org and they’ll do the work for you.
5) Old Medicine
If you have medication you are no longer taking or is past its expiration date, don’t flush it unless it specifically says so on the bottle. You can now buy a postage paid envelope to responsibly dispose of many prescriptions and over the counter drugs. The TakeAway Environmental Return System is now available online and in a number of national retailers. Or participate in the National Prescription Drug Take-Back day being held on Oct. 29.
Monday, August 08, 2011
On My Soapbox Today
by: Cindy Adkins, Realtor
Ok so if you follow the posts I am putting up today, you will see that I am totally on my soapbox.
This government can't tell up from down, left from right and who knows what other direction they may try to go.
I sell real estate daily and therefore follow all the trends and complete my education. I work for the public, yes "YOU". I strive to be educated so that you have the best source behind you. Well in real estate we have to move property therefore, selling for sellers and finding buyers good deals.
With the most recent decision to raise the debt ceiling, do you even have a clue what that does to real estate?? Let me tell you what it does...
The interest rates will rise in order to "recover" money to pay the national debt (so when did this become America's "fault"???)
So for you the consumer, that 4% interest rate you love and that 7% interest rate you say is just way to high. Let me give you an eye opener...
Back in the 80's when I got into real estate, that was the Savings and Loans crash, foreclosures spiked and we all thought the world would end then. Well it didn't.
As a first time homebuyer myself at that time, I was seeing 13% and 18% interest rates on loans for home purchases. Yes people were buying real estate at those rates.
I secured a loan with a 10.5% interest rate, guess what??? That was "LOW" at the time. The seller that had sold me the home had a 18% interest rate.
Wake up America, this is what is going to happen. Less home, less price, but guess what?? Same payment, due to the interest rate. I guess I should have figured it would all recycle back around in my lifetime, but we were all too blind enjoying the spending and credit charging.
Want to buy a home?? Do it now!!! I cannot stress that enough!!
Real estate is the driving force to recovery and unemployment. The less homes on the market, the better your homes value will be. So until the inventory of all homes is reduced across the country, prices will continue to fall. For those sellers who have not "woken up" from 2005 with their home values, let me shake you "W A K E U P"
Get your home out of the marketplace if you are not going to price it to "sell"!!!
Overpriced homes are stinking up our inventory. You are making buyers frustrated when they offer you comparable value to other currently closed homes and you refuse to sell.
Let's hope that today is not the day we start to see interest rates spike like a balloon a small child just released into the air. Who knows where it will stop??
Feel free to send me comments..
Thank you, Cindy Adkins
Ok so if you follow the posts I am putting up today, you will see that I am totally on my soapbox.
This government can't tell up from down, left from right and who knows what other direction they may try to go.
I sell real estate daily and therefore follow all the trends and complete my education. I work for the public, yes "YOU". I strive to be educated so that you have the best source behind you. Well in real estate we have to move property therefore, selling for sellers and finding buyers good deals.
With the most recent decision to raise the debt ceiling, do you even have a clue what that does to real estate?? Let me tell you what it does...
The interest rates will rise in order to "recover" money to pay the national debt (so when did this become America's "fault"???)
So for you the consumer, that 4% interest rate you love and that 7% interest rate you say is just way to high. Let me give you an eye opener...
Back in the 80's when I got into real estate, that was the Savings and Loans crash, foreclosures spiked and we all thought the world would end then. Well it didn't.
As a first time homebuyer myself at that time, I was seeing 13% and 18% interest rates on loans for home purchases. Yes people were buying real estate at those rates.
I secured a loan with a 10.5% interest rate, guess what??? That was "LOW" at the time. The seller that had sold me the home had a 18% interest rate.
Wake up America, this is what is going to happen. Less home, less price, but guess what?? Same payment, due to the interest rate. I guess I should have figured it would all recycle back around in my lifetime, but we were all too blind enjoying the spending and credit charging.
Want to buy a home?? Do it now!!! I cannot stress that enough!!
Real estate is the driving force to recovery and unemployment. The less homes on the market, the better your homes value will be. So until the inventory of all homes is reduced across the country, prices will continue to fall. For those sellers who have not "woken up" from 2005 with their home values, let me shake you "W A K E U P"
Get your home out of the marketplace if you are not going to price it to "sell"!!!
Overpriced homes are stinking up our inventory. You are making buyers frustrated when they offer you comparable value to other currently closed homes and you refuse to sell.
Let's hope that today is not the day we start to see interest rates spike like a balloon a small child just released into the air. Who knows where it will stop??
Feel free to send me comments..
Thank you, Cindy Adkins
U.S. Senate Leaders End Impasse on Three Free-Trade Deals
"Why won't the government focus on getting Americans jobs and not outsource??"
August 8, 2011
Bloomberg News
Mark Drajem
Aug. 4 (Bloomberg) -- U.S. Senate leaders ended an impasse over stalled free-trade agreements, agreeing to vote after the August recess on benefits for workers who lose their jobs because of overseas competition, then take up the trade deals.
Senate Majority Leader Harry Reid, a Nevada Democrat, and Republican leader Mitch McConnell of Kentucky pledged action yesterday to pass the agreements with Colombia, Panama and South Korea. The U.S. Trade Representative’s Office and Republican House Speaker John Boehner praised the compromise, signaling all sides concur on the process.
The Senate leaders agreed that after Congress returns to work, lawmakers will consider “a bipartisan compromise on the Trade Adjustment Assistance program, followed by passage of the three FTAs,” Reid said in a statement on his website. Boehner of Ohio also pledged to move ahead with trade and worker-aid bills. Republicans had balked at the administration’s plan to combine worker aid and the Korea trade deal into a single bill, and that plan was dropped.
Business groups, including the U.S. Chamber of Commerce, have pressed lawmakers to reach a compromise to end the stalemate on trade deal-worker aid amid concern companies will fall behind competitors as the nations strike deals with other governments.
A separate South Korean free-trade agreement with the European Union has been in place since July 1, putting U.S. producers of autos, pharmaceuticals and scientific equipment at a disadvantage in the Asian economy. A deal between Colombia and Canada is scheduled to take effect Aug. 15.
$12 Billion
The three U.S. agreements may increase exports by $12 billion a year and boost the still-struggling U.S. economy, supporters say. After Congress agreed to raise the debt ceiling this week, the White House urged action on the trade deals as a means to spur hiring in the U.S. amid 9.2 percent unemployment.
The Trade Adjustment Assistance program augments health and unemployment benefits to workers who lose their jobs because of overseas competition. As part of the stimulus legislation in 2009, it was expanded to include service workers such as call- center employees. The added benefits expired in February.
The proposal from the White House, which Reid committed to consider, would continue most of those benefits through 2013, and provide retroactive assistance to those left out so far this year. It’s forecast to cost $320 million in each of the next two years.
Separate Measures
President Barack Obama wanted to have Congress consider the worker-aid program as part of the South Korea deal, the biggest of the three accords. With the deal between Reid and McConnell, trade adjustment assistance will be considered separately and before the vote on the agreements, according to the statement.
“I have long supported passage of the long-delayed FTAs, and I know that I speak for many on my side of the aisle that we are eager to get moving and finally pass them,” McConnell said in the statement. “Although I do not personally support TAA, I know there is bipartisan support for this program.”
Supporters praised the agreement, while cautioning that the process of gaining approval could again slow the pacts, which were completed in 2006 for Colombia and 2007 for South Korea and Panama.
“We must not see any more roadblocks thrown in front of these deals during the short legislative session that remains,” U.S. Chamber President Tom Donohue said in a statement.
Hurdles Ahead
The Reid-McConnell compromise has two potential hurdles. Senator Ron Wyden, an Oregon Democrat and chairman of the trade subcommittee in the Senate, has said the worker-aid measure must pass Congress before the free-trade deals are considered; Boehner said the trade deals will move together with the assistance bill.
In the Senate, the worker-aid bill won’t be considered under rules for trade agreements that limit amendments and require a simple majority for approval. That may leave the legislation open to revision, such as adding a measure making it possible for companies to petition for duties on imports from China to compensate for its weak currency.
“Extending Trade Adjustment Assistance is an important step to respond to job loss caused by foreign competition,” Senator Sherrod Brown, an Ohio Democrat, said in a statement. “But addressing unfair trade practices like Chinese currency manipulation can prevent job loss by ensuring a level playing field for American manufacturers.”
August 8, 2011
Bloomberg News
Mark Drajem
Aug. 4 (Bloomberg) -- U.S. Senate leaders ended an impasse over stalled free-trade agreements, agreeing to vote after the August recess on benefits for workers who lose their jobs because of overseas competition, then take up the trade deals.
Senate Majority Leader Harry Reid, a Nevada Democrat, and Republican leader Mitch McConnell of Kentucky pledged action yesterday to pass the agreements with Colombia, Panama and South Korea. The U.S. Trade Representative’s Office and Republican House Speaker John Boehner praised the compromise, signaling all sides concur on the process.
The Senate leaders agreed that after Congress returns to work, lawmakers will consider “a bipartisan compromise on the Trade Adjustment Assistance program, followed by passage of the three FTAs,” Reid said in a statement on his website. Boehner of Ohio also pledged to move ahead with trade and worker-aid bills. Republicans had balked at the administration’s plan to combine worker aid and the Korea trade deal into a single bill, and that plan was dropped.
Business groups, including the U.S. Chamber of Commerce, have pressed lawmakers to reach a compromise to end the stalemate on trade deal-worker aid amid concern companies will fall behind competitors as the nations strike deals with other governments.
A separate South Korean free-trade agreement with the European Union has been in place since July 1, putting U.S. producers of autos, pharmaceuticals and scientific equipment at a disadvantage in the Asian economy. A deal between Colombia and Canada is scheduled to take effect Aug. 15.
$12 Billion
The three U.S. agreements may increase exports by $12 billion a year and boost the still-struggling U.S. economy, supporters say. After Congress agreed to raise the debt ceiling this week, the White House urged action on the trade deals as a means to spur hiring in the U.S. amid 9.2 percent unemployment.
The Trade Adjustment Assistance program augments health and unemployment benefits to workers who lose their jobs because of overseas competition. As part of the stimulus legislation in 2009, it was expanded to include service workers such as call- center employees. The added benefits expired in February.
The proposal from the White House, which Reid committed to consider, would continue most of those benefits through 2013, and provide retroactive assistance to those left out so far this year. It’s forecast to cost $320 million in each of the next two years.
Separate Measures
President Barack Obama wanted to have Congress consider the worker-aid program as part of the South Korea deal, the biggest of the three accords. With the deal between Reid and McConnell, trade adjustment assistance will be considered separately and before the vote on the agreements, according to the statement.
“I have long supported passage of the long-delayed FTAs, and I know that I speak for many on my side of the aisle that we are eager to get moving and finally pass them,” McConnell said in the statement. “Although I do not personally support TAA, I know there is bipartisan support for this program.”
Supporters praised the agreement, while cautioning that the process of gaining approval could again slow the pacts, which were completed in 2006 for Colombia and 2007 for South Korea and Panama.
“We must not see any more roadblocks thrown in front of these deals during the short legislative session that remains,” U.S. Chamber President Tom Donohue said in a statement.
Hurdles Ahead
The Reid-McConnell compromise has two potential hurdles. Senator Ron Wyden, an Oregon Democrat and chairman of the trade subcommittee in the Senate, has said the worker-aid measure must pass Congress before the free-trade deals are considered; Boehner said the trade deals will move together with the assistance bill.
In the Senate, the worker-aid bill won’t be considered under rules for trade agreements that limit amendments and require a simple majority for approval. That may leave the legislation open to revision, such as adding a measure making it possible for companies to petition for duties on imports from China to compensate for its weak currency.
“Extending Trade Adjustment Assistance is an important step to respond to job loss caused by foreign competition,” Senator Sherrod Brown, an Ohio Democrat, said in a statement. “But addressing unfair trade practices like Chinese currency manipulation can prevent job loss by ensuring a level playing field for American manufacturers.”
Downgrade 'Powerful Incentive For Lawmakers To Do The Hard Work Necessary To Get Our Fiscal House In Order'
August 8, 2011
The Daily Caller
Jamie Weinstein
U.S. Chamber of Commerce President and CEO Thomas Donohue said Sunday that Standard & Poor’s decision to downgrade America’s credit rating Friday should serve as a wake-up call for lawmakers to fix America’s pressing long-term fiscal imbalances.
“While we don’t agree with S&P’s decision to downgrade America’s credit rating, its action should be another powerful incentive for lawmakers to do the hard work necessary to get our fiscal house in order,” Donohue said in a statement. “While the Chamber supported the debt ceiling deal as an important first step, let’s not forget that the agreement only slows the increase in the rate of spending. Instead of adding $10 trillion in debt over the next decade, we will add $7 trillion to $8 trillion. That’s not good enough.” (RELATED: Axelrod: ‘This is essentially a tea party downgrade’)
Donohue also indicated that he believes reform should begin with America’s tax code and entitlement programs.
“We will never tackle debts and deficits, jumpstart this recovery, reduce uncertainty, and create millions of jobs until we overhaul our tax code and reform runaway entitlement programs that threaten to push us into insolvency,” he said. “This downgrade is additional proof that we can’t kick the can down the road any longer. The time to act is now.”
The Daily Caller
Jamie Weinstein
U.S. Chamber of Commerce President and CEO Thomas Donohue said Sunday that Standard & Poor’s decision to downgrade America’s credit rating Friday should serve as a wake-up call for lawmakers to fix America’s pressing long-term fiscal imbalances.
“While we don’t agree with S&P’s decision to downgrade America’s credit rating, its action should be another powerful incentive for lawmakers to do the hard work necessary to get our fiscal house in order,” Donohue said in a statement. “While the Chamber supported the debt ceiling deal as an important first step, let’s not forget that the agreement only slows the increase in the rate of spending. Instead of adding $10 trillion in debt over the next decade, we will add $7 trillion to $8 trillion. That’s not good enough.” (RELATED: Axelrod: ‘This is essentially a tea party downgrade’)
Donohue also indicated that he believes reform should begin with America’s tax code and entitlement programs.
“We will never tackle debts and deficits, jumpstart this recovery, reduce uncertainty, and create millions of jobs until we overhaul our tax code and reform runaway entitlement programs that threaten to push us into insolvency,” he said. “This downgrade is additional proof that we can’t kick the can down the road any longer. The time to act is now.”
Tuesday, May 03, 2011
Agent Finds Body on Property He Was Selling
Wednesday, April 27, 2011 — Authorities say real estate agents discovered a Little Rock man’s body slumped over the steering wheel of a car parked on a property they were trying to sell in southern Pulaski County.
Pulaski County sheriff’s spokesman Lt. Carl Minden tells the Arkansas Democrat-Gazette that Barbara Crook and another real estate agent found the body Friday morning when they were checking on the home.
Authorities have ruled the death of 28-year-old Jason Jackson a homicide. Minden says the body had been in the car since late Thursday night or early Friday morning, but he would not say how Jackson died. There haven’t been any arrests.
Crook says the house has been on the market for about 18 months and that the owner now lives in California.
Pulaski County sheriff’s spokesman Lt. Carl Minden tells the Arkansas Democrat-Gazette that Barbara Crook and another real estate agent found the body Friday morning when they were checking on the home.
Authorities have ruled the death of 28-year-old Jason Jackson a homicide. Minden says the body had been in the car since late Thursday night or early Friday morning, but he would not say how Jackson died. There haven’t been any arrests.
Crook says the house has been on the market for about 18 months and that the owner now lives in California.
Wednesday, April 13, 2011
US Deficit Up Grew By 15.7% In First Half Of FY 2011
WASHINGTON (AFP) – The US budget deficit shot up 15.7 percent in the first six months of fiscal 2011, the Treasury Department said Wednesday as political knives were being sharpened for a new budget battle.
The Treasury reported a deficit of $829 billion for the October-March period, compared with $717 billion a year earlier, as revenue rose a sluggish 6.9 percent as the economic recovery slowly gained pace.
The Treasury argued that the pace of increase in the deficit was deceptive because of large one-off reductions in expenditures made during the first half of fiscal 2010, compared with previous and subsequent periods.
Those included a $115 billion reduction in funds spent on the Troubled Asset Relief Program (TARP) -- the financial institution bailout program -- in March 2010.
But 2011 so far has also seen significant increases in spending on defense, Social Security, health and debt service, while receipts have not grown as fast.
The Treasury reported a deficit of $829 billion for the October-March period, compared with $717 billion a year earlier, as revenue rose a sluggish 6.9 percent as the economic recovery slowly gained pace.
The Treasury argued that the pace of increase in the deficit was deceptive because of large one-off reductions in expenditures made during the first half of fiscal 2010, compared with previous and subsequent periods.
Those included a $115 billion reduction in funds spent on the Troubled Asset Relief Program (TARP) -- the financial institution bailout program -- in March 2010.
But 2011 so far has also seen significant increases in spending on defense, Social Security, health and debt service, while receipts have not grown as fast.
Wednesday, April 06, 2011
Why is it important to have the garage inspected?
It is becoming more common today that at least part of the garage is used for living, working or playing; and many garages are fully equipped with electrical and plumbing facilities. This means that the garage is an important part of the home inspection process.
Garage types usually fall into three categories: detached, attached and detached with breezeway. Fire is a potential in all garages due to the storing of gas fumes, oil spills, paint cans and more. If a fire occurs, it is important that it doesn’t spread to the rest of the living space. To contain the fire within the garage, surfaces between the garage and living spaces must be fireproof with fire walls and fire doors.
Garages are essentially an extension of one’s home, and many times used for storage areas, which means they are a potentially dangerous area for falls, poisonings and fires. Take the necessary steps to make your garage a safe environment for your family.
Pool chemicals can catch on fire. Follow manufacturer’s instructions when storing.
Store poisons in a place where children cannot touch or see them.
It is best not to keep gasoline at home because gasoline vapors can explode with only a tiny spark.
Make sure garage shelves are anchored to a wall and not overloaded with products.
Store shovels, rakes, bikes and other sharp and large objects on the wall and away from high traffic areas.
Keep the garage floor, stairs and entries clear of clutter.
Make sure your garage is well lit.
Clean any dust or trash in the garage to keep it from interfering with the electrical system.
When purchasing or remodeling a home with a garage, make sure the garage door has an auto-reverse feature.
Garage types usually fall into three categories: detached, attached and detached with breezeway. Fire is a potential in all garages due to the storing of gas fumes, oil spills, paint cans and more. If a fire occurs, it is important that it doesn’t spread to the rest of the living space. To contain the fire within the garage, surfaces between the garage and living spaces must be fireproof with fire walls and fire doors.
Garages are essentially an extension of one’s home, and many times used for storage areas, which means they are a potentially dangerous area for falls, poisonings and fires. Take the necessary steps to make your garage a safe environment for your family.
Pool chemicals can catch on fire. Follow manufacturer’s instructions when storing.
Store poisons in a place where children cannot touch or see them.
It is best not to keep gasoline at home because gasoline vapors can explode with only a tiny spark.
Make sure garage shelves are anchored to a wall and not overloaded with products.
Store shovels, rakes, bikes and other sharp and large objects on the wall and away from high traffic areas.
Keep the garage floor, stairs and entries clear of clutter.
Make sure your garage is well lit.
Clean any dust or trash in the garage to keep it from interfering with the electrical system.
When purchasing or remodeling a home with a garage, make sure the garage door has an auto-reverse feature.
Monday, April 04, 2011
Buyer’s Market Spurs Confidence in Young Professionals and Affluent Homeowners
RISMEDIA, April 4, 2011—As the cold temperatures become a distant memory, and the spring selling season gains momentum, consumers have come to agree on one thing—now’s a good time to get off the fence and into the real estate market. This is the overall theme in the latest American Express Spending and Saving Tracker survey, a monthly survey that tracks the spending and saving habits of consumers in order to get an indication of what’s happening in the market. “This month’s Spending and Saving Tracker provided an up-to-date look at various consumer trends and gave us the opportunity to assess how consumers are feeling about the current market in addition to gauging homeowner confidence,” says Leah Gerstner, vice president of public affairs at American Express.
“This month’s survey points to the fact that consumers overwhelmingly feel that we are in the midst of a buyer’s market,” she adds. The data also points to the fact that a seller’s market is at least a year away, which is certainly positive news. While homeowners aren’t necessarily willing to settle for less than the asking price when selling their home, two of the biggest areas of interest in the latest survey deal with homeowners including home improvement projects on their to-do list, as well as the willingness to include concessions to get their home sold.
Home Improvements
“In looking at the results of our latest Spending and Saving Tracker survey, our thinking was that if consumers overwhelmingly view today’s market as a buyer’s market—which they do—they are likely to have plans to put more money into their home,” adds Gerstner. In fact, the survey found that about 64 percent of homeowners currently have home improvement projects on their to-do list for 2011. While the plans are in place, the amount that homeowners are budgeting to spend has gone down quite a bit from last year. “Homeowners are looking for better ways to stretch their dollars, and many are looking toward energy-efficient home improvements that will pay off in the long run.” The survey shows that among homeowners who are looking to go green, the most common items homeowners would spend their money on include energy-efficient windows and doors, insulation, roofing, heating and cooling systems as well as alternative energy systems.
Concessions
Another finding that stood out in the latest survey had to do with whether or not sellers were willing to make concessions to get their homes sold, especially in today’s market. While 44 percent of sellers were willing to give away appliances during a sale—the biggest concession among young professionals and affluent homeowners—another 28 percent said they would take care of requested repairs in order to get their home sold. “While a large majority of sellers are willing to make concessions to get their home off the market, the willingness to make concessions is down among young professionals when compared with the 2010 survey,” says Gerstner. “This is an important finding as it shows that young professionals are more confident in their ability to sell their homes today.”
“Homeowner confidence in today’s market has increased compared to last year,” says Gerstner. “In fact, the survey shows that the confidence level is pretty evenly split—42 percent of homeowners are confident they will get their asking price in today’s market, while 47 percent of homeowners aren’t that confident.” Even though home values continue to be on the low side, young professionals and affluent homeowners are seemingly more confident in today’s market.
“This month’s survey points to the fact that consumers overwhelmingly feel that we are in the midst of a buyer’s market,” she adds. The data also points to the fact that a seller’s market is at least a year away, which is certainly positive news. While homeowners aren’t necessarily willing to settle for less than the asking price when selling their home, two of the biggest areas of interest in the latest survey deal with homeowners including home improvement projects on their to-do list, as well as the willingness to include concessions to get their home sold.
Home Improvements
“In looking at the results of our latest Spending and Saving Tracker survey, our thinking was that if consumers overwhelmingly view today’s market as a buyer’s market—which they do—they are likely to have plans to put more money into their home,” adds Gerstner. In fact, the survey found that about 64 percent of homeowners currently have home improvement projects on their to-do list for 2011. While the plans are in place, the amount that homeowners are budgeting to spend has gone down quite a bit from last year. “Homeowners are looking for better ways to stretch their dollars, and many are looking toward energy-efficient home improvements that will pay off in the long run.” The survey shows that among homeowners who are looking to go green, the most common items homeowners would spend their money on include energy-efficient windows and doors, insulation, roofing, heating and cooling systems as well as alternative energy systems.
Concessions
Another finding that stood out in the latest survey had to do with whether or not sellers were willing to make concessions to get their homes sold, especially in today’s market. While 44 percent of sellers were willing to give away appliances during a sale—the biggest concession among young professionals and affluent homeowners—another 28 percent said they would take care of requested repairs in order to get their home sold. “While a large majority of sellers are willing to make concessions to get their home off the market, the willingness to make concessions is down among young professionals when compared with the 2010 survey,” says Gerstner. “This is an important finding as it shows that young professionals are more confident in their ability to sell their homes today.”
“Homeowner confidence in today’s market has increased compared to last year,” says Gerstner. “In fact, the survey shows that the confidence level is pretty evenly split—42 percent of homeowners are confident they will get their asking price in today’s market, while 47 percent of homeowners aren’t that confident.” Even though home values continue to be on the low side, young professionals and affluent homeowners are seemingly more confident in today’s market.
Subscribe to:
Comments (Atom)