Wednesday, August 09, 2006

Remodeling in a Transitional Market

The San Francisco real estate market has ebbed from Real Hot to Real Weird, with some great properties sitting and others receiving 5 offers the evening of the first Sunday open house, such as 137 Beulah. That being said, investors as well as home owners looking to improve homes and come out on top when they re-sell, need to take caution in their upgrading ideas. Realtor® Magazine has the following helpful tips:

Daily Real Estate News July 31, 2006
Remodeling: Home Owners' Seven Deadly Sins

Remodeling isn’t always a good idea, says Holly Slaughter, brand manager and
consumer-experience expert for RealEstate.com.

Here are what she calls the seven deadly home-improvement sins to consider before committing to projects that may work against you and lessen your resale value.
• Over expanding. Outdoing all the homes on the block is never a good idea because it makes the house more expensive than the others and therefore harder to sell.
• Making your home into something it’s not. Changing the style or the architecture is usually a big mistake.
• Changing the purpose of a room. Keep kitchens as kitchen and baths as baths. They were built that way for a reason.
• Under budgeting. People routinely under budget 20 or 30 percent fewer dollars and underestimate even more in guessing the time the job will take.
• Doing the job yourself. Unless you have first-rate skills, hire somebody who does.
• If it’s not broke, don’t fix it. Don’t waste money on renovations that won’t pay off. Buyers won’t necessarily pay for what makes a seller happy. Siding, windows, kitchens and bathrooms are the home improvement winners, according to Remodeling magazine.
• Neglecting regular upkeep. They may seem boring, but cleaning the gutters, keeping the house painted and trimming the shrubs are the most valuable home improvements.

Source: Marketwatch, Amy Hoak (07/30/2006)

Ready to buy or sell a home? Have questions about the current San Francisco real estate market? Contact me today for honest, experienced answers.
Amy Blakeley, Realtor
®
McGuire Real Estate
ablakeley at mcguire.com

www.amyblakeley.com




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