Cost vs Value of Your Home Improvements

It's always good to know "Cost vs Value" of your home improvements.
This info is from HomeGains.com via aol.com

Nearly 1,000 real estate agents cast their votes on which do-it-yourself home improvement projects will help sellers get top dollar.

HomeGain.com's 2009 Top 12 Home Improvements Survey Results showed that cleaning and de-cluttering was the easiest and most cost-effective way to make your home more appleaing to buyers. For as little as $100-$200, sellers could see as much as a 10x increase in their sale price.

To be clear, these are all projects that you can do on your own or with a little help, so you won't see replacing your roof or adding a deck on this list.



Most of the recommended projects come in under $500, with an ROI of at least 100 percent.

Even for some of the more expensive projects, like updating your kitchen for $1,500, you can replace the hardware and touch up the cabinets, just so that buyers don't see any glaring issues. New appliances are actually very cheap right now, and often come with free installation, so don't let an old fridge or dishwasher kill your deal.

The total return on investment for all 12 of these projects could total more than $20,000. For a median priced home, that's about a 10% increase in your sales price.

Check out the HomeGain HomeSaleMaximizer for customized recommendations in your ZIP code.

Home Sales Rising!

This is the latest, greatest information from the National Association of Realtors (as of November 13,2009):

Yun: 2010 Sales to Rise 15 Percent
Home sales will increase 15 percent to about 5.7 million units and REALTOR® income will be up 20 percent in 2010, NAR Chief Economist Lawrence Yun told a packed room of REALTORS® today in a residential economic update at the 2009 NAR Conference & Expo.

Yun credited the home buyer tax credit with unleashing sales on the lower-end of the housing market this year, bringing up to 400,000 first-time buyers into the market who wouldn't have bought otherwise. That influx tightened inventories of starter homes, shored up prices, and helped reduce households' fear over continuing price drops.

This virtuous cycle will continue now that the federal government has extended the credit to mid-2010 and expanded it to make a smaller credit available to repeat buyers and to households with higher incomes. “The key is stabilizing prices and preserving household wealth,” he says.

Yun predicts the supply of homes to stabilize at the historic norm of six to seven months. Homes above $500,000 will remain elevated in the near-term, but that weakness will be offset by a hefty drop in starter-home inventories, which are running at about a five months supply.

The tightening inventory at all price points will help improve market performance by bringing supply into better balance with demand, but the added sales, particularly on the higher end, will also increase the number and quality of the market comparables used by appraisers to assign valuations. Once appraisals improve, foreclosures will ease, blunting their drag on the market and making it less likely that Fannie Mae, Freddie Mac, and even FHA will need help from the taxpayer.

GREAT NEWS FOR BUYERS AND SELLERS!!

Breaking News from the Baird & Warner website......
There are new qualifying income levels....good news for many more Americans than ever before!!

We are the Renee Clark Real Estate Group
You know where to find us!
Give us a call today!



President Obama today signed into law an extension and expansion of the homebuyer tax credit.

The current $8,000 tax credit for first-time homebuyers was scheduled to expire on December 1, but will now remain in effect through the end of June 2010. Buyers must sign a contract before April 30 and close by June 30 in order to qualify.

Additionally, a new $6,500 tax credit has been added for current homeowners looking to buy up. Those who have used their home as their primary residence for five consecutive years of the last eight can claim the credit if they close by the end of June.

Congress also boosted the income limit on both tax breaks dramatically. Individuals with earnings below $125,000 will now be eligible (currently $75,000), as well as married couples with income below $225,000 that file a joint tax return (up from $150,000). The credit can only be used to purchase homes that cost less than $800,000.

Good News for Home Buyers!

Please read the "hot off the press" info that was just posted on the Bairdwarner site! Are you, or someone you know, thinking about buying a home??? It looks like the RIGHT TIME TO BUY! Call us! We'll get you started on you home search today!


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According to CNN, Senate leaders have reached a tentative agreement to extend the $8,000 tax credit for first-time buyers until the end of April.

No vote has yet occurred, and Senators have not yet agreed how the deal would come up for a vote, but there is optimism that any procedural matters will be resolved this week. The provision would then still have to be passed by the House.

In addition to the first-time buyer tax credit, the Senate bill would also add a $6,500 credit for income-eligible current homeowners who have used their home as their principal residence for five of the previous eight years.

This is great news for the real estate industry, but especially for B&W sales associates given B&W Financial Service's unique ability to monetize the tax credit.

As previously mentioned, B&W Financial Services is a partner lender in the Illinois Housing Development Authority's new program offering first-time home buyers an advance loan on the $8,000 tax credit. As such, BWFS is one of few area mortgage bankers able to make this loan.

Happy House Hunting!

Today, most savvy home buyers start their home search on the internet. We have a tool that can connect you with the internet while you are out and about checking out the neighborhoods.

Just text 87778 from your internet enabled phone and text RENEE when prompted, and you will be able to able to browse the MLS from your phone, and if your GPS feature is enabled on your phone, you can pull right up to a home you may be interested in and ZIP! ZAP! the listing information will appear on your phone....press a few buttons, and Renee can make an appointment to arrange a private tour of the property for you!
Home buying simplified!

You can also let us help you find homes the old fashioned way - let us do the online searching for you....just go to our easy to use website: www.reneeclarkhomes.com, contact us, and we will set up a home search for you!