How Home Renovations are Helping Home Sellers in a Buyer's Market

Across the country, home sellers have had a difficult time because of the lack of buyers who have the ability to pay legitimate prices for new homes. With the economic recovery being somewhat sluggish and people being a bit reluctant to leave their existing homes, sellers have experienced trouble even though the housing supply has been down in some places. This has left many home owners in a difficult situation. What should they do to make their homes stand out from the crowd? The answer for some has revolved around renovations.

There has long been debate among general contractors about whether home renovations add more value than they cost. If a person puts $30,000 into a home renovation, for instance, will that person experience an equivalent gain in his or her home value? Many today believe the answer is yes, and more, they believe that renovated homes will sell more quickly, saving home sellers a tremendous amount of money that might have otherwise gone to fees or double mortgage payments. The trends suggest that today's home buyers are looking for something a little different in their homes. They want something clean, updated, and move-in ready.


Home renovations allow home owners to respond to the trends in home buying. The housing market goes through shifts, with buyers desiring different elements depending on the year. In some eras, people are looking for kitchens with big double ovens. (Me! Well, not necessarily the double ovens, but the kitchen is always a big factor when I look at a house.) In other years, buyers will pay more money for an updated bathroom. Other years bring a heightened desire among buyers for a so-called "man cave" or perhaps a hometheater room. During a renovation, a contractor can respond to the current trends, making the home into one that can be more easily sold on today's market.

Home sellers looking for easy ways to get their homes sold and off the market must consider whether a renovation is right for them. Many sellers have decided to invest the money up front, trusting that a contractor will create more value than he takes in the project. It is an interesting strategy that seems to be working out across the country, as sellers are seeing their homes fly off the market when they add the touches that buyers want.

A Lake-Front Lifestyle

Do you dream of peaceful days and nights, great friends and neighbors, and outdoor activities year-round?  Having just returned home from a very peaceful and wonderful Feast of Tabernacles filled with great friends and neighbors and plenty of time outdoors, I can definitely say yes to that.  It's not exactly the same, but if you also answered yes, you may want to check out some of these lake-front homes in the Lake Wylie communities where everything you're dreaming of is right outside your back door.

Lakefront living offers a tranquil lifestyle with gorgeous wooded areas, wide open vistas and breath-taking water views. Along the shores of Lake Wylie, you'll find beautiful communities with friendly neighbors and wonderful outdoor activities for the entire family. Living on a lake offers easy access to year-round swimming, boating, fishing, and other outdoor activities with family and friends in a peaceful, quiet setting. With your own private boat dock, you can easily take a relaxing cruise around the lake, or head out for an early morning fishing adventure. Lake-front living feels a bit like being on vacation all year.

Take a look at some of the benefits:

Relaxation

Whether you're retired or just want a place to unwind after a busy day at work, a lake-front lifestyle will quickly relieve the stresses of your day. You can begin each day with an invigorating sunrise and end each day with a glowing sunset. The soothing sounds of the water and the fresh, clean air will provide a relaxing, comfortable lifestyle where stress just melts away.

Entertainment and Activities

With the lake right outside your back door, outdoor entertaining and activities are simple. Whether you prefer an outdoor barbecue with friends and neighbors or a quiet canoe adventure with the kids, the lake provides the perfect setting and opportunity. With a boathouse and dock, it's easy to jump in the boat after lunch for a scenic boat ride or a trip to your neighbor's house for a coffee visit.

Health & Fitness

Lake-front living also offers opportunities for you and your family to get plenty of exercise and stay healthy and fit. You can take part in fun ways to exercise like swimming, rowing, hiking, or jumping on a giant water trampoline that the kids will love. With a lake-front lifestyle, exercise feels much more like fun than exercise, but your body and health will tell the real story. 

I feel like I could get used to a lifestyle like that.  How about you?  Of course, when deciding on a lake-front property, you'll want to choose a location that fits your needs and personality. Different lake-front communities offer their own unique lifestyle and amenities, so look for one that's right for the lifestyle you have been dreaming about.

Looking again

Guest written by our friend Sergio Chaney

Selling houses is not what I imagined I would do, but when I had my kids, I knew I needed to find something that was more flexible than climbing the corporate ladder. I've always been interested in real estate so it really seemed like a natural fit, especially since at that time the business of selling homes was really booming. It's obviously much harder now to make a living in this business, and I've actually been doing some job searching outside of real estate. I usually use my Clearwirelessinternet4g.com wireless to look for open part-time positions, and I'm really lucky that my husband makes enough money that me finding full-time work is not a requirement for our family. It's a shame because I really love real estate, but as of now is not paying the bills that it used to, so I'm just making sure to keep my options open. Hopefully in a couple of years it will pick up, but just in case it doesn't, I'm definitely trying to be prepared.

New Windows?

While we're getting our roof shingled and new siding on our house, we're thinking we ought to go ahead and put new windows in.  It's really the best time to do it, since the siding will all have to come off, making installation easier, and if we get the right energy efficient windows we can get the 30% tax credit, too.   It's hard to imagine not doing it.  There just won't be a better time.

The insurance will pay for Cory's window because it got broken and the back patio door that got scratched up, but we'll have to pay for the rest ourselves.  It would be a no-brainer if we knew we were going to be staying in this house for quite a while.  The energy savings are definitely worth it, but it takes quite a few years for the windows to pay for themselves in energy savings.  But, we don't know how long we'll be here.  I'm not saying we're ready to start looking at Wilmington NC real estate or anything.  More likely we'll be looking at Dallas if Jeffrey moves up with Dean Foods.  He's interviewed for a couple jobs there, but they haven't made any decisions yet.  We're just kind of waiting to see what happens.

The question is will the windows pay for themselves if we have to sell the house sometime soon?  Probably not, but still - it's the perfect time to replace them.  It's also probably a good selling point to have all new windows, and siding, and roof, whether here, in the Wilmington NC real estate market, or anywhere else.

Also, I'd hate to not get the new windows and then find out that we won't be looking at any Wilmington NC real estate listings (Though some of those North Carolina houses look really nice! Yes, I did a search, just because - they make it so easy.), or Dallas listings or real estate anywhere else, and that we get to stay here.  Then we'd want to/have to do it before too long anyway, and the installation would cost more, and the tax credits probably won't be available anymore, and it will end up costing us more.

2010 Homebuyer Tax Credits

This is a Sponsored Post written by me on behalf of Coldwell Banker. All opinions are 100% mine.

Beth keeps talking about moving out, and now she's talking about buying a house, with her boyfriend Tim, which probably isn't the best idea in the world, but she wouldn't want to hear it.  You never know, maybe things will work out for them, and they'll get over the drama and live happily ever after.  If they are going to buy a house, now would be a good time.

The government extended the First-Time Homebuyer Credits into 2010.  Not only that, but they have added credits for Move-Up Homebuyers too.  That means first time buyers or buyers who have not owned a home in the last 3 years aren't the only ones who can benefit from the tax credits now.  Current homeowners who have lived in their primary residences for 5 consecutive years out of the last 8 qualify, too.

Some of the highlights of the 2010 Homebuyer Tax Credits are:

• Buyers must have a signed contract by April 30, 2010. (and close by June 30, 2010)
• Income limits are now $125,000 for singles, $225,000 for married couples.
• First-Time buyers can qualify for up to $8000 and current qualifying homeowners for up to $6500.
• The cost of the home purchased must be no more than $800,000.  (Seriously, anyone who can afford to buy a house that costs $800,000 or more doesn't really need a tax credit, does he?)
  

You can learn more about the 2010 Homebuyer Tax Credits by visiting the Coldwell Banker website and watching the video there.  I'm not always in complete agreement with all these tax credits the government keeps wanting to give out, but if what he said in the video about home sales adding jobs and putting money into the local economy is true, then this program has the potential of helping the economy more than some of the other ones seem to.

If you're thinking that now is a good time to buy a house, you can even start searching right on the site or contact an agent who will be happy to answer any questions. 

Clicksmart - Connecting Consumers and Professionals

There is so much information available on the Internet, but it's not always good information. It's hard to tell the difference between good and bad sometimes. Clicksmart is an online directory of certified, pre-screened experts. Clicksmart takes the guesswork out of choosing the right real estate agent, insurance broker, landscaper, or other professional. If a business or professional is listed with Clicksmart, that means they have met certain requirements in order to be certified. If they don't meet the requirements, Clicksmart doesn't list them.

If you need a raleigh landscaper, you enter your zip code or city and state, and you get a whole list of Clicksmart certified landscapers. You can even search within those results. If you don't need a landscaper in Raleigh, you can search other cities and even find attorneys, realtors, contractors, massage therapists, and other types of professionals.

Come to think of it, we could use a landscaper for that patio project, just not one in Raleigh. I'll have to enter my own zip code.

Want to Make Money in Real Estate?

We watch those shows on TV, where people buy a house or property, fix it up or do something to make it more attractive, and sell it for a profit. You know how the shows are. They make it look easy. Unfortunately, there is more to it, or everyone would be buying and selling real estate, right?

Now there's a powerful online investment property calculator that helps make it easier. You plug in all the information about the property you're interested in and Real Estate Genius builds an entire financial model within minutes. You can look at it and see whether that property will earn you money or lose you money. It doesn't take hours, and you don't have to figure out on your own what is important and what isn't. You get the same information the experienced real estate investors get and know. You can run best case scenarios and worst case scenarios and get a clear picture of the deal before you get involved. I'm sure that would help in deciding whether the risk is worth it.