Siding is the one item you get most of your money back. Painting and sprucing up the front is a big plus. First impressions are important. The buyers need to come thru the door for your sale.
Peter Brennan RE/MAX Real Estate Ltd in Brick, NJ 732-920-1900

Mon Jan 28 2008, 12:18

Dear Home Seller,

Here is some information that may be helpful:

HomeGain Press Release
January 07, 2008


HomeGain's New Real Estate Study Reports 578 Percent Return From 'Cleaning and De-cluttering' A Home For Sale
Leading real estate website conducts national survey to show highest return on investment of home improvements for selling a residential property

Emeryville, CA - JANUARY 7, 2008 - HomeGain, According to a national survey of 2,000 real estate agents conducted by HomeGain, the home improvement that has the highest return on investment (ROI) is cleaning and de-cluttering.

Results showed that, on a national average, homeowners who spend a couple hundred dollars on cleaning and de-cluttering a home for sale could yield a 578 percent ROI, which may be incremental home value of $2,000. The highest ROI was reported in the West region with an 837 percent return.

HomeGain's survey identified 10 most recommended home improvements for getting a home into "home selling condition" for minimal costs and within a quick time frame.

"With homes sitting on the market longer, homeowners should do everything they can to sell it quickly and at a price they expect," stated Louis Cammarosano, General Manager at HomeGain. "Overall survey results show that spending between $5,000 and $8,000 on the 10 home improvements can increase a home's value by $20,000 or more. This kind of information can prove to be useful to real estate agents in advising their home sellers."

In each of the four regions, East, West, South and Mid-West, surveyed real estate agents reported the top four recommended home improvements to be:

- Clean and de-clutter
- Lighten and brighten
- Professional home staging
- Landscape front and back yards



Other home improvements that may yield an average return of twice the cost included: paint interior walls; replace or shampoo carpeting; repair damaged flooring; update kitchen and bathrooms; paint exterior walls.

Visit the HomeGain Real Estate Blog to read the complete two-part article.

I hope this was helpful to you.

Sincerely,
Danelle Feigenbaum
Associate Broker/Realtor
Century21 Abrams, Hutchinson & Associates

Wed Jan 23 2008, 18:02

Hi Marcy,
I'm a home stager and first impressions mean everything. Curb appeal can mean the difference of a buyer turning away at the curb or coming inside. Your question is a bit tricky to answer because you do not mention the condition of the existing siding & windows. Painting is the cheapest investment you can make to sell a property, and yes, it should be done. Don't give buyers any reason to lower their offer further thinking they have to paint.
Sprucing up can mean so many things, is it packing up and decluttering or repairing cracks and holes in walls and screens? Weeding the garden or fixing up broken walkways?

Call in a stager - someone who is accredited to stage your home. They will give objective advice as to best market your home. The reason I suggest a stager as opposed to a realtor is a stager will be objective Sometimes realtors are concerned with offending homeowners regarding taste and decor. Some realtors are stagers too, ( I am) we've been trained to have a critical eye and will give objective advice. If you need new siding, they'll tell you that too.

Mon Dec 10 2007, 19:56

In today's market meaning your looking to sell it? Or just do some updates to your current home?

If you're looking to make upgrades to live in the house then the question should be what makes the most sense for your needs?

If you're looking to sell it, I would suggest to at least upgrade the windows and think about painting the current siding over re-siding the home if that is even an option.

Windows quickly and inexpensively add to a home's value. So it's no surprise that your return on new glass is excellent, whether you're contemplating a midrange window replacement (less than $10,000) at 84.5 percent or an upscale replacement ($15,000-plus) at 83.7 percent.

Don't go crazy

A final word of caution: To properly recoup all that sweat equity, keep one eye to your neighborhood. No matter how spectacular your results, don't plan on pushing your home's value beyond 25 percent of its current selling price; even in the best market, you probably won't get it. AND WE aren't in a "best market".

Sun Dec 9 2007, 21:19

If the siding is worn and not able to be painted it should be replaced. New windows are a great selling point when marketing your home. Not to mention if you get the proper type of windows they can also cut down on your central air/heat usage. Since global warming is becoming real important some cities give rebates for this kind of thing to reward in saving energy. Sprucing up the front is always a good bet when selling. Great curb appeal is important-first impressions are everything. Please take a look at this article I came across that talks about this very thing http://www.realtor.org/rmomag.NSF/pages/2007CostvsValue?Open…

Sun Dec 9 2007, 17:48

While curb appeal has always been important, in recent years, it is inreasingly so. More buyers do drive bys on their own prior to scheudling an appt to see a property, and they carefully inspect photos online. Even when approaching a property for a scheduled appt, a buyer can determine his/her interest immediately upon pulling up to the front door.

For that reason, the visual statement that your exterior makes is very important. You can have a great indoors, but if you loose your buyer at the street, it does not matter. However, the indoors still matters!

I am quite cautious before recommending major investments such as siding and windows. If the property unquestionably warrants such, I will. I also explain that such may be necesary to simply get a contract, and full recovery of the investment may not be the goal.

If you are planning on listing your property, call a few Realtors that you might be considering and get their feedback. Upon visually seeing your property, and knowing your budget, a Realtor will make suggestions on how to maximize that budget. Feedback from a Realtor will represent the collective viewpoints, likes and dislikes of mulitple buyers.

Sat Dec 8 2007, 23:23

Marcy,

From my experience in the boro many of the homes are well kept so it may be necessary for the condition of your home to be comparable. However, understand that "cost to replace" is rarely a 100% dollar for dollar return . . . compare the condition of your home to the existing "for sale" inventory and to your available funds to determine need.

The condition of your home may also affect days on market. So, here you will need to determine your need/motivation to sell . . . There are currently 88 homes for sale in the boro and an additional 86 that have sold since January . . . . days on market in the boro can be long.

If this seems a bit overwhelming by all means call in a local realtor or two to help you determine what's best.

Good luck!

Sat Dec 8 2007, 22:11

It really depends on how bad your siding looks. If it's conspicuously detrimental when you drive up to the property, it might be worth more than the "national average" for this sort of improvement. It might be 125% of cost, if it's really old, cracked, warped, etc. If your windows open and close properly and don't really look horrible, just paint. If half of them are stuck, and they look decrepit, you will get a larger return for replacing them. The basic principle is, given your budget, pick out the obvious warts and spend the money there to get the greatest return.

Sat Dec 8 2007, 20:49

How old is your home in Freehold.?If it is fairly new (under 20 years) it would probably be better if you spent your money on landscaping, paint and if your kitchen and bathrooms need it that is # 1 priority.

Sat Dec 8 2007, 20:33

I'm assuming that you'll be selling your home? There was an article on the Realtor Mag. this month exactly on this issue. National Ave (and I'm quoating the mag) of cost recouped for siding replacement comes in at 88% and wood window replacements at 81%. However, depending on your area, the # can vary. These two items are at the top so if your area has been steady or appreciating, the # may be higher and it might be worth it. If your area is struggling a little or your budget is limited (and whose isn't, these days?), painting and a little landscaping might be the ticket. Ask your realtor that you've selected or if you're interviewing, ask about this. They'll know the right answer for your area. Good luck!

Sat Dec 8 2007, 20:20