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Posts Tagged ‘home improvements’

Will the Real Estate Market Heat Up This Spring?

The spring season usually brings an increase in buying and selling to the real estate market, and housing experts are mostly optimistic that this spring will be even better than recent years.

Some signs are already there: Housing inventories are declining, housing affordability is at record highs, mortgage rates are at all-time lows, and the job market is improving.

Existing-home sales have been edging up in recent months, and for-sale housing inventories were at nearly 2.4 million units in December, reaching its lowest point since 2005, according to National Association of REALTORS® data.

NAR’s Chief Economist Lawrence Yun says home prices are beginning to stabilize in many markets.

Also, NAR’s Housing Affordability Index is at its highest level since the 1970s, which indicates that for the average family housing is very affordable.

The National Association of Home Builders is also predicting an improvement this spring among the new-home sector. NAHB is predicting that home sales will increase 18 percent this year, that’s after facing their lowest on record in 2011.

However, threats to a housing recovery still loom this spring. Strict mortgage lending is keeping some buyers on the sidelines, and foreclosures continue to put downward pressure on overall home prices in many markets.

“The signals are a little hard to extrapolate, but ultimately by the end of this year we should see the housing market on more solid footing,” says Celia Chen, senior housing economist with Moody’s Analytics. “So an improvement but off of very, very weak activity.”

Source: “Real Estate: A Buy or Bust This Spring Selling Season?” Investor’s Business Daily

If you are in need of an owner’s representative for building your own dream home in Aspen or Snowmass, Colorado or simply need to know how to go about building or remodeling a house as an absentee owner in the Aspen  area or the surrounding communities of Snowmass, Snowmass Village, Woody Creek or Basalt, Colorado, we are happy to assist! Please give us a call today at 970.948.8258 for a FREE consultation

Which Home Improvement Projects Offer the Best Returns?

Daily Real Estate News |

When it comes to remodeling, exterior replacement projects have routinely rewarded home owners with more bang for their buck. This year is no different: REALTORS® recently rated many exterior improvements as among the most valuable home investment projects as part of the 2011-12 Remodeling Cost vs. Value Report.“This year’s Remodeling Cost vs. Value Report shows the value of putting your home’s best façade forward, so to speak,” said National Association of REALTORS®President Moe Veissi. “Inexpensive exterior replacement projects are not only crucial to a home’s regular upkeep, but are also expected to recoup close to 70 percent of costs. Specific exterior projects such as siding, window and door replacements are part of regular home maintenance, so many homeowners are already undertaking them. These projects also do not require expensive materials and they have the added bonus of instantly adding curb appeal.”HouseLogic.com, NAR’s consumer Web site, includes dozens of remodeling projects, from kitchens and baths to siding replacements, which indicate the recouped value of the project based on a national average. According to the Cost vs. Value, seven of the top 10 most cost-effective projects nationally in terms of value recouped are exterior replacement projects. REALTORS®judged an upscale fiber-cement siding replacement as the project expected to return the most money, with an estimated 78 percent of costs recouped upon resale.Two additional siding replacement projects were in the top 10, including foam-backed vinyl siding, expected to return 69.6 percent of costs, and upscale vinyl siding, expected to recoup 69.5 percent of costs. Three door replacements were also among the top exterior replacement projects. The steel entry door replacement is the least expensive project in the report, costing little more than $1,200 on average and expected to recoup 73 percent of costs.The upscale garage door replacement jumped seven spots to number six this year, primarily due to the average cost of the project declining more than 15 percent nationally. The upscale and midrange garage door replacement projects are expected to return more than 71 percent of costs. One window replacement project — upscale vinyl — rounded out the last exterior replacement project in the top 10, expected to recoup 69.1 percent of costs.The 2011-12 Remodeling Cost vs. Value Report compares construction costs with resale values for 35 midrange and upscale remodeling projects comprising additions, remodels, and replacements in 80 markets across the country. Data are grouped in nine U.S. regions, following the divisions established by the U.S. Census Bureau. This is the 14th consecutive year that the report, which is produced by Remodelingmagazine publisher Hanley Wood LLC, was completed in cooperation with NAR.Source: NARIf you are in need of an owner’s representative for building your own dream home in Aspen or Snowmass, Colorado or simply need to know how to go about building a house as an absentee owner in the Aspen  area or the surrounding communities of Snowmass, Snowmass Village, Woody Creek or Basalt, Colorado, we are happy to assist! Please give us a call today at 970.948.8258 for a FREE consultation