Remodeling magazine, in conjunction with REALTOR® magazine, recently released its 2009-10 annual report on the relationship between the cost of remodeling projects and the value that it brings at the time of resale. This is the 22nd year of analyzing national and regional data for 33 of the most popular remodeling endeavors. The projects ranged from a 48.1% return on investment to a 128.9% return. Overall, the Pacific region still retains the position of best return in most categories. San Francisco, CA, Honolulu, HI, Anchorage, AK and El Paso, TX are all high on the list.
Now more than ever, the old adage “you only get one chance to make a good first impression” rings especially true for real estate. With a larger than normal inventory available for buyers to chose from, sellers need to present their homes in the best possible light at all times. Of course the selling process begins with pricing the home properly based on its location, size, and condition. The next phase is to critically assess and evaluate a home’s “showability” to get it into showing condition and ready for potential buyers.