So, you’re contemplating selling your home. You have an older home that could use a little updating before putting it on the market. There’s a lot to consider and one of the top items on your list may be which renovations to my house will bring the most value at time of sale?
Renovating certain areas of your home can help sell your house. As compiled in the Remodeling 2019 Cost vs. Value Report (www.costvsvalue.com), the top three categories that return the most value are the following:
According to the Remodeling 2019 Cost vs. Value Report (www.costvsvalue.com),
“The value of a remodeling project at resale is always subject to factors that are difficult to predict. Changing how a space is used may meet the immediate needs of the current homeowner, but may conflict with what prospective buyers seek. Converting a small bedroom into a grand master bath may be perceived by a prospective buyer as the loss of a bedroom rather than the gain of a luxury bathroom. Similarly, adding square footage may solve immediate space needs, but it also adds to maintenance costs. Additions may also affect energy costs, although current codes ensure that most additions will perform as well as or better than the rest of the existing house. And remodeling projects are often seen as an opportunity to upgrade energy efficiency through air sealing, adding insulation, more efficient lighting and HVAC equipment, and other measures. These may have a positive effect on value in this era of heightened awareness about energy use.
How the value of a remodeling project is perceived also depends on a variety of factors that traditionally affect home values, including the condition of the rest of the house, the value of comparable homes nearby, and the rate at which property values in the surrounding area are fluctuating. Comparable values are still affected by the presence of foreclosed properties, although this issue is diminishing in many markets.
The Cost vs. Value Report provides an accurate snapshot of the national housing market, but it cannot be applied accurately to an individual remodeling project for a particular home at a particular street address. Resale value is one factor among many that a homeowner must take into account when making the decision to remodel. At the local level, the best course of action is to obtain construction cost estimates from reputable local remodelers and to talk with an experienced Realtor about home prices in the neighborhood. “
The Ann and Randy Real Estate Team, the realtors you know, trust and refer have the experience to assist with the decision to renovate and much more. We look forward to helping you get the most value from your home sale.
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January 2019
Backstory: Of my mother’s nine siblings, five contracted appendicitis. One sibling died after it was misdiagnosed as stomach flu. Since I heard that story, I’ve carried a loathing of appendicitis. Would I recognize it? Would my doctors? Would I overreact? Would it strike slowly? Quickly? Am I paranoid to worry about it?
In case you too are wondering whether this could happen, maybe this will help you recognize it and act.
As a Realtor I try to time block multiple client meetings, whether over coffee, through listing/buying presentations, every day. One recent Thursday night, I woke up in the middle of the night with a belly ache. I don’t get belly aches often, but this felt different than others I’ve had before. Since I am attuned to Appendicitis my first thought was “maybe this is it!” I ended up going back to sleep and woke up a few more times with the same stomach ache. I had a 10am meeting the next day over breakfast. The belly ache was not severe, but it was “there” and after 2 hours, I squirmed to get out of that chair. Next, I had a 1pm meeting – with lunch! I was feeling a little worse then and the last thing I wanted to do was sit and eat more. Ordering soup and ginger ale, I did my best to keep up my end of the conversation. I don’t drink sodas, so my business partner knew this belly ache was getting to me. The final meeting of the day was showing property from 3-5:00. My discomfort was increasing. There was no specific pain, just a general stomach ache, followed by chills toward the end of the showings. I just wanted to be home and remove the clothes that felt constrictive. The chills worsened. Still vague and non-specific, the belly pain increased. I could not pinpoint the pain location, but I decided to draw the line; if the pain remained sharp in the morning I’d check into the Emergency Room. The pain continued steadily upward; there was no ebb and flow.
I rose, showered, and checked into the ER by 8am on Saturday. (Lesson learned: if you can plan your emergency, 8am on a winter Saturday may be a good time. Sparsely populated and alert staff ready for action.) I answered a few questions, and they took me back to a room. A few minutes later a Physician’s Assistant and Nurse asked me specific questions. Chills and a dull stomach ache accentuated with sharp twinges migrated to the lower right abdomen as classic appendicitis. For the prescribed CT scan I was ordered to drink 1000 ml of “contrast,” which resembled water (huge improvement over contrast from 20 years ago – a blend of water, chalkboard dust, and “berry” flavoring). Within a couple of hours (by 1000) they ran me through the CT scan and confirmed an inflamed appendix. A surgeon appeared shortly thereafter and operated on me by noon. I was done by 2:00.
So if you suspect appendicitis: Any belly ache that persists longer than a day, go to the ER or your Doctor. I waited too long and had to stay in the hospital over night because it had ruptured and toxic seepage required strong antibiotics to prevent infection. Remarkably, if your appendectomy is done before your appendix ruptures, you may be home the same day as surgery! Practically out-patient surgery. Don’t worry, the surgery included general anesthesia, meaning you are not awake and will not remember anything. After an overnight watch in the hospital I was released with a week of antibiotics and a prescription for strong pain medication. I have not needed the pain prescription; OTC Aleve is fine. I am diligent about taking the antibiotic though. Nobody wants a relapse.
Recovery has been quick, but avoid hard exercise for 4-6 weeks. Walking is directed, though take it slow. Avoid bouncing. Ask your family and friends to not make you laugh. It’s horrible. And don’t get me started on coughing. Or sneezing. Take it easy. Walk around the house every few hours. Give yourself permission to get into whatever relaxing position feels good and let yourself heal. Oh, and no driving for 10 days so see if you can arrange help getting from here to there. Good luck and I hope somebody finds this helpful!
With many August home sales data points tracking horizontally or up, leaders at the Northern Virginia Association of Realtors conclude that the anticipated expected tax deductions have not adversely affected Northern Virginia home sales. For the short term, the limits to the state and local tax deductions (SALT) appear to be only a slight headwind to buyer confidence in our region.
A house is usually the biggest investment most families make, and the process takes careful review. With the average sold price for a two-bedroom townhouse at $435,000, many young adults in our region have taken their time to move out of their parents’ homes and start their own households. The good news is that when they do, their wealth building has a strong start ev
en though entry level price points continue to be lean in our region.
October is Breast Cancer Awareness Month and bringing awareness and helping those affected by this and all types of cancer is important to us. Christine is a 16 year survivor and is an active reiki volunteer at “Life with Cancer,” a community outreach and support group in Fairfax associated with INOVA Hospital. To show our support to Christine and to all of our friends, family and clients who have been touched by cancer, we will be donating $250 to “Life with Cancer “ for every new client, every new listing and every deal closed that occurs in the month of October! So this is the month to refer us to your friends and family who may be thinking of buying or selling in the next 12 months so we can start working with them early to realize their dreams and to help more people living with cancer in our community. Thank you!
When it comes to buying or selling your home, doing it by yourself can lead to frustration and aggravation… Not to mention costly mistakes due to inexperience with local laws and regulations regarding the transfer of real estate.
We are ready to help you in any real estate transaction by being an objective guide, helping you through the process, and using our experience to help you assess the particulars on any property. We are also experienced in the nuanced language of real estate contracts which can save you time and money.
Finally, we work for you. We pride ourselves in representing your interests to builders, sellers and other agents. We have expert consultants ready to help guide you through upgrading decisions or how to unlock the value in a fixer-upper. We can even help you get advice on where to locate and how big to make that backyard pool and hot tub combination.
In the end, we are here to apply our expertise to help you sell your home and/or find your ideal home.
We wish you a very happy, healthy, and prosperous New Year and look forward to working with you.
It’s not uncommon for the final months of the year to show the highest consumption of energy. As the weather gets colder and the nights get longer, we often turn on our lights and heating systems sooner during the day. This increase in energy usage typically means an increase in our monthly utility bill.
With proper preparation, it is possible to save money and stay warm all season long. Several tips include: setting the thermostat to 68 degrees when you’re home and lowering the thermostat 10-15 degrees when you are away, investing in a programmable thermostat such as the Nest will save up to 10% a year on heating and cooling costs, checking for gaps and cracks and caulking them when you see them prevents heat from escaping, installing thermal curtains and upgrading your windows or HVAC system.
Equally important is keeping your heating system in good working order to maximize efficiency and reliability. Our heating system expert tells us the best thing you can do to keep your system running smoothly is change the filters often. A clean system is reliable and efficient. If you haven’t been changing the filters, investing in a cleaning will greatly improve efficiency, save you money on your bills and increase reliability.
Stay warm this winter and save a few dollars while you’re at it.
January 2015 Newsletter Ann&Randy
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