Should I Remodel My Home Before Selling?

If you own real estate in Phoenix and are thinking of selling, a number of thoughts may come to mind. A common question involves whether to remodel before attempting to sell. There are certainly circumstances when you would want to make updates, but those decisions should be made carefully to ensure adequate return on your investment.

Basic ROI Strategy

ROI, or Return on Investment, should be your main factor when deciding whether you should remodel your home. How much will the market bear for resale with and without the remodel work?  Will it help gain a sale more quickly? If you do not gain significantly from the expense and time spent, it may be best to pass on the project or do less expensive facelifts. A trained real estate professional can help with this analysis before any decisions are made.

Cleaning and Staging

Fresh paint is the least expensive way to make your real estate in Phoenix absolutely shine. Touch up baseboards and trim as well and be sure the home is very clean. Eliminate any clutter and clear off counters and flat spaces. The home should be immaculately clean both inside and out, including windows. A thorough window cleaning can give the home a completely different feel to buyers. Landscaping should be neat as a pin. Another helpful sales technique is to use a professional staging service to arrange furniture, rugs and décor perfectly.

Dream Kitchens

A major kitchen renovation should be considered if the room hasn’t been updated in a long time or is in disrepair. Trying to sell a home with a shabby kitchen will be an exercise in futility and may cause major delays in receiving a satisfactory offer. Cabinetry should be replaced if it is damaged or poor quality. While new cabinets are a lovely addition to your real estate in Phoenix, you may get away with applying a high quality paint to provide an inexpensive facelift. Since the kitchen is the main selling point of a home it makes sense to invest a little more to make this room shine.

Bathrooms

Are any of the bathtubs chipped or unsightly? Old grout also tends to be an eyesore when trying to sell real estate in Phoenix so should be remediated before trying to sell. You may be able to use a bathtub refitting service to put an overlay product on the existing fixture, saving time and money.

Flooring

Damaged carpet or tile should generally be handled before listing the property. If the carpet can be cleaned successfully, you may offer a flooring allowance as a negotiating tool. If the carpet is ruined it is generally a best practice to have it replaced with something in a neutral color.

Selling real estate in Phoenix can be very lucrative, but it’s important to know what investments you should or should not make to make to the property before listing. For more expert advice, contact us today!

RooPho Realty June 2013 Newsletter

Here is June 2013 RooPho Realty Newsletter

Also, check out http://www.aznativeproperties.com/

Things you should know before buying a home.

I just saw this on CNN Money and thought they were good suggestions. 

The top 10 things you need to know when buying a home.

http://money.cnn.com/magazines/moneymag/money101/lesson8/index.htm

If you have any questions about these or anything else about buying or selling a home, contact me.

http://www.aznativeproperties.com/  or 602-224-0554

Are interest rates going up?

Will rates rise or remain relatively unchanged? Experts and Bankrate analysts predict where mortgage rates are headed over the next week.This week (May 30-June 5), 40 percent of the panelists believe mortgage rates will rise over the next week or so, 40 percent think rates will fall, and 20 percent believe rates will remain relatively unchanged (+-2 basis points).

Sounds like a tie doesn't it.  The word on the street is rates are going up, we just don't know how fast.  Values are still going up and in some areas faster than others.  Contact RooPho Realty for more information.

Foreclosures lowest since 2007 in Metro Phoenix

Foreclosures and foreclosure starts are at their lowest levels since 2007.  According to the information market, 1339 homes were forecloses on in January.  Many months from 2009 to 2011 were from 4000 to 5000 per month. The Phoenix housing market is no longer driven by the foreclosure market and there is no shadow market. 

Check out AZNativeProperties.com for a great selection of Urban Properties in Metro Phoenix.http://www.aznativeproperties.com/

Real Estate values up the most in over 6 years

Not only have home values in the US gone up the most in 6 years, Arizona real estate increased the most. 

Home prices when up 8.3% from Dec 2012 over Dec 2011 which was the largest increase since May '06.  Values improved last year in 46 of the 50 states.  Arizona increased an average of 20.2%.

Arizona does not have many properties on the market and many are selling in just days.  Many seller's are trying to take advantage of the increase in values as well as the low inventory and asking higher prices.  You need a Realtor specializing in many neighborhoods and able to help you determine the real market value before you make an offer.

Many economists expect values to continue to rise this year for previously owned homes.  New home builders are getting more confidence in breaking ground and started more homes in 2012 than in the last 4 years.

Assisting the housing markets improvement are the low interest rates and job growth throughout the country. 

RooPho Realty covers the entire Metro Phoenix real estate market.  Contact Chris@RooPhoRealty.com for more information on the market and the area you want to live.

Fireside at Desert Ridge, Phoenix AZ