Category Archives: Real Estate

Cost vs Value of a Remodel

Remodeling magazines annual Cost vs Value report cites the 5 home improvements offering the greatest return on your investment. (Pacific region)

1. Front Door Replacement: A new steel front door with an average cost of $1464 offers a 112% return

2. Garage Door Replacement: A new garage doro with an average cost of $1514 offers a 96% return

3. Deck addition: The addition of a new wood deck with an average price of $13,827 offers a 86% return

4. Siding Replacement: Fiber cement siding with an average cost of $13,920 offers a 85% return

5. Kitchen Remodel: A minor kitchen remodel with an average price of $23,603 offers a 84% return

Buying Now vs. Buying Later

As buyers try to determine the absolute bottom of home prices in their area, they may be missing out. With the low interest rates and affordable prices, now is the time to buy! Interest rates are sure to rise in the near future, so even if your dream home drops in price, with the rise in interest rates, you could be paying more per month. For example, look at the following scenario:

Alison Paoli of the Zillow blog offers three scenarios for a typical home she calls 100 Main St.:
  • Buy the home for $300,000 in November 2010 with an interest rate of 4.1%: Monthly payment is $1,159.
  • Buy the home for $294,600 in January 2011 with an interest rate of 4.7%: Monthly payment is $1,222.
  • Buy the home for $276,924 in January 2012 with an interest rate of 5.1%: Monthly payment is $1,285.

Your Commute

Drive times to work continue to grow as consumers seek less expensive housing and are willing to commute further for a job. The number of people with commutes over 60 minutes rose from 6.7 million in 1990 to 10.4 million in 2009 according to Census data. Also, commutes greater than 90 minutes rose from 1.76 million to 3.2 million. Courtesy of Realtor.org by G.M. Filisko
How long is your commute?