Market Insights

Home Improvements That Pay Off When Selling Your Home

January 12, 2016 by admin

While the trendiest and sexiest home improvements garner the most attention on today’s popular TV shows, more mundane home improvement projects tend to be a better investment.

As of October 2015 The National Association Of Homebuilders (NAHB) estimates Americans spent over $326 billion on home improvement projects. The National Association Of Realtors (NAR) asked members to rank projects based upon expected value at resale time.

In the NAR survey the following home improvement projects received some of the the highest expected return investment on investment (ROI) in the opinion of REALTORS.

Interior Projects:

– Refinishing hardwood floors – 100% ROI

– Upgrading Insulation – 95% ROI

– New flooring – 91% ROI

Exterior Projects:

– New roof – 105% ROI

– New garage door – 87% ROI

– New vinyl siding – 84% ROI

One of the most popular renovation projects – a complete kitchen overhaul – was estimated only to have an ROI of 61%. Most home improvement projects are not undertaken with the thought to their resale impact but for the enjoyment and pleasure of the homeowner which is really what it is all about.

Wallingford PA Real Estate – Wallingford, PA 19086

2015 Buyer And Seller Profile – Infographic

November 5, 2015 by admin

Wallingford PA Real Estate – Wallingford, PA 19086

The Wide Appeal Of Hardwood Floors

June 8, 2015 by admin

Wallingford PA Real Estate - Wallingford, PA - Hardwood Flooring

Hardwoods Have A Wide Appeal To Buyers

Hardwood flooring is atop many of the wish lists for buyers these days. It is a predominant feature in many of the real estate shows show and has trickled down to a must have feature of many home buyers.

Sellers often ask is they should remove existing carpeting to reveal the hardwood floors beneath, and the answer is almost always a yes. I have seen homes languish on the market with dated carpeting, only to sell rather quickly once the hardwood floors are uncovered. It can make that much of a difference.

The Sunday Inquirer Real Estate section featured an article by Al Heavens, who asked me to contribute my thoughts on the subject for the article, discussing the appeal of hardwood flooring in today’s marketplace – Universal Advice: Refinish The Floors.

Wallingford PA Real Estate – Wallingford, PA 19086

The Spring Market Has Arrived

April 2, 2015 by admin

Wallingford Real Estate - Monthly Settlements

Settlements Peak In June – Buyers Are Looking Two To Three Months Prior

One of the more common real estate terms heard at this time of year is “The Spring Market”. This refers to the period of year in which real estate activity peaks. The Spring Market precedes the actual coming of Spring on the calendar, and while it does not have a fixed start date it generally gets underway in late February. This year with the mild winter we experienced, the Spring Market has arrived earlier than usual.

There is actual data behind this phenomena. Regardless of the state of the market – up or down – sales activity follows a predictable yearly pattern.

The chart above tracks the number of monthly settlements in Nether Providence Township and Wallingford over the years 2009 through 2014. Over 35% of the settlements for any given year occur in May, June, and July – with June consistently being the most popular month for settlements, at just over 15% of the yearly total.

February represents the bottom of the yearly cycle at just over 4.5% of yearly activity, and settlements at this time of year represent buyers who were in the market and went to contract during the holiday period from Thanksgiving through Christmas.

Given that the average time from contract signing to settlement is two months, it means that now is the time buyers are out in the market looking for a home. The timing and peaking of interest and activity at this time is no accident. A majority of home buyers base time their purchases to coincide with the school year calendar. They prefer to move into a new home during the early summer, and be in place prior to the start of the new school year.

Just as advertisers will pay big bucks to advertise during peak events such as the Super Bowl to reach the largest audience, it makes sense as a seller to have your home on the market when it can be exposed to the largest possible number of potential buyers, which is right now!

Are you considering putting your home on the market? I would be glad to meet with you and provide you with a free Market Analysis of your home.

Wallingford Real Estate – Wallingford, PA 19086

Why Americans Are On The Move

February 28, 2015 by admin

If your home is on the market or you’re planning to sell in the future, it’s helpful to understand the reason why people choose to move from one home to another. According to the Demand Institute, which surveyed 10,000 households, location is the driving factor in most moves.

In fact, 75% of respondents cited one or more location-related reason for their move. On top of the list was the desire for a safer neighborhood, and other commonly mentioned reasons included being closer to family or work, seeking a change of climate and moving for a new job. Yet, 59% of household still expressed a desire to remain within 30 miles of their current home.

Additionally, the survey results provided insight about which location characteristics were most important to consumers. Having amenities and services within walking distance was deemed most important, followed by good schools, near proximity to work and public transportation, as well as the desire for diverse neighborhoods.

See more findings from the Demand Institute Survey.

Wallingford PA Real Estate – Wallingford, PA 19086

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S. Clark Kendus