COSTS vs VALUE 2015 Report – Exterior Improvements Best Return on Investment

When you begin to consider remodeling or home improvements, homeowners should consider the return on investment(ROI) or recouping of their costs. Many updates are preformed simply because the homeowner desires that upgraded kitchen or bathroom. It is important to remember that many, if not most, updates are not great ROI, because they are more for personal reasons rather than a cost vs. value.

“It can be a daunting task to even decide on what home improvement projects to undertake, let alone to physically tackle and complete them,” says National Association of Realtors (NAR) President Chris Polychron. “Realtors know what buyers are looking for during their search, and curb appeal is and always will be important. That explains why Realtors once again rated exterior projects as some of the most attractive and valuable for homeowners.”

Seeing these reports now for many years in a row I have noticed one update that always stands above the rest in terms of cost vs value; the steel entry door. According to Realtors, a new steel entry door returns about 101.8% of its costs upon resale compared to 96.6% last year. For my sellers and marketing the property to future home buyers we always start at the curb first and front entry way next. These areas are two of the most important areas to focus. Why, because first impressions do matter and the entrance to every home being marketed for sale should be warm and inviting. If you cannot afford to replace the front door, then we suggest a good painting and replacing all door hardware for that fresh and clean look.

The good news is the steel entry door is consistently the least expensive project in the report.

Rounding out the top 10 projects in terms of cost recouped:

  • Manufactured stone veneer (92.2 percent)
  • Garage door replacement – midrange project (88.5 percent)
  • Siding replacement with fiber cement (84.3 percent)
  • Garage door replacement – upscale project (82.5 percent)
  • Vinyl siding replacement (80.7 percent)
  • Wood deck addition (80.5 percent)
  • Minor kitchen remodel (79.3 percent)
  • Wood window replacement (78.8 percent)
  • Foam-backed vinyl siding replacement (77.6 percent)

© 2015 Florida Realtors® http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=2&id=317926

 

NAR: Home Sales Going Up for 2015

What does this mean?

Well Lawrence Yun, NAR’s Chief Economist predicts an approximate 7% rise in existing home sales for 2015. The key will be a strengthening economy and job growth. Yun sees more first-time buyers entering the market as well in 2015 with expected new mortgage products, low down payments and PMI(private Mortgage Insurance.) He warns if interest rise this year it could add hurdles to buyers and sellers. Many sellers have locked in such low interest rates over the past few years they may be very reluctant to commit to a much higher future rate. Yun’s preliminary analysis of sale in 2014 appeared to by around 4.94 million, which is about 3% below 2013. However the median existing sales price increased 5.6% from 2013 to 2014.

Watch this video for more information on the economy and housing market:

Source: National Association of REALTORS® ; http://realtormag.realtor.org/daily-news/2015/01/08/nar-home-sales-only-going-up-from-here?om_rid=AAEWoH&om_mid=_BUrvNWB8$sIYZV&om_ntype=RMODaily

SOLD!!! But we can help you find similar properties!

Are you hunter, fisherman or just love outdoors. This 3 acre partially fenced tract is located down rough country road but provides great privacy, peace and quiet. Borders Florida Power and Light acreage and affords plenty of hunting, off roading and some of the greatest fishing in Florida is only minutes away at Rodman Reservoir. Come see this 2001 doublewide manufactured with 3 bedrooms, 2 baths manufactured home with 1104 living square feet. Kitchen has newer cabinets and lots of counter space with eat-in-dining area. Approx 90% complete upgrade inside home includes new carpet, vinyl flooring, paint, wood wainscoating, light fixtures and more with only a few things left to finish it up. Pole barn is started and just needs completed. Plus additional storage shed. Seller states well is free flowing too, now that’s hard to find! 

MLS#418632

Asking Price: $37,000

Bedrooms: 3

Baths: 2

Living Square Feet: 1104

Lot Size: 3 Acres 372-287-20-1084

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Boost Credit Scores with Rental Payment History

Did you know? Experian became the first credit reporting agency to add on-time rental payments to its database. Rental payment data being added to credit files can potentially help renters become homeowners and we can only hope the other credit agencies will follow suit. For many Americans establishing credit can be difficult because many credit card companies and retail stores are not approving credit applications as easily as in past years. Potential buyers are now going to see they will have a credit score and hopefully help them achieve a lower risk category too, Experian says. “Consumer financing rapidly changed during the economic upheaval, and regulatory changes forced lenders to tighten the standards for the underwriting process,” says Genevieve Juillard, president of Experian Consumer Information Services. “This excluded many Americans from the opportunity to attain credit due to a limited or no credit history. Residents who pay their rent on time month after month should be rewarded and not overlooked simply because they rent instead of own the place they call home.”

Experian recently conducted an analysis to determine how the new rental information has aided consumers’ credit files. The study shows that the addition of rental history on a subprime mortgage moved the participant up at least one higher(or less risk) by the addition of the newly added field. What does this mean for potential buyer? It means more affordable credit and additional credit opportunities.

To read more about the lead being taken by Experian click here>>>>>>Experian-rentbureau-credit-for-rent-analysis

 

“Real difficulties can be overcome; it is only the imaginary ones that are unconquerable.”

– Theodore Newton Vail U.S. telephone industrialist

Source: http://realtormag.realtor.org/daily-news/2014/08/08/study-rental-payment-history-can-help-boosts-credit-scores?om_rid=AAEWoH&om_mid=_BT5TNOB87s9Kmy&om_ntype=RMODaily

Lake Diamond Golf & Country Club – Ocala, FL

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Enjoy this stunning 3 bedroom 2 bath pool home across the street from Lake Diamond golf course. Home is 1904 living square feet with 2 car garage, nicely landscaped and ready for new owners. As you enter tiled foyer you are greeted by cathedral ceilings and lots of natural light from the dual sliders leading to the pool. The kitchen has granite counters and lots of cabinets and storage and built in work station. Formal dining room is open and great for entertaining guest. Spacious main bedroom includes decorative ceiling bay window, dual closets leading to tiled bath including jetted tub, privacy toilet and glass shower enclosure with door leading to lanai and pool area. Many great features and priced to sell. Home is a great value for this gated gold course community and anyone would be proud to own this home and invite family, relatives and friends over for a day of golf and then relax under the shade trees in the pool. Offered @ 121,250 MLS# 402007

 

Deerback Lake w/ White Sand Beaches

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Beautiful Lake Front 1990 Manufactured Home with 2 bedrooms and 2 baths on Springfed Deerback Lake located 7 miles North of Fort McCoy and only 35 minutes from Ocala.  Relax under the Oaks trees and watch the spanish moss blow in the breeze. Catch largemouth bass, bluegills, catfish and so much more. 1036 Living Sq. Ft. with central A/C and Heat and wrap around deck. Loaded with upgrades like Metal Roof, Hardwood Floors, Fireplace and Extra Large Screened Porch and Deck overlooking lake. Lighted Dock With Water. Move In Ready! Bring The Boat, Skis and The Fishing Pole. Listed for $99,999

 

 

 

 

 

 

 

 

 

Majestic Oaks / 5625 SW 85th Place Ocala FL 34476MLS 400129

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Stunning home with soaring cathedral ceilings, many plant shelves, as you enter you will notice the tile floors throughout foyer and living room. From the living room enjoy the pool views through with triple slider overlooking pool and waterfall(currently needing repair). Custom kitchen with lots of counter space, storage, center island and stainless appliances(including microwave, range, and dishwasher). Entertain in the formal dining room and relax in the study/den after long day. Spacious master suite includes slider to pool, his and hers closets, master bath has lots of counter space double sinks w/ marble tops, and glass shower enclosure. Home needs some TLC but priced accordingly and ready for new owners.

MLS 400129.  Asking Price $144,500

ATV/Horse Trails, Fishing, Hunting

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Are you a hunter, fisherman, ATV junky or outdoor enthusiast? If so this is your new weekend retreat or slice of heaven property for full time resident. If you like privacy and wildlife come check this property out! Located on 2.94 fenced acres includes 2 Bedroom, 1 Bath Single-wide manufactured home with 10×22 screen porch on concrete slab. Relax in this very private setting located within minutes of the Rodman Reservoir for nationally renowned Largemouth Bass fishing or just cruise the Ocklawaha River. Detached 20×40 building with bathroom can be finished to your liking. HUGE 30×60 metal building with covered carport in front and huge roll up door w power and lights would make great workshop and storage for all your toys, tools and equipment. Property is fenced and surrounded only by trees, come explore the Ocala National Forest and all it had to offer! Asking Price: $69,900 MLS# 396971

 

http://animoto.com/play/DQilfyjKhcbuiN0l8d9h2w

 

 

Little Lake Kerr Canal Home

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Little Lake Kerr(Lake Warner) Canal home is located on .29 aces with approx. 100′ of waterfront and is ready for new owners. Built in 1956 this concrete block homes was one of the first built on the canals leading to what the locals call Little Lake Kerr. Large living room with brick fireplace and surrounded by windows. New energy efficient windows throughout entire home and electrical panel and wiring updated. Kitchen: tiled, lots of counter space and cabinets with new tile back-splash, and spacious walk in pantry. Florida room surrounded with windows and beautiful view of trees & landscaping. Also includes 2 car attached carport and enclosed garage. 9 varieties of citrus and fruit trees, plus areas of landscaping and sitting areas in shade under big oak trees. Home needs updating and TLC, but there is tons of potential in this oldie but goodie of a home. Water level is very low at this time.

 

Salt Springs / Ocala National Forest Home on 5+ Acres

Wow what a gem in the rough. Situated under Old Grandaddy Oaks draped with moss blowing in the breeze this 2,000+ square foot home is ready for new owners. 1963 wood frame home is located on 5.78 acres and includes outbuilding with 2 car detached carport + storage. Located only minutes from the beautiful Salt Springs and Campground with hunting, fishing, trail riding and so much to do. The home is older and needs work, but this house can be turned into weekend getaway/ hunt camp or full renovation for retirement enjoying the quiet country “good” life. Sit back, relax and stay a while, you’ll be glad you did!

 

 

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