Curb appeal gains new importance in selling your home

If you are thinking of home improvements that will offer the best return when you sell your home, you may want to wait before updating the kitchen or adding a new bath.

Your greatest return on dollars invested now could be for increasing a home’s curb appeal. Your goal should be to make the outside of the house look really great so people fall in love with it before they even step out of the car.

Freshly painted trim and new hardware also help a home show well. And landscaping, including well-manicured trees and shrubs, can help older homes compete in the marketplace.

New windows, doors and siding are more expensive improvements but make homes look well-attended. They also help make homes more energy efficient, which is a factor with today’s high energy costs.

During the housing boom, kitchen and bath projects brought a 90 percent return on investment when the home was sold. That’s not true anymore. Now the return is about 70 percent or lower. Remodeling activity peaked in 2006, declined in 2007, and is expected to decline by 4.8 percent a year through 2009, according to the Harvard Joint Center for Housing Studies.

If a remodeling project makes a home stand out from others in a similar price range, it might still be a good idea. But beware of remodeling on the cheap. Inferior cabinets and poor workmanship won’t fool buyers. Home searchers aren’t making snap decisions in these times. They’re taking their time and paying more attention to value.

That being said, go back to improving the appearance of your home from the outside. Potted flowers, trimmed bushes, and an edged lawn are less-expensive projects that give buyers that all-important, positive first impression.

Residential Homes, Condos and Land Waterfront and Golf Course Communities in Martin and Saint Lucie Counties

Martin County Condominium Market Report

Here are the graphs I’ve compiled from the latest Market Report for Martin County Residential Sales and Listings with data supplied by the Realtor Association of Martin County:

Our 3-month average absorption rate is now at 18.5 months. Single month average is 19.3 for June. Definitely trending in a positive direction. The ideal range for a balanced market is 6 months.
The Definition of Absorption Rate:
The number of weeks it takes to sell the current inventory at the present rate of sales. Knowing your area’s Absorption Rate helps to track trends. Understanding the market and where it is headed is part of our job as real estate professionals. The absorption rate is NOT an exact science. Figuring it is based on the premise that one will be looking for a TREND. It is advised to consistently do the numbers each month, to be able to track a trend.
For June, the average sales price had an uptick for the first time in many months. This is mostly from the mix of condos sold rather than a trend in sales prices. But, it is another positive sign. Listing prices continue to slide lower in reaction to buyer demand.
For additional information about Martin County real estate on Florida’s Treasure Coast, visit our website or call us at (772) 888-2885.

Price Reduced on Immaculate Waterfront Pool Home in North River Shores

North River Shores, Stuart – Announcing a price reduction on 2196 NW Fork Road, a 3,989 sq. ft., 3 bath, 3 bdrm 2 story “Solid Concrete Construction”. Now MLS® $850,000 USD – .

For more info, visit our website or call us at (772) 888-2885.