ERA JUSTIN REALTY REVIEWS BEST 2019 DOLLAR-FOR-DOLLAR IMPROVEMENT BENEFITS

ERA JUSTIN REALTY REVIEWS BEST 2019 DOLLAR-FOR-DOLLAR IMPROVEMENT BENEFITS

Wouldn't it be nice if you were able to earn back every dollar that you invested in renovations when you sell your house? Most people actually hope for more than a dollar-for-dollar return. In reality, many improvements return less than the amount they have invested.

For example, in a past Cost Versus Value Report, published by the National Association of Realtors, as reported by Inman News, nationally the average percent recouped on a bathroom remodel was 90.1 percent. It was 88.1 percent for a deck addition, 81.2 percent for a family room addition, and 79.4 percent for a major kitchen remodel.“It's important to do due diligence investigations before embarking on a remodel project, just as you would if you were considering buying a new home. There are many variables to consider,” stated Ron Darby, Realtor Broker with ERA Justin Realty Co. "Consider that the figures quoted are national averages. The amount recouped on a remodel depends in large part on where you live. There's significant variability from one city to the next, according to the NAR report.  For instance, nationally, homeowners recouped only 90 percent on a bathroom remodel. But, the amount recouped for the same job was 109.7 percent in New York City, 100 percent in San Francisco, and only 61.3 percent in Denver, on average.  The return on a remodeling investment will also depend on the value of your home, particularly in relation to the value of homes in your neighborhood. If you have a small home in a neighborhood of larger, more expensive homes, you could come out ahead by enlarging your home. However, it's important to keep costs in line so that you don't end up over-improving your home for the neighborhood. Buyers tend to discount a home that's priced above the value of other homes in the neighborhood. Before remodeling, it's also important to consider your competition. In some areas, certain remodeling projects are taken for granted. For instance, if you're in an upscale neighborhood of older homes where most homeowners have remodeled their kitchen and bathrooms, you may be penalized price-wise by the market if your home is outdated. In areas where home prices are stable, you're likely to gain more on your remodel investment than you would during times of meager appreciation.

There's a subjective factor that can't be overlooked when remodeling. This factor is often referred to as pride of ownership. And, don't discount the value of creature comfort. There's a certain sense of well being to be derived from a home that suits your lifestyle while aptly reflecting who you are. Despite these factors, from an investment standpoint, it makes sense to consider resale value before making an investment in a major renovation. This doesn't mean that you should remodel your home with someone else in mind. But, if you're aim is to recoup as much of your investment as possible, it's wise to consider homebuyer preferences in your area. If your remodeling is not in tune with what buyers want, it could actually decrease the value of your home. Also keep in mind that while trends change, quality and good taste are timeless.  The NAR Cost Versus Value Report was based on professional judgment rather than on actual sales data. Therefore, the report is somewhat subjective. However, it does point out the importance of carefully considering before remodeling.” 

Darby concluded, “At ERA Justin Realty the words, ‘There is a difference in real estate companies’ is more than a phrase. ERA Justin Realty has been selected by thousands of buyers and sellers as their Realtor of choice since 1950 when beginning its years of operation and 18 consecutive years as Rutherford's #1 agency in closed transactions.” 

All of the ERA Justin Realty full-service Realtors can be reached at either of their two Rutherford offices at 118 Jackson Avenue and 57 Park Avenue.  By office phone (201) 939-7500, (201) 438-0588 or (201) 438-SOLD.  Additional cutting-edge real estate technology and information await you at their websites.

ERA JUSTIN REALTY SHARES FIRST IMPRESSION TIPS FOR SELLING

 

ERA JUSTIN REALTY SHARES FIRST IMPRESSION TIPS FOR SELLING

When it comes to your home, first impressions are everything. Buyers will drive by and make an instant decision on whether they want to step inside. The exterior of your home, in conjunction with the landscaping, has the ability to make or break the first appearance. Just as important as accessories are to completing an outfit, the perfect front door can instantly increase the curb appeal of your home.

Ron Darby, ERA Justin Realty Broker Co-owner, with forty-eight years of experience, said, “To gain the viewpoint of the potential Buyer, walk across from the front of your home and give it a critical look. Is there something that is less than appealing? Does it look neat, clean and most of all, inviting? Take notes and decide where your improvement dollars might be best spent. Whether you replace your front door, or spruce up the one you now have, the improvement will be noticeable. You will get your share of positive comments from friends and neighbors about how handsome the house looks.  Depending on your home's exterior finishing, you might consider painting the door a color that complements the color of the trim, rather than matching it. Consult a color wheel, and consider the colors located adjacent to the trim color, or directly opposite. The door is a relatively small space, considering the expanse of the front of most homes, so you can choose an unconventional color for the door and not have it overwhelm the facade. And because of the small area of the door, it can be easily repainted if you change your mind.  If you have a solid wood door, consider refinishing it. If the wood is particularly beautiful or interesting, you can simply oil or seal it to show off the grain. Talk to someone at the paint store about the best way to enhance the appearance of your wood door and protect it against the elements.  You can also freshen up the entrance by polishing or replacing the hardware on the door. If the doorknob, lock, and kick plate are shabby, buy new ones.”

Darby continued, “Fiberglass doors are popular for special orders. Fiberglass doors do not dent or chip, and are impervious to the weather. Steel and fiberglass top the list of popular door choices, but wood doors continue to do well. Wood surfaces must be refinished and varnished every few years, depending on how much they are exposed to the elements. Mahogany is a popular choice, especially in wet or humid climates, because it does not expand or contract much. Oak is an excellent wood for a front door but is very hard and does not accept paint well. Keep this in mind should you decide to paint it later on. Consider whether your home is stucco  or brick, and note the interesting architectural details. Your front door should enhance the existing elements, not compete with them. Newer homes with cleaner exterior lines can take on an elaborate door, though the design should be in keeping with the home's size and style. New stock doors give you dozens of options, while a custom door is often the focal point of the property. Whether you paint, refinish, or replace the door, freshening up the entrance is sure to enhance your home's curb appeal.”

Jennifer Darby Metzger ERA Justin Broker Co-owner suggested, “While making a Comparative Market Analysis (CMA) report for our Sellers, a comprehensive report in all aspects, we can make some first impression suggestions.  It is complete with color photos and detailed information, and can make pricing easier for those planning a sale.  Truly, there is a difference in real estate companies, and our details will make the difference. We ask Buyers and Sellers to compare.  We believe that in order to exceed expectations of what ERA Justin Realty is about, we don’t offer just real estate basics, we try to be as comprehensive as possible.  In that way, we know that our Buyers and Sellers will hold us all in the highest regard.”

ERA Justin Realty proudly received the prestigious ERA ‘Commitment to Excellence Award’, a premier ERA real estate firm award from approximately 30,000 ERA brokers and agents.  All across the nation, the most sought award that can be achieved in business is the ‘J.D. Power & Associates’ award. ERA Real Estate was a recipient of ‘Highest Satisfaction for First Time Home Buyers Among Full Service Real Estate Firms.’ Award. For these reasons ERA Justin Realty should be your buying and selling Realtor of choice.

For more information on CMAs, consumers can reach the ERA Justin Realty sales team at either of their  Rutherford offices at 118 Jackson Avenue or 57 Park Avenue. By phone at (201) 939-7500, (201) 438-0588 or (201) 438-SOLD.  Additional real estate information is also available at the firms 1000's of homes websites at www.ERAJustin.com and www.ERAJustinRealty.com.

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