Remodeling costs are down an average of 5 percent to 10 percent nationwide with some areas down 20 percent, the remodeling industry reports.

In the 12 months that ended in March 2009, the most recent data available, $118.2 billion was spent on home-improvement projects, down from $146 billion in the 12 months ending in March 2007 – the national peak of remodeling activity – according to a report from the Harvard Joint Center for Housing Studies.

One of the reasons for the price decline is competition. Most home buyers spend the most on remodeling within the first two years after purchasing a home. Not only are there fewer home sales, but also strapped home builders are seeking remodeling work, confirms David Crowe, chief economist for the National Association of Home Builders.

Source: The Wall Street Journal, M.P. McQueen (10/28/2009)

©2009 Scripps Networks LLC.,
9721 Sherrill Blvd., Knoxville, TN 37932

More than 80 percent of new single-family homes have at least two bathrooms, which occupy an average of 300 square feet of floor space, or 12 percent of the total area, according to a study by the National Association of Home Builders.

The home builder’s study reports a major return on value for extra bathrooms: “When the number of bathrooms is approximately equal to the number of bedrooms, an additional half-bath adds about 10 percent to the home’s value, and one additional bath adds about 19 percent.”

A mid-range bathroom remodel, which costs $10,500 on average nationwide, repays a home buyer at least 100 percent of the outlay when the property is sold, the home buyer study concludes.

Source: Chicago Tribune, Mike McClintock (09/21/2009)

 8 Stylish Budget-Friendly Ideas

There is no better time than fall to get yards looking great, according to the “Yard Doctor” Trey Rogers, a professor of turfgrass management in the crop and soil sciences department at Michigan State University.

Here are 6 tips from Rogers to help you and your clients take advantage of the seasonal weather and vibrant colors to add dramatic curb appeal.

Read the rest of this entry »

©2009 Scripps Networks LLC.,
9721 Sherrill Blvd., Knoxville, TN 37932

Here are some of the factors that appraisers Joni L. Herndon of Real Property Analysts/Gulf Coast in Tampa, Fla., and John A. Hillas of Hulbert & Associates Inc. in Modesto, Calif., say they consider when determining value.

Read the rest of this entry »

Mold is a type of fungus made up of tiny microscopic organisms that can grow practically anywhere, such as on ceiling tiles, wallpaper, wood, paints, carpet, and insulation. It multiplies via spores and shows itself in a variety of colors, from greens to browns to pinks, grays, blacks, and yellows. The most common mold growth area in the house is the bathroom, since mold grows on moist materials.

If you spot mold in one of your listings, you’ll first want to size up the problem, and then create a plan for safe and complete removal.

If the mold is found in a small area, less than 10 square feet, removal can be a do-it-yourself project. Here’s how:

Read the rest of this entry »