So How Do You Really Feel About Foreclosures?

One of the hot topics regarding real estate is foreclosures. Are there really a lot of them and are they a good deal. In a recent online survey by Harris Interactive on behalf of Trulia.com, there are some interesting observations regarding whether you, the buyer, would consider purchasing a foreclosure and of those surveyed whether or not they thought there was any negative aspects involved in purchasing one. Here are the facts.

Interest in foreclosures is on the rise. The amount of searches conducted for foreclosures have more than tripled in the first quarter of 2008, rising by 214%. The survey was conducted in late April of 2008 and shows that over half would consider purchasing a foreclosed home.

Do buyers feel there are negative aspects in purchasing a foreclosed home? Yes, 69% of those surveyed said they believed there were with the negative aspects believed to be 69% cited hidden costs, 35% considered the prospect as risky and 33% mentioed the possibility of the home losing it’s value. These are all valid concerns and should be addressed. The following list of guidelines should help. Read more

Which Home Improvements Have the Best Return

If your thinking about remodeling your kitchen or bath even thinking of a pool, you probably want to get your investment back when you sell your home. But when it comes to payback value on home improvements, some are more profitable than others. Typically, kitchen and bathroom projects payback pretty nicely with installing a pool coming in last.

These numbers are given as guideline only, but will hopefully help you decide where you will spend your money. Some things to consider are, current market conditions and how well the improvements fit the neighborhood. If most of the homes have three baths and your has two, it would definitely help to add that bath when it comes time to sell. You can over do things as well. Adding too much to a home in a neighborhood where the homes have less will make it very difficult to get your money out of the project. And finally the popularity of the project will affect the return. Making it too individualized can be a detriment. Some things you just have to say “I’m doing for my own enjoyment” and not expect a return on investment but rather just the cost of enjoying the update.

Here are some percentage guidelines to follow:

Kitchen remodel - 90%

Bathroom addition - 90%

Add a room - 55%

Add a deck - 70%

Add a pool - 45%

What Service Looks Like

Service is all about what you, the customer expects and possibly some things that you may not expect. Obviously you would expect the person providing the service to be attentive to your needs even to the point of anticipating your answer before you voice it. But service is much more than that! It is being knowledgeable about your point of expertise and being able to share that in way that makes a memorable experience for you the buyer. In every transaction there are possibilities for bumps in the road, but having someone with the knowledge and experience to help smooth out the rough spots can be invaluable. Don’t consider possibly the largest purchase you will ever make to someone with out the expertise and caring it takes.