Tuesday, August 9, 2011

Make $5,000 Stretch in a Kitchen Remodel .......

By Melissa Dittmann Tracey, REALTOR® Magazine

A “minor” kitchen remodel will cost home owners, on average, $21,695, according to the Cost vs. Value survey, an annual report by Remodeling magazine, in cooperation with REALTOR® Magazine, that reveals the top remodeling projects offering the highest returns at resale. Home owners stand to recoup about 72 percent (or $15,790) of that investment from a kitchen remodel when it’s time to sell too.

So the kitchen can offer some big payback at times of resale, but for the average home owner, $21,000 nowadays may be too much for their budget. So what should you do when a dated kitchen is still in desperate need of some TLC?

Check out this video below from AOL Real Estate with Jeff Lewis, star of Bravo’s “Flipping Out,” sharing how he transformed a kitchen for less than $5,000. He painted the cabinets, added new countertops, replaced the faucet, added a stainless steel kitchen island, and accessorized to give the kitchen an updated, fresh look. What are your best ideas for remodeling a kitchen on a tight budget? Get more ideas at REALTOR Magazine online: Easy Solutions for Kitchens & Baths.

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A simple kitchen remodel can offer big payback on resale. The kitchen actually gives you the highest return .......when its time to sell. A few simple tips can guide you to highest yield ..... at minimal cost. Looking for a quick new look in your kitchen with out all the bells and whistles ?

Posted via email from Holly Wiesner Olivieri , The Staten Island Real Estate Resource

Tuesday, August 2, 2011

What Is The Demographic Shift.....In Desirable Homes ?

Demographic Shifts Are Changing What’s Considered Desirable in Homes

July 18, 2011 by Melissa Tracey · 2 Comments
Filed under: Home Trends 

By Melissa Dittmann Tracey, REALTOR Magazine

Married couples no longer hold the majority in households. In 1960, married couples made up 75 percent of total households. In 2010, that percentage has dropped to 48 percent, according to U.S. Census data.

Meanwhile, “family households”–which includes married couples with no children–has bloomed from 45.1 million in 1960 to 77.5 million in 2010. And non-family households (people living alone or households where no one is related) has soared–increasing nearly five times in the last 50 years–from 7.9 million in 1960 to 39.2 million in 2010.

“These significant demographic shifts create opportunities to design and sell homes to a growing group who cannot find what they want in the resale market because the resale market was primarily built for families,” according to a report by John Burns Real Estate Consulting.

So given the growth in non-family households, what do these potential home buyers desire? Here are some of the findings from John Burns Real Estate Consulting:

Smaller home size. Non-family households tend to want less space than a family household–opting for a home under 2,500 square feet. A recent survey also found that more than two-thirds of non-family households tend to want no more than three bedrooms in a home too.

Location is key. Non-family households want a good location near work, entertainment, and shops. In fact, they consider the location more important than the size of the home.

Nothing over-the-top. Non-family households are less likely to choose extra amenities like media rooms, community pools, and tot lots.

Research has shown a big shift in housing...big growth in non-family households. This group desires...less space and location is the most important factor. This is definitely something to consider.....when working with buyers. Knowing their lifestyle...and what is..... the most important elements and factors in choosing a home. Understanding, knowledge and communicating is key.

Posted via email from Holly Wiesner Olivieri , The Staten Island Real Estate Resource