Is There a Plus Side to the Downturn?

It may not be the best time to be selling a house in much of the country.  But increasingly, it's a good time to build or renovate one.

The housing slump has pushed down prices on everything from lumber and drywall to labor and design fees.  Legions of carpenters, tile layers and landscapers are sitting around with nothing to do.  Architects are taking on small renovation projects they once would have scoffed at, and contractors are offering their services at a discount.  Some people in the building trades are even posting fliers at construction sites to drum up business.

It's a striking contrast from the heady days of the real-estate boom, when builders and contractors could hardly keep pace with demand, prices of materials soared and a six-month wait to start a kitchen renovation was commonplace.

Not all parts of the country have been affected equally.  Builders in some areas where the job and housing markets have remained firm, report business as usual.  And many architects who specialize in high-end homes say they are as busy as ever.

But the picture is much different in other areas.  The same is true when it comes to which area has been hard hit by foreclosures and subprime-mortgage defaults.  In some areas, builders, contractors and landscapers say they're watching their backlog of work shrink to a few weeks from months, as new projects dry up.

As we've reported several times before… you need to do your homework.  Talk to us about the state of the market in our area before you decide to buy or sell.  All areas are NOT the same, and you need to be educated on just where things stand in your market to decide if buying now or renovating what you have is the smartest move at this time.

Home Fixes Everyone Should Consider

Whether you are buying a home or selling a home, there are some home fixes you should be concerned with.

One of the biggest concerns revolve around safety, not whether the walls are freshly painted or not.  You should be concerned about the critical systems of the home and whether or not they are working properly, especially in older homes.  If your home has been around for a while then why not consider upgrading the home's essential systems like plumbing or electrical?

Electrical consumption has risen drastically over the last 10 years and many older home's electrical systems don't cope well with today's energy draining appliances and technology.  Years ago most homes had 1 TV, maybe 2 and the kitchen and laundry appliances.  Today's average family has 2 or 3 TV's and at least one computer plus larger capacity washer/dryers and a host of other electrical appliances.  Many older home's systems have difficulty coping with this increased drain on power.  This can cause power systems to short and electrical fires can happen.  Upgrading these vital areas is a great selling or buying point.

The same holds true for the plumbing system but for a different reason.  The stress on this system should be relatively the same that it has always been.  However, the years of moisture and use can cause pipes to degrade and when this happens, so do leaks.  Leaky pipes can cause any number of problems in the home including water damage and mold.

A new roof is a huge selling point.  If you install a new roof with a warranty, that is a fix you should be able to bank some extra profit on.  Keep in mind the safety concerns of the average buyer, in fact these are the same concerns you should have yourself when buying your new home.

Four Easy Home Improvements

If your house needs a makeover, but remodeling is beyond your reach, try these four simple fixes:

Touch-up exteriors. Repainting the trim and front door of your house can significantly boost its curb appeal. This kind of retouching work is easy on the budget and can be done in just a couple of hours.

Replace your floors. The widespread availability of affordable "floating floors" (flooring options that can be installed on top of existing boards or linoleum) makes updating the floors in your rec room or pantry a cinch.  You'll probably save a minimum $500 to $600 dollars by doing it yourself.

Update your hardware. Switching out old light fixtures and faucets is a simple, affordable way to modernize your home. While you're at it, equip your house with fixtures that support halogen light bulbs to save money on your electricity bill.

Transform your yard. Landscaping doesn't have to break the bank.  Replacing overgrown shrubs and bushes and adding some flowers for color is an economical way to add value to your home.

Many home repairs can be easily mastered by determined do-it-yourselfers, but there are still some things best left to the experts. If you need to re-floor your entire house, contact a flooring service, and call in the electricians whenever you're dealing with circuit boards or wiring in the walls.

Home Improvements That Won't Break the Bank

If your house is in need of a makeover, but remodeling is beyond your reach, try these four simple fixes:

Touch-up exteriors

Repainting the trim and front door of your house can significantly boost its curb appeal.  This kind of retouching work is easy on the budget and can be done in just a couple of hours.

Replace your floors

The widespread availability of affordable "floating floors" (flooring options that can be installed on top of existing boards or linoleum) makes updating the floors in your rec room or pantry a cinch.

Update your hardware

Switching out old light fixtures and faucets is a simple, affordable way to modernize your home.  While you're at it, equip your house with fixtures that support halogen light bulbs to save money on your electricity bill.

Transform your yard

Landscaping doesn't have to break the bank.  Replacing overgrown shrubs and bushes and adding some flowers for color is an economical way to add value to your home.

Many home repairs can be easily mastered by determined do-it-yourselfers, but there are still some things best left to the experts.  If you need to re-floor your entire house, contact a flooring service, and call in the electricians whenever you're dealing with circuit boards or wiring in the walls.

Swimming Pools: Improve Your Real Estate Value

Summer is here and the temperatures are soaring everywhere.  During the dog days of summer, there is nothing more refreshing than taking a dip in your own in-ground pool.  An in-ground pool not only adds value to your real estate, a swimming pool provides year-round entertainment and enjoyment for your family.

Whether you are purchasing a new home with an existing pool, or are thinking of adding a pool to your current property, it pays to research the types of in-ground swimming pools and their cost, as well as the benefits and drawbacks of each.  Also, don't forget to check with your insurance company to see what adding a pool to your property will do to your homeowner's insurance.

Concrete inground swimming pools works well in virtually any climate.  While in-ground concrete pools are less expensive and easier to install in the South, where the climate is mild and the water table is low, concrete also works well in Northern climates.  Proper maintenance will ensure the longevity of your concrete swimming pool no matter where you live.

If you are considering a concrete pool for your existing home, know that the installation process can require some patience.  The process can take three to four weeks, depending on ground and weather conditions, since concrete in-ground pools must be installed in several phases.  In the southern states, installation is easier due to the ground make-up (mostly sand), and the lower water table.

Pricing your pool:

Most people are aware that a new in-ground pool can cost more than a new car, but don't forget to consider all of the benefits of pool ownership.  Installing an in-ground pool, whether in an existing or pre-construction home, instantly boosts the value of your home.  You receive a very good return on your initial investment, something that can't be said about a new car, and you get to cool off and enjoy your own pool whenever you like.

An in-ground concrete pool will also last a lot longer than a new car, and will provide far more enjoyment in the long term for your family.

Purchasing an existing or pre-construction home with a pool, or installing a new in-ground pool on your current real estate, is more economically feasible than you may think.  Many new-home builders offer buyers pre-construction packages that include a new pool.  This can be an item of negotiation when purchasing your new home, and you may be surprised at the number of perks that home builders are willing to offer their buyers these days, especially if you purchase your home during the area's off-season.