Boosting Valuations When it Comes to Selling

On Thursday, Bloomberg’s online news service confirmed what we had been hearing in more general terms: “Sales of previously owned U.S. homes climbed more than forecast in May…and prices jumped, indicating more progress for residential real estate.” Agents here in Berkeley would also not have been surprised at the national surge in selling prices “by the most since October 2005”. If you were already inclined to sell your own Bay Area home, it looks more and more as if this summer will be a propitious time to jump on the opportunity. 

As Realtors gear up to maximize the market’s improvement, homeowners are also weighing some of the more popular alternatives for boosting valuations when it comes to selling — 

• Prospective homebuyers are increasingly energy savvy, so when new appliances need to be updated prior to sale, the more energy-efficient they are, the more worth highlighting they will be. Us "Green-Minded" real estate agents know how to emphasize a property’s ‘green’ attributes.  
• If you have an attic or a basement that is currently serving little purpose, conversion can pay off. Basements are often the more affordable option since they call for little structural remodeling. Conversions can be into a games room, office, or utility area. Attics are often best converted to bedrooms or office space (or at least staged to suggest the possibility
• Landscaping including features like decks can be a huge selling point. If you are prepared to engage in a little DIY, adding a deck can be among the most cost-effective of improvements. According to HGTV, the cost of a professionally built deck starts at about $15 per square foot, with more elaborate installations featuring costly hardwoods or composite materials running closer to $35.  

Even if you do not intend to sell, a little extra money invested in your home may be a dollar-wise idea. Thoughtful investments can enrich your own living experience AND attract higher prices when the time comes to move on. If you’re looking for a real estate agent call me today to go over other improvement ideas.

By Gina Odom, Realtor : 415.307.1423