Remodeling Benefits Owners Who Sell or Stay

WASHINGTON (December 9, 2015) — Homeowners preparing to sell often make improvements, both big and small, to their homes that can help yield positive results and garner top dollar from buyers. According to a new report from the National Association of Realtors®, remodeling projects can also bring major benefits to homeowners who choose to remain in their homes.

“Realtors® know that certain home upgrades and remodels can be beneficial to get more buyer eyes on a property, potentially bring in more offers or gain more equity from a home,” said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. “But remodeling projects are just as valuable to homeowners who simply want to get more joy out of their dwellings. Regardless of the situation, Realtors® know what remodeling projects bring the biggest bang for the buck and what projects are most likely to improve a homeowner’s impression of their current place.”

According to NAR’s 2015 Remodeling Impact Report, which uncovers the reasons homeowners choose a remodel and the increased happiness certain projects bring once completed, 64 percent have experienced increased enjoyment in their home after completing a remodeling project. Additionally, 75 percent of respondents said they felt a major sense of accomplishment when thinking of their completed project. Fifty-four percent of respondents felt happy about the changes to their home, and 40 percent felt satisfied. As for their reasons to complete a remodeling project, 38 percent of homeowners said they wanted to upgrade worn-out surfaces, finishes and materials; 17 percent wanted to add features and improve livability; and 13 percent believed it was time for a change.

Realtors® named kitchen upgrades, complete kitchen renovations, bathroom renovations and new wood flooring as the interior projects that most appeal to potential buyers. Similarly, Realtors® also ranked projects based on expected value at resale (without accounting for project price); the projects that ranked the highest in this category were complete kitchen renovations, kitchen upgrades, bathroom renovations and the addition of a bathroom.

When looking at the interior projects that yield the biggest financial results upon resale, Realtors® ranked hardwood flooring refinishes (100 percent of project cost recovered upon resale), insulation upgrades (95 percent recovered), new wood flooring (91 percent recovered), and converting a basement to a living area (69 percent recovered) as projects to consider.

Exterior projects are also important for both sellers and homeowners looking to increase satisfaction with their current home. Realtors® said new roofing, new vinyl windows, new garage doors and new vinyl siding are most appealing to potential buyers and are highly valued upon resale (both considering project price and disregarding project price). Upon resale, Realtors® said new roofing would recover 105 percent of its project cost, a new garage door would recover 87 percent, new vinyl siding would recover 83 percent, and new vinyl windows would bring back 80 percent of their cost. As for exterior projects that bring the most happiness for those not necessarily intending to sell, homeowners said new fiber-cement siding, new fiberglass or steel front doors, new roofing, and new garage doors brought the most satisfaction.

The 2015 Remodeling Impact Report, the first of its kind from NAR that examines personal satisfaction from remodeling projects, surveyed Realtors®, consumers who have completed their own remodeling projects, and members of the National Association of the Remodeling Industry.

“Remodeling projects can greatly improve both the value of and satisfaction with one’s home, which are great things no matter the reason for a project,” said Judy Mozen, president of the National Association of the Remodeling Industry. “This report highlights the best projects to consider in either situation and showcases just how much of a difference a good and professional remodel can make in real numbers.”

Salomone said the report not only assists homeowners who are preparing to sell in choosing the best projects to attract buyers, but it also helps those looking to get more personal satisfaction out of their homes. “Realtors® know that remodeling projects aren’t just done to get more money for a home once it’s time to sell – a home is your sanctuary, the place you raise your family and where you make lifelong memories, which is why the report can also help consumers decide which projects could enhance their current quality of life and happiness,” he said.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

The National Association of the Remodeling Industry is the medium for business development, a platform for advocacy and the principal source for industry intelligence. NARI connects homeowners with its professional members and provides tips and tricks so that the consumer has a positive remodeling experience.

Washington St. Alexandria, in 1920

Washington St .Alexandria Va

 

Homeowners Reap Remodeling Benefits Whether Selling or Staying, Say Realtors®

WASHINGTON (December 9, 2015) — Homeowners preparing to sell often make improvements, both big and small, to their homes that can help yield positive results and garner top dollar from buyers. According to a new report from the National Association of Realtors®, remodeling projects can also bring major benefits to homeowners who choose to remain in their homes.

“Realtors® know that certain home upgrades and remodels can be beneficial to get more buyer eyes on a property, potentially bring in more offers or gain more equity from a home,” said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. “But remodeling projects are just as valuable to homeowners who simply want to get more joy out of their dwellings. Regardless of the situation, Realtors® know what remodeling projects bring the biggest bang for the buck and what projects are most likely to improve a homeowner’s impression of their current place.”

According to NAR’s 2015 Remodeling Impact Report, which uncovers the reasons homeowners choose a remodel and the increased happiness certain projects bring once completed, 64 percent have experienced increased enjoyment in their home after completing a remodeling project. Additionally, 75 percent of respondents said they felt a major sense of accomplishment when thinking of their completed project. Fifty-four percent of respondents felt happy about the changes to their home, and 40 percent felt satisfied. As for their reasons to complete a remodeling project, 38 percent of homeowners said they wanted to upgrade worn-out surfaces, finishes and materials; 17 percent wanted to add features and improve livability; and 13 percent believed it was time for a change.

Realtors® named kitchen upgrades, complete kitchen renovations, bathroom renovations and new wood flooring as the interior projects that most appeal to potential buyers. Similarly, Realtors® also ranked projects based on expected value at resale (without accounting for project price); the projects that ranked the highest in this category were complete kitchen renovations, kitchen upgrades, bathroom renovations and the addition of a bathroom.

When looking at the interior projects that yield the biggest financial results upon resale, Realtors® ranked hardwood flooring refinishes (100 percent of project cost recovered upon resale), insulation upgrades (95 percent recovered), new wood flooring (91 percent recovered), and converting a basement to a living area (69 percent recovered) as projects to consider.

Exterior projects are also important for both sellers and homeowners looking to increase satisfaction with their current home. Realtors® said new roofing, new vinyl windows, new garage doors and new vinyl siding are most appealing to potential buyers and are highly valued upon resale (both considering project price and disregarding project price). Upon resale, Realtors® said new roofing would recover 105 percent of its project cost, a new garage door would recover 87 percent, new vinyl siding would recover 83 percent, and new vinyl windows would bring back 80 percent of their cost. As for exterior projects that bring the most happiness for those not necessarily intending to sell, homeowners said new fiber-cement siding, new fiberglass or steel front doors, new roofing, and new garage doors brought the most satisfaction.

The 2015 Remodeling Impact Report, the first of its kind from NAR that examines personal satisfaction from remodeling projects, surveyed Realtors®, consumers who have completed their own remodeling projects, and members of the National Association of the Remodeling Industry.

“Remodeling projects can greatly improve both the value of and satisfaction with one’s home, which are great things no matter the reason for a project,” said Judy Mozen, president of the National Association of the Remodeling Industry. “This report highlights the best projects to consider in either situation and showcases just how much of a difference a good and professional remodel can make in real numbers.”

Salomone said the report not only assists homeowners who are preparing to sell in choosing the best projects to attract buyers, but it also helps those looking to get more personal satisfaction out of their homes. “Realtors® know that remodeling projects aren’t just done to get more money for a home once it’s time to sell – a home is your sanctuary, the place you raise your family and where you make lifelong memories, which is why the report can also help consumers decide which projects could enhance their current quality of life and happiness,” he said.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

The National Association of the Remodeling Industry is the medium for business development, a platform for advocacy and the principal source for industry intelligence. NARI connects homeowners with its professional members and provides tips and tricks so that the consumer has a positive remodeling experience.

 

Living In Bucknell

Bucknell Manor is a subdivision in Alexandria located in Fairfax County. Housing is primarily cape code style homes and a portion is also duplexes. Belle View Shopping Center is roughly 1 mile away to the east. Beacon hill mall is also about a mile away to the west.

Mount Vernon RECreation Center borders the neighborhood as well as Martha Washington Library. Mount Vernon District Park is on the outskirts of this subdivision. Biking paths are convenient and provide a great avenue for exercise.

The Huntington Metro is only a few short bus stops away. Bucknell sits parallel to the George Washington Parkway. Commuting to DC and other parts of Alexandria is easy and convenient.

 

Why is Montebello a good deal?

Montebello is a well kept gated community. The condo fee is on average around 400.00 monthly for one bedroom. One bedroom condos are currently listed between 199k to 250k. These units are spacious and range from 850sqft to 1050sqft.

Montebello offers a wide range of amenities. The community center boosts a game room, indoor/outdoor pool, tennis courts and gazebo's featuring barbecue pits. Routine shuttle service is provided to Huntington metro. Huntington metro is also walking distance thru a gated path.

Many of these properties offer wonderful views of the Potomac River and National Harbor. Most units also provide enclosed balconies. Parking is ample with attached garages and a large lot surrounding the units.

If you want to stay within walking distance to metro in a larger condo, Montebello is the best deal in town!

 

Montebello Condominiums in Alexandria 22303

Featured Properties For Sale at Montebello

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5 Reasons to Move to The Eclipse

Eclipse at Center Park

  1. These condo's are walking distance to Potomac Yards Shopping Center.
  2. The building features a on site 24 hour Harris Teeter grocery store.
  3. Shuttle service is provided to the condo association to Crystal City Metro and is only 1 mile away.
  4. LA fitness and the Mount Vernon Bike trail are adjacent to these condos. The building also offers a on-site gym to residents.
  5. Built in 2006, these condos are modern and luxurious.
Nesbitt Realty can help you buy and sell real estate in Eclipse.

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4 Ways to Winterize Your Home

  • Installing storm doors and windows can increase energy efficiency by up to 45%. Sealing drafts and reducing air flow will save money on heat needed thru out your home. Storm windows can make a huge difference when cold drafts come in.
  • Insulating your pipes will save money on the energy needed to heat your hot water. This can also reduce the chances of pipes freezing and causing a big headache. Most hardware stores sell pre-slit pipe foam and is easy to install.
  • Replacing your filters will increase efficiency of your furnace. Typically filters are replaced every 3 to 4 months, but I recommend in the winter to replace every 4-6 weeks. 5-15% on your heating bill can be saved with clean filters and will ad up to a considerable amount over time.
  • Cleaning your gutters is vital when snow and hail come into town. Ice and snow will pool on your roof and in your gutters if not cleaned prior to winter, . Pooling snow and ice can cause potential water damage to the roof. Heating your home will cost more if your roof is covered in snow and ice.
A Christmas tree shines in the night in Old Town Alexandria
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Pros & Cons of Staging

Pros

  • Staging provides buyers with a visual of what it would be like to live in a property.
  • When you make your property look neat, attractive, spacious and well maintained, you set it apart from the exact same type of home that is vacant.
  • The properties features will be highlighted and attract buyers more.
  • 80% of buyers will first start their search online. The first property photos will be the first impression on if it is worth visiting. A well staged property will be more photogenic.

Cons

  • The cost of staging will be time, effort and money.
  • Living in a staged home will mean you need to essentially need to keep the property look picture perfect. This maybe challenging over time.
  • Depending on your home, staging may not be necessary. A fairly small town home or condo is likely going to sell for the same price with or with out staging. Staging a larger property are often well worth the investment.

What’s a good condo to buy for less than $300k?

Midtown Alexandria currently has properties listed for under 300k. These condos are walking distance to Huntington Metro and have a a array of modern amenities. The ground level showcases a well kept cyber cafe offering free wi-fi and a quite space to work/study.

The fitness center has a number of treadmills, elliptical machines,  and free weights. A gym membership is not needed if you live here! The outdoor pool is directly outside, perfect for the fitness enthusiast. The party room is spacious and can be rented for a small fee. Pool tables, a bar and big screen tv make this a great place to hang out with friends.

For under 300k, these condos are tough to beat.

Midtown Alexandria
Midtown Alexandria Cyber Cafe
Midtown Alexandria’s Party Room
Midtown Alexandria’s Fitness Room
Midtown Alexandria Pool

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4 Personal Benefits of Volunteering

I recently started volunteering as a coach for Fort Hunt Youth Basketball and I believe volunteering has some great benefits.

  • Friendship- When people get together, relationships are formed. After coaching a few practices, it’s not uncommon for volunteers to exchange phone numbers or social media information. By giving just a small amount of time, lifetime bonds may be established.
  • Community- Building with your community gives a sense of pride. Whether you are volunteering at your local recreation center or at your local food kitchen, this will save money. Saving money saves resources and funds can now go toward other local improvements.
  • Personal Growth- Experiencing new things and environments will lead to personal growth. Skills you may not have known you had will become more apparent.
  • Health- Volunteering will naturally make you a more active person. Research has found that volunteering has amazing health benefits. While thinking of others, one can battle depression and social confinement.