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Are you looking for an experienced agent to help you buy or sell a home? Contact Jim the Realtor!

Jim Klinge
Cell/Text: (858) 997-3801
klingerealty@gmail.com
701 Palomar Airport Road, Suite 300
Carlsbad, CA 92011


Category Archive: ‘Remodel Projects’

Quick Kitchen Updates

Sellers need to do more updating and improving to get their home sold these days, but you don’t want to go crazy. Here are a few quick ideas from Bob Vila:

10 Kitchen Updates You Can Do in a Day

You don’t have to live with your ugly cabinets one minute longer!

There are plenty of ways to give them a quick refresh without having to purchase replacements. Make a large-scale change by painting your units a bright color, or go for a mix-and-match effect by applying a few coats only to the top cabinets. Consider removing a door or two to create trendy open shelving, or use chalkboard paint on the doors or expanses of wall for a dose of cottage charm.

Link to Full Article

Posted by on Aug 17, 2018 in Jim's Take on the Market, Remodel Projects, Repairs/Improvements, Thinking of Selling?, Tips, Advice & Links | 0 comments

White-Boxing

Homes in original condition would benefit, but you can’t finance these:

Home shoppers usually want to see a property at its best. This means that sellers truck in staged furniture, slap on fresh paint, and repair potential problems for buyers.

“When you walk into a beautifully designed and furnished unit, people can much more easily place themselves in this atmosphere,” says Jade Mills, a real estate agent at Coldwell Banker in Beverly Hills.

However, there’s an entirely different alternative that home sellers are trying. It’s called “white-boxing”. Home sellers—especially those in luxury markets with high-end properties that are in great locations—are ripping out everything in a home before showing the property.

As counterproductive as this may sound, white-boxing lets prospective home buyers start from scratch. It allows them to focus on potential and maybe even the views outside the residence, rather than what’s inside the home, which may not suit their tastes.

“White-boxing” is the exact opposite of staging a home to enhance its appeal. Instead of using furniture and accessories to sell the space, it presents a blank canvas, without the aesthetic choices in place, and allows the buyer to dream up layouts and floor design.

White-boxing is most relevant in luxury markets like New York City and Los Angeles, where breathtaking views and a desirable location are common selling points of a house, Mills says.

“As recently as a few years ago, it would be relatively rare for a seller to go to market with unfinished luxury space, but now, there’s increasing recognition that ‘designer-ready’ is exceedingly more attractive than ‘move-in ready’ to the ultrawealthy,” Josh Greer of Hilton & Hyland told CNBC.

https://www.realtor.com/advice/buy/white-boxing-real-estate/

Posted by on Aug 4, 2018 in Jim's Take on the Market, Listing Agent Practices, Remodel Projects | 6 comments

Remodeling Cost vs. Value

There has to be a lot of guesswork on these, so tread carefully.  If you want the specific survey for San Diego, it can be found at Remodeling Magazine – they have declared it as too special to be re-produced on the internet.  I’ll give an example – an upscale master suite addition would cost $285,000, but only return $150,000.  Hat tip to JA for sending this in!

CNBC article

As home prices and mortgage rates rise, more and more homeowners are choosing to stay put and remodel.

Yet, depending on the project, some of the returns are diminishing. Remodeling spending is expected to approach $340 billion in 2018, a 7.5 percent increase over last year, according to Harvard’s Joint Center for Housing Studies.

“Steady gains in the broader economy, and in home sales and prices, are supporting growing demand for home improvements,” said Chris Herbert, managing director of the Joint Center for Housing Studies. “We expect the remodeling market will also get a boost this year from ongoing restoration efforts in many areas of the country impacted by last year’s record-setting natural disasters.”

More homeowners may be remodeling, but those who do high-end projects are seeing less value in those remodels — that is, the expensive upgrades and additions are paying back less in the resale value of homes, according to an annual cost versus value report from Remodeling magazine.

“It’s not clear if this is a sign of nervousness among real estate pros in the face of a booming housing market or if nationwide affordability concerns are leading pros to question the value of renovations that would make a house even more expensive at resale – particularly with the new tax law regarding the deductibility of mortgage interest and state, local and property taxes,” Craig Webb, editor in chief of Remodeling, wrote in a release.

Read More

Posted by on Jan 26, 2018 in Jim's Take on the Market, Remodel Projects, Tips, Advice & Links | 2 comments