With homes sitting on the market longer, homeowners should do everything they can to sell it quickly and at a price they expect
Emeryville, CA (PRWEB) January 7, 2008
According to a national survey of 2,000 real estate agents conducted by HomeGain, the home improvement that has the highest return on investment (ROI) is cleaning and de-cluttering.
Results showed that, on a national average, homeowners who spend a couple hundred dollars on cleaning and de-cluttering a home for sale could yield a 578 percent ROI, which may be incremental home value of $2,000. The highest ROI was reported in the West region with an 837 percent return.
HomeGain's survey identified 10 most recommended home improvements for getting a home into "home selling condition" for minimal costs and within a quick time frame.
"With homes sitting on the market longer, homeowners should do everything they can to sell it quickly and at a price they expect," stated Louis Cammarosano, General Manager at HomeGain. "Overall survey results show that spending between $5,000 and $8,000 on the 10 home improvements can increase a home's value by $20,000 or more." "This kind of information can prove to be useful to real estate agents in advising their home sellers."
In each of the four regions, East, West, South and Mid-West, surveyed real estate agents reported the top four recommended home improvements to be:
- Clean and de-clutter
- Lighten and brighten
- Professional home staging
- Landscape front and back yards
Other home improvements that may yield an average return of twice the cost included: paint interior walls; replace or shampoo carpeting; repair damaged flooring; update kitchen and bathrooms; paint exterior walls.
Visit the HomeGain Real Estate Blog to read the complete two-part article.
To determine the top 10 moderately priced home improvements for a home in a specific region, enter a ZIP code into HomeGain's free online tool, Home Sale Maximizer.
Louis Cammarosano will be a speaker at Inman News Real Estate Connect in New York on a panel titled, "Housing Outlook: Reading the Tea Leaves for 2008", on Friday, January 11, 9:45 a.m. - 10:30 a.m.
HomeGain® is a leading provider of online marketing solutions that connect real estate agents and brokers with home buyers and sellers. HomeGain offers free services to find and compare real estate agents, research home values, and view homes for sale. Real estate agents and brokers use HomeGain's real estate lead generation solutions to connect to consumers, promote their services and grow their business. With an average of over four million website visits per month year after year, HomeGain is the second most visited real estate website. A subsidiary of Classified Ventures, HomeGain has more than 300 online partnerships, including Yahoo! and USATODAY.com. HomeGain is your real estate connection.
About Classified Ventures
Classified Ventures™ is a strategic joint venture among five media companies, including Belo Corp. (NYSE:BLC), Gannett Co. Inc. (NYSE:GCI), The McClatchy Co. (NYSE:MNI), Tribune Co. (NYSE:TRB) and The Washington Post Co. (NYSE:WPO), whose objectives are to collectively capitalize on the revenue growth in the online advertising categories of automotive, real estate and rentals. To execute on its objectives, Classified Ventures has four leading businesses -- Apartments.com, Cars.com, HomeGain and Homescape.
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