Is the Housing Market BACK?

Is the Housing Market Back? Ask Lowes & Home Depot!

 A recent Bloomberg Business article reports that both Lowes & Home Depot experienced fourth quarter profits that beat revenue projections by the most in six quarters. So what does that mean to the housing market?

Consumer Confidence

Lowe’s Chief Executive Officer Robert Niblock said,

“Consumers are feeling better about their jobs, their wages and certainly feeling better about the value of their home, they are re-engaging in projects that they have put off.”

Sales to professional contractors have increased significantly as well, and were a driving factor in the quarter. Home Depot’s Chief Financial Officer Carol Tome calls this a “sign of health. If they are putting more items in their basket, it means they have work coming at them.”

Home Values Rising

In a quarterly consumer survey conducted by Lowe’s since 2007, the percentage of respondents who said that the value of their home is rising increased to its highest value ever, at 50%. Whether Americans are finally adding that man-cave they’ve always wanted, or renovating a master suite, an increased confidence in the value of one’s home often sparks homeowners to invest in big-ticket projects. The National Association of Realtors (NAR) reports that the median price of an existing home (for all housing types) rose year-over-year for the 35^th consecutive month. Not all who are renovating are planning on staying in their home. The Demand Institute reports that “nearly half of American households plan to move at some point in the future.” For those who are planning on listing their home this spring, spending the time and money needed to update that 1950’s bathroom or kitchen can fetch higher prices in today’s market.

Bottom Line

Meeting with a local real estate professional can give you insight into the small (or big) improvements your home could use to draw the highest price and return on investment this spring.

First Time Homebuyers...

Recently we’ve seen sales go up, foreclosures and mortgage rates go down and lending standards begin to ease, yet something is still not right in the real estate market. Despite these recent improvements, a new study has found that first time buyers’ market share has dropped to a 30 year low, leaving many to wonder what needs to change before the market can return to full swing.

According to an annual homebuyer survey from the National Association of Realtors (NAR), the number of first-time homebuyers has continued to drop this year – now reaching its lowest point in over three decades. As reported by the study, first-time homebuyers combined for a total of 33% of the market share this year, down 5% from the previous year and 7% lower than the average dating back to 1981.

What’s holding these buyers back? According to the survey, over half the respondents stated that the mortgage process – both the application and approval – was more difficult than they had anticipated.

Many would-be buyers are also turned away due to sticker shock. Following the all-cash investor fueled run-ups of last year, home prices have remained higher than many buyers can afford. Rents continue to rise as well, and while some believe this will help convert renters into buyers, for some this will prolong saving the necessary funds for a down payment.

For some though, the choice to rent is simply that – a choice. Renting has become a choice rather than a necessity, providing the flexibility that many renters desire. On top of this, renting no longer carries the same stigma is once did, making it a more appealing choice for both first-time buyers and returning ones.

What do you think is holding back first-time buyers? What needs to change to get them back on the market?

New Construction Homes-Competition?

For the last several years, home sellers had to compete with huge inventories of distressed properties (foreclosures and short sales). The great news is that the supply of these properties is falling like a rock in the vast majority of housing markets. Many homeowners are now thinking of selling as the impact of this substantially discounted competition has disappeared.

However, every seller of an existing residential property must realize that there is a new form of competition about to hit the market: newly constructed homes.

As the economy improves, builders will again be bringing their housing developments to the market. Trulia recently reported that the purchaser, given a choice, actually prefers new construction. Here are two charts showing the results of the Trulia survey:

Bottom Line

If you are thinking of selling, perhaps you should do it now to avoid the additional competition that will come to the market later this year.

Interest Rates Compared to Home Prices

Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates are below 4% with 20% down and a 740 FICO score.

Don't get priced out of your 'Dream Home'... pay attention to interest rates, they have a direct impact on your purchasing power.  See the diagram below.  When interest rates are higher, you can have about the same house payment as a home that is $40,000 more with a point less in interest rates.

Remember as interest rates go lower, home prices usually will increase and as rates rise home values will normally diminish. 

Don't hesitate to contact me directly if you have any questions, 661-702-4767.

Five Demands To Make On Your Real Estate Agent

As a real estate agent, here are 5 demands you should make on the real estate agent you choose to represent you in the sale of your home

Are you thinking of selling your house? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge just like a great doctor or great accountant.

You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one.

Here are the top 5 demands to make of your Real Estate Agent when selling your house:

1. Tell the truth about the price

Too many agents just take the listing at any price and then try to the ‘work the seller’ for a price correction later. Demand that the agent prove to you that they have a belief in the price they are suggesting. Make them show you their plan to sell the house at that price – TWICE! Every house in today’s market must be sold two times – first to a buyer and then to the bank.

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The second sale may be more difficult than the first. The residential appraisal process has gotten tougher. A recent survey showed that there was a challenge with the appraisal on 24% of all residential real estate transactions. It has become more difficult to get the banks to agree on the contract price. A red flag should be raised if your agent is not discussing this with you at the time of the listing.

2. Understand the timetable with which your family is dealing

You will be moving your family to a new home. Whether the move revolves around the start of a new school year or the start of a new job, you will be trying to put the move to a plan.

This can be very emotionally draining. Demand from your agent an appreciation for the timetables you are setting. You agent cannot pick the exact date of your move, but they should exert any influence they can, to make it work.

3. Remove as many of the challenges as possible

It is imperative that your agent knows how to handle the challenges that will arise. An agent’s ability to negotiate is critical in this market.

Remember: If you have an agent who was weak negotiating with you on the parts of the listing contract that were most important to them and their family  (commission, length, etc.), don’t expect them to turn into Super hero when they are negotiating for you and your family with your buyer.

4. Help with the relocation

If you haven’t yet picked your new home, make sure the agent is capable and willing to help you. The coordination of the move is crucial. You don’t want to be without a roof over your head the night of the closing. Likewise, you don’t want to end up paying two housing expenses (whether it is rent or mortgage). You should, in most cases, be able to close on your current home and immediately move into your new residence.

5. Get the house SOLD!

There is a reason you are putting yourself and your family through the process of moving.

You are moving on with your life in some way. The reason is important or you wouldn't be dealing with the headaches and challenges that come along with selling. Do not allow your agent to forget these motivations. Constantly remind them that selling the house is why you hired them. Make sure that they don’t worry about your feelings more than they worry about your family. If they discover something needs to be done to attain your goal (i.e. price correction, repair, removing clutter), insist they have the courage to inform you.

Good agents know how to deliver good news. Great agents know how to deliver tough news. In today’s market, YOU NEED A GREAT AGENT! If you are interested in selling call me today so we can discuss you being represented by a great agent-ME!

Whats On Your October Home Maintenance To Do List?

The weekend is here and with the air turning crisp, leaves falling and farmer’s markets overflowing with squash, gourds, apples and potatoes, October is a time to celebrate the harvest — and button up the home and garden for the winter ahead. From raking leaves to sharpening knives, see which of these 13 to-dos make your list this month.

 

1. Rake leaves. Clearing away leaves from lawns is hard work, so be sure to choose a rake that feels good to you. Plastic rakes don’t last as long, but they are lightweight — which helps if you get fatigued easily (or have a lot of leaves to contend with). Instead of bagging all of the leaves you collect, try chopping some with your mower and using them as mulch in flower beds, or add them to a compost pile.

2. Clean gutters and downspouts. Schedule rain-gutter cleaning for after most of the leaves have fallen. Inspect gutters and downspouts for cracks and loose parts, and make repairs as needed.

3. Put up storm windows and doors. If you use storm windows or doors and haven’t put them up yet, now is the time.

4. Decorate outdoor spaces. Fall flowers, pumpkins and gourds are versatile enough to work throughout the season. If you enjoy decorating for Halloween, get out that frightful decor.

5. Shut off exterior faucets and store hoses for winter. Disconnect, drain and roll hoses before storing them indoors for the winter. Shut off the water supply to exterior faucets to prevent frozen pipes.

David Sharff Architect, P.C.

6. Sharpen knives. The holidays are around the corner — be sure your knives are ready to take on all of that cooking by having them professionally sharpened now.

7. Launder and iron holiday linens. Get ahead of the holiday crunch and prep your linens — roll up the freshly laundered and ironed linens on old wrapping paper tubes to prevent wrinkles.

Bardes Interiors

8. Decorate with layers of warmth. Get toasty indoors with cozy throws, thicker curtains and soft rugs. If you haven’t done so yet, swap out your bedding for thicker blankets and fluffy duvets.

9. Check safety devices. Test all smoke and carbon monoxide detectors in the house, and replace batteries as needed. Check the expiration date on the kitchen fire extinguisher and replace it if needed.

10. Swap seasonal clothes. Depending on where you live, September can be a fickle month — but now that October has arrived, it’s time to settle into more predictable fall weather. Gather up stray sandals and lightweight clothing that you don’t plan to wear again until spring, and pack it away. Also look over your fall and winter clothes, and note anything you will need to replace this year.

11. Start an art wall for all of those school projects. Corral those stacks of paper coming home from school with a dedicated space for display. A large bulletin board or magnet board makes hanging art and papers easy. Or you could try art wire with bulldog clips, or simply tape art to the wall with colorful masking tape.

12. Start planning or making holiday gifts. I know it seems like the holidays are still a long way off, but that’s exactly why it’s smart to start thinking about gifts now. Especially if you have hopes of making anything by hand! At the very least, start a gift list that you can add to as you think up ideas.

Whitten Architects

13. Savor your favorite fall traditions. Is there a local harvest festival you’d love to attend, a favorite pumpkin patch or apple orchard to visit? Mark some dates on your calendar so you don’t miss out.

Tell Me: What’s on your to-do list for October?

Reasons Foreclosures Aren't Always The Best Deal

I always have clients that come to me and say I want to buy a foreclosure.  I ask why? They proceed to tell me because they are good deals!  Home foreclosures occurred in healthy real estate markets in the past, but became far more prevalent after the housing market crashed in 2007. Foreclosed properties are bank-owned homes, also referred to as real estate owned (REO) properties. Banks can foreclose on a property after 90 days of mortgage nonpayment. Homeowners default for many reasons, including loss of their jobs, unrelated financial stress or intentional nonpayment to escape severely underwater mortgages.

Regardless of why homeowners default on their mortgages, banks repossess foreclosed homes and resell properties to recuperate their losses. 

I always have clients that come to me and say I want to buy a foreclosure.  I ask why? They proceed to tell me because they are good deals! 

Read below maybe this will change your mind on why a foreclosure isn't always the 'best deal"

1. Competitive Sales

Everybody always thinks that a banks aim is to offload REO-related property taxes and liabilities as soon as possible. They  think they price properties to sell.  Do you know I just received a price on a home from a bank this week $50,000 over the last comp!  This home is not competitively priced what so ever.  Most banks are now pricing their homes competive with or above current comps.  Banks seek all-cash offers or offers from pre-approved buyers with trustworthy credit and sizable down payments. Most first-time buyers cannot compete with investors who swiftly identify quality REO homes, move quickly making enticing offers and close without financing procedures.

Additionally, if experienced real estate professionals don’t make offers on an REO property, first-time buyers are wise to avoid it, too. Investors often look for homes to flip, and even buyers shopping for fixer-uppers should carefully heed the warning of disinterested experts.

2. As-Is Condition

When you visit an REO property, they don’t have the luxury of visualizing their lifestyles in nicely-staged environments. Foreclosed homes often sit vacant on the market for a period of time before they’re even put on the market. Buyers must stay open minded to see the potential in each property. Consider too that vacant properties sometimes don’t have electricity to power lights for walk-throughs.

Further, buyers of foreclosed homes do not receive property disclosures. Since banks are unfamiliar with the history of properties, buyers accept the risk of purchasing homes with unforeseen damages. It’s unlikely that previous homeowners who couldn’t afford their mortgages were prioritizing property maintenance, leaving repairs for future owners. Buyers should hire thorough home inspectors to survey properties before making offers.

Unlike other for-sale listings, buyers cannot negotiate with sellers (banks) to make upgrades to properties before closing. Banks intentionally price properties low accounting for buyer upgrades. Buyers of foreclosures must prepare to purchase homes in as-is condition.

3. Long-Term Vacancy and Vandalism

In addition to the aforementioned vacancy concerns, some REO properties remain vacant for extended periods of time. Pipes freeze in the winter when homes aren’t heated, bursting and causing costly water damages. Rodents and even homeless transients take refuge in abandoned properties. Before making offers, buyers need to evaluate the health concerns and total costs of repairs to create livable conditions in REO homes.

Banks sometimes permit short sales when borrowers are underwater on their mortgages. Short sales occur when banks accept the resale of a property for lesser value than borrowers currently owe. Short sales are sometimes more cost-effective for banks than allowing 90 days of nonpayment followed by property marketing resale. In many cases, banks do not permit short sales resulting in disgruntled homeowners.

Upset, angry or financially stressed homeowners facing foreclosure often strip properties of removable, valuable features and even intentionally vandalize properties as retaliation. Buyers should account for the costs of replacing appliances and fixtures including dishwashers, sinks, toilets and light fixtures. A foreclosure property may not be worth the inexpensive price tag if countless big-ticket items are missing.

In all, buyers have numerous factors to consider when shopping for homes; one of the major influencers is price. REO properties may meet that objective at first glance, but the challenges of competing for a quality home, the risk of unforeseen damages, the health concerns of unkempt properties and potential costs of stripped appliances may dilute the bargain.

WHAT IS A F-I-C-O SCORE?

What is a FICO Score?

In 1958, Bill Fair and Earl Isaac, a mathematician and engineer, formed a company in San Rafael, California. They created tools to help risk managers make a better decision when taking financial risk. Today, 90 percent of all lenders use the FICO score, first created in 1989 by Fair Isaac, and it’s the only score Fannie Mae and Freddie Mac, the Federal Housing Agency and Veterans Affairs will accept in underwriting loans they guarantee.

Reason #7 Buyers May Dislike A Home

Some home buyers have a love-hate relationships with the properties they see. They either fall madly in love with a place, finding no faults, or are totally disgusted, even outraged that I would dare show them something so terrible. 

Sometimes, underlying a buyer’s rejection reaction are their own irrational expectations or other psychological quirks. But other times, there are hidden issues that can cause a gut reaction of hate toward a particular home.

Here is reason #7 a buyer may dislike your home:

7.The wants and needs of hidden stakeholders.

Have you ever watched House Hunters International? I crack up every single time a family moving from Minnetonka to Dubai decides not to buy a given home because it lacks room for their friends and family when they come to visit. “How often do they think people are going to make that trip after all?! And can’t they grab a hotel room when they do?” I have heard they are really nice there! I always wonder (often aloud, to the puzzlement of my dog).

While this particular example is comical (and possibly scripted for TV), the reality is that many real-life buyers consider the wants and needs of people their agents will never meet as they decided whether to love or hate a particular home. For instance, over the years I've had multiple buyer clients refuse homes with stairs to enter because of aging parents who might only get to the place once or twice a year. I've also seen buyers make decisions about homes they intend to live in for a very long time on the basis of children that don’t yet exist, roommates and tenants they might never have, dogs that they are going to get 'someday', and expected age-related mobility concerns for their future selves, decades down the line.

In the end, it is very important that buyers agent help buyers to see past the issues we have been talking about for the last week.  Maybe these issues aren't really all that important.

Reason #5 A Buyer May Dislike A Home

Some home buyers have a love-hate relationships with the properties they see. They either fall madly in love with a place, finding no faults, or are totally disgusted, even outraged that I would dare show them something so terrible. 

Sometimes, underlying a buyer’s rejection reaction are their own irrational expectations or other psychological quirks. But other times, there are hidden issues that can cause a gut reaction of hate toward a particular home.

Here is reason #5

5. Furniture foibles.

Is it irrational to make a decision about buying (or not buying) a particular property around your furniture? Probably so. Do people do it every single day?

Absolutely.

Buyers who have a house full of furnishings of a particular style or scale might recall the time and money they invested obtaining it and decide to hold out for a property that has a harmonious look, feel or scale. As well, many a buyer has hemmed and hawed about a house because their great-aunt’s/Grandma’s/Mom’s inherited dining room table would never fit.

Crazy, right?

Reason #4 A Buyer May Dislike A Home

Some home buyers have a love-hate relationships with the properties they see. They either fall madly in love with a place, finding no faults, or are totally disgusted, even outraged that I would dare show them something so terrible. 

Sometimes, underlying a buyer’s rejection reaction are their own irrational expectations or other psychological quirks. But other times, there are hidden issues that can cause a gut reaction of hate toward a particular home.

Here are a few I’ve seen time and time again:

 4. Childhood beliefs.

Where I grew up, corner lots were generally the premium lots of a subdivision. But in some areas, especially ones with many cars, apparently there was a time when there a series of serious accidents occurred, with cars ending up inside homes in part because the lots were positioned in a particular way vis-a-vis traffic flows and stop signs.

I have had numerous clients over the years mention this, and specify that they are completely uninterested in living on a corner, for this precise reason. Other buyers I have prefer corner lots for the privacy and the lack of surrounding neighbors. Each has there own opinion.

Reason #3 A Buyer May Dislike A Home

Some home buyers have a love-hate relationships with the properties they see. They either fall madly in love with a place, finding no faults, or are totally disgusted, even outraged that I would dare show them something so terrible. 

Sometimes, underlying a buyer’s rejection reaction are their own irrational expectations or other psychological quirks. But other times, there are hidden issues that can cause a gut reaction of hate toward a particular home.

Here is the 3rd reason I have seen buyers dislike homes:

3. Failure to Optimize.

“That’s a shame.” “What a waste.” “Too bad they did that.” “Why would they tear that down/choose that finish/put that in?!” 

Buyers hate little more than to move into a home and spend their precious remaining dollars ripping out nearly new upgrades—especially when they feel like they paid a premium for the home having been remodeled in the first place.

Well, there’s at least one thing they hate more: a home that they came to see because of its perfect location or mid-century modern/Victorian/Craftsman architecture that’s been built or remodeled in a way that totally eliminates the advantages of the features they came to see it for. A home with a gorgeous view with few windows (trust me, they exist) is one case in point. Another is the Craftsman bungalow that has been all modernized inside, built-ins removed and natural wood ripped out.

Reason #2 Buyers May Dislike A Home

Some home buyers have a love-hate relationships with the properties they see. They either fall madly in love with a place, finding no faults, or are totally disgusted, even outraged that I would dare show them something so terrible. 

Sometimes, underlying a buyer’s rejection reaction are their own irrational expectations or other psychological quirks. But other times, there are hidden issues that can cause a gut reaction of hate toward a particular home.

Here is reason #2 I have seen buyers dislike homes.

2. Rumors.

Rumors around town about coming building, development and zoning changes to an area can make a home less desirable to buyers than you would expect it to be. Schools and commercial growth which might impact neighborhood parking, re-routed freeways and incoming subway and light rail lines are all items which get broadcast to the public years before they happen—and years before the plans are complete, sometimes rendering properties in the proposed path of development or re-zoning less desirable even though they don’t end up impacted by the final plans.

Additionally, rumors that a home is haunted or was the site of a crime have a history of putting the kibosh on buyer interest in a place. It’s not at all bizarre in some necks of the woods for an agent to offer a feng shui session, smudging or blessing as part of the closing bonuses for a property with a troubled past—or rumors of one.

Reason #1 Why A Buyer May Not Like A Home

Some home buyers have a love-hate relationships with the properties they see. They either fall madly in love with a place, finding no faults, or are totally disgusted, even outraged that I would dare show them something so terrible. 

Sometimes, underlying a buyer’s rejection reaction are their own irrational expectations or other psychological quirks. But other times, there are hidden issues that can cause a gut reaction of hate toward a particular home.

Here is reason #1 I have seen buyers find fault in homes.

1. Strange neighbor behavior.

I wish I could count the number of times I’ve witnessed buyers be turned all the way off from an otherwise likable property because of tomfoolery (or worse) on the part of the neighbors. While cars on the lawn is the age-old example, there are many more frequent instances of strange neighbor behavior that arise and disgust buyers on the regular. I've shown homes where:

• the back deck had panoramic views of the entire valley—and the rear neighbor’s pit bull breeding kennels
• the next-door neighbor’s tree roots threatened to upend the fence or cause plumbing issues
• the neighbor’s junk yard or poorly patched roof were the primary view from many of the property’s windows
• the home shared a foundation, wall or roof with a next door neighbor, the shared element was in need of expensive repair, and the neighbor refused to pitch in.

Scary incidents during property viewings with neighbors’ pets, “customers” (I’ll say no more) or unfriendly neighbors themselves are also common sources of buyer antipathy to properties which listing agents might never even hear about.

Top 6 Remodeling Projects To Improve Your Home

ou may be dreaming of a new in-ground swimming pool or stainless-steel kitchen with granite counters, but will these investments give you the right ROI when it’s time to sell? Below are some of the top home improvements that, according to Remodeling magazine, will also improve your chances of getting the most for your home at the closing table. 

First Impressions. A new steel front door speaks volumes about home security and energy efficiency. You can choose from a wide price range and many colors. Not ready to replace? Paint the existing front door and repair any cracks or marring of the casing to up your curb appeal. 96.6% ROI. [A fiberglass front door will net you about 70.8% ROI.] 

Take It to the Top. Turning an attic into an additional bedroom is a popular trend and a great investment. Maximize your living space without a major adjustment to your home’s structure. This also gives you the opportunity to beef up your insulation and improve your home’s energy efficiency – a hugely desirable feature for Millennial buyers. 84.3% ROI. 

Get Decked Out. A wooden deck addition to your home brings an 87.4% ROI, according to Remodeling magazine. Choosing a composite instead still nets you about 74.3% return. Outdoor entertaining is on the upswing, and an open deck in general costs far less than an enclosed addition. 

Go Low. As with an attic remodel, redoing a basement improves the value of your home without altering its footprint. Refinish the room and add a wet bar and bathroom for maximum enjoyment and return on your investment. 77.6% ROI. 

Consider the Ups and Downs. How many people think about replacing their garage door when they’re making home improvements? Apparently more of us should. It’s another bump to your curb appeal, and you have a vast array of choices, from uninsulated steel to insulated panels with windows. Your choice may depend on whether your garage is only for storing cars or if you have a workshop or laundry facilities there too. 83.7% ROI. 

Cook Up Some Change. Of course, an updated kitchen is always one of the best investments you can make when it comes to home improvements. We’re talking a minor remodel, here: new cabinet fronts and hardware, new midpriced sink and faucet, and if you’re really in the mood, replacing the stove with a more energy-efficient model. A major upgrade probably isn’t worth it: a minor remodel brings in about an 82.7% ROI, while spending over $50,000 on a major upgrade will probably only net you 74.2% ROI. 

How To Keep Your House Cool This Summer WITHOUT Running the Air!

Knowing what appeals to today’s homebuyers, and considering those trends when you remodel, can pay off years from now when you sell your home.

Two new surveys about what homebuyers want have me feeling pretty smug about my own home choices. Maybe you'll feel the same.

Privacy from neighbors remains at the top of the most-wanted list (important to 86% of buyers), according to the NATIONAL ASSOCIATION OF REALTORS’® "2013 Community Preference Survey." Privacy is no doubt the best feature of my mid-century ranch home, since I can only see one neighbor’s house and it’s a couple hundred feet down my driveway.

It may not be practical to move your neighbors farther away (although I’m sure many people wish they had that superpower), but you can increase your home’s privacy (and therefore its resale value) by planting a living privacy screen of trees and shrubs or by physically screening off your patio.

3 More Takeaways for the Next Time You Remodel

1. More and more generations are living together. Another NAR survey, the "2013 Profile of Home Buyers and Sellers," found 14% of buyers purchased a home suited to a multigenerational household due to children over the age of 18 moving back into the house, cost savings, and the health and caretaking of aging parents.

I did that back when my parents were still alive, and it worked out great for everyone. I didn’t have time to let my infant daughter nap on my shoulder all afternoon, but my mom did. She couldn’t drive to church meetings at night, but I could take her. And neither of us liked cleaning the gutters, but my husband didn’t mind that chore.

Even if you’d rather live in a cardboard box than with your mother, you might want to consider the multigenerational living trend when you’re remodeling. For instance, opting for a full bath when finishing the basement could offer more convenience for you now and boost your home’s resale value by making it more appealing to a multigenerational family.

2.  On average, homeowners live in their home for nine years. That’s up from six years in 2007. Since you’ll be in your home for a long time, it makes sense to remodel to suit your taste but also with long-lasting marketability in mind. After all, you don’t want to have to redo stuff. For instance, you can go for trend-defying kitchen features, like white overtones and Shaker-style cabinets, which work with a variety of styles.

I feel compelled to caution against going so far out of the norm for your neighborhood that it’ll turn off potential buyers even nine years from now. (It never hurts to get your REALTOR®’s opinion on your remodeling plans.)

3.  Homebuyers love energy efficiency. Heating and cooling costs were "somewhat" or "very important" to a whopping 85% of buyers. If your home could use an energy-efficiency upgrade, go with projects that have a solid return on investment, like sealing your air leaks and adding attic insulation. You’ll save money on your utility bills now and when you’re ready to sell, your home will appeal to buyers looking for efficiency.

By the way, to take back your energy bills, you need to do at least four things. One to two fixes won’t cut it, thanks to rising energy costs.

About two-thirds of survey respondents also thought energy-efficient appliances and energy-efficient lighting were important. Tuck away your manuals and energy-efficiency information when you buy new appliances and lighting. When you’re ready to sell (in nine years) you can pull those out and display them where buyers will see them.

If You Sold Today, Do You Have The Kind Of Home Buyers Are Looking For?

Knowing what appeals to today’s homebuyers, and considering those trends when you remodel, can pay off years from now when you sell your home.

Two new surveys about what homebuyers want have me feeling pretty smug about my own home choices. Maybe you'll feel the same.

Privacy from neighbors remains at the top of the most-wanted list (important to 86% of buyers), according to the NATIONAL ASSOCIATION OF REALTORS’® "2013 Community Preference Survey." Privacy is no doubt the best feature of my mid-century ranch home, since I can only see one neighbor’s house and it’s a couple hundred feet down my driveway.

It may not be practical to move your neighbors farther away (although I’m sure many people wish they had that superpower), but you can increase your home’s privacy (and therefore its resale value) by planting a living privacy screen of trees and shrubs or by physically screening off your patio.

3 More Takeaways for the Next Time You Remodel

1. More and more generations are living together. Another NAR survey, the "2013 Profile of Home Buyers and Sellers," found 14% of buyers purchased a home suited to a multi-generational household due to children over the age of 18 moving back into the house, cost savings, and the health and care taking of aging parents.

Even if you’d rather live in a cardboard box than with your mother, you might want to consider the multigenerational living trend when you’re remodeling. For instance, opting for a full bath when finishing the basement could offer more convenience for you now and boost your home’s resale value by making it more appealing to a multi-generational family.

2.  On average, homeowners live in their home for nine years. That’s up from six years in 2007. Since you’ll be in your home for a long time, it makes sense to remodel to suit your taste but also with long-lasting marketability in mind. After all, you don’t want to have to redo stuff. For instance, you can go for trend-defying kitchen features, like white overtones and Shaker-style cabinets, which work with a variety of styles.

I feel compelled to caution against going so far out of the norm for your neighborhood that it’ll turn off potential buyers even nine years from now. (It never hurts to get your REALTOR®’s opinion on your remodeling plans.)

3.  Homebuyers love energy efficiency. Heating and cooling costs were "somewhat" or "very important" to a whopping 85% of buyers. If your home could use an energy-efficiency upgrade, go with projects that have a solid return on investment, like sealing your air leaks and adding attic insulation. You’ll save money on your utility bills now and when you’re ready to sell, your home will appeal to buyers looking for efficiency.

By the way, to take back your energy bills, you need to do at least four things. One to two fixes won’t cut it, thanks to rising energy costs.

About two-thirds of survey respondents also thought energy-efficient appliances and energy-efficient lighting were important. Tuck away your manuals and energy-efficiency information when you buy new appliances and lighting. When you’re ready to sell (in nine years) you can pull those out and display them where buyers will see them.