Tag Archives: home values

Curb Appeal: Is it worth the investment?

Here’s an article specifically talking about the value of curb appeal, from a dollars and cents perspective.  It even breaks it down to what trees and fencing are worth. Most landscaping (as with any home project) should be done for your own enjoyment, but it does add to the value of your home, either in the form of a faster sale or in the form of a higher sales price when you decide to sell.   Some experts believe that mature landscaping can add up to 25% to the value of your home.  If you have been thinking of sprucing up your exterior- have a look at this link!  It may give you some good ideas of where to invest your money.
http://www.houselogic.com/home-advice/landscaping-gardening/landscaping-home-value/

 

 

 

Denver’s Top 5 “Biggest Bang for the Buck” Home Improvement Projects!

Many sellers ask me what they can do to improve the value of their homes at resale.  Every year, Remodeling Magazine and Realtor Magazine cooperate to research the costs and value-added of numerous home improvement projects in a wide range of costs.  The research is conducted at the national, regional, and even the city/local level.  This year, the information was compiled in the Remodeling 2014 Cost vs. Value Report (www.costvsvalue.com).

What I am going to summarize here is the information specifically for the Denver metro area.  The average cost and the average amount recouped for each project can vary greatly depending on the area of the country that you are in.   If you live outside the Denver area, you should go to www.costvsvalue.com to search for the information for your specific area of interest.

Although, for copyright reasons, I cannot list all of the projects here in this blog post, I can say that my overall observation of all the projects is that, with a few exceptions, most projects with “upscale” finishes do not recoup as much of their cost as projects done with mid-range finishes.  So, my advice for sellers would be that you should view any luxury finishes as a “value-added” or “personal enjoyment” factor for yourself while you are living in the home.  You most likely will not get back what you spent when it comes time to sell.  While you should recoup a higher actual dollar amount for a high-end project versus a mid-range project, it may not be as high a return when stated as a percentage of the cost of the project.

The Five Projects in Denver that have the highest amount of cost recouped are:

Project Cost Resale Value Percentage of Cost Recouped
Upscale Siding replacement (fiber-cement) $13,250 $13,560 102.3%
Mid-range Attic Bedroom Remodel $48,664 $46,253 95.0%
Mid-range 2-story Addition $153,017 $136,713 89.3%
Upscale Garage Door Replacement $2,793 $2,479 88.8%
Upscale Siding Replacement (foam-backed vinyl) $14,028 $12,358 88.1%

 

 

My thoughts, looking at these top 5 projects for Denver, are that the type of work that recoups the most money can be categorized as upscale projects that improve curb appeal and/or midrange projects that add additional living space. Something to keep in mind, is that the report is based on AVERAGE costs and values for each project.  Your costs and values may be different depending on how well you shop and the neighborhood you are in.  If you wish to recoup as much as possible for your improvements, my advice would be:

  1. do the improvements that are valued by the buyers in your area,
  2. only improve to the level of expectation of buyers for your neighborhood (don’t over-improve),
  3. shop carefully to reduce the cost of the improvements made.

SOURCES:   1. ©2014 Hanley Wood, LLC.  Complete data from the Remodeling 2014 Cost Vs. Value Report can be downloaded free at www.costvsvalue.com. 2. National Association of Realtors (http://www.realtor.org/news-releases/2014/01/realtors-rate-exterior-replacement-projects-among-most-valuable-home-improvements. 3.  Photo copyrighted by Microsoft.

Additional information that may be of interest can be found at these sites:

http://www.houselogic.com/photos/home-improvement/best-home-improvement/slide/steel-entry-door/

http://www.houselogic.com/home-topics/features-of-an-ideal-kitchen

If you would like a free consultation about the current value of your home, or suggestions for improving the marketability and resale value of your home, please feel free to contact Joan, by either calling 720-201-3049 or submitting the form below.

3 Offers in 2 days!

Status: Under Contract, Taking Backups!
PRICE: $244,900
MLS: #2849347, #737063

3 BEDROOM, 3 BATHROOMS, 2-CAR OVERSIZED GARAGE, 2132 SFT

Beautiful tri-level home with a great floor plan! Large covered deck overlooking the fenced backyard with mature landscape, dog kennel and sprinkler system for plenty of green grass! Stay comfortable with AC and Evaporative cooling in the warm summer days to come! Neutral colors inside with newly refinished hardwood floors, new kitchen counters, fresh paint throughout, and new carpet on lower level. Kitchen appliances included! Low maintenance metal siding, newer water heater and windows. Clean and Move-in ready! Short Walk to Schools, Croke Reservoir, Northwest Open Space, RTD, and nearby Shopping! Just a quick hop to I-25 for a fast commute to Downtown Denver! Quick Possession possible!

Click Below for Photo Slide Show:

 

 
Please call (720-201-3049) or email with any questions about this home or about the current real estate market!

New Listing- 921 Stage Coach Ave in Lochbuie

3 Bedroom, 2 1/2 Bathroom

1694 Sqft, Two-Story house built in 2010!

Light, Bright and Beautiful 2-story home built in 2010!  Backs to PANORAMIC mountain views!  No neighbors behind!  Large backyard enclosed by 6-ft privacy fence!  9-ft ceilings with recessed lighting, built-in surround sound! Ideal location– in quiet cul-de-sac, low traffic street! Laminate flooring throughout the main level. Open floor plan! Master bedroom with 5-pc bath & walk-in closet!  Appliances included– all stainless steel in kitchen! Tall kitchen cabinets!  Guest bathroom on main level!  Energy Efficient Home!  Clean, like new, & move in ready!  Only 35 minutes to downtown Denver! Quick closing possible– Normal sale!  Move in by Christmas!

CLICK ON PHOTO BELOW TO SEE SLIDESHOW OF ADDITIONAL PHOTOS!

Front view, 921 Stagecoach Ave

For more information or to request a showing- Please contact Joan @ 720-201-3049 or submit the request form below.

June 2013: Denver Metro Real Estate Stats

There were almost 12% more homes for sale in June 2013 than the previous month of May. Perhaps this is in response to the shortage of homes for sale compared to last year (number of home available this June was 16% less than June of 2012). But even with more inventory this month, we are still seeing homes “flying off the market” compared to last year (the number of days on market is about 43 days- which is 40% less time than last year in June). And good news for sellers- the average sold price of a home in the Denver Metro Area is still on the rise. The average sold price of homes sold in June was $349,339 for Residential Dwellings (Detached & Townhomes)- that’s up 7.66% over this time last year! For Condos- the average sold price in June was $198,040- an increase of 9.07% over last June!

 

Source: Denver Metrolist, 06/01/2013-06/30/2013.

June 2013: Sales in The Ranch & Ranch Reserve

Attached Dwelling Listings

Type Price Status SqFt Style Beds Address Office
ATD $233,000 S 2178 2 Story 3 2367 RANCH Dr CBR54
 

Total Number of Attached Dwelling   Listings: 1

Residential-Detached Listings

Type Price Status SqFt Style Beds Address Office  
RES      $320,000 S 3542 2 Story 4 11240 QUIVAS Loop BC001  
RES      $325,000 S 5312 1 Story/Ranch 4 11482 Quivas Way MBD2X  
RES      $765,000 S 5807 2 Story 5 2877 W 115TH Cir REM12  
 

Total Number of   Residential-Detached Listings: 3

 

Total Listings Reported (All Types): 4

 

Source:  IRES data 06/01/13- 06/30/13.  Properties above were listed or sold by the real estate brokerage offices shown.  Information is deemed reliable but not guaranteed.

May 2013: Sales in The Ranch & Ranch Reserve

Attached Dwelling Listings

  Type Price Status SqFt Style Beds   Address Office
  ATD $90,000 S 856 1 Story/Ranch 2   2978 W 119TH Ave MBGOL
  ATD $150,700 S 1275 1 Story/Ranch 2   2927 W 119th Ave 102 0RWST
  ATD $171,000 S 2031 1 Story/Ranch 2   11585 DECATUR St D 1HOME
  ATD $177,000 S 1396 1 Story/Ranch 2   2883 W 119th Ave 204 0153B
  ATD $213,000 S 2178 2 Story 2   2229 RANCH Dr CC123
  ATD $228,000 S 2178 2 Story 3   2285 RANCH Dr MBN61

Total Number of Attached Dwelling Listings: 6

Residential-Detached Listings

  Type Price Status SqFt Style Beds   Address Office
  RES $320,000 S 3616 Tri-Level 4   11224 QUIVAS Loop MBN17
  RES $332,000 S 2757 Tri-Level 4   2336 W 118TH Ave M1558
  RES $356,250 S 3670 2 Story 6   2657 W 118TH Ave KWR30
  RES $445,000 S 5520 2 Story 5   11420 QUIVAS Way MBN41
  RES $690,000 S 4529 1 Story/Ranch 5   2184 W 116TH Ave M1842

Total Number of Residential-Detached Listings: 5

 

Total Listings Reported (All Types): 11

Source:  IRES data 05/01/13- 05/31/13.  Properties above were listed or sold by the real estate brokerage offices shown.  Information is deemed reliable but not guaranteed.