The housing market today is made up of two types of sellers: those who must sell and those who would like to sell. In many cases, those who must sell are having difficulty dealing with the devaluation of their home. Taking on costly improvement projects may not gain any additional value to their property.

If, however, you’re not in a hurry to make a move, perhaps investing in a few home improvements may not only provide added value down the road, but also lift your aesthetic spirits while you wait out the housing “storm.”

There are several issues to keep in mind when planning home improvements. Certainly high on many homeowners’ lists is cost. Big-ticket improvements may be desired, but not fiscally prudent at this time. With the uncertainty of the economy, you may wish to implement a few upgrades that are more in line with “sprucing up” your home.

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Most people think of their real estate agent as a one-time advisor. They assume a real estate agent can only help them with the pre-care of their real estate purchase. Once the sale is consummated, that’s pretty much the end of their relationship with their real estate agent. It doesn’t have to be this way.

Choosing a good real estate agent is the difference between real estate urgent care and routine real estate aftercare. (more…)

Do you have debt you need to pay off because of home improvements? Do you need cash to pay for home repairs or house bills? There is an online practice called person-to-person lending or social lending, in which you can seek funding from individuals online and bypass the banks.

Approval from your online peers in a social lending network can help pay the mortgage.

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When you put your house on the real estate market, your real estate agent might advise you to first paint it. Before you go out and buy the paint or brush a stroke on your walls, read on for the top four considerations in color psychology.

In the article, "Using Color Psychology to Sell Your Home", Jeanette Joy Fisher gives real estate sellers the top four considerations in selecting their paint colors:

1. The Exterior--Muted shades with tints of gray or brown are attractive to high-end, luxury home buyers. Shades of yellow or tan with blue, green or white trim are great colors for lower-priced houses.
2. The Interior–Home buyers prefer color to white walls. Entryways, living rooms and family rooms look great in muted versions of the exterior color of the house. Kitchens shine in natural shades of browns, greens and yellows. Master bedrooms can be painted in colors that elicit intimacy, such as medium shades of blue, green or red. 
3. The Season–Choose cool colors such as blues and grays for winter. Paint in warm colors during the summer season, such as yellows and maroons.
4. The Intensity–The hue for the color that you choose is important. Pale, sunny yellow exteriors sell the fastest. Exteriors in a green-yellow hue or orange hue are a turn-off to home buyers.

Make sure to get recommendations from your local real estate agent when choosing a paint color for the interior and exterior of your house. Ask your real estate agent what colors would help to sell your house quickly and if there are any trends you should be aware of.

You also might want to consult a professional home stager or interior designer. Some real estate agents are home stagers or have an interior designer on their team, so make sure you ask for a recommendation first before you try to find someone on your own.

Posted by Rebecca D. Levinson

For investors who will be rehabbing their properties, Michael Cook’s post, "How to Avoid A Rehab Nightmare", gives four tips on this subject.

1.  Research

Cooke’s post does not reference any resources. A good place to start would be your local library.  Amazon.com is another great resource to narrow your selection and to find great recommendations from other homeowners on the subject. 
A third is the Creative Real Estate Online website.  You can find articles on the subject of rehabbing a home.  You can also pose questions in the forum section of this website and get feedback to your questions about rehabbing a home.

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The three best investments for home improvement are updating the kitchen, updating the master bathroom, and landscaping your property. 

The return on your home improvement efforts vary based on the specific upgrades that are made. According to Kendra Todd’s article, "The five home improvements that give sellers the best bang for the buck" (Winner of Donald Trump’s The Apprentice 3), there are several upgrades in which a Seller can make a sound investment. A few ideas to improve your home’s value are:

Kitchen

• New countertops and cabinets.
• Upgrading your sink.
• Laying new flooring.

Master Bathroom

• Retiling of the shower and tub.
• Replacing the shower curtain with a glass enclosure
• Replacing linoleum for ceramic tile.
• Upgrading the sink fixtures and light fixtures.

Landscaping

• Tile or brick your walkways.                      
• Planting new sod.
• Upgrade your lighting.

I spoke with one of our Connect2Agent members in San Francisco, Garrett Goldman of Home San Francisco about the best home improvements for a homeowner.  Goldman agreed that the master bathroom, kitchen, and property landscaping were areas where your money would be well spent.  He emphasized landscaping, stating it as "the most cost effective improvement where a homeowner could expect a sizable return on investment". 

Not all buyers like five-foot guilded peacock statuaries

Garrett emphasized that you need to be careful about making home improvements if you plan on staying in your home for less than five years.  Your upgrades should be more universally suited than making choices of personal taste.

Garrett said that a very popular upgrade for homeowners are high-end commercial appliances in the kitchen.  Buyers receive these items as adding immediate value to the home in the San Francisco residential real estate market.  This would be an upgrade that would suit the needs of a homeowner who is listing or one who is just remodeling.

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