Hello 2012!

It’s January 3, 2012 and we hope you had a great New Years! In 2011 the real estate market had it’s ups and downs, but the year closed with positive housing market data!

The National Association of Realtors announced that it’s pending home sales index rose 5.9% from November 2010. This index tracks homes under contract, not the sales themselves, and has no been this high since April 2010! NAR also says that existing home sales rose 12.2% since November of last year.

Forecasts by Fiserv and the National Association of Realtors say prices will start rising in early to mid-2012. The NAR reports sales already have turned around with a dramatic 17 percent gain in the third quarter.

Lawrence Yun, NAR chief economist says "November did reasonably well in comparison with the past year. The sustained rise in contract activity suggests that closed existing-home sales, which are the important final economic impact figures, should continue to improve in the months ahead."

Also on the bright side, mortgage rates end year under 4%! All fixed mortgage rates finished the year near all-time lows, with the 30 year home loan at 3.95%. Freddie Mac says the rate for 30 year fixed mortgage has been at or below 4% for 9 consecutive weeks and only twice did it average about 5%.

2011 may have been good, but 2012 is looking to be even better!

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Top Remodels For Your Home!

On Tuesday we warned you about some home remodeling projects that weren’t a good idea if you were going to be selling your home. Today, we’re going to talk about projects to do that will pay you back the most!

The cost of remodeling has been dropping by 10 to 15 percent, so more and more homeowners are looking to improve their homes. There are certain projects you can do to your home to make it sell for more money, and we are going to share those with you!

Upscale Vinyl Replacement Windows- This has a payback of 69% on a cost around $14,328.

Midrange Kitchen Remodel- Include new laminate counter tops, sink, faucet and appliances. This is basically a face lift that costs under $20,000 and pays back 72%! This is one of the best things you can do to sell you home.

Garage Door Replacement- This might not always be high on the list, but sometimes needed. This project can pay back almost 72% of it’s cost.

Replace Exterior Siding (with upscale fiber cement)- This project costs about $13,461but has a pay back of around 78%! This is the most cost effective thing you can do to your home to sell for more money.

Replace An Entry Door- Something like a midlevel 20-gauge steel door is inexpensive pays back 73% and greatly improves curb appeal.

New Foam-backed Vinyl Siding Replacement-This keeps the house warm and pays back 69%.

More information here

So, if you're looking to make some touch-ups around the house, make sure you do these first! Does anybody have success stories from doing any of these remodeling projects?

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Extreme Home Remodels That Turn Buyers Off

It’s your house; you can do what you wish to do. But, if you think you might sell your home in the future, there are some things you might want to hold off on.

Wood Burning Fire Place- This project could set you back around $3,500. The downside is this is not all people love them. Some don’t want to be bothered by the fuss, work, and cost of wood.

Home Office- An upscale workplace can rise rapidly, even up to $20,000. While it looks great, the return rate will probably only be around 57%.

Steam Shower- In fantasy bathrooms people envision 10 shower heads, towel warmers, and a waterproof TV, but the truth is this upgrades, such as a steam shower, doesn’t pay off. It might add some appeal, but not all people are willing to pay more for a house just for a fancy shower.

Home Theater- A swanky home theater could cost upwards of $9,000 if you include special speakers, lighting and nice seating. Unfortunately, the payback is only about 50%.

Expensive sports court- Although some people are really into basketball, adding it to your backyard is costly and will only have a payback of less than 10%, if anything.

More Information here

Come back Thursday to read about home remodels that pay back the most!

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Robert Kiejdan's New Construction in The Parkway is FINISHED!!

Take a look at these gorgeous updated pictures of Robert Kiejdan's latest design in the parkway section of Margate!

Highlights include

LARGE FRONT PORCH	HUGE DECK
HARDWOOD FLOORS	CROWN MOLDINGS
2 MASTER SUITES
ENERGY EFFICIENT FEATURES
MEDIA ROOM

More information here

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Totally Renovated Rancher In The Parkway Section!

This week we have a great new listing in the Parkway Section of Margate!

This terrific Margate beach getaway was gutted to the studs, renovated & remodeled top to bottom. 3 BR 2 BA ranch home featuring an open floor plan, eat-in kitchen w/granite counter tops, master BR suite w/full BA, gorgeous new HW floors & new EVERYTHING: Tankless hot water heater, HVAC, plumbing, electric, windows, roof! Outside features a huge covered front porch, rear deck, E.P. Henry paver patio, enclosed shower, a large fenced yard & 3 car parking. Walking distance to the beach in the Parkway section.

More Information Here

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How to Winterize Your Vacation Home!

Recently MSN had a great article on how to “button” up your vacation home for winter. Since we live at the Jersey Shore, a prime vacation destination, we thought we would share these great tips with you!

First off, what you need to do depends on where your home is. The colder the climate, the more work you have to do. Here is what the experts say:

*Turn Off Your Water Supply- Even if you decide to leave the heat on, turn off the water coming into the house. If you lose power and it gets cold and the pipes freeze, when it gets worm there will be water everywhere!

*Drain The Pipes- After you’ve shut off the water, drain the pipes in the house so there’s no water inside of them that can freeze.

*Change Your Water Heater Settings- Many water heaters have a “vacation setting” marked on the dial. This will conserve energy and also keep the water from freezing.

*To Heat or Not To Heat- It is advised to never shut your heat completely off when winterizing your home. Turn your heat to the lowest setting, but keep it going.

*Power Down- If you want to leave some electricity one, just throw certain breakers into the “off” position. Or, go around an unplug all the electrical items you can.

*Keep Interior Doors Open- This will help the air circulate while all the exterior doors and windows are closed.

Here are a few quick tips for the outside too:

*Prune your trees

*Install a chimney cap

*Care for sprinklers

*Secure your dock

We hope this helps you and your home get through the cold winter!!

More information here

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2 More Great Condo Listings This Week!

Ventnor

This totally renovated South Side 2 BR, 2 BA condo is just steps to the beach. The interior highlights include a great room with connecting sun room, eat-in kitchen featuring granite counters, SS appliances, and a balcony off the living room. Besides the large second bath and second BR, there is a large master BR suite and private washer and dryer. Pets are allowed and storage is abundant with NO CONDO FEE AT ALL!!! Great investment opportunity, summer getaway or year-round home!!!

More information and pictures here

Margate

Tradition & luxury combined in this distinctive 4 BR 3.5 BA Victorian style townhouse just 1.5 blocks to the beach. The home spans 3 levels & is filled w/exquisite finishes & high-quality craftsmanship including a state-of-the-art kitchen, hardwood floors, a 1st floor BR & full BA, a sun-drenched great room, & a luxurious master suite w/private deck. Other highlights include serene courtyard, 2 car garage, low condo fee & pet friendly. Located walking distance to the best restaurants & shopping in Margate.

More information and pictures here

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