This Month in Real Estate September 2013 is out!
Home sales activity rose to a pace of 5.4 million from the 5.1 million we saw in This Month in Real Estate August 2013.
The median home price remained at $214,000. This is up 13.7% from the same point last year.
The average interest rate jumped up AGAIN, this time to 4.58% from 4.37% last month.
The Top Story discusses which updates sellers make to houses before putting them up for sale.
Jay Papasan states that the top three updates sellers make prior to listing their house are:
1) Fresh Paint
2) New Floors
3) Updated Light Fixtures
Jay notes that all improvements are not equal, and that some updates may not get the same amount out of them as the owner puts into them. He is speaking more of updates and upgrades that you may do while still living in your home.
You have to decide which updates are for YOU to enjoy as the homeowner, versus those that you are looking to do to improve the value of your home to others. There can be a big difference. As Jay points out, materials, fixtures, and choices made can affect your bottom line later. (Think of clothing styles. A pattern that is popular again today, like fluorescent colors, may not be popular again for another 20-30 years!)
He recommends speaking with a real estate agent to help understand what improvements may be better for your home.
Contact me if you may be considering selling a home in Towson or surrounding areas. I would be so pleased to help!