The return for your remodel will definitely depend on the market in 1-2 years because of the constant change. Also your return will be contingent on how the rest of the home looks. If you only upgrade the kitchen and the rest of your home needs work or updating, then this will decrease the amount of return you will gain.There are reports that can help you with the ROI of a project for your home, but it is really up to the buyers searching for homes in your area. If they value the kitchen remodel to be worth more than the price you paid then you will find a great amount of money returned to you at the end of the sale.
A slow market is still a moving market. Even if your area isn't having as much success as other areas, there is still an opportunity to sell your home. Realtors are loaded up with houses to sell all around your property and this creates a very competitive space around you.Let your realtor handle the paperwork, sellers need to focus on the fact that their home can only become a competitive property if they develop it into one. Any realtor you choose can not make the ultimate decision to change the way your home looks. Preparing your home isn't difficult, it just takes time. Although you may not think so re-investing into your property is the best way to get your home off of the market. Find out what your neighbors are presenting buyers with and make your home the better offer.
Looking around your area is a good sign to see if there is any selling movement at all. If there is try to find what your property has in common with the ones that have sold. If there isn't much movement in the market then you need to market differently by branching out to find buyers who want to move to your area. Whether it is location or space that your home provides buyers are out there. The real estate market was to be a place where the buyers find you. Now you have to find the buyer. Research job growths in your area and pin point if there is a common migration and advertise in those places. Locally isn't enough if your not seeing to much action.Also with buyers searching online, make sure you have a property that stands out at the top of the lists for your area. With a 39,000 drop, half of that money could have went towards a project to enhance your home. That is a huge cut that will scare a buyer away. When large amounts of money is taking off it leaves an uncertainty in a buyers mind.
There are a lot of benefits to staging a home, but there are still those in disbelief. What are the advantages that are beyond the basic reasons that are commonly know.
Home owners are very reluctant to move into staging a home. Mostly because of money, and I do believe that an agent can add an extension to the contract that covers the cost in the end of the sale.
I would like to add something I believe to be important as well, Learning how to promote your own property the right way will boost your time in selling as well. So before you take the step into listing your property online make sure your ready to do so.
I want to thank all of the nice people above for replying. I wanted to create a dialog to help those home sellers or even realtors understand that there is a ton of information missing on online listings. Again thanks for your great and thoughtful input.
I completely agree Heidi, Always make sure your using more than two brokers to give you a price opinion this way you can have an understanding on how they are evaluating your property. Obviously the agent who is giving you this information is finding it tough in your area to sell. Also remember that now only just using an agent is enough, take some of the selling into your own hands as well. Make sure your property is being marketed correctly, with these proper steps your house will being able to compete for the top prices in your area and you will not have to settle for a lower cost. Take charge and it will come around, but you need to put your self at the top of the list.
Houses on the market today just don't seem to have all of the information listed with properties, and because of this it causes to many buyers to look past these properties. Giving buyers an understanding of the layout of a house is a huge advantage, but the problem is I only see this done with new construction.