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Cool New Websites, Market Update, To Update or Not This entry was posted on 10/15/2007 10:53 AM and is filed under Wealth Building,Building Equity,Education,Market. I have three cool websites to share with you this month. First up is www.bellacor.com - which deeply discounts everything from lighting fixtures to furnishings to bedding and much more. It offers FREE SHIPPING, NO SALES TAX, and has different sales every week. This is a wonderful site offering wonderful savings. I think you will be amazed at the deals you can get there. This is also true of www.lumberliquidators.com which has deeply discounted wood and laminate
flooring. You can visit there store in Grand Rapids or order on line and pay shipping (which is delivered curbside to your home meaning you have to unload it). If you are considering new flooring for a fair amount of square footage, this can mean big savings though. With prices like $1.99sf for bamboo or $2.99 for brazilian cherry, well.. it may be worth the drive to Grand Rapids. Third up is www.pointclickhome.com which is sponsored by leading decorating magazines and offers a lot of information and tools to homeowners thinking of redecorating, remodeling, or simply wanting to lay our your furniture differently. It is a fun and informative website and worth a peek.
One reason for offering the above info is my next topic. Market conditions mandate that you are careful how you invest in your home right now. I recently came across the statistic that the average kitchen remodel right now costs $54,000+. If you live in a moderately priced home in our local market ($150,000 -$250,000) I would definitely not recommend spending $54,000+ on a kitchen update. You just won't recoup anything like that at resale. If your cabinetry is still solid and in fairly good condition, consider changing just the color, the hardware, or maybe update the door fronts. Then you can focus on counter top and appliances. Your home must stay competitive with others in your price range, so I am not telling you to not update your home. Just be careful of cost when you're doing it. The other option, and not such a bad one at this point, especially if you can not do the work yourself, is to use list price as your weapon of choice. Buyers are in a frugal mood these days and are very willing to consider a home that needs updating if the home is priced below the competition.
Speaking of the market.... here's the latest update. From 09/15/2007- 10/15/2007 there have been 165 sales in the Traverse Area MLS, 148 of which are from within the five county area encompassing Antrim (18 sales), Benzie (16 sales), Grand Traverse 67 sales), Leelanau (28 sales) and Kalkaska (19sales). The median price in the five county area was $158,000. If you factor out the Benzie and Kalkaska, the two traditionally low counties, the median price this past month was $175,000. Seventy four percent of homes sold in six months or less, per MLS. We'll keep a watch on it for you and have an update next month. |
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