Home Improvement Stocks are RisingBuyers are taking advantage of the low interest rates and the $8,000 tax credit that will expire in December this year. Buyers are finding great deals on new homes and properties nationwide. The Mortgage Bankers association has a listing that shows a downfall in interest rates that are currently sitting at 5.15% for 30 year loans and 4.52% for 15 year loans.
Americans are working towards updating their homes to take advantage of this years economic crisis in the real estate slump. The trick is selling their existing homes. Sellers are doing quick fixes to help ensure that they retain the value of their home and generate a quick sale.
Lowe's home improvement stock is up 1.69% and is opening new stores in Pennsylvania, New York, Louisiana, North Carolina, and California. Home Depot currently has 2,200 stores in the United States and states that their stocks are up .29 (1.07%) as of 8/25/09. Sellers are looking for the proper selling strategies and updates to seal the deal.
- Having the proper curb appeal is a must.
- Have a clean yard with updated rock or flower beds.
- Power wash the patios and Windex the windows for a clean appearance.
- Welcome mats add an inviting feel to the main entrance.
- Slap a fresh coat of paint on all doors and shutters.
- Touch up the trim around the windows with some matching paint to brighten the appearance.
- Fix leaky faucets or replace old ones to update the bathroom or kitchen.
Buyers create a mental note of all the small things that have to be fixed as they walk through. Anything that creaks or sticks is directly added to that buyers mental list.
- Remove all clutter and unnecessary or mismatching accessories.
- Find things that compliment the space. Remove bulky furniture for space.
- Smell is number one. Remove any signs or smells of pets. Empty the trash before a showing.
Dutch Boy has just released a new paint called Refresh. This new paint takes the smell out of almost any wall. Having neutral colors on the wall is best and this is a good chance to whack out both issues with one shot.
- Having everything clean is a must. No one wants to buy someone left dirt.
- Pay attention to the appearance of the floors, counter top in the kitchen and the overall appearance of the bathroom.
- Counter tops are a great investment. This is just to give an updated appearance. Quartz counter top replicates granite and is a third of the cost.
- If the cabinets are outdated a coat of paint and new knobs will really help out. The kitchen is a key point in any home. It can make or break a sale.
More contractors are bidding out jobs just to stay open and not to draw a big profit. It is more affordable to have home improvements done if the seller does not wish to do the work themselves.
- Adding a new fridge will increase value dramatically. Stainless steel gives the appearance that the other appliances are updated also. This is an investment that sellers get in return upon sell.
This may seem like a big time consuming list but when the property sells it all pays off in the end. As the weather starts to get cold buyers and sellers are less likely to make a move. If the tax credit ends in December time is running short. As America rises from its down turn interest rates will flare. Property value will sky rocket. Taking advantage now if possible can be a great investment and ensure a lower payment in the future.
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