Real Estate TV vs. Reality

I am a huge fan of HGTV!  Let me state that right out of the paint-chipped gate. 

However.....

Have you seen the shows using experts to renovate for tens of thousands of dollars, and post-renovation, a nice Realtor proclaims the home's value is....TADA!!!....worth waaaaay more than they just spent on the renovations?   I love those shows. The homeowners adore bright orange throw pillows with geometric splashes of purple, all contractors show up - sober even - and everyone makes money. Amen.  Hallelujah. A feel good way to be entertained.*      

Then, there's Real Estate Reality:

The National Association of Realtor's Remodeling Impact Report is in!  And it does not read like a television show.   

Interior Renovations (Return on Investment)

New Master Suite:  53%

Kitchen Upgrade: 67%......don't miss this

Complete Kitchen: 67%.....an upgrade recoups the same return as a total renovation.  

Bathroom Renovation: 58%

Add Bathroom: 52%

Basement Conversion: 69%

Attic Conversion: 61%

Insulation Upgrade: 95%

Closet Renovation: 57%

New Wood Floor: 91%

Hardwood Refinish: 100%

HVAC: 71%

Exterior Renovations (Return on Investment)

New Wood Windows: 58%

New Vinyl Windows: 80%

New Steal Door: 75%

New Fiberglass Door: 60%

New Garage Door: 87%

New Fiber Cement Siding: 79%

New Vinyl Siding: 83%

New Roof: 105%

*Ah, you noticed my small asterisk, thank you.  I wish to point out that some of HGTV's shows air from Canada.  These statistics are from the United States.  Maybe in Canada, everyone gets a 180% return on all renovations.  It could be that wonder-full, "just sayin'" 

  

Real Estate's Twenty Hottest Markets in December

According to Realtor.com, not only did the "hot" markets out-perform in home sales, they garnered 1.4 - 2.9 times more on-line views per listing.  Additionally, homes in these hot markets sold 29-51 days faster.

1. San Francisco
2. San Jose, CA
3.Vallejo, CA
4. Dallas
5. Sacramento, CA
6. San Diego
7. Denver
8. Santa Rosa, CA
9. Yuba City, CA
10. Stockton, CA
11. Los Angeles
12. Oxnard, CA
13. Nashville, TN
14. Palm Bay, FL
15. Modesto, CA
16. Detroit
17. Boulder, CA
18. Tampa, FL
19. Fort Wayne, IN
20. Midland, TX

Many of these cities repeatedly make The Hottest US Housing Markets List.  However, new to the list was Tampa, Fort Wayne and Midland.  California remains firmly in control of the hottest markets, while the rest of the country's sales cooled toward the end of 2015.

Pressing on to a wonderful and prosperous 2016!