The National Association of Realtors has said that that exterior remodeling projects return the most money as a percentage of cost for the second year in a row! As outlined in the 2008 Remodeling Cost vs. Value Report.

This means that it is now the time for you sellers finish those projects around the house! The highest returns were seen on wood decking in the yard and all siding works where more than 80% of the cost was recouped in the value added to the home.

2008’s Cost Vs. Value report really is of importance to buyers and sellers in this market. With the National Association of Realtors being a trusted source in Real Estate throughout the country and the world, this years report compares the construction costs with resale values for 30 remodeling projects comprising additions, remodels and replacements in 79 markets across the United States.

With a great selection of homes on the market a property really has to out stand to buyers and homes with outstanding projects will not sell nearly as fast or even at the price listed!

Interestingly, all types of window replacements returned more than 76 percent of costs,which is excellent new. A major midrange kitchen remodel returned 76.0 percent of project costs and bathroom remodels returned around 74.4 percent, which is slightly lower than previous years.

Of course the value returned on a project also depends on your homes overall appearance. So sellers, make sure to tidy up, clean and declutter and even consider staging your home!

If you are interested in purchasing a property in Malibu, Pacific Palisades or the surrounding southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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