Home renovation reality shows have inspired many homeowners to consider costly upgrades for their own homes. While many home improvement projects are worthwhile, it’s important to know which ones are worth it from an investment standpoint.

Here are a few key considerations to keep in mind when you’re deciding on a renovation project.

Value Added (or Subtracted) for Future Buyers
Think of your renovation project in terms of what will appeal most to potential buyers, even if you’re not considering selling anytime soon. Converting a garage into a living space or eliminating a bedroom or a closet may cause future buyers to cross your home off the list; these spaces are among the most important to potential homeowners.

Many buyers won’t even look at homes that lack the right number of bedrooms, and a garage ranks as one of the most popular amenities in newly built homes.

Project Payoff
Be cautious when undertaking large-scale renovation projects. While smaller DIY touch-ups and proper home staging can yield big dividends for sellers, large projects may not always pay off.

Remodeling magazine’s 2016 Cost vs. Value Report showed that replacement projects, like changing a front or garage door, offer serious gains.

Which large projects pack the most punch when it comes to adding value? Two-story additions, master suite upgrades and major kitchen remodels top the list.

Your Neighborhood’s Market Conditions
Consider the resale market in your neighborhood before deciding on a renovation project. This is particularly important if you’re considering large-scale projects, like a full kitchen renovation or converting an attic space into an extra bedroom.

Every neighborhood has a price threshold of what buyers are willing to pay, so a $75,000 kitchen remodel may not be worth it in a neighborhood where home values top out at $200,000.

http://www.remodeling.hw.net/cost-vs-value/2016/

Whether you’re getting ready to put your own home on the market or you simply want to take your home décor up a notch, Baer is sharing some of her secret tips with TODAY to make your house feel extra extravagant.

Pay attention to the bed

To make a bedroom that you might find at a five-star hotel, Baer first recommends choosing white linens for a clean, crisp look. Then add at least one down comforter and either a pillow top mattress or a really thick mattress pad to make the bed look plush and comfortable.

“Simple and delicious,” Baer says.

Don’t create psychological barriers

You may thing everything you have in your home is essential – but it’s not, and built-up clutter can get in the way of enjoying a room. Baer tells clients to clear out 75 percent of your stuff. Yes, 75 percent. That’s a lot, but test it out by putting the clutter in the garage, basement or an empty room for a week to see how different your home feels without it.

“If a closet is jam-packed, buyers will wonder if the space is big enough,” Baer says. “If it’s half empty, they’ll think that there’s plenty of room for their things.”

Lengthen your ceiling

Let those ceilings be their absolute tallest! To create an illusion of taller ceilings or larger windows, Baer suggests hanging curtains from as high as possible.

Layer the lighting

“Ambient lighting makes a room,” Baer says. She suggests placing floor and table lamps at different heights around the room instead of strictly using overhead lighting.

For rooms with hanging lights, such as pendants and chandeliers, Baer says to make sure the lights are high enough so that people don’t bump their heads.

Instantly tie a room together

There are a few simple touches to add to a room to make it more inviting. Some of Baer’s go-to details include:

• Placing a throw on the sofa to look inviting
• Plumping the pillows
• Opening an art book to a beautiful photograph
• Adding fresh flowers. “Whenever I put live white orchids in a room, it instantly looks fresh and inviting.”

• Don’t ignore clutter. While that stack of books or magazines on your coffee or end table may seem clean and organized to you, others may not see it the same way. Enlisting the help of a friend, family member, or even staging professional to go on a mock-tour of your home, and invite them to point out any problem areas you may have missed.

• Don’t perform any major renovations. Unless a portion of your home is literally falling apart, this is not the time to spend a ton of money on new cabinets or replacing all the appliances. Some smarter investments? Simple upgrades like fresh paint on cabinets and walls and new fixtures or hardware will go a long way.
• Speaking of paint, don’t paint with dark or overly bold colors. Stick with neutral hues to avoid turning off any potential buyers.
• Don’t cover up the windows. Let in the light and show off the views from your home by avoiding the use of heavy, dark curtains. Keep the curtains a lighter color, and pull them open during showings.
• Don’t stick around during a showing. A potential buyer will likely feel uncomfortable discussing their opinions or concerns about a home with the owner present. You will need to trust that your real estate agent will show your home in the best light possible- after all, it’s their job.
• Additionally, if you have pets, do not leave them at home during a showing either. It’s important to keep in mind that not everyone enjoys pets, and some may be allergic or even afraid of them. Bring them with you during a showing- for dogs, this would be a great time to go to the park for some fun and exercise.
• Don’t over-stage or over-decorate. Simplicity is key. It can be easy to go overboard with decorations, but do your best to scale things back so that a room doesn’t feel cluttered or overpowered with decor or furniture.
• Don’t neglect outside spaces. Curb appeal is essential for a great first impression. Make sure gardens and planters are clear of weeds, dead growth, or other debris, keep the lawn mowed, and ensure that leaves are raked up during autumn. Add some outdoor furniture to the porch or backyard, and make sure that tools, children’s toys, or other items are put away.
• Don’t let the fridge and pantry get out of hand- just like your cabinets, potential buyers will likely open them up and take a peek during a showing. Clean them out and toss any old or expired items, and make sure that the refrigerator is free of any odors.
• Don’t list your home if it isn’t ready. Complete all necessary touch-ups or repairs, and only list it once you believe your home would be ready to wow buyers on a showing that very same day.
• And lastly, don’t be afraid to ask for help. Preparing your home for sale can be a long, stressful task, and at certain points you may not know where or how to proceed. Don’t hesitate to ask for advice from friends, family, or from real estate or staging professionals.

At this point your probably asking yourself, so how much are interest rates going to increase? Well anyone’s guess is as good as mine but from reading many publishes articles about this topic the Federal reserve is looking to increase rate by 0.625% this year alone. The main driving force behind this is the signs of inflation coming into the market and that’s one thing no one benefits from. Janet Yellen, Chair of the Federal Reserve, has given some hints as to where she sees interest rates going and this latest figure seems to be the most probable according to the latest survey of the board members of the Federal Reserve. The Fed has had many meeting and the topic of rate increases has been a topic of debate and conversation at all of them.

So what’s after that? According to other articles the Federal Reserve is looking to increase its rates by another 1.625% in 2016. Is this including the 0.625 increase of 2015? No one knows for sure but what we do know is that interest rates have to climb to maintain market stability.

This brings us to the title of my post, how worried should you be if you’re in the real estate market whether you’re buying or selling? I’d say it is a source of concern. No matter what side of the coin you’re on it’s going to affect you. As a buyer you’re going to pay more for the house per the interest rate and you’re purchasing power is going to diminish. As your loan rate increases your payment increases which means you can afford less house. As a seller you’re going to see the buyer pool diminish as less people will be qualified to purchase your home. My advice to both buyers and seller is to stay ahead of any interest rate increases by the Federal Reserve of the United States and move forward swiftly and timely with your real estate purchase or sale and avoid any potential consequences of the financial market’s changes.

I hope this is helpful and that you avoid any interest rates increases and get the most of the San Diego real estate market. Need help? Let us put our knowledge and experience to work for you. Call Krista Lombardi or Victor Zuniga with Berkshire Hathaway Home Services at (619) 519-3251 or (619) 851-1078.

Mission Hills Heritage has meetings and informational meetings/events but the highlight every year is their home tour. Unlike their home walking tour in which a docent leads you on a walk throughout Mission Hills accented by dialogue about each home on the home tour participants can actually enter the homes and admire not only their outer beauty but their inner as well. You’ll be able to see and appreciate American Craftsmanship at its best with many features in most of these homes being handmade by true artisans. I’ve had the pleasure of volunteering and participating as a docent but even I are thrilled but the annual home tour and I would encourage anyone who loves historical homes to come out and take part of this once a year opportunity.

The theme for this years walk will have an emphasis on the Prairie style of homes. Prairie architecture had it’s beginnings in the Mid-West region of the United States. It flourished from the early 19th century to the early 20th century as an alternative to the clasical architecture which was mostly Greek and Roman classicism. One defining characteristic of all Prairie homes is their emphasis on horizontal lines. The most famous and notable architect that employed and influenced the growth and progression of the Prairie style was frank Lloyd Wright.

This just a glimpse into the Prairie style of architecture but if you’d like to know more and see more then I would strongly suggest you join us for the Mission Hills Heritage tour.This year the Mission Hills Heritage Annual Home Tour will take place on Saturday September the 16th. For more information visit Mission Hills Heritage’s website and we look forward to seeing all of you there.

This is mainly due to the cost of the labor of said improvements. We’ve all experienced this when we’ve had to take our car in for service. How many times have you had the experience of the part costing say $50 and your charged $150 for the labor of putting the part in? Yikes, right?

The best way to determine this is to do some research and find out which items have the best return on investment. We take a look every year to see what’s the latest and greatest in home improvements with an emphasis on getting our sellers the best value possible. After all as a seller you’d like to get the most amount for your home in the current market you’re in.

Therefore I thought it would be a great idea to save you some work and share a couple of lists and links with the results of not only what buyers are looking for and value the most in a home but also what items have the greatest return on investment for sellers. These results are from a national survey conducted by the National Association of Realtors (NAR) for the years 2014/15 where improvement

If you’d like to what buyer’s nowadays are looking for as far as improvements take a look at the results of the survey. Also, if you’re planing on doing some upgrades or a remodel take a loo at this comparison of cost vs return on any future projects you’re thinking of. Not only will this give you an idea of what your return will be but it’ll calculate by any specific area of the country. After all if you’re in the Northeast you wouldn’t put in a pool when you can’t use it half of the year due to weather.

I hope this information is helpful in planning home improvements that’ll increase your home value, make your home more appealing or at the least minimizing the risk of loosing thousands of dollars. Happy remodeling!

According to Oculus they’re proposing something called telepresence. With telepresence you could immerse yourself into any environment utilizing their headgear and software allowing you save time and travel and walk through any environment, such as a listed home, in virtual reality. Unlike the past virtual reality technology this would be in real time and with the use of a hologram of oneself being projected into the virtual space.

I’m pretty sure most of us have bought something online without physically seeing it nor going to a store. But in the case of real estate, as this article suggests, I don’t agree that people will be willing to purchase such an item simply by virtual and/or cyber shopping. A home, whether to live in or as an investment, carries such a high financial amount that the decision is more complex than say getting a new TV, pair of shoes, item for the home, or that latest Keurig coffee maker. I do agree that this could be a useful tool but a tool none the less. I can see other applications of this technology where it’s impact can be huge but said fields would probably have lower risks and consequences derived from no actual physical inspection or touch.

So I guess our questions to you out there is this, would you buy a home especially in California where the prices are so high that you never saw in real life (IRL) if you had the chance to walk through it in virtual reality/cyber space? It’s a question all of us should ponder as it appears that this isn’t just a futuristic concept but rather another innovation coming to real estate and other industries in the the not so distant future. Who knows, maybe someday you’ll be able to take a vacation without actually going anywhere. I guess Capt. Kirk had it right when he said, “Beam me up Scotty!”

First of all the majority were Chinese buyers, they accounted for $22 billion which is 24 percent of the total, apparently that number has doubled in the last year.

In regards to where they are purchasing, there are four states which made up the majority, those were: Florida (23 percent of purchases), California (14 percent), Texas (12 percent) and Arizona (6 percent).

The National Association of Realtors analyzed data on international client purchases of U.S. homes between April 2013 and March 2014. International clients were those who either had a permanent residence outside of the U.S. or were recent immigrants who had been in the U.S. less than two years.

“We live in an international marketplace; so while all real estate is local, that does not mean that all property buyers are,” said NAR President Steve Brown in a statement.

Five countries accounted for 54 percent of international sales: Canada, China, Mexico, India and the United Kingdom. While Canadian buyers continued to be the top source of international sales by transaction volume, Chinese buyers accounted for the largest sales volume by far: $22 billion compared with Canadian buyers’ $13.8 billion.

Surprisingly 2014 inventory is fairly high for San Diego real estate, with the increase in the interest rate from last year we are up roughly 3,000 homes on the market giving us a smaller buyer pool and larger inventory of homes compared with a year ago which is not ideal for sellers.

So why are the international buyers purchasing so rapidly this year?

“Foreign buyers are being enticed to U.S. real estate because of what they recognize as attractive prices, economic stability, and an incredible opportunity for investment in their future.”

Now let’s hope that our fellow countrymen can also take advantage of the rates and price tags and have an opportunity to invest in their futures.

Now, the Berkshire Hathaway name will be even more visible in San Diego County, and throughout the United States, as it will be found on real estate “for sale” signs.

As of Monday, Sept. 23, 2013, an established California real estate firm took on the prestigious company’s name. Prudential California Realty was purchased by Warren Buffett and Berkshire Hathaway.

“We’re the first ones to be able to use that brand name in the real estate world. It’s quite an honor,” said David Cabot, president and CEO of Berkshire Hathaway HomeServices California Properties. “It’s a unique opportunity.”

With its headquarters in Carmel Valley, the company has a network of 62 offices and 3,200 agents in Southern California and the Central Coast. Many of those agents have been with the company for a substantial portion of its 20-year existence under Prudential California Realty.

California Properties focuses on the luxury market in such areas as Rancho Santa Fe, Del Mar, La Jolla, Newport Beach, Beverly Hills, Palisades and Brentwood, said Cabot.

“We’re primarily a luxury real estate company in Southern California and we have been for two decades,” Cabot said.

For more info on Berkshire Hathaway listings, click here