Homeownership Brings Real Benefits

Provided By North American Title

In August of 2010 the National Association of Realtors released a research study highlighting some of the social benefits of homeownership. Their list included:

- Homeownership stabilizes neighborhoods.

- Homeowners are more likely to participate civically.

- Homeownership produces higher life satisfaction.

- Homeownership fosters less neighbor crime.

- Homeownership and housing stability lower teenage pregnancy and public assistance.

- Homeownership fosters quality property maintenance and improvement.

Most recently the NAR released these timely reminders:

"Good jobs enable people to achieve the American dream of home ownership. And every time a house is built, bought, or sold, jobs are created-lots of them-right here at home."

- Home sales in this country generate more than 2.5 million private-sector jobs in an average year. For every two homes sold, a job is created.

- Each home sale touches 80 different occupations.

- Every home purchased pumps up to $60,000 into the economy over time for furniture, home improvements, and related items.

- Housing accounts for more than 15% of the Gross Domestic Product, making it a key driver in our national economy.

- Housing has led this country out of six of the last eight recessions.

"America needs jobs. Housing creates jobs. That's one of the many reasons home ownership matters to people, to communities, to America."

"Strong federal government support of home ownership equals strong support for American jobs. We urge the Obama Administration and the U.S. Congress as they debate the new federal budget and reform proposals for the nation's mortgage finance system to continue federal support for home ownership."

"Jobs and Home Ownership. You can't have one without the other."

Are ready to be a homeowner? Give us a call at 972-772-7000 or email us at rockwall@kw.com.

CURB APPEAL IS KING, NAR STUDY FINDS

Provided By RECON

Nine of the top ten most cost-effective projects in terms of value recouped are exterior replacement projects, according to the National Association of Realtors 2010–11 Remodeling Cost vs. Value Report.

Among the report's findings:

The steel entry door replacement is the project that returned the most money, with an estimated 102.1 percent of cost recouped when the home is sold.

The midrange garage door replacement is expected to recoup 83.9 percent of costs.

Upscale fiber-cement siding replacement was deemed the most cost-effective among siding projects, recouping 80 percent of costs.

Upscale vinyl window replacements were expected to recoup the most among window replacement projects, at 72.6 percent.

Wood decks tied with a minor kitchen remodel for the fourth most profitable project, recouping an estimated 72.8 percent of costs.

Meanwhile, here's what the study found inside the house:

An attic bedroom addition costs more than $51,000 and recoups an estimated 72.2 percent.

A basement remodel costs more than $64,000 and recoups an estimated 70 percent.

Improvement projects that are expected to return the least are a midrange home office remodel, recouping an estimated 45.8 percent; a backup power generator, recouping 48.5 percent; and a sunroom addition, recouping 48.6 percent of costs.

In addition, the study found that Texas was among the regions that were consistently estimated to return a higher percentage of remodeling costs when a home is sold.

Are you ready to sell your home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.