Small Improvements That Sell

MSN

With very little effort, you can transform an average house into an above-average property that is sure to get second looks from buyers. Follow these guidelines to make sure your property stands out above the rest:

Paint inside and out
Fresh paint is the most cost-effective and profitable improvement you can make, even if your home doesn't need a new coat. Paint the interior walls a neutral color and the ceilings white to make rooms look bigger.

New lights
Replace outdated fixtures. This inexpensive improvement can update old decor that might have discouraged buyers.

New flooring
Install new carpet, linoleum, or tile, and refurbish hardwood floors if needed. Choose a neutral color for new carpeting. New flooring will increase the market value of your home, while shabby floors can kill a sale.

Planted landscape
Attractive front and back yards boost the value of any property. Mow the lawn, trim shrubs, and plant new bedding flowers. Clean up perennial beds. Plant some trees if the yard is barren, especially in the front parkway. Sweep the patio or deck and decorate with potted plants and flowers.

Inspection

At a cost of $200-$300, it could be worth it to hire your own home inspector to give your entire home a thourough going-over before any potential buyers do. This is especially true if you have let any routine maintenance fall by the wayside for a number of years.

Completed repairs
Before listing your home for sale, make all minor repairs and catch up on maintenance. If you've deferred maintenance, get a professional home inspection. If the inspection reveals problems, make the repairs before listing the home. If you don't, the buyer will probably discount the offer price for more than the cost of repairs or replacement.

A clean garage
If you use your garage for storage, clean it out and rent a storage space. Paint the interior white. If your garage is unfinished, install wallboard or build storage shelves on the back wall. A clean garage will help solidify a buyer's impression of a home in move-in condition.

As you can see, there are many small improvements you can do yourself on a limited budget without venturing into an entire home remodeling project.

Housing Data Yield Mixed Results Overall

By The Wall Street Journal

Housing starts rose slightly in August, but a decline in construction of single-family homes after five months of increases highlighted the fragile state of the economy.

Meanwhile, in a positive sign, the pace of layoffs slowed as initial claims for jobless benefits dropped by 12,000 to 545,000 in the week ended Sept. 12.

Housing starts climbed 1.5% to a seasonally adjusted annual rate of 598,000 in August from the previous month on an increase in multifamily home construction, the Commerce Department said Thursday. But single-family homes and kitchen remodeling Grand Rapids, which accounted for about 80% of all housing starts, fell 3% to 479,000.

Many economists expect home remodeling Grand Rapids to contribute positively to gross domestic product in the second half of the year, after dragging it down last quarter. But as the housing sector continues on its rocky path to stabilization, it might not make a strong contribution. Even with recent gains, new home starts were 29.6% lower than a year earlier, and they are expected to remain at relatively low levels while the market works through the glut of foreclosed homes and builders battle a tight credit market.

On a more positive note, Precision Remodeling building permits, a sign of future construction, increased 2.7% in August to a seasonally adjusted annual rate of 579,000.

With permit requests also rising, we should continue to see improvement in housing going forward. Just don't expect any huge increases, and don't be surprised if once in a while activity eases.

Despite the fall in single-family home remodeling Quakertown starts, they are expected to trend upward, albeit at a slow pace. They are still 21.7% lower than a year earlier.

Starts of multifamily homes with sunrooms Grand Haven, five or more units, including apartments and condominiums, tend to be more volatile. They rose 35.3% in August after falling in July. The number of starts is still off 48.2% from a year earlier.

"A modest rebound from such a depressed level of activity is not too surprising," Morgan Stanley analysts wrote in a note to clients. "However, we do not expect to see any sustained upside in multifamily construction."

The labor market continued on its slow road to recovery as the four-week average of new claims for jobless benefits, which aims to smooth volatility, fell by 8,750 to 563,000, the Labor Department said Thursday.

But continuing jobless claims, those drawn by workers for more than one week, climbed to 6.23 million in the week ended Sept. 5 -- up 129,000.