Real Estate Articles

Real estate report: Trying to sell in April isn't foolish, survey finds | By: Jim Weiker

Spring (April, May and June) is the best overall time to sell, according to the consumer publication.

More than half (53 percent) of the agents said the kitchen is the most important room in the house for prospective buyers, followed by the bathroom (42 percent).

The easiest ways to boost the sales appeal of your home are by cleaning and decluttering, followed by sprucing up the kitchen and bathrooms with new paint or cabinet hardware.

The publication found that the biggest mistakes made by sellers are not negotiating a real-estate commission and overpricing the home.

Spending on home projects might set record in 2015

Home-improvement spending could reach record levels this year, a new report estimates.

The report, from Harvard University’s Joint Center for Housing Studies, found that spending on discretionary home improvements rose by almost $6 billion between 2011 and 2013, the first increase since 2007.

According to the study, the average homeowner spent $2,500 in 2013 on home improvements. Central Ohio homeowners spent an average of $3,120 that year on home improvements, including $2,160 in professional services and $500 in do-it-yourself projects.

The study concludes that remodeling activity will continue to rise for several reasons: Homeowners who can afford to move have instead decided to stay; federal and state incentives encourage energy-

efficient improvements; baby boomers are seeking improvements in accessibility; and owners of rental properties are reinvesting to attract tenants.

U.S. homeownership sinks to lowest point since 1994

The national home ownership rate fell to 63.9 percent at the end of 2014, the lowest level in two decades, according to the U.S. Census Bureau.

The rate, which was 64.3 percent in the previous quarter, was the lowest since the third quarter of 1994.

State ownership rates range from 53.1 percent in New York to 77.5 percent in West Virginia.

In Ohio, 66.3 percent of households own their home.

The homeownership rate has yet to recover from the housing crash. Many analysts expect the rate to rise this year.

— Jim Weiker

 

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