Sunday April 27, 2014
The Eco Fair is a great opportunity to learn about environmental topics! There will be workshops, children activities, music and food! New this year is a “Green Auto” section. You can find out about more events happening this week at Charlottesville Earth Week. Get Involved to protect our planet!
Montpelier Wine Festival
May 3-4, 2014
This annual wine festival held on the grounds of the home of James Madison has wine tastings all day and is packed full of live music, arts and crafts, specialty food vendors even children’s entertainment and rides. Don’t forget to wear your largest, smallest, winey, beyond your basic baseball cap, spring bonnet or kids hat for the Hat Contest held each day at 3:00PM. You could win a 3 pack of wine! For a list of all the activities, tickets and a list of participating vineyards please visit the Montpelier Wine Festival website.
Despite the unusual winter, Charlottesville area real estate sales continued to stay steady and even improve in some areas. See the latest Charlottesville Area Association of Realtors’ first quarter of 2014 market report.
If you could ask thousands of Realtors about which home improvements seem to really help a seller, you’d have a great cross-section of opinions based on firsthand knowledge. Well that’s exactly what Realtor Magazine did. And their most up-to-date responses might assist you in preparing your home for the today’s market.
If you’re considering the addition of an outside wood material deck ….. good choice. That could bring you 87% of your costs when you sell (78% in our own Central VA region). But if you use a composite material for a deck, you’ll recoup about 10% less.
And if you want to upgrade to an exterior cement siding product like Hardiplank … buyers like that, and you could regain 87% of that expense when you sell as well.
And oh, that ever-important front door impression… a new steel door can be worth a 96% recoup on your improvement. Doors and windows in general are a good investment. Garage doors, window replacements… all of these yield good returns.
Of course the resale value of repairs will vary from region to region, so it’s nice to use this link to research the Cost Vs. Value of repairs in specific areas of the country. In Central Virginia results, the reports show that it pays for a seller to remodel/upgrade that bathroom, because it can bring in 110% of the cost of the project. (We like our bathrooms!)
In general anything a seller can do to increase usable floor space, enhance windows and doors, or correct “issues” that might not appeal to the tastes of the next owner (like that pink living room)… it will have some measure of payback for the sale. In upscale homes, a kitchen or a master suite or a major garage improvement should also yield a return.
The repairs that qualify more as “expense” rather than “investment” tend to include projects that are specific only to the seller’s needs…. like a different color of stove. Often the seller becomes absorbed in personal projects that increase the value for THEMSELVES but they forget that a buyer might plan to remodel the whole kitchen or switch to gas cooking …. so those changes would have no value to the next guy. Another example of that is a swimming pool, which many see as an asset and many others consider it to be a feature that needs to be eliminated. Guess this is why they make menus!