Realtor Magazine Article Home Improvements Cost vs Value

This article was published on: 12/01/20062006 Cost vs. Value Making Home Improvements Pay What’s the return for remodeling? Remodeling magazine’s annual report compares construction costs with resale values for 25 common remodeling projects in 60 U.S. markets.Prices for most remodeling projects continue to climb, while the recoup value of improvements at resale is declining to levels last seen in 2002. These are the findings of Remodeling magazine’s 19th annual Cost vs. Value Report — the eighth prepared in cooperation with REALTOR® Magazine. None of this should come as much of a surprise to you: This year’s recoup values confirm the housing slowdown many parts of the country are experiencing. With both home-sale and remodeling activity at record levels in the last five to six years, some cooling is inevitable. Indications are that the current downturn represents a return to “normal” levels. A number of improvements designed to make the report more reliable and useful has also affected both cost and value data. For starters, Remodeling took a fresh look at the specs for the 25 projects it studies each year. (REALTOR® Magazine, in the past, has limited the number of projects it included in its coverage.) The cost-to-construct figures (which include labor, material, subcontractors, and gross profit) are higher than in previous years, but also more accurate. (Read full project descriptions at www.remodelingmagazine.com.) The estimates of resale value are also more accurate than ever before (see “Survey confidence is high,” below), thanks to the more than 2,000 members of the NATIONAL ASSOCATION OF REALTORS® who completed Remodeling’s e-mail survey this past summer. In addition, the report introduces nine regional averages, following the divisions established by the U.S. Census Bureau. This breakdown provides higher confidence levels than could be achieved with the four larger U.S. regions measured in previous years. What the numbers meanWhen comparing cost estimates for actual projects, remember that averaging tends to have a leveling effect on “Job Cost” data. And, seemingly small differences in size, scope, or quality of finishes can dramatically affect the final project cost. Remember, too, that, even in neighborhoods in the same city, local conditions can affect both the cost and value of a remodeling project, making our numbers appear too high or too low. In an actual real estate transaction, the “cost recouped” for a given remodeling project depends on a variety of factors. These include the condition of the rest of the house, the value of similar homes nearby, and the rate at which property values are changing in the surrounding area. A home’s urban, suburban, or rural setting also affects its value, as does the availability and cost of new and existing homes in the immediate vicinity .

Nancy@NancyMAlexander.com
www.StoneHarborRealtor.com

Stone Harbor Single Family Homes Sold since September 2007

Multiple Listing Statistics show 31 single family homes have been sold in Stone Harbor since September 1 2007 to today's date (February28,2008) with average sale price of $1,582,333,and the average time on market is 197 days.

Nancy@NancyMAlexander.com
www.StoneHarborRealtor.com

Avalon Single family Homes Sold since September 07

Multiple Listing Statistics show 44 single family homes have SOLD in Avalon since September 1st to present (2/28/08) with Average sale price of $1,746,091 and average days on market 289.

Nancy@NancyMAlexander.com
www.StoneHarborRealtor.com

Avalon Bayfront Homes Sold since September 2007

4725 Fourth Avenue. 60x250 lot. 5 bedrooms,2 baths. Listed for $2,575,000.Sold 1/15/08 for $2,200,000
50 Flamingo Dr. 93x141 lot. 6 bedrooms,4 baths. Listed for $5,195,000. Sold 10/1/07 for $4,725,000
Please e-mail me for more Avalon bayfront information.

Nancy@NancyMAlexander.com
www.StoneHarborRealtor.com

Bayfront Homes SOLD in Stone Harbor since September 2007

8522 Sunset Drive. 59.5x100 lot. 3 bedrooms, 2 baths. Listed for $1,695,000. Sold 12/7/07 for $1,431,000
10518 Corinthian Dr. 33.6x107 lot. 4 bedrooms, 2 baths. Listed for $1,845,000. Sold 9/13/07 for $1,635,000
11113 Third Ave. 48x130 lot. 4 bedrooms, 2 baths. Listed for $2,200,000. Sold 8/25/07 for $1,950,000
9811 Sunset Dr.73.9x110 lot. 5 bedrooms, 3 baths. Listed for $2,485,000. Sold 2/21/08 for $2,185,000
10032 Corinthian Dr.100x110 lot. 3 bedrooms,2 baths. Listed for $3,500,000.Sold 10/15/07 for $3,350,000
558 Berkley Rd. 133.5x110 lot. 4 bedrooms,4 baths. Listed for $10,500,000. Sold 2/15/08 for $8,500,000
Please e-mail me for more Stone Harbor Bayfront property information.

Nancy@NancyMAlexander.com
www.StoneHarborRealtor.com

Beachfront Homes SOLD in Stone Harbor since September 2007

#1 83rd street, 50x110 lot. 4 bedrooms, 3 baths.Was Listed for $4,295,000 and Sold 9/21/07 for $3,650,000

#4 107th street 75x100 lot. 7 bedrooms, 3 baths was Listed for $6,150,000 and Sold 9/29/07 for $5,450,000

#1 105th street 50x108 lot. 4 bedrooms, 3 baths was Listed for $4,395,000 and Sold 10/16/2007 for $3,500,000
Please e-mail me for more Stone Harbor beachfront property information.

Nancy@NancyMAlexander.com
www.StoneHarborRealtor.com

Prime Stone Harbor Commercial Real Estate Location:

261 - 96th Street, Stone Harbor, NJ Harbor Square Mall
$5,995,000.00

(click here for commercial brochure)

Prime Stone Harbor Real Estate Location:Not too often does the most prime location in possibly the best business district at the Jersey Shore become available for purchase.
Harbor Square Mall located in the prestigious business district of Stone Harbor is a Colonial Brick Mall with 18 units including a restaurant with a liquor license, specialty shops and an open food court.The property runs from 96th Street through 97th Street offering frontage on both Avenues. The building with it's brick exterior is very inviting and offers excellent opportunities for all of the 18 condominium units.Total square footage of the property is 29,015 feet with 110 foot frontage on both 96th & 97th Streets.Sale of the property includes the liquor license presently in operation. Leasing information on the property is available upon request.Don't miss this once in a lifetime opportunity to own the best location in the Jersey Shore's gem of a business district. Stone Harbor, New Jersey.

Nancy@NancyMAlexander.com
www.StoneHarborRealtor.com

Looking to buy or rent in Stone Harbor or Avalon?

Known as a wealthy and exclusive town, Stone Harbor sports a trendy, upscale central business district along 96th Street and Second Avenue. In 2006, Forbes magazine ranked Stone Harbor (08247) as #47 on its list of the most expensive zip codes in the United States, based on median home sale prices.

Feel free to bookmark this site now as your comprehensive source of information and services for buying, selling or renting real estate in Avalon & Stone Harbor, New Jersey. The Cape May County communities of Avalon, Stone Harbor , Sea Isle City , and Wildwood are all included in this site with direct access to the latest properties for sale in the area.

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MESSAGE FROM THE MAYOR-Thank you for choosing our beautiful island as your vacation destination. Whether you have been here before or this is your first visit, we are sure you will find all you need for a wonderful vacation right here. Stone Harbor is proud to boast that we have some of the best shopping and finest restaurants in the area, and we also have an ever increasing amount of recreational activities and special events. We are committed to providing our visitors and home owners with a safe, clean, friendly, family atmosphere while maintaining our tradition of quality that has made us unique among seashore communities. We hope that you enjoy your visit with us and that you will return again and again.

If you currently own real estate and are looking for a Stone Harbor NJ Realtor or Avalon NJ Realtor to list your home for sale you have found the best of the best! Nancy M. Alexander has 30+ years real estate experience in the area.

Contact Realtor Nancy M. Alexander for luxury home sales and vacation rental information at the Jersey Shore .

Nancy@NancyMAlexander.com
NancyMAlexander.com