Bubble Grows As Home Remodeling Improves Resale Value
The housing market is growing again, and some experts are getting worried, again. Looking to not get burned this time, many people are remodeling and then selling before it is too late.
Online, June 25, 2014 (Newswire.com) - One of the hardest hit areas in the country when it came to the implosion of the housing market was Phoenix. Home values plummeted and many people found themselves owing more on their mortgages than the houses were worth… sometimes two or three times as much. The market has since stabilized, and with the rest of the economy recovering with spending going up and unemployment going down, home values are once again climbing. Some experts think that it might be climbing too fast, and some homeowners are trying to find ways to protect themselves. The best way they have found is to have a custom remodeling job on the house to increase its maximum resale value before putting it on the market.
"One of the aspects of the last housing boom and bust cycle that we are now seeing is some people were lucky enough to get out in time, invest their earnings in some other investment while they rented, and were then able to buy back into the market at a substantial savings," said Derek Fisher, a leading analyst for a major cable financial news network. "This allowed their capital to continue to grow so that when they saw the market finally bottom out, they could buy at an adjusted price and still have their original investment protected."
As the old saying goes "Fool me once, shame on you. Fool me twice, shame on me." To that end, people who are watching the housing market and other leading economic indicators grow are getting a sense that the time might be soon to make the move. By hiring a reputable company like Moon Valley Floors to come in and do a custom kitchen remodel or a hand crafted bathroom remodel, they can raise the asking price to its full value, immediately getting a return on the cost of the remodeling work. Once sold, they can invest the money in a lower performing but much more stable investment, so that if the bubble bursts again, they will already have realized the value of their initial home investment.
The first thing home buyers look for when touring a possible home is if the previous homeowner had custom remodeling work done. A professional job will substantially increase the value of the home, and the new homeowner will know that it will last for many years to come.
For more information on home remodeling by Moon Valley Floors, visit: www.moonfloors.com
Jack Terry is a freelance writer who specializes in home improvement and lifestyle articles.
