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July REAL ESTATE NEWS
 
 
 
If you’re thinking about a home reno, read this post first!
Customizing a home to your tastes is one of the best things about home ownership, but before swinging a sledgehammer there are a few things you should know to make sure you get max ROI.  Check out a few Insights from the NAR’s 2022 Remodeling Impact Report:   
 
Top 5 interior reno projects for max ROI: 
  • Hardwood floor refinish: 147%
  • New wood flooring: 118%
  • Insulation upgrade: 100%
  • Finish basement area: 86%
  • Closet reno: 83%
  • Bathroom reno: 71%
  • Kitchen upgrade: 67%
Top 5 exterior reno projects for max ROI: 
  • Replace roof: 100% 
  • Garage door replacement: 100% 
  • Upgrade to fiber cement siding: 86% 
  • Vinyl siding replacement: 82% 
  • Vinyl windows: 67%
All of the renos on this list would be thumbs up from where I sit! Got another idea you’re considering? Reply to this email and let’s chat about how it may impact your home’s value.
 
How has the market changed since my June newsletter?
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Are we headed for a repeat of 2008 real estate market crash?
 
A big, resounding NO !
What happened in 2008 was caused by cheap debt, shady lending practices, and financial acrobatics that ended with too many borrowers in mortgages they couldn’t afford.
 
"Even if a nominal home price decline comes this time, it’s unlikely to be like 2008. Plus, the supply of houses can not meet current demand."
Research Economists, Dallas Fed for Fortune.com
 
My Advice?
Not every recession is a housing crisis. 
So if you’re looking to buy, sell, invest, or flip, here's what to do: silence the naysayers, look at the stats, and find an agent who can help you make on-time and informed decisions in 2022.

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CENTURY 21 CLEMENS GROUP
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