5 Remodeling Projects With the Best Return

Home remodeling is as hot as it's ever been. Here are five projects that bring the best return on investment.

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Home remodeling is hotter than ever.

According to researchers at Harvard University, remodeling investment is up 6% over last year, and now makes up a $324 billion market.

According to a survey of remodelers and real estate professionals, there are five remodeling projects that offer the best returns:

1. Your kitchen. Kitchen remodeling can be as simple or as elaborate as you like. However, to maximize your return, keep your investment to under 20% of the value of your home—as is recommended by surveyed real estate professionals. The outcome? A whopping 85% return on your investment.

2. Your bathroom. A thorough bath remodeling project can cost up to $20,000. However, not only will it pay for itself, it should give you an added 80% return.

3. Your deck. Replacing your deck can cost you anywhere from a few thousand dollars to tens of thousands of dollars, depending on the size. The expected benefit will be similar to a bathroom remodeling project—around an 80% return for a fresh, new deck.

4. Your siding. Fading or worn-out siding can turn off potential buyers before they even step foot in your home. Replacing old siding will make it much easier to sell your home, and in addition, it should give you an 80% return on an investment of around $10,000.

5. Your windows. New windows can mean greater energy efficiency, increased thermal and acoustic comfort, and a more modern look. Homebuyers are well aware of this, and they are willing to pay accordingly. That's why a typical window replacement should yield at least a 70% return on your investment.

Some will make more sense for your home than others.

Clearly, some of them will make more sense for your home than others. If you're considering selling your home, then just one of these projects could add tens of thousands of dollars to the price you'll be able to get.

If you have any questions or want additional advice about which remodeling projects make sense for you, give me a call or send me an email. We can discuss all the details and I can give you an accurate estimate of what these projects could be worth. I look forward to hearing from you!

How the Fed’s Recent Rate Hike Impacts Our Market

The Fed’s recent rate hike shouldn’t have any significant impact on our market. In fact, it might actually stimulate it.

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On June 14th, the Federal Reserve increased its federal funds interest rate by 0.25%. They’re also widely expected to raise rates once or twice more over the course of 2017. What does this mean for the real estate market?

While any action by the Fed always garners a lot of attention, we believe these increases will not have any significant impact on our market.

First of all, mortgage rates have actually trended lower in the wake of the Fed’s recent announcement. The 30-year mortgage rate recently hit 3.9%, the lowest level in 2017. In fact, it’s a common pattern for the mortgage rate and the Fed rate to move in opposite directions, and the same thing has happened the last two times the Fed raised rates.

Second, the economy continues to do well. The Fed decided to increase its rate because unemployment and inflation are low, household spending is picking up, and we’ve seen steady growth for the past nine years. This is good news for the real estate market. As expected, we continue to see strong demand and a corresponding increase in home prices.

These increases will not have any significant impact on our market.

Third, while the Fed’s rate increase is normally meant to cool off the economy, it might actually stimulate it in this case. Because interest rates were so low for such a long period of time, experts believe the recent increases might ease pressure on the financial system and encourage lending.

Case in point: since the Fed started raising its rate in December 2016, total mortgages are up 2.5% year over year.

In conclusion, while any move by the Fed is likely to lead to a lot of hand-wringing, we believe the real estate market will not be affected and will continue on its own healthy course. Nonetheless, it’s clear that right now is a uniquely good moment for everyone in the real estate market. Today’s low mortgage rates are good for homebuyers because they make homes more affordable.

If you have any questions about our market or you’re thinking of buying or selling a home, give us a call at 678-631-1758 or send us an email at info@TheCowanConnection.com. We'd love to help.

Tell Us About Your Summer Fun and Win a Yeti Cooler!

Today I’m giving you all the details you’ll need to enter our Yeti cooler giveaway!

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Today my team and I want to share a few cool things we’ve done this year to kick off our Yeti cooler giveaway.

Melissa Gilbert, our listing coordinator, went to Athens last weekend to spend some time with her daughter and attend the Creature Comforts third anniversary party.

Steve Payment, one of our buyer specialists, visited his daughter in Washington D.C. and got to see all the cool monuments and sites.

Another one of our buyer specialists, Michelle Burge, recently watched her son Wesley take his oath of enlistment to join the U.S. Army and celebrated her granddaughter’s first birthday.

Our closing coordinator, Ari Holt, went to Ireland to celebrate St. Patrick’s Day.

I got to do something cool as well! I got to go to Tampa to see my Clemson Tigers win the National Championship.

Those are some of the cool things we have been up to, but we want to know what cool things you’re up to! We’re going to send you a koozie to take a picture with while doing something cool. Post that picture on Facebook with #thecowanteamiscooler to get entered into our Yeti cooler giveaway.

Here are all the details you’ll need.

Tuesday, August 1st, one lucky fan of The Cowan Connection Team will be chosen to receive a free Yeti Cooler!

How can you be that lucky winner?

Step 1: Get a #thecowanteamiscooler koozie. Stop by one of our team events, swing by our office, give us a call, or head to www.thecowanteamiscooler.com to have a koozie mailed to your home or office.

Step 2: Keep the koozie handy during all your summer fun at the pool, the beach, the stadium, the lake, or anywhere you’re hanging out this summer.

Step 3: Snap a picture of you making the most of your summer with the koozie and post it to Facebook with the hashtag #thecowanteamiscooler and make sure to tag The Cowan Connection Team too!

Don’t forget to tag the Cowan Connection Team in your koozie photos!

Step 4: To increase your chances of winning, tag The Cowan Connection Team in a photo with the koozie, and the #thecowanteamiscooler to Instagram (@teamcowan) and Twitter (@teamcowan) too!

Deadline to enter: Monday, July 31, 2017

If you have any questions, feel free to reach out to us. We would be happy to help you.