How do our home prices compare to the rest of the country?

It is interesting to see the cost of home ownership in most of the other major metropolitan areas of the country. The National Association of Realtors has compiled a list of the cost for homes in the major metropolitan areas of the country. The chart shows the median sales price for each of the areas from 2003 through the third quarter of 2006. In addition, you will be able to see the percentage of appreciation for the three quarters of 2006 in each area. Double digit appreciation was on the rare side for most of the country. However, in the Seattle area, the overall appreciation for the first three quarters of 2006 was 14%. We actually experienced great appreciation for last year when compared to other parts of the country. The area with the greatest appreciation for the first three quarters of 2006 was (drumroll, please) Salem, Oregon with an appreciation rate of 24.7%. Following closely behind was Elmira, NY. Homes appreciated at the rate of 21% (Elmira? I want to know what is going on there!) It is also interesting to see the many areas that declined in appreciation last year. Many of the stronghold areas of appreciation in the country, San Diego, Los Angeles,etc, experienced negative appreciation or single digit appreciation.

The range of appreciation in the Seattle area varies according to the specific city and neighborhood. But, stayed tuned, more on that will be coming in a later posting for our Eastside neighborhoods...

http://www.realtor.org/Research.nsf/files/MSAPRICESF.pdf

Home Safety Checklist

Attention all of you with parents! Now that I have your attention:

In my travels I am encountering more and more people who are helping elderly parents cope with lifestyle changes. I, too, have gone through the same situation with my parents over the last few years and I found it very difficult, frustrating, scary, you name it. The family roles were reversed with me taking on the job of the parent to manage my own parents' safety and comfort. It was hard to know where to begin. There are many resources out there, but they are often difficult to find. When I have spoken with many of you, I haveoften come away with the feeling that everyone is having to reinvent the wheel. Each of us is doing the same research and looking for the same help. For those of you who may need a place to start, here it is:

http://rebuildingtogether.org/downloads/home_safety_checklist.pdf


The list is a great one for analyzing safety and accessibility issues in a home.

The general website, http://rebuildingtogether.org is filled with great information.

Should you remodel?

I am often asked what updates to a home make the most sense and reap the greatest financial reward when you go to sell your home. As most people know, updated kitchens and baths really excite most home buyers. The National Association of Realtors annual cost vs. value report analyzes the value of remodels in different areas of the country. What sells in Peoria may not sell in Seattle!

If you want more specific information about a home update or remodel, please feel free to call on me. Since I have been out looking at many new and remodeled homes in the area, I know what people like. You may not be selling your home at this time, however, making the right choices when remodeling can reap you additional money when you decide to sell your home in the future. Making the wrong choices can be very expensive.


http://www.realtor.org/rmomag.NSF/pages/2006CostvsValue?OpenDocument