Wednesday, November 26, 2008

Thank You!

We want to take a moment to extend our sincere thanks and warmest wishes to our clients, family, and friends. We are truly grateful for all the wonderful people in our lives.

Rich Gillespie, Adam LaHood, and Tara Gillespie

Friday, November 21, 2008

The Best Remodeling Projects to Raise the Value of Your Home

If you are like most homeowners, you probably view your home as your most important investment. Diligent homeowners often treat their homes like stock portfolios or savings accounts and always try to add value to their properties. While there are many ways to increase the value of a home, one of the most utilized methods for homeowners is the remodeling project. However, despite the remodeling successes of many homeowners, remodeling a home is not always a guarantee of added value or increased interest from potential buyers. Hence, homeowners may want to take care in how they renovate their homes, especially when there is volatility in their local housing markets. With that in mind, there are few remodeling projects that are more likely to add value to a home and allow the homeowner to recoup the costs when selling.

Based on numerous studies of the real estate market, here are the best remodeling projects to increase the value of your home and generate the most interest from prospective buyers:

  • Kitchen – As one of the most used rooms in any home, upgrades made to the kitchen are always appealing to prospective buyers. Studies show, however, that the homeowners earn the most value when performing modest upgrades including new cabinets, countertops, floors and well-priced appliances. Hence, homeowners often don’t need to worry about including luxury products when remodeling the kitchen.

  • Bathroom – In many cases, remodeling an existing bathroom can raise the value of the home as much as any other project. As bathrooms can typically be remodeled very affordably, this has long been a favorite project of homeowners looking to increase the value of their homes. Though the eventual recouped value seems to be contingent on region, most homeowners who remodeled existing bathrooms experienced better return on their investment than those that added new bathrooms to their homes.

  • Windows – Though not as visible as remodeled kitchens or bathrooms, there are few remodeling projects that improve the overall quality of a home better than new windows. For instance, smart home buyers will recognize that new windows will not only make the home more comfortable and attractive, but will also save on heating and cooling costs.

  • Siding – Though new siding and other exterior improvements may not be possible or necessary for some homeowners, no other remodeling project generates a better response from prospective buyers. Nationwide, the value recouped by homeowners that installed new siding is matched only by successful kitchen remodeling projects.

On the other hand, there are also some remodeling projects that may not provide the best value for homeowners. Real estate experts typically point to expensive additions – such as home theatres, swimming pools and wine cellars – as the riskiest remodeling projects. The key to determining if such luxurious projects will add sufficient value to the home and allow the homeowner to recoup the value lies in assessing what is right for the neighborhood. For instance, a home with two bathrooms could gain significant value when a new bathroom is added if all the surrounding properties have three or more bathrooms. Likewise, if you reside in a region where swimming pools are an expected luxury – such as the desert southwest – prospective homebuyers probably won’t see your addition as an unnecessary liability.

Most importantly, keep in mind that renovations and remodeling projects may not be as simple as they seem. It is wise to weigh the risks and to consider what is best for the local market before starting any project. If you are unsure what types of remodeling projects would add value in your neighborhood, you may want to consult a real estate agent to get a better understanding of what local buyers are looking for.

The staff at Coldwell Banker Real Estate LLC writes select articles about important topics related to real estate. For more information about buying a home or selling your current property, visit ColdwellBanker.com today.

Visit our website or contact us anytime for more information on buying or selling your home. We are here to help!

Wednesday, November 19, 2008

3 More Great Homes On The Market!

4403 S Misty Isle, Mapleton
Step into this 1.5 story home located on Lake Camelot. This 5 bedroom and 3 full bath home with a large kitchen and a full finished basement gives you all the space you could need. You won’t be disappointed with the master suite which has vaulted ceilings, whirlpool tub and a walk-in closet. Go down to the lower level for a large family room with a great fireplace and a walk-out to the back yard. With the deck off the main level you won’t miss any of the sounds and views this house offers. 2 fire places and a 3 car garage finish this home off. Come and see what lake living feels like! Check out the listing for more information and contact us if you are interested.

528 Fondulac Drive, East Peoria
Truly beautiful 2 story, 4 bedroom home on the much desired Fondulac Drive. Sitting on ¾ of an acre with seasonal river views of the Peoria skyline. Wonderfully updated with hardwood and ceramic tile floors, fresh paint, new roof in 2005, new carpet in 2005, appliances in 2004, almost all new exterior Pella windows throughout, and 200 amp service in 2007. Both bathrooms have been remodeled in 2006 and 2007. New water heater in 2007. Reverse osmosis system in the kitchen. The home offers lots of original woodworking, crown molding and built-ins. There is plenty of storage and closet space. Sit back, relax, and enjoy nature fro the three-season sun porch. Check out the listing for more information and contact us if you are interested.

3827 Sunset, Pekin
Step into this 5 bedroom, 3.5 bath ranch located just outside of Pekin. This is a builder’s home with 3700 square feet of living space. Built in 2003, it has everything you could ever want! Expansive deck, 3 car garage, full finished basement with a wet bar and 2 bedrooms. The main floor gives you 3 bedrooms and 2.5 baths with an open floor plan. The master bedroom has a large master bath and vaulted ceilings. Sitting on .73 acres, this house allows you to have access to shopping within 3 miles, but the peace of the country. Check out the listing for more information and contact us if you are interested.

Saturday, November 8, 2008

Just Listed & Staged!

We recently listed and staged 322 N Kickapoo Terrace in Peoria's Madison Manor. It is an immaculate 3 bedroom, 1-1/2 bath home ready for you to move-in. This 1-1/2 story is loaded with character and charm throughout including hardwood floors, built-in cabinetry, crown molding, window seats, and more. The main floor offers a living room with a wood burning fireplace, a formal dining room with hardwood floors and a corner built in, an eat-in kitchen with ceramic tile, a remodeled half bath, a four season room, and a bedroom. The upper level includes the Master Bedroom, a full bath, and another bedroom. There have been numerous updates over the past few years that include paint, floor coverings, roof, furnace and air, and a patio. The backyard is fenced in. This home is located in a very inviting neighborhood with brick streets among very nice homes. Check out the listing for more information and contact us if you are interested.

Staging prepares your home for sale by accentuating its advantages and minimizing its flaws. We recommended several changes to this house. Here are just a few examples from 322 N Kickapoo Terrace, Peoria:

The "Eat-in Kitchen " now has a table and chairs. Buyers have a hard time envisioning the possibilities. You need to show them.
Before & After

Decorating and design are personalizing while staging is de-personalizing and preparing a house for the unknown buyer. This room was very pink. A little paint made it more appealing to a broader audience of buyers.
Before & After
Clutter eats equity and we all have it! It is hard to be objective in your own home. An unbiased independent expert opinion can ensure your house is staged and ready to market.

Before & After

These were just a few changes we recommended in the staging consultation. Staging sets the scene throughout the entire house to create immediate buyer interest, resulting in fast sales and greater profit for you. According to a recent study done by Stagedhomes.com®, staged homes sell 50% faster and for 6.9% more money. No matter what your home's age, price, or location, whether it is plain or professionally decorated, staging can work for you!

The Gillespie Group offers a FREE Home Staging® Consultation done by an Accredited Staging® Professional™ (ASP™) for all of our listings. The consultation starts with an ASP™ visiting the home to determine what changes will need to be made to Stage® the house and take pictures of each room. The ASP™ will document a detailed report of the changes for each room of the house. Then the ASP™ will meet with the homeowner to review the report and determine when the changes will be completed. The homeowner will be responsible for making the changes. (If desired, the ASP™ can make the changes for an additional fee.) After the homeowner has made the changes, the ASP™ will meet with them to complete any finishing touches, to certify the house as Staged®, and take new pictures to post on the MLS, Realtor.com, Coldwellbanker.com, Stagedhomes.com, Peoriastagedhomes.com, and many other websites.

Visit Staging Your Home on our website for more information or contact us any time! Our goal is to sell your home faster and for more money.

Wednesday, November 5, 2008

Why Use a REALTOR® When Selling a Home?

A real estate agent can help you understand everything you need to know about the home selling process.

Not all real estate licensees are the same; only those who are members of the NATIONAL ASSOCIATION OF REALTORS® (NAR) are properly called REALTORS®. They proudly display the REALTOR "®" trademark on their business cards and other marketing and sales literature.

REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reported that 84% of home buyers would use the same REALTOR® again.

Real estate transactions are one of the biggest financial dealings of most people’s lifetime. Transactions today usually exceed $250,000. If you had a $250,000 income tax problem, would you attempt to deal with it without the help of a certified professional accountant? If you had a $250,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be wise to work with a professional REALTOR® when you are selling a home.

Learn more about the benefits of using a REALTOR® at REALTORS® for Sellers on our website.

Tuesday, November 4, 2008

Still Going Strong!

We hear concerns about the economy everyday on the news, but we are still busier than ever. Last week, we closed on 4 properties with a total of 6 transactions.

1. 10014 N Brompton, Peoria. $237,000 (Both sides)
2. 1425 Willow, Washington. $246,500 (Selling side)
3. 2621 Carlisle, Dunlap. $311,000 (Both sides)
4. 118 N Sterling, West Peoria. $125,000 (Listing side)