Tuesday, February 7, 2012

If you can't (or don't) want to sell: Remodel!

I just received the latest remodeling report from January, 2012, the National Association of Home Builders’ remodeling market index hit its highest level in five years.

It’s not that remodeling is moving into boom territory, said David Crowe, chief economist of the association, but rather that for many consumers, fixing up their house now fits their sentiments — and their finances — far better than selling or buying.
Interviews with builders and remodelers in different parts of the country point to important changes in homeowner strategies. In Seattle, Joe McKinstry, president of Joseph McKinstry Construction Co., says inquiries about possible remodeling projects have nearly tripled in the past 12 months.
“I feel like people are starting to say, ‘Well, we’re not going to move anytime soon because, if we do, we’re going to get 30 percent less than the house is worth. Why don’t we do something in the kitchen or bathroom for our own enjoyment, since we’re not going anywhere real soon?”
Needs for remodeling funds can come from a cash out refinance, coupled with lowest rates in history, to meet your needs.  Call me at 801-540-5108 and I can review your options.  :)

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