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The Theme Continues For Now: Sales Prices Climb, Activity Slow

by The Worrell Group

According to MIBOR’s Monthly Indicators Report for January, the trend that defined  much of 2010 continues in the first month of 2011 with strong median and average sales prices coupled with decreased sales activity.

For the three months ending in January, median and sale prices increased by more than four percent each to $119,500 and $147,966 respectively. Closed sales are down 17.5 percent, new listings are down 10.7 percent and overall months of inventory is down to eight months – a 9.2 percent decrease over the same three month period a year ago.

Get Started NOW - Don't Wait For The Snow To Thaw!

by The Worrell Group

(ARA) - Major home renovations can be overwhelming, but there are a few fundamental repairs that can update your home’s appearance and increase its value. If you’re planning to sell your home in 2011, take advantage of the colder winter months to prepare your home for a spring sale by focusing on a few key projects:

GET COOKIN’ IN THE KITCHEN. Experts agree that a kitchen can significantly impact a home’s perceived value. An outdated kitchen can be a deal breaker for many homebuyers. Naturally, then, it’s the place you might spend the most amount of time updating. To increase the appeal of your kitchen, consider investing in updated, matching appliances that match the style of your kitchen. Some manufacturers even offer replacement panels to update the exteriors of older appliances.

UPDATE AND UPGRADE LIGHT FIXTURES. Lighting is key. It can drastically change the look and feel of a room, and lighting fixtures are affordable and relatively simple to install on your own. Shop discount stores and home improvement depots to find a statement piece to add spice to your living room. A beautiful ceiling fan with lighting can serve double-duty to update your family room. Remember, well-lit and bright rooms appear larger and more open.

STEP ON IT. Flooring is one of the first things that potential homebuyers notice. Make sure you dust, vacuum and clean so that you show off the flooring to its best advantage. If you have carpet, consider replacing it with wood floors or wood alternatives. If you already have hardwood floors, polish and protect your flooring so that it gleams when potential buyers step into the home. Also, don't forget that a fresh coat of neutral coat of paint can make a HUGE difference.

Whether you’re trying to sell your home this winter or simply want to update its look, you don’t have to wait until the spring thaws. When the cold weather drives you inside, take advantage of the time to make attractive upgrades that can increase the appeal and value to your home.

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The Randy Worrell Team
RE/MAX Legends Group
5645 Castle Creek Pkwy N
Indianapolis IN 46250
Direct: 317-819-3330
Voicemail: 317-644-0086

Randy Worrell  -  RE/MAX Legends Group       317-819-3330  Direct       317-590-5709  Mobile