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REALTOR® Laura Sellers, Auburn, ALREALTOR® Laura Sellers, Auburn, AL

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LauraSellers01@Gmail.com
334-332-7263 Direct

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2013-14 Cost vs. Value: Remodeling Pays Off Big Time

2013-14 Cost vs. Value: Remodeling Pays Off Big Time

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Home improvement projects across the board are giving home owners a greater return on their investment when it comes time to sell. Find out which projects “open the door” to buyers and where remodeling dollars stretch the furthest.

As existing-home sales and home prices make remarkable strides upward nationwide, remodeling projects are also continuing to make a comeback in a big way.

This is the second year in a row that all 35 projects inRemodelingmagazine’s Cost vs. Value Report saw more home improvement dollars recouped upon resale of a home than the previous year.

Existing-home sales reached 5.02 million in 2013, a 9.1 percent increase from 2012, according to the National Association of REALTORS®. Home prices also rose in 2013: Existing homes commanded a median price of $197,100, up 11.5 percent from the 2012 median price of $176,800. This is the largest price gain since 2005.

Also for 2013, the cost-value ratio of remodeling projects nationwide averaged 66.1 percent, up 5.5 points over the previous year — which is, like median price, the largest increase since 2005.

Remodels That Payoff

The fan favorite in the 16th annual Cost vs. Value Report, which was released this month, was again the steel door entryway. Topping the list last year as well, this project is ideal for clients considering a quick update to the curb appeal of a home. The survey shows that a new steel door, with an average cost of $1,162, will recoup 96.6 percent of the remodeling cost at resale.

Making the biggest gain in percentage of recouped costs was the addition of a backup power generator. This project, averaging $11,742, jumped 28 percent in estimated resale value, recouping 67.5 percent of its cost in 2013. Usually at the bottom of the list, this project now ranks 25th out of the 35 projects. The increase is attributed in the report to 2013’s “unpredictable weather and multiple large storms.”

Regional Trends

The report also shows where remodeling dollars go the furthest.

Topping the list for remodeling costs recouped upon resale were Honolulu and San Francisco, at 110.8 percent and 109.4 percent, respectively. San Jose, Calif., came in third, with just shy of 100 percent of remodeling costs recouped on average. San Diego came in fourth, with 89.8 percent of costs recouped at resale; and fifth was Bridgeport, Conn., bringing in 85.9 percent of remodel costs at resale.

Also signifying distinct improvements over last year, seven of the country’s nine regions outperformed the nationwide cost-value average of 66.1 percent.

Holding onto their positions as the top two regions for recouping remodeling costs were the Pacific (Alaska, California, Hawaii, Oregon, and Washington), with an 88 percent cost-value ratio, and West South Central (Arkansas, Louisiana, Oklahoma, and Texas), with a 76.4 percent cost-value ratio.

The award for most improved region could go to New England (Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont), which moved from sixth to third this year with an overall cost-value ratio of 74.6 percent.

The two regions that held lower cost-value ratios than the national average were the Middle Atlantic (New Jersey, New York, and Pennsylvania) and West North Central (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota), with cost-value ratios of 63.2 percent and 57.3 percent, respectively.

Top Projects

If your clients are considering a home improvement project to boost the quality and appeal of their home, pass on this list of top 10 midrange and upscale projects from the 2013-14 Cost vs. Value Report:

Top 10 Midrange Projects

1. Entry Door Replacement (steel)
Job Cost: $1,162
Resale Value: $1,122
Cost Recouped: 96.6%

2. Deck Addition (wood)
Job Cost: $9,539
Resale Value: $8,334
Cost Recouped: 87.4%

3. Attic Bedroom
Job Cost: $49,438
Resale Value: $41,656
Cost Recouped: 84.3%

4. Garage Door Replacement
Job Cost: $1,534
Resale Value: $1,283
Cost Recouped: 83.7%

5. Minor Kitchen Remodel
Job Cost: $18,856
Resale Value: $15,585
Cost Recouped: 82.7%

6. Window Replacement (wood)
Job Cost: $10,926
Resale Value: $8,662
Cost Recouped: 79.3%

7. Window Replacement (vinyl)
Job Cost: $9,978
Resale Value: $7,857
Cost Recouped: 78.7%

8. Siding Replacement (vinyl)
Job Cost: $11,475
Resale Value: $8,975
Cost Recouped: 78.2%

9. Basement Remodel
Job Cost: $62,834
Resale Value: $48,777
Cost Recouped: 77.6%

10. Deck Addition (composite)
Job Cost: $15,437
Resale Value: $11,476
Cost Recouped: 74.3%

Top 10 Upscale Projects

1. Siding Replacement (fiber-cement)
Job Cost: $13,378
Resale Value: $11,645
Cost Recouped: 87.0%

2. Garage Door Replacement
Job Cost: $2,791
Resale Value: $2,315
Cost Recouped: 82.9%

3. Siding Replacement (foam-backed vinyl)
Job Cost: $14,236
Resale Value: $11,124
Cost Recouped: 78.1%

4. Window Replacement (vinyl)
Job Cost: $13,385
Resale Value: $10,252
Cost Recouped: 76.6%

5. Window Replacement (wood)
Job Cost: $16,798
Resale Value: $12,438
Cost Recouped: 74.0%

6. Grand Entrance (fiberglass)
Job Cost: $7,305
Resale Value: $5,163
Cost Recouped: 70.7%

7. Deck Addition (composite)
Job Cost: $35,158
Resale Value: $22,881
Cost Recouped: 65.1%

8. (tie) Bathroom Remodel
Job Cost: $51,374
Resale Value: $32,660
Cost Recouped: 63.6%

(tie) Major Kitchen Remodel
Job Cost: $109,935
Resale Value: $69,973
Cost Recouped: 63.6%

9. Roofing Replacement
Job Cost: $34,495
Resale Value: $21,731
Cost Recouped: 63.0%

10. Bathroom Addition
Job Cost: $72,538
Resale Value: $43,936
Cost Recouped: 60.6%

The data used in the Cost vs. Value Report was collected with the help of REALTOR® Magazine in an online survey between August and October 2013. More than 4,500 NAR members participated from 101 U.S. cities, up from 81 cities included in last year’s survey.

Visit www.costvsvalue.com to find information from the 101 cities included in the survey and download free PDFs that include specific metro-area market data. (Site registration is required.) Also visitHouseLogic.com for a slide show of the report’s results.

Construction cost estimates were generated by RemodelMAX. Cost vs. Value is a registered trademark of Hanley Wood, LLC.

Please click here for more information.

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Client Reviews

High attention to detail

"Laura Sellers is a relationship driven professional that has a high attention to detail and works diligently to ensure a positive outcome for her clients. Laura is a woman of high integrity.”

Tom R.

Phenomenal job

"Laura Sellers did a phenomenal job of listening to our objectives and helping us clarify what we were really seeking in our new home. I do not hesitate to call her whenever I need help with all of our real estate needs. I also make sure I recommend her to all my friends."

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Laura is the best Realtor in Auburn!

I've worked with many real estate agents in the past, but never one as professional, organized, and patient as Laura Sellers.. During the two days I spent searching for the perfect home in Auburn with Laura, she not only took the time to schedule a wide range of listings across Auburn, but she also took

Sam CEO Northcutt Enterprises Auburn, AL

Best Auburn Realtor!

Laura is exceptionally accommodating and very responsive. We were first-time home buyers, and she was very patient and helpful with all our questions! Highly recommend. Will definitely be referring her to friends and family.

Sarah EAMC Auburn, AL

Realtor review – Auburn, AL

Laura is professional and knowledgeable in assisting both buyers and sellers. She was well versed in the local market and was in tune with my families vision for our new home. She sold our last house in a few weeks. I wouldn't hesitate to use her again.

Sarah Jennings

Home Buyer in Auburn AL

Laura made buying a home an incredibly enjoyable and smooth process. My husband and I are first-time home buyers so there was a lot of education taking place during the past few months. We found that Laura was always on the ball and one-step ahead to make sure their weren't any surprises. Not only that,

Ginger Sweeney Auburn, AL

Home Buyer in Auburn AL

Laura helped me through every step of the way when buying a home in Auburn, AL. She was always easily reachable and prompt in responses and saved me at least 15 grand on the sale. She was recommended to me by a friend who had a wonderful experience with her as well! Highly recommended.

Stephan O Auburn, AL

Seller

From the beginning Laura was hardworking, honest, and extremely knowledgeable about real estate. She made the process of selling my home easy. I received the price I wanted and I could not be happier. I would use her services again in a heartbeat and I strongly recommend her if you want to sell your home!

Melissa G

Home Seller in Auburn, AL

Selling my house could not have been easier. I live out of state and closed while across the country. The house needed repairs. Even considering all those potential problems, she went out of her way to make sure everything went smoothly. Laura was always easy to get a hold of and she has great contacts

Bryan S

Retired Buyer

Laura Sellers was a huge help in my search for a new home. She was always available for showings when it was convenient for me and very quick to respond. Being able to see homes as soon as they hit the market was crucial for my price range. She was very honest and did not

Kate S Auburn, AL

Home Seller

Laura Sellers did a truly remarkable job for us, selling our house in Auburn. We were having a very difficult time finding a buyer for our house before we met Laura. The house sat on the market for nearly a year when we decided it was time to list it with Berkshire Hathaway HomeServices. We

Harry T Auburn, AL

Purchased House for Sale Auburn AL

Laura Sellers was a huge help in my search for a new home. She was always available for showings when it was convenient for me and very quick to respond. Being able to see homes as soon as they hit the market was crucial for my price range. She was very honest and did not

Beth C House for Sale in Auburn Al

Best Auburn AL Realtor

I have done business with Laura for many years.She is by far the best of the best. She is not only loyal and trustworthy ..she gets the job done . She is attentive , caring and honest. I refer all my friends to her . She has been our Realtor for years and I would

Kathleen D Auburn AL

Buying a house in Auburn AL

It was a pleasure to work with Laura. She is acceptionally professional, and has a great knowledge of the area and the market. We felt comfortable to come to her for any advice and concern, and she always come through with good recommendations and problem solutions. If we ever decide to sell our house or

Andy W Auburn AL

Best Auburn Realtor

I have to say that Laura Sellers exceeded our expectations in every way. Laura is the smartest realtor that I have ever met. She takes care of business rather quickly and efficiently. She is very thoughtful and thinks of everything. From day 1 she did everything she said she would do.  She is a person

Natalie G

Best Auburn Realtor

Words cannot express how thankful I am for Laura. Selling my first home was hard enough and she went above and beyond to ensure (1) I was well informed before moving forward with my sale, (2) made sure I was updated in a timely manner throughout the entire process, and (3) took the time to

Craig C Auburn AL

Best Realtor in Auburn AL

Laura was awesome to work. We were new to the area and was knowledgeable about the town and various neighborhoods. We highly recommend her! We told her what we were looking for and she lined up properties for us to see. Often spending an entire day with us. She understands very well what to look 

Sally S

Laura is the best Realtor in Auburn

This was my second time working with Laura as a home buyer. She is great to work with and is very accessible to her clients. She kept me informed throughout the escrow process and I had a smooth and stress-free closing experience. I would work with Laura again and recommend her services to anyone considering

Best Realtor Auburn AL

This is the second real estate transaction we have done with Laura. She made the buying process easy and painless for us. This was especially important since we weren't physically present for the transaction. Laura went above and beyond, making sure we received and understood all the documents,  accommodating the needs of the seller who

Katie G Auburn AL

Best Auburn Realtor Berkshire Hathaway HomeServices

We stumbled on to Laura through blind luck and and sticking with her was easily the best decision we made throughout the whole process (even including the whole choosing our house decision!) Finding a place can be a long, daunting process, and if you should be so  lucky to find a place that works, getting

Frans K Auburn AL

The Legacy at Cary Creek – Best Auburn Realtor

I think if it wasn’t for Laura, I would never have found my new home and it is beyond perfect. Laura knows all of the right people - including lenders, attorneys, etc. to get the job done as smoothly as possible. As a retiree, I had not purchased a home in a long time and

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Auburn Real Estate Review

Laura Sellers was phenomenal to work with. Not only did we get eight offers in just 24 hours, we got an all cash offer above our asking price. Laura was very responsive and she worked tirelessly to ensure the deal got done and very quickly. I highly recommend her as I do her firm.

Rob C

Best Auburn Realtor

Laura just helped us purchase a home in Auburn, AL. Without her help I don’t think we would have gotten this home. And without her, we would not have been able to cope with the emotional roller coaster that goes with being a buyer in a highly competitive market. Throughout the process Laura was a

Robert S auburnopelikaalrealestate.com Auburn, AL

Auburn Condo

Laura was professional from the start of what can be a very stressful process. She was always available and quick to respond to any requests or concerns I had. My property sold in less than 1 day for over my asking price.

Phillip A Auburn AL

Very helpful and accommodating

Everyone at Berkshire Hathaway HomeServices has been very helpful and accommodating while selling my Auburn, AL home. It made selling very easy for our busy family. Also Laura is amazing.

Sally Auburn AL

Buying a home in Auburn AL

Buying a home is an extremely stressful thing. I needed someone that was going to answer my questions and have my back. I have the highest praise for Laura. She is very knowledgeable, in all the categories above. Her and her team work very hard to make sure their clients are happy. She also is

Hannah S Auburn AL

SOLD my Auburn, AL home in less than 2 weeks with Laura at Berkshire Hathaway HomeServices

SOLD my Auburn, AL home in less than 2 weeks with Laura at Berkshire Hathaway HomeServices

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Best Auburn Realtors

We are so fortunate to have the opportunity to work with Laura! We were moving in from out of state and had a very limited timeframe to house-hunt and a really wide range of areas we could live in! She immediately understood what we were looking for and every set of homes she added to

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334-332-7263 Direct
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1810 E Glenn Ave., Ste 130
Auburn, AL 36830


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