SOMETHING VENTURED, NOTHING GAINED
ERA Names Five Improvements That Add Value To Homes And Five That Tank Home Values
Parsippany, NJ (May 31, 2000) – New bathrooms, painted kitchens, overgrown gardens and exotic color schemes... which of these is most likely to add lasting value and which might damage the worth of your home? ERA Franchise Systems, the global real estate franchise system, interviewed three of the top ERA sales associates to find out.
The three: Arlene Stewart, of ERA Ben Porter Real Estate, Huntsville, Alabama; Anna King, of ERA King Real Estate Company, Anniston, Alabama; and Demetria Chadbourne, of ERA Agency 1, Gorham, Maine, collectively sold more than $80 million in real estate in 1999.
BEST IMPROVEMENTS
1. Clean, Neat Landscaping
2. Spacious, Renovated Baths
3. New, Light Woodwork
4. Attractive Fixtures
5. New Floor Coverings
WORST IMPROVEMENTS
1. Removing Walls
2. Painting in Unusual Colors
3. Anything Done Cheaply
4. Structures for Exotic Pets
5. Converting a Garage
BEST IMPROVEMENT: Clean, Neat Landscaping "I have to say, a man and a chainsaw can do a lot for a house," says Stewart. Less is more in the yard. "People can get carried away playing gardener. Actually, this often detracts from the value of the house." Stewart emphasizes the need to "catch buyers as they walk to the door." She recalled a house that had been on the market for two years without selling because the yard was crowded with trees and shrubbery – until she brought in a man with a chainsaw. "People have to fall in love with the outside first."
WORST IMPROVEMENT: Structures for Exotic Pets Creating elaborate structures for wild birds, ferrets, monkeys or other exotic pets can ruin the value of a house and cause it to linger on the market unsold. Stewart urges people who put their house on the market not only to hide their pets, but also to undo any structures they have created for their pet's enjoyment. She recalls a homeowner who had turned an entire 12' x 17' room into a play area for a large, smelly ferret. "If a potential buyer even smells a pet odor, they'll turn around and walk out."
ERA Franchise Systems LLC, a subsidiary of Cendant Corporation (NYSE:CD), is a leader in the residential real estate industry with more than 25 years of experience in developing consumer-oriented products and services. The ERA real estate system includes more than 2,600 independently owned and operated brokerage offices with more than 28,000 brokers and sales associates throughout the United States and 20 countries and territories. ERA is available to consumers on the Internet at www.ERA.com, a member of the move.com network.
