| Home Sellers in a "Wait and See"
As we kick off 2007, many would-be home sellers are taking a cautious
“wait and see” attitude toward the housing market.
The latest ServiceMagic.com poll shows more than one in three
respondents – 36% – would like to sell their homes,
but are holding off until the housing market regains its strength.
More than 1,300 people from across the country responded to the
poll conducted by ServiceMagic.com, the nation’s leading
service connecting homeowners to prescreened contractors and other
home service professionals.
Eight percent said they would like to sell their homes now, but
couldn’t because the mortgage balance on their homes is
Whether they had plans to sell or not, 69% said they plan to make
improvements to their home in 2007, whether it’s remodeling
a room or upgrading a roof or windows.
“No one likes to think about putting a bunch of money into
a home they are leaving. But if you must sell your house in a
weak housing market, certain projects or upgrades should be considered,”
said David Lupberger, ServiceMagic.com’s Home Improvement
Expert. “If you’re home isn’t selling, take
a step back and think about the things that would make it more
attractive to potential buyers. Start with the cheapest and work
your way up.”
The ServiceMagic.com poll shows that 60% of respondents who are
considering improvements for 2007 plan to spend more than $5,000.
20% say their spending will actually be above the $20,000 mark.
“Those results show that even in a down market people are
willing to continue putting a lot of money into their biggest
investment,” Lupberger said.
Of those who said they plan a home improvement project in 2007,
39% said they will take care of maintenance issues. 35% said they
will likely remodel a kitchen or a bathroom. The complete results
of the poll can be found at www.servicemagic.com.
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