5 Of New York City’s Most Famous Micro Apartments | Louis Ceruzzi
Seven Surprising Real Estate Tips | Louis Ceruzzi
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Transcript of Seven Surprising Real Estate Tips | Louis Ceruzzi
SURPRISING REAL ESTATE
SEVEN
LOUIS CERUZZITIPS
THE STARBUCKS EFFECTFACT: A HOME LOCATED NEAR A STARBUCKS WILLSELL FOR FAR MORE THAN A HOME THAT'S SOME
DISTANCE FROM A STARBUCKS.
In 15 years time, we'll see that that the average U.S. home will appreciate 65percent, while identical homes near a Starbucks will appreciate 96 percent,
according to NYPost.
MYTH OF RENOVATION EQUALITYFACT: IF YOU WANT THE GREATEST RETURN OF
INVESTMENT, COMPLETE A MID-RANGEBATHROOM REMODEL. ____________________________________
A $3,000 renovation should garner a return of $1.71 for each dollar spent. Kitchen remodels and finishing a basement offer you the best bang for
your buck. Even a top-of-the-line kitchen renovation will cost $22,000 andwill grant a return for $0.51 for every $1 spent.
LANGUAGE IN LISTINGSFACT: Don't use 'TLC,' 'unique,' 'potential' and
'investment' when creating a listing, whichcould lower sale prices by as much as 7%.
____________________________________
However, words such as "luxurious" when describing lower-tier and"captivating" when describing high-profile homes could increase the home
value by 8.2 percent.
TIMING AS IMPORTANT AS COSTFACT: In NYC, the best time to sell is inMarch, and the worst time is during the
second week of December.____________________________________
Listings sold for 2.8 percent less than average during the second week ofDecember, while homes sell faster and for 2 percent more during the
March.
'777' IS UNLUCKYFACT: Homes with the numbers '777' as a part
of their address sell for approximately 2.1percent less.
____________________________________
House numbers with '777' in the middle of the address number sell forapproximately 1.8 percent less. However, houses with a singular '7' sell for
1.8 percent more than the estimated value.
PSYCHOLOGICAL PRICINGFACT: Listings with a '9' in the thousand digit
sell slower.____________________________________
If you're looking to sell homes at $250,000 or $249,000, you'll quicklylearn that homes sold at the $249,000 price point will sell anywhere from
days to a full week later.
NAMED STREETS = $$$FACT: Homes on named streets are likely tobe 2 percent more valuable than numbered
streets nationwide (outside of NYC).____________________________________
However, Main street homes garner 4 percent less than the nation's medianhome value. Meanwhile, homes with street names Sunset or Lake will sell as
much as 16 percent higher. Also, it should be mentioned that homes on'Street' are valued at much less than 'Way', which are valued at $183,120 and
$310,000, respectively.
INTERESTED INLEARNING MORE?
Please visit LouisCeruzzi.net to learn more!