ies among urban, suburban and rural areas and with the availability of these features in similar homes nearby. In all cases, the increase in home value should be balanced with the “owner enjoyment” derived from the improvements.

Do online property valuations work?

What’s that home worth? Home valuations

Home improvements that are worth the investment

Each year, Remodeling magazine publishes its annual Cost vs. Value report to help homeowners identify which improvements provide the highest ROI. Although your specific home and your situation generally will determine which improvements make the most sense, it’s always helpful to consider the anticipated return before undertaking any remodeling project.

In the 2006 report, replacement project winners edged out remodeling for top returns in national averages. The top replacement projects include high-end fiber cement siding, midrange vinyl siding and midrange wooden windows.

Winners in the remodeling ROI category included minor kitchen and bathroom remodels at 85 percent return. For example, the national average $17,928 investment in a minor kitchen remodel returned $15,278 in resale value. Basement remodels returned 79 percent, while home office remodel projects recouped about 63 percent of their cost at resale.

The magazine noted that similar remodeling projects had very different returns in various regions of the country. For example, the return on a bathroom remodel in Cleveland was 59.8 percent, while a similar project in San Francisco might yield a 124.8 percent return. The return on investment also varies among urban, suburban and rural areas and with the availability of these features in similar homes nearby. In all cases, the increase in home value should be balanced with the “owner enjoyment” derived from the improvements.

Do online property valuations work?

What’s that home worth? Home valuations

lways helpful to consider the anticipated return before undertaking any remodeling project.

In the 2006 report, replacement project winners edged out remodeling for top returns in national averages. The top replacement projects include high-end fiber cement siding, midrange vinyl siding and midrange wooden windows.

Winners in the remodeling ROI category included minor kitchen and bathroom remodels at 85 percent return. For example, the national average $17,928 investment in a minor kitchen remodel returned $15,278 in resale value. Basement remodels returned 79 percent, while home office remodel projects recouped about 63 percent of their cost at resale.

The magazine noted that similar remodeling projects had very different returns in various regions of the country. For example, the return on a bathroom remodel in Cleveland was 59.8 percent, while a similar project in San Francisco might yield a 124.8 percent return. The return on investment also varies among urban, suburban and rural areas and with the availability of these features in similar homes nearby. In all cases, the increase in home value should be balanced with the “owner enjoyment” derived from the improvements.

Do online property valuations work?

What’s that home worth? Home valuations

p>Winners in the remodeling ROI category included minor kitchen and bathroom remodels at 85 percent return. For example, the national average $17,928 investment in a minor kitchen remodel returned $15,278 in resale value. Basement remodels returned 79 percent, while home office remodel projects recouped about 63 percent of their cost at resale.

The magazine noted that similar remodeling projects had very different returns in various regions of the country. For example, the return on a bathroom remodel in Cleveland was 59.8 percent, while a similar project in San Francisco might yield a 124.8 percent return. The return on investment also varies among urban, suburban and rural areas and with the availability of these features in similar homes nearby. In all cases, the increase in home value should be balanced with the “owner enjoyment” derived from the improvements.

Do online property valuations work?

What’s that home worth? Home valuations

eir cost at resale.

The magazine noted that similar remodeling projects had very different returns in various regions of the country. For example, the return on a bathroom remodel in Cleveland was 59.8 percent, while a similar project in San Francisco might yield a 124.8 percent return. The return on investment also varies among urban, suburban and rural areas and with the availability of these features in similar homes nearby. In all cases, the increase in home value should be balanced with the “owner enjoyment” derived from the improvements.

Do online property valuations work?

What’s that home worth? Home valuations

ies among urban, suburban and rural areas and with the availability of these features in similar homes nearby. In all cases, the increase in home value should be balanced with the “owner enjoyment” derived from the improvements.

Do online property valuations work?

What’s that home worth? Home valuations are determined a number of ways, with varying cost and accuracy. Recently, online valuation sites such as Zillow have become extremely popular, but some consumers may misunderstand their purpose.

These websites feature free research tools and their valuation estimates vary widely due to availability of current data, property features, sales price trends and more. While free valuation websites may be enough to satisfy curious homeowners, those who are thinking of buying or selling may want to research other options for more accurate home valuations:

- BPOs (Broker Price Opinions) are valuations performed by a licensed broker or agent and may be useful to save time when a full appraisal is not required. BPOs are generally not as accurate as a formal appraisal, but are less expensive and take less time. They are generally more accurate in homogenous neighborhoods, with similar types of homes.

- CMAs (Comparative Market Analysis) are performed by a licensed broker or agent to determine a property’s probable current value. High-quality CMAs include data from comparable nearby homes on the market, sold properties, expired listings, and pending sales. When performed by an experienced agent, CMAs can be very effective in determining a property’s realistic sales price.

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