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%.

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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.

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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.

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