Miami real estate news and information

Painting and Landscaping… Are They Worth the Investment?

CIMG2986One of the most frequently asked (home-owner) questions  is how to get the most return on investment on real estate.  Sellers often doubt whether painting and landscaping bring any semblance of a worthwhile return on their investment. 

A picture is worth a thousand words …  or so they say.   Of the homes pictured here, which would you take a second look at ?  Which would you pass by, not seeing the investment potential ?   These are before and after shots… the home is ONE home.

12720 SW 82 Ave  Pinecrest 

Pinecrest is one of a handful of  neighborhoods in Miami that particularly appeal to families relocating to Miami-Dade.  Buyers are drawn to Pinecrest because of the top public and private schools, making Pinecrest one of the premier housing markets in South Florida… 

In Pinecrest, where acre lots are the norm, selling prices have averaged $245.00 per square foot – on single family homes sold between January and August 2010.  

This 3 bedroom 2 bath ranch style home sold for $151,500  as a short sale in 12/2009… $69.62 a square foot…  It’s far from being an acre property.  The lot measures 11,161 square feet, and the house itself  2,176 square feet… Not for every buyer, it’s situated on the corner of  a fairly busy residential intersection with a flashing traffic light.  And it  stands out now… and has curb appeal.

The buyers were able to envision what the property would be worth once it was remodeled, painted, landscaped, windows changed and re-roofed.  A house like this one could easily sell for close to $500,000  in Pinecrest … Whatever the cost was to renovate this property,  I am sure it left a substantial  margin for profit. … and potential future return on  investment. 

I can’t  tell you how many potential buyers are kicking themselves now … having passed by this house … discounting it because they couldn’t see the potential.

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