It's hard to believe how fast summer flew by, and that it's September already!

From One Storm to Another 

What a whirlwind it's been...literally! I had the dubious honor of experiencing my first hurricane - Irene - when visiting Vermont the weekend of August 28.  I hunkered down in my hotel room, watching as Irene settled down to a mere tropical storm. It was ironic: in a state that seems to snow nine months out of the year, anything "tropical" usually requires airfare.

Yet the recent past has taught us to expect the unexpected - from the weather to the economy. The downgrade of the U.S. credit rating to AA+, the European debt crisis, or a still-sluggish real estate market have all been unanticipated events with a huge affect on consumer confidence. But just like being in the middle of a storm: keeping a level head and looking beyond the current situation helps us keep our balance.

As far as the real estate market is concerned, taking a long-term view is more important than ever. No: property values are no longer rising at meteoric speeds. But the flip side shows record low mortgage rates along with record high affordability. Common sense still prevails when it comes to homeownership. Keeping your home well maintained and in top condition does more than preserve the value of what is likely your largest investment. It also proves to be a major advantage when you decide to sell. According to Debbie Glickman of Coldwell Banker, "The housing market is definitely still alive! But it's the homes that are well-maintained and have had improvements that are selling in our area."

Where to Invest in your Home 

Which improvements make the most sense for a solid return on your investment? Traditionally it's been updating kitchens and baths, according to Judy Greenberg, also of Coldwell Banker. However, home improvement projects that incorporate sustainability are increasingly showing good value. A study conducted by the Earth Advantage Institute found that new homes with third party certifications for sustainability and energy efficiency (LEED or Energy Star) sold for 8% more on average than noncertified homes.   Existing houses with certifications sold for 30% more. Another plus was that on average, the certified homes spent 18 fewer days on the market than their noncertified counterparts. This, of course, is above and beyond the familiar benefits of living in a home that is altogether healthier, and saves energy and resources.

No one can say when the current housing market storm will pass.  But with plenty of evidence to justify that wisely investing in properties - even now - makes good financial sense, I contend that every cloud has a silver lining. 

All the Best,
 

Lenore