Author Archives: Savino James

Most Homeowners Say Home Improvement Projects Worth It

Most Homeowners Say Home Improvement Projects Worth It

ORLANDO, Fla. – Whether it’s a kitchen redo or a new front door, homeowners who undergo a home improvement project often find that the task was worth the investment and time, according to the latest remodeling report from the National Association of Realtors® (NAR) with insights from the National Association of the Remodeling Industry (NARI).

The 2019 Remodeling Impact Report, an examination of 20 projects, surveyed Realtors, consumers who have completed home renovation projects and members of the National Association of the Remodeling Industry.

The report examined a variety of remodeling projects and used responses to rank the appeal of a given project, the value of the project in terms of resale and its overall functionality. The study also looked into the reasons for remodeling, the success of taking on the various projects and the increased happiness reported in the home upon completion of the job.

After completing a remodeling project:

  • 74% of owners have a greater desire to be in their home
  • 65% experience increased enjoyment
  • 77% feel a major sense of accomplishment
  • 58% report a feeling of happiness seeing completed projects
  • 38% say they have a feeling of satisfaction

NAR calculated a “Joy Score” for each project. The score is based on the happiness homeowners reported with their renovations – the more pleased with a given project, the better the Joy Score, with the highest possible score being 10.

Interior projects that received some of the higher Joy Scores are complete kitchen renovations, closet renovations, full interior and individual room paint jobs, kitchen upgrades and basement conversions to living areas. Exterior jobs with the highest Joy Scores were new fiberglass or steel front doors, new vinyl and wood windows and new roofing.

Kitchen renovation

A complete kitchen renovation received a top Joy Score of 10. Ninety-three percent of those polled said they have a greater desire to be at home since the completion of their kitchen, and 95% said they have an increased sense of enjoyment when at home.

The most important result of a kitchen renovation is improved functionality and livability, according to 46% of those polled. As to the reasons why they decided to take on the project, 24% say they wanted to upgrade worn-out surfaces and materials. Another 20% report they had recently moved into their home and had a desire to customize the kitchen to their particular tastes.

Closet renovation

Upgrading home closets was another task that received a 10 Joy Score. This is due in part to the inconvenience of a disorganized closet, which is something a homeowner encounters daily, often at the start of their day. When a closet renovation is finished, the sense of achievement is immediate. Thusly, 68% of those surveyed say they feel a major sense of accomplishment when they think about the completed project. Nearly three-quarters, 72%, report having a greater desire to be at home since finishing the job.

With a closet redesign, 56% say the most important result is better functionality and livability. Fifty-four percent say the top reason for doing the job was the need to improve organization and storage. Fifteen percent answered that it was time for a change.

Full interior paint job

Completing a full interior paint job in the home scored a 9.8 Joy Score. A finished paint job is usually visible in every room in a home, which speaks to how important a task this is to respondents.

A vast majority, 88%, say they have a greater desire to be home since having their home freshly painted. Eighty-six percent report feeling a major sense of accomplishment when they think of the project.

New fiberglass front door

The installation of fiberglass front doors is a highly rated exterior project, receiving a Joy Score of 9.7. Seventy-nine percent of polled homeowners say they have had a greater desire to be at home upon completion of the job. Sixty-seven percent say they have an increased sense of enjoyment when they are at home, and another 69% state that they feel a major sense of accomplishment when they think of the completed project.

New vinyl windows

New vinyl windows also received a very high Joy Score, 9.6, while 42% of those surveyed say the most important result is improved functionality and livability. As for the top reasons for doing the job, 47% say they had a desire to improve their home’s energy efficiency and 23% say they wanted to upgrade worn-out surfaces, finishes and materials.

Cost recovered

Remodelers often take on projects with resale in mind, rather than their own home preferences. The report found the top projects for recovering cost are new roofing, hardwood floor refinishing and new hardwood floor installation. NARI remodelers estimate that new roofing costs $7,500, and Realtors estimate that new roofing helps sellers recover $8,000, on average. That equates to 107% of value recovered from the project.

Also, NARI remodelers estimate that new wood flooring costs $4,700, with Realtors estimating the project helps sellers recover $5,000, or a 106% value recovery. NARI remodelers estimate that hardwood floor refinishing costs $2,600, and Realtors estimate that the hardwood floor refinishing would help sellers recover $2,600.

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 187,000 members in 51 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

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Most Boomers And Gen X-ers Don’t Plan To Downsize

Most Boomers And Gen X-ers Don’t Plan To Downsize

ORLANDO, Fla. – A majority of younger baby boomers and older Generation X-ers aren’t planning to downsize with their next move, according to a recent survey by MKM Partners Quantitative Survey Group, commissioned by Del Webb.

Of the 57% of survey respondents who plan to move in the future, 65% prefer their next home to be either the same size (43%) or larger (22%) than their current home.

A clear majority (71%) expects to need more space in their next home, and they prefer a single-family home; 63% say they want three or more bedrooms. For Gen X-ers, more space is not so much a luxury but a necessity: 29% of the 50-year-olds surveyed said they would design their next home to accommodate aging parents.

“Today’s 50- and 60-year-olds are active and looking ahead to their next move,” says 2019 Florida Realtors® President-Elect Barry Grooms, co-owner of Sarabay Suncoast Realty Inc. in Bradenton. “Research shows there are more than 140 million Generation X and Baby Boomers in the U.S., and many of them are planning for a future with different goals, but they still will be active in the housing market as they realize their new dreams.”

Contrary to some other forecasts, these older adults aren’t seeking urban locations. A significant percentage of those surveyed want to stay away from the city, with 87% preferring a suburban or rural setting. When asked for a preference, 60% said they wanted their next home to be a “quiet, tranquil place where they can slow down and get some peace.”

Inside the home, most respondents still prefer open floor plans, but a shift toward a more traditional layout may be brewing: 34% said they prefer more defined space to open concepts, and 60% of Gen Xers and 48% of baby boomers still want a dedicated dining room in their next home.

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 187,000 members in 51 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

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Moving With Kids: What Are Buyers Looking For?

Moving With Kids: What Are Buyers Looking For?

ORLANDO, Fla. – It seems parenthood adds another level of chaos to the homebuying process, according to the National Association of Realtors® (NAR) 2019 report, Moving With Kids. It explores the homebuying habits and seller preferences of people with children under the age of 18 years living in the home.

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What Do Buyers Want In A Smart Home?

What Do Buyers Want In A Smart Home?

ORLANDO, Fla. – Homebuyers are showing more interest in technological home features these days. For example, 46% of new and prospective homeowners say they want a security camera on the premises, according to the latest annual survey from the National Association of Home Builders’ (NAHB).

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Realtor® Nancy Klock Corey: Realtors Helping After Hurricanes

Realtor® Nancy Klock Corey: Realtors Helping After Hurricanes

Pictured are members of Coldwell Banker CORE (Culture of Real Estate), or CB CORE, a year-old group that offers help to people of different ethnicities who may be struggling to buy homes. Shown standing at center is Darrell Burks, chair of the southeast branch of CB CORE, with Donna Reid, seated at left, and Nancy Klock Corey, seated at right.

MIAMI BEACH, Fla. – When Hurricane Irma hit in 2017, Nancy Klock Corey, regional vice president of Coldwell Banker Residential Real Estate, Southeast Florida, in Miami Beach, learned some valuable lessons.

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Florida Realtor® Magazine Wins Top Awards

Florida Realtor® Magazine Wins Top Awards

Publication Honored for Design, Writing Excellence

ORLANDO, Fla., Sept. 23, 2019Florida Realtor, the Business Magazine of Florida Real Estate and monthly trade publication of Florida Realtors®, recently won seven awards in the 2019 Florida Magazine Association’s (FMA) competition.

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Fla.’s Housing Market: Median Prices, Pending Inventory Rise in August 2019

Fla.’s Housing Market: Median Prices, Pending Inventory Rise in August 2019

ORLANDO, Fla., Sept. 19, 2019 – Florida’s housing market reported rising median prices and more pending inventory in August compared to a year ago, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 27,107 last month, up 3.2% from August 2018.

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Venice Realtor® Wins Educator of Year Award

Venice Realtor® Wins Educator of Year Award

2019 Florida Realtors President Eric Sain presents Charles S. Bonamer, right, with the Educator of the Year Award during the recent convention and trade expo.

ORLANDO, Fla., Sept. 10, 2019 — Florida Realtors® has named Charles S. Bonamer, a member of the Venice Area Board of Realtors, as the winner of its Educator of the Year Award for 2019. The awards were presented during the state association’s recent annual Convention & Trade Expo at Rosen Shingle Creek in Orlando, Fla.

The Venice board recognized Bonamer as its Realtor of the Year in 1992; that same year, he was honored as the National Association of Realtors® (NAR) Instructor of the Year. He was awarded Realtor Emeritus status by NAR in 2013, and was also honored as NAR Instructor of the Year in 2016.

Bonamer’s courses have earned top ratings throughout the U.S., from Alaska to Puerto Rico. In addition to teaching education classes for local, state and national Realtor organizations, he’s also often been hired as an instructor by fair housing organizations.

He is a certified “One America” facilitator for NAR, as well as an instructor for Graduate, Realtor Institute (GRI), Instructor Training Institute (ITI) and “Train the Trainer” courses. Bonamer also is certified to teach the coveted Florida Realtors instructor training program, Learning Centered Instructor Workshop (LCIW).

A past president of the Florida Real Estate Educators Association, he has chaired his local association’s Professional Standards Committee, Grievance Committee and the Professional Development Committee. In fact, Bonamer trains many of the local Realtor organization’s Grievance and Professional Standards committees throughout Florida. He has chaired Florida Realtors Technology Committee and its Business and Technology Forum, and also conducted interboard-arbitration hearings.

Certified by NAR for both course writing and presentation skills, Bonamer’s articles appear in Communique, Real Estate Today, Issues and Trends, Real Estate Business, Florida Realtor® magazine and other publications.

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 187,000 members in 51 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

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Venice Realtor® Wins Educator of Year Award

Venice Realtor® Wins Educator of Year Award

Adam Vellano, left, accepts his 2019 Education Volunteer of the Year Award from Florida Realtors President Eric Sain at the recent convention and trade expo.

ORLANDO, Fla., Sept. 10, 2019 — Florida Realtors® has named Charles S. Bonamer, a member of the Venice Area Board of Realtors, as the winner of its Educator of the Year Award for 2019. The awards were presented during the state association’s recent annual Convention & Trade Expo at Rosen Shingle Creek in Orlando, Fla.

The Venice board recognized Bonamer as its Realtor of the Year in 1992; that same year, he was honored as the National Association of Realtors® (NAR) Instructor of the Year. He was awarded Realtor Emeritus status by NAR in 2013, and was also honored as NAR Instructor of the Year in 2016.

Bonamer’s courses have earned top ratings throughout the U.S., from Alaska to Puerto Rico. In addition to teaching education classes for local, state and national Realtor organizations, he’s also often been hired as an instructor by fair housing organizations.

He is a certified “One America” facilitator for NAR, as well as an instructor for Graduate, Realtor Institute (GRI), Instructor Training Institute (ITI) and “Train the Trainer” courses. Bonamer also is certified to teach the coveted Florida Realtors instructor training program, Learning Centered Instructor Workshop (LCIW).

A past president of the Florida Real Estate Educators Association, he has chaired his local association’s Professional Standards Committee, Grievance Committee and the Professional Development Committee. In fact, Bonamer trains many of the local Realtor organization’s Grievance and Professional Standards committees throughout Florida. He has chaired Florida Realtors Technology Committee and its Business and Technology Forum, and also conducted interboard-arbitration hearings.

Certified by NAR for both course writing and presentation skills, Bonamer’s articles appear in Communique, Real Estate Today, Issues and Trends, Real Estate Business, Florida Realtor® magazine and other publications.

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 187,000 members in 51 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.
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Clearwater Realtor® Wins Florida Realtors® First Spirit of Advocacy Award

Clearwater Realtor® Wins Florida Realtors® First Spirit of Advocacy Award

2019 Florida Realtors President Eric Sain presents the inaugural Spirit of Advocacy Award to Nancy J. Riley, 2007 president of Florida Realtors, during the state association’s convention in Orlando.

ORLANDO, Fla., Sept. 10, 2019 — Florida Realtors has recognized Nancy J. Riley, a member of the Pinellas Suncoast Association of Realtors and the 2007 president of the state association, as the first recipient of its new Spirit of Advocacy Award. The award was presented during the Florida Realtors’ recent annual Convention & Trade Expo at Rosen Shingle Creek in Orlando, Fla.

This new award honors a member of Florida Realtors who has demonstrated excellence in advocacy at the local board, state association, national association and community within the governmental or political arena over their lifetime. Monetary donations are not a consideration of the award.

Riley has an extensive resume of contributions to public policy issues, committees and advocacy at the local, state and national Realtor association levels. She has passionately been dedicated to advocacy throughout her life.

She has served her local Realtor associations in numerous capacities, including as the 1999 president of what was then the Greater Clearwater Association of Realtors (now part of the merged Pinellas Suncoast Association) and was honored as 2000 Realtor of the Year by the Greater Clearwater Association. In 2008, Florida Realtors recognized Riley as its Realtor of the Year.

She has been active with numerous community, social and political organizations. Riley was elected Republican State Committeewoman for Pinellas County in 2000 and has served in that role since then. She was a member of the Board of Directors of the Republican Party of Florida from 2001-2016. A graduate of the Leadership St. Pete Class of 1995, she was a voting delegate to the Republican National Convention in 2004, 2008, 2012 and 2016.

Three different Florida governors – Charlie Crist, Lawton Chiles and Robert “Bob” Martinez – appointed Riley to serve on state committees or task forces, including the Taxation & Budget Reform Committee, HOPE (Home Ownership Promotes the Economy) Task Force, Keep Florida Beautiful and the Tampa Bay National Estuary Committee. She is a past member of the St. Petersburg Charter Review Committee, St. Petersburg Baseball Task Force (to bring baseball to St. Pete) and the St. Petersburg Code Enforcement Task Force.

As Florida Realtors 2007 president, Riley once said, “The Florida Association of Realtors has built a foundation for a strong political presence in Tallahassee and in Washington, D.C. Our Realtor members can expect to see their state association resources committed to a broad spectrum of property rights and quality-of-life issues.”

Riley serves as a crusader for private property rights, a strong voice for engagement and investment, and boldly represents the real estate profession.

Florida Realtors® serves as the voice for real estate in Florida. It provides programs, services, continuing education, research and legislative representation to its 187,000 members in 51 boards/associations. Florida Realtors® Media Center website is available at http://media.floridarealtors.org.

 

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