Author: tpetcu

January
tpetcu

Key numbers from a new NAHB survey

Full basements may be on the decline in new builds across the country‚ but here in New England they remain a popular feature. The numbers from a recent National Association of Home Builders survey1:

  • Building codes in colder areas often require foundations to be built below the frost line—hence the high share of full basements among new builds in the West North Central (81.8%) and New England (69.5%).
  • Of new single-family homes constructed nationwide, 60.1% were built on slab foundations. Full or partial basements were found in 24.3% of new homes followed by 14.3% with a crawl space.
  • Back in 2000‚ the advantage held by slabs over basements was much narrower: 46.0% to 36.8%.

I hope you find this market data to be helpful.

1Na Zhao‚ “Basements continue to fall out of favor‚” Eye on Housing Blog‚ last updated December 9‚ 2019.

December
tpetcu

Wishing you a happy holiday season

During this special time of year‚ I want to express my gratitude for our relationship. My success is the result of strong partnerships such as ours.

Here’s wishing you and your loved ones a holiday season filled with peace‚ love‚ and joy.

Uncategorized
tpetcu

Bay State solar users match national savings

With winter’s chill setting in‚ solar power’s benefits may be the last thing on Massachusetts residents’ minds. However‚ new data from home energy company Sense may have homeowners considering a solar installation.

  • Bay State solar users save an average of 67% on their energy bills (working out to $1‚075 annually)—matching the national mark.1 Some Bay State electrical utilities also offer “net metering‚” which pays back users for power generated.
  • One surprising advantage in the Northeast: Cooler weather allows solar panels to run more efficiently.
  • Homeowners in New Hampshire (offset 76% of their utility bill) and Vermont (70%) especially benefit from solar‚ topping sun-drenched Arizona (66%).

For more information‚ visit Mass.gov.

1“Will solar save you money? Sense data reveals that potential savings depend on where and how you live‚” PR Newswire‚ last updated November 5‚ 2019.

December
tpetcu

A guide to renovation cost & return on investment

The National Association of REALTORS® and the National Association of the Remodeling Industry teamed up to calculate the estimated cost and return on investment for home remodeling projects. Share these numbers with renovating clients1:

  • Full kitchen renovation: cost estimate‚ $68‚000; estimated cost recovered‚ $40‚000; percent of value recovered‚ 59%.
  • New wood flooring: cost estimate, $4‚700; estimated cost recovered‚ $5‚000; percent of value recovered‚ 106%.
  • New garage door: cost estimate‚ $2‚100; estimated cost recovered‚ $2‚000; percent of value recovered‚ 95%.
  • New vinyl windows: cost estimate‚ $22‚500; estimated cost recovered‚ $16‚000; percent of value recovered‚ 71%.

As always‚ it is a pleasure staying in touch.

1Timothy Inklebarger‚ “Renovation return quick guide‚” Boston Agent Magazine‚ last updated October 10‚ 2019.