Granite Kitchens and Baths, OH MY?? or OH NO???

In 2004 my friend found a good deal on a 10 yr old house that "needed some updating", okay cool no problem, by the house get a line at Home Depot and start doing some weekend handy man stuff and updating to sell in five years for a good profit. So with sound advice he started where, ________ and _________? You guessed it KITCHEN and BATHROOMS, because why? Because that's what brings the biggest return on investment. In recent years it has been well know that you can 1)Make your house much easier to sell and 2)Re-coup your invest in these rooms to the tune of 80% or better.

Well, with the HUGE inventory of houses out there, either bank owned or people trying to get out from underneath them, that staggering number may not be such a good investment. A recent study suggests that purchasers ability to shop, and the fact they the media has officially scared people enough to "Not get in over their heads" they are looking for the best bargin priced home, bottom line, no questions asked, this is their priority NUMERO UNO !!! Updating these days with granite and all the bells and whistles is only pulling 55% - 60%.

Simply put, if you are in this situation just be frugal and don't go overboard. Make it look clean and new but I wouldn't spring for the "Imported Italian, gold-leafed stamped, self cookie-making, granite counter top" that Fritzy and Ditzy, your Gucci wearing, overspending, 90% (debt-to-income) neighbors did 2 years ago just to make their house look good for the block party that she decided to host.

Anyway, now that I am off my FUN soapbox for the day, I have been getting a couple comments latly that I have really enjoyed so keep them coming.

Talk to you all soon

Mortgage Insight Specialist
Prosperity Financial
http://www.colomortgages.com/
303.666.6550
matt@myprosperityfinancial.com



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