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10126 Reseda Blvd #125, Northridge, CA 91324 5 Reasons Why Homeownership Is a Good Financial Investment

The California Housing Crisis, There Is Not Enough For Sale?

Chris B Johnson, REALTOR®, SFR®, CDPE®, CHS®

Chris B Johnson, REALTOR®

The California Housing Crisis, There Is Not Enough For Sale?

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Chris B Johnson, REALTOR®               Featured Listing                   Time to Sell Your Home?   Mortgage Pre Approval           Neighborhood Market Report          Time To Buy A HomeSelling Your Home This Summer                                      Buying A Home This Summer In the Los Angele...

07/05/2016

Ventura County Home Sales at Highest Pace in 9 Years?

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Chris B Johnson, REALTOR®               Featured Listing                   Time to Sell Your Home?   Mortgage Pre Approval           Neighborhood Market Report          Time To Buy A HomeSelling Your Home This Summer                                      Buying A Home This Summer Some Highlights: ...

07/05/2016

Happy 4th of July Ventura County #ChrisBJohnsonRealtor

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Chris B Johnson, REALTOR®, SFR®, CDPE®, CHS®     Featured Listing                   Time to Sell Your Home?   Mortgage Pre Approval           Neighborhood Market Report          Time To Buy A HomeSelling Your Home This Summer                                      Buying A Home This Summer

07/04/2016

Homes For Sale in Moorpark #ChrisBJohnsonRealtor

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Chris B Johnson, REALTOR®, SFR®, CDPE®, CHS® Selling Your Home This Summer                                      Buying A Home This Summer View Photos 4202 GRANADILLA Drive Moorpark, CA 93021 $625,000 4 bds 2 ba 1770 sq ft Status: Back Up Offer Listing #: 216004318 Inviting red brick grand entry l...

07/03/2016

Ventura County Home Owners July To Do List #ChrisBJohnsonRealtor

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Chris B Johnson, REALTOR®, SFR®, CDPE®, CHS®             Featured Listing                   Time to Sell Your Home?   Mortgage Pre Approval           Neighborhood Market Report          Time To Buy A HomeSelling Your Home This Summer                                      Buying A Home This SummerC...

07/02/2016

Interest Rates Are Doing Down, So Ventura Home Prices Are Gong Up?

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Chris B Johnson, REALTOR® Weekly Mortgage Rate Update The British vote to exit the European Union remained the primary influence on U.S. financial markets over the past week. U.S. stocks have recovered their losses, while mortgage rates have continued to improve. As a result, mortgage rates ended...

07/02/2016

Ventura County Real Estate Market Update #ChrisBJohnsonRealtor

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Chris B Johnson, REALTOR®               Featured Listing                   Time to Sell Your Home?   Mortgage Pre Approval           Neighborhood Market Report          Time To Buy A HomeSelling Your Home This Summer                                      Buying A Home This Summer Your home is prob...

07/01/2016

"Free College" and "Free Health Care" The Results Are In!

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Chris B Johnson, REALTOR®               Featured Listing                   Time to Sell Your Home?   Mortgage Pre Approval           Neighborhood Market Report          Time To Buy A HomeSelling Your Home This Summer                                      Buying A Home This Summer It could be said ...

07/01/2016

Northern California Real Estate (and some of SoCal) Is Still Hot!

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The overall residential housing market is heating up this summer, but a markets in a few cities across the country are in a league of their own, notes Jonathan Smoke, realtor.com®’s chief economist. Read more: Existing-Home Sales at Highest Pace in 9 Years Realtor.com®’s research team identified ...

06/30/2016

Hot or Not? What Is The Status Of Ventura County's Real Estate Market?

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HyperLocal UpdatesChris B Johnson, REALTOR®               Featured Listing                   Time to Sell Your Home?    What makes a hot housing market? Every day there’s a new news story with a list of top performing cities — but do these cities really reflect what is going on in the real estate...

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Chris B Johnson, Allison James Estates & Homes Elite / BRE #: 01501699 Chris B Johnson Realtor, 587 W Los Angeles Avenue, Moorpark, CA 93021 (w) 805.208.0823 (c) 805.208.0823 Email Me Visit My Website

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It’s official: The programmable thermostat is the VCR of our day. Why? We think they’re too complicated. According to a study by the Lawrence Berkeley National Lab, nearly 90% of Americans say t... CHECK OUT MORE

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Accidents happen at home: A visitor trips on your front steps, or a neighbor cleaning your gutters falls off a ladder. As the property owner, you can be held legally liable. Standard homeowners insura... CHECK OUT MORE

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Moorpark Country Club Estates and Moorpark Highlands Luxury Home Specialist #ChrisBJohnsonRealtor May 2016 Newsletter Housing Trends eNewsletter

Chris B Johnson, REALTOR® May 2016 Newsletter Housing Trends eNewsletter

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau and Realtor.org reports, videos, key market indicators and real estate sales statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.

 Please click here to view the May 2016 Newsletter Housing Trends eNewsletter. If you are interested in determining the value of your home, click the Home Evaluator link for a free evaluation report.

Camarillo Bank Owned Home for Sale 312 Appletree Avenue, Camarillo, CA

Chris B Johnson, REALTOR®

How Much Does a Remodel Cost, and How Long Does It Take?

The 2016 Houzz & Home survey asked 120,000 Houzzers about their renovation projects. Here’s what they said

Chris B Johnson, REALTOR®     HyperLocal Updates   Sell, Remodel, Repair-Have Tough Questions?

If you’re looking for a sense of how much it will cost to renovate your home, and how long it might take, we’ve got some numbers for you. The 2016 Houzz & Home annual survey gathered information from more than 120,000 registered users of Houzz, including more than 70,000 who renovated in 2015. Their responses provide insight into how your own renovation project might play out.

Janet Paik

Be Prepared

High renovation costs can be surprising for first-timers. After all, it’s easy to fall in love with photos of a high-end kitchen or Sub-Zero appliances when you don’t have to pay for them. “A lot of times people have grandiose ideas or pictures of things that they’ve seen — it looks great but doesn’t fit their budget,” says Brandon Quinton of Cameo Homes in Salt Lake City. “Everyone is drawn to the most expensive stuff. Everyone has got expensive taste; they just don’t know.”

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Your accounting professor (or a parent or grandparent) may have told you that it’s important to have, and stick to, a budget. If you find that challenging, don’t feel too bad. A whopping one-third of renovators surveyed began their projects without setting a budget at all. 

Did they pay dearly for that? Surprisingly, no. Owners who started with no initial budget actually spent less, by about $8,000, than those who had a budget and stuck with it. It could be that the budget-avoiders were doing DIY projects, renovating over time or taking on lower-cost projects overall.

As for those homeowners who exceeded their budget, well, they spent twice as much as those who had no budget at all. And they probably had some gorgeous results for their big spend. Notably, only a tiny fraction of renovators came in under budget.

Why do people go over budget? Often because they have nice taste. As this chart shows, nearly half of the people who went over budget in their renovations said they decided to buy more expensive materials and products than initially planned, while about one-third decided to change the scope of their project.

How Much Will This Cost Me?

So how much does a renovation cost overall? Obviously, the total cost will depend on the project’s scope, the materials selected and the fees of the professionals hired to do the job. Owners who completed our survey spent an average of $59,800 on renovation projects. Keep in mind that this figure is an average for all types of projects, including basement remodels and full kitchen gut jobs. Each project is unique, and the average renovation spend figure is not intended to be the norm for every project. 

That said, the averages do provide some interesting guideposts. Notably, recent home buyers spent twice as much as people getting ready to sell. “Recent home buyers tend to do more, spend more and are more likely to hire professionals to help with their renovation project than other homeowners,” says Nino Sitchinava, principal economist at Houzz.

Renovation spending also correlated with age (and presumably savings): Homeowners 55 and older spent an average of $73,300, those 35 to 54 years old spent an average of $52,100, and those ages 25 to 34 spent an average of just $24,500.

Where Does the Money Go?

Kitchens, bathrooms and living or family rooms are more likely to be renovated than any other room, according to the survey. The kitchen gets the most attention: Nearly one-third of all renovators remodeled the heart of their home, and more than 40 percent of recent home buyers did. Bathrooms are right behind in popularity, as this chart shows.

Homeowners spent an average of 12 percent more to remodel a kitchen in 2015 than they did in 2014, as more shifted to broader-scale projects. A major kitchen overhaul, which includes at least replacing all the cabinets and appliances, cost about three times as much as a minor kitchen renovation.

In addition to redoing interior spaces, many home buyers who are renovating update core functions like plumbing and electrical systems, home automation, heating and cooling, as shown here. This isn’t the glamorous stuff, but it sure makes a home run more efficiently.

The average spend on master bathrooms also grew 12 percent year over year, as more homeowners replaced at least the cabinetry or vanity, the toilet and the countertops. Getting a pro involved in a major bathroom overhaul (or a kitchen renovation, for that matter) raised the cost by about 44 percent. Nonetheless, 85 percent of renovators hired pros for help with their projects. Most of us need the help!

Another factor in renovation costs: home size. We sliced the data to assess project spend by the home’s square footage. Not surprisingly, owners of larger homes spend more.

How Are Remodels Funded? 

Given the costs of renovation, it may be surprising to learn that the overwhelming majority of renovators surveyed used savings or personal finances to pay for their projects. The youngest group of homeowners relied on credit cards far more than those over age 55.

How Long Will a Renovation Project Take?

When owners finally embark on a renovation, those projects do take time. And typically, the construction phase is only about one-third of the time for the total renovation process, including the planning phase. 

This chart shows the average time in months it takes for popular renovation projects. Kitchens take the longest, at around five months, while closets are the shortest project, at about two and a half months.

Why Remodel Now? 

As the American economy has improved, owner motivations for renovating have begun to subtly shift. In 2015, slightly more respondents said their trigger was finally having the time, compared with those who said the trigger was finally having the money. Though clearly both factors are important, it’s a switch from 2014, as this chart shows, when more people cited finally having the finances than finally having the time as their renovation trigger.

Notably, the No. 1 reason people decided to renovate instead of buy was a desire to stay in their current home or on their current lot or land, according to the Houzz & Home survey. Forty-nine percent of survey respondents who renovated cited this as a reason. Twenty-eight percent said that renovating was more affordable than buying a different home.

Desire to stay in place increased with age: 26 percent of millennials (ages 25 to 34) wanted to stay in place, while 45 percent of Gen Xers (35 to 54) and 56 percent of baby boomers (55-plus) did. The data aligns with other noted trends: People aren’t trading up in housing, according to real estate data site Redfin. In 2001, the median amount of time a homeowner stayed in a home was four years. By last year, that had risen to a median of nine and a half years.

Of course, many Houzzers renovate due to outdated design.

See the full 2016 Houzz & Home report

Your turn: We’d love to hear about your project and how much it cost. Please tell us the details in the Comments section.

More: Data Watch: Home Renovation Professionals Bullish on 2016

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