Snap shot of the National Market...

This latest news comes straight from Realtor Magazine, Januaury 2009:

"After falling for two years in a row, sales of existing homes are expected to edge up 6% in 2009 to 5.3 million. Even with an increase in unemployment, improved affordability is the reason.

Meanwhile, new-home sales, already off more than 50 percent from their peak of 1 million in the third quarter 0f 2006, are expected to continue dropping, to about 413,000 in 2009.

[Home] Prices have dropped nationally about 12 percent from their peak in 2006, from a national median of $221,900 to 198,600. In some of the markets that were hottest during the boom, prices have dropped even more, as much as 30 percent in Los Angeles and 24 percent in Las Vegas. The drop has made life tough for sellers with little equity in their homes: Some 40 percent of sales in the third quarter of 2008 were distressed sales, either short sales or foreclosures, accordingt o NAR data.

For 2009, prices are expected to turn a corner."

How Many Years Should My Stuff Last?

Replacing items like windows, appliances and roofing can be quite spendy. So how long should you expect these updates and improvements to last?

30-50 years
Thermostats: 35 years
Wooden windows: 30 years
Wood shake roofs: 30 years
French interior doors: 30-50 years

10-20 years
Aluminum windows: 15-20 years
Asphalt shingle roofs: 20 years
Dryers and Refrigerators: 13 years
Air conditioning units: 10-15 years
Furnaces: 15-20 years
Interior and exterior paints: 15+ years

5-10 years
Heat and smoke detectors: 5-10 years
Dishwashers: 9 years
Microwave ovens: 9 years
Carpet: 8-10 years

Owners can use this information to decide whether or not to replace something before a move... or just in the normal year to year ownership.

Additionally, buyers can factor these "life spans" in as they contemplate the ownership costs of the home in upcoming years.

Please note that all figures were taken from Realtor Magazinem February 2009, and useful life of all items depends on maintenance, use, quality, and exposure to climate.

Top Five Kitchen and Bath Features Buyers Want Most

Have you ever wondered what features home buyers are looking for? Are you considering a remodel and want to know where to get the most bang for your buck? Here is the list on what to invest in so that you please the most buyers!

36% want a separate shower enclosure in the master bath
31% want an eat-in Kitchen
24% want high-end appliances
23% want granite countertops
21% want a kitchen island

So if you are considering a remodel or were just curious, consider yourself informed!

*These percentages were reported by Realtor Magazine based on the National Association of Realtors 2007 Profile of Buyer's Home Feature Preferences.