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The Remodeling
Magazine's Annual Report:2008 Cost vs. Value Report
*** National
Averages***
Why
Renovation Pays:
Why are renovations holding
their value better than home prices today? When
housing slows down, people stay put and renovate their house to make it
more
livable and by renovating before they sell, home owners get to enjoy
the new
space themselves, not just make the home more appealing to buyers.
NATIONAL ASSOCIATION OF REALTORS® statistics show that home prices
have
fallen by an average of 7 percent nationally in the past year. But the
value of home owners’ investment in remodeling projects has declined
only 3.86 percent on average between 2007 and 2008, according to Remodeling’s
2008–2009 Cost vs. Value Report
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