Remodeling Real Estate
By: Wes Wallace
CAPE GIRARDEAU, Mo. - With a sluggish housing market and skyrocketing numbers of foreclosures, many people trying to sell their homes are having a rough go of things.
"It's time to remodel," said Shari Stroup. "The house has been on the market for over a year, and we decided we need some renovations."
The Stroup's lived in the home for 10 years, and while there's nothing visibly wrong with the house inside or out, Shari says it's just not up to what people are looking for in today's housing market.
While many people are remodeling to sell, others are making the same investment because they can't afford to buy a new home.
"You'd see that several years ago, when interest rates were much lower," said Claude Swain, owner of Kitchen's & More. "Now you've got two different things going on. People who bought years ago and want to update or remodel, and then there's the new housing market."