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3 Reasons to Take the Cost vs. Value Survey

RM_CostvValue_Long__2014

Today, REALTORS® in 103 metro areas received an e-mail asking them to participate in this year’s Cost vs. Value survey. The results will be used in the 2015 Cost vs. Value Report, which provides metro-specific cost estimates and resale values for 36 remodeling projects – from siding replacement to a major upscale kitchen remodel.

It takes time to complete — I’d estimate 15-20 minutes if you’re carefully considering the value of each project — but I urge you to take the survey if you live in one of the metro areas covered. Here’s why:

  1. The survey is a great opportunity to demonstrate real insights from REALTORS®. The Cost vs. Value report is recognized and widely quoted by media outlets around the country. Today, there are websites galore trying to attract the attention of people who are thinking about remodeling. The survey enables REALTORS® to demonstrate the knowledge that comes from being immersed in the market every day.
  2. We need your participation in order to include your market in the report. Although recent studies have downplayed the importance of high survey response rates, we would like to have at least 100 responses in each of metro area covered. If we don’t get enough responses in your area, we can’t include your market in the report.
  3. You could win a $500 gift card. REALTORS® who are eligible, who complete the current Cost vs. Value survey on or before midnight October 15, 2014, and who provide complete registration information will be entered in a drawing. Four grand prizes of $500 each will be awarded. Read the official rules.

Every remodel is different. The character of the neighborhood, the existing condition of the home, the quality of the materials and work, the “competition,” and general market conditions all play a factor in determining the value of a remodeling job. But the Cost vs. Value Report is a great conversation starter for reaching out to prospects, it’s a tool buyers can use as they compare homes for sale, and it’s a resource for your clients who are considering how to get their home ready for a sale in three to five years.

If you’re ready to take the survey, here’s a link: http://www.specpan.com/costvalue

Before you start, you’ll be asked for an email address. This ensures that you’re entered into the prize drawing and enables you to save and resume a survey that you don’t complete in one sitting. Your information won’t be shared with any organizations or parties other than those responsible for the production of the 2015 Cost vs. Value Report.

Here are the 103 markets we’re surveying:

  •  Akron, OH
  • Albany, NY
  • Albuquerque, NM
  • Allentown, PA
  • Atlanta, GA
  • Augusta, GA
  • Austin, TX
  • Bakersfield, CA
  • Baltimore, MD
  • Baton Rouge, LA
  • Birmingham, AL
  • Boise, ID
  • Boston, MA
  • Bridgeport, CT
  • Buffalo, NY
  • Chapel Hill, NC
  • Charleston, SC
  • Charlotte, NC
  • Chattanooga, TN
  • Chicago, IL
  • Cincinnati, OH
  • Cleveland, OH
  • Colorado Springs,
  • CO
  • Columbia, SC
  • Columbus, OHDallas, TX
  • Dayton, OH
  • Daytona Beach, FL
  • Denver, CO
  • Des Moines, IA
  • Detroit, MI
  • El Paso, TX
  • Fort Myers, FL
  • Fresno, CA
  • Grand Rapids, MI
  • Greenville, SC
  • Greensboro, NC
  • Harrisburg, PA
  • Hartford, CT
  • Honolulu, HI
  • Houston, TX
  • Indianapolis, IN
  • Jackson, MS
  • Jacksonville, FL
  • Kansas City, MO
  • Knoxville, TN
  • Lancaster, PA
  • Las Vegas, NV
  • Little Rock, AR
  • Los Angeles, CA
  • Louisville, KY
  • Madison, WI
  • McAllen, TX
  • Memphis, TN
  • Miami, FL
  • Milwaukee, WI
  • Minneapolis, MN
  • Nashville, TN
  • New Haven, CT
  • New Orleans, LA
  • New York, NY
  • Ogden, UT
  • Oklahoma City, OK
  • Omaha, NE
  • Orlando, FL
  • Philadelphia, PA
  • Phoenix, AZ
  • Pittsburgh, PA
  • Portland, ME
  • Portland, OR
  • Providence, RI
  • Raleigh, NC
  • Richmond, VA
  • Riverside, CA
  • Rochester, NY
  • Sacramento, CA
  • Salt Lake City, UT
  • San Antonio, TX
  • San Diego, CA
  • San Francisco, CA
  • San Jose, CA
  • Santa Rosa, CA
  • Sarasota, FL
  • Scranton, PA
  • Seattle, WA
  • Spokane, WA
  • Springfield, MA
  • St. Louis, MO
  • Stockton, CA
  • Syracuse, NY
  • Tampa, FL
  • Titusville, FL
  • Toledo, OH
  • Tucson, AZ
  • Tulsa, OK
  • Ventura, CA
  • Virginia Beach, VA
  • Washington, DC
  • Wichita, KS
  • Winston-Salem, NC
  • Winter Haven, FL
  • Worcester, MA
  • Youngstown, OH

Cost vs. Value is a registered trademark of Hanley Wood LLC. Questions about the survey? Post your comments and questions here, or send an email to cost-value@hanley-wood.com.

 

Stacey Moncrieff

Stacey is vice president of business-to-business communications for the National Association of REALTORS®, overseeing the association's key communications with NAR members and REALTOR® association executives.

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