Low-cost ways to remodel your bathroom

No money? No problem. You can change the entire look of your bathroom with just a few modifications and very little money.

By Diana Bocco | Yahoo Homes 

Are you tired of waking up to an outdated bathroom every morning, but can't afford to renovate it? Good news: You can change the entire look of your bathroom with just a few modifications and very little money.

Here are five renovation projects that will give your bathroom a whole new look - without emptying your wallet.

#1 - Bathtub Refacing

Refinishing an old bathtub can completely transform the look and impact of the room, says Rob Williams, a renovation expert and co-founder of DC Home Buzz, a real estate brokerage firm. 

"Old, chipped, dingy tubs can be transformed into something that's appealing and fresh without a large investment," Williams says. 

What makes bathtub refacing such a great project? Williams says the only other alternative to help change the look of your tub is to replace it. But that requires demolishing the old tub and tile, paying to have it hauled away and dumped, and then paying again for the new tub, tile materials, and installation. That could easily set you back over $1,000, according to Williams.

On the other hand, refinishing a tub could be just a few hundred dollars, depending on whether or not you want to do-it-yourself or hire a professional, according to Williams.

You could refinish a tub for less than $150 if you decide to do it yourself, but you might end up with an uneven job or hours spent trying to figure out the steps, Williams says. If you hire a professional, you'll spend between $300 to $400 on the project, but the job should be superior and finished at a faster pace, explains Williams.

#2 - Flooring Replacement

As the base of the bathroom, a floor replacement can make a huge impact to your bathroom, while making a low-impact dent to your wallet.

In fact, porcelain and travertine tiles can run as cheap as $1.83 per square foot at your local home improvement store, says Christopher Lowell,  an Emmy award winning home design expert. To make these cheap tiles appear high-end, Lowell recommends staying away from high-gloss finishes that can look cheap. 

"A good, even, matte finish that looks natural is always the best," Lowell explains.

And if you're thinking about installing the tiles yourself in order to save a few bucks, you may want to reconsider. According to Lowell, bathrooms are notorious for requiring a lot of cutting around fixtures and base cabinets - things that are best left to a floor expert, says Lowell. For a ballpark figure on how much professional help will cost, Lowell says he often doubles the price of the tile square footage.

As far as design is concerned, Lowell suggests avoiding strong colors, unusual textures, or anything that calls too much attention. Instead, he recommends going with something simple that fits every decor. That way, if you decide to remodel again or repaint later on, the floor will still match and you won't have to spend money on replacing it again, he says.

#3 - Updating Light Fixtures

Replacing bathroom light fixtures can help transform any bathroom space, according to eco-shui designer and creator of DesignLEAN, DeAnna Radaj. 

"Lighting fixtures are part of the 'bling' of the room and can really help uplift or detract from your design scheme," says Radaj.

If that's not enough reason to replace them, Radaj says newer, shinier fixtures also improve lighting and safety (after all, you'd like to see what you're doing when applying make-up or shaving, right?). Plus, Radaj says updating lighting is a perfect DIY project, as long as you have the proper tools for the job.

And this small renovation project isn't too pricey either.

"New fixtures can be found for under $50, making it one of the ultimate inexpensive upgrades," says Radaj. She does add, however, that prices do vary depending on materials and the scope of your renovation. 

#4 - Repainting of Refacing Bathroom Cabinets

If your bathroom cabinets are a standard size and the cabinets themselves are in good shape, you may want to consider refacing them as it's a much cheaper option than buying a completely new set of cabinets, Williams explains.

In fact, "Refacing is about 50 percent less expensive than replacing your cabinets and takes about half the time," according to Mike Goubran, owner of Carolina Custom Homes and Renovations in Rock Hill, South Carolina. 

In addition to being a budget-conscious renovation, Goubran adds that refacing, or replacing cabinet doors, is also a high-value remodel as it allows you to change the entire look of the room.

For an even cheaper option, Goubran says you can easily repaint your bathroom cabinets for $20 or less. But for the best results, it's important that the cabinets are in good shape, with no cracks or splits.

#5 - Updating Bath Fixtures

If your bathroom fixtures are more than a decade old, chances are they're dated, according to Lowell.

When it comes to shopping for fixtures, Lowell says you should think about it as shopping for jewelry.

"You can spend a ton on designer brands in upscale bath boutiques or you can replicate the perception of them at your local building supply store," Lowell says. What's important is that you choose fixtures that have an upscale spa look and feel like they actually belong in the room you're upgrading, he adds.

So what works for that upscale look on a budget?

Brushed nickel, antique bronze, pewter finished, or very good quality brushed chrome are better choices than inexpensive brass or porcelain that have the appearance of 'stamped out' decals on them, Lowell says.

"If it says more motel than hotel/spa, you're going in the wrong direction," Lowell adds.

When it comes to prices, Lowell says you can get a smart looking bathroom sink set for about $200.00 to $275.00 in good building stores with well merchandised bath departments.

Keller Williams, We are #1

5 DIY Projects That Can Devalue Your Home

by Francesca Clarke

Looking to sell in the near future? Make smart use of your time and resources to ensure you get the best return on your investment. Here are 5 pitfalls to avoid.

Getty Images

Shortly after we bought our first house, my husband and I found ourselves excitedly painting, overhauling the back yard and diving headfirst into all manner of projects. It was thrilling! 

Had I known we were going to sell two years later, though, I would have planned our DIY renovations more strategically -- and not acted so hastily. However much they may mean to you, all projects are not equal when it comes to the resale value of your home. 

if you're thinking of selling in the next five years, there are some very specific DIY projects that can undermine your investment. Professional realtor Jenn Foster gave us an insider's opinion of which home improvements projects are likely to backfire and decrease your home's value. 

Here are the top five home improvements to avoid if you plan on selling in the next five years:

One person's color fetish is another person's tacky taste. Photo: Corbis

1. Too Much Taste
We all have our own sense of style, right? Well, therein lies the problem. Though many of us see our home as the ultimate canvas (you should have seen the eye-popping blue we used to paint our kids' room), your specific taste can be a deterrent to potential buyers.
If you're planning to sell in the next few years, stick with neutral colors. This doesn't mean that you must abandon your own style, Jenn says, but reserve your love of fuchsia and leopard print to throw pillows, vases, lamps, and anything else that can be packed away before showing the house.

When picking paint, she tells us that, "The best rule of thumb is [to use] a neutral/monochromatic paint palette inside andout." Jenn emphasizes that this rule even applies to kids' rooms (oops!), where we often see the boldest and brightest color choices.

Avoid putting up wallpaper and borders if you're selling soon, too. According to Jenn, "Even the most stylish papers can turn off a potential buyer." As most DIYers know, removing wallpaper can be a grueling task. They'll likely factor that work into the price of the house. 

2. Budget-Friendly FixturesWhen you're trying to stick to a tight budget, it's tempting to cut corners by opting for less expensive materials. Scrimping on personal items like piece of furniture or electronics is one thing, but installing low-quality fixtures -- things that become a permanent part of the house, like flooring, countertops, cabinets, appliances, and plumbing fixtures -- is another thing entirely. It may have made sense at the time, but cheap fixtures will become a thorn in your side when you want to sell. 

Potential homeowners are on the lookout for attractive, high-quality fixtures, which are integral to the home's value. If you can't afford the most high-end material, though, Jenn tells us to choose mid-grade at the very least. This doesn't mean you shouldn't look for a great deal; in fact, it's a great incentive to hunt down overstock, wait for seasonal sales, or troll thrift stores for rare gems.

Ben Hussman, Flickr

3. Big Ticket ItemsMuch like cheap items can undermine your investment, so can overly lavish ones. Jenn warns against installing pools or other optional big-ticket items as they won't yield adequate return. Unless your buyer wants them specifically, they will be seen as a disadvantage. Even high-end versions of things you do need, like professional-grade ranges, mega-BTU built-in air conditioners, and hot tubs, which can be seen as unnecessary luxuries and energy zappers. 

Limit large jobs to those that update the mechanics and structure of the home, and if you're replacing big items, don't go over the top. Buyers will be looking for practical things -- a roof that is in good repair, efficient heating systems, and updated windows and cabinetry. This is where the bulk of your money should go. Jenn notes that it's worth thinking green too. Buyers typically support environmental choices and see the value in energy-conscious modifications and green building practices. 

Earlier this year, we reported on Remodeling Magazine's 22nd Annual Cost vs. Value Report, which rated the 33 most popular remodeling projects based on cost vs. resale value. For all you short-timers, it's worth checking out.

One more thing: Jenn cautions against expecting to increase the value of your home far above your neighbors'. She says that "no matter how much a homeowner spends on their renovations, one cannot expect to get significantly more than the average price of other homes in the same neighborhood."

Turning a bedroom into a game room can actually turn off a potential buyer. Photo: Corbis

4. Reinvention of Space
Many of us have repurposed rooms in our homes so that they better fit our personal needs. You may use the office as a play room or one of the bedrooms as a game room. Jenn tells us to "stage rooms to show their intended use for the duration of sale." She says that we should "never assume a buyer will inherently see the flexibility of a room. You must paint a clear picture for them to ensure top-dollar return." Needless to say, if you plan to sell soon, refrain from making permanent changes that detract from a space's original function. For example, converting a small bedroom into a second bathroom may be useful to you, but could be a deal-breaker to a potential buyer who would have preferred the house in its intended state.

The same rules are at play when laying out the yard, and these decisions are more permanent. Do not make any changes that limit how the space can be used. Jenn says that "when adding a deck, patio or landscaping features, always ensure you leave a healthy portion of the yard as a grassy area. An outdoor space should always offer all the uses a family looks for in a yard, such as outdoor dining, planting and playing for kids and pets."

5. Unfinished or Poorly Done DIY Work
Jenn advises homeowners to "do as much as you can yourself instead of paying trades, but never do work that you cannot be confident you can do well. This will devalue the home."

Sure, this is an obvious one, but it's important to remember at the outset of any project. Assess your skills and time realistically, not optimistically. You may be willing to live with a shed that isn't level or shelving that's been hacked together, but the potential buyer will immediately subtract poor workmanship from the value of the home, because they'll just have to do it over.

Jenn reminds us to "stay focused on completing one job at a time" and that we "should not start several [projects at once], as this can overwhelm you and decrease the probability of having them all done at the point of sale." In-progress DIY projects have the same effect, even if they're on track. Don't show your home until all projects are complete.

Ellen and Portia Sell Thousand Oaks Ranch

By: Neal J. Leitereg

Ellen DeGeneres and Portia de Rossi have sold their dreamy ranch in Thousand Oaks, CA. After showing a status of “looking for backup“ for the better part of a month, the Ventura County property has officially closed escrow.

DeGeneres and de Rossi bought the 26-acre property outside of Malibu in 2009 for $8.5 million and needed just one year to transform the rustic ranch into a Hidden Valley wonderland. From rural farmhouse to farm chic, the stylish ranch compound features eight contemporary cottages to go with luxe amenities that include a yoga pavilion, an art barn, a “romantic barn” and a tree house. The property also sports state-of-the-art equestrian facilities, including six double-sized stables, a dressage arena, turnouts, a hay barn and a tack room.

The celebrity ranch originally came to market 2011 for $16.5 million, where it spent nine months before being pulled. It returned to the market in July with a price tag of $10.995 million and received a price increase of $2 million in August. DeGeneres and de Rossi reportedly sold the 8-bedroom, 11-bathroom compound for $10.85 million, or $5.65 million less than the original asking price.

The sale is just the latest transaction by DeGeneres and de Rossi, who have provided plenty of real estate headline fodder over the years. The pair made a big splash in late 2011 when they quietly listed their Beverly Hills compound for a whopping $49 million and later sold that property to “American Idol” host Ryan Seacrest for $37 million. In March, the couple picked up Ellen’s next project, shelling out a reported $26.5 million for a 13-acre, Tuscan-style estate in Montecito.

Suzanne Perkins and Patrick Martin of Sotheby’s International Realty handled the listing. 

Foreclosure crisis is drawing to a close

By Les Christie  @CNNMoney

The number of new foreclosure filings fell to an eight-year low in August.

NEW YORK (CNNMoney)

Our long national foreclosure nightmare may be over.

The number of new foreclosure filings in August hit its lowest level in nearly eight years, according to RealtyTrac, an online marketer of foreclosed properties.

Soaring home prices and a big decline in underwater borrowers -- those who owe more on their mortgage loans than their homes are worth -- have helped drive the trend.

August's initial foreclosure filings fell 44% to 55,575, just below the 56,063 that were recorded in October 2005. The foreclosure crunch began in summer 2006, at about the same time that housing prices hit their peak.

Related: Best Places to Live -- most affordable

"This is a strong indicator that the crisis is over," said Daren Blomquist, vice president at RealtyTrac. "The foreclosure floodwaters have receded in most parts of the country, although lenders and communities continue to clean up the damage left behind," he added.

The mopping-up process continues, however. In August, for example, the number of homes repossessed by lenders rose 6%, compared with July, to 39,277. But that still represents a drop of 25% year-over-year, and is more than 60% below the peak of repossessions in September, 2010.

The state with the highest rate of foreclosure filings was Nevada, with one for every 359 homes. According to Blomquist, many of those filings had been delayed by recent state legislation there that required lenders to redo their paperwork.

In Florida, one of every 383 homes had some kind of filing, the second highest rate among states. Ohio, Delaware and Maryland filled out the top five.

Florida cities accounted for six of the 10 hardest hit metro areas. Port St. Lucie topped the list, with a filing for one out of every 201 homes. Jacksonville, Miami and Ocala were also hard hit. Las Vegas reported the third highest rate and three Ohio cities -- Toledo, Cleveland and Akron -- also made the top 10 list.

Before You Paint a Room, Here’s Some Must-Do Prep Work

By Melissa Dittmann Tracey, REALTOR(R) Magazine

Photo credit: Paint Quality Institute

Painting can dramatically change the look of a space, enhancing its aesthetics and possibly even making it look more spacious. Painting is one of the most popular do-it-yourself jobs of home owners, and while it’s one of the easiest too, there is an art to painting.

The Paint Quality Institute offers up some of the following tips in prepping the walls to make sure a home owner’s paint job doesn’t end up looking like an unprofessional DIY job:

–Repair surface imperfections. Use a spackling compound to fill any cracks or holes so that the surface is smooth before you start painting. You can use a stain-blocking primer to repair any areas that have water stains or discoloration, according to the Paint Quality Institute.

–Clean the walls. Before you start painting, wash the walls and woodwork with a detergent-water solution. Rinse the surfaces and let them dry completely.

–Choose your paint carefully. “Top quality 100 percent acrylic latex paints resist spattering, tend to conceal brush marks, and do a better job of hiding the color underneath,” according to the Paint Quality Institute. “They also are tougher and more durable, with better long-term resistance to fading, yellowing, and staining.”

Also, home owners will want to carefully choose the sheen and gloss level of their paint. In general, the higher the gloss on a paint, the easier the paint will be to clean. High-gloss finishes, therefore, tend to be a popular choice in bathrooms and high-traffic areas. The highest gloss paints may be best reserved for entry doors and a home’s trim.

The downside to high gloss paint is that it can highlight imperfections in a wall. It’s highly reflective so it can makes any flaws much more noticeable.

On the opposite side of the spectrum from gloss are flat paints. These are non-reflective so it can make minor imperfections in walls less noticeable and make walls appear more smooth. They are often popular choices for ceilings or surfaces that a home owner may want to downplay. The big negative to flat paints: They’re not easy to clean and any dirt can easily become trapped in it.

These are the most popular sheen level choices on paint — from highest sheen to lowest: Gloss, semigloss, satin, eggshell, and then flat or matte.

–Use high-quality brushes and rollers. Not all paint brushes are the same. The best brushes tend to have tightly packed bristles, which will help them hold more paint on it. The Paint Quality Institute recommends using brushes and rollers with synthetic bristles and covers when applying latex, water-based paints. These types of brushes and rollers are more likely to maintain their shape, regardless of how much water they get on them.

–Get straight edges. Using “painters tape” may be a good idea in order to make sure you stay inside the lines. You can use tape to mask off areas to also ensure you get a straight line when painting. Take your time taping, however. Also, be sure to press the tape down firmly so no paint can creep in underneath the tape. Once the paint is dried, peel the tape away immediately.

Declining Distressed Sales

On September 9, 2013, in Economic Updates, by Lawrence Yun, Chief Economist

• Distressed property sales reached a new cyclical low in the past two months. Only 15 percent of all transactions were classified as being due to a foreclosure or needing a short-sale approval from a bank. This is a marked change from nearly one-third of all sales being distressed from 2008 to 2011. Last year, the figure decreased to 26 percent. This year, it is likely to hit 17 percent for the entire year.
• Better news yet – distressed sales will hit 11 to 13 percent in 2014, and then fall to a single-digit percentage in 2015. Why? The number of seriously delinquent mortgages in the pipeline has been steadily falling. With fewer in the pipeline, fewer distressed properties will show up as for-sale. Fewer distressed home sales also mean higher home prices. Higher prices in turn mean more people getting lifted out of the underwater status and hence will not face a distressed situation.