This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Moving Out And Sprucing Up

Americans are on the move, according to the latest American Express Spending & Saving Tracker. Fifteen percent of Americans, or approximately 35 million people, expect to move in 2013, a 50% increase from last year. Of these, 43% plan to purchase a new home, condo or apartment, while 47% will rent. Moving or not, the vast majority (72%) of Americans have at least one home improvement project on their to-do list this year, expecting to spend an average of $4,000.

Visit here for the full report and past Spending & Saving Tracker surveys.

A Seller’s Market

Overall, homeowners are more optimistic about the real estate market, with 57% feeling confident they could sell their home for their asking price today, a 36% increase from 2012.

Nearly half of consumers (45%) think the best time to buy is within the next six months. To speed up the process, most homeowners (70%) say they’re willing to make certain concessions to sweeten the home buying deal, a trend that’s increased 13% since 2011. Concessions include: throwing in appliances (46%), making requested repairs (32%) as well as paying closing costs (18%, up 64% since 2011).

Before concessions can be agreed upon, sellers will woo potential buyers by putting their house’s “best foot” forward. The most important fixes and upgrades according to consumers include: making small repairs, like leaky faucets and damaged plaster (69%), organizing and de-cluttering (66%), painting (63%), improving landscaping (49%), updating of bathrooms (33%), replacing out-of-date appliances (24%) and hiring professionals to stage or clean (23%).

Not everyone is packing up and moving; 25% of Americans are looking to take advantage of low interest rates to re-finance. Among them, 38% will use their refinancing savings to pay down debt and bills, 23% will put the extra cash in a piggy bank and 12% will put the money towards home improvement projects.

Stock quotes in this article: AXP 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs