Buyers can be equally fickle. Walking through prospective new residences, they are dismayed at one place because of its color scheme. At another they become troubled by "lack of upkeep" where the seller figured, "They're just gonna repaint the place anyhow."

So, what really works?

Actually, it depends upon who you are. If you're empty nesters looking for smaller digs, then your approach will go one way. If you're a young couple looking to move up, then you should take another. And if you're the handy types who want to buy low, fix up, and sell high, you'll take a third approach.

But there are some commonalities for all situations.

• Repaint and landscape the exterior. First impressions are everything!
• Patch all interior walls and paint them an off-white.
• Refinish or repaint all doors.
• Unclutter all rooms. If you tend to "stuff" your rooms with furniture, put some into temporary storage. This makes your rooms appear larger.
• Remove personal photos from walls, shelves and mantels. Let the prospective buyers visualize their family in your place.
• Invest in professional house cleaners to go over your place from top to bottom.
• Don't expect to "get extra" for having recently replaced the roof or the furnace or the hot water heater. These are normal mainten- ance items. You might, however, consider not replacing these sorts of things if they are passable.
• Remember, the value of your home is based more on the value of the homes around it than on the value of any renovations you might make.
• Be prepared to compromise.

Those things said, what projects return positive results?

According to Bob Vila, "Generally speaking, the highest paybacks come from adding features to older homes that have become standard in new houses -- a family room, master bedroom/bath suite, and the like."

He also says that the highest payback remodeling projects are kitchen improvements and bathroom additions/make-overs.

These are not inexpensive efforts but they will probably return your full investment if you sell soon afterwards. And they're much more likely to get your home sold than installing that 3-foot converted brewing-vat fireplace/bar-be-que separating your kitchen and family room that you've always wanted.

If you're in a hurry to sell but homes aren't selling quickly in your area, installing central air conditioning and replacing windows (especially in tract homes) may spur buyers along. Fancy carpeting, vaulted ceilings, and swimming pools may add value but perhaps not to your selling price.

Another plus in the marketplace is refinished or new hardwood floors. Along with upgrading kitchens and bathrooms, skylights over common areas on the north side of your home may repay their expense and increase the chance of selling your home sooner.

The average nation-wide return (after financing the project and re-sale of the home) for various home improvement projects are:

• Never contract with a company that has solicited your business by phone or door-to-door calling.
• Get at least three bids. Avoid very low bidders since their work quality will probably equal their price.
• Check references and the Better Business Bureau.
• Clarify guarantees and warranties: get these and all contractual matters in writing before the work begins.
• Never pay in cash; try to pay by credit card and never before the work has begun.
• Obtain a copy of the contractor's liability insurance coverage limits, policy number and providing company.

What Do Buyers Look For?

New Homes Map Guide says school district ratings heads this list followed closely by resale prices in the surrounding neighborhood and the area's crime rate. Around the middle of their list are the commute times to their places of employment and potential changes in the surrounding land's uses. Buyers also consider the proximity of their new homes to grocery stores, daycare and local services as well as to parks and transportation. In the middle of their list is the general condition of the neighborhood and its character.

Homes in neighborhoods where the infrastructure (condition of roads and streets, sidewalks and curbs, ageing signage, unkempt tree borders, graffiti, etc.) will realize much lower resale values than homes in well kept areas. We can help ourselves by joining neighborhood councils and becoming active in city affairs to effect improvements in our neighborhoods.

Which Way are Prices Going?

According to an August article in the San Jose Mercury News, the housing market in California is heating up again: expect it to fall. Citing the California Association of Realtors, the article says buyers opt for condos when prices skyrocket and sit on the fence when resale values for both rise. While high resale prices look good to homeowners, the downside is that businesses tend to gravitate to areas with lower-cost housing for its workers. This, in turn, depresses the local market and the pendulum swings back again.

That article's last sentence says it all: "Be careful what you buy. Be very, very careful what you pay for it."

All this is good "intelligence" for the home improver. Will the improvements you plan today realize a return for you when you sell? Will your neighborhood's condition support your decision or cause you to lose big when the final check's cut?