Renovations that attract buyers and maximize ROI for sellers

Plus: eXp rolls out advisory form for sellers considering a private listing

April 17, 2025

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☀️ Hello Thursday. Today, we look at the eXp advisory form for sellers, cities with the biggest population slowdown, and home renovations that attract buyers.

Today's newsletter is 733 words — a 2.5-minute read.

1. eXp rolls out advisory form for sellers considering a private listing

Yesterday, eXp Realty rolled out a new form titled “Seller Advisory: Risks of Limited Market Exposure.”

The form warns homesellers that marketing a property privately without listing it on the Multiple Listing Service or other wider channels “can significantly limit visibility and reduce buyer competition, which may negatively impact your final sale price and terms.”

The form includes four sections on the drawbacks of limited buyer exposure, financial risk involved as a result of limited competition, the potential for longer days on market, and the negative impact of withholding listings from public portals.

2. Of the 10 cities that saw the biggest slowdowns in population in 2024, half were in Texas

The flow of residents moving into Texas and other parts of the Sun Belt slowed significantly in 2024, according to a new report from Redfin.

  • Dallas experienced the second-biggest slowdown in domestic migration among the 50 most populous metros, after Tampa, with a net inflow of roughly 13,000 residents in 2024, down from 35,000 in 2023.

Here’s a breakdown of the top 10 metro areas where domestic migration declined the most in 2024:

Source: Redfin

A MESSAGE FROM PACASO

Zillow's Co-Founder Wishes They Did This Before The IPO

Spencer Rascoff co-founded Zillow, scaling it into a $16b real estate giant.

But everyday investors couldn’t invest until after the IPO, missing early gains.

"I wish we had done a round accessible to retail investors prior to Zillow's IPO," Spencer said.

Now he’s doing just that. Spencer has teamed up with another Zillow exec to launch Pacaso. Pacaso’s co-ownership marketplace is disrupting the $1.3t vacation home market. And unlike Zillow, you can invest in Pacaso as a private company.

With $100m+ in gross profits and rapid international expansion, Pacaso is scaling fast. Investors like SoftBank, Maveron, and more are already on board. Join them as a Pacaso shareholder.

Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. There’s no guarantee that Pacaso will file for an IPO.

3. Catch up quick

📊 Experts polled by Fannie Mae predict home price growth will ease in 2025. (FannieMae)

📦 Texas is America's top exporter to China. (Axios)

🚨 Thieves tunnel their way to a $20 million robbery. (NBC)

💬 Trump slams Fed Chair Powell over inflation remarks, says 'termination can't come fast enough.' (MarketWatch)

🛠️ Home improvement retailer Lowe's to buy Dallas-based Artisan Design for $1.33 billion. (Lowe’s)

🐬 Fun read: Even if you dislike AI, you probably want to talk to dolphins. (Google)

4. HomeServices of America names Chris Kelly CEO

HomeServices of America has a new CEO, promoting Executive Vice President Chris Kelly as former CEO Gino Blefari steps into a new role.

Blefari, who has served as president and CEO of the company for more than five years, is stepping down from the role and transitioning into the position of chairman emeritus.

Kelly brings more than 25 years of experience to the role, beginning his career as a real estate and finance attorney. He joined HomeServices in 2007 as General Counsel for its Kansas City-based subsidiary, ReeceNichols.

“The true strength of HomeServices has always been our people and the incredible leadership team across our companies. I am incredibly humbled to step into this role following Gino Blefari, an industry icon, and to partner with our team to continue driving what makes HomeServices so unique—our position as the preeminent full-service real estate brokerage.”

Chris Kelly

5. Texas plans to spend $51 billion on property tax cuts

The Texas House is considering a budget that would shell out $51 billion — 15% of the state's total two-year spending plan — to maintain and provide new property tax cuts.

That number, more than the state allocates to transportation or higher education, is making some leaders nervous about the state’s ability to afford the tax relief if there’s an economic downturn.

The allocation exceeds the operating budget to run Texas A&M System’s 11 university campuses for two years. And it’s more than enough money to cover the estimated cost of a high-speed rail line from Dallas to Houston.

6. Renovations that attract buyers and maximize ROI for sellers

According to a report released by the NAR and the National Association of the Remodeling Industry, homeowners spent approximately $603 billion on renovations in 2024, $183 billion more than in 2020.

Here’s a look at which renovations had the biggest impact:

Upgrades buyers want the most:

  • Kitchen upgrades – 48%

  • New roofing – 43%

  • Bathroom renovations – 35%

  • New interior paint – 32%

  • Top-to-bottom kitchen renovations – 26%

Renovations that had the biggest ROI for home sellers:

  • New front doors – 90%

  • Closet renovations – 83%

  • New vinyl windows – 74%

  • New wood windows – 71%

  • Basement conversion to living area – 71%

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