Slow real estate market fueling Valley home remodeling trend?

SCOTTSDALE, AZ - Professionals in the home remodeling industry expect the coming two years to be peak years for home remodels.

"We are seeing three to four times the demand we saw in past years," said Tony Sutton, owner of Est Est Interior Design in Scottsdale. "You are getting the best values that I've seen in years from subcontractors."

Sutton said most of the business he is doing is for established homeowners who want the upgrade but don't want to leave the neighborhood they love.

The down real estate market is fueling the remodeling trend.

Homeowners who are underwater in their mortgages are unable to move.  Also, the majority of homes being sold are foreclosures and buyers are looking to personalize them.

Real estate expert Jay Butler with ASU said that a trend of remodeling can help the overall neighborhood which in the long run may help the market. 

He suggests the best types of remodels are bathrooms and kitchens.  Adding on an entire room for example might not be worth the cost and hassle.

A Texas company called BuildFax launched a "Residential Remodeling Index this week to help monitor remodeling activity across the country.

The National Association of Home Builders also has information on remodeling trends.

"People underestimate the value of making a house a home," Sutton said.