I have been researching 10-12 zip codes in the Atlanta metro area for the last few weeks. The market obviously slowed down because of the holidays but there were a few homes that sold over the break. It gave me a chance to analyze the market.
I noticed that the homes that have been completely renovated, from top to bottom, seem to sit a bit longer than the other homes that haven’t been recently renovated (but are still in good condition). This indicates that it is possible to overbuild in certain situations.
If you are going to renovate in order to yield a higher offer, renovate your home in such a way that the design is modest and not too chic. Homebuyers seem to still love a home that is beautiful but slightly homey. However, don’t underbuild your kitchen. Kitchens with a modern and sophisticated design will always sell.