Just released: Cost versus Value Report from 2008 (NAR) and what it means for you...

The National Association of Realtors just released their annual Cost vs. Value Report.  This report basically covers average percentages of what it to generally expect when you spend money on various remodeling projects on your property.  According to this article; 

"NATIONAL ASSOCIATION OF REALTORS® statistics show that home prices have fallen by an average of 7 percent nationally in the past year. But the value of home owners’ investment in remodeling projects has declined only 3.86 percent on average between 2007 and 2008, according to Remodeling’s 2008–2009 Cost vs. Value Report." 

So, here are the national statistics, pulled right from the NAR study;

Remember, folks, these numbers are "national averages"...  and real estate is local.