Homeowners have $11 trillion invested in single-family homes, according to Fannie Mae, one of the largest buyers of mortgages from lenders. While that's equivalent to the $11 trillion US households who have invested in stocks, bonds, and mutual funds as of mid-2001, the fact is that home ownership is far more broadly based than stock ownership.

A survey conducted by the National Association of Realtors last fall, found that the equity we have in our homes outweighed the value of our investment portfolios, on average, by a ratio of 3 to 1. With stock prices still volatile, many families remain focused on preserving and protecting the equity in their homes.

Therefore home improvement and home maintenance have become extremely important to home sellers because deferred maintenance definitely lowers the value of the home.

The three most common areas of deferred maintenance that impact the selling price are:

* Water damage
* Pests, and
* Roofs needing repair or replacement.