In my market buyers are PICKY with higher priced homes and they want perfection if it's been remodeled at all. 

But if you put $20,000 to $30,000 into a remodel you could sell the house for $120,000, with a 6% commission and closing costs net about $108,000. 

We've been in the house 6 years, and we've done a good amount of remodeling- drain tile in backyard, fenced in backyard, new high efficiency furnace, remodeled bathroom and kitchen.

To get a feel for the area we first did a remodel on a manufactured home.

If a 1250 sqft home needs to be completely remodeled (not including foundation work).

I bought my first home in the Bay Area (Sunnyvale) three years ago on a jumbo loan with 20% down and put everything I had into a remodel done partly by me and partly with subs.

Complete bathroom remodel with tile standup shower in master, new appliances, new back deck, refinish hardwood floors, paint.

I actually still have to complete an official walk-through with a contractor and based the estimates on a complete remodel being done - as there is foundation damage and the roof has not been done since the house was purchased in 30yrs ago.

Kitchen needed a full remodel.

@Julie McCoy I would likely feel the same way even though we just completed a HUGE remodel at my personal home that has a private entrance to a room in the basement.