Carefully thought out remodeling is still worth the investment. Remodeling Magazine's puts out an Annual Cost vs. Value report. Mid-range projects still provide the best bang for the buck overall. The following improvements provide the best return for the West Coast Homeowners:

Additions
Attic Bedroom - Cost Recouped 87.7%
Wood Deck - Cost Recouped 91.5%

Remodeling
Basement - Cost Recouped 91.6%
Minor Kitchen - 94.8%
Major Kitchen - 84.5%

Replacements
Entry Door - Cost recouped 128%
Window (wood) - Cost recouped 88.2%
Windows (vinyl) - Cost recouped 88.8%