Correcting Old Photo's Color

Open the photograph you want to restorate.

Then go to Image-Adjustments-Auto color.

Surprise! Now it looks much better, but not realistic…

Desaturate a little bit the steins and remove defects with the Stamp tool.

Image-Adjustments-Hue/Saturation. Set Saturation to 36.

Image-Adjustments-Variations-Midtones. Add some yellow, cyan and red. Increase the saturation.

Select the trees and desaturate them using Hue/Saturation (set the saturation to -50).

Select-Color Range-click on a roof and make sure, that all the roofs are selected after you click OK.

Hue/Saturation: Hue 17, Saturation 5.

Deselect and then go to Hue/Saturation again:

Magentas-Saturation -(minus)100.

Filter-Sharpen-Unsharp mask. Amount 50 Radius 0.6. OK.

Select the sky, a little bit desaturate it and add some cyan, blue and yellow to the sky in Variations.

Image-Adjustments-Color Balance

Midtones-Color levels: +19 +17 -1
Highlights-Color levels: +1 +1 +1
Shadows-Color levels: -3 0 -6

That's all!