When you're buying or selling a home, understanding its value is crucial. Real estate agents use a method called "comps" to help determine a property's value. In this guide, we'll dive into what comps are and how they're used when a real estate agent determines your home's value. What is a Comp When a Real Estate Agent Determines Your Home's Value? This guide explains the following: What is a comp? How agents find comps Why comps are important Factors affecting comps … Continue reading...
Even if you don't plan on selling your home any time soon, preserving its value in the modern real estate market is always a good idea. This makes it important for you to keep track of things that can lower the value of your home over time, and to keep an eye on improvements you can make to increase value. Here are a few common things that can lower the value of a home. 1. Wallpaper With each passing year, wallpaper continues to become less desired by those looking to purchase a new home. If … Continue reading...
Even in today's market, occasionally there's a home that just isn't moving. This can be a very upsetting situation for sellers as they watch other homes in the neighborhood sell, and they schedule showing after showing, only to come away with nothing. The stakes are even higher when you've got a new job waiting on you in a different state or buying a new house is contingent on selling your current one. It's tempting to get angry, but that won't get you anywhere. Instead, try some known … Continue reading...
Knowing what you want before you start looking is a big help when house-hunting. Giving the list of 'must-have' items to your real estate professional a few days before you begin touring listings is a great idea because they can find homes that meet as many of your criteria as possible. It also helps on a more personal level, since being organized and knowing what you want will help you quickly identify whether or not homes meet those standards. Is it a 'Must-Have' or a 'Nice-to-Have'? The … Continue reading...
Value is defined as the importance, worth or usefulness of something; to estimate the monetary worth of something. When the subject is a home, and what adds value to it, then breaking it down into its most common denominator is necessary. A family looking for a home decides that it has enough space, that there is room to expand perhaps, and that the home would be handy for entertaining guests. Adding a pool to the mix greatly improves the form and functionality of a home. Below, we'll explain … Continue reading...
There's at least one good thing about the drop in the dollar and it's boosting the real estate market. Many high-end Europeans are now looking toward the U.S. for a vacation home or permanent residence, and that could mean big hope for your home for sale. However, this also means a different way of selling. Stage A Benefit No open house for high-end buyers. Host an event instead - maybe even a benefit dinner for a worthy charity. Let people come and view the property, but give them an avenue to … Continue reading...
Experienced home sellers know that reaching a sales agreement with a potential buyer can be just the start of the negotiation process. There are often inspection issues to resolve, among other items. One particular negotiation point which can present difficulties for both buyers and sellers is when a home's appraised value falls short of its contracted sales price. Sometimes, this happens because the home's price was inflated. Other times, it's the result of a faulty appraisal. As a home … Continue reading...