Privacy & seclusion, this 2,200 sqft 6 bdrm 3 bath home is situated on an acre of flat and usable property, surrounded by over 1000+ acres of designated forest land. Extremely well maintained, upgrades include, custom cabinets, quartz counters, stainless steel appliances, wetbar and new decks. Need more? This home has a separate 2 bdrm, 2 bath 1,100 sqft apartment with laundry. 36×48” Shop, with 3 storage areas, elevator lift, even has its own laundry facilities and RV hookup. Amazing views $300,000 Call to schedule a showing
If you’re thinking of selling your home, you may be fantasizing about the profit you’ll reap from the sale or calculating exactly how much you’ll need to pay off your current mortgage and have enough left over for a down payment on the next house.
Before your fantasies run amok you need to realize that, while you can estimate the value of your home in a variety of ways, the true value is only what a buyer will pay for it. That said, there are several ways to get a strong idea of how much a buyer will pay for the property in current market conditions.
What Your Home Isn’t Worth
Many homeowners find it confusing that there are various numbers floating around that indicate their home value. Here are a few:
Property tax assessment. Each jurisdiction uses a formula to establish home values for a tax assessment, but this price rarely correlates with the market value of your home. Your tax assessment can be higher or lower than the current market value.
Homeowners insurance value. Insurance estimates are based on the cost of replacing your home without the land, so this value is skewed compared to market value.
Mortgage balance. Your mortgage balance simply reflects your home loan. The difference between your loan payoff and the market value of your home is your equity.
Neighbor’s home value. Even if your neighbor’s home is similar to yours, it’s not likely to be identical. A REALTOR® can help you evaluate your home’s worth in the context of other nearby properties.
Cost when you purchased the home. Regardless of how long ago you purchased your property, the value can have gone up or down.
Desired value. You can always try to put your home on the market for your desired price, but if you’ve over- or under-priced it, you’re shortchanging yourself. because you’re either selling too low or your house could sit on the market and eventually sell for less than if you priced it correctly in the beginning.
Comparative Market Analysis
A REALTOR® can do a comparative market analysis with recent market data to help you estimate your home value. When you sell your home, an appraisal will be required by the buyers’ lender, so keep in mind that your home has to appraise for the selling price or, depending on how your contract is written, you’ll have to renegotiate the sale or the buyers will need to come up with extra cash.
A CMA is both an art and a science. While it’s based on data, it also requires local market knowledge and intuition about which homes to compare and how to interpret the prices. Most REALTORS® will look for recent sales of homes that are similar to yours, preferably within the past two or three months, up to about six months. In addition, a REALTOR® can look at other homes currently on the market and homes that didn’t sell that were taken off the market to compare values.
The comparison of your home with others should include not only the size and the number of bedrooms and baths, but also the condition of your home, the neighborhood and the proximity to amenities. If you do not understand the comparisons a REALTOR® is making, ask to see some of the homes currently on the market or look online at photos of the properties.
While it may be tempting to list your home with the REALTOR® who tells you it can sell at the highest price, a smarter way to sell your home is to price it as accurately as possible from the beginning. Studies show that an overpriced home that lingers on the market will end up selling for less than the estimated correct price.
Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.
More than just a place to browse eye-candy, Pinterest can be a handy source for remodel and repair information
It’s treasure trove of images is an unlimited resource for organizing and planning projects. From picking paint colors to fixing clogged drains, we’ll show you how to put Pinterest to work.
If you’re already on Pinterest, just scroll past this primer to the tips.
If you’re not using Pinterest, here’s the 411: It’s a virtual scrap board that allows users to find, save, and share images. Pinterest calls saved images “pins.”
When you save a pin, you’re asked to pick or create a board. Boards are how you organize pins by topic. For example, if you’re remodeling your kitchen, you can save all of your kitchen ideas on a board titled “kitchen.”
What else can you do?
- Create collaboration boards that allow other people to pin their ideas to your boards.
- Make your board secret so only you and the people you invite can see it.
- Follow other boards created by Pinterest users. When you do, their images show up in your home feed.
- Use your home feed to find new things to pin to your boards.
Tip: Pinterest is a great way to make sure family members, remodelers, and contractors are on the same page when it comes to projects, products, materials, and your vision.
No Need to Surf Multiple Sites
Although you can pin images from other websites to your board, you can also find all the products, tips, and DIYs you need right on Pinterest. Here’s an example:
When HouseLogic writer Dona DeZube was looking for countertops and floor tile to pair with her new cabinets, she searched Pinterest using the cabinets’ brand and style to find how others were using the cabinets. She even found a few ideas on how to configure her cabinets. Check out her board.
Tip: Eliminating pins is just as important as posting new finds. Edit your boards to save only the best combinations of ideas.
Some tricks for browsing through lots of pinboards for ideas:
Be specific when you use the search box. If you’re looking for flooring, search by the type of flooring you want, like wood flooring.
Filter results. Right under the search box, you can toggle between Pins, Boards, and Pinners to get different views on your search:
- When you click Pins, you’ll see pins of wood flooring.
- When you click Boards, you’ll see boards with the words “wood flooring” in the title.
- When you click Pinners, you”lll see boards created by companies that have “wood flooring” in their name.
- Our search “how to unclog a drain” resulted in a gazillion solutions.
- When we searched by “unclog a drain DIY,” we whittled the results to a more manageable few dozen.
Tip: When looking for instructions, try separate searches using the terms “DIY” or “tutorial” along with the name of your topic.
Tip: When you find a pin you like, scroll down. You’ll see an option to check out more boards that feature similar pins. Scroll down further, and you’ll see a list of related pins.
By: Deirdre Sullivan is an NYC-based writer who’s obsessed with maximizing every inch of her urban dwelling
Image: Liz Foreman for HouseLogic
Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.”
While you’d like to get the best price for your home, consider our six reasons to reduce your home price.
Home not selling? That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.
These six signs may be telling you it’s time to lower your price.
1. You’re drawing few lookers
You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.
2. You’re drawing lots of lookers but have no offers
If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.
3. Your home’s been on the market longer than similar homes
Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.
4. You have a deadline
If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.
5. You can’t make upgrades
Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.
6. The competition has changed
If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.
Provided by Houselogic.com Image: Liz Foreman Read more: http://buyandsell.houselogic.com/articles/6-Reasons-To-Reduce-Your-Home-Price/#ixzz35kzXmTqZ Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.
Your home is your castle — enjoy it, customize it, make it reflect your taste and values. But, there’s one area where being too individualistic carries risk: landscaping for curb appeal.
That’s why homeowners associations often have exacting rules about landscaping.
And it’s not just HOAs that care. Most home buyers seek landscaping that adds “functionality and resale value,” rather than “frills and lifestyle,” according to the National Association of Home Builders recent “What Home Buyers Really Want” report.
Good landscaping can add up to 28% to the overall value of a house, says landscape economist John Harris, and cut its time on the market 10% to 15%. Even taking your landscaping to the next level, upgrading from “good” to “excellent,” in terms of design, condition, and placement, can add 6% to 7% to a home’s value, according to a Clemson University study.
But don’t landscape merely to flip a house. You won’t get your money back, Sandy MacCuish, a California appraiser, tells us. Instead landscape for your enjoyment (Did you know trees reduce stress in just 5 minutes?), knowing that you’re making a good investment.
Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®
|NORTHWEST MULTI LISTING SERVICE|
I was out showing houses last week and drove past a bright purple house! I instantly thought that’s when we need CC&R’s!
What are CC&Rs? Most planned developments (a group of homes built by the same contractor) have CC&R’s. Covenants, conditions and restrictions; are a set of documents that describe how the homeowners association operates and what rules home owners must obey.
They are often set up to maintain the style and appearance within a neighborhood, and to protect the homeowner’s investment. These rules and regulations vary between developments and may stipulate house style, size, roof pitch, exterior siding and color. They can also restrict what goes on while you’re living there, such as where garbage cans can be placed, restrict parking of recreational vehicles, limit the type and number of pets and even if laundry can be hung outside.
Although some development CC&Rs can be quite restrictive, and others more relaxed, most are meant to ensure that your neighbor’s house doesn’t negatively impact yours. Let’s face it, no one wants to live next door to the purple house, and selling your house next door to the purple house can be difficult!
If you’re shopping for a house within a developed neighborhood, find out if they have CC&R’s, and read them carefully! Are they too restrictive? or maybe not restrictive enough?