6 Tough Home Pricing Truths

  The pricing conversation is always a challenge. You want top dollar for your home, and your real estate agent will, too. After all, a better commission comes from a better price. But a lot of psychology and strategy goes into home pricing, and if you don’t go in with your eyes wide open, you could end up heartily disappointed. Here are some tough truths about home pricing. While they can vary a little depending on unique market conditions, they should all be in the back of your mind as you prepare to list. Some agents will try and “buy

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5 tips to predict home values in any neighborhood

                How do you predict the value of a neighborhood? While no one can say for sure how home values in a neighborhood will rise or decline over time, there are big-picture economic factors that you can look for to help get handle on where they may be going. Major regional employers. If a community depends upon one or two large companies for a high percentage of local employment, you can bet that as the company fares, so will the neighborhoods. While “company towns” are hardly the norm these days, don’t overlook the

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These Affordable Home Remodeling Ideas can Add to Your Home’s Resale Value

If you’re on a budget, that doesn’t mean that you can’t improve your home. While it’s true that home remodeling can be expensive in general, there are affordable home remodeling ideas that you can implement. Don’t underestimate these affordable home remodeling ideas. They will do a great job of improving how your home looks. They can also improve your quality of life. With these things in mind, it’s easy to see why they add to your home’s resale value. This is why they’re a good investment. They can benefit you now with a better home and later on with a

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The Pitfall of the Pricing Game

Which do you think matters more when waiting or the right time to buy a home? Is it securing a low purchase price, or locking in a great financing rate? Most buyers become focused on purchase price when they’re considering whether or not to buy. The question you often hear is the same: “Has the market bottomed out yet?” The idea of getting “the best deal” on a home is paramount to these price shoppers, and indeed for cash buyers, this may be the primary concern. While negotiating a great price is an important part of the equation, the value

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The difference between market and assessed value

“What’s my home worth?” This simple question is often answered three different ways. Ask your public tax assessor, and you’ll get one number (usually low). Look up your house on Zillow and you’ll get another number (usually too high). The third answer is market value, and if you’re selling your house, you’ll usually figure out what that number is (for good or ill) in 30 to 90 days. Many people are confused about assessed value versus market value. Assessed value is a number placed on a property by a public tax assessor for the purposes of taxation. Some percentage of

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How to determine the true value of home improvements

(BPT) – As the U.S. housing industry continues to emerge from the Great Recession, signs are pointing toward positive recovery. In fact, a recent report from the Joint Center for Housing Studies of Harvard University states that the home improvement industry could see record spending in 2015. It’s news like this that may have you contemplating an update to your house. Even if you plan to stay in your home for years to come, it’s important to consider which home remodeling projects offer the potential for a positive return on investment. “Research shows that more homeowners intend to remain in

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Tips for Increasing a Home’s Property Value

With the Spring selling season in full swing, now is the time for your clients to start making changes to improve their home’s comfort level and the way it functions to make it more appealing to potential buyers. Where should they start? Peter Chovanes, a REALTOR® withVan Guard Properties in San Francisco, advises that clients start with the four home improvement basics: foundation, roof, plumbing, and electrical.  Of these the roof is the most important. “I am almost always asked ‘How old is the roof?’” he says. “And keeping the roof in good shape alleviates other problems; for example, water

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5 Ways to Raise the Value of Your Listing

A seller may be able to boost the value of their home by an additional 12 percent, with just a few smart pre-listing repairs, according to a new survey of 300 residential real estate professionals by the Consumer Reports National Research Center. On a median, single-family home priced at $205,000, that could be a potential gain of $24,600. Best time to sell: The best single month to sell a home is from April through June, with the best selling month identified as April, according to the Consumer Reports survey of real estate professionals. “You don’t have to spend a ton

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Top School Districts Lift Home Prices

Homes within highly rated school districts tend to have a higher median sales price, sell for a greater percentage over the list price, and sell faster, according to a new study by the real estate brokerage Redfin. Highly rated public schools were found to have homes with a median sales price of $474,900 compared to $290,000 in an average-rated school zone. Redfin researchers also found that homes in top school districts are more likely to sell for 30 percent above the list price versus 23 percent. They tend to sell faster too: A median of 25 days on the market

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Home improvements that make your home more valuable

(BPT) – More and more homeowners are embarking upon home improvement projects, spending nearly $200 billion a year on home renovations, according to the National Association of Home Builders. If you’re looking to make some home improvements without breaking the bank, spend smartly and invest time and money now into the projects that will pay back later. Curb appeal When it comes to first impressions, house hunters first notice curb appeal, or lack thereof. In fact, according to the National Association of Realtors, curb appeal is important to 71 percent of homebuyers. So beautify the outdoor space to attract possible

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