Pricing your home in the current market
Pricing your home in the current market When we talk about pricing your home in the current real estate market what should we really be looking at? There are some basic indicators that we have to consider when discussing how healthy the Birmingham housing market is. These indicators include the following: Number of homes sold, Average/median sales price, Days on market, Total inventory, and Months of supply. Read More...
By Tom Horn
Price per square foot is media darling of value
While scanning the news headlines this week I ran across an article titled “What Is the Average Price per Square Foot for a Home — and Why Does It Matter?”Because I am an appraiser this caught my eye for various reasons.
The article pointed out that you can use the average price per square foot of the sales in the neighborhood to gauge whether you are getting a good deal when buying a house. I have a problem with this because it places too much emphasis on a stat that does not tell the whole story of a property’s value. Read more...
Paying close attention to a property’s previous sale can be a big deal. I know it’s tempting to say value is all about the current market, but sometimes looking at the past can help us understand the present. Here are some reasons why I pay attention to previous sales. Any thoughts?
5 things to consider about a property’s previous sale: READ MORE...
By Tom Horn
Time to complete an appraisal can varyThe most common question I get after leaving a home on an appraisal assignment is about how long it will take to complete an appraisal and get the report back. This is understandable since the owner or buyer is nervous and might worry that their house may not appraise for what they think it should. The length of time it takes to complete an appraisal will vary depending on many factors which we’re going to discuss today. Read more...
Curious about how appraisers reconcile value?
April 5, 2016 By Tom Horn
After completing a pre listing appraisal assignment recently the homeowner asked me a question. He was interested in how I came up with the value I did given the range that the sales provided.
Being able to explain the appraisal process to help inform and educate the public is one skill that they don’t tell you about when taking your basic appraisal courses. Over the years this is a part of my job that I have come to enjoy.
I explained to him how appraisers reconcile value and the many factors that are taken into consideration. Today I’m going to share with you what I told him about everything that goes into reconciling a final opinion of value. Read More...
February 16, 2016 By Ryan Lundquist
The other day a home owner was upset because he thought his appraisal came in too low. Yes, he was hung up on price per sq ft, which was a big issue, but most of all he believed the home should have been worth way more since there were almost no other homes listed for sale on the market. His thought was, “There’s no inventory, so I’m going to command top dollar.” After all, isn’t real estate about supply and demand? Well, yes. But there’s so much more. Read More...
January 25, 2016 By Ryan Lundquist
Would you pay more for a house with higher ceilings? I probably would, but I guess it depends. The ceilings in my home are a standard 8 ft. Would I have paid more if they were 9 ft? Probably. But what about 23 ft? No, that would be too high.
Someone asked me a question recently about the value difference of ceiling height, and I thought kicking around some ideas here could open up a great discussion. Anything else you’d like to add? I’d love to hear your take. READ MORE...
By The RE/MAX Blog
It's easy to boost buyers' impression of your home in new, inexpensive ways with each season. Here are a few things you can do in the fall to make it as inviting as a basket of Halloween candy.
1. Light it up.
Shorter days and longer shadows mean you need to be particularly careful to maximize natural light with open drapes and blinds, and add more light where needed with floor and tabletop lamps. Replace any burned-out bulbs in outdoor lights. And schedule showings earlier in the day, when the light is stronger. Adequate lighting makes a bigger difference than you might think.
2. Rake in the leaves (and the buyers).
Keep up with your yard work to help hike curb appeal. Clean up the leaves, and trim back any overgrown or dead plants. Cut back trees and hedges that hide or overshadow windows and porches.
3. Stash the toys.
Store all those pool toys, bikes and croquet sets. A less-cluttered yard appears larger. Leave the grill, though. One that's shiny and clean can help buyers see the possibilities of living out their hamburger-and-steak fantasies. If you have nice patio furniture, arranging it around a fire pit - even just a portable or tabletop one - creates a warm, social atmosphere.
4. Mum's the word.
They're cheap. They're cheerful. And they're hard to kill. A pot or two of orange or gold chrysanthemums can brighten up your porch, deck and steps. Pumpkins also can add a bright, seasonal touch as well, but be careful not to overdo it. You're decorating a home, not a department store.
5. Burn, baby, burn.
If your home has a fireplace, now's the time to let it shine. Of course, you probably don't want to light a blaze for showings, just in case the fire's unattended between appointments. But you can make sure it's clean. Tasteful fall décor, like a simple vase of pinecones can add a nice seasonal touch to the mantle or hearth. If your agent will be hosting an open house, a crackling fire with lots of comfy seating can be a great touch.
6. Two words: pumpkin spice.
Don't worry, there's no need to actually bake a pie. Before showings, simply burn scented candles with seasonal aromas, like apple, cinnamon and ginger, to add to your home's coziness.
If you're looking for more personalized recommendations for selling your home, find a local RE/MAX agent who can help you show your home at its best.