Green Real Estate Appraiser

Proceed with Caution on Internet Property Value Estimates

Posted on January 29, 2014 | Leave a comment

Q: In a previous column, you mentioned a hard-money loan. Do you know any companies that make these types of loans to homeowners?

Also, the person that wrote in mentioned how Zillow valued his home at much more than what he paid for it 16 months before. I am in the same situation. Do you think he could sell his home for over a hundred thousand dollars more in just 16 months? Do Zillow and Trulia give accurate estimates?

A: First, I do not recommend any company, or any lender. You will have to find that on your own. But if you believe your house has gone up significantly in value, unless your credit history is really bad, you should explore traditional lenders before going the hard-money route.

Need to know the value of your home? Zillows, etc. take all the sales in the neighborhood; smallest and largest and basically average out a value of your home. The computer cannot see all the improvements you have, if you have added a pool, solar, etc. Get an accurate estimate of value for your home. Contact the appraisers at www.scappraisals.com for your real estate appraisal and home value questions.

There are legitimate reasons to use such a lender, but shop around for the best deal before you commit to any one.

As for the various companies that give estimates, I received the following from a reader:

You ran a piece in which the writer said they recently purchased, and shortly after, the Zillow value was considerably higher. Your answer was very lawyerly, but you let the Zillow issue off the hook. I am a county tax assessor and have seen far too often where owners believe the estimates of the Zillow engine. The writer thought he had over $100,000 gain in this market in 16 months. We should all be so lucky. I like to use Zillow and Trulia for information. My impression is that they generalize by geography. For instance, they estimated my neighbor who was on the multiple listing at $183,000 in the low to mid-$300,000s. Nothing in my neighborhood is even 200K, however the subdivision does have $300,000 homes. The estimation engine was not able to discern the value boundary.”

This is not in any way an indictment or criticism of companies that assess property values; only a note to be cautious and not completely rely on those estimates.

disclaimer: for information and entertainment purposes only

Home Electricity Use in U.S. Falls to 2001 Levels

Posted on January 28, 2014 | Leave a comment

The average amount of electricity consumed in U.S. homes has fallen to levels last seen more than a decade ago, back when the smartest device in people’s pockets was a Palm pilot and anyone talking about a tablet was probably an archaeologist or a preacher.

Because of more energy-efficient housing, appliances and gadgets, power usage is on track to decline in 2013 for the third year in a row, to 10,819 kilowatt-hours per household, according to the Energy Information Administration.

That’s the lowest level since 2001, when households averaged 10,535 kwh. And the drop has occurred even though our lives are more electrified.

Here’s a look at what has changed since the last time consumption was so low.

Better homes

In the early 2000s, as energy prices rose, more states adopted or toughened building codes to force builders to better seal homes so heat or air-conditioned air doesn’t seep out so fast. That means newer homes waste less energy.

Also, insulated windows and other building technologies have dropped in price, making retrofits of existing homes more affordable. In the wake of the financial crisis, billions of dollars in Recovery Act funding was directed toward home-efficiency programs.

Better gadgets

Big appliances such as refrigerators and air conditioners have gotten more efficient thanks to federal energy standards that get stricter ever few years as technology evolves.

A typical room air conditioner — one of the biggest power hogs in the home — uses 20 percent less electricity per hour of full operation than it did in 2001, according to the Association of Home Appliance Manufacturers.

Central air conditioners, refrigerators, dishwashers, water heaters, washing machines and dryers also have gotten more efficient.

disclaimer: for information and entertainment purposes only

When the agent represents the Seller and Buyer who are they looking out for

Posted on January 27, 2014 | Leave a comment

Q:: I was trying to buy a condominium in Florida when the agent told me he was a transaction agent but could help both the seller and buyer. Also, the seller wanted to sell “as is” and I was not able to get an appraisal quote on this condominium. Does this sound right?

A: Frankly, based on the short question, it doesn’t sound right. You need to understand what you are getting into. The agent told you that he could help both you and the seller as a transaction agent, but wouldn’t really help either of you. (That’s called a “nonagent,” as far as we’re concerned.) He won’t give you his advice but would assist in the paperwork and other clerical functions that might be needed in your purchase.

What you really need is someone there to help you: to give you advice about the market, about this specific property (including inspectors and inspection issues), about negotiating strategies, about mortgage issues and so forth.

Do you need an unbiased opinion of the value of a property? Contact the real estate appraisers at www.scappraisals.com for your value and market questions.

A good agent can tell you what other buyers are doing and what sellers in this area are willing to accept. They can advise you when a seller is being reasonable and when she is not. The agent can give you information on whether the market is hot or appears to be cooling, and whether you should wait to put in an offer or should hurry due to changing conditions.

Disclaimer: for information and entertainment purposes only

Proceed with Caution on Internet Property Value Estimates

Home Electricity Use in U.S. Falls to 2001 Levels

When the agent represents the Seller and Buyer who are they looking out for

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