Tag Archives: home remodeling

Green Remodeling

Big Picture Planning

If you’re undertaking a major remodeling project, you probably have other goals in addition to energy efficiency. You might want to add square footage or reconfigure the space to work better for you — for example, by adding an extra bedroom or a bathroom. Your budget will be a major factor, and you’ll want your home to be even more comfortable and enjoyable.

Will it add value to your home?  Contact the appraisers at www.scappraisals.com for your home value questions.

Almost everyone on our panel of five energy experts — including architects and specialists in energy efficiency who together have numerous successful remodels behind them — suggested the same starting point: Get a thorough home energy rating, which will illuminate what’s possible for your home and help you set priorities.

“A certified home-energy rating is worth every penny, and it’s rarely more than $500,” says Jeremy Knoll, an architect and co-founder of Historic Green. “It gives you a priority list based not on your gut feeling, but on measured data of what’s going to make the most difference in your home in terms of energy repair work.”

You can find a certified home-energy rater in your area through RESNET, the Residential Energy Services Network. Be sure you talk to the rater before scheduling the audit, and pick someone who is good at answering your questions and explaining the details. A home energy rater should be able to recommend reliable people who can do the energy upgrade work. Getting an energy rating can also help you qualify for different financing options, such as an energy-efficient mortgage, if that interests you.

read more at: http://www.motherearthnews.com/green-homes/home-design/green-remodeling-zm0z13jjzsor.aspx?PageId=1

National Association of Realtors Remodeling Impact Report

realtor

Homeowners and renters remodel, redesign, and restructure their home for a variety of reasons. This report takes a deep dive into the reasons for remodeling, the success of taking on projects, and the increased happiness found in the home once a project is completed.

Does it add value to the home?  Contact the appraisers at www.scappraisals.com for your value questions.

It also contains:

  • The typical cost of 20 remodeling and replacement projects, as estimated by members of the National Association of the Remodeling Industry (NARI)
  • How much appeal each project is likely to have for buyers, according to REALTORS®
  • How much REALTORS® estimate that homeowners can recover on the cost of the projects if they sell the home.

Read Report: http://www.realtor.org/reports/remodeling-impact

disclaimer: for information and entertainment purposes only

Study: Homeowners overestimate the value of their property by 8%

Do you know what your house is worth?

Would you concede that there’s a chance that your estimate of its value might be higher than what a buyer would pay?

Contact the appraisers at www.scappraisals.com for your value questions.

A new statistical study, published in the Journal of Housing Economics, found that home owners on average “overestimate the value of their properties by about 8 percent.”

Tapping into federal databases, researchers concluded that overvaluations are likely tied to erroneous owner estimations of the capital gains they’ve accumulated in the house.

The study is in sync with a monthly survey conducted by Quicken Loans, which compares estimates provided by applicants for refinancings with results from appraisers. The latest Quicken study found a “widening gap” on average across the country between what owners think their homes are worth and actual market value. The divergence was much narrower in the Quicken survey compared with the Journal of Housing Economics findings —currently just seven-tenths of 1 percent — though in 2008 it averaged around 7.5 percent.

Nobody can blame owners for thinking optimistically about their homes’ value, right? It’s human nature. But here’s a question I recently put to real estate appraisers in different parts of the country: Other than the obvious emotional attachments that color our perceptions of our homes, where do we tend to err when it comes to estimating value?

Top of the list: Unrealistic expectations about how much the improvements you’ve made to the house will add to its resale value.

Bottom line: Without access to key data — recent sales comparables, accurate information on appreciation rates over time — it’s tough to know exactly what your house is worth. If you really want to know, consider hiring an appraiser to perform an independent valuation — they work for owners, not just lenders — or talk to multiple realty agents who specialize in your neighborhood

Read more at: http://tucson.com/ap/commentary/managing-homeowners-great-expectations/article_fec4ff02-b849-543a-8e95-c28a989a120f.html

disclaimer: for information and entertainment purposes only