Tag Archives: home value

Real Estate Agent Reports: The Most “Valuable” aspect of a Home

Posted on November 2, 2015 | Leave a comment

When you sell property, you’ll find that some aspects are much more valuable to prospective buyers than others. Check out our list of what features get buyers to reach deeper into their pockets, and what aspects can prove difficult to sell.

Disclaimer: for information and entertainment purposes only. If you have value questions regarding your home contact the appraisers at www.scappraisals.com

Adding value – Floor plan is the key, says Damon Warat; real estate agent. Entertaining areas, views, elevation and the layout remain the most important. Fixtures and fittings can be amended, but layout becomes difficult and expensive to change.”

Ray White Adelaide’s principal, Brett Pilgrim, is in agreement: “Everybody is different; however, the majority first search by number of bedrooms and/or bathrooms. Then they really spend some time on the floor plan – that has to work for them.

“The wow factor of a property certainly helps things, like renovated kitchen, bathrooms and a nice street frontage; but I think we have seen a big change, more to the opportunity a property provides. So a finished home is not always as popular as something that can be renovated.”

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

Posted on June 1, 2015 | Leave a comment

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

disclaimer: for information and entertainment purposes only

Want Solar but Can’t Afford-Leasing May be a Good Option

Posted on July 17, 2013 | Leave a comment

I’d like to buy a solar electric system but am not sure I can afford to purchase one. Is leasing a system a better option?

I hear this question a lot. Solar electric systems have never been more affordable than they are right now, thanks to record-low module costs, generous federal tax incentives and financial incentives offered by many local utilities. Even so, out-of-pocket costs for a system that would meet the needs of a family of four for at least 30 years could run as much as $15,000 to $25,000 — or even more, depending on available incentives and the household’s annual energy consumption. Not surprisingly, a price tag like that creates sticker shock in a lot of potential customers.

Will a leased system affect the value of my home? Contact the appraisers at www.scappraisals.com for your home value questions. What happens if you want to sell your home?

Don’t despair! For those who can’t afford the upfront cost of a solar electric system, one option is to secure a loan so that you can make monthly payments. In some cases, this option can result in payments lower than your current monthly electric bill. And, as you suggested, solar leases can be another good option.

You could potentially lease a solar electric system from any third party, but it would typically be from a company that specializes in solar leases. Two such companies are SunRun and SolarCity, but you’ll want to search online to find what’s available in your area.

In general, two types of solar leases are available. The most common is an operating lease. In this case, the third party (the lessor) installs the system at its expense and is therefore considered the owner of the system. It receives all the tax benefits, such as the current 30 percent federal investment tax credit, and local utility rebates, if any. The terms of lease agreements vary considerably and are often tailored to the finances of the homeowner or business owner (the lessee). Some operating leases require no upfront payment, while others require a small down payment. The cost of maintenance and component replacement may fall on the shoulders of either the lessor or the lessee.

Disclaimer: for information and entertainment purposes only

Tag Archives: home value

Real Estate Agent Reports: The Most “Valuable” aspect of a Home

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

Want Solar but Can’t Afford-Leasing May be a Good Option

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