What's Your Home Worth?

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With the fluctuating market home values are a lot like the stock market you need to buy low and sell high. Contrary to urban myths about home values here is what really effects the value of your home you neighbors in your subdivision you really need to keep up with what's going on around you if you are thinking about selling or buying a home.

You want to buy in a increasing instead of a decreasing neighborhood you need to beware of who selling what and for how much and how long ago because that is one of the factors that determines your value not some newbie real estate agent that knocks on your door and say hi my name is Joe Smith and just to let you know we just sold a house a half mile down the street for twice as much or less as what yours is really worth fact you need to find out if that house is in the same subdivision as yours because if not you could be in for a be surprise after the contract is sign and you find your self on the wrong side of the negotiating table and not to say all real estate agents don't know what there talking about and there only trying to make a quick buck because that's not the case just make sure of the facts first know who you are working with and know what questions to ask:

Question One: What subdivision is it located in?

Question Two: What type of house was it and is it just like mine?
What I mean by this is you cant compare a split foyer to a colonial with the same square footage as they are very different from one another.

Question Three: Where they exactly the same or are there differences?

There are many factors say for example your house is 2100 square feet above grade that means ground level and up for those who don't know and your neighbor house a few blocks down is 2200 square feet above grade you would think your neighbors would be worth more right? Wrong, there are a lot of things that go in to deciding how much a house is worth such as age when was the house built, how many bath rooms does it have, how much land is it on, does it have a attached or detached garage, does it have a full basement, is it brick or is it siding on the exterior, does it have central air or not and my personal favorite has the garage been turned into a in-law suite which is normally worth more than just a garage itself.

Is the swimming pool built in or above ground? Believe it or not most of the time above ground pools decrease the value of homes. Most of all, what kind of upgrades have been done like new cabinets, new counter tops, bath rooms remodeled like new tile fixtures bath tubs, sinks and toilets been replaced, new bath rooms been added, new windows or siding, has any more square feet been added to the house like a guest room or sun room?

When you add square feet to a house that what really bring the value up but of course unless you are a certified appraiser there is no way of knowing some these things about your neighbors house unless you ask which I do personal do but there are ways of getting a general ideal before you buy any house you should always contact a certified appraiser is worth the $100 to $200 bucks to find out what the increasing value has been over the last two to three years there are also other ways to find out in general what's going on like signing up here for your free home value report it will give you a general ideal of what's going on around you and if you have any questions you can contact me personally.

Here are some of the myths that people think add value but really don't; adding new carpet, painting the rooms or house, adding landscaping like flowers shrubs, gravel gardens, trees, and adding paving to the drive way. These are things that add little to no value at all. They make the property look nice but you spend more than you make.

Here are the most important facts when buying, selling or refinancing a home. Look at what the appraiser looks at when appraising your home.

The appraiser will look at your neighbors homes to establish comparable prices. Lenders also look at the comparable prices when deciding how much money they will lend you or the buyer of a home. You need to get the facts by signing up for a free home value assessment on what homes are selling for in your neighborhood

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