Location, Location, Location!
August 7, 2009
Location is the Key to Maximize Your Home Value
Many first time home buyers and even experienced real estate investors always seem to focus on the functionality and charm of a proposed property. They look for updated kitchens, ample closet space, and the white picked fence and they expect these characteristics to lead to increased property value over time. But many fail to remember the unofficial slogan of the real estate industry - “location, location, location!”
The truth of the matter is that the actual physical structure looses value over time. It’s the land underneath it that appreciates in value. This is a significant distinction considering that buying a house (or any property) is one of the biggest investments you will ever make.
Foreclosures Affect Home Value
July 31, 2009
Foreclosure Listings Can Affect Home Values
So you want to sell your home, but you are wondering about your current home value right? It’s no surprise in today’s market that with exceptional upgrades and luscious landscaping, one can still find their home value is a lot less than what they would have predicted and the culprit could be your neighbor.
One reason for this has to do with the recent increase in foreclosures. Having just one foreclosure in your neighborhood can bring down the real estate values in the surrounding area. In a study released in May of 2009, researchers at Fannie Mae and the University of Connecticut found that if you lived within 300 feet of just one foreclosure, your home value could decrease by as much as 1.3% and that living within 300-500 feet of a foreclosed home can decrease it’s value by .6%! Read more
GetMyHomesValue.com Releases New CRM Software
July 24, 2009
GetMyHomesValue.com Releases Free Updated CRM Solution for Clients
In order to better serve it’s current clientèle, GetMyHomesValue.com announced the release of their newest version of “Prospect Maximizer,” a CRM (client relationship management) program for real estate agents, earlier this month.
The newest version will feature a completely redesigned user-interface, a faster and easier to use automated follow-up system, and is able to track scheduled events, calls and meetings in addition to receiving new mobile device updates!
Access to GetMyHomesValue.com’s Prospect Maximizer 3.0 is included with a monthly subscription to GetMyHomesValue.com’s lead generation services.
For mor information on Prospect Maximizer 3.0, visit the GetMyHomesValue.com support forum or read the full press release here.
Simple Steps to Increase Your Home’s Value
July 13, 2009
Seven Quick and Easy Steps to Increase the Value of Your Home
With home values hitting their lowest points in years, it’s important that you do everything you can to get the tip-top dollar for your home. But the best way to do that is to prepare long before the “for sale” sign goes up. Whether you’re listing the home by yourself, or utilizing a professional real estate agency; there are some simple steps you can follow to negotiate the best price possible.
Step 1:
Get someone to walk though and around your property. Allow this person to be candid with you about what they see. Make a list as you go along of anything that stands out as a potential turn off to prospective buyers.
How to Remodel Your Older Home to Increase Its Value
July 9, 2009
Need to Increase the Value of an Older Home?
Many buyers today love the charm offered by older homes, however, they tend to lack the modern conveniences that families prefer today. So if you’re looking to sell your old home, here are a few quick tips to increase it’s value.
1: The kitchen is often the gathering place for a home. For today’s buyers, it must be functional with modern, up-to-date appliances. Another way to add value to your home is to update finishes, such as drawer pulls, faucets and counter tops. If you’re thinking about doing a complete kitchen remodel, be sure to consult a professional designer to maximize the return on your investment.
2: Bathrooms in older homes tend to be small and scarce. If you’re looking to attract more buyers, consider adding a master bath. In smaller bathrooms, light neutral paint and updated fixtures go a long way. Most buyers are usually looking for 2-2 ½ bath in a standard three bedroom home.
3: Basements: If you got it… Flaunt it! Finishing a basement adds extra living space and therefore extra value to your home.
4: In older homes, closets are like bathrooms. Again they are small and not very abundant. Without adding a walk-in closet to every room, consider increasing closet potential with closet organizers and additional storage in the mud room, garage and pantry.
5: It’s always a good idea to check under your carpets for hardwood floors. Buyers prefer the charm of old hardwoods over carpet. If your hardwood floors are in good condition, they can be refinished fairly inexpensively.
6: Central heating and air-conditioning is a must have for homes these days. If budget allows, consider “green” options like geo-thermal and solar panels. Keep in mind that window units are unattractive and inconvenient and can lessen the appeal of your home.
7: And finally, look up! Remove any popcorn ceilings and any other dated, era-specific features like dark wood paneling and mirrored walls.
If you follow these guidelines you can increase the value of your old home and who knows, after all the updates, you may not even want to leave.
How Well Does Zillow “Zestimate” Your Home Value?
November 4, 2008
No one questions the popularity of Zillow and the convenience of their ability to quickly answer home value questions through the Zestimate. But has anyone ever questioned the accuracy of a Zillow’s home value calculation?
Home sale prices are public information. Zillow has assembled that information and developed a formula that considers “zillions” to create a home value estimate for about 67 million properties nationwide.
Zestimate’s include a low value, a high value, and a number somewhere inbetween that is Zillow’s best estimate. But Zillow’s Zestimate is not perfect. Because Zillow’s estimate is 100% dependent on the amount of data they place into their “secret formula,” a Zestimate can be inaccurate. The wider a home value range on a Zestimate, the less data Zillow has, the less accurate a Zestimate.
Upon receiving a Zestimate, Zillow highly recommends home owners use the number as a “starting point in figuring out the true value of a house.” While the public information Zillow uses in its equation is effective in determining a starting point for a homes value, the Zestimate equation has never stepped foot inside a home to review a homes condition or a evaluate a homeowners sense of color.
Zillow does recommend hiring a professional appraiser or receiving a Comparative Market Analysis (CMA) from a real estate agent after discovering their best guess at your home value.
If connecting with a real estate agent and receiving a free, no-obligation home value estimate is something you’re interested in doing now that you’ve learned the ins and outs of the Zillow Zestimate, GetMyHomesValue.com can connect you with a local real estate agent. To get started, simply type your zip code in the box in the top right corner and follow the instructions on the next page.
Should Sellers Get An Appraisal BEFORE They List?
November 3, 2008
Having an official home appraisal completed is required for most home sale approvals and home refinances. For home owners considering whether or not to sell their home in the first place, is a formal home appraisal necessary?
Recruiting a home appraiser in the early stages of deciding whether or not to sell your home can be a pricey and lengthy process. To secure a home appraiser, plan on booking an appointment at least two weeks in advance and spending somewhere between $300 and $500 for their services.
Not to say that home appraisals aren’t valuable. No two homes are identical, so having an independent third party with knowledge of your local real estate market is great to be able to compare “apples to oranges.”
What if there was a way to save the expense and wait of hiring an appraiser and STILL getting an idea of how much your house is worth? Homeowners deciding whether or not to refinance or sell their home can save that appraisal expense by connecting with a local real estate agent and receiving a free Comparative Market Analysis (CMA). CMAs often provide similar information to a report from a certified home appraiser, and experienced real estate agents often come close to an appraisal price.
GetMyHomesValue connects homeowners with local real estate agents. To receive a free, no obligation CMA today from an agent in your area, type your zip code in the box in the top right corner and follow the instructions on the next page.
Bailout REJECTED: What’s Next For The Housing Market?
September 29, 2008
The House has defeated the proposed $700 billion emergency bailout plan.
While Congress continues to debate the next steps for helping the financial markets, what effects will this government bailout have on the housing market?
For a recap of the historic vote on the $700 billiion emergency bailout, click here.
The bloggers behind GetMyHomesValue.com’s Home Value blog have been feverishly searching the web for the best analysis online about the impact of the bailout on the housing market.
Check back frequently for an ongoing, updated list of the latest news about the housing market and the bailout online.
LATEST UPDATE: 9/30/2008, 12:17 p.m.
- House Urged To Revisit Bailout Vote 9/30/2008 (Inman News)
- Bailout’s Failure Bad News For Housing Market 9/29/08 (International Herald Tribune)
- Bailout Package Necessary, But Only First Step 9/29/08 (Center for American Progress)
- Ultimate Cost of Plan to Take Years to Determine 9/29/08 (Wall Street Journal)
- The Long And Short Of Bailout Impacts 9/26/08 (Inman News)
- House Prices And A Bailout: What Gives? 9/25/08 (Motley Fool)
- What Bailout Means For The Housing Market 9/25/2008 (Las Vegas Sun)
- Will Bailout Help the Real Estate Market 9/22/2008 (NPR)
- Bailout May Give Housing Market Some Breathing Room 9/22/2008 (LA Times)
Agents Build Strong Brand in Face of ‘doom and gloom’
September 18, 2008
Despite all the bad news lately, is it really that bad of a time to be in real estate? Consider these tidbits of good news on the housing market that we found published recently in between all the gloom and doom:
- Half of the nation’s MSAs (Metropolitan Statistical Areas) show price appreciation when refinancing appraisals are considered. (The Real Estate Bloggers)
- 35 states showed positive first quarter appreciation when compared to the same quarter of 2007. (RISMedia)
Many markets across the country seem to be stable. Why is there so much hype of gloom and doom in the housing market? A case of signal to noise ratio, say some.
How should Real Estate Agents respond to the “gloom and doom?”
So what are real estate agents to do to calm fears of home sellers in today’s market? Get their voice heard above the static. Online is obviously the place to go to make your voice heard, where any agent can reach up to 80% of its audience through the creation of a blog or website.
One important thing agents should remember during a down time is to not cut marketing spend, says GetMyHomesValue.com’s Dave Conklin. In an article published today in the online edition of RISMedia, featuring GetMyHomesValue.com, Conklin notes that even at the expense of personal income, “marketing is the last thing any business owner should cut during an industry down time.”
GetMyHomesValue.com connects real estate agents with local clients who want to discover their home value and need help with real estate services. For more information on their industry-leading suite of internet marketing services designed specifically for real estate agents, call 877-545-3237.
Real Estate Valuations - Discovery Process
September 17, 2008
After several years in your current home location, the time has come to sell and find yourself a newer (and hopefully bigger) piece of the “American Dream.” Maybe you’ve been watching the markets and realize that now is the time to refinance your home. Whatever your reason, today you have decided to find your homes value.
Who Should You Hire to Discover Your Your Homes Value?
Unfortunately, most people are not real estate professionals. Without having the knowledge of the current state of the housing market in your area, how can you truly assess the value of your home? Simple - recruit a professional real estate agent.
Why Should I Consult A Real Estate Agent?
Neighborhood sale prices and bedroom/bathroom counts are obviously important in determining how much your house is worth, but computer programs don’t have the ability to consider the “human element” of the housing market. Without hiring a real estate professional to perform your house appraisal, the only thing you can do is wonder - how much is my house worth?
GetMyHomesValue.com connects people just like you with local real estate agents who want to help you discover your true homes value and help with any real estate needs.