Everything Real Estate

Thursday, August 13, 2015

HOW MUCH IS MY HOME WORTH? TOP HOME VALUATION TOOLS

As a Real Estate Agent, I am constantly using the local MLS listings to create personalized CMA (comparative analysis reports) and Home Valuations for my clients. Not only do these reports help homeowners determine what they can get for their home....but, it also helps home buyers determine what they want to offer for a home.

I encourage people to contact a local agent in order to determine a valuation of a property. This will give you the best idea of what your home is worth, based on local comparable properties that have sold within the past six months. But, if you want to go online and get an instant "idea" of what a home is worth in today's market, I recommend these top Home Valuation sites:

1. ZipRealty.com

Ziprealty.com claims to you up to 30% more homes for sale than other websites. Sign in to save your favorite homes and searches!

2. RealEstateABC.com

This Site offers FREE Home Value & Sales Comps

Instant, ONLINE ABC Values^TM & Sales Comps

3. eppraisal.com

is a free real estate and home value website that aggregates data on recent home sales, neighborhoods, and local market data to help you in your real estate search.

4. Realtor.com

Prices of new listings -What homes sold for near you. Trends showing if prices are rising...

How long it takes to sell in your area...

Data indicating if it's a good time to buy.

5. Redfin.com

Your estimate is powered by real-time home sale prices, details, and photos.

6. Zillow.com

The Zestimate home valuation is Zillow's estimated market value for a home, computed using a proprietary formula.

7. Trulia.com

Very similiar to Zillow's Zestimate, but presented in a different format.

8. Chase Home Value Estimator

Use the Chase Home Value Estimator to get a free estimated market value of your home or a home you are interested in. The site calculates the best estimated home valuation using the millions of home records in their database.

9. HouseFax.com

Unlike the other previous home valuation sites, this site requires payment. But, they offer your first report for FREE. The report gives an assessment of house value depending on insurance, fire accidents, building permits and loan history.

10. HouseValues.com

Fast and Free Home Valuation Report. Pretty simple.

11. Movoto Free Home Value Analysis -

With Movoto, you can easily download an instant comparable home report by simply supplying the house information in the form given by them.

12. HomeInsight’s Property Value Check

All you have to do is type in your zip code in order to view the current home prices in a specific area.

13. FINDCompsNOW Free Sales Comparables

FindComps uses comparable market analysis that allows the owner to determine the estimate value of his house. Categories include cash buyers, lenders and retail values.

14. PropertyValuesbyAddress.com

This site will give you the best and most accurate valuation of your home because these valuations are created by local agents. There is no obligation and it is completely FREE!

Emily Benner

REAL Estate Expert

PalmerHouse Properties

678.458.2284

Click here and I will send you a personalized FREE Comparative Market Analysis (Home Valuation) of your home. We can start there. I will also send you updated monthly market information.

Click Here to Get a FREE Home Valuation Report

HOW TO DETERMINE WHEN TO SELL YOUR HOME

WHAT THE HECK IS A SELLER’S MARKET?

There are no better words in the English dictionary that can make a home owner do their infamous happy dance than these four little words: “it’s a seller’s market”.

So….you ask….how do you know if it really is a seller’s market and what exactly does that mean?

I’m going to bring you back to ECON 101 for a moment. Remember when your professor spent two weeks explaining the concept of supply and demand? Well, I hope you took notes.

In a seller’s market, there are fewer homes for sale with more buyers out there looking to purchase. The factors that lead to more buyers in the market could be: sustained low interest rates, high employment rate, legislative changes which make it easier to purchase a property – events and conditions that make buyers think it would be a good time to invest in a home.

In my experience, there are some advantages to the sellers in this kind of market. Typically, home prices will rise, buyers will quickly make offers and sometimes, buyers will compete for a property. This can lead to a bidding war, ultimately driving the price of the home up above expectations

Now on to your next question. How do I, as a potential seller, know when it really is a seller’s market?

HOW TO RECOGNIZE A SELLER’S MARKET

It’s pretty simple actually. If houses are selling quickly for their actual value or above…then, it’s a seller’s market.

But, how do you know when to list and when it will be a seller’s market?

It’s all about projection. There are a group of people sitting in a padded room that study the local market day in and day out. Very patient people, indeed.

This is the forecast that they have come up with for the Metro Atlanta Market:

They project that Metro Atlanta home sales will rise over 10% in 2015.

This is my forecast: Rates are lower than ever and homebuyers are out looking. Despite the cold…..getting your home listed this winter, before everybody starts listing in Spring time, will give you an advantage.

Let’s do this. Click here and I will send you a personalized FREE Comparative Market Analysis (Home Valuation) of your home. We can start there. I will also send you updated monthly market information.

As I always say, “an informed homeowner makes a happy home seller.”

Here’s to being informed!

Emily Benner

REAL Estate Expert

PalmerHouse Properties

678.458.2284

Click here and I will send you a personalized FREE Comparative Market Analysis (Home Valuation) of your home. We can start there. I will also send you updated monthly market information.

Wednesday, August 12, 2015

Radon. Get Your Home Tested.

For those of us who got through high school, and maybe college Chemistry by the skin of our teeth, we may not be experts on poisonous gases. Never in a million years, as a first time home-buyer, would I have thought to have my home tested for Radon before I made the purchase. Now, it's a daily routine for home inspectors worldwide. First and foremost....what exactly is this Radon that has created such a hype?

What the HECK is Radon?

Well, in a nutshell, Radon is a poisonous gas that comes from soil, rock and even water. When Uranium is broken down, a gas is produced that can, at certain levels, be toxic to inhale. This gas enters homes through cracks and holes in the home's foundation.

Why Is Radon Deadly?

Radon gas, if inhaled at high enough levels for long enough, can cause lung cancer. So, basically, Radon is a cancer-causing gas. Scary...I know. Now, here are the scary facts:

Radon is estimated to cause about 21,000 lung cancer deaths per year, according to EPA's 2003 Assessment of Risks from Radon in Homes (EPA 402-R-03-003).

What are the Odds?

So, what are the odds of living in a house with elevated Radon levels you may ask? Well, according to the US EPA, "Nearly 1 out of every 15 homes in the United States is estimated to have an elevated radon level (4 pCi/L or more)."

Holy Crud!!! So, basically, the EPA is saying that you have a 7% chance of living in a home with toxic Radon fumes. That's 7% higher than I would want to chance.

But...the good thing about all of this, is that a Radon problem can be fixed.

How to Test and Fix the Problem

The EPA suggests testing all floors of home below the third for Radon gases. ESPECIALLY the basement. You can either hire a professional home inspector or a more specific Radon testing company...or, go to your local Lowes or Home Depot store and purchase a DIY kit for around twenty bucks. Either way, the results seem to be accurate. In my experience that is.

Now...how on earth do you get that nasty gas out of your home? I'm glad you asked. There are a few different ways, but, this guide will tell you everything you need to know for Radon removal: http://www.epa.gov/radon/pubs/consguid.html

Moral of This Radon Story

So, if you are planning on buying or selling a home..PLEASE have the home tested for Radon. There are more homes in our area that are harboring this poisonous gas, especially in Fulton and Gwinnett Counties. check out this local site to get more information: http://www.epa.gov/radon/states/georgia.html

Emily Benner

REAL Estate Expert

PalmerHouse Properties

678.458.2284

6 Best Home Improvements to Help Sell Your Home

When it comes to selling your home, there are easy and inexpensive ways to make improvements that will help it sell fast!

According to experts, a homeowner should commit to spending around 1 to 2 percent of the home's value for home improvement costs. That means, for a $200,000 home, a seller would spend between $2,000 to $4,000 on pre-sale upgrades.

So, what are the most effective improvements to make pre-sale? Well, I'm glad you asked.

1. KITCHEN

The most cost-effective kitchen improvement is to repaint or restain the cabinets. Also, adding new matching hardware to cabinets and drawers will add a huge amount of kitchen curb appeal. If you have the money, replace any unmatched appliances.

2. BATHROOMS

Replacing those old, worn out toilet seats can be the first step to making the home more appealing and clean. Also, if the grout is cracking or dirty, replace that as well. If you can't afford new cabinets, painting them, as well as installing updated knobs will make the bathroom look 100 times better. Also, if you can afford to put in new flooring, please go with tile. Laminate and carpet in the bathroom will only lead to future issues. New shower heads and shelving for added storage are also added perks!

3. INTERIOR PAINT/DOORS

A new layer of neutral colored paint can transform a home. Also, it makes everything seem new and clean. New crown molding is great eye candy, especially if it is painted the same color as the walls, which will make the walls appear taller. Replacing the interior doors and doorknobs is a great way to improve the look of the home. Getting rid of the cheap plywood doors and going with something heavier and and solid will bring that wow factor.

4. FLOORING

Installing new flooring, inexpensive carpet or economy hardwoods, will make any home look better. Also, it will give the buyers a load-off, knowing that they will not have to do it themselves.

5. LIGHT FIXTURES AND CEILING FANS

Getting rid of those outdated brass fans and lighting fixtures, and replacing them with less expensive brushed nickel or bronze fixtures from Home Depot or Lowes (which I believe has a better selection). Track lighting or recessed lighting is also a good choice, especially in the kitchen. This is the first thing I did when I purchased my home and it updated it incredibly!

6. LANDSCAPING AND EXTERIOR

The oustside curb appeal can mean everything. I've had clients who wouldn't even get out of the car when they disliked the outside look of a home. A few low-cost ideas are to pull out weeds, mow the lawn, and cut back overgrown trees or shrubs. Other home improvements include adding fresh mulch, planting a couple of rose bushes in your front flower garden, or lining the entryway with a colorful assortment of flowers in pots. And, as any Georgian can attest to, pressure washing any clay stains/mildew on the side of the home or driveway can make for better curb appeal as well.

According to Renovation's Cost vs Value study, these are the renovations that will give you the biggest bang for your buck - as well as projects that generate the lowest return.

Renovations that bring the greatest percentage return on investment:

Entry door replacement: 96.6 percent
Deck addition (wood): 87.4 percent
Attic bedroom: 84.3 percent
Garage door replacement: 83.7 percent
Minor kitchen remodel: 82.7 percent

Renovations that yield the smallest return:

Home office remodel: 48.9 percent
Sunroom addition: 51.7 percent
Bathroom addition: 60.1 percent
Backup power generation: 67.5 percent
Master suite addition: 67.5 percent

These are just some ideas I've learned that have worked over the years. If you are interested in inside staging for your home, please look forward to my post tomorrow that will give you DIY ideas on how to stage your home and sell it fast!

Emily Benner

REAL Estate Expert

PalmerHouse Properties

678.458.2284

Click Here to Get Your FREE Property Valuation

6 Reasons Why Your House Isn't Selling

What an exciting moment. The day when you hire your Realtor. Sign the paperwork. Shake hands. Look out your window to gaze upon that flashy "For Sale" sign in your yard. Oh, those directionals on every corner of the neighborhood. So exhilarating. Pure chills. Then, even more exciting...those first inquiries. The first showings of your home. The first open house. The first second showings. The first low-ball offers. Everything seems like it's falling into place. Everything is AWESOME. You should be signing papers at that closing table in no time.

But then, it happens. Nothing. The calls stop coming in. Showings are a thing of the past. Days turn into weeks, weeks turn into months. Your house just sits. And, the longer a house sits on the market, the more it gets stigmatized. People begin to wonder what's wrong with the place? Why isn't it selling?

If you don't want your home to be the sitting duck, read on to determine the reasons why your home isn't SELLING.

1. That Home is Priced for WHAT? What Were They Thinking?

I cannot stress this point more....price is what sells a home. In order to determine a price to put on the price tag of a home, a Realtor will compare your home to what's selling in the current market. The condition of the home, as well as the location are both very important factors that affect the price. So, why do sellers price their homes so high to begin with? Well, of course EVERYBODY wants to get the most for their home. Also, some people are so underwater, that they can't afford to price it for less. The good thing about this being the main factor why your home is sitting, it's an easy, quick fix. Lower the price, and they will come. The buyers of course.

If you want to see what the market is pricing your home at, click here to get a FREE Home Pricing Valuation of your home.

2. Tacky or Dated Decor

You know that wallpaper that looks as if a flower threw up in your bathroom? Or, that brass ceiling fan that's missing one of it's wicker blades? These are the things I'm talking about. There is nothing worse than walking into a BEAUTIFUL home, only to realize that you've walked into a 90's time capsule.

Ring, Ring. The 90's just called and wants their decor back.

With that said, invite friends over and have a "ripping that wallpaper down like it's your job" party. It could be fun. But, it definitely will help you sell that home.

3. The Condition of the Home

If a home looks like it will need a lot of money invested into it, then, that investment will ultimately come off of the offering price. I recommend to all of my sellers, that they have a professional home inspector come in and inspect the home. Then, they invest some time and money into repairing what was found in the report. This means everything to a potential buyer. It can also help warrant your home as "pre-certified". Find out about our Pre-Certification Program by calling me at 678-458-2284.

Also, a home that smells like pet urine or mold will not sell for top-dollar. So, eliminate those smells by ANY means possible.

4. Bad Location

The other day, I was driving around a luxury neighborhood in Milton. I mean, these homes are AMAZING. Anyway, there was this one home that was sitting up on a hill. It was beautiful. Something I could only dream about living in. Then, I looked to my right and saw...drumroll...huge power lines. NOOOOOOOOO! I hate to see bad location happen to good homes.

Homes that are close to a power plant, waste-treatment facility or busy freeway will often sit, unless the seller is willing to take a major hit on the price. A previous buyer I was working with explained to me that they had to sell their home $100,000 less than their neighbors' because of it's close proximity to a landfill.

So, location, location, location does still pertain to our home market.

5. Your Listing Photos

Over 98% of home-searchers are searching online. So, the listing photos will be their first representation of your home. And, unfortunately, some agents don't take or provide professional/appealing pictures of the home. There is nothing worse than that MLS picture of the living room with somebody's foot in the corner. Or, that sideways, upside, inside-out picture of the front of the home. Nothing worse.

6. A Luxury Listing Among Humble Homes
This is another location issue, but, it's not the landfill or local water treatment company you have to worry about. It's the smaller, less expensive homes around you. When you have a luxury home, surrounded by less valuable properties, your home, therefore, becomes less valuable. For instance, when different builders build in the same subdivision, the homes will variate. The quality, the construction, the size. But, unfortunately, these homes will be considered comparable when it comes down to pricing and appraisal time.

I was reading a story online about a home in NY that was originally listed at $799,900. It sat on the market for over 3 years and is now priced at $579,000, a step closer to the ranch homes around it, which are selling in the low- to mid-$200,000 range.

Find out what comparables have sold in your neighborhood by requesting a free CMA of your home here.

So, here is my advice on getting your home sold for top dollar. Obviously, you can't control the market. You can't control your comparables. You can't control your location. But, you CAN do the following to help your home sell fast:

Be Realistic About Price
Keep the Colors of the Walls inside Neutral and update as much decor as your wallet allows
Be Picky About the Photos
Invest in an Appraisal and Home Inspector

Most IMPORTANTLY...Hire an Aggressive/Knowledgeable/Determined Realtor. One, that has an aggressive Marketing Plan, who invests in home staging/professional photography and who prices the home right from the get-go.

There's nothing better for a seller, than getting their home under contract before expected. In this case, before the neutral paint dries.

Emily Benner
Real Estate Expert Palmerhouse Properties

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