How to Maximize Your Home’s Appraisal Value

How to Maximize Your Home’s Appraisal Value

One of the most important elements of pricing your home to sell is your appraisal value. Both buyers and their lenders want to know your home is worth the price tag. So how can you maximize your home’s appraisal value? There are eight simple, yet effective ways to getting a higher value. 

Step 1:Make sure your home is clean and offers great curbside appeal. 
First impressions are important. Make sure to maintain your landscaping. Remove your cars from the driveway to reduce the appearance of clutter. 

Step 2: Keep and Maintain an itemized list of all updates and upgrades you’ve done to your home.
Be prepared to show the money you’ve invested to increase your home value. 

Step 3: Do your homework.
Keep comps on hand of homes similar to yours to show the appraiser. Every bit of information helps increase your appraisal value. 

Step 4: Pay attention to the improvements that will increase your home’s value.
There are certain upgrades you can do that increase your value and yield better returns on investment: hardwood floors, lighting, plumbing fixtures, kitchen and bathrooms. 

Step 5: Always apply the $500 rule. 
Any repairs that cost more than $500 actually account against your home’s value. Fix what needs to be fixed, such as broken windows or any structural damage. 

Step 6: Play up your location.
If there have been any recent changes to the neighborhood such as a new school, retail store or if your home is near a landmark, make sure to mention it to the appraiser.

Step 7: Make the appraiser feel at home.
This is one of the most important steps. Make sure the home is at a comfortable temperature. If you have a pet, board it for the day. 

Step 8: Ask questions after the appraiser has appraised your home. 
I know you may get excited or anxious to talk to the appraiser while they are inspecting your home, but wait. Don’t follow the appraiser around your home. They are there to do their job; let them do it. Once they have completed the appraisal, you can ask your questions. 

If you’re thinking about making improvements to your home, make sure you don’t ‘over-improve.’ Call me and we can discuss what repairs your home actually needs. Your home should match your neighborhood’s environment.

If you have any questions about how to maximize your home’s appraisal value or if you need referrals for some great appraisers, call me. I’m here to be your real estate resource.

Why A Trust?

Why A Trust?

Hey, everyone! Welcome back to my video blog! Today, I wanted to talk about trusts and why they are preferred over wills.

So, what is a trust? A trust divides ownership of a property into two parts.
1.    Trustee. The trustee holds ownership and control of the property.
2.    Beneficiary. The beneficiary holds the soul right of the enjoyment of the property.

Did you know that often trusts are preferred over wills when ensuring the orderly transfer of property in case of a death? Trusts can be executed immediately and can handle a variety of different circumstances. If you are injured or become incapacitated, a trustee can take over your finances.

Another great thing about trusts is the assets such as personal property are not subject to probate proceedings. This is a HUGE relief in avoiding expensive fees from both attorneys and probate court.

Trusts can also be changed much easier than a will. One simple notarized page from both the trustee and beneficiary is all it takes!

The BEST part about a trust, though, is getting favorable tax treatment! If you have a personal net worth of $100,000 or more, a trust will maximize your estate tax exemptions. It will also ensure at the time of your death, your heirs can inherit the estate and avoid any penalties and fees from our good friends, the IRS.

Take it from me. You don’t want your loved one to lose their home at the time of death to the state due to lack of estate preparation.

As, always if you ever know of a friend, a coworker, relative or even a friend on a social media site that is interested in buying or selling a property, connect with me today!

Should You List Your Home in the Fall?

Should You List Your Home in the Fall?

A lot of people have asked me whether the fall is a good time to buy or sell. Should they wait until spring?

The answer is no! Fall is a great time to buy and sell. While we typically see more sales during the summer months, we also have more inventory.

The fall is a market of serious buyers and sellers. It is a great time to sell because inventory drops and there is less competition. Buyers are serious; maybe they are relocating or they just sold their home and need a replacement. There is a sense of urgency and home sells quickly.

If you are thinking about selling, do it now. We expect inventory to increase during the spring and you don’t want to wait for more competition. Give me a call at 626.780.2705 and I can help you with your buying or selling needs. Thanks for watching!