Diane Horrigan - RE/MAX  Trinity



Posted by Diane Horrigan on 4/25/2018

Estimating the market value of your home isn't a precise science. There are several factors that go into assessing the value of a home and the process is complicated by changes in the market that can sway home prices in either direction. Since homes are so expensive and are such a huge investment, the pragmatist and worrier in us all wants it to be a clear cut decision backed up by facts. Unfortunately, no two people will ever arrive at precisely the same number for the value of a home. The good news is that you can use this ambiguity to your advantage when bargaining with prospective buyers. To learn more about the six main factors that determine a home's value, read on.

Condition

Homebuyers don't want to walk into what could be their new house and discover months of expensive repairs and upgrades waiting for them. Especially for busy, young professionals there is great appeal in a home that is move-in ready. If your home needs some work, it will knock off some digits from your asking price.

Location

We would all love to say that having a home near the ocean or the mountains is our top priority. But, let's face it--having a place that is close to your work and that is in a good school district will probably take precedence over our daydreams. Location factors that add value to your home could include close proximity to schools, shopping, highways, and other amenities. However, if your home is far away from them or is in a neighborhood that appears run-down or dangerous you will find the value of your home decreasing. An easy way to get a ballpark figure for your home value is to look up the value of other comparable homes in your neighborhood.

Age

Age is just a really expensive number. For some, buying an old home is a dream they've always had. Old homes have character and offer challenges when it comes to DIY repairs and renovations. For others, an old home means more headaches and more expensive utilities if it's drafty or outdated.

Features

Curb appeal is important, but once your prospective buyers are inside you'll have to keep them around with great, convenient household features. Lots of storage space, updated kitchens with new appliances, finished basements, or a beautiful backyard with a view can all add thousands to a home value.

Size

Square-footage is important to many homebuyers. In spite of the current trends around minimalism and being eco-friendly, the numbers show that Americans are buying increasingly larger homes and vehicles.

Market

You've probably heard the terms "buyer's market" and "seller's market" thrown around in conversations about real estate. They are essentially descriptions of the supply and demand of homes. Many buyers with few homes means you're in a seller's market, whereas a surplus of vacant homes and few prospective buyers means it's a buyer's market. This is closely tied to location, different cities and suburbs experience different rates of growth and decline depending on the local economy.




Tags: Real Estate   home   home value   value  
Categories: Real estate   Home   home value  


Posted by Diane Horrigan on 1/6/2016

Buying a home can be a scary and confusing process. It is easy to get confused by all of the homes, locations, and what is truly important to you when buying a home. First you will want to determine what you can afford. To do that you will want to get preapproved. That means a bank; mortgage broker or credit union will determine how much of loan you qualify for based on your income, debt and credit score. They will give a pre-approval letter stating how much you can afford. Now it is time to pick a real estate professional to help you find the right home, negotiate on your behalf and help you navigate through the process. It is important that you choose an agent that is reputable; you have interviewed to find a good fit and is willing to listen to your needs. Many buyers often confuse their needs with their wants. Making a list of what you actually need and what you want or your wish list is very helpful when looking for a home. Buying a home is typically a process of elimination. Many home buyers often dismiss homes that perfectly fit their needs in search for one that has their wants. This doesn’t mean you can have your wish list, but home buying is more often defined by your budget than wish lists. To help with this process it is typically helpful to make a list of needs and wants.

Examples of NEEDS Examples of WANTS
Reasonable square footage for comfortable living Paint, carpet, counter tops, accessories.
Bedrooms to accommodate your family Pool or Jacuzzi (unless for medical reasons)
Adequate number of bathrooms Wood floors
Eat-in kitchen Bay windows, skylights
Garage or basement for storage needs Entertainment centers,  moldings, decks and patios
Lot size to accommodate children's play area Upgraded lighting fixtures
Adaptation for Handicapped View
Proximity to a specific school
Single floor living for health reasons
Each individual will have a different list of needs and wants. Your own list will help you evaluate homes as you go through the process. Sharing this list with your real estate professional will also help narrow down your search. The goal is to find a house that includes all of your needs and meets as many of your wants as is practical in your budget.





Posted by Diane Horrigan on 10/14/2015

Moving can be stressful. The best way to not get overwhelmed is to have an organized plan and a step-by-step timeline. A little preparation will help make the move go a lot smoother. Here is a checklist to help keep you on track: 60 Days Before You Move

  • Sort and Purge-Go through every room, decide what needs to come with you and what can go. Make piles of things to throw away and things to donate.
  • Plan a Yard Sale-Start planning a yard sale to reduce the amount of stuff you need to move. Some extra money for the move will also come in handy.
  • Hire a Mover-Contact at least three moving companies. On-site estimates are better than over the phone or internet estimates. Get each estimate in writing, and make sure it has a USDOT (U.S. Department of Transportation) number on it.
  • Create a Moving Binder-Store all of your move-related paperwork (checklists, contracts, receipts) in a binder. You may also want to inventory all of your items with photos or lists.
Six Weeks Before Your Move
  • Get Packing Supplies-Determine how many packing supplies you’ll need and designate a room where you can begin to store and organize.
  • Take Measurements-If possible get room dimensions of your new home. Make sure large pieces of furniture will fit.  Don’t forget to take measurements for appliances too.
30 Days Before Your Move
  • Confirm with Mover-Check with your mover the details of your move.
  • Start Packing-Begin packing out-of-season clothes and unnecessary items.
  • Label-Make sure to label boxes with what rooms the boxes will go in at your new home.
  • Start/Stop Utilities-Make arrangements to connect and disconnect your cable, internet and utilities.
  • Change your Address- Contact or visit your local Post Office to obtain a Change of Address form. You can also obtain this form online at http://www.usps.com.
  • Make Notifications- Change your address to the following: registry of motor vehicles, banks, schools, friends & family, insurance companies, doctors and specialists, cell phone providers, credit card companies and magazine and newspapers.
  • Contact Service Providers—Notify landscapers, cleaning services that you are moving, and look for new ones in your new hometown.
Two Weeks Before Your Move
  • Call Locksmith- Have your new home’s locks changed on moving day or before.
  • Arrange Services- Have a cleaning company prepare the new home before you arrive and tidy the old home after you leave. Arrange for carpet cleaning too.
  • Pack the bulk of your items.
  • Start Cleaning-Begin cleaning any rooms in your house that have been emptied, such as closets, basements or attics.
One Week Before Your Move
  • Pack Suitcases- Finish your general packing a few days before your moving date. Pack suitcases for everyone in the family with enough clothes to wear for a few days.
  • Gather Keys- Organize all keys, alarm codes and garage door openers so that you can be prepared to hand them over to the new owner or real estate agent.
A Few Days Before Your Move
  • Defrost the Freezer- Empty, clean and defrost the freezer at least 24 hours before moving day.
  • Make Payment Plans- You will need to make sure you have made arrangements to pay the mover and have a tip (usually 10%-15%).
Moving Day
  • List Contact Info- Write out a list for your movers of things they’ll need: phone numbers, exact moving address and maps.
  • Take Inventory- Before the movers leave, sign the bill of lading/inventory list and keep a copy.
  • Walk-Through- Do a walk-through of your new home with your real estate agent.
  • Layout New Home- Tape names to doors to assist movers in placing furniture and boxes.
  • Have Director- Arrange for someone to direct the movers at your new home.
   





Posted by Diane Horrigan on 9/30/2015

If foreclosure is looming you may feel helpless. It is possible to still sell your home and avoid foreclosure. You must sell it quickly and that is not always easy. Here are some tips to get aggressive, and get your home sold fast. Price it right! Don't try to squeak out the extra dollar price the home aggressively among the competition. This often means pricing the house low. You are trying to sell the home as fast as possible so every last dollar isn't worth it at this point. Make sure to get real about what your home is worth. A Comparative Market Analysis (CMA) will outline properties similar to yours that have that recently sold, are pending and are currently on the market. Some experts suggest going 10% below that last sold price in your neighborhood. Communicate with your lender. You will need to get the go ahead from your lender on how low you can go. If you owe more than your home is worth complete a short sale application with your lender. Ask your lender to give you some indication of how low a sale price they will accept. Selling your home quickly and avoiding the black mark of foreclosure on your credit report is the goal. It may be hard to accept thousands less than what you paid for your home but you will be better off in the long run.





Posted by Diane Horrigan on 9/23/2015

When it comes to searching for a home, there are a lot of factors that you have to consider. This is especially the case if you are shopping for condos, as you will be sharing a lot of common space with your neighbors as well. The first thing to look into is the overall interactivity that goes on within the block of condos you are considering to make your home. In most cases, it is always better to find a condo that has an interactive community, because this in turn means that you never have to worry that someone might not be doing their part in keeping the block of properties maintained and in good condition. One thing to be careful of is that some communities do not allow pets, and so if you are looking for a condo for you and your pets, then you need to make sure that the community has no problem with this. In the end, you have to find a condo that is able to be comfortable to live in, and where there is the least amount of stress. While it can be very beneficial to live in a community, it can at times be stressful if you are not one to go by strenuous rules. For some people, the idea of owning a home means that they have the freedom of choice to do what they want in their property. One of the most important things to look into when buying a condo is the condo fees. What are they and what will they be down the road? Are they set condo fees, or could they become too costly to pay down the road? Some condos fees go up to the point that makes the great price you got on the condo not look so great because of what you are paying in taxes and condo fees. One of pluses of a condo is no maintenance and a lot of people really like that especially in your later years when you don’t want to mow the lawn or shovel the sidewalks. A condo is a great option for many buyers and you can generally get into a condo for a fair price.