Who Determines Home Value? Find Out Now! ð ð° Have you ever wondered, who really decides the value of your home? Is it the market? The appraiser? The buyer? The answer might surprise you! Understanding the factors that determine home value is essential, whether you’re selling, buying, or simply staying informed about the real estate market. Let’s dive into why home values have surged in recent years and break down the key differences between home price and home value. What is Home Value? Home value is the estimated worth of a property based on various factors, including location, size, condition, and market demand. It’s influenced by: Market Trends: Local real estate trends and buyer activity. Comparables (Comps): Recently sold homes with similar features. Appraisals: Professional evaluations... Read more
Tag: Selling Your Home
The Most Common Seller Home Improvements
Maximizing Value: The Most Common Seller Improvements Selling your home can be an exciting but challenging process, especially if you want to maximize its value in today’s competitive market. This chart highlights the most common home improvements sellers make to attract buyers and increase their chances of selling quickly and for the best price. Each improvement has its unique impact, and understanding these trends can help you prioritize your efforts effectively. 1. Paint the Interior of the Home (46%) One of the simplest yet most impactful upgrades you can make is painting the interior. Fresh, neutral colors create a clean and modern look that appeals to a wide range of buyers. It’s a cost-effective way to make your home feel new and inviting without breaking... Read more
Should You Sell Your Home Now? Making the Move
Should You Sell Your Home Now? Making the Move Deciding to sell your home is a major financial and emotional decision, especially in today’s ever-evolving real estate market. Questions about the timing, financial implications, and whether you'll find your next dream home often linger, causing hesitation. This detailed guide will address these concerns and help you make an informed decision about selling your property. Why Selling Now Could Be a Great Opportunity One of the primary hesitations homeowners have about selling is the thought of taking on a higher mortgage rate for their next home. While this concern is valid, it’s essential to focus on one critical financial tool you likely already have: equity. What Is Home Equity? Home equity is the difference between your... Read more
Selling Your Home in Winter
Selling Your Home in Winter: What You Should Know and How to Prepare Learn how to successfully sell your home in winter. Discover essential tips for preparing your home, overcoming seasonal challenges, and attracting motivated buyers. Selling a home in winter can present unique challenges, but it also comes with distinct advantages. While the colder months may bring fewer buyers, the ones looking are often more motivated. To make the most of a winter sale, it’s essential to understand market dynamics and prepare your property to stand out. This guide offers key insights into selling your home in winter, along with tips on how to make it appealing, comfortable, and market-ready. Why Selling in Winter Can Be Advantageous Many people believe that spring or summer... Read more
Preparing Your Home for Sale
Preparing Your Home for Sale When selling your home, first impressions are everything. Buyers often make snap judgments based on what they see and feel during their first visit. To ensure your home sells quickly and for the best price, it’s essential to prepare it properly. In this article, we’ll break down the key steps you need to take to get your home market-ready and why working with an expert like Danny Skelly can make all the difference. Declutter and Depersonalize Your Space The first step in preparing your home for sale is to declutter and depersonalize it. Buyers need to imagine themselves living in your home, and it can be hard for them to do that if they’re distracted by personal items like family... Read more
Role of a Seller’s Agent: Why You Need One When Selling Your Home
Role of a Seller's Agent: Why You Need One When Selling Your Home When selling your home, one of the most important decisions you'll make is whether or not to enlist the help of a real estate agent—specifically, a seller's (listing) agent. A seller's agent plays a vital role in ensuring that your home sells for the best possible price, within your desired timeline, and without any unnecessary complications. But what exactly does a seller's agent do, and how can they benefit you as a home seller? Let’s break it down. 1. Helping You Get the Best Possible Price for Your Home The main goal of a seller's agent is to help you get the best possible price for your home. With their in-depth knowledge... Read more
Does a Nice View Add Value to My Home?
Does a Nice View Add Value to My Home? Does a Nice View Add Value When selling a home, many sellers assume that a nice mountain or city view will significantly increase the property's value. While there’s no denying that a scenic view enhances a home’s appeal, it doesn’t always lead to a proportional rise in market value. Various factors, such as buyer preferences, location, and potential maintenance, influence whether or not a view will positively impact a home's price. In this article, we will explore why a nice view doesn’t always add substantial monetary value to a property. The Subjectivity of a "Great View" One of the primary reasons a nice view doesn’t always equate to a higher price is its subjective nature. Buyers’... Read more
Loans Available to Buy a Home
Loans Available to Buy a Home: A Comprehensive Guide There are tons of things to think about when considering purchasing a home, understanding the types of loans available is always crucial. With the housing market fluctuating and interest rates constantly changing, knowing your financing options can significantly impact your purchasing power and long-term financial health. The good news is there is almost always the ability to refinance (almost always not ALWAYS there are things to consider but it really is a good option to remove that fear). This article provides a detailed overview of the various loan types available for homebuyers, offering insights into the benefits, drawbacks, and suitability of each type based on the most recent trends and data. By the end of this... Read more
What the NAR Settlement Means for Home Sellers
What the NAR Settlement Means for Home Sellers: Key Insights NAR Settlement for Home Sellers: Selling a home involves many decisions, and having the right guidance is essential. Agents who are REALTORS® are trusted professionals who can help you navigate the complexities of the selling process. The recent settlement by the National Association of REALTORS® (NAR) has introduced several changes related to broker commissions that are important for sellers to understand. Here’s a clear breakdown of what these changes mean for you as a home seller. 1. Key Changes for Home Sellers The NAR settlement has resulted in specific updates that impact how sellers interact with buyer brokers and manage commissions. Here’s what you need to know: Offering Compensation to Buyer Brokers: As a seller,... Read more
What Buyers Are Looking for in a Home in 2024-25
What Buyers Are Looking for in a Home in 2024-25 I have been in real estate for a long time. One thing for sure is the real estate market is always shifting, and 2024 is no different. As we step further into the digital age, homebuyers' expectations have evolved dramatically. Whether you’re a first-time buyer, an investor, or a seller, understanding the key trends shaping the market is essential. Let’s dive into the top features and factors buyers are prioritizing this year. Buyers Are Looking for Sustainability and Eco-Friendly Features Buyers want Energy Efficiency In 2024, energy efficiency is more than just a nice-to-have—it's a necessity. Buyers are increasingly aware of their carbon footprint, and they’re looking for homes equipped with solar panels, energy-efficient appliances,... Read more