What is the primary reason a newly built home has a higher market value than the same home that is older? In a word, depreciation. What is depreciation? Simply stated, it is loss in value. There are three basic causes of depreciation for homes. Physical, functional, and external obsolescence. What do they indicate and how… Continue reading How Depreciation Works
Who needs an appraiser when one has cash? That's a question a good friend asked me after telling me that a home on the same street from them sold, in hours, for a much higher price than many other generally similar homes are selling for in the neighborhood. The buyers paid cash. I must admit,… Continue reading Who Needs Appraiser’s When One Has Cash?
When a rainbow appears, it can put a smile on our face. They are so beautiful! When one appears, you can be sure that images of one will appear on social media, as people share their beauty with others. Rainbows are artwork in the sky. For many, including me, they invoke happy feelings. Perhaps they… Continue reading What’s Your View?
Hello! I hope that you are enjoying the warmer weather! With the spring selling season upon us, my volume of work has been very high. So, I am grateful for guest bloggers who provide me with some great articles to share with you. I hope you've been enjoying them. I have one more this week.… Continue reading Tips for Increasing Your Home’s Value Without Spending a Fortune
On Tuesday of this week, Punxsutawney Phil saw his shadow. Therefore, we have six more weeks of winter weather, by some predictions. Somehow, I feel like six more weeks of winter is a given. Especially in Northeast Ohio. How accurate are weather predictions made by folks who try to base future weather patterns on whether… Continue reading AVM’s & Punxsutawney Phil’s Accuracy
Over the years, I have seen a lot of cracks. Big cracks, small cracks, long ones, and short ones. I've seen cracks of all different shapes and sizes. I should make it clear that I am not a crack expert. Before I go on, I should also make clear the type of cracks I am… Continue reading Be A Crack Detective
Every now and then I like to write about gross living area. (GLA) There are several reasons for this. First, it is often the sole metric by which people, who are not appraisers, use to estimate the value of their home. Second, while appraisers adjust for other features of a home, gross living area is… Continue reading Is It Gross Living Area or Not?
