What are some potential reasons why a home buyer may later regret their purchase? In this article I discuss some things to think about that may help avoid home buyer remorse.
I hope you all are doing great this week! My family and I are in the midst of a first floor renovation, whilst caring for my wife as she continues to recover from her broken ankle, as I mentioned in my last post. So, I am grateful to have guest blogger, Seth Murphy, who wrote… Continue reading 4 Home Repairs You Need to Hand Over to a Professional
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
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
In the appraisal process, we make a lot of assumptions. We assume that there are no major repairs needed to a home, if there is no readily observable evidence that might suggest otherwise. Our scope of work has much to do with the assumptions that we may make. Assumption are made on every appraisal because… Continue reading The Most Important Assumption in My Appraisal Career
On a regular basis, I appraise homes that need some type of repair. It may be as simple as replacing an outlet, or as complicated as renovating a home. In the appraisal process, the appraiser has to estimate a cost to cure many types of repairs. Why do appraisers use the term, cost to "cure",… Continue reading How Cost To Cure Works
Thinking of renovating your home? Is it possible to over-spend, while not over-improving a home? I discuss this topic in this article.