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
Is it possible for a home with a considerably smaller lot actually have a higher value than one with more land? Yes! I explain how this can happen in this article.