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Assessed vs. market value
DEAR BENNY: In 2006, the assessed value of my house had climbed to $756,000 and then dropped to $714,000, trailing the declining market. I filed an abatement based on erroneous information that my town was using, and was successful. My house was reassessed at $531,300, very close to my suggested valuation.
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Tips on remodeling to sell
Q: We are planning to sell our home next year. We tried the easiest route to brighten up the kitchen: Painting the dark wood cabinets a lighter color, as we have a faux wood laminate countertop. We went with a two-toned effect, with the cabinets done in white and the doors and drawers done in a semigloss beige. It does not look all that great and the doors stick: What would you suggest?
Also, the drawers are an odd rail system with a wheel on an arm at the back of the drawer that hooks into the rail above the drawer -- they always come off and stick horribly. Any advice would be wonderful and highly appreciated, as we are on a very tight budget.
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Sizing up purchase deposits
In most states, it's customary, or required by law, for the buyers to include a good faith deposit when they make an offer to purchase a home. The deposit should not be given directly to the seller, but held by a trustworthy third party that maintains a trust account specifically for home purchase deposits, such as an escrow company.
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It still pays to remodel
The home-sale market has taken a beating in the last few years, which begs the question: Does it makes sense financially to invest in home improvements?
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Fixing to sell: Don't go overboard
Fixer-uppers with upside potential were in high demand when the market was appreciating at a fast pace. Once depreciation took over, speculators disappeared until 2009, when low-end foreclosure properties in some areas became hot properties -- particularly if they were selling at a 50 percent discount from the peak in summer 2006.
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Not all buyers are worth a counteroffer
After mustering the emotional energy to make an offer on a listing, it can be devastating if you hear nothing back from the seller.
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Six ways to boost curb appeal
If you're thinking of listing your home this spring, now is the time to be thinking about one of the most important elements of real estate marketing: Curb appeal. It's your one and only chance to make a first impression on a potential buyer, so make it a good one! Here are some suggestions to make your home stand out from the rest:
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Appraisal rules tough on additions
Recently a homeowner in the hills above Oakland, Calif., applied for a refinance. An appraiser visited the property and measured both levels of the house. The appraiser called the homeowner a few days later to find out if the lower level had been added with a permit. The public record indicated the house had three bedrooms, two bathrooms, and 1,513-square feet.
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