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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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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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CALIFORNIA ASSOCIATION OF REALTORS®
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Delilah Fether
REALTOR®
Weichert Realtors, Gold Coast
555 Corporate Drive #101
Ladera Ranch,
CA
92694
714.907.7207
949.713.4200
Contact Me
Visit My Web Site
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Summertime Speeding By
It doesn't seem like we've had our usual sunny and warm summer, and now it's almost August and summer is speeding by. I guess we will have a warm and sunny fall instead, which is fine with me.
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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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Seven rules for room additions
If you're happy with your home and your neighborhood but are craving a little more space, maybe adding on is a better alternative to moving out. Room additions can be a terrific alternative for many homes, adding space for a growing family and adding resale value at the same time.
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Sellers face new dilemma in timing the market
Some sellers have been biding their time for three years and now wonder if they should continue to wait or bite the bullet and sell now.
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