January, 2017

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Rocker Steve Miller Sued for Ditching $6.7M Mansion

Realtor

Mike Coppola/Getty Images Rocker Steve Miller ‘s a joker, backing out of buying a $6.7 million mansion in Dutchess County at the last minute and leaving the owner in a lurch, a new Manhattan federal lawsuit says. The “Fly Like an Eagle” and “Joker” singer had ponied up a $670,000 down payment to buy the Lagrangeville home of former Toys “R” Us CEO John Eyler — but reneged on the eve of the closing in December after an appraisal “greatly undervalued” the house at $4.3 million, the suit says.

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Do appraisals take into account home renovations? To what extent?

Realvals

There are always pros and cons with any home renovation. The biggest pro is that your home always looks way better, and the biggest con is that it always costs too much money. Renovation pros and cons also apply when it comes to home appraisals. Renovations give your home the added value, but never as much as you spent on the renovations in the first place.

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How Does Lot Size Impact Property Value?

CP Home Appraisals

Homeowners who have larger lots than other lots in their area want to know if the value of their home would be substantially more. If a specific lot is approximately 3,000 to 5,000 square feet larger than other lots, it should have an appraised value that is greater. The more important questions is by how much? Researching other homes with larger lots and then comparing them to homes with smaller sized lots, will give you a pretty good idea of what the market is agreeable to pay.

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How to Negotiate Repairs After a Home Inspection

Zillow

Most would-be buyers and sellers believe the real estate "deal" is done at the signing of the contract. In many cases, the deal-making and negotiations only start at the contract signing. Even in more competitive real estate markets, negotiations still happen once in escrow. Issues typically arise after the home inspection, and those issues tend to result in another round of negotiations for credits or fixes.

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Chicago Residential Lease for 2017

Chicagoland Appraisal Blog

The Chicago Association of Realtors has released the 2017 Chicago Residential Lease for apartments, condominiums, single-family homes, and townhomes. In their post from January 4, 2017, the updated 2017 Chicago residential lease with the new security deposit interest rates can found. It does not include an updated lease for the suburbs and disclosure forms for lead-based paint, mold, radon, heat, security deposit and lease applications.

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Rocker Steve Miller Sued for Ditching $6.7M Mansion

Realtor

Mike Coppola/Getty Images Rocker Steve Miller ‘s a joker, backing out of buying a $6.7 million mansion in Dutchess County at the last minute and leaving the owner in a lurch, a new Manhattan federal lawsuit says. The “Fly Like an Eagle” and “Joker” singer had ponied up a $670,000 down payment to buy the Lagrangeville home of former Toys “R” Us CEO John Eyler — but reneged on the eve of the closing in December after an appraisal “greatly undervalued” the house at $4.3 million, the suit says.

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The Home Appraisal Checklist Form [Digital and Printable]

Realvals

I’m often asked by homeowners if there is anything they need to do to prepare for the home inspection. I usually inform them to clean up a little and gather any information they have on the property. However, if you want to get the most value out of your home, there is a home appraisal checklist to follow. While most of these are not required (Except for the installation section), they all can help to boost your home’s value on an appraisal.

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How Does Lot Size Impact Property Value?

CP Home Appraisals

Homeowners who have larger lots than other lots in their area want to know if the value of their home would be substantially more. If a specific lot is approximately 3,000 to 5,000 square feet larger than other lots, it should have an appraised value that is greater. The more important questions is by how much? Researching other homes with larger lots and then comparing them to homes with smaller sized lots, will give you a pretty good idea of what the market is agreeable to pay.

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Ready to Buy in Orange County? These Are the Cities You Can Afford

Realvals

Some of the first concerns that come to mind when looking for a new home are the budget and how far that budget will go. Since you’re most likely not a billionaire, knowing what cities you can afford is important. To celebrate the New Year and the launch of our real estate appraisal business , we figured we would help out. We wanted to put this concern into perspective for our home turf of Orange County, California.