Tag Archives: Property Value

5 Reasons to Select the Right Real Estate Appraiser

When do you need an appraiser? For many people, it just doesn’t occur to them a professional appraisal service would ever be needed for anything that would come up in their lives. Unfortunately, many of these individuals learn that they require appraisal services well before they understand how to choose the right appraiser.

If you’re wondering why you might require a real estate appraiser Blue Ridge GA, here is a list of five reasons why you might need to choose such a professional in the near future:

#1 — A Divorce Settlement

Marriages don’t always live up to the promises that were said on the wedding day, and an appraiser can help when it comes to determining the actual value of a property. This is a difficult process, but a professional real estate appraiser can make a huge difference!

#2 — Selling a Home

When tens or hundreds of thousands of dollars are on the line, a professional real estate appraiser can step in and provide crucial insights as they evaluate a home’s true value.

#3 — Bankruptcy

Hopefully, you never have to go through this process, but if you do, you’ll be glad to have a real estate appraiser in your corner to help you ensure that values are reported accurately and in a way that helps you move forward into a better future.

#4 — Home Measurement

Property measurements are often “off” by more than 25%! That’s why it’s so important to enlist the services of an appraiser who can provide an accurate measurement.

#5 — Tax Assessment Appeals

Do you feel that your North Georgia home has been overvalued? An appraiser can help you make your case if you determine that an appeal is appropriate.

Hire The Best Real Estate Appraiser Blue Ridge GA Has to Offer

As you can see, there are many reasons for hiring an appraiser, so when the time comes, be sure to hire one you can trust!

Mortgage Help Foreclosure: Stop Foreclosure Mortgage Help

If you want stop foreclosure mortgage help, there are three questions you will want to answer for yourself: 1. How much would it cost to rent instead of own? 2. How much can I afford in housing costs right now? 3. Where is my equity going? Increasing or decreasing? Notice that these are business questions. I don’t want you to think of your house romantically or emotionally for a moment. We are going to think of your house in a business sense, and to stop foreclosure, or do a short sale, or move out, or keep it…these are business questions for the remainder of this article.

So first, let’s talk about the rent versus own question. In some areas, you can rent the same house as it would cost to own. And by cost to own, I am talking about PITI+M, or Principal, Interest, Taxes, Insurance, plus maintenance. The midwest is like that. In those areas, it pays to own a house right now, or it can pay in some cases. But in other areas, like where I live near Washington DC, the cost of renting is about one third of the costs of owning.

H.R. 3648 provides for a 3 year suspension of traditional tax treatment on forgiven debt from a foreclosure (1/1/07 through 12/31/09). It is estimated that this law will save foreclosure victims up to $600 million in tax over the life of the law. It is retroactive to the start of 07 but not for prior years. The law applies not only to foreclosure, but to loan renegotiation and workout plans that may include some partial reduction of debt.

Up to $2 million of forgiven indebtedness on a qualified home are eligible for exclusion under the new law. However, it is only for debt related to the acquisition, construction, or substantial improvement of a qualified residence. Homeowners who “cashed out” their equity to pay other bills or for non-home related items and are now facing foreclosure do not qualify for the exclusion. They will still face a potential tax bill unless qualified under the provisions of IRS Code Sec 108 for insolvency or bankruptcy.

Many times you can only sell if you do a short sale, but then you are out from under. And if you really want to buy another house, and not rent, then you can have your choice to buy houses with little or no money down and no qualifying. These deals are plentiful in many areas of the country. The real critical questions are what you need to answer for yourself. The rest is fairly easy if you can be realistic about what you can afford, whether to rent or own, and where house prices are going.

Learn more about Obama Mortgage Relief Plan Qualifications.

Home Improvement Ideas

There are many home improvement projects that you can carry out to make your home a more comfortable space and to add to its value as property. These home improvement projects include remodeling the basement, kitchen, and bathrooms, and painting both the exteriors and interiors regularly.

Whenever most people think of home improvement projects, they think in terms of doing up the living areas, such as the bedrooms, drawing room, and dining room. However, there is just so much that you can do in a bedroom-maybe add a comfortable bed, a reading lamp, a table or ceiling fan, a bookshelf, and a study table. Most people seldom entertain formally, so areas such as the drawing room and dining room seldom get used. You can, however, put in some comfortable sofas, chairs, end tables, and coffee tables, and put in an expandable dining table, chairs, and breakfront in the dining room. You are most likely to use your kitchen as an area to not only prepare and cook food, and wash utensils and laundry, but also to serve family meals and entertain informally.

You can add electric floor warming systems for kitchens, bathrooms, and basements to make these areas of your home more comfortable. If you waterproof and ventilate your basement and use glass blocks to let in natural light, you can use it as a gym, study, home office, or home entertainment room. You will need to put in an intercom system so that you can not only make and receive calls in the basement, but also keep in touch with other family members.

To make your kitchen a visually appealing space, you can add countertops that complement or match the cabinetry, floor, or walls. Your countertops could be of granite, marble, wood, or stainless steel. To bring in more light into the kitchen, you can place a large ceiling fixture in the center of the kitchen, with track lights near the sink, range, and countertops. You can also use warm colors for the kitchen walls and floor, add recessed lights and dimmers, and highlight your cabinets. You can use tiles, laminates, and hardwoods as flooring. Your cabinets can complement or match the colors used in the walls and flooring. You can even use stained glass panels for kitchen cabinets.

To make your bathroom a truly relaxing space, you can always add a steam shower, a body spa, or a comfortable bathtub where you can soak for hours and allow the tensions of the day to flow away from you. See that your bathroom is well-lit. If you are interested in chromatherapy, you will find several products, such as bathtubs, shower systems, and sinks, which feature chromatherapy options. You can also install multiple showerheads and a waterfall in the bathroom to get a spa-like experience. You can also include a large bathtub, fog-free mirrors, and a towel warmer for more comfort. The tiles and walls in your bathroom should be in warm colors. You can also put plants and pictures in the bathroom to give a lived-in feel, and replace the sink sunk in a counter top with a pedestal sink. Nowadays, sinks come in a variety of materials, such as glass, stainless steel, stone, and copper-you can select a material that suits you. Your vanity cabinet could be of stone, wood, or glass. You can select from a wide variety of faucets, including single-hole and single-lever, widespread, centerset, and wall-mounted faucets.

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Using the Equity in Your Home For Home Improvements

Is it time for a new roof and updated windows? Do the kids need more space? Is the garage overrun with stuff with no room for the cars?

You’re going to need some money to get these projects done, whether you decide to hire a contractor or do it yourself. Consumers should look closely at the financing options before jumping into a loan. Ask yourself some questions when approaching a home improvement loan.

Ask yourself these questions:

How long is the whole job going to take?

What is the total cost of everything?

Will I need more money for anything else beyond the home improvements?

For small jobs, less than say $500, using a credit card is probably the best options. The interest rate will most likely be higher than other financing options, but there won’t be any extra paperwork and appraisals.

Using the equity you have in your home is a low cost way to finance your home improvements. The equity is just sitting there waiting for you to sell your home.

Many banks over home-improvement loans made for low-to-moderate income families, whereas your typical home-equity loan offers a better rate structure. Additionally, the interest payments on a home equity can be deducted on your federal income taxes.

A home equity loan basically is a homeowner borrowing against their house, pledging it as collateral. If you want to borrow a large amount of money or you have poor credit a home equity loan can be attractive.

The lender is often more liberal with a home equity loan since it is viewed as a relatively safe loan. If you default on a home equity loan, you can’t disappear or hide with your house. Your payments are more likely to be a priority if your home is at stake.

Advantages of Home Equity Loans
Home equity loans are attractive for a few reasons:

The interest rate is typically lower.

The qualifications are easier for consumers with bad credit.

Payments on the interest could be tax deductible.

Loan amounts can be relatively large.

Home equity loans are a good investment for you as well. Let’s say you have equity of $25,000 in your home. You take out a home equity loan for $25,000 for a garage addition, new siding and remodel the bath. You have increased the value of your home by improving you home by doing these projects.

Be cautious though, because home equity loans are often offered with variable interest rates. That means they can vary upwards. Fixed rate equity loans are available, but you must specifically ask for them. If interest rates were on the rise, a fixed rate would be a good choice to ask for.

Be sure the deal is best for your interest. Make sure the home equity loan fits your needs better than a credit card account would. Make a budget ahead of time to make sure the extra loan payment won’t overburden you. Consider insurance to cover the payments in case the unforeseen happens.

When deciding on financing your home improvements, be sure to check the different options available to you. If you need a new roof, new windows installed and to replace your deck, the home equity loan is a good option.

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