What’s Your Home Worth?

Determining your home’s worth is one of the most important decisions you will encounter when putting your home on the market. For some, it can also be one of the toughest to face because when it comes time to sell, homeowners sometimes have a tendency to reminisce about all the fond memories made in the home over the years. These memories may be priceless to the home seller, but to a prospective homebuyer, they’re a non-factor in determining a property’s worth. Market value, and not sentimental value, is the key factor when figuring your home’s worth.

Market value is the amount prospective buyers are willing to pay at the time homeowners are ready to sell. Now you may ask – how do I find out the market value of my home? Well, the best way to ensure that you get the best price is to obtain a Comparable Market Analysis (CMA). You can get a CMA from your qualified, professional real estate agent.

The market analysis will include homes in your area that are currently on the market, expired from the market, pending a sale, expired and already sold within the last three to six months. Of course, the best indicator of your home’s value is the price for similar homes in your area that have already been sold. The comparison is based on the proximity to your home and the similarity of characteristics such as lot size, square footage, number of bedrooms and baths, other home amenities, etc.

It’s a good idea to sit down with your agent to discuss how each factor of the market analysis affects your home’s value. You can consider current listings to identify the competition, recently sold homes to indicate what buyers are willing to pay, homes with a sale pending to show the current demand and expired homes to suggest what buyers are unwilling to pay. Quality real estate Web sites may offer tools that help you determine how some of these factors affect your home’s value, but an agent is always the most reliable source. Some Web sites will simply interpret data from places like a county auditor site, but not take other important aspects into consideration. To ensure accuracy, work with an agent.

Suggestions for what to do are always accompanied with what not to do – and there are a few “don’ts” when deciding the value of your home. Avoid the urge to price your home based on factors that don’t affect the market value. Those factors include how much money you need to buy your next home, how much you paid for your current home, how much you paid for home improvements, the value of similar homes in different communities, area appreciation statistics, the cost to build the same home today and personal attachment.

Discovering how much your home is worth is the first step to ensure that your home is priced correctly. So, take the time, do the research and talk with your real estate agent. Together you can decide what the best price is in today’s market.

Should the 2009 First-Time Homebuyers 8K Tax Credit be extended?

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For more information on the 8K Tax Credit, check out RealLiving.com

Provide Detailed Listing Information Online

If you’re in the process of selling your home, give a potential buyer the information they need when considering your home—especially online. According to the National Association of Realtors® (NAR), 87% of buyers use the internet as a resource when looking for a home. So, get your home out on the internet where these high percentages of buyers can view it.

Here's a list of information your agent should be prepared to make available online:

• Multiple photos of your home (inside and out, showing your home's best features)
• Property, school and tax information
• A brief description of your home's best features
• Mapping tools to show your home's location
• Home details including parking, number of bedrooms, bathrooms, etc.
• Contact information for your agent, so interested buyers can schedule showings online

Your agent should market this information through the MLS, social networks, on his or her website, blogs, listing services and through other channels. This is an easy way to market your home to millions!

For more information on how you can market your home online, contact your local Real Living agent today!

Simple Ways to Create an Eco-Friendly Home

There is no denying that environmentalism is one of the hottest issues of the moment. We are consistently hearing people state that our planet is changing for the worse because of the strains we have put on our natural resources and the amount of unnecessary energy we consume each day.

The good news is that there are many little things you can do around your house to make your home more environmentally friendly.

Many people have shied away from going green because they are under the impression that it is expensive, and a much harder way to live. But today it has never been easier to go green at home. In fact, going green can actually save you money while you help save the planet. And if you are selling your home, going green is an added bonus: Many buyers are specifically looking to buy green-friendly homes.

If you need some ideas on how to get started, here are some easy ways to incorporate green into your lifestyle:

• Switch to Compact Fluorescent Light Bulbs. Even changing just the five most frequently used bulbs in your house can save you $100 per year or more.
• Install low-flow shower heads. Place a water-displacement bag in your toilet tank to cut down on water waste.
• Buy local produce. Local produce cuts down on paper and plastic packaging waste and also reduces the amount on fossil fuels used in the transportation of products.
• Set your thermostat. Keep your home at 78° or higher in the summer and 62° or lower in the winter to save $100 or more on your energy bill each year.
• Drive less. Walk, bike or take the bus, and initiate a carpool for trips to and from work, school or other activities.
• Utilize power strips. Power strips cut down on “vampire electricity,” which is the electricity used while appliances and electronics are plugged into an outlet, but not in use. By flipping the “off” switch on a power strip, you’ll quickly put a stop to this.
• Look for the Energy Star label. Appliances with the energy star will be 10 to 50 percent more efficient than appliances without the label.
• Let your grass grow. Most varieties fare best at two and a half inches tall, absorbing more sunlight and creating thicker turf, meaning less water needed for your lawn.
• Do full loads of laundry. When washing clothes or doing dishes, do full load – it will save gallons of wasted water every week. And use cold water whenever possible.
• Use eco-friendly paints, stains and finishes. Many of those products are not made up of volatile organic compounds, which give you that woozy feeling after painting, and also contribute to pollution.

Every little change makes a difference. Get your family involved and tell your friends and neighbors about the advantages of going green. In the end, it will make for a healthier lifestyle for you, your home and our planet.