Ever wonder about the difference between a property appraisal and an inspection, and how each is used during the home buying process?
An appraisal is a formal written assessment of the value of a home or property. A lender usually requires an appraisal to determine the market value of the property to make sure the amount borrowed does not exceed the value of the property being purchased. An appraiser is usually hired by the lender and their fee is one of the expenses included at settlement or closing.
An inspection is an onsite assessment of the systems and structural integrity of the property. An inspection is intended to find any hidden problems and as a condition of the sale. Prospective buyers hire an inspector directly and normally make payment at the time of the inspection.
Both appraisers and inspectors act as independent third parties while real estate agents represent either the buyer or the seller and thus have a stake in the outcome of a transaction. As an agent, I can still provide you with a free comparable market analysis or CMA which will give you a good idea of what your home is currently worth.
Please call or send us an email if you’d like to learn more about how much your home may be worth.
Important Real Estate Documents to Keep in a Safe Place
As long as you own your home, here is a list of important real estate documents you’ll want to keep in a safe place:
1. Property deed: keep it for as long as you own the property.
2. Closing statements: keep statements for three years after your purchase to show capital gains.
3. Home improvement: some remodeling projects can reduce a potential capital gains hit when you sell your property, so save your receipts and consult your accountant.
4. Warranty information: keep until the warranty expires.
5. Loan papers: keep until paid off or refinanced, or in the case of mortgages that have tax-deductible interest, keep them for three years.
6. Insurance policies: keep until the policy expires.
7.Receipts or statements: save credit card receipts and/or checking account statements or cancelled checks for all major purchases such as appliances, furniture, antiques and art
When you sell your home, you’ll usually be required to submit a disclosure form. Receipts for major home improvements like a new roof or remodeling project can help you complete disclosure forms and substantiate the good condition of your home.
A bank safety deposit box or fireproof safe is the best place to store your important documents. Be sure to save an up-to-date household inventory, complete with appraisals, receipts and photos or a videotape for insurance purposes in case of loss.
Please call or send us an email if we can provide you with an updated home evaluation for insurance purposes.
1. Property deed: keep it for as long as you own the property.
2. Closing statements: keep statements for three years after your purchase to show capital gains.
3. Home improvement: some remodeling projects can reduce a potential capital gains hit when you sell your property, so save your receipts and consult your accountant.
4. Warranty information: keep until the warranty expires.
5. Loan papers: keep until paid off or refinanced, or in the case of mortgages that have tax-deductible interest, keep them for three years.
6. Insurance policies: keep until the policy expires.
7.Receipts or statements: save credit card receipts and/or checking account statements or cancelled checks for all major purchases such as appliances, furniture, antiques and art
When you sell your home, you’ll usually be required to submit a disclosure form. Receipts for major home improvements like a new roof or remodeling project can help you complete disclosure forms and substantiate the good condition of your home.
A bank safety deposit box or fireproof safe is the best place to store your important documents. Be sure to save an up-to-date household inventory, complete with appraisals, receipts and photos or a videotape for insurance purposes in case of loss.
Please call or send us an email if we can provide you with an updated home evaluation for insurance purposes.
Which is Better for You: A Condo or a Single Family Home?
Did you know that condominiums are one of the fastest growing segments of the housing market? Owning a condo is perfect for those with busy lifestyles, little interest in home maintenance or landscaping chores or who frequently travel. Condos are a fine choice for a first home or when downsizing from a larger house.
Here are some pros and cons to consider:
Condo:
· Fewer maintenance requirements.
· Usually less expensive than a single family home.
· You own the space inside the walls.
· There can be more security with neighbors close by.
· The exterior of the building, landscaping, surrounding roads and driveways, and common areas all owned by the condo association, a group made up of all unit owners.
· Special assessments by the association for painting or repairs can be a substantial added expense.
Single family home:
· Usually offers more storage space.
· You own the interior as well as the exterior.
· You are responsible for all maintenance, landscaping and repairs.
· You usually don’t have to pay community dues or special assessments.
· You have room to grow plants, flowers, trees, veggies, etc.
Think about how your household may change over the next few years. Will you still need a larger home or will you have enough space in a condo? Or would you be happier in a smaller house with room for a garden?
For more information about real estate options in our market, call or email us. We’d be happy to provide you with that info via email or we can show you what is available.
Here are some pros and cons to consider:
Condo:
· Fewer maintenance requirements.
· Usually less expensive than a single family home.
· You own the space inside the walls.
· There can be more security with neighbors close by.
· The exterior of the building, landscaping, surrounding roads and driveways, and common areas all owned by the condo association, a group made up of all unit owners.
· Special assessments by the association for painting or repairs can be a substantial added expense.
Single family home:
· Usually offers more storage space.
· You own the interior as well as the exterior.
· You are responsible for all maintenance, landscaping and repairs.
· You usually don’t have to pay community dues or special assessments.
· You have room to grow plants, flowers, trees, veggies, etc.
Think about how your household may change over the next few years. Will you still need a larger home or will you have enough space in a condo? Or would you be happier in a smaller house with room for a garden?
For more information about real estate options in our market, call or email us. We’d be happy to provide you with that info via email or we can show you what is available.
Organizing Tips to Remove Closet Clutter
Do you still have that horrid sweater your aunt gave you five years ago or ten pairs of old shoes that you can’t bring yourself to throw away because you might wear them again someday?
If you’re the kind of person who has a hard time throwing things away, cleaning out your closets regularly will save you time and energy and keep you from feeling overwhelmed by the task. Here are some tips to help you organize and unclutter your closet:
* Get rid of any clothes you haven’t worn in over a year.
* Store out-of-season clothes in a different location.
* Try on the clothes you can’t seem to get rid of - it will help you to make a decision.
* Buy good-quality clothes hangers: wire hangers don’t provide good support and will leave marks on your clothes.
* Wear a different pair of shoes every day. Shoes worn every day break down and wear out much more quickly.
* Hang clothes by style (i.e., shirts, suits, pants) or by color.
* If space permits, add a separate bar for shirts and pants.
When you do this regularly you'll find you really don’t need some of the clothing you thought you did. And you’ll actually wear and enjoy the clothes you do have.
If you’d like more information on getting rid of clutter in your home, please call or send us an email.
If you’re the kind of person who has a hard time throwing things away, cleaning out your closets regularly will save you time and energy and keep you from feeling overwhelmed by the task. Here are some tips to help you organize and unclutter your closet:
* Get rid of any clothes you haven’t worn in over a year.
* Store out-of-season clothes in a different location.
* Try on the clothes you can’t seem to get rid of - it will help you to make a decision.
* Buy good-quality clothes hangers: wire hangers don’t provide good support and will leave marks on your clothes.
* Wear a different pair of shoes every day. Shoes worn every day break down and wear out much more quickly.
* Hang clothes by style (i.e., shirts, suits, pants) or by color.
* If space permits, add a separate bar for shirts and pants.
When you do this regularly you'll find you really don’t need some of the clothing you thought you did. And you’ll actually wear and enjoy the clothes you do have.
If you’d like more information on getting rid of clutter in your home, please call or send us an email.
4 Effective Ways to Make a Move Go Smoothly with Children
Moving is considered one of the top five causes of stress. How you handle your children during and after the sale of your home can alleviate some of their stress and therefore yours.
Here are some 4 tips from the experts to make this a smooth transition:
1. A child should be told about an upcoming move only after you’ve decided to make it. Discussing the possibility before making the decision only causes unnecessary anxiety.
2. Keep children involved in their favorite activities, such as sports, academic clubs or the arts, before the move actually occurs. Children can do the research on the Internet to find out about events, teams and other interesting facts about their new area.
3. Another way to help children adjust to a new environment is to help them become familiar with the area before the move occurs. Take a vacation, or short trip to the area so it is more familiar when you actually do move.
4. One of the most overlooked tips is to have children stay with relatives or friends during the actual packing and loading. Most children don’t do well seeing their possessions packed into boxes and taken away.
Please call or send us an email for additional moving tips.
Happy Holidays!
Here are some 4 tips from the experts to make this a smooth transition:
1. A child should be told about an upcoming move only after you’ve decided to make it. Discussing the possibility before making the decision only causes unnecessary anxiety.
2. Keep children involved in their favorite activities, such as sports, academic clubs or the arts, before the move actually occurs. Children can do the research on the Internet to find out about events, teams and other interesting facts about their new area.
3. Another way to help children adjust to a new environment is to help them become familiar with the area before the move occurs. Take a vacation, or short trip to the area so it is more familiar when you actually do move.
4. One of the most overlooked tips is to have children stay with relatives or friends during the actual packing and loading. Most children don’t do well seeing their possessions packed into boxes and taken away.
Please call or send us an email for additional moving tips.
Happy Holidays!
Safety Tips for Weekend Do-It-Yourself Home Repairs
Many of us have a rather cavalier attitude about home improvements. We are convinced that we can tackle the project from start to finish and that no harm will befall us--even though we may be amateurs working with power tools or electricity at dizzying heights.
You can greatly reduce your risk of injury by employing these proven safety techniques:
*Do your own electrical work only if you have the necessary skills and knowledge
* Keep a tidy work area to avoid creating your own hazards
* Dress for safety: wear sturdy clothing, boots, gloves and safety glasses
* Keep drill bits, blades and cutters sharp; dull tools are dangerous
* Make sure your ladder is on a flat, firm surface and never stand on the top two rungs
* Wear a mask to avoid breathing dust and fibers and learn how to handle hazardous materials
* Equip your house and garage with fire extinguishers
* Keep a good first-aid kit on hand
Eliminating risky practices will free you to enjoy your home improvement project and the results of your work. If you'd like information on which home improvement projects may increase your home's value, please don't hesitate to call or send us an email.
You can greatly reduce your risk of injury by employing these proven safety techniques:
*Do your own electrical work only if you have the necessary skills and knowledge
* Keep a tidy work area to avoid creating your own hazards
* Dress for safety: wear sturdy clothing, boots, gloves and safety glasses
* Keep drill bits, blades and cutters sharp; dull tools are dangerous
* Make sure your ladder is on a flat, firm surface and never stand on the top two rungs
* Wear a mask to avoid breathing dust and fibers and learn how to handle hazardous materials
* Equip your house and garage with fire extinguishers
* Keep a good first-aid kit on hand
Eliminating risky practices will free you to enjoy your home improvement project and the results of your work. If you'd like information on which home improvement projects may increase your home's value, please don't hesitate to call or send us an email.
Featured Listing: 200 Tarn Place Wenatchee, WA 98801
Beautiful 2001 daylight rambler in Sunnyslope with all the upgrades. 4+ bedrooms, 2.5 bath and 3442 square feet. Sweeping views of the city, river and mountains. 1/2 acre lot with private backyard and a cooks kitchen with gas range. This house is a must see!
http://www.wenatcheehouses.com/address.php?property_ID=14
Enjoy!
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