January 29, 2009

WHAT IS YOUR HOME’S VALUE?

Posted to Beverly Comeau

One of the questions most asked by sellers and buyers is: “What is the percentage of sales price to assessed value?”

Assessed Value- Sets the basis for local real estate taxes. The value is determined by the home’s value as of Jan. 1, 2008.

Appraised Value- Determined by a licensed real estate appraiser by comparing the subject property to the most recent sales (usually within past six months) of comparable homes in the area.

Market Value- What a buyer agrees to pay for the property and what the seller agrees to accept for the property based on the terms of an offer to purchase said property.

In cases where the homeowner made improvements that did not require permits, the assessed value may be lower than market value. When a homeowner does not maintain the property and the condition falls below that of other homes in the area, the market value may be lower than assessed value. In today’s market, appraised value will determine if you get your loan amount. If there is no mortgage, market value is most important.

Ask your questions- knowledge is power- the more knowledge you have when buying or selling a home, the better qualified you are to make an informed decision.

Request a Market Snapshot - all Cape Cod homes for sale and homes sold by neighborhood - at http://www.BeverlyComeau.com. If you have questions regarding Cape Cod real estate values, simply email Beverly at BComeau@jackconway.com.

Posted By: Beverly Comeau


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January 05, 2009

Ringing in New Goals

Posted to Beverly Comeau

I love the New Year - a time to purge the old - the excitement and hope of setting new goals. Funny thing is, my current list of goals hasn't been fully completed - not that I didn't make the effort - it's just the year flew by much too quickly - I truly think the world is spinning faster on its axis.

If you are planning to buy or sell a home in 2009, I thought I would share some tips to put on your New Year's list.

TIP FOR SELLERS: As you put away those Holiday decorations, box up whatever else you aren't going to use over the next year. Your home will look larger with less in it and you will begin to feel organized and less overwhelmed when you face that stage in the selling process of getting your house in showing condition.

TIP FOR BUYERS: With interest rates at historic lows, be ready to take advantage of a sudden drop. Experts stress to borrowers that they gather the information they need for loan application - tax returns for the past two years, most recent pay stubs and bank statements. You can then be in a position to act quickly. And from a professional realtor's perspective, when there is a home that comes on the market that is an excellent value, there are clients ready to take advantage of that opportunity which creates multiple offers on that home.

You will find more TIPS FOR SELLERS and TIPS FOR BUYERS on my website at http://www.BeverlyComeau.com.

MAY 2009 BRING YOU GOOD HEALTH, LAUGHTER AND PROSPERITY!

Posted By: Beverly Comeau


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