Rutland VT Real Estate Appraisal Myths And Facts

A real estate Appraisal is not the same thing as a Comparative Market Analysis (CMA).  A real estate Appraisal determines the market value of the property, which is an estimate of the sale price of the house. An Appraisal is mandatory when you are borrowing money from a lender to purchase a home.  An Appraisal is done by a specially trained and experienced individual known as an appraiser. 

On the other hand, a Comparative Market Analysis is used to determine a reasonable asking price based on the selling and listing prices of comparable real estate. This is conducted by the real estate agent listing the property. The sole purpose of a CMA is to help the real estate agent advise the sellers when trying to come up with an appropriate asking price. This is different from an appraisal because a Comparative Market Analysis helps determine the actual asking price, where as the appraisal reveals the property’s actual value. Appraisers usually use similar research on comparable properties as a factor in determining the property value. 

Here are some myths and facts to help you lean more about the Appraisal of your Rutland VT real estate. 

Rutland VT Foreclosure Trends – June 2009

There are 11 Rutland VT foreclosure homes for sale with 2 new foreclosures in June 2009, according to RealtyTrac.com. There were 21 new foreclosures in the state as a whole in June.

Rutland VT Foreclosure Activity and Home Price Index

Rutland VT foreclosures doubled in June compared to April and May with 2 homes being foreclosed. This is half the number of foreclosures from December 2008 when 4 homes foreclosed.

 

Rutland VT  foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or repossession notice – each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.

Rutland VT Foreclosure Geographical Comparison

Rutland VT foreclosure activity is lower 0.21% lower than national statistics and the same as Vermont statistics.

Are you or someone you know behind on your mortgage payments and facing a Rutland VT foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home.  Give me a call for a private consultation.

Learn more about Rutland VT real estate by visiting ISellVermontRealEstate.com.

Search all Rutland VT real estate and homes for sale.

 

Safety Tips For Your Rutland Home’s Pool

Everyone enjoys spending time relaxing poolside or splashing around in the refreshing cold water. For many kids it is a favorite summer pastime that seems harmless. Drowning is actually the second leading cause of death for children who are 14 years old or younger. Approximately 3,000 children in this age group make trips to the emergency room in need of treatment for near drowning incidents. People ages 60 and older are also at a higher risk for experiencing danger in the water. Death and other water related accidents can be completely prevented and avoided if the proper precautions are observed and enforced. Whether hanging out around your Rutland home’s backyard pool or enjoying the day at the community pool these tips will keep family and friends safe and smiling.

• Supervise all children at all times, especially children ages 14 or younger.

Selling Your Rutland VT and Okemo Mountain VT Home Yourself

Selling your Rutland VT and Okemo Mountain VT home yourself might sound like a good idea at first, but many FSBO (for sale by owner) sellers quickly realize they’ve gotten in over their heads or may have sold their home for much less than they would have had they worked with a Realtor®. 

The 2008 NAR Profile of Home Buyers and Sellers found that two-thirds of “For Sale By Owner” (FSBO) sellers found some aspect of the home sale to be difficult. 

Twelve percent of sellers who knew the buyer thought that getting the price right was the hardest task. Among FSBO sellers who didn’t know the buyer, 16 percent found it difficult to sell within the time planned, 15 percent found fixing up the home arduous, and 12 percent found it difficult to get the price right. 

Statistics also show 25 percent of FSBO sellers took no action to market their home and 72 percent didn’t offer incentives to attract buyers? 

If you are considering selling your Rutland VT home yourself and want to discuss other missteps FSBO sellers risk when attempting to go it alone, give me a call. I am glad to talk with you. 

Learn how I can help you sell your Rutland VT  home by visiting ISellVermontRealEstate.com.

What’s your Rutland VT home worth?

Has Vermont Real Estate Hit Bottom?

Many Vermont real estate buyers want to wait until the market reaches bottom to buy, insuring they are getting the best possible price. This is a natural thing to do…but how do you know when the market has reached bottom?

Usually it is by looking back and saying “Oh, I wish I had Bought back then!” We may be reaching the bottom of the current real estate market and beginning to see the return of appreciation. Do Not Miss your opportunity.

Here is an “Interesting” excerpt from CNBC. I suggest you take it as a “For What It’s Worth”. There are certainly some good and some “Over the Top” comments in this clip: http://www.CNBC.com/id/29757411.

Personally, I don’t subscribe to “Over the Top” commentary. I just think it makes sense to realize we are likely at or very near the bottom of the housing market and it IS a great time to buy a home! Rates are extremely low, Sellers are ready to sell and there is a large inventory of homes in all price ranges. The “Magic Three”… Think about it… Take advantage of it… Give us a call!

Learn more about Vermont real estate by visiting ISellVermontRealEstate.com.

Search all Vermont real estate and homes for sale.