Posts
Okay, now I'm frustrated. Obviously I've been blogging to myself over the past several weeks. I know I'm new at this but this is my 4th post and I've had no comments. Granted I'm not sure if people have visited and just not left a comment, but if you do visit could you at least say hello so I know that I'm not just talking to myself. The title of this post is 'top 3 blogs on the web'. I'm not bragging. I'm just trying to attract attention. I've been doing some research about blogging and someone said to start with 'top 3...' anything and I should get attention. So, help, I'm starving for attention.
I also found out that a blog that has too many directions is confusing. Stay focused on one topic. If I want to write about something else start another blog. Do you agree? (assuming you are out there)
My focus was to be real estate oriented since I am a residential appraiser and agent. But I am working on a website for my real estate activities and I will have a blog page on that.
What then? My other big interest has been alternative energy and/or 'going green.' So I will vent about that and do some more research about the subject to provided interesting facts or topics which we can discuss.
So remember, I'm all alone out here. I don't want to have to go to a social networking site to meet people. Drop by, say hello, or let me know what you want to blog about, I'm just sayin'......Allen
Wednesday, November 26, 2008
Wednesday, November 12, 2008
Do You Know What Your Home is Worth?
Well the election is finally over and some of us are happy, others not so much. We can finally go back to what is really on our minds---"the economy stupid". Yes that is primarily what the national referendum was all about anyway. The general economy appears grim, the job outlook appears grim, the outlook for retail sales looks grim(there goes my birthday present!). And what is on the mind of must of us besides our 401k's is what is our home worth now?
As a residential appraiser in New York I can say that the east coast has not been hit as hard as other parts of the country such as California, the southwest, Las Vegas and Florida. Don't get me wrong we are in a declining market also but it is more moderate and you really have to examine the statistics for each neighborhood to see how things are going. So many times as I examine the comparable sales for a report I notice that sellers make the mistake of thinking 'my home is worth more than that' or 'my home is worth more than my neighbor who sold last month' and they stay on the market at an inflated price just to accept a lower offer a year later. With so much information available on the internet or through a local broker you would think that some of this information would be taken seriously. But with the home being such an emotional attachment that is not often the case. And what is even more heartbreaking is when someone has an adjustable rate mortgage which resets, the monthly payment goes through the roof and the home owner can no longer afford to to stay in the home. But they do sometimes stay, hoping that things will change. The only thing that changes is the value of the home in a negative direction. Then what may happen is they are in an 'upside down' position which means that the amount they owe the bank is more than the house is worth. So much of this is going on right now that you can virtually feel the pain of our fellow citizens. Going 'upside down' generally invites a short sale. A short sale is where the owner decides to sell at almost any price and hopes that the bank will accept the proceeds which are 'short' of what is actually owed. Very often the bank will accept such a sale to avoid having to foreclose on the property. But generally this is done only if the seller can prove that they cannot afford to make up the deficiency.
Most of this anguish could have been avoided if the 'upside down' home owner had not taken a mortgage they could have afforded in the beginning---even though this meant renting for a while longer. Or if the person selling a home had been realistic in pricing their home when first listed. Most unrealistic sellers eventually wind up netting less for their home. This could have been avoided by getting an unbiased third party opinion from a certified appraiser. A pre-listing appraisal lets the client know just what the home is worth at that point in time. While an appraisal report should include current market conditions and a general market trend it does not predict the future. With an appraisal in hand you can get your local Realtor to look into that misty crystal ball. Your local Realtor is right there to help analyze the market trends and tell you what to list your house for. If you live in New York, specifically Queens County(NYC) or Nassau County(Long Island) and think an appraisal of your home would be helpful you can contact me at 516-791-3846 or e-mail me at allen.bauman@gmail.com. It could save you a lot of grief and money.....i'm just sayin'.
I've included a short survey to help me find out what people are thinking about home values. I would appreciate you clicking below and participating, thanks---Allen
http://www.zoomerang.com/Survey/?p=WEB228H4B46MM3
As a residential appraiser in New York I can say that the east coast has not been hit as hard as other parts of the country such as California, the southwest, Las Vegas and Florida. Don't get me wrong we are in a declining market also but it is more moderate and you really have to examine the statistics for each neighborhood to see how things are going. So many times as I examine the comparable sales for a report I notice that sellers make the mistake of thinking 'my home is worth more than that' or 'my home is worth more than my neighbor who sold last month' and they stay on the market at an inflated price just to accept a lower offer a year later. With so much information available on the internet or through a local broker you would think that some of this information would be taken seriously. But with the home being such an emotional attachment that is not often the case. And what is even more heartbreaking is when someone has an adjustable rate mortgage which resets, the monthly payment goes through the roof and the home owner can no longer afford to to stay in the home. But they do sometimes stay, hoping that things will change. The only thing that changes is the value of the home in a negative direction. Then what may happen is they are in an 'upside down' position which means that the amount they owe the bank is more than the house is worth. So much of this is going on right now that you can virtually feel the pain of our fellow citizens. Going 'upside down' generally invites a short sale. A short sale is where the owner decides to sell at almost any price and hopes that the bank will accept the proceeds which are 'short' of what is actually owed. Very often the bank will accept such a sale to avoid having to foreclose on the property. But generally this is done only if the seller can prove that they cannot afford to make up the deficiency.
Most of this anguish could have been avoided if the 'upside down' home owner had not taken a mortgage they could have afforded in the beginning---even though this meant renting for a while longer. Or if the person selling a home had been realistic in pricing their home when first listed. Most unrealistic sellers eventually wind up netting less for their home. This could have been avoided by getting an unbiased third party opinion from a certified appraiser. A pre-listing appraisal lets the client know just what the home is worth at that point in time. While an appraisal report should include current market conditions and a general market trend it does not predict the future. With an appraisal in hand you can get your local Realtor to look into that misty crystal ball. Your local Realtor is right there to help analyze the market trends and tell you what to list your house for. If you live in New York, specifically Queens County(NYC) or Nassau County(Long Island) and think an appraisal of your home would be helpful you can contact me at 516-791-3846 or e-mail me at allen.bauman@gmail.com. It could save you a lot of grief and money.....i'm just sayin'.
I've included a short survey to help me find out what people are thinking about home values. I would appreciate you clicking below and participating, thanks---Allen
http://www.zoomerang.com/Survey/?p=WEB228H4B46MM3
Friday, November 7, 2008
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