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Sizing up purchase deposits In most states, it's customary, or required by law, for the buyers to include a good faith deposit when they make an offer to purchase a home. The deposit should not be given directly to the seller, but held by a trustworthy third party that maintains a trust account specifically for home purchase deposits, such as an escrow company.
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Repairing damaged exterior paint areas As the weather warms and you start wandering around outside a bit more, you may be noticing that winter rain, snow and wind have played havoc with your exterior paint in some areas.
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Avoid home improvement gimmicks that hammer resale value Q: We are considering listing our vacation home, and I have a question for you on whether it would be worth it to invest the money putting siding on it or selling it as is? The home is located on a golf course and has a magnificent view of the first hole and surrounding lakes and mountains.
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Appraisal rules tough on additions Recently a homeowner in the hills above Oakland, Calif., applied for a refinance. An appraiser visited the property and measured both levels of the house. The appraiser called the homeowner a few days later to find out if the lower level had been added with a permit. The public record indicated the house had three bedrooms, two bathrooms, and 1,513-square feet.
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Assessed vs. market value DEAR BENNY: In 2006, the assessed value of my house had climbed to $756,000 and then dropped to $714,000, trailing the declining market. I filed an abatement based on erroneous information that my town was using, and was successful. My house was reassessed at $531,300, very close to my suggested valuation.
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Steve Quattrone REALTOR®
Alain Pinel Realtors 1550 El Camino Real Suite 100 Menlo Park,
CA
94025 650.868.1189 650.543.1167 Contact Me
Visit My Web Site
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Seven rules for room additions If you're happy with your home and your neighborhood but are craving a little more space, maybe adding on is a better alternative to moving out. Room additions can be a terrific alternative for many homes, adding space for a growing family and adding resale value at the same time.
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Sellers face new dilemma in timing the market Some sellers have been biding their time for three years and now wonder if they should continue to wait or bite the bullet and sell now.
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Good Faith Estimate contains some 'quirks' As of Jan. 1, 2010, the Department of Housing and Urban Development (HUD) required lenders to provide mortgage borrowers with a new three-page Good Faith Estimate (GFE) to protect consumers who are applying for a mortgage.
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