Many factors impact the calculation of a home value. The amount of land that comes with a home and its location are two important issues to consider. The home values of comparable properties also affect the home value calculation. Look here for more information about how to calculate your home value and how to improve its worth. There are websites that can assist you in determining the values of homes in your area and real estate agents can also come up with an estimated value for your home.
Home Value: How Much Is My Home Worth?
A reader asks: What is my home value? How does my home's value compare with others? How much is my home worth? Have I lost money? All homeowners ponder their home value. They wonder, "How much is my home worth?" With home values and skyrocketing over the past 5 years and mortgage interest rates climbing, [...]
Cannabis Legalization and Real Estate: What Happens to Property Values?
Cannabis legalization and real estate: what happens to property values? How has recreational cannabis legalization impacted the real estate market? This year, Illinois joined 10 other states and Washington, D.C., in legalizing recreational cannabis use. Nearly $3.2 million of marijuana and cannabis products were sold on January 1st in Illinois, and there are still dispensaries [...]
How to Contest Property Taxes
How to contest property taxes. How the value of your home is determined and how to contest property taxes if the assessment on file is inaccurate. Q: I recently watched one of Ilyce’s video on YouTube on contesting real estate taxes. It really got me thinking, and I'm doing more research on my property taxes. [...]
What To Do When Your Home is Overvalued by Your Homeowner’s Insurance Company
What to do when your home is overvalued by your homeowner’s insurance company. Hint: You may want to consider changing companies. Q: Every year, I get a renewal notice from my homeowner's insurance company and it indicates the value of my home. The insurance company lists my residence value at over $700,000. I understand that [...]
Interest Rates Rising: Federal Reserve Ups Fed Funds Rate 0.25%
"Good afternoon. Today, the Federal Open Market Committee decided to raise the target range for the federal funds rate by 1/4 percentage point, bringing it to 3/4 to 1 percent. Our decision to make another gradual reduction in the amount of policy accommodation reflects the economy’s continued progress toward the employment and price stability objectives [...]
Rising Home Prices Might Be Unsustainable In 2017
Home prices are rising fairly dramatically, but those eye-popping increases could be unsustainable in 2017. According to the S&P/Case-Shiller index, home prices rose 5.8 percent annualized gain in December, a pretty dramatic increase, even as mortgage interest rates rose. Housing experts say that as the cost of buying a home accelerates, you shouldn't be seeing [...]
Starting a Home Remodeling Business? Avoid These Pain Points
Q: I’m thinking of starting a home remodeling business with one of my close friends. He knows the most about the home remodeling business because he has done it in the past and was successful with it. The only difference now is he doesn't have the capital and has a low credit score due to [...]
4 Ways You Can Prep Your Home For Winter
A mild fall is one thing, but if you don't prep your home for winter, you could be putting your home value at risk. Prepping your home for winter means more than just digging out the shovels and filling a bucket with salt. A cold winter season can cause damage to your home and property, which translates [...]
4 Ways To Benefit From an Empty Nest
This month, I’m sending my youngest son, Michael, off to college. (For those of you playing along at home, you may remember I have two sons, but my oldest is now a junior in college.) Sam and I are going to have an empty nest. That makes this post very personal. Back to school season is always [...]
Is now the best time to sell your home?
For many people, selling their home is generally part of a long-term plan, but occasionally a new opportunity might arise or you may want to change lifestyles and selling sooner vs. later looks like a good idea. Maybe your home has more space than you need or you’re thinking about changing jobs or you see [...]