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.
Evaluate Your Personal Finances Before Renovation
Before you start on a home renovation project, take stock of your personal finances. Figure out how much you have to spend and then set the budget accordingly. Make sure you know what your renovation dollars will bring back to you in home value appreciation.
New Construction Trends Are Unique
The annual show for the National Association of Home Builders showed that the latest trends in new construction are unique. One trend that came through loud and clear is that new home buyers aren't interested in cookie cutter construction. They're interested in features that give them the feeling they've stepped up from their last home. So new quiet doors that shut out the sound of your teenager's music habit, to more custom cabinetry, copper accents on windows and waterfalls that hang on the wall.
Reverse Mortgages For Seniors On Fixed Income
A reverse mortgage can be a good option for seniors on a fixed income. A reverse mortgage allows a home owner over age 62 to use his home's value to get a loan in a lump sum or monthly payments. The home owner doesn't pay anything back on the reverse mortgage until he moves out or sells it. Several book and websites offer information on reverse mortgages and mortgage lenders.
Calculating The Value Of Each Amenity In A Home
Even if two homes appear to be the same on the outside, the amenities that have been added over the years can add up so each home has its own value. When shopping for a home, it's important to look objectively at a home's amenities and to think about the value other home buyers place on these amenities. The value of home amenities change on how old they are, the condition and whether everyone else in the neighborhood has it or wants it.
Fannie Mae Restricts Refinancing
To reduce the number of mortgage loan refinancings, Fannie Mae instituted a fee. Fannie Mae's refinancing fee should offset the cost of people defaulting on their mortgage loans. In addition, Fannie Mae is limiting home owners to refinancing no more than once per year. Learn more about Fannie Mae's new refinancing policies.
LIfe Insurance, Estate Taxes And Home Value Questions
Is life insurance a good idea after divorce? Would selling a home for $1 reduce estate taxes? What's the best way to figure out a home's value? These questions answered on WGN.
Are Housing Prices A Bubble That’s Going To Burst Like The Stock Market?
Over the past five years, the average house has increased in value by more than 30 percent. Are housing prices a bubble that's going to burst like the stock market? But it's possible that we could continue to see house prices continue to go up in value.
Mortgage Lenders Share News
Some home owners had trouble making mortgage payments after 9-11. Experts from the Mortgage Bankers Association put their delinquency rates into perspective. Learn also how mortgage lenders and secondary market players such as Freddie Mac work to combat mortgage fraud.
How Much Is Your House Worth Anyway?
Over the past five years, housing price valuations have skyrocketed. Is it the amount the bank's appraiser says it's worth? Or, is it the amount on which the tax assessor bases your every-rising real estate property taxes? Or, is it the amount that someone is willing to pay for your home?