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appraisals: Danbury, Connecticut Property Tax Assessment Issues - 12/05/07 04:05 PM
The Danbury News Times printed an article yesterday about Danbury homeowners having their homes reassessed to to today's values.
Danbury's last revaluation of homes was done in 2002. According to the article, single family homes in Danbury are seeing an increase in their assessments of about 35%, while condos are seeing their assessments rise 50-55%. These increases are in proportion to the property value increases we have experienced in the five years since 2002.
Homeowners are upset because they fear such large increases in their homes' assessments will increase their property taxes in a proportionate manner. This is incorrect. Property taxes are determined … (0 comments)
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appraisals: Landscaping Value - 08/20/07 12:57 PM
REALTOR Magazine Online today posted an article, Landscaped Lots 'Very Important' to Buyers.
In this article, they discuss that many buyers find a home's landscaping to be very important to them when making their buying decision. However, they go on to state that appraisers and tax assessors do not take a home's landscaping into consideration when assessing the value of the home.
How true that is. This goes back to the debate of Value vs. Appeal.
Meticulous landscaping absolutely adds to the appeal of your home. It makes buyers want to get out of their car to take a look inside. … (5 comments)
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appraisals: The Importance of Price - 07/17/07 02:35 PM
I've written about pricing issues in the past. At the end of the day, the list price of your home is one of your most important considerations. If you over-price your home, it will not sell.
I don't show over-priced homes to my clients. Why would I waste their time?If you over-price your home, will you get showings? Maybe. Here's why:
Agents who do not know home values may show your over-priced home. Sounds great, doesn't it? Well, not really. Because buyers, after looking at many homes to buy, tend to learn about home values and they know an over-priced home … (15 comments)
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appraisals: Days on Market: It's a Matter of Price - 06/24/07 12:13 PM
In preparing my monthly Market Condition Reports for the area towns surrounding Candlewood Lake here in Connecticut, I've noticed a continuing trend between Days on Market and Original List Price vs. Final Sales Price.
With the exception of new construction (which typically takes longer to sell due to the construction time, and often sells at a premium over resale homes), nearly all homes that were on the market for more than 150 days, ended up selling for $50,000 - $100,000 less than the original list price. Some sold for $200,000 less than the original list price and sat on the market … (8 comments)
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appraisals: Pricing Issues: Location - 01/06/07 09:46 AM
When it's time to sell your home, among the myriad of things to do to get your house ready for sale, you must determine the best price at which to list and market your home. Price too high, and buyers and their agents may not even come to see your home. Price too low, you may enjoy a quick sale, but you could leave money on the table. Pricing competitively - based on recent similar sold homes while considering the current active competition for your home - will result in more showings, more interest and the achievement of your goal: the sale … (6 comments)
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appraisals: Pricing Issues: Square Footage - 01/03/07 02:18 PM
When determining the value of a home, your agent will first take into consideration the home's Gross Living Area, otherwise known as square footage.
The Gross Living Area of your home includes the fully-finished, above-grade areas of your home. Typically not included are basements, attics, garages and enclosed or covered porches.
One of the most common discrepancies I see with homes listed for sale here in the Danbury, Connecticut area is that sellers and their agents sometimes include a finished basement in the total square footage of the home. Below-grade areas, whether finished or not, are not calculated into the total … (15 comments)
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appraisals: Your Home Must Appraise for the Sale Price - 01/02/07 07:37 PM
When sellers and their agent are determining at what price to list their home for sale, it is important to remain realistic about the market and the home's current market value.
Price your home too high and buyers and their agents will probably ignore your home, or use it to sell other, better-priced homes. If the home does sell at too high of a price, then it may not make it through the appraisal phase of the contract. If the home cannot appraise at the purchase price, then the buyers may not be able to obtain financing. Assuming there is an appraisal … (4 comments)
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Don Fabrizio-Garcia
Danbury,
CT
More about me…
Fab Real Estate
Address: 1 Padanaram Road, Suite 150C, Danbury, CT, 06811
Office Phone: (203) 947-1107
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