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Wednesday, October 18, 2017

What Does It Really Take to Downsize?


Downsizing may be a natural and smart choice to make, but that doesn’t make it easy. There are a lot of things to think about. 
 
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Today I want to talk about the topic of downsizing. When the kids leave the nest and it’s just you and your partner left, you may start wondering why you’re still staying in such a big space. When you no longer need a large home, the natural option is to downsize. However, even once people no longer have a need for such a large space or so many items, it can still be hard to adjust to change. People grow used to living a certain way, which makes downsizing difficult. Going from a 4,000 square foot house to one of half that size means that half of your personal items will have to go as well. This is something a lot of people have difficulty with. It’s important to realize that these are the kinds of things you’ll need to be thinking about. The idea of downsizing is good and smart, especially since it sometimes helps people to become debt-free, but it isn’t as easy as many people think.

When you no longer need a large home, the natural option is to downsize.

Another thing that often takes people by surprise is the change in amenities. In a downsized home, the kitchen may not be quite as nice as the one in the previous house. This is just one example. It really depends on what you buy, but it is possible to find a nice, smaller home in a lower price point. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Wednesday, September 6, 2017

We’re Happy to Answer Any Question, Anytime


We just wanted to remind you that if you have a question about real estate, we are happy to answer it.
Looking to sell a home in Athens, Georgia? Click here for a Home Price  Evaluation

Looking to buy a home in Athens, Georgia? Click here to perform a full home search

We’ve been fortunate enough to have a very busy year helping a lot of families buy and sell homes in Athens. Although our free time is somewhat limited these days, we always have enough free time to answer any of your questions. We want to be known as the Athens real estate experts, but we also want to be known as consumer advocates. If you have any questions regarding any part of real estate or real estate transactions, let us know. Whether you have a question about buying, selling, investing, appraisals, inspections, or any other real estate-related topic, we’d love to hear it.


We’re always here to answer your questions.


You can give us a call, send us an email, or just come visit us. No matter the question, we will do our best to answer it in a thorough and timely manner. We look forward to hearing from you soon.

Wednesday, August 23, 2017

How Is the Market Affecting the Appraisals of Homes?


We continue to be in a seller’s market, which is affecting how appraisals come in for homes under contract. I’ll explain everything in today’s video.
Looking to sell a home in Athens, Georgia? Click here for a Home Price  Evaluation

Looking to buy a home in Athens, Georgia? Click here to perform a full home search

Today I wanted to talk to you about what’s going on with appraisals in the current market. In our last video, we gave you a snapshot of what the market currently looks like from a supply and demand perspective. Currently in our market, we have high demand and a low supply of homes, which is causing home prices to increase. So how is this affecting appraisals for the sellers that we work with? We’ve had more instances this year than in recent memory where we get a home under contract for a certain value, and the appraisal comes in lower than that value. This is a problem. Why are we seeing lower appraisals? Appraisers are looking back over the last three to six months of sales in the area, comparing similar homes to the seller’s, and coming up with their opinion of the value of the home based on those factors, as well as any improvements or updates done to the home.


Currently in our market we have a high demand and a low supply of homes.


In my opinion, the true market value of a home is what the seller and buyer agree on, but the banks have to protect themselves. Because of this, we’re seeing these low appraisals. I still continue to encourage sellers to list their home at a price that is a little higher than the homes that sold recently in the area, especially in this current market. If you find yourself in that situation where the home appraisal is lower than the purchase price, you have a few options to take care of that problem. You can reduce the price down to the appraised value, the buyer can pay that difference in cash, or you can meet somewhere in the middle. Some buyers aren’t willing to pay the extra money, and the low appraisal can kill your deal. If you get a cash offer for your home, it might be worth it to really consider taking that deal. Most cash buyers don’t spend the extra money on the appraisal, so you don’t have to worry about it. If you have any other questions about this topic or there is anything we can do for you, a friend, or a coworker, give us a call. We’d be happy to help!