
AVERAGE 30 YEAR RATE
February 20th, 2012
Towers and turrets in Maine
February 15th, 2012Listing of the week: Towers and turrets in Maine
By Erika Riggs, Zillow
Norumbega Castle, Camden, Maine
For sale: $1,790,000
As explorers crisscrossed the oceans in search of The New World, facts of their journeys sometimes mixed with fiction. Some searched for the lost city of Atlantis. Spain’s Juan Ponce de Leon went after the Fountain of Youth. France’s Jean Allefonsce spoke of Norumbega as a large, rich native city alongside the banks of an enormous river in what is today the state of Maine.
Explorers were never able to find that fantasy city, but the legend never died. In 1886, Bangor, Maine, embraced the legend of Norumbega, when eccentric inventor Joseph Stearns built his tribute to the fabled city: An enormous stone castle sitting on the coast of Camden.
Camden Real Estate Company
Norumbega Castle circa 1800s.
Originally from Maine, Stearns became a millionaire with his invention of the duplex telegraphy, which he sold to Western Union.
When Stearns decided to build the Norumbega Castle, he spent a year visiting European castles for inspiration. He hired New York architect Arthur Bates Jennings to incorporate his favorite castle features.
Situated on nearly four acres, Norumbega is 10,330-square-feet and has 12 bedrooms and 13.5 bathrooms. Stunning period woodwork, ornate stone fireplaces and views of the bay are featured prominently throughout the house.
Listing agent Scott Horty of the Camden Real Estate Company explained his favorite details of the home:
“[It] has the coolest stair landing complete with a fireplace and built-in window seats and stunning woodwork,” he said.
And in case you’ve ever wanted to sleep like royalty, the main turret is a bedroom.
Converted into an inn in 1984, the home is still available as a single-family property. Described as the “jewel of the Maine coast,” Camden is a historic hamlet nestled between mountains and ocean.
According to Zillow’s mortgage affordability calculator, the estimated monthly payment for the Norumbega Castle would be $6,602 a month, assuming a 20 percent down payment on a 30-year-fixed mortgage rate.
In addition, the carriage house that once belonged to the Norumbega Castle is also for sale.
In the 1970s, the carriage house was split from the property as a separate, single-family residence. Like the castle, the carriage house is listed on the Camden real estate market, and features Victorian-era design.
Priced at $4.75 million, the Norumbega carriage house has had a complete renovation.
Listing of the week: The house that Big Mac boxes built
February 8th, 2012Listing of the week: The house that Big Mac boxes built
By Erika Riggs, Zillow
50000 Royal St., Park City UT
For sale: $49,500,000
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John Huntsman Sr’s house.
When you have nine children and 56 grandchildren, your winter vacation getaway probably leans more toward mansion than cabin.
Jon Huntsman, Sr.’s Park City home has 20,000 square feet of living space and 12 bedrooms — two of which are bunk bedrooms with 20 mattresses — enough room for his children and grandchildren, as well as any guests.
The father of former Republican presidential nominee Jon Huntsman, Jr., Huntsman Sr. began his business career in an egg-producing company in Los Angeles. He rose through the ranks, culminating with his contributions in the invention of the plastic egg carton. That success led him to form the Huntsman Container Corporation, which manufactured the “clamshell” container for McDonald’s Big Macs and as well as plastic plates, bowls and containers for other fast-food companies. He then founded Huntsman Chemical, transitioning it to the Huntsman Corporation, which went public in 2005.
The Huntsman patriarch designed the home for his family in 1989 out of reclaimed logs from the forests surrounding Yellowstone Park, said listing agent Paul Benson of Summit Sotheby’s International Realty.
“The whole home, even the guest rooms, are filled with timber ceilings and walls,” explained Benson.
The home contains several living areas with cathedral ceilings, stone fireplaces and picture windows, as well as a dining room that seats 20, a paneled library, fitness center and children’s playrooms and massive indoor pool.
Many of the furnishings in the home are available for purchase as well. Benson notes that the estate holds one of the largest collections of American Indian art in the U.S.
Situated in Utah’s ski haven of Upper Deer Valley on 60 acres, the property is private, yet accessible. The seclusion of the home is perfect for the Huntsman family to entertain high-profile guests. Huntsman Sr. previously served as the national committeeman for the Republican Party of Utah, as well as special assistant and staff secretary to President Nixon. Before running as a Republican party presidential nominee this past year, Huntsman Jr., was governor of Utah and an ambassador to China under President Obama.
Huntsman Sr. first listed his home on the Park City real estate market in September 2009 for $55 million. The house was removed in April 2010 and later re-listed with its current lower price. According Benson, Huntsman is letting go of the property to focus on his new development: Huntsman Springs, a golf course and high-end community in Driggs, Idaho
According to Zillow’s mortgage payment calculator, a monthly payment on Huntsman’s estate would be $182,093, assuming a 20 percent down payment on a 30-year-fixed rate mortgage.
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Huntsman’s home includes an enormous indoor pool.
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Some of the rugs, art and other furnishings are also available for sale.
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Celeb real estate: Scarlett and Ryan list, Johnny Cash’s final home for sale, Tae Bo guru Billy Blanks sells
February 7th, 2012Celeb real estate: Scarlett and Ryan list, Johnny Cash’s final home for sale, Tae Bo guru Billy Blanks sells
By Erika Riggs, Zillow
ScarJo’s and Ryan Reynolds’ former love nest for sale
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Scarlett Johannson and Ryan Reynolds’ gorgeous former home.
When Scarlett Johannson and Ryan Reynolds announced their engagement in 2008, it seemed like an A-Lister match made in Hollywood heaven, akin to the beautiful pairing of Brad and Jennifer Aniston. Unfortunately, like Brad and Jen, the celebrity union didn’t last and after three years of marriage, Scarlett and Ryan filed for divorce.
A little over six months after finalizing their divorce, the couple has cut another tie to their marriage and placed their Los Angeles home on the Los Feliz real estate market for $3.65 million
Named the “Wong House,” Scarlett and Ryan’s home is a classic mid-century modern home designed by Buff & Hensman in 1969. Perched on nearly half an acre, the glass-walled home features sprawling views of the city below. Typical of an outdoor California lifestyle, the home’s enormous living areas open out to spacious decks, a salt-water pool, and grassy yard.
Tennessee home where Johnny Cash lived his final days for sale
Johnny Cash spent his final days at this ranch house.
One of the most famous homes in country music — or any musical genre, given the reach of Johnny Cash’s career — was the home of Cash and his wife, June Carter Cash.
The property at 200 Claudill Drive in Hendersonville, Tenn. — which figured in the award-winning Cash biopic, “Walk The Line” — was the Cash family’s home for nearly all of their 35-year marriage. The massive, 13,880-square-foot home, runs along on Old Hickory Lake.
What is less known, however, is that Cash wound up living in the house he owned across the street at 185 Claudill Drive. The ranch home was built by the same architect, Braxton Dixon, and Cash had used it to house his own parents prior to their passing.
“He spent his last days there after it was harder for him to get around in a wheelchair in lake house,” said Stan Peacock, whose father-in-law the — a former Grand Ole Opry musician — bought the house from the Cash family in 2004.
The ranch house, which was always referred to as “Mama Cash’s house” because it was where Cash’s mother lived, has been listed for sale on and off since 2009. It was last listed for $595,000. While it is not officially on the market right now, Peacock with Crye-Leike Realtors in Hendersonville said interested buyers could reach out to him.
In addition to being the place where Cash last stayed, the house at 185 Claudill Drive once housed some very unique Cash mementos, including the Gold Record for “I Walk The Line.”
Read more about Johnny Cash’s house.
Tae Bo guru Billy Blanks sells Hidden Hills home for $7.3 million
Zillow
Billy Blanks’ former home opens out to a large pool and landscaped yard.
Jazzercise, Yoga, Pilates and Zumba — fitness crazes come and go, but none ruled the ’90s more than Billy Blanks’ Tae Bo home workout. Blanks’ workout videos made him a household name and pop culture icon.
Blanks recently sold his home, which was listed on the Hidden Hills real estate market, pocketing close to $5.8 million in profit from the recent sale.
The home was initially listed with an asking price of $11.5 million back in October of 2008 after Blanks and his wife of 33 years divorced. Three years and several price cuts later, Blanks finally kicked free of his one-of-a -kind pad for $7.3 million.
Blanks’ one-of-a-kind Mediterranean estate has more than enough room to work out in with over 16,000-square feet of living space, that includes 7 bedrooms and 12 bathrooms. True to many multimillion dollar estates, the home includes over-the-top amenities like an indoor basketball court, massive home theater, game and piano rooms. The master suite includes a stone bath, and private balcony with staircase to the pool, spa and grotto. Surprisingly, the listing doesn’t include a home gym
Housing Market Down Nationally, Booming In Shreveport/Bossier City
February 6th, 2012Housing Market Down Nationally, Booming In Shreveport/Bossier City
Shreveport/Bossier One Of Five Markets That Saw Comparative Boom In 2011
POSTED: 1:28 am CST February 6, 2012
SHREVEPORT, La — The U.S. Housing Market suffered its worst year in half a century in 2011. So far in 2012, it has failed to recover.
According to an AP source, at the end of last week, 30-year fixed-rate mortgages averaged 3.89 percent, down from 4.8 percent last year. 15-year fixed-rate mortgages averaged 3.24 percent, dropping from 4.09 percent last year. Several markets have seen huge declines in home values. Atlanta saw a decline of 11.8 percent, followed by Las Vegas at 9.1 percent.
While many suffered painful losses, some places saw a comparative boom. Realtor.com released a list of the five best housing markets in 2011. The Shreveport/Bossier City area ranked second, only behind Ft. Myers, FL. Our area locally saw a median list price of homes jump to $168,000, which was a 7.01% gain.
Chris LeGrand with Reality Executives in Shreveport says that one of the reasons the Shreveport/Bossier City area has thrived is the low interest rates nationally.
“Lets say seven years ago, interest rates were almost twice what they were now, over the long run that saves people thousands and thousands of dollars,” said LeGrand.
Some places have been unable to take advantage of the low rates because of a slumping economy. That hasn’t been the case in the Shreveport/Bossier City area, where the economy has continued to thrive.
The unemployment rate locally has hovered around 6 percent, well below the national average.
David Hoass, Professor of Economics in the Frost School of Business at Centenary College says that this has allowed job seekers the ability to tap into the wide variety of industry in the area. This includes the Haynesville Shale, the casinos and other staples.
“We have Barksdale Air Force Base, there not going anywhere, we have state and local government, that’s not going away,” said Hoass.
According to an AP source, with the spring home selling season on the horizon, many expect the housing market nationally could recover this year.
Listing of the week: From farmhouse to ferryboat, couple do not settle for boring
February 1st, 2012Listing of the week: From farmhouse to ferryboat, couple do not settle for boring
By Erika Riggs, Zillow
Mackenzie-Childs estate, Kings Ferry, N.Y.
For sale: $1,100,000
Zillow
Richard and Victoria Mackenzie-Childs stand in front of their estate.
Calling it “rustic” would be too kind. Perhaps “dilapidated” or “a tear-down” would be a better description for the upstate New York farmhouse artists Richard and Victoria MacKenzie-Childs purchased in 1980 and brought back to life. It is now for sale for $1.1 million.
The circa-1790 home had been abandoned for 30 years. The only signs of upkeep were the boarded-up broken windows. Undaunted, the struggling ceramic artists who turned their fanciful sensibilities into a multimillion-dollar enterprise through their MacKenzie-Childs line knew what they were looking at. Even if no one else, including the previous owners, could see it.
“How we would describe livable may be different from someone else,” said Richard. “Every window was broken. Electricity was minimal; I think we had a single light bulb.”
Mackenzie-Childs
Mackenzie-Childs house, circa 1980.
Even more rustic was the heating source, or lack of one. For six years, the MacKenzie-Childses didn’t have central heating, but instead, used the home’s original fireplace.
“We were busy doing other things,” Richard explained. “We were hardy enough so it didn’t bother us. We thought if people had survived 200 years without heat, we could.”
Doing other things meant restoring the farmhouse and transforming the 42-acre estate into a wondrous, whimsical place. They also started their successful line of home decor there. That business turned into such a success they opened stores on Rodeo Drive in Beverly Hills and Madison Avenue in New York.
“We built everything,” said Richard. “That’s what ended up propelling us into our business.”
The couple no longer own MacKenzie-Childs. Facing bankruptcy, they sold the company in 2001 for $15.3 million to Pleasant T. Rowland, founder of American Girl. But the line of playful wares — ceramics, furniture, art and jewelry — is still hot in high-end stores like Saks Fifth Avenue and Neiman Marcus. Fans include the hard-to-impress set, including Barbra Streisand, Joe Montana, Bill Cosby, Garrison Keillor, Geena Davis and former President George H.W. Bush and former first lady Barbara Bush.
Secret passageways
The MacKenzie-Childses’ fanciful and colorful style is reflected throughout the farmhouse. From hand-painted tiles throughout several rooms, secret passageways leading to bedrooms, a handwritten poem that wraps around an upper hallway and a “toilet seat that includes an intricate painting of the reverse of room,” the property is one-of-a-kind, says listing agent Mike Franklin of Sotheby’s.
“The house is a museum of MacKenzie-Childs artifacts,” he said.
In addition to the captivating farmhouse, the MacKenzie-Childs estate includes a carriage house with additional living quarters, an artist’s studio, office and retail gift shop on 43 acres bordered by the Cayuga Lake Wine Trail. It totals seven bedrooms and four baths.
The surrounding grounds are part of the property’s allure: Recycled ballast stones pave the driveway and courtyards, and twisted vine canopies and colorful gardens surround the buildings.
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Much of the home reflects the Mackenzie-Childs’ whimsical taste.
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The master bedroom includes a working clawfoot tub.
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Each of the tiles in the sunroom were hand-painted by the artistic couple.
Next stop: Ferryboat
While the MacKenzie-Childses love the farmhouse, they’ve moved and are ready to find a buyer who will “fall in love with the home the way we did,” said Richard.
The pair are currently living on an Ellis Island ferryboat docked in Hoboken, N.J.
Wait, a ferryboat? In Hoboken?
Turns out that the New York City apartment they tried to inhabit after selling their company could not contain them — or their imaginations — as they worked on their new line, Victoria and Richard Emprise.
“We weren’t very good at apartment dwelling and needed more space,” Richard said.
Victoria was the first to hear about the historically significant ferryboat and the couple was naturally pulled to the challenge. Previously called the Machigonne, the circa-1907 ferryboat (below) — now called the Yankee — was first used in World War I to carry supplies. In the 1920s, the boat shuttled new immigrants from Ellis Island to Manhattan. In 1990, a buyer for the then-abandoned boat began the process of converting it into a home. The Mackenzie-Childses purchased the ferry in 2007 and continued the restoration, adding their usual fanciful touches.
Mackenzie-Childs
The Mackenzie-Childs’ current home is a historic ferry boat.
Turns out the boat is being used as a little bait for prospective buyers of the couple’s farmhouse. Whoever buys the MacKenzie-Childs estate can tour the ferryboat, a home that real estate agent Franklin says is as wild as the farmhouse. And if that’s not enough, the couple is throwing in dinner on the boat with them.
Any takers?
Wild homes of the future that are for sale now
January 30th, 2012Wild homes of the future that are for sale now
Modern design aesthetics combine with technology to create cutting-edge residences
We may not have flying cars yet, but a new residential construction project going up in Sunny Isles Beach, Fla., may make you think otherwise.
The Porsche Design Tower will feature an elevator to lift owners — and their cars — to their front doors in seconds. A co-production of developer Dezer Properties and Porsche Design Group, the retail-oriented spin-off company of the luxury German carmaker, it will be the first residential project affiliated with the Porsche name. These car-friendly condos will range from $2.9 million to $9 million.
“You will drive into the building, onto the elevator ramp, shut the ignition off and be magically whisked to the front door of your apartment in 45 seconds to a minute and 15 seconds depending on what floor you’re on,” explains Gil Dezer, president of Dezer Properties. The elevator will cover all 57 floors and include technology that automatically identifies the car and the unit owner once both are on board.
Forbes.com slideshow: See some futuristic homes that are for sale
It’s just one example of how modern design aesthetics have coupled with technology to birth innovative, cutting-edge homes that not so long ago would have been reserved only for the sets of films like “Minority Report” (or TV shows like “The Jetsons”).
We rounded up a selection of futuristic abodes that challenge traditional McMansion layouts. Some are relatively new homes designed with green living in mind while others are the decades-old brick and mortar visions of celebrated artists. Realtor.com, Zillow.com, Coldwell Banker Previews International, Sotheby’s International Realty and others helped us sort through listings to handpick the sleekest, most avant-garde, in some cases zaniest, homes on the market. They conjure images of science fiction lore, and in many cases, have actually been rented out by movie and television studios for that express reason.
Perhaps not surprisingly, many architecturally famous homes fall into this category. For example, the Gantert Residence, also known as “Case Study House #22,” graces our list. Constructed in the early 1980s, it was the last Pierre Koenig house constructed while the architect was still alive. The $2.3 million Los Angeles residence with its boxy upper floors and cantilevered base gives the impression of a residence floating, appearing “as a giant Cubist sculpture from Hollywood Boulevard,” according to its listing.
California has many ultra-modern abodes up for grabs, particularly in Southern California. “The trend in real estate right now is demand for contemporary homes,” says Chad Rogers, a real estate agent with Hilton & Hyland in L.A. (and formerly one of the stars on Bravo’s TV show “Million Dollar Listing”), noting that many of the most modern-looking structures tend to be “smart homes,” fitted to be energy efficient, as well. “People want easy living and these properties afford that: clean lines and open space so you can move about your house without having to go through a bunch of rooms.”
Rogers, who has listed a smattering of futuristic properties including a $9.5 million Malibu eco-estate, currently represents a $10 million Hollywood Hills mansion forged of steel, glass and concrete. The 10,000-square foot structure was built originally as an art gallery with live-in space. In addition to the stone display-ready walls, it boasts a home theater, a pool and 12-person spa, a koi pond and a detached guesthouse. The kitchen is comprised almost entirely of stainless steel, designed by Porsche Design Group.
“These concrete and steel properties are the most expensive type of architecture to build,” says Rogers, noting that foreign investors have shown much buying interest in ultra-modern estates. “To duplicate a property like this you’re looking at a minimum of $1,500 per square foot to do it.”
Constructing architecturally outrageous homes can rack up costs. Take the Pottery House in Santa Fe, N.M. Originally the brainchild of Frank Lloyd Wright, the adobe dwelling’s construction was resuscitated in the 1980s by a developer eager to complete the project that had been designed by the famed late architect but never finished (the original owner had passed away). The builder reportedly ran out of money mid-construction and with no buyer in sight, the bank assumed ownership. Eventually the current owners bought the foreclosed estate, which is now listed for $4.75 million, and finished it.
The Pottery House’s design hinges on concentric circles. About 24,000 adobe bricks make up the structure and Scandinavian ship builders were actually brought in to craft the ceiling. “It has a sort of mystique. Prior to listing, this house seemed more like a local rumor,” says David Fries, an associate broker with Santa Fe Properties and the listing agent for the Pottery House. It had remained quietly tucked away behind multiple gates in an anonymous subdivision. “Even if someone could get their hands on the address, it no longer really relates to where it’s located since no one could really find the place without directions and gate codes.”
Fries and Rogers both think their listings will ultimately sell to affluent buyers who collect art or at least appreciate architecture as an art form. Some of the homes on our list will require buyers to appreciate geometry as well. A $19.5 million Vermilion, Ohio, spread called the Waterwood Estate is comprised of a series of triangular and rectangular buildings parsed together along the shore of Lake Erie. In Crystal Bay, Nev., a $43 million Dr. Seuss-esque house touts walls of glass, a glass elevator, a six-story glass stairwell and hidden garden rooms, all suspended off the edge of a promontory.
Towering over Maine in your own lighthouse
January 24th, 2012Towering over Maine in your own lighthouse
Zillow
The lighthouse was a specific part of this Maine home’s design.
By Erika Riggs, Zillow
85 Buck and Doe, Deer Isle, Maine
For sale: $2,873,000
Long before GPS and smartphones, sailors depended on the blinking light of a far-off lighthouse to guide them. Although ships no longer rely on lighthouses, there’s still something alluring about a lighthouse, sitting alone as a beacon on the shore.
The romanticism and appeal of a bygone era is captured in this Maine home for sale, which is located on Maine’s Penobscot Bay. Although the statwe has more than 60 lighthouses, this home was not converted from a previous working lighthouse. Rather it was built as an unusual, private residence with a lighthouse tower affixed.
The current owner bought the residence partially unfinished and completed the construction in 1990. Listed on the Hancock County real estate market, the lighthouse home sits only 10 minutes from two local towns, but has a private and remote feel, explains listing agent Story Litchfield.
The 5,859-square-foot home features enormous living areas with floor-to-ceiling windows and of course, an attached tower that has 360-degree views from its top look-out point.
“The top floor is totally surrounded by windows and you can see so far because it’s so high,” Litchfield said.
On the floor of the lighthouse is an enormous chart and map of the area to explain the surrounding views.
In addition to views of the Atlantic Ocean, islands and Camden Hills, the 4-bedroom, 4-bath home has a gourmet kitchen, two-story granite fireplace and cathedral ceilings. Two of the bedrooms are located in the lighthouse tower on the first floor.
With current mortgage rates, and assuming a 20 percent down payment on a 30-year-fixed mortgage, a monthly payment on the lighthouse home is $10,660 a month.
Zillow
A granite two-story fireplace dominates the living room of the home.
Zillow
The stone lighthouse is located on Maine’s Penobscot Bay.
December Existing-Home Sales Show Uptrend
January 23rd, 2012| December Existing-Home Sales Show Uptrend |
| Existing-home sales continued on an uptrend in December, rising for three consecutive months and remaining above a year ago, according to the National Association of REALTORS.
The latest monthly data shows total existing-home sales1 rose 5.0 percent to a seasonally adjusted annual rate of 4.61 million in December from a downwardly revised 4.39 million in November, and are 3.6 percent higher than the 4.45 million-unit level in December 2010. The estimates are based on completed transactions from multiple listing services that include single-family homes, townhomes, condominiums and co-ops. Lawrence Yun, NAR chief economist, said these are early signs of what may be a sustained recovery. “The pattern of home sales in recent months demonstrates a market in recovery,” he said. “Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market.” |
10 tips to boost your home’s appraisal
January 18th, 201210 tips to boost your home’s appraisal
Lowball appraisals can kill deals. Here are the top ways to keep your home’s look, feel and condition as updated and cared-for as possible.
By S. Mitra Kalita of The Wall Street Journal

© Joshua Lott/Reuters
The appraiser was due in an hour. The beds were unmade, breakfast dishes in the sink and toys scattered about the playroom. Would she care?
I got moving — and cleaning. At 34 weeks pregnant, that’s not so easy.
After all, I know lowball appraisals can kill deals.
They can also kill a refinancing application, which we are in the midst of for our 1920s Georgian-style house in Queens. If an appraisal comes in too low, it’s not worth refinancing, or you might need to put in a whole lot more equity.
We don’t know how ours turned out yet, but after talking to a handful of appraisers, I felt great regret at not doing more to plan and prepare. Here are some tips based on those conversations.
Caution: Some of the advice — like home valuations themselves these days — might seem contradictory. But what all the appraisers agree on is the importance of keeping the look, feel and condition of the property as updated and cared-for as possible.
1. Spruce up the house. Appraisers say that you don’t need to deep-clean under couches and that a few dirty dishes won’t hurt your home’s value. But rats, cockroaches and that car you’ve been tinkering on might. “Things like overgrown landscaping, soiled carpeting, marks on walls — those do affect value and are part of the property’s overall condition rating,” said Dean Zibas, the president and chief appraiser for Zibas Appraisal in San Clemente, Calif. In other words, think broom clean, not set design for a home-decorating magazine.
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Add to your home’s value with outdoor upgrades
Date:7/15/2011Duration: 004:0049Video By: TODAY
July 15: TODAY contributor George Oliphant reveals how to give added beauty and value to your home with outdoor upgrades and ways to enjoy those improvements in the warm months ahead.
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2. Curb appeal also matters, so mow the lawn, hack those weeds and trim those hedges. This can also help offset your house from unfair comparisons with foreclosures nearby. “In today’s climate, I can’t stress enough: condition, condition, condition,” said Doreen Zimmerman, an appraiser in Paradise, Calif. “An hour or two, for the most part, will set your home apart in the actual picture that the lender gets from the appraiser versus the actual picture that the appraiser will provide of the (foreclosure) down the street.”
3. Keep a list of all the updates you’ve made and be ready to hand it over; a sketch plan of the house indicating square footage also helps. “Have a list of updating done within the past 15 years. Itemize each update with the approximate date and approximate cost. Also highlight the notable features of the property,” says Matthew George, the chief appraiser of Eagle Appraisals in Denver. Remember the items that an appraiser might not notice, such as a new roof or insulation. Don’t forget the minor items. For example, I mistakenly told the appraiser we hadn’t updated one bathroom, but actually we had installed a new sink and had the tub sealed. That counts, the experts say.
4. Have comps on hand. Yes, this is the appraiser’s job, but every little bit helps — especially if you are aware of a nearby property that sold without the aid of a real-estate agent, says Mark T. Smith, the owner and president of Smith Appraisal Services in St. Augustine, Fla. That can mean it wasn’t posted on the multiple listing service, and can result in other delays by the time it gets posted through other government data sources.
5. Be mindful of peeling paint. Loans insured by government agencies, such as the Federal Housing Administration or the Veterans Administration, will require peeling paint to be removed in houses built before 1978. But don’t worry too much about a child’s scrawling on his bedroom wall, unless it’s going to require a whole new paint job.
6. Focus. “Don’t spend money that won’t yield a return on the investment. The best expenditures for most markets are paint, carpet, light and plumbing fixtures,” George says. Prioritize what you do; if you’re the type of homeowner who has upgraded and fixed items as they broke, you should be fine.
7. Location still matters. If there have been changes to the neighborhood, mention them, from a new playground to a new Whole Foods. If the area has been declared a historic or landmark district, let the appraiser know.
Read: 5 future-proofing tips for home remodeling projects
8. Keep the $500 rule in mind. Appraisers often value houses in $500 increments, so if there’s a repair costing more than $500 that can or should be made, it will count against the property. Fix leaky faucets, cracked windows, missing handrails and structural damage.
9. Remember the concept of “effective age,” the age the appraiser can assign to a home after taking into consideration updating and condition. “Say you have a cracked window, threadbare carpet, some tiles falling off the shower surround, vinyl torn in the laundry room and the dog ate the corner of the fireplace hearth,” says Zimmerman, who wrote the book “Challenge Your Home Appraisal” and runs a website by the same name. “These items could still add up to an overall average condition rating as the home is still habitable. However, your effective age will be higher, resulting in comparables being utilized which will have the same effective age and resulting lower value.”
10. Lock up Fido and Fifi. Appraisers say they get annoyed enough by homeowners following them around, but a snarling, growling dog is even worse. Along the same lines, try to make the appraiser comfortable — if it’s cold out, put the heat on; if it’s hot out, the air conditioning. “If it’s 100 degrees out and you never put the air conditioning on, put it on for the appraiser so they don’t question that your unit is broken,” Zimmerman says.
With those things in mind, let the appraiser do his job. “Questions and banter may make the inspection go slow or make the appraiser miss something,” said James R. Gerot, a residential appraiser in Ottumwa, Iowa. “My inspections have a rhythm to them, so once I get started, interruptions are just that. Save questions until after.”






