The size of a home — i.e. the square footage — is a big player in its appeal, value, and general marketability. It’s also where disputes tend to arise, largely because there are some variations in how that dwelling size is calculated. That’s why understanding and observing industry-accepted terms to define the size of a home are really important. “Gross Living Area” Appraisers use three ways to determine the value of a home, all of which are outlined in the …
Month: May 2021
Another effect of the pandemic — pools have nearly doubled in value. A recent survey found that before the pandemic, homes with a pool sold for around $16,000 more than comparable homes without pools. Now, a home with a pool is going for roughly $27,000 more on average. Why does this matter, and more importantly, does it mean you should have a pool put in? A Nation-Wide Trend In warm parts of the country, pools were already an attractive feature. …
Did you catch that Wall Street Journal article, “Americans Up & Moved During the Pandemic”? The big takeaway for San Francisco in the piece was that loss of households doubled in 2020 from 2019. But let’s look a little closer. Their analysis, which was based on permanent postal change-of-address filings in 2020, missed a few things. It did not include foreign migration, which plays a big role in Bay Area counties, nor did it include the effects of births and …
Stop me if you’ve heard this one before. You’re ready to buy a new home, but all your equity — including the down payment for the new place — is tied up in the house you currently own. What are your options? In most cases, it’ll come down to a bridge loan, but there are a few considerations. The Ins and Outs of Bridge Loans First, it’s important to understand that not every bank services this type of loan. So …
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