20 things you should look out for before you buy property

20 things you should look out for before you buy property

Whether you're a first home buyer entering the market, or an investor, buying property is a big decision which requires a great deal of time and research to find the perfect place to suit your needs. Even with the help of services like Urban.com.au and other real estate discovery platforms, it's important to have a checklist in mind to ensure you'll be happy with your choice years down the track.

To help with your search, we've compiled a list of key considerations to take into account when buying property

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Mourning, Moving on, and Making a New Start

Mourning, Moving on, and Making a New Start

When a spouse dies, there is a void that will never be filled. But that doesn’t mean you have to be empty forever. Sometimes, moving away from what you know is the best way to find the strength to carry on. But it is not a decision to be made in haste, and you will need to consider both the practical and emotional aspects of your choice.

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How to Help Your Senior Loved One Downsize into a Smaller, More Manageable Home

How to Help Your Senior Loved One Downsize into a Smaller, More Manageable Home

There comes a time in a senior’s life when they simply have too much stuff and too much living space to live independently. As their loved one, it’s your job to help them through the downsizing process - a process that can be tricky and emotional. Here’s how to do it.

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4 Key Differences Between Assessed Value and Market Value

4 Key Differences Between Assessed Value and Market Value

Homebuyers and sellers may be familiar with the concept of assessed value and market value of properties. But while these values may seem similar, they differ in important ways.

It’s a myth that assessed value should equate to market value. While most states support the concept that assessed value approximate estimated market value, that often is not the case. Examples include when interior remodeling has occurred and the assessor is unaware of the improvements, or when properties in the vicinity have not been reassessed for an extended period.

Here are four differences to help homeowners gain a better understanding of market and assessed value:

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Tap Into Home Improvement Projects That Really Pay Off

Tap Into Home Improvement Projects That Really Pay Off

Home improvement is one of those delightful endeavors that pays off. After all, who can put a price on the joy you receive from transforming your house into a more appealing, livable environment? Nonetheless, some projects have more to offer than others when it comes to boosting resale value. Let's start with projects that are within the skill level of the average person.

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Secondary Mortgage Market: The History of Fannie Mae

Secondary Mortgage Market: The History of Fannie Mae

As a result of the last U.S. economic crisis, a lot of people now know a lot more about the secondary mortgage market. Before the crisis, the secondary mortgage market was a mystery to most Americans, and it was only really important to mortgage lenders and secondary market participants and appraisers. Then all of a sudden, with the well-publicized issues surrounding the housing collapse of 2008, Fannie Mae and Freddie Mac and some of their larger clients and the big lenders became household names. Read on to learn about the history of Fannie Mae and what it means for appraisers.

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10 things to weigh before diving into income property

10 things to weigh before diving into income property

"You’ve been watching HGTV’s “Income Property” and wondering: Is it time for me to buy a rental and become a landlord?

You’re not alone. Between our “Friends”-like economy (“seems like you’re always stuck in second gear”), historically low interest rates, flat-line wages and the mood of millennials to rent instead of own, income property has been on an uptick since the Great Recession.

In fact, for the first time in five years, more Americans are putting their money into investment properties than vacation homes, according to the National Association of Realtors.

Should you? Experts offer a qualified yes, provided you do your homework first.

Here are 10 things to consider before diving into income property..."

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Gross Living Area (GLA)

Gross Living Area (GLA)

"Probably one of the most important elements of a home, in terms of value, is the overall living space or gross living area (GLA). It is probably one of the most misunderstood elements as well. There are a number of standards for calculating GLA but the one that is used by appraisers is the “ANSI” – American National Standard Institute..."

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What is USPAP?

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"The Uniform Standards of Professional Appraisal Practice (USPAP) is...

  

...the generally recognized ethical and performance standards for the appraisal profession in the United States.  USPAP was adopted by Congress in 1989, and contains standards for all types of appraisal services, including real estate, personal property, business and mass appraisal.  Compliance is required for state-licensed and state-certified appraisers involved in federally-related real estate transactions.  USPAP is updated every two years so that appraisers have the information they need to deliver unbiased and thoughtful opinions of value.

To become a real property appraiser in the United States, appraisers must take the 15-Hour National USPAP Course (or its equivalent).  Additionally, real property appraisers must take the 7-Hour National USPAP Update Course (or its equivalent) once every two calendar years."

-- The Appraisal Foundation

/Source

Mark J. Dunbar

Mark began his career by training under his father, Gerald, in the year 2001. He experienced early success as a real estate appraiser trainee. Mark's commercial appraisal experience increased rapidly, and within a short time, he achieved near 100% efficiency on his Appraisal Certification Exam. Mark has become highly proficient in appraising both commercial and residential properties and continues to deliver quality appraisals through his dedicated work ethics.

Who Hires the Home Appraiser?

Who Hires the Home Appraiser?

Home appraisals, they usually play a big roll in a real estate transaction, but that's not the only time home appraisals are ordered and take place.  Below we discuss exactly what a home appraisal is, who orders home appraisals, what they order them for and what people should expect when a home appraisal is conducted.

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Will Adding A Pool To Your Home Increase The Value By More Or Less Than The Cost?

Will Adding A Pool To Your Home Increase The Value By More Or Less Than The Cost?

"There is one thing that comes up again and again during home appraisals: Does adding a pool raise a home’s value by more or less than the cost to build it?

Home swimming pools come in a variety of shapes and sizes and are worth more to some buyers than others — so there aren’t always hard numbers to quantify how much money a pool is worth. For example, in ground pools are valued higher than above ground pools, a family with children may want a pool and a family without may not.

Ultimately, The Best Way To Find Out If Adding A Pool To Your Home Will Increase The Value…"

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Lower-cost Home Renovations Offer Best Value: Appraisal Institute

Lower-cost Home Renovations Offer Best Value: Appraisal Institute

“The latest research shows that home improvements with a relatively low cost are most likely to generate a positive cost-to-value ratio,” said Appraisal Institute President Jim Amorin, MAI, SRA, AI-GRS. “Spending big dollars on major renovations doesn’t necessarily equate to a dollar-for-dollar return. In short: cost doesn’t necessarily equal value...”

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