Monthly Archives: December 2014

The Myths and Realities of Home Appraisals

78377971Whether you’re planning on buying or selling a home, chances are good that you’ll come into contact with an appraiser at some point; however, while most of us have a basic understanding of what a home appraisal is, there are a lot of myths that surround the process that are worth understanding before making the decision to buy or sell.

MYTH: The appraised value of a property will vary depending upon whether the appraisal has been completed for the buyer or seller.

REALITY: Since the appraiser has no vested interest in the outcome of the appraisal, they should conduct their assessment with a sense of objectivity and no special regard for the party who initiated the process.

MYTH: A home’s market value should be in line with its replacement cost.

REALITY: While market value seems like it should be related to replacement cost, it’s important to understand the distinction between the two ideas since they are actually quite different.  For example, even though your home’s replacement cost may be set at $450,000, its market value may sit closer to $400,000.  In short, market value represents the amount of money a buyer would likely pay when not under pressure to buy or sell, while replacement cost represents the actual dollar amount required to reconstruct the property in-kind.

MYTH: Appraisers use a formula, which details the specific price per square foot, to settle upon the value of a home.

REALITY: When an appraisal is completed, all factors pertaining to the home’s value are taking into account, including its location, condition, size, proximity to local facilities, and recent sale prices of comparable properties.

MYTH: When the sale prices of homes in any given area are reported to be rising by a particular percentage, local homeowners can expect their individual properties to appreciate by the same percentage.

REALITY: While area can make a difference, value appreciation of specific properties is still determined on an individual basis, which takes into account factors such as data on comparable properties and other relevant considerations.

MYTH: When applying for purchase or refinancing loans, consumers pay for their appraisal, which means they “own” it upon completion.

REALITY: While a small portion of your loan may go towards paying for the appraisal, it is, in fact, legally owned by the lender.  Still, under the Equal Credit Opportunity Act, consumers who submit a written request must be furnished with a copy of their appraisal report.

MYTH: An appraisal is the same as a home inspection.

REALITY: Yes, at first glance the two job descriptions may seem similar; however, their final functions remain quite different.  The purpose of an appraiser is to form an opinion of the value of a home—and to process the resulting report—while a home inspector determines the condition of the home and its major components before stating their findings.

In the end, if you’re looking to add value to your home for an expected appraisal or you would like to know more about the process, it’s important to speak with an experienced Realtor who can help you not only make the right decisions, but feel comfortable about the appraisal proceedings.

If you would like to know more, please feel free to contact me.  I’m always here.

Marie Dinsmore | The Dinsmore Team | www.dinsmoreteam.com | 770-712-7789

New Home Trends for 2015

bigclosetWhile not everyone believes in establishing a New Year’s resolution each January, there’s truth to the idea that most of us still crave some sort of change or new beginning towards the end of December.  Sure, there are a lot of internal things that many of us hope to work on; however, a sizeable portion of our longed-for transformations involve physical things either in our appearance or in our surroundings.

Therefore, if you’re planning on selling your home or you simply want to give your space a fresh new look, it’s important to stay on top of the latest popular home trends.

According to several leading experts, the following is a list of some of the top home remodeling trends in 2015:

1.) OUT WITH THE CERAMIC FLOORING, IN WITH THE LUXURY VINYL TILE – If you’re going for a high-end look at a more affordable price, homeowners in 2015 will be opting for luxury vinyl instead of ceramic.

2.) MORE PAINTED KITCHEN CABINETS, LESS STAINLESS STEEL –  Instead of standard wood staining, you can expect to see more painted cabinets with white trim; however, many people are beginning to move away from stainless steel appliances because they show fingerprints very easily.

3.) MAINTENANCE-FREE COUNTERTOPS – Sure, granite countertops have been the Mecca of kitchen upgrades for a long time, but it’s possible that they may have already seen their day.  Starting in 2015, we’ll start seeing a greater demand for high-end countertops that require much less maintenance, such as soapstone, engineered stone, or zinc.

4.) COOLER BATHROOM COLORS – If you like cool grays, greens, blues, and white, you’ll be thrilled to learn that in the bathrooms of the latest trending homes, buyers are leaning towards cooler colors for both their walls and décor.

5.) ADDING “KEEPING ROOMS” – It’s okay if you’ve never heard of a “keeping room,” as long as you know that they’re rapidly becoming a staple in many new homes.  As a somewhat small room located off the kitchen, it’s a great place for the kids to play with all of their toys or someplace you can use as a study or media room.

6.) LARGER CLOSETS AND BATHROOMS – Surprisingly (or maybe not), less emphasis is being placed upon bedroom space and more is being placed on larger closets and bathrooms.  While large bedrooms seem nice in theory, they tend to be a waste of space since many of us fail to spend much time in them.  To the contrary, closet space tends to be a coveted luxury, as does having enough room to get read in the bathroom each morning.

CONCLUSION

If you’re thinking about placing your home on the market in the spring, now is the perfect time to think about redecorating your home in the hopes of attracting interested buyers.  If you’d like some advice about local trends or want to settle upon the best course of action for your home, please call me.

Marie Dinsmore | The Dinsmore Team | www.dinsmoreteam.com | 770-712-7789

Featured Neighborhood: Avalon in Alpharetta

0114AvalonEatStreet If you’re looking to live the high life without dealing with Atlanta’s gridlocked roads and expensive parking, then Avalon—Alpharetta’s newest mixed-use development—is sure to catch your eye.  Located on 86 acres of land at the intersection of GA 400 and Old Milton Parkway, this $600 million development is more than just the 101 single-family courtyard homes—it includes over 100 exclusive shops and restaurants.

A community designed around the old world charm of walkable cities, residents will be treated to a neighborhood filled with opportunities for alfresco dining, luxury shopping, and nightly entertainment, while also enjoying the privacy of personal courtyards and homes equipped with designer finishes.

3624385788Ranging in price from $600,000 to $2 million, these exquisite Monte Hewett homes come filled with an assortment of upscale touches, such as professional series appliances, open floor plans, oversized master’s suites, and stunning views.  Many of the homes come standard with three-car garages, while others boast custom libraries with grand 14-foot ceilings and multiple fireplaces.

RETAIL

Threads, Anthropologie, Arhaus, Athleta, Banana Republic, BCBG Max Azria, Boston Proper, C Wonder, Calypso, Columbia, Crate & Barrel, Dental Town, Destination Maternity, Dry Bar, Everything But Water, Exhale, Fab’rik, Fly Wheel, Francesca’s, Free People, Fuzzywigs Candy Factory, Gap, Gymboree, J. Crew, J. Jill, J. McLaughlin, Janie and Jack, Kendra Scott, Kinnucan’s Specialty Outfitter, L’Occitane, LensCrafters, Lou & Grey, Marmi Mitchell, Gold + Bob Williams, Note Worthy Paper, Orvis, Paper Source, PNC, Pooch ‘N’ Paws, Pottery Barn Kids, Regal Cinemas, Road Runner Sports, Sage, Soft Surroundings, Sunglass Hut, The Cosmetic Market, Tommy Bahama, Tumi, Van Michael Salon, Velina, Vineyard Vines, West Elm.

54296d710c9a2FOOD/DINING Whole Foods, Antico, Bantam + Biddy, Bantu, Bocado Burger, Caffe Gio, Cru, Goldberg’s Fine Goods, Kona Grill, Marlow’s Tavern, Oak Steakhouse, Pinkberry, Ted’s Montana Grill, The El Felix

SCHOOLS

Elementary – Manning Oaks

Middle – Hopewell

High – Alpharetta

If you have any questions or you would like the assistance of an experienced Realtor, please do not hesitate to contact me.

Marie Dinsmore | The Dinsmore Team | www.dinsmoreteam.com | 770-712-7789

Community Resources

WELCOME

2019 Welcome Services

The Dinsmore Team has created this handy guide for both Buyers and Sellers. The guide lists trusted service providers that we use personally and professionally. The providers listed service the Forsyth and North Fulton County areas.

2014 Complete Guide to Moving

This 20-Page Guide will be your comprehensive source for selling your home and planning your move. It includes tips for getting ready to sell, planning your move, packing and transitioning into your new home.

2014 Home Owners Tip Guide

This 20-Page Guide will help you develop an annual maintenance schedule for your home's systems and appliances to help you avoid bigger problems by taking care of them while they are small. It's also a great resource for trouble shooting malfunctions on your own, saving you time and money.


utilities

Looking for a fast way to connect all of your utility services online? Try Connect Utilities.

Please let us know if there are other resources you'd like to see.

Marie@DinsmoreTeam.com

770-712-7789