Marita Tasse - CRS, ABR, SRES, GRI, LMC - RE/MAX Prof Associates |


Home appraisals are an important part of the buying and selling process. Lenders use appraisals to make sure that the home is worth what the borrower is paying. A home’s appraisal value is based on a number of factors, all of which we’ll discuss in this post.

Whether you’re a buyer, seller, or are just learning about the process of buying a home so you’ll be better equipped in the future, this article is for you.

How is a home appraisal different from an inspection?

While home appraisals and inspections are performed by licensed or certified professionals, they have to different functions. An inspection ensures the safety of a home, as well as whether or not it will need repairs in the immediate or near future.

Appraisals, on the other hand, aim to value a home based on its property value, the size of the property, and the location of the property. The condition of the home is a factor in valuing a home, which is why some people confused appraisals with inspections.

Who pays for appraisals?

Like most closing costs, a home appraisal is a burden that falls on the buyer. Typically, the lender you choose will work with will actually order the appraisal. The cost, which usually amounts to a few hundred dollars, can be added to your closing fees. You can find the cost for an appraisal listed on the Closing Disclosure document provided by your chosen lender.

Which factors determine the home’s value?

To appraise the house itself, appraisers will look at the condition of the home. They’ll also weigh the features of the home in their valuation--things like the number of bedrooms and bathrooms, for example.

However, the two key characteristics of a home that contribute to its value are its age and size.

Which external factors contribute to the home’s value?

As you might suspect, the location of your home matters greatly when it comes to appraisals. Homes are appraised based off of average prices for their neighborhood and region.

Other location factors include how accessible the home is, if it’s located on a waterfront, and whether it has desirable views.

When does a home get appraised?

While your experience may vary based on your specific circumstances, most appraisals occur after a buyer has signed a purchase contract. One this is done, the lender will take the steps necessary to order and process the appraisal.

How long is the home appraisal process?

Once the buyer has signed a purchase contract, the appraisal is usually completed and processed within 7 days. The appraisal report will be sent to the lender. This report contains the appraised value of the home. Buyers are entitled to a copy of this report, and should keep one for their own records.



8 Ridgeview Rd, Sturbridge, MA 01566

Single-Family

$319,900
Price

5
Rooms
3
Beds
1/2
Full/Half Baths
FIRST SHOWINGS START ON SAT, JUNE 5. IDEAL LOCATION ON A SHORT DEAD END ROAD. MINT ONE OWNER LOVINGLY MAINTAINED RANCH HOME in one of Sturbridge's choice (and little known) neighborhoods near Westville recreation area and easy shopping/commuting! A big west facing picture window brightens the living room with a brick fireplace for cozy evenings. Many upgrades include a newer kitchen with spacious dining, all replacement windows and central AC. Special features - jetted tub, master 1/2 bath, completely finished and heated walkout living in the lower level with family room, pellet stove, laundry and half bath. The yard is attractively landscaped with perennials, has a convenient storage shed and will have a new septic system this summer.
Open House
No scheduled Open Houses

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 Photo by Solomon Rodgers via Pixabay

When you've been in the same home for a while, it is common to get an itch to switch things up a little bit. For many homeowners, this means renovating the kitchen. Renovation is a great way to not only add a little bit of style but also increase the value of the home at the same time. There are a few great ideas to think about when it comes to kitchen renovations.

Add a Backsplash

One of the most popular kitchen renovations is to install a backsplash. This is a great way to upgrade and personalize the food prep area. Furthermore, a backsplash is easy to clean, functional and durable. There are plenty of ideas that people can use to make their kitchen backsplash unique. Consider neutral stone tile with colored or patterned pieces randomly interspersed, a pressed metal design or colorful glass tiles.

Open Up The Area

Consider opening up additional space in and around your kitchen. This can be accomplished with the removal of upper cabinets, introducing a window or skylight or, for a larger-scale project, removing walls to connect with other rooms. If you can't change the floorplan of your room, swapping in glass-front cabinets or open shelving for your upper cabinets can create more visual space.

Add Flair to the Counters

Counters are a common target for kitchen renovations. Styles change and, over the years, you may find the need for additional space. One solution is to add a kitchen island. This adds both storage space and workspace for your kitchen. Don't be afraid to go with unique countertop materials like concrete or wood.

Upgrade the Appliances

Finally, consider upgrading appliances to incorporate new technology and conveniences. Newer appliances not only come with new features like convertible compartments and touch screens but are also more energy-efficient than older models. This means you might also be able to save additional money over time with this investment.


Want to relocate to a condo? With assistance from a real estate agent, you should have no trouble moving into the condo of your choice.

Employing a real estate agent with condo experience is ideal, particularly for property buyers who are considering condos for the first time. However, it is important to note that not all real estate professionals with condo experience are created equal, and some stand out for all the right reasons.

Ultimately, there are several factors to consider as you search for a real estate agent to help you find the perfect condo, including:

1. Expertise

How many years has a real estate agent been assisting condo buyers? Does a real estate agent know how to get information from a homeowners' association (HOA)? And can a real estate agent set up condo showings at your convenience? These are just a few of the questions that condo buyers need to consider before they employ a real estate agent.

As a condo buyer, there is no need to settle for a subpar real estate agent. In fact, real estate agents with condo expertise are available across the country. And if you conduct a comprehensive search for the right real estate agent, you should have no trouble finding a real estate professional who can guide you along each step of the condo buying journey.

2. Communication Skills

How does a real estate agent keep in touch with his or her clients? Try to find a real estate agent who provides regular updates throughout the condo buying process. This real estate professional will make his or her clients a priority and do whatever it takes to help them get the best results possible.

Ideally, you should be able to get in touch with a real estate agent via phone, email or text. And if a real estate agent is unavailable, you usually should expect to hear back from him or her within a few hours at most.

A real estate agent who is readily available will be able to provide you with the condo buying support that you need, any time you need it. As a result, this real estate professional can keep you up to date about new condos as they become available, the state of negotiations with a condo seller and much more.

3. Client Satisfaction

Are past clients satisfied with the support that they received from a real estate agent? Ask a real estate agent for client referrals to find out.

Reaching out to past clients can provide you with a better idea about how a real estate agent will assist you during the condo buying journey. That way, you can determine whether you will feel comfortable working with this real estate agent or if you should consider other options.

Dedicate the necessary time and resources to find a great real estate agent to help you find your dream condo. By doing so, you can move one step closer to making your condo ownership dreams come true.



146 Charlton St, Southbridge, MA 01550

Multi-Family

$369,900
Price

3
Units
4,278
Approx. GLA
Open House Saturday May 22nd from 12-2pm!! Located conveniently in the heart of Southbridge, this is an amazing investment opportunity. Third floor is vacant, rent it out or make it your new home. Each unit is 3 bedrooms 1 bath with washer and dyer hookup. Lots of character and natural wood work. Plenty of storage inside and out. Off street parking for all units. Great flat yard. All units separately metered for utilities. Gas heat and stove. Fully updated electrical to current codes, new boxes and meters including landlord box. Recently replaced water heaters.
Open House
Saturday
May 22 at 12:00 PM to 2:00 PM
Desirable well maintained 3 family opportunity - ideal for owner occupied or investment! All 3 floors are similar with 3 BRs, eat-in kitchens with working pantries, 2 parlors, French doors, natural woodwork, hardwood floors, great closet space in each apartment and extra storage units, new elec panels to code. Plenty of off street parking and a spacious level back yard! PLEASE CONFORM TO COVID GUIDELINES, WEAR MASKS AND BE CONSIDERATE OF OTHERS AT OUR OPEN HOUSE BY KEEPING A SAFE DISTAN
Cannot make the Open Houses?
Location: 146 Charlton St, Southbridge, MA 01550    Get Directions

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