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For most loans, the lender obtains a signed and completed appraisal report that accurately reflects the marketvalue, condition and marketability of the property. They must take into account all factors that influence a home’s value when developing the marketvalue opinion in the appraisal report.
Highlight new and upgraded features, especially those adding value to your house. Constructing a basement. Updating your house’s decor. One more effective way to increase your home’s marketvalue is to compare it with similar ones and highlight the benefits of your property. Installing a new cabinet.
The updated primary suite now has a free-standing, amoeba-shaped tub Carefully preserved, throwback decor is found throughout—there are terrazzo floors and a conversation pit in the living room that’s surrounded by eye-catching rosewood paneling. In and of itself, it is not marketvalue. million, according to Realtor.com®.
The projected slowdown could also reduce demand for new construction even though experts estimate our national housing shortage is about 4M units today. The researchers acknowledge that with such a steep housing shortage, the construction levels could be higher than their stark projections. Insert audible gasp here, perhaps?
Job market decline: A dwindling job market may prompt homeowners to sell their houses and move to different locations with more job opportunities, creating a buyer’s market. Try highlighting your home’s competitive advantages, taking high-quality photos, and implementing up-to-date decor to create a polished look.
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