Seattle Appraiser

As many of us have painfully watched our home values spiral downward these last few years, there may seem little to remain positive about. With vanishing nest eggs, retirement portfolios that have seemingly disappeared into thin air and an overall feeling of woe is me, take heart homeowners, in at least one small pearl of knowledge. (Well, for some of you anyways.)

Those who heeded the old saying location, location, location when buying real estate will find themselves in a much better position than those who did not. Location plays a big role in a home’s marketability & value and often allows homeowners to weather an economic downturn better than homes in a less desirable location.

The two key factors when determining
a desirable location are:

1) Employment opportunities; and

2) Amenities that are in close proximity to a home.

Access to plenty of long-term, decent paying jobs give homeowners in these areas an edge—as lower unemployment rates and extra income to keep their homes in an updated condition have a direct correlation on a home’s value.

Quality school districts, parks, low-crime rates and retail stores are all examples of amenities that homes in a good location will have access to.

As a local Seattle Appraisal firm we have noticed that the data backs up this old adage
as well. More appealing neighborhoods have typically been less affected by this
real estate downturn. Often the more desirable Seattle neighborhoods don’t have
the new or giant sized home. Instead the homeowner’s purchase the houses due to
their close vicinity to employment centers, schools, shopping and services.

So, for those of you looking to purchase real estate in the future, remember that location should be one of the most important things to take into consideration. And for those homeowners who find themselves already in a great location, good for you! Hang in there!

Many homeowners often wonder what types of upgrades are worth the investment when it comes to boosting the value of their home. The below checklist includes many of the items appraisers are looking for when valuing homes during the appraisal process:

1) One of the best places to increase a home’s value is in the kitchen. Updating and/or modernizing appliances, countertops and cabinetry will likely increase the appraised value of the home.

2) Upgrading bathrooms can also play a significant role in increasing value. Cabinetry, fixtures, flooring and faucets should all be upgraded to maximize bathroom value.

3) The next important upgrade is replacing single pane windows. Double paned vinyl windows not only add to a home’s value, but you will see a cost savings in your energy bill as well.

4) The condition of a home’s exterior paint and roof is also key to maintaining and/or increasing appraised values. Peeling paint on trim, doors, and exterior surfaces is not only an eyesore, but will often lower the value and marketability of a home. The roof should be maintained and missing/damaged shingles should be replaced. A Seattle Appraiser will be looking closely at the exterior and roof of the home as the Seattle climate can degrade these systems quickly if not maintained properly.

5) Forced air heating and/or cooling systems(depending on the location of the home can often be considered standard; if the home lacks a forced air system often the value and marketability of the house will be lower.

Following the tips outlined above will help to maximize your home’s value and increase the overall appraised value of the home.