Expert Update

Dated: November 14 2020

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Expert Update

 

What's the Deal with Zestimates?

 

On Zillow, you can see a home's "Zestimate," or estimated value, but often it varies from the tax appraisal value or listing price. Why the discrepancy? Zestimates should be considered a starting range but do not accurately reflect a home's intuitive value. The algorithm cannot account for important physical attributes such as a design, building materials, or updates. A real estate agent can advise you on a price based on the market and your home's condition.1

 

 

 

 

3 Reasons to Sell this Winter

 

Unlike typical winter seasons, winter is a great time to list a house. Sellers can garner top dollar this winter because home inventories are low, and demand isn't slowing. As colder temperatures drive people indoors, homebuyers will continue to look for more space to accommodate working and schooling from home. Another reason not to wait - even if unemployment increases, the housing market is unlikely to slow down until spring.2

 

 

 

 

Avoid Decreasing Your Home's Value

 

One of the best parts of owning a home can be customizing it to your preferences. While it may be tempting to eliminate certain features to make rooms larger or create a more open concept, keep in mind that taking out closets, bathrooms, and laundry rooms typically lower home value. Before swinging a sledgehammer, consult with a real estate agent to see how your vision could affect your future price.3

 

 

 

 

Heater Sales Take Flame

 

Move over toilet paper. Outdoor heaters are the latest in-demand item during COVID-19. Propane-fueled patio heaters are flying off shelves across the nation, smashing sales records as people try to extend their time outside while spending more time at home. Online retailer Overstock reported its sales of patio heaters from March 1 to October 1 climbed by an astonishing 1,150% in the Northeast alone. Consumers have joined restaurants and other businesses in wanting heat sources to accommodate outdoor gatherings.4

 

 

 

 

Home Sales Dip Slightly

 

In September, pending home sales declined slightly by just 2.2%. Yet, despite a small decrease, the demand for home buying remains super strong. Experts still forecast homes sold in 2020 to exceed 2019. Homeowners who had not considered moving before the pandemic are shopping now. Many are looking for larger homes in less densely populated areas thanks to changing work-from-home policies.5

 

 

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Roger Engstrom

Your home is your greatest investment and your satisfaction is the ultimate reward for my work. I am a REALTOR® dedicated to achieve results and provide exceptional service. If you are in the marke....

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