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Denison Real Estate News / Buyer – Seller TipsDenison LotFinancially that may be a good strategy but take heed and purchase your Denison lot with care. Why? Because it can happen that the lot you buy today is not suited at all for the Denison home you want to build in the future. Here are some things to watch out for. Denison Homeownsers InsuranceDenison Home Safety Measures. You can usually obtain insurance discounts for having a smoke detector, burglar alarm or dead-bolt locks. However, take note that some fire systems can be costly and not every system may qualify for an insurance discount, so check with your insurance company first. Don’t Over-Insure. Homeowner’s insurance is designed to protect you against loss should your Denison home and furnishing be damaged or lost through theft, windstorm, fire, etc. The land under your home is not insured, as it is not at risk. If, in considering value, you include the cost of the land under your house, you may end up paying a higher insurance premium than you should. Denison Housing PatternsDenison Housing patterns tend to be homogenous, meaning homes worth $100,00 are located in $100,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price. Remember, lenders want to compare your home to nearby homes. If your Denison real estate is located in a neighborhood of $100,000 homes but you have added another $100,000 in improvements, you may have over- improved your property in that lenders will be reluctant to lend the higher amount. Many sellers think that the price of their home is determined solely by what they are willing to accept and what the buyer is willing to pay. However, the lender’s appraisal in Denison is one more variable and it can complicate the sale of your home. In these cases, it helps to have a knowledgeable REALTOR working on your side. Denison. How Much Should You Offer?Or more precisely, what does the seller owe on the property. If a seller owes $400,000 on the Denison real estate he or she is not likely to welcome an offer for $350,000. If you want to negotiate price, make sure you don’t waste your time negotiating where there is no room to budge. Even if the loan is high, if the seller is in default there is a possibility of a short sale as many lenders will reduce the loan balance in order to move the property. Most lenders do not want to foreclose and manage homes and the Denison market is no exception. Bitten by the Denison Home Improvement Bug?Before you finalize your decision regarding remodeling versus moving, it is wise to get a professional estimate of your Denison home’s current value, the actual costs of moving to a different home and the estimated return on investment of the most common types of home improvement. I’ll be happy to provide you with a complimentary analysis of your home’s current value. Simply call or E-mail me whenever you are ready. As for improvements that traditionally bring the highest rate of return on investment, here are some statistics. Kitchen remodeling and adding a bath tends to bring rates of return with averaging anywhere from 85% to 95% return on your dollars spent. Compare that with the 64% return on investment for adding a home office. What Makes Denison Sell?People often ask me when is the best time to sell my Denison? I usually reply that if you want to get the best price for your home, it is wise to give yourself as much time as possible to sell it. However peak selling seasons vary in different areas of the country, and Denison is no exception, and weather has a lot to do with an area’s peak season. For example, late spring and early fall are the prime listing seasons in many areas because houses tend to show better in those months than they do in the heat of summer. Having said that, houses sell in every season in areas where there is a demand. By demand, I mean a significant number of prospective buyers moving to the area for a variety of reasons. |
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