Brosnan Realty Group, Inc
Brosnan Realty Group, Inc | 617-787-2860 | kieran@BrosnanRealty.com


Posted by Brosnan Realty Group, Inc on 3/28/2021

Image by Andrey Popov from Shutterstock

The term "fair market value" is the price at which an interested but not desperate buyer is willing to buy and a motivated but not distressed seller is willing to sell on the open market in your location. The set value depends on recently sold similar-sized homes with like amenities, upgrades, and location. These are known as "comparables" or "comps" in real estate jargon.

Your best resource for learning the market value of your home is your trusted real estate professional. They have access to lists of homes like yours that sold on the open market in recent weeks and months. Of course, no one can know if your home will sell since other factors might be at work too. Changes in local industry and the job market might cause prices to move either down or up. Weather can factor in also.

What if prices drop?

Should you enter the market just as prices begin trending down, you might choose to set your price just below the fair market value. That way, you wonít be forced to lower your opening price if they keep trending downward. To stay competitive, increase the value, not the price. Professionals know ways to market your homeís exceptions such as recent upgrades, repairs, a new roof, walkability, proximity to social life and other seemingly intangible items that keep your home at the top of peopleís list.

What if prices go up?

Neither you nor your agent can accurately anticipate the market. But if prices seem to be going up, set yours near the top of the ďfairĒ values. Try not to overprice your home since doing so can have unintended consequences. Lenders and underwriters operate slightly behind the market adjustments, so when you set a too high price, your buyers may not qualify for financing.

Setting the price

Your agent can help you set the right price the first time. Trust their knowledge and expertise in the marketplace. If youíre not sure about the price, test the waters by asking your agent to keep your home as a pocket listing. That is, a listing they can tell agents and clients about that doesnít appear on the multiple listing services (MLS). That way, you can see if your pricing strategy gains any traction.




Categories: home value  


Posted by Brosnan Realty Group, Inc on 2/28/2021

Thereís no doubt that we all have our preferred colors, whether itís for our cars, our clothing, or our homes. However, there are colors that are favored over others--colors that work well in any environment.

When it comes to painting the inside and outside of your home, good colors decisions can make your home appeal to more buyers and get you higher offers.

In todayís post, weíre going to talk about which colors are ideal for your home if youíre hoping to increase its purchase value.

General rules for choosing paint colors

While there are specific colors and techniques for each room of a home, there are also general rules that apply to painting in general.

First, note that it is pleasing to the eye if a room transitions from dark to light vertically--the floor being the darkest, the wall color in the middle, and the ceiling the brightest. While we canít say with certainty why that is, a good guess would be because thatís house things usually appear in nature, with the sky being the brightest thing in your line of sight.

Next, understand that painting with darker colors and matte finishes may make a room appear darker and smaller. Glossy or semi-gloss paint with bright colors will reflect more light and make a room look and feel more spacious.

You may have noticed some homes tend to have a continuity to them that is hard to explain. Thereís a good chance this is because of the colors used. Having a color palette for your home that uses different shades of a color is a good way to tie the whole home together

Finally, while there are many colors that will work in various rooms of the home, blue happens to be the most preferred color to new buyers. Itís a safe bet that a light blue will work well if youíre at a loss for what color to paint a room.

Next, letís take a look at each part of your home to find the best colors to use.

  • Exterior. Choosing exterior colors, such as your siding, doors, and trim can be a difficult decision for most homeowners. Itís a good idea to stick with colors associate with the architectural style of your home. Also, be sure to take note of the colors in your neighborhood--you donít match your neighbors completely, but you donít want to stand out too much either. A good way to differentiate your home is to use a bold accent color on your front door or shutters.

  • Kitchen. The kitchen should be a warm and welcoming place. Colors like white, gray, and light red all work well in the kitchen. Choose a color that doesnít overshadow your appliances and cabinets--let those be the bold colors of the room.

  • Bedrooms. Bedrooms, especially childrenís rooms, are a place where you have more room to experiment with fun colors. Nearly any color can work in a bedroom, even darker colors, if complemented by light-colored decorations and furnishings. If your master bedroom has a bathroom connected to it, try using the same or a color that will complement the bedroom.

  • Home office. Offices are surprisingly versatile. Many different styles work for different people and their vocations and hobbies. If your home office has a classic look--wooden desk, gold lamps, etc.--a brown or tan color will work well. However, if the office is more modern and creative, a white, gray, or bold green or blue are fitting.

  • Bathroom. For the main bathroom, use a bright color as bathrooms tend to be one of the smaller rooms in a home. Bright colors are also easier to work in the mirror by to improve lighting.




Categories: Painting Tips   home value  




Tags