Oct. 31, 2007 - Who Knows The Value of a Property?

real estate,buy,sell,house,home,realtor,agent,san antonio,market,relocating

Who Knows The Value Of A Property . . . Appraiser or Seller?

Having a real estate appraisal background, we can relate to the above topic very well. The typical approach used by the appraiser to complete the job for the client in a professional manner is utilizing the Market Data Approach.

Choosing comparable properties from the immediate neighborhood gives the appraiser the strongest support for a sales price for the subject property provided there is sufficient similarity in the type of structure, construction material and square footage.

A buyer will have his own idea of what the property is worth to him and, if an appraisal is available for his review, might consider the appraised value as a gauge as to where he will start his offer. The appraised value reached by the appraiser might not be the sales price reached by the seller and buyer.

Once the offer is made, the seller has a starting point for negotiations over various points of the offer but especially the offered amount which may end up above or below the appraised value. In today's market, appraisals generally are done after negotiations are concluded at the request ot the buyer's lender. However, if lenders would accept all appraisals from all licensed appraisers (rather than only those done by appraisers who are lender staffed or lender approved), it could benefit all by having the appraisal done prior to the property ever going on the market.

Resource: Mary and Joe Skye, www.TxHomeSearch.com, E-mail: Skye@TxHomeSearch.com

Oct. 22, 2007 - Catching The Next Wave In The Corridor

The Information provided below is so important to all concerned in the San Antonio, Temple and Austin Corridor that it is being repeated on this blog to refresh and renew our efforts to move forward with the Wave Of Development.

CATCHING THE NEXT WAVE IN THE CORRIDOR

The following major recommendations for the San Antonio, Temple and Austin Corridor (the Corridor) were a result of The Corridor NanoBio Tech Summit of March 20, 2003 at Southwest Texas State University. These recommendations have been shortened somewhat for the sake of brevity.

I. Improved national priority alignment

a. Award of a Nanoscale Science and Engineering Center at UT.

b. There is an untapped opportunity in applications of nanotechnology to achieving national energy independence. The state as a whole has obvious strengths in energy and nanotech, while the Corridor can bring some value and unique assets to such an effort. Nanotech application to energy production is among the great challenges of the National Nanotechnology Initiative.

c. There are opportunities to exploit the Corridor's collective assets in Homeland Security and Preparedness that are just beginning to be tapped. Further coordination within the Corridor could yield greater opportunities.

II. Regional and state funding of these industries was found to be seriously lacking in comparison to other regions. In spite of fund shortages, it is believed that funding for this type of economic development is crucial to the economic future of the state.

III. These industries tend to be capital-intensive, particularly in the early stages of product development. It is recommended that lab and developmental space be made available to these industries, utilizing existing technology incubators in the Corridor as the means to leverage currently under-utilized capital resources with a view toward developing new resources. The primary or initial recommendation would be to make lab space available for early start-up efforts.

IV. Two key networks are recommended, one at the executive level and one at the technical working level, to facilitate inter-institution collaboration and cross pollination of the best technical thinking. Presently, there is no forum to gather the potential participants in the convergence industries for networking purposes. It is also highly desirable to build a connection between San Antonio and the statewide nanotechnology community.

V. In education, there is both a need to be met and an opportunity that needs to be taken advantage of. The need to be met is the growing requirement for more college graduates with technical backgrounds. It is recommended that the process of meeting this need start at the secondary school level, where interest in technology among students needs to be raised. The opportunity to be taken advantage of lies in the sweeping societal implications of nanotechnology and convergence. Federal funding is available for performing research in this area of interest in the schools located in the Corridor Area.

Source: UT Austin (iC2 Institute-Smithson/Adams/Stacy/Evans)/Skye

Oct. 16, 2007 - Guide For Selecting A Home Inspector

GUIDE FOR SELECTING A HOME INSPECTOR

Source: Bernie Clark License#3042, Longhorn Home Inspection, Inc. 210-654-9426/Skye

Oct. 5, 2007 - High Gasoline Prices & Oversize Garages

real estate,buy,sell,house,home,realtor,agent,san antonio,market,relocatingAttachment:

DESPITE HIGH GAS PRICES, MORE BUYERS WANT OVERSIZED GARAGES

Home buyers in increasing numbers want garages with two or more spaces in their homes. Since the last survey taken regarding this item in 2004 by the National Association of REALTORS, oversize garages saw the biggest growth in terms of what recent buyers considered very important in a home, gaining 16 percentage points to 57%. In the 2007 Profile of Buyers' Home Feature Preferences, among buyers who purchased homes without this feature, 56% of them said they would have paid more for an oversize garage, compared to only 6% in the 2004 survey.

Hardwood floors and granite countertops each gained 7 percentage points, with 28% and 23%, respectively, of buyers viewing these features as "very important". Gaining 6 percentage points was cable/satellite TV-ready, at 46%.

Energy efficiency was more important to new-home buyers than buyers of existing homes, with 65% of new-home buyers saying it was very important compared to 39% of buyers of existing homes. Older buyers placed a higher priority on energy efficiency than did younger buyers.

From 2004 to 2006, the size of the typical home purchased increased by about 100 sqf to 1,840 sqf while the median number of bedrooms dropped from four to three during the same period. The median home age reported in the current survey is 12 years, down from 15 years in 2004.

More than half of home buyers believe their home has high investment potential, and another four out of ten believe it has moderate investment potential. Only 3% felt their home's investment potential was low. Six out of ten recent home buyers took on remodeling or home improvement projects within three months of their purchase. Close to half of home buyers who remodeled or made improvements updated their kitchen, and nearly half remodeled or improved a bathroom. New homeowners spent a median of $4,350 on home improvement or remodeling projects undertaken within three months of purchase.

"The fact that a majority of home buyers quickly remodel key areas of their homes ties into the fact that their home is a good, long-term investment," said Paul Bishop, NAR manager of real estate research. "Regardless of market conditions in the short term, when purchased for the long term, housing is one of the safest investments consumers can make."

Source: NAR, Skye