Home Buying A Remodeling Project (or Two) will NOT Increase Your Home’s Value. Here’s the Proof.   The best reference I know (short of an actual bid from a local contractor) for remodeling cost and how it affects the value is Home Remodeling magazine's bi-annual issue on the subject, available free here. It defines every remodeling job.  For example a mid-range bathroom remodel is described as: "Update an existing 5-by-7-foot bathroom. […]
Home Buying What is a “Short Sale”? An REO?   A Short Sale is home for sale as a result of two conditions: 1) the seller is unable to continue making the mortgage payments, and 2) the home will sell for less than the amount due on the mortgage(s) (so the sale proceeds will be "short" of paying the mortgage). When a home is […]
Home Buying Who Pays The 3.8% Tax on Investment Income? Not Very Many of Us   I think I wrote my first post on the confusion around this new tax two years ago and there still seems to be a lot of misunderstanding/misinformation about it.  The National Association of Realtors has "Top Ten Things You Need to Know About the 3.8% Tax".  Click here For specific tax advice for your […]
Home Buying When Searching for Homes, all Real Estate Web Sites are the Same, Right? Wrong!   If you want to see ALL the homes that meet your search criteria, you're much better off searching on www.DaveSuttonHomes.com (which uses the Windermere search engine) than either Zillow or Trulia, and probably any of the other real estate "syndicator" sites that accumulate listings from a wide variety of sources.  In Portland, only 80% […]
Home Selling Six Factors OUTSIDE a Home that Affect Value – We all look at the INSIDE of a home when we think about what affects value, and that's rightly so.  But it's easy to overlook the important neighborhood factors that also have a significant impact on a home's value. Schools and their quality Public transit access Walk Score* Front Porch Low maintenance exterior Parks and/or […]
Home Buying Would You Rather Spend $400 or $12,000? Why You Need a Home Inspection Another agent in my office recently listed a Portland house which the seller (Let's call her Mary) had purchased without a home inspection (or Realtor representation).   The buyer (Let's call him John) did buy a home inspection, which discovered mold, faulty wiring and hazardous attic insulation, among other things, all of which will cost Mary […]
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