Tag Archives: CDPE

Can Living Near A Walmart Increase Your Home Value?

Tuesday, 18 February 2014 14:53
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The answer is surprisingly, “yes”!   There was an interesting article on the National Association of Realtors‘ site that I thought I would share.

Marie Dinsmore, Certified Luxury Home Marketing Specialist

The Dinsmore Real Estate Team  |  www.dinsmoreteam.com

Marie@DinsmoreTeam.com | 770-712-7789

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9 Surprising Things That Add Value to Your House

By: Dona DeZube

A home’s value is dependent on many things. Here are nine factors you might not have thought about.

1. Surf Breaks: Being within a mile of a surf break (a spot where surf-able waves happen) adds about $106,000 to a home’s value, according to surfonomics experts at the Monterey Institute of International Studies.

Reality check: Mother Nature makes surf breaks, so it’s not like you could build your own DIY break to boost your home’s value.

2. Parks and Open Spaces:  A desirable public park or other recreational open space boosts the property value of nearby homes by 8%-20%.  One study looked at 16,400 home sales within 1,500 feet of 193 public parks in Portland, Ore., and found these boosts to home values:

  • Natural areas: $10,648
  • Golf courses: $8,849
  • Specialty parks: $5,657
  • Urban parks: $1,214

Reality check: A park that’s not maintained and overcrowded can drag down nearby home values.

3. Living Near a Walmart: Along with making it easier to run out for a gallon of milk at midnight, researchers at the University of Chicago concluded that living within a mile of a Walmart store could raise your home’s value by 1%-2%, and living within half a mile could boost your property value by an additional 1%.  For an average-size home, that’s an uptick of $4,000-$7,000.

Realty check: What you gain in home value, you may end up spending at Walmart.

4. Solar Photovoltaic Systems: California homes with solar photovoltaic (PV) systems sell for a $17,000 premium over homes without solar systems, according to research from the U.S. Department of Energy’s Lawrence Berkeley National Laboratory.

Reality check: Although costs for residential solar power systems are falling, they’re still rather pricey at $15,000-$40,000, depending on the size of your house.

5. Walkability: Being able to stroll to schools, parks, stores, and restaurants will raise your property value anywhere from $4,000-$34,000, says a 2009 study from CEOs for Cities.

Reality check: The biggest boost in walkability values occurred in large, dense cities.

6. Accessory Dwelling Units:  Whether it’s a granny flat, an in-law apartment, or a carriage house, having a separate unit can increase your home’s value by 25%-34%, according to a study of 14 properties with accessory dwelling units in Portland, Ore. You can also get a steady stream of income from a second unit.

Reality check: Local governments often ban accessory dwelling units, so check zoning laws, building codes, and homeowners association rules before you add a unit.

7. Professional Sports Arenas:  A new pro sports stadium can raise property values in a 2.5-mile radius by an average of $2,214. The closer you are to the new facility, the larger the increase in home value. Researchers from the University of Illinois at Urbana-Champaign and the University of Alberta examined house sales in Columbus, Ohio, before and after the city added two sports stadiums.

Reality check: If a stadium is proposed, home values can decline a bit until the project is complete. And if you live really close to a stadium, you may encounter traffic and parking issues.

8. Community Gardens:  Planting a community garden raises the value of homes within a 1,000-foot radius by 9.4% within five years, according to research by the Office of the Comptroller of the Currency and New York University School of Law.  The impact increases over time, and high-quality community gardens have the greatest positive influence. Poor neighborhoods saw the biggest gains in home values.

Reality check: Gardens on privately owned land and in higher-income neighborhoods don’t have the same beneficial influence.

9. Trees:  No real surprise here — whether trees are in your yard or just on your street, they’re a valuable asset you should be aware of. Here’s a gauge of how much trees are worth to your home value according to a University of Washington research survey:

  • Mature trees anywhere in your yard: 2%.
  • Mature trees on your street: 3%.
  • Trees in your front yard: 3%-5%.
  • Mature trees in high income neighborhoods: 10%-15%.

Reality check: Trees usually mean work — raking leaves, trimming branches, and keeping roots out of sewer lines.

Why Realtor Certification Matters: CDPE

Friday, 14 February 2014 15:28
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I’ve been a Realtor along the GA400 corridor (covering Milton, Alpharetta, Cumming, Johns Creek, Suwanee and Dawsonville) since 2002, and have helped more than 300 families buy or sell a home in the area. My experience and knowledge of this market is extensive. With over 12 years’ experience in the Real Estate Industry, I realize the importance of being able to assist my clients with not only their buying and selling needs, but also to be able to help those in need during difficult financial times avoid foreclosure.

Through years of experience, I have developed what I believe is the most effective short sale listing system available: understanding what works; how banks think; and how to get banks to forgive outstanding debt associated with short sales.

In a previous blog, I explained the importance of having the CLHMS (Certified Luxury Home Marketing Specialist) certification.    This time, I would like to explain the CDPE certification.

CDPEA Certified Distressed Property Expert® (CDPE) has a thorough understanding of complex issues in today’s turbulent real estate industry and knowledge of foreclosure avoidance options available to homeowners. CDPEs can provide solutions, specifically short sales, for homeowners facing market hardships.

Homeowners regularly proceed without guidance of any kind through the often financially and emotionally devastating prospect of foreclosure. Speaking with a well-informed, licensed real estate professional is the best course of action for a homeowner in distress. Through comprehensive training and experience, CDPEs have the tools to help homeowners find the best solutions for their unique situations and to avoid foreclosure through the efficient execution of a short sale.

So what is a short sale?

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here’s a more official definition:

  • A homeowner is “short” when the amount owed on his/her property is higher than current market value.
  • A short sale occurs when a negotiation is entered into with the homeowner’s mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then ‘sold short’ of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into all of the following circumstances:

  • Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  • Monthly Income Shortfall – A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  • Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

This seems simple enough, but it is a complicated process that takes the expertise of an experienced professional. CDPEs don’t merely assist in selling properties, they serve and help save their clients in need.

While the market has shown definite improvement in the North Atlanta area, you or someone you know may still need advice on how best to avoid foreclosure during difficult financial times.   Please contact me if you have any questions regarding the short sale process.

Marie Dinsmore, Certified Luxury Home Marketing Specialist

The Dinsmore Real Estate Team  |  www.dinsmoreteam.com

Marie@DinsmoreTeam.com | 770-712-7789770-712-7789