Welcome to the YourLocalRealEstateGuy.com Blog

2018-06-22 15:33:53
3 Things that can Negatively Impact your Home

Things that impact a home’s value are a bit of a mystery to those not employed in the real estate or finance industry. Sure, some of them are obvious, such as the positive impact of living within a strong school district.

Others, though, aren’t quite so obvious. Let’s take a look at some negative events and conditions that can impact your home’s value.

 

  1. The Economy

It took the confluence of several events to create the perfect storm in the real estate market when the bubble burst. When all was said and done, homeowners in the U.S. lost over half the equity in their homes.

There really is no way to protect your equity if another bubble comes along. Thankfully, there’s no sign of one on the horizon.

  1. Underwater Homeowners

Speaking of the housing market crisis, the word “foreclosure” became one we all too often heard. It seemed that almost every block in every neighborhood had a foreclosed home.

A foreclosure on your street will bring down your home value. If that home is located within 250 feet of yours you will lose, on average, one percent of your home’s value, according to an MIT study.

Here again is a circumstance that you can’t prevent. Being patient until the market corrects is your best bet.

  1. Lousy Neighbors

Your worst nightmare, in more ways than one, is to have a registered sex offender move into the neighborhood. When this happens, homes nearby experience a 9 percent in value and spend an extra 10 days on the market compared to homes nearby without such a resident.

Even a neighbor who is merely guilty of allowing his landscaping to become overgrown can impact your home’s value by up to 10 percent, according to the president of the Appraisal Institute, Joe Magdziarz.

While it may seem like there are more negative impacts to home values than positive, you might be surprised to learn that isn’t necessarily true. Next time we’ll take a look at some of those surprising conditions that have a positive impact on home values.

 
Blog Archive
2019-03-15 19:38:43
3 Strategies to Getting your House Sold Quickly

2019-03-08 10:21:14
The Dangers In Over-Improving a Home and How to Avoid Them

2019-03-01 14:04:12
Expired Without Selling Your Home? Get My Free Book So It Does Not Happen Again....

2019-02-22 11:16:46
Expired Without Selling Your Home? Get My Free Book So It Does Not Happen Again....

2019-02-15 07:11:23
Free Book- My Proven System For Selling Homes Fast For Top Dollar

2019-02-09 13:00:25
2 Aspects of the Purchase Agreement every Seller Should Understand

2019-02-02 06:47:03
Selling the Home Yourself: Is it a Good Idea?

2019-01-26 08:25:40
Why is my Home Not Selling?

2019-01-19 10:35:37
3 Important Tips for Selling a Vacant Home

2019-01-12 11:16:44
Selling in Winter? Make your Home the Hottest on the Market

2019-01-04 11:59:01
The Brag Book

2018-12-29 09:24:16
3 Tips for Attending Open Houses

2018-12-15 10:19:49
3 Renovations that Will NOT Increase your Value

2018-12-08 09:48:33
What is PMI and how do I get rid of it?

2018-11-30 12:53:07
The Danger of Overpricing your Home

2018-11-23 14:25:39
You can Get a Loan for a Fixer Upper

2018-11-21 15:38:00
INVESTORS - Find Out How To Make 30-60% Per Year On Real Estate...

2018-11-16 12:50:18
The Anatomy of a Mortgage Payment

2018-11-09 09:47:53
Using the Psychology of Color to Stage Your Home

2018-11-02 09:44:27
What is the Earnest Money Deposit

2018-10-26 08:39:58
3 Common Home Buying Myths

2018-10-20 08:19:17
The Dangers In Over-Improving a Home and How to Avoid Them

2018-10-12 08:16:02
The Pet Predicament

2018-10-05 08:51:39
Three Critical Steps in the Home Appraisal

2018-09-29 07:57:07
Top Ten Ways to Scare Away Buyers

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.