Divide Between Appraiser and Homeowner Perceptions

Accordingly to the Detroit-based Quicken Loans, appraiser home value opinions continues to fall below homeowner estimates.

The trend of a widening gap between appraiser and homeowner opinions continued in April, according to the Quicken Loans study of home value perceptions. The Home Price Perception Index (HPPI) showed appraiser opinions were 0.69 percent below homeowner estimates in April. The index dipped compared to March when appraiser opinions were 0.40 percent below homeowner estimates. April marks the third consecutive month of appraiser opinions falling below homeowner estimates.

It is not surprising to most appraisers that homeowners are overestimating their home’s value on a national average. There is nothing more disappointing to a homeowner than learning that the value of their home is less than they expected. This index is important for homeowners as they set reasonable expectations.

At the same time the national Home Value Index (HVI), a measure of home values based solely on appraisals, increased in April after a drop in March, gaining 0.28 percent nationally. Values also continued their strong year-over-year increases, rising 5.54 percent since April 2014 on a national level.

Even though the home values increased in April, it was not enough to cancel out March’s decline around the country. Homeowners that are still underwater are looking for large increases, but those increases can in fact price homebuyers out of the market. Home affordability could become a worry if home values increases get too far ahead of the modest pace of wage increases, which are sitting at about 2 percent annually.

For more facts go to  http://findneworleansproperties.gardnerrealtors.com/

What's Desirable in a Home Today

There are plenty of home buyers these days dreaming about a brand-new house with the outdoor kitchen, the two-story foyer, and the luxurious master bathroom, complete with a whirlpool tub. But today homebuilders across America have decided to cut out those kinds of features in favor of efficient, organized, and pragmatic ones.

Walk-in closets, laundry rooms, energy-efficient windows and appliances, and programmable thermostats are on the rise. It’s all about efficiency, both of time and resources. A working couple trying to get out of the house in the morning needs a walk-in closet in the master bedroom, they need a laundry room that’s well-lit and well-organized. That’s how they improve the efficiency of the household, find clothes, get organized, and hide the clutter.

Today's buyers are fixated on comfort and affordability. It’s part of a postrecession cultural shift toward pragmatism, and homebuilders have adjusted their creations accordingly, appealing to a segment that’s willing to forgo a two-story foyer or family room to get a better price.

Their list of most and least likely features does offer a few surprises; it’s not all about the decline of luxury. Once a high-end item, granite countertops are now the norm. Specialty spots such as media rooms or sunrooms are being replaced by spaces that are more flexible, especially additional bedrooms. And communities with jogging and walking trails, previously coveted, are now less popular than a two-car garage. Just because some features are less common doesn’t mean you can’t get your hands on a house that includes them. All you have to do is spend more money.

Hear are the features most likely to be found in new homes:

         1. Walk-in closet                             6. Energy Star windows
         2. Laundry room                              7. Ceiling 1^st floor 9’
         3. Low-emission windows                8. 2-car garage
         4. Great room                                  9. Programmable thermostat
         5. Energy Star appliances              10. Granite countertops

For more information visit http://findneworleansproperties.com/