Re-Thinking Real Estate

RETHINKING REAL ESTATE AS INVESTMENTS, SHOULD YOU BE SELLING?

COMPARATIVE MARKET ANALYSIS VERSUS AN APPRAISAL:

What a “comparative market analysis” means is that a standard method of judging property values is based upon the common number between three like properties. Taking location, property size, and condition, we then estimate what the market could bear. We do this all the time with many properties, it is typical, it is timely, and can take current market conditions into consideration. It is a quick thumbnail estimate. 

An “appraisal” is a formal document that requires state certification and is extensive in its approach. Loaded with details, it is well worth the money should there be a probate award or inheritance at stake. They are also required for real estate loans by commercial lenders.

Some elders believe that if they sell, they have to move. Not so, you can remain where you are with a simple contract addendum stating you will remain until death. You would continue to live where you are for as long as you choose, until death as it is sometimes stated, but as a renter with no further concerns about maintenance or taxes. One of the most famous instances of this was when Hugh Hefner sold the Playboy Mansion but remained on the premises. He continued to live on the property although it had new owners.

There is the new deep sea fiber optic cable that will be constructed from Singapore to Eureka, CA and will bring in many more jobs and greater demand for housing. Also, the nearby small City of Arcata, has new status as the home of a newly designated CAL POLY Humboldt.

Philip Howard, owner/ broker of Village Real Estate and Peggy Molloy, sales agent of Village Real Estate and writer, are both strong believers in the axiom “Public Service is the Best PR”. It is their hope to offer some comfort and good information to those living within our shifting real estate landscape, full of rocky and changing decision-making. Their licenses permit them to buy and sell commercial, residential, and industrial properties, and services for those interested in buying or selling a business.

The Multiple Listing Service (MLS) is allowed for agent/ broker access to locate detailed information about Humboldt properties as they move through the market being bought and sold. To join, one must be a licensed professional having taken the required exams on a state wide level. Also, MLS agents have had their backgrounds thoroughly checked out, which can help with avoiding fraud or crimes including selling the same property to different buyers at the same time.

Village Real Estate, having served the Humboldt community for over 25 years, offers social media marketing, comparative marketing analysis, & placement on the MLS. 

Contact: Mobile (707) 298-8813, Residence (707) 822-4780 Email inquiries: [email protected] and/or [email protected]