Profile picture for Doug Emde

Doug Emde

Premier Agent

1 Recent Sales (last 12 months)

Specialties:
Buyer's Agent,
Listing Agent,
Relocation,
Consulting

Advice

  • (22 Contributions,
  • 0 Best Answers,
  • 1 Helpful)

Contributions are sorted newest to oldest.

How are home values arrived at?

Answer

The improvements will probably add some value, but the true market value of your home is derived from comparable properties that have sold recently.  So pay close attention to the sales that have occurred in your neighborhood this year.

  (0)
The Answer to a Housing Recovery: Lower Prices

Response

Absolutely correct Jennifer.  It's the economy and until that turns around and people feel safe in their jobs we won't see a robust market.  We will see some slight gains, under 2%, but still an underperforming market.

  (0)
Sales drop 27% in July, Prices will start falling now.

Answer

A key to when prices will drop is the absorption rate which is a ratio of months supply of listings on hand.  Once that goes into double digits you will typically see some pricing adjustments.  A healthy market usually has between 6 - 9 months of inventory.  Less than that and it's a seller's market, more and it's a buyer's market.  Ask your local Realtor what the absorption rate for your market is.

  (0)
Are You Worried Zillow and Redfin Will Replace You?

Response

I believe our job is changing and will continue to evolve.  There is now too much information on the internet and our job is to provide a filter for our clients.  No need to look at 10 different sites for the same information about the same house.  That's our job to be the guide for their safari.

  (0)
how can I find out what my home is worth?

Answer

Contact your local Realtor and ask for a CMA.  Also contact your local tax assessor and see what information they have on your property.

  (0)
Urgent: Need help on a Refinance Question

Answer

I would urge you to consider switching to a 15 year note.  The rates will be significantly lower (below 4%) and you will be in better financial shape quicker if you can afford the additional payment.  Do the math and see how much more it would cost to cut your time owed in half.

  (0)
The bank gave your neighbor $50K...

Response

You might take solice in knowing that the homeowner will be surprised with a 1099 at the end of the year on which they will owe taxes on that $40,000 that they were forgiven.

  (0)