WELCOME TO

INVESTING IN YOUR HOME

by Judith Haney Certified Appraiser

Everyday I receive calls from home owners asking questions relative to their decisions to spend their hard earned money enhancing the value of their homes. Homeowners need knowledgeable, thoughtful, assistance when making decisions about preserving the value of their homes.

Appraisers are trained professionals who analyze market data to find trends that impact real estate values. And, real estate market trends vary with geography.

Fox example, the Huntsville, Alabama area is a high growth area because that is where the jobs are. In Huntsville, demand for real estate exceeds supply which is why the rental market in Huntsville is a good investment.

When demand for real estate is soft, the rental market is still a good investment because of foreclosures and short sales. Families have to live somewhere, and rentals are their best option in an oversupplied real estate market that is experiencing a down turn.

In Alabama, homeowners are walking away from their mortgages because their homes are no longer worth what is owed on them and because of increasing interest rates which puts their monthly mortgage payments out of their financial reach.

Alabama presents a very interesting real estate picture because of the size and configuration of the state and because there are four major metropolitan areas consisting of Mobile, Montgomery, Birmingham, and Huntsville. Also, Alabama has several thriving medium sized metro areas including Decatur, Cullman, Tuscaloosa, Jasper, Pell City, Anniston, Auburn, Dothan, Selma, and Fairhope. Each of these cities have various aspects that attract buyers and tenants.

One of the best sources of reliable information about Alabama market trends is found in a little known website at http://tbrander.wordpress.com. This information driven Internet publication offers unique analyses of various data that is essential to real estate appraisers.

When advising homeowners about investing in their real estate, the local market trends weigh heavily in my advice. It is not always a good idea to spend money enhancing a property that is located in a declining market. That is not to say that routine maintenance and upkeep is not essential to preserving value, however, it does mean that over spending on remodeling and high end updates may not bring a return on investment.

On a case by case basis, I inspect properties, then analyze available market data. Only after taking those steps can I render an opinion that would be useful to a client.

I encourage homeowners to contact me for an appraisal before investing in remodeling their homes. A small appraisal fee is good insurance against suffering a loss later on.

If you have a question about investing in your home, please email me at alavalue@hotmail.com and I will answer it in this column. 

Thank you for reading this column and I am looking forward to hearing from you.

- Judith Haney

Call toll free 1-855-252-8268

---

Valuation Services for Divorce, Bankruptcy, Tax Appeals, Estate & Probate, Insurance Settlements, FHA Mortgages

Email Judith Haney

---

Editor's Note: The title and subtitle of this book are direct quotations from my first appraisal instructor. - Judith Haney

Buy Judith Haney's new book on Amazon Proceeds from the sale of the book will be donated to the American Red Cross Disaster Relief Fund Only God Knows The Real Value Of Anything (Kindle Edition) A Real Estate Appraiser's Guide For Home Buyers & Sellers Huntsville Times article Red Cross Volunteer Judith Haney Urges Members of the Real Estate Appraisal Profession and Real Estate Community To Join Her In Donating to the American Red Cross International Response Fund for Haiti Alert: Mortgage Rescue Fraud On The Increase Buy Quality Foreclosed Homes Free Advice From A Big Talker Opinions are a dime a dozen. Appraiser's opinions are expensive! Chinese Drywall Inspections and Facts About Toxic Chinese Drywall

---