“Home Improvements don’t Always Equate to Value”

“Home Improvements don’t Always Equate to Value”

 

 

I have received the appraisal report and I am confused.  I have finished all work on the house (especially the listed things as the appraiser told to get those completed) and it is in better condition than it was last year.  The value is continuing to drop?

We’ve made lots of improvements, but the value went down again. 

 

Home improvements don’t always mean that the value will increase, especially in some markets. We could not get a refinance done last year but the client was convinced that based on the improvements that were made the value will have increased enough to be able to accomplish the refinance.

 

Fortunately we are close enough for the owners to take money out of pocket to have the refinance accomplished, but that is not the case for many.

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 18 commentsJoe Petrowsky • July 11 2016 10:48AM
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