added a 3rd bathroom, new interior paint and a large deck onto the back of the 2600 sqft home. Is it worth less, more or the same, taking into consideration the current economy situation and the improvements?
Any improvements you can do to make your house stand above the crowd will definitely help. In this market more people are asking "will" my home sell, rather than "what will" my home sell for. If you are just curious to see if your improvements are paying off with no serious intention of selling your house now, then yes your improvements are benefiting. How much I dont know and will they be able to lift your home value above what it appraised for 3 years ago, again I dont know. if you are looking to sell your home, get it on the market now. An appraisal is only an opinion, your home is really only worth what a buyer is willing to pay.
Rob,
One thing to remember is that the market differs GREATLY from area to area. In some areas prices are hanging tough. So I believe the best thing to do is contact an agent in your area and ask them about the market, then have them do a CMA (competitive market analysis). That will give you an approximate idea of what your house would sell for.
Doug DeShazer
Only a certified appraiser is qualified to give you a definite current market value of your home. As a realtor, I can calculate a comparative market analysis (CMA) if you are interested in listing your house for sale. This CMA can determine a good listing price for what your house should sell in this current market. -Ginger Vanek, Eickert Realty
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