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About Appraisals >A Market Analysis
Setting the right price is an important first step in the process of selling a home. Is it necessary to spend $200 to $400 for a professional appraisal of your property before placing your home on the market?
A professional appraiser's opinion of a property's market value is based on the recent sales of similar homes in the neighborhood, and on the square footage and condition of the property. Different appraisers might come up with different figures. Even if all of them agreed on a value, there is no guarantee that you would receive that amount for your property.
An alternative to a professional appraisal is to ask a professional real estate agent for a written market analysis of your property. This analysis will include information about recent home sales in your neighborhood, as well as how those homes compare to yours. Real estate agents may provide this service with no charge or obligation. If you are still unsure of the value of your home, you may wish to pay for an appraisal.
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What is the maximum interest you can deduct on your federal tax return to purchase or improve a first or second home?
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One of the greatest benefits of home ownership is the federal tax deduction for interest up to, but not exceeding, $1million. |
See More Real Estate Trivia > |
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Lenore “Lee” Robinson RE/MAX Village Square 516 Valley Road Upper Montclair, NJ 07043 Cellular: 973-222-4041 Office: 973-509-2222, Ext. 105 Fax: 973-509-7779 lenorerobinson@NUMBER1EXPERT.com leerobin12@aol.com
I have been an intricate part of the real estate landscape in Montclair and the surrounding towns since 1987. I pride myself on efficiently guiding home buyers and sellers to a seamless completion of their transaction. I have chaired many real estate boards within our local board of Realtors and I am currently the chairman of the grievance committee. I have received the New Jersey Association of Realtors Circle of Excellence Award for 22 consecutive years. I have been a member of the Junior League of Montclair-Newark, since 1965. Recently, I was a featured Realtor on HGTV's "Bought and Sold". I have resided in Montclair since 1964, where I raised my four children.

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