Tag: Carrie Summers

Why Zillow Home Values Should Not Be TrustedWhy Zillow Home Values Should Not Be Trusted

One of the most common questions I get is, “how accurate are Zillow home value estimates?”

The majority of the time, these Zillow home values a.k.a. “Zestimates” are NOT accurate. Zestimates are created by an automated system that cannot think for itself, or account for variations or unique characteristics that can alter the price.

One of the factors impacting the Zillow Zestimate is the property’s assessed value from tax records. Rarely does assessed home value have a correlation to market value. Assessed values are used by the county to collect taxes.

Another data point that Zillow uses is the most recent selling price of a property. The market is changing so quickly and a sale price that is years old is no way to estimate the current value of a home.

Zillow estimates the values of over 100 million homes across the country. It would be impossible for them to predict the value of each home accurately. Zillow does not enter properties but relies on their system instead. They have no idea that you spent $50,000 renovating your kitchen and bathrooms. Zillow also doesn’t know if you have a $20,000 structural crack in your foundation, or if your roof needs replacement. They also have not idea if your home is in a desirable area.

Zillow can be a useful tool, but it does not provide adequate accuracy on home prices to be used exclusively.  Want to know the accurate market value of your home? Call Carrie Summers with Colorado Ranch & Home Realty 970-759-2540.

Thinking of Selling? Staging your home is crucial!Thinking of Selling? Staging your home is crucial!

Thinking of selling?  Staging your home to look it’s best, can get you top dollar!

Home staging is decorating with purpose to highlight your home’s best assets and help buyers imagine themselves moving in and living there.

De-personalize the space

The biggest objective of home staging is to help the prospective buyers visualize the space as their own. Start by removing any personal photos, making sure to take down things hanging on your fridge as well as framed photos on walls and surfaces. Most of the closets need to be ½ empty.

Get rid of clutter

Clutter takes up space, and space is what sells. Make your home look bigger and more desirable by getting down to just the basics. You don’t have to permanently remove things, but you should pack them up and get them out of the house. This includes un-seasonal clothes, most of your decor, papers, games, and anything else that you don’t use on a daily basis. Buyers will be opening your closest to look at their storage potential, so take your time there, removing as many miscellaneous items as you can.

Clean!

A clean home suggests to buyers that the current owners took good care of the property. Clean everything from the baseboards, to the corners of your ceilings, and everything in between. Clean the inside of your refrigerator, and make sure you dust your blinds.

Patch and repair

Take a magic eraser to any scuffs on the walls. Keep an eye out for areas that could use a little TLC, then spackle and caulk as necessary. You might need to do paint touch ups too.

Let in that light!

Brighten up by letting as much light shine in the house as possible. Open the blinks on all of the windows, which will also make the rooms seem bigger.

Freshen Up

A few potted plants can do wonders on making your home feel inviting. Space plants out strategically so they don’t overwhelm any one area. Another way to freshen up your home is to get rid of odors. Pets, kids, last night’s dinner, a damp bathroom, and many other conditions can make your home smell. An easy way to remove a home of odors is to bake cinnamon-coated apples, or cookies in the oven, or burning vanilla-scented candles. It’s best to avoid air fresheners as they can trigger allergic reactions and asthma in sensitive people. Lastly, don’t forget to take out the trash!  In the summer, crack a window for fresh air!

 

We are here to help make the selling process effortless!  MancosHomes.com

Tax Tips for Homeowners!Tax Tips for Homeowners!

Hi!  Working on your taxes?  Here’s some great tips for homeowners.

You can get some federal tax breaks for owning a home IF itemizing deductions on your 2021 tax return.
But that’s a bigger “if” than it used to be.
Although tax deductions for homeowners can add up to thousands of dollars, claiming them is worth the trouble only if all your itemized deductions exceed the IRS standard deduction.
The standard deduction for the 2021 tax year is:
  • $25,100 for married couples filing jointly
  • $12,550 for single filers 
  • $18,800 for heads of households
So what’s deductible?
1. Mortgage Interest
2. Home Office Expenses
3. Mortgage Insurance
4. Property Taxes
5. Home Improvements that are medically necessary: ramps, larger doorways, and handrails.
If you have questions, I am here to help and have several great CPA’s to assist you!