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Updated September 30, 2021 Table of Contents What is a square foot? Common calculation errors What’s included in a home’s square footage? How to calculate price per square foot How to calculate the average price per square foot for multiple homes How do you know which homes to compare? Where do you find the data you need? The dangers of relying on price per square foot in your home search Should I use price per square foot in my super-duper specific home search? Price per square foot is a common metric in real estate; many buyers use it to assess a home’s value. But looking at that data alone without some appropriate filtering and context won’t really help you understand whether a house is a good deal or not or how to negotiate with a seller. Consider the nuances at play when you’re searching for a home, and then do the math that makes sense for your highly specific search. For the most useful metrics, you should be thinking along the lines of: How do you calculate price ...

There are many popular home styles in the United States – contemporary, ranch, bungalow, English Tudor, Victorian, and log homes, to name a few. But no style has stood the test of time as the colonial house. With its defining symmetrical features and enduring curb appeal, the colonial-style house encompasses other architectural types, including German colonial, Dutch colonial, and Georgian colonial, among others. Take a look at the defining features of the colonial-style house and learn what makes this home style so popular today. History of the colonial-style house To locate the origin of the colonial-style house in the US, you must go back to when the Europeans first set foot on the Eastern seaboard. Arriving on the shores of Massachusetts late in the fall of 1620, the Europeans brought styles and designs from their past. During the 1600s-1700s, colonial architecture was quite common. If you’re planning a trip back East, you can see some of the original homes still standing toda...

On the never-ending list of projects you could tackle as a homeowner, exterior home improvements deserve a spot at the top. Additions like patios provide the perfect place to enjoy a morning cup of coffee, while a well-maintained lawn keeps the neighbors happy. An inviting exterior will also preserve your home’s value and make it infinitely more appealing at resale. Given the broad nature of what you can do with a home exterior, we’ve boiled down potential upgrades you could pursue into three main buckets of work: yard, curb appeal, and outdoor living — with clear and recommended improvements for each. Exterior improvements for a beautiful yard Do a basic clean-up Trim shrubs and bushes Apply mulch liberally Plant low-maintenance perennials Exterior improvements that enhance curb appeal Replace or paint the front door Add hardscaping to your entryway Install a new garage door Freshen up your siding Exterior home improvements for better outdoor living Put in a pool and...

“Appraisers have a very hard job,” says Paul Fonseca , a top-selling real estate agent in Fort Myers, Florida. They are tasked with assessing a home’s value in today’s constantly evolving housing market. According to the Appraisal Institute, residential home appraisers employ a systematic valuation process to determine an opinion of a home’s market value . Most appraisers report their findings on a standard Fannie Mae and Freddie Mac form called the Uniform Residential Appraisal Report (URAR). We’ll fill you in on what home appraisers look for when evaluating your home with insight from six industry experts. Here’s an overview of what’s ahead: Improvements: Appraisers look at your home’s structure Neighborhood: Location holds heavy sway over your home’s value Site: Appraisers consider both on-site and nearby property characteristics FHA appraisers look for these additional features Appraisals for refinances work the same as those for home sales Appraisers don’t consider move...

When people buy or sell a home, they are often curious to know the odds that the home will appraise. Although the answer depends on the situation, including whether the home was priced correctly and how fast values are rising in their area, figures from the broader market do offer some general context. Data from CoreLogic reveals that 20% of home appraisals came in lower than the sales price on transactions that occurred in 2021. However, that figure reflects a larger percentage of low appraisals than is typical for a given year as a result of the pandemic housing frenzy. In a more balanced market, it’s common for an average of 7%-11% of sales to see the appraisal come in under contract value, according to the same dataset. If your home doesn’t appraise, such an event could delay your sale, cost you money, and even  stop a deal in its tracks. According to a National Association of Realtors® July 2021 survey, appraisal issues accounted for 25% of delayed sales contracts and 13% o...