What makes these Funds Better Investments?
Precious metals values are volatile. Approximately how long does it take to produce one ounce of platinum? That means a baseball made of platinum would be worth over $10,000. In February of 2008 platinum spiked to $2,000 an ounce! What was the highest value spike of platinum in 2008? How much ore is required to produce one ounce of platinum? Precious metals values remain constant. Precious metals prices take wild swings; in late 2007 gold surpassed a high set in 1980. This volatility means that you are indeed taking a risk when you invest in precious metals. Platinum is difficult to produce; you need over 10 tons of ore to get one ounce of platinum. Precious metals values trend gradually upward.
Reconciling the findings of the two is sometimes a value-added “fix” of its own. For example, an inspector can require replacement or repair of a gas furnace that is not sufficiently — or safely — heating a home, and installing a new unit with a warranty will likely be a big plus on the home appraisal as well. Some confuse the appraisal and the inspection, which shows that the process isn’t always explained to the seller well enough.
If you don’t want to know what your home is worth in an economically challenged housing market, you won’t like the answer to the question: “Do I have to get a home value appraisal?” Selling a house in a buyers’ market — or in a time of recession — leaves many with no option but to sell for a price below what they owe on their mortgage, or home loan. These numbers aren’t the most inspiring for those looking to sell their homes, but uncontrollable market forces are only part of the home selling picture.
Before tackling all of the projects recommended for improving your home appraisal, keep an eye on the market and know what will bring a return. If you’re looking at a loss from the onset, just maintaining a clean and working home likely will be enough without a big output of work and money. And if it’s any consolation, even in the best markets, people spend a lot of money steam-cleaning carpets, only to hear of potential buyers who want the wood floors underneath, and end up reducing the selling price to account for carpet removal.
Wait for someone to knock on the door and offer you lots of cash because they love what they see. But what happens if you don’t agree with the appraisal or the buyer’s bank doesn’t agree with your price? Let’s look at some options for increasing your home’s value or working with what isn’t working in your favor. Getting an appraisal of your own, as the seller, setting a price and awaiting confirmation of the price from a potential buyer — and the buyer’s bank — is most often the way to go.
Even if making a profit or getting much out of the equity you put in is questionable, getting the most out of a home sale requires a really good faith effort on the part of the seller. Find an appraiser to help you determine the fair market value of your home. Set a price and wait for an interested buyer to arrange a home appraisal through a lender or bank. Research and set a price through your own research. You have some control over your home appraisal, and it begins with knowing what you’re up against and who will be tallying the figures toward setting a home price.
