Jack's New Hampshire Real Estate Blog

Monday Mail Bag – February 15, 2016 – Real Estate, Appraisal & Financial Q & A
February 15th, 2016 2:20 PM

Tax abatements, Obtaining a Divorce Appraisal, "Does recessed lighting add value" and should I wait until spring to sell"?

Home seller:   Should I wait until spring to sell my house"   (note: this person is located in Greater Manchester, NH)

Jack:  If your house is prepared to sell (cleaned, repaired, de-cluttered etc) I would NOT wait to sell.  There is currently a shortage of houses on the market in many sectors.  There are a reasonable amount of buyers out looking. Certainly more buyers will join the market in the spring, but along with many more listings (houses on the market).  Inventory is low, so you many be able to take advantage of a window of opportunity.   (Note: Before listing your house, you want to see what the inventory/competition is for your market as each market is different).


Homeowner going through divorce:   Do we each have to get our own appraisal?

Jack: There is no rule that says anyone needs to get an appraisal, however if you are contesting the value each side certainly ought to get one to protect their interest and make sure they have the most updated information with regards to the market value of the house. I have done many “joint” client appraisals in which the divorcing couple hires me together as an independent appraiser. In an amicable situation, I think that is a great idea. Just beware, that if you don’t like the results, your spouse can submit the appraisal into court as evidence.


Homeowner: Does recessed lighting, crown molding etc add value to a house? How much?.

Jack: While it is very difficult to nail down the precise difference in value attributed to one features (lets say recessed lighting versus traditional), it does go toward the overall quality of the house. It is the goal of the appraiser to compare houses of similar quality, which means your house would be compared to a better grade of house than houses that do not have similar quality features. When evaluation quality, SOME of the characteristics are; exterior ornamentation, interior refinements/detail and quality, ceiling height, quality of finish materials, efficiency of systems (heat, electrical etc) and much more.   While one item by itself may not change the value by itself, it does go to the overall quality of the house.


Property taxpayer: When is the deadline for to appeal my property taxes?

Jack: The deadline for all New Hampshire municipalities is March 1, 2016 for appealing your 2015 taxes. The date is a “hard date” and will not be extended. The municipality has until July 1, 2016 to either grant or deny your request. If they do not act on it, is automatically considered “denied”. Similar to presidential “desk veto”.   If your abatement application is denied, you can appeal it to either the State of New Hampshire Board of Land and Tax Appeals (BTLA) or the New Hampshire Superior Court. The following is a link to the New Hampshire tax abatement form.

http://www.nh.gov/btla/forms/documents/2015abatement.pdf


If you have any questions on real estate, appraisal or finance questions don’t hesitate to contact me at (603) 644-1000 or email me at: jacklavoie@comcast.net.   Check out my website at www.AppraiserNH.com


Posted by Jack Lavoie on February 15th, 2016 2:20 PMPost a Comment

Subscribe to this blog

Archives:

My Favorite Blogs:

Sites That Link to This Blog: