Please remember that there can be a big disparity from an appraised value and the market value of your home. An appraiser is simply comparing the square footage, one of two story, number or garages, number of bathrooms, pool, lot size, location and materials used. The most common mistakes made when deciding on a market value of your home are the location and materials used and here is why. An appraiser doesn’t care if the home is in the middle of the subdivision or backs to a busy street, but a buyer does. To an appraiser they are just two homes in the same neighborhood. An appraiser sees recent updates with slab granite, Berber carpet, 20” tiles, and wood flooring and gives a value for it. In the appraised value the color or design of this material is irrelevant but in a market value the color and design become on of the most important decisions for buyers. Over the years, in Las Vegas and Summerlin I constantly see people that put new slab granite in a house that was very expensive but also very ugly and no buyer is willing to pay for it as they plan on replacing it immediately. This goes for all the finishing cosmetics of homes as few homes are properly colorized with neutral colors that most buyers desire even though the sellers spent a lot of money on it. Trust me on this as I once put green carpeting in a house and when I went to sell it I paid for it all over again.
If you are planning on doing upgrades to your Las Vegas or Summerlin Home then pick all neutral colors and spend the extra money on the latest design textures. To bring in all that great color use accents like paint, rugs, pictures, towels, etc. Paint is cheap to replace when you are ready to sell.
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