Thursday October 6, 2011
How do you measure the value of new homes in Richmond? Well, how do you measure the color blue for that matter? Can a tape measure accurately determine the depth of the color? Where can one turn to measure the depth of the color blue? At some point in a perplexing question you get the feeling you are being watched. A perplexing question can stir the soul and captivate the mind. Questions can be somewhat like what Nietzchze said “when you stare into the abyss the abyss stares back at you.” What’s the answer? How do you measure the color blue?
Answer: Blue cannot be measured with any tool we have in our garage or hardware store.
Though you may not be attempting to measure color any time soon, you may be in the need to correctly assess how to ascribe fair market value to a new home you are seeking to purchase. Boone Homes, a Richmond new home builder, is glad to help as the process to accurately measure requires you be equipped with the correct set of tools.
Understanding what tools an appraiser would be required to use would help establish criterion essential for a fair valuation. A couple of good tools to use would be the Freddie Mac form #70 or a Fannie Mae Form #1004, which is the same form appraisers must use to comply with federal regulation in the assessment of a home’s value. These forms are fairly inductive in nature; however, there are some additional guidelines that must be taken into account to fairly assess the value of the home. An exhaustive list of guidelines can be downloaded from the Freddie Mac & Fannie Mae website.
Boone Homes has been building high quality luxury homes second to none, in highly desired planned communities throughout the Richmond metro area for over 30 years. If you would like to take a tour of a luxury real estate community or need help in assessing the value of a Boone Home as compared to other homes in the area, please call Chris Parks at 804.218.7760.