So, after careful consideration of the time, expense, and energy involved in selling your own home, you have decided to go the For Sale By Owner route. You have taken care of all necessary inspections and legalities, you are ready to plant a sign on your front lawn and place an ad in the paper.

Before you take these steps to attract potential buyers, of course, you will need to know the value of your home. This will help you to finalize the proper sale price, one that accurately reflects the condition of the property and surrounding neighborhood, one that will attract buyers to make bids.

To help determine the sale price, a property appraisal agent is needed for assistance. One thing to note when your home is appraised: the resulting suggested sale price is derived from several points of interest. You might think the price of a home is determined by its age and livable condition (to be certain, those are important factors), but oftentimes an appraiser looks at more than the house. Sometimes he will look beyond the actual building.

Here are just a few factors taken into consideration when a house is appraised. Consider all of the criteria before you delve into selling.

The Overall Market – Is it a “buyer’s market” or a “seller’s market” right now? During a “buyer’s market” period, people looking for homes have the advantage. There will be many homes available, and prices will be competitive. A “seller’s market” is more advantageous, naturally, for the seller. With fewer homes on the market, a seller has more leverage to negotiate a higher price to many buyers bidding for the property.

Location – The old adage of real estate always rings true. Location, location, location! Is your home in a desirable, low-crime neighborhood? Is development booming? Are you near good schools and hospitals? Are you near the ocean, the mountains, the Interstate, or within walking distance to a busy downtown? When you look out the windows, what do you see: the beach, the desert, busy roads, or the city dump? The appraiser takes all of these into consideration to determine a fair price.

Design – With some houses, you can automatically tell when they were built. Like fashion and fads, construction styles change over time. Once upon a time split-level homes were all the rage, while in recent years you may notice subdivisions comprised of attached single-family homes. In certain neighborhoods, you will also detect a pattern, with a particular style repeated every three or so houses. An appraiser will look at the way your house looks when making a price determination. Is it a style of home that will appeal to today’s buyer? Is the color scheme attractive? Do you use vinyl siding? Will a buyer look at your house and say, “It’s perfect!”

Quality of Construction – What is the foundation of your home: brick, concrete, or wood? Are there leaks? Is the roof sturdy? Has anything been added to the building, or remodeled? When an appraiser looks at your home, he will note the sturdiness and potential of the home to determine if one should pay more for it.

Age and Overall Condition – When it comes to certain houses, age may be an advantage. In an historic district, for example, an owner of a hundred-year-old townhome may be able to attract buyers interested in vintage real estate. More so if the house has been cared for very well all this time. Regardless of the age of your home, a property inspector will note wear and tear and overall condition when making a final price. Rooms – How many rooms does your house have? How many bedrooms, bathrooms? What space is designated for living and recreation? Is there an all-purpose room? These days, people with family tend to drift toward larger houses with such space, while a couple in retirement may want something smaller. What you have to offer a potential buyer will determine for how much the house should sell.

Square Footage – How big is the house? One-story or two? Of the square footage, how much is usable, living space as opposed to space taken up in construction? These days certain people crave more space and may be willing to pay more for it. An appraiser can help determine if your house is worth that price?

Storage – Does your home have an attic, basement, or both? If yes, are they completed and do they provide livable space? Are they divided into rooms? How big is your closet space? The type of storage and amount you offer can be a factor in a high appraisal of your property.

Heating and Air – Does your home have central air or must you rely on window units to keep cool? Is your home heated by electric, gas, or oil? How your home is heated and cooled can be a factor in determining the price of your home. Will a buyer want to pay more for a home knowing he has to install AC and change out gas heat he doesn’t want? These are things to consider.

Parking – Is there a garage? One-car, two-car, attached or detached? Is there a carport? If you live in an urban area, does your home or condo come with its own parking space? This type of convenience (or inconvenience) is looked at often when appraising home values. Amenities – Do you have a pool? A Jacuzzi? Skylights and ceiling fans that convey? If you’re on the water, do you have deep-water access and a boat slip? Is your home equipped with an elevator for elderly residents, or a high-tech security system? The more luxuries are attached to a home, the more value can be given.

Financial Considerations – Have any other homes in your neighborhood sold recently? For how much? Are you in current financial straits, that you need to sell quickly? Various financial factors can play a role in a final value, so be sure to go over these items with the property appraiser.

From the inside out, no door is left unopened when your home is appraised for sale value. Before you sell, take the time to know what is to be considered before you arrive at a final sale price to offer potential buyers.

On any given day, people can easily find articles and news stories describing an impending bust of the so-called real estate bubble. Despite this gloomy prediction, many experts believe that the recent slowdown in housing will be a gradual and modest readjustment rather than sharp bust or decline. These experts believe that factors that lead to a sharp decline in the real estate market are just not present in the current economic outlook. In fact, a recent study by the Joint Center for Housing Studies at Harvard University noted that “despite the current cool-down, the long-term outlook for housing is bright.”

The rise and fall of the real estate market is subject to the forces of supply and demand, and these factors point to stable and positive growth in the real estate segment.

SUPPLY FACTORS

Limited supply of real estate makes it scarce and usually pushes home prices up. In contrast, an oversupply of real estate tends to put downward pressure on home prices. Despite the current slow down in the real estate market, factors that impact limited supply favor continued growth in the real estate market. Some of these factors include:

1. Builders have readjusted growth plans in regions that have an oversupply of new housing. Over time, any excess inventory is likely to be depleted and equilibrium achieved between supply and demand.

2. The availability of land in certain regions, as well land use regulations and associated compliance costs will continue to restrict the supply of new homes.

DEMAND FACTORS:

Housing located in regions with high demand tend to be more expensive than homes in regions with low demand. Factors that impact the demand for housing suggests a favorable long-term housing outlook. Some of these factors include:

1. No current evidence of significant and across-the-board job losses; forecasts of relatively low unemployment rates.

2. Long-term increased demand for second homes, vacation homes and senior housing by baby boomers.

3. Long-term increased demand for entry-level homes by the children of baby boomers.

4. Long-term increased demand for entry-level homes by immigrants.

5. Long-term increased demand for entry-level homes by second-generation Americans.

6. Forecasts that the outflows and inflows of the U.S. population in and out different regions will not significantly impact the overall U.S. real estate housing market.

7. Relative stability in interest rates.

8. Continued stability in long-term home appreciation rates.

9. Overall, rising rate of wealth across all age groups.

SUMMARY

In summary, strong household growth, overall rising incomes and wealth, and a stable economy all bode well for continued long-term growth in the real estate market. While the overall housing outlook is favorable, affordability will continue to be a challenge, as wages, especially in the lower income levels, have not kept up with housing costs.

If you are thinking of buying Florida real estate for any of the above reasons then you should consider what more Americans than ever are doing – buying property in Costa Rica.

Florida real estate in terms of cost is 70 – 80% more expensive than Costa Rica and Costa Rica has many other advantages that Florida real estate simply cannot compete with here are just a few.

For investment

Costa Rica offers properties at 70 – 80% less than the cost of Florida real estate for an equivalent home. But it gets better, with an average price increase of 300% in the last 10 years, buying in Costa Rica offers great capital growth potential way in excess of Florida real estate.

Consider that the above is just average and many investors have doubled their investment in just a few years!

Florida real estate in terms of growth rates simply cannot compete and if you buy in Costa Rica don’t worry, you get the same rights as residents, so your investment is secure and a number of tax incentives are available.

For living and retiring

Many Americans fed, up with high crime, inflation and the fast pace of life and are taking advantage of Costa Rica.

Houses are cheaper and so to are living expenses, which are up to 70% less than in the US.

Consider the fact that you can get a full time maid for $150.00 a month and done out on $10 and you can see your money simply goes further. You have all the amenities of the US and are still only three hours from home!

Many who have thought About buying Florida real estate have changed there mind and moved to Costa Rica, especially people retiring, they get more for their money, in one of the most beautiful and relaxed places to live in the world.

For a holiday home

We have already seen many of the advantages of Costa Rica for living and investment, so why not combine the two by buying a holiday home here rather than buying over priced Florida real estate.

Consider these advantages:

You can buy real estate as an asset and you can use it whenever you wish.

With growth rates on property values of over 300% in just ten years and it sure beats boring mutual funds!

The major advantage of course is, you can enjoy it whenever you wish – to relax and when your not their you can rent it out and take advantage of soaring rentals and demand.

You can therefore get an appreciating asset, extra rental income and enjoy your asset as well.

The fact is Florida real estate is expensive and is unlikely to rise any where near as fast as the Costa Rican property market.

Get a home in paradise at an affordable cost

If you are looking for an investment home, looking to move, retire or finally, buy a second home in Costa Rica you get more for your money and you get much more variety than if you bought Florida real estate.

Leisure facilities are limited in Florida, however, but in Costa Rica you have it all – stunning beaches, volcanoes, rainforest white water rafting, rolling hills mountains, great nightlife and much more.

If you are thinking of buying Florida real estate, consider Costa Rica first and you may be glad you did – an affordable paradise just a few hours flight from the US could be yours!