The Smoke on the Water Bonfire is this Week!

 
 

The Town of Atlantic Beach’s Annual Smoke on the Water Bonfire will be held on Friday, December 30, at 6:00 p.m. on the beach at the Circle.

6:00 to 8:00 p.m.

The Circle

201 West Atlantic Blvd.

Enjoy a roaring fire and live music by Robert McDuffy. The Town will sell s’mores supplies and roasting sticks to be used at the small firepits adjacent to the bonfire.

Questions? Visit the website, contact Parks & Recreation Director Morgan Gilbert by calling 252-726-4456 or emailing events@atlanticbeach-nc.com

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How Are Appraised Value and Assessed Value Different?

 
 

You might be wondering what the assessed value of your home is, but what about the appraised value? Though you might think that these are the same, this isn’t the case.

The assessed value is more about what a community needs to collect for taxes, whereas the appraised value is an expert and more accurate valuation. Tax assessments in real estate are very different from fair market value.

We will look at the differences between the appraised and assessed home value to avoid real estate mistakes.

When buying or selling a home it is crucial to understand the differences in these valuations. Your house might not sell if you base the price on improper measures. The same can be said when you buy a home.

What is Your Home Worth?
The value of your home can be judged through a few different methods, including finding the fair market value, the assessed value and the appraisal value.

The fair market value is the amount the home should sell for if listed in current market conditions. It shows the likely amount of money you will receive when selling and gives you an idea of the price range you can look for when searching for a new home. Property taxes are based on the value as well.

What is the Assessed Value?
The assessed value provides a yearly estimation of the worth of your home. This is for the purposes of taxation and will be completed by a government tax assessor.

Maximum Real Estate Exposure has an excellent resource worth reviewing that we have included above. It's a comprehensive guide on everything to know about assessed values.

How the Tax Assessed Value Works
To determine how much you will have to pay in property taxes, your local tax authority will assess the value of your home. They use professional assessors to check the property data and possibly visit the home to find the assessed value.

There are several ways to find this valuation. The assessor will look at historical sales data, inspection reports and comparative market analysis. The appraised value might also be considered, along with any improvements that have been made recently. Through these methods, they should find a fair assessment of the value.

Assessed values for tax purposes can also vary from state to state. For example, some states will update assessments more frequently than others. The frequency of assessed values in Massachusetts could be different than in Texas or California.

An assessor can give the home a lower or higher value than an appraiser will. Assessments should never be relied upon as being your home's actual value.

Here is how to find a property's tax assessment.

What is the Appraised Value?
A professional appraiser will give their estimation of the property’s value, which should offer an accurate sales price under present market conditions.

This appraisal is their opinion of the fair market value of the home, however, another appraiser could come to a different valuation.

How the Appraisal Works
Lenders require a home appraisal to make sure the value of the home meets the amount they are loaning. The appraiser will inspect the property and check comparable home sales in the same area. With this information, they will create an appraisal report.

The features of the home, the square footage, the number of rooms and more, will be used by the appraiser to compare it to other sold homes.

The condition of the home will also factor into the comparison to comparables. The appraisal report will mention things the appraiser noticed about the home, and show the calculations used to find the value.

There are numerous things that impact home values both positively and negatively. It's essential for buyers and sellers to know these items.

A home appraisal is similar to how a real estate agent calculates market value. Real Estate agents will complete a comparative market analysis that also looks at the same factors an appraiser does.

One of the benefits of working with an exceptional Realtor is proper home pricing.

How Does an Appraisal and an Assessment Affect the Value?
The appraisal and tax assessment can make a difference to the price a home sells for. If the assessment is high, the owner will have to pay more in property taxes, something that could be a consideration for buyers.

The appraisal is important because if it is lower than the amount you have offered for a home, you might have to find the difference out of pocket. Even if the appraisal is higher than the offer, the seller could ask you to pay more.

Disputing Appraisal and Assessment Results
If the home doesn’t appraise, or if the tax assessment is high, you can dispute these findings.

Disputing a tax assessment
If you contact your local tax office, you can appeal their assessment. You will need to provide records of transactions and details of comparable home sales to prove your claim.

Disputing an appraisal
If you believe the appraisal is wrong, you can approach the appraiser with evidence of a problem. They might not listen to your claims, however.

A second appraisal can be sought, but this is a cost you will have to bear. You will have to approach your lender with this request, and they might decide the initial appraisal is good enough. Even if they approve another appraisal, there’s no guarantee that the result will go your way.

Final Thoughts
The tax-assessed value indicates the taxes that will be due, and the appraisal is a value often used when buying a home. These values will change and aren’t necessarily related to each other.

If you are buying a home, researching sold prices of recent sales or asking for a comparable market analysis from your real estate agent is vital.

Having a good understanding of house prices will help you avoid bidding more than you should on your next home.

Get more info on RisMedia.

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What Is a Gingerbread-Style House? It’s Not Quite the Holiday Confection You’re Thinking Of

 
 

An iced cottage topped with gumdrops and peppermint candies is likely your first thought when you hear someone mention a gingerbread house.

But a gingerbread-style home is also a beautiful architectural style with deep historic roots. You’ll know a gingerbread house when you spy one, notes Beverly Solomon of the eponymous design firm.

“They’re the epitome of cute—I like to refer to these homes as ‘architectural lace,'” she says.

For more on this over-the-top home style, including the history, where you’ll find them, and what it’s like to live in and maintain a gingerbread-style home, read on.

The history of gingerbread homes

Gingerbread-style homes grew in popularity during the Victorian era of architecture in this country, which spanned the late 1830s up until 1900. And it was these homes that were often decorated with delicate ornamentation common to the era’s design.

“The Victorian period in the U.S. was a time of great expansion of wealth, innovation, and an emerging middle class,” explains Solomon. “And this meant that average people wanted their homes to have those extra frills, just like their clothes, which had the same touches to indicate they were moving up in the world.”

But the gingerbread style can also trace its history to Haiti. Architects from this island nation traveled to Paris and then brought home the bold color combinations and decorative scrollwork to use on local residences and municipal buildings.

Key features of a gingerbread home

A gingerbread home isn’t its own style in the way Edwardian and Craftsman styles houses are. Instead, the hallmarks of the gingerbread style—think fancy millwork, scroll designs, steeply pitched rooflines, and lacelike cutouts and patterns—are most often seen grafted onto other architectural styles, notably Victorian-era homes.

Gingerbread houses are also known for their unusual paint shades (think teal, maroon, mustard yellow, and bright white) that were used to highlight the eaves and arches that line the rooftops, porches, and windows.

“A gingerbread-style home is truly special,” says Lacey Power, an associate broker with Premier Sotheby’s International Realty in Asheville, NC. “It’s not a standard cookie-cutter house, but one that evokes a magical emotion and whimsical flare.”

Read more on Realtor.com

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10 Tips That’ll Help Fix a Room Where Nothing Quite Goes Together

 
 

Making a room match isn’t as easy as it seems.

Scrolling through Instagram and seeing perfectly staged living rooms and bedrooms make it seem like buying the right furniture and tchotchkes will be a breeze. But, as I started to decorate my first adult apartment with non-hand-me-down items, I realized it was an impossible chess game.

The couch seemed great in the storeroom, but it completely clashed with the kitchen island. The mid-century desk was gorgeous, but it didn’t seem to go with my old-school dining room table. Whenever I bought something to counterbalance the erraticness of the room, I tipped the scale in another direction, and another corner needed fixing. It was a toxic cycle.

If you’re in the same boat,  you have come to the right place. Ahead are tips on how to fix a room that doesn’t match, straight from interior designers. 

1. Create a Cohesive Color Story

You can tie together a hodge-podge room by pulling recurring colors in the space.

“The best trick to fix a room that doesn’t match is to work backward and figure out what colors you have most of, then find either a large piece of art that incorporates these colors or a rug that has the majority of the colors within the design,” Monika Ross, founder of Monika Ross Design LLC, says. “This will make the space feel cohesive, and having a wide range of items you love in a room adds so much personality and creates an eclectic layered look”

Sara Bengur of Sara Bengur Interiors agrees with this point, and says righting a mismatched room takes layering and editing.

“Layer by adding colorful pillows, throws, lampshades, artwork, and unique accessories for the room, and the design starts evolving and becoming cohesive. It is very much like a painting; you have to keep adding color and forms to integrate the parts that do not work.” 

2. Pick Your Pillows

Have you ever felt like a room felt empty without a few throw pillows sprucing up the place? That’s because those decorative accents help to anchor a room. So if your space is feeling off-balance, invest in a few pillows that can help pull it back on even ground.

“Consider finding a ‘wow’ fabric that has all of the room’s colors as a starting point. Then, add in a few animal prints as an accent, paired with a few solid ones, too. I find that pillows, throws, and statement art seem to always make the room feel more polished,” Maggie Griffin, founder and principal designer at Maggie Griffin Design, says.

3. Rely on Your Rug

If you don’t think investing in a rug with color is right for you, another option is to get an earthy rug.

“Consider a large natural fiber rug to ground the room. And you can take it one step further by layering another on top!” Griffin says. “My favorites are vintage Dhurrie, animal hide, or antique Oushank.”

4. Have Fun With Hardware

If a piece of furniture is throwing off the space, try swapping out the hardware.

“Change your doorknobs and cabinet hardware to tie together your design aesthetic. This little change can make a huge difference to an overall look,” Jolene Embree, NCIDQ, LEED Green Associate, says.

By tweaking that one detail, you can make the furniture look more like the “theme” of the room, whether that’s boho or country.

5. Take Your Bookshelf Above and Beyond

If you’re a fan of random odds and ends and have an eclectic style, a shelving unit can help ground your mismatched theme.

“Anchor the room with a shelving unit and decorate it with all of the small things and accessories that you have collected. Arrange the display with books,” Ross explains.

Your books will act as a neutral and help tie in all of your tchotchkes.

6. Embrace Your Green Streak

If a room needs something to unify it, make “green” that common thread. “Add some plants! If you don’t have a green thumb like me, look for low maintenance plants or opt for good quality faux plants. Greenery has such a great way of bringing a home to life and making it much more cohesive,” Embree recommends.

7. Keep Your Sofa Neutral

If you’re in the market for getting a new sofa, Ross suggests investing in a neutral one. “A neutral sofa can be a stable piece you can mix with other styles of chairs, tables, rugs, and art.”

8. Give Your Space the Textured Treatment

When a room isn’t feeling pulled together, Emilie Péchadre from EP Interior Design suggests adding texture to create a cohesive link around the room. Think a fuzzy pillow on the couch with a fuzzy throw on a chair; or a velvet ottoman by the coffee table and a velvet floor cushion on the floor. Your eye will register similarities, and the space will begin to flow.

9. Play With Proportions

According to Ross, it’s quite cosmopolitan to mix styles as long as you stick to the “60/30/10” percent rule for color proportion. Your room should have 60% of a main color, 30% of a secondary color, and 10% of an accent color to feel cohesive. If your room isn’t gelling, see if you need to increase or decrease any of these colors.

10. Go to Market

Sometimes when it comes to an overly-eclectic room, there is a linchpin that makes everything feel off. If you know what it is, it might be time to admit defeat and pull it.

“If you feel like things just don’t quite flow, don’t force it! Identify the furnishings and items in the space you’re completely in love with and eliminate the rest,” Amber Guyton of Blessed Little Bungalow says. “ Sometimes cleaning the slate and starting afresh is the best solution!”

Get more tips on Apartment Therapy.

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Three housing market trends to watch in 2023

 
 

The last year has been a completely split housing market — one that started with the lowest inventory NAR has recorded dating back to 1999 and one with low mortgage rates.

In the first few months of 2022, primary-residence buyers and second-home buyers (investors and vacation buyers) flocked to the market at a frenzied pace under the correct assumption that mortgage rates would rise.

The market has now faced a contraction in existing-homes sales for nine consecutive months, while home prices and rates rise. The housing affordability crisis has pushed potential buyers to the sidelines. 

Unfortunately, the frenzied pace of the real estate market at the beginning of 2022 coupled with the affordability crisis and low inventory throughout the year means first-time buyers were left out. At the height of the spring market, the typical home had 5.5 offers, according NAR’s REALTORS® Confidence Index.

Potential buyers who may have had an FHA or VA loan were left behind as about one-quarter of the market was paying all cash for homes. First-time buyers dropped to the lowest share NAR has recorded in the Profile of Home Buyers and Sellers — just 26% of the market, compared to 34% the year before. A healthy historical market for first-time buyers should be closer to 40%.

One projection for 2023 is an easier buying market for first-time buyers. First-time buyers will need higher incomes to meet the higher interest rates (which may decline) and higher prices. However, a smaller pool of buyers means less competition and a larger chance to have an offer accepted. 

Due to the recent rise in mortgage rates, homeowners may just stay put. While this is bad news for the inventory crisis and potential buyers, it could be good news for remodeling contractors. Homeowners have gained housing equity in their homes consistently as home prices have risen. The typical owner who has owned their home a decade has $210,000 in housing equity. That equity could certainly make a move easier, but they may be unwilling to budge.

It is possible the needs of the homeowner have changed throughout their tenure in the home, and they may need to rethink how they use their home or just fix features and systems due for an upgrade. As owners think through remodeling projects, some may be done for their Joy Score, while others for cost and value recovered on projects. If a resource is needed, NAR’s Remodeling Impact report is a great place to start. 

For the last two years, in many housing markets, sellers could expect an offer quickly and above list price in many instances. For some, the idea of staging and easy remodeling fixes to sell did not need to happen to quickly obtain a buyer.

Currently, most homes are being priced competitively by REALTORS® and 24% are still selling above list price, with the typical number of days on the market at 21. However, more buyer and seller equilibrium may revitalize the need for home staging. Nearly half of REALTORS® who work with buyers say staging has an effect on buyers’ view of the home and increases the dollar value offered on the home. Four-fifths of buyers’ agents say it is easier to visualize the buyer in the future property. When attracting a buyer, why not make the product shine in the best light? 

Keep reading.

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