Wausau, Wisconsin

Home Buyers, Home Tips, Inspection, Wausau, Wisconsin

Inspection Vs Appraisal – What’s the Difference?


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Inspections and Appraisals

A common question many buyers have when looking for their first home or fourteenth home is what is the difference between an inspection and an appraisal. The answer is pretty simple, yet it’s easy to get the two confused. Here’s a quick summary of the purpose of both the inspection and appraisal.

Inspection

An inspection is conducted by a state-licensed inspector, who typically spends 2 – 5 hours observing the condition of a home and formalizes the results in an inspection report. An inspection often includes a thorough analysis of the home’s condition including cosmetic blemishes and sub-surface concerns. This may include highlighting plumbing, electrical, foundation, roof, mold, and other overlooked concerns to the buyers attention. Although most inspectors are not specialized contractors, they often can identify when a concern should be further assessed by a specialized contractor, or if it is simply a cosmetic concern.

It is common for an inspector to conduct the entire inspection and then invite the buyers to the last 30-minute summary to review the findings. After reviewing the results, the inspector formalizes the information into a report that can be as short as a 1-5 pages or a short book of 50-60 pages.

The older the home is, likely, the longer the inspection report will be. As a buyer, it’s important to understand the inspector’s goal is to help educate you on the condition of the home, but not everything in the inspection report may require remediation. Talk the inspection report over with your Realtor to come up with the best strategy.

Appraisal

On the other hand, an appraisal is a third-party assessment of the home’s value. In most situations we hear the word ‘appraisal’ from our lenders / banks as it’s often a requirement for obtaining a loan. This assessment is conducted by an appraiser, who is an independent, state-specific licensed contractor.

An appraiser’s role is to determine a value evaluation of the home based on the home’s condition and comparing that to recently sold homes and currently available homes in the area. From here, the appraiser proposes a value and supporting summary of their findings in an appraisal report.

From a lender’s perspective, a third-party appraisal ensures they are making a solid loan on a home that is worth what the buyers are paying. In the event of a foreclosure, the lender can recover the amount of money loaned against the property.

From a buyer’s perspective, an appraisal gives them another value to validate the purchase price of the home. Although it does provide some information about the condition of the home, an appraisal is not often used to determine the condition details of a home. Similar to a comparative market analysis, an appraisal value can change over the years, as much of the data supporting the home’s value is based on variable market conditions.

Summary

Overall, both the inspection and appraisal are helpful in a real estate transaction. Although the nature of each home sale or purchase is vastly different, it’s best to partner with an experienced, local agent who can help you navigate each of the steps along the way.

This article was brought to you by:

Austin Solomon, Coldwell Banker Action (715) 212-4693
Schofield, WI
October 25, 2018

Coldwell Banker Action, Wausau, Wisconsin

Coldwell Banker – 30 Under 30 Award


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COLDWELL BANKER ACTION’S, SALES ASSOCIATE,
AUSTIN SOLOMON IS NAMED ONE OF TOP YOUNG
REAL ESTATE PROFESSIONALS IN THE WORLD

(SCHOFIELD, WI, September 2018 ) – Coldwell Banker Real Estate LLC has announced that Austin Solomon, 2017 Top Sales Agent, from Coldwell Banker Action in Schofield, WI was named to the Coldwell Banker 30 Under 30 list for the second consecutive year. This prestigious list encompasses the top young real estate professionals among the nearly 88,000 Coldwell Banker professionals working in 49 countries around the world.

Solomon, 21, was honored for completing 117 transactions in 2017 and bringing
in more than $16.6 million in home sales volume. His passion for real estate and
outpouring of client satisfaction earned him national recognition as he received
the 2017 International President’s Premier Award and 2017 Salesperson of the Year
Award. His use of the industry’s top technology resources, paired with his growth
mindset and development through Coldwell Banker’s training have equipped him
with the skills to provide the best real estate service in Central Wisconsin.
Solomon’s journey began when he started a lawn care business at the age of 15.
He quickly grew the business during high school and into his college years. After
his first semester of college, Solomon decided to start a new venture as a
Realtor. Today, nearly three years later, Solomon is one of the top Realtors in
Central Wisconsin. Solomon is thankful to be a part of a great community and
have a great support system around him.

The Coldwell Banker organization will honor Austin Solomon at their
international Generation Blue Experience in Las Vegas, Nevada from Oct. 2019.
“Austin has brought such passion and commitment to Coldwell Banker Action
since joining the company in 2016,” said Rob Rybarczyk, President of Coldwell
Banker Action. “He has played an instrumental role in the success of our
company. We can’t think of anyone more deserving of this award in the
Central Wisconsin community.”

“It’s incredible to see how many talented professionals represent Coldwell
Banker today, and the 30 young professionals being honored here are no
exception,” said Charlie Young, president and chief executive officer of
Coldwell Banker Real Estate LLC. “These honorees are paving the way for the
future of the real estate industry with their commitment and passion to deliver
impressive results for their communities. Their entrepreneurial spirits have
encouraged forward thinking and significant achievements for long-term success.”

Article shared from the Wausau Chamber of Commerce website – https://www.wausauchamber.com/news/details/30-under-30-austin-solomon-09-21-2018

Homes for Sale, Waterfront, Wausau, Wisconsin

Price Reduced – 3385 Horseshoe Spring Rd! Waterfront Home only $209,900!


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3385 Horseshoe Spring Rd Wausau, WI 54403 | Originally $234,900, now $209,900!

Amazing waterfront home with boat access to Jim Moore Creek across the road, leading to the WI River. Stunning landscaping, mature trees, and deck area seated on 1.64 acres. The home features an updated kitchen with new laminate counters, updated flooring and new stainless appliances, a spacious living room / den with wood burning fireplace, main level master suite with bath & walk-in closet, and main level laundry. The A/C, furnace, water heater, and roof have all been replaced within the last 5 years.

This property includes the water frontage area across the street, please see the map (in documents) for additional information. The home also features mahogany trim throughout the living room and dining room area. The upstairs features a spacious hall leading to 3 large bedrooms, each with stunning natural views, an upper level full bath with dual vanity, and a walk-in attic / storage space. The lower level offers additional storage and provides potential for a future game room / rec room with a bar area, perfect for entertaining. The walls have been started and are awaiting your finishing touches. Overall, this home combines functionality with charm and character, and offers breathtaking views with the stunning water frontage and surrounding woods, offering a private, country feel just outside of the city.

Want to learn more, now you can – https://www.coldwellbanker.com/property/3385-Horseshoe-Spring-Rd-Wausau-WI-54403/76317818/detail 

Contact Austin Solomon today (715) 212-4693 | Listed by Coldwell Banker Action.

Homes for Sale, Wausau, Wisconsin

Just Listed – 618 Bertha Street


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618 Bertha Street | Wausau, WI 54403 | $124,900

Charming home in Southeast neighborhood. Updates include newer roof, windows, vinyl siding, concrete driveway w / new sidewalk & steps. Inside offers modern living w/ oak kitchen cabinets, slow stop drawers, tile backsplash, laminate counters, included appliances, semi-open glass staircase, living room w/ crown molding, historic archways, main level bedroom, upper level bedrooms w/ hardwood flooring, updated 100 AMP elec. panel, 6-panel oak doors, modern fixtures, and backyard oasis w/ patio & pergola.

Additional values include the bathroom w/ laminate flooring and updated shower w/ tile surround, lower level unfinished half bath, clean lower level storage space w/ middle aged furnace/A/C unit, detached 1-car garage w/ updated electrical work complete and
new lighting added and partially fenced yard (2 sides) for added privacy. The seller believes there is hardwood flooring in the dining / living room areas. Plus enjoy the convenience of Wausau’s Southeast side exceptional location nearby the Wisconsin River, Memorial Park, Wausau Downtown Airport, retail & restaurants in Downtown Wausau and more!

View More – https://www.coldwellbanker.com/property/618-Bertha-St-Wausau-WI-54403/76314890/detail

Contact Austin Solomon (715) 212-4693 | Listed by Coldwell Banker Action.

 

Land / Development, Rib Mountain, Wausau, Wisconsin

Exceptional Development / Building Opportunity


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Contact Austin Solomon today (715) 212-4693 | Listed by Coldwell Banker Action

7700 Laurel Road, Wausau – 120 Acres! Great development opportunity in the growing area of Rib Mountain. The property offers a unique opportunity to develop multiple lots that adjoin Nine Mile Recreational Park. 6,625 ft. perimeter that adjoins Nine Mile. 120 acres at the end of a dead end road w / combination of open areas, wooded forests, w / some gravel trails throughout. Desirable location nearby the conveniences of Rib Mountain retail & restaurants, Rib Mountain State Park, South Mountain Elementary (Wausau West School District) and more!

The parcel could be used as hunting / recreational land with a combination of mixed terrain and a variety of wildlife throughout. Land includes a combination zoning including undeveloped, productive forest and other.