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How hard can it be to measure square footage of a house?

Square Footage Calculations can be challenging 

For a free Buyers Guide, Email  Torline at KTorline@msn.com

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Across the US, different MLS systems have different rules for reporting the square footage in a house.   Homes in Colorado Springs that are listed in the local MLS, include abovCaucasian uid 1605079e grade square footage as well as below grade square footage.   Many area in the U.S. only use the above grade square footage; consequently basement are not included in the calculations.

Square footage size continues to be one of the main measures of value comparison used by Realtors, as well as by buyers and sellers.   It can offer a quick way to evaluate and compare homes of similar size, quality and location.  
 
As an example, If two houses are priced exactly the same in the same neighborhood, but one is priced $50,000 higher than the other, buyers will often think the higher priced one is priced incorrectly.
Square footage discrepancies can cause challenges.   If the seller says a home has 2,500 square feet and a buyer purchases a home and later finds out the home only has 2100 square feet, the buyer might contemplate a lawsuit .  
Most Realtors aren’t experts at measuring a home, and there are many, many ways to measure the square footage of a home.    It is definitely not as easy as measuring each room and adding up the totals.   Different professionals can arrive at very different measurements; even the experts have different ways they do it.  

You may wonder how hard can it be measure a house. These are just a sampling of some of the issues that come up: 

  • If you have stairwells, do you include it on the main level or the upper level?
  • Do you include closet spaces?
  • What do you do with fireplaces? Read the rest of this entry »

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10 things to know about Colorado real estate

What makes Colorado real estate different?

For a free Buyers Guide, Email Kathy Torline at KTorline@msn.com

I recently took some accreditation classes in another state.  It was eye-opening for me to understand how much the laws vary from state to state.   Since a major portion of my business is from Internet leads and from people moving to Colorado Springs from other parts of the country,  these classes were very helpful.

Some other articles that could be of interest:

Did you know ?

  1. Colorado is an “actual knowledge” state, which means as Colorado Realtors we only need to disclose facts that we know and we must disclosure material facts. Some states are “imputed knowledge states”, which means Realtors are expected to know certain things.
  2. Most Realtors in Colorado list properties for sale in their local MLS and ask for 1% for Earnest Money.   Some areas in the U.S. ask closer to 10% for Earnest Money.
  3. The majority of Colorado Springs homes get listed in some type of MLS database; and many homes get listed in multiple MLS’s.    There are some major cities in the U.S. that don’t have an MLS.
  4. Colorado doesn’t have dual agency.  Many states still have dual agency.   In Colorado you can only be an agent for either the Buyer or the Seller, you can not be an agent for both. Read the rest of this entry »

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