Joseph Pettinella's blog

When determining a home's market value, there are major characteristics that rightly command most of the attention; things such as square footage, neighborhood, and the number of bedrooms are both obvious in importance and easy to quantify. However, there are an almost innumerable amount of more subtle factors that also come into play, a fact examined in a recent study by real estate analytics company HouseCanary. They sought to determine the effect of 5 "hidden" characteristics on a home's value. These details might not always receive an obvious, or even conscious, emphasis, but they are nevertheless connected to the market value of the home. In fact, significant correlations not only exist for things like frontage length and backyard slope, but they also show distinct regional trends.

It seems reasonable to assume that most people consider trees to be a positive landscaping feature. Following that train of thought, most people would probably guess (correctly) that houses with trees sell for more money than houses without trees; however, far fewer people would be able to correctly guess the size of the price difference. Go ahead, decide on a number in your head. Ready for the answer? According to the U.S. Forest Service's Pacific Northwest Research Station, having even a single tree in front of an urban house increases that home’s sale price by an average of $7,130! Even if you don't plan on selling, that same tree can provide serious benefits in other ways as well.

Attaining a perfect credit score of 850 isn't easy; after all, that's like graduating from college with a 4.0! Luckily, all scores of 760 and above are considered to be in the best credit score range. If your credit score is in this category, then CONGRATULATIONS!  You've obviously done some things right to get it there! As a result, lenders really want your business and will therefore offer you their best products at their lowest interest rates. 

Of course, many of us aren't perfect! In that case, a good score is one that falls between 700 and 759, while a fair score is between 650 and 699. A lower score means you’ve had some dings on your credit history. The lower the score, the greater risk you are in the eyes of the lender. You will likely still qualify for a mortgage, but will probably not receive the same rate/cost structure as people with the highest scores.