Q: We’re getting our house ready to sell. One concern we have is the furnace. It’s about 17 years old, but still working fine. Is its age going to be an issue when selling? We don’t want to spend $8,000 to $10,000 for a new furnace just to sell our house. What should we do?

A: What I recommend to my sellers when I am listing their homes that have older furnaces is to have a licensed heating contractor come in to clean and check the furnace before listing it for sale. If the furnace passes inspection, you will receive an invoice with inspection results that include showing that the CO2 level (carbon monoxide) was good. I then get a copy of that report. After an offer has been accepted but before the home inspection is done by the buyer, I provide a copy of the inspection report to the buyer’s agent so the furnace does not become an inspection issue. If your furnace does not pass inspection, then it should be repaired or replaced prior to listing it for sale. Like any other home appliance, your furnace could last a week or another 10 years. Even if you are reading this column and not thinking about selling your home, it’s still a good idea to have your furnace checked out for your own safety and health.

Q: Can you tell me how to calculate the acreage of my lot? I cannot remember how to do it.

A: This is a question that comes up occasionally. One acre equals 43,560 square feet. To find out the square footage of your lot, multiply width by depth. Let’s say your lot is a rectangle and is 70 feet wide by 130 feet deep. Multiply 70 X 130 = 9,100. Next, divide 9,100 square feet by 43,560 square feet and you get 0.2089072 or approximately 0.21 acres. Your lot is relatively easy to figure out because the front and back and both sides are equal lengths. If you have an irregularly shaped lot, then the calculation gets a little more difficult. I hope this helps you and anyone else who was wondering how to calculate acreage.

Market update

November’s market update for Macomb County and Oakland County’s housing market (house and condo sales) is as follows: In Macomb County, the average sales price was up by almost 8% and Oakland County’s average sales price was up by more than 7%. Macomb County’s on-market inventory was down by 3% and Oakland County’s on-market inventory was down by almost 14%. Macomb County’s average days on market was 34 days and Oakland County’s average days on market was 30 days. Closed sales in Macomb County were down by more than 11% and closed sales in Oakland County were down by almost 1%. The closed sales continue to be down as a direct result of the continued low inventory. Demand remains high. (All comparisons are month to month, year to year.)

By the long-standing historical definition from the National Association of Realtors, which has been in existence since 1908, a buyer’s market is when there is a seven-month supply or more of inventory on the market. A balanced market between buyers and sellers is when there is a six-month supply of inventory. A seller’s market is when there is a five-month or less supply of inventory. Inventory has continued to stay low. In November, the state of Michigan’s inventory was at 2.4 months of supply. Macomb County’s inventory was at 2.1 months of supply and Oakland County’s inventory was at 2 months of supply. By definition, it’s still not close to a buyer’s market.

Steve Meyers is a real estate agent/Realtor at RE/MAX First with seven offices serving Southeast Michigan and is a member of the RE/MAX Hall of Fame. He can be contacted with questions at 586-997-5480 or Steve@MeyersRealtor.com You also can visit his website at AnswersToRealEstateQuestions.com.