Gone are the days of the guaranteed 30-day closing. Though not impossible, in light of tighter mortgage regulation a 30-day closing is no longer the norm. Realistically you’re probably looking at 45 days from contract to close, and that’s without additional contingencies. Even with this extended contract period there are a number of things that… Read More
The article below explains Automated Value, what it is and where you’ll find it. Websites like Zillow and Homes.com provide estimates of home prices for homes that are not currently for sale. They are almost always inaccurate. The automated valuation systems that are used by these sites, fail to take several critical factors into consideration…. Read More
Agents and Appraisers Express Concern Over FHA Appraisal Policies– I’d be curious to hear what your experience has been. I am absolutely one of the people who has expressed misgivings about a recent FHA appraisal or three, including accuracy, inflexibility and the snail’s pace. I don’t exactly find any of this surprising, just disappointing and… Read More
The article below makes some valid points. It is indeed a good thing that appraisers are, by regulation, not beholden to either banks or realtors. My feeling about recent appraised home value is that appraisers are finally feeling less threatened by government regulation and more comfortable with the ‘independent’ label placed on them. ~Bill By… Read More
By Suzanne De Vita “Comps” – or recent comparable sales – give real estate practitioners and appraisers the information they need to price a home at fair-market value. Though comparable data are clear-cut to a professional, how many sellers understand the various tangibles and intangibles that form these comparisons? If the gap between seller perception… Read More
from Home Buyer’s FAQ on yourvalleyproperty.com What happens when the appraisal does not support the purchase price? Surprisingly you have more options then you might think. This is not necessarily a deal-breaker. You will have the choice of walking away, as a satisfactory appraisal is a condition of your contract. Renegotiating the price or terms… Read More
7. Only if The Price is Right. Possibly one of the most critical considerations will be your offering price. Your agent can provide not only the selling prices of similar homes in the area, but terms (foreclosure, short sale, estate sale, contingencies, etc.) under which they were sold and the condition of the sold property… Read More
