Scott's Blog
Real Estate Related News and statistics.
ARCHIVED BLOG POSTS
2006
2
Comments
Your real estate agent has just brought you an offer on your home, and you want to think about it. You would like your agent to contact the other people who have shown an interest in your home. Whether your home has been listed for three days or three months, there is always a desire to hold out ...
12/15/2006
1
Comments
Here is a situation that many buyers have experienced. After searching for weeks, you found the perfect home and you made a very low offer. The sellers responded with a counter-offer which was several thousand dollars lower than their asking price. You came back with a slightly higher bid, and th...
12/15/2006
0
Comments
After the buyer and seller come to a "meeting of the minds" on the price of a house, there is one more person who must be convinced that the house is worth the selling price--the mortgage company's appraiser. The appraiser looks for three similar houses that have sold in the same area within the ...
12/14/2006
1
Comments
It is not unusual for homeowners to yield to the temptation to try to sell their own home. It seems easy enough--just place an ad in the weekend paper and wait for buyers to show up. Although it may seem simple, real estate sales transactions are extremely complex proceedings.The first pitfall ca...
12/14/2006
1
Comments
When you buy a house or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser will look for "three caballeros" or three "comparables" -- homes that are ver...
12/12/2006
2
Comments
Technical terms can be confusing to people who do not work in a profession, and real estate agents use language that may be confusing to many home buyers and sellers.If you find your eyes glazing over when your real estate agent starts talking about escrow, clear title, easements, encroachments, ...
12/12/2006
0
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Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to consider re-financing your loan at a lower rate.You will have to apply for the new mortgage and have your current income eligibility assessed. Depending on...
12/12/2006
0
Comments
Before your mortgage application is approved, the lender will order a professional appraisal of the home to make sure that the agreed-upon selling price is justifiable based on the current market value of the property. The cost of the appraisal will be based on the complexity of the appraisal rep...
12/12/2006
0
Comments
Many sellers think that the price of their home is determined solely by what they are willing to accept and what the buyer is willing to pay. However, there is one more variable that can affect the sale of a home assuming that a bank loan is involved -- the lender's appraisal. To protect the inte...
12/11/2006
0
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What is the best price for a piece of real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV has been defined as "the price that a buyer is willing to pay and the seller is willing to accept, when both parties are knowledgeable abo...
12/11/2006
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Scott Gerami
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