appraisal: REFINANCING REPRESENTS REALTOR OPPORTUNITY! - 12/10/12 02:50 AM
REFINANCING REPRESENTS REALTOR OPPORTUNITY!
I had a great call today!  A house I sold to my buyer last year just appraised for $60K more than what they paid when they bought it!
I received this wonderful call from my favorite banker who told me, "here's a great marketing opportunity for you!"  Turns out I have been doing a good job for my buyers (who knew?!).  They are receiving appraisals both on the initial purchase, and subsequent refinancing, in excess of the price negotiated for their homes.
I must admit: I don't often check in with my buyers post-closing to see if … (0 comments)

appraisal: When good ideas go bad… - 03/11/10 11:53 PM

Scenario: Listed home sells for $5,000 above asking. Bank appraisal comes in $25,000 below sale price.
Real Life Result: After Buyer agreed to put $10,000 more cash into the deal, Seller still received $15,000 less than the originally agreed price.
What happened: The recent rules change regarding real estate appraisals had their effect on this deal. The rule is Lenders can no longer choose the appraiser. The idea was to prevent lenders from pressuring appraisers to produce inflated property values.
Now appraisal orders flow from the bank through an independent agency acting as intermediary to assign out the appraisals. The … (6 comments)

 
Margo Otey (REMAX EXECUTIVE REALTY)

Margo Otey

Westborough, MA

More about me…

REMAX EXECUTIVE REALTY

Address: 77 Main St, Hopkinton, MA, 01748

Office: (508) 435-6700

Mobile: (508) 439-9717

Thoughts, issues, tips, advice, forecasting for the Metrowest real estate area.


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