appraisal: Knowledge Is Power When It Comes to Appraisals and Inspections
- 11/08/21 06:29 AM
Buyers in todays market often have questions about the importance of getting a home appraisal and an inspection. That's because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. But is that the best move? Buying a home is one of the most important transactions in your lifetime, and its critical to keep your best interests in mind. Here's a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money, … (1 comments)
appraisal: What Buyers and Sellers Need To Know About the Appraisal Gap
- 09/09/21 05:42 AM
Its economy 101 when supply is low and demand is high, prices naturally rise. That's what's happening in todays housing market. Home prices are appreciating at near-historic rates, and that's creating some challenges when it comes to home appraisals. In recent months, its become increasingly common for an appraisal to come in below the contract price on the house. Shawn Telford, Chief Appraiser for CoreLogic, explains it like this: Recently, we observed buyers paying prices above listing price and higher than the market data available to appraisers can support. This difference is known as the appraisal gap . . . . Why does an … (2 comments)
appraisal: What To Expect as Appraisal Gaps Grow
- 07/05/21 06:11 AM
In todays real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, elaborates: The frequency of buyers being willing to pay more than the market data supports is increasing. While this is great news for todays sellers, it can be tricky to navigate if the price of your contract doesn't match up with the appraisal for the house. Its called an appraisal gap, and its happening more … (7 comments)
appraisal: What's the Difference between an Appraisal and a Home Inspection?
- 02/22/21 06:13 AM
What's the Difference between an Appraisal and a Home Inspection? If you're planning to buy a home, an appraisal is an important step in the process. Its a professional evaluation of the market value of the home you'd like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. Its also a different step in the process from a home inspection, which assesses the condition of the home before you finalize the transaction. Here's the breakdown of each one and why they're … (3 comments)
appraisal: You Need An Appraisal
- 05/13/08 11:47 AM
Had a listing appointment the other day and wanted to share my experience as well as maybe get your advice or opinion. This prospect/customer had a 10-acre lot with a 1,700 square foot, 3-bedroom, 2-bath house on it. But she gave 5-acres to her son and now wanted to sell her share 5-acres which has the house setting on it. They had a rod-iron fence custom built around the 10-acre lot with a horseshoe style driveway and a remote gate (which had NO Keypad, required remote from within). They stated she wouldn't sell for less then $500,000, justifying the price because of … (6 comments)
Buyers in todays market often have questions about the importance of getting a home appraisal and an inspection. That's because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market.
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