article thumbnail

My Top 11 Tips For Realtors When Choosing Comps

Birmingham Appraisal

If agents can use the same techniques an appraiser uses the likelihood of there being a big discrepancy between the contract price and appraisal is reduced. 3) Use bracketing when choosing comps- The technique of using sales that are larger and smaller than the home you are pricing is referred to as bracketing.

article thumbnail

6 Ways to Prevent Conventional Loan Appraisal Revisions

Clear Capital

In an ideal world, an appraiser would have comparable sales in the same neighborhood with the same characteristics, similar construction style, square footage, lot size, room counts, upgrades, exterior amenities, condition, and quality of construction. When choosing comparable sales, bracket the location or view .

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Appraising Fixer Uppers

Appraisal Today

These types of clauses are now incredibly common amongst the construction trades, real estate professionals, wedding services, financial services, and more. Appraisers sought to bracket the subject using three comparable sales. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 6.29

article thumbnail

My Top 8 Search Criteria For Finding The Best Comps

Birmingham Appraisal

The contract price and appraisal value will need to line up or the buyer will not be able to get a loan to pay for the property. When considering sales for comps it is important to bracket the square footage so that you get a more complete picture of how square footage affects the sale price of a home.

article thumbnail

The Complete Guide to Buying a Home As a Government Employee

Raleigh Realty

Due diligence stretches from the time you sign a contract to closing. These homes aren't exactly new construction, but they are a steal. USDA loans are for those in the low to moderate-income bracket. Ask around for recommendations so you get an experienced agent who puts you first.

article thumbnail

Houston Housing Market Forecast: Current Data & 2021 Predictions

Houston Properties

For certain parts of the economy, usually in the upper-income brackets, they didn’t carry a lot of debt and they couldn’t go out to spend their money. Properties are still going under contract. Typically, new construction homes come with a higher purchase premium, and repair and maintenance require too much investment.