2017

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5 Things You Didn’t Know a VA Loan Could Do for You

Realtor

realtor.com Because of the bravery and sacrifices of veterans and active military, the rest of the country’s civilians can live the American dream in safety. As one tangible way to say “thank you for your service,” current and former members of the military have access to Veterans Affairs home loans. These unique mortgage options allow veterans and those still serving to own a piece of the American dream by potentially qualifying for homes they might have thought were out of reach.

Insurance 146
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Real Estate Appraisal Resources: The Ultimate List

Realvals

The following is a list of real estate resources compiled for the purpose of having a quick reference to these sources. I will be adding to the list as needed so come back often. Appraisal Organizations. Appraisal Foundation (TAF). Appraisal Subcommittee (ASC). Appraisal Institute (AI). American Society of Appraisers (ASA). American Society of Farm Managers and Rural Appraisers (ASFMRA).

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Square footage: Ask three professionals, get three different answers.

Padove Appraisal Service

Imagine you are in the process of purchasing a home. The real estate agent you are working with tells you the house is 2,200 square feet. The local tax assessor indicates that it’s 2,350 square feet. The appraisal report was just delivered and it says the home is 1,925 square feet. Who’s right? Maybe they’re all right! A real estate agent’s job is to market homes.

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Appraisals derail sales in the tight Chicago market!

Chicagoland Appraisal Blog

I came across a Facebook post from an appraiser friend of mine about an article written in the Chicago Tribune titled Homebuyers who pay cash win deals as appraisals derail sale in tight Chicago market. The title is definitely eye-catching especially to an appraiser in Chicago. The article touches on a variety of things that I’d like to respond to such as the reference to the shortage of appraisers.

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5 Things to consider when pricing your home in the current market

CM Appraisals

​Pricing your home in the current market By Tom Horn ​ Pricing your home in the current market When we talk about pricing your home in the current real estate market what should we really be looking at? There are some basic indicators that we have to consider when discussing how healthy the Birmingham housing market is. These indicators include the following: Number of homes sold, Average/median sales price, Days on market, Total inventory, and Months of supply.

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Communicating With The Appraiser: Top 10 Guide For Getting Answers About a Home Appraisal And Staying Compliant

Genworth MI Blog

The home appraisal has been requested … and the waiting begins. As a lender, many questions race through your mind: “Will the property condition be acceptable? Will repairs be needed? Will the appraiser give credit for all the upgrades in the home? Is the appraiser familiar with the neighborhood? Will the appraiser use good comparables? Will the appraised value be sufficient for the loan?”.

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How Does Lot Size Impact Property Value?

CP Home Appraisals

Homeowners who have larger lots than other lots in their area want to know if the value of their home would be substantially more. If a specific lot is approximately 3,000 to 5,000 square feet larger than other lots, it should have an appraised value that is greater. The more important questions is by how much? Researching other homes with larger lots and then comparing them to homes with smaller sized lots, will give you a pretty good idea of what the market is agreeable to pay.

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How Many Credit Checks Before Closing on a Home?

Zillow

Navigating the purchase of a home can be overwhelming for first-time buyers. Lenders require documentation of seemingly every detail of your life before granting a loan. And of course, they will require a credit check. A question many buyers have is whether a lender pulls your credit more than once during the purchase process. The answer is yes. Lenders pull borrowers' credit in the beginning of the approval process, and then again just prior to closing.

Buyers 36
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Real Estate Appraisal: The Real Value of Your Home

Aedis Appraisals

Normal. 0. false. false. false. EN-GB. X-NONE. TH. If you need to sell your home, how do you set a price? How much do you ask for the place you’ve lived and even raised a family? When you want to buy a home, what amount do you use to set your budget and how much are you willing to pay for the home that you want? While these are important questions, the answers may not be realistic for the type of home, the location, or the economy.

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Understanding the Most Common Real Estate Deeds in Colorado

The Colorado Real Estate Blog

Historically, when real property changed ownership, the seller brought the buyer a handful of dirt from the land to symbolize that the title was transferred. Now, instead of dirt, legal documents called deeds are used to convey the title of real property from one person or entity to another.

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5 Things You Didn’t Know a VA Loan Could Do for You

Realtor

realtor.com Because of the bravery and sacrifices of veterans and active military, the rest of the country’s civilians can live the American dream in safety. As one tangible way to say “thank you for your service,” current and former members of the military have access to Veterans Affairs home loans. These unique mortgage options allow veterans and those still serving to own a piece of the American dream by potentially qualifying for homes they might have thought were out of reach.

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Desktop Appraisals: Everything You Need to Know

Realvals

If you’re involved in the real estate industry in any way, you may have seen them or heard about them by now. They provide a quick estimate of property value without a hefty price tag. Homeowners, brokers, lenders, developers, and investors all use them. And no they aren’t restricted appraisal reports. So what am I talking about? Desktop appraisals!

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Is it a condo? Is it a townhome? Maybe it’s both!

Padove Appraisal Service

Philadelphia and the surrounding area offers a wide variety of housing options. Condominiums and. townhomes served by a homeowners’ association (HOA) are becoming increasingly popular. Residences. that are part of an HOA typically require payment of monthly dues however, these dues often cover. maintenance costs that would otherwise fall directly on the homeowner.

HOA 78
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Get ready to be gouged on home appraisal fees

Chicagoland Appraisal Blog

On February 9, 2017, Sen. Pamela J. Althoff in the Illinois Senate introduced legislation that would remove a provision requiring written disclosure to a mortgage loan applicant of the total compensation paid to the real estate appraiser when the home appraisal has been ordered through an appraisal management company. Basically, the state’s new legislation will increase home appraisal fees.

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Patch of Land is a Proud Sponsor of the Innovate Conference 2018

Patch of Land

Patch of Land is proud to be a sponsor of the 2018 Innovate Conference. The event will be held on February 7-9, 2018 at the Balboa Bay Resort in Newport Beach, CA. Tired of the same old conference? We are too. We decided that for a conference to be worth your time, we needed to show you the latest trends and insights in the private money lending space that we’re seeing.

Lending 28
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Communicating With The Appraiser: Top 10 Guide For Getting Answers About a Home Appraisal And Staying Compliant

Genworth MI Blog

The home appraisal has been requested … and the waiting begins. As a lender, many questions race through your mind: “Will the property condition be acceptable? Will repairs be needed? Will the appraiser give credit for all the upgrades in the home? Is the appraiser familiar with the neighborhood? Will the appraiser use good comparables? Will the appraised value be sufficient for the loan?”.

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Real Estate Appraisals That Will Stand Up In Court, If They Had To – Minnesota

MN Real Estate Services

When Emotions Are Raw, and Trust Is Low, You Need a Real Estate Appraisal That Could Stand Up In Court If It Had To. Your client is going through divorce and there is real property involved. One party thinks its worth a fortune, and fears their ex partner is trying to pull a fast one on the settlement. What do you do? You contact Minnesota Real Estate Appraisal Services LLC in Minnesota and get them to do an Appraisal that both parties can trust.

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How Does Lot Size Impact Property Value?

CP Home Appraisals

Homeowners who have larger lots than other lots in their area want to know if the value of their home would be substantially more. If a specific lot is approximately 3,000 to 5,000 square feet larger than other lots, it should have an appraised value that is greater. The more important questions is by how much? Researching other homes with larger lots and then comparing them to homes with smaller sized lots, will give you a pretty good idea of what the market is agreeable to pay.

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Understanding the Role of the Real Estate Agent

Zillow

The road to homeownership can be bumpy, and it's often filled with unexpected turns and detours. That's why it makes sense to have a real estate pro help guide the way. While real estate websites and mobile apps can help you identify houses you may be interested in, an experienced agent does much more, including: 1. Guide. Before you tour your first home, your agent will take time to learn more about your wants, needs, preferences, budget and motivation.

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Real Estate Appraisal: Accurate Information for All Concerned

Aedis Appraisals

Whether you’re the buyer or the seller in a real estate transaction, an accurate appraisal delivered by an experienced appraiser is more than important. It’s essential. When a specialist comes to see a property, they view it closely to determine a true value. The goal is to provide protection for everyone involved – lender, seller, and buyer. Think of it from this point of view: Once a reliable appraiser completes the work and provides you with an accurate report, you will have a value on the pr

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How to Effectively Maintain Your Property

The Colorado Real Estate Blog

Good tenants want properties reflecting well on their business. Property maintenance is a serious part of real estate management and ownership. Commercial and residential properties must keep their grounds, landscaping, and overall building aesthetics looking great.

Tenants 36
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How to Handle a Low House Appraisal and Not Lose Your Dream Home

Realtor

Kenishirotie/iStock It’s disheartening when a house appraisal comes back lower than the purchase price you and the seller agreed on. Your loan will cover only the appraised value of the home, so having to cover tens of thousands of dollars more than you anticipated could throw a serious wrench in the plan. Here’s what to do if the home you made an offer on appraises low.

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Do appraisals take into account home renovations? To what extent?

Realvals

There are always pros and cons with any home renovation. The biggest pro is that your home always looks way better, and the biggest con is that it always costs too much money. Renovation pros and cons also apply when it comes to home appraisals. Renovations give your home the added value, but never as much as you spent on the renovations in the first place.

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How to Handle a Low House Appraisal and Not Lose Your Dream Home

Realtor

Kenishirotie/iStock It’s disheartening when a house appraisal comes back lower than the purchase price you and the seller agreed on. Your loan will cover only the appraised value of the home, so having to cover tens of thousands of dollars more than you anticipated could throw a serious wrench in the plan. Here’s what to do if the home you made an offer on appraises low.

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A Seller Giving a Counteroffer Over the Asking Price: Absurd but Not Unheard Of

Realtor

SIphotography/iStock Can a seller give a counteroffer over the asking price? (It seems strange—if the seller thought the home was worth more, maybe he should have started with a higher asking price.) Well, the short answer is yes. “Absolutely, the seller can counter your offer above the listing price,” says David Welch , a Realtor® in Winter Park, FL. “Whether or not the property will appraise is a different question.” That, of course, is one of the difficulties of findi

Sellers 78
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A Seller Giving a Counteroffer Over the Asking Price: Absurd but Not Unheard Of

Realtor

SIphotography/iStock Can a seller give a counteroffer over the asking price? (It seems strange—if the seller thought the home was worth more, maybe he should have started with a higher asking price.) Well, the short answer is yes. “Absolutely, the seller can counter your offer above the listing price,” says David Welch , a Realtor® in Winter Park, FL. “Whether or not the property will appraise is a different question.” That, of course, is one of the difficulties of findi

Sellers 78
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How to Prepare for an Appraisal and Showcase Your Home at Its Best

Realtor

SolisImages/iStock Determining a price for your home can be stressful, especially if you don’t know how to prepare for an appraisal. If the home’s appraised value is too far from the listing price, it can make or break the deal. Plus, even though appraisers are subject to strict regulations, much of their job is subjective, which means it’s crucial for your home to make a good impression on them.

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How to Prepare for an Appraisal and Showcase Your Home at Its Best

Realtor

SolisImages/iStock Determining a price for your home can be stressful, especially if you don’t know how to prepare for an appraisal. If the home’s appraised value is too far from the listing price, it can make or break the deal. Plus, even though appraisers are subject to strict regulations, much of their job is subjective, which means it’s crucial for your home to make a good impression on them.

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How Long Does It Take to Get a Mortgage? Longer Than You Might Think

Realtor

Marrypopins/iStock In the age of same-day delivery and smartphones, we’re used to rapid wish fulfillment. With a few clicks and taps, and within hours, a drone drops a package on your porch. But when it comes to getting a mortgage, that’s just not how things work. So how long does it take to get a mortgage? Probably longer than you think. “Today’s mortgage process is very involved, particularly with regard to the documentation required, third-party verifications, and the independent appraisal pr

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How Long Does It Take to Get a Mortgage? Longer Than You Might Think

Realtor

Marrypopins/iStock In the age of same-day delivery and smartphones, we’re used to rapid wish fulfillment. With a few clicks and taps, and within hours, a drone drops a package on your porch. But when it comes to getting a mortgage, that’s just not how things work. So how long does it take to get a mortgage? Probably longer than you think. “Today’s mortgage process is very involved, particularly with regard to the documentation required, third-party verifications, and the independent appraisal pr

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Steps to Buy a House: How Long Do They Take?

Realtor

Pureradiancephoto/iStock Homes aren’t impulse purchases. It takes time to sift through listings and make your way from one home showing to the next; then, of course, there are those agonizing hours you wait to find out if your offer on a house was accepted, whether you can secure financing, and any number of other holdups. Just so you’re prepared to play the waiting game, here are the steps to buy a house and how long they typically take, so you aren’t sitting there holding you

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Steps to Buy a House: How Long Do They Take?

Realtor

Pureradiancephoto/iStock Homes aren’t impulse purchases. It takes time to sift through listings and make your way from one home showing to the next; then, of course, there are those agonizing hours you wait to find out if your offer on a house was accepted, whether you can secure financing, and any number of other holdups. Just so you’re prepared to play the waiting game, here are the steps to buy a house and how long they typically take, so you aren’t sitting there holding you

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Rocker Steve Miller Sued for Ditching $6.7M Mansion

Realtor

Mike Coppola/Getty Images Rocker Steve Miller ‘s a joker, backing out of buying a $6.7 million mansion in Dutchess County at the last minute and leaving the owner in a lurch, a new Manhattan federal lawsuit says. The “Fly Like an Eagle” and “Joker” singer had ponied up a $670,000 down payment to buy the Lagrangeville home of former Toys “R” Us CEO John Eyler — but reneged on the eve of the closing in December after an appraisal “greatly undervalued” the house at $4.3 million, the suit says.

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Rocker Steve Miller Sued for Ditching $6.7M Mansion

Realtor

Mike Coppola/Getty Images Rocker Steve Miller ‘s a joker, backing out of buying a $6.7 million mansion in Dutchess County at the last minute and leaving the owner in a lurch, a new Manhattan federal lawsuit says. The “Fly Like an Eagle” and “Joker” singer had ponied up a $670,000 down payment to buy the Lagrangeville home of former Toys “R” Us CEO John Eyler — but reneged on the eve of the closing in December after an appraisal “greatly undervalued” the house at $4.3 million, the suit says.