Realtor

MAY 17, 2023

As a seller, here’s what you need to know about the settlement process. If the appraisal comes in higher than the sales price, then the buyers can relax in the satisfaction they’ve purchased a home for less than its market value. Once the contract has been signed, a seller can’t renegotiate the price higher.

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Sellers Inspection Contracts Property Taxes 142

Housing Wire

OCTOBER 12, 2023

When we go through the brokerage valuation process, the product is Fair Market Value (FMV). This is essentially the home price that a willing homebuyer would pay a seller. FMV is based on what we consider neutral terms, where the risk is equally shared between the buyer and the seller. the purchase price).

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Sellers Buyers Brokerage Agents 378

Housing Wire

JANUARY 9, 2023

This article is part of our 2022 – 2023 Housing Market Forecast series. These buyers are primarily local community developers who purchase distressed properties and then resell or rent those properties on the retail market following rehab — a process that typically takes six to 12 months. . Cincinnati and Miami.

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Appraisal Buzz

MARCH 25, 2024

The transaction is a complex interplay between buyer and seller. Imperfect though our efforts may be, we must work to untie the knot of each transaction and of the real estate market as a whole. The representative price of this hypothetical interaction (the product of the synthesis) is known as market value.

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Sellers Appraisal Real Estate Buyers 379

Cleveland Appraisal Blog

JULY 20, 2022

Appraisal gap clauses have become relatively common in recent years due to many homes being sold at prices that market data does not support as being the market value. In this hot market, it’s not surprising that this type of clause is being written into some contracts. But not always.

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Appraisal Market Value Contracts Buyers 397

Realtor

SEPTEMBER 19, 2023

That means you get zero say in who’s determining the financial value of the home you’ve lived in, loved, and sunk your savings into. Here are some things sellers can do—straight from the home appraisers’ mouths—to navigate the process of home appraisals. And they won’t be fooled.

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Appraisal Sellers Real Estate Agent Appraisal Process 194

Empire Appraisal Group

JULY 14, 2022

Equity rich means that the combined estimated amount of the loan balance on the home was no more than 50% of the home’s estimated market value. Homeowners continue to benefit from rising home prices,” says Rick Sharga, executive vice president of market intelligence for ATTOM. The post Sellers’ Market Peak?

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Sellers Marketing Market Value Realtors 78

Housing Wire

APRIL 19, 2024

Redfin defined luxury homes as those estimated to be in the top 5% of their metro area based on market value, while non-luxury homes are those with estimated values in the 35th to 65th percentile. High-end buyers tend to be more immune to mortgage rate fluctuations and flock to the luxury housing market. year over year.

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Luxury Properties New Listings Buyers Housing Market 420

Appraisal Buzz

SEPTEMBER 26, 2022

The “official unofficial” government-related loan definition of market value is clear. It says buyer and seller are: Prudent and knowledgeable. Also part of the definition: Reasonable market exposure time. As an appraiser, I had to look at what I had spent a lifetime doing: “Find market value.”

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Market Value Sellers Buyers Finance 321

Housing Wire

SEPTEMBER 19, 2023

This will help you set a realistic price and manage your sellers’ expectations. For appraisals that are low, a seller may want to get a second appraisal. If the second appraisal comes back higher, buyers and sellers may feel more comfortable meeting in the middle. At this point, an estimated market value is generated.

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Real Estate Appraisal Agents Inspection 443

Cleveland Appraisal Blog

APRIL 21, 2022

Could being located next to a property that is an eye-sore cause a loss in market value to your home? Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Of course, that’s not the same as market value.

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Market Value Appraisal Agents Real Estate Agent 350

Appraisal Buzz

JULY 18, 2022

Naturally, this has forced buyers to seek lower price points or has completely eliminated them from the market. Therefore, it begs the question: what will happen to home values? It has been advertised that most markets lack substantial supply of homes – especially for low- and moderate-income housing.

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Sellers Marketing Market Value Home Value 435

Housing Wire

DECEMBER 4, 2020

iBuyer purchase volumes were significantly lower during the third quarter this year than they were pre-pandemic, according to zavvie ‘s inaugural Seller Preference Report. of market value across all markets since then. In Q3, iBuyer purchases dropped 82% year over year. Offer acceptance was at 4.7% the year prior.

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Sellers Market Value Inventory Marketing 375

Appraisal Buzz

AUGUST 16, 2021

Trying to meet deadlines, keep my clients informed, and put out a quality product in this busy market is enough to make my head spin. Lately, though, I’ve been trying to carve out some extra time to find out about what other appraisers are saying and doing in this unusual market. But what offer will the seller accept $400,000.

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Market Value Buyers Appraisal Sellers 448

Realtor

AUGUST 7, 2019

“The collateral for the loan is the home, so lenders require an independent appraiser to inspect it and advise on its value,” explains Michael Drake , president of PMG Home Loans. And they may not accept an appraisal that the seller did at the time of listing.”. Appraisal value isn’t always the same as market value.

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Sellers Appraisal Market Value Real Estate Agent 111

Housing Wire

AUGUST 28, 2023

In a shrinking mortgage market, fee pressures are the main challenge for appraisers, according to a new survey from the National Association of Realtors. Appraisers , however, feel AMCs put pressure on the market by taking a increasing cut of appraisal fees. Meanwhile, 39% said they had challenges finding sellers.

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Appraisal Logistics Valuation Appraisal Process 366

Appraisal Buzz

OCTOBER 12, 2021

For many different reasons, properties can come on the market in less-than-par condition. The degree and cost to cure becomes an issue to buyers and sellers, and a challenge for appraisers. At some point it’s no longer “normal market value minus cost to cure equals as-is value.”

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Appraisal Market Value Sellers Investing 195

Eppraisal

FEBRUARY 14, 2024

Let's delve into the intricacies of closing costs, what they entail, and how they impact both buyers and sellers. While the specific expenses may vary depending on factors such as location and the type of mortgage, both buyers and sellers can expect to incur closing costs when completing a property sale. What are Closing Costs?

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Sellers Buyers Property Taxes Real Estate Agent 36

D Fritz Appraisals

MAY 13, 2024

7 Steps to Ensure Your Home Sale Goes Smoothly The real estate market in British Columbia is dynamic and diverse, with bustling urban centers like Vancouver and Victoria alongside picturesque rural communities. Professional staging services can be employed for those seeking expert guidance, although many sellers undertake this process.

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Real Estate Buyers Sellers Appraisal 115

Realtor

AUGUST 7, 2019

“The collateral for the loan is the home, so lenders require an independent appraiser to inspect it and advise on its value,” explains Michael Drake , president of PMG Home Loans. And they may not accept an appraisal that the seller did at the time of listing.”. Appraisal value isn’t always the same as market value.

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Sellers Appraisal Market Value Real Estate Agent 78

Housing Wire

FEBRUARY 7, 2023

The year ahead for the mortgage-servicing rights market is shaping up to be a lucrative play for investors, lenders and others looking to purchase MSR assets. Independent mortgage banks (IMBs) leaning on MSR sales, however, now face a supply-demand imbalance, market observers say. These differences can cause volatile MSR values.

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Sellers Investors Valuation Finance 291

Housing Wire

OCTOBER 15, 2020

Homeowners can now get a StreetEasy estimate of their homes’ current market value based on features that are unique to New York City, the company said. Homeowners start by claiming their home, then requesting an AI-powered estimate of their home’s current market value, an estimated price per square foot and monthly rent.

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Valuation Tools Market Value Real Estate 353

Lamacchia Realty

OCTOBER 13, 2022

Sellers and their agents use comps to help determine a proper list price for a property. Closed comparable sales, also known as ‘comps,’ are used to approximate market value for residential properties. All else being equal, the more recent the sale is, the more weight should be placed on the comp’s value.

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Marketing Sellers Buyers Market Value 67

Appraisal Buzz

SEPTEMBER 12, 2022

Since 2020, iBuying has soared in popularity as many sellers have taken advantage since the start of the pandemic. Sellers used iBuying to bypass the lengthy aspects of the traditional homebuying process to receive cash payments in an expedited manner. What should appraisers know about the state of the iBuying market?

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Supply Chain Sellers Housing Market Appraisal 195

Cleveland Appraisal Blog

OCTOBER 14, 2021

Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. Let’s talk about the difference between today’s market and the one during the years leading up to the bursting of the housing bubble in the Great Recession of 2008. Granted, mortgage rates were not terrible.

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Inventory Market Value Appraisal Contracts 243

Lamacchia Realty

OCTOBER 25, 2023

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. Fewer sellers need to adjust their price because, again, it’s a seller’s market.

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Bracketing Marketing Sellers Buyers 61

Listing Spark

DECEMBER 9, 2020

One of the most common questions we get from our home sellers at ListingSpark is “How do I determine what my closing costs are”? For this article, we are going to focus on the home seller closing costs we would typically see in Texas with a residential sale (commercial sales typically have a different set of fees).

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Sellers HOA Insurance Contracts 69

Empire Appraisal Group

OCTOBER 5, 2023

A date of death appraisal, also known as a “valuation as of the date of death” is a type of real estate or personal property appraisal that determines the fair market value of assets as of the date a person passed away. This value is essential for tax reporting and compliance.

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Appraisal Market Value Valuation Law 78

Appraisal Hub

NOVEMBER 30, 2023

In the bustling real estate market of Toronto, understanding the true value of your residential property is more crucial than ever. Whether you’re considering selling your home, refinancing your mortgage, or simply looking to understand your property’s market value, a professional residential appraisal is the key.

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Appraisal Property Taxes Valuation Market Value 78

Realtor

NOVEMBER 7, 2023

This amount can change depending on market factors. If demand in your area is high, a seller could expect a larger deposit. If the market is cold, a seller could be happy with less than 1%. Other governing factors like state limitations and rules can cap how much earnest money a seller can ask for.

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Birmingham Appraisal

MAY 21, 2024

I have found that the school system is the biggest driver of property values in the Birmingham, Alabama market. These features can significantly enhance the desirability and therefore the value of a property. Condition and Age of the Property The age and condition of a home directly impact its market value.

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Home Value Architecture Renovations Real Estate 68

Housing Wire

JUNE 11, 2021

You can potentially ask the seller to pay for the improvements, or you can ask for a lower sales price to offset the cost of the repairs. A qualified appraiser will compare recent sales of similar local properties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair market value.

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Inspection Appraisal Buyers Appraisal Process 427

Housing Wire

AUGUST 3, 2023

They repeat the mantra “Home buyers and sellers will always need a real estate agent.” Job functions most likely to be impacted include sales, marketing and software engineering. Given that sales and marketing are key areas for real estate agents, generative AI will increase the probability of agents winning listings.

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Real Estate Agent Real Estate Agents Tools 370

JMV Lending

MARCH 16, 2022

“I knew a guy who sold his house for $100,000 under the market value because he felt like it…” said nobody. My point is that no seller is ever going to knowingly sell a property for under market value in this day and age – when listing information is made available to everyone via […].

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Appraisal Market Value Lending Sellers 78

Appraisal Buzz

MAY 20, 2024

As an appraiser, you’re already familiar with buzzwords like seller’s and buyer’s markets. A seller’s market indicates demand is high and inventory is low, while a buyer’s market means inventory is high and demand is low. Navigate a seller’s market by considering the following.

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Appraisal Marketing Sellers Valuation 370

National Association of Realtors

AUGUST 1, 2023

The answer to who can set market value involves buyers, sellers—and the very definition of “value.”

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Home Value Market Value Appraisal Sellers 69

Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. The seller will probably never know.

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Appraisal Market Value Contracts Agents 418