Home Appraisals Category
How Do Mortgage Companies Value A Property That Has Not Been Built Yet?
The task of determining the value on new construction projects does pose some challenges. There may not be comparables that ideally represent your home.
Appraisals on homes that haven’t been built or are under construction generally require the contractor and home buyer to supply more documentation in order to get a more accurate estimate of the property’s value.
For some, building a new home can be both exciting and overwhelming.... Continue Reading >
Understanding the Difference Between an Appraisal vs Neighborhood Listing Prices
Appraisals [incity] are meant to be a realistic determination of the value of a home if it were to sell in the current market, in its current condition.
Why is there such a difference between the appraised value of my home and the listing price of my neighbors home?
This is a great question, and you don’t have to be a mortgage professional or a real estate agent to understand the answer. The... Continue Reading >
Five Myths About Home Values
When home values are going up, most homeowners do not question appraisals.
When property values are declining, home sellers and even listing agents quite often question and pick apart appraisals.
However, the actual appraisal process changed very little over the course of the housing boom and bust cycle American homeowners witnessed between 2001 – 2009.
Since the topic of home values seems to be a hot discussion, let’s address the top five appraisal myths.
Appraisal Myths / Questions:
“I just put... Continue Reading >
