Are Free Home Appraisals A Good Way To Determine A Home’s Value?
There are tons of websites that provide free home appraisals. It sounds like a great idea, right? A free house appraisal? Stop right there. Sometimes, you really get what you pay for, and with a free home appraisal, you get nothing. Here's why: Home appraisal and valuation sites that offer "free" or "instant" services are a dime a dozen on the internet. This seems like a good value -- after all, it's free and it's instant. Getting the true market value estimate of your home never works that way. What these websites offer is actually an inaccurate value for the
Can You Negotiate The Appraised Value?
The thrill of negotiating or bargaining a sales price appeals to many of us. Once, on a vacation with my family in Barbados, we spent time bargaining with local salesmen on antiques. This was, of course, a big part of the fun. When it comes to appraisals, I've heard people ask if there is any room for negotiating, as in when a home sells and the seller and buyer negotiate certain terms. The short answer is not really, but here are some options for the longer answer: If the home buyer and seller agree on a price, can the appraiser appraise it lower or higher
The Secret Of A 48-Hour Home Appraisal Makeover
We love success stories for home buyers and sellers. When someone gets a low figure for their home and finds ways to fix up some of the issues and sell for a better rate, we are overjoyed. The housing market is confusing enough as it is, so when we hear good news we share it. A recent ABC News report stated that the housing market median home prices have risen since last July. This is great news for the millions of U.S. citizens with their homes on the market. The better news is that the program also offered a 48-hour
Kanye West And Kim Kardashian House Hunt
Photographers caught love birds Kim and Kanye in Miami, Florida recently. This wasn't a regular lunch date for the two, in fact, it seems that they were house hunting for their next dream house. As you can imagine, the duo were not looking for fixer-uppers. Instead, they were looking at ritzy waterfront properties with lots of space to fit their extensive shoe and fashion collections. It is well known that Kanye has well-over 200 pairs of sneakers. And of course, Kim will want to invite the Kardashian clan over and Kanye will probably want a recording studio. Kim Kardashian and
Should A Cash Buyer Get An Appraisal?
We received a call from a prospective client who asked about whether or not an appraisal was needed if she were a cash buyer. She went on to say that the price she was quoted by the homeowner seemed reasonable since her friend had purchased a house nearby for just about the same amount. However, she stated that she had not seen her friend's home yet and the square footage and number of rooms could not be determined. This means that her friend's home cannot be used as a valid comparable. Now, whether someone paying for their home with cash
Divorce Appraisal: The Basics
It's an unfortunate time when you are going through a divorce. Whether it is amicable or challenging, there are several things that need to be divided. A division of property (or properties) is often on top of the priority list for divorcing couples. But where do you even begin? You must begin with a professional divorce appraisal. This is mandatory because a judge cannot simply determine how much any home is worth on a whim or based on the testimony of either spouse. This is a legal procedure and must be done correctly. Either your attorney knows a local appraisal
Is A DIY Appraisal A Good Idea?
There are a great many online sites that allow you to check out how much homes in your area are worth. This makes it easy for the average person to feel like they can appraise their own home. While a DIY appraisal may seem like a cost efficient way to do things, there are a great many mistakes that can be made, and this can endanger a home sale. What are some reasons for researching comp sales on your own? You want to investigate what the current market is like You're buying a home and want to feel confident that
Low Appraisal? Here Is What To Do
Several real estate appraisers have mentioned that foreclosures and short sales have created a new price structure that includes average home sales prices and distress sales. This means that homes may have been appraised at a lower value because the "comps" in the area are low as well. So what should a homeowner do if the valuation is too low? Appraise First, Set the Sales Price Second Get an appraisal before you list the home for sale, this way you can take steps to raise the value if the price falls short of your expectations. Get a Copy of the Appraisal
Is An “As-Is” Appraisal A Good Idea?
A local appraiser we work with recently received a call to appraise a home in Florida. The home owner said that his home consisted of 2 acres of land and a partially built residence. He wanted to know if an “as-is” appraisal for the property was a good idea. Normally, homes that are under construction are not good candidates for accurate “as-is” appraisals because it is very difficult or nearly impossible to find comparable homes that have sold while in similar states of repair. Plus, when doing an “as-is” appraisal, the home in its current state is not worth the same amount as the home in
Do Bigger Improvements Get A Better Appraisal?
The short answer is yes. However, the long answer requires some consideration. As we've discussed before, the most accurate appraisal figures come from the comps in the vicinity of the subject property. "Comps" is just a term appraisers use to describe comparable properties in your area. So, comps are homes with the same or similar number of beds, baths, square feet, garages and etc. For example, if homes in your area are selling for $200k and you want your value to be $225k, your home needs to be better than the homes selling. This means more room, spare bedrooms, or
