What Is The Difference Between Desktop Appraisals And Full Appraisals?
Many people are unsure whether they need a Desktop Appraisal or a Full Appraisal. Learn what the difference is so you can choose the right appraisal for your property.
Low Real Estate Appraisal? Here’s What To Do
As the real estate market continues to grow, more home buyers and sellers are coming across a common issue: An appraisal that is too low! After all, valuations must be based on recent comparable sales, or "comps," and in some cases the rising rate of home sales does not match the rates of homes sold previously. In this article, I'll cover what to do if you get a low appraisal. But first, you need to ask why? Why is the appraisal lower than your expectations? This may have occured because as home rates continue to recover from the housing crisis of
Celebrity Real Estate Update: Celeb-To-Celeb Sales
In my previous coverage of celebrity real estate, I spoke about buying homes at a premium price because the home may have a famous former owner. This week, after reading an intriguing article in the Hollywood Reporter about how celebrities sell homes to other celebrities, I decided to do a celebrity real estate update to address a niche market: Celeb-to-celeb sales. The article discusses how celebs love selling to other celebs. There are plenty of reasons as to why. For example, celebrities have special security needs like high walls and intricate alarm systems. Further, there are personal needs like gigantic walk-in closets and plenty
How Accurate Are The Appraised Values Of Zillow And Trulia?
A question I often get is, "How accurate is Zillow and Trulia?" This is a great question because it allows me to explore and show you whether or not online appraisal websites are on the money. I randomly selected five appraisals, located in different parts of the country, done by our team of certified appraisers. I then compared their values which were certified by our appraisers with the amounts shown by Trulia.com and Zillow.com. By the way, if you want to see the estimated value of a home, go to Google and type in the address and the listing should
Washington D.C. Real Estate: Supply And Demand
Washington D.C. is a cultural and historical mecca. Having dozens of great neighborhoods a Metro ride away and a bustling political and business climate keeps the D.C. real estate market competitive. It's no wonder people flock there to live and work. As appraisers, our team is constantly in and out of so many Washington D.C. neighborhoods and homes; this familiarity that has led to a great understanding of the trends and home sales averages of the Washington D.C. real estate market. When a client wanted our take on Washington's priciest neighborhoods to buy a home, we used this list to answer some questions.
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
What Happens At The Bank When An Appraisal Request Is Made For A Loan?
You have found the home of your dreams, congratulations! The paper work has been obtained and you're hoping for a closing date soon. Your next step should be to get an appraisal in order to understand the true value of your new home, and to get a loan from the bank. So what happens when a bank requests an appraisal for a loan? The majority of real estate appraisals are requested by mortgage companies to determine the property's purchase price for a loan. The appraiser is your safety net against spending more on your home than it’s really worth. It’s also a safety
The 2013 Real Estate Market
It seems like 2012 came and went so quickly. Was this a good year or a challenging year for you? Let's take a look at the 2012 real estate market and the 2013 real estate market and make some predictions for the year to come! The National Association of Realtors reported that home sales were up 5.9 percent for the month of November and that sales are on track for a five year high. This is great news because it means that sales are up from last year. However, most appraisers and agents say that the market has some ways to go. Buyers
Top Celebrity Real Estate Deals of 2012
Celebrity homes come and go on the real estate market. One day, a big name comedian owns a mansion and the next day, a rising starlet is the new proud owner. This isn't news in Hollywood, but as New Years Eve of 2013 approaches take a look at some of the biggest celebrity real estate deals of 2012. 1. Joan Rivers' NYC penthouse apartment is going $29.5 million. The 5,190-square-foot apartment is located on the Upper East Side. It's got four bedrooms and five baths. It also features a private elevator entry hall, two wood-burning fireplaces, 23-foot ceilings, a large corner library and a formal
Determining Real Estate Value During Divorce
As far as divorce proceedings go, for most couples, the home is a major shared asset. The first step in dealing with the splitting of assets is to determine the real estate value during divorce. Use An Appraiser An appraiser is the best way to help determine the value of your assets. They are better trained in this situation than a Realtor. Further, a tax assessment value is not actually an accurate method of determining value. Understanding The Difference Between Marital And Non-Marital Equity There are classifications of assets. Some get divided during a divorce and others don't. This is determined mainly
