Posts Tagged ‘appraisals’
New Appraisal Exemption Rule In Effect
As of October 9 there are new rules on appraisal, or rather which homes will no longer require them. Certain properties under $400,000 are now exempt from appraisal. Instead, exempt properties will be evaluated by the lending institutions with an estimate on property value. Here are the properties that will fall under the exemption: 1.…
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Appraisals are Creating Issues…Again
Appraisals are causing problems again for buyers and sellers for the first time in many years. Many appraisals are not coming in at value, despite comparables that support contract prices, leading to problems between buyers and sellers. Prices have come up quite a bit in many areas in the last few years, San Diego County…
Read MoreThe Unwritten Rule All Listing Agents Need to Follow (Sellers: Take Note)
If you are a listing agent or a seller who has hired an agent to sell your home, this is an important rule that is often ignored by agents – and it can cost home sellers a sale. It is not written down anywhere and is not required, but it is necessary in order to…
Read More6 Types of Monkey Business Going on in Real Estate Now
If you are a real estate agent or a home buyer you may notice that the market is obviously low on inventory right now. Being that it is the “selling season” of Spring/Summer, and since there are a lot of buyers out there looking at homes, there are many situations involving multiple counter offers and…
Read MoreHow To Get the Highest Appraisal Value for Your Listing
Appraisals are getting “tighter” and soon even more deals could begin crashing as buyers and sellers haggle the run up in asking prices. Understanding ( to an appraiser) your listing is simply a $500 appraisal fee, to you it’s a 3-6% commission; so by being proactive you will minimize the risks of losing large commission checks !…
Read MoreCurrent Housing Market Challenges
We all know that the housing market has been in recovery, and in most areas like here in San Diego, things are looking pretty positive. However, there are some challenges that face buyers and sellers in any market. Let’s take a look at some of those that should be considered now if you are a…
Read MoreWhat Price Should Buyers Offer on a Home in Today’s Market?
Many real estate markets across the country, including here in San Diego County, are currently experiencing seller’s markets, due to low inventory levels and increased demand for homes. Many homes receive multiple offers and are priced over neighborhood comparable sales values, and there are also many situations reported where buyers will remove appraisal contingencies in…
Read MoreAre We Headed Toward Another Housing Crash?
There are many people who feel we are headed toward another real estate bubble. With scare inventory, increasing prices, bidding wars, multiple offer situations, governmental programs falsely inflating prices, and buyers willing to pay over appraised value to purchase a home, it is easy to see why many feel this way. Today’s market is very…
Read MoreDon’t Let an Appraisal Ruin Your Sale
There has been a lot of talk lately in the real estate industry about inaccurate appraisals resulting in cancelled home sales. Appraisals have definitely been more challenging, as lenders and their underwriters place strict requirements on the use of comparable properties and of what exactly that can include. Both sellers and buyers have a few…
Read More5 Reasons Buying and Selling Real Estate is Difficult Today
Buying and selling anything in this economy can be a bit tricky, and that goes for real estate as well. Many buyers, who think they’ll be able to negotiate a phenomenal deal, are often discouraged when they actually get out there in the market and try to do so. Likewise, sellers who price their homes…
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