What Do Appraisers Look For When Determining A Property’s Value?
March 29, 2010 by Rick Wamsley · Leave a Comment
Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property. A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed their physical property inspection. However, the appraiser actually already has a good idea of the […]
Understanding the Difference Between an Appraisal vs Neighborhood Listing Prices
March 28, 2010 by Rick Wamsley · Leave a Comment
Why is there such a difference between what my appraised value is and the price similar homes are selling for on my street? It’s a great question, and you don’t have to be a mortgage professional or a real estate agent to understand the answer. The distinction lies in the purpose of the two valuations […]
Five Myths About Home Values
March 28, 2010 by Rick Wamsley · Leave a Comment
During periods of economic growth, when home values are typically just going up, most homeowners do not question appraisals much. And in times of turmoil 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 […]
How Do Mortgage Companies Value A Property That Has Not Been Built Yet?
March 28, 2010 by Rick Wamsley · Leave a Comment
It’s obviously easier to picture the process of estimating value on an existing property in a neighborhood that has a history of home sales, but the task of determining the value on new construction projects does pose some challenges. Appraisals on homes that haven’t been built yet generally require the contractor and home buyer to […]
Five Possible Reasons To Refinance Your Mortgage
January 31, 2010 by Rick Wamsley · Leave a Comment
A mortgage is generally the largest debt most homeowners have to manage. It’s a good idea to give your personal real estate finance portfolio a check-up at least once a year. Since there are many reasons a homeowner may choose to refinance, we’ll take a look at the five most common. 1. Term Reduction: Reducing the term […]
