Posts Tagged ‘Mortgage’

Five Tips to Boost Your Home’s Appraisal

Posted on: October 16th, 2013 | No Comments

appraisalA home appraisal is certainly high on the list of awkward and potentially frustrating life events.  Some random stranger walks into your home, takes a peek around, and then tells YOU how much YOUR home is worth.  Whether the process is fair or not is certainly open for debate, but one thing is not:  the price the appraiser sets can make or break a real estate deal.  Appraisers are paid by lenders to make sure that they don’t approve loans for more than the properties are worth.  So, whether you are looking to refinance your mortgage, apply for a home equity loan, or sell your home, you need to turn that stranger into your new best friend by following these five tips.

 

1.     Appearance is everything

The sight of tacky lawn ornaments, dirty dishes, or a stack of books on the kitchen counter is not supposed to impact the appraisal, but it’s better to be safe than sorry.  Even the most objective appraiser may be influenced by external factors.  So, make sure to mow the lawn, trim the hedges, rake the leaves, wash your dishes, vacuum, clean the bathrooms, call the exterminator…you get the point.

 

2.     Keep (or make) a list of all upgrades

Take the time to put together a spreadsheet of the dates and costs of any upgrades, updates, additions, or other home improvement projects you have completed over the years.  Do you have any photos that can showcase the updated look?  What about receipts?  Don’t forget to point out structural or electrical improvements that may be hard to see with the naked eye.  Make sure to highlight features that separate your home from a comparable home.  Did you put in a pool or hot tub?  New roof or insulation?

 

3.     Location, Location, Location…

Ask the lender for an appraiser that lives in your area or has worked in the area before.  If that doesn’t work, do your best to convince the appraiser that you live in Pleasantville.  Mention the new restaurants in town, the dog park, the playground, the organic grocery store.  Is Tom Hanks your neighbor?  Find some selling points about the neighborhood or town that you live in and SELL.

 

4.    Spend Wisely

If you want to make a few upgrades to increase the price of the appraisal, make sure you spend your money on projects that are known to provide a solid return on investment.  Fresh paint, hardwood flooring and a new front door are all minor upgrades that usually add value to your home.  If you’re looking to upgrade larger spaces, kitchens and bathrooms generally provide the most bang for your buck.

 

5.     Do your own research

After finishing the inspection, the appraiser will find similar homes in your area (comparables) to help determine market value.  Check the web (zillow, trulia) and find at least 3 homes similar to yours that have favorable sales prices.  Don’t show any research to the appraiser that shows homes with prices (or circumstances) that are unfavorable to you.  Who knows, he/she may be so lazy that they simply use your research instead of doing their own.  Plus, you can use this research to challenge in the unfortunate case of a low appraisal.

Short Sales: Tips For Realtors

Posted on: April 12th, 2012 | No Comments

The short sale. It can be a big challenge for realtors to make one of these turn out well for everyone concerned. The fact that a mortgage is involved can put a bad taste in the home owner’s mouth – and that can translate into difficulties during negotiation.

 

Our webinar will give you some in-depth advice on making these tricky sales work, but until then, here are a handful of tips.

 

As a realtor, you need to emphasize how important it is for the seller to show the house to a number of potential buyers. Since a short sale client is most likely still going to be living in their home, they may feel awkward about having home inspectors or others strolling through the residence. Unfortunately, this is par for the course in a short sale. If you prepare clients for their mixed or unpleasant emotions about the situation, it can help things go more smoothly.

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Home Inspectors and Realtors: Why Getting Along Is Good Business

Posted on: March 29th, 2012 | No Comments

If you’ve spent some time looking at options for home inspection, you’ve probably noticed that realtors and home inspectors don’t always see eye to eye. In fact, some realtors and inspectors verbally bash the “other side” when talking with a home buyer or seller.

 

We think there’s a better way to navigate the housing market. Our ultimate aim is to provide a service for the client that is not only valuable and helpful, but pleasant. Tearing down an industry that may sometimes conflict with your interests creates a negative atmosphere – and it doesn’t give your client a reason to trust you. Create a relationship built on positives instead by emphasizing the value you offer and the openness of your inspection process!

 

In many cases, a home inspector and a realtor have goals in common. They both want the client to be able to sell or buy a house that will keep them happy for years to come. Giving the buyer/seller a sense of security and safety is also a shared goal. Realtors and home inspectors can work together to deliver these crucial services. The realtors know the ins and outs of mortgages, loans, and demographics, and can point you to the style of home you’re seeking. A home inspector understands the inner workings of that home and can ensure it is safe and cost-effective.

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Our home inspection company's history began in 1991 with the establishment of American Home Inspection. Over the course of the following seven years, a home inspection business prototype was developed that could be implemented anywhere in the United States. Our founders believed they had a unique methodology of providing homebuyers and sellers with consistent, professional and unbiased home inspections.

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