6 Reasons Your Home May Not Appraise In Today's Market • Birmingham Appraisal Blog
6 Reasons Your Home May Not Appraise In Today's Market • Birmingham Appraisal Blog
Abstract
The Principle of Conformity in real estate refers to the similarity of properties within a neighborhood in terms of their age, condition, size, style, and functional utility. Unique properties can be difficult to comp because there is not a lot to compare them to. It may be necessary to exceed the typical time of sale and distance guidelines to locate recent sales that are similar to the property. This is not the hard and fast rule but it is something to consider. It is not an easy rule. It was not a hard and quick rule.
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With the current shift in the real estate market, we may see changes in sales activity that will affect your home’s value. The market is constantly changing and it is important to keep up with what is happening if you want to stay current on property values. Today we’ll look at some reasons your home may not appraise. If you keep up with the news there’s no doubt that you’ve heard we are in a recession. In addition, we have had recent interest rate hikes that have started to affect the ...
With the current shift in the real estate market, we may see changes in sales activity that will affect your home’s value. The market is constantly changing and it is important to keep up with what is happening if you want to stay current on property values. Today we’ll look at some reasons your home may not appraise. If you keep up with the news there’s no doubt that you’ve heard we are in a recession. In addition, we have had recent interest rate hikes that have started to affect the ...
It’s already been said, however, I think it is worth stating again that the market has shifted. It’s important to keep this in mind when pricing your home to sell because if you don’t this could cost you both time and money. In fact, the market continues to shift. Anything that is related to the real estate market that changes has the potential to influence how much you can sell your home for and how long it might take to sell it. We all know that mortgage interest rates continue to move ...
It’s already been said, however, I think it is worth stating again that the market has shifted. It’s important to keep this in mind when pricing your home to sell because if you don’t this could cost you both time and money. In fact, the market continues to shift. Anything that is related to the real estate market that changes has the potential to influence how much you can sell your home for and how long it might take to sell it. We all know that mortgage interest rates continue to move ...
Owning a home isn’t the right decision for everyone. There are plenty of circumstances and reasons for someone to rent a place to live rather than buy. The problem is, sometimes people get stuck in the mentality that they should rent, based upon things they’ve heard, but never really questioned or thought through. Nobody can […]
The post Top 6 Reasons Renters Have for Not Buying a Home (And Why They May Be Wrong) appeared first on Lighter Side of Real Estate.
Owning a home isn’t the right decision for everyone. There are plenty of circumstances and reasons for someone to rent a place to live rather than buy. The problem is, sometimes people get stuck in the mentality that they should rent, based upon things they’ve heard, but never really questioned or thought through. Nobody can […]
The post Top 6 Reasons Renters Have for Not Buying a Home (And Why They May Be Wrong) appeared first on Lighter Side of Real Estate.
You found a house you love—hooray! But with lots of other buyers breathing down your neck, you feel like you need to act fast. To make your offer more attractive to the seller, you might be tempted to skip your home inspection, but here are five good reasons not to!1.) Not all problems are obvious. It’s easy to spot issues like a crack in the sink or a broken light fixture. But do you know how to recognize foundation problems, termite infestations, outdated wiring, or sewer system problems? ...
You found a house you love—hooray! But with lots of other buyers breathing down your neck, you feel like you need to act fast. To make your offer more attractive to the seller, you might be tempted to skip your home inspection, but here are five good reasons not to!1.) Not all problems are obvious. It’s easy to spot issues like a crack in the sink or a broken light fixture. But do you know how to recognize foundation problems, termite infestations, outdated wiring, or sewer system problems? ...
You found a house you love—hooray! But with lots of other buyers breathing down your neck, you feel like you need to act fast. To make your offer more attractive to the seller, you might be tempted to skip your home inspection, but here are five good reasons not to!1.) Not all problems are obvious. It’s easy to spot issues like a crack in the sink or a broken light fixture. But do you know how to recognize foundation problems, termite infestations, outdated wiring, or sewer system problems? ...
You found a house you love—hooray! But with lots of other buyers breathing down your neck, you feel like you need to act fast. To make your offer more attractive to the seller, you might be tempted to skip your home inspection, but here are five good reasons not to!1.) Not all problems are obvious. It’s easy to spot issues like a crack in the sink or a broken light fixture. But do you know how to recognize foundation problems, termite infestations, outdated wiring, or sewer system problems? ...
Home sellers have a number of choices when it comes time to put their house on the market. You can opt to make repairs to attract buyers and hopefully sell for a good profit. However, one option that is growing in popularity is selling as-is. There are several reasons why this may be a good choice for you. In this article, we’ll discuss the benefits and drawbacks of selling your home as-is, as well as when it may be the best option. What is Selling As-Is? When you sell as-is, you are simply se...
Home sellers have a number of choices when it comes time to put their house on the market. You can opt to make repairs to attract buyers and hopefully sell for a good profit. However, one option that is growing in popularity is selling as-is. There are several reasons why this may be a good choice for you. In this article, we’ll discuss the benefits and drawbacks of selling your home as-is, as well as when it may be the best option. What is Selling As-Is? When you sell as-is, you are simply se...
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There are many metrics for measuring success in business. The metrics could be Return on Investment (ROI), conversion rate, number …
Buying a home may be the American dream. But with escalating home prices, rising interest rates, low inventory, and inflation, as a first-time buyer, you may be wondering if that dream is out of reach. Many new homeowners rely on first-time homebuyer (FTHB) programs like low down payment and closing cost assistance to help get in the door. While these are great resources to tap into, it's helpful to keep in mind that many of these programs apply to homes in a specific price range. For example...
Buying a home may be the American dream. But with escalating home prices, rising interest rates, low inventory, and inflation, as a first-time buyer, you may be wondering if that dream is out of reach. Many new homeowners rely on first-time homebuyer (FTHB) programs like low down payment and closing cost assistance to help get in the door. While these are great resources to tap into, it's helpful to keep in mind that many of these programs apply to homes in a specific price range. For example...
Buying a home may be the American dream. But with escalating home prices, rising interest rates, low inventory, and inflation, as a first-time buyer, you may be wondering if that dream is out of reach. Many new homeowners rely on first-time homebuyer (FTHB) programs like low down payment and closing cost assistance to help get in the door. While these are great resources to tap into, it's helpful to keep in mind that many of these programs apply to homes in a specific price range. For exam...
Buying a home may be the American dream. But with escalating home prices, rising interest rates, low inventory, and inflation, as a first-time buyer, you may be wondering if that dream is out of reach. Many new homeowners rely on first-time homebuyer (FTHB) programs like low down payment and closing cost assistance to help get in the door. While these are great resources to tap into, it's helpful to keep in mind that many of these programs apply to homes in a specific price range. For exam...
It’s easy to be so pumped about what’s been happening that we miss out on what is currently going on. This can happen in the real estate market as well. As an appraiser, we must stay on top of what is going on in the market or we can miss the mark on value. Because real estate agents and appraisers are striving for similar results (estimating accurate value) we can all gain valuable insight from the same market data. Granted, the job of a real estate agent is to get the highest price for th...
It’s easy to be so pumped about what’s been happening that we miss out on what is currently going on. This can happen in the real estate market as well. As an appraiser, we must stay on top of what is going on in the market or we can miss the mark on value. Because real estate agents and appraisers are striving for similar results (estimating accurate value) we can all gain valuable insight from the same market data. Granted, the job of a real estate agent is to get the highest price for th...