Saturday, April 27, 2019 / by Connie Tracy
Generally, a certified residential appraiser needs about six to eight hours to finish an entire appraisal. They start by researching the home. They look at the location... is it on a busy street or not and tax records. After that, they book the appointment and visit the house.
An appraisal home visit will take about an hour... for the most part. Sometimes, they may not need that much time if they are familiar with the area. The appraiser comes in and measures the square footage of the interior of the house, minus the garage or any space that isn't permitted. They make sure that the reported square footage is the same as the actual footage.
There are three important factors of the appraisal:
* the square footage of the home
* any home upgrades or renovations
* comparables (homes similar in size, age, condition, and location to the home that have sold within the past six months to a year)
THIS IS WHY IT IS IMPORTANT TO GET COMPS FROM AN REALTOR
The idea is th ...
Saturday, April 27, 2019 / by Connie Tracy
When choosing an agent, they should not only be good listeners, communicate, and be knowledgeable, they should EDUCATE, ADVOCATE, and NEGOTIATE for YOU!
Here are some tips to use while interviewing real estate agents for purchasing and selling homes:
Finding a Quality Agent:
You have found a lender. Lenders interact with tons of agents over the years and can usually point buyers in the right direction towards professional agents that provide the BEST customer service and efficient documentation to the lender. TRUST your lender's opinion, especially if the lender is local.
Friends and Family:
Know any friends and family that have recently sold or purchased a home? ASK them for suggestions! They will probably give you the BEST review of an agent and the experience they had with them... whether it was good or bad.
Check out Reviews:
How do buy online? We look at reviews! I know you are looking at Zillow, Realtor, and Trulia to ...
Friday, April 26, 2019 / by Pamela Glende
Spring is in the air, the weather is warming, the flowers are blooming, and home shoppers are out looking with great anticipation on finding a home.
If you are considering selling your home, Spring is the perfect time to list. As the weather warms home shoppers have come out of hibernation.
The market is a hot seller’s market with just over a month’s worth of inventory. A balanced market has 5.5 months of inventory. This is a great position to be in as a seller, but not so much as a home buyer because the competition to get their offers accepted is tough. With so little inventory and so many buyers there are plenty of bidding wars going on to get into contract on a home purchase.
My advice to sellers would be to get your home on the market as quickly as possible. The longer you wait the more competition you will have as a seller. The further we get into Spring the more listings we have. Beat the competition by getting your home on the market first. Chances are if ...
Thursday, April 25, 2019 / by Connie Tracy
Before putting a home on the market or listing it with a real estate agent, home sellers should get a comparative market analysis, also known as a CMA. This is a free report to tell you how much your home is worth. But before you obtain the CMA, the agent should really come to your house and do a quick walkthrough to see what condition your home is in and any upgrades you may have done. Besides, we want to see what you love so much about your home and find out your long range goals.
The CMA is a report that is put together by looking at a variety of criteria in order to price your home at a fair market value. These reports vary for a two-page list of comparative sales to a 50-page comprehensive guide. Whether it is the 2 page or the 50 page report, it should include the following:
Active Listings: These are homes currently for sale. These listings matter only to the extent that they are your competition for buyers. These homes are not a representation of market value since ...
Saturday, April 6, 2019 / by Sara Koenig
In a market like we are seeing here in Spokane, the risk of having an appraisal come in low is a real conversation you should be sure to have with your listing broker.
This is typically the third big point of negotiation in a Real estate transaction following the offer and then the home inspection. A low appraisal could be a potentially serious bump in the road when you are near the finish line. There are ways that your broker can protect you against this as a seller in our market and if your home is likely going to receive multiple offers you should talk this through as you get ready to review each offer.
In our current Spokane market if you are listing your home below the $250,000 price point the likely event you will receive multiple offers is pretty high. There are a lot of buyer's that are searching within these price points and there is the lowest amount of inventory available in these price points as well, making for an extremely competitive situatio ...