Real Estate Information Archive

Blog

Displaying blog entries 1-10 of 11

The Everything Guide to Buying Your First Home

by The Schnoor Team

 

How to find exactly what you want, and how to work with the experts who’ll help you get it.

So you’re thinking about buying your first home. Your very own house (and mortgage). A place to call — and make — your own.

It’s a big move, literally and figuratively. Buying a house requires a serious amount of money and time. The journey isn’t always easy. It isn’t always intuitive. But when you get

the keys to your new home — that, friend, can be one of the most rewarding feelings pretty much ever. 

The key to getting there? Knowing the home-buying journey. Knowing what tools are at your disposal. And most importantly? Creating relationships with experts who can help you get the job done.

That’s where this guide comes in. We’ll show you not only the major steps you’ll take during the home-buying process, but also explain the relationships and experts you’ll need along the way. We’ve even made a handy infographic that outlines the home-buying process from start to finish. 

You ready to live the dream? Here we go. 

Do Your Homework

Oh sure, everybody wants to jump right into open houses. But before you even set foot into a foyer, you should identify your list of “musts” and “wants.” This list is an inventory of priorities for your search. And there’s so much to decide: Price, housing type, neighborhood, and school district — just to name a few.

To get yourself grounded, we recommend filling out this brief worksheet.

If you’re planning to buy a home with a partner (in life or in real estate), fill the worksheet out with them. You want to be on the same page while buying a house. If you’re not, you’ll be less able to give agents or lenders the information they need to help you. And you risk wasting time viewing homes you can’t afford — or don’t even want in the first place.

Start Shopping

Once you know what you’re looking for, the next step is to start looking at listings and housing information online. (This part? You’re going to crush it.)

Find a Great AgentYour relationship with your real estate agent is the foundation of the home-buying process. (And your agent = your rock.) He or she is the first expert you’ll meet on your journey, and the one you’ll rely on most. That’s why it’s important to interview agents and find the agent who’s right for your specific needs.

Choose a Lender

Once you’ve found your agent (AKA, your new best friend), ask him or her to recommend at least three mortgage lenders that meet your financial needs. This is another big step, as you’ll be working with your lender closely throughout the home-buying process.


Pick a Loan (It’s Not So Bad)

Once you’ve decided on a lender (or mortgage broker), you’ll work with your loan agent to determine which mortgage is right for you. You’ll consider the percentage of your income you want to spend on your new house, and you’ll provide the lender with paperwork showing proof of income, employment status, and other important financials. If all goes well (fingers crossed) you’ll be pre-approved for a loan at a certain amount. (Sweet.)

Visit Open Houses, and Look Around

Now that you have both an agent who knows your housing preferences and a budget — and a lender to finance a house within that budget — it’s time to get serious about viewing homes. Your agent will provide listings you may like based on your parameters (price range, ZIP codes, features), and will also help you determine the quality of listings you find online. Then comes the fun part: Open houses and private showings, which give you the unique opportunity to evaluate properties in a way you can’t online.

Make an Offer

Once you find the home you want to buy, you’ll work with your agent to craft an offerthat not only specifies the price you’re willing to pay but also the proposed settlement date and contingencies — other conditions that must be agreed upon by both parties, such as giving you the ability to do a home inspection and request repairs.

Negotiate, Negotiate, Negotiate

Making an offer can feel like an emotional precipice, almost like asking someone out on a date. Do they like me? Am I good enough? Will they say yes? It’s stressful! Some home sellers simply accept the best offer they receive, but many sellers make a counteroffer. If that happens, it’s up to you to decide whether you want your agent to negotiate with the seller or walk away. This is an area where your agent can provide real value by using their expert negotiating skills to haggle on your behalf and nab you the best deal.

Get the Place Inspected

If your offer is accepted, then you’ll sign a contract. Most sales contracts include a home inspection contingency, which means you’ll hire a licensed or certified home inspector to inspect the home for needed repairs, and then ask the seller to have those repairs made. This mitigates your risk of buying a house that has major issues lurking beneath the surface, like mold or cracks in the foundation. (No one wants that.) Here’s what to expect.

Ace the Appraisal

When you offer to buy a home, your lender will need to have the home appraised to make sure the property value is enough to cover the mortgage. If the home appraises close to the agreed-upon purchase price, you’re one step closer to settlement — but a low appraisal can add a wrinkle. Not one you can’t deal with. Here’s how to prepare.

Close the Deal

The last stage of the home-buying process is settlement, or closing. This is when you sign the final ownership and insurance paperwork and make this whole thing official. There’s some prep work you have to take care of first.

When it’s all said and done — break out the rosé. You’ll have the keys to your new home!

Source: https://www.houselogic.com/buy/how-to-buy-step-by-step/home-buying-steps/?site_ref=mosaic

HOUSELOGIC

helps consumers make smart, confident decisions about all aspects of home ownership. Made possible by REALTORS®, the site helps owners get the most value and enjoyment from their existing home and helps buyers and sellers make the best deal possible. 

How to Spring Clean If You’d Rather Play With Your Kids Instead

by The Schnoor Team

 

The key is to focus on the things your kids touch. Oh, and throw a party.

Ah, the guilt of parenthood: Your kiddos deserve real QT, but also a clean home.

Since there are only so many hours in a day, this spring cleaning plan hits the hot spots that tiny ones tend to find, so your fam can get back to the fun in a clean (if chaotic) space.

Clean Soft Surfaces

Kids are all over carpets, couch cushions, pillows, and duvets, and somehow even curtains (is that … peanut butter?).

These dirt-collecting materials need a deep-cleaning to get rid of allergy-causing dust, food particles, and all the general eww that little hands smear around.

Wash throws, pillow covers, and (most) pillows in the washer. Use a steam cleaner (or hire a pro) for carpet and upholstery. Some curtains may require dry cleaning (always a good idea to check the tag to see what the manufacturer recommends).

Then notice how your whole home feels and smells infinitely cleaner.

Involve Kids in a Purge Party

Kids can accumulate a staggering amount of toys and doodads. Help them sort through what they can donate: They’ll learn the value of decluttering, helping others, and taking care of a house. Also: less stuff.

“The benefit for parents is that they can spend more quality time with their children because they aren’t spending all of their time cleaning and organizing,” says Alyssa Trosclair, a professional organizer with Centsibly Organized.

Hit the Undersides of Tables, Counters

Wipe off the bottoms of high-chair trays, the dining table, and the underside of countertops ledges, where sticky stuff often festers, missed during daily wipe-downs — but easily accessible to tiny hands.

While you’re at it, pull apart any tables with leaves and wipe down the cracks. You may find enough crumbs to make the grossest loaf of bread ever.

Clean Low-Lying Surfaces

The track of a sliding door is a sterile place to stash your pacifier, right? Little ones sure think so.

Cleaning door thresholds, baseboards, as well as the lower portions of doors, walls, and furniture is important when you’ve got crawling and toddling hands in the household. Oh, and don’t forget the floor registers.

Do a Size Check on Winter Clothing

Puffy coats, wool hats, scarves, gloves, and ginormous snow suits practically need their own house. And that’s not counting those 2-inch-thick sweaters. Purge the items you know won’t fit a fast-growing child next year, and clean the rest.

Because when the first big snowfall hits, kids won’t want to wait while you wash their crusty hat from last season.

Don't Forget Door Knobs, Light Switches, Etc.

Light switches, door knobs, cabinet handles, and remotes are some of the germiest places in your house. Cleaning them might be the most consequential to-do on your spring cleaning list.

Source: https://www.houselogic.com/organize-maintain/cleaning-decluttering/cleaning-with-kids-in-the-house/?site_ref=mosaic

AMY HOWELL HIRT

has written about home design for 13 years. Her work has been published by outlets including “The Home Depot,” “USA Today,” and Yahoo! Homes. She previously served as home and garden writer and columnist for “The Cincinnati Enquirer.”

 

3 Ladera Rd - Santa Fe, NM

by The Schnoor Team

 

Beautiful Kim Dressel custom home! Large single story on 1.75 acres. Lovely front courtyard entrance with brick walkway leading to the front portal with exposed beams & vigas. At the foyer you'll begin to see the fine detail of this home. Saltillo flooring, art niches, exposed beams & vigas throughout. 3 amazing fireplaces for cozy comfort. The great room offers superb sunsets and boasts a huge custom fireplace with hand carved mantel. The kitchen is large with lovely tile counter tops, big island, loads of cabinets another fireplace in the nook, stainless steel appliances, and a built in desk. Imagine cooking and entertaining here! 10 skylights for natural light. The owner's suite is private and has another beautiful kiva fireplace, full bath and large walk in closet. 3 more bedrooms on the other side. The home sits back nicely from the road and offers a monument entrance and nice curved driveway. The south and west portals are all brick with more exposed beams and vigas. Enjoy the views! Radiant heat and split mini systems for your comfort.

10 Westwind Rd, Santa Fe, NM

by The Schnoor Team

Stunning single story 5 bedroom 3 bath home immaculately maintained. Amazing mountain and sunset views from professionally landscaped yard. Privacy abounds, situated on the end of cul-de-sac with no neighbors to the West. Upon entry, you'll notice the high ceilings, large vigas and beautiful flooring. This versatile open floor plan offers 2 living areas and a formal dining room. The kitchen is large with ample cabinets, cozy breakfast nook and is open to the family room. The owner's suite is private with access to the portal. Owner's bath includes a separate tub and shower, huge closet with professional closet system. beyond the living areas are 4 more bedrooms and 2 baths. One is a true suite with an on-suite full bath. Great for guests, teen area or mother-in-law quarters. You'll want to spend lots of time enjoying the outdoor area. So lovely and private with both covered and uncovered areas boasting thick flagstone. Views of the Jemez mountains and incredible Santa Fe sunsets! Newer roof and stucco, radiant heat and fireplace. Partake in the walking/biking trails right outside your door!

Contact us today for details!

Student Loan Debt Delays Homeownership 7 Years

by The Schnoor Team

Side gigs or roomies can help shave years off your debt. Lenders like that.

There’s finally proof to what we’ve all long suspected — that student loan debt is delaying first-time home ownership. In fact, a recent study from the NATIONAL ASSOCIATION OF REALTORS® and the nonprofit American Student Assistance, reveals that this debt can delay home ownership for 7 years (or more).

Perhaps even more concerning is that more than 50% of respondents are paying off over $40,000 in balances, with some owing more than they earn in a year.

So, how can first-time homebuyers break into the market against such tough circumstances? There’s really only one answer: prioritizing student loan repayment above everything else. Not only will repaying balances save money on interest and allow buyers to save more, but paying off debt also lowers debt-to-income ratio (probably, the No. 1 metric lenders use to determine how much you’ll qualify for).

Below are a handful of ways to earn more so you can owe less:

Earn Money on the Side

In the current “gig economy,” there’s no end to the ways people can earn extra money. The options are varied and (seemingly) endless: from driving for a ride-sharing service, to shopping for personal groceries, to freelance writing or taking surveys online, to opening up your own online store.
And even if it’s a small amount each month, an extra $100 or $200 a month can make a big difference when it comes to student loan repayment.

Using this extra-payment calculator we can see the math. If someone owes $35,000 in student loans at 5% interest, adding $200 each month to the existing $383 standard payment shaves 3.8 years off the life of the loan while saving $3,781 in interest. 

Maximize Earnings at a Full-Time Job

Focusing on ways to earn more in your 9-to-5 job can profoundly impact your finances. Consider researching comparable pay for your role at other companies, list your accomplishments, and don’t be afraid to have a sit down with your manager to ask for more money. Increasing your monthly take-home amount ups the amount you can save or use toward debt repayment, so it’s important to try and maximize take-home earnings when possible.

More math: Say someone makes $40,000 annually and receives a 5% raise, or $2,000 annually. Broken out each month, this is $166 (before taxes). Using the same numbers above, adding $166 to a monthly payment saves 3.4 years on the life of the loan.

Put Any Windfall Cash Toward Student Loan Debt

Receive a bonus at work? Large cash gift from a relative? Tax refund? This money could be put to great use paying off student loan debt. And while it may be hard not to spend it on something nice for yourself, make sure you stay within bounds and put the rest to your outstanding balances.

For example, let’s say you work hard and receive a $2,000 annual bonus at work. You resist the temptation to spend this money, and instead make a lump-sum payment toward your student loans. Even if you don’t pay anything else toward the loan on a monthly basis, this one-time payment shaves 8 months off the debt repayment timeline on a $35,000 student loan at 5% interest. Imagine if you did this every time you received unexpected extra cash.

Consider Refinancing/Consolidation If You Qualify

Refinancing and debt consolidation may intimidate those who aren’t educated on what these terms mean, but those with money savvy know these can be strong tools to add to your debt pay off tool belt.

Consolidation is combining multiple loans into one at a new interest rate. Consolidation may nab borrowers a lower monthly payment, or lock in a fixed rate if they’ve been in a variable rate loan, but may net a longer repayment term. Consolidation is available for both private and federal student loans. 

If the government consolidates your federal loans, they’ll give you a new interest rate that is a weighted average of all the interest rates of all the loans you’re trying to consolidate. During a private loan consolidation, a lender will look at your credit score and give you a brand new interest rate. 

Refinancing is using one loan (at a lower interest rate) to pay off multiple student loans, but it is only offered by private lenders. By applying for a new loan to pay off the others, you’ll get a lower monthly payment, lower interest rate, and have only one payment to worry about.  But, with private refinancing, you forgo federal benefits like repayment plans based on income and loan forgiveness. Weigh the pros and cons of each option before choosing the one that’s right for you.

Both of these are available to borrowers if they have good credit. Plus, they can offer significant financial benefits. For example, by refinancing a $35,000 student loan from 7.6%  o 4.45% interest, borrowers can free up an additional $55 in their budget to save for a home down payment.

Using the steps above, student loan borrowers can make home ownership a reality, provided they’re willing to sacrifice and play it money smart for a few years.

Source: https://www.houselogic.com/finances-taxes/financing/student-loan-repayment-strategies/

LAUREN BOWLING
is the award-winning blogger and editor behind personal finance site “Financial Best Life” and author of “The Millennial Homeowner: A Guide to Successfully Navigating Your First Home Purchase.” She’s contributed to such financial sites as “CNNMoney” and “Forbes.”

5 Doable DIY Projects To Send Your Home Equity Soaring

by The Schnoor Team

5 Doable DIY Projects To Send Your Home Equity Soaring

 

A new front door has the highest ROI, not to mention the boost in curb appeal.

 

You’re going to save money with DIY home improvement projects. Sure, everybody knows that.

 

But did you know how much? Cut professionals out of the equation and you can save half the cost of a project — or more. 

 

What’s more, you get a great return on your investment. Meaning, the financial value you get out of a DIY project is much more than what you put in.

 

Here’s a rundown of some top money-saving projects, using cost and recovered costs data from the “Remodeling Impact Report” from the NATIONAL ASSOCIATION OF REALTORS®.

 

#1 New Steel Front Door

 

Few replacement projects have as much upside as a new steel entry door. Not only will you recover about 75% of the cost of having an entry door professionally installed, but you’ll spruce up your curb appeal big time. Want proof? Ninety-six percent of homeowners responding to the “Remodeling Impact Report” say they are happy or satisfied with their new front door.  

 

Of course, you’ll save even more if you tackle this project yourself. Know your door parts (jambs, threshold, stops) before digging in. You’ll be putting in a pre-hung door that includes jambs, so the old stuff has to come out. If you can, preserve the old casing (trim) that goes around the door. Otherwise, plan to buy new casing.

 

This is a good one to have a friend or spouse lend a hand. It’ll take six to eight hours if it’s your first time. Remember the three-legged mantra of door installation: Plumb, level, square.

 

#2 New Garage Door

 

Tired of looking at that big blank billboard every time you pull into your driveway? Change out your old garage door for a spiffy new steel model and the whole neighborhood will thank you. Save some cash by keeping the same motorized 

 

A steel garage door comes in four panels that are relatively lightweight but awkward — get a friend to lend a hand and you’ll have this project done in a day. Then stand back and admire along with 95% of homeowners in the “Remodeling Impact Report” who said they were happy or satisfied with their new garage door. 

 

 

#3 New Vinyl Windows

 

If you want to replace four or more windows, or a second-story window, then hire the work out. Being up on a ladder with an object as bulky as a window is no place for a non-professional. Pros bring scaffolding, which takes time to set up but ultimately makes the work faster and safer.

Replacing one, two, or maybe three first-story windows is a good DIY job. Anything more and the pros will get the job done with better efficiency in terms of time and hassle.

 

If you’ve measured your rough opening correctly and bought the right window, then one window should take you three to four hours. You’ll get faster with subsequent windows.

 

#4 New Wood Flooring

 

Few projects are as satisfying, while recovering such a high percentage of your investment, as new wood flooring. According to the “Remodeling Impact Report,” 96% of homeowners were happy or satisfied with their professionally installed hardwood floors. Combine that with a 91% return on your investment, and you’ll likely be a very happy homeowner.

For the DIYer, installing hardwood flooring is a bit labor intensive, but the techniques are fairly easy to master. Once you get the hang of it, installing prefinished hardwood flooring should go smoothly.

 

#5 Insulation Upgrade

 

OK, maybe it’s not the sexiest project. After all, it’s tucked out of sight in your attic. But you can feel it with increased comfort, and see the savings on your energy bill. Those are big pluses. 

Upgrading an under-insulated attic space can save you up to 50% per year in energy costs. With a pro cost of $2,100, it’ll take at least a couple of years to pay off your investment with savings. Do it yourself, however, and you’ll only spend about $700 for enough 10-inch-thick fiberglass batt insulation to cover a 20-foot-by-40-foot attic space. You’ll pocket the savings much sooner. 

 

It’s also an awkward project, it can be messy, and you’ll need to bundle up behind protective clothing. However, insulating your attic is a low-skill project that most DIYers can pull off. Just be sure not to stick your foot through the drywall under the attic floor joists!

 

Source: https://www.houselogic.com/save-money-add-value/money-saving-diy/diy-how-much-do-you-save/?site_ref=mosaic

 

JOHN RIHA

 

has written seven books on home improvement and hundreds of articles on home-related topics. He’s been a residential builder, the editorial director of the Black & Decker Home Improvement Library, and the executive editor of Better Homes and Gardens magazine.

 

How First-Timers Can Cope with Rising Home Prices

by The Schnoor Team

 

A fixer-upper with the right things wrong could spell instant equity for you.

 

 

In a sign of a robust housing market, existing-home prices are expected to rise 5.8% in 2017 over 2016, according to the NATIONAL ASSOCIATION OF REALTORS®. But rising prices, record-high levels of student loan debt, and stagnant wages make it more difficult for first-time buyers to save up what’s needed for a down payment.

 

 

Consider Nearby or Adjacent ZIP Codes

The old adage in real estate is “location, location, location,” but often the location is the very thing that makes certain ZIP codes so pricey. When looking into a desirable area, consider the nearby or adjacent neighborhoods to scout for more affordable finds. The good news is that if your house is near a pricer area, home prices are expected to remain strong or even rise as demand for the area increases.

 

 

Purchase a Foreclosure or Fixer-Upper

After my own disaster of a renovation, I know better than to think home makeover projects are as easy as they look on HGTV. Still, purchasing a foreclosure or home that needs a little work is a smart move if you want to buy into a more expensive neighborhood and stay in your price range. 

 

Fast Equity Can Help You Trade Up

A fixer-upper can earn “instant” equity, especially with these three projects: a new roof, refinishing hardwood floors (or adding new hardwood floors), and insulation.

Fixer-uppers  can yield significant discounts in major urban areas — as much as 40% to 50%, according to research conducted by realtor.com, but inventory may be low, and the competition may be fierce. 

 

 

Consider a Roommate

If you can afford a home but are concerned about what the monthly payment will do to your lifestyle (and budget) consider renting out rooms in your house to a long-term roommate or on housing-share apps. 

This way, your housing payment gets covered and any extra can go toward paying down the mortgage, paying off student loans, or maintaining your lifestyle.

 

Try a Starter Home Before Thinking of a Forever Home

Think about what you really need in a first-home purchase as opposed to what you fantasize about having. With so many first-time buyers now delaying home ownership until their early 30’s (when a family and kids comes along), many skip the notion of the starter home and leap right into the forever home - often at a cost.

Starting small allows buyers to start putting housing payments into equity, not rent. Should property values rise, after a few years a buyer would then be able to upgrade into something bigger or more practical for their lifestyle.

Also keep in mind that just because you qualify for a loan amount, it doesn’t mean you have to borrow the maximum. When shopping for homes, be sure to find something that sits comfortably in your budget once you factor in insurance, taxes, and home maintenance — and even discretionary funds.

While these tips may not land a first-time buyer in their ideal neighborhood straight away, equity (the amount of your house that you “own”)  builds over time and works in favor of the buyer. Remember: With time and patience, many may be able to cash in on the equity in their first home and move into their ideal square footage or location. 

 

 

Source: https://www.houselogic.com/buy/first-time-home-buyer/home-price-trends/

 

is the award-winning blogger and editor behind personal finance site “Financial Best Life” and author of “The Millennial Homeowner: A Guide to Successfully Navigating Your First Home Purchase.” She’s contributed to such financial sites as “CNNMoney” and “Forbes.”

 

 

 

 

30 Verano Loop, Santa Fe, NM - The Schnoor Team

by The Schnoor Team

30 Verano Loop, Santa Fe, NM

See full details here: goo.gl/9mmHHe

Beautiful remodel! Entire interior updated while the exposed beams keep the original charm. Stunning kitchen boasts new cabinets with self closing doors, beautiful hardware, new stainless steel appliances, fixtures, gas range with stainless steel exhaust. New bamboo flooring throughout. All new bathrooms with custom tile, cabinets and fixtures. New windows, stucco and a new tank-less boiler/water heater. All on 1.46 acres with an awesome view of the mountains from the huge covered patio in back. A large 2 car garage too! A must see!

Do You Suffer From Buyers Remorse?

by The Schnoor Team

Have you ever bought a new car and the next day started to question whether or not you made the right decision? Have you ever bought a new, expensive TV only to find great deals in the paper the next day?

It happens to many homeowners too. You find the right home, go through the process, sign the closing paper, get your keys, and you're finally a homeowner! How exciting. But later that day, some troubling questions creep into your mind: Did I make the right decision? What if I paid too much? What if a better house for me is out there and I'll never know it?

Buyer's remorse is a common, and unsettling, feeling for new home buyers. Your home is likely the most expensive purchase you'll ever make, so it makes sense if you start to wonder whether you made the right choice. But if the feeling is getting you down, follow these dos and don'ts to manage your mindset.

Do revisit your home wish list. Whether you wrote a short list detailing every dream you have ever had in a home, or you just had a few ideas stored in your head, you had a specific home in mind while you were house hunting. If you're feeling regretful about your purchase, compare your initial home wish list to the home you bought. Does it have all or most of the features you wanted? If so, your buyer's remorse is likely a fleeting feeling that will subside once you start getting settled in. If your home is different from your list, remind yourself why you made those compromises.

Don't look at other houses. It's tempting to continue perusing real estate listings or slowing down every time you drive by a "For Sale" sign, but please refrain. Looking at other houses is bound to make you wonder what you missed out on. Instead, focus on the features you love about your new home.

Do start decorating. If your new house is still empty, it might not feel like "home" to you yet. So start making it your own. Paint the walls, display your favorite artwork and hang stylish window treatments.

Don't let others bring you down. While some people in your life will be eager to celebrate your new home, others might not be so enthusiastic. Let's face it: We all have those people in our lives that can take the excitement out of even our happiest moments. If they start to criticize your home's location, the crown molding or the price you paid for it, don't let them get to you. Instead, surround yourself with positive people who will reinforce your decision.

Do take a break. From the time you start searching for a home online to the moment you sign your closing papers, the home-buying process can feel like it's taken over your life. If your normal routines were disrupted by house hunting
and loan applications, take a break and get back on track. Whether you went for nightly walks or read to the kids before bed, start getting back into your pre-home-purchase habits to subdue your stress. You may even want to take a weekend getaway to clear your head. When you get back, you'll be ready to start moving in!


Your Real Estate Appraisal & You

by The Schnoor Team

A few years ago we were working with a family that needed to move sooner than later. We worked closely together to come up with the right price for their home so that it would sell fast and still get them maximum value.

It worked. Just a week after their home went on the market we had a good offer. A day or so after, we had an agreement. We were all very happy until the appraisal came in. The appraisal had the home valued at about $20,000 less than the agreement.

Since the sellers were happy to reduce the price to get the sale done, that's almost what they did. However, after close inspection they had questions, and we suggested that they can get a second opinion. It turns out that there were significant differences in what each appraiser thought was a comparable home. The second appraisal came in fine and the buyers, sellers and bank all agreed on the original price.

Here are a few things to know about appraisals:

Appraisals are not an exact science

It's important to know exactly what an appraisal is and isn't. It isn't exact and there is always room for error. When comparing your home with other sales, one appraiser may count a certain home while another may think the sale was too old, too different, or too far way. This can result in different appraisals.

Appraisals are snapshots

As the market changes, so will the value of your home. This shift can take place at any time.

Appraisals are different than CMAs

Realtors use their professional experience to give you a comparable market analysis. A CMA gives you
an idea of how much your home will sell for in a specific period of time.

You can ask for a second opinion

This may be the most important thing. If my sellers hadn't asked for a second opinion it would have cost them about $20,000. Just because one appraiser used different homes to compare their home with than the other appraiser did.

If you are going to refinance or sell you home, you will be asked for an appraisal. Work with a professional Realtor to be sure that everything is done accurately.

Displaying blog entries 1-10 of 11

©2017 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Information is deemed to be reliable, but is not guaranteed. This is not a solicitation if you are currently working with a real estate broker. Equal Housing Opportunity