Whether you are selling your home or refinancing, you'll probably getting a call from an appraiser. Their job is to determine the fair market value of your home based on guidelines set out by the Federal National Mortgage Association. This is not the same as a competitive market analysis that many real estate brokers perform, sometimes referred to as "comps". The professional appraiser does an in depth analysis of you home's condition, additional features as compared to other similar homes, and location.
They start by looking at you neighborhood and find comparable homes that may have sold recently, characteristics of lifestyles, income level in the area, average age, and surrounding home values. So if you home has 4 bedrooms, 3 bathrooms, and a 2 car garage on a half acre of land, they will try to find a similar home in a nearby neighborhood. Sometimes they will extend their search and compare homes within the same school district when it is a known factor that affects the value of a home.
Once they find comparable properties, they will make some adjustments. Sometimes they will add value to your home based on the landscaping, external features such as a fenced back yard, or maybe there is view of the ocean. Numerous items may be added or subtracted from your home's value. Living space, numbers of rooms, sales in the last 120 days, usable land, and many other factors are considered. Rest assured it is not an entirely subjective process, but rather methodical and universal.
They don't consider your choice of wallpaper and curtains. They don't care if there are 200 toys laying in the family room or that you didn't make you bed. Of course it doesn't hurt to tidy up a bit, but it's not really a factor in determining the appraised value of your home. They are there to measure boundaries, going to each level in your home and looking in all the rooms, and taking more measurements. A few pictures are taken only for the appraiser's folder which will go in a file.
Normally, if you are buying a home or refinancing, you can let the lender know if you prefer a particular appraiser or company. You can ask any real estate broker if they can recommend someone to you as well. A qualified appraiser is licensed by the state and will cost from $150 to $500 or more depending on the size of the home.
If you are selling your home, the buyer normally pays for this. However, it wouldn't be a bad idea to get an inexpensive online appraisal. You can find one of the better instant online appraisal companies at Online Home Appraisals.
About Author:
Robert Rogers is a writer in the Washington DC area. Online Home Appraisals Visit http://homeappraisel.com for more articles on home appraisals.
Sunday, January 29, 2006
Monday, January 23, 2006
Tips on Finding a Trustworthy Realtor
When buying a new home, chances are very good that you are going to choose a realtor to help you with your home buying needs. With many realtors out there, finding one you can trust may seem to be a daunting task. Especially if you've never hired a realtor before, or if you've ever had one whom you couldn't trust, choosing a good realtor may be extremely difficult, if next to impossible, to accomplish. So how do you find one whom you can trust, and one who will simplify your home buying experience? Here are a few tips to help you find the right realtor.
Conduct Interviews
It's not enough to open the yellow pages and scan the listings of realtors there. Ideally, going to the realtor's office is the best option, but you may not have the time to do this. Chances are there will be too many realtors for you to go visit, so you may choose to conduct an interview on the phone. Be prepared with a list of questions to ask, and expect frank and honest answers. It won't take long for you to find out during the conversation whether the realtor is honest, or if they are simply a salesperson who evades your questions by giving you pat answers, or fluff.
Ask for References
A good realtor will be happy to give you the names of satisfied customers, in order to back up how trustworthy they will be for you. Sometimes, many people will find realtors on word of mouth alone. Happy customers will be delighted to talk to you about your potential realtor, and many times, this will arm you with the best information about the realtor you are considering.
Talk to the Broker
In some cases, talking opening with the broker about your realtor's performance may give you clues as to how trustworthy your realtor might be. This may not always give you the best information, as the broker certainly wants your business in the same way the realtor does, but a broker who is willing to talk with you as a potential client may help you determine whether the company the realtor works for will be behind you all the way.
Look for Communication Skills
There is nothing more frustrating than a realtor who does not listen to your needs. If you tell the realtor that your maximum price you would pay for a home is $200,000, and the realtor continually shows you homes outside of your price range, chances are very good that your realtor isn't concerned about your needs or what you can actually afford, but is more interested in how much commission they may earn off of your business with them. A realtor should remember how many children you have, and how many bedrooms you need, for example; and if you need an office, show you homes with ideal office space; if you have a dog, then the realtor should remember to find homes for you with a fenced in back yard, for instance. You should never have to continually remind your realtor what your needs are; if you are constantly reiterating your needs, then it could be indicative of your realtor either having too many clients, or not really interested in what your needs really are.
Express Your Needs
A realtor isn't a mind reader, and it really is up to you to make sure your realtor knows exactly what you are looking for. If you are not sure what you are looking for, then it is in your best interest to find a realtor truly interested in narrowing down what you want. Ask questions. If you don't know whether a school district in a particular area is a good one, for example, and you don't have children, then it is the realtor's job to help you understand that even though you might not be concerned about schools right now, there is a possibility in the future that it will be an issue. And while you cannot expect your realtor to read your mind, a good, trustworthy realtor can still anticipate your needs.
Above and Beyond the Call of Duty
Some realtors only perform the minimum tasks in order to help you find a home. A good, trustworthy realtor will go above and beyond the minimal duties. Do you need help finding a loan officer? Will your realtor locate one for you? Will your realtor be present at closing time in case you have any last minute questions? Will your realtor hand-deliver the title to the court on the same day you close? Will your realtor investigate any issues you may have with the home you want to purchase, like will real-estate taxes be included in your price, or will the appliances be included in the home purchase, or is the seller going to provide a home warranty? Some things may not occur to you now as a home buyer, but it should be in your realtor's best interest to make sure they investigate any possible issues that may come up during the course of the negotiations.
The key to finding a trustworthy realtor is to ask questions, no matter how silly they might be to you. They should be familiar with school districts, utility company policies, which cable company is available to you, and other things that are not necessarily part of your home purchase, but it is these little things that make a realtor extraordinary, and one that you can trust to help you find the perfect home.
About the Author
About the Author: G Beaty is a homebuilder and real estate broker for over 25 years. For free information on new home construction visit a Palm Coast Real Estate at: http://www.favoriteproperties.com
Conduct Interviews
It's not enough to open the yellow pages and scan the listings of realtors there. Ideally, going to the realtor's office is the best option, but you may not have the time to do this. Chances are there will be too many realtors for you to go visit, so you may choose to conduct an interview on the phone. Be prepared with a list of questions to ask, and expect frank and honest answers. It won't take long for you to find out during the conversation whether the realtor is honest, or if they are simply a salesperson who evades your questions by giving you pat answers, or fluff.
Ask for References
A good realtor will be happy to give you the names of satisfied customers, in order to back up how trustworthy they will be for you. Sometimes, many people will find realtors on word of mouth alone. Happy customers will be delighted to talk to you about your potential realtor, and many times, this will arm you with the best information about the realtor you are considering.
Talk to the Broker
In some cases, talking opening with the broker about your realtor's performance may give you clues as to how trustworthy your realtor might be. This may not always give you the best information, as the broker certainly wants your business in the same way the realtor does, but a broker who is willing to talk with you as a potential client may help you determine whether the company the realtor works for will be behind you all the way.
Look for Communication Skills
There is nothing more frustrating than a realtor who does not listen to your needs. If you tell the realtor that your maximum price you would pay for a home is $200,000, and the realtor continually shows you homes outside of your price range, chances are very good that your realtor isn't concerned about your needs or what you can actually afford, but is more interested in how much commission they may earn off of your business with them. A realtor should remember how many children you have, and how many bedrooms you need, for example; and if you need an office, show you homes with ideal office space; if you have a dog, then the realtor should remember to find homes for you with a fenced in back yard, for instance. You should never have to continually remind your realtor what your needs are; if you are constantly reiterating your needs, then it could be indicative of your realtor either having too many clients, or not really interested in what your needs really are.
Express Your Needs
A realtor isn't a mind reader, and it really is up to you to make sure your realtor knows exactly what you are looking for. If you are not sure what you are looking for, then it is in your best interest to find a realtor truly interested in narrowing down what you want. Ask questions. If you don't know whether a school district in a particular area is a good one, for example, and you don't have children, then it is the realtor's job to help you understand that even though you might not be concerned about schools right now, there is a possibility in the future that it will be an issue. And while you cannot expect your realtor to read your mind, a good, trustworthy realtor can still anticipate your needs.
Above and Beyond the Call of Duty
Some realtors only perform the minimum tasks in order to help you find a home. A good, trustworthy realtor will go above and beyond the minimal duties. Do you need help finding a loan officer? Will your realtor locate one for you? Will your realtor be present at closing time in case you have any last minute questions? Will your realtor hand-deliver the title to the court on the same day you close? Will your realtor investigate any issues you may have with the home you want to purchase, like will real-estate taxes be included in your price, or will the appliances be included in the home purchase, or is the seller going to provide a home warranty? Some things may not occur to you now as a home buyer, but it should be in your realtor's best interest to make sure they investigate any possible issues that may come up during the course of the negotiations.
The key to finding a trustworthy realtor is to ask questions, no matter how silly they might be to you. They should be familiar with school districts, utility company policies, which cable company is available to you, and other things that are not necessarily part of your home purchase, but it is these little things that make a realtor extraordinary, and one that you can trust to help you find the perfect home.
About the Author
About the Author: G Beaty is a homebuilder and real estate broker for over 25 years. For free information on new home construction visit a Palm Coast Real Estate at: http://www.favoriteproperties.com
3 Tips to Staging the Outside of Your Home Like a Pro
Are you considering putting your house up for sale, but not sure where to start? Afraid it will take too long to sell, or that you won't get the price you want? Think about "staging" your home, or in other words, setting the scene for immediate buyer interest in your property.
To be really effective, you need to look at both the outside and the inside of your home. Here are 3 tips to get you started with the outside of your home:
1. Go stand on the street to see what clients see when driving up to the house. Be aware that any negative impressions they get outside the house (landscaping not maintained or non-existent, peeling paint, etc.) is just going to make them think that the house itself has not been well taken care of. So even if you have spent the time and money to fix up the interior, it would all be wasted if the clients get a bad first impression as they drive up to the house.
2. Next, step outside your front door and close the door; then stand on the stoop and look around for 5 minutes. While the realtor fumbles for keys and tries to figure out how to open the door, the clients are standing behind and looking around. So what are they seeing? Dead plants, old Halloween decorations in the middle of January, cobwebs? Again, not a good first impression!
It's definitely worth it to take some time and clean it up. Want to go a step further? Try a new coat of paint or some new furniture or accessories.
3. Don't forget the backyard. While that might not be part of the potential buyers' first impression experience, you still should make sure it's in the best condition possible. Pull up weeds, water plants, do some sweeping (if that's applicable in your case) and maybe even purchase new furniture or accessories (plant pots, bird houses, etc.)
And the biggest tip of all? Imagine yourself as a potential buyer looking at your property for the very first time. What impressions are you getting? Would YOU buy your house? What would you like to see changed before you put an offer on your house?
And don't worry about spending several thousand dollars to get your house ready to sell - you'll get it all back when your house sells. Proper staging helps you sell your house in a shorter time and at the price you want.
About the Author
~~~ Kathleen Yamauchi is a long-time realtor located in Prescott, Arizona. For more free tips and resources on buying and selling your home and other real estate advice, visit her web site at http://www.kathleeny.com.
To be really effective, you need to look at both the outside and the inside of your home. Here are 3 tips to get you started with the outside of your home:
1. Go stand on the street to see what clients see when driving up to the house. Be aware that any negative impressions they get outside the house (landscaping not maintained or non-existent, peeling paint, etc.) is just going to make them think that the house itself has not been well taken care of. So even if you have spent the time and money to fix up the interior, it would all be wasted if the clients get a bad first impression as they drive up to the house.
2. Next, step outside your front door and close the door; then stand on the stoop and look around for 5 minutes. While the realtor fumbles for keys and tries to figure out how to open the door, the clients are standing behind and looking around. So what are they seeing? Dead plants, old Halloween decorations in the middle of January, cobwebs? Again, not a good first impression!
It's definitely worth it to take some time and clean it up. Want to go a step further? Try a new coat of paint or some new furniture or accessories.
3. Don't forget the backyard. While that might not be part of the potential buyers' first impression experience, you still should make sure it's in the best condition possible. Pull up weeds, water plants, do some sweeping (if that's applicable in your case) and maybe even purchase new furniture or accessories (plant pots, bird houses, etc.)
And the biggest tip of all? Imagine yourself as a potential buyer looking at your property for the very first time. What impressions are you getting? Would YOU buy your house? What would you like to see changed before you put an offer on your house?
And don't worry about spending several thousand dollars to get your house ready to sell - you'll get it all back when your house sells. Proper staging helps you sell your house in a shorter time and at the price you want.
About the Author
~~~ Kathleen Yamauchi is a long-time realtor located in Prescott, Arizona. For more free tips and resources on buying and selling your home and other real estate advice, visit her web site at http://www.kathleeny.com.
3 Tips to Staging the Inside of Your Home Like a Pro
Are you considering putting your house up for sale, but not sure where to start? Afraid it will take too long to sell, or that you won't get the price you want? Think about "staging" your home, or in other words, setting the scene for immediate buyer interest in your property.
To be really effective, you need to look at both the outside and the inside of your home. Here are 3 tips to get you started with the inside of your home:
1. De-clutter. This is one of the most important things you can do. It might be easier to think of de-cluttering like this - you're moving anyway, so why not start packing now?
Pack up everything you don't need and store the boxes out of sight in the garage (or consider temporarily renting a small storage locker).
2. Organize your closets - put similar colors together, pants together, skirts together, shirts together etc. Why? Because it will make the closets look bigger. (Really.) An organized closet appears bigger, and you want your closets to look as spacious as possible.
3. Make your home look like a model. You want to de-personalize as much as possible so potential buyers can imagine themselves and their own belongings occupying the space in your house. That means minimizing - putting away everything you don't need or use. Clear off kitchen counters as much as possible - stash all those appliances you don't use, and put miscellaneous small clutter in a few attractive baskets or boxes.
And the biggest tip of all? Imagine yourself as a potential buyer looking at your property for the very first time. What impressions are you getting? Would YOU buy your house? What would you like to see changed before you put an offer on your house?
And don't worry about spending several thousand dollars to get your house ready to sell - you'll get it all back when your house sells. Proper staging helps you sell your house in a shorter time and at the price you want.
About the Author
~~~ Kathleen Yamauchi is a long-time realtor located in Prescott, Arizona. For more free tips and resources on buying and selling your home and other real estate advice, visit her web site at http://www.kathleeny.com.
To be really effective, you need to look at both the outside and the inside of your home. Here are 3 tips to get you started with the inside of your home:
1. De-clutter. This is one of the most important things you can do. It might be easier to think of de-cluttering like this - you're moving anyway, so why not start packing now?
Pack up everything you don't need and store the boxes out of sight in the garage (or consider temporarily renting a small storage locker).
2. Organize your closets - put similar colors together, pants together, skirts together, shirts together etc. Why? Because it will make the closets look bigger. (Really.) An organized closet appears bigger, and you want your closets to look as spacious as possible.
3. Make your home look like a model. You want to de-personalize as much as possible so potential buyers can imagine themselves and their own belongings occupying the space in your house. That means minimizing - putting away everything you don't need or use. Clear off kitchen counters as much as possible - stash all those appliances you don't use, and put miscellaneous small clutter in a few attractive baskets or boxes.
And the biggest tip of all? Imagine yourself as a potential buyer looking at your property for the very first time. What impressions are you getting? Would YOU buy your house? What would you like to see changed before you put an offer on your house?
And don't worry about spending several thousand dollars to get your house ready to sell - you'll get it all back when your house sells. Proper staging helps you sell your house in a shorter time and at the price you want.
About the Author
~~~ Kathleen Yamauchi is a long-time realtor located in Prescott, Arizona. For more free tips and resources on buying and selling your home and other real estate advice, visit her web site at http://www.kathleeny.com.
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