An appraisal is an important part of many real estate transactions. An appraisal is typically done if a buyer requires a mortgage loan to purchase a property. The appraisal is done by an appraiser (who is licensed), and it's based on multiple data gathered during an inspection by the appraiser. When it comes to appraisals, there are many myths or misconceptions around them. Whether you're looking to buy a home, looking to refinance a current mortgage, or you're looking for more information about all that goes into real estate transactions, here are some of the most common myths when it comes to appraisals.

Click here to view in full screen

Buying a home in today's real estate market can be a challenge when there are fewer homes available for sale.  It's important to be as prepared as possible when you locate the home you want to buy.  We have included a couple tips here for your to consider.

The Real Estate Market is strong but that comes with many challenges for both the Sellers and the Buyers. Understanding these challenges can help you be prepared when faced with decisions along the way.  

This is the absolute best time to sell while the buyer demand is the highest we have seen in years.   Sellers can expect to sell their home at the highest prices we have seen since the downturn several years ago. 

While the local licensed associates and Realtors are gearing up in anticipation of a busy season, we have a major dilemma glooming over us.  It’s important members realize the importance of  a“YES” vote for the upcoming Dues Assessment.   Unfortunately, not all of our members own a home in the club, and with less invested, may not see the relationship between supporting our amenities to assure the value of our club, including home values,  remain sound. Without an operating budget to maintain our facilities, grounds, and pay employees, the value overall, including the value of our homes, can be expected to diminish

Buyer's need to make sure they are "Good to Go"  when trying to buy a home these days.  It is very common for buyers to come up against multiple offers and we want you to gain the upper edge in these situations by suggesting you work with a lender who assures your assets, employment, and credit score are approved with an underwriter so that we can assure the seller we will only need a satisfactory appraisal and title search to successfully close the transaction.

 

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage - either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained this month in their article, “12 Practical Steps to Getting Rich”:

We know how frustrating this market is for all of the buyers we are currently working with.  It can be very tempting to throw in the towel to wait for a "better market".  Our buyers will hear us say over and over again, "Remain Patient and once you are aware of all available homes within your price point and criteria, watch closely for the new listings that appear in your email alerts.  It's important to have financing with your approval letter in hand and be ready to act confidentally and well informed when the right house is one you would like to call "Home"