Skip to main content

Featured

Why is an Appraisal Important When Buying or Selling a Home?

One the biggest components in buying a home when a lender is involved includes an appraisal. If you buy a home with cash and sometimes with a conventional loan, you can bypass this step. With an FHA loan and an VA loan, you cannot.  What is an appraisal?  In simple terms and Appraisal is a valuation of property.  An appraisal ordered for the purchase of a home is to determine if the price agreed upon by seller and buyer is acceptable by the lending institution. If an appraisal comes in low, the lender will likely decline to fund the deal. Unless the buyer is willing to come to the contracted price the deal to purchase can fall apart.  So what happens if the Appraisal come in Low? Sometimes a buyer will pay over the appraised value in order to buy the home. Sometimes the seller will lower the contracted price to the appraised value in order for the deal to continue. Sometimes the deal falls apart.  Loan types will determine what you can do as a buyer to get past the low appraisal. A con

Why Your Home Didn't Sell

As a Realtor, I look at hundreds of homes. It always saddens me when I see homes expire from the MLS (Multiple Listing Service) because it means that the people who own them have to continue to hold on to them long after the fact they need to sell them. After viewing homes for awhile, a couple of items that jump out at me scream: Don't Buy Me!


Tacky Light Fixtures: What is the problem in purchasing lighting from this decade? It's inexpensive to install and buy. Check out Lowe's or Home Depot before listing your home and find a new fixture for over your dining room table and your entry. You will be amazed out the results.

Laminate Kitchen Countertops in Houses over $500,000: If you are listing your home and want over $500,000, you need to upgrade your countertops in your kitchen from a laminate to granite or engineered stone. It is what people are looking for in this price range.  If you don't offer it in the home you are trying to sell, you can forget it. They will look elsewhere.

Yellow Wood Cabinetry: These houses sit the longest and it's your builder's fault, not yours. Painting cabinetry is time consuming and expensive but if your really need to sell and fast, Do it.

Dirty Baseboards and Molding: Seeing dirt on your baseboards and moldings tells me and potential owners you have not cared for your home. It is an easy fix and one you can hire out for not much money.

Yellow and Red Paint Schemes: It's done. It's over. Find a gray and paint your walls this color.

Animal Smells: We all love our animals but that doesn't mean other people love our animals. If your home smells of urine, people are very turned away. You may not even smell it because you are so used to it but others do.

Ask your Realtor thinks about these reasons and see if they agree.

Good Luck and Happy Listing!





Comments