If you are out there in a free market to purchase or sell your house, you will likely hear the term “comps” or comparables used more than once. Comparables are usually a topic of great debate between real estate agents, appraisers, loan underwriters, buyers, and sellers throughout the buying and selling process. So… What Are […]
One might think that measuring the square footage of a house for an appraisal is pretty simple and methodologically basic. Many of us think that measuring the square footage is all about taking out a measuring tape, perhaps dividing the building area into measurable square partitions, then measuring those partitions and finally adding those partitions- […]
A home appraisal report can be ordered by anyone; however, depending on the “intended use” the report may need to be ordered by specific persons to be utilized. A good example of this is mortgage lending: if your loan is to be sold on the secondary market to Fannie Mae, Freddie Mac or is an […]
Technically, an appraisal report is always “good” as it is an opinion of value assigned to the property at a given date. However, for purposes such as mortgage lending the appraisal typically must be no older than 90 days. This number is used since real estate is typically in flux throughout the year and is […]
To answer this question we must first understand what type of value a home appraisal provides. Most appraisal assignments are completed to determine “Fair Market Value” of a property at a given time, which can be current, future or past. Fair market value, or market value for short, is defined as the most probable price […]
Landscaping is usually related to a home’s trees, lawns, bushes and flowers. But other things may also be considered part of landscaping, including fire pits, decks, patios, waterfalls, swimming pools and outdoor lighting … all of which could increase the value of the house. By and large landscaping and trees aren’t taken into account when […]
A few tips on home appraisals from your local Austin Property Appraisers What are the key steps in the appraisal process? When it comes to residential appraisals there are two processes; the site visit, often called the inspection, and the report writing. The site visit is the process by which your austin property appraiser appears […]
In some real estate situations, the buyers may ask if repairs can be done before the closing of the sale. This is often the case for homes where financing isn’t possible; foreclosures with no heater, no stove and missing toilets as an example. For the sake of oversimplifying the matter, the answer is “no.” It […]
Keep Up to Date with Your Current Taxes The onus of making sure your taxes are paid is your responsibility, according to the tax code. You don’t get away with not paying your taxes just because you didn’t receive your statement. It is up to you to find out what is due from the year […]