Many things happen when you buy a new home, and sometimes things don't go your way. When purchasing with a mortgage, one issue you can have is an appraisal gap. If there is an appraisal gap, you could lose your dream home. We will examine what happens when the real estate appraisal is lower than the purchase price and what you can do about it. From three decades of experience selling homes, I have dealt with appraisal deficiencies several times. What is an Appraisal Gap? The simple explanatio...| Maximum Real Estate Exposure
Have you heard a real estate agent use the word “comps” and wondered what they meant? Understanding a real estate comp will probably be foreign if you are not in the industry. Comps in real estate are comparable sales. Real Estate comps are used to compare and determine the fair market value of a property. Without appropriate comparisons, determining a home's value is far more challenging. Real estate agents and appraisers use comparable sales to assist buyers and sellers in understanding...| Maximum Real Estate Exposure
Have you heard the real estate term 'CMA' and wondered what it was? It's an abbreviation for comparative market analysis. Sellers and buyers should understand a comparative market analysis in real estate. If you are selling your home, deciding how much to ask can be difficult. Likewise, choosing how much to offer for the home is crucial when buying. Whichever side of the real estate transaction you are on, getting this wrong could cost you thousands of dollars. Having an appropriate listing p...| Maximum Real Estate Exposure
Bidding wars on houses are all too common these days. How do you win when there are multiple offers on the home you love? Winning a bidding war on a home isn't always easy. You may find that out quickly if you plan to buy a home. When making a home purchase now, whether a new home or a resale, the chances are high that there will be competing offers on the property you love. High demand coupled with low inventory has created bidding wars in many markets. If you are trying to buy, especially i...| Maximum Real Estate Exposure
What to Know About Buying New Construction Homes Are you thinking about buying a new construction home? The idea of purchasing a brand-new house is appealing to many homebuyers. Going directly to the builder and being the first to live in a home offers advantages. However, buying a newly constructed home isn’t the same as buying from a homeowner. With a new construction home, some similarities exist to buying resale or even older homes. But there are also many differences that you need to c...| Maximum Real Estate Exposure
:max_bytes(150000):strip_icc()/inflation_final-8652eb79d80348f49810849af466bb44.png)
Inflation is a decrease in the purchasing power of money, reflected in a general increase in the prices of goods and services in an economy.| Investopedia
Many consumers have preconceived notions about selling a house as-is where-is. It's probably not exactly what you think. Sometimes, when you sell a house with issues, selling it “as is” may seem like the most straightforward course of action. Most homeowners assume that selling an as-is house means they will not have to make any repairs to the property (which is true) and that it will be practical and involve the least amount of stress (which may be far from true). Before you sell your ho...| Maximum Real Estate Exposure
What is an Appraisal? Appraisals and appraisal contingencies are standard parts of most real estate transactions and the home-buying process. A real estate appraisal is often conducted when purchasing a home and getting a mortgage. It ensures that you pay the fair market value for a property. Appraisal is a requirement of mortgage lenders before they provide financing. They want to ensure that the asset they're lending against has sufficient equity. The home appraisal establishes a value base...| Maximum Real Estate Exposure