Chicagoland Appraisal Blog

MAY 13, 2021

Real estate professionals or other appraisal experts can help you determine the market value of your home. This is helpful whether you intend to stay in your home or wish to sell it. Here, we’ll explore everything you need to know about home appraisals and how to maximize the value of your house. .

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Eppraisal

JANUARY 12, 2024

In this guide, we'll explore the importance of spring maintenance and prioritize tasks that contribute to enhancing your home's value. Roof Checkup Your roof is your home's first line of defense. Inspect for loose or damaged shingles or tiles and address any leaks promptly.

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Premier Home Appraisal Blog

MAY 30, 2023

According to the Homeowners Protection Act (HPA), you can request PMI cancellation once you reach 20% equity in your home and have paid off 20% of your original loan amount, either through mortgage payments or an increase in your home's value. The real estate appraiser will come to your home and conduct an inspection.

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Realtor

AUGUST 7, 2019

If a buyer needs a loan to purchase your home, the lender will require an appraisal toward the end of the loan application process just to make sure the home is actually worth its purported value. Appraisal value isn’t always the same as market value. The final word?

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Listing Spark

JANUARY 5, 2025

The buyers inspector will be looking through every nook and cranny so its a good idea to knock out any issues likely to show up on an inspection. A realistic price can attract potential buyers, while an overpriced home can sit on the market for months. Or better yet, hire a handyman to do it right.

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Raleigh Realty

FEBRUARY 19, 2022

But before you do there's one last factor to consider: the home appraisal. Like making counter-offers and going through the home inspection process, the home appraisal can be a sticking point between buyer and seller. Here's what you need to know about home appraisals so that you come prepared.

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East Coast Appraisal

JUNE 7, 2021

If you're thinking about selling your home, you probably want to know what it's really worth. During an appraisal, your home is inspected and photographed to determine the current market value. If you would like to know more, check out these commonly asked questions about the home appraisal process.

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Zillow

JULY 15, 2019

Approved for short sale : A term that indicates that a homeowner’s bank has approved a reduced listing price on a home, and the home is ready for resale. Look for this accreditation or something similar when shopping for a home inspector.). Buyers should budget for an amount that is 1% to 3% of the home's purchase price.

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DataMaster

APRIL 6, 2021

Because of that, he didn’t understand why his home didn’t appraise for higher than his neighbors’ homes. The market was hot and homes were selling for $10 to $20 thousand more than the asking price. Home values were skyrocketing and rising weekly. Let’s explore how appraisals work!

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DataMaster

APRIL 6, 2021

Because of that, he didn’t understand why his home didn’t appraise for higher than his neighbors’ homes. The market was hot and homes were selling for $10 to $20 thousand more than the asking price. Home values were skyrocketing and rising weekly. Let’s explore how appraisals work!

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East Coast Appraisal

MARCH 16, 2023

A home appraisal is one of the best ways to determine a property's market value. Fortunately, you can take several steps to improve your home's appraisal. A higher appraisal value means you can sell your home for a higher price, which can result in a larger profit for you as the seller.

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PennyMac

OCTOBER 10, 2023

For most loans, the lender obtains a signed and completed appraisal report that accurately reflects the market value, condition and marketability of the property. They must take into account all factors that influence a home’s value when developing the market value opinion in the appraisal report.

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Birmingham Appraisal

AUGUST 30, 2023

A Look at Why Your Home May Not Appraise for The Expected Value When it comes to selling or refinancing your home, one of the crucial steps is the appraisal process. Appraisals determine the market value of your property, which affects your ability to secure a loan or make a profitable sale.

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Realtor

DECEMBER 11, 2017

“There are tax consequences if you’re selling a house to a family member at less than fair market value ,” she says. In other words, if you sell your home to a family member for less than the fair market value, it’s a gift.

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Realtor

DECEMBER 11, 2017

“There are tax consequences if you’re selling a house to a family member at less than fair market value ,” she says. In other words, if you sell your home to a family member for less than the fair market value, it’s a gift.

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Eppraisal

DECEMBER 12, 2023

Winterizing your home not only ensures a cozy and comfortable living space during the colder season but also plays a significant role in maintaining and potentially increasing your home value. Here's a comprehensive guide with practical steps you can take annually in late fall or early winter to winterize your home.

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Eppraisal

DECEMBER 20, 2022

Your real estate agent will discuss with you the price of the home you are looking for, the size, how many rooms you need, the style, your needs and wants in a home, and much more. It is important to understand home values in the areas you are looking so you have an idea of what type of homes you can afford.

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Listing Spark

JANUARY 5, 2025

To avoid confusion, its essential for sellers to disclose any known defects or issues with the property and for buyers to conduct thorough inspections before making an offer. How the as-is clause in the Texas law can be confusing The as-is clause on a standard Texas TREC contract can be confusing for some home-sellers.

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Eppraisal

SEPTEMBER 8, 2023

While AVMs can be a useful tool for getting a ballpark estimate of a property's value, they have limitations and may not always provide a precise estimate of the property's true market value. "Consumer On the other side of the equation, real estate agents often use AVMs for lead generation.

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AmeriMac

JANUARY 30, 2024

Moreover, the reverse mortgage appraisal report, reflecting the current home value, significantly aids in the loan application process. The homeowner’s current location also impacts eligibility, as the estimated home value for the reverse mortgage is calculated based on the location.

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Appraisal Today

AUGUST 30, 2024

This technology accelerates the inspection process, allowing appraisers to focus their expertise on more nuanced aspects of the valuation where their experience and judgement are most critical. Again, I ask, does contract price equal market value? Two recent articles highlight the ongoing debate about appraisal accuracy.

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Will Springer Realtor

MARCH 7, 2023

Residential property is assessed each year at its full market value, which is defined as the amount a buyer, willing but not obligated to buy, would pay to a seller willing but not obligated to sell. For residential parcels, fair market value is generally determined by analyzing recent sales of comparable properties in the same area.

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PennyMac

JANUARY 2, 2024

Keep in mind, though, that you can still potentially increase your home's equity even if you don't fully recoup the cost of certain improvements. Equity is the difference between your home's current market value and the amount you owe on your mortgage. Not anticipating issues. Things don’t always go according to plan.

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Appraisal Today

AUGUST 30, 2024

Redfin Reports 6 of Every 7 People With Mortgages Have an Interest Rate Below 6% 110 Nightmarish Home Inspector Scenarios Mortgage applications increased 0.5 Again, I ask, does contract price equal market value? Further, should contract price be the metric by which appraisal values are measured? Available Sept.

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PennyMac

JUNE 28, 2022

From taxes, to inspection fees, to mortgage fees, you’ll need to make sure each party is paid to fully purchase your home. If you live in a flood zone, you’ll need to pay a flood inspector from the Federal Emergency Management Agency to certify your home. Lead-Based Paint Inspection. Pest Inspection.

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Appraisal Today

APRIL 14, 2023

For many different reasons, properties can come on the market in less-than-par condition. At some point it’s no longer “normal market value minus cost to cure equals as-is value.” Value acceptance is 3 out of 5 – no appraisers. Or desktop appraisals and inspection only. Diversify!!

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Cleveland Appraisal Blog

MAY 13, 2021

And right now, many buyers are forced to bring cash to the table to make up the difference between what the home’s market value is determined to be, and the contract price. It may still be worth it to the buyer to move forward, despite paying more than market value. . What is solid support for market value?

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Appraisal Today

JUNE 17, 2022

New homes – what is happening? No inspections or appraisals? YOU MUST KNOW YOUR MARKET TRENDS. TRACK AND GRAPH THE NUMBER OF LISTINGS VS. PENDINGS AND EXPIREDS, DAYS ON THE MARKET, PRICE CHANGES, ETC. . We have never seen a pandemic real estate market before. Detached vs. townhomes and stacked condos. No one did.

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Assurance Financial

NOVEMBER 9, 2021

That’s why it’s beneficial to hire someone to conduct a pre-inspection of the house so you can pinpoint and fix any problems before listing the property. Consider closing costs and concessions: In a competitive market, you may have to go the extra mile by paying for closing costs or including concessions to close the deal.

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D Fritz Appraisals

OCTOBER 11, 2022

How Home Appraisers Decide on the Value of Your Property. There are many reasons you may need to know the value of your property and for this, you need a home appraisal. Home appraisals are a vital part of the home buying process as they have a big influence on the amount a lending institution will loan the buyer.

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Assurance Financial

APRIL 29, 2021

An earnest money deposit or EMD is a percentage of the home’s sale price , usually about 1 to 3%. If all goes well with the process, the EMD is applied to the final price of the home. If the house doesn’t pass inspection or the sale doesn’t go through due to an allowable contingency, the buyer gets the EMD back.

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