Appraisal Partners Blog

FEBRUARY 9, 2025

A home appraisal is an unbiased, professional opinion of a property’s fair market value. It’s conducted by a licensed or certified appraiser who is independent of the buyer, seller, and lender. If the appraised value is lower than the purchase price: This is called an “appraisal gap.”

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Lamacchia Realty

MARCH 17, 2023

Understanding the difference between these two values can help you make informed decisions when it comes to buying or selling a property Assessed Value Assessed value is a value that is assigned to a property by the local government for taxation purposes. Get a FREE Home Value Estimate!

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Raleigh Realty

MARCH 29, 2021

Build Equity Every time you make a mortgage payment, you build equity in your home. Think of equity as the amount of money your home is worth after what you owe is deducted. When your home value goes up and you start paying off the loan's principal balance, that builds equity. And shop around for lenders.

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Zillow

JULY 15, 2019

Cash-value policy : A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur. Closing : A one- to two-hour meeting during which ownership of a home is transferred from seller to buyer. Equity : A percentage of the home's value owned by the homeowner.

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Eppraisal

APRIL 27, 2021

According to an article on Zillow.com, you also receive tax deductions such as your mortgage interest and your property taxes. You make the decisions to make changes to the home. You also have choices and make your own decisions regarding home maintenance, repairs and upkeep.

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Appraisal Buzz

DECEMBER 23, 2024

The portion of average wages nationwide required for typical mortgage payments, property taxes and insurance now stands almost 13 points beyond a low point reached early in 2021, right before home-mortgage interest rates shot up from the lowest levels in decades. quarterly and 6.1% annually to a new all-time high.

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Chicagoland Appraisal Blog

APRIL 3, 2020

Here’s what that means for sellers in the Chicago area: Make key updates if you’re selling a dated home. Updated homes tend to sell faster in Chicago, notes Westhoff. Last year was a tough market, and the only properties that were moving were the ones that were renovated,” she says. Understand Chicago home values.

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Eppraisal

OCTOBER 11, 2022

Home Values and Affordability A homeowner usually pays three parties for the privilege of ownership: the seller to convey the house; the lender to pay for the house; and the taxing authority to provide local services. Between home values and rates, both on the incline, many buyers must be sober about what they can afford.

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Eppraisal

MARCH 28, 2023

Advantages and Disadvantages of New Construction According to Realtor.com, one-third of all homes on the market are new, i.e. recently built with no previous inhabitants. These are the very drivers of their appeal -- no aging, no wear and tear that often diminish home values. Individual sellers are easier negotiating partners.

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Eppraisal

FEBRUARY 22, 2022

Just as inflation drives up the value of lumber, light bulbs, potatoes, chicken and women's shoes, it boosts home values in the same way. For instance, and for simplicity, if there are 30 identical houses and $600 in circulation, each property would be priced at $20. Who Does Inflation Help?

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Round Rock Appraisal

MARCH 28, 2015

An appraisal of property serves the benefit of both the seller and the buyer. This not only makes sure the price listing for the property is fair but also to insure the buyer isn’t overpaying. Purchasing a home is the largest investment most people will ever make in their lifetime. Property Taxes.

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Eppraisal

DECEMBER 8, 2023

This not only gives you a clear idea of your budget but also makes you a more attractive buyer to sellers. Understand Home Values and Conduct Home Valuations To make informed decisions, it's crucial to understand the current market and home values in your desired area. Happy house hunting!

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PennyMac

JUNE 28, 2022

More specifically, closing costs are fees that you (as the buyer) will pay to third parties who have performed services for purchasing your home. At this point in the home buying process, you’re probably wondering why closing costs are necessary. Closing costs can apply to both the buyer and seller.

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Raleigh Realty

MAY 3, 2021

Build Equity Your home will have a value assigned to it, and you'll be making mortgage payments. The difference between the home's value and what is left in your mortgage is the equity. In other words, if your home is worth $100,000 and you have $60,000 remaining in your mortgage, you have $40,000 worth of equity.

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PennyMac

AUGUST 14, 2024

Pressure to Sell Quickly: Holding two properties can create urgency to sell your existing home, potentially leading to compromises on price or terms. Selling Before Buying Many home sellers opt to sell their current house before buying a new one. Get Informed: Research recent sales in your area and comparable properties.

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Will Springer Realtor

NOVEMBER 9, 2022

The stats are an unwelcome paradox for buyers and sellers alike. Active listings for single-family homes are up 159% in King YoY, up 86% in Seattle and 425% on the Eastside. The land share of home value in King County is an astounding 72%, according to Gardner’s analysis of property tax records.

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PennyMac

SEPTEMBER 2, 2020

Surprisingly, the previous generation has even greater concerns, with 60% of baby boomers worried they will never be able to afford a down payment on a home. By offering mortgages with low or no down payments (as long as the sales price does not exceed the appraised home value), VA loans make home ownership possible for many.

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PennyMac

JANUARY 3, 2024

Purchasing a new home while carrying your current loan without selling makes it extremely difficult to qualify for a mortgage. Other home expenses, such as property taxes, utilities, homeowners insurance and often costly homeowners association (HOA) dues, will also continue until you sell.

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Assurance Financial

APRIL 29, 2021

It will have your name, the details of your loan, a list of loan costs, a list of taxes and other costs and loan disclosures. The CD also tells you how much cash you need to bring to closing and lists all the transactions that have taken place, such as any credits from the seller. PITI (Principal, Interest, Taxes and Insurance).

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Will Springer Realtor

NOVEMBER 12, 2021

As home values rise, low-income households already on the margins of affordability are being priced out of homeownership in urban areas such as Seattle, where median prices have jumped 37% (and 52% countywide) over the past five years. The sellers are even throwing in their boat as part of the deal. Some parts of the U.S. –

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Appraisal Today

FEBRUARY 24, 2023

However, our analysis finds multiple other plausible explanations for under valuations of this magnitude such as the greater presence of first-time homebuyers or seller concessions. While there is an income, wealth and home value gap among whites, blacks and Latinos it’s not caused by real estate appraisers.

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Housing Wire

FEBRUARY 19, 2025

Showings: Explain how you, as the agent, will find and send properties through MLS searches and set expectations for how you will conduct property tours. Offers: Outline how making a competitive offer will work, including how price, contingencies, due diligence funds, and earnest money will impact how the seller views an offer.

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Housing Wire

NOVEMBER 11, 2024

Price expectations gap According to DellaPelle, real estate buyers and sellers are in a standoff when it comes to asset prices. “I I am going to hopefully sell my single-family home in a very nice New Jersey suburb sometime early next year,” DellaPelle said. “I

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D Fritz Appraisals

MARCH 13, 2025

If a home appraises for less than the purchase price, the buyer may need to: Renegotiate with the seller Increase the down payment Secure additional financing Do Homes Usually Appraise for the Selling Price? Not always. What Qualifications Does an Appraiser Have?

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