How do Appraisals Work?

Thanks for visiting my video blog! There are just so many questions surrounding the home-buying process so it's easy to get lost. Today I want to talk about one question in particular I was asked by a client of mine: what happens if the appraisal value of my home comes in low? Fortunately, we haven't experienced this problem as much as we did earlier in the year, but it still raises an important question. Appraisals are a mystery to a lot of us, so how do they work?

Appraisals are used to protect you from over-paying and to protect you from spending outside of your payment bracket. They are also used to keep the market stable and prevent inflation.

The mortgage company sends an appraiser to the home. Using pending sales and closed sales, they evaluate your home in comparison. As a real estate agent, it is our job to guide that appraiser. We give them facts about the area and neighborhood. We present them with recent homes that are similar and have sold for a high value. So it's important that the appraiser has this key information. This way you stand a better chance of getting a higher appraisal value.

If you have any questions about how to increase your appraisal value, please give me a call today! Let's talk about your home! Thanks for watching!

6 Reasons Your Home Is Not Selling

 

Welcome back to my video blog! Lately, I’ve worked with a few clients whom are trying to sell their home for the second time. Fortunately, with the help of our great team we were able to sell their home. Why, though, didn’t it sell the first time?

There are actually a few mistakes sellers make when trying to sell their home that could prevent it from selling. Here are six of the most common mistakes made.

1. Your home is overpriced. It’s important to price your home aggressively to get as much attention as possible in the first two weeks on the market.
2. It’s difficult to set up a showing. In today’s world, we all want instant gratification. Buyers want to be able to easily come and see your home.
3. Your home has poor marketing. Ninety percent of buyers start their search online; that’s why you need great photographs to showcase your space. We recommend hiring a professional photographer.
4. You’re there during the showing. Buyers want to walk through the home on their own time without any pressure. When a seller is present it can cause the buyer to rush through and not appreciate the home.
5. Your home is too personal. I know you’ve had a lot of memories in your home, but when a buyer walks through they want to be able to image their life and their family in it, not yours.
6. You’re too emotional. Sometimes buyers send in low-ball offers and sellers can become offended and don’t want to counteroffer. I always recommend counter offering and engaging the buyer. That’s where your real estate agent comes in and can handle the situation for you.

These are six common reasons your home might not be selling. If you need help getting your home sold, give me a call today! Thanks for watching!