Does Zillow work, and will it give you a good approximation of the market value for the home you want to buy, or sell? My simple answer – “Sometimes it’s close and sometimes it’s not even on the same planet.” While Zillow offers many services, it is primarily known as a free website to help folks obtain a property value, without paying for an actual appraisal. It brings out the Curious George in all of us! Below, I will show you a few Zillow estimates and then compare them with an actual appraisal. Read the rest of this entry »
Tag Archives: Appraisal
We are experiencing somewhat of a seller’s market in Sacramento, and a changing climate, as value’s are starting to rise across the country. With this added demand, comes multiple offers which can drive up the purchase price of a home – sometimes artificially. We know that too many buyers are chasing too few sellers, and reaching a sales agreement can be just the start of the negotiation process. One particular negotiation point which can present difficulties for both buyers and sellers is when a home’s appraised value falls short of its contracted sales price.
Sometimes, this happens because the home’s price was inflated. Other times, it’s the result of a faulty appraisal. Or, everyone knows the home won’t appraise, but the market is heating up and the seller feels they deserve what “the market will bear”, and don’t care what the appraisal says. Read the rest of this entry »
With mortgage rates at all-time lows, purchase and refinance activity is climbing. And with guidelines tight, and pipelines full, you will want to be properly prepared up front to mitigate some of the horror stories you have probably been hearing about.
Home sales are at their highest levels since May 2010 as home buyers take advantage of favorable economic conditions. Home prices are low, household income is rising, and rents are up in many U.S. cities.
Low rates have stoked mortgage refinance applications throughout Sacramento, too. Read the rest of this entry »