Are All Real Estate Appraisals Accurate?

Real Estate Leads have become such an indispensible Real Estate tool in the past ten or so years. There are so many Realtors all over the United States that refuse to do business without them. The reasons for this vary, yet the fact that this has become the prevalent way of doing business pretty much speaks for itself. Think about it if you would; this is one way that you know for sure that those you are calling on to set up an appointment to see houses are able and ready to buy.

I hear endless excuses about why they can’t start until some future day, how important other things are that have to be taken care of first, their insecurities, their “bad luck”, their personal issues from their past, their current or former wife, husband or girlfriend/boyfriend, and the list goes on and on.

Back to our example. Both of our neighbors are paying about $875 per month on their mortgage. Now let’s suppose that both of them decide to pay extra on their mortgages, upping their payments to $1,100 per month. Both neighbors are reducing their principal balances by $225 more per month, and here’s where the first neighbor has the advantage. The balance on the $100,000 mortgage goes down much quicker than the $146,000 mortgage, such that while the first neighbor is paying more in interest every month than the second neighbor, by sometime in the seventh year, neighbor one is actually paying less in total interest. Neighbor one will pay his house off in a little over 14 years, while neighbor two will take about 18 years to pay off.

A. Exterior Broker Price Opinion. Also referred to as a “drive by” BPO. This form type requires only exterior photo’s of the home. It will generally require a photo of the exterior of the home, a zoomed in photo of the address on the home (address verification photo), street photo’s in both directions from the home, a street sign photo, and a photo of each side of the home.

The current Miami Condos For Sale market is not getting better. House prices continue to decline while inventory continues to increase. If you are in a situation where you do not have to sell your house I would suggest not selling. If you can wait out the slow real estate market you will be much better off.

Beware of homeowners who say, “If my house was in Richland Hills, it would be worth $750,000.” Undoubtedly true, but the essential point here is that the house is not in Richland Hills. Until someone devises a magical way to teleport houses to a more expensive area, what really matters is what the house is worth right where it is.

Usually you would pay $800 per month or MORE if you were to rent a home that is valued at or around $100,000. Out of the $537 payment per month, about $413 consists of interest per month in the first year. This means that out of the $746 per month…Around $623 is tax deductible. If you are in the 25% tax bracket, this means that the $623 will be a total savings of about $155 in tax savings per month.

A deal is a deal. You are expected to honor any commitments you make. Ensure that you have the legal documents available to close the home sale promptly. This involves having at least two copies of the sales contract available. One for your records, the other for the purchaser. Finally remember that a deal is a deal. A contract is a contract.