Clauses That Get the House

In many parts of the country, established homes (not new construction) are selling in less than a week. Every market has a pricing “sweet spot” where these short listing times are most common. In the Denver area, that number rose from under $300,000 to almost $350,000 in only one year. These homes typically receive multiple…

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Why are these new homes so far apart?

New homes are being built faster than we have seen since the mid-1990s. For example, the Denver area is growing at an incredible rate – with base prices of new homes increasing from $4,000 to $10,000 per month, depending on the size of the house and the builder. The neighborhood pictured here is located between…

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Buyer’s Agents are Worth Every Penny Now

In most parts of the country, established homes (not new construction) are selling in less than a week. Imagine being a real estate agent trying to help his or her client find a home in these conditions! In hot markets like today, Buyer’s Agents must help you determine quickly and with certainty these four things: What…

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When Buying is Cheaper Than Renting

In the 1990s and early 2000s, when the real estate market was “out of control” or experiencing a “bubble” or however you want to describe “on fire”… the big push was to get renters to become homeowners. The pitch was something like “why pay rent and get nothing, when you can own a house for the…

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Watch Your Step!!!

I do a lot of appraisals for people refinancing their house. Just as many people use FHA (government-guaranteed) loans to refinance as they do to buy homes. And with the recently-lowered Mortgage Insurance rates, I expect to see even more. FHA/HUD has tougher requirements for their lending than banks who do conventional loans. As an…

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The Appraiser’s Coming… What Should I Do?

With interest rates at an all-time low, it’s not only a great time to buy a house, it’s an even better time to re-finance the loan you have. Refinancing a loan is, in most cases, going to require an appraisal. And the higher the appraisal, the better for the borrower. So what can you do…

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Oh Crap! The lights went out again!

The term “Obsolescence” is often used in real estate appraisals. We go into External Obsolescence and Functional Obsolescence in great detail in our guide “Buying the Recession-Proof House.” Recently I came across a great example of Functional Obsolescence while appraising a house that was being purchased: Here are two photos of “conditions” this property suffered,…

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Best Time of Year to Buy? The “Black Friday” of House Shopping

Black Friday is now behind us and we’re in the CyberShopping Week following Thanksgiving. Just like with retail, there is a best time to Buy a House – and it’s Now… when nobody else is doing it. While most folks are busy making holiday cheer, some motivated sellers still need to sell their house, right now.…

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Did Bad Assessor Data Cost you your Mortgage Loan?

In my last post I mentioned that I have recently appraised houses where the County Assessor’s information was incorrect regarding the property. The two houses were in completely different Counties but were both built in the mid-1990s. Things were booming around here at that time and I assume most of the misinformation is a result…

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Your Assessor may be (over)Taxing you on Bad Data

In the past two weeks, I have appraised houses where the County Assessor’s information was incorrect. The two houses were in completely different Counties but were both built in the mid 1990s. Things were booming around here at that time and I assume most of the mis-information is a result of builders reporting the wrong…

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