Searching for: appraisal

How Was It Measured?

In an attempt to compare homes, one of the common denominators has been price per square foot. It seems like a fairly, straight forward method but there are differences in the way homes are measured. The first assumption that has to be made is that the comparable homes are similar in size, location, condition and… Read more »

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An Unexpected Expense

In a study released by TD Bank, 65% of buyers with mortgages that required mortgage insurance said the higher monthly payment was more than they originally expected. Private mortgage insurance is required on loans that exceed 80% of the home’s value. For conventional loans, the premiums range from 0.5% to 1% annually. The PMI could… Read more »

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It is generally considered a seller’s market when the conditions favor the seller. This condition exists when demand is high and supply is low without any significant adverse economic conditions taking place. Demand is determined by ready, willing and able buyers. Low interest rates with indications that they will begin to rise fuels part of… Read more »

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Not many buyers have assumed a mortgage in the past 25 years. Most people think it was because FHA and VA in the late 80’s began to require that buyers qualify for the assumptions. Not having to qualify for a mortgage would certainly benefit certain buyers. If a homeowner must qualify for an assumption like… Read more »

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What’s It Worth?

How much is a one carat diamond worth? Anyone who has shopped for one knows that the price could have a significantly wide range of value. It’s been said that purchasers should consider the color, cut, clarity and carat size to compare stones but when it gets down to decision time, buyers still want to… Read more »

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Every single day, homeowners who are excited about lowering their rate have a tendency to ignore the refinancing costs because they’re being rolled back into the new mortgage. If the payment is lower than what they’re currently paying and there’s no money out of pocket, it seems like a good deal. Refinancing your home because… Read more »

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