|
Thank You and God Bless
This has been an exciting and challenging year - of the very best kind. We have you to thank for getting us through selling the house on Beaver Creek. But you didn't forget us after that, the perfect house came along. God really out-did himself on this one! The furniture went into this house as though it could have been here all along. The dogs are sure they've died and gone to heaven. We have such neat neighbors. Thank you and God Bless.
Lee & Lacey Dillard
Tell us how we're doing!
You have a story to tell about us. You've worked with us, and we've helped you buy or sell a home. We need your feedback. Others need your feedback, too! Please take a moment to fill out this form and tell us how we did...
About Appraisals >Three Caballeros
When you buy a house or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser will look for "three caballeros" or three "comparables" -- homes that are very similar to the one you are buying -- and will make adjustments to reflect the differences between the properties.
Housing patterns tend to be homogenous, meaning that homes worth $300,000 are usually located in $300,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price.
This is not the only factor considered in determining the worth of a property, but it is an important one. The buyer or seller may view the property as a home or an investment, but lenders view it in a completely different way. To a lender, property means security in the event a borrower fails to repay a mortgage. Therefore, lenders must know real estate values in order to limit their risks.
|
| Q |
What land did the U.S. Government buy for $7.2 million?
|
| A |
The U.S. bought all of Russian America (Alaska) from the Russian Czar in March 1867. |
 See More Real Estate Trivia > |
|
|
|
- NUMBER1EXPERTS™ 
