The value approach determines value using comparison sales in the immediate area that have sold within a recent period of time. When the appraiser arrives at your home, they will take both interior and exterior photos of the property and jot down lots of notes as they move from room to room...
It's not a lack of inventory or ever-rising prices that are helping to keep the lid on new home sales, and even high financing costs are being offset to at least some degree by builder incentives. Rather, it's that new construction is an imperfect substitute for a properly functioning ex...
Other options include asking the seller or, in the case of a new home, the builder if they will pay themortgageinsurance by negotiating that as part of your purchase offer. If you plan to stay in the home for three or more years, single-premium mortgage insurance may save you money. As...
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The net value of the comparison sales are then averaged to come up with a median appraised value for the subject property. Tip:The assessed value of your home is for property tax purposes and could be quite different than your appraised value, which is what the lender uses. ...