Ask Val

January 25, 2011

Choosing A Realtor To Sell Your Home

Filed under: Appraisal,ASK VAL,Realtor — Valerie Springer @ 9:50 pm
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I would like to sale my home, how do I know which realtor to trust with the keys to my house and how do I find him/her?

In today’s market consumers have made it hard for a realtor to do a great job listing homes.  I know, I have listed my house this past year and even though I work in this industry it is hard to hear the equity I once had has been reduced.

Our home is personal and we all like to think we are above the rest in our financial decisions.  Certainly I would not have invested in anything that was going to depreciate???

In 2005, property values were thriving, in 2010 and 2011, not so much.  As a consumer we control who we hire to list our homes and the price we must have to execute a contract.  THEN, the games begin…

My research shows there are some great questions to ask in determining if now is the time to sell.

1.  On average, how many days will it take to sell my home? (Based on local information)

2.  How much are homes in my area, comparable to my house selling for today?

3.  How much would you suggest I list my home for at this time in order to get a contract?

Interview three agents and choose the one who gives you the lowest value, in most cases that is the one who is being honest!

 It is competitive and many agents feel if they don’t cater to the homeowner they will miss out on a paycheck AND if they don’t tell you they can get what you want you will find another who will give you lip service.

Remember, realtors work very hard for every dime they earn.  They spend money up front counting on the commission when the house sells.   Put your trust in your agent and understand they do this everyday, and have all of the data and statistics at their fingertips when you meet.  The information is the same regardless of which agent lists your home and the numbers are not going to change.

If you cannot live with the price the “EXPERT” suggests then you probably need to wait 6 months and try again.  Don’t waste their time or yours and don’t fill the market with overpriced homes.  Even if you were to get a contract, the house would still have to appraise for financing.

If you would like me to refer you to a great realtor please let me know, I work with some of the best in the business.  Good luck and remember to allow me to help you with your financing needs.  Please visit my website at www.vshomeloans.com or call me at 205-995-7283 x 305.

Yours to Count On,

Valerie Springer

 

 

 

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August 17, 2010

Appraisals and Housing Valuation Code of Conduct (HVCC)

Housing Valuation Code of Conduct

 

Sometimes I wonder what our government was thinking when a group of lawmakers, (NY) decided it was in the best interest of consumers to have a third party requesting the most important piece of the puzzle in a refinance or purchase.   

An appraisal is an opinion of a property’s value.  Just like in any profession there are good and bad.  To utilize the best opinions it needs to be an appraiser who is familiar with the area and transactions taking place.   

In today’s market, we order an appraisal with a company who then gets in touch with the  appraiser.    

As a loan officer we do not have knowledge of the appraiser until we receive the finished product.  If there are any questions they are filtered back through the appraisal management company.   

For purchases, not so much negative, but for refinances it is a toss up as to the amount of work appraiser puts in to get the true value of the home.  I have been told sometimes can vary as much as $30k depending on comparables used.   

Thankfully, I have only had one appraisal that was disasterous and that appraiser has been removed from the the appraisal management company’s list.   While most appraisers take great pride in their work there are always those bad apples floating around in the barrel.   

I hope this trial will be one that is deemed unreasonable for all parties involved.  Ask the appraiser how they would rather work???   

If you have a comment or opinion, please share.   

Yours to Count On,   

Valerie Springer

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