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Houston Real Estate Blogosphere
Houston Real Estate Blogosphere brings together all the blog posts of REALTORS from the Houston area in one place
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Home Appraisals

The most recently published posts in the Home Appraisals category
The discrepancy between appraisers' and home owners' opinions of home values is narrowing. In November, appraisers valued homes 1.56 percent higher than home owners, according to Quicken Loans' Home Price Perception Index. "Mortgage financing often hinges on whether the appraised value coincides with the home values agreed upon by the home buyer and seller in the case of a home purchase,...
Read Post [Posted on 12/17/2014 By John Askins]
According to the latest J.D. Power 2014 U.S. Primary Mortgage Origination Satisfaction Study, first-time homebuyers report challenges with understanding the mortgage process and the options that are available to them. It also suggests that lenders may be doing a poor job of educating and helping borrowers navigate the loan process.Among survey respondents purchasing a home, 58 percent were fi...
Read Post [Posted on 12/11/2014 By Tiffany Markovsky]
Many real estate professionals have blamed low appraisals for derailing transactions over the last few years. But as home prices heated up across the country, are appraisals still coming in lower than the agreed-upon sales price?  Even with prices rising and the number of foreclosures falling, some appraisers say assigning a value to a property isn’t getting any easier. One of the big reason...
Read Post [Posted on 12/11/2014 By John Askins]
In this week’s top housing news: a rebound in sales at home improvement stores may bode well for the housing market; home owners get a second chance to refinance with HARP 2.0; and a federal official pushes a new tax credit for veterans.After a week of football, scrambling for deals at the mall, and finishing up Thanksgiving leftovers, you might have missed the stories impacting home owners. Stron...
Read Post [Posted on 12/05/2014 By Garrett McWhorter]
As part of the homebuying process, your real estate agent may create a comprehensive market analysis or CMA. Later, when you apply for a mortgage, a bank appraisal is conducted by a licensed appraiser. Are CMAs and appraisals the same thing? While both CMAs and appraisals  help determine  a home's market  value, their purposes are not the  same. The CMA is a sales tool to ...
Read Post [Posted on 12/03/2014 By Tiffany Markovsky]
One might easily assume that paying for a home in cash may be optimal but it's not always so clear. Let's take a look at the main advantages of paying for a home in cash versus obtaining a home loan. One of the main benefits of an upfront payment is that you won't need to pay interest or escrow costs. Paying in cash will also make your offer appear more attractive to the seller if they are re...
Read Post [Posted on 11/13/2014 By Tiffany Markovsky]
The housing market sets a solid pace, though challenges nip at its heels.Has the housing market finally bottomed out? Signs are promising, though tentative. Mortgage rates remain low — in fact, they might go lower; pending-home sales are up from last year; and new housing stock demand is at a two-year high. But foreclosure filings are up in major cities and existing-home sales decreased in June.Se...
Read Post [Posted on 11/12/2014 By Garrett McWhorter]
You’ve invested time and effort in your search for a new home. You’ve researched neighborhoods, and you’ve thought about the features in a house that are important to you.Finally, you’ve found the perfect home. You’ve even negotiated a purchase price with the seller.You’re waiting for your mortgage approval to conclude the sale. To your chagrin, the appraisal undervalues your prospe...
Read Post [Posted on 10/31/2014 By Michelle Cannon]
In the recent past, low appraisals have been blamed on delaying—or even canceling—many real estate transactions over the last few years. While real estate professionals are limited in how much involvement they can have in the appraisal process, they can do a few important things to help ensure their sellers receive a fair valuation. Be there. Appraisers and other real estate agents say that being ...
Read Post [Posted on 10/19/2014 By John Askins]
The vacation-home market bounced back big time in 2013.Vacation-home sales were up by nearly 30% in 2013, as high-net-worth households returned to the recreational property markets, according to the NATIONAL ASSOCIATION OF REALTORS®.NAR’s “2014 Investment and Vacation Home Buyers Survey” shows vacation-home sales jumped 29.7%. About 717,000 vacation homes changed hands last year, up from 553,000 i...
Read Post [Posted on 10/07/2014 By Garrett McWhorter]
For folks like Edith Macefield, home is priceless. She forced developers to build their mall around her small, 108-year-old farmhouse in Seattle's Ballard neighborhood. Image: Geoff Carter/FlickrDo you love your home as much as Edith Macefield, the 84-year-old Seattle woman whose story is remarkably similar to the plotline in the movie “Up”? She turned down a $1 million offer in 2006, then fo...
Read Post [Posted on 10/02/2014 By Garrett McWhorter]
Walkway lighting, colorful plantings, and a tidy lawn are all features of good landscaping. And if you're selling, this kind of curb appeal can cut your home's time on the market by 10% to 15%. Image: August Landscape DesignIf you’re thinking of sprucing up your yard, install what you love; but also pick upgrades that will increase your home’s value and, someday, attract buyers.The new “2014 ...
Read Post [Posted on 10/02/2014 By Garrett McWhorter]
The Appraisal ProfessionWhat is an Appraisal?An appraisal is a professional appraiser’s opinion of value. The preparation of an appraisal involves research into appropriate market areas; the assembly and analysis of information pertinent to a property; and the knowledge, experience, and professional judgment of the appraiser. . Appraisals may be required for any type of property, including single-...
Read Post [Posted on 09/24/2014 By Garrett McWhorter]
Understanding how appraisals work will help you achieve a quick and profitable refinance or sale.If you think the appraisal value of your home is too low, you can seek a second opinion. Image: David Sacks/Lifesize/Getty ImagesWhen you refinance or sell your home, the lender will insist that you get an appraisal—an opinion of the value of your home based on what similar homes in your area have sold...
Read Post [Posted on 09/18/2014 By Garrett McWhorter]
Before you put your home up for sale, understand how the right comparable sales help you and your agent find the perfect price.A house is comparable to yours in price if it's in the same neighborhood, on a similar street, and in the same school district. Image: image100 Photography/VeerHow much can you sell your home for? Probably about as much as the neighbors got, as long as the neighbors sold t...
Read Post [Posted on 09/18/2014 By Garrett McWhorter]
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