What to do when an appraisal comes back lower than the negotiated price.
Banks require appraisals to verify that a home’s sale price is supported by its market value and won’t issue a loan for more than the appraised value. A low valuation can cause quite the dilemma when an appraisal comes in below the negotiated price. Of the real estate agents surveyed by the National Association of Realtors, 9 percent said a contract was delayed because an appraisal came in below the negotiated price, 15 percent said a contract was renegotiated to a lower price, and 11 percent said a contract was canceled as a result of a low valuation. Don’t let a low valuation ruin your deal. There are several things buyers and sellers can do if an appraisal is lower than the price originally agreed upon.Read More »
As the days change from long and sunny to short and crisp, it becomes time to pack away those shorts and and stow the squirt guns. If you’re putting your home on the market this fall season, it is necessary to cut the clutter. This means swapping out summer clothes and toys around the house for ones appropriate for the cold weather ahead. Pack away summer and keep your home ready to show at a moment’s notice.Read More »
Get on the phone, call or text your REALTOR and list that house! That’s right, if you’ve been thinking about selling and have been waiting for the right time to sell your house, this is the best it’s been in a while. With interest rates at basement bottom numbers and a tight housing inventory, buyers are out there ready to spend money and your house may be exactly what they’re looking for.
Sellers are finding themselves with a sold sign on their lawns in less than three months, according to the latest housing report data from the Minnesota Association of REALTORS® (MNAR). Homeowners only required an average of 84 days to sell their home in April of 2013 three weeks less than the same time last year. This is the fastest homes have been selling since 2007.Read More »
On the flipside of the traditional Victorian style home, the Craftsman or Bungalow style home evolved. Dismissing the frills of Victorian, the Craftsman style was introduced by architect Augustus Pugin and artist-designer William Morris appealing to more modest and simple tastes.
Event will showcase local inventory available right now for prospective buyers
Buyers are competing for low housing inventory in Minnesota as the spring and summer home-buying season gets underway. With such a competitve housing market, buyers are looking to the experts for guidance. Local Minnesota REALTORS® Associations are teaming up with Associations across the country and will host thousands of open houses during REALTORS® Nationwide Open House Weekend, April 20 and 21.
First impressions are made at the front door. Before buyers see the staged home, smell the cookies baking, or hear the pleasant music, they drive up and see the front entrance. The color of your front door and how orderly your garden is says more than you may think. Potential buyers drive by, and your home entrance may encourage them to stop and schedule a showing or to keep going by.Read More »