With all of the changes enacted in real estate and related industries, the appraisal process has not been immune.  Because lenders were found to be pressuring the appraisers they hired, banks now must largely work with independent appraisers, and they’re finding themselves buried in a backlog of jobs.

Because of their workloads, appraisers will gladly consider any information you can provide about your property, and will hopefully generate a more accurate report.  As a seller, list the best features of your home, including recent improvements, professional landscaping, or even benefits of your location (like access to public transportation and schools).

While you won’t necessarily be graded for your housekeeping skills, appraisers do pay attention to the very appearance and cleanliness of your home.  You can positively affect your appraisal’s outcome if your lawn is mowed or raked, your windows sparkle, and your closets look spacious.  Appraisers are practically looking through the buyer’s eyes, so pretend you’re preparing for an open house before their arrival.

Finally, be sure to request a copy of the report, because lenders are required to provide it, but you’ve got to ask.  If you find any errors in important features like square footage or property description, contact the appraiser directly.  Let the lender and your agent know, too, but understand that they cannot take any direct action under the new rules.

If you are in need of real estate guidance, please call or stop by our office and a Kingsley Real Estate Associate Broker will be happy to help you.  If you prefer, you can email me at donkingsley@kingsleyrealestate.com and I’ll be happy to share my knowledge with you at no cost or obligation.

In today’s real estate climate, you want to be sure to take all the necessary steps to squeeze every possible penny out of the sale of your home.  Small oversights or missteps can be costly when it comes to your bottom line.  However, there are some common mistakes that are easily avoidable if you listen to the experience and advice of your Kingsley Real Estate agent.

One error that can cost you is to put your home on the market before it is truly ready for presentation.  Image is everything, so get all the cleaning, painting, patching, and lawn care done well in advance of your first showing.

Another costly stumbling block involves your initial listing price.  Remember that you control the asking price, but not the selling price - that is finally determined by the buyers and what the market will bear.  Try to detach yourself emotionally from what you want to net, and price your home aggressively against your competition, right from the beginning.

Emotional attachment can keep you from perceiving and presenting your home as what it now is, a commodity.  Present it, market it and price it as you would any new product on the market.  Your agent will make sure it gets exposure to the right demographic, and will help you avoid costly errors along the way to a successful closing.

If you would like to speak to me or one of our full-time Associate Brokers about selling your home, please stop by our office, call or email and we would be happy to share our knowledge with you. 

Phew!  After four years of declining home sales, the numbers appear to be finally turning back upward, with closed sales and pending contracts at above-normal increases.  In particular, first-time buyers helped buoy the market by taking advantage of low prices and interest rates, as well as the $8,000 tax credit offered by the federal government.

At least for now, home prices remain attractively low, and mortgage payments as they relate to income are very comfortable.  All the information seems to point to the fact that home prices have actually overcorrected downward.  What does that mean?  It indicates that many markets may experience a price “snap back,” with values increasing a lot more than the historical average of 4% appreciation per year.

Some factors may continue to make buyers cautious, mostly declines in retirement savings and a lukewarm economic recovery with unemployment hovering around 10% nationally.  Now is not the time to hesitate, however, as mortgage interest rates are expected to rise in 2010.

We can expect the momentum of home sales to continue, especially with the extension of the tax credit through April and the fact that qualification is no longer limited to just first-time buyers.  Prices and interest rates will rise this year, so buyer confidence should be at an all-time high.  The pressure cooker of pent-up demand is about to blow its top!

If you are looking to get in on the action and buy a house reaping the tax credit benefits or need to sell your home, call or stop by our office and I will be happy to share my knowledge with you at no cost or obligation.  If you prefer, you can email me at donkingsley@kingsleyrealestate.com.