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5 Factors to Think About Before Buying Property

February 28, 2017

Massachusetts property is now becoming popular these days. A lot of people want to purchase them because of the low price. The price rate of properties dramatically decreased due to many reasons. Recession is one of the reasons why properties drastically declined. Buying a residential real estate at Massachusetts is better than renting a house. Purchasing another property like new house is exciting to some degree particularly if you are that sort of person who lease a house for a long time. In any case, before purchasing another property there is sure things that you should need to consider. This is vital for you to accomplish your fulfillment at its greatest. Listed below are things that you need to consider when buying property: 1.  Location of the Property You need to choose in advance the area where you where you like to live and stay. Consider the best place that

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The Value of The Home owner

December 26, 2016

Its fairly common to here about how appraisers briefly view the home and then they are gone. It is to be noted that most of the work begins after the inspection of the property, but the value of the homeowner should not be excluded. The most valuable information you will receive about a property besides public record data is the information from the homeowner. Being able to speak to them regarding the property that may not be as apparent upon a visual inspection can be extremely helpful. Often times, homeowners have records of the maintenance done on the property and a list of all upgrades as well. Some of these valuable “tidbits” may go unnoticed upon inspections. It provides that added value to a credible appraisal report. Taking the time to get to build rapport with the homeowner is a vital part of our property inspections. Its an integral part of our

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A La Mode’s MLS Importing Tool – Par with Datamaster?

December 16, 2016

This is not to endorse Alamode, but their constant ability to solve appraiser quagmires is simply amazing. The MLS importing tool is a tool to benefit from when using TOTAL. On the surface, the idea of taking everything from MLS and importing it would appear to be a mistake, but that doesn’t have to be how its utilized. Of course you will review the data entered always but this tool allows for instant importing to the sales grid. No need to worry about mistyping an MLS number or an address because its taken directly from the file.  Once you have selected a file, you will need to create a template. Importing everything isnt necessary and really not recommended. There are certain fields that require specific formatting. Whether that be personal preference or client specific, these “personalizations” are a reflection of our product or just a necessity. What’s impressive is A la mode has

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Why Do Appraisers use Comparables To Value My Home?

December 11, 2016

So why do appraisers use comps to arrive to a certain value for a property? There are three approaches to valuing real estate and the Sales Approach is what lenders typically require and is typically the most sensible approach to valuing residential property. The whole premise of the sales approach is that the subject home is compared to other homes that would possibly be an adequate substitution for that property. Meaning, would that buyer consider these comparable (comps) as a suitable alternative? An an ideal situation (this can happen in certain subdivisions, tract homes, condos, etc), an appraiser may find an identical match. They then would compare what that sold for and use that as a reference for valuing your property. If the market has changed since the property has sold, an adjustment may be warranted. Essentially, an appraiser has only certain sales to utilize (preferably recent sales) and comparables will

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Help! The Appraiser Gave Insufficient Adjustments For My Improvements

November 29, 2016

“Help! The appraiser didn’t give sufficient value to the improvements to my home.” This is quite often a homeowner’s retort to a lower-than expected appraised value of their home. Homeowners are very proud of their home as well as the improvements made. An appraisers job (per the scope of work usually provided by the lender) is to find comparable homes to the subject. Because in reality, no two homes are identical, the appraiser will bracket items such as condition, quality, etc. So how does this allow for an appraiser to adjust X dollars for my improvements?  Well an over simplification is that the appraiser’s goal is to find what the market is yielding for such an improvement. The cost of an improvement isn’t necessarily what prospective buyers are willing to pay for such improvement. Its quite rare for cost and value to be the same. Appraisers quite often utilize techniques

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