REAL ESTATE APPRAISERS: ADDING WORTH TO YOUR PROPERTY FOR SALE

When it comes to property for sale, it would be great to set a price based on what you think your own home is worth, but the bank will likely want something more objective before it's ready to match that price with a mortgage for a homebuyer. And that's where the appraiser comes in.

An appraiser acts as a kind of middleman who assesses homes by their condition and by how they compare to other similar homes in the area. Though real estate appraisers work off of checklists that measure real values in a property for sale, they also have experience and training in raising or lowering the home price based on what buyers want and on how sellers have cared for or neglected their properties.

Real estate appraisers are professional skeptics. They will seek to verify anything that you tell them from other sources. They often ask questions that they already know the answer to just to test the credibility of the people showing them the property. Real estate appraisers are always thinking about how they will defend their opinions if they are ever brought to court, even in assignments in which litigation appears unlikely. If you misrepresent anything, the real estate appraiser will discount the credibility of anything else that you say.

A real estate appraiser also does feasibility studies to assist home owners before starting home remodeling and renovation work or when they have a property for sale. The real estate appraiser conducting the study analyzes the condition of the property for sale and the cost of the renovations. The appraiser will then prepare an estimate of what the property's value will be after the improvements are made. This information will enable the homeowner to not spend too much or too little money with the renovations.

When having a property for sale it is best to choose value over cost and price. Value is not necessarily equal to cost or price. Cost refers to actual expenditures; for example, materials and labor. Price, on the other hand, is the amount that someone pays for something. While cost and price can affect value, they do not determine value.

Tam Bay Realty LLC

1408 N West Shore Blvd Suite 1000 Tampa, FL 33607

(813) 908-0706

http://www.tam-bayrealty.com

http://www.businesslocallistings.com

ASK A REAL ESTATE APPRAISER WHEN YOU HAVE A PROPERTY FOR SALE

Your house is probably the biggest single investment you've made. When relocating you'll want to make sure it's appraised properly so you get the best return on your money. A key factor in that equation is the real estate appraiser.

Learn about the real estate appraiser’s experience. Verify the real estate appraiser's experience working with homeowners. This is important because loan officers usually have different requirements than individual homeowners. Loan officers are typically looking for an assessment of the condition of the property for sale and a rough market value to put on the mortgage documents. Homeowners may have questions about the appraisal process itself and may ask the appraiser for tips on how to improve the valuation.

Look for a real estate appraiser that specializes in your market area. An appraiser from another county may not be as knowledgeable as a local real estate appraiser would be. Some appraisers service two or three counties while others specialize in a single county. It would only be reasonable to consider the local real estate appraiser would have more firsthand knowledge of the area.

Know about the value of your property for sale. Be sure to ask for a copy of the appraisal. Unless you hired a real estate appraiser yourself you won't automatically get a one. If the bank hired the appraiser then the bank is the client, even though you're paying for the appraisal. By law you have to be given a copy if you ask for it.

Never hesitate to confirm. Ask questions based on your property for sale needs. For example, if you need to determine the value of your home for a property tax appeal, you want a consumer appraiser familiar with your county's methodology. You need someone who understands how neighborhood variables and other environmental factors influence property values in your area.

Request recommendations from family and friends. Since an appraisal is typically part of the sale process, they are usually familiar with local real estate appraisers as they have been through the same process before. Ask them to suggest appraisers who have proven to be reputable.

Tam Bay Realty LLC

1408N West Shore Blvd Suite 1000 Tampa, FL 33607

(813) 908-0706

http://www.tam-bayrealty.com

http://www.businesslocallistings.com

Things Your Real Estate Appraiser Will be Looking At—Be Prepared!

Any home that’s on the market will be appraised by a real estate appraiser. As long as there’s a third party lender involved in the transaction, an appraisal is inevitable. This is because an appraiser determines the real value of the property for sale. You can get lucky if you’re appraiser puts your property at a high value, since you can sell it for a higher price too.

However, an appraiser can also pull down the value of your property. This is why it is important to know what a real estate appraiser looks at and prepare your property for it. The appraiser will base his calculations on the market as well as what he can assess from your home. He or she will make a detailed report about it so you need to be prepared. Here’s what you should focus on:

·         Property Exterior- The appraiser will look for damages in construction and components. A single problem on the foundation or the roof can easily bring down the value of your property for sale. Always keep in mind that the appraiser will provide the information to the lender and if the lender doesn’t like the property, there will be no equity for the buyer.

·     Size- The bigger the property and the home, the better it is when appraised. The more bedrooms and bathrooms there are, the higher the value of the home will be. Square footage of a home is a huge factor in coming up with the appraisal value for the property for sale.

·    Interiors- You have to make sure that every part of your home is in good condition including the plumbing, the electrical system, windows, doors, floors and walls. The appraiser will even look at your appliances as well as light fixtures.

·  Home improvements- A real estate appraiser will give you plus points for home improvements. This is because buyers and lenders like quality renovations that increase the property’s value. Kitchen and bathroom renovations are on top of the list.

·      Other things- The appraiser will also look into the other things inside your home, things that make the property extra special. If you have a swimming pool, that adds value to the property for sale. That goes the same with backyards, patios and gardens.

Every little part of your home and property will come into play when a real estate appraiser visits your home. To put it simply, show the appraiser that your home is valuable and worth the equity. When the appraiser sees it, the lender won’t hesitate giving the cash.

Tam Bay Realty LLC

1408 N West Shore Blvd Suite 1000 Tampa, FL 33607

(813) 908-0706

http://www.tam-bayrealty.com

http://www.businesslocallistings.com

Prepping a Property for Sale

Estimating the value of a residential property is important to a variety of endeavors, including financing, listing property for sale, investment analysis, insurance and others. A main consideration in appraising residential property is determining its value. The present worth of future benefits arising from the ownership of the residential property. Unlike many consumer goods, residential properties increase in value over a long period of time.

When putting up a property for sale sign, make sure to do a little work before and open house. The most simple of all tasks yet it can make a huge difference to your residential property is de-cluttering. Potential buyers want to view spacious and tidy homes, as they need to be able to imagine their own possessions in the property and by having too many items out on show this prevents them from being able to visualize this. Make sure to remove unwanted items out of view by sorting and clearing out. Depersonalize to reduce distractions.

Pack up those personal photographs and family heirlooms. You want buyers to imagine their own photos on the walls, and they can’t do that if yours are still there. A property for sale is best when looking fresh and neutral. By keeping the décor neutral, you are also more likely to appeal to the majority and entice more buyers which will ultimately help you sell your residential property faster. As well as this, the property for sale will feel brighter and more spacious giving the appearance of a more organized home.

Lastly, a residential property that has a deep clean can make a difference, eliminating pet hair on the furniture or the carpets is a good start, it is also a well-known fact that bad smells and odours are the biggest turn offs to your residential properties. Certain smells such as cigarette smoke, pet food or mold can linger on fabrics and whilst you may have grown accustomed to them over time, but your clients will not.

So before you put up your property for sale, don’t be afraid to make some research and ask for professional assistance because having a more detailed advice will help you sell your residential property and beat the local competition faster.

Tam Bay Realty LLC

1408 N West Shore Blvd Suite 1000 Tampa, FL 33607

(813) 908-0706

http://www.tam-bayrealty.com

http://www.businesslocallistings.com

How Can Real Estate Appraisal Affect the Value of Your Home for Sale?

In Tampa, there are so many properties that are up for grabs. However, sellers of properties have to make sure that they get the right amount of money for the property for sale they are giving up. They can’t simply just say a price. The property has to undergo appraisal first.

What is a real estate appraisal? It is a report based on the inspection of home regarding its value. It is an estimate based on the opinion of the appraiser.

There are three ways to do a property for sale appraisal in Tampa. The first is the cost approach, where in the appraiser will evaluate the property based on cost of renovations and improvements and deducts depreciation then adds land value. The second is sales comparison approach which is comparing nearby houses for their values. This is the most used approach since it usually indicates the market value of the property. The last is the Income approach, in which the appraiser will make an estimate based on how much an investor would pay based on how much money the property would earn him.

A real estate appraisal will hugely depend on the appraiser himself. While it is based on his opinion, he should still be able to back his estimate up with substantiated assessment and objectivity. Appraisers will make an appraisal report for the Tampa property for sale and indicate how he came up with the value.

Appraisals are highly important for people who’d finance the property through mortgage. The lender needs the appraisal report to help decide if it’s worth financing. However, there are plenty of other reasons why you’d want a real estate appraisal for your Tampa property for sale.

For one, it helps determine your tax obligations and fight high taxes. It can also help the property owner determine the real value of his home in the real estate market. This also goes the same for a buyer who wants to know if he is buying the property at the right value.

Nevertheless, don’t confuse a real estate appraisal from a home inspection. A home inspection investigates the home. It will check the house’s condition, structure and basically, every physical thing about the home itself including the HVAC system, plumbing, electrical systems, walls, ceilings, insulation and etc. An appraiser doesn’t do this. A home inspector doesn’t give an opinion of value for the property.

Tam Bay Realty LLC

1408 N West Shore Blvd Suite 1000 Tampa, FL 33607

 (813) 908-0706

 http://www.tam-bayrealty.com

http://www.businesslocallistings.com

Could Selling A Tampa Bay Residential Property Online Benefit You?

You want to sell your Tampa Bay residential property and finally, maybe, get a return on your investment. It’s highly like you will because Tampa has great properties that people want to invest in. But you wonder: will it be better to sell it yourself or hire a realtor to do it?

Actually, you can do a mixture of both to get the maximum exposure for your property for sale. You can opt to sell the Tampa Bay residential property online so it can be easier, while your realtor can handle doing the sale offline.

Selling online is highly beneficial for anyone buying or selling property for sale. For one, it is easy to do. Just post the ad on a real estate property website and just wait for inquiries. Then there’s the benefit of being able to reach people all over the world, which is hard to do when you just advertise in your location.

So, how do you sell a Tampa Bay residential property online?

·         Find a website that you can post ads for free. There will be plenty to choose from online. However, look for a site with a high search engine rating. This means that the site is highly searched by internet users. Hence, more searches mean more views and more probable buyers.

The site should also be visitor-friendly with easy navigation. People don’t like searching in sites that are confusing and can take up so much time navigation. Search filters and categories should be clear. Also, read reviews about the site to make sure that it only allows quality listings.

·       Post your ad. This includes the photos, descriptions and any other detail about the property for sale. Make sure the details are always updated.

·         Post your ad on online classified ads, too.

·      Use social networking sites to advertise your property for sale. The great thing about social networking sites is that you not only show the ad to your contacts, but they can also share your posts with their friends, which can create a web of network for you easily and for free too!

Monitoring ads and responding to inquiries online can take up your time, if you’re that busy. This is where hiring a real estate agent becomes handy too. They can also manage your ads for you and take care of talking to possible buyers and investors. Well, they can offer to make the ads for you as well.

Selling a Tampa Bay residential property online shouldn’t be difficult at all, you just have to take the right steps to get ad exposure and attract the right kind of investors or buyers. In any case, an experienced and knowledgeable realtor will always come in handy.

Tam Bay Realty LLC

1408 N West Shore Blvd Suite 1000 Tampa, FL 33607

(813) 908-0706

http://www.tam-bayrealty.com

http://www.businesslocallistings.com