Real Estate FAQ

Often confused, an appraised value is only done by a real estate appraiser. These people inspect your property and provide a professional appraisal for how much your home is worth. In contrast, market value is a price that’s agreed upon by buyers as they assess your property and decide what price it should be by how much they are willing to pay for it.

Before anything else, you’ll have to do a little research when it comes to finding the perfect home. What’s your credit score? How’s the current housing market? How much do you need for a down payment? Should you sell your home before buying? It may seem like a lot to handle up front, but with all your questions answered and a quality real estate agent at your side, you can rest easy knowing you will soon have a home you love, and at a great price.

While it is not legally required to have homeowners insurance, many mortgage lenders will require you to have it if you are planning to finance through them. Homeowners insurance is a great way to protect your home and assets from any potential loss or damage.

Also known as a property disclosure, a seller’s disclosure is a legal document in which sellers are required to let potential buyers know details about the property’s condition that they may not know. This could include anything from environmental issues, termite damage or anything that could impact the property’s value. Not only is this important for potential buyers, but this also protects sellers from any lawsuits that may arise down the road.

Though it is not required, as a buyer, you are highly encouraged to do a final walkthrough of the property they are planning to purchase. This will give you a chance to make sure everything is in working order and that no last-minute changes or problems happened while the previous owner was vacating.

A buyers market is when supply exceeds demand — there are more houses for sale than people willing to buy them. This will often result in sellers dropping their asking price so their home is more appealing to buyers in a larger than normal market. Furthermore, sellers may also be open to more negotiations to prevent interested buyers from walking away from their property.

There are several ways you can build equity in your home, including increasing your home’s property value, decreasing your mortgage debt or using a combination of both. While there are a number of ways to do it, many people build equity by increasing their down payment, making bigger or additional mortgage payments and refinancing their loan.

To set your listing price, you should begin with an accurate home estimate, then create a Comparative Market Analysis to compare recent sales in your area. Your price should also help you stand out among your competitors, falling into popular online search ranges. Since there are a lot of details that go into listing your home, we suggest speaking with a qualified real estate agent for help and to avoid common house listing mistakes.

We use Next Door Photos for all photography. They are a local company that has a wide range of options and tools to make each house look its best.

We use a variety of marketing options including professional photos, blasts on social media, neighborhood mailers and directional signs. Based on your home or neighborhood, we will use a variety of marketing strategies to ensure your listing is seen as one of the top competitors.

Unlike a buyer’s market, a seller’s market occurs when demand exceeds supply — there are a lot of people wanting to buy a home and not a lot of homes for sale — giving sellers the advantage. During this time, homes tend to sell faster and at a higher price than initially asked for, and buyers are forced to accept homes as-is. This market can often lead to bidding wars as well.