David Deem 714-997-3486 Dave@DeemTeam.com In today’s real estate market, low inventory and high demand are driving up home prices. As many as  54%  of homes are getting offers over the listing price, based on the latest  Realtors Confidence Index  from the  National Association of Realtors  (NAR). Shawn Telford,  Chief Appraiser  at  CoreLogic ,  elaborates : “The frequency of buyers being willing to pay more than the market data supports is increasing.” While this is great news for today’s sellers, it can be tricky to navigate if the price of your contract doesn’t match up with the  appraisal  for the house. It’s called an  appraisal gap , and it’s happening more in today’s market than the norm. According to recent data from  CoreLogic ,  19%  of homes had their appraised value come in below the contract price in April of this year. That’s  more than double  the percentage in each of the tw...

  David Deem 714-997-3486 Dave@DeemTeam.com By  Bill Gassett The home appraisal process can be a stressful time, whether you're buying or selling a property. It's the job of the appraiser to find the fair market value of the home. If their findings don't match the buyer's offer, there can be delays in the transaction. But if you know what appraisers look for, you might be able to prevent your house sale from running into problems. The appraisal will be one of the bigger hurdles to clear in your sale so it will be important to have an understanding of how they work. Pricing your home accurately from the start will lead to the best results. In order for your home appraisal to get the results needed for the sale to close, it's important to know what appraisers look for: Appraisers Look at External Factors Around Your Home The appraiser that visits your home will have been certified to operate in the state. They'll probably be using the Uniform Residential Appr...

David Deem 714-997-3486 Dave@DeemTeam.com Are you considering making a big change to your home? Maybe adding a deck, replacing the roof or expanding your kitchen? One of the hardest parts of deciding whether or not to move forward on a home reno project is determining the return on your investment in terms of your home’s value. Here’s where an appraiser may be able to help. According to the Appraisal Institute—a national, professional association of real estate appraisers—homeowners should choose wisely when it comes to renovations in order to maximize return. The right upgrades can pay dividends when it comes time to sell your home, helping your home sell more quickly and for the greatest possible price. Smart home renovations can also help drive up the values of homes nearby, increasing the overall market value of your neighborhood. One of the most common mistakes to avoid is “over-improving,” says the Appraisal Institute. Embarking on renovations that are above and beyon...