How have mortgage rates affected the market?
The market continues to have forces pushing up against each other. I recently did a study of monthly payments with different mortgage rates. A year ago mortgage interest rates were 3% and now they are at 7% for a 30 year fixed.
A Home Appraiser’s Sales Comparison Approach to Determine Fair Market Value
As a real estate appraiser, I’ve been asked many times what my approach is to determine fair market value. While there are three main approaches to value (income, cost, and sales comparison), for residential appraisals the sales comparison approach is almost always used. The other two approaches are more often used for income producing properties and unique structures.
What’s the Difference Between a CMA and an Appraisal Report?
You are thinking about selling your home and you don’t have a good idea about the fair market value. There are several ways you can obtain more information.
How to Prepare for an Appraisal
The real estate appraisal is a key component to any purchase or refinance transaction. Some people fear of the dreaded low appraisal, since it could essentially cause a deal to fall through, however there are a number of ways you can plan and prepare to make your home’s best impression.
Is Zillow’s Zestimate Accurate? - Appraiser Answers
Would you ever leave the value of your home to luck? Maybe I’ll list my home at $10,000,000 and see if I get lucky.
Pre-Listing Appraisal – Do You Need One?
You’re thinking about selling your home but you don’t know how much it is worth. You can jump on Zillow and Trulia, but how reliable are they?
Scotch Plains Real Estate By The Numbers - updated to 2024
Are you interested in learning about the current local real estate market or perhaps considering moving to or leaving Scotch Plains? The information below can be helpful for your own knowledge or with making decisions.