Sunstone Real Estate Group at Coldwell Banker Realty, Lake Havasu City, AZ

You found a buyer for your Lake Havasu home. Congratulations! Now, you enter escrow. A home inspection and/or appraisal usually get done during this time. Unless your buyer pays for the home with all cash, they probably need a home loan. Banks require an appraisal as part of the home loan process. They will not approve a loan for more than its appraised value. But even if the buyer pays with all cash, they may still want an appraisal done. Therefore, you need to make sure your property is in tip-top shape before the appraiser comes. Use this home appraisal prep list to ensure that your home looks its best.

Home Appraisal Prep List
Fix It
We all grow used to how certain things operate in our Havasu homes over time. The front doorknob rattles. You need to lift the sliding glass door handle slightly in order to open it. The faucet drips from time to time. While you overlook these things, an appraiser will not. Don't forget to fix any problem areas around your home.
A Little Spackle. ...

Sunstone Real Estate Group at Coldwell Banker Realty, Lake Havasu City, AZ
Originally posted on our Lake Havasu real estate blog here: http://www.sunstonerp.com/lake-havasu-market-report-july-2021/. ...

Mark Twain famously said "Buy land. They're not making it anymore." The Balance says that buying real estate is a good way to round out your investment portfolio, especially for the long term. One of the reasons is because you can build equity in it from the moment you take ownership in most cases. How does that work? Is it possible to boost it even more? The answers to these questions and more can be found below.
How Does Equity Work?
What Is It?
First of all, it helps to know what it is. Basically, experts define equity as the difference between what you owe on your mortgage and your property's current market value. When you originally purchased your property, you included a down payment. That ranges anywhere from 3% to 20%. Let's say you paid $120,000, with 10% as your downpayment. At the time, you bought your Lake Havasu home for the fair market value of $120,000. That means that your equity at that time was $12,000.
As time went on, your mortgage balance went down as your fai. ...

Sunstone Realty Professionals, Coldwell Banker Residential Brokerage, Lake Havasu City, AZ
Originally posted on my Lake Havasu real estate blog here: http://www.sunstonerp.com/lake-havasu-market-report-june-2021/. ...