Thursday, February 17, 2022 / by Steve Ticknor
You’ve found your dream Havasu home and now it’s time to cross all your T's and dot all your I's before it’s all your own. One of the first items on your closing checklist is the home appraisal. So, what exactly is that?
Your Guide to Your Home Appraisal in Lake Havasu
The home appraisal is essentially a value assessment of your Lake Havasu home and property. It is conducted by a certified third party and is used to determine whether the home is priced appropriately.
What Happens During an Appraisal?
During a home appraisal, the appraiser conducts a complete visual inspection of the interior and exterior of the home. He or she factors in a variety of things, including the home’s floor plan functionality, condition, location, school district, fixtures, lot size, and more. An upward adjustment is generally made if the home has a deck, a view, or a large yard. The appraiser will also compare the home to several similar homes that were sold within the last six m. ...
Thursday, May 27, 2021 / by Steve Ticknor
High buyer demand and a low housing inventory continue to spur on our hot Lake Havasu seller's market. Many sellers often receive multiple offers on their property from several buyers. Every month, we see sale prices climb higher and higher. But that does not mean that you can list your Havasu home for whatever price you want and expect to automatically receive it. How do you determine what to ask for your home? You should take into account the appraised value as well as its fair market value. While you might think they are the same thing, they are actually different.
Appraised Value vs Fair Market Value
The appraised value (AV) is determined by an independent third party (the appraiser). First, the appraiser comes out and takes visual stock of the condition of your Lake Havasu home. They also consider the total square footage of both the home and the lot, its location, the number of bedrooms and bathrooms, features, fixtures, etc. Then, they look at recently sold pr. ...