Thursday, August 26, 2021 / by Steve Ticknor
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
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. ...
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. ...