HomeplexNation, LLC is a Coral Springs, Florida based real estate solutions company. We create solutions for property owners that need to sell quickly. Our service is not limited to houses. We also purchase condos, multi-unit buildings and commercial properties. Visit us at http://www.HomeplexNation.com
Thursday, December 31, 2009
Tuesday, December 29, 2009
Selling a home in the new year? Don't delay
Selling a home in the new year? Don't delay -- South Florida Sun-Sentinel.com
HomeplexNation helps homeowners that need to sell quickly. Learn about our TRUEoffertm. Click here to learn more.
HomeplexNation helps homeowners that need to sell quickly. Learn about our TRUEoffertm. Click here to learn more.
Monday, December 28, 2009
Home equity lines have dried up across U.S.
Borrowing on the home for quick cash is a lot harder than it used to be in the United States, and it's causing headaches for homeowners, banks and the economy. Full story
Sunday, December 27, 2009
Home sales are rising so why are home values still falling?
If you have been watching the news lately you have no doubt been hearing the media outlets spin real estate related stories into positive news. As a result, most people are wondering if home sales are up then why are home values still falling? The simple answer is rising unemployment. For example, Florida's unemployment rate has risen to 11.5%. This translates into more than one million Floridians out of a job. So, if half of those unemployed were able to get jobs and ten percent of those purchased a home, that would equate to 50,000 home sales. As you can see, until we figure out a way to put people back to work, home values are going to continue to fall.
So, what about the soaring home sales? The Florida Association of Realtors reported that there were 707 re-sales in Broward County in November 2009, a 39% increase from a year earlier. In other words, 200 more homes were sold this November than last and the news headlines were "Home sales skyrocketing!" What I find more interesting is what the media failed to include in their report. The fact that there were about 7,500 listings in the Broward MLS and less than 10% of homes available for sale were actually sold.
While an increase in home sales is positive, it is equally important to put things in perspective and to understand what is really happening. Unfortunately, with more people out of work, means that more people will be unable to afford their homes. This is going to increase the inventory of unsold homes which will continue to push down values.
HomeplexNation offers free assistance to homeowners. We can help you understand the foreclosure laws of your state and explain your options. If you need to sell, learn about our TRUEoffertm. Click here to learn more.
So, what about the soaring home sales? The Florida Association of Realtors reported that there were 707 re-sales in Broward County in November 2009, a 39% increase from a year earlier. In other words, 200 more homes were sold this November than last and the news headlines were "Home sales skyrocketing!" What I find more interesting is what the media failed to include in their report. The fact that there were about 7,500 listings in the Broward MLS and less than 10% of homes available for sale were actually sold.
While an increase in home sales is positive, it is equally important to put things in perspective and to understand what is really happening. Unfortunately, with more people out of work, means that more people will be unable to afford their homes. This is going to increase the inventory of unsold homes which will continue to push down values.
HomeplexNation offers free assistance to homeowners. We can help you understand the foreclosure laws of your state and explain your options. If you need to sell, learn about our TRUEoffertm. Click here to learn more.
Saturday, December 26, 2009
November new home sales sink 11 percent
You thought the worst was over? Not so fast. November new home sales sink 11 percent
Thursday, December 24, 2009
Mortgage modification experts say it still will be tough to get revised loans in 2010
Mortgage modification experts say it still will be tough to get revised loans in 2010
HomeplexNation has partnered with Homeowners Relief and Resolution Partnership and provides free consulatation to any homeowner that is interested in learning if a loan modification is right for them. Click here for more information.
HomeplexNation has partnered with Homeowners Relief and Resolution Partnership and provides free consulatation to any homeowner that is interested in learning if a loan modification is right for them. Click here for more information.
Tuesday, December 22, 2009
Foreclosure options
If you're one of the millions of homeowners facing foreclosure you have options. The key to successfully emerging from foreclosure is by taking quick decisive action. Regardless of where you live, when a foreclosure action is filed you have a limited amount of time to save your home. The amount of time depends upon where you live. For example, Georgia homeowners only have 30 days while New York homeowners have about 12 months, but must appear in court within 20 days. Therefore, your first step is to contact your lender. In the meantime, here are some options that are available:
Forbearance
The lender agrees to delay the foreclosure to allow the borrower to catch up with their mortgage payments within a specified time. This is commonly used where the borrower's financial limitation is temporary.
Repayment Plan
The lender agrees to let you catch up by creating a schedule of payments to repay the past due amounts. This is commonly used when the borrower had a temporary financial problem that caused the foreclosure but is now able to make mortgage payments.
Loan Modification
The lender agrees to modify the terms of your mortgage to lower your mortgage payments. This is commonly used when the borrower's mortgage payments increased due to an increase in the adjustable interest rate.
Loan Refinance
The lender agrees to refinance the borrower's loan. The borrower must be able to qualify for the new loan. This is commonly used when the borrower takes action prior to missing payments and has strong credit.
Selling Your Home
If you're financial problems are more serious and are no longer able to afford your home it may be time to consider selling your home and moving to more affordable housing. If you're able to sell your home and avoid a foreclosure on your credit report you will be able to purchase another home in the future when your financial condition improves.
Deed-in-lieu of foreclosure
If you're unable to sell your home your lender may agree to allow you to transfer the deed to them to avoid the impact of a foreclosure on your credit report.
HomeplexNation offers free assistance to homeowners. We can help you understand the foreclosure laws of your state and explain your options. If you need to sell, learn about our TRUEoffertm. Click here to learn more.
Forbearance
The lender agrees to delay the foreclosure to allow the borrower to catch up with their mortgage payments within a specified time. This is commonly used where the borrower's financial limitation is temporary.
Repayment Plan
The lender agrees to let you catch up by creating a schedule of payments to repay the past due amounts. This is commonly used when the borrower had a temporary financial problem that caused the foreclosure but is now able to make mortgage payments.
Loan Modification
The lender agrees to modify the terms of your mortgage to lower your mortgage payments. This is commonly used when the borrower's mortgage payments increased due to an increase in the adjustable interest rate.
Loan Refinance
The lender agrees to refinance the borrower's loan. The borrower must be able to qualify for the new loan. This is commonly used when the borrower takes action prior to missing payments and has strong credit.
Selling Your Home
If you're financial problems are more serious and are no longer able to afford your home it may be time to consider selling your home and moving to more affordable housing. If you're able to sell your home and avoid a foreclosure on your credit report you will be able to purchase another home in the future when your financial condition improves.
Deed-in-lieu of foreclosure
If you're unable to sell your home your lender may agree to allow you to transfer the deed to them to avoid the impact of a foreclosure on your credit report.
HomeplexNation offers free assistance to homeowners. We can help you understand the foreclosure laws of your state and explain your options. If you need to sell, learn about our TRUEoffertm. Click here to learn more.
Monday, December 21, 2009
Sunday, December 20, 2009
Avoiding Foreclosure Scams
If it weren't bad enough that so many people are facing the prospect of losing their homes, they also have to watch out for people trying to scam them out of their home too. It's unfortunate, but true.
Here are some popular scams that you need to watch out for:
Scam # 1: Sale-Lease-Back
The sale lease back works like this. An unscrupulous investor offers to buy your house and agrees to lease it back to you. This way you don't have to move. Sounds good doesn't it? That's why there are so many victims. The problem is that the investor really wants the house. They will usually charge you market rent and wait until you can't pay so they can evict you. Another way they lure you in is with below market rent and then eventually raise it until you can't pay so they can evict you. Get the picture? Their goal is to evict you. That's why this option is illegal in many states.
Scam #2: I can stop foreclosure for a fee
This is another popular one. Another unscrupulous investor type knocks on the door with some official looking forms and tells the homeowner they can stop their foreclosure for a fee. The fees have been ranging anywhere from $500 - 2500. So many people have fallen for this and actually thought they were out of foreclosure. That is until the Sheriff showed up and evicted them after their house was sold at the auction. Nobody can stop your foreclosure for a fee. Ofcourse, this is illegal too. In fact, as a result of this scam Florida enacted a new law that now makes it illegal for anyone (except an attorney) to charge a homeowner in the foreclosure process an upfront fee for foreclosure related services.
Scam #3: I will pay full price
An unscrupulous investor approaches the homeowner and agrees to buy their house at full market price and sets the closing date 1-2 days before the auction. The homeowner thinks they are going to net a sizable amount at closing. Unfortunately, at the closing table the investor now says he is only willing to pay whatever you owe on the property. Now your stuck. You either sell it and get nothing or you lose it to foreclosure and get nothing. There is a twist to this scam where the investor agrees to buy your house at full price less repairs. Sounds fair, doesn't it? Except at the closing table you are presented with a list of repairs (most of them bogus) all at outrageous amounts which is designed so that you net almost nothing from the sale and the investor gets a great deal. Since you don't have time to find another buyer, you end up selling to the scam artist or lose it to foreclosure.
Scam #4: Just sign here
In this scam an investor poses as a foreclosure rescue consultant. They show you a list of services they provide usually for a fee sometimes for free. All you have to do is sign on the dotted line so they can begin working with you. What you didn't realize is that you just signed a quit claim deed giving away your house to the investor. Many unsuspecting homeowners actually gave these people a check and their house! As you might expect, nobody got rescued.
Now you know some of the common scams to avoid. If you believe you are being scammed you can contact your state's attorney general's office.
HomeplexNation offers free assistance to homeowners. We can help you understand the foreclosure laws of your state and explain your options. If you need to sell, learn about our TRUEoffertm. Click here to learn more.
Here are some popular scams that you need to watch out for:
Scam # 1: Sale-Lease-Back
The sale lease back works like this. An unscrupulous investor offers to buy your house and agrees to lease it back to you. This way you don't have to move. Sounds good doesn't it? That's why there are so many victims. The problem is that the investor really wants the house. They will usually charge you market rent and wait until you can't pay so they can evict you. Another way they lure you in is with below market rent and then eventually raise it until you can't pay so they can evict you. Get the picture? Their goal is to evict you. That's why this option is illegal in many states.
Scam #2: I can stop foreclosure for a fee
This is another popular one. Another unscrupulous investor type knocks on the door with some official looking forms and tells the homeowner they can stop their foreclosure for a fee. The fees have been ranging anywhere from $500 - 2500. So many people have fallen for this and actually thought they were out of foreclosure. That is until the Sheriff showed up and evicted them after their house was sold at the auction. Nobody can stop your foreclosure for a fee. Ofcourse, this is illegal too. In fact, as a result of this scam Florida enacted a new law that now makes it illegal for anyone (except an attorney) to charge a homeowner in the foreclosure process an upfront fee for foreclosure related services.
Scam #3: I will pay full price
An unscrupulous investor approaches the homeowner and agrees to buy their house at full market price and sets the closing date 1-2 days before the auction. The homeowner thinks they are going to net a sizable amount at closing. Unfortunately, at the closing table the investor now says he is only willing to pay whatever you owe on the property. Now your stuck. You either sell it and get nothing or you lose it to foreclosure and get nothing. There is a twist to this scam where the investor agrees to buy your house at full price less repairs. Sounds fair, doesn't it? Except at the closing table you are presented with a list of repairs (most of them bogus) all at outrageous amounts which is designed so that you net almost nothing from the sale and the investor gets a great deal. Since you don't have time to find another buyer, you end up selling to the scam artist or lose it to foreclosure.
Scam #4: Just sign here
In this scam an investor poses as a foreclosure rescue consultant. They show you a list of services they provide usually for a fee sometimes for free. All you have to do is sign on the dotted line so they can begin working with you. What you didn't realize is that you just signed a quit claim deed giving away your house to the investor. Many unsuspecting homeowners actually gave these people a check and their house! As you might expect, nobody got rescued.
Now you know some of the common scams to avoid. If you believe you are being scammed you can contact your state's attorney general's office.
HomeplexNation offers free assistance to homeowners. We can help you understand the foreclosure laws of your state and explain your options. If you need to sell, learn about our TRUEoffertm. Click here to learn more.
Saturday, December 19, 2009
America's Best Bang-For-The-Buck Cities
Solid housing markets, relatively stable employment, enviable cost of
living and quick commutes make these metros among the country's most affordable to live. By Francesca Levy
Click here for the list
living and quick commutes make these metros among the country's most affordable to live. By Francesca Levy
Click here for the list
Friday, December 18, 2009
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Filing bankruptcy to stop foreclosure
Desperate times call for desperate measures and unfortunately there are plenty of homeowners in trouble. Also, there seems to be no shortage in the number of people out there that claim they can stop foreclosures and attorneys have joined the bandwagon too. Be very careful if an attorney tells you they can stop foreclosure by filing bankruptcy. That is only half the truth. The other half they don't always tell you is that the lender will ask the bankruptcy court for a stay and 99.99% of the time the bankruptcy judge will grant their request and to your surprise your house gets auctioned off.
Bankruptcy temporarily stops all creditors in their tracks in the beginning of the process. This is to give the court time to sort out the details of the bankruptcy proceedings. If you have loans that are secured to an asset like a house, car, boat, etc. and you're not able to make the payments, the court will allow the creditor to take possession of the secured asset. There are plenty of reputable attorneys that will help you decide if bankruptcy is an option and whether Chapter 7 or Chapter 13 is best for your situation. Bankruptcy will enable you to either repay or discharge your debts, but it does not permanently stop the foreclosure process. If you believe you may need legal assistance and are unsure where to go, the Legal Aid Society may be able to help.
Bankruptcy temporarily stops all creditors in their tracks in the beginning of the process. This is to give the court time to sort out the details of the bankruptcy proceedings. If you have loans that are secured to an asset like a house, car, boat, etc. and you're not able to make the payments, the court will allow the creditor to take possession of the secured asset. There are plenty of reputable attorneys that will help you decide if bankruptcy is an option and whether Chapter 7 or Chapter 13 is best for your situation. Bankruptcy will enable you to either repay or discharge your debts, but it does not permanently stop the foreclosure process. If you believe you may need legal assistance and are unsure where to go, the Legal Aid Society may be able to help.
Thursday, December 17, 2009
How a bank gets you in debt
If you have credit cards then you know why the Federal government has enacted legislation to protect consumers from their unfair business practices. The banks are extremely upset that they will no longer be able to tighten the noose around you as they see fit. So some banks have come up with some very creative ways to grab as much money from your wallet as they can before the new law goes into effect. One bank in particular, First Premier Bank, which claims to be the 10th largest issuer of Mastercard and Visa cards, is charging a jaw-breaking 79.9% interest. It gets better. They admit that they are targeting those that can least afford it. For example, if you have a $300.00 balance then you will owe them about $20.00 per month in interest fees alone. That equates to $240.00 per year in interest and you still owe the $300.00 principal! Their reasoning behind this is that they are helping those that otherwise would not be able to get credit. I have a better solution. Just keep an extra $300.00 in your checking account for an emergency. Use your bank's VISA/Mastercard check card to access the fund anywhere VISA/Mastercard is accepted and not worry about having to pay interest, late fees, etc. You won't get out of debt if you help banks get rich. Read the full article here.
Getting out of debt
You have no doubt heard the expression, cash is king. That expression is more prevalent now than ever before. Those that have cash are able to take advantage of the many bargain deals that are available. The problem is that most people don't have much cash to spend these days, but the debt is still piling up. While the banks got billions of relief from Uncle Sam, they haven't provided any relief in the accumulated debt caused by their high interest rates, junk fees and the way they calculate interest.
Oh, but there is a way to get relief from debt and its easier than you think. Aside from bankruptcy, there are really two types of debt relief. Debt consolidation and debt settlement. You're probably most familiar with debt consolidation. They're usually administered by a non-profit organization like Consumer Credit Counseling Service. With debt consolidation you agree to pay back your debt based on your monthly income. The banks prefer this option because they will usually get most of what you owe them. Another option that is gaining popularity is called debt settlement. Debt settlement companies charge you a fee and in return negotiate down your debt anywhere from 35%-65% of what you owe. The banks prefer that you use a consumer credit counseling service because they will net more money, but they are negotiating with debt settlement companies because they know something is always better than nothing.
You need to be very careful when choosing either a debt settlement company or debt consolidation. Make sure they have relationships with your creditors and check out their track record. When you finally get out of debt, stick to debit cards. They work as good as credit cards without the ability to accumulate debt.
Oh, but there is a way to get relief from debt and its easier than you think. Aside from bankruptcy, there are really two types of debt relief. Debt consolidation and debt settlement. You're probably most familiar with debt consolidation. They're usually administered by a non-profit organization like Consumer Credit Counseling Service. With debt consolidation you agree to pay back your debt based on your monthly income. The banks prefer this option because they will usually get most of what you owe them. Another option that is gaining popularity is called debt settlement. Debt settlement companies charge you a fee and in return negotiate down your debt anywhere from 35%-65% of what you owe. The banks prefer that you use a consumer credit counseling service because they will net more money, but they are negotiating with debt settlement companies because they know something is always better than nothing.
You need to be very careful when choosing either a debt settlement company or debt consolidation. Make sure they have relationships with your creditors and check out their track record. When you finally get out of debt, stick to debit cards. They work as good as credit cards without the ability to accumulate debt.
Wednesday, December 16, 2009
What's the problem with short sales?
Between adjustable rate mortgages pushing homeowners into foreclosure and the foreclosure crisis itself pushing home values down, millions of homeowners are either currently underwater or will soon be underwater. In fact, roughly 12 million households, or 16%, owe more than their homes are worth, according to Moody's Economy.com. If the homeowner can afford to pay their mortgage then there is no problem because there is no need for a short sale. The problem comes into play when the homeowner needs to sell their house. Since very few buyers are willing to pay more than market value for a house; and, with the number of homes on the market today, the small number of buyers out there are looking for deals. So, what generally happens is that the homeowner lists the property with a real estate agent and waits for a buyer. If they're lucky a buyer will be found and the agent can submit a short sale package to the bank. Lenders will not review a short sale package until there is a buyer for the property. The reason behind this is that if there is no buyer then there is nothing to negotiate.
A short sale package basically explains to the bank why they need to accept less than what is owed on the property. In addition, the homeowner will net zero on the sale, but will avoid having a foreclosure on their credit report. Lenders so far have agreed not to pursue deficiency judgments for the time being which means that the seller will not have to pay taxes on the portion of the loan the lender has forgiven to make the short sale work.
Once the short sale package is submitted it will take on average another 3-6 months for the bank to review the short sale application. This is why very few short sales end up working out. By the time the bank gets to the short sale package the buyer has already found another bargain property. The key to a successful short sale is working with a real estate agent that not only knows the market very well and can find a buyer quickly but also has the ability to successfully negotiate the short sale with the lenders and other lien-holders so as not to lose the buyer.
HomeplexNation can help homeowners and real estate agents successfully negotiate a short sale at no cost. Learn more about this valuable free service.
A short sale package basically explains to the bank why they need to accept less than what is owed on the property. In addition, the homeowner will net zero on the sale, but will avoid having a foreclosure on their credit report. Lenders so far have agreed not to pursue deficiency judgments for the time being which means that the seller will not have to pay taxes on the portion of the loan the lender has forgiven to make the short sale work.
Once the short sale package is submitted it will take on average another 3-6 months for the bank to review the short sale application. This is why very few short sales end up working out. By the time the bank gets to the short sale package the buyer has already found another bargain property. The key to a successful short sale is working with a real estate agent that not only knows the market very well and can find a buyer quickly but also has the ability to successfully negotiate the short sale with the lenders and other lien-holders so as not to lose the buyer.
HomeplexNation can help homeowners and real estate agents successfully negotiate a short sale at no cost. Learn more about this valuable free service.
Tuesday, December 15, 2009
Getting out of foreclosure
There are more than one million foreclosed homes currently being processed. This means that unless people are able to get jobs, 2010 is going to be another difficult year for millions of homeowners. It also means that property values will continue to fall in the hardest hit areas.
If foreclosure is near your front door its time to start thinking about options. Your options will also depend upon whether or not you have a job. If you don't have a job its probably time to give some serious thought towards selling your home. It will be a lot easier to find another place to live without a foreclosure on your credit report and you can use the proceeds from the sale of your home to give you a cushion while you look for a job or to relocate to an area that is hiring in your line of work.
If you're on the brink of foreclosure and you have a job the first thing to do if you want to keep your home is to contact your lender without delay. Your lender has a number of options that are available to assist you. Some of the options that are available include a loan modification, loan refinance, forbearance and a repayment plan. There is also special mortgage relief assistance for active duty military service members. Its important to discuss these options with your lender as soon as possible. The final two options are selling your home and deed in-lieu of foreclosure. As you can see, there are a lot of options available. You may not like some of them, but waiting until you receive a foreclosure notice in the mail is not an option that I would recommend.
HomeplexNation offers free assistance to homeowners. We can help you understand the foreclosure laws of your state and explain your options. Click here to learn more.
If foreclosure is near your front door its time to start thinking about options. Your options will also depend upon whether or not you have a job. If you don't have a job its probably time to give some serious thought towards selling your home. It will be a lot easier to find another place to live without a foreclosure on your credit report and you can use the proceeds from the sale of your home to give you a cushion while you look for a job or to relocate to an area that is hiring in your line of work.
If you're on the brink of foreclosure and you have a job the first thing to do if you want to keep your home is to contact your lender without delay. Your lender has a number of options that are available to assist you. Some of the options that are available include a loan modification, loan refinance, forbearance and a repayment plan. There is also special mortgage relief assistance for active duty military service members. Its important to discuss these options with your lender as soon as possible. The final two options are selling your home and deed in-lieu of foreclosure. As you can see, there are a lot of options available. You may not like some of them, but waiting until you receive a foreclosure notice in the mail is not an option that I would recommend.
HomeplexNation offers free assistance to homeowners. We can help you understand the foreclosure laws of your state and explain your options. Click here to learn more.
Monday, December 14, 2009
Do I Need A Loan Modification?
A lot of homeowners are trying to figure out if they need a loan modification and if they do how can they get it done quickly. You don't need a loan modification if you are able to make your mortgage payments. You may qualify for a loan modification if you are unable to pay your mortgage, but you have an income that would enable you to pay your mortgage if it were lower. First, your bank is not going to reduce your mortgage below its current market value. So, if you have a $200,000 mortgage and your property is worth $250,000 you are probably not going to get approved for a loan modification. Second, the bank will want proof that you will be able to make the lower mortgage payments.
Beware of scam artists that are operating in this arena. Some companies are charging hefty upfront fees with all sorts of promises and guarantees and end up delivering absolutely nothing. The fact is that this is something a homeowner can do themselves by speaking directly with their lender. Also, some of these companies and lenders are telling homeowners that they need to be behind on their mortgage to qualify. This is not only untrue, but it is completely illegal. You can quickly find out if you qualify for a loan modification by visiting the Making Home Affordable website.
On the other hand, there are legitimate companies that have relationships with banks that may be able to help a homeowner get their loan modification processed faster than if they were trying to do it themselves. You will want to make sure the company you are considering has a track record with your lender. Also, never pay any fees upfront. Keep in mind that nobody can guarantee that you will get a loan modification. The decision is ultimately up to your lender.
HomeplexNation has partnered with Homeowners Relief and Resolution Partnership and provides free consulatation to any homeowner that is interested in learning if a loan modification is right for them. Click here for more information.
Beware of scam artists that are operating in this arena. Some companies are charging hefty upfront fees with all sorts of promises and guarantees and end up delivering absolutely nothing. The fact is that this is something a homeowner can do themselves by speaking directly with their lender. Also, some of these companies and lenders are telling homeowners that they need to be behind on their mortgage to qualify. This is not only untrue, but it is completely illegal. You can quickly find out if you qualify for a loan modification by visiting the Making Home Affordable website.
On the other hand, there are legitimate companies that have relationships with banks that may be able to help a homeowner get their loan modification processed faster than if they were trying to do it themselves. You will want to make sure the company you are considering has a track record with your lender. Also, never pay any fees upfront. Keep in mind that nobody can guarantee that you will get a loan modification. The decision is ultimately up to your lender.
HomeplexNation has partnered with Homeowners Relief and Resolution Partnership and provides free consulatation to any homeowner that is interested in learning if a loan modification is right for them. Click here for more information.
Sunday, December 13, 2009
What's My Home Worth?
Real estate is a local phenomenon and property values vary block by block. First, you will want to compare your property to others in your neighborhood that are similar in size, style and year built. Second, consider the size of your lot. Is your lot similar, larger, or smaller than the others in your neighborhood? Does your property have lush landscaping, a pool and/or water view? Third, you need to account for the condition of the inside of your home. When comparing home values, you need to find homes in your neighborhood that are similar to yours. For example, if your home hasn't been updated, you need to find homes in your neighborhood that have not been updated to compare to. Otherwise, you will end up overpricing your home and it will not sell. This is why web sites like Zillow that provide home values are not as accurate as a property appraiser. Web sites take an average of all sales in a radius and try to figure out mathematically what your home may be worth and have no idea of the condition of the property. Also, the radius may include neighborhoods where homes are selling higher or lower than yours. This is why local property appraisers and local real estate agents have a better understanding of the condition of the properties that are selling in your neighborhood. Finally, you have all the pieces and now its time to put them together.
You have walked your neighborhood and noted the addresses of the properties that are similar to yours inside and out. All you need to do is either contact a local real estate office or county tax appraiser and they will be able to tell you how much those houses sold for and when. Only consider those sales that have sold within the last 90 days. Next, compare your house to those that are currently on the market that are similar to yours both inside and out. Homes that are on the market for more than 90 days may be overpriced for the neighborhood. Now, pick out the homes that are most similar to yours and you will have a best guess of what your home is currently worth. As you can see, home values is not an exact science. At the end of the day, your home is going to be worth whatever someone is willing to pay for it.
You have walked your neighborhood and noted the addresses of the properties that are similar to yours inside and out. All you need to do is either contact a local real estate office or county tax appraiser and they will be able to tell you how much those houses sold for and when. Only consider those sales that have sold within the last 90 days. Next, compare your house to those that are currently on the market that are similar to yours both inside and out. Homes that are on the market for more than 90 days may be overpriced for the neighborhood. Now, pick out the homes that are most similar to yours and you will have a best guess of what your home is currently worth. As you can see, home values is not an exact science. At the end of the day, your home is going to be worth whatever someone is willing to pay for it.
Saturday, December 12, 2009
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