November 1 ar 2am daylight saving is changing again. Set your clocks back one hour. Remember Spring forward, Fall back.
Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. Amelia Bullock Realtors. 512.589.7988.
If your buyer is obtaining financing! Oh sure there are other options. The buyer could pay the difference in cash or the buyer and seller could split the difference but NOT in today's market.
This is a buyer's market.
The purpose of an appraisal is to ensure the buyer doesn't pay more than the property is worth. Would you pay more than a home was worth?
The lender won't. The lender wants to make sure that the house is worth the sales price because if the buyer were to default on the loan, the lender wants to make sure they can recover their loss.
The buyer won't either. Buyers want to know that they are making a GOOD investment. One that will appreciate, build equity and supply the most money possible when they sell.
In addition, if it's an FHA buyer (and because of the recent changes in the lending rules that's what most first-time homebuyers will be because of the low downpayment requirements - 3.5% ) that appraisal will remain on the FHA records for 6 months.
In a sellers market or if the property is especially desirable a buyer may be interested in paying more than appraised value but that buyer must have the cash for the difference because the lender won't make a loan for more than appraised value minus the downpayment.
The appraisal prosses is designed to protect the buyer and the lender from over paying for a property.
Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. Amelia Bullock Realtors. 512.589.7988.
AMELIA BULLOCK REALTORS HAS ACHIEVED THE MD PREFERRED REAL ESTATE PROVIDER STATUS.
Awarded to fewer than 100 Realtors Nationwide by US Medical Specialties, this distinction recognizes our experience with and commitment to serve healthcare professionals and physicians in our area
Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. Amelia Bullock Realtors. 512.589.7988.
The AIA Austin Home Tour is October 10-11 ( Saturday and Sunday from noon to 6PM. Tickets are $25 in advance and $30 the day of the tour. For tickets contact AIA Austin at 512.452.4332 or http://www.aiaaustin.org.
There will be 14 homes on the tour ranging from contemporary new homes to updated historical cottages. The tour includes areas of Central and West Austin. Featured Architechs are:
Have a great tour
Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. Amelia Bullock Realtors. 512.589.7988.
According the Texas Bar Journal, September 2009, there are some senate bills which will effect your property protest with the Texas County Tax Appraisers Office. These bills were adopted to benefit homeowners.
S.B. 771 prohibits increases for a property the year after the property's appraised value was lowered on an appeal. The exception would be if the chief appraiser can support an increase with substantial evidence.
Hopefully, if you protested in 2009, your value will not be raised in 2010 but if it is consider using this bill in your next protest. Since this is a declining market, you may wish to protest and lower your value even further next year.
H.B.1038 requires a chief appraiser to consider residential valuation of other residences in the neighborhood that have been sold in a foreclosure or declined in value due to a declining economy.
This year when I protested the appraiser wouldn't allow me to use comparatives that included foreclosure properties and they do effect your homes market value. Plus, the market is still declining as evidenced in market statistics.
Best wishes with your property tax protests.
Robin Scott, BROKER. Certified Residential Specialist, Accredited Buyer's Representative, Seller's Representative Specialist. Amelia Bullock Realtors. 512.589.7988.
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My passion is residential real estate. I help people buy and sell houses. I'm a Certified Residential Specialist, a Seller Representation Specialist and an Accredited Buyer's Representative.
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