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Anastasia Andries,  Feasterville,  PA

Date: November 3

"To Be, Or Not To Be" - being realistic about asking price.
One of my past clients said, that we should get an appraised value of each property we are getting ready to list in order to make the owner list it for the right price which will help to sell the property in a short period of time. (… after it took me 2 months to explain him that his house was overprized and he saw the value of the house after an appraisal)
This may be a reasonable idea in today's market with people that bought their houses when they where overpriced and just to show them that their house was never worth the price they paid for. Hmm.., what about the times when market was going up, no one would want to sell a property for the apprised value. The price of the houses was going up only because of the demand and NOT because of the value of the house. How could a house in 2004 "as is condition" to be on the market for $84,000 and be sold at the end of the 2005 "as is condition" for $205,000?! The apprised value is very important and it hurts seeing people that paid $205,000 at the end of the year 2005 for a property "as is condition" to lose a deal just because an interested investor gave an offer at the end of October 2009 for this property lower then they owe on their mortgage which is apprised lower then the asking price.
The Appraised Value should/MUST be used in order to get a mortgage to be able to keep the realistic price of the houses. Which we understand it wasn't that adequate one the housing market was getting up in value without being realistic.

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Tom Greenan Licensed Real Estate Agent

Date: November 3

If my seller agrees with the "appraised price" I ask them to list at one to one hundred dollars below the appraised price. My reasoning is that I can offer the home at "Listed at Below Appraised Price" in my ad and MLS. Good attention getter,makes a nice "banner headline".
My 2 cents

 
Tom G.
KW-Chicago


 
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Stephen Penrose,  MO

Date: November 4

If my seller agrees with the "appraised price" I ask them to list at one to one hundred dollars below the appraised price. My reasoning is that I can offer the home at "Listed at Below Appraised Price" in my ad and MLS. Good attention getter,makes a nice "banner headline".
My 2 cents

Tom G.
KW-Chicago
Tom,
I agree however, I'd suggest that "Appraised Value" is the correct term for your useage.
Price:
The amount a particular purchaser agrees to pay and a particular seller agrees to accept under the circumstances surroundding their transaction.
(The Dictionary of Real Estate Appraisal - Fourth Edition)
Appraised Value:
See- Assignment Results
Assignment Results:
An appraiser's opinions and conclusions developed specific to an assignment.
(USPAP, 2002 ed.)
Stephen
Stephen Penrose, RE Consultant, e-PRO
MO Certified General RE Appraiser
314.805.8044 (direct) 314.832.0990 (fax)
3148058044@txt.att.net (text-message)
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Bill Morris Licensed Real Estate Agent,  Austin,  TX

Date: November 4

There is a difference in "appraised value" and "market price." Particularly in the world of HVCC, even having the seller pay for an appraisal in advance doesn't really guarantee anything other than having a point to argue with the lender's appraisal if needed.

In most cases, I would rather have my seller spend that money preparing the house to show, moving it as high as possible in the market price range that I determine based on my own market knowledge -- not just past sales, but active competition, seasonality, etc.

Pricing short sales and REOs is a different process. I can't control the quality of the BPO the lender will probably get elsewhere, but I can control the qualify of my market analysis, and facts are stubborn. What kills most short sales is simply slow response from lenders' loss mitigation departments. I am still waiting for an answer on an offer I presented on 9/30/09 - five weeks and counting. Unfortunately, that's not unusual, and most buyers can't or won't wait that long.

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Kathleen Hamid

Date: November 5

I need the names of 3 or 4 lenders in Louisianna (Alexandria, LA is where property is located).
�
Info they need to know:�� 1) MUST have low fees to roll into loan� 2) Combining a 1st and 2nd
3) Loan in the $70K range

--
KATHLEEN HAMID, Realtor
Your Real Estate
BUYING & SELLING Solution !!
Cell � (281) �799-4002
Off. � �(281) 870-0000 �x9030
Fax � �(281) 598-9030

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