A Lesson in House Values

Your house as seen by yourself. Your house as seen by the buyer. Your house as seen by the lender. Your house as seen by the appraiser. Your house as seen by the assessor.

Each of the people involved in your transaction see the same house very differently. Yourself:  You love your house and your emotions color how the house looks. The buyer:  Likes the house but has not yet become emotionally attached so the house still can use some improvement. The lender:  Must have enough value in the home to cover the amount they are going to loan the buyer. The appraiser:  It's the appraiser's job to determine if the value is enough to cover the amount of the loan IF you stop making payments and the bank must foreclose. The assessor:  Most counties have guidelines for how much your taxes can leap, but the assessor's job is to find as high a value as possible so you continue to pay high taxes.

Comments

[Maureen Francis]

The photos say it all!