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Q: Are There Standard Ways to Determine How Much a Home Is Worth?

March 6th, 2014 | Written by | Leave A Comment

A: Yes. A comparative market analysis and an appraisal are the two most common and reliable ways to determine a home's value. Your real estate agent can provide a comparative market analysis, an informal estimate of value based on the recent selling price of similar neighborhood properties. Reviewing comparable homes that have sold within the past year along with the listing, or asking, price on current homes for sale should prevent you from overpaying. A certified appraiser can provide an appraisal of... Continue Reading »

Mortgage Rate Drop Boosts Demand

March 6th, 2014 | Written by | Leave A Comment

Everest Realty

According to  the Mortgage Bankers Association's Weekly Applications Survey, the average  contract interest rate for 30-year fixed-rate mortgages fell last week. The drop  in rates was the first following two consecutive weeks of increases and led to a  9.4 percent spike in total mortgage application demand, which includes both  purchase and refinance activity. The seasonally adjusted Purchase Index, which  is an indicator of future home sales, jumped 9 percent from one week earlier,  while the Refinance Index rose 10 percent.... Continue Reading »

Buying More Affordable Than Rent In 100 Largest Metros

March 5th, 2014 | Written by | Leave A Comment

Everest Realty

Though  mortgage rates rose in 2013, they are still well below historical norms. And,  according to a new report from Trulia, historically low rates mean buying a home  is still cheaper than renting in the 100 largest housing markets across the  country. Even with last year's price increases, mortgage rates would have to hit  10.6 percent before renting a home was more affordable than buying one. Jed  Kolko, Trulia's chief economist, said today's mortgage rates would be the envy  of... Continue Reading »

“No Housing Bubble for Florida,” According to UCF Economist

August 7th, 2013 | Written by | 1 Comment »

Everest Realty

The recent housing market's double-digit appreciation is starting to make it feel a lot like the good old days before the bust of 2008. But according to University of Central Florida economist Sean Snaith there is no housing bubble this time around. In a new report he wrote: There are two key differences between the current run-up in the housing market and the bubble that upon bursting took the state deep into recession. First investors in the current market are not... Continue Reading »

Being Responsive is Most Important for Real Estate Agents

August 7th, 2013 | Written by | 2 Comments »

Everest Realty

The California Association of Realtor just released the 2013 Home Buyer Survey Report and it highlighted a significant bone of contention that clients have with their agents -- lack of responsiveness and communication. Speed of communication, method of communication, and ineffective communication were three of the top five reasons for dissatisfaction with an agent. Here are the top five: Slow response (82%) Ineffective/inefficient communication (48%) Undesirable communication methods (43%) Not aggressive in negotiation (47%) Showed homes unlikely to buy (2%) We polled our agents here at Everest... Continue Reading »

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