Appraisals and CMAs
Appraisals are primarily used to protect the lender’s interest in the property. Just like lenders can be hesitant to issue a mortgage to credit-risky borrowers, they don’t like to underwrite properties for more than they’re worth. Appraisals also are used when other factors have made it difficult to assess your property’s value, such as a lack of real estate activity in your area.
After a recent transaction, I received a note from my client. This is such a sweet, sweet testimonial, I just had to share:
I recently sold my home and purchased a condo here in Ventura county. I was amazed as to the paper work, forms, deadlines and the overall complexity of buying and selling had become. Looking back, my best decision was to enlist Teryn Bonime as my advisor. We talked almost every day and I grew confident in her suggestions and advice. After I purchased my condo, I suggested that her nickname should be …”The dream catcher”. If you have not yet made a decision to hire a broker, I strongly suggest Teryn Bonime. And if you have already hired her, I applaud your very wise decision.
I tour A LOT of homes! I preview for my clients, I go on broker caravan each week, I spend hours and hours on the computer looking at numerous databases and websites, I run reports on foreclosures, notice of defaults, and local commercial inventory. I look at trends of new listings versus sales, standard sales versus short sales, days on market versus cumulative days on market and I study individual neighborhoods around the area.
480 S. Emma Avenue sold at asking price of $369,000, just a few days after coming onto the market.
In getting the home ready for sale, carpets were removed to show off the beautiful wood floors that had been covered and protected for years, windows were washed inside and out, and every surface of the house was scrubbed to give the home that extra sparkle. To neutralize and emphasize the home’s spaciousness, the walls were painted with the perfect light color. The yard was spruced up and flowers added to give that extra curb appeal. The service providers did a wonderful job getting the home ready. (I’d be happy to share their names with you!) The final step was to stage the house to make the home more inviting while buyers toured through.