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Real Estate Tips

About Appraisals >Lender Appraisal

Many sellers think that the price of their home is determined solely by what they are willing to accept and what the buyer is willing to pay. However, there is one more variable that can affect the sale of a home assuming that a bank loan is involved -- the lender's appraisal.

To protect the interest of their investors, the buyer's mortgage lender hires a licensed appraiser to give an independent, objective opinion of what the property is worth. The appraiser compares the house with similar homes in the neighborhood that have recently sold. Square footage, amenities and the condition of the home are taken into account. Renovations and home improvements made by the seller usually add value to the home, while defects such as needed repairs or code violations decrease the property's value. The seller's real estate agent can provide the appraiser with up-to-date information about neighboring homes that have sold to support the seller's asking price.

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Real Estate Trivia

Q 
Which metropolitan area in America currently offers the most affordable market in which to buy new homes?

A 
The housing market in Youngstown, Warren and Boardman, Ohio is currently the most affordable metro area in the U.S.
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Elizabeth Brien, REALTOR®, real estate agent and broker for Ann Arbor, Dexter and Chelsea, Michigan home listings, property and land for sale - NUMBER1EXPERT

Elizabeth Brien
The Charles Reinhart Company Realtors

2355 W. Stadium
Ann Arbor, MI. 48103
Elizabeth Cell: 734.645.4444
Bruce Cell: 734.476.1103
Office Direct: 734.669.5989
Office Switch: 734.665.0300
Fax: 734.769.8271
Email: brienteam@elizabethbrien.com

Elizabeth Brien is a dedicated champion for the achievement of the dreams and goals of her clients and their families. Elizabeth's keen ability to establish relationships with her clients, her vast marketplace knowledge, and her focus and effort, have resulted in a significant list of satisfied, and often repeat, clients. Elizabeth has over 28 years of experience throughout the entire residential market - new construction and re-sale of homes, condos and income properties. With over $48 million in sales in 2011, and $709 million in career sales, Elizabeth Brien was again the top-selling realtor in Washtenaw County and The Charles Reinhart Company in 2011. Please contact Elizabeth for information concerning the Ann Arbor and greater Washtenaw County areas, and for assistance in buying or selling a home in Ann Arbor, Saline, Dexter, Chelsea or any other part of Washtenaw County. She'll be happy to help in any way she can.

Equal Housing REALTOR


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