Pre-Listing Appraisal Services in New Jersey from Allison Appraisal
Working with an agent to sell your house? More than likely, they'll provide you with a comparative market analysis (or a CMA) that displays competing houses for sale in your local area. It's a customary starting point in determining your home's listing price. This step is really important if you're going to maximize your profit and minimize your home's time on the market.
Even if you've hired the most experienced real estate agent, it's in your best interest to also have a third-party's objective opinion of value prior to signing a Listing Agreement.
That's where Allison Appraisal comes in! We can do a pre-listing appraisal so you and your agent have a detailed analysis of the most recent and similar comparable sales and an accurate description of your home's features.
Allison Appraisal can help you decide on a realistic selling price so your house will draw in buyers, and we can also:
Improvements to add value
There are so many important questions to ask yourself before listing your house. Would it be better to paint the outside of the house before we sell it... Should I finish my closet remodel... Almost any project can influence value in some way. Unfortunately, not all of them have an effect commensurate with their cost. A kitchen remodel may improve your home's appeal, but it may not justify the costs you'd pay.
Need help making some of these important decisions? We're here for you. Appraisers have no vested interest in your final selling price, like an agent on commission will. An appraisal fee from Allison Appraisal is based on our efforts to complete your report, and are not a percentage of the sales price. So please consider ordering an appraisal from Allison Appraisal. When it comes to investing in your house and setting a fair sale price, we'll help homeowners make the best decisions.
Working with an agent to sell your house? More than likely, they'll provide you with a comparative market analysis (or a CMA) that displays competing houses for sale in your local area. It's a customary starting point in determining your home's listing price. This step is really important if you're going to maximize your profit and minimize your home's time on the market.
Even if you've hired the most experienced real estate agent, it's in your best interest to also have a third-party's objective opinion of value prior to signing a Listing Agreement.
That's where Allison Appraisal comes in! We can do a pre-listing appraisal so you and your agent have a detailed analysis of the most recent and similar comparable sales and an accurate description of your home's features.
Allison Appraisal can help you decide on a realistic selling price so your house will draw in buyers, and we can also:
- Provide expert tips to help you negotiate once you find a an interested buyer
- Wow potential buyers with written proof of your house's quality inside and out
- Eliminate repair hassles at the eleventh hour and make yourself aware of problems that might delay your closing
- Decrease the chances of unknown headaches that cause negotiations to fall through
- Do away with waiting for the buyer's appraisal to have assurance the sale will go through
Improvements to add value
There are so many important questions to ask yourself before listing your house. Would it be better to paint the outside of the house before we sell it... Should I finish my closet remodel... Almost any project can influence value in some way. Unfortunately, not all of them have an effect commensurate with their cost. A kitchen remodel may improve your home's appeal, but it may not justify the costs you'd pay.
Need help making some of these important decisions? We're here for you. Appraisers have no vested interest in your final selling price, like an agent on commission will. An appraisal fee from Allison Appraisal is based on our efforts to complete your report, and are not a percentage of the sales price. So please consider ordering an appraisal from Allison Appraisal. When it comes to investing in your house and setting a fair sale price, we'll help homeowners make the best decisions.
Estate Settlement Appraisals in New Jersey by Allison Appraisal
Settling an estate is often stressful, but a very important job. As a trustee, you've been given the responsibility to carry out the wishes of a loved one as quickly and attentively as possible. You can count on Allison Appraisal to respond quickly and with as much empathy to the feelings of everyone left behind.
Lawyers and accountants count on our ethics when calculating real property values for estates, divorces, or other disputes requiring a value being determined for real property. There are specific needs for everyone; we are sympathetic to these necessities and are comfortable with working with all parties involved. We construct appraisal reports that surpass the obligations of the legal system and various agencies.
Usually, settling an estate requires an accurate appraisal report to acquire market value for the home to the satisfaction of the parties involved. We know that when you lose a loved one, ordering an appraisal report is the furthest thought from your mind. So, there's a chance the time an appraisal is requested will deviate the date of death. Allison Appraisal assures that our appraisers are knowledgeable about the procedures and requirements needed by revenue services to perform a retrospective appraisal with an effective date and market value estimate matching the date of death. The ethical obligations stated within the Uniform Standards of Professional Appraisal Practice (USPAP) conforms our appraisers to confidentiality, ensuring the strongest degree of privacy for all parties involved.
People often forget that the IRS needs reports filed to express the numbers involved in estate sales.
One of the most necessary requirements in an appraisal report is an appraiser-supported opinion of value in a detailed reason as to how the appraiser came to his conclusion. In having a report backed by Allison Appraisal's professional staff, you will have the knowledge that the numbers displayed in the report will clearly demonstrate to the IRS that the numbers used are well founded and substantiated.
An executor will be satisfied by a report by Allison Appraisal which will provide him undeniable facts and figures to cooperate with the IRS and New Jersey state agencies' requirements. It assures peace of mind to everyone concerned because we will always be there to stand behind the appraisal report if it is ever challenged. .
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Settling an estate is often stressful, but a very important job. As a trustee, you've been given the responsibility to carry out the wishes of a loved one as quickly and attentively as possible. You can count on Allison Appraisal to respond quickly and with as much empathy to the feelings of everyone left behind.
Lawyers and accountants count on our ethics when calculating real property values for estates, divorces, or other disputes requiring a value being determined for real property. There are specific needs for everyone; we are sympathetic to these necessities and are comfortable with working with all parties involved. We construct appraisal reports that surpass the obligations of the legal system and various agencies.
Usually, settling an estate requires an accurate appraisal report to acquire market value for the home to the satisfaction of the parties involved. We know that when you lose a loved one, ordering an appraisal report is the furthest thought from your mind. So, there's a chance the time an appraisal is requested will deviate the date of death. Allison Appraisal assures that our appraisers are knowledgeable about the procedures and requirements needed by revenue services to perform a retrospective appraisal with an effective date and market value estimate matching the date of death. The ethical obligations stated within the Uniform Standards of Professional Appraisal Practice (USPAP) conforms our appraisers to confidentiality, ensuring the strongest degree of privacy for all parties involved.
People often forget that the IRS needs reports filed to express the numbers involved in estate sales.
One of the most necessary requirements in an appraisal report is an appraiser-supported opinion of value in a detailed reason as to how the appraiser came to his conclusion. In having a report backed by Allison Appraisal's professional staff, you will have the knowledge that the numbers displayed in the report will clearly demonstrate to the IRS that the numbers used are well founded and substantiated.
An executor will be satisfied by a report by Allison Appraisal which will provide him undeniable facts and figures to cooperate with the IRS and New Jersey state agencies' requirements. It assures peace of mind to everyone concerned because we will always be there to stand behind the appraisal report if it is ever challenged. .
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Bank Owned Properties Appraisals in New Jersey by Allison Appraisal
There are particular appraisal difficulties regarding a property in foreclosure or one that has reverted to the bank's ownership.
It's important to recognize the meanings of "market value" and a "quick disposition" assessment to know what losses you stand to have to endure when dealing with a house in foreclosure. Real Estate Appraisal Services of South Jersey has the background in both presenting snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into consideration your pressing needs.
Owners of houses in foreclosure unfortunately can present particular challenges. They may be unwilling to allow an inspection of the house. Sometimes the properties have been vandalized, unfortunately by the residents. Or, it's common to find nobody has lived in house for months or the home neglected for extended periods of time.
For a home that has already returned to REO, you probably will want it off your hands as quickly as possible. Regardless, you'll still want to consider three angles for determining the value of the real estate at hand:
* As Repaired. Value with the repairs required to make the property marketable at full market value - appropriate with competing properties in the neighborhood
* As-is. The value of the home without any work performed
* Quick sale. With minimal investment in repairs - to sell the property quickly, seemingly as a "fixer-upper"
Again, we understand your time line and the special circumstances of a Real Estate Owned house, as well as the special information you will need - competing listings, market trends, and so forth. You can count on Allison Appraisal Services to handle the task of your REO professionally and efficiently.
Contact us today.
There are particular appraisal difficulties regarding a property in foreclosure or one that has reverted to the bank's ownership.
It's important to recognize the meanings of "market value" and a "quick disposition" assessment to know what losses you stand to have to endure when dealing with a house in foreclosure. Real Estate Appraisal Services of South Jersey has the background in both presenting snapshots of market value for our mortgage lending clients, in addition to "quick sale" forecasts that take into consideration your pressing needs.
Owners of houses in foreclosure unfortunately can present particular challenges. They may be unwilling to allow an inspection of the house. Sometimes the properties have been vandalized, unfortunately by the residents. Or, it's common to find nobody has lived in house for months or the home neglected for extended periods of time.
For a home that has already returned to REO, you probably will want it off your hands as quickly as possible. Regardless, you'll still want to consider three angles for determining the value of the real estate at hand:
* As Repaired. Value with the repairs required to make the property marketable at full market value - appropriate with competing properties in the neighborhood
* As-is. The value of the home without any work performed
* Quick sale. With minimal investment in repairs - to sell the property quickly, seemingly as a "fixer-upper"
Again, we understand your time line and the special circumstances of a Real Estate Owned house, as well as the special information you will need - competing listings, market trends, and so forth. You can count on Allison Appraisal Services to handle the task of your REO professionally and efficiently.
Contact us today.
Allison Appraisal can help you remove your Private Mortgage Insurance
It's typically inferred that a 20% down payment is the standard when getting a mortgage. The lender's only exposure is typically just the remainder between the home value and the balance due on the loan, so the 20% adds a nice buffer against the costs of foreclosure, reselling the home, and regular value fluctuations on the chance that a purchaser doesn't pay.
The market was accepting down payments dropping to 10, 5 and even 0 percent in the peak of last decade's mortgage boom. A lender is able to manage the additional risk of the small down payment with Private Mortgage Insurance or PMI. This supplemental plan protects the lender if a borrower is unable to pay on the loan and the value of the home is less than what the borrower still owes on the loan.
Since the $40-$50 a month per $100,000 borrowed is rolled into the mortgage payment and oftentimes isn't even tax deductible, PMI can be costly to a borrower. It's profitable for the lender because they collect the money, and they are covered if the borrower doesn't pay, as opposed to a piggyback loan where the lender consumes all the deficits.
How can a homeowner prevent paying PMI?
With the passage of The Homeowners Protection Act of 1998, lenders are forced to automatically terminate the PMI when the principal balance of the loan reaches 78 percent of the original loan amount on most loans. The law promises that, upon request of the homeowner, the PMI must be abandoned when the principal amount equals only 80 percent. So, keen homeowners can get off the hook ahead of time.
Since it can take a significant number of years to arrive at the point where the principal is only 80% of the original amount borrowed, it's essential to know how your New Jersey home has grown in value. After all, all of the appreciation you've acquired over time counts towards removing PMI. So why pay it after the balance of your loan has fallen below the 80% mark? Your neighborhood may not adhere to national trends and/or your home may have acquired equity before the economy declined. So even when nationwide trends forecast decreasing home values, you should realize that real estate is local.
The hardest thing for almost all people to determine is whether their home equity has exceeded the 20% point. An accredited, New Jersey licensed real estate appraiser can surely help. As appraisers, it's our job to recognize the market dynamics of our area. At Allison Appraisal, we're masters at pinpointing value trends in Haddon Heights, Camden County, and surrounding areas, and we know when property values have risen or declined. Faced with figures from an appraiser, the mortgage company will most often remove the PMI with little anxiety. At which time, the homeowner can relish the savings from that point on.