Appraisals Vs Assessments What's The Difference

Once again Vicky Chrisner, the Real Estate Whisperer has written yet another wonderful article to educate home buyers and home sellers alike.


There is a difference between "appraisals" and "assessments" although the words are commonly used interchangeably. A educated consumer knows the differences:

Assessments

• Completed using an automated valuation program.
• Generally done once per year.
• Used to determine real estate taxes.
• Should be within a margin of error of +/- 10%.

Appraisals

• Done by licensed appraiser who looks at the home, and comps.
• Values property "real time" (as of the date of the report).
• Used to support sales prices or loan amounts.
• Should be as close to Fair Market Value as possible.

To read The Real Estate Whisperers entire article on this subject click on the link

Going Once Going Twice Sold

What Should Buyers Know About Auctions? Vicky Chrisner aka " The Real Estate Whisperer" is a Certified Auction Specialist. Here is what she has to say about Auctions!

Auctions are just one more tool, which can be good for both buyers and seller in today's market. As they are being used with increasing frequency, I get more and more questions... and I hear potential buyers saying things that they assume but which are completely wrong. Sadly, I also hear inaccuracies about auctions and intimidation with the auction process, even from real estate agents.

So, as a Certified Auction Specialist, and an agent who works with both buyers and sellers, I thought I should make an effort to educate the public on the process. As it is a large topic, I will attempt to share what I know through a series of posts...which are intended to educate buyers, sellers and the general public.


Our first post is "Auctions, Part 1: Where is the Auction Held?" . By understanding where the auction is, you automatically know certain things about how the auction will be promoted and run. To read the first part of Vicky's series click on the link above. Vicky Chrisner is a real estate agent working for Keller Williams Realty in the Leesburg Virginia office

Vicky Chrisner - Keller Williams Realty Realtor Of The Week - 10/11/2008

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Vicky Chrisner



Short Sales. Foreclosures. REOs. Oh, My!

These buzz words abound within our real estate market today. Headlines about our economy, politics and global affairs keep you from sleeping at night. If those things are not directly impacting your daily life you, you know you're just waiting your turn. You find yourself wishing you were Warren Buffet or Donald Trump. And then, late at night, when you turn on the TV, hoping to find some mindless show that will help you drift off to sleep, you end up watching a "get rich quick" infomercial and THEN you can't sleep because you're wondering if you ARE missing your opportunity to become the world's next real estate billionaire.

So, what's the truth? Well it depends. It's true that some people take high risks and make a mint. Other people take high risks and lose, big. I recently received an email from a financial planning consultant that said his firm's recommendations in today's economy were to make no decisions based on fear, panic or greed. Good advice, I think, especially when it comes to real estate.

Real estate decisions should be based on the lifestyle you're trying to create for yourself and your family. If you're ready to settle down, buying a first home can be the best investment you'll ever make. If you're already stable in your family and financial life, and thinking of moving up, it's true that selling your current home can be daunting but you will also get an amazing deal on your next home, so it's all relative. Perhaps you're considering investing. To the true (well capitalized and long term) investor, I say "go for it". The rental market is strong right now, and properties can be purchased with positive cash flow from day one. But, with each of these tidbits of advice come warnings.

It's often said that real estate is a LOCAL business, but I feel it's a personal business. Buying or selling in any market condition can be a good decision or a bad one, and more important than timing the market, is understanding how these decisions will impact your life and your family today, tomorrow and for years to come. If you have an opportunity to buy a home for a rock bottom, absolutely fabulous, amazing deal if you can not afford the mortgage payments, then you should not buy. Even if the home you're considering is a terrible financial deal, but you can afford the mortgage payments and you will love every moment of every day of your life because of your new home, then it is well worth it.

Here at Keller Williams, our agents are trained to be a consultant to you, and help you understand the short term and long term risks and benefits of buying or selling, help you make financing choices, and to educate you on the local market place. We'll teach you all the terminology in today's market - like REOs, Short Sales and Foreclosures. If you're buying, we'll help you understand the risks and benefits of buying any of these types of properties so you can make the decision that's best for you. If you're selling, we'll help you understand if these sales are likely to impact your sale, and how; and help you evaluate the pros and cons of taking the "wait out the market" approach.

Let me, or one of my friends here at Keller Williams assist you in evaluating your options in the real estate world today.

Email Vicky Chrisner