An appraisal is the practice of developing an opinion of the value of real property, usually its Market Value.
Usually, an appraisal expert has attained some type of designation through formal study and examination by a recognized body.
The Member of the Appraisal Institute (MAI) and Senior Residential Appraiser (SRA) designations are awarded by the Appraisal Institute to those who pass certain tests, prepare detailed sample reports, demonstrations and complete years of appraisal experience.
Other highly credible organizations that award appraisal designations include the National Society of Real Estate Appraisers, the American Society of Appraisers, the International Association of Assessing Officers, and the National Association of Independent Fee Appraisers.
Designations from these associations assure that the appraiser understands the principles of appraisal and subscribes to a code of professional ethics.
All states are now required to license appraisers of real property. You can find local appraisers in the phone book, online, through your local Real Estate board or usually by word of mouth.
Value should be qualified as well. There are different types of value. The majority of appraisals seek to find market value. This is what the property is
worth to typical purchasers in a normal market. The Appraiser will always request a copy of the Purchase Agreement so they know what the
Buyer is willing to pay for the property.
If you are interested in what the property is worth under your personal circumstances, an appraisal can be made for investment value. An appraiser should be able to give an opinion of value under any conditions, as long as they are spelled out at the outset.
Most appraisals are used for factual support.
During the time that you negotiate with the Lender, they require either a BPO or an Appraisal. The purpose of the Appraisal is to show the Lender the value of the property.
Come join me in Orlando, Fl August 28-30, 2009
for my 3 Days Live Short Sales Training Event!
Click Here
To Your Success,
Hunter Paschall
407-772-2274
WHAT IS AN APPRAISAL?
2 comments • Hunter Paschall • August 24 2009 11:47AMDetermining the Market Value of a Home
It is important that you know what a property is worth so that you can negotiate with the Seller/Bank.
There are many different ways to determine the approximate value of a property.
If the value of the property is close to what is owed on the property you will have to obtain a short sale in order to purchase the property.
The property values in Florida are changing daily like many other States.
Knowing the condition of your market whether you are in a hot market, down market, slow market or fast market is an important factor.
The true value of the property comes into consideration when dealing with the Mortgage Companies.
Below is a list of ways that you can determine the value of the property.
Please note that when considering comparables on the property you will need to look at houses that sold within 1 mile radius or less with no more than a sale date of 6 months back from the date you are analyzing the property.
Multiple Listing Services (MLS):
Having access to the Multiple Listing Services is a great way to determine the true value of the property.
You should build rapport with a Realtor so that you can have access to the MLS if you are not a Realtor yourself.
Property Appraisers Office:
This information you would obtain from your Property Appraisers Office, in the County which the subject property is located.
Usually you can find this information on the internet.
When on your Property Appraisers website, look up the subject address and search for comparable sales in the neighborhood.
Zillow:
This information you would obtain from www.zillow.com. In the search field, on the website, type in the address of the subject property.
It is OK if you do not have the zip code but it will probably work better if you did. Click on GO. It will pull up an aerial of the house.
Click on the COMPARABLES link to pull up a list of comps. Look at every property that sold within the last 6 months.
Bank of America:
This information would be obtained from the Bank of America. Go online to the following website:
http://bankofamerica.cyberhomes.com. Type in the address of the subject property, properties near your subject will appear.
Come join me in Orlando, Fl August 28-30, 2009
for my 3 Days Live Short Sales Training Event!
Click Here
To Your Success,
Hunter Paschall
407-772-2274
1 comment • Hunter Paschall • August 21 2009 11:02AMTeaching Real Estate at UCF University of Central Florida
I was asked to speak at UCF (University of Central Florida) last week and I had a blast.
I did a 2 hour presentation teaching college students interested in business/financial about
the power of taking action on your passion and how awesome a career choice in Real Estate is.
I let them in on the current Real Estate Market, Foreclosures, Short Sales and you could
hear a pin drop, they were a great audience.
I would like to help other college students reach their dreams and be a success.
If you would like me speak at your school please give me a call at 407-772-2274.
To Your Success,
Hunter Paschall
3dayslive.com
Coming to Orlando, Fl August 28-30, 2009 3DaysLive Short Sales Training Get Information Here!
0 comments • Hunter Paschall • August 19 2009 11:41AMNEWS Blast!!! Hunter Paschall Short Sales Expert Makes The News Again!
NEWS Blast!!!!! I have made the morning news again twice in One month.
If you want to learn how I am getting this powerful free advertising you will need to join me at my 3 Days Live Short Sales Training coming up in two weeks!
August 28-30, 2009 in Orlando, Fl
You can sign up here!
I will show you how to get your properties on the Local /National News and get them sold Fast.
I am the local expert in the area of closing deals and Helping the homeowner out of foreclosure.
I am closing deals and helping my students do the same thing day in and day out. Not just talking about it but making it happen.
I don't just do this locally, I am also helping students across the country find their dream and make it happen.
People have been calling us about our Houses for sale and the phone is blowing off the hook!
See the news here!
See the listing Here!
Have a Great Day! :)
Hunter
407-772-2274
0 comments • Hunter Paschall • August 14 2009 12:07PMFree Webinar Wednesday Aug 12th BPO and Appraising with Hunter Paschall
Free Webinar August 12, 2009
8:00 -9:30 pm ESt
I will be discussing the BPO & Appraising!
Join the Webinar to familiarize or update yourself with this Short Sales Procedure
This is a FREE TRAINING Folks. Do not pass up this Opportunity!
If you have any Questions, now is the time to ask. Please submit all Q's prior to the webinar to
bpomanager@cfl.rr.com
Space is limited.
So sign up Now.
Click Here
To Your Success,
Hunter Paschall
407-772-2274
0 comments • Hunter Paschall • August 10 2009 01:46PMShort Sales Investing takes Hunter Paschall to Las Vegas!
His topic is Making Millions In Foreclosures. Telling his story about how he invested in himself
and now is giving away 20% of his income to help the needy.
Before the event I was able to relax by the pool and enjoy Vegas.
Are you interested in Short Sales?
Looking for answers?
Look no further!
Come join me at his 3 Days Live Short Sales Training Event August 28-30, 2009
3DaysLive.com
To Your Success,
Hunter Paschall
407-772-2274
2 comments • Hunter Paschall • August 10 2009 11:05AMHunter Paschall Short Sales Training Expert feels Earthquake in North Carolina talks to News on TV
assistant Pam and her husband Charlie. We were on our way to ride the largest whitewater
rafting in the southeast where the 1996 Olympics was held.
TV asked me about the earthquake and what it felt like.
Come join me in Orlando, Fl August 28-30, 2009
for my 3 Days Live Short Sales Training Event!
Click Here
To Your Success,
Hunter Paschall
407-772-2274
0 comments • Hunter Paschall • August 06 2009 01:24PMFree Webinar Tonight - Forms & How to Present your offer to the Bank! with Hunter Paschall
Free Webinar Tonight August 5, 2009 8:30 -9:30 pm EST
I will be discussing the Forms & How to Present your offer to the Bank!
Join the Webinar to familiarize or update yourself with this Short Sale Procedure
Space is limited.
So sign up Now.
Click Here
To Your Success,
Hunter Paschall
407-772-2274
0 comments • Hunter Paschall • August 05 2009 10:31AMBuilding a Buyers List Online with Hunter Paschall
If your properties on not on the internet, you are losing valuable contacts.
Along with advertising in your community (see blog Building a Buyers List is a Must) it is essential you are showing off those properties online.
There are many places you can do this online for free such as classified ad sites.
Think of these places as an advertising tool to get email in your box and the phone ringing!
Do yourself a favor and be organized before you start listing to save you valuable time.
Make sure you have the information about the home ready.
Bedrooms, bathrooms, Sq Ft, year home was built, and of course special things about this home that would make it appealing.
Each classified ad site is basically the same in what information you need to put in.
Always include your contact information at the bottom of each listing. (Phone or email)
Put your slogan on word pad and keep that open to copy and paste.
Example: Contact me today at 407-834-1325 if you have any quesitons, glad to help.
You have taken photos of the homes and they need to uploaded to your computer.
One of things my marketing manager passed along to me was how many people are not organized when it comes to photos.
Yes, we all the tendency to upload photos to our My Pictures and are astonished when we want to find one and see we are sorting through a hundred!
This is time consuming and can be avoided.
In your My Pictures Folder you need to have a master folder called Homes For Sale.
In that folder make a folder for each address. 1234 my street, city and upload the pictures for that address only.
Upload the next set of pictures for the next home with that address 123456 my street, city.
When you are adding your information and photos to the classified ads you now only need to go to the folder for that address and your pictures are ready for you.
Catch potential buyers and investors eyes!
You title is a major key to you success. I am sure you have seen this in email marketing.
Take a look at your email and think about what you delete immediately because you do not like the title or think it is spam.
Consider this when writing the title for your listing on these sites.
Example: Buy one House - Get One Free
Would you want to see what this is about?
You are not alone, many people did and this was a title on one of my homes for sale classified listings.
I had two homes on one property in pre foreclosure. The investor could buy up the entire property at a low price and there were two homes available.
The deal was closed and I did get many phone calls and laughs about that heading. It brought attention!
Consider your target audience for each home. Is it Move in Ready, near Disney World, Big Beautiful Pool, a foreclosure that must sell now!
Take the time for your title and it will be valuable time well spent.
Here are some sites you can use to market your property:
Postlets.com – This site allows you to create an HTML flyer without knowing html
Craigslist.org – The HTML flyer can be placed on this website
FinalHunt.com Free Property Listings
NationalRealEstatePages.com
ListingVue.com
Kijiji.com
MULTIPLE LISTING SYSTEM:
The MLS is a database that Licensed Realtors use to list and sell their properties. Usually, you can make an arrangement with a Realtor to let you access their MLS, if not, 3 Days Live can list properties in the Greater Orlando Area for a flat fee of $499.00.
To Your Success,
Hunter
407-772-2274
5 comments • Hunter Paschall • August 03 2009 02:08PMBuilidng a Buyers List is a Must!
One of the most important things you can do is to build your buyers list. What good is it to go to all the work of investing and preparing the property if you have no one to purchase? Your goal is to focus on cashing out and close the deal from the moment you made the investment.
So where do you find these buyers. With today's real estate market offering so many homes, it is competive but not impossible.
Here are some of the things I do to prepare:
Signs:
Your signs should be placed in the front yard, around the neighborhood and in surround areas, such as 4 way intersections, the entry to the neighborhood, and roads leading to the property. They should say something along the following:
NO BANK QUALIFYING – 3/2 GARAGE TELEPHONE NUMBER
0 DOWN – 3/2 GARAGE ALL CREDIT TYPES INQUIRE - TELEPHONE NUMBER
MOTIVATED SELLER – MUST SELL – 3/2 GARAGE TELEPHONE NUMBER
Flyers:
It is recommended that you always have flyers available and when you put out flyers, you always leave a minimum of 25.
Your flyers should have:
“Buyers Application” printed on the back
Have the Property Address
Picture(s) of the property
Your contact Information
Open House (if applicable)
Pricing (if applicable)
Be sure to add details of the home and a bright or colored paper will make them stand out.
Place them in a flyer box in front of the home so people can see them as they drive by and inside the home.
You can also advertise with your flyers at grocery stores, gas stations, real estate offices and more.
See what works for you in your communtiy.
Lockbox
You should leave a lockbox on the property and have 2 keys. 1 keep one in the lockbox and 1 keep the other with me at all times, either in your car or on your key ring
I find that the lockbox offers me more flexability for a buyer to view the home and they do not have to wait for an appointment.
CLEAN UP:
After the BPO you want your property to be appealing to buyers. You will need to clean up the house to make it comfortable to buyers.
Clean the Debris from the Front and Back Yards
Clean Debris from the Garage (if applicable)
Have the Yard Mowed
Wipe down Counters
Vacuum (if applicable)
Open all the Blinds
Next Blog " Building your buyer list online" coming soon...
Join me in Orlando, Fl for my 3 Days Live Short Sales Training Event
August 28-30, 2009
Get more Information Here
To Your Success,
Hunter
407-772-2274
1 comment • Hunter Paschall • July 31 2009 09:58AMContent © 2009 'Frequent Contributors'. Design © 2009 ActiveRain Corp.
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