Happy Thursday!! 05.26.11

Good Afternoon~

Do you know what an appraisal is?  According to Wikipdiea, it is “the process of valuing real property.  The value usually sought is the property’s market value”.  Why does this matter?  I have dealt with two homes in the last month that did not “appraise”, and the Buyers and Sellers seem to be at a loss of what to do.  Here is an example:

AGREED UPON CONTRACT PRICE: $100,000

APPRAISAL VALUE:  $85,000

Ok, so what does that mean?  Mortgage companies will not “lend” more than the value of the home.  In this case, the Buyer & Seller will have to agree to:

a) Seller reducing the CONTRACT PRICE to $85,000 OR
b) Buyer paying the difference with a personal loan/cash OR
c) Combination of a & b OR
d) Walk away from the contract leaving the Buyer & Seller frustrated

All of that is extremely confusing & frustrating, so if you have any questions, please call, text or e-mail me.

WeatherBug has us as Partly Cloudy, with temps between 86/56.

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STARKVILLE REAL ESTATE UPDATES

NEW LISTINGS:

PENDING LISTINGS:

SOLD LISTINGS:

ON A PERSONAL NOTE…

I am having trouble realizing that everything happens according to His will.  It makes logical sense to me, just not emotional. 

TIP:

Find a mentor.  Whether it be in your job, family life or Christian walk, find someone who’s “been there…done that”.

CHALLENGE:

Eat at the Supper Table three times this week.

PRAYER REQUESTS:

How may I pray for you today?

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