The Role of Appraisals in Home Selling

Appraisals aren’t just important for homebuyers. They’re just as important for home sellers.

Home appraisals are typically ordered by lenders who want to determine the value of a home before they decide to approve a loan to purchase it. They also need to know the value just in case the buyer defaults and they have to take over the property and sell it.

An appraiser looks at three to six recent comparable sold properties in order to determine its value. One of the problems with this method is that appraisers don’t have a chance to walk through any physical properties—they just have online data. That data may or may not be accurate.

While appraisals are typically thought of in terms of buyers, sellers need to be aware of them too. There are a few different ways in which you can help your home appraise to where you want it to. 

Make sure your home presents as well as possible.

The easiest way is to make sure the home presents as well as possible. This involves opening blinds, turning on lights, and making sure the yard is perfect, among other things.

Another thing that could be helpful is leaving out a list of features and upgrades that you’ve made to your home to show how it’s unique. This could potentially increase the home’s value in the appraiser’s mind. If they don’t know if something is new or remodeled, they will assume that it’s not and you’ll miss out on the added value.

If you have any questions for us about appraisals or if we can provide assistance of any kind, give us a call or send us an email. We look forward to hearing from you.

Why a Professional Realtor Is a Better Choice

Many sellers considering selling their homes themselves to avoid paying commission to a Realtor. Today I’m here to talk about why that’s not the best idea.

Today I’m with my listing partner Amy Moser to discuss some of the dangers of trying to sell your home by owner. 

Many sellers consider selling their homes themselves to save on the 5% to 6% commission that comes with using a real estate agent. But statistically, homes sell for more money when they’re represented by a Realtor. According to the National Association of Realtors, they sell for 16% more than if they were a For Sale By Owner property. 

When you list with a Realtor, your home is put on the Multiple Listing Service (MLS) and exposed to thousands of Realtors who are working hard to find suitable properties for their clients. Additionally, most serious buyers are working with a Realtor because it doesn’t cost them anything to do, as the commission is paid by the seller. 

If you’re trying to sell your home by yourself, you have all of your personal contact information out for anyone to look at. Without an agent, there is no one to screen these individuals before they call and ask to walk through your home. According to Amy, these sort of buyers are usually looking for the best deal, the biggest discount, and won’t qualify for traditional financing, so they’re looking for someone to carry their mortgage, which will be you.

Most people are not that brutally honest.

When you hire a real estate agent, you have access to all the most current real estate contracts, legal disclosures on your property, representation on what is included and not included, and reduced liability if the deal falls through. By working with a Realtor, you will be able to avoid buyers that prey on sellers who don’t have representation. 

The last piece that I want to talk about is that selling a home is a lot of work. “There are many parts prior to even getting an offer on your home,” Amy says. Some of these parts include marketing for your home, and then a checklist of items that need to be taken care of that protect you as the seller during the process, like inspections and appraisals. “Very few real estate transactions go through without any hiccups,” Amy says.

Another benefit to hiring an agent is they can act as a buffer to receive any feedback on the home after showings. Most people are not that brutally honest and feel uncomfortable telling a seller about things they think the seller should improve on to their face. Having an agent to take in that information and communicate it to the seller can help get the home sold faster and for more money.

If you have any additional questions about the benefits of hiring a professional Realtor, or you’re looking to buy or sell a home, give me a call. I’d be happy to help!


Also, take a look at our latest 360 degree home tour! You can explore each corner of the listing at Morningwood Way as if you were there in person. Click here to check it out.

Why You Can't Trust Computer-Generated Home Valuations

Many people turn to websites to try and find out what their home is worth but fail to realize how inaccurate these computer estimates can be.

Are online home values accurate and trustworthy? I get this question quite often.

The truth is that when you consult a website for a valuation of a property, the value it kicks back isn't accurate. This is because you're asking a computer to generate a value for your home based on multiple sources of data. However, that data may or may not be anywhere near your actual property.

This could be data from the county, including your home's square footage, lot size, and bedroom/bathroom count. A computer certainly doesn't know whether your house has been remodeled or updated at all. On the other hand, a computer also won't know if your home is the only one in the area that hasn't been updated and sold for a premium.

There are too many details about homes that a computer can't possibly know.

A computer also can't account for things like your property backing up to public land, being on the busy street, being on a golf course, or opening up to a park or preserve. There are simply too many details about homes that a computer can't possibly know or understand. 

If you've thought about selling your house and you'd like to know what the actual market value is, I'd love to come out and give you a personalized market evaluation of your home. In the end, your home is worth what an able buyer is willing to pay for it, not what a computer says.

If you'd like to know what your house is worth or you have any other questions about the Bend real estate market, you can always give me a call or send me an email. I'd be honored to help you!