Avoiding Under-Appraisals

When it comes to a car, there’s virtually nowhere for its value in the market to go but down. By the sixth year of ownership, a brand new $30,000 sedan would have dropped in value by nearly a third. Houses, on the other hand, are different; depending on factors like the state of the real estate market, its value can either swing up or down.

Residents find it difficult to price their home as high as possible due to the sheer investment in home improvements for it to look appealing to an appraiser. Nevertheless, even with a thorough appraisal, it won’t guarantee a good price, especially before closing. This results in an “under-appraisal,” a real estate phenomenon common in both the U.S. and Canada.

With tools such as the Multiple Listing Service® (MLS), under-appraisals should’ve been relegated to history. The MLS® is as accurate as a buyer or seller will get as far as local real estate prices are concerned, being a hodgepodge of homes for sale. While it’s not good for an appraiser to give a low value, so is the homeowner asking for a higher, unreasonable one.

Every group in the real estate market has tons of data to rely on to reduce the frequency of an under-appraisal. The appraiser has the right to give a low price for your house, given that he can justify reasons for this outcome. However, you also have the right to ask for a review of the appraisal, given the same conditions. 

Hasten Your Home Sale with These Tips

Relocating is never easy and neither is selling your old home to finance the new one. When months pass by without any buyers, consider doing home improvements to make your property more attractive and increase its market value. Where do you begin though?

2014 will be Great for Real Estate in Calgary

Retrospectively, 2013 was a good year for real estate in Calgary. Sales data disclosed by realtors indicate significant sales upsurges from 2012 alone, for single-family units, condominium apartments, and condominium townhouses. Real estate experts are even convinced that this feat can be replicated for the next two years.

In other words, there seems to be no better time to buy real estate in Calgary than now. Many realtors support this, saying that employment growth and migration in the city have augmented, backing the demand for housing, increased sales, and pricing. Others also mention how the city’s economy in 2013 has outperformed almost every other region in Canada in the previous year. With luck, the city may be able to reach the same heights for 2014, thanks to the new influx of jobs and employment opportunities.

Indeed, the job market shows no signs of slowing down and this helps the real estate market to thrive. Realtors also add that companies worldwide have been hiring professionals throughout Canada, and as a result has put Calgary on the map. Despite the calamities that struck the metropolis, residents show a deep sense of community and togetherness. This proves that Calgary is a great place to live in, not only because of its growing economy, but also because of kinship and belongingness.

Making the Play for New Agricultural Land

Farming is one of Canada’s main economic assets. The wilds of the Canadian Shield and even the Prairies already host fertile tracts of land. If you are looking to invest in the Great White North’s agriculture and farming industry, you will be in luck considering government efforts to lower operating costs. How do you make the first move, even with a business plan in place?

You can start by approaching a reputable real-estate agent who knows the market well and is versed in farming and property laws. They can set you up with a number of viable farm property listings around your chosen area. All that remains is to research on all listings and weed out the one property that fits the thrust of your business. The research can uncover some factors that will affect the business’ long-term goals. For instance, you and your realtor must discover that there are no pending disputes with the property or any development plans already eyed for it, such as a road cutting through the area.

Your Realtor may help you hire a surveyor to analyze the area and further determine its viability. Have the property appraised and negotiate with the seller at the same time, then secure financing from institutions skilled at land purchases.

Investing in a new farm can be a way to a quieter life. Learning which properties are right for you is a step in the right direction.