Happy with Service
Just wanted to drop you a note and say how much I appreciated your assistance in selling my home in Petal. As you know my house stayed on the market with a previous realtor for a little more than a year and we never got a solid contract offer. However, thanks to your diligent efforts we were able to close on a deal in less than 60 days. Your professionalism, attention to detail and courteous attitude were evident from the start and enabled me to feel comfortable and confident that my house would sell quickly. Throw in the fact that you personally delivered the check to me after final closing papers were received from overseas and I have nothing but the upmost respect for you and your business. Thanks again and just know that you can use me as a reference any time. Keep up the good work!
Van ArnoldUniversity of S Miss
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About Appraisals >Three Caballeros
When you buy a house or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser will look for "three caballeros" or three "comparables" -- homes that are very similar to the one you are buying -- and will make adjustments to reflect the differences between the properties.
Housing patterns tend to be homogenous, meaning that homes worth $300,000 are usually located in $300,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price.
This is not the only factor considered in determining the worth of a property, but it is an important one. The buyer or seller may view the property as a home or an investment, but lenders view it in a completely different way. To a lender, property means security in the event a borrower fails to repay a mortgage. Therefore, lenders must know real estate values in order to limit their risks.
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| Q |
Where is the world's longest spiral staircase?
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| A |
The White County Coal Mine in Carmi, Illinois has a spiral staircase that measures 1,103 feet and has 1,520 steps. |
 See More Real Estate Trivia > |
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