Home Property » home property appraisal

Does refinancing a house in California at a higher appraisal value trigger a higher property tax?

admin — Fri, 14 May 2010 13:55:52 +0000

I thought that under Proposition 13 the appraised value of your home for property tax purposes would not be revised upward while you own the house. I recently refinanced, and the appraised value for the re-fi is significantly higher than the appraised value when I first bought the house. Someone just told me that my property tax would now go up as a result of the higher re-fi appraisal. Is this accurate?

Refinancing in California will not increase the taxes.

Courthouse Auction – Real Estate Wholesale – Champaign Homes

admin — Sat, 17 Apr 2010 21:46:43 +0000

Schwaps (http://www.schwaps.com) founder, Justin McClelland (http://www.justinmcclelland.com), chronicles his company in its beginning phase. In this video he traveled to a Real Estate auction held in Champaign, IL. The primary purpose was to get familiar with the process and to obtain wholesale property buyers for the cities of Champaign-Urbana.

Duration : 0:2:45

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Home Appraisal, Appraiser in Kingsport TN 37663

admin — Wed, 14 Apr 2010 20:21:18 +0000

Welcome to our micro site.

AAA Appraisal Service is a leading provider of real estate valuations for the mortgage lending marketplace. With many years of experience in the business, we have a proven track record of reducing lenders time, efforts and costs in managing the appraisal process.

Short Turn-Around Times (72 hours from date of inspection for typical property)
Highest-Quality Appraisal Reports
On-line Status Reports
Electronic Ordering and Delivery
Competitive Pricing

Duration : 0:0:43

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HOME FOR SALE REAL ESTATE in GRANITE BAY, CA – 916-791-0535

admin — Sun, 11 Apr 2010 17:38:10 +0000

Visit www.LiveInGraniteBay.com for additional details! For a personal showing, call Elaine Bierstock of Coldwell Banker at (916) 791-0535. Located on an approx. 2.3-acre lot in gated Winterhawk subdivision, this estate property offers just about everything you could ask for. Beautiful single story home, wonderful floor plan, updated and remodeled as needed. But that’s not nearly all. Conveniently detached by a breeze way, yet under the same roof line, you will find the GUEST HOUSE and pool house offering an additional approx. 2463 Square Foot (per appraisal) of living space containing a theater room, a huge game/bonus room, one full bath, one bedroom, and a living room upstairs. Fabulous pool, spa, and fire pit. Enjoy the 10+ Car Garages with Workshop, RV and/or Boat Storage, and room for more. Highly acclaimed Eureka School District and Granite Bay High School.

Duration : 0:2:28

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Our commitment letter fell through, not due to our finances but that the property is log home. Is this legal?

admin — Sat, 10 Apr 2010 11:29:45 +0000

We have followed every detail and met it. Found a local mortgage broker, a local real estate lawyer, and local lender. We received our commitment letter. We also were approved through the VA. Our finances are in order and we are easily able to afford this property. The appraisal for the property was even more than what we agreed to purchase for! SO, long story short, we were supposed to close this week. All the paperwork was in the hands of the underwriter. Suddenly, our mortgage broker (who we have been working with for a month) seems confused and tells us he didn’t know that this was a log frame home. Then the lender tells us that the investor was going to sell the loan, but now will not finance because this is a LOG home! A $300,000, built in 1990, in perfect shape, LOG home. What’s the deal? Is it legal for the lender to do this after giving us a commitment letter? There is nothing wrong with the property, OR our finances. Please advise!
Additional info: The underwriter approved it. When it was presented to the investor, it was rejected.

The commitment letter is not an absolute legal binding agreement, it has many conditions required within the agreement,

The majority of loans are not keep in house with the original issuer of the loan, its sold in a secondary market to allow equity to follow into the bank/lender to do other deals

if this lender does not believe your note can be sold on the secondary market because its a log home you will have to look toward other lenders, there should be a lender that specializes in these types of homes

An resent article pointed out that many people who built home out of used tires, used plastic etc are finding they can not refinance because no lender wants to touch this type of home and there is no re-sale market for them

I’m talking about very nice 500K homes whose foundation insulation is used materials, not a health problem just no secondary market for those type of loans after the crash

Tim Peacock – Real Estate Appraiser | Appraiser In Monroe, LA

admin — Thu, 08 Apr 2010 17:22:22 +0000

Appraiser, Home Appraisal, Property Appraiser, Appraisers, Appraisal

Duration : 0:0:39

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Why would a home tax appraisal go down?

admin — Thu, 08 Apr 2010 14:35:15 +0000

I just got my 2010 property tax appraisal and the value of my home has gone down 22,000 dollars. I am freaking out, I have no idea what would cause this. The decrease is on the home not the property. There is nothing wrong with my home.
I was thinking of putting my home on the market and now I am worried that I won’t get what I ask for it. The tax appraisel sheet I have also has a column for Market Value and it is the same amount.

This is great for tax purposes but not for selling.
I guess I will not be selling any time soon.

The value of your home is based on a market. For example, if you wanted to sell your home today and hypothetically there are not a lot of homes for sale out there, your home would be really valuable because buyers don’t have a lot to choose from and your home is rare. The value would then go up, and so would your taxes – which is based on the market value of your home.

The opposite has happened, there are tons of homes for sale right now, many are foreclosures and short sales which are really cheap, so your home has gone down in value because there are tons of homes now – they’re all cheap, and your home is no longer rare. If you were a buyer, why would you buy your own house at a high price compared to many other good homes in your area that are now cheap? You wouldn’t, the market price is lower – so that’s why your home value has dropped with the market. Now, once these homes all get bought up, and the market goes back to only having a few homes – your property value will naturally go back up.

This is all assuming that you have done nothing to the house to make it go down in value, and that you didn’t get neighbors who dropped the value of their homes by destroying it – which in turn lowered the value of your entire street. So, don’t worry like everyone else has said, and just hang on to your house until the values go back up (it fluctuates like stock prices).

I have included in the sources an article I have written about this specific issue. Homeowners are wondering why their homes are being appraised at a lower value (which is basically what you’re asking because your taxes dropped when your home value dropped), so I encourage you to check it out for a more detailed explanation.

How can I get my earnest money back?

admin — Tue, 06 Apr 2010 17:25:00 +0000

I signed an "agreement to buy and sell" contract a day ago for a home. I found out today that the home has been sold 5 times in the last 4 five years. My contract states that it is subject to home inspection appraisal and property disclosure satisfaction. We do not want this house and have called out realator and backed out of the deal. They are telling us that we can’t get our earnest money back because of our pre approval letter from the lender has been sent. How can we get our earnest money back?

If you back out of the deal now you do lose your money. As long as you have not signed anything other than the agreement making an offer on the house. Wait until the inspection and property disclosure you will probably find something wrong then and it will give you an out. Your realtor should have told you it had been sold several times. Good luck!!!

Las Vegas Short Sales Bootcamp – Real Estate Wholesale – Champaign Homes

admin — Mon, 05 Apr 2010 18:32:57 +0000

Schwaps ( http://www.schwaps.com ) founder, Justin McClelland ( http://www.justinmcclelland.com ), travels to Las Vegas to attend a Nathan Jurewicz Short Sale bootcamp.

Duration : 0:3:37

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When will property taxes reset? Appraisal and equity questions.?

admin — Sun, 04 Apr 2010 17:34:17 +0000

Bought a home in August. Taxes were very high as they were based upon old appraisal value and were non homestead. When will they reset to homestead rate? Also, the appraisal at closing was much lower than the local governments valuation of the property. Can I get that adjusted? Lastly, local township says home value is $200k. I bought at $145 and house was appraised at $154. What figure is used to determine equity?
No. I should have specified that I was referring to K and purchase price as compared to taxes.

Home price was $145k.

$154 for the year? Aren’t you lucky, I’m paying £1900 (about $3700) for a four bedroomed house.