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Home Selling in 33544 : Real Estate Advice

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  • Home Buying2
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Activity 2
Fri Apr 22, 2016
Wayne Turner answered:
How will foreclosures and short sales affect my homes value? It depends on a couple of variables.

1. The number of foreclosures and short sales within the community is a factor. You have to also look at how many other homes have sold that are not bank owned sales or short sales. It is the appraiser professional to the value of the home. Appraiser use the closes 3 homes that best match the subject home they are appraising. If two of the homes are banked owned closed sales and one is a typical sale from an individual owner the appraiser has to use those comps however, they will take into account and note that the comparable homes were banked owned.

2. If there are 3 comparable home sales that are not foreclosures the appraise will use the traditional sales and not the foreclosures. If there are multiple foreclosures in an area over months or even years this can slow the appreciation of home values.

NOTE: Appraisers pull six months of sold data to find a home that compares to the subject home they are appraising. They also stay within a three-mile radius of the home they are appraising. They will use the homes that are the closest to the subject home they are appraising.
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Wed Jul 11, 2012
Fred Strickroot MBA, ePRO answered:
I would be happy to assist you with determining the status of a home but I will need and address.

Sincerely,

Fred Strickroot, Realtor®, MBA, CDPE
HomeNet
Florida Lic. Real Estate Brokerage
2154 Seven Springs Blvd, Suite 103
Trinity, FL 34655
1-888-864-2758
727-478-8997
homenetyouteam@homenet.us.com
http://www.homenetyouteam.com
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