"Just want you to know that we know you work hard for the fee you get from your clients.  We also know that we, as buyers and sellers, are paying for the years of experience you've got under your belt, not just the hours you put in on our behalf right now. We KNOW you know way more than we do about this whole process and we would be fools to try to do it without you."

--Rebecca & Sharon Flynn

more from our clients

A home appraisal report provides an estimate of the current value of a particular property in an open and competitive real estate market. The appraisal contains information about the property such as location, lot size, square footage, upgrades and year built. Following are four things you should know about appraisals:

1. The buyer pays for the appraisal, which can vary in cost.

2. Appraisers are licensed by individual states.

3. An appraiser compares the features and amenities of a property to those of at least three other comparable properties sold in the area.

4. Lenders require appraisals to be done when a buyer wants a loan for a home purchase or refinance.
Negotiate an appraisal and loan contingency when you purchase a home so you can get your deposit back if the home appraises for lower than the sales price.

In this current real estate market many home owners and home sellers are choosing to rent their homes out instead of selling them. Homeowner’s whose homes have decreased in value, would rather wait until the market improves before selling and risk losing their current equity. The idea of having a tenant pay the mortgage until the market rebounds sounds like an ideal solution. Right? Well, for some it is, but for others this may be a nightmare. Which will it be for you?

Here are some questions to consider before making the decision to rent your home or sell:

• Are you prepared to be a landlord?
• If a pipe breaks or the furnace goes out, will you be prepared to deal with repairing the problem immediately?
• Will you be renting the property yourself or hire a Property Management Company to help you? Property management companies on average charge 10% of the monthly rent.
• What will you ask for rent?
• Is it the standard rent for the area and the home amenities?
• Will the rent pay your mortgage, investment property insurance and other expenses that will occur with tenant/landlord relationships?
• Can you afford to pay your mortgage if the tenant does not pay the rent?
• Will the property be maintained and kept up to your standards?
• Are you versed in landlord/tenant laws?

After answering these questions, and you decide that renting the home is not the right choice for you, re-evaluate your timing to sell the home. In theory renting out the home sounds like the perfect solution. But if waiting to sell in the future could cause greater financial loss than selling now, then, what would you do?

Golden Realty
PO Box 5093
Eugene OR 97405
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