Why you should get an appraisal from Young Real Estate Appraisals
Year after year, thousands of people in California purchase, sell or refinance their home. A lot of these transactions consist of a simple line item for an appraisal. And even though there are an increasing number of automated home valuation methods that might appear more cost-effective than an appraisal, almost all lenders still want a local expert because the stakes are very high. Is obtaining a mortgage the only reason to get an appraisal? Are there more instances when the services of a licensed, independent real estate professional could be helpful? Of course.
Appeal your tax assessment in Riverside County
If you live in an area where the property value has declined, it's possible you're paying too much in property taxes. An appraisal from Young Real Estate Appraisals is your best evidence when building your case. At Young Real Estate Appraisals, we're qualified to assist you in challenging your tax assessment.
Get rid of PMI to lower your mortgage payment
When the amount being loaned to the home buyeris more than 80% of the actual value of the real estate, nearly all lenders ask home buyers to purchase this added insurance plan. That policy is Private Mortgage Insurance, or PMI. This additional payment is often folded into the monthly mortgage payment and is soon forgotten. This is bad because PMI isn't required when the leftover balance of the loan - whether through market appreciation or principal pay down - decreases below the 80% mark. In fact, the Homeowners Protection Act (HPA) of 1998 was passed by the United States Congress that requires lenders to eliminate the PMI payments when the loan-to-value ratio conditions have been met.
If you'd like to do away with PMI, Young Real Estate Appraisals will provide you with a statement regarding the value of your home. The expense of the home valuation can often be offset in just a few months because you'll no longer be paying the PMI.
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Divorce settlement with fewer hang-ups
A divorce is an especially horrible event for the parties involved, and it is often further complicated by the troublesome decision of who keeps the house. Regardless of the circumstances, it's a good idea to get an appraisal from Young Real Estate Appraisals so both parties are fully aware of the true market value of their property.
The parties will have a clearer picture of what price to set, if they want to sell the home. And if a "buyout" is the chosen option, both parties will feel like they've gotten a fair evaluation.
Ascertain a fair and accurate valuation for estate liquidation
The loss of a loved one is a hard time in life, and settling an estate from a death, or probate, often calls for an appraisal to establish Fair Market Value for the real estate involved. We ensure the highest degree of discretion, as we're bound with confidentiality by the ethics provision within the Uniform Standards of Professional Appraisal Practice (USPAP).
Most Americans don't have dedicated estate planners or executors to take care of these issues, unlike wealthier individuals. A home or other property often makes up an unequal share of the total estate value, so knowing the true worth of the real estate at hand is of essential importance to ensuring disputing parties walk away knowing they've gotten an honest deal.
Move to or from Riverside County for work
We are aware of the headaches involved with an employee relocation. We take great care in setting up a convenient appointment time for the appraisal inspection. We encourage relocating employees to provide feedback on the positive aspects of their property, as well as information about any recent sales or listings in their neighborhood that they want considered during our thorough inspection.
Sell your home promptly — for the right price
Whether you want to sell your home on your own or with the help of a real estate agent, a professional appraisal can help you make a better educated decision when determining your asking price. Unlike a real estate agent, an appraiser has no vested interest in what amount the house sells for. Our fees are calculated on our efforts to complete the appraisal report and and aren't related to the sales price.
We examine the difference in value things like an additional bathroom or a kitchen remodel can make on a daily basis. Seeking a professional appraisal is a reliable way to determine what improvements will add value and what an appropriate sales price is for your home so you don't come up short or have your house on the market an unnecessarily long time, because we're experts in knowing how long houses are one the market.