Do Foreclosures and Short Sales in My Area Affect the Value of My Home?

Even with the housing market showing signs of a rebound, there are still remnants of the housing crash in the form of foreclosures and short sales throughout the country. If you see foreclosure signs popping up around your Jacksonville neighborhood, you might be wondering if and how this will affect the value of your own home.

 

The short answer is that yes, short sales and foreclosures in your area can affect the value of your home and the amount you could receive if you were to sell. There are different factors, however, that can affect how much these nearby distressed properties may affect you and the value of your home.

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Mold Remediation – What Is the Process?

Mold is a very serious problem that, when discovered, must be addressed as soon as possible. If your Jacksonville appraiser discovers mold during your appraisal, the calculated market value of your appraisal is going to be much lower than it rightfully should be, until you complete the process of mold remediation. So, what does this process entail?

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Real Estate Appraiser Vs. Home Inspector – What Is the Difference?

Many people use the terms real estate appraiser and home inspector interchangeably, even though these professionals perform significantly different roles. If you are involved in a real estate transaction of any kind, it is important that you understand if it is a Jacksonville appraiser that you need, or a home inspector.

The Purpose of a Home Inspector

Individuals considering purchasing a property typically hire a home inspector. A home buyer will often be the one who is responsible for finding and paying for the services of a home inspector so that they can make a more informed decision about whether or not they would like to commit to the purchase of a home.

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How to Buy a Home

Buying a home is a major life milestone, and one to be celebrated. It can also, unfortunately, be a very complex, overwhelming, and daunting process. You might not even know where to begin. Below is a breakdown of the basics of home buying.

 

1. How Much Can You Afford?

Before you start looking at listings and falling in love with properties, you must determine your budget. In addition to your income, you will need to take into consideration your expected mortgage interest rate, utility costs, and other monthly expenses.

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How to Sell a House

Whether you are moving across the country or simply to a bigger Jacksonville home, you will need to put your current home up for sale. Let’s go over a brief overview of the steps that are included in the home selling process.

Make Necessary Repairs

It can be much more cost effective to make repairs to your home before you ever put it on the market. If your potential buyer hires a home inspector who finds major signs of disrepair, the amount they try to negotiate off the buying price to cover repairs will likely be much more expensive than what it will cost you to make the repairs now.

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