The Triangle Is Your Place for Halloween Fun This Year

stack of pumpkinsIt’s that time of year again —  time to set out the pumpkins and the candy for the trick-or-treaters. Halloween will be here in just a couple of weeks.

If you’re in the Triangle and are looking for some Halloween fun, here are a few nearby options for kids and adults recommended by Linda Craft & Team, REALTORS®.

Celebrate Halloween 2015, Day and Night

Below are family-friendly events that take place during the daytime, dog-friendly events including dressing your dog in costumes, and nighttime haunted forests and Zombie walks downtown for the bravest adults.

A Night of Fright in the Triangle

If you’re the type of person who loves a good scare, check out these two places in the Triangle – Panic Point in Youngsville and Clayton Fear Farm. (Here you’ll find day and night attractions, with some family-friendly options.)

Their websites contain the specifics, appropriate ages, day or evening details, and more. These attractions can be very scary, so enter with caution.

Festive Daytime Fun for the Kids

For kids in Raleigh or Durham, there are two options that include rides and gathering pumpkins.

Hill Ridge Farms in Youngsville offers a hay ride and free pumpkin along with lots of fun kid-friendly activities. The Museum of Life and Science in Durham also offers a train ride, crafts, and pumpkins for riders on the Pumpkin Patch Express. Check both websites for details, times, dates, and more.

There’s also a 1-mile and 5k Monster Dash in the afternoon of October 25th, perfect for young kids or adult runners – especially in costume! The race will be held in Cameron Village in Raleigh.

Don’t Forget Fido

Dressing up the dog is very important these days. If you and your dog want to find something fun to do for Halloween, there’s a store called Unleashed in Downtown Raleigh in the City Market area that is hosting an event for your pooch.

On October 30th from 5pm to 9pm, come out to the Doggie Halloween Party by Unleashed with your dressed-up dog to mix and mingle with other pet lovers in the Raleigh area.

Zombies, Ghosts, and Goblins, Oh My!

If you’re part of the adult crowd that loves Zombies, make sure you join the Zombie Walk in Raleigh’s Moore Square on October 24th at 7pm. Check out their Facebook page for more details.

These events will be a lot of fun, especially if this is your first time visiting the Triangle.

The Triangle Is Fun During Every Season

The Triangle area offers plenty of things to do, and not just during Halloween. If you’re thinking of relocating to the Triangle area, you can become part of all of the seasonal fun all year long — there’s no place better to experience this wonderful area than as a resident.

We are your Triangle area real estate experts, and can help you find the home of your dreams. Search through our Triangle area resource center to discover the wonderful areas that make up the Triangle, or search Raleigh area homes for sale to find the perfect place for you and your family.

Have you already found your dream home in the Triangle? Contact us today at 919-235-0007 or linda@lindacraft.com and we can schedule a showing.

How New Regulations Will Affect Your Next Home Purchase

calculator and finance sheetNew government regulations have made changes to closings and home mortgages.

These federal regulations are known as TRID, which is an acronym within an acronym — TILA-RESPA Integrated Disclosures. We’re going to see that these changes are going to cost time and money.

If you’re buying a home in the Raleigh area, read more about what changes these new regulations will bring and tips for avoiding costly mistakes during your own closing.

What Are These Changes, Exactly?

The Integrated Disclosures are replacing the Good Faith Estimate, the Truth-In-Lending, and the HUD-1 Settlement Statement for borrowers. For sellers, the Closing Disclosure and the HUD-1 have to be done by the attorneys.

There Are New Timelines for Closings

Once the loan has been completely approved, the lender now has to send the new Closing Disclosure directly to the borrower rather than the closing attorney.

The Closing Disclosure has to be delivered to the borrower 3 business days before closing (or 7 business days if delivered by mail). If there are any changes to the APR, a new Closing Disclosure has to be issued, taking up another 3 days (or 7).

We expect that we are going to have a lot of delays to real estate closings, which costs a lot of money.

Choosing the Right Lender is Crucial

With these new changes to closings and mortgages, it’s more important than ever to choose the right lender.

You need to choose a local lender that has in-house processing and underwriting, and now that TRID changes are here, you need e-signatures so that your Closing Disclosure doesn’t have to be delivered to you by mail. If you’re buying a home in the area, we can recommend great Raleigh area mortgage lenders to help you choose the right lender.

Want to learn more about TRID and what you may experience during closing? Watch my latest video about TRID below, which includes quick tips about avoiding costly closing delays.

Buying a Home in the Raleigh Area?

Now that new regulations have come to mortgages and real estate closings, you want to avoid costly delays in your own closing by choosing the right real estate team.

Linda Craft & Team, REALTORS® are your Raleigh real estate experts, and we can give you up-to-date information about these new changes and advise you about ways to make your home buying process smoother. We can even help you choose the right lender. Call us today at 919-235-0007 or email linda@lindacraft.com and we can get started.

And if you need assistance searching for home, try our easy-to-use home finder to find your perfect home. Have you already found your dream home in Raleigh? Contact us today to schedule a showing.

Stonehenge is an Ideal Neighborhood in Raleigh

Relocating to Raleigh and trying to find the best place to live? Do you want easy access to Raleigh’s major highways and shopping centers? Are you looking for plenty of amenities in your neighborhood? The Stonehenge neighborhood has what you are looking for.

Stonehenge: A Popular Raleigh Neighborhood

Stonehenge, located right on the edge of Midtown and North Raleigh, is one of Raleigh’s most popular subdivisions.  There are many reasons for this, but number 1 is its location.

It’s Close to Raleigh’s Best Features

This Raleigh neighborhood is convenient to both I-440 and I-540 and is only a few miles from Crabtree Valley Mall. Within walking distance you will find Harris Teeter, Starbucks, restaurants and more.

Falls Lake is close by and a great area for water recreation. And you’re only few miles to Umstead Park for hiking and biking.

Stonehenge is close to North Hills and downtown as well, so it is easy to see why this location is ideal for so many.

A Variety of Amenities to Enjoy

golf course hole and golf ballStonehenge has an active social calendar with groups meeting regularly for different purposes, such as a book club and supper club. They also have neighborhood community events around the holidays such as Halloween and Christmas.

Nearby is the Seven Oaks Swim & Racquet Club, making summer fun and social connections even easier. If you enjoy golf, Wildwood Green Golf Club is right down the road from the Stonehenge neighborhood.

Stonehenge Homes are a Great Value

Additionally, Stonehenge has been one of the top appreciating subdivisions in Raleigh for over a decade. Homes range from $225,000-$450,000 with an average price of $300,000. A great value for homes in this area of Raleigh!

Find Your Next Home in Stonehenge

With such great amenities and a convenient location, Stonehenge is an ideal neighborhood to call home in Raleigh. If you’re interested in finding your next home in this neighborhood, search through all the homes for sale in Stonehenge, or contact us today at Linda Craft & Team, REALTORS® to schedule a showing.

3 Things to Love about Northclift

Northclift is a well established neighborhood, with many updated and renovated homes built primarily in the early 1970s. These residents are located in the heart of Raleigh – close to North Hills, Crabtree, downtown, parks, attractions, schools, and everything you can imagine within a few miles of home.

The Top Reasons to Love Northclift

But beside Northclift’s great location in Raleigh, there are several other aspects about living in the neighborhood that make it an attractive community. Let’s explore the best three things to love about Northclift.

3. Great Amenities

young girl in a swimming poolNorthclift backs up to Optimist Park & Pool, where there’s a year-round covered pool for laps or lessons, baby pool for the young ones, and a diving pool for the older kids.

Greenway access is nearby, which connects Raleigh in many different directions. Shelley Lake is a short distance away, accessible via the greenway, and a great place for walking and running.

North Hills has many options for dining and they also plan a variety of community events such as fun runs and family-friendly concerts.

2. Lots of Community Activities

Northclift has an active social media presence through the neighborhood website and Northclift Facebook page. The community organizes neighborhood potlucks, yard sales, picnics, holiday events, and a home & garden club.

1. Affordable Homes

Northclift’s real estate options are a top reason that residents love this neighborhood. This is a great place for young or retired families, has a long-term sense of community, and is in a very attractive price range.

See a listing you like? Contact us to schedule a showing.

Relocating to Raleigh?

If these three reasons are what you desire in your Raleigh dream home, then we encourage you to make the move to Northclift. We are happy to help you find the home that fits your needs and provide you with any resources you need to relocate to the area. Call us today at 919-235-0007 or email linda@lindacraft.com and we can get started.

Live, Work, and Play in North Hills

North Hills (also known as “Midtown”) is the dream location in Raleigh, North Carolina!

You are only a few miles away from downtown culture in one direction, and equal distance from great North Raleigh things to do in the other direction. Several new and established neighborhoods encircle this area, which is now well known for its upscale shopping, boutiques, and fine dining.

Let’s learn more about this hub of residential life and Raleigh culture.

North Hills: The Center of Raleigh Style

North Hills shopping center has a very active presence on social media, making it super easy to find events and social gatherings near your home.

Many long-term Raleigh residents can remember the “old” North Hills Mall which originally opened in 1960, with renovations taking place in the ’80s and ’90s. The impressive development we see today started unfolding in 2004.

A Bustling Business Center

Numerous businesses have made North Hills their home. The first large tower — known as the Captrust Tower — hosts many companies, and there are plans for the second and third towers to be built soon for even more employment opportunities.

There’s Always Something Going On at North Hills

There are many community events hosted at North Hills including family friendly events, stroller days for moms, outdoor concerts, farmers market on the weekends, Wellness Wednesdays, and a few 5K or 10K community runs benefiting various charities.

A Variety of Shopping and Dining Experiences

Inupscale restaurant with chefs addition to a long list of upscale shopping options, you also have Target as part of the complex.

For those of you who are outdoor enthusiasts, there is a large REI on site, as well as spas, children’s clothing, specialty stores, and groceries.

In terms of dining, North Hills has just about everything you’re looking for — Italian cuisine, fast food, barbecue, made-from-scratch desserts, and so much more. Visit the North Hills website for a complete list of dining options.

An Outstanding Country Club

North Hills Country Club offers fitness, 22 tennis courts, youth and family programs, fantastic dining, and opportunities for various social events, as well as corporate and banquet facilities for special events, too.

Nearby Hotels in North Hills

If you live in the North Hills area, there are now several options for visiting family members to stay overnight, including the Hyatt House and Renaissance Raleigh North Hills Hotel.

Make the Move to North Hills!

North Hills is Raleigh’s best location for fun events and local flavor, where everything blends together in the unique Midtown.

If you’re looking for this kind of culture close to your home, we invite you to check out the homes for sale in North Hills and give us a call at 919-235-0007 if you see a home you want to tour.

Why Brier Creek is One of Raleigh’s Best Neighborhoods

Before the late 90’s, there were only trees between North Raleigh and Durham along highway 70. The first houses were sold in Brier Creek in the fall of 1999. Today Raleigh’s Brier Creek neighborhood is a popular residential area. Times sure have changed!

Brier Creek is an Ideal Place to Call Home

patio furniture on back porchNow Brier Creek is one of the best neighborhoods in Raleigh and has a ton of homes featuring 2-3 bedrooms, hardwood floors, granite kitchen countertops, stainless steel appliances, and a large deck or porch.

In addition, the amenities, shopping, and proximity to everything you need is perfect for anyone in any stage of life. It’s convenient to Cary, Durham, downtown Raleigh, and Chapel Hill – you’re 20 minutes from anywhere you want to visit! Here’s why Brier Creek is an ideal Raleigh community to call home:

Easy Access around Raleigh

Living in Brier Creek, you’ll have easy access to major highways around Raleigh. I-540, I-40, and US-70 can take you just about anywhere.

You’re just 5 minutes from Raleigh Durham International Airport, 15 minutes to Falls Lake, and are close to downtown Raleigh, Cary, Chapel Hill, or Durham. The possibilities for work and play are endless when you live in this great neighborhood.

Great Shopping and Restaurants Nearby

Just moments from your front door in Brier Creek, you can find the best shopping and dining at Brier Creek Commons and Brierdale Shopping Center. Bars, restaurants, and many professional services are in these shopping centers, along with large movie theaters.

You can also find community events here such as GiGi’s 5K Run/Walk.

And if you’re in the mood for even more fun, head to Frankie’s Fun Park only minutes away.

Spectacular Amenities

One of the best things about your home has to be the location. Brier Creek has it all!

golfers on a putting greenAt the Brier Creek Swim & Tennis Pavilion, both swimming lessons and tennis instruction are available for all ages. Children can enjoy the splash pad and swim team, and everyone can take a fun trip down the water slide.

The fitness center offers state-of-the-art equipment and facilities, including cardio theatre, men & women’s locker rooms, cardio and weights, golf clinics, TRX, Zumba, water aerobics, and fitness evaluations, just to name a few.

Other neighborhood amenities include the country club with spacious banquet facilities, a golf course, and a spa with a steam room and microderm abrasion.

Find Your Dream Home in Brier Creek

Brier Creek is a wonderful neighborhood to call home! If you’re relocating to Raleigh and want to take a personal tour of the neighborhood or a home for sale in Brier Creek, connect with us today at 919-235-0007 and we can schedule a showing at a time that works best for you.

Safety Comes First In Real Estate Professions

Safety & Real Estate

Did you know that more real estate agents die each year showing houses than those killed in dangerous professions, like bull riding, stunt pilots, and motorcycle racers? As of now, 25 REALTORS® have been killed while showing houses. And, this number only increases when you consider all of those who were robbed, assaulted, and faced with other life threatening situations.

With that in mind, many real estate professionals are taking measures to ensure safety for both themselves and their clients. This information, provided by the Linda Craft Team, can help you know what to expect when meeting a REALTOR® in the Triangle and Greater Raleigh Area during your home search.

Meet REALTORS® At Their Office or in Public Spaces

steering-wheel-801994_640Last year the National Association of REALTORS® launched Safety First, where real estate companies mandate that home buyers must meet REALTORS® at their office or a public space, and potential Raleigh home buyers must provide identification.

Open Door was launched to further help protect real estate professionals. Sometimes, meeting at the agent’s office and riding with the REALTOR® can be an inconvenience to either or both parties, especially when the home you wish to view is not nearby. In this case, mortgage companies, title companies, and attorneys register their offices as “open door” places for REALTORS® to meet clients. If your agent requests to meet you at one of these “open door” spaces or their office before heading out to view Raleigh area homes you wish to see, know these are becoming more commonly used safety precautions to protect both parties.

Let the Linda Craft Team Help You Achieve Your Real Estate Goals!

Are you searching for the home of your dreams in the Triangle? Let us help! We pride ourselves in our ability to serve our client’s needs, to include taking the safety precautions to protect both parties. Use these tips for buyers to help you through the process and to ensure a smooth transaction.

Ready to sell your Raleigh area real estate? Home sellers face many of the same safety risks as real estate professionals. Reduce your risk and list your home with the Linda Craft Team, as REALTORS® have more experience in this field and take measures to stay safe on the job.

The Top 5 Best Things about Living in Heritage at Wake Forest

Wake Forest’s Heritage neighborhood turns 10 years old this year. To celebrate, we are counting down the top 5 best parts of residential life in this highly desirable neighborhood.

If you’re relocating to the Wake Forest area, consider buying a home in Heritage and find out what makes life so wonderful there.

Highlights of Living in Wake Forest’s Heritage Neighborhood

As a master-planned community, Heritage is much more than a collection of attractive homes and well-groomed streetscapes. It serves as a foundation for your Wake Forest lifestyle, not to mention a friendly setting for living near your welcoming neighbors. Here are the best aspects of living in Heritage.

5.  So Much to Do Nearby

Whether you’re working or playing near Heritage, take comfort from the fact that everything is within easy reach. There are many businesses nearby that provide the option for employment close to home, along with fun places to shop and dine.

Enjoy your pick of restaurants offering casual carry-out, family dine-in, sports pub settings and upscale fine dining.

Greenway parks, a soccer complex and even neighborhood schools add to the long list of amenities that Heritage at Wake Forest offers.

4. Good Southern Living

Just close enough to the capital city of Raleigh and the opportunity-rich Triangle, yet just far enough to ensure families a generous amount of the green space, fresh air, and blue sky, Heritage was destined to succeed in Wake Forest.

Twice in its first ten years, Heritage was voted North Carolina’s Master Planned Community of the Year. The atmosphere is much like one might expect in a friendly village from days gone by, only this village is as thoroughly modern as it is diverse and attentive to lifestyles of the 21st century.

3. Everything in One Place

Gone are the days when you had to drive out of your way to buy groceries, pick up a pizza, send in your dry cleaning and take your pet for a check-up.

Heritage is conveniently located to just about everything, and it offers residents the ease of running daily errands literally down the block or just around the corner. Easily find banks, package shipping stores, schools, medial care facilities and specialty shops close to your home in Heritage.

2. Unlimited Family Fun

Heritage Wake Forest offers enough amenities to its residents to keep everyone entertained for years to come.

green golf courseWant to enjoy a round of golf? The beautifully designed Heritage Golf Club winds throughout the neighborhood. It’s a semi-private golf club with an 18-hole course, full practice facility, PGA staffed pro shop and stunning clubhouse with an array of amenities.

The Heritage Swim & Tennis Club offers even more fun. The private neighborhood club offers two neighborhood pool complexes, the Heritage Lake Pool and the Heritage View Pool, offering these fantastic features for everyone to enjoy:

  • Junior Olympic-sized pool
  • 103-foot waterslide
  • spacious sun deck
  • full-service grill
  • lazy river
  • beach entry
  • water dome
  • 2 lighted tennis courts

1. Beautiful Homes for Sale

The wide variety of home plans and architectural styles in Heritage allows you to choose a design that matches you with your dream home. But of course you don’t just get a magnificent house when you live in Heritage — you get the amenities and location to go along with it.

Discover Your Dream Home in Heritage at Wake Forest

Don’t wait another day to fulfill your heart’s desire at Heritage Wake Forest! Contact us at 919-235-0007 to schedule a showing of a home for sale in Heritage or request a tour of the neighborhood and see for yourself what life is like in Heritage at Wake Forest.

Find Your Dream Home in Raleigh’s Bedford at Falls River

sidewalk under tree in the fallAre you searching for a sense of community in a fantastic Raleigh neighborhood? Do you want access to the best amenities around?

Then consider a home in Bedford at Falls River, Raleigh’s premiere master planned community. Keep reading to discover why Raleigh residents adore this neighborhood.

Life is Good in Bedford at Falls River

Located in North Raleigh a few miles north of I-540, Bedford at Falls River is one of Raleigh’s most popular neighborhoods.

With its tree lined streets, front porches, parks, restaurants, shops and amenities, it is easy to see why so many people choose to call Bedford their home.

A Mayberry-Like Setting in North Raleigh

Driving through the subdivision you immediately realize this is not your ordinary subdivision.

Sidewalks line both sides of every road and you will see many of its residents walking through the Raleigh neighborhood, riding bikes or enjoying their front porches. Drive by one of the many parks and you will likely see families enjoying the playgrounds and picnic areas.

Stellar Amenities — Including a Giant Waterslide!

At the heart of this community is the clubhouse, pool and tennis courts. Here you will find two pools and lots of activity during the summer months.

Girl at pool splash zoneThe Olympic-size pool has separate lanes for lap swimmers and lots of room for all to enjoy. The children’s pool includes a splash zone area for young children and a giant waterslide named Mr. Gushmore. Two giant gas grills sit on each side of the pool as well and Bedford residents are welcome to bring anything they wish to grill when they visit.

The amenities also include 3 tennis courts, a sand volleyball pit, a playground and picnic area with grill. During the summer months, you can often find special events going on at the neighborhood pool including live music, movies and food trucks. There are tennis camps for kids in the summer, as well as private lessons available for all ages.

Green spaces are prevalent in Bedford at Falls River, and the Capital Area Greenway System runs through the neighborhood as well for your walking and bike riding enjoyment.

Welcoming Residents and Fun Social Activities

A thriving community lifestyle is apparent here and Bedford even has its own social director on staff. There are various social clubs meeting monthly at the clubhouse, including Toastmasters, The Bedford Wine Club and The Bedford Beer and Cigar Club (run by our very own Senior Listing Partner and Bedford resident, Steve Kruger).

All year long there are lots of community activities, including an Easter egg hunt, 4th of July parade and ice cream sundae party, haunted house and hot chocolate at the clubhouse for Halloween, father/daughter dance night, Pancakes with Santa, and more.

Everything You Want is at Bedford Shoppes

Bedford at Falls River is also home to the Bedford Shoppes, a collection of restaurants and shops designed for your enjoyment.

Here you will find a dry cleaner, Dog City Spa and North Raleigh Spa and Salon.

Café Buongiorno is where you can often find your neighbors enjoying coffe, paninis, fresh pastries and homemade Italian gelato. Right next door is Sushi Lulu, one of Raleigh’s highest rated sushi bars.

Rounding out the experience is The Bedford Bistro and Bar. Here you will find a family friendly restaurant with pizza, hamburgers, pasta dishes and more. The bar is full of flat screen TVs for enjoying the big game, and the patio is a popular spot in the evenings.

Award-Winning Life Begins in Bedford at Falls River

It’s easy to see why Bedford at Falls River is one of Raleigh’s most popular neighborhoods.

There are homes available for sale in Bedford in all price ranges and sizes. If you would like more information about the community or would like to take a tour, please give us a call at 919-235-0007 and we would love to show you all that the neighborhood has to offer.

What You Need to Know about Appraisals

The value of a home is determine by an appraisal, or is it?

Federal government guidelines and restrictions have made appraisals less reliable than in years past. Here are ten things you need to know about appraisals.

Fact #1: The Lender, Not the Home Buyer, Is the Client

Every buyer believes that since they pay for the appraisal, it is being completed for them in order to protect them from overpaying for a home.

In reality, the appraisal is more about protecting the lender than the buyer. An appraisal allows the lender to determine risk on the amount of money being borrowed in case the buyer defaults on their promise to pay.

Fact #2: Appraisals Do Not Determine True Home Value

The true home value is determined by what someone is willing to pay, which is determined by comparative shopping and individual need. An appraisal is one person’s opinion of value based on a small sampling of historical data, not real-time market conditions.

This is one of the reasons why when several different appraisers complete an appraisal on the same property you would have several different opinions of value.

Value is determined by real time supply and demand, not by homes sold from a year or more ago.

Fact #3: The Appraiser Knows the Price to Support

When appraisers go to view a home, they can only measure the square footage. They cannot look inside the home. Instead, they use computer data and photos from a private home listing database to draw comparisons between recent homes sold. This can lead to an inaccurate home valuation.

And since appraisals protect the lenders, the goal is for the appraisers to support the price paid, not assign true value to the home. The appraisers know what value to assign the home because they’ve been given a copy of the offer and purchase contract by the lender.

Fact#4: Appraisers Are Government Regulated

As of January 1st 2015, appraisals are actually entered into a computer and values are assigned by the appraiser choosing from a series of codes. Since a computer adjusts value, it also collects and saves this data entered by every appraiser.

Therefore, the computer knows if an appraiser was inconsistent with the code chosen previously. Many appraisers have told me they take a conservative approach to these adjustment codes because they are being watched closely for inconsistencies.

Fact#5: A Computer Applies a Standard to Home Differences

In years past, the appraiser could give their professional opinion on the value to be placed on differences between two homes. Perhaps the home being purchased had $20,000 in upgrades — hardwood floors, new stainless appliances, granite counter tops. The buyer loved the home with all of those upgrades and they saw the value.

Today, the computers uses a standard from homes previously sold, which as we’ve said may not be current with the actual market.

Fact#6: All Mortgage Companies Are Not Equal

If a mortgage company does not have in-house processing, underwriting, and appraisers, then you may face uncertainty and delays if an appraiser is hired from a third party.

There are only a few mortgage companies in the greater Raleigh area that have met the requirements that allow them to say yes to all three of your very important questions. We can refer you to a good mortgage company within our business network.

Fact#7: Appraisal Management Companies Have Created Controversy

Many mortgage lenders have not met the requirement to have approved appraisers, so they must use third party appraisal management companies to place an order for an appraisal.

Many times the appraiser that comes up in the “round robin” assignment rotation may be from outside the area and not know the neighborhood or builders well. When they receive the assignment if they do not know the area, they are supposed to decline the assignment. But since they make a living by completed appraisals, it’s hard to hit the decline button.

This can really cause issues for all parties involved. The truest appraisal will be from someone who really knows the market area and has a lot of experience in that area. Connect with us and we can refer you to a Raleigh area appraiser.

Fact#8 Appraisers Cannot Talk Directly with Loan Originators

However, they are allowed to consult with the Realtors to learn about upgrades or anything else that might affect home value. Realtors have often been inside of the sold and closed properties the appraiser is considering using, and they can provide valuable information about the differences.

Remember, an appraiser can’t view the inside of a closed property, but a Realtor may have viewed it when it was for sale and have added information to share. Really good appraisers will put in the extra effort to learn more about each property to be fair with the value, but some will not and they create a lot of problems for home buyers.

Fact #9: Computers Cannot Accurately Value Unique Properties

Sometimes a property is so unique or highly upgraded that there are no like properties to compare. An appraiser may feel the house is worth the contract price but, the computer has no rational thought processes to draw from. This usually results in appraised value coming in lower than the contract price.

When an appraisal comes in low the borrower can pay the difference, the contract can be terminated, the seller can offer to reduce the price, or negotiation between buyer and seller may occur. When termination occurs the seller has lost time on market and the buyer will lose money paid out for due diligence fee, inspections, title work, and the appraisal cost to name a few.

Fact #10: Your Ideal Home Is Worth More than the Appraisal

The number at the bottom of your appraisal document is for a moment in time, good for today only and highly likely wrong because it was one person’s opinion and a computer. Even an appraiser will tell you that tomorrow the number could change based on the next home that closes in a market place.

Remember, an appraisal is an opinion of value based on a small sampling of past history up to 12 to 24 months prior. A home is worth the value it brings to the buyer now, in this current market. The appraisal is also completed with a computer program with lots of restrictions and for the benefit of the lender.

shaking handsBuying a Home in Raleigh, NC?

Knowing more about the appraisal process and other aspects of buying a home can help you in the long run. If you would like to know more about aspects of buying a home in Raleigh, from searching for the right home to finding out more about appraisals, contact us at 919-235-0007 or by email at linda@lindacraft.com.