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Follow on Google News | Dennis Mahafkey Stresses Importance of Getting a Home AppraisalDennis Mahafkey from Keller Realty in Alexandria, Virginia accentuates the need for online home appraisals to all potential clients pondering selling their homes.
By: Dennis Mahafkey & Your Find Homes Team This information is not just from Dennis Mahafkey’s experiences, as new research backs up these facts. Quicken Loans uses two different indexes, the HPPI and HVI, to exhibit the differences between home seller's perceptions of his home’s value and the appraiser's evaluations of the home’s value. The information discovered by Quicken shows that during 2008 to 2009 when the housing market declined, home sellers overestimated the value of their homes at an alarming rate. This kept them from being approved for refinancing at times back then. However, the trend shows today that some home sellers are underestimating the values of their homes including those in the Washington, D.C. and Alexandria, VA areas. The November 2014 HVI statistics show the national appraiser value was +1.56% compared to the homeowner perception of value. In the list of metropolitan areas, Washington, D.C. is the nearest statistic to Alexandria, VA. The appraiser value in November 2014 in Washington, D.C. was +1.77% compared to the homeowner perception of value. This figures out to be $3,500 on a $200,000 house. However, as the value of the house increases so does the difference. Alexandria and nationwide home sellers and homebuyers alike will benefit from a professional home appraisal. They will be able to sell and buy smarter by understanding the true value of their present or future home. In working with a realtor, you will find that appraisals are an effective first step in understanding the true value of a home. “Alexandria, VA real estate sellers who are overly optimistic on what their home's value may want to list the price too high and cripple the selling process. However, other home sellers may underestimate the value of their homes, which cheats them out of thousands of dollars of profits.”, states Dennis Mahafkey from Keller Realty & Your Find Homes Team. Dennis goes on to say, “Home sellers can avoid these issues by receiving an appraisal before they set a sales price for their homes." About Dennis Mahafkey and Keller Williams & Your Find Homes Team Dennis Mahafkey has 31+ years of experience in the real estate business. This means that Keller Williams & Your Find Homes Team offers professional guidance to real estate clients in the Alexandria, Virginia area. It is the company’s commitment to ensure fair dealings with each transaction. This company provides all clients with award-winning service in all areas of real estate transactions. End
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