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All agents are NOT alike! Find out why I am a top real estate expert. Call me: 717-581-4737.

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Real Estate Tips
About Appraisals >Working With Appraisers

After the buyer and seller come to a "meeting of the minds" on the price of a house, there is one more person who must be convinced that the house is worth the selling price--the mortgage company's appraiser.

The appraiser looks for three similar houses that have sold in the same area within the last several months, and compares the selling prices of these homes with the one that is now on the market. The appraiser makes adjustments to account for the differences in each property, and averages the adjusted prices of the other three homes to arrive at a final opinion of value. In subdivisions or condominium projects where there are many similar properties and numerous recent sales, the appraiser's job is relatively easy. In neighborhoods of older homes that have been renovated or remodeled over the years, it can be like comparing apples and oranges.

If the appraiser's evaluation is lower than the selling price, it can stall the transaction because the lender may decline the buyer's loan because of the discrepancy. A real estate agent can work to minimize potential delays associated with the appraisal process by helping the seller to price the home as close to fair market value as possible.

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Real Estate Trivia
Q 
What makes the structure of the Hoover Dam unusual?

A 
The Hoover Dam was built to last 2,000 years, and is constructed of concrete that will not be fully cured for another 500 years.
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Jeff Peters, REALTOR®, real estate agent and broker for Hempfield, Manheim Township and Lancaster, Pennsylvania home listings, property and land for sale - NUMBER1EXPERT(tm)

Jeff Peters
RE/MAX Associates of Lancaster

570 Lausch Lane, Suite 100
Lancaster, PA 17601
717-581-4737
Fax: 717-560-7728
jeffpeters1@NUMBER1EXPERT.com

As a life long resident of Lancaster, I have a deep knowledge of the different communities within the county. Working with new home sales and corporate relocation for over 10 years, I have been successful in finding homes for Hundreds of Families. Representing both buyers and sellers, I strive to exceed all my client and customer's expectations.


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