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School Reports in Boston, Brookline and Newton, Massachusetts
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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 are considered the ideal conditions for a buyer's market?

A 
In a buyer's market, there are more houses for sale than buyers, homes take longer to sell, and sellers may have to cut prices.
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Ward Shifman, REALTOR®, real estate agent and broker for Boston, Brookline and Newton Massachusetts home listings, property and land for sale - NUMBER1EXPERT(tm)

Ward Shifman

10 Langley Road
Newton Centre, MA. 02459
Phone: 617-633-7703
Fax: 617-762-4067
Email: wardshifman@NUMBER1EXPERT.com

"Ward's refined style and performance in our behalf has completely revised my impression of the realty profession." Feedback such as this from Ward's clients is evidence of his strong customer care, effective listening and communication, as well as effective marketing strategies. Ward was the first agent to join William Raveis in Massachusetts, and is a consistent top producer both with-in the company and amongst all Massachusetts brokers. Ward services the Boston, Brookline, and Newton areas, along with Cambridge, Wellesley, the North Shore, South Shore, and many other neighborhoods. Ward's expertise is not just in sales, but in every aspect of real estate--this unique service will help you make the connections towards accomplishing your real estate goals.

Equal Housing MLS REALTOR


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