Where the questions come together for our REMAX Relocation clients to and from the Santa Clarita valley cities. You have found the place to be in the SCV real estate world.
Today we discussed the differences between market value and appraised value. They are similar – and in some markets the buyers of the world don’t mind paying market value for real estate because it is increasing in value hand over fist.
However, to leverage those kind of properties buyers need to be savvy and have the most experienced guidance as it relates to their Realtor of choice.
Not for the faint of heart – paying more than a property is appraised for is something that became popular in the years of 2004 through the first part of 2007.
In recent history we have seen the decline of the real estate market and although Fair Market Value(FMV) may have been indicating a certain level – the appraisers were devaluating properties and establishing their values at well under the FMV.
When an appraisal comes in lower than the FMV or list price, the seller has options. If the home is being sold as a standard sale – or equity type sale – the seller can reduce the price to the appraised amount. The seller can also reject the appraisal and have their agent convey to the buyer, if they don’t step up to what amount the seller wants – the deal’s off.
When the property in question is a foreclosure or bank owned property, the banks usually do the adjustment that would bring the property to appraised value.
Concerning short sale properties, the bank that owns the note or notes typically does the same type of adjustment, bringing the property (short sale) in question to appraised value.
For each of these processes you are going to want to be working with a local Expert in the field of real estate. You also need a game plan going in before you view home number one. That is why it is so necessary to have a Real Estate briefing in our offices. Be Safe and let us know when you are ready.
Here are the top two relocation properties in Castaic CA, each with 4 bedrooms and currently active on the Santa Clarita multiple listing service. We are constantly doing recon for our buyers and those seeking to be relocated to the Santa Clarita valley cities. Let us know when we can help you!
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