Colorado’s real estate market is one of the hottest in the country. Over the past decade, thousands of Americans have set their sights west to the Front Range. The population explosion lead to high home prices, low inventory, and several questions about how the real estate market works.
One of the most common question for buyers and sellers is “How do Home Appraisers Determine the Value of a Home?” – especially in a hot market like Colorado. Let’s learn more about home appraisals and how professionals make the call.
Appraisals don’t have an expiration period but the closer to the home sale the better. Most lenders and buyers won’t accept a home appraisal that’s more than six months old. Some government-backed mortgages may toss an appraisal in as little as three months.
A professional home appraisal will be required for any financed home purchase. A home valuation by a real estate professional evaluates your home before putting it on the market for buyers. Many factors go into a home appraisal and many ways to quickly jump your value before selling in the hot Colorado market. If you’re ready to get your home on the market, talk to a The Meissner Group for a professioinal home valuation today.