california real estate blogA residential property appraisal helps establish a home’s market value, or the likely sales price that the property would fetch if offered in a competitive real estate market. Whenever someone uses a home or other type of real estate as security for a loan, the lender will order an appraisal to be conducted by a licensed appraisal professional. This step is critical from the lender’s prospective because it reflects the likelihood the property will sell for at least the amount of their investment on it.

It’s also important for you, the  buyer or seller…

If on the buying side, it shows you in black and white that the price you’re paying is indeed in line with what the banks consider a fair market value; if on the selling side, it shows you how much you can realistically ask for your house.

The appraised value should not be confused with the asking price, offer price, or sales price. Asking price is what a seller indicates as a fair and reasonable offer for his/her home. A seller is free to set whatever asking price he/she chooses. An offer price on the other hand, is a number that the buyer feels he/she is willing to pay. This may be an accurate reflection of the true market value of a home or an attempt by the buyer to purchase the property at a considerable discount. The sales price is what the buyer and seller actually agree upon through negotiations; it generally lies somewhere  between the asking price and the offer price.

Appraisers are licensed by their respective states after completing course work and/or a job internship that helps them become familiar with their local real estate markets. The appraisal process itself begins with a thorough inspection of the property being appraised to determine the true status of the property. The appraiser will look at features like number of bedrooms and bathrooms to ensure that they really exist and are in good condition.  Most important, the appraisal looks for any obvious features-or defects-that would affect the value of the house.

  • sacramento home buyersBuild your budget before you start looking- figure out what you want to pay each month plus the down payment.
  • Get your mortgage loan in order.
  • Know what your minimum requirements are when house shopping.
  • Determine your desired location.
  • Compare houses similar to the ones you’re looking at in order to make the right offer.
  • Become familiar with the home inspection process.
  • Ask plenty of questions and don’t be afraid to do some research.

Little after1Kingsley Development Group, Inc. has just listed their newest finished rehab! 103 Little Court. is a four bed, three bath home with 2650 square feet. This home is located in Folsolm, CA and has been completely remodeled.  This is a beautiful home in American River Canyon. Full in-law quarters downstairs, Huge landscaped yard with RV Access, located on a culdesac, Master suite with sitting area and balcony, Tile Roof, 2 fireplaces.. You can unwind in your new master suite or your new spacious family room.  This house is sure to go fast so make sure you check it out before it is SOLD!!

after front[1]Kingsley Development Group, Inc. has just sold their newest finished rehab! 4900 Topaz is a three bed, two bath with 1,592 square feet. This home is located in Rocklin, CA and has been completely remodeled. The kitchen includes granite counter tops, granite backsplash, stainless steel appliances, and full size white cabinets. The bathrooms have all been updated with new plumbing fixtures, new tile floors and tile walls in the shower, granite sink countertops, and modern lighting. The entire house comes equipped with new hardwood floors, new carpets in the bedrooms, and modern lighting throughout. This cozy home has many spacious rooms, great for comfort and entertaining. Not to mention; the beautifully landscaped front and back yard, complete with a pool to cool down with during those hot summer nights.

01Another gorgeous rehab completed by Kingsley Development Group, Inc. This beautiful 3 bed,2 bath located in Carmichael , CA offers a warm open living space with magnificent hardwood floors, a beautifully remodeled kitchen, and a spacious backyard perfect for summer barbecues or hosting outdoor parties!