Buying Your First Home? Real Estate Agents Are Your Professional Guides. Make Sure You Choose someone you trust. You might be a bit afraid or intimidated by the whole process of buying your first home. As real estate experts, it's our job to guide you, from beginning to end. We will take the time to go through each and every step of the buying process. There are no dumb questions! Together, we will consider: - How to qualify for a mortgage. - How much can you really afford.
- What are you comfortable paying. - How much cash you should put down. - How to buy a home with little or nothing down. - What it takes to get approved for financing. What banks and other financial institutions are looking for. - How much your payments will be. - The tax advantages of buying. - Is renting or buying better for you? Want to know more? Send us an email. We'll point you in the right direction. No strings attached. New to the home buying process? Tell us your concerns. Ask us questions. It's our job to help! There's no obligation, and we promise to get back to you quickly... 
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About Appraisals >Fair Market Value
What is the best price for a piece of real estate? Mortgage lenders, appraisers, and real estate brokers use what is called the "fair market value" (FMV). FMV has been defined as "the price that a buyer is willing to pay and the seller is willing to accept, when both parties are knowledgeable about the property and neither is under any time pressure to buy or sell". Sounds great, but how is this price determined?
The starting point for determining a fair price may be an opinion of the value or "comparative market analysis". Such an analysis uses information on similar properties which are: 1) currently for sale, 2) already sold, or 3) expired properties (those which did not sell). Local, national and international trends and market conditions must also be evaluated.
By comparing similar properties in each of the three categories and the market conditions, appraisers, lenders and agents come very close to the maximum price that buyers would be willing to pay for a house.
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| Q |
How did actress Jayne Mansfield decorate her Hollywood "Pink Palace" without buying any furniture?
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| A |
She wrote to furniture suppliers asking for free samples, telling them they could brag that their furniture was in her outrageous mansion. She received over $150,000 worth of free merchandise. |
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