Home Appraisal and Mortgage Tips
b'with Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
When it\\u2019s time to sell, how do you price your home? Well, you, your broker and a professional appraiser typically jump in with estimates on what your home is currently worth. While in the past, estimates could vary widely, data from a November 2014 report shows that the gap has narrowed - so that\\u2019s good news. But rising or falling home prices also need to be factored into the estimate, which makes things tricky sometimes.
But while appraisal gaps have narrowed, home buyers continue to lie significantly on their mortgage applications \\u2013 with Florida ranked #1 for mortgage fraud followed by Nevada, New Jersey, Arizona and Illinois. But it doesn\\u2019t pay to cheat, so see how you can improve your mortgage approval chances by staying honest.'