Krishna – How To Handle An Appraisal Gap
First – what is an appraisal gap? Quite simply, it’s the difference between “the fair market value determined by an appraiser and the amount you agreed to pay for the home.” It doesn’t mean that you have to cancel the sale, but it does mean some negotiations will probably be happening And, an appraisal gap becomes an issue if the seller is not willing to lower the price or the buyer is not willing to pay the difference in cash.
Krishna Chinnam, Real Estate & Life Insurance Agent
Krishna Listing 8509 157th St – 539500
Krishna Realtor welcomes you to this immaculate north-facing home nestled in the prestigious Blue Valley School District, where the best schools await your family! Fresh paint and new carpets seamlessly blend with an open floor plan, featuring gleaming hardwood floors and a granite kitchen island perfect for entertaining. Enjoy the convenience of a new microwave, a walk-out basement complete with a full-size bath, and the comfort of 4 bedrooms and 4.5 bathrooms. This home’s 3-car garage offers ample space for your vehicles and hobbies, while the sprinkler system and radon mitigation ensure peace of mind for a healthy and well-maintained property. Don’t miss this exceptional opportunity to elevate your lifestyle in a desirable community!
Listing Provided by: Krishna Chinnam 601-301-3579 Platinum Realty
Krishna Asks: Ready To Go Shopping Mortgage Rates?
Want to go shopping? Have you ever thought about shopping for a lower mortgage rate? If not, you may want to consider it.
If you decide to go shopping for a lower mortgage rate, one thing you do need to consider is that not all lenders share the same business practices. Some of them may lure unsuspecting borrowers to a rate, knowing completely that they cannot deliver on it. Once a loan application is made and information necessary is supplied for approval, they reveal that the rate is not available for “whatever” reason.
Krishna Realtor – Beautiful Home For Sale – 15104 Reeds St OP KS
Realtor Krishna introduces a stunning east-facing, 1.5 story home in the highly coveted Blue Valley school district! This upgraded, modern gem boasts 4 spacious bedrooms, 2.5 luxurious baths, and a 2-car garage. Bathed in natural light, the freshly painted interiors accentuate the home’s warmth and elegance. The finished walk-up basement offers a versatile space for entertainment, while the ample built-in storage ensures a clutter-free living experience. Enjoy peace of mind with the newer water heater and savor outdoor relaxation on the charming wooden deck. Don’t miss this rare opportunity to secure a dream home in an award-winning community!
Krishna – The Good And The Bad Of Selling Your Home As-Is
Selling your home involves many decisions – some easier than others. Sometimes, those decisions can cause an owner stress or procrastination. Early in the process, the owner will have that opportunity to decide whether to sell their home “as-is” which avoids the issues that tend to loom when selling a home.
But, is “as-is” a good idea? From a seller’s standpoint, “as is” means the buyer will purchase the home in its current condition without asking for any repairs. This is of course convenient for the seller, but he normal trade out is the property will not result in the highest possible sales price.
New Perspectives On Today’s Housing Market
There wasn’t anything at all “normal” about the housing market in 2021 and in part of 2022. Mortgage rates were at an all-time low, and there’s a great possibility we will never reach those levels again! Double-digit appreciation drove prices to new heights. Low inventories fueled by high buyer demand made multiple offers a normal expectation.
It Might Not Be A Good Decision To Wait For Mortgage Rates To Come Down
Sometimes, you want to wait for something to come down – a fever, a price on a video game system, etc. However, it might not be a good decision to wait until mortgage rates come down. Here’s the reason.
If you’re decision to wait is correct, and the rates do come down by two percent, the savings you benefit from a lower rate will most likely be devoured by the appreciated price increase.
Some Info On Backup Offers – Krishna Realty
Real estate isn’t the only profession where there are tools and techniques available to help with particular situations. Really, any profession has those tools and techniques. For real estate professionals, one of those is the backup offer.
Monopoly Is Very Similar To Investing In Real Real Estate
I’m sure you’ve probably played Monopoly at some point in your life. During this game, you’ll purchase and develop properties (developing them by placing houses and then hotels on them), and sometimes you may even sell them. As you go along in the game, and when many of the properties have been purchased and developed, the rent you owe when you land on a property space can be quite high.
The New Normal Mortgage Rates – Krishna A Real Estate Agent
Homebuyers in 2022 experienced a huge shock – soaring mortgage rates which doubled in one year resulting in approximately 15 million mortgage ready buyers displaced from the market due to affordability issues.
As of February 23, 2023, the 30-year fixed rate mortgage was at 6.5%. While that is twice as high as it was on January 6, 2022, it is still lower than the 7.75% average rate since April 2, 1971, according to the Freddie Mac Primary Mortgage Market Survey.
When rates increase at a rapid pace like this, it takes time for the public to adjust and begin to accept it as the new normal.
Krishna Answers – When Should You Lock Mortgage Rate?
Market conditions are a big reason as to why you should lock your interest rate. Quite simple – locking that interest rate will protect you from increases due to market conditions. If you lock your interest rate early, it can safeguard your budgeted payment. Here’s how it works – if you lock the rate, and the market goes up, you still get the lower rate. If the market goes down after the lock, you might be able to pay a fee allowing you to lower the rate.
8 Reasons You Should Seriously Consider Listing Your House in February 2023
If you’ve been thinking about selling soon, you’re probably leaning toward doing so when the spring market rolls around, since it’s often considered the best time of year to sell a house. However, you might want to reconsider what constitutes the “best” time for you to sell your house.
It’s hard to qualify any specific time of year as the best time to sell, but spring probably gets ranked highest more so because it’s when more people tend to list their homes, and more buyers tend to look for a home. But that doesn’t mean it’s the most strategic time to sell yours.
Real Estate & Life Insurance Agent
Ph: +1 (601) 301-3579 / (248) 550-9104
Ph: (913) 227-0798
9393 W 110th St Ste 170, Overland Park, KS 66210.
Buydowns are Better in this Market? Krishna musings
Things have definitely changed in the past year. If you’re a prospective homebuyer, you have absolutely seen those changes firsthand. Most notably, mortgage rates have more than doubled which has created an affordability gap that has taken approximately 15 million buyers out of the market.
Many buyers are wondering if and when the market will return to normal – which makes it seem as if mortgage rates at three or four percent should be commonplace.The average mortgage rate between April 1971 and November 2022 is 7.76%.
Look for my other article: 8 Reasons you should seriously consider Listing Your House in February 2023
High Inflation – Don’t Let It Discourage You From Buying A Home – Krishna Chinnam
Your home is a tangible asset, which consistently becomes more valuable over time. During times where inflation is significantly high, a home is a good investment and is a hedge against inflation. Why? The interest earned in savings is almost always less than inflation.
Krishna Realtor: Some facts on Credit Scores
You’ve probably heard the term “credit score” before – especially if you’ve purchased a car, applied for a mortgage, etc. But, what exactly is a credit score?
Thinking of downsizing? – Krishna Chinnam
I can provide Insider Information on Johnson County homes for sale. Get you a FREE Market Snapshot Report of Your Home’s Value, or Search All area Homes For Sale. Put that data you need at the tips of your fingers!
Some homeowners decide to downsize – normally in their 60’s and 70’s – to smaller homes for reasons such as convenience, less maintenance, a change of lifestyle or even to just save money. Those homeowners are more likely to have large equities and don’t normally feel the same constraints as younger homeowners, including the substantial increase in mortgage rates in the past year.
KCdesi Wishes everyone a Very Happy Dussehara
KCdesi Wishes everyone a Very Happy Dussehara!
Mortgage rates have dropped
Mortgage rates have continued to drop in response to recent and unfortunate global unrest. Furthermore, given the continued belief that the Federal Reserve will instill its first rate hike of 2022 as early as mid-March, experts recognize a short-term opportunity for homeowners and buyers to obtain a lower interest rate during this time.
Please reach me @ 601-301-3579
Real Estate Agent