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"Lisa is OUR agent"
Dear Lisa, I want to thank you once again for assisting us on the sale of our home. You truly made this potentially stressful experience one that was very relaxed, and rewarding. The personal service you provided, during the sale was fabulous. You were always available to us 24/7 and educated us to become confident in our decisions. Even after the transaction was complete Lisa kept in contact with us on a personal level. Lisa really does care about her clients and that shows. As long as Lisa is in real estate she will always get our business- that’s for sure.
John and Anna
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About Appraisals >Three Caballeros
When you buy a house or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser will look for "three caballeros" or three "comparables" -- homes that are very similar to the one you are buying -- and will make adjustments to reflect the differences between the properties.
Housing patterns tend to be homogenous, meaning that homes worth $300,000 are usually located in $300,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price.
This is not the only factor considered in determining the worth of a property, but it is an important one. The buyer or seller may view the property as a home or an investment, but lenders view it in a completely different way. To a lender, property means security in the event a borrower fails to repay a mortgage. Therefore, lenders must know real estate values in order to limit their risks.
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| Q |
During what great land boom (1919) did investors pay up to $25,000 for lots that had not yet been dredged up from the ocean?
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| A |
The Florida Land Boom--Carl Fisher founded Miami Beach that year and brought hundreds of investors to the state. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERTS™ 
