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There is a difference between Appraised Value and Fair Market Value (FMV). A professional appraisal is one opinion of what the value is based on historical data such as comps. It is typically used by lenders in order to establish what loan amount is appropriate for the property.
The FMV is determined by the opinion of many potential buyers who will place value on the property using a different method than an appraiser. For example, a potential buyer will use the proximity to their work or their kids school as a factor where an appraiser will not. Thus, the FMV will tend to be a little higher than an appraised value.
So, when trying to determine what price to list the home for sale an appraisal is usually not a great indicator of what potential buyers will be willing to pay. It is a good indicator of what a lender will be willing to lend. A realtor works with buyers and hears feedback and ultimately knows what buyers want and what they ...
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It’s already March and daylight savings is just around the corner. East County comes alive in the spring and summer. The locals come out to enjoy all the events that go on once the time has changed. The lifestyle out here in East County, thinking of La Mesa, El Cajon, and Santee, is a bit laid back compared to the hustle of the downtown, or beach areas.
For residents that have owned homes in East County for a last few years have been fortunate to see their property values go up rather dramatically compared to many other areas of San Diego County. In 2014 the average home sold for just over $275K, and today as I write this it appears home values are averaging around $485K. the city of La Mesa is also seeing a lot of attention to its Village area with several new trendy places to eat and hang out after a long day of work.
El Cajon will have their traditional car show along Main Street every Wednesday night all through spring and summer. You can check out some amazing custom ...
People ask me all the time if upgrading to a tankless water heater is a smart thing to do. After all, they are promoted as an energy saving appliance.
The average gas-powered tankless water heater can indeed save you money because they use less gas than a traditional tank water heater. They do not use any gas when you are not at home or when no hot water is in demand. A traditional tank uses gas around the clock to keep the water hot.
According to SDG&E the average home spends about $300/year to heat water. A gas tankless water heater can reduce gas usage by about 23%, or $70 - $80 per year.
The cost of a good tankless water heater can be $1,100 - $2,500 installed. Sometimes more. Installation can require a new flue, rerouting water pipes (if you relocate the unit to the exterior), and possibly running a new gas line. Since tankless water heaters demand a lot of gas to heat water quickly, you may need to increase the gas pipe from 1/2" to 3/4". Finally, tankless wate ...
Many current and potential San Diego residents use our website SDLookup.com, to search for properties, find out what their home is worth, or to simply get information about the San Diego real estate market. We are usually contacted to discuss properties and or their real estate goals. Toward the end of last year we began to notice several common themes, so we thought it would be helpful to share some of these.
"We want to list our home for sale, but we “scared” because we don't see anything on the market that we like” This is very common right now. There are many homeowners who have equity and want to upgrade to larger homes, but are afraid to put their home up for sale because they don't see anything to upgrade into.
"We want to buy, but we became frustrated and gave up looking because there is nothing available" This is a common scenario right now and has to do with the large numbe ...
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