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Answers (3)
- IPL Mortgage
- Contributions:41
The appraisal will need to include closed sales within the last 90 days. With property values continuing to drop, I wouldn't wait too long.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Helen,
On average, CA real estate is currently devalued about 2% per month. Your appraisal will be calculated on similar properties closely situated to your home. Banks are now requesting up to 4 Most Recent Sales and 4 Most Recent MLS Listings for determining your property's value. The sooner you act, the better chance you have of receiving a great rate before you exceed loan to value guidelines. .... Best wishes, Rudi
On average, CA real estate is currently devalued about 2% per month. Your appraisal will be calculated on similar properties closely situated to your home. Banks are now requesting up to 4 Most Recent Sales and 4 Most Recent MLS Listings for determining your property's value. The sooner you act, the better chance you have of receiving a great rate before you exceed loan to value guidelines. .... Best wishes, Rudi
- Mayra Alvidrez, "Mayra A Alvidrez"
- Contributions:65
if your are planning in refinance I advise you to do it as soon as possible because the appraisal is going to be based on all the short sales an REO that aare comparable to yours that have to sold in the last 3 months and if value keep drop then if you wait you might end up upside down
How do I refinance when home values keep going down? How will the appraisal be based on?
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