Real Estate Blogs Of The Carolina's

When a home appraises for less than the sales contract price, it can create challenges for both buyers and sellers. However, there are several options available to move forward with the transaction. One of the most common solutions is to renegotiate the sales price based on the appraisal results. In this scenario, the seller may agree to lower the price to match the appraised value, allowing the deal to proceed without requiring additional funds from the buyer. Alternatively, both parties could meet in the middle by agreeing to split the difference between the appraised value and the contract price. For example, if there's a $20,000 gap, each party could cover $10,000. If the seller is unwilling to reduce the price, the buyer has options to make up the difference. One approach is for the buyer to bring additional funds to closing to cover the gap between the appraised value and the contract price. This would increase their down payment but allow the sale to proceed a...

Homeownership has long been considered one of the most effective ways to build wealth, and for good reason. According to data from the Federal Reserve Economic Data (FRED), homes have appreciated at an average rate of 5.56% over the past 60 years, consistently outpacing inflation, which has averaged 3.7% over the same period. This significant difference is one of the key reasons owning a home is a powerful wealth-building tool. When combined with mortgage amortization, homeownership not only increases your net worth over time but also provides the added benefit of an asset that you can live in and enjoy with your family and friends. Real Estate's Proven Track Record of Appreciation One of the most compelling aspects of real estate is its historical trend of appreciation. As noted, homes have appreciated at an average rate of 5.56% over the past six decades. This means that even in the face of economic downturns or short-term market volatility, real estate generally ...