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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 |
What real estate board game became the best-selling game in America just one year after it was created?
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| A |
Charles B. Darrow invented Monopoly in 1934, to cheer himself up while unemployed during the Great Depression. Monopoly is now the most popular board game in the world and has sold over 200 million copies. |
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Lisa Bender
RSVP Real Estate
2018 156th Ave NE
Bellvue, WA 98007
Phone: 425-770-4438
Fax: 866-834-8159
Email: agent99lb@gmail.com
Lisa Bender has been a multi-million dollar producer in real estate for
years. A Western Washington native, Lisa's testimonials speak for themselves:
"Lisa's continued efforts and dedication were essential to selling our
home."-Jeff and Eileen B "I know we wouldn't be here [in our dream home] today without Lisa's "go-to" attitude and all with a smile! Lisa takes the pain out of it all." Kat and Dewey M. She's a "professional Realtor" with "excellent communication" and "diligence in pursuing and closing the deal." Tim K.
Whether you are a first time buyer or this is the 5th house
you've sold- Lisa is committed to helping you achieve your real estate
goals.  
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