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The Marc Fox Group ranks in the top 1% nationally, with nearly $100 million in sales volume over the last six years.503-484-5010

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  • Why Sellers Choose The Marc Fox Group - Why home sellers in Portland, Beaverton, Tigard and Sherwood choose The Marc Fox Group.

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Real Estate Tips
About Appraisals >Working With Appraisers

After the buyer and seller come to a "meeting of the minds" on the price of a house, there is one more person who must be convinced that the house is worth the selling price--the mortgage company's appraiser.

The appraiser looks for three similar houses that have sold in the same area within the last several months, and compares the selling prices of these homes with the one that is now on the market. The appraiser makes adjustments to account for the differences in each property, and averages the adjusted prices of the other three homes to arrive at a final opinion of value. In subdivisions or condominium projects where there are many similar properties and numerous recent sales, the appraiser's job is relatively easy. In neighborhoods of older homes that have been renovated or remodeled over the years, it can be like comparing apples and oranges.

If the appraiser's evaluation is lower than the selling price, it can stall the transaction because the lender may decline the buyer's loan because of the discrepancy. A real estate agent can work to minimize potential delays associated with the appraisal process by helping the seller to price the home as close to fair market value as possible.

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Real Estate Trivia
Q 
What is the longest construction time for a private residence?

A 
The Winchester House in San Jose, CA, was under construction for over 38 years.
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The Marc Fox Group, REALTORŪ, real estate agent and broker for Portland, Beaverton, Tigard and Sherwood, Oregon home listings, property and land for sale

The Marc Fox Group
Keller Williams

17700 SW Boones Ferry Rd.
Portland, OR 97224
503-484-5010
503-915-7475
Fax: 503-336-7170
marcfox@NUMBER1EXPERT.com

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