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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 is currently the most technologically advanced way to vacuum your home?
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The self-propelling Dyson DC06 scans and maps a room with sensors and is controlled by built-in computers that prevent it from falling downstairs. |
 See More Real Estate Trivia > |
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Tami Rapaport's Team
Coldwell Banker Residential Brokerage
130 Dean Drive
Tenafly, NJ. 07670
Direct Line: 201-227-2045
Cell: 201–665-5558
201-567-7788 ext. 127
Fax: 201-567-3220
Email: Tami@TamiRapaport.com
Tami Rapaport, a President's Premier Agent with Coldwell Banker
(top 1% of the highest sales within the company internationally) has been
ranked #5 in 2009 out of 3,800 Coldwell Banker agents throughout the entire
state of New Jersey.... Tami is the only Realtor in Tenafly to achieve Eastern
Bergen Board’s Platinum Level Circle of Excellence Award 8 years in
a row (2002 – 2009) Additionally, Tami Rapaport has been named the Tenafly
office Salesperson of the Year for 2008.........an honor she has
received consistently for the past 9 years.
"Tami's level of
commitment is incomparable. The honors she continues to earn are a reflection
of her dedication. She knows the market, she listens to her clients and she
delivers as they have come to expect her to." Karen Murphy, Coldwell
Banker, Tenafly Manager
“To produce so impressively in a
changing and always competitive market is a testament to your ability in
business and your effectiveness at encouraging trust and enthusiasm among
customers. You are a credit to our profession, a prime resource for your
clients and a valued member of the NRT family. I thank you for your effort and
wish you all the best in future success.” Bruce Ziph, President and
CEO, NRT Inc.
“Thank You for following through on all the
details throughout the closing! We really appreciate your hard work in getting
this deal done!” David Kevorkian, Seller of a Tenafly
home
“Thank you for all your efficient services. I appreciate
you!” Ann Davis, Landlord of rental home in Haworth
Look for
weekly update of homes sold in different towns throughout Bergen County.
Join our mailing list and you we will sent you a free list of sold homes. Go to
www.SoldHomesReport.com    
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NUMBER1EXPERT®
© Best Image Marketing and/or its clients.
All rights reserved. All information deemed reliable but not guaranteed.
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