Avatar's Blog
» Property Values - Not Appraised Values
I write more about property values and valueing your property for the purpose of getting a hard money loan than any other subject. Property values are the most difficult concept for borrowers to grasp, mostly because they would rather not grasp the reality of things. The simple truth is this:
Appraisals provide a value for property that is generally more than the property will really sell for. The selling price of property is called by several names - street value, today's value, quick-sale value, etc. All mean the same thing - it is the price the property will change hands for between willing parties today. Appraisals generally take into account a waiting time in which the seller is able to wait for the 'right buyer' who wants the property to pay a higher price.
