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Recent Blog Posts

Wednesday, May 25, 2016

Inexpensive Ways to Stage Your Home Like a Pro

Inexpensive Ways to Stage Your Home Like a Pro Whether the home you are selling in Louisville, KY is worth $100,000 or $1,000,000, if the property does not make a good first impression it will probably sit on the market for months while hordes of ...  Read More

Tuesday, May 17, 2016

CAN I GET A MORTGAGE AFTER BANKRUPTCY?

CAN I GET A MORTGAGE AFTER BANKRUPTCY? Looking to buy a house in Louisville, KY, but worried about finding a mortgage because of a bankruptcy? Bankruptcy is more common now and banks will consider making loans within two or three years after the ...  Read More

Wednesday, May 11, 2016

Louisville Area Home Sales Up in 2016

The Greater Louisville Association of Realtors® (GLAR) reported that in March 2016 sales were up 14% with 1,346 homes and condos sold versus 1,180 last March. "The sellers' market is continuing in Louisville with inventory down in some ...  Read More

Thursday, May 05, 2016

CAN I GET A MORTGAGE WITH BAD CREDIT?

CAN I GET A MORTGAGE WITH BAD CREDIT? If you have bad credit and want to obtain a mortgage to buy a new home, you may feel as though it's impossible since lenders tightened their eligibility rules. There are plenty of so-called “options” ...  Read More


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having your Louisville real estate appraised

When you shop for a new Louisville home, the most fundamental question you have to ask yourself is how much that property is worth. Paying more than the market price of the home can put you behind the eight ball from the start, making it that much harder to build up equity and value in your house. Unfortunately, some Louisville home buyers simply rely on the PVA assessed value, and that valuation may or may not fully reflect the current real estate market.

The Louisville Real Estate market can change rapidly, and an imbalance between buyers and sellers can send prices plummeting, or soaring. Getting an independent appraisal is the best way to ensure you pay a fair price for the property you are considering. The cost of that independent appraisal is tiny compared to the purchase price of the home, and the results could potentially save you thousands of dollars.

There are other reasons to get an independent real estate appraisal done, even after you own your Home in Louisville. Many people think that appraisals are just to protect buyers and sellers, but there are a number of other reasons why a homeowner would want to know the current value of his or her house.

Getting Rid of PMI

One of the most potentially lucrative reasons to have an independent appraisal done is to remove PMI from your monthly mortgage payment. Banks charge private mortgage insurance when homeowners have less than a 20 percent equity stake in their homes. When your equity rises above that critical level, you can eliminate PMI and potentially save yourself hundreds of dollars a month. If you suspect that you are now over the 20 percent equity stake required to drop PMI, having an independent appraisal done on your Louisville home can confirm your suspicions and allow you to get rid of that costly insurance. 

Challenging a Property Tax Assessment

Your Louisville property taxes could rise sharply when your county does its periodic real estate value assessments. If you disagree with the results of that assessment, you can use an independent appraisal to fight the tax rate on your Louisville real estate. Without an independent appraisal, it is your word against that of the taxing authority. A quality appraisal gives you something to go on and allows you to make your case more effectively.

Estate Planning

The family home often makes up a significant portion of an estate, and an independent appraisal can make estate planning easier. If you are making your will, it is a good idea to have an independent appraisal done at the same time. That way you know exactly what each of your assets, including your Louisville home, are worth.

All of these are excellent reasons to have an independent appraisal done on the home you own, or the one you hope to buy. Knowing how much your Louisville home is worth is the basis of all sound real estate investment, and determining that value starts with a quality appraisal by an independent third party.

The Brad Long Real Estate Group can help you find a qualified appraiser that can give you an expert opinion of what your Louisville Real Estate is worth.