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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 the role of the U.S. Housing Authority?
A	Created in 1937 by FDR, the U.S. Housing Authority provides construction loans to small communities and states.
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Team of Giordano and Giordano, REALTOR®, real estate agents and broker for Litchfield Park, Avondale and Goodyear Arizona home listings, property and land for sale - NUMBER1EXPERT(tm)

The Giordano Team
Keller Williams Realty Professional Partners
1626 N Litchfield Road #110
Goodyear, AZ 85395
Office: 623-337-8898
Toll Free: 877-901-7053
Fax: 623-298-3257
info@azfinesthomes.com
The Team of Giordano & Giordano. Our team leader holds the CRS Designation as well as Luxury Home Specialist Disignation. We were inducted into the Hall of Fame for RE/MAX in 2000, were one of the top 10 teams in southwest region of RE/MAX in 2001 through 2007 and joined the Platinum Club for 2000-2007. Phyllis Giordano recieved the Re/Max Lifetime Achievement award in 2007.

Our team has over 50 years of combined experience in Real Estate. The Giordano Team and our staff are Career Realtors and over the last 18 years we have helped 100's of families relocate to the Metro Phoenix Area.

Moving is stressful and we strive to make real estate a simple and easy transition. If you buy or sell with us you may use our moving truck for free (in-state moves only). We want to be "Your Realtors for Life".

AZFinestHomes.com is brought to you by Team of Giordano and Giordano
NUMBER1EXPERTS™ in real estate for Litchfield Park, Avondale and Goodyear, Arizona, Golf Communities, Military Transfer

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