Should I include Appraisal Gap Coverage in my offer?
If you are trying to buy a house in the Dayton, Ohio area maybe you've heard the term Appraisal Guarantee or Appraisal Gap Coverage. I've been a Realtor for 28 years but I'd never heard of it until we hit this hot market in the Kettering, Beavercreek, Bellbrook and surrounding areas. We often see multiple offers on a single property. Going over asking price has certainly been a popular tactic lately to try to win the property. Problem is it has become so popular it often takes more than that to prevail in a bidding war.Sometimes you need an even bigger advantage. One thing the seller gets worried about when the price goes over asking is if the property will appraise or not. If it does not appraise for at least the contract price then everything stops. Either the seller comes down to meet the appraised value, the buyer throws in some extra money or a combination of the two.Offering Appraisal Gap Coverage might be the answer to put the seller's mind at ease and make your offer get picked. This means that if the property does not appraise for the contract price the buyer will make up the difference with cash! That can be big ask especially if you are already stretched a bit just coming up with the down payment and closing costs. Not everyone can do this. Not everyone that can do is willing to do it. Just know it is an option and I can explain in more detail the ins and outs of it. Happy to share other best Realtor practices with you as well.
What is a Water Driven Back Up Sump Pump?
Today we're going to take a look at a back up sump pump that gets its power from a water source. You need your sump pump the most during a storm when your sump pit gets the most water in it. Unfortunately, this is when the power is most likely to go out which means your sump pump is now no longer functioning. Maybe you have a battery backup connected but that won’t help in an extended outage. If your home’s water supply is from the city you’ll always have water pressure and that’s the glory of having a water powered backup pump – it will never stop running even if power is out for a week! This little pump sits in the sump pit along side your electric powered pump and you plumb your water supply line into it. It has a float switch to activate it and when it gets triggered a valve opens and the pressurized city water supply rushes through the pump creating a powerful suction which draws water out of the pit and into the tail drain and out of the house. A truly ingenious system that allows you to forget about expensive dead and drained batteries. If you are looking for a top real estate agent in the Kettering, Beavercreek, Bellbrook and surrounding Dayton areas I’d love to speak with you. More New Construction Videos
2021 Home Seller Statistics
2021 brought with it many challenges but when it comes to real estate sales everything was all on the positive side. Take a look at these local housing statistics for the Dayton Ohio area. These are compiled from the November stats of the Dayton Realtors’ multiple listing site that governs all the listed property in the area.As you can see 1476 homes sold in November 2021 which is 5.05% more than that same time last year and 2020 was no slouch in the housing market! Average sale price was $224,639 representing a 12.9% increase over November 2020. Inventory increased 1.29% over November 2020’s level that wasn’t nearly enough to quell the home shortage. 2022 is shaping up to be a similar market. If you are looking for a top Realtor in the Kettering, Bellbrook, Beavercreek, Dayton and surrounding areas please reach out and let’s talk.
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