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Special
Offers: Special offers for Ann Arbor, Saline, and Ypsilanti homeowners
from Missy Caulk and Team, top Realtors |
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Affiliates:
Missy Caulk and Team's real estate web site affiliates |
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eNewsletter:
Missy Caulk and Team's Ann Arbor, Saline, and Ypsilanti newsletter
email will send you the latest real estate information |
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Today's
Real Estate News: Daily real estate news for this neighborhood,
Michigan, and United States |
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Market
Conditions Report: Market conditions report for this area, Michigan,
and United States |
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Monthly
Payments & Schedule: Monthly loan payments java mortgage
calculator |
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How Much Can You Afford?:
Calculate how much home you can afford with this financial
calculator |
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Determine Tax Savings:
Calculate how much your monthly Ann Arbor, Saline, and Ypsilanti
Michigan mortgage payments save you on your taxes because of loan
interest |
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Should You Rent or Buy?:
Is it better to rent a home in Michigan or buy your own Ann Arbor,
Saline, and Ypsilanti house, ranch, luxury property, condominium, acreage, or
other real estate? |
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Adjustable Rate Mortgages:
Adjustable rate Ann Arbor, Saline, and Ypsilanti mortgages information
and interest rate java calculator |
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What Is
Your APR?: Determine the Annual Percentage Rate (APR) for your
mortgage. |
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Fixed or Adjustable Rate
Mortgage?: Use this calculator to compare a fixed rate mortgage to two
types of ARMs, a Fully Amortizing ARM and an Interest Only ARM. |
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Are
Balloon Mortgages For You?: Balloon mortgage calculator. A balloon
mortgage can be an excellent option for many home buyers. |
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15 vs. 30 Yr Mortgages: With
a 15 year mortgage you will pay significantly less interest, but only if you
can afford the higher monthly payment. Use this calculator to compare these two
mortgage terms. |
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How Much Should Your Income Be?:
What income is required to qualify for a mortgage? Use this calculator
to find out. |
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What's
Your Maximum Mortgage?:This calculator will help you determine your
maximum monthly housing payment and the resulting mortgage amount. |
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Will
Buying Points Save You Money?:This calculator helps you determine if
you should pay for points, or use the money to increase your down
payment. |
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TripleCalc:
FREE Software Download: TripleCalc lets you compare three loans at one
time for your property or other Michigan real estate |
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Top National Real Estate Web
Sites: Real Estate Web Sites that include some unique sources of realty
information, listings, and more |
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Link Partners: Missy
Caulk and Team's real estate web site links to other sites about property
selling and buying in this area of Michigan |
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Ask
Anything: Ask Missy Caulk and Team anything real estate |
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NUMBER1EXPERTS: List of all the NUMBER1EXPERT real
estate agentss and realty professionals and brokers in the USA and Canada with
links to their personal web sites with homes for sale |
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Real Estate
Tips: Missy Caulk and Team's realty library of real estate tips and
advice on everything from preparing your home for sale to negotiating with home
buyers to escrow, closing costs, property inspections, and mortgage
brokers |
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Real Estate Trivia:
Missy Caulk and Team's collection of real estate trivia questions and
answers that include real estate topics such as the most expensive home,
largest swimming pool, and more |
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Real Estate Dictionary:
Complete real estate dictionary and glossary of realty words you'll use
when you list and sell your Ann Arbor, Saline, and Ypsilanti property in
Michigan, including legal terms definitions, and more |
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Michigan Agency Disclosure:
Michigan Agency Disclosure |
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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 world's tallest monument?
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| A |
The stainless steel Gateway Arch in St. Louis, MO, designed by architect Eero Saarinen and costing $29 million to build, is 630 feet high. |
 See More Real Estate Trivia > |
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- NUMBER1EXPERTS™ 
