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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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Kristin Gwaltney
Kristin Gwaltney Team / Keller Williams Realty
933 Tracy Lane, Suite C
Clarksville, TN 37040
Direct: 931-233-9770
Office: 931-233-9770
Fax: 931-802-8735
KristinGwaltney@NUMBER1EXPERT.com

Kristin Gwaltney was born and raised in Ashland City, Tennessee. Kristin became a Clarksvillian in 1991 when she began college at Austin Peay State University. Upon graduating from Austin Peay State University with a degree in Marketing & Sales, she went into the Nashville Film Industry Producing nationwide commercials as well as working on several public relation pieces and music videos. In 2001 Kristin permanently moved to Clarksville, Tennessee and decided to start her own business in Real Estate and put her marketing & sales skills to work in the local community. In 2004 Kristin & her husband Grayson merged with Crabbe Construction, LLC where their main goal was to build quality homes for the people in their community. “It is my goal to make a difference in every one of my clients home buying and selling experience and give back to the community my family is so proud to be a part of.” Kristin is committed to values of excellence in all areas of her professional and personal life. You and your home will ALWAYS be a priority. Whether buying or selling an existing home, new construction or investment property, her service, professionalism and enthusiasm are second to none!