Broker Price Opinion

Order a Broker Price Opinion from an experienced real estate professional.

A broker price opinion, or BPO, is a real estate professional’s written opinion of a property’s estimated market value. BPOs are most often referred to when setting the list price of a property, similar to a comparative market analysis. A Broker Price Opinion is also sometimes used in the case of a foreclosure or short sale. | QUICK ORDER

While browsing real estate listings, prospective home buyers and sellers want to know the prices attached to those properties. Buyers want an idea of how much money they will need to buy each home, and sellers need to know how much they will receive when they sell a property. But who sets those numbers? If the home seller is working with a real estate agent or broker to handle their transaction, the list price of the home is likely influenced by some kind of broker price opinion.

To determine the BPO, a real estate agent or broker will use expertise and experience to assign a dollar amount to a property based on recently sold prices of comparable nearby properties. BPOs are normally performed by a broker who is familiar with the local housing market. Brokers may also take into account an estimate of any improvements or the costs of any necessary repairs.

For some official functions, such as for mortgage financing, an appraisal by a licensed home appraiser is required. A BPO will not suffice for home purchase transaction financing lender decisions. For most other uses, such as basic, unofficial research or verification of home value to a home owner with property value knowledge, such as helping to decide the listing amount, the BPO fits the bill, and at a much lower price than an appraisal. A BPO may provide a quick, easy second opinion for a home seller to consider before accepting an offer from a buyer.

Often taking less than 24 hours, a Broker Price Opinion is cheaper, faster and easier to schedule than a licensed appraisal, and can sometimes include additional information that may not be provided with an appraisal, such as: pros and cons, building report, county assessor record, investment opinion sold properties report and area lenders report. The BPO may be requested for any kind of property, including single family home, condo, multi-family, commercial property or land.

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A Broker Price Opinion may be requested for residential, commercial and other property types.

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker, DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

What’s Making Money in 2022 During Runaway Inflation and Stagflation?

REAL ESTATE NEWS (Los Angeles, CA) — When it comes to making a living, investing, thriving or just surviving, things are changing at a faster pace than ever before. In fact, one investment just shot up more than 12% in the past week alone. Another way of saying it: The U.S. Dollar dropped in value by twelve percent in one week, compared to Bitcoin, the first and most popular cryptocurrency, and likely the #1 hedge against stagflation. Plenty of other types of investments, industries and careers are also booming during these these times of dollar jitters.

In January of 2021, the world caught on to the alarming fact of runaway inflation. Today, consumer sentiment has crashed to a 10-year low. Gas prices have nearly doubled over the past year. Food prices are up 8.6%, the largest increase in 40 years. The average person feels that they are sliding downward financially. The ordinary citizen finds that cutbacks are a necessity, a lower of standard of living is the new standard. Meanwhile, the wealthy have increased their net worth, as have some key industries and sectors of the economy. Just who is making these gains? Here’s the list of financially successful industries to pay close attention to:

AirBnb Short-term rental owners have been doing great, and they’re expecting the coming year to be even better. Bitcoin is now easy to buy – try the cash app. Ethereum – is the new technology for business and finance. Cryptocurrencies are doing so well, that Crypto.com just took over Staples Center in Downtown Los Angeles. Blockchain is the new technology behind Bitcoin, Ethereum and the rest. Its the technology that propels business and finance into the future, while protecting against inflation. NFT Non Fungible Tokens bring some of the newest, biggest hits of blockchain. NFT’s are super popular with artists, collectors and young investors. Investment clubs have sometimes out-performed the market lately, and DAO De-centralized Autonomous Organization is the new way to organize an investment club or a for-profit company using blockchain technology. Shorting bad stocks has been a profitable undertaking, especially during a big crash (Hint: short fraudulent companies, stinkers and losers. Don’t short quality companies or growing companies with proven leadership). Gold Silver, Precious Metals, Semi-Precious Materials and Commodities – These do fantastic during inflation. Online Courses – Make and use, teach and learn using online courses. One thing has not changed: the need to research. Online courses can make lots of money, and also can be the best investment of all, the investment in ones self improvement. Luxury Goods – Offer big gains from the rich getting richer. Political Lobbying – In the time of big government over-spending and corruption, the lobbying industry does better than ever. This is especially true in Sacramento and Washington D.C.

Another principle that does not change: Live below one’s means, no matter how rich or poor, and no matter what the economy is doing. By living below one’s means, an emergency fund is easier to grow and maintain. This also generates excess money to invest in oneself and one’s financial future. Here are today’s easiest ways to reduce expenses quickly:

Check subscriptions – Netflix and other monthly subscriptions can add up to a big drain. Pay down credit card bills – interest rates are high and quietly going much higher on these flat little money pits. Pay off high-rate debts with longer-term loans with lower rates. Keep the car well maintained. – An unmaintained car can waste many thousands in repair bills, while the price of a replacement car shoots through the roof. Get new insurance quotes – ask your insurance company and others if they can save you some money. Usually, the answer is yes. Check out this article called 7 Easy Ways to Save Money for more money-saving suggestions. Suburban home prices appear to be leveling off. Considering down-sizing if living in a home that is larger than needed. Re-allocating a small amount of money can work miracles.

There are more amazing opportunities than ever before. A very small investment today can make a huge breakthrough. Remember, a $40 investment in Bitcoin in 2010 is worth around $500 million today. This kind of massive breakthrough is increasingly abundant for those who prepare, research and seize on modern emergent opportunities.

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.