Thanksgiving Is About More Than Food It’s About Showing Gratitude
As we prepare for our Thanksgiving feasts, Thursday night football games, and Black Friday shopping, take some time to show gratitude for those around you and for what you have. Here are a few ways to practice gratitude this month. Appreciate everything. Get into the habit of being grateful for the little things in your life. It can be easy to acknowledge the “big” things, but nothing is too small to be thankful for. You can be grateful the weather is nice and sunny, that you received the package you’ve been waiting for, or that you got out of bed today. Don’t leave out anything when practicing gratitude. Practice mindfulness. Mindfulness is the ability to be fully present and aware of what’s happening around you. So, instead of being overwhelmed by what you need to do tomorrow or next week, focus on the present moment and enjoy the time
you spend solo or with your loved ones. Live in the moment and take one day at a time. Tomorrow will surely come, and you only have a limited amount of time in the present. Celebrate your challenges. Sometimes struggles and battles in our lives can weigh us down. But when you persevere and continue to push forward, you will find success. Challenges help you improve and strengthen your abilities and resilience, so celebrate the progress you’ve made. Showing gratitude for challenges and negative experiences allows us to acknowledge humility and appreciate growth in our lives. Keep a journal. Writing down the things you’re grateful for will remind you of all the great things you have when other things aren’t going so well. So, keep a journal about what you’re grateful for each day or week — even if it’s
just small things at first. Your perspective on life will change, and it will get easier to see the good things and to feel grateful for things you were likely overlooking. Showing gratitude is something we should do every day, all throughout the year — not just during the holidays. So, try to practice mindfulness and gratitude using these tips! Happy Thanksgiving, everyone!
DOWN BUT NOT OUT
Handling a Low Appraisal
The buyer and seller agree on the price of a home and begin the process of transferring ownership. Since the buyer was pre-approved for a mortgage loan, the rest of the process seems like a formality. But if the appraisal comes in significantly lower than the agreed-upon purchase price, then all guarantees are out the window. Appraisals are part of virtually every home purchase financed through a mortgage. Lenders require them to confirm sufficient collateral for the loan. When the home is worth less than the loan amount, the bank would be unable to recoup its losses after a foreclosure. And without proper financing, a real estate deal can fall apart. Whether you’re a buyer or seller, low appraisals are unfortunate. But they happen, especially in hot markets where buyers enter bidding wars. Fortunately, several options are available for motivated buyers and sellers who want to make the transaction work. First, both sides should understand how the appraiser decided upon the property’s value. Appraisers primarily base their work on comparable properties (“comps”) that have sold in the area over the previous year, and you can request to see the information. If the buyer’s real estate agent believes the appraiser used poor
comps, they can appeal an appraisal. Sometimes, buyers with good credit also seek a different lending institution offering a more favorable valuation.
If the appraisers don’t budge, the buyer and seller may return to the negotiating table. The success of these negotiations will hinge on several factors, most notably the buyer’s ability to put more cash upfront and/or the seller’s willingness to accept a lower price. Say a home is appraised at $50,000 below the selling price. The sellers might lower the price by $50,000 to get it off their hands or offer seller financing for the difference between the appraised value and the selling price. (Note: Always involve an attorney when considering seller financing!) The buyer might also put up an additional $50,000 in cash to satisfy the lender. Often, they use a mix of both approaches, and deals can be salvaged with some give and take. But other times, one or both sides decide to walk away. It’s an unfortunate reality of the real estate market. You’ll only know the right approach to take upon a careful review of the appraisal, the terms of the Purchase and Sale Agreement, an assessment of your finances, and an in-depth analysis with your real estate agent and/or attorney.
2 www.eversolelaw.com
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