Remove garage-conversion-value
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Was This Home Overimproved or Underimproved?

Cleveland Appraisal Blog

The Appraisal of Real Estate, fifteenth edition on page 352, states that “…the relationship between land and improvements and the relationship between a property and its environment must be in balance for a property to achieve its optimum market value. That is not always a simple task. Are homes like this common in the area?

Appraisal 284
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How Depreciation Works

Cleveland Appraisal Blog

What is the primary reason a newly built home has a higher market value than the same home that is older? Simply stated, it is loss in value. Physical depreciation is the most common cause of loss of value. Physical depreciation is a loss of value due to aging as well as wear and tear on a home. In a word, depreciation.

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What’s The Size of Your Driveway?

Cleveland Appraisal Blog

For instance, some driveways may begin at the street as two cars wide, and then widen out near the garage to accommodate access to a wider garage. If the widening of the driveway adds value, that can all be explained in the report. If the widening of the driveway adds value, that can all be explained in the report.

Appraisal 243
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HW+ Member Spotlight: Stacy Esser

Housing Wire

We can’t just show homes; we have to be a professional real estate business, which means being able to have real conversations when buyers and sellers ask us questions like, “Did we miss the market?” “Are ” This means that when you’re having a conversation with someone, stop talking and ask questions and dive deep.

Sellers 384
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When in Doubt, Give the Homeowner a Shout

Appraisal Buzz

I determined that I had enough information to form a credible result for my reconciled value. It turned out that the house’s interior had been completely remodeled in the six months after the sale, which increased my reconciled value dramatically. A converted two-car garage turned media room, increasing the GLA of the subject.

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How do you count the value of a converted garage when appraising a home?

Realvals

Converting your garage into a studio, man cave, or whatever, can be an excellent way to add some living space to your home. Most of the time when I see someone has done this is when they have a detached garage with a large driveway. Pros of converting your garage. Cons of converting your garage.

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How to Price Your Home for the Current Market

Eppraisal

   Property Valuation Your home value is the primary determiner of your asking price. Appraisal Mortgage lenders use home appraisal reports to make credit decisions, so hiring an appraiser can help you learn about your home’s current market value more objectively.  This