Cleveland Appraisal Blog

APRIL 29, 2021

Welcome to Emily Miller , who wrote this piece for the Cleveland Appraisal Blog. Tips for Increasing Your Home’s Value Without Spending a Fortune. Buying a property is not just about creating a home, it is making a long-term investment. What Home Appraisers Look For. What Buyers Look For.

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Eppraisal

OCTOBER 19, 2021

This is due to low interest rates, historically low inventory and more than usual buyers flocking to the market, thus, homes have been selling in record time. As a result, home values have been increasing. Buyers are offering sellers prices considerably above list price in many cases.

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Cleveland Appraisal Blog

OCTOBER 14, 2021

Speaking of things rising, home prices, as well as the prices of most other things, are rising rapidly. Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. On many of my appraisals at that time, my opinion of value would not support the contract price.

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Robinson Appraisal Group

NOVEMBER 25, 2022

Lower rates typically promote an increase in demand for properties, this in turn drives up pricing, while on the flip side of that, higher interest rates reduce the demand since the costs of a mortgage increase deterring prospective home buyers. appeared first on The Robinson Appraisal Group, LLC.

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Appraisal Today

JUNE 10, 2022

How can we fix the excess of appraisers? Too many appraisers? 2) We will make it harder to become an appraiser; 3) Let the lower fees discourage newcomer appraisers. In past issues of the Analogue Blog, we have considered the “five forces of friction” on the advancement of appraisal. Purchase vs. refi appraisals.

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Appraisal Today

MAY 19, 2023

Chat GPT For Fannie Form Appraisal Reports By Dustin Harris Excerpts: The world of real estate appraisal is constantly evolving (much to our dismay sometimes), and as professionals in this field, it is crucial to stay ahead of the curve by embracing innovative tools and technologies. The answer is, Yes! Nothing wrong with that.

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Eppraisal

MAY 12, 2021

This is a direct result of the historically low inventory of homes available for sale as buyers are competing for homes. NAR statistics cite that across the country the average number of offers on an existing home is between two and six. Buyers are placing their best offers to get sellers to choose them.

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Eppraisal

JUNE 8, 2021

Record sales, high prices, and lots of competition are only a few of the many challenges' buyers are facing in today's market. According to Realtor.com's April 2021 Monthly Housing Market Trends Report, the national inventory of active listings declined by 53% over last year. Prices Too High Home values are rising.

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Eppraisal

APRIL 20, 2021

Due in part to the inventory of available homes for sale being historically low, it was low at the end of 2019 and continues to drop. According to a homebuyinginstitute.com article, in February of 2021, there were fewer home for sale than in February 2020. With limited inventory, home values are on the rise.

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Listing Spark

MARCH 15, 2022

Here are a few tips on how to avoid hurting your home appraisal: What is a home appraisal? Home appraisals are a method by which an appraiser reviews a home and compares them to homes in a specific neighborhood to determine their fair market price. What hurts a home appraisal?

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Eppraisal

JUNE 1, 2021

List your home for sale on the market one minute, and the next you're likely fielding offers. Gay Cororaton, the Research Economist for the National Association of Realtors states, "On average, there were four offers per home sold (closed) in February 2021." Home values are rising because of this.

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Lamacchia Realty

FEBRUARY 21, 2023

A Zestimate incorporates public, MLS and user-submitted data into Zillow’s proprietary formula, also taking into account home facts, location and market trends. It is not an appraisal and can’t be used in place of an appraisal.” -via This decision led to many buyers and sellers questioning the reliability of Zestimates.

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Lamacchia Realty

MARCH 17, 2023

This value is determined by a variety of factors, such as the property’s location, condition, amenities, and recent sale prices of comparable properties in the area. The market value is typically determined by a professional appraiser who specializes in determining property values. Get a FREE Home Value Estimate!

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Housing Wire

NOVEMBER 7, 2023

“If somebody is concerned about that (taxes), I always put it back on the buyer and ask them, ‘Do you have any control in the increase of your rent payment?’” single-family home was $3,901, up 3% compared to 2021, ATTOM reported. The assessed value is often significantly lower than the appraised market value.

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Empire Appraisal Group

MAY 27, 2021

Source: Homes With Pools Are Selling at a Premium | Realtor Magazine. Homes with pools have become the target of buyer envy since the pandemic began. Pool additions are soaring, and more house hunters say they want one in their backyard, according to HomeLight’s “Top Agent Insights for Spring 2021” report.

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Eppraisal

SEPTEMBER 22, 2021

According to an article on Bankrate.com, written by Jeff Ostrowski, "Mortgage rates plumbed to new depths in January 2021, setting all-time lows south of 3 percent." over last year, while the total inventory of unsold homes, including pending listings, declined by 13.8%. There is a record number of buyers on the market to buy homes.

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Empire Appraisal Group

JULY 29, 2021

Home Price Increase: The Highest in More than 15 Years. Source: Home Price Increase: The Highest in More than 15 Years | Florida Realtors. JUNE 29, 2021. Home Price Increase: The Highest in More than 15 Years. Nearly 9 of 10 homes were on the market for less than a month. Copyright 2021 The Associated Press.

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Appraisal Buzz

JULY 18, 2022

The average 30-year fixed rate mortgage rate was its lowest ever at 2.65% on December 31, 2021. Assuming a $250,000 loan was committed on December 31, 2021, your monthly payment was approximately $1,007 exclusive of escrow for real estate taxes and insurance. Therefore, it begs the question: what will happen to home values?

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Sellers Marketing Market Value Home Value 435

Eppraisal

OCTOBER 2, 2021

The real estate markets in 2020 and so far in 2021 have been like no other. The demand for homes has been and is still high, as eager buyers rush to new listings and submit offers quickly. Home prices continue to increase and sellers are reaping the rewards of quick sales. There is more to consider than just price.

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Empire Appraisal Group

JANUARY 13, 2022

Based on that, Redfin analyzed sales in September 2021 to create a list of the hottest real estate markets heading into 2022, and eight of the 10 metros on 2022’s hot list are in Florida. adults aged 55 and up had retired as of the third quarter of 2021, up from 48.1% of home searches came from a different metro area.

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Appraisal Buzz

APRIL 2, 2024

hit in the first quarter of 2021. With home values mostly up annually throughout the U.S., Home ownership on the northeast and west coasts still eats up largest chunk of wages, ATTOM says. That is down from 33.2% But the latest portion is up from 29.6%

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Eppraisal

FEBRUARY 18, 2022

The realtor, of course, comes first to mind followed closely by a home inspector, an appraiser, an attorney, a title agent and a county clerk. It follows that interest rates play a significant role as to whether financing the home value is affordable. That's not even an exhaustive list. What Does This Mean for 2022?

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Listing Spark

OCTOBER 13, 2022

Days on the market are up, home prices are down, but it’s not all doom and gloom. What should buyers and sellers be doing right now? The Austin market has cooled down significantly since 2021 and early 2022. There is more inventory available and home sales are down. Is that the case for all major Texas housing markets?

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Housing Wire

FEBRUARY 4, 2022

Here are 7 trends to watch in the 2022 appraisal market. Our forecast is for home values to rise 16% from December 2021 to December 2022. One of the main headwinds for buyers — higher mortgage rates — will also dissuade some sellers who want to avoid paying more interest on their next home purchase.

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Appraisal Today

DECEMBER 9, 2022

How to Reduce Appraisal Revision Requests. Excerpts: To cut down on appraisal revision requests, it is important to keep these best practices in mind: Communicate in a timely manner. If you disagree with the request for appraisal submissions or have concerns or need clarification, please reach out for clarification.

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D Fritz Appraisals

JUNE 15, 2021

As of May 3rd, 2021, new updates to the Canada Mortgage and Housing Corporation (CMHC)’s First-Time Homebuyers Incentive have come into effect. The First-Time Buyers Incentive can lower your monthly mortgage payments. The First-Time Buyers Incentive can lower your monthly mortgage payments. Am I A First-Time Homebuyer?

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Birmingham Appraisal

JANUARY 11, 2023

The higher rates resulted in larger mortgage payments which took many buyers out of the market. The dynamics of supply and demand dictate that as demand decreases (because buyers are leaving the market due to higher mortgage payments) prices will drop. Whenever this happens the supply and demand formula is affected. Active Listings.

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AmeriMac

FEBRUARY 14, 2022

One of the most important parts of any real estate transactions is by far the appraisal process. Here, a trained professional will gather as much information about a home as possible – along with information about comparable homes in the area – to determine a fair market value. What Is a Foreclosure?

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Empire Appraisal Group

OCTOBER 28, 2021

Home prices nationwide increased year-over-year by 18% in July 2021, the largest annual growth that CoreLogic Home Price Index has measured in its 45-year history. For one, they say the housing market in 2021 is not like the boom-bust cycle leading up to the Great Recession. Copyright © 2021, USATODAY.com, USA TODAY.

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Empire Appraisal Group

OCTOBER 8, 2021

Priced out of the single-family market, more buyers are now turning their attention toward often a more affordable alternative—condominiums and townhouses. Over the past year, sales have rapidly been on the rise, whether for a permanent residence or even as a second home. Condo Prices Are Shooting Through the Roof in Florida.

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Empire Appraisal Group

MARCH 31, 2022

But permit requests citywide for significant demolitions of parts, or all, of a single-family residence reached about 115 last year, a 49% increase over the average between 2018 and 2021, and a 68% jump from 2020, according to city records. The post Teardowns Return as the Cost of Land Rises appeared first on Empire Appraisal Group.

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Quicken Loans

APRIL 7, 2021

Spring is here, and with it comes home buying season. There are also some unique challenges you and your buyers might be confronting in the market now. Sales for both new and existing homes have been on an absolute tear. Finally, traffic of prospective buyers walking through homes was flat at 72. The Big Story.

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