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Can a New Construction Sale be Used as a Comp for an Older Home?

Birmingham Appraisal

A Different Market I think we can all agree that the real estate market we are currently in, as of the writing of this post, is not the same one we were in from 2020 to 2022. The market dynamics have changed namely interest rates. When we appraise a house, we’re figuring out how much it’s worth.

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Why Agents Should Share Their CMA With The Appraiser

Birmingham Appraisal

Appraiser and Agent Collaboration is a Good Thing The importance of collaboration between real estate agents and appraisers can be a touchy subject. On one hand, the real estate agent’s main goal is to advocate for their client while the appraiser must be an impartial and non-biased third party.

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Can New Construction Sales be Used in an Appraisal of an Older Home?

Birmingham Appraisal

A Different Market I think we can all agree that the real estate market we are currently in, as of the writing of this post, is not the same one we were in from 2020 to 2022. The market dynamics have changed namely interest rates. When we appraise a house, we’re figuring out how much it’s worth.

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The Pitfalls of Outlier Sales in Pricing a Listing

Birmingham Appraisal

Real estate professionals use a mix of data analysis, market knowledge, and professional judgment to determine a property’s value or list price. Some people will say that it is market value because you have a willing buyer and a willing seller. Should Outlier Sales Be Used When Pricing a Listing?

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My Top 8 Search Criteria For Finding The Best Comps

Birmingham Appraisal

Agents and appraisers are not that different in their desire to determine an accurate market value for a property. If agents utilize the same methods appraisers use in their appraisals there should not be a vast difference between the two values and the likelihood of a deal falling through will be minimized.

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6 Ways to Prevent Conventional Loan Appraisal Revisions

Clear Capital

As an appraisal quality leader and former field appraiser, I know firsthand that working in the real estate appraisal industry can be a wild ride. Due to emerging shifts in the mortgage loan market, there is a heightened sense of urgency to review the conventional loan appraisal guidelines. .