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How to Read a Home Appraisal

Chicagoland Appraisal Blog

Reading a home appraisal might feel overwhelming at first, but worry not! While each appraisal may have slight variations, the following structure offers a general roadmap to help you smoothly navigate through it. Before you know it you’ve carefully read and understood the appraisal.

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A Log Home Valuation

Appraisal Buzz

It is no secret that log homes do not appraise well. The question is raised as to what is the real problem with log home valuation and what is the problem with appraisers working in the niche log home market? Many appraisers in urban areas like Chicago believe that the log home market is irrelevant and is not worth exploring.

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USPAP Myths for Appraisers

Appraisal Today

Bradley, SRA, CDEI, McKissock Learning On May 5, 2023, the Appraisal Standards Board (ASB) voted to adopt changes to the Uniform Standards of Professional Appraisal Practice (USPAP), which will become effective January 1, 2024. I suppose it is because most appraisals are done (now) for residential lending purposes.

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Non-Arms Length Sales for Appraisers

Appraisal Today

However, there are six other types of real estate transactions that you need to know about so you can specify these sale types in your appraisal report as they can affect the market value of the property. For appraisals required to be Uniform Appraisal Dataset (UAD) compliant, you must indicate the type of sale for the transaction.

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26 Reasons to Get an Appraisal

Realvals

In today’s dynamic market, there are many situations where you may need a real estate appraisal. An appraisal provides you with the clearest understanding of the value of your real estate. Whether you are buying, selling, or refinancing, an appraisal helps you make well-informed decisions in the process.

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Appraising Historical Homes

Appraisal Today

Historical Properties and Their Unique Appraisal Approaches Excerpts: Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. For many years I appraised in the nearby city of Berkeley, CA. Worth reading. A good summary. Many people don’t like them.

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Biden tax credit to rehab homes is finally unveiled

Housing Wire

HUD plans to launch a “first-of-its-kind interagency effort” to combat inequity in appraisals , according to a White House press release. HUD has also taken steps to craft a rule on the legal duty to Affirmatively Further Fair Housing. Why use several vendors for title searches, appraisals and underwriting when you can use one?