Cleveland Appraisal Blog

OCTOBER 29, 2021

If you’re reading through an appraisal report, and you make it to the Cost Approach, which is where appraisers report either the reproduction or replacement cost of the home they are appraising, you will see a little field that says, “ Remaining Economic Life “ What does this number indicate?

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Appraisal Buzz

AUGUST 16, 2021

Like many busy appraisers, I can spend a lot of time in my own little world just trying to keep my head above water. Lately, though, I’ve been trying to carve out some extra time to find out about what other appraisers are saying and doing in this unusual market. Let me summarize the theory of a normal distribution.

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Cleveland Appraisal Blog

FEBRUARY 11, 2022

When I signed up several years ago, I had some work to do to get back into running shape. The marathon is in May, and I have a lot of work to do to get my body back in running shape. Just like going cheap when buying running shoes can be costly, the same is true when it comes to hiring an appraiser. GOING CHEAP CAN COST YOU.

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Cleveland Appraisal Blog

MAY 26, 2022

Occasionally, when performing appraisal inspections/observations, I see homes that suffer from serious settlement issues. I once appraised a home that had a noticeable tilt to it when walking through. This helped me to see that there was not a large negative impact on value or marketability. Sometimes, it’s the foundation.

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Cleveland Appraisal Blog

JUNE 7, 2022

This week I will be traveling to Columbus for the annual Ohio Coalition of Appraisal Professionals summer seminar. I’m looking forward to a little networking and catching up with my appraisal friends. Check out the following ideas from Cleveland Appraisal Blog to design your home office on a budget!

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Cleveland Appraisal Blog

MAY 6, 2022

I hope that you’re doing well! Merely putting your current home on the market is a lengthy and tedious process that requires hiring a realtor, making improvements, staging, finding and enrolling a reputable appraiser to determine the property’s value, et cetera. – Howdy friends! Start now and take your time.

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Cleveland Appraisal Blog

MARCH 4, 2021

Like most aspects of an appraisal, things seem easy. Last week, a real estate agent asked me about how appraisers adjust for age. There’s value in that. Subsequently, a new home typically has a higher market value than one that has already been lived in. That is, until one takes a closer look. Age is a good example.

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Cleveland Appraisal Blog

MARCH 3, 2022

How many steps do most people take in a lifetime? There are straight stairs, L-shaped stairs, U-shaped stairs, spiral stairs, winder stairs, curved stairs, cantilever stairs, split staircases also known as bifurcated stairs (many appraisers dislike the term bifurcated… don’t ask), ladder stairs, and drop stairs.

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Appraisal Today

MARCH 15, 2024

How To Appraise Rural Properties Excerpts: Appraising residential properties in rural areas can be both challenging and rewarding. Unlike the standardized expectations of urban and suburban properties, rural properties often present unique characteristics that require a nuanced approach to valuation.

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Appraisal Today

MARCH 22, 2024

Selecting comparable properties based on price may inadvertently favor properties within a predetermined price range, rather than those genuinely similar to the subject property in terms of location, size, condition, and other relevant characteristics. waterfront), and amenities. Good analysis of factors in comp selection.

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Miller Samuel

FEBRUARY 12, 2019

When Jeff and Marie asked me to be formally interviewed for their blog " The Apple Peeled " I was happy to do so, especially because I could veer off the road into issues about the current mortgage and appraisal process. The most recent asking price is “really the moment the property entered the market,” he said.

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Raleigh Realty

FEBRUARY 19, 2022

Appraisals 101: What to Expect From the Home Appraisal Process Wondering what to expect from your home appraisal? Now it's time for the home appraisal. But before you do there's one last factor to consider: the home appraisal. Here's what you need to know about home appraisals so that you come prepared.

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Appraisal Today

DECEMBER 29, 2023

Understanding Functional Obsolescence in Appraisals By: McKissock Excerpts: For appraisers, functional obsolescence can be a challenging concept because the elements that influence property values may not be obvious or immediately apparent. To read more, Click Here My comments: All appraisers see functional obsolescence.

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Appraisal Today

MARCH 8, 2024

Other topics include: It’s never just about resale value 55+ communities Splitting hairs to prove an adjustment To read more, including Ryan’s many comments, fun images and graphics, his Twitter X and Instagram surveys, plus 50+ comments, Click Here My comments: This is the only analysis I have ever seen about this appraisal topic and it is great!

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Birmingham Appraisal

DECEMBER 19, 2023

While I cannot speak to most of those duties, or how to do them, I do have something that I would like to share regarding the pricing and appraisal part of their job. As always, if you have any questions about what I am discussing here or about the appraisal process in general feel free to contact me.

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Appraisal Today

JANUARY 19, 2024

The Sopranos – Lupertazzi’s Rough Up Appraiser To watch, click the video above. Members of the Lupertazzi Crime Family rough up an appraiser who is involved with Tony’s HUD scam. I will never forget “I’m only the appraiser!” Therefore, the appraisal industry must begin to push back.

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Boston Appraisal

OCTOBER 8, 2022

In recent years, it has become common for lenders to obtain hybrid appraisals. While appraisers provide an essential service through their reports, this work comes at high costs to the buyer or borrower. This cost can be measured in terms of dollars spent on an appraisal or the time required to produce a full appraisal report.

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Appraisal Today

DECEMBER 8, 2023

OK to average adjusted comps on appraisal? There is a prohibition on averaging techniques, but that applies in the Reconciliation section with regards to reconciling the three approaches to value. The discussion of the reconciliation of the indicated value of each comparable sale contains no such prohibition.

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Appraisal Today

APRIL 19, 2024

Appraisal Institute Counters Flawed Appraiser Bias Narrative Excerpts: In reality, appraisers have a great story to tell, but we have a long way to go to refocus the terribly flawed “appraiser bias” narrative onto facts and science. Industry groups should also step up to support appraisers. It is human nature.

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Birmingham Appraisal

APRIL 25, 2023

If you’re looking to purchase a home and you’re financing it with an FHA loan, the property will need to meet certain requirements to be approved for the loan. These requirements pertain to the handrails and porch railings of the property. Loans secured by an FHA mortgage must meet HUD Minimum Property Requirements or MPRs.

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McKissock

DECEMBER 14, 2021

Property appraisers don’t dictate what the value is. We merely research and analyze market data to interpret and then report what the market says the value is. Many years ago, an appraiser friend (Ben was his name) asked me to go along on a challenging appraisal assignment to aid in data collection.

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Appraisal Today

SEPTEMBER 22, 2023

NAR Member Survey on Data Collectors Excerpts: In May 2023, NAR surveyed its members pertaining to data collectors in the appraisal process. Brokers followed with 24%, and appraisal-certified professionals comprised 14% of the respondents. I am working on an article on Hybrid Appraisals for the November issue of Appraisal Today.

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Birmingham Appraisal

JULY 7, 2022

What Are Some Reasons Your Home May Not Appraise? With the current shift in the real estate market, we may see changes in sales activity that will affect your home’s value. The market is constantly changing and it is important to keep up with what is happening if you want to stay current on property values.

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McKissock

AUGUST 27, 2021

.” Let’s take a look at what location is, and how it fits into appraising. ” A perfect example of the importance of location in appraising can be found in The Villages in central Florida. ” A perfect example of the importance of location in appraising can be found in The Villages in central Florida.

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Birmingham Appraisal

JUNE 9, 2022

What is a Probate Appraisal? You may have heard the term before but may still be asking yourself “what is probate and what is a probate appraisal?” A probate appraisal is typically required by the court and is used to help settle the estate. A probate appraisal is required for multiple reasons.

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Portland Appraisal Blog

AUGUST 8, 2020

“Why is an appraiser asking me about an old comp?” ” Since this question keeps popping up, I thought it might be helpful to address it with a blog post. So, it’s understandable why an agent might be skeptical about an appraiser querying them about a sale they closed over a year ago or, sometimes, a few years ago.

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Appraisal Partners Blog

OCTOBER 20, 2019

” Many real estate professionals are focused on what a property is sold for on a per square foot basis. We do not include finished basement area or accessory dwelling units in the price per square foot calculation. Price per square foot gives us a quick overview of value. Why value is not based on price per square foot.

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Appraisal Today

NOVEMBER 4, 2022

Appraisers Share Their Best Tips for Working with AMCs. Excerpts: In a nutshell, our survey respondents recommended that you should: 1) do your research and get to know the AMCs, 2) build a relationship with them, 3) treat the relationship as a partnership, and. Practical real estate appraisal writing tips for AMC questions.

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McKissock

AUGUST 18, 2020

In my previous blog post , I observed that specializing in complex property appraisal can be very profitable for the residential appraiser—in Florida and all across the U.S. The complex assignment is one in which the property to be appraised, the form of ownership, or market conditions are atypical.

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Clear Capital

NOVEMBER 14, 2022

How do you feel when an appraisal revision request pops up in your inbox in the morning? You already painstakingly checked your appraisal report the previous night before hitting ‘send’ and now you’re on your screen the next day, making revisions to the same report under a tight deadline! . Frustrating, right?

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Portland Appraisal Blog

APRIL 14, 2019

All the work getting the property ready for listing, the extensive marketing, the numerous showings, the sometimes tedious offer evaluations has paid off. Streaking through the atmosphere is a meteor scientists have dubbed “the appraisal”; it came of out nowhere and impacts your deal at hypersonic velocity, obliterating it in an instance.

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Appraisal Today

JULY 14, 2023

What tool do you prefer to use when measuring a house? Recent Appraisal Buzz survey Measuring tape – over half Laser – less than half Guesstimate – a few, but way too many! Appraisal Business Tips Humor for Appraisers Click here to subscribe to our FREE weekly appraiser email newsletter and get the latest appraisal news!!

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Tools Appraisal Insurance Contracts 76

Appraisal Today

MARCH 31, 2023

Fannie Mae: Appraisals are no longer the default option: Value Acceptance replaces Appraisal Waiver Fannie Mae updated its Selling Guide on March 1 to include more options for property valuations, saying that they are “moving away from implying that an appraisal is a default requirement.”

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Appraisal Today

JULY 21, 2023

The value of a pool for Homes? This likely has to do with the cost of building a pool, cost of maintaining a pool, and even larger parcels at higher ranges – not to mention buyers at higher price points expecting a pool more often. This week, the highest temperature will be under 70 degrees. That’s what we always hear.

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Appraisal Today

APRIL 14, 2023

Appraising Fixer Uppers Excerpts: We’re all familiar with the term “fixer-upper.” For many different reasons, properties can come on the market in less-than-par condition. The degree and cost to cure becomes an issue to buyers and sellers, and a challenge for appraisers. In my MLS “contractor special” is often used.

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McKissock

JANUARY 14, 2022

The negative impacts on the marketability of residential properties caused by odors from pet dander, feces, and urine can be significant factors in the price a buyer is willing to pay. For example: I had an assignment to appraise a 3,500 sq. Another example is one of my own rental properties.

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Birmingham Appraisal

OCTOBER 26, 2022

As interest rates increase so do house payments. So what does all of this have to do with pricing your home too high? Using sales from last year or before the increase could possibly give you a different value result. Don’t Be Guilty of Pricing Your Home Too High. In fact, the market continues to shift.

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