Cleveland Appraisal Blog

APRIL 21, 2022

Could being located next to a property that is an eye-sore cause a loss in market value to your home? Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Of course, that’s not the same as market value.

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Market Value Appraisal Agents Real Estate Agent 350

Housing Wire

JANUARY 9, 2023

Buyer behavior on the Auction.com platform provides one of the best barometers of the retail housing market because the success and livelihood of these buyers depend heavily on them accurately anticipating what the retail market will look like in the next six to 12 months. percent, according to ATTOM Data Solutions.

Retail 491

Retail Sellers Buyers Market Value 491

Appraisal Buzz

AUGUST 16, 2021

Fannie Mae defines market value in part as “the most probable price that a property should bring…” Thus, probability is the very foundation of the most common definition of market value. In other words, why are appraiser estimating market value below the contract price so often? Time to make an offer.

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Market Value Buyers Appraisal Sellers 448

Appraisal Buzz

MARCH 25, 2024

The transaction is a complex interplay between buyer and seller. The hypothetical interaction of the typical buyer (who embodies the collective thought and action of the whole market of buyers) with the typical seller (who similarly embodies the collective thought and action of the whole market of sellers).

Sellers 379

Sellers Appraisal Real Estate Buyers 379

Housing Wire

OCTOBER 12, 2023

When we go through the brokerage valuation process, the product is Fair Market Value (FMV). When we see transactions that are executed at a price that is materially different than FMV, it is usually because the deal terms are imbalanced, favoring either the buyer or the seller. At a 3x multiple, FMV would be $600,000.

Sellers 421

Sellers Buyers Brokerage Agents 421

Appraisal Buzz

SEPTEMBER 26, 2022

They were able to get others to declare the value as fair, but some valued fair as high as possible. They found liar buyers. Everything worked well so long as “value” equaled price! We have rules, we have standards, and we all know the exact definition of value. buyer and seller are avariciously motivated; biased.

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Market Value Sellers Buyers Finance 321

Cleveland Appraisal Blog

FEBRUARY 16, 2024

FINISHED SQUARE FOOTAGE On more than one occasion some who have read my appraisal reports felt that my opinion of value was too high. They felt that way because of sales they saw on Zillow that appeared to be comparable and sold for less than my opinion of the market value of the property I appraised.

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Appraisal Market Value Real Estate Clients 406

Housing Wire

SEPTEMBER 19, 2023

You’ve found a house for your buyer or a buyer for the home you’re selling. If the second appraisal comes back higher, buyers and sellers may feel more comfortable meeting in the middle. Appraisals protect buyers and sellers Buying and selling a home is a financial transaction that involves large sums of money.

Real Estate 450

Real Estate Appraisal Agents Inspection 450

Housing Wire

JULY 17, 2023

With real estate inventory at a near-record low, buyers seeking a place to call home are facing stiff competition as bidding wars continue to be commonplace. It is critical that title professionals and our industry partners spread awareness about this type of fraud and educate buyers about the steps they should take to protect themselves.

Sellers 370

Sellers Real Estate Agent Real Estate Insurance 370

Eppraisal

FEBRUARY 14, 2024

Whether you're a first-time buyer or a seasoned homeowner, understanding these costs is essential for a smooth transaction. Let's delve into the intricacies of closing costs, what they entail, and how they impact both buyers and sellers. What are Closing Costs?

Sellers 36

Sellers Buyers Property Taxes Real Estate Agent 36

Housing Wire

NOVEMBER 23, 2020

Steve Price, senior vice president of trustee operations at Auction.com, said this is likely because of the shift to vacant or abandoned properties that often come with more deferred maintenance – but the average price relative to estimated full market value increased to a 6.5-year year high in September.

Buyers 531

Buyers Real Estate Investors Retail 531

Cleveland Appraisal Blog

DECEMBER 2, 2021

If this is the norm for the neighborhood, the size of the driveway may not have any impact on value. It really depends on the neighborhood and what the typical buyer in that neighborhood is looking for. DOES THE MATERIAL THE DRIVEWAY IS MADE OF MAKE A DIFFERENCE IN VALUE? What about gravel or tar & chip driveways?

Appraisal 243

Appraisal Buyers Market Value Real Estate Agent 243

Lamacchia Realty

JANUARY 4, 2022

BUYERS, DON'T MAKE THESE HOUSE HUNTING MISTAKES! Not Hiring a Buyer’s Agent Some home buyers believe it’s better to work with the listing agent directly hoping they’ll get a better deal than if they hire a buyer’s agent. Listing agents are contractually bound to act in the best interest of their seller, not the buyer.

Buyers 74

Buyers Agents Inventory Sellers 74

Housing Wire

MAY 12, 2022

But these higher home prices and rising interest rates make it extremely challenging for first time buyers to enter the market.”. of mortgaged homes, or one in 31, were considered seriously underwater – meaning the owner owed at least 25% more than the property’s estimated market value.

Supply Chain 458

Supply Chain Housing Market Market Value Buyers 458

Appraisal Buzz

OCTOBER 12, 2021

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. At some point it’s no longer “normal market value minus cost to cure equals as-is value.”

Appraisal 195

Appraisal Market Value Sellers Investing 195

Cleveland Appraisal Blog

JUNE 25, 2021

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. Functional depreciation results when buyers pay less for a home, in comparison to other similar homes, because some aspect of it is less functional than other generally similar homes.

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Market Value Appraisal Marketing Buyers 244

Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. Perhaps they were drinking the Kool-Aid that some are drinking today, that market value is whatever the purchase price is. Don’t drink the Kool-Aid that any contract price is reflective of market value.

Inventory 243

Inventory Market Value Appraisal Contracts 243

Appraisal Buzz

OCTOBER 13, 2021

A new study has concluded that buyers who are willing to close in the month of October avoid prices well above market value. The post Homebuyers Benefit for Closing in October appeared first on DSNews. The post Homebuyers Benefit for Closing in October appeared first on Appraisal Buzz.

Market Value 150

Market Value Buyers Appraisal Marketing 150

Housing Wire

JUNE 11, 2021

A home inspector, hired and paid by the buyer typically, will look at the plumbing, electricity and the overall foundation of the home and then provide a report with their findings. While home inspections aren’t required, they provide the buyer with several important opportunities in the home-buying process.

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Inspection Appraisal Buyers Appraisal Process 432

D Fritz Appraisals

SEPTEMBER 11, 2023

If you are looking to sell quickly or have a limited budget, it is worth researching the renovations that increase home value the most. knows which renovations can add market value – and which will make your home more valuable to you but won’t necessarily increase the selling price. Fritz Appraisals Inc.

Renovations 119

Renovations Home Value Market Value Valuation 119

Housing Wire

MARCH 24, 2023

An appraisal gap is the difference between what a buyer agreed to pay for a home in a purchase contract and what an appraiser concludes as the fair market value of the property. Fannie Mae recently announced the Value Acceptance + Property Data solution. Well, a cure for appraisal gap anxiety has appeared on the scene.

Appraisal 450

Appraisal Contracts Tools Valuation 450

Appraiserblogs

FEBRUARY 16, 2024

The answer is the listing agents pricing strategy and the buyers agents buying strategy. Clearly off the page in relationship to existing market value indicators.

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Agents Market Value Appraisal Contracts 110

Cleveland Appraisal Blog

JANUARY 19, 2023

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.

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Appraisal Buyers Transportation Real Estate 284

George Dell

MARCH 13, 2024

Is this add-on a fair addition to the fundamental, intrinsic value a buyer gets? Is it part of the value of the home? Transaction costs are added to every property transaction. Or is it something else? Is this a public policy issue? Is it an appraisal issue? appeared first on George Dell, SRA, MAI, ASA, CRE.

Buyers 195

Buyers Appraisal Market Value Marketing 195

Cleveland Appraisal Blog

APRIL 11, 2023

The research and analysis that a well-trained professional appraiser can provide you with will include important information above and beyond their opinion of the market value of the property they are appraising. That can have a big impact on market value. Not professional appraisers.

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Appraisal Market Value Legal Property Appraisal 354

Cleveland Appraisal Blog

AUGUST 11, 2022

In that case, potential buyers will lay down an ‘as-is’ offer, which means they will acquire the home in its current condition. Therefore, you don’t have to fix or account for any issues that might be discovered in a professional home inspection issued by the buyer. Buyers may walk away from the purchase.

Renovations 221

Renovations Buyers Appraisal Investing 221

Empire Appraisal Group

OCTOBER 5, 2023

A date of death appraisal, also known as a “valuation as of the date of death” is a type of real estate or personal property appraisal that determines the fair market value of assets as of the date a person passed away. This value is essential for tax reporting and compliance.

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Appraisal Market Value Valuation Law 78

Cleveland Appraisal Blog

AUGUST 6, 2021

Below is a chart from the National Association of REALTORS article on home buyer regret. Some buyers may be relocating from a different state, and feel pressured to purchase a home sight unseen. It’s not that these pictures are meant to deceive buyers. Do you know of anyone who purchased a home within the past year?

Buyers 243

Buyers Property Taxes Inspection Market Value 243

Appraisal Hub

NOVEMBER 30, 2023

Whether you’re considering selling your home, refinancing your mortgage, or simply looking to understand your property’s market value, a professional residential appraisal is the key. employ certified professionals who understand the nuances of the local market.

Appraisal 78

Appraisal Property Taxes Valuation Market Value 78

Housing Wire

JULY 21, 2022

Retail housing market data from June showing early signs of a real estate slowdown was foreshadowed three months earlier in buyer behavior at foreclosure auctions. The as-is market value is typically based on a drive-by broker price opinion or external-only appraisal given the properties are usually still occupied.

Housing Market 410

Housing Market Buyers Marketing Retail 410

Realtor

MAY 17, 2023

While it’s certainly true that you can let go of the anxiety of needing to show your home at any moment, you still need to cooperate with your buyer, the buyer’s agent, and the commitments made in the contract. Negotiating a settlement date Buyers and sellers typically negotiate a settlement date that is mutually agreeable.

Sellers 142

Sellers Inspection Contracts Property Taxes 142

Boston Appraisal

FEBRUARY 11, 2024

This article provides an insight into the appraisal process of historical properties, emphasizing the role of market data, potential buyers, specialized databases, appraisal methods, and the significant impact of preservation restrictions.

Appraisal 147

Appraisal Renovations Architecture Appraisal Process 147

Housing Wire

AUGUST 3, 2023

They repeat the mantra “Home buyers and sellers will always need a real estate agent.” Combining the strengths of AI with the expertise and insights of real estate professionals could provide the best results in accurately assessing the market value of homes.” So how can real estate agents be so cavalier about their job?

Real Estate Agent 370

Real Estate Agent Real Estate Agents Tools 370

Appraisal Hub

SEPTEMBER 8, 2023

What is a Mortgage Appraisal? A mortgage appraisal is an unbiased estimate of the true (or fair market) value of a property. Buyer Protection: For buyers, an appraisal provides assurance that they’re not overpaying for a property. It’s conducted by certified and licensed professionals known as appraisers.

Appraisal 78

Appraisal Mortgage Mortgage Appraisal Market Value 78

Cleveland Appraisal Blog

DECEMBER 10, 2022

As a certified residential appraiser, I can tell you that while some of the things noted in this report can decrease value, they may not, so take these points with a grain of salt. I can tell you that some buyers will certainly agree with these points! Potential buyers may be put off by a home that is carpeted from floor to ceiling.

Appraisal 298

Appraisal Buyers Renovations Investing 298

Housing Wire

APRIL 8, 2021

Surplus funds are proceeds from a foreclosure sale to a third-party buyer that are above and beyond the total debt owed to the foreclosing lender. The increased market size Wells refers to is best demonstrated in the third-party buyer sales rate for foreclosures brought to auction on the Auction.com platform compared to the overall market.

Retail 432

Retail Market Value Marketing Buyers 432

Realtor

NOVEMBER 7, 2023

If you’re a first-time home buyer , you might get a little queasy when the last line of your good-faith estimate comes in at several thousand dollars. Home inspection : This is critical for home buyers. Costs of buying a home #8: Appraisal Your lender won’t loan you money for a home without knowing what its fair market value is.

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Inspection Insurance Sellers Buyers 196