Cleveland Appraisal Blog

OCTOBER 14, 2021

Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. Let’s talk about the difference between today’s market and the one during the years leading up to the bursting of the housing bubble in the Great Recession of 2008. Granted, mortgage rates were not terrible.

Inventory 243

Inventory Market Value Appraisal Contracts 243

Housing Wire

JUNE 11, 2021

You can potentially ask the seller to pay for the improvements, or you can ask for a lower sales price to offset the cost of the repairs. A qualified appraiser will compare recent sales of similar local properties, market trends and conduct a visual inspection of the home’s interior and exterior to determine the property’s fair market value.

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Inspection Appraisal Buyers Appraisal Process 432

Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. The seller will probably never know.

Appraisal 418

Appraisal Market Value Contracts Agents 418

Will Springer Realtor

OCTOBER 19, 2021

The home is under contact, seller and buyer have agreed to terms. Buyer is financing the purchase through a mortgage lender and the underwriter wishes to confirm the value of the home before issuing the loan. (No No lender will approve a mortgage on a home that is valued less than the agreed sales price.).

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Contracts Appraisal Sellers Real Estate Agent 41

Lamacchia Realty

OCTOBER 13, 2022

Sellers and their agents use comps to help determine a proper list price for a property. Closed comparable sales, also known as ‘comps,’ are used to approximate market value for residential properties. All else being equal, the more recent the sale is, the more weight should be placed on the comp’s value.

Marketing 69

Marketing Sellers Buyers Market Value 69

Listing Spark

DECEMBER 9, 2020

One of the most common questions we get from our home sellers at ListingSpark is “How do I determine what my closing costs are”? For this article, we are going to focus on the home seller closing costs we would typically see in Texas with a residential sale (commercial sales typically have a different set of fees).

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Sellers HOA Insurance Contracts 69

Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. The seller will probably never know.

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Appraisal Market Value Contracts Agents 263

Birmingham Appraisal

JUNE 13, 2023

Appraisal Tips For Real Estate Agents As a real estate appraiser with over 30 years of experience, I have seen many changes and challenges in the appraisal profession and the real estate market. You can also explain why some sales are not comparable, such as different market conditions, motivations, or concessions.

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Real Estate Agent Real Estate Agents Reconsideration of Value 79

Eppraisal

OCTOBER 23, 2023

The seller can reject your bid, make a counteroffer or accept your original proposal. Your response depends on how the seller replies. If the Seller Rejects Your Offer The seller may deny your home purchase offer for various reasons. You can say no to the counteroffer, accept it or propose new changes to the contract.

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Real Estate Agent Sellers Inspection Real Estate 69

Listing Spark

JULY 6, 2021

They then either flip them for a profit, keep them as a rental property, or wholesales the contract to another investor. They will then offer you a below market price for your home and quickly flip your property after making some small repairs. As part of the HomeVestors Inc. How it works with We Buy Ugly Houses. Flexible Move-Out.

Sellers 36

Sellers Contracts Investors Real Estate 36

McKissock

JULY 6, 2022

I believe it is helpful to consider topics such as: communication during the transaction , condition of the property, marketing, negotiation process, timelines, transfer of ownership, etc. I would recommend including at least property access, financial outcomes, and potential roadblocks from contract to closing.

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Clients Real Estate Contracts Sellers 87

Eppraisal

FEBRUARY 7, 2023

Whether you decide to hold it and sell when real property values climb or -- alternatively -- develop the lot to convey at a higher price, you are subject to forces of market, timing and competition. First of all, sellers need to know who shops for vacant land, as noted above. A good lawyer will see them coming.

Development 69

Development Sellers Legal Home Value 69

Appraisal Today

APRIL 26, 2024

The 7 Sale Types Explained Excerpts: An arm’s length sale – a sale in which the buyers and sellers act independently and in their own self-interest is the most common type of real estate transaction. A non-arm’s length sale in real estate is a transaction between a seller and buyer who have a connection by marriage, family, work, etc.

Appraisal 77

Appraisal Real Estate Real Estate Agent Contracts 77

Lamacchia Realty

JUNE 21, 2022

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying.

Housing Market 65

Housing Market Bracketing Marketing Sellers 65

Cleveland Appraisal Blog

AUGUST 11, 2022

The type and range of information you have to provide in the seller’s property disclosure will, of course, depend on the legal regulations of the state where you have the property. In addition, selling as-is is the norm in some real estate markets. Not a good marketing strategy. It is easier to move out of your home.

Renovations 221

Renovations Buyers Appraisal Investing 221

Hank Miller Team

DECEMBER 14, 2022

Home buyers and home sellers dabble in the “persuasion” arena during the purchase process as they roll through the deal. Home Sellers & Appraisers When an owner decides to list, their first move to solicit a real estate agent. Blame the market, not that the home was overpriced. More on Karen later.

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Appraisal Real Estate Agent Contracts Agents 52

Birmingham Appraisal

SEPTEMBER 26, 2023

Real estate professionals use a mix of data analysis, market knowledge, and professional judgment to determine a property’s value or list price. The topic of outlier sales came to mind recently when I noticed a sale in my market that was listed between two and three million dollars. There is a difference.

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Real Estate Agent Real Estate Clients Agents 87

Birmingham Appraisal

FEBRUARY 20, 2024

It’s important to understand that collaboration does not mean that both parties must work together so that the deal closes at the contract price no matter what. While agents and appraisers cannot discuss value we can talk about the property and why they may have priced it at what they did.

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Agents Appraisal Real Estate Agent Bracketing 87

Town & Country Residential Appraisals

JUNE 26, 2023

When it comes to appraising homes for buyers using VA-backed financing, the Tidewater process plays a crucial role in determining fair market value. Its purpose is to protect the interests of veterans and ensure fair market value. What is the Tidewater process and what is its significance in VA-backed home appraisals?

Appraisal 36

Appraisal Market Value Buyers Sellers 36

McKissock

JULY 27, 2021

Many survey respondents emphasized the importance of making sure your work is as detailed and well-supported as possible—by means of careful comparable selection and analysis, thorough documentation, and clear explanation of why the available comps do not support the contract price. ” “Market analysis and illustrations.”

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Appraisal Contracts Clients Marketing 109

Raleigh Realty

FEBRUARY 19, 2022

Like making counter-offers and going through the home inspection process, the home appraisal can be a sticking point between buyer and seller. A home appraisal determines the fair market value of a home. The home appraisal is something you can negotiate prior to going under contract as well, or even while under contract.

Appraisal Process 139

Appraisal Process Appraisal Construction Sellers 139

McKissock

OCTOBER 3, 2021

As part of our contributor series, Daniela Andreevska , content marketing director at Mashvisor , talks about investment property strategies. As a wholesaler, you need to find a property for sale, acquire a contract from the seller, identify a buyer, and assign the contract to him or her.

Investing 87

Investing Real Estate Real Estate Agent Realtors 87

Lamacchia Realty

FEBRUARY 21, 2023

“The Zestimate® home valuation model is Zillow’s estimate of a home’s market value. A Zestimate incorporates public, MLS and user-submitted data into Zillow’s proprietary formula, also taking into account home facts, location and market trends. What exactly is a Zestimate? via Zillow.com Are Zestimate’s Worth Looking At?

Real Estate Agent 73

Real Estate Agent Real Estate Sellers Realtors 73

Appraisal Today

JULY 1, 2023

NOTE: Please scroll down to read the other topics in this long blog post on new online Fannie forms, highest and best use, real estate market, unusual homes, mortgage origination stats, etc. Famed Rotating Home in California On the Market for $5.3M How can market value be a function of price since price is not value?

Appraisal 86

Appraisal Contracts Market Value Mortgage 86

Appraisal Today

JANUARY 20, 2023

Spend hours writing volumes of supporting documentation to justify the market value of a property you already decided on when you pulled into the driveway. Record Share Of Sellers Give Concessions To Buyers Excerpts: ‘Buyers are asking sellers for things that were unheard of during the past few years.’

Appraisal 52

Appraisal Contracts Sellers Business 52

Appraisal Today

JANUARY 19, 2024

During the two-year renovation, the seller, who bought the home in 2017, updated the kitchen with a Bosch cooktop, Gaggenau appliances, and soft-close doors. An example of this in real estate appraisal is the purchase and sale contract. In and of itself, it is not market value. But I never did any marketing.

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Appraisal Contracts Real Estate Architecture 74

Birmingham Appraisal

JUNE 21, 2023

Appraisals provide an objective assessment of a property’s worth, ensuring accurate market value and facilitating successful transactions. Recent Comparable Sales: Appraisers analyze recent sales data of comparable properties in the area to provide a market-derived opinion of value.

Real Estate Agent 76

Real Estate Agent Real Estate Agents Appraisal 76

Cleveland Appraisal Blog

MARCH 30, 2021

This fish phenomenon reminds me of the housing market today. As soon as homes hit the market, they often sell in days, with numerous offers that usually bid the list price up. People who are willing to spend tens of thousands more than the market will really support, seem to be speculating that things will continue as they are.

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Hank Miller Team

NOVEMBER 22, 2022

In brief (operative word), an appraisal is an estimate of the current market value of a home completed by an appraiser using set evaluation criteria. They do not represent either buyer or seller. In simple terms, the lender will not lend more than a certain percentage of what the home is worth as of the date of contract.

Inspection 52

Inspection Appraisal Buyers Sellers 52

McKissock

JANUARY 31, 2023

We don’t just pull numbers out of the air—they are market supported adjustments backed by ‘many angles’ of research.” ” “There is a lot of research and number crunching to do, so asking for a value at time of inspection is a no go.” ” “That we research value, we do not assign it.”

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Real Estate Agent Real Estate Agents Appraisal 97

Clear Capital

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. And homebuyers certainly don’t want to overpay and start off their ownership journey with negative equity.

Appraisal 36

Appraisal Contracts Market Value Valuation 36

Eppraisal

DECEMBER 20, 2022

Whether you are a home buyer or seller, the real estate transaction can sometimes be tricky to navigate. You can then have automated emails sent to you once those home types come onto the market. Your agent will guide you through the process and present the offer to the seller's agent on your behalf.

Real Estate 36

Real Estate Buyers Inspection Real Estate Agent 36

Will Springer Realtor

FEBRUARY 1, 2022

Sellers have the option to review offers on their home upon receipt of the bid or in the future, better known as an “offer review date.”. In a hot sellers’ market, establishing a date to examine bids – especially on a popular home in a desired neighborhood – is a common strategy and one that can generate a frenzy among buyers.

Real Estate 36

Real Estate Sellers Buyers Legal 36

AmeriMac

OCTOBER 5, 2022

If you are in the process of buying a home, getting a home appraisal of the property can help you to get the correct market value for the home so that you don’t pay too much for it. It can be helpful for both the buyer and the seller of the property when the true value of the home is assessed. Home Appraisals.

Appraisal 36

Appraisal Mortgage Market Value Sellers 36

Listing Spark

FEBRUARY 9, 2023

A home appraisal is a process in which a licensed appraiser analyzes your property and determines the fair market value of your home. People typically use an appraisal to validate the value of a home or property for real estate transactions between buyers and sellers, or if homeowners are refinancing their mortgage.

Appraisal 36

Appraisal Sellers Market Value Contracts 36

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. There has been a meeting of the minds, the contract has been signed and everyone is anticipating a smooth closing. What just happened? That’s not the case here. Read the report!

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Appraisal Reconsideration of Value Agents Market Value 78

Cleveland Appraisal Blog

MAY 27, 2021

While it may seem like many buyers don’t care about what the market value of a home is, I think that we must be careful to not make that assumption. While some may be willing to spend more than market value on a home, in many cases, there is a threshold to the amount a buyer is willing to spend on a home.

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Market Value Appraisal Buyers Marketing 418