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. Physical depreciation is the most common cause of loss of value. Even if they are completely renovated, they are still not considered to be new. In a word, depreciation.

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Cleveland Appraisal Blog

JUNE 18, 2022

But once these qualities are developed, many appraisers find eminent domain work to be interesting, challenging but worthwhile, and financially rewarding. Becoming an expert appraisal witness in an eminent domain case starts with developing a comprehensive understanding of how value is determined in this special proceeding.

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Lamacchia Realty

AUGUST 12, 2021

Fixer-uppers tend to be popular among real estate investors as well as first-time homebuyers as they present an opportunity to buy below market value. By making updates, the buyer is able to meet or exceed current market standards and build equity in their property faster. How Much Time Do They Take to Renovate?

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Cleveland Appraisal Blog

FEBRUARY 11, 2022

The appraiser agrees to come in “low” They achieve this by using sales that do not reflect the market value of the property. Does the market value of a home change differ depending on whether the owners are going through a divorce or refinancing their home? The market value is what it is.

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AmeriMac

DECEMBER 30, 2023

Definition and Purpose of REO Appraisals REO appraisals play a crucial role in establishing the market value of homes, especially during the foreclosure process. Mortgage lenders rely on these appraisals to determine the value of fundamental estate-owned properties, directly impacting loan amounts for refinancing.

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PennyMac

OCTOBER 10, 2023

For most loans, the lender obtains a signed and completed appraisal report that accurately reflects the market value, condition and marketability of the property. They must take into account all factors that influence a home’s value when developing the market value opinion in the appraisal report.

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D Fritz Appraisals

OCTOBER 11, 2022

Read on for more information about how a home appraiser determines the value of your property. A home appraisal is a legal document containing information that determines the current fair market value of a new or existing property. Renovation loan assessments. Current real estate market conditions.

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Realtor

AUGUST 1, 2018

Department of Housing and Urban Development. A licensed, HUD-approved appraiser will determine the market value of the home and do a “health and safety” inspection to check for crucial problems such as a crumbling foundation or issues with the mechanical systems. You might not be able to use your FHA loan for renovations.

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The Robert Weiler Company

OCTOBER 21, 2022

If you’re reading this article, you will likely need a commercial real estate appraisal for property being sold, mortgaged, taxed, insured, or developed. The data is then analyzed and used to develop opinions of value. Market value is the most likely selling price a knowledgeable buyer would pay to a knowledgeable seller.

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Cleveland Appraisal Blog

MARCH 4, 2021

There’s value in that. Subsequently, a new home typically has a higher market value than one that has already been lived in. Once we know these things, we can determine how much value a home has lost. They get to choose the upgrades, the style and layout of the home. Now starts the wear and tear.

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Property Metrics

MAY 28, 2021

” If there is curable functional obsolescence, it means that the property could be renovated or upgraded in a cost efficient manner to bring the property up to modern standards. If it exists, it is up to the property owner/investor to assess the cost of repair/renovation versus the benefits that they will receive from it.

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AmeriMac

APRIL 30, 2024

Lenders and investors also rely on commercial appraisals to assess the value of a property before providing financing or making investment decisions. The appraisal serves as a critical factor in determining the loan amount or investment potential, ensuring that the transaction aligns with fair market value.

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Realtor

AUGUST 1, 2018

Department of Housing and Urban Development. A licensed, HUD-approved appraiser will determine the market value of the home and do a “health and safety” inspection to check for crucial problems such as a crumbling foundation or issues with the mechanical systems. You might not be able to use your FHA loan for renovations.

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Inspection Insurance Buyers Renovations 78

Listing Spark

MARCH 15, 2022

Don’t do any major renovations or updates before the appraisal. Major renovations or updates before the appraisal can hurt a home’s value. In fact, most renovation projects don’t return as much as they cost, according to Remodeling Magazine’s 2019 Cost Versus Value Report.

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Housing Wire

JULY 21, 2021

“The first house I rehabbed last year, it was a house that had fire damage in the kitchen, and it was just kind of an eyesore on a nice quiet street,” said McCormick, who said she purchased the home for $25,000 and then put $65,000 into renovations before selling to an owner-occupant buyer for $134,000. “It of the 2021 estimated market value.

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Housing Wire

OCTOBER 10, 2023

A Comparative Market Analysis (CMA) is a detailed report that helps real estate agents evaluate and determine the market value of a property. Assembling your comparative market analysis I usually develop a report that is broken out into five sections, outlined below. They are more appropriate for an appraisal.

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Simonson Real Estate

DECEMBER 6, 2022

In 2022, Simonson Appraisals completed a steady stream of financing assignments with planned new construction or significant proposed renovations. On several occasions, we were presented information about construction or renovation plans well after the initial assignment was started. Clarify What Value or Values are Needed.

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Cleveland Appraisal Blog

MARCH 30, 2021

So many visitors have stopped by over the years, that they renovated the area to make it more visitor friendly, with better parking and a nicer observation area. Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price.

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Simonson Real Estate

JULY 10, 2020

The appraiser’s role is to provide arm’s length, third-party, neutral, and impartial opinions about the value of real property and provide assistance to those who own, manage, sell, invest in, or lend money on real estate. New construction or planned renovations – Actual construction cost statements, plans, material specifications, etc.

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Property Metrics

APRIL 7, 2022

The yield on cost is a commonly used metric when evaluating real estate development and value-add projects. The yield on cost is widely used by commercial real estate professionals to measure the return on a real estate development or value add project. Yield on Cost Calculation: Development Example.

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Realvals

JUNE 18, 2023

An appraisal will provide you with the current market value of your real estate. In some cases, if you and your spouse cannot reach an agreement on the value of your shared property, a court may require a professional appraisal. You’ll learn the current market value, and even valuable income info if requested.

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Cleveland Appraisal Blog

NOVEMBER 11, 2021

One big one is their Zestimate’s inaccuracy at predicting market value, and more specifically, they were relying on their own Zestimates to make important decisions like buying & selling homes. This home has also been renovated in recent years. What is the Market Value in ‘Market Value’?

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Property Metrics

AUGUST 13, 2020

A liquid asset is one that can be sold immediately at market value. If an owner had to sell a piece of real estate by the end of the day, chances are that it would be for a price far below market value. The degree of illiquidity varies according to location, property type, and market cycle. Liquidity Risk.

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The Robert Weiler Company

JULY 6, 2021

Research : Also coined in the industry as “flex,” flex space is utilized for research and development to design new products. Classification is a way to differentiate specific market features for investors. They have usually been constructed over 20 years ago and require renovation at this point.

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The Robert Weiler Company

MARCH 15, 2021

And, it is a major development that the Columbus region should celebrate. But for commercial real estate developers, brokerage firms, and appraisers, there’s another story hiding in plain sight. This scenario is what many real estate developers face. How do you determine the value of Our Lady of Mount Carmel Church?

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Zillow

OCTOBER 25, 2018

If you move here, we will pay down your student debt," explains Christy Hopkins, community development director for Kansas' least populated county, Greeley (in which Tribune sits). The Harmony Economic Development Authority offers a cash rebate program to incentivize new home construction. Median home value: $310,200.

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Housing Wire

OCTOBER 17, 2023

Walking that thin line is becoming increasingly important as more distressed sales are pushed up-funnel into the pre-foreclosure marketplace — a trend that began developing about 10 years ago and has accelerated in earnest over the last two years.

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Assurance Financial

APRIL 29, 2021

Department of Housing and Urban Development (HUD). FICO stands for Fair Isaac Corporation, an analytics company that developed the formula used to calculate FICO scores. FMV (Fair Market Value). A home’s fair market value or FMV is the price it would sell for under normal conditions. government.

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