May, 2020

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ABC World News Report 5-2-20 'Urban to Suburban'

Miller Samuel

If you can indulge me, I was included in the ABC World News Tonight broadcast on Saturday night to talk about the potential urban to suburban housing shift , particularly in NYC. It was cool to be interviewed by Deirdre Bolton for her first World News Tonight segment since just joining ABC via Fox Business and previously from Bloomberg where I had spoken with her before.

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Why Manufactured Housing Deserves a Fresh Look

Genworth MI Blog

Remember when manufactured housing used to equate to mobile homes? Remember when loan officers avoided underwriting loans for manufactured housing for fear of low commissions, foreclosure risks, and the added complexities of underwriting those types of “unreliable” homes? For some, these myths still flood our thoughts when a potential borrower approaches us about a loan for a manufactured home.

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What is considered a bedroom?

Aspen Appraisal Group

What is considered a bedroom? The answer to that question seems simple, doesn’t it? We all know what a bedroom is. As you read this, you’re picturing one now. And yet, when it comes to determining the value of a home, it can be more complicated than you’d think. Let’s rephrase that. Determining what is considered a bedroom has been made to be more complicated.

Appraisal 147
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Early Pandemic Effects on Davis and Woodland, California Residential Real Estate

Yolo Solano Appraisal Blog

As I type this, the 100,000th person in the US has died from the novel coronavirus 2019. The country has shut down to bend the curve. Shelter in place started in Yolo County on March 19, forcing most people to stay home. Unemployment exploded nationwide, going from 3% to nearly 20% in a month while […].

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Predicting the State of Real Estate After the Dust Settles From COVID-19

Willowbrook Valuation

The colossal shutdown as a result of the spread of COVID-19 has been a shock to us all. However, as society gears up to begin reopening over the coming weeks and months, it feels like a great opportunity to start looking forward. What will the state of real estate look like after the dust settles […]. The post Predicting the State of Real Estate After the Dust Settles From COVID-19 appeared first on Willowbrook Valuation & Advisory Services.

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Sell Your Houston House Fast For The Best Price With Keller Williams

Houston Properties

Sell Your Houston House Fast For The Best Price With Keller Williams. Over 134,000 people move to Houston each year. Keller Williams' unparalleled nationwide and international reach puts your home in front of these buyers. Summary. Over 134,000 people moved to Houston each year in the past decade. To sell your home fast for the most money, you need to generate multiple offers.

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Why Manufactured Housing Deserves a Fresh Look

Genworth MI Blog

Remember when manufactured housing used to equate to mobile homes? Remember when loan officers avoided underwriting loans for manufactured housing for fear of low commissions, foreclosure risks, and the added complexities of underwriting those types of “unreliable” homes? For some, these myths still flood our thoughts when a potential borrower approaches us about a loan for a manufactured home.

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Does a Swimming Pool Add Value to a Home in Northern Utah?

Aspen Appraisal Group

It’s Memorial Day weekend. With the majority of counties in Utah being moved to the Yellow (Low Risk) or Orange (Moderate Risk) phase of the COVID-19 Health Guidance System, there will most likely be a number of family gatherings, barbeques, and pool parties taking place over the next few days. Socially distanced of course! You just might find yourself at a pool party and after taking a dip you just might think, “I need one of these in my backyard!”.

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Client versus Intended User

Walitt Solutions

A student in my USPAP Update class recently asked me, “I know I can discuss the report with the client, but I’ve talked about the report with other intended users, too. Isn’t that why they are an ‘intended user’?” Let’s take a look at this issue in a bit more depth, starting with the definitions of “client” and “intended user” from the 2020-2021 edition of the Uniform Standards of Professional Appraisal Practice (USPAP): CLIENT :

Clients 64
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Appraising During Covid-19

Advanced Appraisal

Ernie J Ramos IFA, ASA

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How To Sell Your House Fast For The Most Money

Houston Properties

How To Sell Your House Fast For The Most Money. A home seller guide from the number one Realtor in Houston. Summary. Houston Properties Team listings sell for 7.2% more and for 43.7% faster than average. We’re able to accomplish this because we know what it takes to be able to sell your Houston home fast and for more money. We’ve gained experience as the #1 boutique real estate team in Houston, and have gathered data from our database of 30,000 buyers.

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REX Homes Secures New Round of Investment from Consumer Brand Investor Lion Capital

REX Real Estate

REX Homes, the real estate technology company delivering a full-service online marketplace for residential real estate buyers and sellers and the lowest transaction costs in the industry, today announced a significant minority investment from Lion Capital.

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Recapping Investor Responses to the COVID-19 Outbreak

Willowbrook Valuation

Back in March when the country initially shut down due to the spread of COVID-19, it caused a massive nationwide stall. After ten weeks, we’ve had plenty of time to adjust to our new daily circumstances in terms of social distancing and sheltering in place. Investors have also had time to survey the everchanging economic […]. The post Recapping Investor Responses to the COVID-19 Outbreak appeared first on Willowbrook Valuation & Advisory Services.

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Property Data APIs & Virtual Tours Will be Key as Market Adapts

Home Junction

At times in the world of business, when a major event takes place, such as this COVID-19 crisis, market practices change. Some events can even be a catalyst for lasting change. Let’s face it, conditions in 2020 have certainly altered the real estate landscape. However, one of the great attributes of the real estate industry is its resilience. It will adapt to market conditions.

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Chicago Housing Styles

Rowe Appraisal Group

Real estate agents and appraisers alike often struggle to define the architectural style for unusual or unique properties. Have you ever gotten a new listing, took one look and started scratching your head and asking yourself how you are going to describe this to prospective clients? Even more basic properties can present a conundrum when they nod to more than one typical style.

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Median sales price can be subject to skew by consumer behavior more than math

Miller Samuel

Here's an updated excerpt from my Housing Note newsletter dated October 28, 2016, digging into the median sales price. You can subscribe to Housing Notes and other housing resources for free. I wrote about the median sales price a decade ago , and the message still holds. A couple of years ago, I whipped up a table that shows how median sales price can perform in a changing housing market.

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How to Create Real Estate Videos with a Property API

Home Junction

A property API displaying the trends in local market conditions adds impact to any simple screen-recorded real estate videos. During slowdowns, it might be smart for local brokers and agents to comb that hair, set up a nice background in a room and create some screen recorded videos on their computers. There are a few compelling reasons to have a real estate video strategy in place.

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Ideas to Help Prepare Clients when Real Estate Market Reopens

Home Junction

There are times when the real estate market slows down, but there could still be ways to keep in touch with clients and provide them with valuable property data software for when business cranks back up. Those slowdowns could be seasonal. Or, caused by a natural disaster, such as a hurricane or forest fire. Or they could be totally unexpected, like the situation we find ourselves in today.

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Real Estate Tools Help Add New Clients During Slow Periods

Home Junction

When agents come across slow times, current property data and real estate marketing automation tools can be used to attract new clients and keep them updated as conditions change. As we all know, successful people keep themselves busy during downturns. There are plenty of prospects sitting out there even if they just might not be ready to take action now.

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Market Data for Real Estate Helps Counter Low-Ball Offers

Home Junction

Market data for real estate can be a blessing when it comes to helping your listing clients respond to off-the-wall, low-ball offers. As we all know, market conditions fluctuate. In one instance, you have sellers enjoying multiple offers on a property and achieving a nice percentage increase above their asking price. And then the economy changes, and the equation reverses.

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Real Estate Agent Property Questionnaire

Rowe Appraisal Group

I love when I have the opportunity to meet the listing agent at the property, but as you know, that’s not always possible. This fillable/interactive form allows you to make sure the appraiser has all of the information they need to complete a thorough appraisal of your listing. I’ve broken this form up into two sections with the first covering the recent updates to the property and the second related more to the market area and ways in which your listing shines.

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Appraiser vs. Home Inspector – What’s the Diff?

Rowe Appraisal Group

Often before a property is purchased using a loan from a mortgage company, it must be appraised and inspected. Many homeowners confuse the appraisal inspection and the home inspection and ask me what the difference is. Here are some of the main ways that appraisals and home inspections are different and also overlap. Different End Goals: Value vs. Condition The main thing to know is a real estate appraiser’s focus is on determining the value of the home and those factors that will influence th

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Realtor Tip: Multiple Offers? Tell the Appraiser!

Rowe Appraisal Group

This blog post goes out to all the Realtors who have had a deal fall through because the appraised value was below the contract price. Some of you may even had multiple offers with most of them were even above the appraised value. If this has happened to you, first and foremost: I feel your pain! You are thinking to yourself, “If I have 4 different buyers willing to pay $400,000, how could the appraiser say that it is only worth $390,000?

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The Real Estate Price Per Square Foot Dilema

Rowe Appraisal Group

Ryan Lundquist of Sacramento Appraisal Group wrote a great post explaining economies of scale and how we run into instances all the time in our lives of something small costing more than a larger amount of the same thing. The Starbucks coffee analogy he employs is such a great illustration and I highly recommend checking his article out here ( [link] ) The surprising thing Ryan pointed out, though, is that we often ignore these economies of scale when we make assumptions about the price per squa

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What is an appraisal?

Rowe Appraisal Group

I recently came across this great graphic by Title Source that goes through the home appraisal process and the appraisal basics. It briefly discusses what an appraisal is, why it is necessary, what appraisals are based on, what homebuyers need to know, appraisal myths and truths, etc. In the coming months, I will be unpacking each of these topics and going into more detail about each of the items shown in the “flowchart” to “pull back the curtain” in an effort to educate the consumer on the ap

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Zillow – Still Not Good Enough

Rowe Appraisal Group

Glenview homeowner sues Zillow over ‘sloppy’ estimate In 2014, I wrote a blog post about Zillow and I decided it’s time to turn my attention back to this again. Today, Zillow is still very much in the news and a big player in the world of home values. ​What caught my eye in 2014 was a blog post written by another appraiser in Philadelphia (Michael Coyle of The Coyle Group) who had compared 20 of his company’s appraisal values to Zillow’s value estimate (with similar results

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Northwest Chicago Suburbs – A Tale of Two Markets

Rowe Appraisal Group

I wanted to share a quick insight into what I see in the northwest suburbs as a bifurcated housing market. The upper end of the market* appears to be oversupplied while the lower end** is in balance and getting close to being undersupplied or having a shortage of inventory. The following charts illustrate this point. I looked at 3 northwest Chicago suburbs (Park Ridge, Glenview, and Northbrook).

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How a real estate appraiser uses InfoSparks to analyze the market

Rowe Appraisal Group

During a conversation with a real estate agent, I was asked how we support time adjustments when a market is hot and prices are increasing. I started to explain how we use InfoSparks how it is a valuable tool for me as an appraiser. It allows me to look at different segments of the market very quickly and then use that information in my reports by depicting the trends graphically with charts.

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Chicago Housing Styles

Rowe Appraisal Group

Real estate agents and appraisers alike often struggle to define the architectural style for unusual or unique properties. Have you ever gotten a new listing, took one look and started scratching your head and asking yourself how you are going to describe this to prospective clients? Even more basic properties can present a conundrum when they nod to more than one typical style.

article thumbnail

Real Estate Agent Property Questionnaire

Rowe Appraisal Group

I love when I have the opportunity to meet the listing agent at the property, but as you know, that’s not always possible. This fillable/interactive form allows you to make sure the appraiser has all of the information they need to complete a thorough appraisal of your listing. I’ve broken this form up into two sections with the first covering the recent updates to the property and the second related more to the market area and ways in which your listing shines.

article thumbnail

Appraiser vs. Home Inspector – What’s the Diff?

Rowe Appraisal Group

Often before a property is purchased using a loan from a mortgage company, it must be appraised and inspected. Many homeowners confuse the appraisal inspection and the home inspection and ask me what the difference is. Here are some of the main ways that appraisals and home inspections are different and also overlap. Different End Goals: Value vs. Condition.

article thumbnail

Realtor Tip: Multiple Offers? Tell the Appraiser!

Rowe Appraisal Group

This blog post goes out to all the Realtors who have had a deal fall through because the appraised value was below the contract price. Some of you may even had multiple offers with most of them were even above the appraised value. If this has happened to you, first and foremost: I feel your pain! You are thinking to yourself, “If I have 4 different buyers willing to pay $400,000, how could the appraiser say that it is only worth $390,000?

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The Real Estate Price Per Square Foot Dilema

Rowe Appraisal Group

Ryan Lundquist of Sacramento Appraisal Group wrote a great post explaining economies of scale and how we run into instances all the time in our lives of something small costing more than a larger amount of the same thing. The Starbucks coffee analogy he employs is such a great illustration and I highly recommend checking his article out here ( [link] ).

article thumbnail

What is an appraisal?

Rowe Appraisal Group

I recently came across this great graphic by Title Source that goes through the home appraisal process and the appraisal basics. It briefly discusses what an appraisal is, why it is necessary, what appraisals are based on, what homebuyers need to know, appraisal myths and truths, etc. In the coming months, I will be unpacking each of these topics and going into more detail about each of the items shown in the “flowchart” to “pull back the curtain” in an effort to educate the consumer on the ap