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How to Find Comps With Few Sales

Appraisal Today

If we have 40% fewer sales happening, that means there are 40% fewer comps. GO BACK FURTHER IN TIME: One of the things I’m doing more often today is looking at older comps in the immediate neighborhood. I appraise a lot of 2-4 units and regularly go to other neighborhoods for comps. Think about it this way.

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Is There a Market Correction on Its Way?

McKissock

Join us on Wednesday, September 29th for a Pro-Series webinar, “Impact of Pandemic on Current Market Analyses and Trends.” Following the pandemic, we are experiencing a surging real estate market, which begs the question: Is there a market correction on its way? Of course there is. ” When will the market correction arrive?

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Agents, Are You Pricing For Today’s Market or Yesterday’s?

Birmingham Appraisal

As an appraiser, we must stay on top of what is going on in the market or we can miss the mark on value. Because real estate agents and appraisers are striving for similar results (estimating accurate value) we can all gain valuable insight from the same market data. So what stats do appraisers look at?

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Appraisal in Changing Markets

Appraisal Today

Excerpts: Commentary from a (Ryan) appraisal: Here is a bit of commentary in one of my recent appraisal reports. At the least we ought to describe the market as showing a downward seasonal shift, though it’s possible we can call this a downward cycle if the trend persists over time. One box just isn’t enough. “At

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OK to average adjusted comps on appraisals?

Appraisal Today

OK to average adjusted comps on appraisal? Basic Appraisal, but not all appraisers know about this, especially if they “appraise to fit the form” aka form fillers. Basic Appraisal, but not all appraisers know about this, especially if they “appraise to fit the form” aka form fillers.

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The Cleveland Area Housing Market Was Skating Along… And Then This Happened

Cleveland Appraisal Blog

The data below reflects all single-family pending sales trends by month in Cuyahoga County over the past 10 years. So, things really have slowed significantly. Agents in my area are always good about returning my calls. But the fact that most answer immediately is a sign that things are slow. Welcome to 2023!

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Unacceptable Appraisal Practices from Freddie Mac

Appraisal Today

12 Unacceptable Appraisal Practices from Freddie Mac. Here are 5: Reliance in any appraisal analysis on inappropriate comparable sales, or the failure to use comparable sales that are more similar to or nearer to the subject property without adequate explanation. Nothing new, but good reminders. Appraisal Business Tips