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The unprecedented buyer demand of 2021 will likely be suppressed to some extent due to affordability concerns in some markets, and more housing inventory will most likely be available from both the existing homes and new construction segments.”. The top ones are reconsideration of values, and growing prevalence of desktop appraisals.
As you can see, there are major differences between home appraisals and home inspections and both are very important. There are numerous steps in the appraisalprocess and it’s important to know each step involved. Steps in the AppraisalProcess. What If The Appraisal Is Less Than The Contract?
While the basic approach involves the valuation of properties using comparable sales, the proper use of statistical tools, such as a correlation matrix, can significantly enhance the quality and objectivity of the appraisalprocess. Correlation coefficients in the matrix range from -1 to 1.
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