Appraisal Buzz

AUGUST 16, 2021

Like many busy appraisers, I can spend a lot of time in my own little world just trying to keep my head above water. Trying to meet deadlines, keep my clients informed, and put out a quality product in this busy market is enough to make my head spin. Herein lies the appraisal gap. But what offer will the seller accept $400,000.

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Market Value Buyers Appraisal Sellers 448

Cleveland Appraisal Blog

SEPTEMBER 3, 2021

In most parts of the country, real estate appraiser’s main source of data is the multiple listing service. MLS) We use it to find homes that are comparable to the ones we are valuing, to determine what buyers are paying for similar homes. An appraiser may miss that sale through no fault of their own. NO BLANK FIELDS.

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Agents Appraisal Renovations Development 378

Cleveland Appraisal Blog

FEBRUARY 16, 2024

It’s been a while since I’ve written an article. So, first of all, thank you for being here to read articles from my blog! I know most of my readers are interested in appraisal and real estate-related topics. To lump them all together can lead to some misconceptions about value. I recently appraised a home for a divorce.

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Appraisal Market Value Real Estate Clients 409

Cleveland Appraisal Blog

JUNE 17, 2022

When developing an opinion of the market value of a property, what appraisers are really measuring is how much depreciation a property has suffered from, and more specifically how much depreciation the improvements on the land have depreciated. In other words, how long will the improvements contribute value to the land?

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Appraisal Development Market Value Tenants 283

Cleveland Appraisal Blog

JUNE 18, 2022

I normally don’t post more than one article per week. This week I have a bonus article for my appraisal colleagues who are interested in becoming expert appraisal witnesses in eminent domain cases. This article was written by Leslie Fields, the Executive Director, Owner’s Counsel of America.

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Appraisal Law Development Valuation 312

Appraisal Buzz

FEBRUARY 17, 2025

This article is featured in the 2024 edition of the Appraisal Buzz Magazine. Some other features in our magazine include funny Buzztoon comics, industry trends, as well as crazy stories from appraisers and readers like you! Read all these articles and more in the latest edition HERE.

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Legal Appraisal Easement Valuation 243

Cleveland Appraisal Blog

MAY 26, 2023

Most weeks I perform appraisals for divorce or a marriage dissolution. In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. But then they had to hire me to perform an appraisal. That’s right!

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Appraisal Real Estate Agent Real Estate Valuation 305

Cleveland Appraisal Blog

NOVEMBER 11, 2021

I have written several articles demonstrating the inaccuracy of AVMs like Zillow’s Zestimates. 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. There are several reasons.

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Valuation Market Value Appraisal Real Estate 369

Cleveland Appraisal Blog

MAY 27, 2021

Who needs an appraiser when one has cash? I must admit, in the past year, there have been times when I have felt like many buyers don’t really care about value anymore. 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.

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Market Value Appraisal Buyers Contracts 418

Cleveland Appraisal Blog

MARCH 30, 2021

According to the park manager Pete Houghton, who was mentioned in an article, “Where the Ducks Walk on the Fish” , this attraction draws over 300,000 visitors a year. When an appraiser’s opinion of value is below the contract price, that’s when the carping begins. That is a lot of bread!

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Housing Market Marketing Reconsideration of Value Appraisal 368

Appraisal Buzz

AUGUST 26, 2024

This article is featured in the 2024 edition of the Appraisal Buzz Magazine. Some other features we have in our magazine include Buzztoon comics, as well as crazy stories from appraisers and readers like you! Read all these articles and more in the latest edition HERE.

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Valuation Appraisal Marketing Market Value 369

Appraisal Buzz

AUGUST 15, 2022

The latest edition of Appraisal Buzz Magazine is here! This year, our magazine is loaded with insightful articles ranging on topics such as market value to ANSI standards, and so much more! We have articles to help appraisers, AMCs, and lenders grow in every aspect of their business. 7 th 1 – 4 pm.

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Appraisal Valuation Market Value Business 195

Cleveland Appraisal Blog

FEBRUARY 11, 2022

Just like going cheap when buying running shoes can be costly, the same is true when it comes to hiring an appraiser. If you’re in need of an appraisal, I highly recommend not going with the cheapest appraiser. At first glance, two appraisals may both look impressive to someone who doesn’t know anything about appraisals.

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Appraisal Market Value Clients Design 221

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. However, oftentimes, it does not. .

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Appraisal Market Value Contracts Agents 418

Cleveland Appraisal Blog

JULY 6, 2022

In one Facebook group the other day, (yes, I’m back on Facebook ) one member mentioned they feel that a person who scans a property to provide an appraiser with a floor plan should be licensed. WHAT IS AN APPRAISAL INSPECTION? I think it’s important to understand what an appraisal inspection is. What do you think?

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Inspection Appraisal Technology Clients 374

Appraisal Today

NOVEMBER 1, 2024

FHFA’s Appraisal Waivers Expansion The Great Debate on Appraisal Fees Updated UAD redesign timeline with specific implementation dates Mortgage applications decreased 0.1 A well-appointed kitchen can significantly enhance a property’s appeal and marketability. Of course, appraisers see all types of kitchens.

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Appraisal Training Contracts Mortgage 86

Cleveland Appraisal Blog

AUGUST 6, 2021

Below is a chart from the National Association of REALTORS article on home buyer regret. I’ve appraised many thousands of homes over the years. By the way, appraisers are looking for things readily observable. The scope of work for an appraisal inspection is completely different than that of a home inspector.

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Buyers Property Taxes Inspection Market Value 243

Cleveland Appraisal Blog

DECEMBER 10, 2022

I’m so sorry for the weeks I missed posting articles last month. This week, Betty White shares some things that can decrease property value. As a certified residential appraiser, I can tell you that while some of the things noted in this report can decrease value, they may not, so take these points with a grain of salt.

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Appraisal Buyers Renovations Investing 302

Cleveland Appraisal Blog

SEPTEMBER 2, 2022

Have you ever read thru an appraisal report? You may have noticed that there are three approaches to value. The Sales Comparison approach, as the name implies, compares the property being appraised to other properties that a potential buyer might consider as a substitute for buying the property being appraised.

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Appraisal Development Valuation Market Value 342

Cleveland Appraisal Blog

MARCH 25, 2023

Hopefully, this article has provided you with valuable information and insights on the best practices for choosing a commercial dumpster rental company. And thank you dear reader for visiting the Cleveland Appraisal Blog! I’m excited to see some of these trends in the properties I appraise this year. Have a great weekend!

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Supply Chain Appraisal Renovations Market Value 285

Cleveland Appraisal Blog

JANUARY 5, 2023

I’ve noticed recently that when I call real estate agents to confirm information about properties I am using in my appraisal, almost every agent answers their phone and if they don’t, even if I don’t leave a message, they call me back. Thank you so much for continuing to read my articles at the Cleveland Appraisal Blog!

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Housing Market Marketing Appraisal Inventory 374

Appraisal Partners Blog

JANUARY 20, 2025

Introduction The residential appraisal is a cornerstone of the real estate world, yet it’s often shrouded in mystery for many homeowners. Whether you’re buying, selling, or refinancing, an appraisal plays a vital role in determining the true market value of a property.

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Appraisal Inspection Valuation Appraisal Process 78

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. What do they indicate and how do appraiser’s measure depreciation? It is an improvement in which there is little if any return in value for the cost of the improvement.

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Market Value Appraisal Marketing Buyers 244

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. In this article, I’ll share the steps, what to include, what not to includes, and how to assemble a CMA report that’ll impress your clients. More on that later.

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Marketing Real Estate Agent Clients Tools 435

Housing Wire

MAY 18, 2022

Also, an independent appraisal during the loan process locks in the property’s market value at the time the reverse mortgage loan is funded. Take a look at some of the most recent press – The New York Times published an in-depth article in April 2022: “Reverse Mortgages Are No Longer Just for Homeowners Short on Cash.”.

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Mortgage Clients Insurance Tools 418

Cleveland Appraisal Blog

JANUARY 19, 2023

The Appraisal of Real Estate, fifteenth edition on page 352, states that “…the relationship between land and improvements and the relationship between a property and its environment must be in balance for a property to achieve its optimum market value. What do these things indicate? That is not always a simple task.

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Appraisal Transportation Buyers Property Appraisal 288

Appraisal Buzz

SEPTEMBER 26, 2022

This article was originally published in the latest edition of the Fall 2022 Appraisal Buzz Magazine! Once upon a time, there was a rich nation which valued many things. They all liked value. We have rules, we have standards, and we all know the exact definition of value. Let’s pretend market value is market value.

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Market Value Sellers Buyers Finance 321

Cleveland Appraisal Blog

JUNE 10, 2021

I have read this from various sources including the article “One Onion Ring Ends Up In Every Burger King Order of Fries” , from the SouthFloridaReporter.com. Another article at brobible, entitled “10 things you probably didn’t know about onion rings” , mentions the same thing. So, they may call me.

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Business Advertising Appraisal Real Estate 273

DataMaster

APRIL 6, 2021

What is an home appraisal? Why Didn’t My Home Appraise Higher? Appraisals can be confusing. A friend (I’ll call him Art) recently had his home appraised. When the appraisal came back, he was shocked to see that his home appraised for less than two homes nearby that had recently sold.

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Appraisal Appraisal Process Buyers Training 158

Cleveland Appraisal Blog

JULY 22, 2021

So, I am grateful to have guest blogger, Seth Murphy, who wrote this article for the Cleveland Appraisal Blog. I hope that you find his article beneficial. A roof improvement can also raise the home’s appraisal value if you ever decide to sell in the future. Tackling Electrical Projects. www.anchor.fm/cash-appraiserstats.com.

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Renovations Appraisal Home Improvement Client Relationships 243

Appraiserblogs

JULY 24, 2024

The HousingWire article highlighting that only 40% of homes sold include an “accurate” appraisal, as defined by the Corporate Settlement Solutions (CSS) report, is deeply problematic and indicative of a concerning lack of understanding around the appraisal process.

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Appraisal Appraisal Process Market Value Marketing 120

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”. On many of my appraisals at that time, my opinion of value would not support the contract price. Don’t drink the Kool-Aid that any contract price is reflective of market value.

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Inventory Market Value Appraisal Contracts 243

Appraiserblogs

JANUARY 6, 2023

The appraisers are the convenient scapegoats every time. Anytime the real estate market takes a hit, 99% of the time it is because of banking and lending practices. The appraisers are the convenient scapegoats every time. A Low Appraisal is Now a Bad Appraisal A low appraisal is now a bad appraisal.

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Appraisal Lending Market Value Real Estate 115

Cleveland Appraisal Blog

JANUARY 21, 2021

When performing an appraisal observation, appraisers must look for settlement issues and report on them. Especially if they are believed to be indications of major structural problems because this has an impact on value. I have shared it at the end of this article. I should make it clear that I am not a crack expert.

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Appraisal Inspection Real Estate Market Value 235

Boston Appraisal

FEBRUARY 11, 2024

Introduction Appraising historical properties involves a complex interplay of factors, making it a specialized field within real estate valuation. Leveraging Market Data The appraisal process begins with a thorough analysis of market data, focusing on sales of properties that share historical or antique characteristics.

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Appraisal Renovations Architecture Appraisal Process 147

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. However, oftentimes, it does not. .

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Appraisal Market Value Contracts Agents 266

Appraisal Buzz

MAY 31, 2022

This series of articles explores the role of appraisal review processes in the risk system in the format of mortgage lending for 1-4 family real estate. Throughout, I’ll address current practices and processes of appraisal review, measuring change through observations, and insight as to what is to come. The Appraisal Review.

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