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Savvy real estate agents look beyond ChatGPT

Housing Wire

It is trained on text data and learns to identify patterns from that data to generate human-like text responses. AI models might not account for qualitative aspects like architectural uniqueness, interior design quality or the emotional appeal of a home. ChatGPT uses neural networks to learn from experience.

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What is a Complex Residential Property?

Appraisal Today

If the original owner makes this decision, they would have to pay a 20% penalty over the original value to redeem the land/house. Therefore, a neutral appraiser was needed to estimate its market value, so as to determine the price and penalty. A University of Texas-trained lawyer and activist called Zixta Q.

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Appraising Historical Homes

Appraisal Today

The appraisal process begins with a thorough analysis of market data, focusing on sales of properties that share historical or antique characteristics. This comparative market analysis extends beyond standard parameters like size and location to include age, architectural style, and historical significance. Others are not.

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Paperless Appraisal Office?

Appraisal Today

Get trained 10. Even though the home is now 90 years old, some of its architectural details are much older. Two appraisers may be working to develop an opinion of the market value of the same property. Let’s call the appraiser’s opinion of the property’s market value the cake. Going paperless starts small 8.

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Desktop Appraisals: Who, When, and Why

Appraisal Today

Home equity lines of credit (HELOCs): When homeowners apply for HELOCs, lenders may request desktop appraisals to ascertain the property’s value and determine the credit limit without requiring a full appraisal. Managing Investments: For investors who own multiple properties, desktop appraisals provide rapid updates on property values.

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What Do Appraisers Look For in a Sales Contract?

Appraisal Today

As we get closer to the implementation date, we’ll provide links to training opportunities, so check back often to make sure you’re on track. Goofy Buildings: Revisiting the Heyday of California’s ‘Crazy’ Novelty Architecture – Giant hats, portly pigs, and drive-thru donuts. Answers a lot of appraiser questions. Just For Fun!!

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The Real Estate Price Per Square Foot Dilema

Rowe Appraisal Group

In our Chicago market (as well as many others), the larger homes tend to have higher-end finishes and therefore, higher construction costs. You wouldn’t want to compare a 4500 sq ft newly-constructed home to a basic 1950’s 1200 sq ft ranch or that ranch to a 2000 sq ft 1930’s English Tudor style home with architecturally significant details.