Cleveland Appraisal Blog

JANUARY 19, 2023

For example, a residential property with a one-car garage in a market that expects similar homes to have a two-car garage (known as an underimprovement) or too many expensive amenities for its location (known as an overimprovement or superadequacy) is out of balance.” So one buyer may pay more for the same home than another.

Appraisal 288

Appraisal Transportation Buyers Property Appraisal 288

Cleveland Appraisal Blog

APRIL 11, 2023

With the massive amount of technology available to anyone who can access the internet, you might wonder why bother getting a real property appraisal? Slap a few sales in a report, and make a few guesstimate adjustments to come up with their opinion of a property’s value? Isn’t that all that appraisers do?

Appraisal 358

Appraisal Market Value Legal Property Appraisal 358

Cleveland Appraisal Blog

SEPTEMBER 2, 2022

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. I hope you’ve been enjoying their articles! That’s all I have for this week!

Appraisal 342

Appraisal Development Valuation Market Value 342

Housing Wire

NOVEMBER 30, 2023

We’ll help you make an informed decision and find the right Chicago real estate classes or online program to best fit your budget, timeline, learning style and schedule. Covers real estate math, concepts, brokerage, real property, contracts, appraisal, updated TILA/RESPA information & more. Self-paced.

Real Estate 448

Real Estate Realtors Real Estate Agent Law 448

Housing Wire

OCTOBER 9, 2023

What’s more, Illinois has reciprocity agreements with nine other states, making it an excellent location for starting an exciting, new career in real estate. There are certain differences between being a real estate professional in Illinois and other states, which we’ll look at in this article.

Real Estate Agent 448

Real Estate Agent Real Estate Agents Brokerage 448

Simonson Real Estate

SEPTEMBER 25, 2020

I was joined on the panel with Twin Cities appraiser, Josh Folland, MAI, CCIM with Valbridge Property Advisors and Gary Van Cleve, Shareholder at Larkin Hoffman moderated our discussion. Commercial Real Estate Appraisal and Valuation in the Time of Covid-19: What Is the New Normal? About the Authors.

Valuation 130

Valuation Appraisal Marketing Real Estate 130

McKissock

SEPTEMBER 20, 2021

To help you out, we’ve put together an overview of Articles 1–13, as well as links to helpful case examples. Keep reading to learn how to improve real estate risk management, and avoid getting into trouble with the law, by putting your clients’ interests first. Overview of NAR Code of Ethics: Articles 1–13.

Real Estate 58

Real Estate Clients Real Estate Agent Realtors 58

McKissock

DECEMBER 28, 2021

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.”. Article written by Joseph Dobrian.

Appraisal 96

Appraisal Reconsideration of Value Real Estate Property Appraisal 96

McKissock

SEPTEMBER 14, 2021

Free Download: Learn how to become a real estate appraiser in our free guide. Every piece of real property, from a two-bedroom condo to a 500-acre alfalfa farm, has a value. The nuts and bolts of appraising a property can include: Researching county and municipal public property records.

Real Estate 92

Real Estate Appraisal Inspection Real Property 92

McKissock

APRIL 30, 2021

Additionally, it requires that the buyer and seller are not acting out of undue haste or duress and that the real property has been exposed on the market for a reasonable period of time. A Real Estate Owned (REO) transaction is a sale of a home that has been foreclosed and the lender is the owner/seller of the home.

Market Value 88

Market Value Real Estate Appraisal Sellers 88

Lamacchia Realty

MARCH 1, 2023

theme park Epic Universe in the next couple Outbound states to FL New York in 2022 experienced a “staggering exodus” as more residents, 67,577 to be exact, left for sunny Florida than any other year in history, according to a New York Post article. Stated the Atlantic in a recent article.

Business 78

Business Government Realtors Buyers 78

Appraisal Today

SEPTEMBER 20, 2024

percent from one week earlier Appraised Value Vs. Sale Price Excerpts: Property sellers often ask professionals who are performing appraisals for mortgage lending, “Why is an appraisal even needed? The buyer and I have already agreed on a sale price.” With over 16,000 members, AI is the largest real property professional association.

Appraisal 77

Appraisal Business Contracts Real Estate 77

Appraisal Today

SEPTEMBER 22, 2023

I am working on an article on Hybrid Appraisals for the November issue of Appraisal Today. Using MLS photos is a joke, as real estate agents don’t take photos of defects. A buyer gets a seller’s disclosure statement for that information. To read more, click here My comments: Now we know what NAR members think about it.

Appraisal 90

Appraisal Training Inspection Real Estate 90

McKissock

AUGUST 11, 2020

Such an act might appear to make everybody happy, e.g., the lender/client gets to make a loan, the real estate agent gets a commission, the buyers get the house, etc. To learn more about what happens if you do end up getting a complaint filed against you, read my article: How Are Appraisal Complaints Enforced?

Appraisal 64

Appraisal Clients Real Estate Law 64

Appraisal Today

APRIL 1, 2023

To read more, click here My comments: This is an excellent article on this topic. This statement definitely applies in the appraisal of real property. They gave me many of the tips in my article. The judge, however, will do whatever s/he chooses to do,” reports Andersen. Read it to find out the issues. Sometimes it is.

Appraisal 52

Appraisal Business Marketing Mortgage 52

McKissock

JUNE 21, 2022

Among the rights that come with real property ownership is the right to exclude others. When oceans, lakes, bayous, estuaries, rivers, streams, and ponds are involved, this right is a large part of what property purchasers are paying for. Final thoughts on the topic.

Appraisal 88

Appraisal Investors Legal Development 88

McKissock

SEPTEMBER 10, 2020

Again, an appraiser looking to specialize in these property types, should become very familiar with the ongoing litigation related to properties with intangibles. Special purpose property tips. Before you accept a review appraisal assignment for a special purpose property, here are some tips to guide your decision: 1.

Appraisal 54

Appraisal Valuation Real Estate Design 54

Appraisal Today

DECEMBER 2, 2022

In a July 9, 2015, Concept Paper – Alternate Track to the Experience Requirements in the Real Property Appraiser Qualification Criteria, the AQB asked: “Are there practical alternatives for some (or all) of the appraisal experience requirements to include non-appraisal experience?”. Appraisers are real estate reporters.

Appraisal 85

Appraisal Agents Real Estate Real Estate Agent 85

McKissock

AUGUST 13, 2021

Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them. A key element in classic fraudulent transactions is getting an appraisal that overvalues the property.

Contracts 64

Contracts Appraisal Market Value Real Estate 64

Appraisal Today

JULY 12, 2024

I have always been a professional appraiser since I started in 1975, trained at an assessor’s office to do what is in this article. At the center lies this crucial inquiry: Are only essential requirements included in the Real Property Appraiser Qualification Criteria? After graduation, I worked in labs for 7 years.

Appraisal 71

Appraisal Design Contracts Business 71

Appraisal Today

AUGUST 9, 2024

Understanding Market Value Market value is the most frequently sought value in real property appraisals and can have various definitions. Most often, it is defined as the most probable price a property should sell for under typical conditions. It is the best article I have read on different types of values, plus other comments.

Appraisal 70

Appraisal Reconsideration of Value Insurance Market Value 70

Appraisal Today

SEPTEMBER 1, 2023

In March 2022, Bloomberg News published an article entitled “Wells Fargo Rejected Half Its Black Applicants in Mortgage Refinancing Boom.” After publication of the article, a half-dozen class actions were filed swiftly against Wells Fargo by Black and Hispanic borrowers who had been denied loans.

Appraisal 82

Appraisal Contracts Mortgage Real Estate 82

Appraisal Today

JUNE 24, 2022

Among the rights that come with real property ownership is the right to exclude others. When oceans, lakes, bayous, estuaries, rivers, streams, and ponds are involved, this right is a large part of what property purchasers are paying for. A few of my articles: Should you do non-lender work? Links in article.

Appraisal 52

Appraisal Contracts Mortgage Easement 52

Appraisal Today

JULY 5, 2024

This likely has to do with the cost of building a pool, cost of maintaining a pool, and even larger parcels at higher ranges – not to mention buyers at higher price points expecting a pool more often. In other words, we can’t just apply one figure to a property because that number isn’t going to make sense everywhere.

HOA 68

HOA Appraisal Real Estate Contracts 68

Appraisal Today

APRIL 2, 2023

Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them. I have seen articles from all over the world about groups living in caves in the distant past.

Contracts 52

Contracts Appraisal HOA Architecture 52

Cleveland Appraisal Blog

MAY 26, 2022

I wanted to see what slant potential buyers might take on the situation. After interviewing several agents that had sold homes that were adjacent to the property I was appraising, I found a comparable sale that had sold a few years back with a similar tilt. Here are some links to other articles I’ve enjoyed recently!

Appraisal 243

Appraisal Inspection Construction Marketing 243

Appraisal Today

FEBRUARY 21, 2025

Lets revisit the basics: In an H&BU analysis, real estate appraisers determine the most probable use of a property by applying four tests: whether the use is legally permissible, physically possible, financially feasible, and maximally productive. This article is an excellent reminder. Not sure if you want to subscribe?

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Appraisal Today

SEPTEMBER 9, 2022

®’s data team has scoured the country to pinpoint where buyers can find the best deals on oversized abodes. If this article helped you understand Estate appraisal liability from an Expert, it is worth the subscription price! As usual, in a real estate appraiser’s life, USPAP is always important. For example, i-buyers.

Reconsideration of Value 52

Reconsideration of Value Appraisal Clients Contracts 52

Appraisal Today

OCTOBER 27, 2023

Nearly one-third of prospective buyers (32%) say the same if the home were in their desired location. My small city has online articles about all the haunted homes and other buildings, plus a World War II aircraft carrier. Search for “Your City” haunted locations, and you will probably find articles.

Property Appraisal 75

Property Appraisal Appraisal Business Contracts 75

Housing Wire

DECEMBER 2, 2024

This article introduces a three-part series that will highlight some of the risks associated these market movements and explore how legal counsel can add value by creating safeguards, mitigating risk, yet still move the deal forward creating a balance where counsel is a “deal maker”, not a “deal breaker” except when absolutely necessary.

Mortgage 397

Mortgage Legal Sellers Business 397

Appraisal Today

NOVEMBER 29, 2024

This also opens the door for pushback on related changes, such as the expansion of the Nondiscrimination rule of the Uniform Standards of Professional Appraisal Practice, or the addition of valuation bias education to the Real Property, to the extent that either of these would include content that goes beyond what exists in statute already.

Appraisal 80

Appraisal Business Contracts Real Estate 80