This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
This article is featured in the 2024 edition of the Appraisal Buzz Magazine. Read all these articles and more in the latest edition HERE. First, inspect the site. Financially feasible – Would the proposed use generate enough income to pay for construction costs and make a profit? Level ground or a steep slope?
This article addresses several issues with the real estate appraisal profession that are worthy of further examination and comment. The article accurately notes the lack of diversity in the appraisal profession. The article also addresses a flaw in the current licensing system for appraisers, primarily the supervisor-trainee model.
While most appraisals only require a single field visit—and in some cases none—when it comes to appraising new construction, you may need to visit the property several times. You will also need to conduct a final inspection. Inspection during construction. Related Reading: 6 Tips for Appraising New Construction Homes.
In this article, weve compiled 49 compelling real estate newsletter ideas and subject lines. How about that pest control service you used for your clients termite inspection? So, where do you start? Is a new restaurant coming to town? Be the first to let everyone in your network know about it.
Appraisers often balk at assignments that require a more detailed inspection of the subject property (e.g., ” Do you believe you are acting as a home inspector when you complete a property inspection as part of an FHA assignment? Appraisers perform similar inspections, to one degree or another, in most appraisal assignments.
New Construction Home Buying Tips You asked. here are the best new construction homebuying tips How to buy a new construction house Last week we wrote an article on how to buy a house for first-time home buyers. Also asking, when do you pay for a new construction house? How Do I Buy A New Construction Home?
This week I welcome back guest blogger, Shirley Martin, who answers these questions in this article. Fortunately, you can keep tabs on the timing, progress, and costs associated with the work as it’s completed with construction management software. Thanks so much for being here to read articles from the Cleveland Appraisal Blog!
All of the homes that we have sold recently have sold in the first weekend with multiple offers at $50,000 to $100,000 over list price with no home inspection,” Casey Samson, the leader of The Casey Samson Team, said. This article was originally published in the August/September issue of HousingWire Magazine.
Boost efficiency and safety on construction projects with digital forms Effective collaboration between contractors and subcontractors is essential for the success of any construction project, whether it’s a small residential build or a large commercial development.
Isn’t a home inspection similar to a home appraisal? Not at all – an appraisal differs from a house inspection. Although the home appraiser will complete a rudimentary inspection of the subject property, it will be nowhere near as thorough as what a property inspector does. Do I need a home inspection as well?
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. Like you, as a real estate agent, I have prepared many reports analyzing pricing trends to help provide guidance to buyers, sellers and investors alike.
Embrace digital solutions for enhanced construction project performance In the dynamic world of construction, success hinges on meticulous planning, diligent execution, and effective data management. Understanding the Significance of Data Management Effective data management lies at the heart of every successful construction project.
The person who appraises the property, the appraiser, physically inspects the property to measure it, take pictures of it, and make note of the condition and the quality of the construction. Oftentimes, appraisers face situations where a physical inspection alone may not provide all the relevant data required.
This article will break down the complexities of the appraisal process, providing you with the essential knowledge to navigate this critical aspect of real estate transactions with confidence. Unlike a home inspection, which assesses the physical condition of a property, an appraisal focuses solely on determining its fair market worth.
In this article, I will challenge conventional stereotypes and encourage you to explore manufactured housing as an emerging lending opportunity, positioned ideally for those savvy enough to see with different eyes. All factory-built homes constructed after June 15, 1976 must comply with the HUD Code or local building code.
6 Tips for Appraising New Construction Homes Excerpts: Lenders, FHA, and the GSEs (Fannie Mae and Freddie Mac) treat new construction a little differently. When appraising new construction homes, certain factors that don’t always apply to existing dwellings must be considered. Keep a file of local building costs 4.
Dave Towne, Certified Residential Real Estate Appraiser; owner of Appraiser Education Service, recently wrote an article published in Working RE that discusses some of the differences between the Full, Desktop, and Hybrids as well as questions around them. Tools for Desktops/Hybrids. Ineligible Transactions. What about foul odors?
“…if you the appraiser are not required to inspect the property yourself, don’t you want to have a more detailed diagram of the home, i.e., a Floor Plan?” There’s been lots of discussion on various forums, classes, Facebook, blogs, podcasts, surveys, articles, etc., Here’s why: for new construction, when the plans (blueprints) are.
In some ways, a commercial real estate construction project is just like any other project. However, a commercial real estate construction loan is not like other loans. What is a Construction Draw Schedule? The construction draw schedule determines how and when construction loan funds are distributed.
Recently we wrote an article on 10 simple steps to buying a home in Raleigh, NC, and one for Huliq.com, in which we tackled some of the common things buyers must consider, and we wanted to address this important topic with our LOCAL audience here in Raleigh, NC. Home inspections This should be a necessity for anyone who is buying real estate.
In this article, I will explain the history of AI, the projected financial impact on real estate and the cutting-edge tools available today for savvy agents. Geoff Hinton, a professor at the University of Toronto, and two students, constructed a viable neural network. The good news is that the early adopters will thrive.
Whether you are a first-time home buyer or you're buying again, you will want to know how Due Diligence and Earnest Money impact you as a buyer or seller in North Carolina The following article is going to be regarding Due Diligence, Due DIligence fees, and Earnest Money in North Carolina Real Estate.
The share of new construction homes on the market rises to a record high. One-third of houses for sale are new construction, an all-time high. single-family homes for sale in December were new construction, up from 25.4% single-family homes for sale in December were new construction, up from 25.4% Read the full report.
In their March 2022 article, Bubble burst risk: Canadian home prices predicted to fall by 24% , Urbanized.com states that the accumulated gains from 2020-2022 are not sustainable. In their article ‘ Will housing prices ever drop! Opinions differ on what difference this will make to house prices though. agrees with this prediction.
The ranch dates to the late 1800s, and its multiple properties include a 4,980-square-foot lakefront home with a waterside cabana, an under-construction 7,713-square-foot architect-designed residence and a number of cabins. Many people confuse us with real estate agents.
You can read more about property inspection waivers in a past article I wrote. Appraisal vs Home Inspection. As a new homeowner, you might be confused about the differences between an appraisal and a home inspection. Home inspections are normally regulated by the state. in addition to taking pictures.
In this article, I will challenge conventional stereotypes and encourage you to explore manufactured housing as an emerging lending opportunity, positioned ideally for those savvy enough to see with different eyes. All factory-built homes constructed after June 15, 1976 must comply with the HUD Code or local building code.
“Subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed,” if the property is under construction. When examination of existing construction reveals non-compliance with MPR, you (the appraiser) must: Note the repairs necessary to make the property comply.
” “There is a lot of research and number crunching to do, so asking for a value at time of inspection is a no go.” ” “When to use new construction or remodeled construction as a comparable.” Educate yourselves on construction details and styles of homes. Exaggerating isn’t cool.
Dave Towne, Certified Residential Real Estate Appraiser; owner of Appraiser Education Service, recently wrote an article published in Working RE that discusses some of the differences between the Full, Desktop, and Hybrids as well as questions around them. . Tools for Desktops/Hybrids. Ineligible Transactions. What about foul odors?
Constructing a real estate offer is an art. In order to reach an acceptable agreement with the most favorable terms, make sure your buyers are aware of the market and the most important factors when constructing an offer. Timeliness and types of inspections. Inspections. Making an offer. Number of days on market.
Companies that rely on field technicians, such as those in utilities, construction, and maintenance services, often face communication, data management, and resource allocation challenges. These forms can be customized to suit the specific needs of the operation, from inspection checklists to customer feedback surveys.
I am working on an article on Hybrid Appraisals for the November issue of Appraisal Today. To me, the big issue is who is doing the inspections. Most of the inspection training we receive as appraisers happens in the field. Inspection training was very good. Not very positive. I was surprised at how negative they were.
We will discuss the three contingencies that you’ll see, which are appraisal, inspection, and loan. So, the buyer will pay for an appraiser to inspect and write a report on the home’s value. What is an Inspection Contingency? A general inspection contingency is to understand the home’s structural integrity.
By Kevin Hecht Excerpts: When to Use the Cost Approach There are circumstances when its necessary to use the cost approach, for example, unique properties and new construction. To read more, Click Here My comments: When I saw the article topic I thought it would be boring. This article explains when and why.
Desktop Appraisals: Who, When, and Why Excerpts: The ability to identify property characteristics without a personal inspection is not a new concept. To read more, Click Here To see the listing with 40 photos Click Here = Can a New Construction Sale be Used as a Comp for an Older Home? baths, 14,450 sq.ft.,
Almost one-third of new warehouse space for lease is snatched up before the construction project is complete. Renters are outpacing the construction of industrial units and warehouses. If you’ve landed on this article, kudos! office, inspection station, docking)? Research the landlord. Who are you dealing with?
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.
NOTE: Please scroll down to read the other topics in this long blog post on USPAP and Personal Inspection, GSE Appraisal Modernization, Transaction costs and values including real estate commissions, unusual homes, mortgage origination stats, etc. = USPAP does not require use of the specific term “personal inspection”. Answer: No.
“I have a background in construction and have been a business owner in the construction industry.” I use the iPad to do inspections. ” “My extensive physical inspection background includes completing property inspections for the insurance industry. Background or perspective.
An assessor may contract with an independent fee appraiser to help identify property characteristics, measure properties, confirm the building’s condition and quality of construction, or review assessment disputes from taxpayers. These types of assignments typically require specialized training and certification.
Personal Inspection I recently completed an appraisal on a residential dwelling for Lender A that sells loans to Fannie Mae and Freddie Mac and the report was completed on a GSE form. Lender B indicated there wasno need for me to re-inspect the home, since my previous inspection date was only a few days earlier.
Quality refers to the quality of items, materials, and construction. You are going to use shared databases, as well as your own observations and inspections—which are an excellent source. Quality and condition are not the same. Here are some basic things to consider regarding quality adjustment research and methodology.
We organize all of the trending information in your field so you don't have to. Join 9,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content