Cleveland Appraisal Blog

JUNE 17, 2022

What’s the difference between a newly constructed home and a hundred-year-old home? 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.

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Cleveland Appraisal Blog

SEPTEMBER 2, 2022

The appraiser will determine which of the values is most appropriate and reflective of demonstrating the market value of the property being appraised. Once this happens, the appraiser will explain which approach to value was given the most weight, or consideration, and why. That’s all I have for this week!

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Housing Wire

DECEMBER 16, 2021

When this article was published, the unemployment rate is at 4.2%, inflation is above 6%, and both stock market and housing market values are elevated. MBA forecasts that the unemployment rate will dip below 4% next year, ending the year at 3.5%. What if it doesn’t?).

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Cleveland Appraisal Blog

DECEMBER 19, 2021

I always enjoy his articles. Adding a small outbuilding is another construction project that is worth considering, especially if you have a larger yard. If you also keep your receipts and take before and after photos, you’ll have an easier time demonstrating the value of the work, making it easier to get top dollar when you sell.

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Boston Appraisal

MAY 17, 2023

The process of determining a property’s market value is called a real estate appraisal. 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.

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Appraisal Partners Blog

JANUARY 20, 2025

Whether you’re buying, selling, or refinancing, an appraisal plays a vital role in determining the true market value of a property. 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.

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Housing Wire

AUGUST 3, 2023

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.

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Simonson Real Estate

DECEMBER 6, 2022

In 2022, Simonson Appraisals completed a steady stream of financing assignments with planned new construction or significant proposed renovations. On several occasions, we were presented information about construction or renovation plans well after the initial assignment was started. Clarify What Value or Values are Needed.

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Cleveland Appraisal Blog

MARCH 4, 2021

There’s value in that. Subsequently, a new home typically has a higher market value than one that has already been lived in. Here are some links to other articles I’ve enjoyed recently! They get to choose the upgrades, the style and layout of the home. Now starts the wear and tear.

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Simonson Real Estate

OCTOBER 23, 2020

The client should be clear that the assessment is performed at a point in time and that the market value opinion is – as of a specific date – the effective date. Since COVID, one key area that takes on heightened importance is our regional and local market analysis section’s current environment. Regional Analysis is Relevant.

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The Robert Weiler Company

SEPTEMBER 16, 2021

The question is, how exactly is property value determined? The following article delves into the “science” of residential and commercial real estate appraisal and discusses the steps to succeed. Cost of construction and materials. And how does the real estate appraisal process work? Floor plans. Neighborhood and location.

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Property Metrics

DECEMBER 18, 2020

In this article we’ll take a closer look at the development spread and walk through an example of how it is used in practice. For example, suppose that after the construction and lease-up of a project, the stabilized net operating income is $100,000 and the total project cost is $1,000,000. What is the Development Spread? Conclusion.

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Appraisal Today

NOVEMBER 1, 2024

Let’s dive into appraising kitchens and how the room impacts market value. Functional Obsolescence and Price Point If a back corner kitchen or a galley kitchen does not align with current market preferences for homes of a similar age, it might be considered outdated and impact marketability.

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CP Home Appraisals

AUGUST 27, 2018

The bulk of the appraiser’s work is focused on market analysis to decide market value based on “assumed” condition of the house. ” Furthermore, having a home inspection report ready for your appraisal will help them accurately value the property without having to “guess” at the overall condition.

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Appraisal Partners Blog

JANUARY 18, 2025

This article will explore the specific challenges, processes, and nuances of commercial appraisals, providing a guide to help you navigate this important aspect of the commercial real estate landscape. This method involves projecting future income, subtracting operating expenses, and then applying a capitalization rate to calculate value.

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McKissock

MAY 10, 2023

Or you were a home inspector and/or are familiar with construction, major components, and mechanicals. We all have skill sets and experience that we can market to potential mentors.” One day, there will be no one to develop an unbiased independent third-party opinion of market value. Article written by Joseph Dobrian.

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Appraisal Today

APRIL 12, 2024

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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Appraisal Today

SEPTEMBER 15, 2023

At the same time, concrete finishes merge various construction techniques and artisan approaches that give the feeling of carved stones, whose volumes and shapes vary, but always integrated harmoniously in these habitable sculptures. Therefore, the final price may not reflect the market value of the property.

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Property Metrics

AUGUST 13, 2020

In this article, we’ll look at eleven types of risk in commercial real estate investment. . A liquid asset is one that can be sold immediately at market value. If an owner had to sell a piece of real estate by the end of the day, chances are that it would be for a price far below market value. Construction Risk.

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McKissock

JANUARY 31, 2023

.” “The definition of market value.” ” “How value is derived.” ” “Why the price per square foot is not an indicator of value.” ” “That cost does not equal value on homes, and picking comparable sales just to hit contract prices is unethical.

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Genworth MI Blog

JUNE 27, 2019

This article first appeared in the June issue of National Mortgage Professional Magazine. . Market Value: In a mortgage appraisal, the appraiser is most likely estimating the market value of the property. Market value has some key elements that we must understand. Will repairs be needed?

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Genworth MI Blog

JUNE 27, 2019

This article first appeared in the June issue of National Mortgage Professional Magazine. . Market Value: In a mortgage appraisal, the appraiser is most likely estimating the market value of the property. Market value has some key elements that we must understand. Will repairs be needed?

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McKissock

MARCH 22, 2022

You must independently determine whether there is sufficient information available to develop a reliable opinion of market value for each individual property. Any improvements should conform to the neighborhood in terms of age, type, design, and materials used for their construction. Consider each home on a case-by-case basis.

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McKissock

OCTOBER 1, 2022

Both you and the underwriter must independently determine whether there is sufficient information available to develop a reliable opinion of market value for each individual property. Any improvements should conform to the neighborhood in terms of age, type, design, and materials used for their construction.

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Appraisal Today

FEBRUARY 16, 2024

This article provides an insight into the appraisal process of historical properties, emphasizing the role of market data, potential buyers, specialized databases, appraisal methods, and the significant impact of preservation restrictions. This is one of the best short articles on residential to commercial.

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McKissock

OCTOBER 23, 2020

Construction faults. These cases often require appraising the damage caused by incorrect construction techniques or similar problems. This could be for estate or probate cases, and often involves determining a retrospective market value if a taxpayer neglected to obtain an appraisal when property was inherited.

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McKissock

JANUARY 14, 2022

The negative impacts on the marketability of residential properties caused by odors from pet dander, feces, and urine can be significant factors in the price a buyer is willing to pay. four-year-old masonry house of well above average quality construction. For example: I had an assignment to appraise a 3,500 sq.

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Empire Appraisal Group

FEBRUARY 9, 2023

One of those guidelines requires building departments to not issue building permits to homes in special flood zones when repair costs exceed 50% of a home’s market value until the property owners raise their homes so that flood waters are less likely to cause damage in the future.

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The Robert Weiler Company

OCTOBER 21, 2022

The short answer: A commercial real estate appraisal is a calculated assessment of value for any type of commercial property. If you’re reading this article, you will likely need a commercial real estate appraisal for property being sold, mortgaged, taxed, insured, or developed.

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Birmingham Appraisal

SEPTEMBER 15, 2022

Banks are typically absolved from discrepancies between the amount they lend and the true market value of the home meaning that they will not be held responsible to the buyer. You can read more about property inspection waivers in a past article I wrote. Appraisal vs Home Inspection. in addition to taking pictures.

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The Robert Weiler Company

MAY 18, 2022

Though, keep in mind that commercial real estate doesn’t always sell at market value. Any construction, upkeep or upgrades, and structural enhancements should have receipts and before and after photos. But you can estimate your ROI based on comparable property sales. Got Questions?

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The Robert Weiler Company

MARCH 15, 2021

Cost approach : This practice compares the special purpose property appraisal value to the cost of constructing a replica structure, while also including depreciation. Their uniqueness makes determining appraisal value difficult, and there’s often a limited buyer pool interested in purchasing such buildings.

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Appraisal Today

APRIL 26, 2024

However, there are six other types of real estate transactions that you need to know about so you can specify these sale types in your appraisal report as they can affect the market value of the property. Therefore, the final price may not reflect the market value of the property. Not sure if you want to subscribe?

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Appraisal Today

JANUARY 19, 2024

For the sake of simplicity, this article touches on merely three such biases: anchoring bias, selection bias, and confirmation bias. Despite what some highly placed authorities in the GSEs mistakenly would have us believe, the contract price, in and of itself, is not indicative of a property’s market value. I was wrong.

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McKissock

SEPTEMBER 10, 2020

Sometimes, particularly in the context of litigation, a potential client or the WUR appraiser will assume market value and value-in-use are the same. Value in use requires considering the business as a going concern. A value-in-use does not represent what the real property may exchange for on the open market.

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McKissock

NOVEMBER 16, 2021

For example, some lending professionals do not understand why a property must be appraised to its “highest and best use” when appraising a property’s market value for lending purposes. Be respectful and constructive in your response. If possible, your response should be detailed, but use simple language. Ask questions.

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Rowe Appraisal Group

MAY 6, 2020

The Starbucks coffee analogy he employs is such a great illustration and I highly recommend checking his article out here ( [link] ) The surprising thing Ryan pointed out, though, is that we often ignore these economies of scale when we make assumptions about the price per square foot of residential property.

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