Remove Blog Remove Home Value Remove Market Value
article thumbnail

The Difference Between Pricing a Property and Appraising It

Cleveland Appraisal Blog

They had to pay twice to have their property valued. Because in both instances, they first had their homes valued by real estate agents, not appraisers. The Sales Comparison Approach uses competing homes to develop an opinion of the market value of the property being appraised. That’s right!

Appraisal 305
article thumbnail

Are Home Buyers Regretting Their Purchase?

Cleveland Appraisal Blog

It’s not lost on me that, to be competitive, a buyer may be asked to waive the home inspection. HOME VALUES AND OVER-PAYING. Some buyers are paying over market value for their homes. In many cases, if they want the home, they may have to do so. In many areas, property taxes can be expensive.

Buyers 243
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Depreciation Works

Cleveland Appraisal Blog

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. There are three basic causes of depreciation for homes. Obsolescence can cause a loss in home value. This is from a home I recently appraised.

article thumbnail

What’s The Leaven Causing Home Prices to Rise Today?

Cleveland Appraisal Blog

Perhaps they were drinking the Kool-Aid that some are drinking today, that market value is whatever the purchase price is. Don’t drink the Kool-Aid that any contract price is reflective of market value. To “think outside of the box” when valuing a property. – Sacramento Appraisal Blog.

Inventory 243
article thumbnail

Savvy real estate agents look beyond ChatGPT

Housing Wire

This data includes comparative home sales and market trend, be unbiased, use machine learning to predict home values from historic trends and identify complex patterns like changing crime rates or school overcrowding and continuously monitor the market in real-time.

article thumbnail

Home Appraisals vs Online Home Value Calculators

D Fritz Appraisals

Home Appraisals and Online Home Value Estimates Are NOT the Same Thing. On-site vs. Online: Proper Home Appraisals Need to be Done in Person. With so many types of transactions solely being handled online these days, it’s tempting to want to complete your required home appraisals entirely online and leave it at that.

article thumbnail

The Appraiser’s Guide to Evaluating Home Value Before You Buy

Birmingham Appraisal

Strategies for Evaluating Home Value: What Buyers Need to Know When it comes to purchasing a home, understanding the various factors that affect its value is important. Evaluating home value is essential in this regard. Key Factors For Buyers to Consider 1.