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Understanding Zillow’s Square Footage is Important!

Cleveland Appraisal Blog

So, first of all, thank you for being here to read articles from my blog! I know most of my readers are interested in appraisal and real estate-related topics. FINISHED SQUARE FOOTAGE On more than one occasion some who have read my appraisal reports felt that my opinion of value was too high. More blogs to come!

Appraisal 405
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Is Your “Crazy” Neighbor Lowering Your Home’s Value?

Cleveland Appraisal Blog

Could being located next to a property that is an eye-sore cause a loss in market value to your home? Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Of course, that’s not the same as market value.

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Zillow Zinged

Cleveland Appraisal Blog

One big one is their Zestimate’s inaccuracy at predicting market value, and more specifically, they were relying on their own Zestimates to make important decisions like buying & selling homes. However, I believe that they’ve put too much value in their “values” Valuation is not their expertise.

Valuation 364
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3 Things An Appraisal Should Tell You That You May Not Know

Cleveland Appraisal Blog

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? That can have a big impact on market value.

Appraisal 353
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The Difference Between Pricing a Property and Appraising It

Cleveland Appraisal Blog

The Sales Comparison Approach uses competing homes to develop an opinion of the market value of the property being appraised. The Income Approach uses potential income to develop an opinion of the market value of a property, when applicable. All three are market-based approaches.

Appraisal 301
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Surprising Things That Can Decrease Property Value

Cleveland Appraisal Blog

However, I have never found that an annoying neighbor really has any impact on market value. I covered this topic in my article, “Is Your Crazy Neighbor Lowering Your Home’s Value.” In 2023, I am going to work on providing some blog posts that focus more on the Cleveland market.

Appraisal 297
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What Is a Reconciled Value?

Cleveland Appraisal Blog

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. – DW Slater Appraisal Blog.