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Targeting 2025’s 10 Top Housing Hot Spots 

Appraisal Buzz

Areas with a larger share of households entering this age bracket can expect stronger long-term demand for homes, affecting new construction and market stability. NAR expects this to lead to increased construction, with housing starts reaching 1.45 million units.

Inventory 370
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Can a New Construction Sale be Used as a Comp for an Older Home?

Birmingham Appraisal

They wanted to know if it was okay to use a new construction sale as a comp for an older home. The cost approach is most relevant for new or like new construction. It reflects the current cost of construction materials and labor as well as land value. All three approaches are not always used but depend on the property itself.

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Can New Construction Sales be Used in an Appraisal of an Older Home?

Birmingham Appraisal

They wanted to know if it was okay to use new construction sales in an appraisal of an older home. The cost approach is most relevant for new or like new construction. It reflects the current cost of construction materials and labor as well as land value. Comparables need to be similar physically to the subject property as well.

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My Top 11 Tips For Realtors When Choosing Comps

Birmingham Appraisal

3) Use bracketing when choosing comps- The technique of using sales that are larger and smaller than the home you are pricing is referred to as bracketing. Using the living area to describe this technique helps it to be more easily understood, however, bracketing can be used with other features of the home as well.

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The Innovative Future of Foundation Repair

Eppraisal

Other methods involve stabilizing and leveling the concrete surface from below using sturdy brackets or piering systems. Professionals use specialized equipment to pump unique materials underneath the sunken concrete, gradually raising it back into position.

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Are New Homes in Birmingham Getting Smaller?

Birmingham Appraisal

An Interesting Trend Among New Homes As a residential real estate appraiser in the Birmingham, AL market for over 30 years I have seen many changes in new home construction. Additionally, advances in construction techniques have made it more cost-effective to build compact homes that are efficient and eco-friendly.

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Appraisal Comparable Guidelines – What Do Appraisers Look For in Comps?

Realvals

Q1 quality is high-end finishes, custom construction, and professional workmanship. Bracketing. It is always important for an appraiser to try and “bracket” all features of the subject property. Therefore, the lot size is “bracketed.”. Quality refers to the materials used when building and/or remodeling the house.