Housing Wire

JULY 8, 2024

An historic home in Chicago ’s Austin neighborhood designed by architect Frank Lloyd Wright in 1903 is in serious need of repairs and renovations, but an existing reverse mortgage loan is complicating the process of initiating the work. A couple purchased the home in 1969, but took out a $189,000 reverse mortgage on the property in 1997.

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Mortgage Design Architecture Market Value 320

Cleveland Appraisal Blog

SEPTEMBER 3, 2021

(MLS) We use it to find homes that are comparable to the ones we are valuing, to determine what buyers are paying for similar homes. I have read some comments in the MLS, that state that a home had been completely renovated. However, when I looked at the photos, the home may have not been renovated.

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Agents Appraisal Renovations Development 373

Housing Wire

MAY 21, 2024

Meanwhile, the average winning bid relative to after-repair value has been rebounding nationwide after a short-lived dip at the end of 2023 — both for foreclosure auctions and for REO auctions. The after-repair value is the estimated market value of a property in fully repaired condition. in Q1 2023. and up from 56.8%

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Marketing Investors Real Estate Investing 456

Cleveland Appraisal Blog

NOVEMBER 11, 2021

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. This home has also been renovated in recent years. What is the Market Value in ‘Market Value’?

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Valuation Market Value Appraisal Real Estate 364

Cleveland Appraisal Blog

MARCH 30, 2021

So many visitors have stopped by over the years, that they renovated the area to make it more visitor friendly, with better parking and a nicer observation area. TODAY’S HOME BUYERS ARE LIKE THE CARP. This fish phenomenon reminds me of the housing market today. It is free to visit. That is a lot of bread!

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Housing Market Marketing Reconsideration of Value Contracts 367

Cleveland Appraisal Blog

AUGUST 11, 2022

For some homeowners, extensive renovations can present a challenge in terms of time and finances, particularly if you plan to move out of your home soon. In that case, potential buyers will lay down an ‘as-is’ offer, which means they will acquire the home in its current condition. Buyers may walk away from the purchase.

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Renovations Buyers Appraisal Investing 221

Birmingham Appraisal

MAY 1, 2024

Home Renovations and Appraisal Value As an appraiser, I get asked about how much value will be added for different types of home projects or renovations. The best way to look at home renovations is by considering the overall impact they will have on your home. Updates or Renovations?

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Renovations Appraisal Real Estate Agent Construction 86

Housing Wire

AUGUST 15, 2022

HELOCs also are popular because the interest on the loans is tax deductible if the funds are used for approved home renovations. Equity rich, as defined by ATTOM, means that all debt balances secured by the property represent no more than 50% of the property’s estimated market value. We’ll probably trade a little over $1.2

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Lending Home Value Mortgage Renovations 452

Cleveland Appraisal Blog

JUNE 25, 2021

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. Physical depreciation is the most common cause of loss of value. Even if they are completely renovated, they are still not considered to be new. In a word, depreciation.

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Market Value Appraisal Marketing Buyers 244

Cleveland Appraisal Blog

DECEMBER 10, 2022

As a certified residential appraiser, I can tell you that while some of the things noted in this report can decrease value, they may not, so take these points with a grain of salt. I can tell you that some buyers will certainly agree with these points! Potential buyers may be put off by a home that is carpeted from floor to ceiling.

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Appraisal Buyers Renovations Investing 297

Boston Appraisal

FEBRUARY 11, 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. However, it may lack the historical significance that often adds value to preserved properties.

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Appraisal Renovations Architecture Appraisal Process 147

Cleveland Appraisal Blog

JUNE 17, 2022

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. Buyers gaining power & farewell real estate honeymoon – Sacramento Appraisal Blog.

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Appraisal Development Market Value Tenants 279

Housing Wire

JUNE 7, 2024

Listings are the life-blood of all successful real estate businesses, but making the leap from working primarily with buyers to working with sellers can be a challenge for many agents early in their careers. This is a good strategy for agents who are looking to work with buyers as well as sellers. Who’s it for? Who’s it for?

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Real Estate Open Houses Agents Sellers 451

Cleveland Appraisal Blog

JUNE 18, 2022

Becoming an expert appraisal witness in an eminent domain case starts with developing a comprehensive understanding of how value is determined in this special proceeding. While most states allow fair market value to be established using traditional appraisal approaches (e.g.

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Appraisal Law Development Valuation 309

Boston Appraisal

NOVEMBER 6, 2020

The home had been recently renovated and was in great condition. The primary reason appraisals differ is because, in reality, real estate appraisals are designed to provide a range of value rather than one set price. buyer needing to sell their house first); but generally speaking, all the offers should be within 10% of each other.

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Appraisal Market Value Real Estate Sellers 148

Eppraisal

MARCH 5, 2024

Home renovations can completely transform your living spaces, turning outdated rooms into modern, functional areas that reflect your style and meet your needs. In addition to the joy and comfort these changes bring into your daily life, renovations can also significantly increase your home’s market value.

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Renovations Modernization Market Value Investing 36

D Fritz Appraisals

MAY 13, 2024

Whether selling a cozy condo in the heart of downtown or a sprawling estate in the countryside, having a checklist to sell a house is essential to organizing yourself, maximizing your home’s value, and appealing to potential buyers. Selling a home can be exciting and daunting, but with the proper guidance and preparation (i.e.

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Real Estate Buyers Sellers Appraisal 119

Realvals

JUNE 18, 2023

And third, to prove your property’s worth to potential buyers. They will also analyze local market trends, recent comparable sales, and any unique features your property might have. Armed with this information, you’ll be able to set a competitive price that will attract buyers and maximize the sale.

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Appraisal Property Taxes Real Estate Market Value 145

Appraisal Hub

OCTOBER 16, 2024

A property appraisal is a detailed evaluation of your home’s market value conducted by professional appraisers. Appraisal companies use their knowledge of the local market and factors like size, location, and condition to accurately estimate what your home is worth today. What is a Property Appraisal?

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Property Appraisal Appraisal Renovations Market Value 78

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. Unlike a home inspection, which assesses the physical condition of a property, an appraisal focuses solely on determining its fair market worth. They will be aware of any deficiencies.

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Appraisal Inspection Valuation Appraisal Process 78

Eppraisal

JUNE 18, 2024

Last week we published a post on the type of renovations one needs to make before selling their 20-25 year old house. ●      Home price expectations: Understand your sale price expectations. ●      Market condition: Consider how quickly properties sell in your area.

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Renovations Real Estate Agent Investing Buyers 68

Birmingham Appraisal

MAY 21, 2024

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.

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Home Value Architecture Renovations Real Estate 73

Appraisal Partners Blog

JANUARY 31, 2024

Whether you are purchasing a home, looking to refinance, considering a home improvement, settling an estate, or divorce, We’ll he­lp you determine your home’s fair market value. Here are some key advantages: Fair Market Value Through an appraisal, the genuine marke­t value of a house is figured out.

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Appraisal Property Appraisal Market Value Real Estate 78

Lamacchia Realty

AUGUST 12, 2021

Fixer-uppers tend to be popular among real estate investors as well as first-time homebuyers as they present an opportunity to buy below market value. By making updates, the buyer is able to meet or exceed current market standards and build equity in their property faster. How Much Time Do They Take to Renovate?

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Renovations Finance Inspection Buyers 68

The Robert Weiler Company

MAY 18, 2022

The ROI is calculated by comparing the total cost of the investment (including the initial purchase price plus any other expenses) to its current value or sale price. Though, keep in mind that commercial real estate doesn’t always sell at market value. What a great selling point to a potential buyer!

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Real Estate Tenants Retail Investing 148

McKissock

OCTOBER 12, 2021

For many different reasons, properties can come on the market in less-than-par condition. The degree and cost to cure becomes an issue to buyers and sellers, and a challenge for appraisers. At some point it’s no longer “normal market value minus cost to cure equals as-is value.” Who might buy it?

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Appraisal Market Value Investors Buyers 84

The Robert Weiler Company

SEPTEMBER 16, 2021

Now consider the buyer of a residential property, typically an individual looking for a place to call home. The most critical factors for commercial property investors are not the same as the typical home buyer. Explanation of potential risks you may face or negative aspects that may impact the market value of the commercial property.

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Real Estate Appraisal Property Appraisal Valuation 147

Berkshire Hathaway

AUGUST 30, 2022

Are you looking for a move-in ready rental property or are you willing to consider a home that requires renovations? Besides the purchasing price, your budget should also include other costs such as renovations, structural and environmental assessments, downtime during transitions, legal fees, realty commissions, taxes, and contingencies.

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Buyers Legal Fees Real Estate Renovations 49

Cleveland Appraisal Blog

MARCH 4, 2021

That usually appealing to many home buyers. There’s value in that. Subsequently, a new home typically has a higher market value than one that has already been lived in. Let’s think about a home that was just built and never lived in. A brand-new home has a certain type of appeal. It has never been lived in.

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Appraisal Real Estate Real Estate Agent Loan Conditions 222

Glascock Company

DECEMBER 11, 2020

There is less wiggle room because auctions motivate buyers to act quickly — plain and simple. Sellers choose the auction date, and it typically ends in a market-value return on the date set for bidding (usually around 30 days or less). Buyers Purchase Property For Sale As-Is. Buyer Pays All Real Estate Commissions.

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Sellers Inspection Real Estate Buyers 78

Realtor

MAY 10, 2018

If one sibling wants to keep the home, he or she can buy the others out for their share of the home’s fair market value. Real estate agent and attorney Bruce Ailion with Re/Max Town and Country in Atlanta advises siblings to have a discussion to decide what condition to sell the house in— as is or renovated.

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Real Estate Agent Renovations Real Estate Agents 85

D Fritz Appraisals

MARCH 16, 2021

The benchmark for your home’s worth, an appraisal is a legal document that determines the fair market value of a property. Any known inconsistencies with data – if your assessed property value has been fluctuating wildly over the years, this needs to be looked at. This will help ensure a fair market value.

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Appraisal HOA Easement Valuation 129

East Coast Appraisal

AUGUST 11, 2022

Home Appraisal Is Only Beneficial to the Buyer. Many home sellers shy away from property appraisal because they believe the process only caters to the buyer's needs. However, property appraisal benefits both the buyer and the seller. For the buyer, a home appraisal protects them from overpaying for a property.

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Real Estate Appraisal Renovations Market Value 52

Birmingham Appraisal

JUNE 21, 2023

Appraisals provide an objective assessment of a property’s worth, ensuring accurate market value and facilitating successful transactions. Condition: The overall condition of a property, including its structural integrity, maintenance, and any necessary repairs or renovations, affects its appraisal value.

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Real Estate Agent Real Estate Agents Appraisal 82

Realtor

DECEMBER 15, 2016

AndreyPopov/iStock Buying real estate often requires some serious haggling between home buyer and seller, to arrive at a price that they’re both willing to accept. If you’re a buyer who needs a mortgage , most lenders will require that you obtain a home appraisal. What appraisers do. How appraisals affect the sale.

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Appraisal Real Estate Agent Real Estate Mortgage 78

Realtor

DECEMBER 15, 2016

AndreyPopov/iStock Buying real estate often requires some serious haggling between home buyer and seller, to arrive at a price that they’re both willing to accept. If you’re a buyer who needs a mortgage , most lenders will require that you obtain a home appraisal. What appraisers do. How appraisals affect the sale.

Appraisal 78

Appraisal Real Estate Agent Real Estate Mortgage 78

Round Rock Appraisal

MARCH 28, 2015

An appraisal of property serves the benefit of both the seller and the buyer. This not only makes sure the price listing for the property is fair but also to insure the buyer isn’t overpaying. Cash buyers are not looking into financing, but caution is still be practiced. Home values are affected by these situations.

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Buyers Appraisal Renovations Property Taxes 36