Appraisal Buzz

DECEMBER 9, 2024

Market Condition Adjustments Illustration Fannie Mae guidelines emphasize that adjustments made to comparable sales are based on market changes between the contract date of the comparable sales and the effective date of the appraisal. This is shorthand that every experienced appraiser knows and understands please dont @ me.

Appraisal 358

Appraisal Marketing Valuation Tools 358

Cleveland Appraisal Blog

OCTOBER 14, 2021

Recently, some of my well-intentioned clients have asked if it is possible to appraise a home, based upon a “normal market”. On many of my appraisals at that time, my opinion of value would not support the contract price. Don’t drink the Kool-Aid that any contract price is reflective of market value.

Inventory 243

Inventory Market Value Appraisal Contracts 243

Walitt Solutions

MAY 24, 2024

One of those common scenarios goes like this: I completed an appraisal and transmitted the appraisal report to the client for a purchase appraisal. My market value conclusion came in below the purchase contract price. The client wants me to change my report to show the new amended contract price!

Contracts 74

Contracts Appraisal Clients Market Value 74

McKissock

DECEMBER 14, 2021

On the way he needed to drop off an appraisal report to a lender client. He handed the report to his client who quickly turned to the bottom of page two, and said: “Wow Ben, I was sure this one would have come in at least $20,000 higher.” So, it’s that darned old market that determines what the market value is.

Market Value 80

Market Value Marketing Property Appraisal Appraisal 80

Cleveland Appraisal Blog

SEPTEMBER 30, 2022

This first section of the report discusses some of the positive and negative aspects of a neighborhood that may impact market value. Is there anything about the improvements that would positively or negatively impact its market value? Appraisers look at homes that have sold, that are listed, and those under contract.

Appraisal 346

Appraisal Market Value Development Clients 346

McKissock

JULY 6, 2022

The reality, however, is many agents struggle to properly set and manage the client’s expectations of how the chaos is going to work and how the process is going to play out. Managing client expectations is critical, and sadly, often overlooked as part of the agent/client relationship. As agents, we know better.

Clients 87

Clients Real Estate Contracts Real Estate Agent 87

Cleveland Appraisal Blog

MAY 26, 2023

In recent years, on several occasions, I have been hired to appraise a property after a valuation service was provided for my client by another real estate professional. They had hired the former real estate professional to value their property for the purpose of a divorce. All three are market-based approaches.

Appraisal 305

Appraisal Real Estate Agent Real Estate Valuation 305

McKissock

AUGUST 13, 2021

Why must an appraiser be given a copy of the sales contract? Secondly, the appraiser is likely familiar with the local real estate contract forms, customary terms, and conditions of real estate transactions in the area, and might be able to identify irregularities and comment on them. When should we analyze the contract?

Contracts 64

Contracts Appraisal Market Value Real Estate 64

McKissock

MARCH 2, 2021

Here are five excellent resources offered by McKissock Learning—including a Pro-Series webinar on Wednesday, March 17, 2021, “ The Market Value Doesn’t Support the Contract Price, Now What? ”. Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Sign up now.

Appraisal 103

Appraisal Contracts Market Value Clients 103

GoForrmz

JANUARY 16, 2025

Stay competitive in 2025 with essential digital tools for construction businesses The construction industry is projected to reach a global market value of $14.4 Electronic signature tools allow construction businesses to speed up the signing process for contracts and other critical documents while maintaining legal compliance.

Tools 78

Tools Construction Business Project Management 78

Simonson Real Estate

JULY 10, 2020

The understanding here is the tenants could vacate and a more reliable value is provided by the fee simple analysis based on market rents. When a property has longer-term leases in place, even at market rates and terms, the interest appraised is typically leased fee. Value Scenarios. Prospective Values.

Appraisal Process 148

Appraisal Process Appraisal Market Value Tenants 148

Listing Spark

JANUARY 5, 2025

Check online reviews : Read reviews from past clients to get an idea of an agents reputation and level of service. Interview potential agents : Meet with several agents to discuss your needs, their experience, and their marketing strategies. Make sure the buyer has received any required documentation prior to contract execution.

Sellers 69

Sellers HOA Real Estate Agent Contracts 69

McKissock

JULY 27, 2021

Many survey respondents emphasized the importance of making sure your work is as detailed and well-supported as possible—by means of careful comparable selection and analysis, thorough documentation, and clear explanation of why the available comps do not support the contract price. ” “Market analysis and illustrations.”

Appraisal 109

Appraisal Contracts Clients Marketing 109

Birmingham Appraisal

JUNE 13, 2023

I believe that appraisers and agents have a common goal: to help their clients buy or sell a home. This can create challenges for both agents and appraisers, especially when it comes to determining the market value of the property. These factors can create a bidding war that inflates the price beyond what the market can support.

Real Estate Agent 87

Real Estate Agent Real Estate Agents Reconsideration of Value 87

Cleveland Appraisal Blog

MARCH 18, 2021

Therefore, my opinion of value was in the mid-sixties, which was far below the contract price. I could not find a single sale that supported an opinion of value anywhere near the purchase price. My market analysis was reflective of what was taking place in that neighborhood as of the date of the appraisal.

Appraisal 195

Appraisal Investors Market Value Contracts 195

The Robert Weiler Company

SEPTEMBER 16, 2021

Second, the motivation to look at the value of a property will be for entirely different purposes. Consider the client who is purchasing commercial property for sale. The client could be an individual or company looking to invest in real estate. Independent and not contracted with any third party, institution, or broker.

Real Estate 147

Real Estate Appraisal Property Appraisal Valuation 147

McKissock

JUNE 8, 2021

In this case, he was also the client. He ordered appraisals from three different appraisers, and the purchase price was to be the average of the three value opinions. She threatened to turn me in to the State because she said: “It’s against the law for two different appraisers to have different value opinions.”

Appraisal 73

Appraisal Contracts Clients Law 73

Appraisal Today

AUGUST 30, 2024

August 30, 2024 What’s in This Newsletter (In Order, Scroll Down) New AMC client. AI Appraisals: Embracing the Future Appraisal 5 Enormous Mansions, With Wildly Different Architectural Styles—Priced at Under a Million Bucks Is appraisal accuracy measured by contract price? Again, I ask, does contract price equal market value?

Appraisal 80

Appraisal Contracts Architecture Mortgage 80

Birmingham Appraisal

NOVEMBER 20, 2024

The bottom line is that while a Zillow Zestimate or any other AVM model may give you a 20,000-foot view of the general price range of a property, an appraisal performed by a live person provides a more focused and accurate estimate of the home’s value that can be used to make an informed loan or purchase decision.

Real Estate 91

Real Estate Appraisal Inspection Contracts 91

The Robert Weiler Company

APRIL 20, 2021

They are: (1) the asset-based approach; (2) the earning value approach; and (3) the market value approach. The key is to apply the optimal approach for each business, based on the business’s capital structure, management, prospective future earnings, and market value. The market value approach.

Valuation 147

Valuation Business Buyers Market Value 147

Dart Appraisal

APRIL 22, 2021

Dart Appraisal’s team of reviewers often encounters what appears to be a common misunderstanding about which portion of an estate should be valued when a client or intended user request an appraisal report: The Fee Simple Estate or the Leased Fee Estate. LEASED FEE ESTATE.

Tenants 67

Tenants Market Value Clients Landlords 67

Birmingham Appraisal

SEPTEMBER 26, 2023

The market area that the property is located in can definatley support the price but does the price truely reflect the market value of that specific property or does it reflect what a super motivated buyer with available funds is willing to pay? This approach provides valuable context for clients 3. There is a difference.

Real Estate Agent 94

Real Estate Agent Real Estate Clients Agents 94

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.

Real Estate Agent 97

Real Estate Agent Real Estate Agents Appraisal 97

Simonson Real Estate

DECEMBER 6, 2022

We’re grateful to work across several states and with so many great clients! We believe it’s important for appraisers to communicate with their clients to avoid surprises and ensure the appraisal process is as smooth as possible. Clarify What Value or Values are Needed. Lenders, what’s in it for you?

Appraisal Process 78

Appraisal Process Real Estate Appraisal Renovations 78

Appraisal Today

APRIL 1, 2023

I tend to put a similar amount of effort into the communication side for all clients, and like to think that my work product is solid. Get the relevant date of value from the client or the client’s attorney. from0.79 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

Clients 52

Clients Appraisal Contracts Business 52

Birmingham Appraisal

JUNE 11, 2024

This can attract serious buyers and prevent prolonged market time. Smooth Transactions: An accurate appraisal helps ensure that when your home goes under contract, its value won’t become a stumbling block in the sales transaction. Cost does not always equal value.

Appraisal 88

Appraisal Property Taxes Valuation Real Estate 88

Birmingham Appraisal

JUNE 21, 2023

Appraisals provide an objective assessment of a property’s worth, ensuring accurate market value and facilitating successful transactions. Real estate agents, as trusted guides for their clients, must possess a good understanding of the factors that influence property appraisals.

Real Estate Agent 85

Real Estate Agent Real Estate Agents Appraisal 85

Appraisal Today

JULY 1, 2023

When I started fee appraising in 1986, my first client was a small local bank with a few nearby branches. Highest and Best Use vs. Market Value By Timothy Andersen, MAI Excerpts: There are numerous definitions of market value. How can market value be a function of price since price is not value?

Appraisal 89

Appraisal Contracts Market Value Mortgage 89

Birmingham Appraisal

FEBRUARY 8, 2023

Not really, and today I’m going to explain the differences between several different types of appraisals that could mean the difference between a home appraising for contract price or not. For the record, I will state that the goal of every appraisal is to estimate the market value of a home, usually for lending purposes.

Realtors 87

Realtors Appraisal Market Value Real Estate Agent 87

Appraisal Today

AUGUST 30, 2024

August 30, 2024 What’s in This Newsletter (In Order, Scroll Down) New AMC client. AI Appraisals: Embracing the Future Appraisal 5 Enormous Mansions, With Wildly Different Architectural Styles—Priced at Under a Million Bucks Is appraisal accuracy measured by contract price? Again, I ask, does contract price equal market value?

Appraisal 61

Appraisal Contracts Architecture Market Value 61

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. Appraisers develop an opinion of value for the subject property for various reasons including mortgage underwriting. Appraisal vs Home Inspection.

Appraisal 98

Appraisal Inspection Appraisal Process Real Estate Agent 98

Portland Appraisal Blog

APRIL 14, 2019

You’re a real estate agent and after a lot of back-and-forth, give-and-take, offers and counteroffers, you’ve helped your client negotiate a sweet price for their home. All the work getting the property ready for listing, the extensive marketing, the numerous showings, the sometimes tedious offer evaluations has paid off.

Appraisal 78

Appraisal Reconsideration of Value Agents Market Value 78

Appraiserblogs

JUNE 15, 2022

It shall be unlawful… to engage in any act or practice that violates appraisal independence… Appraisers, I have written the info below, which you may use if you desire to send to your clients and local real estate offices.

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Appraisal Real Estate Clients Agents 111

Appraisal Partners Blog

FEBRUARY 9, 2025

A home appraisal is an unbiased, professional opinion of a property’s fair market value. For Sellers: An appraisal can help sellers set a realistic asking price, attracting potential buyers and avoiding overpricing, which can lead to a prolonged time on the market. An analysis of the market data and comparable sales.

Appraisal 78

Appraisal Property Taxes Inspection Sellers 78

Appraisal Today

SEPTEMBER 15, 2023

This typically happens when an appraiser turns in an appraisal with an appraised value opinion lower than the sale contract price. Richard Hagar, SRA, has a good book on Dave Towne’s comments (and many other client issues): For more info click here == Private money lending – no UAD, computer “reviews”, low fees, etc.

Appraisal 86

Appraisal Real Estate Agent Contracts Real Estate 86

Appraisal Today

AUGUST 9, 2024

Market Value and Appraised Value: Exploring Various Appraisal Values By Jo Traut Excerpts: You’ve probably been asked about the difference between “market value and appraised value” by clients seeking a mortgage. We don’t provide an appraised value of a property. percent from 6.82

Appraisal 70

Appraisal Reconsideration of Value Insurance Market Value 70

Birmingham Appraisal

NOVEMBER 14, 2023

Agents and appraisers are not that different in their desire to determine an accurate market value for a property. The contract price and appraisal value will need to line up or the buyer will not be able to get a loan to pay for the property.

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Market Value Agents Appraisal Bracketing 94