Cleveland Appraisal Blog

SEPTEMBER 2, 2022

What does the appraiser do with the three different values that may be developed? The appraiser must now reconcile these three values into one final opinion of value. One definition of the word reconcile in Dictionary.com is “to bring into agreement or harmony; make compatible or consistent.” Appraisers are.

Appraisal 342

Appraisal Development Valuation Market Value 342

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? Blog post: Advice for Working with Difficult Clients.

Appraisal 103

Appraisal Contracts Market Value Clients 103

Appraisal Buzz

SEPTEMBER 12, 2022

The issue some clients run into with the iBuying model is that sellers are barely making a profit or still losing money while home prices are increasing. However, there’s a definite market need for iBuyers since people need to sell because they face financial distress or immediate moves. Weighing Traditional Sales and iBuying.

Supply Chain 195

Supply Chain Sellers Housing Market Appraisal 195

Housing Wire

NOVEMBER 5, 2023

It’s a method to establish and nurture relationships with both potential clients and other stakeholders within a defined area. Circle prospecting requires a combination of interpersonal skills, local market knowledge, and often, patience. There are tons of less involved ways to show value as well. It’s a great time to sell.

Real Estate 221

Real Estate Tools Real Estate Agent Agents 221

McKissock

JULY 23, 2021

Every real estate appraiser is familiar with the terms “marketing time” and “exposure time,” but it’s not always clear why and how these are developed in everyday assignments when developing an opinion of market value. USPAP Standards Rule 1-2 (c) requires the appraiser to identify the type and definition of value.

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Appraisal Marketing Market Value Development 99

Appraisal Buzz

SEPTEMBER 20, 2021

This article will pick up where the last one left off, so you will definitely want to read Part 1 of this series before continuing. Since market value is defined as the most probable price (with stipulations, of course), if your distribution is ‘normal’, then each of those measures will point to the same conclusion.

Sellers 195

Sellers Appraisal Inventory Buyers 195

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. These definitions, prima fasciae, are at odds with each other.

Appraisal 89

Appraisal Contracts Market Value Mortgage 89

The Robert Weiler Company

APRIL 20, 2021

The process, however, is much less straightforward than the definition. So, how are businesses valued? They are: (1) the asset-based approach; (2) the earning value approach; and (3) the market value approach. The market value approach. The asset-based approach. Scratching your head?

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.

Tenants 67

Tenants Market Value Clients Landlords 67

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

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

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

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. Keep the definition of intended users as narrow as possible. ” 5. . =

Clients 52

Clients Appraisal Contracts Business 52

McKissock

JANUARY 31, 2023

.” “That we research value, we do not assign it.” ” “The definition of market value.” ” “How value is derived.” ” “Why the price per square foot is not an indicator of value.” The subdivision decides the market value of a home.

Real Estate Agent 97

Real Estate Agent Real Estate Agents Appraisal 97

McKissock

JANUARY 14, 2022

I phoned to notify my local lender client of the problem. The client said that it couldn’t be that bad, to which I said to come check it out yourself. My client never got past the foyer, cancelled the assignment, and denied the loan. Upon entry, I noticed an intense odor from animal waste, which was just terrible.

Appraisal 77

Appraisal Tenants Inspection Market Value 77

Appraisal Today

AUGUST 30, 2024

August 30, 2024 What’s in This Newsletter (In Order, Scroll Down) New AMC client. Enhanced Reports Another appraiser leveraged AI tools to generate detailed market analysis reports. Again, I ask, does contract price equal market value? Further, should contract price be the metric by which appraisal values are measured?

Appraisal 80

Appraisal Contracts Architecture Mortgage 80

Appraisal Today

NOVEMBER 25, 2022

I will be writing about this in an upcoming issue of the monthly Appraisal Today, with lots of marketing and expert witness tips. Creative Appraisal Definitions Humor e. Book Review: Residential Market Analysis and Highest and Best Use by Mark Ratterman, MAI, SRA Reviewer: Joe Lynch. Is the Definition of Market Value Outdated?

Appraisal 52

Appraisal Market Value Contracts Finance 52

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.

Appraisal 70

Appraisal Reconsideration of Value Insurance Market Value 70

Appraisal Today

AUGUST 30, 2024

August 30, 2024 What’s in This Newsletter (In Order, Scroll Down) New AMC client. Enhanced Reports Another appraiser leveraged AI tools to generate detailed market analysis reports. Again, I ask, does contract price equal market value? Further, should contract price be the metric by which appraisal values are measured?

Appraisal 61

Appraisal Contracts Architecture Market Value 61

McKissock

MAY 10, 2023

A skilled marketer could help the supervisor set up and implement a marketing plan to obtain new clients. Now I am sure that this gentleman is thinking how difficult it is to get hired—but had I received a professional resume with some attention to detail, I would definitely have given him a follow-up interview. “No

Real Estate 86

Real Estate Appraisal Training Business 86

Appraisal Today

SEPTEMBER 20, 2024

Value is defined in the Uniform Standards of Professional Appraisal Practice (USPAP) as: “The monetary relationship between properties and those who buy, sell, or use those properties, expressed as an opinion of the worth of a property at a given time. Unlike value, price is not an opinion. What is Sale Price? It is a fact.

Appraisal 77

Appraisal Business Contracts Real Estate 77

Appraisal Today

FEBRUARY 16, 2024

There were definitely adjustments for homes built by famous, widely known, architects. Get the relevant date of value from the client or client’s attorney. Keep the definition of intended users as narrow as possible. Worth reading. A good summary. For many years I appraised in the nearby city of Berkeley, CA.

Appraisal 84

Appraisal Contracts Training Architecture 84

Appraisal Today

SEPTEMBER 15, 2023

To read more click here My comments: Definitely an appraisal challenge! == GSE FAQs: Appraiser Independence (AIR) (Aug. 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 2, 2024

This misguided definition of “accuracy” is both misleading and dangerous, as it perpetuates the misconception that appraisals should be precise to the dollar, when in reality, there is always going to be a degree of subjectivity and variability involved. The appraisal report is shared with the lender, who is the client in this scenario.

Appraisal 77

Appraisal Valuation Law Contracts 77

Rowe Appraisal Group

MAY 6, 2020

In most cases our clients require a comment/explanation when a contract price is higher than the most recent list price. If a home was only listed on the MLS for 5 days and has multiple offers, it most likely indicates that the list price is at or below market value. Maybe I need to look deeper at the current market conditions.

Realtors 36

Realtors Appraisal Contracts Real Estate Agent 36

Rowe Appraisal Group

MAY 6, 2020

In most cases our clients require a comment/explanation when a contract price is higher than the most recent list price. If a home was only listed on the MLS for 5 days and has multiple offers, it most likely indicates that the list price is at or below market value. Maybe I need to look deeper at the current market conditions.

Realtors 36

Realtors Appraisal Contracts Real Estate Agent 36

Quicken Loans

JUNE 3, 2021

The most successful realtors and agents are finding ways to incorporate technology into their practices to increase their efficiency and draw in more clients, but the rising popularity of iBuying platforms has led to a whole new wave of trepidation. iBuyers insist that these calculations provide them with fair market values of homes.

Sellers 55

Sellers Buyers Agents Real Estate Agent 55

Appraisal Today

AUGUST 23, 2024

The client base for appraisal reviews is vast and diverse, encompassing a wide range of sectors and needs. When I called my client, they just wanted to know if the value was the same as a house or 4 units. The book thoroughly discusses specialty residential property types and markets. Who can review a property appraisal?

Appraisal 71

Appraisal Contracts Investors Property Appraisal 71

Rowe Appraisal Group

MAY 6, 2020

Appraisers should never advocate for a client’s objective. For example, if they are applying for a mortgage refinance or Home Equity Loan, they are wanting a higher appraised value. Just because one spouse hires an appraiser doesn’t mean that the appraiser is an advocate for their client.

Appraisal 36

Appraisal Appraisal Process Real Estate Training 36

Rowe Appraisal Group

MAY 6, 2020

Appraisers should never advocate for a client’s objective. For example, if they are applying for a mortgage refinance or Home Equity Loan, they are wanting a higher appraised value. Just because one spouse hires an appraiser doesn’t mean that the appraiser is an advocate for their client.

Appraisal 36

Appraisal Appraisal Process Real Estate Training 36

Housing Wire

JANUARY 24, 2024

What constitutes a “lowball” offer, when is it appropriate or not appropriate and how can you encourage your buyer clients to stop insisting on offering a price that’s unlikely to result in an offer? By definition, a lowball offer is an offer that is significantly below market value. See the difference?

Buyers 476

Buyers Sellers Counter Offer Agents 476

Cleveland Appraisal Blog

MAY 13, 2021

And right now, many buyers are forced to bring cash to the table to make up the difference between what the home’s market value is determined to be, and the contract price. It may still be worth it to the buyer to move forward, despite paying more than market value. . What is solid support for market value?

Market Value 299

Market Value Appraisal Contracts Buyers 299

Lifestyle Properties of Maine

AUGUST 6, 2019

Definition of Appraisal The first thing to know in this process is what is an appraisal? “An appraisal is a licensed appraiser's opinion of a home's market value based on comparable recent sales of homes in the neighborhood.”

Real Estate 28

Real Estate Appraisal Inspection Contracts 28

Clear Capital

SEPTEMBER 29, 2021

So it’s something that is definitely worth further investigation. And Ribbon is actually company we’ve been definitely keeping our eye on — doing some some super cool things out there in the industry, helping buyers be more competitive in the marketplace. Jeff Allen. So, we back that number. Jeff Allen.

Sellers 69

Sellers Agents Real Estate Appraisal 69

Appraisal Today

SEPTEMBER 9, 2022

Maintain USPAP compliance – Confirm the ROV request came from your client, either directly or through the client’s AMC, acting as an agent for the client, or other party designated as an agent by the client. Click here to listen to Tim Andersen, MAI’s podcast, “Reconsiderations of Value: Satan’s Own Seed, Right?”

Reconsideration of Value 52

Reconsideration of Value Appraisal Clients Contracts 52

Appraisal Today

JANUARY 5, 2024

Spend hours writing volumes of supporting documentation to justify the market value of a property you already decided on when you pulled into the driveway. – Work on getting a more positive attitude toward your clients, fees, etc. Pick one client to start with. – Set up your Google business profile.

Appraisal 79

Appraisal Contracts Business Legal 79

Housing Wire

FEBRUARY 19, 2025

Buyers agents are not just bright smiles that open doors were the guide our clients rely on to navigate the homebuying process. Thats why having a definitive homebuying checklist is an essential part of your agent toolkit. Make sure your clients know how these costs impact payment amounts, cash out-of-pocket, and their bottom line.

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Inspection Clients Buyers Real Estate 372