Cleveland Appraisal Blog

JUNE 17, 2022

What’s the difference between a newly constructed home and a hundred-year-old home? 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.

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Appraisal Development Market Value Tenants 279

Miller Samuel

MARCH 19, 2019

A large swath of high-end condo market activity of the past five years are non-primary residences which include pieds-a-terres but most are investor purchases that are subsequently rented after the unit closes when construction was completed. January: The closing of the $238,000,000 Manhattan condo sale in January (2015 contract).

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Real Estate Law Development Investors 370

Raleigh Realty

FEBRUARY 19, 2022

A home appraisal determines the fair market value of a home. The home appraisal is something you can negotiate prior to going under contract as well, or even while under contract. It's one of the final steps after going under contract. Does a Newly Constructed Home Need an Appraisal? Not a cent more.

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Appraisal Process Appraisal Construction Sellers 139

Appraisal Today

NOVEMBER 1, 2024

Let’s dive into appraising kitchens and how the room impacts market value. Functional Obsolescence and Price Point If a back corner kitchen or a galley kitchen does not align with current market preferences for homes of a similar age, it might be considered outdated and impact marketability. percent from 6.52

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Appraisal Training Contracts Mortgage 82

Simonson Real Estate

DECEMBER 6, 2022

In 2022, Simonson Appraisals completed a steady stream of financing assignments with planned new construction or significant proposed renovations. On several occasions, we were presented information about construction or renovation plans well after the initial assignment was started. Clarify What Value or Values are Needed.

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Appraisal Process Real Estate Appraisal Renovations 78

The Robert Weiler Company

SEPTEMBER 16, 2021

Cost of construction and materials. Explanation of potential risks you may face or negative aspects that may impact the market value of the commercial property. Independent and not contracted with any third party, institution, or broker. Floor plans. Neighborhood and location. Recent sales of comparable properties.

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Real Estate Appraisal Property Appraisal Valuation 147

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.

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Real Estate Agent Real Estate Agents Appraisal 97

Birmingham Appraisal

MARCH 21, 2023

A Look at How Market Trends are used in the Real Estate Appraisal Process The real estate market is constantly changing, and market trends play a crucial role in helping an appraiser determine property values. In this blog post, we’ll explore the role of market trends when completing a real estate appraisal.

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Real Estate Appraisal Marketing Market Value 91

Appraisal Today

APRIL 12, 2024

Home equity lines of credit (HELOCs): When homeowners apply for HELOCs, lenders may request desktop appraisals to ascertain the property’s value and determine the credit limit without requiring a full appraisal. Managing Investments: For investors who own multiple properties, desktop appraisals provide rapid updates on property values.

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Appraisal Construction Contracts Architecture 77

Appraisal Today

SEPTEMBER 15, 2023

At the same time, concrete finishes merge various construction techniques and artisan approaches that give the feeling of carved stones, whose volumes and shapes vary, but always integrated harmoniously in these habitable sculptures. Therefore, the final price may not reflect the market value of the property.

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Appraisal Real Estate Agent Contracts Real Estate 82

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. Evaluate the quality of construction and materials.

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Appraisal Property Taxes Inspection Sellers 78

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 93

Appraisal Today

FEBRUARY 9, 2024

also clarifies when appliances are required to be operational by stating, “Appliances that are to remain and that contribute to the market value opinion must be operational,” and, “The Appraiser must note all appliances that remain and contribute to the Market Value.” FHA Handbook 4000.1 Nationwide, 31.8% percent from 13.3

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Appraisal Contracts Insurance Construction 80

Appraisal Today

APRIL 26, 2024

However, there are six other types of real estate transactions that you need to know about so you can specify these sale types in your appraisal report as they can affect the market value of the property. Therefore, the final price may not reflect the market value of the property. percent from 7.13 percent from 7.40

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Appraisal Real Estate Real Estate Agent Contracts 76

Genworth MI Blog

JUNE 27, 2019

Withholding or threatening to withhold timely payment for an appraisal report or appraisal services rendered when the appraisal report or services are provided in accordance with the contract between the parties. Market Value: In a mortgage appraisal, the appraiser is most likely estimating the market value of the property.

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Appraisal Tips Appraisal Law Market Value 78

Genworth MI Blog

JUNE 27, 2019

Withholding or threatening to withhold timely payment for an appraisal report or appraisal services rendered when the appraisal report or services are provided in accordance with the contract between the parties. Market Value: In a mortgage appraisal, the appraiser is most likely estimating the market value of the property.

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Appraisal Tips Appraisal Law Market Value 78

McKissock

MAY 10, 2023

Or you were a home inspector and/or are familiar with construction, major components, and mechanicals. We all have skill sets and experience that we can market to potential mentors.” One day, there will be no one to develop an unbiased independent third-party opinion of market value. The nation needs appraisers.

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Real Estate Appraisal Training Business 86

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. What If The Appraisal Is Less Than The Contract? There is always the possibility that the appraisal value is less than the contract price.

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Appraisal Inspection Appraisal Process Real Estate Agent 98

Appraisal Today

AUGUST 23, 2024

August 23, 2024 What’s in This Newsletter (in Order, Scroll Down) Construction Progress Reports: ADUs & Remodels What Is an Appraisal Review and Who Can Be a Reviewer? It was officially opened in 1895, six years after construction started. from 0.57 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

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Appraisal Contracts Investors Property Appraisal 68

Appraisal Today

JANUARY 19, 2024

An example of this in real estate appraisal is the purchase and sale contract. When a property goes under contract, that is an excellent sign of what the buyer and seller conclude the property is worth. In and of itself, it is not market value. The average contract interest rate for 5/1 ARMs decreased to 6.14

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Appraisal Contracts Real Estate Architecture 73

Town & Country Residential Appraisals

SEPTEMBER 26, 2022

But did you know there are a number of other reasons you should be contracting an appraiser to perform a professional valuation on your property? My experience in completing appraisals for properties that have been sold without the professional expertise of a real estate professional is that the selling price is often lower than the value.

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Appraisal Renovations Real Estate Valuation 50

Hank Miller Team

NOVEMBER 22, 2022

In brief (operative word), an appraisal is an estimate of the current market value of a home completed by an appraiser using set evaluation criteria. In simple terms, the lender will not lend more than a certain percentage of what the home is worth as of the date of contract. On occasion, appraisals come in below contract price.

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Inspection Appraisal Buyers Sellers 52

Property Metrics

AUGUST 13, 2020

A liquid asset is one that can be sold immediately at market value. If an owner had to sell a piece of real estate by the end of the day, chances are that it would be for a price far below market value. The degree of illiquidity varies according to location, property type, and market cycle. Construction Risk.

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Real Estate Tenants Investing Construction 53

McKissock

SEPTEMBER 10, 2020

The Dictionary of Real Estate Appraisal, 6th Edition defines intangible property as “nonphysical assets, including but not limited to franchises, trademarks, patents, copyrights, goodwill, equities, securities, and contracts as distinguished from physical assets such as facilities and equipment.” Consider alternate uses.

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Appraisal Valuation Real Estate Design 54

Town & Country Residential Appraisals

JUNE 6, 2022

When making a decision to contract just about anyone to perform a service, one of the most important qualifiers for most is the experience one brings to the table. You really don’t want someone building your deck who has never built one before or replacing your transmission if they have never worked on cars.

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Real Estate Valuation Real Estate Agent Appraisal 50

The Robert Weiler Company

OCTOBER 21, 2022

The commercial real estate appraiser’s role is to produce an accurate, reliable, and unbiased estimate of the market value of a property. Market value is the most likely selling price a knowledgeable buyer would pay to a knowledgeable seller. Question 6: What is the overall commercial real estate appraisal process?

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Real Estate Appraisal Property Appraisal Valuation 60

Appraisal Today

FEBRUARY 16, 2024

In my city of 78,000 population, there are over 10,000 buildings constructed prior to 1930, including many classic Victorians. the price of the Naples compound was justified not only because of the size, location, and yacht basin, but also because it would be difficult to construct such a property again. percent from 6.80

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Appraisal Contracts Training Architecture 80

Appraisal Today

JUNE 21, 2024

FIXATE ON ACTIVES & PENDINGS: A closed sale today doesn’t really tell us about the market today. It tells us more about the trend one month ago when the property got into contract. Where is the market at right now? This is where we want to give strong respect to other similar units that are getting into contract.

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Appraisal Architecture Contracts Design 69

Appraisal Today

JUNE 17, 2022

NOTE: Please scroll down to read the other topics in this long blog post on real estate market, USPAP and contracts, unusual homes, mortgage origination stats, etc. ==. My Comments on Market Changes. USPAP and the Contract. Excerpt: But USPAP and the contract have a very unique relationship. 8-minute podcast.

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Appraisal Contracts Real Estate Mortgage 52

Clear Capital

DECEMBER 21, 2022

With so much at stake, a credible appraisal report with the appropriate comparable sales is key to determining the market value of a property and protects the investment of the parties involved in the transaction. But this is not always the case! This analysis will determine whether a time adjustment is warranted.

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Appraisal Bracketing Clients Market Value 69

Appraisal Today

OCTOBER 20, 2023

Note: This update does not apply to newly constructed manufactured homes because these items must be present on all new units. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.70 The average contract interest rate for 5/1 ARMs increased to 6.52

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Appraisal Design Contracts Inspection 71

Listing Spark

FEBRUARY 9, 2023

A home appraisal is a process in which a licensed appraiser analyzes your property and determines the fair market value of your home. People typically use an appraisal to validate the value of a home or property for real estate transactions between buyers and sellers, or if homeowners are refinancing their mortgage.

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Appraisal Sellers Market Value Contracts 36

AmeriMac

OCTOBER 5, 2022

If you are in the process of buying a home, getting a home appraisal of the property can help you to get the correct market value for the home so that you don’t pay too much for it. It can be helpful for both the buyer and the seller of the property when the true value of the home is assessed. Your Loan-to-Value Ratio.

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Appraisal Mortgage Market Value Sellers 36

AmeriMac

JANUARY 19, 2021

A low appraisal can cause the cancellation of sales contracts because a lender won’t approve mortgages higher than a home’s value. Highlight new and upgraded features, especially those adding value to your house. Constructing a basement. It is a poor way to get market value. Hardwood floors.

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Appraisal Real Estate Agent Market Value Real Estate 36

Appraisal Today

JULY 1, 2022

Excerpt: What’s the difference between a newly constructed home and a hundred-year-old home? 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.

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Appraisal Contracts Insurance Real Estate 52

Appraisal Today

OCTOBER 7, 2022

If it had a market value of $345k, it would have listed at $345k!”. “Owning this house is a bit like being a celebrity in very weird, eclectic circles,” he said in a recent interview, noting how architecture students would regularly visit to study the home’s sculptural construction. To read more click here.

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Appraisal Contracts Architecture Housing Market 52

Appraisal Today

APRIL 14, 2023

For many different reasons, properties can come on the market in less-than-par condition. At some point it’s no longer “normal market value minus cost to cure equals as-is value.” The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.30

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Appraisal Bracketing Valuation Contracts 52