Cleveland Appraisal Blog

MAY 26, 2023

The Sales Comparison Approach uses competing homes to develop an opinion of the market value of the property being appraised. The Income Approach uses potential income to develop an opinion of the market value of a property, when applicable. All three are market-based approaches.

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Appraisal Real Estate Agent Real Estate Valuation 301

Miller Samuel

MARCH 19, 2019

The New York state political zeitgeist was recently and suddenly tilted against luxury development in New York City. If this latest turn of events plays out as written, we'll be able to look back at this era as a milestone where the supertanker began to turn in the wrong direction for the new development multi-family industry.

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Real Estate Law Development Investors 370

Housing Wire

JUNE 2, 2022

In addition, crypto-assets backed by mortgage loans are already being securitized via the blockchain by other lenders who have chosen to act now and seek permission from regulators later, if necessary — after formal rules are developed for so-called nonfungible tokens (NFTs) and other crypto-assets. The stable coin, pegged to the U.S.

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Technology Investing Investors Mortgage 418

Cleveland Appraisal Blog

SEPTEMBER 3, 2021

We also use the MLS to analyze the market trends and to make market-based adjustments for things such as changes in sales prices, as well as features of a home that have a major impact on market value, like finished square footage, bedroom, and bathroom count, lot size and so on. NO BLANK FIELDS. ACCURATE DATA.

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Agents Appraisal Renovations Development 373

Cleveland Appraisal Blog

OCTOBER 14, 2021

On many of my appraisals at that time, my opinion of value would not support the contract price. Perhaps they were drinking the Kool-Aid that some are drinking today, that market value is whatever the purchase price is. Don’t drink the Kool-Aid that any contract price is reflective of market value.

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Inventory Market Value Appraisal Contracts 243

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. However, there are other methods for estimating land value. Depreciation!

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Appraisal Development Market Value Tenants 279

Walitt Solutions

MAY 24, 2024

My market value conclusion came in below the purchase contract price. Now, a few weeks later, the parties have signed an addendum to the contract to match my value conclusion; the client has sent me that addendum. The client wants me to change my report to show the new amended contract price!

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Contracts Appraisal Clients Market Value 74

Cleveland Appraisal Blog

JUNE 18, 2022

But once these qualities are developed, many appraisers find eminent domain work to be interesting, challenging but worthwhile, and financially rewarding. 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.

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Appraisal Law Development Valuation 309

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?

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Contracts Appraisal Market Value Real Estate 64

Eppraisal

FEBRUARY 7, 2023

Whether you decide to hold it and sell when real property values climb or -- alternatively -- develop the lot to convey at a higher price, you are subject to forces of market, timing and competition. By contrast, a homebuilder acquires raw land to build on and sell when home values are high.

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Development Sellers Legal Home Value 69

McKissock

MARCH 2, 2021

As an experienced appraiser, you’ve likely encountered pressure to hit the purchase price or develop your appraisal based on a predetermined value. So what do you do when you’re asked to hit a certain value? Webinar: The Market Value Doesn’t Support the Contract Price, Now What? Sign up now.

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Appraisal Contracts Market Value Clients 103

Simonson Real Estate

JULY 10, 2020

The appraiser’s role is to provide arm’s length, third-party, neutral, and impartial opinions about the value of real property and provide assistance to those who own, manage, sell, invest in, or lend money on real estate. Value Scenarios. What is Market Value As Is and When is it Used? Prospective Values.

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Appraisal Process Appraisal Market Value Tenants 148

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.

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Appraisal Investors Market Value Contracts 195

Appraisal Today

APRIL 2, 2023

What Do Appraisers Look For in a Sales Contract? 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.

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Contracts Appraisal HOA Architecture 52

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.

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Appraisal Marketing Valuation Tools 358

Will Springer Realtor

OCTOBER 19, 2021

Enter the appraiser, someone who has probably never visited the property – or possibly even the neighborhood – and who will use his/her expertise to develop a valuation on the home. About 13% of appraisals came in below the contract price this August, the most-recent available data, according to housing-research firm CoreLogic.

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Contracts Appraisal Sellers Real Estate Agent 41

Simonson Real Estate

DECEMBER 6, 2022

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. Clarify What Value or Values are Needed.

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Appraisal Process Real Estate Appraisal Renovations 78

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

McKissock

JUNE 8, 2021

So, what if a client provides a sales contract to the appraiser after the report is completed, and the appraised value estimate is five percent above the contract price? Conversely, what if the contract price was five percent higher than the appraised value estimate? Is the client going to fuss? Not likely.

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Appraisal Contracts Clients Law 73

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. Often new constructions don't have developed yards. Not a cent more.

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Appraisal Process Appraisal Construction Sellers 139

Dart Appraisal

APRIL 22, 2021

Based upon the definitions from the Dictionary of Real Estate Appraisal (below), anytime the subject is encumbered by a lease, including a partial lease, a short-term lease on a single-family residence, a ground lease, or a billboard lease, the leased fee property rights must be valued.

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Tenants Market Value Clients Landlords 67

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.

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Realtors Appraisal Market Value Real Estate Agent 86

Cleveland Appraisal Blog

SEPTEMBER 18, 2021

The only difference between a worker bee and a Queen bee is the food it is given when it is developing. Chickens and honeybees can add value to your home. But not market value. They can add emotional value in terms of joy, fun, and education. Interestingly, a worker bee and a Queen can come from the same egg?

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Appraisal Market Value Contracts Marketing 243

Appraisal Today

JULY 1, 2023

These resources supplement the initial documentation that was released in March 2023 to kick off industry development and preparation for the new appraisal dataset and report. Highest and Best Use vs. Market Value By Timothy Andersen, MAI Excerpts: There are numerous definitions of market value. percent from 6.73

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Appraisal Contracts Market Value Mortgage 85

Birmingham Appraisal

FEBRUARY 20, 2024

It’s important to understand that collaboration does not mean that both parties must work together so that the deal closes at the contract price no matter what. The appraiser must make sure that they are providing an impartial valuation so that the market value shown in the appraisal is as accurate as possible.

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Agents Appraisal Real Estate Agent Bracketing 94

Appraisal Partners Blog

JANUARY 6, 2025

By understanding its current market value, and projecting future value based on market analysis, investors can calculate their potential return on investment (ROI) and make informed decisions. This gives them leverage and allows them to make offers that are supported by objective market data.

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Real Estate Investing Appraisal Investors 78

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. 31, 2024.

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Appraisal Reconsideration of Value Insurance Market Value 67

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.

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Appraisal Inspection Appraisal Process Real Estate Agent 98

Appraisal Today

APRIL 12, 2024

Retrospective appraisals, drive-by (exterior inspection) appraisals, and valuations from plans and specifications, are all valuation assignments where an appraiser develops an appraisal opinion without personally inspecting the property. Who would be in the market for a Frank Lloyd Wright house?

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Appraisal Construction Contracts Architecture 77

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

Clear Capital

FEBRUARY 23, 2024

Inclusionary Housing : Typically administered by housing authorities or municipalities, inclusionary housing policies require for-profit developers to create a percentage of units sold below market value. The contract will also likely reference a second document, either a deed restriction or a ground lease.

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Valuation Market Value Contracts Appraisal 36

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

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? There is a difference.

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Real Estate Agent Real Estate Clients Agents 94

McKissock

MAY 10, 2023

We all have skill sets and experience that we can market to potential mentors.” Traut recommends considering other entry-level and contracting jobs, such as completing quality-control reviews or managing appraisal orders for a bank or an AMC. There will only be a machine, and the value of your real estate will be dictated to you.

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Real Estate Appraisal Training Business 86

Appraiserblogs

OCTOBER 27, 2023

Proving discriminatory activity is hard, which is probably one reason HUD is dragging their collective feet in resolving the filed complaints. The real scourge of what’s been happening to appraisers for the past 5 years (yes, it started prior to the last election) has been revealed by Mr. Isaac Peck, in this article.

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Appraisal Real Estate Agents Contracts 129

Appraiserblogs

MAY 26, 2022

Now the effort is AGAIN to have ‘us’ artificially raise property values. But the push this times seems to be “only for certain people. A new press release from Class Valuation, one of the largest US based AMCs, scampered across my office threshold on 5/17/22.

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Modernization Valuation Appraisal Government 123