Chicagoland Appraisal Blog

JULY 13, 2017

The article touches on a variety of things that I’d like to respond to such as the reference to the shortage of appraisers. We are required to analyze the contract and where do you think contract analysis begins? The title is definitely eye-catching especially to an appraiser in Chicago. Why was this offer selected?

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Birmingham Appraisal

JULY 7, 2022

These factors, as well as others, have an impact on home values because it affects buyer and seller behavior. Anytime there is a shift in the market there is always the possibility that property values will change. Today I will be sharing my thoughts and give some reasons your home may not appraise in today’s market.

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Eppraisal

JULY 12, 2022

Earnest money is the money a buyer offers to have deposited at contract time to show he is earnest or serious about purchasing the home. Earnest money is sometimes referred to as a "good-faith" deposit. As home values have been rising, so have earnest money amounts.

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Eppraisal

FEBRUARY 17, 2023

There are two ways in which home values can be estimated by real estate professionals. The average consumer may not know the difference between the two, however, home buyers and sellers need to know. These are often referred to as "comps." However, they have different places in the real estate transaction.

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Appraisal Today

AUGUST 23, 2024

Investor home purchases more than doubled during the pandemic homebuying boom in 2021, and then plunged nearly 50% last year as declining rents and home values ate into potential profits. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.50

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Appraisal Today

AUGUST 4, 2023

The censorship is part of a march toward what appraiser and podcaster Phil Crawford has coined “universal basic home value” – a utopian vision among idealogues in which government technocrats dictate the supposed value of a property using algorithms and machine learning. Answer: No, USPAP does not state that. percent from 6.87

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Eppraisal

DECEMBER 23, 2022

Listing and Showings After you have listed your home for sale and your listing agent has all the marketing and advertising in full swing, you will start having "showings" Be sure that all buyers are accompanied by licensed real estate agents. If a buyer calls you directly or knocks on your door, refer them to your listing agent.

Real Estate 36

Real Estate Sellers Inspection Contracts 36

Lamacchia Realty

FEBRUARY 21, 2023

An error rate refers to the frequency or proportion of errors in a set of data. Essentially, this means that half the time, Zillow’s home value estimates are within 7.49% of the actual value. Zillow’s accuracy has a median error rate of 7.49%.

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Real Estate Agent Real Estate Sellers Realtors 74

Raleigh Realty

MAY 3, 2021

Build Equity Your home will have a value assigned to it, and you'll be making mortgage payments. The difference between the home's value and what is left in your mortgage is the equity. In other words, if your home is worth $100,000 and you have $60,000 remaining in your mortgage, you have $40,000 worth of equity.

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Eppraisal

DECEMBER 20, 2022

Your real estate agent will discuss with you the price of the home you are looking for, the size, how many rooms you need, the style, your needs and wants in a home, and much more. It is important to understand home values in the areas you are looking so you have an idea of what type of homes you can afford.

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Clear Capital

FEBRUARY 23, 2024

If it is not highlighted by the lender, the appraiser should review the income and resale restrictions in the purchase contract, and notify the lender before completing the order that it is a shared equity property. 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

Eppraisal

JULY 8, 2022

With home values rising and buyers paying high prices for homes, title companies' roles are more important than ever. Buyers paying these high prices for homes deserve protection. As a buyer, you don't want to purchase a home that has what the industry refers to as "clouds on the title."

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Insurance Real Estate Home Value Real Estate Agent 36

Raleigh Realty

MARCH 29, 2021

Build Equity Every time you make a mortgage payment, you build equity in your home. Think of equity as the amount of money your home is worth after what you owe is deducted. When your home value goes up and you start paying off the loan's principal balance, that builds equity.

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Government Real Estate Agent Insurance Property Taxes 148

Appraisal Today

DECEMBER 9, 2022

Go back in time, go to another city, refer to another appraiser who likes challenges? ==. How Grocery Store Locations Impact Home Values. The average value for homes near a Whole Foods is $891,416, and $321,116 for homes near an ALDI. To see read more and see lots of photos, click here . Over improvement?

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Appraisal Today

NOVEMBER 4, 2022

Is there any way to mitigate the risk and improve the property value? Building homes at a higher elevation will help. Regression results suggested that every foot of elevation can increase home value by 1.6% value to property. This process is often referred to as a “reconsideration of value” or “ROV.”

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Empire Appraisal Group

OCTOBER 17, 2024

Rushing to a decision without thoroughly researching their references, portfolio of work, and licensing can result in costly home renovation mistakes. Ask for a detailed contract that outlines the project scope, timeline, payment terms, and any applicable warranties.

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Will Springer Realtor

OCTOBER 8, 2021

Now you may think I am referring only to homeowners, as in did they miss the peak of the market to sell their home at top dollar. They wonder if they missed their opportunity to buy before interest rates rise along with home values. That’s on top of the 30 homes that we recorded for sale this time last year.

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Real Estate Buyers Inventory Housing Market 36

Housing Wire

JUNE 14, 2022

Fannie Mae and Freddie Mac’s equitable housing finance plans further expand non-traditional property appraisals, which sometimes rely on property tax information, data collected by third parties, or algorithms to assess a property’s value. Both GSEs argue that these approaches advance equity.

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Appraisal Today

MARCH 14, 2025

By Tom Horn Excerpts: Why Accuracy Matters Square footage is one of the most critical factors in determining a homes value, yet it is often misunderstood. For example, Some people dont like fat people or appraising a very cluttered home that smells bad. The average contract interest rate for 5/1 ARMs decreased to 5.81

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Appraisal Valuation Contracts Government 52

Appraisal Today

OCTOBER 25, 2024

The complaint alleges Mykhailyna used sales from distant, majority-Black areas, ignoring closer sales, and undervalued the property by over $200,000 compared to an appraisal less than a year earlier, despite rising home values. from 0.65 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.

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Appraisal Contracts Real Estate Mortgage 79

Appraisal Today

FEBRUARY 7, 2025

Newz: Waivers Increasing, The New URAR: Markets vs. Neighborhoods, Climate Change and Home Values February 7, 2025 Whats in This Newsletter (In Order, Scroll Down) LIA AD: Should I consider this an actual claim? I have not seen discussions on the future of home values in risky areas. Contract Price = Market Value?

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