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.

Inventory 243

Inventory Market Value Appraisal Contracts 243

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

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. Click here to visit their website.

Appraisal 305

Appraisal Real Estate Agent Real Estate Valuation 305

Cleveland Appraisal Blog

AUGUST 20, 2021

If you’re not an appraiser, if you are trying to figure out the value of a home, chances are good that you use a price per square foot metric. That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. However, oftentimes, it does not. .

Appraisal 266

Appraisal Market Value Contracts Agents 266

Appraisal Buzz

MAY 24, 2021

Challenges often arise in how professionals figure out the overall value of multifamily homes. Because appraisals are contingencies in 43% of contracts , you must find ways to accurately evaluate these properties. Essentially, you calculate each unit’s fair market rent based on other rentals located in the neighborhood.

Appraisal 397

Appraisal Tenants Buyers Landlords 397

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. USPAP and the Contract – Tim Andersen, The Appraiser’s Advocate Podcast.

Appraisal 283

Appraisal Development Market Value Tenants 283

Cleveland Appraisal Blog

MARCH 25, 2023

– Birmingham Appraisal Blog Tim O’Brien’s Journey in the Appraisal Industry: Following the Yellow Brick Road – PahRooZings: Appraisers On Purpose Podcast Appraiser Adjustment Tools – APPRAISAL TODAY Devalue Market Value?

Supply Chain 285

Supply Chain Appraisal Renovations Market Value 285

Miller Samuel

MARCH 19, 2019

That article came out in 2014 right as the housing market was peaking. January: The closing of the $238,000,000 Manhattan condo sale in January (2015 contract). The market value of these properties will be based on a "comparable sale-based valuation method." November: Control of the New York State Senate flipped.

Real Estate 370

Real Estate Law Development Investors 370

Cleveland Appraisal Blog

JUNE 18, 2022

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. While most states allow fair market value to be established using traditional appraisal approaches (e.g. Click here to visit their website.

Appraisal 312

Appraisal Law Development Valuation 312

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

Appraisal 91

Appraisal Training Contracts Mortgage 91

Cleveland Appraisal Blog

AUGUST 11, 2022

Although you probably won’t be able to sell your home at its actual market value, you will also save a lot of time and money. Most states prescribe a certain amount of time when the homebuyer can walk away from signing the purchase contract. Sometimes, you can even sell your home in a matter of days or weeks.

Renovations 221

Renovations Buyers Appraisal Investing 221

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

Lamacchia Realty

JUNE 21, 2022

That’s because fewer homes are being placed under contract. They say “If you overprice it’s better to admit your mistake and cut the price all the way down to the true market value in one fell swoop.” The post Price Adjustments in this New Housing Market appeared first on Lamacchia Realty. They are right.

Housing Market 69

Housing Market Bracketing Marketing Sellers 69

Will Springer Realtor

OCTOBER 19, 2021

About 13% of appraisals came in below the contract price this August, the most-recent available data, according to housing-research firm CoreLogic. housing market is 7% of all mutually accepted contracts. That’s off the recent high of 20% in May when buyers were in a feeding frenzy for scant homes.

Contracts 41

Contracts Appraisal Sellers Real Estate Agent 41

Appraisal Today

JULY 1, 2023

Why Higher Mortgage Rates Don’t Always Lead to Declining House Prices First American Blog June 26, 2023 Excerpts:“Nominal house prices need to adjust to the reality of higher mortgage rates for the housing market to become more affordable and balanced, but a fundamental housing supply shortage is keeping a floor on how low house prices can go.”In

Appraisal 93

Appraisal Contracts Market Value Mortgage 93

McKissock

OCTOBER 3, 2021

As a wholesaler, you need to find a property for sale, acquire a contract from the seller, identify a buyer, and assign the contract to him or her. The only costs you have to cover are those for finding a property for sale and for marketing the property to interested buyers. Pick the strategy that best fits your goals.

Investing 87

Investing Real Estate Real Estate Agent Realtors 87

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.

Real Estate 91

Real Estate Appraisal Marketing Market Value 91

Cleveland Appraisal Blog

SEPTEMBER 18, 2021

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. The NYC Housing Market Tries To Win Rookie Of The Year Again – Housing Notes by Jonathan Miller. Perhaps we will one day. Click here to visit their website.

Appraisal 243

Appraisal Market Value Contracts Marketing 243

Realtor

DECEMBER 15, 2016

If a real estate comp isn’t an exact match—which is typically the case—an appraiser will make adjustments in order to fairly estimate the market value of the real estate you want to buy. Low appraisals tend to occur in hot housing markets, where home buyers are often forced to pay above market value for a home.

Appraisal 78

Appraisal Real Estate Agent Real Estate Mortgage 78

Realtor

DECEMBER 15, 2016

If a real estate comp isn’t an exact match—which is typically the case—an appraiser will make adjustments in order to fairly estimate the market value of the real estate you want to buy. Low appraisals tend to occur in hot housing markets, where home buyers are often forced to pay above market value for a home.

Appraisal 78

Appraisal Real Estate Agent Real Estate Mortgage 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.

Appraisal 74

Appraisal Reconsideration of Value Insurance Market Value 74

Eppraisal

OCTOBER 23, 2023

Your bid may need to be higher, your contract contingencies may be undesirable or other buyers may have more attractive financing requirements. You can say no to the counteroffer, accept it or propose new changes to the contract. Arriving at a verbal agreement differs from being in a contract.

Real Estate Agent 69

Real Estate Agent Sellers Inspection Real Estate 69

Will Springer Realtor

JULY 8, 2022

The screeching you heard in June was the sound of brakes being applied to the housing market across the U.S. The King County housing market has seen inventory increase by 55% in the past month, while the number of homes going under contract fell 22% from May to the lowest June level since 2011. Not really sure.”.

Housing Market 36

Housing Market Marketing Inventory HOA 36

Lamacchia Realty

MARCH 28, 2023

February 2023 connecticut housing report February Highlights As we move further into the year, the Connecticut housing market is showing signs of improvement, although home sales in February are still significantly lower compared to last year. Anthony explains this in more detail in a recent video.

Sellers 71

Sellers Buyers Inventory Real Estate 71

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. .

Appraisal 86

Appraisal Construction Contracts Architecture 86

Hank Miller Team

DECEMBER 14, 2022

If the appraisal is below expectation, the appraiser is out of touch with the market, doesn’t fully appreciate the home and doesn’t understand how buyers "will just love it" While the agent should acknowledge the low appraisal, most will agree with the owner to just get the listing.

Appraisal 52

Appraisal Real Estate Agent Contracts Agents 52

Lamacchia Realty

OCTOBER 13, 2022

Closed comparable sales, also known as ‘comps,’ are used to approximate market value for residential properties. Market value is determined by sales, not the high hopes of a seller. It typically takes 30-60 days for a property to go from under contract to closed. Price Adjustments in this New Housing Market.

Marketing 74

Marketing Sellers Buyers Market Value 74

Appraisal Today

AUGUST 23, 2024

Investor activity in the housing market is stabilizing following several years of dramatic ups and downs. 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. percent from 6.54 percent from 6.78

Appraisal 75

Appraisal Contracts Investors Property Appraisal 75

Will Springer Realtor

OCTOBER 11, 2022

Seriously though, there must be a ceiling to rising rates that have all but extinguished a robust housing market. housing market is experiencing a price “correction,” defined as a 10% price drop from its most recent peak. The local single-family market is riding a similar up-and-down wave, depending on the area.

Housing Market 36

Housing Market Marketing Real Estate Buyers 36

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.

Appraisal 52

Appraisal Contracts Real Estate Mortgage 52

Raleigh Realty

AUGUST 27, 2021

Questions To Ask When Buying A House Wondering what questions to ask when buying a house? Here's everything you need to know about buying a home Whether you are a first-time home buyer or a seasoned veteran of the housing market, buying a house is no small undertaking. What Are My Total Costs?

Real Estate Agent 78

Real Estate Agent HOA Real Estate Agents 78

Appraisal Today

OCTOBER 6, 2023

The market area that the property is located in can definitely support the price but does the price truly reflect the market value of that specific property or does it reflect what a super motivated buyer with available funds is willing to pay? The average contract interest rate for 15-year fixed-rate mortgages increased to 6.86

Appraisal 86

Appraisal Contracts Real Estate Mortgage 86

Lamacchia Realty

JULY 22, 2022

Highlighted in this report are the average sale prices for single-family, condominiums, and multi-family homes in Massachusetts along with the number of homes listed for sale, placed under contract, and price adjustments. Pending Home Sales (contracts accepted). The number of homes placed under contract declined 13.7%

Sellers 74

Sellers Buyers Inventory Contracts 74

Appraisal Today

JANUARY 20, 2023

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. What is happening in your market? You may need to call agents to see the amount of concessions offered and make an adjustment based on its effect on market value.

Appraisal 52

Appraisal Contracts Sellers Business 52

Appraisal Today

OCTOBER 7, 2022

If it had a market value of $345k, it would have listed at $345k!”. Three articles about the current housing market “Big Picture” I have three links below showing that markets vary widely around the country. Affordable Midwest and East Coast Markets Are Holding Up Best as the U.S. percent from 6.52

Appraisal 52

Appraisal Contracts Architecture Housing Market 52

Appraisal Today

AUGUST 2, 2024

To claim that any appraisal falling outside a $2,500 margin of the sale price is “inaccurate” is an egregiously narrow and simplistic view that fails to account for the realities of the housing market. from 0.59 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. percent, with points increasing to 0.62

Appraisal 82

Appraisal Valuation Law Contracts 82

Lamacchia Realty

APRIL 15, 2022

When Will the Housing Market Change? So if someone bought a house in early January of 2021 and put 20% down, they would have nearly 40% equity in the home by the end of December. Since early March, about 40% of the homes that are for sale are going under contract within a week. week supply of homes on the market.

Marketing 69

Marketing Sellers Buyers Inventory 69