Appraisal Buzz

AUGUST 16, 2021

Trying to meet deadlines, keep my clients informed, and put out a quality product in this busy market is enough to make my head spin. Lately, though, I’ve been trying to carve out some extra time to find out about what other appraisers are saying and doing in this unusual market. But what offer will the seller accept $400,000.

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Market Value Buyers Appraisal Sellers 448

Cleveland Appraisal Blog

AUGUST 20, 2021

That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. If someone wants to use this method for pricing a home, there is one piece of information that is incredibly important to get right. Information in public records is usually free.

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Appraisal Market Value Contracts Agents 418

Birmingham Appraisal

JUNE 13, 2023

Do provide a packet of information about the property. This will help the appraiser understand the features and characteristics of the property and save them time in researching and verifying the information. Do provide information about comparable sales. Do provide information about comparable sales.

Real Estate Agent 83

Real Estate Agent Real Estate Agents Reconsideration of Value 83

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

Town & Country Residential Appraisals

JULY 29, 2024

Instead, the listing contract and the buyer’s agency contract will contain the agreed compensation, which cannot be published on NAR-authorized sites. Additionally, buyers will now need a signed buyer’s agency contract to have an agent show them a listed property. The standard appraisal answer is that it depends.

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Real Estate Sellers Contracts Market Value 49

Housing Wire

JUNE 11, 2021

Home inspections provide valuable information that can make or break your decision to purchase a home, as well as help you plan for future improvements. If the appraised value ends up matching or is higher than the contract price, the transaction can continue as planned. “Roof leaks, plumbing leaks, and foundation leaks.

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Inspection Appraisal Appraisal Process Buyers 431

Cleveland Appraisal Blog

AUGUST 20, 2021

That way of measuring the market can lead to an opinion of value that is in the ballpark of a home’s market value. If someone wants to use this method for pricing a home, there is one piece of information that is incredibly important to get right. Information in public records is usually free.

Appraisal 262

Appraisal Market Value Contracts Agents 262

Cleveland Appraisal Blog

MAY 26, 2023

(Assuming they made adjustments) Did you consider any relevant market trends or economic factors when determining the property’s value? Can you provide any additional information or documentation to support your appraisal? There are three approaches to value that an appraiser will consider.

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Appraisal Real Estate Agent Real Estate Agents 301

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. Your real estate pro will know the true market value of the home based on recent sales of similar homes in the area.

Contracts 41

Contracts Appraisal Sellers Real Estate Agent 41

Appraisal Today

AUGUST 30, 2024

AI Appraisals: Embracing the Future Appraisal 5 Enormous Mansions, With Wildly Different Architectural Styles—Priced at Under a Million Bucks Is appraisal accuracy measured by contract price? Again, I ask, does contract price equal market value? To read more about the 4 ways, plus information on why I take ads, etc.

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Appraisal Contracts Architecture Mortgage 79

Cleveland Appraisal Blog

MARCH 25, 2023

I hope you find this information helpful! Hopefully, this article has provided you with valuable information and insights on the best practices for choosing a commercial dumpster rental company. However, if you’re thinking of a kitchen demo or remodel, you will likely need a dumpster.

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Supply Chain Appraisal Renovations Market Value 280

Birmingham Appraisal

JUNE 11, 2024

Understanding these “non-traditional” uses can help you, or someone you know, make informed decisions and potentially save money in various situations. The Many Faces of Real Estate Appraisals Real estate appraisals are required whenever the value of a property needs to be determined. Cost does not always equal value.

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Appraisal Property Taxes Valuation Real Estate 84

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. ACCURATE DATA.

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Agents Appraisal Renovations Development 373

Appraisal Today

AUGUST 30, 2024

AI Appraisals: Embracing the Future Appraisal 5 Enormous Mansions, With Wildly Different Architectural Styles—Priced at Under a Million Bucks Is appraisal accuracy measured by contract price? Again, I ask, does contract price equal market value? To read more about the 4 ways, plus information on why I take ads, etc.

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Appraisal Contracts Architecture Market Value 61

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.

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Appraisal Business Contracts Real Estate 76

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

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 83

Town & Country Residential Appraisals

JUNE 26, 2023

When it comes to appraising homes for buyers using VA-backed financing, the Tidewater process plays a crucial role in determining fair market value. Its purpose is to protect the interests of veterans and ensure fair market value. What is the Tidewater process and what is its significance in VA-backed home appraisals?

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Appraisal Market Value Buyers Sellers 36

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

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.

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Appraisal Development Market Value Tenants 279

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. I have done a lot of estate appraisals.

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Appraisal Real Estate Real Estate Agent Contracts 80

Birmingham Appraisal

SEPTEMBER 3, 2024

Agents, eager to please their clients or secure a listing, may set the asking price too high, reflecting the seller’s emotional attachment rather than the property’s true market value. Why It’s a Problem: Overpricing can lead to the home sitting on the market for too long, becoming what we call a “ stale listing.”

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Appraisal Sellers Real Estate Market Value 52

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. I believe that collaboration between these two real estate professionals means that they share information that promotes a transparent and open transaction.

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Agents Appraisal Real Estate Agent Bracketing 91

Appraisal Today

JULY 1, 2023

Reference Guides for the Restricted Appraisal Update Report and Completion Report to provide guidance on entering information and how it will be displayed. Highest and Best Use vs. Market Value By Timothy Andersen, MAI Excerpts: There are numerous definitions of market value. This link has sample appraisals.

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Appraisal Contracts Market Value Mortgage 88

McKissock

JULY 27, 2021

Many survey respondents emphasized the importance of making sure your work is as detailed and well-supported as possible—by means of careful comparable selection and analysis, thorough documentation, and clear explanation of why the available comps do not support the contract price. ” “Market analysis and illustrations.”

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Appraisal Contracts Clients Marketing 109

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.

Real Estate 88

Real Estate Appraisal Marketing Market Value 88

McKissock

JULY 6, 2022

Most of the information that the general public has regarding what constitutes a real estate deal comes from social media, the internet, and real estate shows they see on TV. I would recommend including at least property access, financial outcomes, and potential roadblocks from contract to closing. Expectation 2: Property Access.

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Clients Real Estate Contracts Sellers 87

Cleveland Appraisal Blog

AUGUST 11, 2022

The type and range of information you have to provide in the seller’s property disclosure will, of course, depend on the legal regulations of the state where you have the property. 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.

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Renovations Buyers Appraisal Investing 221

Rowe Appraisal Group

MAY 6, 2020

This blog post goes out to all the Realtors who have had a deal fall through because the appraised value was below the contract price. Some of you may even had multiple offers with most of them were even above the appraised value. Why should an appraiser want to know this information? Absolutely they are!

Realtors 36

Realtors Appraisal Contracts Real Estate Agent 36

Rowe Appraisal Group

MAY 6, 2020

This blog post goes out to all the Realtors who have had a deal fall through because the appraised value was below the contract price. Some of you may even had multiple offers with most of them were even above the appraised value. Why should an appraiser want to know this information? Absolutely they are!

Realtors 36

Realtors Appraisal Contracts Real Estate Agent 36

Appraisal Today

AUGUST 16, 2024

It’s also essential to review the condo declarations and bylaws, inquire about pending critical repairs (whether known by the association or observed), and evaluate the impact on the market value of any special assessments related to these repairs. To read more about the 4 ways, plus information on why I take ads, etc.

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Appraisal Contracts Mortgage Design 68

Eppraisal

FEBRUARY 7, 2023

Of course, the purchaser's plans for the land are factors in its market value. Appraisers can evaluate worth in relation to similar structures and sellers can base their asks on appraised market value. Old liens, ambiguous contracts and local government can throw wrenches into the sale.

Development 69

Development Sellers Legal Home Value 69

Appraisal Today

JANUARY 19, 2024

According to The Decision Lab, anchoring bias is nothing more than a “…cognitive bias that causes us to rely too heavily on the first piece of information we are given about a topic.” An example of this in real estate appraisal is the purchase and sale contract. In and of itself, it is not market value. percent from 6.81

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Appraisal Contracts Real Estate Architecture 76

D Fritz Appraisals

FEBRUARY 22, 2023

It represents the difference between what they owe on their home and its current market value. This makes it ideal for ongoing projects but may come with higher interest rates than other borrowing forms of borrowing so make sure you understand all the details before signing any contracts. What Is Home Equity?

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Real Estate Investing Appraisal Market Value 126

D Fritz Appraisals

MARCH 16, 2021

The benchmark for your home’s worth, an appraisal is a legal document that determines the fair market value of a property. To prepare, gather up all the details about your home relevant to its value. Have a record of comparable properties in the neighbourhood, plus information about neighbourhood amenities.

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Appraisal HOA Easement Valuation 129

Cleveland Appraisal Blog

MAY 27, 2021

While it may seem like many buyers don’t care about what the market value of a home is, I think that we must be careful to not make that assumption. There is a lot of information that an appraisal can provide, which can be helpful to lenders and homeowners. MARKET TRENDS. I hope you enjoyed that musical interlude!

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Market Value Appraisal Buyers Marketing 418