McKissock

JANUARY 31, 2023

.” “There is a lot of research and number crunching to do, so asking for a value at time of inspection is a no go.” ” Appraisers do not assign value “Appraisers do not dictate a home’s value, the market does.” ” “That we research value, we do not assign it.”

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McKissock

JANUARY 14, 2022

The standard appraisal report’s definition of market value refers to “typical buyers,” most of whom would become acutely aware of such odors right at the door, and when it’s significant will either walk away or discount their offering price. An intense dog odor permeated the house.

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Chicagoland Appraisal Blog

MAY 13, 2021

Like any other investment, you want to know its value with some reliable degree of accuracy. A home appraisal is an unbiased opinion of a home or property’s value. Real estate professionals or other appraisal experts can help you determine the market value of your home. What Is the Home Appraisal Process?

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Assurance Financial

APRIL 29, 2021

If you plan to buy a home or refinance an existing mortgage, you’ll likely encounter mortgage loan terms and definitions that may be unfamiliar — especially if you’re buying a house for the first time. Use the home loan glossary below to get familiar with terms and definitions that might be new to you. Fair Market Value.

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AmeriMac

DECEMBER 30, 2023

We will start with the definition and purpose of these appraisals, followed by how they work, the factors considered in them, and preparing for an appraisal. We will also discuss what happens if an REO appraisal is low and how it impacts property value. This post will cover everything you need to know about REO appraisals.

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Appraisal Today

AUGUST 30, 2024

This technology accelerates the inspection process, allowing appraisers to focus their expertise on more nuanced aspects of the valuation where their experience and judgement are most critical. Again, I ask, does contract price equal market value? Such a “definition of “accuracy” is both misleading and dangerous.”

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Appraisal Today

AUGUST 30, 2024

This technology accelerates the inspection process, allowing appraisers to focus their expertise on more nuanced aspects of the valuation where their experience and judgement are most critical. Again, I ask, does contract price equal market value? Such a “definition of “accuracy” is both misleading and dangerous.”

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AmeriMac

MAY 30, 2024

Traditionally, appraisals required physical inspections of the property, where appraisers would visit the site to assess its condition and gather relevant data. ” Desktop appraisals have become increasingly popular in recent years, especially in the real estate market, due to their efficiency and accuracy in valuing properties. .”

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AmeriMac

JANUARY 17, 2022

However, it isn’t necessarily accurate and shouldn’t be used for appraisals for a number of reasons that are definitely worth a closer look. At its core, a home appraisal is a process wherein a trained, licensed professional will come to a home and make a determination of its fair market value. What Is an Appraisal?

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AmeriMac

DECEMBER 15, 2021

These appraisals are typically conducted by licensed and certified experts and are based on, among other things, similar homes in the same neighborhood and other factors pertaining to the market. When someone talks about the fair market value of a house, they’re not really talking about a specific dollar amount.

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AmeriMac

DECEMBER 15, 2021

These appraisals are typically conducted by licensed and certified experts and are based on, among other things, similar homes in the same neighborhood and other factors pertaining to the market. When someone talks about the fair market value of a house, they’re not really talking about a specific dollar amount.

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Rowe Appraisal Group

MAY 6, 2020

Bring him copies of the offers to the inspection. If a home was only listed on the MLS for 5 days and has multiple offers, it most likely indicates that the list price is at or below market value. Maybe I need to look deeper at the current market conditions. Why should an appraiser want to know this information?

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Rowe Appraisal Group

MAY 6, 2020

Bring him copies of the offers to the inspection. If a home was only listed on the MLS for 5 days and has multiple offers, it most likely indicates that the list price is at or below market value. Maybe I need to look deeper at the current market conditions. Why should an appraiser want to know this information?

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Appraisal Today

OCTOBER 6, 2023

This covers all Definitions, Rules, and Standards. Fannie Mae sees the appraisal process as “inspection + value.” Yet, the idea of sitting at the desk and relying on some stranger to gather the nuances of the property to generate a value is wildly flawed. We also have a new product launching this year.

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Assurance Financial

MAY 18, 2022

You might be surprised at what counts as “rural” under the USDA’s definition, so unless you want to buy a home in a metropolitan area, it can be worthwhile to check the USDA’s eligibility map to see if your location qualifies. During the appraisal, the appraiser will determine more than the market value of the home.

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AmeriMac

NOVEMBER 15, 2021

By far, equity is one of the most important ways to preserve someone’s wealth because in theory, a home should always appreciate in value over time. Therefore, as the fair market value of the home goes up while the amount remaining on the mortgage goes down, equity continues to build over the years.

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AmeriMac

NOVEMBER 15, 2021

By far, equity is one of the most important ways to preserve someone’s wealth because in theory, a home should always appreciate in value over time. Therefore, as the fair market value of the home goes up while the amount remaining on the mortgage goes down, equity continues to build over the years.

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Listing Spark

DECEMBER 9, 2020

With that said, most buyers purchasing a home expect to have a survey provided to them if they are paying fair market value for the home. This by definition is the buyer asking for a lump sum of money from the seller to pay for their closing costs at the time of closing. This generally ranges in cost between $500-$600.

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Lifestyle Properties of Maine

AUGUST 6, 2019

Definition of Appraisal The first thing to know in this process is what is an appraisal? “An appraisal is a licensed appraiser's opinion of a home's market value based on comparable recent sales of homes in the neighborhood.” Some people confuse a real estate appraisal with a home inspection.

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Quicken Loans

JUNE 3, 2021

After a homeowner accepts an offer, the iBuyer will set up and pay for a home inspection. The home buyer is responsible for scheduling and paying for an inspection and appraisal of the property. iBuyers insist that these calculations provide them with fair market values of homes. iBuying FAQs. Which iBuyer Is Best?

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Cleveland Appraisal Blog

MAY 13, 2021

And right now, many buyers are forced to bring cash to the table to make up the difference between what the home’s market value is determined to be, and the contract price. It may still be worth it to the buyer to move forward, despite paying more than market value. . What is solid support for market value?

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Clear Capital

SEPTEMBER 29, 2021

So it’s something that is definitely worth further investigation. And Ribbon is actually company we’ve been definitely keeping our eye on — doing some some super cool things out there in the industry, helping buyers be more competitive in the marketplace. The home inspection took longer. Jeff Allen.

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Assurance Financial

NOVEMBER 9, 2021

Buyer’s vs. seller’s markets are a matter of supply and demand. At its base, the housing market is relatively simple to understand, but there’s more that goes into it than these basic definitions. There are three primary differences between each of these market types. Power Dynamic.

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AmeriMac

JULY 15, 2024

Definition and Types of Alternative Appraisal Products Alternative appraisal products use modern technology and data analysis to determine property values differently than traditional methods. Previously based on personal opinions and physical inspections, the process now includes automated valuation models and broker price opinions.

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Appraisal Today

JANUARY 5, 2024

Arouse the suspicion of an entire neighborhood when inspecting comparable sales. 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. Chance to really irritate annoying real estate salespeople.

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Housing Wire

FEBRUARY 19, 2025

Thats why having a definitive homebuying checklist is an essential part of your agent toolkit. Clarify key steps like inspections, appraisals, and the importance of meeting deadlines and any impacts of missing them. Let your clients know how the market will impact competition, home values, and the overall buying strategy.

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Appraisal Today

MARCH 21, 2025

So one main difference between traditional lender appraisals and relocation appraisals is the forecasting aspect: whereas lender appraisals determine a current market value, relocation appraisals try to project what the sales price WILL be. You definitely needed to be nice, not rush through the inspection, dress professionally, etc.

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