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New warning lights for rising home prices. Home prices are crossing the line again. After an epic housing crash, where values plummeted nationally by almost 35 percent, the nation is seeing new highs again. The median price of an existing home sold in May hit a record $239,700, according to the National Association of Realtors, which began tracking prices in 1968. “We are seeing flashing yellow lights on affordability.
By Tom Horn Time to complete an appraisal can varyThe most common question I get after leaving a home on an appraisal assignment is about how long it will take to complete an appraisal and get the report back. This is understandable since the owner or buyer is nervous and might worry that their house may not appraise for what they think it should. The length of time it takes to complete an appraisal will vary depending on many factors which we’re going to discuss today.
Concessions listed on comparable sales are an important factor that an appraiser needs to weigh when performing an appraisal. Most appraisal forms, including the government standard 1004 URAR, has a section in the sales comparison grid to list, and adjust for, any concessions made on the sale of that property. Depending on the amount of the concession, and what is typical within the market area, they can have a drastic impact on the adjusted value.
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Finance teams find Trellis to be particularly effective in conducting comprehensive due diligence on both individuals and businesses. With our court data solution, financial experts can access critical litigation insights, making it an invaluable resource for informed decision-making in the financial sector.
In the world of real estate, it is very common for homes to be valued by their square footage. Understanding the way a price is set per square foot and how it works is seeing and understanding the market value of properties. The Square Footage Within A Neighborhood: There is never one price per square footage within a neighborhood. There are other factors that are taken into consideration.
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