Housing Wire

JULY 8, 2024

An historic home in Chicago ’s Austin neighborhood designed by architect Frank Lloyd Wright in 1903 is in serious need of repairs and renovations, but an existing reverse mortgage loan is complicating the process of initiating the work.

Mortgage 309

Mortgage Design Architecture Market Value 309

Cleveland Appraisal Blog

MARCH 30, 2021

So many visitors have stopped by over the years, that they renovated the area to make it more visitor friendly, with better parking and a nicer observation area. Within the past couple of weeks, I have appraised several properties for purchases, where my opinion of the market value of these homes was significantly below the contract price.

Housing Market 367

Housing Market Marketing Reconsideration of Value Contracts 367

Cleveland Appraisal Blog

AUGUST 11, 2022

For some homeowners, extensive renovations can present a challenge in terms of time and finances, particularly if you plan to move out of your home soon. Going for an as-is home sale eliminates the need for a lengthy renovation process. Moreover, buyers sometimes prefer to renovate the home according to their taste.

Renovations 221

Renovations Buyers Appraisal Investing 221

Simonson Real Estate

JULY 10, 2020

New construction or planned renovations – Actual construction cost statements, plans, material specifications, etc. Value Scenarios. What is Market Value As Is and When is it Used? The estimate of the market value of real property in its current physical condition, use, and zoning as of the appraisal date.

Appraisal Process 148

Appraisal Process Appraisal Market Value Tenants 148

Simonson Real Estate

DECEMBER 6, 2022

In 2022, Simonson Appraisals completed a steady stream of financing assignments with planned new construction or significant proposed renovations. On several occasions, we were presented information about construction or renovation plans well after the initial assignment was started. Clarify What Value or Values are Needed.

Appraisal Process 78

Appraisal Process Real Estate Appraisal Renovations 78

Appraisal Hub

OCTOBER 16, 2024

A property appraisal is a detailed evaluation of your home’s market value conducted by professional appraisers. Appraisal companies use their knowledge of the local market and factors like size, location, and condition to accurately estimate what your home is worth today. What is a Property Appraisal?

Property Appraisal 78

Property Appraisal Appraisal Renovations Market Value 78

Realvals

JUNE 18, 2023

This helps them determine the loan-to-value ratio and assess the risk associated with financing the property. An appraisal will provide you with the current market value of your real estate. An appraisal report provides you with the insights you need to better understand your property and the current market conditions.

Appraisal 145

Appraisal Property Taxes Real Estate Market Value 145

Lamacchia Realty

AUGUST 12, 2021

Fixer-uppers tend to be popular among real estate investors as well as first-time homebuyers as they present an opportunity to buy below market value. By making updates, the buyer is able to meet or exceed current market standards and build equity in their property faster. How Much Time Do They Take to Renovate?

Renovations 69

Renovations Finance Inspection Buyers 69

Appraisal Partners Blog

JANUARY 31, 2024

Whether you are purchasing a home, looking to refinance, considering a home improvement, settling an estate, or divorce, We’ll he­lp you determine your home’s fair market value. Here are some key advantages: Fair Market Value Through an appraisal, the genuine marke­t value of a house is figured out.

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Appraisal Property Appraisal Market Value Real Estate 78

Eppraisal

JUNE 18, 2024

Last week we published a post on the type of renovations one needs to make before selling their 20-25 year old house. " Making your property look as modern as possible can potentially help attract more potential buyers and increase your home’s value. If they’re in high demand, renovations might be unnecessary.

Renovations 68

Renovations Real Estate Agent Investing Buyers 68

PennyMac

NOVEMBER 21, 2024

Additionally, an important factor that plays a role in how much equity you build is the market value of your home. Today’s Market Value and Your Home Equity Home equity is tied to your home’s current market value. As your home’s value changes, so does your equity.

Renovations 69

Renovations Home Value Market Value Mortgage 69

Glascock Company

DECEMBER 11, 2020

Sellers choose the auction date, and it typically ends in a market-value return on the date set for bidding (usually around 30 days or less). With a set deadline for the auction, all showings and marketing efforts must also occur within that time frame. There are No Contingencies. That’s right!

Sellers 78

Sellers Inspection Real Estate Buyers 78

Birmingham Appraisal

JUNE 11, 2024

Smooth Transactions: An accurate appraisal helps ensure that when your home goes under contract, its value won’t become a stumbling block in the sales transaction. This minimizes the risk of deals falling through due to financing issues. Cost does not always equal value.

Appraisal 86

Appraisal Property Taxes Valuation Real Estate 86

The Robert Weiler Company

JULY 6, 2021

They have usually been constructed over 20 years ago and require renovation at this point. An investor can either put money in through value-add projects to update the building or seek residential and mixed-use conversion options. Class A properties sell themselves, and Class B and C’s can be renovated to cater to a target market.

Logistics 147

Logistics Tenants Real Estate Modernization 147

Birmingham Appraisal

JUNE 21, 2023

Appraisals provide an objective assessment of a property’s worth, ensuring accurate market value and facilitating successful transactions. Condition: The overall condition of a property, including its structural integrity, maintenance, and any necessary repairs or renovations, affects its appraisal value.

Real Estate Agent 82

Real Estate Agent Real Estate Agents Appraisal 82

Town & Country Residential Appraisals

SEPTEMBER 29, 2019

In home valuation language they are trying to buy under improvements for the neighborhood, which are usually a good deal, and below market value, but then there is the second half. A “dream home'“ is often code for “over improvement for the neighborhood,” and typically see lower market values compared to their costs.

Renovations 46

Renovations Market Value Valuation Appraisal 46

Birmingham Appraisal

NOVEMBER 14, 2023

Agents and appraisers are not that different in their desire to determine an accurate market value for a property. The contract price and appraisal value will need to line up or the buyer will not be able to get a loan to pay for the property. When all else is equal with a property, those that are larger will sell for more.

Market Value 92

Market Value Agents Appraisal Bracketing 92

Realtor

DECEMBER 15, 2016

To do a home appraisal, an appraiser considers these main criteria: location, structural condition, additions or renovations, and recent sales of comparable homes, or comparable sales. 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

To do a home appraisal, an appraiser considers these main criteria: location, structural condition, additions or renovations, and recent sales of comparable homes, or comparable sales. 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

Berkshire Hathaway

AUGUST 30, 2022

Are you looking for a move-in ready rental property or are you willing to consider a home that requires renovations? Besides the purchasing price, your budget should also include other costs such as renovations, structural and environmental assessments, downtime during transitions, legal fees, realty commissions, taxes, and contingencies.

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Buyers Legal Fees Real Estate Renovations 49

AmeriMac

JUNE 30, 2024

Home appraisals are done by licensed appraisers trained in valuing real estate properties. They provide an unbiased assessment of a property’s value. Appraisers work independently and focus on determining fair market value, separate from the buying or selling process.

Appraisal 36

Appraisal Renovations Mortgage Inspection 36

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.”

Appraisal 52

Appraisal Sellers Real Estate Market Value 52

Town & Country Residential Appraisals

SEPTEMBER 26, 2022

If you plan on selling your home, you have two options- either contract a real estate agent to properly help you price and market the home or get an appraisal so that you can maximize your income from the sale. In cases where a buyer is using financing, there is a built in fail safe because the lender is going to require an appraisal.

Appraisal 50

Appraisal Renovations Real Estate Valuation 50

On Q Financial

MARCH 4, 2022

Wondering How to Finance Your Next Investment? The prices at foreclosure auctions are typically much lower than the market value of similar properties. It could be a good deal if there aren’t too many issues to fix up, and you can make the home your own through renovations! Have your finances in order.

Buyers 68

Buyers Finance Investing Real Estate 68

PennyMac

OCTOBER 10, 2023

A home appraisal is an unbiased report on the value of your home performed by a trained and state-licensed individual. Appraisals are an essential part of the home financing process, ensuring the homebuyer, seller and mortgage lender each have an impartial, consistent and accurate assessment of the value of the property under consideration.

Appraisal 69

Appraisal Real Estate Agent Renovations Home Value 69

AmeriMac

JUNE 15, 2024

Key Highlights Real estate investment properties require accurate appraisals to determine their market value and potential return on investment. Making improvements to the property can positively impact its appraisal value and attract potential buyers or tenants.

Property Appraisal 36

Property Appraisal Investing Appraisal Property Taxes 36

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. Wait for the Appraisal The lender will hire an appraiser to determine the house’s fair market value. The question is — will you move on or keep pursuing a deal?

Real Estate Agent 69

Real Estate Agent Sellers Inspection Real Estate 69

Property Metrics

APRIL 7, 2022

Then we’ll look at how to calculate the yield on cost for a value add project. Finally, we’ll take a look at how to calculate the yield on cost for specific construction or renovation projects. This is unlevered because it is calculated before taking into account any debt financing. Does this value-add project make sense?

Renovations 41

Renovations Development Real Estate Tenants 41

Round Rock Appraisal

MARCH 28, 2015

Cash buyers are not looking into financing, but caution is still be practiced. The actual layout of a home can play a pretty important part of market value. Would you be doing your own renovation over a period of time? Will your renovations bring the property up when it’s time for you to sell? Property Taxes.

Buyers 36

Buyers Appraisal Renovations Property Taxes 36

AmeriMac

MAY 24, 2023

A commercial real estate appraisal involves determining the value of a property, which is important for financing, taxation, and sales transactions. Appraisers use various methods such as the income capitalization and sales comparison approach to assess the property’s physical condition, location, and market trends.

Real Estate 36

Real Estate Appraisal Appraisal Process Valuation 36

Assurance Financial

DECEMBER 20, 2021

According to Freddie Mac, almost 90% of American homeowners finance their homes with a 30-year mortgage. The home’s gains in market value. The cost of renovations or improvements the seller made to the house. This option may require some extra steps and additional help with financing the purchase.

Mortgage 74

Mortgage Sellers Buyers Finance 74

Birmingham Appraisal

OCTOBER 9, 2024

If you’re an agent managing a listing and struggling to generate offers despite favorable financing conditions, you’re not alone. An appraiser can provide an unbiased valuation based on market conditions, comparable sales, and the unique characteristics of the property.

Buyers 69

Buyers Appraisal Agents Sellers 69

Property Metrics

AUGUST 13, 2020

A liquid asset is one that can be sold immediately at market value. If an owner had to sell a piece of real estate by the end of the day, chances are that it would be for a price far below market value. The degree of illiquidity varies according to location, property type, and market cycle. Liquidity Risk.

Real Estate 53

Real Estate Tenants Investing Construction 53

Quicken Loans

MAY 18, 2021

If the house is being passed to heirs, they will have to pay taxes on the fair market value of the property out of the funds and assets in the estate. Consult a tax adviser to go over your options for determining fair market value. Capital Gains Taxes. Step Up In Basis.

Landlords 55

Landlords Decorating Market Value Mortgage 55

AmeriMac

NOVEMBER 15, 2024

The appraiser is a neutral third party who honestly assesses the home’s market value. The estimated value from this appraisal is essential for getting financing and helps make the real estate transaction go smoothly. They give an objective view of a home’s value. This is very important in New Albany.

Appraisal 36

Appraisal Appraisal Process Real Estate Market Value 36

Cornerstone

AUGUST 17, 2021

percent of mortgaged residential properties in the United States were considered equity-rich in the second quarter, meaning that the combined estimated amount of loans secured by those properties was no more than 50 percent of their estimated market value. Plus, your finance charges may be higher over the life of the loan.

Mortgage 46

Mortgage Renovations Loan Officers Home Value 46

AmeriMac

APRIL 30, 2023

An appraisal provides detailed information about your home and its condition, including its interior and exterior structure, and the factors affecting its market value. Additionally, it can also give a homeowner insight on any repairs or renovations that could increase the property value before selling.

Appraisal 36

Appraisal Valuation Appraisal Process Renovations 36