Cleveland Appraisal Blog

JUNE 25, 2021

What is the primary reason a newly built home has a higher market value than the same home that is older? Simply stated, it is loss in value. Physical depreciation is the most common cause of loss of value. Even if they are completely renovated, they are still not considered to be new. In a word, depreciation.

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Market Value Appraisal Marketing Buyers 244

Cleveland Appraisal Blog

JULY 22, 2021

My family and I are in the midst of a first floor renovation, whilst caring for my wife as she continues to recover from her broken ankle, as I mentioned in my last post. Going through a major renovation helps me to appreciate some of the great points made here. . Tackling Electrical Projects.

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Renovations Appraisal Home Improvement Client Relationships 243

Housing Wire

JUNE 7, 2024

To help, I’ve compiled the 11 most effective strategies that my coaching clients and I have personally used to find more listings and create inventory. Market data about the area, an invitation to an upcoming open house, or info about a coming soon listing nearby are all great items of value. Who’s it for?

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Real Estate Open Houses Agents Sellers 468

Cleveland Appraisal Blog

MARCH 4, 2021

There’s value in that. Subsequently, a new home typically has a higher market value than one that has already been lived in. In it, I provide short episodes that provide you with stats on median sales prices, marketing times, housing inventory and other related stats, on specific neighborhoods in Northeast Ohio.

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Appraisal Real Estate Real Estate Agent Loan Conditions 224

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or a galley kitchen does not align with current market preferences for homes of a similar age, it might be considered outdated and impact marketability. Worth reading.

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Appraisal Training Contracts Mortgage 91

McKissock

MARCH 1, 2021

Some want me to summarize the market data and give concise guidance on market values. Q: What obstacles are Millennials facing in the Boston real estate market? A: The obstacles Millennial real estate buyers face for owning a home in the Boston market come down to low inventory.

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Real Estate Clients Real Estate Agent Renovations 90

Padove Appraisal Service

JANUARY 14, 2018

The first step in evaluating the physical condition of a property is to take inventory of all its updates. A house that was built 80 years ago, with many significant improvements completed over the past 20 years (such as kitchen and bathroom renovations, roof and window replacement, heating and air conditioning replacement, etc.)

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Home Improvement Appraisal Construction Renovations 78

Eppraisal

OCTOBER 31, 2023

 Better yet, use a real estate agent to do a comparative market analysis and calculate your home’s value impartially. Appraisal Mortgage lenders use home appraisal reports to make credit decisions, so hiring an appraiser can help you learn about your home’s current market value more objectively.  This

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Marketing Real Estate Agent Real Estate Valuation 69

Patch of Land

APRIL 4, 2018

7 Cities with Higher Inventory. Realtor.com’s annual survey for 2018 highlights the top 100 cities where there has been significant sales growth, price increases, and higher inventories among other factors. Utica, NY – 57% average discount off market value. Columbus, GA – 52% average discount off market value.

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Market Value Renovations Real Estate Inventory 33

Appraisal Today

MAY 17, 2024

NOTE: Please scroll down to read the other topics in this long blog post on Geographic Data and Comps, effect of renovation on value, very low foreclosures now, current real estate market, unusual homes, mortgage origination stats, etc. = = $99.5M It’s important to understand the difference between updates and renovations.

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Tools Appraisal Renovations Design 71

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

Listing Spark

SEPTEMBER 23, 2024

Use keywords effectively : Include terms that buyers might search for, such as “open floor plan,” “recently renovated,” or “close to schools.” Identifying and highlighting these can set your property apart in a crowded market. Watch market conditions : Keep an eye on local real estate trends.

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Buyers Modernization Real Estate Agent Real Estate 68

AmeriMac

AUGUST 15, 2024

For example, in a seller’s market where demand is high and homes are few, property values usually go up because buyers are competing for the few available homes. On the other hand, in a buyer’s market with lots of homes but fewer buyers, prices can stay the same or even drop.

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Housing Wire

JULY 21, 2021

“The first house I rehabbed last year, it was a house that had fire damage in the kitchen, and it was just kind of an eyesore on a nice quiet street,” said McCormick, who said she purchased the home for $25,000 and then put $65,000 into renovations before selling to an owner-occupant buyer for $134,000. “It of the 2021 estimated market value.

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Real Estate Investors Market Value Home Value 488

Appraisal Today

FEBRUARY 16, 2024

So, don’t say something open ended like: “the intended use is to provide a fair market value of the property.” This totally renovated 5 bedroom home is tucked in the woods on a secluded cul-de-sac. The appraisal should not be used for any other purpose.” baths, 2,973 sq.ft., built in 1971, 0.34

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Appraisal Contracts Training Architecture 89

Will Springer Realtor

FEBRUARY 13, 2025

Some believe this has more to do with policy changes aimed at helping increase inventory. Its important to note that in King County, property taxes are based on assessed value, not the actual sale price. That said, the price is often used as a key indicator of market value for future assessments. acres in Clyde Hill.

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Property Taxes Design Buyers Market Value 36

Housing Wire

DECEMBER 12, 2024

Institutional sellers at distressed property auctions have gradually lowered pricing over the last six months as rising retail inventory and stubbornly high mortgage rates act as twin headwinds for buyers purchasing at these auctions. The after-repair value is the estimated full market value of a property in fully repaired condition.

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