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While inventory levels are still low, at around a month and a half of inventory, in some smaller market areas in Cuyahoga County, and surrounding counties, I am seeing inventory levels increase rapidly in the past month. Inventory levels are increasing in this market area. Inventory levels are also increasing.
Have you heard of a property being overimproved, or super adequate? Unless you’re in the propertyvaluation profession, you may not have. Here are some links to other articles I think you might also enjoy… Fishing For Housing Inventory – Housin g Notes by Jonathan Mille r How Was The Housing Market in 2022?
Whether the plan is to sell the property, pass it on to the designated heir(s), or estimate how much obligatory taxes will be paid on the estate, it is important to know the exact worth of the property at the time of the owner’s death. Knowledge Is Power: A Summation of the Estate Valuation Process. What Is an Estate Appraisal?
The unprecedented buyer demand of 2021 will likely be suppressed to some extent due to affordability concerns in some markets, and more housing inventory will most likely be available from both the existing homes and new construction segments.”. “Mortgage rates are expected to rise, but still remain attractive and reasonable.
However, from the perspective of the valuation profession, this isn’t an accurate question. We don’t provide an appraised value of a property. Instead, we provide an informed, objective opinion of the value of the property based on several factors and criteria as well as the type of value we’re asked to provide.
With that in mind, I wanted to start sharing some stories, some from me and hopefully, many from you, my readers that showcase some of the positives that we see and participate in as realproperty valuers. I am calling this series Real Value. The husband walked around with me while I did my exterior inventory.
Among the rights that come with realproperty ownership is the right to exclude others. When oceans, lakes, bayous, estuaries, rivers, streams, and ponds are involved, this right is a large part of what property purchasers are paying for. By John Dingeman, Chief Appraiser Class Valuation. To read more, click here.
Moreover, appraisers must conduct each of the four tests on the realproperty as if vacant, and as improved. Applying each of these tests properly is essential to the valuation process. Order doesnt matter for the first two tests, but its essential for the last two. The refinance share of mortgage activity decreased to 38.7
This also opens the door for pushback on related changes, such as the expansion of the Nondiscrimination rule of the Uniform Standards of Professional Appraisal Practice, or the addition of valuation bias education to the RealProperty, to the extent that either of these would include content that goes beyond what exists in statute already.
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