Cleveland Appraisal Blog

MAY 26, 2023

They will analyze market conditions and they will look for comparable sales that have sold in the area of the subject property in recent months. They then use a price-per-square-foot method to determine the asking price for the property. If they end up too high, the home will likely sit on the market until the price is reduced.

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Appraisal Real Estate Agent Real Estate Valuation 305

Simonson Real Estate

JULY 10, 2020

An appraisal is an objective, impartial, and unbiased opinion about the value of real property prepared by a State Licensed or Certified professional appraiser. Under fee simple ownership, a property owner may occupy the property and have the right to sell, lease, mortgage, or give an interest away. Note that U.S.

Appraisal Process 148

Appraisal Process Appraisal Market Value Tenants 148

Cleveland Appraisal Blog

SEPTEMBER 2, 2022

The appraiser will determine which of the values is most appropriate and reflective of demonstrating the market value of the property being appraised. Once this happens, the appraiser will explain which approach to value was given the most weight, or consideration, and why. None were great.

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Appraisal Development Valuation Market Value 342

Cleveland Appraisal Blog

DECEMBER 10, 2022

If you’re going to go for an unusual look, make it easy to undo before putting your home on the market. #6 However, I have never found that an annoying neighbor really has any impact on market value. I covered this topic in my article, “Is Your Crazy Neighbor Lowering Your Home’s Value.”

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Appraisal Buyers Renovations Investing 302

Cleveland Appraisal Blog

JANUARY 19, 2023

The Appraisal of Real Estate, fifteenth edition on page 352, states that “…the relationship between land and improvements and the relationship between a property and its environment must be in balance for a property to achieve its optimum market value. Sometimes, this is a difficult question.

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Appraisal Transportation Buyers Property Appraisal 288

Housing Wire

MAY 26, 2023

Then, posing as the property owner, the scammer contacts a real estate agent to list the property. The property is then listed, typically below market value to generate interest in the listing. When it comes to close on the sale of the property the scammer will request a remote notary signing.

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Sellers Real Estate Realtors Real Estate Agent 397

McKissock

APRIL 30, 2021

Sales due to a job relocation, estate settlement, foreclosure, or divorce may sell for less than the property’s market value. Remember, in general, market value is defined as the most probable price a property should bring in a competitive and open market. Non-arm’s length sale. Arm’s length sale.

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Market Value Real Estate Appraisal Sellers 88

DataMaster

JUNE 15, 2023

However, the GSEs did not make a parallel change to the property qualification side of the lending decision. While STR Income is allowed on the borrower’s income statement, the market rents for the collateral still needed to be based on longer-term leases. The purchase of real property for the purpose of investment is not new.

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Appraisal Tenants Investors Business 148

Birmingham Appraisal

MAY 28, 2024

I thought I would take some time in this week’s blog post to explain the process you can take to appeal your high real property tax assessment if you think they are too high. These assessments are based on various factors, including the property’s size, location, condition, and comparable sales in the area.

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Property Taxes Market Value Appraisal Real Property 82

Simonson Real Estate

DECEMBER 6, 2022

Under fee simple ownership, a property owner may occupy the property and also has the right to sell, lease, mortgage or give an interest away. Examples: Owner occupied properties don’t have a lease in place and so the property is appraised based on market rents. Clarify What Value or Values are Needed.

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Appraisal Process Real Estate Appraisal Renovations 78

Appraisal Partners Blog

JANUARY 31, 2024

In the ever-changing re­alm of real property, knowing the e­xact worth of your property plays a significant role. However, the appraisal of residential property involves several detailed steps and considerations. Understanding the Basics So, why do you need an appraisal for your residential property?

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Appraisal Property Appraisal Market Value Real Estate 78

McKissock

AUGUST 13, 2021

For a typical “as-is” Market Value assignment with a straightforward contract with no contingencies or conditions, there is probably nothing that an appraiser actually needs to see. If a property appraises for $200,000 for a refinance, then it is still a $200,000 property for a sale transaction.

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Contracts Appraisal Market Value Real Estate 64

Eppraisal

FEBRUARY 7, 2023

Owning raw land has real potential along with its share of pitfalls. Whether you decide to hold it and sell when real property values climb or -- alternatively -- develop the lot to convey at a higher price, you are subject to forces of market, timing and competition.

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Development Sellers Legal Home Value 69

Boston Appraisal

JUNE 24, 2019

Although we can rejoice that the green building movement is becoming more mainstream, the question of whether or not this energy source and other green features add value to a property is still up in the air. Property owners are often surprised when the time comes to estimate the fair market value of their green building.

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Appraisal Market Value Real Estate Technology 78

Boston Appraisal

MAY 27, 2019

And because real estate properties are usually the most significant financial asset of the deceased, establishing their fair market value is a priority. If the estate is going through probate, an accurate inventory of the decedent’s possessions—including any real estate properties—is required.

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Appraisal Real Estate Valuation Market Value 78

Appraisal Today

AUGUST 9, 2024

Market Value and Appraised Value: Exploring Various Appraisal Values By Jo Traut Excerpts: You’ve probably been asked about the difference between “market value and appraised value” by clients seeking a mortgage. We don’t provide an appraised value of a property.

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Appraisal Reconsideration of Value Insurance Market Value 74

Town & Country Residential Appraisals

MAY 8, 2023

For example, if the contract includes provisions for concessions, non-real property items included in the sale, or other unusual conditions, the appraiser may need to comment on these provisions in the appraisal report to explain why there is a difference between the indicated market value of the subject property and the contract price.

Contracts 54

Contracts Appraisal Real Estate Property Appraisal 54

McKissock

SEPTEMBER 10, 2020

Again, an appraiser looking to specialize in these property types, should become very familiar with the ongoing litigation related to properties with intangibles. Special purpose property tips. Before you accept a review appraisal assignment for a special purpose property, here are some tips to guide your decision: 1.

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Appraisal Valuation Real Estate Design 54

Walitt Solutions

MAY 24, 2024

My market value conclusion came in below the purchase contract price. Now, a few weeks later, the parties have signed an addendum to the contract to match my value conclusion; the client has sent me that addendum. So, the contract price changing does not require the appraiser to consider this situation a new assignment.

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Contracts Appraisal Clients Market Value 74

DataMaster

JUNE 15, 2023

However, the GSEs did not make a parallel change to the property qualification side of the lending decision. While STR Income is allowed on the borrower’s income statement, the market rents for the collateral still needed to be based on longer-term leases. The purchase of real property for the purpose of investment is not new.

Appraisal 78

Appraisal Tenants Investors Business 78

Empire Appraisal Group

AUGUST 12, 2021

Many characteristics affect the appeal, marketability, and value of a property. Note: Floor plan functionality may affect marketability and value. From an appraiser’s perspective, however, areas excluded from the calculation may still contribute substantially to the appeal, marketability, and value of the property.

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Sellers Appraisal Development Construction 78

Appraisal Today

SEPTEMBER 20, 2024

Value is defined in the Uniform Standards of Professional Appraisal Practice (USPAP) as: “The monetary relationship between properties and those who buy, sell, or use those properties, expressed as an opinion of the worth of a property at a given time. Unlike value, price is not an opinion. What is Sale Price?

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Appraisal Business Contracts Real Estate 82

Empire Appraisal Group

JULY 1, 2021

It’s imperative that agents not only understand the fundamentals of the appraisal system but also follow the best practices for communicating with appraisers, especially while navigating today’s market. Bradley says some real estate pros give her a spreadsheet of the multiple offers on the property. “We

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Agents Appraisal Real Estate Realtors 78

McKissock

SEPTEMBER 24, 2021

Exposure and Marketing Time in Focus – A Closer Look (Recorded webinar). Every appraiser is familiar with the terms “marketing time” and “exposure time,” but it’s not always clear why and how these are developed in everyday assignments when developing an opinion of market value of real property.

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Appraisal Real Estate Development Market Value 52

Town & Country Residential Appraisals

JULY 25, 2022

At the end of every on site appointment, I tell the person I meet at the property that this is the easiest and least time consuming part of the appraisal process. The portion of the process that no one sees, is the market data analyzing, the report writing and the overall analysis of the property in relation to value.

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Real Estate Training Appraisal Inspection 58

AmeriMac

SEPTEMBER 24, 2024

In real estate transactions, the appraisal process is critical. It helps determine a property’s market value. An appraisal is an expert’s view of how much a property is worth. The expert looks at factors like location, condition, and nearby property sales. When Do You Need a Rebuttal Appraisal?

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Appraisal Valuation Property Taxes Real Estate 36

Will Springer Realtor

FEBRUARY 27, 2024

The “owners” want to urgently sell the property – often below the true market value – simply to move the sale along quickly and reap the financial reward.

Real Estate 62

Real Estate Sellers Real Estate Agent Technology 62

McCarthy Appraisal Blog

SEPTEMBER 4, 2018

The two basic licenses are Certified Residential Real Property Appraiser and Certified General Real Property Appraiser. Loan officers are typically looking for an assessment of the condition of the house and a rough market value to put on the mortgage documents. Evaluate the appraiser’s experience.

Real Estate 36

Real Estate Appraisal Valuation Loan Officers 36

Property Metrics

DECEMBER 10, 2021

1031 ), which defines the conditions for tax deferral on the sale of real estate. In other words, taxes can be deferred on the profitable sale of a commercial property as long as the proceeds are “exchanged” into a new property of “like kind” that is held for investment purposes.

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Investors Market Value Investing Real Estate 36

Property Metrics

MAY 28, 2021

One of the unique challenges of commercial real estate investment is that markets, types of property , return expectations, and physical environments are in a constant state of change. The real estate term for this type of risk is “obsolescence” and there are three types that CRE investors should be aware of.

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Real Estate Tenants Modernization Renovations 50

AmeriMac

SEPTEMBER 17, 2024

Alternate valuation products are new tools for determining the market value of residential properties. Unlike regular appraisal methods, which mainly consider recent sales data and the property’s features, these products use more data points and different analytical techniques.

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Valuation Real Estate Technology Tools 36

Appraisal Today

APRIL 2, 2023

included are many practical marketing tips, how they differ from lender appraisals, what types are best for you and more. This can effect the marketability of a home. Pandemic boomtowns and pricey coastal markets, including Phoenix and Seattle, have seen the biggest increases in concessions. Burned Out on Working for AMCs?

Contracts 52

Contracts Appraisal HOA Architecture 52

Valuation Nation

AUGUST 2, 2021

As the author of these blogs is an appraiser, and this deals with the largest real property valuation organization in the country, I thought it may be apropos to style this blog after an appraisal review. Date of Review Report: 08/02/2021. There is a second tier to this assignment which includes the reviewer’s consultation.

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Appraisal Design Development Legal 40

Appraisal Today

SEPTEMBER 9, 2022

For most Americans, the idea of living in a mansion falls squarely in the realm of the daydream—one perhaps indulged while watching “The Real Housewives of Beverly Hills,” or for those old enough to still hear the unmistakable enunciation of Robin Leach ringing in their ears during an episode of “Lifestyles of the Rich and Famous.”.

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Reconsideration of Value Appraisal Clients Contracts 52

AmeriMac

JULY 15, 2024

This shift has improved accuracy and efficiency in determining a property’s market value. Using computer programs and data analytics, modern approaches may offer faster and more accurate real estate valuations. Old-school methods can be time-consuming and biased.

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Real Estate Appraisal Valuation Tools 36

Appraisal Today

NOVEMBER 29, 2024

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 Real Property, to the extent that either of these would include content that goes beyond what exists in statute already.

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Appraisal Business Contracts Real Estate 85