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Zillow Zinged

Cleveland Appraisal Blog

One big one is their Zestimate’s inaccuracy at predicting market value, and more specifically, they were relying on their own Zestimates to make important decisions like buying & selling homes. Just think how much more difficult it would have been to flip in a declining market.” My opinion of value – $345,000.

Valuation 369
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Understanding Zillow’s Square Footage is Important!

Cleveland Appraisal Blog

FINISHED SQUARE FOOTAGE On more than one occasion some who have read my appraisal reports felt that my opinion of value was too high. They felt that way because of sales they saw on Zillow that appeared to be comparable and sold for less than my opinion of the market value of the property I appraised.

Appraisal 409
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Surprising Things That Can Decrease Property Value

Cleveland Appraisal Blog

The value of your home will drop if you use the garage for anything other than parking automobiles. That’s because most buyers need somewhere to store their vehicles and gardening tools. You wouldn’t think it, but there’s a certain level of clutter that might lower the value of your home. 8 Too much clutter.

Appraisal 302
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How should appraisers approach short-term rentals?

DataMaster

The purchase of real property for the purpose of investment is not new. Or, a home may be purchased for its income potential, with the purpose of renting the property to a tenant. Proof of income, not the market rent. The best tool to determine an estimate for an STR is AirDNA. If only it was that simple.

Appraisal 148
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What’s in a Sales Contract? Insights from a Seasoned Appraiser

McKissock

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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How should appraisers approach short-term rentals?

DataMaster

The purchase of real property for the purpose of investment is not new. Or, a home may be purchased for its income potential, with the purpose of renting the property to a tenant. Proof of income, not the market rent. The best tool to determine an estimate for an STR is AirDNA. If only it was that simple.

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Creativity, AI Help Boost Fraud Risk in Real Estate

Will Springer Realtor

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. Deepfake technology can even impersonate real estate agents, landlords, lenders or consumers.