Appraisal Buzz

MAY 10, 2024

By “equity-rich” ATTOM means that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values. Still, the windfalls are starting to erode bit by bit amid mounting signs that the market is no longer so super-heated.” Home Equity & Underwater Report.

Market Value 195

Market Value Renovations Finance Development 195

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 381

Mortgage Design Architecture Market Value 381

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

Housing Wire

NOVEMBER 23, 2021

The Neighborhood Homes Investment Act (Neighborhood Homes) would begin addressing these challenges by developing or renovating 125,000 affordable homes in economically distressed communities. This cost gap all-too-often prevents the renovation of affordable houses that need a great deal of work.

Investing 474

Investing Renovations Construction Development 474

Cleveland Appraisal Blog

APRIL 21, 2022

Could being located next to a property that is an eye-sore cause a loss in market value to your home? Part of our work as appraisers is to consider whether situations like this are influencing the market value of the home we are appraising. Of course, that’s not the same as market value. Probably not.

Market Value 350

Market Value Appraisal Agents Real Estate Agent 350

Boston Appraisal

FEBRUARY 11, 2024

Targeting the Most Likely Buyer The niche market for historical properties typically comprises buyers who value historical preservation and authenticity. Understanding the unique appeal of these properties to such buyers is crucial in accurately determining their market value.

Appraisal 147

Appraisal Renovations Architecture Appraisal Process 147

Housing Wire

JANUARY 4, 2022

billion market value. Bair has maintained that Offerpad possesses the operational logistics to accurately value homes as well as provide renovation services that prompt a house to resell for a profit. The company plans to expand into additional markets in 2022.

Logistics 468

Logistics Renovations Real Estate Market Value 468

Housing Wire

JULY 21, 2022

This data shows early signs of a slowdown in the retail housing market in June that was anticipated by real estate investors buying properties at foreclosure auction in March. The as-is market value is typically based on a drive-by broker price opinion or external-only appraisal given the properties are usually still occupied.

Housing Market 434

Housing Market Buyers Marketing Retail 434

Cleveland Appraisal Blog

SEPTEMBER 3, 2021

We also use the MLS to analyze the market trends and to make market-based adjustments for things such as changes in sales prices, as well as features of a home that have a major impact on market value, like finished square footage, bedroom, and bathroom count, lot size and so on.

Agents 373

Agents Appraisal Renovations Development 373

Housing Wire

MAY 21, 2024

Meanwhile, the average winning bid relative to after-repair value has been rebounding nationwide after a short-lived dip at the end of 2023 — both for foreclosure auctions and for REO auctions. The after-repair value is the estimated market value of a property in fully repaired condition. in Q1 2023.

Marketing 475

Marketing Investors Real Estate Investing 475

Cleveland Appraisal Blog

NOVEMBER 11, 2021

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. This home has also been renovated in recent years. What is the Market Value in ‘Market Value’?

Valuation 364

Valuation Market Value Appraisal Real Estate 364

Boston Appraisal

OCTOBER 15, 2024

When looking to invest in a property, particularly one that is run down and in need of renovation, there is always a need to define current and potential values.

Property Appraisal 78

Property Appraisal Investing Appraisal Renovations 78

Boston Appraisal

OCTOBER 15, 2024

When looking to invest in a property, particularly one that is run down and in need of renovation, there is always a need to define current and potential values.

Property Appraisal 78

Property Appraisal Investing Appraisal Renovations 78

Housing Wire

NOVEMBER 10, 2020

The “yes” vote also means that inherited homes not used as principal residences may be reassessed at market value when transferred. The “yes” vote also helps Habitat for Humanity itself, allowing the company to save on operating costs while funneling money toward renovation projects, and adding to the local tax revenue.

Real Estate 475

Real Estate Property Taxes Development Renovations 475

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

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

Cleveland Appraisal Blog

MARCH 25, 2023

Having had our kitchen gutted and remodeled a couple of years ago, I can honestly say that I had not thought about this question before our renovation. Also, if you are planning on doing a complete gut renovation of your kitchen, it is best to go for a larger dumpster, as the amount of debris generated will be significant.

Supply Chain 280

Supply Chain Renovations Appraisal Market Value 280

Housing Wire

OCTOBER 10, 2023

A Comparative Market Analysis (CMA) is a detailed report that helps real estate agents evaluate and determine the market value of a property. Pro Tip: You don’t need to include all the property details in your Comparative Market Analysis. Select active listings comps Choose active listings near to the subject property.

Marketing 434

Marketing Real Estate Agent Clients Tools 434

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

Birmingham Appraisal

MAY 21, 2024

Condition and Age of the Property The age and condition of a home directly impact its market value. Renovations and updates can reduce these effects by increasing a home’s market appeal and extending its lifespan. It’s important to weigh the cost of these renovations against their potential return on investment.

Home Value 74

Home Value Architecture Renovations Real Estate 74

Housing Wire

SEPTEMBER 19, 2023

Inspecting the interior of the home is a priority in an accurate appraisal, as doing so verifies any renovations completed within the home. However, the appraiser can still get a good idea of a home’s value if they’re unable to get inside. At this point, an estimated market value is generated.

Real Estate 476

Real Estate Appraisal Agents Inspection 476

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.

Market Value 244

Market Value Appraisal Marketing Buyers 244

Housing Wire

MAY 18, 2022

Also, an independent appraisal during the loan process locks in the property’s market value at the time the reverse mortgage loan is funded. This means that the homeowner (or their heirs) won’t owe more than the home is worth when the loan is repaid.

Mortgage 418

Mortgage Clients Insurance Tools 418

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.

Appraisal 78

Appraisal Property Appraisal Market Value Real Estate 78

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

East Coast Appraisal

AUGUST 11, 2022

Home Appraisal Value Is the Same as Market Value. The appraised value of a property is different from the market value. The market value is what a buyer is willing to pay and what a seller is willing to accept for a property. Indeed, the appraised value can determine the market value.

Real Estate 52

Real Estate Appraisal Renovations Market Value 52

Hank Miller Team

JULY 6, 2023

Rookie investors make rookie mistakes; overpaying, underestimating repairs, poor project management, overestimating finished market value and a thousand other things. The residents of this town home ignored routine maintenance for years, it needed extensive renovation. Here's an example.

Decorating 52

Decorating Renovations Project Management Inspection 52

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.

Renovations 243

Renovations Appraisal Home Improvement Client Relationships 243

Housing Wire

AUGUST 15, 2022

HELOCs also are popular because the interest on the loans is tax deductible if the funds are used for approved home renovations. Equity rich, as defined by ATTOM, means that all debt balances secured by the property represent no more than 50% of the property’s estimated market value.

Lending 459

Lending Home Value Mortgage Renovations 459

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

Cleveland Appraisal Blog

JUNE 17, 2022

When developing an opinion of the market value of a property, what appraisers are really measuring is how much depreciation a property has suffered from, and more specifically how much depreciation the improvements on the land have depreciated. What’s the difference between a newly constructed home and a hundred-year-old home?

Appraisal 279

Appraisal Development Market Value Tenants 279

PennyMac

JANUARY 2, 2024

Do you know the return on investment (ROI) of your renovation project? Some renovations can make your home more valuable. If you’re investing in a home renovation in hopes of recouping that money when you sell, it’s important to research and plan ahead before you begin to ensure you’re spending your money wisely. It depends.

Home Improvement 36

Home Improvement Renovations Inspection Investing 36

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

Realvals

JUNE 18, 2023

An appraisal will provide you with the current market value of your real estate. In some cases, if you and your spouse cannot reach an agreement on the value of your shared property, a court may require a professional appraisal. You’ll learn the current market value, and even valuable income info if requested.

Appraisal 145

Appraisal Property Taxes Real Estate Market Value 145

Eppraisal

NOVEMBER 19, 2024

As sustainability becomes a focal point in home design and renovation, homeowners are increasingly investing in green upgrades. These enhancements not only benefit the environment but also offer financial savings and improve property value.

Investing 36

Investing Technology Renovations Modernization 36

Cleveland Appraisal Blog

DECEMBER 10, 2022

Therefore, when making any renovations to increase your home’s worth, always keep in mind that potential buyers may have very different tastes from you. Not only that this will help you boost the value of your home but it will also help you attract buyers and sell it quicker. 4 The address suffix.

Appraisal 297

Appraisal Buyers Renovations Investing 297