Over the past few years, there has been continued questions and at times misinformation as far as what is appropriate communication between real estate agents and appraisers. The industry tends to shift in extremes and went to the far extreme in the post 2008 real...
In my market area, a substantial percentage of my appraisal assignments are country, acreage properties. These assignments rarely involve homes that are apples to apples comparables. I typically have to look at a variety of sales and find aspects of a property that are similar...
In the appraisal industry, there have been more tools and software developed over the past few years advancing data support. While there are various products to support our appraisal work files, I think it's important to not overlook the art of appraising. Brief history: Years ago,...
As an appraiser, I often get asked various questions about what contributes to value. One common question that seemingly comes up is the issue of landscape and how much value it adds. The honestly truth is there is not an easy answer. Every market, neighborhood...
In my market area, there are various areas with SFRs located next to or close to railroad tracks. As with most appraisal assignments, the market reaction can vary and one can't assume the same negative market reaction applies to all. I recently completed an appraisal...
Following up recent blog post about lack of recent comparables, an agent reached out to me recently with a scenario that most of us real estate professionals can relate to. The subject property is recently updated/remodeled but the last few sales are not ideal comparables....
Occasionally, when I get to the research comparable sales step in the appraisal process, I'll come across a situation where there has been no recent sales. In today's active market, this rarely occurs, but this does happen from time to time. Recently I came across...
While losing a loved one can be a very emotional and difficult time for everyone, it is prudent to determine value of property at the date of death for estate tax purposes between heirs and beneficiaries. The appraisal can be retrospective meaning an appraisal can...
So what is in store for real estate in 2016? The surrounding markets were active in 2015 with prices at the very least stable if not trending upward at some point during year. Of course every local neighborhood varied in price appreciation. So, will prices...
As some may have heard and experienced recently, FHA guidelines have changed this past September. These changes will impact real estate appraisers, agents and homeowners. From an appraisal standpoint, they have modified the word "inspection" to "observation" but after reviewing the new guidelines, it looks...