Happy New Year! I hope everybody is refreshed as the new year starts rolling. I am hearing nationally and locally more and more news that the market is slowing. While that is stating the obvious, I think its imperative to embrace the market changing and look...
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...
As appraisers, we are constantly analyzing data trends. For the last few years, the headline has generally been "It's a Seller's Market." Simply put, the definition of seller's market is when there are more buyers than sellers and sellers have the upper hand. A seller...
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...
It seems once or twice a year, I'll receive an appraisal assignment that appears to be a typical acreage property assignment. I'll go through the normal pre inspection research, pull possible comparables, etc. then come to find out when arriving at the property that the...
More recently, real estate agents and homeowners have hired a real estate appraiser as a 3rd party to gain a neutral opinion of the property in question. Here are some pre-listing and post-listing appraisal benefits. Advantages of a Pre-Listing Appraisal- 1) The real estate agent and...