Are Free Home Appraisals A Good Way To Determine A Home’s Value?
There are tons of websites that provide free home appraisals. It sounds like a great idea, right? A free house appraisal? Stop right there. Sometimes, you really get what you pay for, and with a free home appraisal, you get nothing. Here's why: Home appraisal and valuation sites that offer "free" or "instant" services are a dime a dozen on the internet. This seems like a good value -- after all, it's free and it's instant. Getting the true market value estimate of your home never works that way. What these websites offer is actually an inaccurate value for the
What Happens At The Bank When An Appraisal Request Is Made For A Loan?
You have found the home of your dreams, congratulations! The paper work has been obtained and you're hoping for a closing date soon. Your next step should be to get an appraisal in order to understand the true value of your new home, and to get a loan from the bank. So what happens when a bank requests an appraisal for a loan? The majority of real estate appraisals are requested by mortgage companies to determine the property's purchase price for a loan. The appraiser is your safety net against spending more on your home than it’s really worth. It’s also a safety
After Twenty Years, Real Estate Ads Come Back To The Super Bowl
If I told you that it has been 20 years since a real estate ad has aired during a coveted (and expensive) Super Bowl commercial slot, would you believe me? It sounds improbable that real estate giants would forgo the biggest advertising experience of the year for that long, and yet its true. Thankfully, the real estate silence has been broken Century 21 Real Estate, and once again real estate has come back into the spotlight. Century 21 Real Estate's 30-second ad ran during the third quarter of this Sunday’s Super Bowl. The commercial showcased Donald Trump, Apolo Ohno, Olympic speed
Valuing Green: Will A Green Home Mean A Better Appraisal?
The true financial value of a green home has been a debate within the appraisal community for quite some time. Why would a seemingly positive home enhancement become a topic with such opposing view points? The answer is simple, while green home improvements may mean that the home owner is content, they don't always translate to a higher value in the appraisal process. There are, however, people working tirelessly to change that. We've covered this topic before when a client came to us asking about property enchantments with a green twist. Now, a study has found that homes with green labels
New Reality Show Alert: Scoring the Deal
Sometimes reality television shows are like nails on a chalkboard: Horribly annoying! Other times, reality TV ideas intrigue us. In the case of a new HGTV reality series called "Scoring the Deal," real estate agents attempt to sell homes to celebrity athletes. The question is, this show going to be a hit? Successful athletes are an interesting case study in home ownership. They are more than likely to make impetuous decisions. Why? Because if they are traded or sign a contract, they have to move quickly. Also, because their fortunes come quickly and can go at the same speed. Host Jason Abrams, who is a broker
Learn To Earn: The Best Appraisal Books Out There
The real estate appraisal profession is one that requires a good base of knowledge regarding home sales, real estate procedures and other useful bits of information. So, whether you are an agent, a real estate appraisal apprentice or a homeowner or seller who wants to learn about the field in an in depth manner, consider one our book selections for the best appraisal books out there to learn about the ins-and-outs of the business. Here they are, in no particular order: 1. Fundamentals of Real Estate Appraisal by William L. Ventolo, Martha R. Williams. Here's an Amazon review of the book by a reader: I
The 2013 Real Estate Market
It seems like 2012 came and went so quickly. Was this a good year or a challenging year for you? Let's take a look at the 2012 real estate market and the 2013 real estate market and make some predictions for the year to come! The National Association of Realtors reported that home sales were up 5.9 percent for the month of November and that sales are on track for a five year high. This is great news because it means that sales are up from last year. However, most appraisers and agents say that the market has some ways to go. Buyers
How Much Does A Doomsday Preppers Bunker Cost?
I never thought I would write a blog post like this, however, the recent chatter all over the media and internet really piqued my curiosity. What am I talking about? The Mayan apocalypse, of course! No, I certainly never believed the rumors of an impending doomsday, but what I am curious about are "doomsday preppers" or people who prepare for catastrophic events by buying equipment, food and bunkers. I want to know all about the real estate aspects of living in a bunker, like the costs and square footage. The market is still small but growing according to manufacturers. The
Top Celebrity Real Estate Deals of 2012
Celebrity homes come and go on the real estate market. One day, a big name comedian owns a mansion and the next day, a rising starlet is the new proud owner. This isn't news in Hollywood, but as New Years Eve of 2013 approaches take a look at some of the biggest celebrity real estate deals of 2012. 1. Joan Rivers' NYC penthouse apartment is going $29.5 million. The 5,190-square-foot apartment is located on the Upper East Side. It's got four bedrooms and five baths. It also features a private elevator entry hall, two wood-burning fireplaces, 23-foot ceilings, a large corner library and a formal
Iconic Neighborhoods And Neighborhood Value
When it comes to location, it always matters. The location of your home makes a difference in the resale value. Of course, you can't always control how demographics will shift, however, you can look at certain trends to determine whether or not the neighborhood you're buying in will help with the price appraisal of your home. For example, being named the top five places for Christmas Lights in the country is a good thing when it comes to selling. Besides being festive, it means that locals will want to keep their title and they will keep their neighborhood in good standing. The
