Appraisal Technology: How It Benefits You!
The tools of the appraisal trade have drastically changed. One of the biggest changes new technology has brought on is how everyone, including lenders and homeowners, now have quick access to appraisal information. Here's how appraisers are using new technology and how that benefits you.
Low Real Estate Appraisal? Here’s What To Do
As the real estate market continues to grow, more home buyers and sellers are coming across a common issue: An appraisal that is too low! After all, valuations must be based on recent comparable sales, or "comps," and in some cases the rising rate of home sales does not match the rates of homes sold previously. In this article, I'll cover what to do if you get a low appraisal. But first, you need to ask why? Why is the appraisal lower than your expectations? This may have occured because as home rates continue to recover from the housing crisis of
The Massachusetts Real Estate Market
Appraisers often swap stories. One thing that caught my ear recently was a conversation a member of our Boston, Massachusetts appraisal team was having with another appraiser. He was giving the other appraiser a take on the latest with the Massachusetts real estate market. I thought they were having a great dialogue. After all, why should appraisers keep the scoop to themselves? Maybe it's time to update the readers out there about what's new in the home of the Red Sox, the best New England clam chowder, baked beans, Cheers and of course, some of the best colleges our country has
How Accurate Are The Appraised Values Of Zillow And Trulia?
A question I often get is, "How accurate is Zillow and Trulia?" This is a great question because it allows me to explore and show you whether or not online appraisal websites are on the money. I randomly selected five appraisals, located in different parts of the country, done by our team of certified appraisers. I then compared their values which were certified by our appraisers with the amounts shown by Trulia.com and Zillow.com. By the way, if you want to see the estimated value of a home, go to Google and type in the address and the listing should
Big Homes Are Back, But With A Twist!
Downsize, downsize and downsize. If you've been looking at home sales in the last few years, you would think the word "downsize" became a permanent part of the real estate lingo! Thankfully, that's not entirely true. Big homes are back! While many people were thinking about smaller homes, a whole other generation of home buyers were thinking that bigger is better. The big homes that are making a comeback come with a twist! Can you guess what it is? Before we reveal what the new trends in big home sales are, here are some interesting tidbits about home sizes across the states:
Washington D.C. Real Estate: Supply And Demand
Washington D.C. is a cultural and historical mecca. Having dozens of great neighborhoods a Metro ride away and a bustling political and business climate keeps the D.C. real estate market competitive. It's no wonder people flock there to live and work. As appraisers, our team is constantly in and out of so many Washington D.C. neighborhoods and homes; this familiarity that has led to a great understanding of the trends and home sales averages of the Washington D.C. real estate market. When a client wanted our take on Washington's priciest neighborhoods to buy a home, we used this list to answer some questions.
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
Can You Negotiate The Appraised Value?
The thrill of negotiating or bargaining a sales price appeals to many of us. Once, on a vacation with my family in Barbados, we spent time bargaining with local salesmen on antiques. This was, of course, a big part of the fun. When it comes to appraisals, I've heard people ask if there is any room for negotiating, as in when a home sells and the seller and buyer negotiate certain terms. The short answer is not really, but here are some options for the longer answer: If the home buyer and seller agree on a price, can the appraiser appraise it lower or higher
Real Estate Appraisal Schools
At Thanksgiving dinner, my nephew said he wants to go into the family business. He asked me to recommend some schools for him. I figured it might also be helpful for anyone else out there curious about becoming a real estate appraisal professional. So, here are some resources for you if you want to know more about the real estate appraisal business: Department of State, Division of Licenses has a great page that talks about licensing state to state and where some appropriate courses are offered. Click here to see more. Here are some schools that offer appraisal accreditation: Appraisal
