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
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
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
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
Determining Real Estate Value During Divorce
As far as divorce proceedings go, for most couples, the home is a major shared asset. The first step in dealing with the splitting of assets is to determine the real estate value during divorce. Use An Appraiser An appraiser is the best way to help determine the value of your assets. They are better trained in this situation than a Realtor. Further, a tax assessment value is not actually an accurate method of determining value. Understanding The Difference Between Marital And Non-Marital Equity There are classifications of assets. Some get divided during a divorce and others don't. This is determined mainly
The Latest In Celebrity Real Estate
Like celebrity marriages, celebrity real estate changes hands so frequently that it is often impossible to keep up. Lucky for you, we have rounded up this month's biggest sales and real estate news in Tinseltown-- which now stretches all throughout the world! Michael Jackson's Final Home Sold for $18.1M Michael Jackson's death shocked the world. Now, the home in which he lived his last days (and died in) has just been bought for a $18.1 million. Yet, the most shocking detail of this sale is that the original asking price was $38.5 million. The 17,000-square-foot home boasts seven bedrooms and thirteen bathrooms. It's
Crazy Appraisal Stories From The Front Lines!
The home appraisal profession is not often considered a dangerous job. Most appraisers can be in and out of a client's home within just a few hours. Other than a messy house, the work usually goes off without a hitch. Well, if that's been your experience, consider yourself lucky because we've decided to gather some of the most hilarious and totally off-the-wall stories we've ever heard in the business. If you've got stories to share, go ahead and email us and we'll compile another post dedicated to crazy appraisal stories. Home Appraisal In Anchorage, Alaska Goes Wild Many years ago,
