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
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.
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
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
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
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
Why Appraisal Reports Have Flood Maps
The devastation brought on by Hurricane Sandy is going to cost the government billions. From restoring power to rescheduling most major flights, not to mention the personal loss of people's homes and belongings -- all this is a big undertaking. Many residents of homes in flood prone zones don’t always take the necessary precautions when it comes to living in a high-risk home. Of course, no one wants to consider the worst, but as we have all seen, floods are a real threat. So going forward, especially for home owners in coastal regions, what can home buyers and sellers do
The Secret Of A 48-Hour Home Appraisal Makeover
We love success stories for home buyers and sellers. When someone gets a low figure for their home and finds ways to fix up some of the issues and sell for a better rate, we are overjoyed. The housing market is confusing enough as it is, so when we hear good news we share it. A recent ABC News report stated that the housing market median home prices have risen since last July. This is great news for the millions of U.S. citizens with their homes on the market. The better news is that the program also offered a 48-hour
The Types Of Values Sought With An Appraisal
A real estate appraisal develops an opinion on the value of a property. Most often, the use is to determine the market value of a home for a buyer and seller. However, because no two properties are alike and they may serve different needs such as a commercial space versus a home, there are different types of values sought with an appraisal. In order to determine what type of value you seek with your appraisal, take a look at some of the varying types. Some of the most common include: Market Value – This is the estimated value for which a property could exchange between a buyer
