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
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
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 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
The What, How And Why Of A Bankruptcy Appraisal
If you are filing for bankruptcy, getting a bankruptcy appraisal may be one of the most important things you do. Filing for bankruptcy as a means to control of your finances is a difficult, yet sometimes necessary procedure. When you file, you must provide the court with transparent records of your income, debt and any other financial affiliations. While gathering current bills, collections statements and bank statements may not be so complicated, providing the value of your home is trickier. There are several types of bankruptcy filings. Briefly, a Chapter 13 bankruptcy stipulates that the debtor prepare a repayment plan with creditors, and a Chapter 7 states that
Should A Cash Buyer Get An Appraisal?
We received a call from a prospective client who asked about whether or not an appraisal was needed if she were a cash buyer. She went on to say that the price she was quoted by the homeowner seemed reasonable since her friend had purchased a house nearby for just about the same amount. However, she stated that she had not seen her friend's home yet and the square footage and number of rooms could not be determined. This means that her friend's home cannot be used as a valid comparable. Now, whether someone paying for their home with cash
Divorce Appraisal: The Basics
It's an unfortunate time when you are going through a divorce. Whether it is amicable or challenging, there are several things that need to be divided. A division of property (or properties) is often on top of the priority list for divorcing couples. But where do you even begin? You must begin with a professional divorce appraisal. This is mandatory because a judge cannot simply determine how much any home is worth on a whim or based on the testimony of either spouse. This is a legal procedure and must be done correctly. Either your attorney knows a local appraisal
Is A DIY Appraisal A Good Idea?
There are a great many online sites that allow you to check out how much homes in your area are worth. This makes it easy for the average person to feel like they can appraise their own home. While a DIY appraisal may seem like a cost efficient way to do things, there are a great many mistakes that can be made, and this can endanger a home sale. What are some reasons for researching comp sales on your own? You want to investigate what the current market is like You're buying a home and want to feel confident that
How To Appraise Wayne Manor
We're going to have a little fun with this post. There have been many homes of fictional characters that seem to price at immeasurable sums. Take Iron Man's laboratory or Lex Luthor's commercial properties-- it's interesting to think about how much their real estate actually costs. What about someone like C. Montgomery Burns from the Simpsons? How much is his home worth? Perhaps the property with the home that may have the most surprising value is Wayne Manor, home of Bruce Wayne, otherwise known as the Batman. A recent article ran about the appraisal cost of Wayne Manor and we
Low Appraisal? Here Is What To Do
Several real estate appraisers have mentioned that foreclosures and short sales have created a new price structure that includes average home sales prices and distress sales. This means that homes may have been appraised at a lower value because the "comps" in the area are low as well. So what should a homeowner do if the valuation is too low? Appraise First, Set the Sales Price Second Get an appraisal before you list the home for sale, this way you can take steps to raise the value if the price falls short of your expectations. Get a Copy of the Appraisal
