Residential & Commercial Real Estate Appraisal Blog
The “New Normal” in Real Estate Appraisals: What 2022 Will Look Like
2021 took us all on a wild ride in the real estate market, as home sales increased at a rate not seen in over a decade, and home values skyrocketing nearly 20% up from the previous year. The reason for these inflated values was most certainly due to the pandemic...
Where Home Appraisals Fit Into the Housing Market in 2022: 6 Things to Know
2021 saw unprecedented growth in the housing market as it skyrocketed alongside relentless buyer demand. This, however, led many to believe we were creating a housing bubble that would inevitably burst. Mortgage rates hit record lows—as did the inventory of homes for...
What is the Difference Between a BPO and a Home Appraisal?
When the alphabet soup of real estate valuation methods start heading your way, things might get a little confusing. AVM, CMA, BPO…oh my! While there are several processes to measure your home’s value, the two most common are a BPO (broker price opinion) and an...
Risky Business: 5 Risks Associated with Home Appraisals
Readers will recall that the so-called “great recession” of 2008 occurred when the United States housing bubble burst. Home prices imploded, homeowners began to abandon their mortgages, and the value of mortgage-backed securities held by investment banks plummeted....
Is an Appraisal Waiver a Good Idea: Know the Pros and Cons
Nobody likes red tape, so it is understandable that home buyers find an appraisal waiver enticing. After all, skipping the appraisal accelerates the buying process and allows you to start your new life in your new home sooner. Doing so does not come without risks,...
What Matters (and What Doesn’t) to a Home Appraiser
A home appraiser is a qualified professional who determines the value of your home based on criteria outlined in a “Uniform Residential Appraisal Report.” This guide helps them remain unbiased, and ensures all home appraisals are conducted according to the same...
Mortgage Appraisal Advice: 7 Tips from a Real Estate Appraiser
Homeowners know that a mortgage appraisal is an essential part of selling their home. What they may not know is just how much influence they have over the appraisal outcome. While no one will ever mistake a Fiat for a Ferrari, the following seven tips from a real...
Six Times You’ll Need a Home Appraisal (In Addition to When Purchasing a Home)
When most folks think of home appraisals they think of purchasing a home and while this is, indeed, the most common use of an appraisal, it is far from the only one. There are many other times in life when an appraisal may be required or may be a wise money-saving...
How Long Are Home Appraisals Good For…and How to Keep Your Closing on Schedule
Buying a home is one of life’s biggest accomplishments. The process is rife with excitement, expectation, and—due to its magnitude—a certain level of anxiety. Everyone simply wants their first (or second, or third…) home purchase to go right, and a part of ensuring...
What Happens if the Appraisal is Lower Than the Offer?
The housing market is showing signs of cooling as the pandemic-fueled demand slows, and yet prices still remain high. A report from the National Association of Realtors released in September showed the share of first-time homebuyers to be at a 2½-year low and houses...
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