Residential & Commercial Real Estate Appraisal Blog
Determining a Home’s Estimated Value: Home Appraisal Considerations
The purpose of an appraisal is to determine the estimated value of a home.. It is one of the last steps in the home buying process that occurs after a seller has accepted an offer and work has begun with a lender. A home appraisal is also an important part of the...
A Normal Housing Market? Not By Any Stretch of the Imagination…
The price of homes has been surging over the past year, which is an anomaly when it comes to the housing market. The pent-up demand during the shutdowns, lifestyle changes people made during the pandemic, and low-interest rates were the driving force behind the...
Navigating an Appraisal Gap: When to Buy & When to Walk
Today’s housing market is short on supply and high on demand, forcing buyers to go all out with their bids often resulting in paying well above the home’s appraised value. When this occurs it is referred to as an appraisal gap and may seem like a risky move as the...
Avoid Low Home Appraisals with These 5 Tips
Home appraisals are a necessary part of the home buying, selling, or refinancing process. In a purchase and sale transaction, an appraisal is used to determine whether the home’s contract price is appropriate. This protects the buyer from overpaying for a property and...
Qualities to Look for in a Real Estate Appraiser
When it comes to the sale or purchase of a home, selecting the best real estate appraiser is important. While there are many appraisers out there, a good appraiser gives buyers and lenders surety they are making a good investment. A high quality real estate appraiser...
6 Important Facts About Commercial Real Estate Appraisals
Business owners often find that they are in need of a commercial real estate appraisal for a variety of reasons: to establish the valuation for mortgages or other loans, determine an appropriate sale price, or for property insurance. Many also find that the appraisal...
Real Estate Appraisals vs. Assessment: An Important Distinction
Being knowledgeable about real estate terminology is vital in understanding the buying and selling process. These terms and phrases can sound similar, yet mean very different things. A prime example of this are assessed and appraised values. Although the terms...
Racial Discrimination in Home Appraisals: How We Can Do Better
Black homeowners have long known that the home appraisal industry has a deep history of racial discrimination. A prominent example of this arrives via a widely-circulated Facebook post published by Abena Horton on July 2, 2020. There, Ms. Horton, who sought to take...
It’s Not Easy Being Green: Getting an Accurate “Green” House Appraisal
What Does “Green” Mean, Anyway? When upgrading their homes, many people choose to go green. But, what does “going green” really mean, and what does a home appraiser need to understand about appraising a green house? First, an appraiser should understand the five...
So Many Real Estate Appraisals, So Few Property Appraisers
The real estate appraiser industry has seen a steady decline in the number of property appraisers available in the workforce, and this number continues to go down. Much of this shortage is due to the aging population of appraisers facing retirement, the challenge of...
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