Residential & Commercial Real Estate Appraisal Blog
The Important Detail That Makes a Refinance Appraisal Different from a Purchase Appraisal
You already know that a purchase appraisal differs from a refinance appraisal in that the former is needed when you are buying a house and the latter when you want to refinance a house you already own. Given that in either case, it is the bank or financial institution...
The Appraisal Gap on the Black Community: The Current Effects and How It Can Be Changed.
Research has shown that for decades, houses in predominantly Black neighborhoods have generally been appraised less than houses in majority-white neighborhoods. It is hard to pinpoint one single explanation for this disparity, but it is clear that the appraisal gap...
How Lenders and Appraisers Can Work Together Seamlessly
The purchase of a new home is an exciting milestone in a person’s life, but it can also be a stressful and emotional experience. The process can seem very intimidating, especially when a roadblock or two appears along the mortgage journey. While timely and compliant...
Why Sales Comps are Vital to Commercial Real Estate Appraisals
Sales comparables (or “comps”) are vital for any given real estate transaction. Whether you are buying or selling a property, knowing the sales comps will help you get an idea of whether or not the property is a good investment. Due diligence and research are required...
How a Newly Licensed Appraiser Can Ensure Quality Work
Avoiding mistakes that are easy to correct can protect your reputation as a licensed appraiser, and ultimately contribute to your success.
Residential Real Estate Appraisal: 5 Common Mistakes that Homeowners Make
The real estate market has taken a bit of a hit over the past few years, and—as a result—some real estate appraisals may come in lower than expected. Of course, mistakes happen—especially if an appraiser lacks local knowledge and experience—so it’s always smart to...
Real Estate Appraisal Turn Times: 3 Ways to a Faster Appraisal
When it comes to real estate appraisals, most lenders look for three qualities in an appraisal company: accuracy, communication, and turn times. Accuracy and communication are largely the responsibilities of the appraiser—other than hiring an appraisal company with a...
Home Appraisers & the Importance of Local Knowledge
Being a good appraiser requires having local knowledge about neighborhoods and their surrounding areas. A real estate appraiser who knows this information will perform more accurate appraisals consistently. Everyone wants to be good at their craft, so it is important...
What To Do Before the Home Appraiser Comes
If you’re considering refinancing, selling, or removing PMI, you’ll need to set up a home appraisal. If you’re selling your home, this will be set up through the buyer and agent through your realtor, but if not, your mortgage company will contact the home appraiser....
How a Commercial Real Estate Appraisal Differs From a Home Appraisal
No two purchases or sales are identical in real estate, and this especially rings true when thinking about the types of appraisal processes that a property may be subject to. While there are certainly similarities between commercial appraisals and home appraisals,...
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