The primary indicator of value for residential real estate is comparable sales. The appraiser researches the market to gather information pertaining to sales, listings, pending sales that are similar to the subject property, and verfies this information is correct. The appraiser actually already has a good idea of the property’s value by the time they have scheduled an appointment to stop by the property. [...]
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You finally reach a deal with a buyer to sell your house, or strike a deal with the seller of your dream home, only to see the deal fall apart later when the house doesn’t appraise for the price that has been agreed upon…what are you to do? This is a plight that has become [...] It seems we always need to find someone to blame for our problems… When it comes to the meltdown in the housing market that has taken place over the past three years there has been no lack of finger pointing by many inside and outside the industry as to factors that either caused or contributed [...] Editor’s note – Last month we published an article about HVCC which drew quite a few comments and responses….one such response was from veteran appraiser Paul Collins in which he shares his frustration with the state of the industry and the impact of lenders and legislation on his industry. Our thanks to Paul for allowing [...] Dennis Norman By: Dennis Norman May1st the new Home Valuation Code of Conduct (HVCC) went into effect with regard to appraisals and the controversy over it began. It seems no one likes it; not appraisers, real estate agents nor lenders. Many complain it is slowing down the home sale process and increasing the cost of [...] |
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