As an appraiser I estimate value. My estimate is based on several different methods, however the approach that is usually given the most emphasis is the market approach. This approach, which is also known as the sales comparison approach, utilizes recent sales of similar homes within the subject property’s market area. In today’s economic climate [...]
Entries from March 25th, 2010
An Alternative to Selling in A Slow Market
March 25th, 2010 by Tom Horn · 4 Comments · Appraisal Tips, Market Trends
Tags:AHI Corporate Housing·Alabama·Birmingham·Declining Values·Foreclosures·Jefferson County Alabama·Lease·Rent·Shelby County Alabama·Thomas Horn·Tom Horn
Why So Many Vacant Houses?
March 20th, 2010 by Tom Horn · 5 Comments · Market Trends
I say this as if I don’t know the answer. I think I know part of the answer. In the day to day business of an appraiser we have to look at lots of houses in the MLS, both closed sales and active listings. I would say that at least half of the ones I [...]
Tags:Alabama·Birmingham·For Sale·Real Estate·Real Estate Appraisal·Vacant Homes
Foreclosures Have Big Impact on Birmingham Home Sales
March 14th, 2010 by Tom Horn · 5 Comments · Market Trends
The Birmingham Association of Realtors recently released sales data for the greater Birmingham market. Over the past 14 months the data indicates that foreclosure sales have held fairly stready with small variations, while traditional sales have varied quite a bit. The traditional sales were at a low in January then peaked around July and then [...]
Tags:Birmingham Alabama·Foreclosure Homes·Home Sales·Market Trends·Real Estate·Tom Horn
FHA Tip: Turn The Water On To Save Your Borrower Money
March 14th, 2010 by Tom Horn · 4 Comments · Appraisal Tips
I recently did an FHA appraisal on a property. The home was relativily new so there were not major issues with peeling paint, inadequate electrical service, or other typical concerns. The only issue was the fact that the water had not been turned on. The property was a foreclosure so this is not untypical, however [...]
Tags:Alabama·Alabama FHA appraisals·Alabama Mortgage Loans·Appraisal·Appraisal Inspection·FHA·FHA Loans·FHA Requirements·FHA Tips·HUD Minimum Property Requirements·MPR·Realtor Tips·Tips
Birmingham Alabama Appraiser : Helena Alabama-Old Cahaba Market Trends-2010 Update
March 7th, 2010 by Tom Horn · 2 Comments · Market Trends
The following data reflects market trends within the Old Cahaba subdivision, located in Helena, Alabama. This is a large development that is located on the Cahaba River. It offers a clubhouse and pool to residents. There are several styles of homes available, with some built on slab foundations and others having basements. Each type of [...]
Tags:Alabama·Birmingham Alabama·FHA Appraiser·helena·Helena Alabama·Market Trends·old cahaba·Thomas "Tom" Horn
The Pre-Listing Appraisal: A Smart Choice in Today’s Market
March 1st, 2010 by Tom Horn · No Comments · Appraisal
People may think that I believe this because I am an appraiser, but it truly makes sense. I have seen it happen numerous times. A house is selling and everything has been done: contract, title, home inspection, etc. and the last thing is the appraisal. Unfortunately sometimes the value just isn’t there, and the deal [...]
Tags:AL·Alabama·Alabama Appraiser·Appraisal·Birmingham Alabama Real Estate Appraiser·Collier Swecker·marketing·Mega Agent Real Estate Team·Pre-Listing Appraisals in Birmingham·REMAX·sell·selling·Tom Horn
