What is gross living area in an appraisal?

What’s the big deal with gross living area? There is a direct correlation between the amount of gross living area in your home and its market value. If everything else is the same, a home with greater square footage (gross living area) will typically be worth more. During an appraisal, the appraiser will take measurements […]

What makes a good sales comparable?

A guide to choosing a good sales comparable As an appraiser, I speak a lot at real estate agent’s offices. One of the most popular questions I get is how to choose a good sales comparable. This may seem like a very basic question to an appraiser but it can be confusing to an agent. […]

5 Real estate stats homeowners should know and a Shelby County market update

Understanding your local market As homeowners, it’s good to know a little bit about the market our home is located in. There’s no need to be a professional statistician but it’s really not necessary. There are a couple of real estate stats that are good to know as they can give us a feel for […]

How do you appraise an in-law suite?

A reader’s question about appraising homes with an in-law suite I was recently asked a question by real estate agent Tammy Anderson about how appraisers might appraise an in-law suite. She was specifically curious about whether a second kitchen and entrance might cause trouble in the valuation. If you have any further questions about an in-law […]

Is it the appraiser’s job to support value?

Is it the appraiser’s job to support value or report value? In Jonathan Miller’s Housing Notes blog post this past week he mentioned an article from the online version of the Denver post that is disheartening to appraisers. In the article, Denver real estate agent Steve Danyliw was quoted saying the following: “Agents are experiencing […]

 

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