Comments for Birmingham Appraisal Blog http://birminghamappraisalblog.com "appraisal bloggin for your noggin" Sat, 04 Feb 2012 22:10:21 +0000 hourly 1 http://wordpress.org/?v=3.3.1 Comment on Birmingham, Alabama Cash Buyers: Don’t Make This Mistake by Tom Horn http://birminghamappraisalblog.com/appraisal/birmingham-alabama-cash-buyers-dont-make-this-mistake/comment-page-1/#comment-946 Tom Horn Sat, 04 Feb 2012 22:10:21 +0000 http://birminghamappraisalblog.com/?p=3138#comment-946 The cash purchase phenomenon is surprising but it makes sense. I know most people might not think of getting an appraisal if they are paying cash but it is a smart move. Like any other investment you make, you want to make sure it's worth what you are paying for it. Thanks for your comments, and the referrals you send, you're awesome! The cash purchase phenomenon is surprising but it makes sense. I know most people might not think of getting an appraisal if they are paying cash but it is a smart move. Like any other investment you make, you want to make sure it’s worth what you are paying for it. Thanks for your comments, and the referrals you send, you’re awesome!

]]> Comment on Birmingham, Alabama Cash Buyers: Don’t Make This Mistake by Genny Williams http://birminghamappraisalblog.com/appraisal/birmingham-alabama-cash-buyers-dont-make-this-mistake/comment-page-1/#comment-945 Genny Williams Sat, 04 Feb 2012 19:09:47 +0000 http://birminghamappraisalblog.com/?p=3138#comment-945 Tom, you're so right. And, as you saw in the article, we are seeing more purchasers using cash than any other means. You saved one of our cash buyers that Gwen McKenzie was helping. Her house appraised for $20,000 less than contract price. Thankfully, she hired you to assess the situation; even though she was paying cash. Thanks, Tom! Tom, you’re so right. And, as you saw in the article, we are seeing more purchasers using cash than any other means. You saved one of our cash buyers that Gwen McKenzie was helping. Her house appraised for $20,000 less than contract price. Thankfully, she hired you to assess the situation; even though she was paying cash. Thanks, Tom!

]]> Comment on Can I use the tax assessment on my house to set a list price? by Tom Horn http://birminghamappraisalblog.com/appraisal/can-i-use-the-tax-assessment-on-my-house-to-set-a-list-price/comment-page-1/#comment-944 Tom Horn Sat, 04 Feb 2012 16:50:49 +0000 http://birminghamappraisalblog.com/?p=3325#comment-944 Our property taxes are calculated by multiplying the current millage rate by the assessed value (which is 10% of the fair market value). If someone buys a property and it is not a foreclosure then that purchased is considered in the assessment. The state does not use forclosure sales when assessing property values, however I think that is wrong because in some areas the foreclosures are the market. I am sure this is done because they do not want tax revenue to go down. Our property taxes are calculated by multiplying the current millage rate by the assessed value (which is 10% of the fair market value). If someone buys a property and it is not a foreclosure then that purchased is considered in the assessment. The state does not use forclosure sales when assessing property values, however I think that is wrong because in some areas the foreclosures are the market. I am sure this is done because they do not want tax revenue to go down.

]]> Comment on Can I use the tax assessment on my house to set a list price? by Ryan Lundquist http://birminghamappraisalblog.com/appraisal/can-i-use-the-tax-assessment-on-my-house-to-set-a-list-price/comment-page-1/#comment-943 Ryan Lundquist Fri, 03 Feb 2012 22:59:07 +0000 http://birminghamappraisalblog.com/?p=3325#comment-943 Well said, Tom. I would definitely say the same thing to a California home owner. Proposition 13 in California locks in a property's "base year" value, meaning an owner will pay taxes based upon the original year they made the purchase. Of course Prop 8 makes up for a decline in value to owners by offering a temporary decline in property taxes if the market goes down. But all things considered, property taxes here should reflect the worth of the house when it was purchased (plus 2% each year in many cases). In effect, the tax roll does not show current values, but a value in the past. Do you guys have a similar "base year" propsition in AL? I'm curious. Well said, Tom. I would definitely say the same thing to a California home owner. Proposition 13 in California locks in a property’s “base year” value, meaning an owner will pay taxes based upon the original year they made the purchase. Of course Prop 8 makes up for a decline in value to owners by offering a temporary decline in property taxes if the market goes down. But all things considered, property taxes here should reflect the worth of the house when it was purchased (plus 2% each year in many cases). In effect, the tax roll does not show current values, but a value in the past. Do you guys have a similar “base year” propsition in AL? I’m curious.

]]> Comment on Appraising In The Aftermath Of A Tornado-Birmingham, Alabama by Tom Horn http://birminghamappraisalblog.com/appraisal/appraising-in-the-aftermath-of-a-tornado-birmingham-alabama/comment-page-1/#comment-941 Tom Horn Wed, 01 Feb 2012 23:17:58 +0000 http://birminghamappraisalblog.com/?p=3291#comment-941 That is a very good point. It is a good idea to make an inventory list with pictures, serial numbers, and anything else to identify the property. An old appraisal can be used in the same way if something happens to your home. I have used old appraisals to get information on homes that experienced damage such as the tornados I wrote about in this post as well as homes that experienced a fire. That is a very good point. It is a good idea to make an inventory list with pictures, serial numbers, and anything else to identify the property. An old appraisal can be used in the same way if something happens to your home. I have used old appraisals to get information on homes that experienced damage such as the tornados I wrote about in this post as well as homes that experienced a fire.

]]> Comment on Appraising In The Aftermath Of A Tornado-Birmingham, Alabama by Neevan http://birminghamappraisalblog.com/appraisal/appraising-in-the-aftermath-of-a-tornado-birmingham-alabama/comment-page-1/#comment-940 Neevan Wed, 01 Feb 2012 22:53:56 +0000 http://birminghamappraisalblog.com/?p=3291#comment-940 Its a good idea to take pictures of everything for which one has bought insurance, load the information on one or more high quality reliable USB flash drive and stow it away in a bank locker or if you are like me and don't like banks, any other safe place. Its a good idea to take pictures of everything for which one has bought insurance, load the information on one or more high quality reliable USB flash drive and stow it away in a bank locker or if you are like me and don’t like banks, any other safe place.

]]> Comment on Appraising In The Aftermath Of A Tornado-Birmingham, Alabama by Tom Horn http://birminghamappraisalblog.com/appraisal/appraising-in-the-aftermath-of-a-tornado-birmingham-alabama/comment-page-1/#comment-938 Tom Horn Tue, 31 Jan 2012 23:42:35 +0000 http://birminghamappraisalblog.com/?p=3291#comment-938 Exactly Ryan, we have had our fair share. Exactly Ryan, we have had our fair share.

]]> Comment on Appraising In The Aftermath Of A Tornado-Birmingham, Alabama by Ryan Lundquist http://birminghamappraisalblog.com/appraisal/appraising-in-the-aftermath-of-a-tornado-birmingham-alabama/comment-page-1/#comment-937 Ryan Lundquist Tue, 31 Jan 2012 22:29:49 +0000 http://birminghamappraisalblog.com/?p=3291#comment-937 Let's hope for no more tornados this year. I'm glad you're able to provide a necessary service though. Let’s hope for no more tornados this year. I’m glad you’re able to provide a necessary service though.

]]> Comment on A Look At The Market For Lake Front Homes In Shelby County, Alabama in 2011 by Tom Horn http://birminghamappraisalblog.com/market-trends/a-look-at-the-market-for-lake-front-homes-in-shelby-county-alabama-in-2011/comment-page-1/#comment-935 Tom Horn Mon, 30 Jan 2012 04:17:39 +0000 http://birminghamappraisalblog.com/?p=3008#comment-935 That would be very difficult to determine without doing an appraisal because the market has changed so much. Give me a call if you would like me to look at it more closely. That would be very difficult to determine without doing an appraisal because the market has changed so much. Give me a call if you would like me to look at it more closely.

]]> Comment on A Look At The Market For Lake Front Homes In Shelby County, Alabama in 2011 by John David Hutto http://birminghamappraisalblog.com/market-trends/a-look-at-the-market-for-lake-front-homes-in-shelby-county-alabama-in-2011/comment-page-1/#comment-934 John David Hutto Sat, 28 Jan 2012 21:00:53 +0000 http://birminghamappraisalblog.com/?p=3008#comment-934 Thanks Tom: One more question: Specific to Heather Point, would you venture an opinion as to what a lakefront house appraised for $680,000 in January, 2008 should appraise for today? The ad valorem taxes have decreased very little in that time frame? Thanks again. David Hutto Thanks Tom:

One more question: Specific to Heather Point, would you venture an opinion as to what a lakefront house appraised for $680,000 in January, 2008 should appraise for today? The ad valorem taxes have decreased very little in that time frame?

Thanks again.
David Hutto

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