I have noticed an interesting trend in the Birmingham, Alabama real estate market. The trend involves the segmentation of the market in various areas, but mainly where foreclosure activity is prevalent. I noticed it most recently in the Centerpoint area of Birmingham. The segments include the following: foreclosures “normal sales” and flip properties The “normal” [...]
Entries Tagged as 'Appraisal'
An interesting trend in the Birmingham, Alabama real estate market
February 13th, 2012 by Tom Horn · No Comments · Appraisal, Market Trends
Tags:Alabama·Appraisal·Appraiser·Centerpoint·flip·flipper·Foreclosure·investment·property trends·property value·renovate·REO·Short Sale·Thomas Horn·Tom Horn
10 reasons NOT to get a pre-listing appraisal
February 8th, 2012 by Tom Horn · 10 Comments · Appraisal, Appraisal Tips, FSBO Tips, Realtor Tips
1. It costs too much money- Really? If you think about the fact that by pricing the home correctly you could cut the marketing time down and reduce marketing costs, this becomes a no brainer. In addition, the modest cost would probably not exceed future price reductions that you may need because it was priced [...]
Tags:Appraisal·Appraiser·CMA·fsbo·home value·house value·market analysis·marketing appraisals·pre-listing appraisal·Pre-Listing Appraisals in Birmingham·property value·Thomas Horn·Tom Horn·value estimate
Why You Need A Local Appraiser In Today’s Real Estate Market
November 21st, 2011 by Tom Horn · 5 Comments · Appraisal, Appraisal Tips, FAQ's, Realtor Tips
I’ve written about this in the past but thought I would mention it again because I have received a couple of calls within the past month from loan officers not happy with the appraisals they have received. In both situations, out of town appraisers were used.
Tags:Appraisal·competent appraiser·divorce·estate settlement·geographic competence·local appraiser·pre-listing appraisal·tax appeal
Market Value: The X-Factor in Most Real Estate Transactions
November 16th, 2011 by Tom Horn · No Comments · Appraisal, Appraisal Tips
Most people have a good idea of what market value is. A short and abbreviated definition of Market Value is as follows: Market value is the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, [...]
Tags:Appraisal·Appraiser·home improvement·investment·market value·real estate transaction·x factor
Which Of These Houses Does Not Conform?
October 31st, 2011 by Tom Horn · 2 Comments · Appraisal, Photos From The Field
Appraisers talk about conformity when describing houses that do not “fit in” to the neighborhood. Sometimes this can be subjective but you can usually tell when it has occurred. Neighborhoods have certain characteristics relating to price range, house style and various other factors. Some times house style and price range intersect and you have an [...]
Tags:Appraisal·conformity·House Style·over built·over improvement·proprety value
What Red Flags Can Kill A Birmingham, AL Area FHA Appraisal?
October 18th, 2011 by Tom Horn · 2 Comments · Appraisal, Appraisal Tips, FAQ's
Have you ever wondered if a house would pass an FHA appraisal inspection? FHA does have more stringent appraisal guidelines than conventional loans but if you know what to look for then you can be ready before any problems come up. I have included some of the top problems I have seen in my 20+ [...]
Tags:Alabama·Appraisal·Birmingham·FHA·FHA repairs·jefferson county·MPR·red flags·shelby county
Could Alabama Appraisers Be In Violation Of State Law?
October 13th, 2011 by Tom Horn · 4 Comments · Appraisal, Legal Matters
Do you do work for Appraisal Management Companies (AMC’s)? If you do and they are not registered with the Alabama Real Estate Appraisers Board, you could be subject to discipline. As of October 1, 2011 any AMC’s doing business in Alabama must register with the state. Pursuant to §34-27A-20(a)(9) of the Alabama Real Estate Appraisers [...]
Tags:Alabama·amc·Appraisal·appraisal management company·Appraiser
What I’ve Learned in My First Year of Blogging
September 22nd, 2011 by Tom Horn · 9 Comments · marketing, Networking
Technically speaking it has been about 18 months since I started blogging but “My First Year” sounded better so that’s what I went with. If there was one phrase that summarized my experience during this time it would be “slow and steady wins the race”. It has been a time of learning new things, meeting [...]
Tags:Appraisal·appraising·blogging·marketing·Networking·wordpress
How To Estimate The Value Of Your Home Without Getting An Appraisal
August 1st, 2011 by Tom Horn · 2 Comments · Appraisal, Appraisal Tips
If you are in the market to sell your home the best thing you can do is to get a qualified appraiser to provide you with an appraisal of your home. This will ensure that the most accurate sales and listing information is used to give you the most precise value estimate. If you are [...]
Tags:Alabama·Appraisal·Birmingham·estimate your homes value·home·home value estimate·House·house value estimate
Ask The Appraiser: Can Pending Sales Be Used In An Appraisal?
July 14th, 2011 by Tom Horn · 4 Comments · Appraisal, FAQ's, Realtor Tips
I was asked a great question yesterday that I thought I would share with you. Can pending sales be used in an appraisal? The short answer is “yes”. Appraisers have three options for comparables. They include closed sales, active listings, and pending sales. The appraiser must use a minimum of 3 closed sales in the [...]
Tags:active listing·Appraisal·appraisal questions·appraiser questions·comparables·pending sales·sales contract
